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GOVERNMENT PREPARES TO INTRODUCE NEW GST RATES FOR APPAREL AND TEXTILES IN NEW YEAR

The government has received large-scale backlash for its proposed goods and services tax hike to 12% on numerous apparel and textiles categories, but remains set to implement the tax increase on January 1, 2022. TO READ MORE: https://in.fashionnetwork.com/news/Government-prepares-to-introduce-new-gst-rates-for-apparel-and-textiles-in-new-year,1364196.html

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MEN’S FASHION INDUSTRY HAS SHIFTED FROM COOL CASUAL TO STREETWEAR, SAYS SANKET MEHTA

Men’s fashion is a topic that not every influencer touches. Breaking stereotypes and building a niche for men is not an easy task. The adoption of luxury lifestyle among consumers and rising urbanisation has spawned a modern class TO READ MORE: https://news.abplive.com/lifestyle/men-s-fashion-industry-has-shifted-from-cool-casual-to-streetwear-says-fashion-expert-sanket-mehta-1499983

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MALLS CHEER FOR RETAIL SECTOR AHEAD OF CHRISTMAS, NEW YEAR

Mall operators and retailers are hoping to return to the growth track in 2022 after two challenging years when the pandemic derailed their businesses. While the industry suffered a major loss in 2020, most retailers have made a smart recovery. TO READ MORE: https://retail.economictimes.indiatimes.com/news/food-entertainment/entertainment/mall-cheer-for-retail-sector-ahead-of-christmas-new-yr/88289377

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LIFESTYLE PRODUCTS INCLUDING APPARELS SPORT HIGHER PRICE TAGS ON SUPPLY WOES

Shoes, perfumes, apparel, cosmetics-all have either become costlier or are set to get pricier. Lifestyle products such as these are seeing a supply crunch due to port congestion, closure of global manufacturing hubs, higher fuel costs, and labour. TO READ MORE: https://www.dfupublications.com/news/apparel/lifestyle-products-including-apparels-sport-higher-price-tags-on-supply-woes

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HIKE IN GST WILL RESULT IN CLOTHING BECOMING COSTLIER: INDUSTRY BODIES

Clothing and footwear have got expensive for Indian consumers. Due to raw material cost pressures, industry players have had to increase prices by about five per cent to ten per cent across various categories and with the hike in GST the overall price. TO READ MORE: https://www.dfupublications.com/news/trade/hike-in-gst-will-result-in-clothing-becoming-costlier-clothing-manufacturers-association-of-india-retailers-association-of-india-and-confederation-of-all-india-traders

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MINISTRY OF TEXTILES SIDES WITH INDUSTRY AGAINST PROPOSED GST HIKE

The Ministry of Textiles has decided to approach the Goods and Services Tax secretariat to ask for a return to the previous GST rate of 5% for clothing and textiles instead of the proposed hike to 12%. TO READ MORE: https://in.fashionnetwork.com/news/Ministry-of-textiles-sides-with-industry-against-proposed-gst-hike,1362837.html

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FUTURE OF RETAIL SECTOR WILL BE DEFINED BY A MULTI-CHANNEL APPROACH: DELOITTE REPORT

Leading consulting firm Deloitte India has said in a report that consumers as well as consumer goods companies in India are taking the multi-channel approach after the pandemic changed customer habits causing a shift in the offerings TO READ MORE:

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MATERNITY WEAR GROWS AT 4%: MILLION INSIGHTS REPORT

The global maternity wear market is growing at four percent a year says a report by Million Insights. The report states, the global maternity wear market is projected to reach $24.5 billion by the end of 2025 growing at a CAGR of 4.3 percent from 2019 TO READ MORE: https://dfupublications.com/news/apparel/maternity-wear-grows-at-four-percent-million-insights-report?fbclid=IwAR3lCqKBhYXSiZaeKO5Q1vcSqCQFRswnfONG4FzTrIqdcCabRZHWd-V5ufQ

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RETAIL MALLS LIKELY SEE RECOVERY OF UP TO 75% OF PRE-COVID RENTALS IN FY22

Retail malls are expected to witness recovery up to 75% of pre-Covid rentals in the current financial year ending March supported by pent-up demand and resumption of multiplexes’ operations, said ratings agency ICRA Malls have witnessed a faster. TO READ MORE: https://retail.economictimes.indiatimes.com/news/food-entertainment/entertainment/retail-malls-likely-see-recovery-of-up-to-75-of-pre-covid-rentals-in-fy22/88186338

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ADAPTIVE CLOTHING MARKET GROWING AT FOUR PERCENT

The global adaptive clothing market is witnessing a CAGR of 4.1 per cent. Adaptive clothing is clothing specially designed for people with varying degrees of impairment, which includes acquired disabilities, birth defects, congenital. TO READ MORE: https://www.fashionatingworld.com/new1-2/adaptive-clothing-market-growing-at-four-per-cent

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