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Fast fashion to comprise over 25% of total retail by FY31: Redseer

YourStory

YourStory · 1y ago

Fast fashion to comprise over 25% of total retail by FY31: Redseer

Fast fashion is expected to represent 25-30% of India's fashion retail landscape by 2031, according to Redseer Strategy Consultants. This sector produces quick fashion styles to capitalize on trends and is growing at a rate of 30-40% annually, outperforming the overall retail sector. However, the Indian market is still small compared to global players. Building successful fast fashion brands requires timely trend identification, rapid production, an elastic supply chain, attractive pricing, and effective consumer engagement. The market can be divided into ultra-value, premium, and mid-value segments, each with different strategies and consumer preferences.

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Ambani's Reliance fielding Chinese giant to heat up retail showdown

Economic Times

Economic Times · 6m ago

Ambani's Reliance fielding Chinese giant to heat up retail showdown

Reliance Retail has launched a Shein app in India, reviving the Chinese fast fashion brand after its 2020 ban. This move heats up competition in India's booming fast fashion market, projected to exceed $50 billion by FY31. Shein's global rise is marked by aggressive discounting and influencer marketing, despite facing labor controversies. Under Isha Ambani's guidance, Shein returns as a technology provider, with Reliance ensuring compliance with local regulations and data security.

E-commerce GMV grows 5% in Q1 amidst offline retail surge; new categories adoption to slow down

Business Today

Business Today · 1y ago

E-commerce GMV grows 5% in Q1 amidst offline retail surge; new categories adoption to slow down

In the first quarter of the fiscal year 2024, e-commerce Gross Merchandise Volume (GMV) grew 5 per cent compared to the same period in the previous year even as offline retail witnessed a more rapid expansion. The offline retail growth is attributed to increased Fast-Moving Consumer Goods (FMCG) volume and a decrease in prices, according to a new report by Redseer Strategy Consultants. Higher rural demand, particularly FMCG, and a steady uptick in urban demand too helped offline growth.

Co-branded credit cards are poised to outpace traditional credit cards: report

YourStory

YourStory · 11m ago

Co-branded credit cards are poised to outpace traditional credit cards: report

According to a report by RedSeer Strategy Consultants and Hyperface, co-branded credit cards are growing in popularity in India and are expected to grow twice as fast as traditional credit cards. The report suggests that co-branded cards will capture over 25% of the market share by volume by FY28 and have a higher transaction volume and value compared to traditional credit cards. The average spend per co-branded credit card is also 1.2 times higher, with a superior activation rate. The growth is driven by tailored rewards and exclusive benefits through strategic partnerships with brands in various sectors.

Mensa Brands makes UAE ecommerce foray; eyes Saudi Arabia next

Economic Times

Economic Times · 1y ago

Mensa Brands makes UAE ecommerce foray; eyes Saudi Arabia next

The firm houses a total of 25 brands under its umbrella across fashion, beauty, fast moving consumer goods (FMCG), and content like Villain, Pebble, Folkulture, and MyFitness. The companys mens lifestyle and personal care brand Villain, smart wearables brand Pebble, and home décor label Folkulture will have a presence on Amazon and regional ecommerce platform Noon in the UAE.

That Scotch you love isn't going to be drastically cheaper after trade deal

Livemint

Livemint · 13d ago

That Scotch you love isn't going to be drastically cheaper after trade deal

The newly signed India-UK Comprehensive Economic and Trade Agreement (CETA) will reduce the 150% customs duty on UK spirits to 75%, further decreasing to 30-40% over the next 10 years. This will result in modest retail price reductions of 8-10% for premium Scotch, as import duties comprise only 10-15% of the total shelf price. However, the agreement does not include UK wines and beers.

How Shein-Reliance Nexus Will Shake Up India’s Online Fashion Market

Inc42 · 1y ago

How Shein-Reliance Nexus Will Shake Up India’s Online Fashion Market

Shein, a popular fast fashion brand, is making a comeback in India through a partnership with Reliance Retail. The move comes as the Indian fast fashion industry is expected to grow to $30 billion by FY23. Instead of operating as a standalone entity, Shein's products will be available for purchase through Reliance Retail's apps and physical stores. Shein's parent company will receive a license fee based on the profits generated within India.

