Apparel Online India Magazine December 1st Issue 2018 | Page 47

DOMESTIC UPDATE
Future Retail posts 14% hike in net profit in
second quarter
Future Retail Ltd. (FRL) has
announced its Q2 results for
the quarter ending September
30th. India’s leading retail chain
recorded a 14 per cent surge
in its profits to Rs. 175 crore
as compared to Rs. 153 crore it
fetched last year during the said
time period. The company also
reported that its revenue during
the period was also up to Rs. 4,929
crore as compared to Rs. 4,506
crore during the previous quarter
in last fiscal. By the end of its
second quarter this year, it
managed to grow its presence
in 373 cities across the country.
Further adding to the store count,
the retailer marked out that it will
be launching around 100 small
format stores in the coming time
along with 20 Big Bazaar stores
by the end of this fiscal year.
The retail chain operates 1,336
stores across its different brands
such as Big Bazaar, Easyday
and FBB.
As per the data available, FRL
reported its total income as
Rs. 18,489.64 crore claiming to
be the Future Group’s biggest
revenue producer. Recently, Future
Retail’s Big Bazaar organised the
first ever 24-hour Facebook Live
shopping extravaganza to mark
the 12th anniversary of its ‘Sabse
Sasta Din’ event. The leading
retail chain fetched a profit of
Rs. 183.14 crore during the third
quarter of the previous fiscal year
and it remains to be seen if FRL
can manage to better the previous
year’s number by the end of
this fiscal.
Wrangler ties up with Flipkart; launches
‘Wrangler 20X' ‘for digital generation
American denim brand Wrangler
has collaborated with e-commerce
giant Flipkart to launch its sub-
brand Wrangler 20X exclusively
for the online marketplace. This
collection is targeted at the tech-
savvy youth who increasingly
shop for fashion online, seeking
the perfect mix of trend and value.
Wrangler 20X aims to give them
a brand that they would be proud
to wear at prices that they can
afford. The sub-brand is launched
to capitalise on the festive season
which will witness a sharp rise
in the purchasing frequency.
Flipkart has aggressive plans to
grow the fashion business and
this maps well with Wrangler’s
vision of meeting the needs of the
young and online shopper. “We
are delighted to partner with
The shirts embrace
printed designs with
yarn-dyed fabrics and
the tees are with a
fresh colourful graphic
spin. The sub-brand
is currently available
only for men.
Flipkart on the launch of Wrangler
20X. The brand will be available
exclusively on Flipkart and is
designed for young, trend-aware
digital citizens who aspire to buy
Wrangler but are also looking
for a more affordable value
proposition. We look forward to
working with Flipkart to make
this a successful sub-brand of
Wrangler,” asserts Krishna Dorai,
General Manager, Wrangler.
Rishi Vasudev, VP, Flipkart
Fashion, maintains, “Men’s fashion
is one of our fastest growing
categories, where we have
witnessed a 75% Y-o-Y growth,
within which denims is one of the
most successful categories. Crafted
on the basis of an understanding of
what fashion shoppers are looking
for, we are excited to launch
Wrangler 20X, a denim-wear
brand, from the house of Wrangler,
exclusively on Flipkart Fashion.
The range is specifically designed
to offer the latest in fashion to the
style-conscious young men looking
for the best in the value branded
segment and we are sure, this
range will be a massive hit, while
it strengthens our men’s portfolio.”
The collection features attractive
style elements such as PU detailing
on the pockets and belt loops. The
shirts embrace printed designs
with yarn-dyed fabrics and the tees
are with a fresh colourful graphic
spin. The sub-brand is currently
available only for men.
www.apparelresources.com | DECEMBER 1-15, 2018 | Apparel Online India
47