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Aditya Birla Fashion and Retail on Monday reported a consolidated net profit of Rs 58.55 crore for the quarter ended December. The company had posted a net loss of Rs 37.64 crore in the corresponding period of the previous fiscal, as per a PTI report.
Total income stood at Rs 2,133.14 crore for the quarter under consideration, down 17.87 per cent as against Rs 2,597.34 crore for the same period year ago, Aditya Birla Fashion and Retail said in a BSE filing.
The company said Q3 saw a significant acceleration of business recovery along sequential quarters; consumers started coming back to stores and continued to buy more online due to buoyant festive mood and visibility of a declining infection spread.
The pace and extent of recovery that started with the opening of stores in Q2 was amplified on the back of a large pent up demand, strong festive spirit and a concentrated wedding season, the company added.
The company said it is confident that the business recovery will continue as the impact of the pandemic wears down over the next few quarters and expects to resume its consistent growth trajectory next year.
“The company remains focused on leveraging its strong brand portfolio, evolving its product profile in line with changing consumer preferences, and expanding its reach.
“On the business front, a sharp focus on cost and a persistent control on leverage will continue to guide its business model, going forward. The company, therefore, is poised to emerge stronger from the pandemic,” the company said.
Shares of Aditya Birla Fashion and Retail in late afternoon trade declined 1.20 per cent to Rs 164.70 apiece on BSE.
Explaining the relevance, Sanjay Vakharia, Chief Executive Officer, Spykar Lifestyle says, “As we all know, India is a country with a population that has relatively meager resources, and hence to them, it is important that retailers provide solutions which are more value for money and relatively long lasting and ones which need low maintenance. On all these attributes, denims score very high. They need not be washed as much and as many times; they never die, just fade, and last really long. And in recent times, the category and the industry has also initiated multiple initiatives to conserve resources and contribute to a healthier and less polluted planet. It seems that jeans are here to stay, due to the versatility they offer.”
Highlighting another interesting point Chatlani adds, “Brands are also constantly evolving. From being a pure ethnic player in the initial days, Soch has today transformed into a stylish designer brand that retails fusion products such as tunics, palazzos, fusion suits and stoles, apart from traditional staples such as salwar kameez, kurtis and sarees, at affordable prices.” ‘
On the rise of brand consciousness, Vakharia adds, “The inclination towards branded denims is increasing among consumers. Buyers are getting quality and style conscious. We also see increased penetration of denims happening in the lower tiers of the country, due to rising aspiration levels.”
Apart from ready to pick garments, Salt Attire offers bespoke clothing, tailored to customer measurements, based on an on-demand manufacturing model at no additional cost. Most of the brands in India offer sizing based on International sizing charts which can several fit issues for Indian bodies. Salt Attire’s tailored fits help customers tailor the items to their body measurements and with this experience store, one can get hands-on help and guidance to attain the perfect fit.
But it’s only lately that the sustainability concerns of producing this beloved blue fabric has come to the forefront. Denim production typically involves use of dangerous chemicals to grow conventional cotton and creates millions of gallons of waste water in the dyeing process. A study by Levi Strauss & Co found that producing one pair of Levi jeans requires a staggering 3,781 litres of water. With 10 percent of the world’s population currently deprived of access to clean water, these statistics put an alarming perspective on our own denim purchases.
Sustainable fashion matches the philosophies of “slow fashion”, a fashion production which is lo-cally embedded, slow in terms of production cycles, with a quantity of produced goods that corresponds to demand and without overproduction. It utilises eco-friendly and qualitative materials, yet it is not cheap, the idea being to stimulate prolonged use of the clothing.
Since their launch in India, Only and Vero Moda – a part of Bestseller– have become synonymous with contemporary fashion and designs, which young women across the world desire. The brands off er a range of fits, textures and washes when it comes to jeans, so that their consumers have an ideal option to choose from for various occasions–right from casual wear to work wear.
North India’s noted ethnic fashion retailer Frontier Raas, to promote the sustainability and the offerings from the handloom weavers, has recently executed a window that features thread spindles as chandeliers. Executed at their South Extension outlet, the scheme will now be taken to all their stores including one in London.
Speaking about the partnership, Vasanth Kumar, Managing Director – Lifestyle International Pvt. Ltd. said, “This collaboration brings together Flipkart Group’s extensive reach and Lifestyle’s high fashion offering, thereby enabling us to serve a larger number of fashion-conscious consumers, across the country. Our strong private label offering with a wide variety of styles and trends across categories of apparel, footwear and fashion accessories distinguishes us from the rest in the market. United by a common goal of providing customers with a unique & memorable shopping experience, we are confident this partnership will help to further expand our brands’ reach, catalyzing a sharper growth trajectory for these brands.”
With the concept store, the brand is seeking to replicate this digital experience by making shopping for a bra more convenient and more educational, so women have the knowledge and support they need to know how a bra should properly fit. The brand is testing different fitting room concepts, including rooms with small openings at the back, for passing items without the shopper having to open an awkward curtain. Larger fit rooms will also be available for women who want a more high-touch fitting experience. All the rooms will be equipped with an evening and daytime lighting system.
We currently have studios in New York, Delhi-NCR (Noida) and Tirupur. Every two weeks we put up across 100 new fabrics from the innovators here. We also work towards innovations in the field of fast fashion since we have identified a gap in India. 10 percent of our value chain only concentrates on innovating here, so that we can market a sustainable product with a 45-day turnaround time.
Denim has always been one of the leading segments in the apparel industry. Factors like young population demographics, rising disposable incomes, high spending power, booming Internet retail and the growing influence of Western trends in the country is fueling the growth of this segment.
Water consumption isn’t the only ethical concern with denim. While cotton takes up 2.4 percent agricultural land, it accounts for more than 11 percent of the global pesticide use. In addition to the pesticides used in cotton production, harmful chemicals may also be used extensively in denim’s dyeing process. All too often, the jeans are sewn in factories where employees work and live in substandard conditions.
Fila has always intertwined fashion and culture and uses its history and heritage to add to the nostalgic fashion quotient. With its recent collections, the brand has given athleisure look a retro feel from the 70s and 80s including inspired track jackets and chunky dad sneakers.
“We are excited about how the customization market is picking up in India. Customization is the future of every consumer business and online is the channel future. Being the pioneer in their field, Alma Mater Store is ready to take up new challenges and we are delighted to be associated with them,” said Harminder Sahni, Founder and MD, Wazir Advisors.
Skechers currently operates close to 230 stores. We are practically opening a store every fourth day in India. By the end of 2019, we are looking at close to 300+ stores in India across metros and mini-metros. Our stores are largely franchisee operated and the average size is around 1,500 sq. ft., with the biggest one being approximately 8,000 sq. ft. We are also available online through our own website.
Denim looks cool, is comfortable and requires less maintenance, hence it naturally became the go to fashion statement of men around the world. Over the last 150 years, denim’s evolution trajectory has been acutely ephemeral, yet what has stood the test of time is its growing popularity and consequently, the bludgeoning market share across the globe.
Abhishek Agarwal, Founder, Purple Style Labs added, “The Indian fashion industry is now being recognized globally. When we started PSL in 2015, the vision was to create a platform for Indian fashion, which is currently highly fragmented across designers. We aim to aggregate this fragmented supply, curate assortment which enables discovery of high-quality products, channelize demand creatively and permanently solve the critical pain-points associated with the industry. We are also looking to invest in early-stage Indian designer brands as a part of a long-term strategy to significantly augment supply, distribution, inventory and reach.”