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Arvind Fashions Limited (AFL), the retailer of brands such as Calvin Klein, Tommy Hilfiger and US Polo Assn, is raising Rs 200 crore on rights basis to strengthen its balance sheet this year, according to a report by TNN.
“The Board has approved issue of equity shares for an amount up to Rs 200 crore on rights basis. The Board evaluated various options and is of the view that rights issue would be an equitable mode of fund raising as it gives its shareholders an equal opportunity to participate in the growth of the Company. The Company intends to utilize the funds to meet its objectives of strengthening its balance sheet and for general corporate purposes, including working capital for growth,” AFL stated in a stock exchange filing to the BSE.
AFL on Wednesday widened its net loss to Rs 66.62 crore for the quarter ended December as the impact of the pandemic persists.
The casual wear and denim player reported a 14.22% drop in revenue in the third quarter at Rs 911.13. A year ago, it had sales of Rs 1062.28 crore with net loss of Rs 46.26 crore.
In a stock exchange filing, the fashion retailer, said revenue, however, grew sequentially by 106%, led by strong festive season and winter shopping, along with increased footfall across stores as lockdown gradually lifted and continuing progress in the ecommerce channel.
An array of activities and special launch offers that spread over a week to ensure everyone got a fair chance while maintaining all rules of social distancing, got the customers excited to visit the store. To kick-start the opening, every customer shopping at the store till 1st April 2021 got the chance to participate in a raffle and win exciting merchandise. Additionally the long weekend from 2nd to 4th April 2021 weekend also witnessed the celebration of the launch of the iconic Stan Smith sneaker in its sustainable avatar, dropping in the coolest Disney & Marvel characters on the shoe who led the brand’s eco-conscious narrative. The new store got every Originals’ fan, fashion lover, shopper and consumer at the mall kicked up as they shopped the latest collection in full glory.
Catalogue Buying: A first of its kind initiative that allows customers to make a purchase directly via WhatsApp. By simply opting for the ‘Browse Catalogue’ option, the customers can browse through Fossil’s entire range of products from the nearest retail store – watches, bags & wallets, and jewelry. Post selection, the customers can easily pay online and schedule a home delivery or a self-pick up at the store, as convenient. Additionally, the customers can opt to reserve the products for up to 48 hours without any additional costs.
Prabhdeep brings with him 13 years of rich and diverse experience in various domains like Education Technology, FMCG and Consulting. In his previous role, he was the Chief Operating Officer with Toppr Technologies Pvt. Ltd. for 5 years. Prior to that, he has worked with McKinsey & Company in their Chicago office and Procter and Gamble India. He holds an MBA from Kellogg School of Management, Northwestern University, and an undergraduate degree from IIT Bombay.
Home Centre’s presence on Myntra will add an unparalleled range of lifestyle products to the platform, across subcategories, while enabling the customers to access these seamlessly across the country. The brand’s most popular products include Bedsheets, Curtains, Cushions, Towels, Tableware, Figurines, Lamps & Lighting, Clocks, and other kitchen products with prices starting from as low as Rs 299 and going up to Rs 10K, over a wide range of products. Home Centre will offer about 2000 styles on Myntra, to begin with, and will subsequently scale it to 3000 styles over the next three months. Myntra and Home Centre will also work closely for unique product lines, specially curated for customers of Myntra.
On the upward revision in the sectoral outlook to stable for FY22, it said, although there have been no rating upgrades in FY21 till date, about 11% of the ratings have been put on a positive outlook in view of a sharper-than-anticipated recovery, adequate liquidity buffers and margins supported by high realisations. There were no downgrades of any big players in FY21.
Prints and patterns will rule the kids’ apparel industry in 2021. Layers, geometric cuts, asymmetry, and pleated patterns will be increasingly preferred along with stripes, checks, floral, abstract, geometric, artsy, and cartoonist prints. This will provide the requisite funky, vibrant and childish appearance to the kids.
· IMO, the importance of decision-making on “real time data”is over-exaggerated. There are very few Use Cases where Sales/Inventory data of the last 1 hour would prompt our decisions. One such use case definitely is during times of EOSS, when we keep a keener eye on stock levels of fast-moving merchandise
Ushering in a creative new age of digital retail that connects fans with the brand like never before, the Tumi virtual store is a dynamic storytelling medium that inspires customers to embark on a journey through thoughtfully designed interactive touch points and activations. From exploring the Virtual Store’s sophisticated visual presentation of a cutting-edge space to engaging with shareable social photo moments and entertaining minigames; guests can also discover Tumi products via mesmerizing 360° 3D and AR implementations and shop the Spring 2021 collection’s latest styles.
“Comfort is one of the factors that has led to the increase in demand of casual wear. We are a brand that conﬁnes to delivering health beneﬁts along with style. The 5-zone reﬂex technology is the USP of footwear at Von Wellx Germany. The consumers today not only look for fashion, but fashion that is versatile, gives them maximum comfort and meet their needs of health concerns. We have introduced new range of casual wear that is lightweight, durable and comes with reﬂexology. We have incorporated Diabetic insole, energy insole and swing insole footwear into the casual wear collection that provides support not only to feet but the entire body system. It relaxes muscles in the nape of neck, increases blood circulation in the head, and improves digestive system and much more. Minimalist designs with sober and pastels are very much in trend these days. Shades of brown have been sold out maximum in comparison to colorful footwear that gained traction in 2019. Blue, black and brown are going to rule the industry again as these are easy to style and go well with any outﬁt of colors. Floaters made a comeback this year and most brands have re-introduced their ﬂoaters range,” says Jain.
Commenting on the strategic development, Adwaita Nayar, CEO, Nykaa Fashion and Founding Team Member, Nykaa said, “We have seen a rising trend of personalised minimalistic and premium fashion accessories in the Indian market. At Nykaa Fashion, we strive to bring the best quality and variety of such products to meet the demand of the audience. We are excited to have Pipa Bella on board as the brand reflects our vision to always stand for good quality and well-curated designs at accessible prices. Our aim is to extend the brand’s core signature design to a much larger landscape by becoming a full range accessories label. We believe that there is a strong opportunity to provide premium fashion jewellery with contemporary design and functionality at the core of the customer experience.”
The bee is also the project’s logo; a graphic reinterpretation of Benetton’s iconic knit stitch, it symbolizes the contribution of each individual within an organically expanding hive, an accurate representation of the commitment of the company and its people to sustainability.
Leading fashion retail company Benetton Group has launched GREEN B, a project that brings together all the sustainability initiatives of the company’s brands. From the idea and manufacture of a product to the supply chain, from energy efficiency to attention to the needs of communities; this well-rounded vision formalizes the commitment to the environment and people that constitutes one of the company’s constant values. shopping from your own closet and stylishly reusing your existing clothes.
Despite the steep fall in gold prices and the resultant fall in realisations, retail jewellers are likely to sustain the ongoing demand recovery into the next fiscal with a 30-35% spike in demand, according to a report. There was strong demand recovery in the third quarter of FY21 due to the festive season, pent-up wedding demand, and a 10% correction in gold prices during festival period from its peak in last August, said India Ratings in a report on Thursday, revising the sectoral outlook to stable from stable-to-negative.