Global Textiles & Apparels - Daily E-Paper Global Textiles & Apparels E-PAPER - (07 August 20 | Page 6

www.gtanews.in Global Textiles & Apparels, Mumbai , 07 August 201!8 KVIC launch Designer Wear Collections Mumbai: The Union Minister of State (Independent Charge) for Micro, Small and Medium Enterprises, Mr. Giriraj Singh had launched an exclusive western and ethnic designer wear line in New Delhi. The launch ceremony was organised at Khadi Bhawan at Connaught Place in New Delhi. Mr. Singh was hopeful that Khadi would become a global fabric in coming days. He also appreciated Khadi and Village Industries Commission (KVIC) for its high growth in sales as well as annual turnover in the last four years. In another development, Mr. Giriraj Singh had inaugurated Delhi’s first Khadi India franchise store. The Clothing for men and women, and other collection of village industry products are available at the newly inaugurated franchise store. Cover Story to increase its sales Mumbai: Cover Story, the women- centric fast-fashion brand by Future Retail, has been targeting two fold increase in sales this fiscal. The brand’s sales totaled to Rs 51 crore in the fiscal 2018. Additionally, the brand is also hopeful to break even at Ebitda level (earnings before interest, tax, depreciation, and amortisation) this fiscal. The brand has presence in Delhi- NCR, Mumbai and Surat. It is also available in various shop-in-shop formats such as Shoppers Stop, Central, Kapsons, Iconic and Sohum. Cover Story was launched to compete with foreign imports such as Zara, owned by Inditex. The Future Group also owns and operates lifestyle stores like Brand Factory, Central, etc. To serve our industry better... Send us your Company News/Article & Product Profiles to be covered in our ‘Global Textiles & Apparels’ It will get carried forward in - * Publication + Daily E-Paper + News Portal + Facebook Page Grab this opportunity to promote your new products & Technology Contact us - (0) 9834710185, - 9923581468 - [email protected] News Portal: www.gtanews.in Associations & Company affairs 06 Myntra acquires Pretr Chique open 10th Store Mumbai: Myntra has recently acquired Pretr, a home-grown omni channel fashion platform in a bid to extend its push towards establishing the brand as a retailer across channels. Flipkart- owned fashion retailer believes that this acquisition will enable the e-retailer to build omnichannel partnerships with brands on its marketplace and provide a comprehensive solution to retailers to enhance their own omnichannel journey. The company is looking to collaborate with 50 such strategic brands in the next one year across all their stores and that will enable us (Myntra’s private fashion labels) to deliver the most unmatched and unseen in-shop experience to our customers Saatva launch ‘Saatva Dreams’ USA: The Saatva Company had announced the launch of Saatva Dreams, a new line of premium bedding. Saatva Dreams furthers Saatva’s luxury sleep experience with 100% organic Lofton cotton sheets and the Saatva Pillow. Both feature the same level of craftsmanship and quality that people have come to expect from Saatva. With this introduction, Saatva becomes one of the first online mattress companies to include organic and Fair Trade sheets as part of its brand offering. Saatva Dreams continues the Saatva value proposition of offering premium luxury products sold online direct to consumers at accessible prices. Lofton sheets are ethically crafted in a Fair Trade factory, using organic cotton that gets better with each washing over time. Queen sheet bundles are priced at $195. The Saatva Pillow redefines luxury, with a unique 3-layer washable construction; 100% organic cotton cover; hypoallergenic fiber inner pillow; and a finely shredded Talalay latex core for the ultimate in head and neck support. Queen pillows sell for $145 each ($270 per bundle), king pillows sell for $165 each ($290 per bundle). Both Lofton Sheets and Pillows by Saatva include free shipping and a 45-day home trial. Mumbai: The Apparel Brand Chique has inaugurated its tenth physical location in the country. The Forum Mall in Kolkata has become latest location to host womenswear brand. Autumn/winter collection of the brand has been made available at the 450 square feet store of the retail brand. Day and evening wear and accessories are also available at the newly inaugurated store of the western inspired modest-wear brand Chique. The brand offers dresses, tunics, shirts, bottoms, and winterwear. Before Kolkata, the brand had its physical presence in Udaipur, New Delhi, Mumbai, and Gurgaon. With a total of six, Delhi has its highest number of its stores. The brand aims to increase its store count to 100 in the next three years. The brand is also expanding online through partnerships with multi-brand platforms such as Myntra and is eyeing international expansion by building a presence in the UAE. Raymond Q1 Financial Results Mumbai: Raymond has announced its financial results for the first quarter ended on June 30, 2018. The textile manufacturing company’s consolidated net profit reached Rs 1.92 crore as compared to a net loss of Rs 5.87 crore in the corresponding period a year ago. The revenue during the reporting quarter for the textile company augmented 4.5 per cent to Rs 1,251 crore as compared to Rs 1,197 crore in the same quarter last year. The textile company’s total expenses increased by 3.31 per cent to Rs 1,281 crore from Rs 1,240 crore in the corresponding period last year. Furthermore, Raymond reported 79.2 per cent increase year- on-year (Y-o-Y) basis in its consolidated EBITDA (earnings before interest, tax, depreciation and amortisation) to Rs 68.8 crore in the quarter under review. Raymond operated a total of 1,236 stores across all formats, including 52 stores in the Middle East and SAARC region.