Page 2 - Fashion Retailers

H&M swings back to profit as Covid restrictions ease, stores reopen

STOCKHOLM (Reuters) -Fashion retailer H&M on Thursday reported a bigger than expected second quarter profit as many of the company's stores reopened but earnings remained well below pre-pandemic levels and the group's shares fell sharply.

Zara India posts full-year loss of Rs 41 crore; revenue down 28%

Spain's Inditex, which owns luxury fashion brand Zara, posted a loss of Rs 41 crore in India for the financial year ended March 31, 2021.

Arvind Fashions fourth quarter net loss narrows to Rs 99.45 crore

This was helped by higher revenue from operations.

H&M caught in a 'geopolitical crossfire' between China and Vietnam

Changes by the Swedish retailer to its map on China's order have angered Vietnam consumers who believe they infringed on their country's maritime sovereignty

D2C fashion brand Bewakoof raises Rs 30 cr from IvyCap Ventures

Direct-to-consumer (D2C) fashion brand Bewakoof on Thursday said it has raised Rs 30 crore from IvyCap Ventures. The fresh proceeds would help the company in the growth journey towards a Rs 1,000 crore company by financial year 2024, it said. "Bewakoof has raised Rs 30 crore from IvyCap Ventures Trust Fund II. The fresh infusion has come 10 months after their previous fundraise. Last year, Bewakoof had raised Rs 8 crore in May 2020 after raising from Investcorp in October 2019," the company said in a statement. Bewakoof intends to invest the funds in enhancing customer experience, technology and newer product categories as it prepares for the next phase of growth. Founded in 2012, Bewakoof claims to have registered revenue of over Rs 200 crore in financial year 2019. Due to the pandemic, the company expects revenue to be 30-35 per cent lower than pre-COVID numbers, but with better unit economics than the previous year. Bewakoof is backed by institutional investors like Investcorp

Prada profits recover in second half after coronavirus-driven slump

Prada reported a strong recovery in operating profits in the second half of 2020 thanks to soaring Asian sales and an e-commerce push combined with strict controls over costs and investments.

Reduced debt, better business outlook spark rally in Aditya Birla Fashion

Shares of the company were up for 8th straight day, its longest winning streak in nearly six years

Aditya Birla Fashion steps up presence in ethnic wear after Sabyasachi deal

Ties up with designer Tarun Tahiliani; second deal in a month

Raymond third quarter profit declines 88.7% to Rs 22.18 crore

Raymond Ltd on Tuesday reported an 88.7 per cent plunge in its consolidated net profit to Rs 22.18 crore for the quarter ending December 2020. The company had posted a net profit of Rs 196.83 crore during the October-December period of the previous fiscal, Raymond said in a regulatory filing. Its revenue from operations was down 34.1 per cent to Rs 1,243.44 crore during the quarter under review as against Rs 1,885.43 crore in the corresponding period of the previous fiscal. Commenting on the results, Raymond Chairman & Managing Director Gautam Hari Singhania said: "With markets and channels opening up and consumer sentiments getting back on track, we are seeing demand for our products & services getting better on a quarter on quarter basis and our sustained focus on operational efficiencies has yielded in a profitable quarter. "Additionally, our Engineering Businesses are back on track with a profitable growth and performance of the FMCG business has also been profitable in ...

Aditya Birla Fashion buys 51% stake in luxury designer brand Sabyasachi

Founded by Sabyasachi Mukherjee, the "Sabyasachi" brand is India's largest and most influential luxury designer brand with strong Indian roots and global appeal

Retailers push the discount pedal on R-Day, offer rebates of up to 60%

Most categories looking to capitalise on out-of-home momentum

Iconic fashion designer Satya Paul passes away at 79

Paul started his journey in the field of retail in the late 60's and expanded to exports of Indian handloom products to high-end retail stores in Europe and America

Flipkart Wholesale app logs 75% month-on-month growth in customer base

Flipkart Wholesale app, which currently offers fashion products to retailers in 23 cities, witnessed 75 per cent month-on-month growth in customer base since its launch in September

Myntra set for biggest fashion festive sale; to cater to 40 mn visitors

The Walmart-owned firm is geared to handle 900,000 concurrent users and 20,000 orders per minute at peak and expects to cater to over 4 million unique customers

Sales uptick, lower debt to help in Aditya Birla Fashion recovery

Cost reduction, higher private label sales to aid margins

H&M beats rival Zara; diversifies its portfolio, presence in India

The brand had a wider presence and gathered enough attention of local consumers to become a household name.

Myntra onboards 200 fashion brands to help them tackle coronavirus impact

Walmart-owned firm integrated 1,200 physical stores during pandemic, is taking brands like Mango, Puma, Movado and ELLE jewellery across the country including tier-2 and tier-3 towns

Fashion retail brand H&M India's revenue rises 14% to Rs 1,700 crore

While H&M was heavily dependent on the online channel for sales, the recent crisis has increased its dependence on the channel further

Flipkart Wholesale's first-ever festive season sale for fashion retailers

Flipkart Wholesale's 'Big Festival Month' would offer a wide range of products in categories

Myntra ropes in Bollywood actor Kiara Advani as brand ambassador

Online fashion retailer Myntra on Monday said it has roped in Bollywood actor Kiara Advani as its brand ambassador and nationwide celebrity endorser