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The company is looking at all available options that include long term funding and alternate working capital availability to manage liquidity in the current situation, it added. The company is in the process of taking steps to issue non convertible debentures (NCDs) that would support the rebalancing of its debt mix favouring long-term debt, it said adding that in June quarter of 2020-21, the company has raised Rs 145 crore through NCDs at market benchmarked rates.

Revenue from auto components was down 30.81 percent to Rs 47.21 crore as against Rs 68.24 crore a year ago.

Celio* as an organisation focuses on inter-operability and skill development which becomes a scoring goal in business as it defines how easily you can take quick action or make smart decisions.

ORRA will also extend a bouquet of offers to its customers for customers who may have missed out on purchasing jewellery due to the lockdown like upto 25 percent off on diamond jewellery, upto 50 percent off on making charges of 22KT gold jewellery, guaranteed minimum 25 percent off on making charges of 22KT gold jewellery and an additional 5 percent value on exchange of old gold jewellery subject to terms and conditions.

months, approximately 80 percent of publicly listed fashion companies in Europe and North America will be in financial distress and may go bankrupt in the next 12 to 18 months.

– Introduce selection-based trials where customers select limited products and pick up colours in the same products later (should they want to), to limit trials.

– The novel coronavirus outbreak has pushed consumers to shift their shopping habit online owing to safety concerns. In the present times, consumers are more frequently purchasing products online that they would normally buy from physical stores. According to the study by Capgemini, Indian consumers’

A key strategy will be to utilise its omnichannel presence. Shopping over apps will surely increase in volume as people will now choose convenience plus safety. Brands need to up their online game with smooth UI, easy to use and browse pages, more product and style options, attractive product shoots, easy and fast delivery, convenient payment options, tamper proof and shielded packaging, etc.

Even at physical stores, processes like catalogue browsing, e-billing, e-payments and dedicated helpline help boost customer happiness.

While Facebook and Instagram has been the forerunners in driving social media sales and communication, the crisis has also impelled fashion brands and retailers to explore cross-platform messaging and Voice over IP service providers to reach out to their potential audience. Footwear major Bata is betting on WhatsApp to allow consumers to shop from homes via chat with neighbourhood stores of the company.

– How is the industry re-engineering for a new world order?

Abdullah joined Istituto Marangoni London in 2010, and since then he has been lecturing and leading various units on BA in Fashion Business, MA in Fashion & Luxury Brand Management, MA in Fashion Promotion and MA in Fashion Buying. Some of the subjects taught include: Economics, Finance, Big Data, Analytics, Artificial Intelligence, Wealth Management, Strategy, Luxury Management, and Project Management. He has been involved in supervising Master Dissertations, and Undergraduate Business Plan projects.

Started in 2012 by Shivani Poddar and Tanvi Malik, HSE has pioneered fast fashion in the country and is among the first Indian fashion retailers to have a robust omnichannel retail model. HSE’s brands, FabAlley, Indya, and Zyra currently retail through their websites, horizontal online marketplaces, large format chains such as Lifestyle and Central, along with more than 30 Exclusive Brand Outlets across the country. During FY20, HSE has scaled up its retail footprint with 13 new Indya stores and five FabAlley stores, along with expanding both brands to over 400 shop-in-shops across the country.

A quick look into the products ordered on the first day of EORS reveals that the focus of a majority of shoppers has been to procure kurta, t-shirts, shorts, kidswear and work from home wear, among others. Most of the men shopped for T-shirts, while women picked kurtas in greater numbers. Beauty and Personal Care, Fashion Essentials, Kids wear, and Home décor are witnessing strong growth at about 50 percent YOY on average.

to £169 million as a result of the coronavirus pandemic and warned it could “take some time” before the luxury fashion industry recovers to pre-crisis levels.

Instill Confidence in Consumers: As hygiene and safety are the core concerns now, brands will have to not only exercise safe in-store practices but also convey the same to consumers. This stands more true for brick and mortar retailers, who will now have to go the extra mile to assure consumers of a safe shopping environment.

Although shopping centres are finally reopening after a nationwide lockdown was announced on March 23, 2020, visiting malls is going to be a very different experience from now on keeping in mind new hygiene, sanitization, and social distancing norms. Despite this, fashion brands like Ayesha Accessories are quite elated at the development. The brand, which has a large chunk of its exclusive stores in malls across the country compared to high streets, is working to meet all the necessary SOPs issued by the Government while reopening its stores.

Luxury has been one of the most affected industries in the retail sector due to the COVID-19 pandemic. The crisis led to the closure of several luxury stores across the Asia-Pacific (APAC) region, bringing their revenue stream to a standstill during the first half (H1) of 2020. Against this back drop, brands are turning to affordable luxury to stay afloat and survive in the market, says GlobalData, a leading data and analytics company.

When asked if the company is looking to partner with existing online marketplaces, Goenka told PTI, “We work with Amazon, we work with Flipkart in India, we are working with Myntras of the world. We are working on marketplaces, but we also have our websites.”

Traders’ body the Apparel and Handloom Exporters’ Association representing around 400 micro, small and medium enterprises in the state on Sunday said the ongoing lockdown has caused a cascading effect on the deliveries of goods committed till September.

In today’s digital age when every company is leveraging on data to identify consumption pattern, Stitch Fix used data to lead the company and that’s all that made the difference.2CaaStleWith rising concerns about textile waste, renting is the new black and consumers are slowly gravitating towards the modern fashion philosophy of renting instead of buying and lending instead of discarding. Catalyzing this shift is a company called CaaStle that wants to build a new economy for apparel. The company helping retailers and clothing brands create their own rental services. A logistic platform, CaaStle integrates with companies’ inventory systems and manages the entire rental process on their behalf, from warehousing and cleaning garments to gathering feedback from customers about how an item fits. The flatform also builds and manages all aspects of the subscription model – the website, databases, algorithms and analytics. If that was enough, CaaStle’s Account Managers, Merchandisers and Marketers chaperone fashion brands along the way with their subscription model expertise and retail industry experience.

For customers who are hesitant to step out of their house, ORRA is facilitating purchases through Whatsapp, where they can view, select and buy jewellery over a whatsapp video call.

The Need to be Digitally Native

An experienced retail professional, he has had long stints in Supply Chain and P&L leadership roles with global and Indian leading fashion and general merchandise retailers. He was earlier the Chief Operating Officer of India’s largest fashion e-tailer Myntra taking the business from US$ 20 million to US$ 1 billion. During his stint at Myntra he built the world’s first AI-driven fashion brand, which is a global case study now.

Although digital retail had an edge over traditional retail formats with features, it still had numerous shortcomings — consumers still had to browse through endless inventory options through a plethora of websites before they can actually make a purchase. What Stitch Fix initially focused on was easing the discovery process leveraging on data and algorithms. The company hired a pool of 100 data scientists and focused all its efforts on harboring as much data as possible. The data collected helped Stitch Fix to not only send personalized offerings to its consumers at a regular interval but also helped it provide feedback to its partner brands on improving their products. Consumers loved the convenience and its partner brands were overwhelmed with the feedback that came from Stitch Fix’s data driven approach, which enabled them to ameliorate their overall offerings.