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Competition Commission of India (CCI) on Wednesday said it has approved the acquisition of 7.8 per cent minority stake in Aditya Birla Fashion by Flipkart Investments Private Ltd (FIPL).
Aditya Birla Fashion had in October last year approved plans to raise Rs 1,500 crore by issuing a 7.8 per cent stake on a preferential basis to Walmart-owned Flipkart Group, according to a PTI report.
“Commission approves acquisition of a 7.8 per cent minority stake in Aditya Birla Fashion and Retail Ltd by Flipkart Investments Private Ltd,” the regulator said in a tweet.
With this infusion, Flipkart Group will own a 7.8 per cent equity stake in ABFRL on a fully diluted basis. The promoter and promoter group companies of ABFRL will hold about 55.13 per cent upon completion of the issuance, ABFRL said in a regulatory filing earlier.
Aditya Birla Fashion and Retail Ltd (ABFRL) is engaged in the business of manufacturing and retailing branded apparels, footwear and accessories, through its retail stores, multi-brand outlets, departmental stores, online retail platforms and e-commerce marketplaces, across India.
FIPL is a wholly-owned subsidiary of Flipkart Private Limited (FPL), and FPL belongs to Walmart Group.
Walmart Group undertakes various business activities in India, such as wholesale trading of products, providing e-commerce marketplace services, and digital payments services.
Separately, the fair trade regulator cleared Ares SSG Capital Management (Singapore) acquisition in Altico Capital India.
“Commission approves acquisition of Altico Capital India by Ares SSG Capital Management (Singapore),” it said in a tweet.
The shirt market has witnessed diversification in terms of colour and fabrics too. Retailers today provide the customer with a wide range of choices in colours, styles and patterns. Cotton/ cotton blends shirting is expected to grow faster than overall shirting market due to growing preference of cotton amongst consumers due to higher comfort and quality factors. At the same time, new fabrics such as linen have also witnessed demand in the recent years.
“It has never been a more exciting time than now to experiment with maternity fashion wear with so many women looking for fashionable attires even during pregnancy. Currently, the maternity wear industry is estimated at Rs 2,000 crore and the segment is growing around 15-17 percent year-on-year. We are looking to hone in on this opportunity and grow our brand in a big way,” says Rajat Kapoor, Master Franchisee & India Head.
Innovation for us is the essence of change, where we bridge the gap between the consumers and the industry, with best ideas possible. We have always strived to come up with creations that would add a shade of innovation to our patron’s lives. It is essential to marry the idea of innovation with age old traditions, in order to create a bracing impact. Starting from the knit to the shade, we try to emulate the pulse of the current times.
The customers 10 years ago, had minimal exposure to fashion as compared to the present scenario. Also, the accessibility of internet lacked which today plays a crucial role in bringing fashion trends across the globe with ease. Today, fashion influencers have risen to prominence, the number of apps in our social media rotation has quadrupled, the way that consumers make purchasing decisions has dramatically altered: they stand in stores, using their smartphones to compare prices and product reviews. All these aspects have created an impact on the fashion orbit.
Delving deep into the Indian roots, and yet retaining the uncompromising standards of international menswear, Minizmo is the perfect option for the man looking for high fashion and made-to-measure charm. The design aesthetic takes into account the unerring quality of fabrics and construction; all coupled with a mastery of pattern making, they come with a strong backend sourcing where one can chose from a wide range of fabrics and designs. They offer customization of clothes and personalised customer service and not to forget the home visit services by Minizmo gives everybody a chance to explore and experience made to measure with advantages of having intricate details in the garment with top notch of fabric and construction.
To think of the fashion industry emulates a host of characteristics, where focusing on any singular one would create a vast gap in the growth of the industry. Hence, while India has help proficiency in manufacturing, it needs to embolden it’s grasp over marrying the cause of fashion with technology, while improvising on it’s already brilliant base of design proficiency.
The rapidly expanding Indian retail market, backed by factors such as strong fiscal and economic measures, rising disposable income, etc., is resulting in increasing consumer spending and increasing workforce. As a result it is witnessing some major shifts and growth in the recent years. Amidst this growing market, fashion retail stands out as one of the largest and one of the most rapidly growing categories.
In recent years, companies have continued to focus on building their online presence through both e-commerce marketplaces as well as their own digital platforms, thus seeking to tap into consumer demand for convenience, revealed the India Business of Fashion Report 2019 released at the forum.
The customers today require fast fashion in which we need to turn around a lot faster than we used to in past. This has naturally led to the product being versatile and in line with the latest trends. As the customer is well informed and well-travelled, quality at no cost can be compromised, as pricing has taken a back seat.
The first locations chosen for the mono-brand stores include Mumbai, Bangalore, Goa, Chennai, Pune, and Cochin. This will be accompanied by intensive cross-platform marketing and PR campaigns, the company said. Havaianas will be available a shoe specialist, department stores and e-commerce platforms.
Today’s fashion market is highly competitive and the constant need to ‘refresh’ product range means that there is an inevitable move by many brands to extend the number of ‘seasons’, that is, the frequency with which the entire merchandise within a store is changed. With the frequent replenishment of merchandise with fresh collection, brands are encouraging consumers to visit their stores more frequently with the idea of ‘Here Today, Gone Tomorrow’.
India has an immense creative side when it comes to fashion. Over the centuries, Indian fashion industry has contributed greatly to the global fashion world with both in terms of both adding to its economy as well as giving its ensembles that have been worn by generations. International fashion designers have utilised Indian prints and textiles over the years, as well as emulate some of the traditional silhouettes in an exciting and modern way.
Satyen has a successful track record in building a strong profitable business and achieving market growth objectives. At Celio*, he spearheads the retail business right from operations and management to marketing activities and revenue generation and is also responsible for the growth and development of Celio* in India.
As Millennials join senior management in corporate India, tech-enabled solutions that offer window shopping will increase the need for fashion brands to adapt to digital solutions and offer a novel online experience as well. Traditionally, Indians are still accustomed to window shopping online and then making a big ticket purchase in-store. The next phase of the industry will see an amalgamation of online and in-store experiences with more in-store technologies that enhance the overall retail experience. Adoption of digital marketing displays in the store, improved check out experience and the use of augmented reality for displaying outfits on consumers are just a few novel experiences that the retail industry will adopt to attract more customers.
A very important skill set that is in great demand is the understanding of the needs of the customers. It is important for the brands to follow the trend and be aware of what is going around them to be able to give the maximum to their customers.16. SHARAD VENKTA, MD & CEO, TOONZ RETAIL
This year, The Woolmark Company demonstrated the versatility of Merino wool through its extensive and novel use opportunities. The first ever wind- and water- resistant Optim™ fibre jacket, seamless wool yoga apparels, Merino wool shoes and Knitwarm®, a first-of-its-kind, patented self-heating textile, will be on display. The Knitwarm® fabric has the capability to heat up within 30 seconds to offer instant warmth by plugging into a portable power bank.
Sustainability and consciousness throughout the supply chain would be very important going forwards. The Government is already taking measures with regards to waste disposal, environmental treatment of by products and use of plastics. I think simple, clear and stable policy changes would be benefi cial for the ecosystem as a while.13. ROHAN BATRA, MD, CRAVATEX BRANDS (FILA)