20 January: Shoppers Stop had reported a widening consolidated net loss to Rs. 25 crore for the third quarter that ended on December 31, 2020. However, the net loss of the company during the same period in the last year was Rs. 7 crore.
At the same time, the expenses of Shoppers Stop during the quarter under review was 19 per cent down to Rs. 779 crore, however, against Rs. 964 crore in the last year period.
Shoppers Stop is one of the leading retailers of fashion and beauty products for renowned brands. The retailer was established in 1991 as it has 89 department stores in almost 44 cities.
Sharing a take on the third-quarter results, Venu Nair serving as Shoppers Stop’s managing director and CEO said in a statement, “Business recovery during the festival period has been encouraging. The festive period helped footfall into stores and generated higher digital sales.”
Further, she also added, “Its digital initiatives such as white-glove services (video-assisted initiative), yellow messenger services (chat enabled) and appointment services (through website and app) have engaged customers to a new level and contributed to our growth in the third quarter.”
The well-known Indian store chain bestows a wide range of products for clothing, accessories, handbag, shoes, jewellery, fragrances, cosmetics, health and beauty, home furnishing and decor as well. One can buy the products from the stores and via their online app.
Best street styles from Paris Fashion Week Fall 2021
March 05: This year’s season of Paris Fashion Week is digital broadly given the Covid-19 pandemic. Even though its digital form, the week celebration still has managed to spread the same fashionable goals among the viewers as ever. It has stood on the expectations of the audience that every year awaits the time for Paris Fashion Week.
This time’s fashion week witnessed well-dressed models, editors and whatnot. Vogue was however able to collect and present their very best street style looks and we cannot get our attention off these.
From spotting girls killing it in their jeans and combat boots, some also made it through the cold wrapped in miniskirts. Here are the best looks for this time’s Paris Fashion Week Fall 2021:
ABFRL partners with designer Tarun Tahiliani to launch men’s ethnic wear brand
March 03: Aditya Birla Fashion and Retail Limited (ABFRL) has undergone a strategic partnership with renowned designer Tarun Tahiliani aiming to launch a contemporary ethnic wear brand for men.
ABFRL will be holding an 80 per cent stake in the new launch, however, at the same time, Tahiliani will be holding the remaining 20 per cent stakes. The latest brands aim to open as many as 250 stores all across the country over the next five years along with its plans to launch the first set of its retail stores by September 2021.
ABFRL has made similar investments with some other reputed names as well like in Jaypore and Shantanu & Nikhil. Along with this, the retail brand has also announced its partnership with Sabyasachi. With these investments and partnerships, ABFRL is planning its future growth segment.
The designer and CEO of the Tarun Tahiliani brand, Tarun Tahiliani quoted, “Last year, we celebrated 25 years of the Tarun Tahiliani label. The next big leap for the brand was to take our craftsmanship and expertise and offer it to a larger Indian market that knows and values quality and is actively seeking it. It was clear that we needed a partner who could not just help us with this scale, but also have the same dedication to quality and the customer. And that could only have been the Aditya Birla Group.”
Sharing his excitement over the partnership that aims to ensure further growth, managing director at ABFRL, Ashish Dikshit said, “Tarun Tahiliani has been at the forefront of the emergence of the Indian design industry. This partnership is in line with our stated strategy to craft a portfolio of brands that address the entire gamut of ethnic wear segments: value, premium and luxury.”
Timex Group brand Helix launches its first smartwatches ‘Helix Smart’ in India
Helix smartwatches, March 03: Helix that is a Timex Group brand has recently launched its first smartwatch in India titled Helix Smart. This addition aims for Timex to further strengthen its presence in the smartwatch segment.
With Helix smartwatches, Timex is observing the millenials to witness their newly launched product and drive growth for their segment. Timex also expects strong sales for the segment given the affordable price range of the product.
A cherry on the top news is that the newly launched watch is available in three different colours: blue, black and pink and is priced at Rs. 3,995. Also, as of now, the smartwatch will be sold at the authorized Helix retailers store or through the brand’s official website.
Timex Group already has a well-established market in traditional watches as they contribute largely towards the brand’s sales. Now, the company is focusing to make a landmark in the digital platform and smartwatches segment for future growth in the country.
Sharing his excitement over this new launch, head marketing and e-commerce at the Timex Group, Ajay Dhyani expressed, “We are pleased to announce the launch of Helix’s first-ever smartwatch, Helix Smart. The all new Helix smartwatch embodies the Timex Group’s standard of quality and precision combined with new age technology. We believe that these smartwatches will be well received by the youth.“
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