Khadi India’s CP flagship crosses single-day sales of Rs. 1 crore four times. The Khadi India flagship store located in Connaught Place, Delhi has reportedly crossed single-day sales figures of Rs. 1 crore four times since Gandhi Jayanti in October.
The multiple efforts made by the Government to promote Khadi both domestically and in international markets seem to have finally paid off. Announcing this feat, the MSME ministry put out a statement saying, “In just 40 days since 2 October this year, Khadi’s single-day sales figure has crossed Rs. 1 crore mark for 4 times at the flagship Khadi India outlet at Connaught Place in New Delhi.” Even on 13 November, the total sales came in at Rs. 1.11 crore, the highest single-day figure recorded in a year, according to a PTI report.
As people buy Khadi products to commemorate and remember Mahatma Gandhi, Khadi sales figure touched Rs. 1.02 crore on 2 October this year, followed by Rs. 1.05 crore sales on 24 October 24 and Rs. 1.06 crore on 7 November. Madison Avenue sees rents fall drastically as retail takes a hit. Madison Avenue, one of the most well-known shopping corridors in the world, is dotted with luxury brands and has for long been a coveted spot for high-end fashion retailers across the globe.
However, the pandemic seems to have hit the Manhattan shopping district hard as rents declined 17 per cent in the third quarter of the financial year as compared to the previous quarter. In fact, brokerage firm Cushman & Wakefield says that at the current average of US $ 779 per square feet, the price is down 52 per cent from the peak over the last 5 years. Bijou Kurien and Kulin Lalbhai take over as Chairman and Vice Chairman of RAI.
The Board of Directors of the Retailers Association of India (RAI) has announced, post its meeting on 30 September 2020, the appointment of Bijou Kurien, Independent Consultant and member-Strategic Advisory Board, L Catterton Asia as the Chairman.
Nicobar expands to quirky tableware with latest homeware collection ‘Madagascar' Premium fashion and lifestyle label Nicobar is expanding the purview of its popular homeware line by introducing a whimsical and sustainable range of tableware in response to consumer demand.
The pandemic has altered perceptions as people have started celebrating and decorating their homes having spent so much times indoors, thus blurring the lines between clothing and interior décor. With more people looking forward to showing off their eclectic home design, Nicobar’s new homeware collection named ‘Madagascar’ includes a range of new product launches. Nicobar’s Facebook page carried the announcement for the new collection and the expansion into tableware. Tricorp integrates MySizeID into its e-commerce platform. Tricorp, a European workwear provider, has collaborated with MYSize to integrate MySizeID widget into their e-commerce platform.
The partnership is a step to extend conversion and reduce return rates in online shopping. The Athlete’s Foot venturing into apparels with activewear. HUGO BOSS selects Toshiba to enable seamless customer experiences. Hugo Boss, a German luxury fashion house, has collaborated with Toshiba International Commerce Solution to offer a seamless shopping experience for in-store consumers.
The brand will be leveraging tech company’s TCx 800 to revitalise its front end and TCx 300 to optimise its cellular capabilities. The technology will help Hugo Boss establish a global standard for the brand’s point of sale hardware and also enable in-store mobile technology for creating a seamless shopping experience. Both the technologies will be equipped at the new retail store spread across 5,000 square feet in SoHo.
Blenders Pride Fashion Tour collaborates with Tarun Tahiliani for their first-ever digital premiere. The Blenders Pride Fashion Tour collaborated with ace Indian designer Tarun Tahiliani to spearhead the first-ever digital premiere and celebrate his 25 years in the industry.
Notably, it has been collaborating with Indian designers and promoting the Indian aesthetic through conventional runway shows to fashion festivals. H&M’s Arket launches online store with Tmall today! Arket, one of H&M’s younger brands, is unveiling a digital flagship store in China today (19 August).
The Nordic fashion and lifestyle sustainable brand is partnering with Alibaba to launch the online store on its B2C platform Tmall, marking its first attempt at expansion beyond Europe. The news of the partnership had earlier been announced in June this year. Arket’s store will feature a special selection of its functional yet playfully aesthetic ready-to-wear, timeless basics, accessories, travel and beauty collections for men, women and children. It will also include homeware and home accessories with an aim of making life more beautiful through products that are meant to be loved and used for a long time. “Partnering with Tmall is a fantastic opportunity for us and makes it possible to create a store experience that brings together all the different aspects of our brand in a new way,” commented Pernilla Wohlfahrt, MD, Arket. Fashion brand Anavila donates face masks to local postal workers in Mumbai.
New innerwear brand Almo launched with the strength of organic cotton and modal micro fibres. Ensuring comfort to wearer, Almo Wear, a new brand of men’s innerwear, was launched recently.
A venture of Gurgaon-based Subir Ghosh and Muskaan Jain, Almo Wear is an attempt to change the perception as comfort is the most oversold yet the least revelled attribute of innerwear. The existing choice of innerwear, for most consumers, is based more on their propensity to pay rather than the product or brand’s USP. With the strength of innovative fabrics, the brand is building an innerwear experience by bringing Italian style and minimalism to the Indian market. The target customers are those looking for a more aspirational alternative with premium quality and comfort at a reasonable price. Ted Baker announces Pride capsule collection on ‘Ted Bazaar’ Chanel unveils a digital Cruise 2020-21 collection. While many brands are busy deciding the future of fashion and the fashion seasons, it seems Chanel has made their statement about it.
