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  • Business
    Reuters

    India's Arvind Fashions posts smaller Q3 sales growth, sending shares down 9%

    India's Arvind Fashions, which retails clothing from brands such as Arrow, Calvin Klein and Tommy Hilfiger, reported a slowdown in revenue growth in the key holiday quarter and warned that any improvement would only come next quarter. Arvind Fashions' consolidated revenue rose about 5% to 11.25 billion rupees ($135.5 million) in the October-December quarter. However, Arvind Fashions' profit from continuing operations rose 14% to 301.2 million rupees in the third quarter.

  • Business
    Reuters

    British fashion retailer Boohoo partners with India's Myntra

    The UK-based group and its Dorothy Perkins and Nasty Gal brands will offer categories including dresses, tops, bottoms and footwear on the Indian site. The three brands will be housed under a dedicated online brand store on Myntra to enable shoppers to easily browse across the catalogs, the group added in a statement. "Boohoo, DP and Nasty Gal are poised to be well received by discerning fashion conscious consumers in the region," Myntra's Chief Business Officer Sharon Pais said.

  • Business
    Reuters

    India's Reliance launches first in-house premium fashion store

    BENGALURU (Reuters) -Reliance Industries Ltd's retail unit launched its first in-house premium fashion and lifestyle store on Thursday, as the billionaire Mukesh Ambani-led company continues to grab a bigger slice of India's luxury market. The new store chain called Azorte, the first of which was launched in Bengaluru, will compete with the likes of Mango and Industria de Diseno Textil SA (Inditex)-owned Zara, and cater to millenials and Gen Z. "The mid-premium fashion segment is one of the fastest growing consumer segments as millennials and the Gen Z are increasingly demanding the latest of international and contemporary Indian fashion," said Akhilesh Prasad, chief executive officer of the fashion and lifestyle arm of Reliance Retail.