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Myntra announces launch of the ‘Big Fashion Festival’

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Myntra announces the launch of the ‘Big Fashion Festival’. The next festive season’s ultimate fashion shopping experience is set to take place between 16 and 22 October. The apparel major is expected to give its customers 9 lakh designs from a range of 5000+ labels. And the pricing of the apparel would be something one has never witnessed before. The app is expected to appeal to over 4 million unique customers. Also a 2X rise in traffic over the previous festive season as part of the seven-day ‘Big Fashion Festival’.

Myntra’s holistic approach to its marketing strategies is projected to meet 150 + million people across the. They are also targeting Bollywood, Tollywood and other regional celebrities, along with top T20 teams. A huge rise in demand, at 4X over BAU and 2X over the last festive season. With 50 per cent of the contribution coming from tier 2-3 markets, is expected to witness the largest edition of fashion festival.

On October 16, beginning at midnight, there will be a ‘Grand Opening Hours’ promotion for 2 hours. Including the best value offers from top brands such as Puma, Vero Moda, GAP, Roadster, Nike, Levis and more. Myntra has now added a ‘Play & Earn’ feature where users can play games and redeem their stars to get the Gold slot that will give them a 4-hour shopping window before the event starts.

“Amar Nagaram, CEO, Myntra, speaking about Myntra’s upcoming Big Fashion Festival, said,” Myntra’s Big Fashion Festival will give consumers across the nation a specially selected range of 9 lakh styles, waiting to bond over the joy of holidays. The region-specific collection will encourage millions of customers to enjoy the country’s festive diversity with diverse fashion choices.

Travel Bubble to continue till March-April

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Union civil aviation minister Hardeep Singh Puri, reacting to questions on travel bubble arrangements on Thursday at a press conference, said that the future of foreign flights is highly contingent on the availability of a vaccine. It is hard to tell as there is no nation that has completely opened its doors to everyone.  It depends on the availability of a vaccine, and if a vaccine is there, countries will be more secure. Hardeep Singh Puri said during the press conference that the suspension could continue until March-April.

Air bubbles are special agreements between countries that allow passengers to be transported by airlines from both countries. Until 31 October, regular international passenger flight services were discontinued. To get more information about the travel bubble read our previous articles about it.

He explained the major three problems are being faced right now. One is to resume domestic communication that links larger towns to a smaller town, as we have already done. Second, the nature of the virus that I can’t elaborate on, and the third is international limitations. Each nation wants its citizens to return, but there are plenty of restrictions for others,’

He also claimed that from 65 per cent capacity, domestic airlines would be able to raise their capacity to 75 per cent soon. “No deadline is here. Although as the domestic figures are increasing, this will happen quickly. Before that, I said that between Diwali and New Year, the domestic pre-COVID number will be achieved. “Now I am sure that we will be able to reach the pre-COVID figure by the first quarter of next year,” the portal confirmed to the civil aviation minister.

H&M revenue rises by 14 per cent to 1700 crores

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In 2019, fashion retail chain H&M reported revenue of Rs 1,700 crore, 14 per cent higher year-on-year,  from Rs 1,490 crore a year earlier. The Swedish brand has continued to expand its market in India by double digits since its entry in 2015. In 2019, however, its growth dropped dramatically from the previous year. Its top line increased to 43 per cent in 2018.

Recently also the H&M added a new member discount in India. With the pandemic of Covid-19 and lockdowns seriously affecting on-floor shopping. On its short-term ambitions, the effect was also felt. Although it launched eight and 12 stores in 2018 and 2019, it only opened two outlets in Bhubaneswar and Lucknow this year. This will bring the shop count to 50, distributed across 25 Indian towns.

“We experienced a revenue loss of 31 per cent during the first nine months. Our activities here are actually at the 50 per cent mark. I don’t think we’re going to be able to hit last year’s 2020 revenue estimates”, ‘said Janne Einola. H&M uses a schedule for the financial year from December to November.

In 2019, the Myntra marketplace and its own online store received about a quarter of their revenue from the two online platforms. “For the moment, the share of online providers will remain high until the situation normalises,” Einola said.

Karnatala, the historic Saree brands looks to increase online sale

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In Andhra Pradesh and Telangana, Kankatala is one of the oldest saree brands. It has served the age-old weaving techniques for more than 7 decades. The brand has been popular throughout the world among the Indian diaspora who once visited the shop in India. And now the brand also has an online portal to target other customers.

As retail shopping came to standby thanks to COVID-19, everyone shifted to contactless shopping as it is safer. The company has been adding approximately 150 new sarees per week to complement the demand from saree lovers. The brand managed to sell more than 2,600 sarees during the lockdown. Making it an average of 25 sarees a day.

