January 2020 Edition Apparel January 2020 issue | Page 22

MARKET WATCH
Duke Fashions (India), a lifestyle brand with an
affluent track record in manufacturing quality
readymade garments with contemporary styling,
has been honoured with ‘Punjab State MSME
Award’ for its outstanding quality products and
tremendous business growth. Komal Kumar Jain,
chairman, Duke Fashions, received this award
from Chief Minister Capt. Amarinder Singh during
the Punjab Investors Summit 2019 in Mohali,
which was organised to promote Punjab as an
attractive and competitive destination for industrial
investments. The initiative aims to recognise and
promote the visionary spirit of the entrepreneurs
of Punjab. In total, the Punjab Government
envisions the distribution of 18 awards in each of
the sectors.
Duke Fashions Felicitated
with MSME Award
Carrera Jeans Partners
with LicenseWorks for
India Entry
Carrera Jeans has partnered with LicenseWorks,
the leading brand licensing agency, as it plans
to enter the Indian market next year. Carrera
sees India as an important growth market.
With its association with Licenseworks, Carrera
aims to expand into India through partnerships
with manufacturers and retailers across various
categories including apparel, footwear, and
accessories for men, women, and kids.
Rishabh Singla, managing partner at
Licenseworks added: “Carrera is an iconic brand
inspired by the popular ‘Carrera Panamericana’
race. We look forward to partner with some
best-in-class licensees in India to help launch a
complete collection of products across apparel,
footwear, and accessories.”
Excerpted from Fashion Network
Lakhs out of Business Due to E-commerce Despite 1.6 Per Cent
of Total Retail Sale on Flipkart, Amazon: CAIT
Despite e-commerce playing a miniscule part in India’s retail sales, lakhs of retailers are out of business, a trade body said
on Wednesday. Within a day after a World Bank report said that online sales on platforms such as Flipkart and Amazon
amount to only 1.6% of total retail transactions, seven crore members-strong CAIT said that “if only 1.6% of e-commerce
sales has potentially destroyed the existing ecosystem of Indian retail… then the future seems extremely bleak and grave
for India’s small retailers. The trade body also said that in just the last 12 months, more than 50,000 mobile retailers,
30,000 electronics retailers, about 25,000 kirana and 35,000 garment retailers have closed their business owing to
violations from e-commerce platforms in FDI policy.
The body also alleged that these e-tailers indulged in inventory control, predatory pricing, preferential seller treatment,
illegal exclusivity among other violations. Talking about Amazon and Flipkart, Praveen Khandelwal, National Secretary
General said: “They have consumed most of the FDI for funding the losses on account of deep discounting. So if such
companies are allowed to grow in the same manner, we can very well foresee what a precarious future is in store for India”.
CAIT and e-tailers have been in a tiff for over a year now.
Excerpted from Financial Express
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I APPAREL I
January 2020