LehLah, a fashion-tech platform, has teamed up with Bollywood star Athiya Shetty to introduce the ‘Your Closet’ campaign.
The campaign will showcase select pieces from Shetty’s personal wardrobe exclusively on its app, providing users with access.
Building on the collaboration, LehLah has introduced another campaign starring Shetty. In the video, she extends a personal invitation to users to explore her carefully curated collection.
“Collaborating with Athiya has been an absolute joy. Her innate sense of style and commitment to empowering others aligns perfectly with LehLah’s ethos. Together, we are not just offering fashion; we’re fostering a community of self-expression and support, all while contributing to a cause close to our hearts.” said Ashna Ruia, founder of LehLah.
The proceeds from the collaboration will go towards the Vipla Foundation, furthering its mission of empowering women and children.
“I am thrilled to share a part of my personal style journey with everyone through LehLah. Fashion is not just about what you wear, but how it makes you feel, and I hope my pre-loved fashion collection inspires confidence and individuality in all who explore it on the app,” said Shetty.
Launched in November 2022, LehLah is a consumer-focused fashion tech app tailored to help creators post their curated looks and tag every product with shoppable links to LehLah’s partner brands. This feature enables consumers to shop tagged products from the creator’s content directly with a single click.
The UK-based cosmetics company, The Body Shop, shut down all of its US-based operations and will soon be closing dozens of Canadian store locations after filing for bankruptcy, CNN reported.
Earlier this month, The Body Shop, in an official release, announced that its US subsidiary was no longer operational, effective March 1.
It further added that 33 of its 105 stores in Canada will begin liquidation sales immediately and “online sales via Canada’s e-commerce store will stop,” but that all Canadian locations will remain open for the time being, reported CNN.
According to reports, high inflation in recent years has affected traditional retailers, particularly those like The Body Shop, which predominantly operated out of malls and were aimed at the middle class.
The UK-based cosmetics company, founded in 1976 by human rights activist and environmental campaigner Anita Roddick, is known for products it markets as natural, sustainable, ethical and cruelty-free.
It was one of the first companies to prohibit testing on animals for many of its products, according to CNN.
Later in 2019, it was certified as a “B Corp,” a designation given to companies that meet certain transparency and environmental conscientiousness standards.
By 2023, it had expanded to more than 2,500 retail locations in over 80 countries and was available to purchase online in more than 60 markets.
Since its inception, The Body Shop has changed hands several times. It was purchased by cosmetics giant L’Oreal in 2006 for more than a billion dollars and later sold to Brazilian company Natura in 2017 for another billion dollars, reported CNN.
However, the brand fell into hard times and has been ailing in recent years.
In an early 2023 report, Natura noted that The Body Shop was “(facing) headwinds,” with a year-over-year decline of 13.5 per cent in 2022, a year the company said “was far from easy” for the brand. Its direct-to-consumer channels, which had “benefitted during Covid-19,” returned to “more normalized pre-pandemic levels,” further impacting sales numbers, Natura said.
Moreover, late last year, The Body Shop was sold to asset management group Aurelius for about USD 266 million, as reported by CNN.
Elista, a leading Indian manufacturer specializing in electronics, home appliances, IT, and mobile accessories, has entered the refrigerator market with the introduction of a new line-up of Single-door refrigerators. Priced starting at INR 23,999, the new line-up includes six cutting-edge refrigerators, offering capacities ranging from 190 to 230 litres and energy efficiency ratings from 1-star to 4-star, designed to withstand the intense summer heat.
Elista’s strategic entry into the refrigerator market aligns seamlessly with the rapid expansion of India’s refrigerator sector, projected to surge at a Compound Annual Growth Rate (CAGR) of 10.2% from 2023 to 2031. This timely expansion positions Elista to drive significant growth, setting new benchmarks for innovation and customer satisfaction. With a focus on affordability and longer lifecycle, Elista’s energy-efficient refrigerators offer a 10-year warranty on the compressor and a 1-year comprehensive warranty for long-term, hassle-free performance.
Commenting on the launch, Pawan Kumar, CEO of Elista, said, “The launch of Elista Refrigerators underscores our commitment to delivering segment-leading technology products at versatile price points, serving as a testament to Elista’s profound understanding of the diverse needs of Indian consumers. Proudly manufactured under the ‘Make in India’ initiative, the refrigerators are equipped with cutting-edge features to exceed consumer expectations. We are optimistic that our first refrigerator line-up will achieve the same level of success that our Smart TV range has enjoyed in the Indian market. We are anticipating that this launch will be pivotal in achieving the domestic revenue target of INR 500 crore from the nation-wide sale by the end of the year 2025.”
