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Green packaging, big issue to work on in future for fashion firms; claims GlobalData

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Green packaging in fashion firms, 23 February: Fashion firms currently are on their way to build back after staying under severe negative impact for the last one year due to the covid-19 pandemic. However now, fashion industries are turning their attention to address the issue of packaging and protecting their products. This was claimed by the leading data and analytics company, GlobalData.

Apparel Correspondent for GlobalData, Beth Wright quoted, “The world as we know it is facing an overwhelming problem with regards to packaging, be it from single-use plastic or paper – both of which can have a devastating effect on the environment. What is more, the crisis is being exacerbated by the relentless hunger for fast fashion and the boom in online shopping. Fashion firms are beginning to find their feet after being dealt a devastating blow from the pandemic. Those moving to reset from the crisis are looking to prove they mean business when it comes to sustainability; rolling out new strategies and commitments to ‘build back better’. It seems sustainable packaging is en vogue, with pledges to eradicate single-use plastics, in particular, proving popular. The buck does not end with the product alone and an increasing number of fashion companies are beginning to wise up to this. Sustainability efforts must cover all ends of the supply chain – including how goods are packaged.”

Also read: Online shopping: Lady receives curtains instead of a new dress; Unboxing turns into a nightmare

Further, Wright claims, “A flurry of sustainable packaging pledges throughout the apparel sector coincides with a rise in online shopping on the back of the COVID-19 pandemic. While the focus is welcome, much work remains to be done to tackle the problem. Consumers do not want to receive mounds of single-use plastic and/or paper with their fashion items, no matter how much it might protect them on the journey to their homes. Industry players must continue to recognise the impact this part of their supply chain has on the environment – and indeed on their reputation. Even if an item of clothing or footwear has been manufactured in the greenest of manners and with the greenest of materials, all of this hard work will be undermined if a consumer receives products wrapped in copious amounts of single-use plastic.”

Retail

Gujarat to set-up 2 mega textile parks as part of union budget announcement

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March 05: The Gujarat government will be setting up 2 mega textile parks to ‘enable forward and backward integration’ in the sector. This was revealed while the state budget was presented yesterday. This project will be done as a part of the union budget announcement of setting up 7 textiles parks of such kind. This move ensures a long way for the industry to compete globally.

A top English language daily quoted Chintan Thaker, co-chair, ASSOCHAM Gujarat state council, as saying, “Mega Investment Textile Parks will make the industry more competitive at a global level and this will not just boost exports but at the back-end, it will also help generate more employment. At the same time, a single cluster will definitely help bring in more investments in the textile sector.”

He further stated, “This will give an impetus to MSMEs in the textile sector, which is the highest employment generator after agriculture. It will help ancillary units in textiles in a big way. Moreover, the plug-and-play model for the park will aid employment generation and also give an ecosystem to exporters and domestic manufacturers.”

Also read: Bhumika Group continues to sign brands for Udaipur Mall Project; Van Heusen, Louis Philippe among other

Vijay Purohit, president, Gujarat Garment Manufacturers’ Association (GGMA), said, “A cluster approach not just brings in investments but instead it also helps build an entire textile value chain, which is currently very segregated in different geographical locations. This will help the industry grow, scale-up and innovate while being more competitive.”

Referring to the state government’s announcement over the Rs. 1,500 crore outlay to provide subsidy to the industries under the textile policy, Industry stakeholders said that the help will go a long way in boosting the competitiveness of the domestic manufacturers.

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Timex Group brand Helix launches its first smartwatches ‘Helix Smart’ in India

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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.

Also read: Fossil Group launches virtual watch try-on feature without an additional app

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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L Catterton backed by LVMH nearing deal to acquire German brand Birkenstock

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ARIZONA from Birkenstock

March 01: L Catterton is nearing an agreement to acquire the German footwear brand Birkenstock as the deal might get final by this week. This information was bestowed by the people aware of the development.

The people also claimed that the investment firm and the family who is behind the German brand might announce the deal this week. However, the identity of the informers cannot be revealed since the information is private.

They also said that the transaction could bring a revenue value to Birkenstock of about 4 billion euros. At the same time, the representatives for both Birkenstock and L Catterton denied claiming the viral information.

Also read: German brand Birkenstock launches a first mono-brand store in Bengaluru

The informers also said that since the conversations are advanced, the agreement might get delayed or even fall apart. L Catterton is a private equity firm that is backed by luxury French fashion house LVMH.

The people aware of the matter also claimed that L Catterton has been competing with the buyout firm CVC Capital Partners in acquiring the German brand as the former were close to sealing the deal earlier this year, however, failing in the process when Birkenstock chose L Catterton’s exceptional track record along with its ability to expansion in Asia, as claimed in Bloomberg News reports of this month.

Birkenstock has been planning its expansion in India for quite a long time and has already launched its brand stores and mono-brand stores in several Indian states like Delhi, Chennai, Hyderabad, Mumbai, and Bengaluru.

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