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India’s leading fashion company, Aditya Birla Fashion and Retail Limited has announced a strategic partnership with India’s ace designer Ta run Tahiliani to form a new entity that will soon launch a contemporary men’s ethnic wear brand. The new brand will operate in the premium occasion wear segment and will offer the entire range of high quality, sophisticated celebration wear for men at accessible price points.
The new brand aims to build a Rs 500 crore business in the next 5 years with more than 250 stores across the country. The
brand will launch the first set of retail stores by September ’21.
ABFRL will hold 80% stake in the new entity while Tarun Tahiliani will hold the remaining 20%. As part of the deal, ABFRL will also acquire 33% stake in the existing Luxury Couture business ofTarun Tahiliani, with the option to increase it to 51% in the next few years.
Commenting on the partnership, Ashish Dikshit, Managing Director, ABFRL said: “We believe that over the next few years, ethnic wear is going to be an important category as confident Indians rediscover their culture and heritage. Tarun Tahiliani has been at the forefront of the emergence of the Indian design industry. We are proud to partner with him to launch a new brand that gives the emerging Indian consumer a new range of celebration wear reflecting the unmatched, exquisite design excellence at more accessible prices. The ethnic wear segment is a large and growing market with a significant opportunity to build scale. The combined expertise of Tarun Tahiliani and ABFRL will enable the new brand to make a strong impact in the market. The existing couture brand will continue to benefit from the fast growing luxury segment of the market. 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.”
Tarun Tahiliani, Founder & CEO, Tarun Tahiliani Brand said, “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. I 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. Over the years, I have admired what Mr Kumar Mangalam Birla has built and created for the Aditya Birla Group, specifically his landmark excellence in building fashion retail in India. I am excited and look forward to this unique opportunity of taking our signature India Modern aesthetic to a broader consumer base across the country. The Tarun Tahiliani brand will continue to be the studio doing couture and occasion wear, building on its experience and success.”
The proposed acquisition is subject to necessary statutory approvals and signing of definitive agreements.
Nitin Dua, Executive Director, Relaxo Footwear’s Ltd. said, “Relaxo brand remains focused on new designs, comfort and availability with a commitment to constant quality. The new store will provide customers with an enhanced retail experience and a better feel of the brand and products. West Bengal is a promising market as customers have a rich taste in footwear and style. By catering to their diverse lifestyle demands, Relaxo is looking forward to leverage the market potential in East region.”
The overall women’s wear market is heavily dominated by ethnic wear like sarees. Casual wear brands are taking note of the rising interest in western clothing in India. So they are coming up with a mix of ethnic and western wear that is the fusion wear to fulfill the dual demand. For example, a denim along with a straight Kurti with a high waist slit to complete the fusion look. Once considered a niche market, the Indo-western fusion wear segment is witnessing double digit growth.”
Splash has successfully positioned itself as a young and fashion-forward brand with its styles, textures, patterns, and designs standing as a strong testimony. It has created some of the biggest and most popular brand properties and events like Splash Calendar & Splash Fashion Show which have now become part of the social calendar of the region.
Now led by Gautam Singhania, the group closed FY17 with revenues of Rs 5,509 crore registering EBIDTA margins of 7.7 per cent. 80 per cent of the Group’s business comes from domestic market which encompasses business interests ranging from textiles, fabrics, apparel manufacturing, fashion brand retailing to engineering, prophylactics and international businesses.
With growing awareness of global fashion trends, a growing middle class and rising disposable income, the occasion wear market in India has witnessed aggressive growth. Amit Gugnani, Senior Vice President – Fashion (Textile & Apparel), Technopak, presents an analysis of the popular segments and growing trends in the occasion wear segment.Traditionally, in India, shopping for new clothes was reserved predominantly for festivals and occasions such as weddings, birthdays, festivals and other similar occasions
Store is located at high traffic area and aims at providing brand enthusiasts of all ages a greater accessibility and an opportunity to explore more than 400 designs of sports shoes, casual, lifestyle shoes, sandals, flip-flops, formal wears, home slippers and office wears.
In 1944, Lala Kailashpat Singhania took over the mill. He set up a new manufacturing unit called JK Files in 1950 for making indigenous engineering files. Convinced that the new set up had a potential to snowball into something infinitely promising, the company concentrated on what was to become a recurring pattern in the years to follow — modernisation of machinery and infrastructure.
Additionally, competitiveness continues to be impacted in Europe – an equally large consumer of home textiles as the US – with levies up to 10 percent duty on Indian products compared with free access to Bangladesh and Pakistan firms. Suppliers from Pakistan also benefit from better export incentives provided by their government.
The product line includes lehengas, sarees, silks, suits, mix-and-match, accessories, men’s ethnic and kids’ wear. Women’s wear includes lehengas, ghagras, silks, sarees, half sarees, blouses, tunics, and mix and match in both ready-to-wear, and unstitched formats. Men’s wear includes kurta pyjamas, Indo western wear, sherwanis, suits, shirts and trousers.
Women’s western wear in India has moved beyond a pair of bottoms and a top. Where earlier secretaries and receptionists were the only ones usually seen sporting a skirt and blouse, today chic skirts with sexy tops, blouses, gowns, long dresses, etc., are worn to work by many. The country most certainly has seen an evolution of western wear and the market is growing by the day. Images BoF takes a look at the market trends for western wear in India.International western wear brands have managed to set a strong foot in the country
Nike pre-released its Air Jordan III ‘Tinker’ sneakers on Snapchat with same-day delivery after the NBA All-Star game. The sale was only available to attendees of a Monday afterparty following the NBA All-Star game and through a collaboration between Snap, Nike’s Jordan brand, Darkstore and Shopify, TechCrunch reported.The official release for the shoe isn’t until March 24, but Nike wanted to do something extra special in celebration of the 30th anniversary of Michael Jordan’s slam dunk in 1988