FW
Blackstone, globally the biggest private equity firm, has invested a whopping Rs. 1,750 crore in Ryka Commercial Ventures, the holding company of Future Lifestyle Fashion, through debentures which will be used to retire or pre-close all existing financial obligations.
Blackstone is infusing capital by combining equity and structured debts. This will fund the capital expansion of Kishore Biyani’s deep-discount retail format ‘Brand Factory which is modeled on American retailer TJ Maxx’
In July 2019, Blackstone acquired around 6 per cent stake in Future Lifestyle Fashion for about Rs. 545 crore in a secondary market transaction. Kishore Biyani and his family own 53.4 per cent of Future Lifestyle Fashion through various entities including Ryka Commercial Ventures. Though the Future Group generates its biggest chunk from food and grocery retailing, its apparel and lifestyle segment generates higher margin business. The company grew by 27 per cent last fiscal with revenues of Rs 5,728 crore. The firm also manages nearly 30 brands including Indigo Nation and Lee Cooper, through 339 stores across 7.2 million square feet of retail space.
To deal with its falling profits, Bestseller aims to innovate its digital operations besides incorporating sustainability in its operations. Danish fashion retail giant’s sales rose by 7 per cent to €3.5 billion in its 2018/19 financial year but its pre-tax profit declined by 3 per cent to €372 million.
The group, which owns its eponymous chain, plus Vero Moda and Jack & Jones among other labels, also hinted that conditions are tough in the market, even though its sales are up.
The firm’s approach of creating close partnerships with its wholesale customers has paid off in a market affected by changes and new realities. The company’s 2,750 stores in 38 markets worldwide are complemented by its products in over 20,000 multi-brand and department stores.
Itmach India will be held in Gujarat, December 5 to 8, 2019.
This is a textile machinery and accessories exhibition showcasing the latest textile technologies and machinery to the Indian textile industry. So the Indian textile industry can experience world class textile manufacturing technology under one roof. Weaving machinery and technology supplier Picanol will showcase its airjet Omniplus- i loom with Smartshed, which will be displayed working on denim fabric with warp beam from Arvind Mills and operate at production speed above 1000 rpm.
The Indian textile industry has continuously invested in innovations and technology upgradations as global opportunities open up. The backbone of the Indian textile industry, the spinning sector has of late been facing a tight demand situation due to the US-China trade war, China’s trade agreements with Pakistan and Vietnam, as well as high domestic cotton prices. This has resulted in slower investment in the spinning sector this year. However, the trade war has also brought new opportunities to weaving, knitting, dyeing, printing and wet processing and garmenting. Global brands and retailers are looking for Indian suppliers with economy of scale plants with state-of-the-art process technology. Therefore, the Indian weaving, processing and garmenting sectors are still in the investment mode and resource efficient technologies are in demand.
Bangladesh plans to bring its 3.6 million garment workers under a digital wage system by 2021.
Already 1.5 million garment workers receive their wages under the digitised system. Another 2.6 million will soon join them. Transitioning from cash is expected to significantly increase the security and efficacy of payments not only by saving time handing out payments but also minimising productivity disruptions on payday.
Using digital and electronic payments instead of cash has the potential to empower workers by improving their access to financial services, savings, credit and insurance.
This, in turn, can result in additional economic opportunities and independence, particularly for the women who make up 80 per cent of Bangladesh’s garment workforce. Women in Bangladesh with digitised wages are half as likely to report handing their salaries over to their spouses on a monthly basis. Shifting from cash to digital payments also improves the likelihood of women participating in household financial decisions by 15 per cent. By ensuring traceability of the payment process, digital payments are also expected to reduce corruption, fraud and theft and make it easier to check compliance with core labor standards and to measure how factories comply with ILO’s decent work agenda in relation to living wages.
Burberry intends for every single product it sells to have at least one positive attribute by 2022.
Some products might be made out of an environmentally-friendly material, like its newly introduced Econyl made from recycled fishing nets. Others might use traditional materials, but they are manufactured at a carbon-neutral factory.
Burberry has also set a goal of removing harmful chemicals from its products by 2022 and has trained more than 1,000 employees in chemical management to facilitate that goal. In 2017, the company sourced 21 per cent of its cotton ethically through the Better Cotton Initiative, but that’s increased to 68 per cent this year. In the two years since the five-year plan was put into place, 36 per cent of Burberry products have been made to have at least one such attribute. The goal is for all of its products to meet the criteria by 2022.
On the operations side, the brand’s major focus is on the raw materials stage of the supply chain, which is responsible for 50 per cent of all Burberry’s carbon emissions. Burberry intends to cut emissions by 95 per cent by switching as much of its supply chain to renewable energy as possible. From 2018 to 2019, Burberry obtained nearly 60 per cent of its energy from renewable sources, a 43 per cent reduction from 2016. The brand is already carbon neutral in its retail stores in the Americas and parts of Europe, the Middle East and Africa.