Billion dollar losses strain Macy’s financials for Q1 2020; says bankruptcy is out of the picture. As Macy’s revealed their Q1 2020 financial report, the company is seen to be incurring extreme losses. While revenue in February looked stable, store closures and lockdowns crashed the March and April revenues. Total revenue for Q1 stood at US $ 3 billion, which is far from US $ 5.5 billion in Q1 2019. The operating losses are said to land anywhere between US $ 905 million and US 1.1 billion, which are astronomical compared to US $ 203 million for Q1 2019. Debt has also been rising up for the department store chain as the report stated US $ 5.6 billion in the Group’s debt. Macy’s stated that they had closed all stores since 18 March 2020, which impacted significantly on the financial books. While stores have gradually started opening, the retailer is now backing hard on digital sales and the results have shown positive signs.
Raymond plans to raise Rs. 100 crore in NCDs. Uniqlo announces collaboration with Billie Eilish and Takashi Murakami. Uniqlo has always been ahead of the game when it comes to unique collaborations and collections. In its latest collaboration, the brand has roped in Grammy award winning singer Billie Eilish and contemporary artist Takashi Murakami, to draw on their personal artistic perspectives to create a new line of ready-to-wear T-shirts. The brand announced the news through their Instagram handle with a short video teaser displaying the iconic Takashi Murakami motifs.
Style.me establishes Advisory Board for market expansion. Good Earth’s initiative to help artisans tide over difficult times. Luxury lifestyle and fashion brand Good Earth has launched the Good Earth Crafts Foundation in partnership with award-winning author, lawyer and businesswomen Ritu Sethi to support artisans and keep traditional crafts alive while we weather this pandemic. In a Facebook post, the company elucidated that their efforts were to help strengthen their commitment towards the artisan community while they struggle during these difficult times.
The brand endeavours to bridge the gap between luxury and craft by providing a platform for enthusiasts to buy products developed by the talented craftsmen and women. Gap announces plans to reopen 800 stores by the end of May. Gap Inc. is planning to reopen 800 of its apparel stores by the end of May, as states like Texas and South Carolina are slowly allowing certain businesses to open their doors that were shut due to the COVID-19 pandemic. The openings will include Old Navy, Gap, Banana Republic and Athleta brands, all of which comes under the firm. The San Francisco-headquartered company is among the several other retail brands in the likes of Macy’s, Nordstrom, Abercrombie & Fitch and Chico’s, that are taking steps to get back to business with precautionary measures. Gap said that the fitting rooms and public restrooms will be closed upon opening of the stores and that the brand will quarantine the returned clothes for 24 hours before putting them back on the sales floor, and will also put up social distancing signs across the stores.
Harrods to roll out exclusive personal shopping service to VIP clients ahead of reopening post-COVID. Inspired by the Porsche 911 Turbo, PUMA launches PUMA Porsche Legacy collection. New Era brings Yohji Yamamoto for their 100th anniversary collection. Ermenegildo Zegna x Fear of God: Young designs meet luxe fabrics. The streetwear brand Fear of God has collaborated with luxury menswear label ErmenegildoZegna for Fall/Winter 2020 collection. Études x Keith Haring: Spring brings a vibrant comical bliss during tough times. As COVID-19 continues to impale the global fashion industry, Études has collaborated with the famed graffiti artist Keith Haring to produce the Spring/Summer 2020 collection.
FFIXXED STUDIOS brings jacquard jackets and mattress-inspired puffer coats for F/W20. Joshua Vides’capsule collection for Fendi looks straight out of a comic book. Known for his black and white marker accents, Joshua Vides has unveiled yet another collaboration with the luxury house Fendi. Named ‘California Sky’, the collection features jackets, shirts, T-shirts, skirts, trousers, shoes, socks and a bag, all of which have the signature black and white comic-book inspired details in various styles. CDG PLAY x Converse: Vibrant new colours for Chuck 70 sneakers. Giorgio Armani criticised for comparing fashion trends to rape. Ferrari forays into fashion! Collaborates with Giorgio Armani. Ferrari is into fashion now! The Italian sports car maker is the latest to foray into the fashion industry by collaborating with Italian luxury brand Giorgio Armani.
Gap sales drop in Q1. The American clothing retailer, Gap Inc., saw a drop in its first quarter sales across the whole firm. What is noteworthy is that the Gap brand, in particular, was the biggest loser with the total sales going down by 10 per cent. While last year, Gap‘s Q1 group sales had increased by paltry 1 per cent, this year’s first quarter up to 4 May saw the sales falling by 4 per cent. Going brand wise, the global comp sales for Gap was affected the most as it fell by 10 per cent in Q1, whereas it was down by 3 per cent and 1 per cent for Banana Republic and Old Navy – its other esteemed brands.
Art Peck, President and Chief Executive Officer, Gap, while expressing disappointment said “The first quarter has been very challenging for the company and we are not at all satisfied with our results.” Jacquie Naylor is Myer’s new non-executive director. Australia-based Myer has appointed Jacquie Naylor as a Non-Executive Director, with effect from 27 May 2019. Apparelresources. Fashion Industry Information.