Apparel Online India Magazine August 2nd Issue 2018 | Page 48

DOMESTIC UPDATE APPAREL RESOURCES NEWSLETTERS FACEBOOK FRIENDS To subscribe, send us an email at [email protected] Join more than 10,000 people who are already fans of Apparel Resources on facebook. Search for Apparel Resources at https://www.facebook.com/apparelresources/ Reliance Retail witnesses boom in revenue in Q1 Reliance Retail Limited (RRL) recently announced financial results for the first quarter ended June 30, 2018. During the quarter under review, revenue for the company increased by 123.7 per cent year-on-year basis to Rs 25,890 crore as compared to Rs 11,571 crore in the corresponding period last year. Further, PBDIT (Profit Before Depreciation, Interest and Tax) in the reporting quarter increased more than 200 per cent to Rs. 1,206 crore as compared to Rs. 398 crore in the same quarter last year. The brand has a presence in more than 5,200 towns and cities, with 8,533 stores, besides an expanded presence with Trends Woman in 23 stores across 12 cities. additional 8 per cent stake worth Rs. 34 crore in Genesis Colors Limited (GCL), a luxury fashion firm. Genesis at present retails luxury labels such as Burberry, Paul Smith, Armani, Jimmy The retail brand also acquired Mothercare India business from DLF Brands to fortify its presence in the expectant mother and in general merchandise category. It also acquired an Choo and others in the country. Started in 2006, Reliance Retail, with its headquarters in Mumbai, is touted as India’s largest retailer (in terms of revenues) today. Faballey expands offline presence; inaugurates Indya's store Mumbai has become the latest location in the country to host offline store of Indya – the ethno-fusion brand of the High Street Essentials (HSE). The first exclusive offline store of the brand in Mumbai inaugurated on July 30 is housed at Phoenix Market City in Kurla. Overall, Mumbai store is the ninth offline outlet of the brand in the country. Before Mumbai, Indya had its eight exclusive brand outlets in Delhi, Chennai, Bangalore, and Ludhiana. Additionally, it also sells from 55 retail touch points across the country. A contemporary range of skirts, peplum tops, crop tops, tunics, and palazzos have been stocked at the store “We are happy to cater to the growing demand of fusionwear of the modern Indian woman through Indya,” say Tanvi Malik and Shivani Poddar, Co-Founders,HSE 48 Apparel Online India | AUGUST 16-31, 2018 | www.apparelresources.com which spans across 730 square feet area. The brand which has allocated a budget of Rs. 6 crore for its offline expansion is planning to increase its store count to 30 in the country by the end of this fiscal year. “We are happy to cater to the growing demand of fusionwear of the modern Indian woman through Indya,” Tanvi Malik and Shivani Poddar, Co-Founders of HSE were quoted as saying. In 2016, FabAlley inked a partnership with Future Group’s Central Mall to kick off its offline sales. The fashion firm which posted a growth of 40 per cent in 2017 is now planning to reach 100 per cent Y-o-Y revenue growth in 2018 with its offline expansion.