Lockdowns continue to spell doom for clothing companies that witnessed business upsurge in January and February owing to ‘end of season sales’ and declining COVID cases. However, a report by ICICI Securities expects rising COVID cases TO READ MORE: http://dealersforyou.com/categories/insight/recurrent-lockdowns-threaten-apparel-brands-near-term-growth-profitability
Ethnic wear and lifestyle brand FabIndia opened a new store in Mumbai’s Utopia City in Lower Parel on April 6. The brand has also launched a range of new womenswear size options and sustainable pieces. As FabIndia continues to expand, TO READ MORE: https://in.fashionnetwork.com/news/Fabindia-opens-new-mumbai-store-expands-size-range-and-sustainable-options,1292878.html
Value fashion retailer V-Mart plans to open around 55 stores in the current financial year as it aims to get back to the momentum it had in the 2020 fiscal year and sees an opportunity for growth driven by young consumers. “We are on our plans. TO READ MORE: https://in.fashionnetwork.com/news/V-mart-sees-growth-opportunity-for-value-fashion-plans-over-50-store-openings-this-fiscal,1292490.html
Half of the manufacturing units in Maharashtra could remain shut for the next fortnight as the state’s new Covid-19 norms come into effect. These include appliance and apparel makers, which fall in the non-essential category. TO READ MORE: https://www.business-standard.com/article/current-affairs/maharashtra-curfew-half-of-factories-may-remain-shut-for-next-fortnight-121041500064_1.html
India’s Future Retail will deliver groceries and clothes from its main retail stores within two hours, it said on Thursday, as the company expands in an e-commerce sector dominated by the likes of Amazon.com Inc. Future will allow customers to order goods TO READ MORE: https://www.zawya.com/mena/en/business/story/Indias_Future_Retail_to_offer_quick_online_deliveries_in_bet_on_ecommerce-TR20210401nL4N2LU2BWX1/
Apparel retail sector’s recovery is expected to continue in FY22, on back of improving consumer confidence, resumption of store expansion by organised players and prospects of the vaccine rollout. TO READ MORE: https://www.indianretailer.com/article/operations/research/recovery-in-apparel-retail-sector-expected-to-continue-in-fy22.a6932/
The Clothing Manufacturers Association of India (CMAI), has appealed to the Maharashtra government to avoid reimposition of lockdown, as another lockdown will completely kill the garment industry in the state. There are around 18,000 garment factories in Maharashtra, 10,000 of which are in Mumbai. The industry employs 1.3 million people in Maharashtra. TO READ MORE:...
B.S Nagesh, retail industry veteran and the Founder of the Trust for Retailers and Retail Associates of India (TRRAIN), had recently shared with VMRD/Retail4Growth his views on on what 2021 looks like for this industry. Presented below are excerpts from the conversation published in VMRD magazine. TO READ MORE: https://www.retail4growth.com/viewpoints/on-business-sustenance-space-optimisation-omnichannel-more-856
Mall owners and traders from the city have urged the district administration to review its decision to announce stringent restrictions, including the night travel curbs and closure of malls for a week. TO READ MORE: https://retail.economictimes.indiatimes.com/news/industry/malls-urge-govt-to-intervene-help-them-stay-afloat/81883574
Fashion retail markets across the world were under severe stress even before the COVID-19 crisis. A new KPMG report ‘Covid-19: Mitigation strategy for Indian textile and apparel sector’ highlights issues like deep discounting and damp consumer sentiments were already threatening the future prospects of the industry. The onset of the COVID-19 pandemic has plunged the...
