Written By DEBOJYOTI GHOSH Sabyasachi Mukherjee, founder, Sabyasachi Couture Sabyasachi Mukherjee has made it to the top of the couture sweepstakes. And now, with a new partner in Kumar Mangalam Birla-led ABFRL, the designer aims to expand his brand to the larger mass market. Over the last two decades, Kolkata-based fashion designer Sabyasachi Mukherjee didn’t allow outside funding into his business which is now almost synonymous with Indian luxury wedding fashion. Years ago, L Capital (now L Catterton, the $20 billion private equity firm co-founded by LVMH) wanted to back the luxury fashion house but, for Mukherjee, it was too…
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Written By Devika Singh As demand for formal footwear dips, brands shift focus to casual wear such as flip-flops and slides Overall, industry watchers predict that the footwear market will be out of the woods by mid-2021. The pandemic has forced footwear brands to retrace their steps. As sales of formal footwear declined, with consumers working from home, the spotlight has fallen on casual footwear. Footwear manufacturers such as Lakhani Footwear, Red Chief and Metro Brands (which houses Metro Shoes), Mochi and Walkaway, have rejigged their strategy in the past year to suit this trend. According to Ayyappan Rajagopal, head…
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Written By ANSHUL DHAMIJA Sunder Genomal, MD, Page Industries Page Industries got the underwear out of the closet and achieved a decadal success story like no other. A slowing economy has dented its sheen, but the company believes it is still in a sweet spot. A visit to a Jockey store for day-to-day apparel like underwear or just plain pyjamas is sure to make one’s wallet lighter. For example, for men who like to laze at home in their boxers, the cost of the garment is upwards of ₹419 apiece. Pyjamas, another comfort garment, costs a shade under ₹1,000 apiece.…
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Written By Yashi Gupta The numbers are not working in Walmart's favour either. More than a decade after entering the country, Walmart has accumulated a loss of Rs 2,500 crore. In the year ended March, Walmart India posted a net loss of Rs 299 crore while revenue grew 20 percent to Rs 4,926 crore. Flipkart plans to cut Walmart's store size by half to turn the remaining space into warehouses for its online business, according to an Economic Times report. Sources told ET that Flipkart could entirely convert some stores into fulfilment centres. Walmart started its operations in India in…
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Written By Samreen Ahmed Grofers, which has a strong play in the private labels segment across categories, is likely to follow this strategy in the fashion segment Grofers is replicating this BigBazaar kind of model giving more options to increase the amount of spending they get from households, says Meena. Online grocer Grofers started selling apparel and footwear for better margins. Grocery forms the largest chunk of consumer spending and highly competitive but fashion offers better profits, according to ecommerce experts. “From a scale and stickiness perspective grocery as a segment is very attractive but from a margin perspective, it…
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