The value of total exports from Bangladesh to India is expected to double to $1 billion by the end of June 2012, the Indo-Bangladesh Chamber of Commerce and Industry has said.
The Apparel Export Promotion Council (AEPC) in a Pre-budget Memorandum to the Union Finance Minister, Mr Pranab Mukherjee, has sought fiscal and financial incentives to increase India`s competitiveness and sustainability in the global market.
Globalisation is a daily-life reality for the affluent Indian men. They spend more to dress well to suit the global community they deal with. There is no wonder then all the premium international luxuty men’s wear brands and labels like Gucci, Hugo Boss, Salvatore Ferragamo, Armani, Versace, Brioni, Ermenegildo Zegna, Canali, Corneliani, Alfred Dunhill, Cadininare a part of Indian men’s wardrobe now. And they are c competing to grab a bigger market in this demanding segment.
The designer wear market in India is catching up and growing fast. According to a recent research ‘Trends in Indian Designer Wear Industry’ by The Associated Chambers of Commerce and Industry of India ( ASSOCHAM), the booming designer wear industry in India is likely to reach Rs 11,000 crores by 2020.
Creative Kidswear, which launched recently its new brand UFO, ‘Under Fourteen Only’, is planning to open more exclusive brand outlets in Bangalore, where it has its first EBO, and in Hyderabad and Chennai.
Bangalore-based Stori Fashions (P) Ltd, after a positive winter season and turnover of Rs 48 crores, for its brands, Stori and Red Flame, is upbeat about the coming months with 30 to 40 per cent growth projection.
The Bangalore-based Myntra.com, a leading online retailer of fashion and lifestyle products in India, is aiming revenues of Rs 500 crores in fiscal 2012- 2013. The company which entered the lifestyle and fashion retailing segment in December 2010 has registered a 10-fold growth in 2011 and is relatively, the fastest growing company in the e-commerce space in India, says a company press release.
The seasons have been very favourable to the global luxury brands to embark on Indian markets, which has been on the high tide. The first signal of opportunity was raised by the CII-AT Kearney report which predicted that the booming Indian luxury market was growing at 20 per cent a year and would become $14.7 billion by 2015, from $5.8 billion now.
Mumbai-based Grafica Flextronica, a leading manufacturer and exporter of screen printing machines and allied equipment, has unveiled Grafica’s nano-prinTex, direct to garment automatic textile screen printing machine.
Despite a number of challenges, China's textile and clothing industry is set for further growth while its competitors like India suffer declines as a result of cutbacks by retail buyers, according to a new research.
Indorama Industries Limited [IIL], a unit of Singapore-based Indorama Corporation, has started India's first spandex production plant, at Baddi, in Himachal Pradesh.
The $19 billion Swedish clothing retail company, Hennes & Mauritz (H&M), known for its fast-fashion clothing offerings, is taking a cautious approach about entering India. Earlier the company had expressed interest in opening stores in India.
According to the Industry Body, the Associated Chambers of Commerce and Industry of India (ASSOCHAM) study, Gujarat is contributing in excess of 25 percent at Rs 20,000 crore to technical textiles sector.
Reliance Retail’s fashion apparel arm Reliance Trends is planning to increase its store strength in the country to 100 by the end of March (FY 2011-12) from the present 75. It may adopt the franchise model also for that.
The Paris-based Lectra, the world leader in integrated technology solutions dedicated to industries using soft materials-textiles, leather, industrial fabrics, and composite materials-is opening offices in New Delhi and Tirupur, to support Lectra customers in North Indian States and in Tamil Nadu and Kerala, respectively.