Elista’s refrigerators, customized for India’s climate, uphold a freezer temperature of -19±1°C to ensure optimal freshness, while incorporating convenient features such as defrost indicators, child locks, and thermostat controls. Available in solid, glittery, and glossy finishes, these refrigerators provide a diverse range of options, from minimalist door designs to premium graphics, each model uniquely crafted to enhance your kitchen’s ambiance. These products epitomize a flawless fusion of cutting-edge innovation and technological advancements, poised to revolutionize indoor cooling experiences for consumers.
The ‘Glass door range’ (Model- EW 2053FR) offers options with a 4-star rating, equipped with a copper suction tube and semi-auto defrost type. This range presents eco-friendly attributes such as fast-cooling, anti-fungal door gasket, nano health care, and rust-resistant metal parts. Incorporating a Humidity Knob to combat interior humidity, these refrigerators extend the shelf life of food items by preserving their freshness. Additionally, the curved clean back design safeguards the condenser tubing, significantly enhancing the appliance’s durability. Internally, these refrigerators feature glass shelves for added elegance, accompanied by a soft crisper basket and bottle separators for easy maintenance and cleanliness. With a reciprocating compressor and overload protector, these refrigerators ensure a seamless and superior user experience.
Elista maintains an extensive network of over 400 distributors nationwide. The latest range of Elista refrigerators is available via the company’s website, online platforms, and offline channels, spanning over 20,000 outlets throughout India.
Santoni, the high-end footwear label that made its debut in India through a collaboration with Luxerati Retail Pvt Ltd. in 2018, is gearing up to allocate INR 15 crore for the establishment of two additional stores in the country, as stated by Sanjay Kataria, the managing director of Luxerati Retail Pvt Ltd.
The Italian brand, which opened its first store at DLF Emporio, plans to open its next store in Mumbai this year and in either Hyderabad or Bengaluru over the next 2-3 years.
“This is the right time to open our next store as we have observed 15 per cent year-on-year growth and 60-70 per cent new customers coming in monthly. Apart from this, we have also been getting queries from other parts of the country like Mumbai and Hyderabad,” he stated.
“Currently, the sales in Mumbai maybe 70 per cent of what we do in Delhi, but I’m the growth is much more now. So hopefully it should be equivalent to Delhi in times to come,” he further added.
The store in Delhi spans across an area of 800 square feet, and going forward, the brand will be opening stores across 800-1,000 square feet.
Until the last fiscal year, women’s wear accounted for 10 percent of the brand’s revenue, with the remaining 90 percent attributed to men’s wear.
“However, the ratio has changed to 30:70. At present, the net profitability of the brand stands at 15 per cent and we aim to scale it to 20 per cent by focusing on three aspects of the collection now, women’s, sneakers, and bespoke,” he asserted.
“We are also planning to expand the online presence of the brand in India. We will be mentioning the products and their price only for reference purposes. We won’t be linking it to the payment gateway right now and we have no plans to maintain separate stock for online shopping yet,” he further added.
The brand, aiming to reach INR 7.75 crore by the end of this fiscal year, targets revenue of INR 10 crore from the Delhi store and INR 3 crore from the Mumbai store by the following fiscal year’s end, over the span of the next two years.
“Currently, at Luxerati Retail, we have no plans to introduce any other luxury fashion brand here in India,” he concluded.
Jacob John, president of premium brands at ABFRL said, “This expansion aligns with our ambitious growth strategy as we continue to expand our retail footprint across the globe, following recent openings in Mauritius and the UAE.”
Underlining the importance of the launch, Dr. Hassan Kunhi, chairman of HK Group, highlighted that it brings forth a diverse selection of fashionable apparel to the Qatar market, enriching the shopping journey for customers.
ITC Hotels has announced the signing of a management agreement with Narne Hotels and Resorts Private Limited, further expanding the Welcomhotel brand presence in South India.
The company stated that a 150-key hotel situated in Madikeri hill town within the Kodagu district of Karnataka will feature two restaurants and bars, a lounge, and over 1,300 square meters of meeting space.
The establishment is situated on MG Road in the heart of central Madikeri.
Madikeri is renowned for the Raja’s Seat, a historic monument dating back 200 years, which provides breathtaking views of forests, rice paddy fields, and is famed for its stunning sunrise and sunset vistas.
Anil Chadha, divisional chief executive at ITC Hotels said Madikeri is an important market for ITC Hotels.
“Over recent years, this region has grown in popularity and we saw a niche space for leisure travel. Through Welcomhotel Madikeri we bring the signature hospitality of ITC Hotels to this beautiful city,” he said.
