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.
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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