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The brand, which is targeting Rs 320 plus crore of net revenue for FY 2018-2019, has been experiencing flat same store sales growth for the last few years on account of economic issues and competition. It is targeting 10-15 percent same store sales growth in the current financial year on the back of economic growth and also on account of focus on small towns. “The entire garments market in India is expected to be around US$ 60 billion currently, of which no more than 5 percent has moved towards organised retail, in comparison to developed economies where this proportion could be as high as 60 percent. We believe that the share of organized retail could easily double to 10 percent over the next few years. Given our focus on territories and cities where the penetration of organised retail is no more than 1 or 2 percent, we believe that we could easily maintain growth rates of 30-40 percent per annum for the next several years,” concludes Agarwal. Walmart has acquired lingerie brand Bare Necessities.Bare Necessities was founded in 1998 and offers more than 100,000 SKUs from more than 160 brands, including an extensive assortment of bras, swimwear, shapewear and sleepwear “Customers are starting to see a different experience when they shop Walmart.com for fashion. The shopping experience is clean and modern. We’re offering editorial content to inspire customers. And, we’re significantly expanding our assortment, including introducing new brands like the recently launched exclusive EV1 line with Ellen DeGeneres and our Lord & Taylor premium brands,” said Denise Incandela, Head of Fashion, Walmart U.S. eCommerce. She added, “As we continue to build our assortment, we are also focused on bringing on the right talent and expertise to drive our fashion business. With that in mind, today, I’m thrilled to announce the acquisition of Bare Necessities, a leading intimates online retailer, who will join the Walmart U.S. eCommerce portfolio.” Bare Necessities was founded in 1998 and offers more than 100,000 SKUs from more than 160 brands, including an extensive assortment of bras, swimwear, shapewear and sleepwear. Intimates, a category that has been aggressively growing online, has complex sizing and highly specialized products. Bare Necessities will bring deep category expertise, a content offering designed to educate intimates shoppers, as well as strong brand relationships and operational capabilities. “The acquisition of Bare Necessities fits well into our broader acquisition strategy, which includes two different types of companies: 1) category leaders with specialized expertise and assortment that can help enhance the customer experience on Walmart.com and Jet.com (think Hayneedle, Moosejaw and Shoes.com) and 2) digital brands that offer unique products customers can’t find anywhere else (think Bonobos, Modcloth and the recently-acquired ELOQUII). Bare Necessities fits into the former,” she said. Bare Necessities will continue to operate its site as it has and will run as a standalone and complementary brand to the other eCommerce sites. Over time, for those brands that would like to serve additional customers, Walmart will work to integrate the Bare Necessities’ assortment onto Walmart.com and Jet.com. As part of the acquisition, Noah Wrubel, CEO and Co-founder of Bare Necessities, will lead the intimates category for both Walmart.com and Jet.com, while also continuing to run Bare Necessities. Established in 1999, Manish Creations is a prominent men’s ethnic wear brand from Kolkata. The brand focuses on consumers seeking wedding, party and occasion wear. It caters to all segments in the market. It offers sherwanis, kurta-pyjama sets, kurta-jacket sets, kurtas, Indo-western wear, etc., for all occasion with accessories to compliment the main attire.Manish Creations has 27 exclusive brand stores, which it plans to take it to 40 by March 2019. Ensuring designs with sober embroidery and texture detailing at economic price range, Manish Creations uses the best of handloom fabrics which are rich in texture and quality. Following the fast changing trends in men’s ethnic wear, the brand is focusing more on cuts. Consumers are always looking for new products and new trends for every occasion. Unlike in the past, when ethnic wear was restricted to weddings and the festive season only, today it has become a trend. Today, a consumer’s wardrobe has different attire according to specific occasions – these could be anything from birthdays to weddings, festivals and more. The consumer is concerned about his image and is shopping more to dress according to occasions. This has resulted in increased spending on occasion wear. “Considering this scenario, we are upgrading our occasion wear collection basket at stores to attract a major segment of ethnic wear buyers,” said Sanjay Das, Retail Head, Manish Creations. “We will be playing more with our core line along with some fashion cuts and new fabrics in linen, cotton and brocade,” he adds. Retail Presence Manish Creations has 27 exclusive brand stores, which it plans to take it to 40 by March 2019. The brand has presence in 500+ multi-brand outlets and large format stores such as Central. “We look forward to increasing our MBO and EBO visibility in metro cities where we are not available, along with strengthening our presence in the existing markets,” Das says. “Since consumers are buying casual ethnic wear a lot from portals, we are promoting our core product line aggressively online on Amazon, Myntra, Jabong and Flipkart,” he adds. According to Das, the biggest advantage of a social media platform is that a product reaches to consumers in every corner of India – from metro cities to Tier III cities. However, he says product options are limited on e-commerce platforms whereas retail outlets provide more varieties along with latest trends. Das also feels that in ethnic wear is a category in which consumers have very specific choices regarding colours, designs and fabrics before they make a purchase. These are options which an online marketplace may not be able to offer. 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