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News Headlines ....[Last
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July
04,
2009
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News Snips
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Koutons Retail India Ltd., despite recessionary trends, has reported net sales of Rs. 1046.68 crore in the FY 2008-09, a growth of 31.91% compared to Rs. 793.46 crore in the last fiscal. The net sales for 4th quarter ended March 31, 2009, stood at Rs 377.50 crore, with a marginal increase of 1.68% to last year.
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S Kumars Nationwide group company Brand House Retail said that its JV with Italian Fashion brand Oviesse will invest Rs. 161 crore for opening 190 stores across the country in the next five years. The agreement, signed last fiscal, allows BHRL to hold a majority stake of 62.5% in it.
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Pantaloon Retail, expecting the demand this festive season to double, will bring two crore apparel units to its warehouses against one crore units it procured last year. The upcoming festive season will be good for lifestyle retailers feels Pantaloon Retail. Meanwhile, the retailer has terminated its JVs with Planet Retail Holdings and Blue Foods chain of restaurants.
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Kishore Biyani-led Future Group will foray into real estate business for building ready-to-move-in houses. The company has signed a 50:50 joint venture with Kolkata-based developer for ‘branded apartments’ that would be available at an affordable cost
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Koutons Retail India Ltd. is reducing its promoters’ shares which were pledged up to 60% at one stage by offering them real estate assets in lieu of Koutons. This will bring down the pledged portion of the promoters’ stake to 23%. The company is also foraying into the Middle East this year by opening exclusive outlets.
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S Kumars Nationwide Ltd. (SKNL) will soon become clothiers to US President Barack Obama. It is acquiring Chicago-based company Hartmarx for $ 119 million (Rs. 560 crore) by raising $ 60 million (Rs. 282 crore) from overseas banks. Under the new strategy, SKNL will take Hartmarx’s 34-odd brands to other international markets. It also plans to open exclusive Hartmarx outlets in India.
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Pantaloon Retail India, a Kishore Biyani-led company, has clocked over 14% YOY sales growth in May from home and lifestyle retailing segments. The company also plans to open nine additional Central malls by December 2009.
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Parafern Garments, a Tirupur-based apparel manufacturer, is aiming to garner revenues of up to Rs. 30 crore in first year from its corporate logo T-shirts and leisure wear brand – Corporate Identitee. In India, the company is taking the first infant step.
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Arvind Brands is introducing more international brands this year and ramp up its retail presence across the country. The initiatives are part of the Rs. 400 crore investment plan announced last year, out of which Rs. 100 crore has already been invested.
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Reid & Taylor, a subsidiary of S Kumars Nationwide Ltd., is focusing more on domestic sales this year as it increased by 40%. It also plans to scale down its exports which account for just over 10% in current year and likely to go down further in subsequent years.
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Aero, the men’s wear brand from US will be opening 21 new stores in India this fiscal. The brand is also soon entering into the women’s wear. Arvind Brands, the subsidiary of Arvind Limited, holds Aero Brand license in India.
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Zudaas France, manufacturer and retailer of kids’ fashionwear and apparel, will open 250 outlets across India this fiscal and become a Rs. 200-crore company by 2010-11. At present, the company has 57 stores in the country.
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Features
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Features
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Articles
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Bombay Rayon Fashions To Expand in Trims… Start with Polyester Buttons
Features
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1
Jul
2009
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Bombay Rayon has been in the news for quite some time now for a variety of reasons. No one can deny its exponential growth in the world of textile and clothing from the time it acquired Leela Scottish. The confidence is reflected in the way the company is establishing itself as an integrated set up from fabric to garmenting and the most recent expansion has been trims manufacturing… to have better control on quality and lead times. The first category in trims they opted for is polyester buttons.
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Sourcing with Ownership in a Sustainable Value Chain
Features
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1
Jul
2009
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Sourcing operations have become almost as complex and challenging as apparel manufacturing and exports with international retail becoming a highly competitive marketplace. Gone are the days when buying agencies were ‘bosses’ who could sit back and dictate terms to the suppliers, now sourcing is about relationship building and long-term partnerships to overcome any global tremors that disturb the buying cycle.
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Buyers Upbeat for 2010; Caution Exporters to be Prepared for Further Price Cuts
Features
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1
Jul
2009
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Things certainly seem to be looking up for the Indian apparel industry, though tangible signs are still to emerge and buying for S/S 2010 will happen only after another two months in September/October, the feel is definitely more positive. Exporters are less edgy and buyers are looking to invest in stock after two slow seasons. It is just the right time to talk to the local buying offices on how things are moving and what they expect from programmes for S/S 2010
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Nothing Earned, Nothing Gained
WorldWrap
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1
Jul
2009
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The luxury business by looking at all the statistics is off by 25% and more. The new FASHION that is the key to excite consumers seems to be hiding behind very tough economic times. Seems RETRO looks are being talked about, but not with great enthusiasm. With proper aggressiveness, now is the time India Textile/Apparel Industry, could capture new territory in the US marketplace.
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Luxury Market Scales Down to More Realistic Levels; Sales Drop 10% in 2009
WorldWrap
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1
Jul
2009
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The luxury market is not unaffected by the downturn, and at a time when just being able to afford the rent seems like a luxury, purveyors of high-end jewels, fashion and handbags are facing challenges like never before. Sales of luxury goods, which are expected to drop 10% this year, will not recover fully until 2012, according to a new report by Bain & Co., as austerity and understatement remain the “must-have” items of the rich and fabulous
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‘Buy American’ Provision Creates Uncertainty Both in the US and among Trade Partners
WorldWrap
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1
Jul
2009
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On 28 January 2009, the US House of Representatives passed the American Recovery and Reinvestment Act of 2009. A small phrase hidden in the bill’s 700 text pages, attracted enormous media attention: The section requiring that all public projects funded by the stimulus plan must use only iron and steel produced in the United States. The US Senate draft includes a broad Buy American provision that goes further than the House Bill, expanding the requirement to all manufacturing products.
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The topic under debate for the next issue is :
After seeing the Karstadt Quelle/Li & Fung case, in which more than Rs. 170 crore are withstanding in payments, do you think it’s time for the Indian exporters to come together along with a special government body to deal with such situations?
What are the remedial measures against buying agencies which do not support vendors at such times and leave the manufacturers in doldrums?
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details
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