In India, after agriculture, handloom is the second-largest economic sector and a significant source of employment. Kankatala has been collaborating with India’s 50 main weaving clusters, and their weavers have been affiliated with them for three centuries, as most of their patrons. Over the years, the brand has touched the lives of more than 1 lakh weavers. By making it impossible for the weavers to make ends meet, the pandemic had put the company on a stand. To help them, the e-commerce site has also introduced discounts on select items for the first time. This has encouraged patrons to use their favourite items at reduced rates and weavers to start weaving again, making it a win-win scenario.

For a short span of 180 days, the portal hosts each Saree and most of the Sarees are sold out in that window. The e-commerce arm is a three-year-old entity that has provided a global presence to the brand and is headed by Anirudh Kankatala, Director of the third generation. His futuristic outlook meant that the brand was prepared better than the rivals to respond to the modern normal.

Fashion and lifestyle retailers witness a boom in the sale; festive season approaching

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Fashion and lifestyle retailers say October went off to a fairly good run. The start of the month is very bullish over the weekend. Customers are excited to shop for the upcoming festive season.19 The highest since outlets reopened in June after months of quarantine. Due to the Eid Ul Azha and Rakhi festivals, a month-long deep discounting season had a booming market in malls. People are opening up and going to malls and stores to full fill their needs. However, the recovery is still very sluggish. And will take another six months to bounce back from the damage suffered by Covid-19, many of them said.

“We saw the highest sales post COVID for the last three days (between) 2nd and 4th (October),” said J. Suresh, Arvind Fashions’ managing director, sells brands such as US Polo, Flying Machine, Aeropostale and other labels. Recently only because of COVID-19 Arvind Fashion terminated their franchise with GAP.

“August was pretty good, but there was a slowdown in September,” Bindra told Biba. Whereas the showroom of Biba in Kolkata has reported a higher sale due to Durga Puja.

In recent weeks, malls have witnessed significant increases in footfall as the festive shoppers have begun to come out, though only in limited numbers.

Abhishek Bansal, executive director of Pacific Mall in west Delhi, said his mall’s fashion stores are only just 50 per cent of the average of last year. He expects fashion retailers to rebound only by December, up to 65 per cent of their last year’s business. “You are just sort of living at 60-65 per cent company. When the corporation recovers about 80% of the corporation, the real money and margins begin to appear, he said. “It’s going to be a huge obstacle because I’m not confident that it’s going to happen until March.”

Levi Strauss to Expand Retail Footprint, Sees Revenue above Estimates

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Levi Strauss and Co has announced to extend its retail footprint and forecast a smaller- than-anticipated decrease in current-quarter income subsequent to surging online sales helped the denim producer post an unexpected benefit.

Shares of Levi increased 10% in expanded trading on Tuesday after the organization mentioned that it would sell its Red Tab jeans collection at 500 Target Corp stores by the fall of 2021, up from 140 presently.

Numerous experts were expecting clothing creators to endure a hit from the corona virus-driven terminations of some departmental stores, however, Levi currently plans to open new stores and put resources into its margin-driving online business, which increased 52% in the third quarter.

Levi has additionally profited by spreading out into tops and ladies’ attire, as major demands for pullovers, shorts, and pants represent a significant part of its online deals advancement and growth.

The company estimated a 14% to 15% decrease in final quarter income, while experts on average were anticipating a 19.62% fall. Levi forecasted profit per share to be between 14 cents and 16 cents, in accordance with estimates.

Gross margin came in at 54.3% of net incomes in the third quarter finished Aug. 23, up from 53% a year ago, supported by cost increments and quality in its direct-to-purchaser channel.

Barring products, San Francisco, California-based Levi earned 8 cents for each offer, versus estimates for lost 22 cents.

Net income declined about 27% to $1.06 billion, yet beat estimates of $822.3 million, as indicated by IBES information from Refinitiv.

Myntra signs Bhuvan Bam as first digital brand ambassador

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Myntra has announced YouTube sensation Bhuvan Bam as its first digital brand ambassador to additionally engage with its tech-savvy and fashion-forward customers, beginning this festive season.

Both Myntra and Bhuvan will make content that will give the brand more acknowledgment in their effectively youthful market. The incorporation of topics like fashion and lifestyle in his creative and relatable content will facilitate Myntra’s endeavors of taking advantage of the fashion-centric crowds.

Bhuvan’s highway to fame impeccably exemplifies the rise of a new kind of ‘digital’ celebrity that speaks for the interests of contemporary shoppers.

Bhuvan came into the spotlight as he was one of the first Indian YouTube content creators to cross 10 million subscribers on his comedy channel, BB Ki Vines, in 2018. His content reaches out to millions of people as BB Ki Vines has reached 19 million subscribers and has 2.75 billion views. Along with creating content for his channel he is also fond of singing and has made numerous songs over the years.  He has a multitude of social media followers across all social media platforms. The 26-year-old Filmfare award winner has more than 10.5 million followers on Instagram also.