“Madikeri reflects the rich Kodava culture and is home to heritage cuisine that many wish to explore. With this signing ITC’s Hotel group further strengthens its presence in Karnataka, where we currently operate 11 hotels and over 1,300 rooms under various brands including ITC Hotels, Welcomhotel, Fortune and Welcomheritage,” he added.
Saibabu Appalaneni, CEO of Narne Hotel and Resorts Private Limited, highlighted that ITC Hotels are renowned for their expertise in hospitality and their dedication to promoting regional cuisine.
“We believe Welcomhotel Madikeri has strong potential and will provide memorable guest experiences,” he added.
The Kodagu district is famed for its verdant valleys, sprawling coffee plantations, and aromatic spice trails. It stands out as one of the rare areas in South India where the elusive Neelakurinji flower blooms once every 12 years. Offering a diverse range of experiences for travelers, including spiritual sites, wildlife encounters, adventure activities, and leisure pursuits, the region has seen a notable increase in tourist footfall. This growth is further fueled by demand from agricultural and administrative sectors, contributing to a flourishing business segment in the area.
Alcoholic beverages makers’ body CIABC on Monday said the free trade agreement between India and four European nation bloc EFTA will help push the growth of the domestic wine industry. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway and Switzerland.
The Confederation of Indian Alcoholic Beverage Companies (CIABC) Director General Vinod Giri said that time-bound reduction of customs duties on an equitable and sustainable level will support the domestic industry.
As per the documents of the agreement, duty concessions on wine are similar to those given to Australia, with no concessions for wines costing less than USD 5.
Wines priced between USD 5 and less than USD 15 will see a duty reduction from 150 per cent to 100 per cent in the first year, then decreasing gradually to 50 per cent over 10 years.
For wines costing USD 15 or more, he said, the initial duty cut is from 150 per cent to 75 per cent, eventually reducing to 25 per cent after 10 years.
“The India-EFTA trade deal will help in providing easier access to high-quality wines from EFTA countries without affecting the domestic wine industry adversely by ensuring that the concessions cut-off remains above the lower price segments where most of the domestic industry operates,” Giri said.
He said that the deal will also help the domestic industry further lift its quality by exposure to quality wines and possible investments.
“The deal will spur growth of the Indian wine industry,” Giri noted.
He further said the time horizon of 10 years for the staggered reduction of customs duties is long enough to help the domestic industry raise its competitiveness and product quality to match the best.
“The deal is similar to India’s trade deal with Australia which ensures no cross effects. The domestic wine industry supports over 6,000 grape-growing farmers,” he added.
Wedding-related expenditure has remained muted this fiscal year, unlike FY23, as several company chief executives have observed. This can be attributed to the absence of pent-up demand, a lower number of wedding dates, and the overall impact of the consumption slowdown.
According to industry estimates, sales in categories such as ethnic wear, wedding wear, gold jewellery, and electronic household appliances have experienced a decline of 10-20% in FY24 up to February, compared to the corresponding period in FY23.
Nonetheless, chief executives noted that luxury and premium products defied the trend of declining sales, reflecting the broader pattern in consumption.
Vedant Fashions, renowned for brands like Manyavar and Mohey in the wedding and ethnic apparel sector, informed investors recently that its overall performance for the nine months ending December 2023 was affected by several factors. These included a notable decrease in weddings, a general slowdown affecting consumer sentiment, and the higher base effect from the previous year post-COVID.
“When we talk to all the people in the industry this includes banquet hall owners, five star hotels, event organizers we see an overall trend where everyone is kind of commenting that the (wedding) business this year has been lower than last year,” said Vedant Modi, chief revenue officer at Vedant Fashions. He said there is a bit of “economic slowdown” across the board especially in tier two and tier three markets.
The rising gold prices have added to the challenge. Gold prices have been on an upward trajectory since October, spurred by the conflict between Israel and Palestine. Prices surged by 7.6% from INR 61,000 per 10 gm in early November to a record high of INR 65,635 per 10 gm on Monday. Consequently, demand for gold jewelry has dropped by more than 20% between November and February compared to the same period last fiscal year.
Ishu Datwani, director of Mumbai-based Anmol Jewellers, highlighted that the mass market wedding jewellery segment is experiencing the most significant impact. Conversely, luxury items adorned with diamonds and colored gemstones are defying the trend, Datwani noted.
Sales across various mass-market segments, spanning from fast-moving consumer goods, apparel, and shoes to electronic products, have been significantly affected since the onset of Covid. This impact has been compounded by high inflation and negative consumer sentiment prevailing across both urban and rural India.
