Category: Domestic

Pepe Jeans plans to open 50 stores in India

Global denim and casual wear brand Pepe Jeans will step-up its presence in the country by opening 50 more stores this year and is also looking to enter the innerwear segment, a senior company official has said. In the innerwear segment, the company is planning to begin with men’s products and then will subsequently move into other categories. “Our target is to open 50 stores in India, which will take our store count to 270 by the end of this year,” Kavindra Mishra, MD and CEO of Pepe Jeans India, told “We are also looking at launching a separate...

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India should capitalise on eco-friendly fashion

Sustainable and eco-friendly fashion is a booming market worldwide and India as a country can contribute in a much bigger way than it is now to that segment, said Designer NanditaMahtani, who is in the industry for over a decade. She added that they have some of the best cottons, khadi and organic fabrics available at their disposal. The main issue is the processes tend to be very expensive. But soon enough, they should be able to find a balance and do their part. Known for her mastery in luxurious resort wear, Mahtani’s USP lies in her using Indian...

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Birla Cellulose fibres achieve USDA biobased certification

Grasim Industries Limited, a flagship company of Aditya Birla Group has earned the US Department of Agriculture (USDA) Certified Biobased Product label for its products- Birla Viscose, Birla Modal & Birla Excel. “We applaud Grasim Industries Ltd. for earning the USDA Certified Biobased Product label,” said Kate Lewis, USDA Bio Preferred Programme. “Products from Grasim Industries Ltd. are contributing to an ever expanding marketplace that adds value to renewable agriculture commodities, creates jobs in rural communities, and decreases our reliance on petroleum.” Third-party verification for a product’s biobased content is administered through the USDA BioPreferredProgramme. One of the goals...

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ChrysCapital set to buy Mufti in RS. 500cr deal

Private equity major ChrysCapital is set to acquire Indian denim and casual wear brand Mufti in a deal estimated at slightly over Rs. 500 cr, people with direct knowledge of the matter said. ChrysCapital is in exclusive discussions with Credo Brands Marketing, the owner of Mufti, and is completing due diligence ahead of signing a definitive buyout deal. Mufti Founder Kamal Khushlani holds a 65 per cent stake in the parent company, leaving rest with a set of investors, mostly high net worth investors. Khushlani, along with some of the investors, is selling stakes in the company that will...

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Denim sector could face fall in credit profile

The denim industry, representing below 10 per cent of the textile market, is likely to face deterioration in credit profile in the absence of improvements in realisations in FY18, says a recent report. Its operating margins could fall to 10-11 per cent in FY18 due to cost inflation amid surplus capacity in denim standard products with low cotton content. India Ratings and Research (Ind-Ra) has estimated prices to moderate in 2HFY18, highlighted in the report ‘Stable Input Prices, Fiscal Incentives to Support Textile and Cotton in FY18’. However, the denim surplus situation and inventory losses are likely to pressurise...

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