Representative image Mumbai: India’s Vishal Mega Mart is planning a $1 billion initial public offering that would value the budget supermarket chain at up to $5 billion with some of the proceeds earmarked to add stores, two people with direct knowledge of the plan said. Switzerland’s Partners Group and India’s Kedaara Capital, which together have…
Investors want Zara owner Inditex to follow rivals H&M and Primark in making its full list of suppliers public so they can better assess any supply chain risks. Inditex is an outlier among big clothing retailers in not publishing which factories it sources from. Regulators and investors want greater transparency and better disclosure from companies….
Superdry on Monday confirmed that it was in talks with lender Hilco to provide additional liquidity, as the struggling British fashion retailer looks to navigate weak demand. The company said it is in discussion to increase its lending facilities by about 10 million pounds ($13 million) and an additional 10 million pounds to meet seasonal…
Representative umage Indore: Readymade garment manufacturing units of Indore saw a decline of more than 40 per cent in orders as against the corresponding period ahead of the peak demand season starting Eid due to the 45-day timely payment obligation for MSMEs. Payments to MSMEs will be required to be done within 45 days starting…
Siddharth Dungarwal, founder, Snitch New Delhi: D2C men’s fashion brand, Snitch has achieved gross merchandise value (GMV) of Rs 400 crore and is aiming to touch the milestone of Rs 600 crore GMV by the end of the fiscal year 2024, it announced in a press release on Wednesday. The brand claims that it has…
Representative Image New Delhi: Globe Textiles India Limited (GTIL), a frontrunner in the textile industry engaged in manufacturing, supply, and trading of a wide array of textile and apparel products, including Denim jeans, Shirting fabrics, and cotton printed fabrics, has announced its ambitious plans to acquire Globe Denwash Private Limited through the purchase of shares….
Representative image Kolkata: Shying away from e-commerce platforms, leading apparel retailers in the city are coming up with their own online channels. The retailers state that higher discounts on e-commerce platforms trigger price disparity, thus affecting sales at offline stores. This has prompted the retailers to draw up a new business strategy focusing on multichannel…
Abhineet Singh, Cofounder, VegNonVeg Streetwear brand VegNonVeg is eyeing to close FY25 with Rs 175 crore revenue, Abhineet Singh, co-founder, VegNonveg told ETRetail in an interaction. The brand, which clocked Rs 85 crore last fiscal, is aiming to close this fiscal with Rs 110 crore in revenue. “With the new doors opening and focus on…
Apparel maker Under Armour raised its annual profit and margin forecasts on Thursday, betting that easing input and freight costs would help offset weak demand in North America, sending its shares up 6%. The company is leaning on lower production costs to drive up profit at a time when demand for its apparel and footwear…
The Tiruppur apparel industry is on the brink of a labour crisis as thousands of migrant workers from Uttar Pradesh are returning to their homeland amid increasing job opportunities there, particularly after the inauguration of the Ram Mandir in Ayodhya. Migrant workers constitute half of the estimated 600,000 workers at apparel units in this textile…