Projections for demand improvement have been pushed back from last year to the upcoming fiscal, with promising macroeconomic factors providing a glimmer of hope. Reserve Bank of India Governor Shaktikanta Das recently stated that India’s economy is expected to grow faster than the previous estimate of 7.6% in FY24 and may maintain a growth rate of 7% in the following fiscal year as well.
Kamal Nandi, the business head of Godrej Appliances, stated that mass products did not witness the anticipated sales surge during this wedding season. Now, the only remaining hope lies in a weather-dependent recovery in demand during the summer.
According to an industry executive, the wholesale textile market in Surat, serving smaller towns and rural areas, has seen a significant 40% decline in wedding-related demand.
This stands in stark contrast to the recent report from leading apparel manufacturer Aditya Birla Fashion & Retail, which highlighted impressive growth in its designer brands, largely attributed to the wedding season. Sabyasachi saw a remarkable 43% year-on-year increase, achieving its highest-ever quarterly revenue. Additionally, Shantnu & Nikhil experienced a growth of 30%, while House of Masaba recorded a 16% increase.
The fitment committee is expected to examine instances where slight alterations in composition lead to varying tax brackets, causing confusion in tax obligations, particularly within the fast-moving consumer goods (FMCG) sector, which has recently encountered a surge in tax notifications.
Individuals familiar with the matter stated that the list will be forwarded to the group of ministers on the rate rationalization committee during the next meeting of the Goods and Services Tax (GST) Council.
“Classification issue is a problem with some products and the fitment committee is working on the detail list where there is grey area and which has attracted maximum litigation,” a senior official told.
According to the official, there are approximately 25 to 30 goods and services that exhibit overlapping categorization.
Finance Minister Nirmala Sitharaman also raised the issue during her meeting with enforcement officials of both central and state goods and services tax, urging the board to address classification-related issues as a “priority.”
“The fitment committee is looking into the matter and when the council meets next, the proposal will be referred to the group of ministers on rate rationalisation,” the official said.
In November last year, numerous FMCG companies utilizing the “extruded” method for manufacturing chips and namkeens were instructed to remit 18% GST instead of 12%, resulting in the issuance of tax notices for the outstanding amount due by March 31, 2024. Extrusion is a food processing method employed to produce “puffed” or “expanded” snacks that are readily consumable. These snacks are primarily crafted from cereal flour or starches, characterized by their high calorie and fat content, along with low protein, rendering them perceived as unhealthy.
In August 2023, the Center clarified that any snacks produced through the extrusion process should be subject to an 18% tax rate, and the notices from the Directorate General of GST Intelligence (DGGI) were issued in accordance with this clarification.
Nevertheless, the FMCG industry highlighted that certain items like namkeen, fruit-based alcoholic and non-alcoholic beverages, flavored milk, and other processed food items face overlapping classification issues, often resulting in varying advance rulings across different states.
“Traditionally bhujia is taxed at 12% GST but now most of the manufacturers are using extrusion method to reduce fat content. This creates a grey area and many traditional bhujia makers now facing additional tax demand,” said a namkeen manufacturer, who did not wish to be identified. In the absence of a definition, the industry asked for clarity from the government, especially after many firms received DGGI notices.
Ahead of the approaching deadline, the FMCG industry made a detailed representation to the finance ministry and sought a resolution to avoid unnecessary litigation and notices.
Magicpin, a hyperlocal e-commerce startup, has expanded its services into the logistics aggregation vertical with the launch of its new platform ‘Velocity’, as announced on Monday.
According to a statement from the company, Magicpin will serve as an aggregator for its third-party logistics (3PL) partners like Shadowfax, Dunzo, Rapido, Porter, OLA, and Zypp through its platform Velocity. This consolidation of 3PL services under one roof aims to benefit brands and sellers.
Velocity will additionally enable rapid commerce services for specific segments.
“Velocity by Magicpin empowers businesses to scale effortlessly and thrive in today’s competitive market. With our strategic partnerships and advanced tech, we’re already serving over 20 merchants and delivering 5,000 orders per day. Moving forward, we are planning to scale up significantly, aiming to handle over 1 lakh orders daily within a year,” Magicpin, co-founder, Anshoo Sharma said.
Velocity boasts hyperlocal deliveries completed within 30 minutes, live tracking of workforce based on maps, instant updates on order status in real-time, and integrated customer feedback mechanisms.
The company has already formed partnerships with more than 20 merchants, which include KFC, Burger King, Rebel Foods (Faasos, Oven Story, Behrouz Biryani), and Eat Club (Box8, Mojo Pizza, Mealful Wraps).
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