Driven by millennials and Gen Z population, the Indian fast fashion industry is projected to reach a massive $50 billion market by FY31, a report showed on Tuesday. Bengaluru: Driven by millennials and Gen Z population, the Indian fast fashion industry is projected to reach a massive $50 billion market by FY31, a report showed…
(Representative Image) The post-pandemic surge in global sales of luxury handbags, shoes and apparel is set to stall this year amid a creativity crisis and price hikes as brands shift focus to the biggest spending customers, a new study by the Bain consultancy said Tuesday. Bain is forecasting flat worldwide luxury sales in 2024 following…
Representative Image New Delhi: The Fashion and Apparel sector has emerged as the frontrunner in India’s retail landscape, accounting for an impressive 40 per cent of the real estate leasing activity in Q1 2024 (Jan-March). According to a JLL report, this surge was led by mid-segment brands, which captured a significant share of 40 per…
LONDON: Fast fashion retailer Shein, known for its China-made $5 tops and $10 dresses, has hiked prices by over a third on some core products, in a move likely to boost revenues ahead of its planned IPO, according to an analysis of its pricing strategy. Shein’s average price hikes exceeded those of its rivals H&M…
Zara owner Inditex grew its sales by 7% in the first quarter of its fiscal year, it said on Wednesday, in line with analysts’ expectations. The performance represented a slowdown from a year ago when it benefited from a post-pandemic shopping spree. Inditex, which also owns Pull&Bear, Massimo Dutti and other brands, is attempting to…
Online fashion firm Shein is preparing to file a prospectus with Britain’s Financial Conduct Authority for approval ahead of a potential London float which could value it around 50 billion pounds ($63.70 billion), Sky News reported on Sunday. The confidential filing could take place as soon as the coming week, the report added, citing sources….
Abercrombie & Fitch raised annual sales growth forecast and beat first-quarter estimates on Wednesday, expecting new and on-trend apparel and accessories to drive demand at its Hollister and namesake brands, sending its shares up about 13%. Refreshing styles in low-rise baggy pants and wide-leg jeans to appeal to picky shoppers and relying less on discounts…
MUMBAI: Spain’s Inditex, the owner of fashion brand Zara, saw its slowest ever sales growth in India, excluding the pandemic year, in FY24 as the world’s largest fashion group faced rising competition from global rivals in the clothing market that is increasingly getting cluttered. Inditex Trent, its joint venture with Tata that runs 23 of…
Representative image France is proposing a European Union ban on exports of used clothes, the environment ministry told Reuters on Thursday, as governments look for new ways to tackle the worsening problem of textile waste. United Nations trade data shows the EU exported 1.4 million metric tons of used textiles in 2022, more than twice…
India’s Arvind Fashions reported a 18.9% rise in the second-quarter profit on Tuesday, aided by healthy sales of clothing and footwear and as power brands helped it maintain wider margins. The Bengaluru-based company’s consolidated net profit rose to 216.6 million rupees ($2.60 million) for the quarter ended Sept. 30 from 182.2 million rupees a year…