Bhuvan being India’s first-ever digital star who has taken the lead as an ambassador in online fashion space with Myntra. His appealing presence on social media and his ability to connect with individuals will enable Myntra to hit home for his solid fan base cutting across demographics.

H&M launches ‘H&M Member’ loyalty scheme in India

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On Wednesday, Swedish clothing retailer H&M unveiled its global loyalty scheme, H&M Member, in India, anticipating it to play a significant role in the growth of the group in the aftermath of the COVID-19 pandemic, given the change in consumer behaviour. After the launching of the first store in the Capital in 2015. The company has unveiled a campaign to coincide with the completion of five years in India.

H&M Member, with Member and ‘Member Plus’, is a two-tiered scheme. When a member accumulates 800 points, they are promoted to a ‘Member Plus’ status. The upgrade will have perks like free delivery, special activities and prizes. For those who sign up between October 8 and 18, H&M India is offering a one-time promo of 15% off their entire order.

“It will play an important role (H&M Member). We know that a huge transformation is taking place in retail, not only in India but worldwide, where people choose to buy more and more on the digital platform,” said Janne Einola, Country Manager of H&M India. “He also said,” H&M works hard to make it easy for any consumer to select their own platform where they feel more secure about buying.

The COVID-19 lockdown, with three months of the full shutdown of retail stores, impacted the company’s operations in India. In the company’s situation, for two and a half months, we were unable to operate our online shops, He said. Adding that the company is steadily improving and is optimistic about India’s long-term prospects.

A few days back, the company came with a plan to shut down 250 stores all around the world. It is still very unclear about the number of stores that will be shut down in India. Due to the pandemic, H&M and other retail stores have taken a big hit. H&M presently runs 48 stores in 24 cities in India.

Amazon to host ”Great Indian Festival” starting Oct 17

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Amazon, the e-commerce giant said it will have its ‘Great Indian Festival’ from October 17.

In contrast to earlier years, Amazon.in didn’t give an end-date to the festival saying it’s a ‘month-long festival’. It will harmonize with the festive season from Dussehra to Diwali and will have over 6.5 lakh sellers participate in the festival.

Amazon rival, Flipkart is scheduled to have its yearly ‘The Big Billion Days’ sale from October 16-21.

Customers all around the nation can purchase these items under different programs, for example, Local Shops, Amazon Launchpad, Amazon Saheli, and Amazon Karigar.

More than 900 new product launches from top brands, for example, Samsung, OnePlus, Apple, Boat, Dabur, Max Fashion, Lakme, Peter England, and Biotique are likewise anticipated.

All payments are upheld by a GST receipt and businesses can purchase from the SMB store to satisfy their gifting prerequisite for customers, clients, and workers.

Amazon India has cooperated with HDFC Bank to offer customers with finance options.
E-commerce business platforms see an enormous part of their business coming in during the festive sales and they make huge investments in advance to increase their ability to have the option to deal with the spike in orders.

Electronic appliances, fashion, and home décor and furnishings are in excess demand during the festive season.

Amazon India has recently said it has made more than one lakh job opportunities before the festive season in its different operations network across the nation.

Amazon India to sell affordable multi-designer brand – RIVER

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Amazon Fashion in a partnership with DBS Lifestyle LLP, today declared the dispatch of RIVER (Season I) in India. RIVER is a thrifty multi-designer brand made with the supervision of India’s most acclaimed designers – JJ Valaya, Ashish Soni, Manish Arora, and Suneet Varma, presenting readymade everyday essentials and party wear, accessible just on Amazon Fashion. RIVER which will be sold by DBs lifestyle will empower clients to reconsider their number-one designer brand in cost-effective prices of INR 999/ – to INR 9999/ – on amazon.in.
The move will help grow Amazon Fashion’s value offerings—as the Coronavirus has receded household estimates particularly for buying clothing among other optional investments.
The brand will contain 270 styles of clothing across western and ethnic wear for both men and women including dresses, tunics, sarees, jumpsuits, formal easygoing coats. These designs will be sold only on Amazon Fashion.
Designers have been looking for the most trusted names to collaborate with to spread their business online, particularly post the COVID 19 effect on retail. And upcoming brands like RIVER are making sure that some of the best designers are open to clients all across the nation, buyers who desire to wear designer clothes however presently face difficulties of unavailability because of helpless conveyance and excessive cost prices. Every season of RIVER will deliver a great blend of the designers’ individual signature styles in contemporary outlines.
The RIVER store has been made with love offering a convincing and vivid shopping experience for existing and new to designer segment customers, all of whom will have the option to now settle on an informed buying decision before placing an order. The store offers detailed product information on sizing, product details, and wash and care directions in addition to offering styling tips and detailed product imagery that will permit the client to pick cautiously and advantageously.