Sagar Malviya, Economic Times January 5, 2024 Top global apparel and fast fashion brands appear to have struck a strong chord with young customers, racking up sales growth of anywhere between 40% and 60% in FY23, bucking the trend in a market where the overall demand for discretionary products slowed down. For instance, Swedish fashion retailer H&M and rival Zara reported a 40% increase in its topline while Japanese brand Uniqlo saw a 60% jump in sales. American denim maker Levi Strauss and British brand Marks & Spencer posted a 54% increase, latest filings with the Registrar of Companies showed.…
Akshit Pushkarna, Afaqs 12 December 2023 The season for Indian weddings, usually spanning October to December, experienced an unusual twist due to Hindu calendar nuances this year, resulting in a shorter duration. The unexpected shift has upended the conventional decrease in marriage ceremonies, resulting in a condensed surge of weddings. A report by the Confederation of All India Traders (CAIT) anticipates Rs 4.74 lakh crore in business earnings from the 38 lakh marriages expected this wedding season, marking a historic high. In comparison, the corresponding period last year witnessed around 32 lakh weddings with total expenses amounting to Rs 3.75 lakh…
Christina Moniz, Financial Express December 7, 2023 Aditya Birla Fashion and Retail (ABFRL) on Wednesday announced a partnership with Christian Louboutin, a designer brand known for its signature extremely high red-soled heels. As per the terms of the deal, the current Indian business of the luxury shoemaker will be transferred into a newly-incorporated arm of ABFRL where the partners will hold equal stakes. Ashish Dikshit, MD, ABFRL, said in a statement, “This partnership… exemplifies our ambition to develop and shape the future of the luxury market in India.” Christian Louboutin made its entry into the Indian market with its first…
Sharleen Dsouza, Business Standard Mumbai, 6 December 2023 Godrej Consumer Products is test marketing its liquid detergent under the brand name ‘Fab’ in South India. While this is not the company’s first move in detergents, the launch is expected to give it a bigger play in the category, especially with a competitive price point of Rs 99 a litre. The company already has Godrej Ezee for winter wear wash. Some other fast moving consumer goods (FMCG) companies are also entering new categories which are allied to their current businesses. Companies are chasing low-penetrated categories which offer high growth both in…
Sharleen Dsouza, Mumbai 3 December 2023 Hindustan Unilever (HUL)’s decision to split its beauty and personal care division and place a renewed focus on digital has been driven by its aim to serve the consumer of tomorrow, say analysts and brand experts. HUL Managing Director and Chief Executive Officer Rohit Jawa is looking to make the company ‘future ready’, and while these bets are not for the short-term, they will eventually pay off as the Indian consumer is young and digital friendly, they add. “Rohit Jawa comes with digital experience and he is preparing to steer HUL into serving the…
Geopolitical friction has again sparked renewed concerns over inflation and rising input costs for FMCG companies as @itmeansjustice @whysnavi write. @devangshu commented.
