Union Knopf (India)

RetailNEWS
Woodland to Set up 50 More
Stores in 2017Woodland is
looking to
consolidate its
business by
setting up 50 more stores in
2017, to add to its already
existing 600 stores. The
adventure gear, shoe and apparel
brand Woodland would also be making a push to increase
its export volumes. Harkirat Singh, Managing Director
of Woodland declared that the sales volumes of the
company have gone down by about 15-20 per cent due to
demonetisation. The last few days have seen a reversal in
trend in the demand hence the company is expecting
business to be normalised during the first quarter of
2017. Singh said that the focus of coming fiscal would
be on consolidation and expansion. One thing going for
the adventure sports category is that a most of the sales is
done through the digital medium, be it the stores or
online sales, the latter currently accounts for about 15
per cent of total business volumes. The company which
generates 20 percent of its revenue through exports is
strengthening its presence in West Asia, Europe, South-
East Asia and the US. Referring to the company’s exports,
Singh observed that about 20 per cent of business comes
from exports. The company is gradually strengthening
presence in South-East Asia, West Asia, Europe and the
US. Singh observed that in the external markets it was
not necessary to set up stores there as the online partners
could be relied upon for growth.
Rs 8,835 cr MoU’s signed in
textile sector at the
Vibrant Gujarat Summit
Government claims
that MoUs worth
Rs 8,835 crore in
textile sector were
signed during a seminar at the
Vibrant Gujarat Summit.
The pacts are said to have been
signed in various segments including
textile parks, textile processing, machinery and carpet
development as per the statement of the Textiles Ministry.
Union Textiles Minister Smriti Irani described Gujarat
as a one-point sourcing hub for all kinds of textiles and
pointed out that the area has one of the largest
concentrations of textiles in India. Irani hoped that the
potential of Gujarat as a textile producing hub is yet to be
realized given the entrepreneurial spirit of Gujaratis.
She also pointed out that there are huge possibilities in
textile education in Gujarat.
In
News
Amazon unfazed by losses
in India
Amazon India
recorded a bleak
2016 as its losses
more than doubled
in the financial year 2015-16.
The online retailer had started
its India operations in June 2013
and has already invested two billion
dollars into its India business till now.
The company plans to spend another three billion
dollars in India in June this year. Amazon’s investments
include establishment of infrastructure, new fulfillment
centers and up gradation of technology. The company is
engaged in launching new products and services for its
customer and sellers being fully confident on its future
growth. As of now the company is not thinking of profits
as it will continue to pump in capital into the local
market. Amazon launched a host of global programs like
Prime, Pantry, Subscribe and save, Global Store among
others, which will be scaled up. Prime was Amazon’s
bestselling product during the festive sale. In 2016
Amazon also moved into the daily essentials category in
2016 and consumables and fashion would be its largest
categories
LimeRoad to sell
traditional MP handlooms
The e-commerce
platform, LimeRoad
has inked a
memorandum of
understanding (MoU) with
Madhya Pradesh Laghu Udyog
Nigam for online selling of
handlooms and handicraft
manufactured by the nigam. These products are mainly
are traditional weaves with contemporary designs.
LimeRoad already sells handloom and apparel produced
by the Nigam. The agreement was signed during the
National Vendor Development Program and Micro,
Small and Medium Enterprises (MSME) convention
2016 hosted jointly by the ministry of MSME,
Government of India and the department of MSME,
Government of Madhya Pradesh. Suchi Mukherjee the
founder and CEO of LimeRoad expressed satisfaction
that LimeRoad is selling Mrignayani products and said
that he wanted LimeRoad to be the most extensive
platform for products made by small-scale entrepreneurs
across India.
40
January 2017
APPAREL&Fashion