Reliance Retail has started a backend test launch of Chinese fast fashion label Shein, starting with its fashion and lifestyle platform Ajio, four-and-a-half years after the Indian government banned the label. “Shein has begun testing and cataloguing its casual women’s westernwear on Ajio, which it may gradually roll out to other platforms,” said an executive…
This week in tech, significant developments made headlines across the globe. The tech industry continues to face challenges, with over 149,000 workers losing their jobs in 2024 amid economic headwinds. Intel announced the retirement of its long-serving CEO, Pat Gelsinger, signaling a major leadership shift at the semiconductor giant. On the cybersecurity front, the Indian…
Representative image Ethnic wear startup Suta saw its operating revenue increase 33% to Rs 75 crore during the financial year ended March 31, from Rs 57 crore in 2022-23. The Mumbai-based company’s consolidated net profit fell more than half to Rs 73 lakh from Rs 1.5 crore a year ago. The decline in profit was…
New Delhi: Fashion-tech platform Virgio, founded by the former CEO of Myntra, Amar Nagaram, aims to become a house of brands by foraying into multiple fashion categories. Talking to ETRetail, Nagaram said, “We are solving the building blocks of how a fashion-tech company should be. We’re looking at other categories such as ethnic-wear. As a…
Flipkart-owned Myntra is expanding into the Gifting category with a selection of 70,000-plus options to choose from. Myntra claims that its foray into the segment aims to solve for the need for a single credible platform that brings together choicest, unique yet meaningful gift options. Brands like Giva, Swarovski, Victoria’s Secret, Calvin Klein, Kama Ayurveda,…
The Pant Project, a fashion brand specialising in custom-made and ready-to-wear pants, has raised $4.25 million in its maiden funding round led by Sorin Investments, an early-stage investment firm founded by former KKR India chief executive Sanjay Nayar. The round also saw participation from marquee investors MGA Ventures, Huddle, Dexter Ventures, and Indian Silicon Valley,…
Mumbai: Fashion brand Powerlook Apparels on Monday announced the opening of its two new offline stores in the city and said it plans to invest Rs 50 crore in expanding the number of such outlets in the country to 50 by 2027. The fashion brand currently has a presence on leading e-commerce websites Myntra and…
Myntra New Delhi: French apparel brand, Kiabi has inked pact with Myntra to enter the India market, it said in a press release on Wednesday. The company said it will have an online brand store on the Myntra app that will help strengthen its position in the Indian fashion market. Francois Haimez, international leader, Kiabi…
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…
Representative image New Delhi: Cultfit’s D2C arm Cultsport, which sells sportswear, indoor fitness equipment, cycles, and more is betting on offline as a key channel as it plans to open an exclusive brand outlet every month, shared a top official of the company. Talking to ETRetail, Shamik Sharma, business head, Cultsport said, “We have over…