Fashion startup Littlebox raises $2.1 Mn led by Huddle and Prath Ventures

Entrackr

Entrackr · 8d ago

Fashion startup Littlebox raises $2.1 Mn led by Huddle and Prath Ventures

Ultra-fast fashion startup Littlebox has raised Rs 17.5 crore (about $2.1 million) in its maiden funding round, co-led by Huddle Ventures and Prath Ventures, along with participation from a select group of prominent angel investors. The brand was also featured on Shark Tank India Season 3, where it secured a deal with all five Sharks. The fresh funds will be deployed to deepen category verticals, strengthen the UI/UX and logistics experience, invest in packaging and consumer delight, and scale marketing to position Littlebox, the company said in a press release. Co-founded in 2022 by Rimjim Deka and Partha Kakati, Littlebox is an ultra-fast fashion brand that serves India’s Gen Z audience with trend-led fashion that is affordable, agile, and authentically local. With real-time retail infrastructure, weekly product drops, and a radically efficient 25-days stock cycle, it eliminates dead stock and delivers fresh styles at scale. The Guwahati-based brand says it operates on a 25-days stock cycle, powered by a proprietary demand-forecasting algorithm. This ensures fresher assortments, zero dead stock, and stronger margins—all without compromising affordability. Rimjim Deka, co-founder and CEO of Littlebox, said, “Our roots in Guwahati taught us to build lean, stay grounded, and move fast. We started Littlebox to make fashion trend-forward yet accessible, without burning capital or creating waste. This raise isn’t a lifeline — it’s a growth engine.” Littlebox aims to redefine fast fashion for a new generation of Indian shoppers. The brand operates a 40,000 sq ft facility in Noida and claims to launch around 100 new SKUs every week.

Shein back in India? Mukesh Ambani’s Reliance to launch IPO-bound label, ex-Meta honcho to be roped in, says report

Livemint

Livemint · 1y ago

Shein back in India? Mukesh Ambani’s Reliance to launch IPO-bound label, ex-Meta honcho to be roped in, says report

Reliance Retail Ventures, owned by Mukesh Ambani, is set to launch Chinese fast fashion label Shein in India. The popular fashion brand will be available on Reliance Retail Ventures' app and brick-and-mortar stores. Reliance Retail previously partnered with Shein and is likely to appoint former Meta director Manish Chopra to head operations in India. This move is part of Reliance Retail Ventures' strategy to bring international brands like Tiffany & Co and ASOS to India. Shein was previously banned in India due to tensions between the countries but will now operate under Reliance Retail Ventures.

ICICI Venture bets on fast fashion brand Libas

VCCircle

VCCircle · 1y ago

ICICI Venture, the private equity arm of ICICI Bank, has invested Rs 150 crore ($18 million) in fast fashion brand Libas. The funding will be used to strengthen Libas' omni-channel presence and expand its brand and retail outlets across key cities. Libas, which started in 1985 and rebranded as a direct-to-consumer fast fashion brand in 2014, offers ethnic wear and fusion silhouettes for modern Indian women. The company generated over Rs 500 crore in revenue during FY24 and has a presence on e-commerce platforms like Flipkart and Myntra.

Lifestyle retailer GoodGudi raises funding

Economic Times

Economic Times · 1y ago

Lifestyle retailer GoodGudi raises funding

GoodGudi, a lifestyle retailer specializing in fast-moving household and consumer goods, has raised an undisclosed amount in a seed funding round led by AC Ventures. The startup plans to open over 40 retail stores in the next two years, with an initial focus on Bengaluru. It will sell a range of products, including travel accessories, kitchenware, fashion accessories, and more. GoodGudi aims to capitalize on the success of offline retail models like Miniso, offering high-margin, impulse purchase items.

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