Spanish fashion brand Desigual is coming to India.
It will first be available on Myntra and thereafter in outlets across the country. In the first phase six stores will be opened in metros, followed by stores in Tier II.
The Desigual essence is characterised by its individuality and the unique character of its creations, which are always different and designed to authentically dress anyone who wants to be 100 per cent themselves and show their most creative side. The brand offers clothing for women, men, and children as well as a collection of unique accessories. The brand is Mediterranean, and this is where its inspiration comes from. The lifestyle is conveyed through its designs, stores and communication. The brand’s clothing exudes a character that is unique, which helps people express themselves and be the most authentic. Desigual’s characteristic vibrant designs come with a flamboyant splash of colors.
Desigual is being brought to India by Tablez. This retail group has introduced several leading global brands in F&B, toys, lifestyle, and apparel to India –– including Springfield, Build-A-Bear, GO Sport, and Yoyoso. In the F&B vertical, Tablez holds the India franchise rights for Cold Stone Creamery and Galito’s, in addition to successfully developing its home-grown brand, Bloomsbury’s. Tablez currently operates more than 70 outlets globally and plans to expand to 300 outlets by 2020.
Jabong’s revenue went up 19 per cent in the current fiscal.
The cost of the online portal slumped by 6 per cent during the same period. Employee as well as finance expenses continued to increase in the current financial year – 22 per cent and 140 per cent respectively. US-based retailer Walmart owns Jabong. The merger of Flipkart’s fashion arms Myntra and Jabong led to massive layoffs with as many as 150 employees getting the axe. Myntra and Jabong together were asked to move all operations to Bangalore and cut workforce. Employees who didn't get the option to join in Bangalore were offered three months' pay as severance and 15 days of pay for every year served, besides gratuity.
In early 2019, retail giant Walmart, in its bid to bring in more efficiency and better results, decided to consolidate back office functions for Myntra and Jabong. Walmart, in this process, shifted its focus to a single premium fashion platform namely Myntra. On the cost front, it would not have made sense for Walmart – which took over Flipkart – to keep pumping cash into three different brands.
Jabong, based in Gurugram, was founded in 2012 and sells apparels, fashion accessories, footwear and home accessories, among others.
The progress of textile parks, under the Scheme for Integrated Textile Parks (SITP), has been moving at a snail’s pace.
The scheme was approved during the tenth five year plan in 2005. While 59 textile parks have been sanctioned, only 22 have been completed. The rest are under various stages of construction. The slow progress has been attributed primarily to delay in obtaining land and other statutory clearances and slow fund mobilisation by the textile parks.
The SITP provides support for creating a good textile infrastructure, with the government granting up to 40 per cent of the project cost. The government grants up to 90 per cent of the project cost for the first two projects each in the states of Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Tripura, Sikkim, Himachal Pradesh, Uttarakhand and Jammu and Kashmir with a ceiling limit of Rs 40 crores for each textile park.
Apart from the SITP, more recent programs are aimed at providing a boost to the textile industry. These include a Rs 6000-crore package that was launched in June 2016 to boost employment and export potential in the apparel and made-up segments. The Amended Technology Upgradation Fund Scheme has been designed to promote the ease of doing business in the country and to mobilise new investment and employment.
Sensitive Fabrics by Eurojersey is presenting a selection of prints for Spring-Summer 2021 lingerie collection with dashes of retro charm, revisited and transformed in an expressive contemporary mood. This collection is dedicated to dynamic women of character with a propensity for a glamorous and romantic style or a sexier look of gypsy allure interpreted in animal prints. Underwear and nightwear garments in these colletion assume country-style influences in a warm colour palette for street-style outfits or optimistic atmospheres in deep shades for more sporty solutions.
Light and comfortable with a soft hand-feel, Sensitive® Fabrics are excellent for creating any type of lingerie garment. Widely acclaimed for their aesthetic and technological qualities, breathability and absence of pilling, they are unrivalled in their offering of maximum comfort and the right amount of support. For the pleasure of the wearer, they have all the characteristics of a second skin which dresses and protects the body, while conferring elegance and ease of movement.
For Canclini, the year 2019 ends with its first participation in the Denim Première Vision show that is being held in London from December 03-04, 2019. The company is launching its restyled collection Blue 1925 at the show.
The collection provides creates unique aesthetics, preserving the high quality of the Canclini 1925 trademark. Its goal is to amaze and stimulate with its blue and indigo nuances and over-dyeing in trendy colors in all outfits including shirt, trousers, T-shirts, etc.
This innovative and versatile line is available in all sizes from light to medium, as well as heavier models. There are also plenty of alternatives in terms of the type of fabric: from garment- to yarn-dyed, shuttle-loom developed, as well as jersey, jacquard fil-coupé, and printed materials. The collection is made from innovative and sustainable fibers like cotton, linen, hemp, and bamboo fabrics, as well as regenerated cotton, for green and responsible denim.
