Britain‘s Superdry said Chief Financial Officer Shaun Wills will step down at the end of March, while the struggling fashion retailer reported a wider half-yearly loss on Friday as unusual weather snubbed sales amid a cost-of-living crisis. The retailer named Giles David as its interim CFO, effective Jan. 29. The London-listed company recorded an adjusted…
Representative image. Chandigarh: Ludhiana‘s famous hosiery sector is staring at losses because of weak demand for winter garments this season, as many manufacturers say they faced lack of repeat orders as well as return of stocks from traders in many states. Hosiery goods manufacturers also blame dumping of China-made winter wear items, available at much…
Representative image Demand for lifestyle products and apparel remained weak despite retailers offering discounts of as much as 65% during their ongoing end of season sales (EOSS). Most brands also advanced their EOSS by two weeks to early December compared to January, hoping to mop up sales before ecommerce platforms begin their Republic Day sales….
New Delhi: Nykd, Nykaa Fashion‘s private lingerie label, has reached a significant milestone by crossing the Rs 100 crore revenue mark, shared a top official of the company, without commenting on the revenue target for the end of the fiscal. Last financial year, Nykd reported a revenue of Rs 84.9 crore. “We have already crossed…
Representative image. Kolkata: Demand for woollens and thermal wear have declined by 30% year on year this season mainly due to late arrival of winter, prompting knitwear makers to slash production by up to 50%. Dealers and distributors are unwilling to pick up new stocks as they are yet to offload last year’s stock, and…
The textile mill associations on Friday sought financial support measures for India’s spinning segment which is hit by the prolonged Ukraine-Russia conflict, the recent Israel-Hamas war, an 11% import duty on cotton and issues related to Quality Control Orders on man made fibre. Citing a 50-70% drop in capacity utilization 50% to 70%, the Confederation…
Renowned as a hub for readymade garments, Indore has been seeing a steady demand for the apparel category in the festive and wedding season over the last few months. The city, as per estimates, is home to over 2500 small and medium-sized garment manufacturers. As per a report in The Times of India, demand for…
Until the rise of online retail, you might have been forgiven for thinking that all apparel was shipped in burlap sacks. Those wanting their garment spending to be sustainable these days can take comfort in reusable wooden hangers, paper shopping bags, and recycled fibres. The only glimpse of plastic in many fashion stores is the…
Representative image The Synthetic and Rayon Textiles Export Promotion Council has sought higher duty drawbacks, rebates of State and Central taxes and levies (RoSCTL), and Remission of Duties or Taxes on Export Products (RoDTEP) citing delays and steep increase in freight rates and insurance premium due to the crisis in the Red Sea. Red sea…
Minu Margeret, founder and CEO, Blissclub BlissClub, a direct-to-consumer (D2C) activewear brand focussed on women saw its operating revenue surge more than four-fold to reach Rs 68 crore in for the financial year ending March 31,2023, even as losses mounted. The Bengaluru-based startup registered losses of Rs 36 crore, up four times compared to the…
