Despite the onset of wedding season, the situation in apparel retail market remained unchanged and saw sharp decline in sales
Currently, Reliance outsources a bulk of the apparel needs of its three Vimal sub-brands, Black, White and Red. But, it is keen on establishing a manufacturing base for specialised garments such as suits and jackets. The new facility is likely to come up in south India in the next 6-9 months, said Reliance executives. However, the capacity details of the facility will be divulged later.
The stock of footwear major Bata India has been the highest gainer among larger listed footwear companies since the start of the month on expectations of a recovery in the value segment, new launches and measures by the new government to boost consumption. The third largest footwear maker by market capitalisation has been trailing its peers over the past few quarters due to the slowdown in the mass segment market which accounts for a significant chunk of its revenues.
Mukesh Ambani-owned Reliance Retail on Thursday opened its first exclusive apparel store under the 'Reliance Trends' brand in Gurgaon as it moves ahead with its Rs 25,000 crore ( Rs 250 billion) retail juggernaut.Besides housing a variety of international brands like Lee, Wrangler and Reebok, 'Reliance Trends' will also have a fair share of private label in various categories.
Despite high headline numbers, the output of one-third of the segments in the manufacturing sector in August stood below even that in the same month in 2011-12, when the new index of industrial production (IIP) series started. This is despite the fact that manufacturing grew 9.3 per cent in the month, driving up IIP growth to a 14-month high of 10.3 per cent. Part of it is due to the devastation of these product categories by lockdowns induced by Covid waves and subdued export conditions, while part of it needs to be assessed further.
Fearing customers would not shop this festive season like they usually do, retailers have cut their buying from apparel suppliers by 10-15 per cent for the coming Diwali season. Some have cut their buying of apparel by almost 20 per cent.
Having shown some initial signs of recovery in November, India's apparel exports declined by over 11 per cent to $862 million in December 2009 on account of poor demand from the United States and the Euro zone.
The visitors discovered that some of the players' money and apparels were stolen from right under their nose in Colombo.\n
Hundreds of tailors from a local apparel unit in Kannur have been working tirelessly to get the uniform shirts ready for the Israel police force for the past eight years.
Shares of Avenue Supermarts, which owns and operates the DMart stores, hit a two-year high of Rs 4,710.15 as they surged nearly 6 per cent on the BSE in Thursday's (April 4) intraday trade after reporting strong revenue growth in the January-March quarter (Q4) of the previous financial year (FY24). DMart, in the Q4FY24 pre-quarter update, said the company reported 20 per cent growth in standalone revenue from operations at Rs 12,393 crore, as against Rs 10,337 crore in the third quarter (Q3) of 2022-23 (FY23), driven by a 7 per cent growth in revenue per store and a robust 13 per cent year-on-year (Y-o-Y) increase in store additions. In Q3 of 2021-22, the company reported revenue of Rs 8,606 crore and in Q3 of 2020-21, it posted revenue of Rs 7,303 crore.
Aditya Birla Nuvo plans to extend its footprint in apparel retailing through two subsidiaries for mens exclusive lifestyle and Peter England family stores. Madura Garments, the company's branded apparel division, crossed a turnover of Rs 1,000 crore (Rs 10 billion) in FY08.
Industry body CII on Thursday made a case for pushing reforms in sectors like land, labour, and agriculture by the Modi 3.0 government to accelerate economic growth, which is estimated to be around 8 per cent in the current financial year. CII president Sanjiv Puri said a lot of policy interventions in the past have put the economy on "a much stronger wicket". "The growth rate is poised to touch 8 per cent during the current year, marking the fourth consecutive year of above 7 per cent + growth.
Just as India's apparel exporters were beginning to return on the recovery path after a year marked by recession in the US and Europe, the recent bankruptcy filing by the New York-based CIT Group could hit the sector hard.
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Indian apparel brands are looking at China as the new retail destination.
Walmart group firm Flipkart continues to dominate the e-commerce segment with 48 per cent market share while Softbank-backed Meesho has emerged as the fastest growing e-commerce platform in terms of user base in India, a latest report by AllianceBernstein said. According to the report, Flipkart's user base grew 21 per cent year-on-year (YoY), Meesho accelerated at 32 per cent while Amazon lagged at 13 per cent user growth primarily due to relative premium offerings as compared to peers. "As of FY23, Flipkart was the market leader, with a 48 per cent share in India eCommerce.
Domestic customers will get access to high-quality Swiss products such as watches, chocolates, biscuits, and clocks at lower prices as India will phase out customs duties under its trade pact with the EFTA bloc on these goods over a period of time. India and the four-European nation bloc EFTA signed a trade and economic partnership agreement (TEPA) on Sunday to boost trade and investments between the two regions. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland.
The increasing demand for branded clothes coupled with higher spending power has prompted branded apparel firms to set shop in smaller cities after due deliberations.
As Indians increasingly take to yoga, apparel brands are seeking to cash in on the opportunity to make a few bucks.
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Manufacturing's share in the profit pool of companies had declined before the pandemic.
With the foreign apparel market looking towards India to meet its requirements in the post-quota period, the Apparel Export Promotion Council will be organising mega shows in the United States in June.
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The day's strike is a protest at the Union Budget proposal of a 10 per cent excise duty on branded garments. Garment makers had observed a day's strike on Friday, saying it cost them Rs 130 crore (Rs 1.3 billion).
Gujarat is facing an acute shortage of skilled labour in the apparel manufacturing sector and at a time when most textiles manufacturing firms are coming up with their own garment facilities, the shortage is likely to become acute in the future.
In the apparel export segment, one of the biggest challenges is that UK has a size, US has a size, Europe has a size and a measure; but India does not. So a size India project will be rolled out in the entire country, the first of its kind in Indian history.
Ankit gave a presentation during his interview, an act that clicked to win him TOEFL scholarship.
Had Dhanush not been disqualified, India would have won the team gold with a junior Asian record. The shooter from Hyderabad could have also won an individual medal as he was placed third going into the finals.
Though end-of-season sale is common in the first week of February, what is interesting this time around is the quantum and timing of the offers. Retailers are giving away 20-25 per cent additional discounts, compared to the last year. Also, they began giving discounts at least three weeks before the ususal timing.
Indian suppliers to GAP, a European and US apparel retail chain, have informed the Centre that they are not using child labour and their plants have been subjected to vigorous inspections by the overseas buyers. "The biggest suppliers have informed us that GAP officials have seen their plants and applauded their manufacturing practices," Commerce and Industry Minister Kamal Nath said at the Fortune Global Forum in New Delhi on Tuesday.
Beginning with the festive season, the company expects to open at least one store for each of these products by the year-end.
"To support our massive retail activities, we plan to have our own textile brands - three women's wear brands, one men's wear and one kid's wear - in the next six months," says Deepak Tulsian, vice president, retail, of Gitanjali Gems.
Chinese fashion e-commerce platform Shein is expected to make a second entry into India and has tied up with Reliance Retail for this, according to a source in the know. The source said as part of the tie-up, Shein would source goods from India for its global operations. Also, the manufacturing of its products could happen in the country and they could be exported.
If colas are for the summer, there are other categories patiently waiting to notch up sales during the winter. These include apparels, foods and even liquid detergents.
Ahlstrom, a global market leader in high performance fibre-based materials, has signed an MoU with Mundra Port and special economic zone of the Ahmedabad-based Adani group for 50,500 Sq Mtrs area in the Textile and Apparel Park.
In October 2012, Flipkart entered the menswear segment; later it launched a womenswear range
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