FAST FASHION ISSUES
IPO ahead: Value-fashion retailer Ratnadeep Retail gets Sebi nod to raise funds through public issue
Ratnadeep Retail has received Sebi approval to launch an IPO comprising a fresh issue of up to Rs 400 crore and an offer for sale of 1.49 crore shares. The Hyderabad-based retailer plans to use part of the proceeds to repay borrowings and expand its store network across India.
From France to Albania, social unrest is setting Europe's streets ablaze
Across Europe, a wave of protests is sweeping through as citizens express their frustration over escalating living expenses and inadequate public services, particularly in education. France sees students rallying for enhanced educational facilities, while cities in Spain erupt in housing protests. Italy witnesses heated demonstrations over wage increases and healthcare issues. In Albania, the youth are clashing with authorities in anti-corruption protests.
Warren Buffett on 5 habits that feel like good investing but make you poorer
Buffett offered a bet in public and then waited. Thousands of managers who have grown rich telling people they can beat the market did not take it up. Only one man accepted. Nine years later, the scoreboard was not close, and the more revealing number is not the gap between them.
Want an early signal on the economy and stocks this festive season? Watch 19 stocks, and what their managements say in the next 20 days
There is a set of companies that sees the shape of the economy before economists do. They know when a household decides to spend or hold back; to buy better things or cheaper ones. This festive season, what these companies sell, and what they say about it afterwards, will tell you more about where consumption is headed than any official number. Watch them closely. Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components – earnings, fundamentals, relative valuation, risk, and price momentum – to generate standardised scores. SR+ Reports is a complimentary offering to ETPrime members.
India has gone from half-full to half-empty. That's excessive: Vincent Mortier, Group CIO, Amundi
Vincent Mortier, the chief investment officer of Amundi, reflects on the current state of Indian equities. He believes the recent decline in the market is a temporary issue related to negative narratives. Mortier identifies several potential catalysts for investment in India, including geopolitical resolutions and currency stabilization. He also discusses the intricate capital gains tax system affecting foreign investors' participation.
EU and China strike interim trade deal that could cut Chinese hybrid exports
China and the European Union have agreed on a preliminary trade deal to address trade imbalances. This deal includes reduced tariffs on certain European goods and measures for reliable rare earth supply chains. The EU trade commissioner noted that this agreement could significantly decrease Chinese electric vehicle imports. Both sides aim to resolve the underlying factors contributing to China's substantial trade surplus with the EU.
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From India to Vietnam: Why some firms are rethinking the China-plus-one strategy
Companies are bringing manufacturing back to China after facing difficulties abroad. Replicating China's factory ecosystem and skilled labor proves challenging for many firms. Overseas supply gaps and production constraints are prompting this manufacturing shift. Some businesses are restoring Chinese suppliers due to reliability and efficiency. This trend unfolds as companies seek stable production amidst global uncertainties.
MDR on UPI coming soon; India's new class of robot workers
Happy Friday! With a fee on UPI set to come into the picture soon, issuing banks are poised to claim the biggest slice. This and more in today’s ETtech Morning Dispatch.
A French giant heads back to India after 12 years with bigger bets
Carrefour is back in India, but it is not rebuilding the hypermarket business it abandoned in 2014. This time, the French retailer is betting on smaller stores, local products, private labels and eventually quick commerce—taking on Reliance, DMart, Blinkit and others with profitability, rather than scale alone, at the centre of its strategy.
‘Pulse’ check: How PhonePe is turning transaction data into market intelligence
In an exclusive conversation with The Economic Times, PhonePe’s Karthik Raghupathy explained how PulsePro was born out of demand for postal code-level analysis, deeper merchant-category insights and richer consumer demographic information.
Global Market: Shein shares slip after lacklustre Hong Kong debut
Shein shares fell over 3% after a weak Hong Kong debut, highlighting investor concerns over valuation, slowing growth and shrinking margins. The $1.7 billion IPO valued the fast-fashion retailer at $26.5 billion, far below its 2022 peak. Rising tariffs, regulatory scrutiny, customs costs and competition are increasingly challenging Shein’s business model and growth prospects.
Purple Style Labs IPO Day 2: GMP, subscription status, key details — Should you subscribe?
Purple Style Labs IPO enters its second bidding day with subdued demand and a GMP of around 1%, down from 5%. The Rs 680-crore issue has seen limited subscription, while ongoing losses and high valuation concerns weigh on sentiment despite strong revenue growth, celebrity backing and expansion of Pernia’s Pop-Up Shop.
Fast-fashion giant Shein plunges 10% on Hong Kong debut
In its inaugural trading day in Hong Kong, fast-fashion retailer Shein experienced a ten percent drop in stock prices. The company successfully secured US$1.7 billion through its initial public offering, although its valuation now faces challenges at US$26.3 billion, a decline from previous private fundraising rounds in 2022. Despite plans to enhance technology and expand globally, analysts foresee hurdles from competition and new import duties impacting growth prospects.
'Sonam, it's done bro': Salman Khan's hunger strike comment finally gets a reply from Sonam Wangchuk. 'Must have been compulsions'
Sonam Wangchuk has finally responded to Salman Khan’s viral “Sonam, it’s done, bro” remark, which the actor made while urging him to end his hunger strike during protests over the alleged NEET-UG paper leak. Wangchuk said, “Majbooriyan rahi hongi sabki,” adding that he respects the fact that Salman spoke about the issue but does not want to comment on the actor’s compulsions. Despite Salman’s appeal, Wangchuk continued his hunger strike until the government agreed to meet his demands in writing.
Storm in a wine glass: As climate change and young consumers reshape the wine world, can India take advantage?
Global wine regions face climate challenges and declining demand. India's wine tourism is experiencing significant growth and expansion. Younger consumers are driving demand for sustainable and diverse wine options. Technology and new farming methods are future-proofing vineyards globally. India is poised to leverage these shifts in the evolving wine landscape.
Blinkit to freeze new product launches amid festive rush
Blinkit’s decision to pause new products launched on its platform comes as quick commerce and ecommerce platforms prepare for the festive season sale rush. This year’s festive season starts with Onam and Raksha Bandhan this week and will go on till Diwali on November 8.
The world sent Chile nearly 60,000 tons of used clothes a year; what could not be sold formed a desert mountain visible from space
Vast clothing dumps in Chile's Atacama Desert highlight fast fashion's global impact. Thousands of tons of discarded garments arrive annually from wealthier nations. These textiles, often synthetic, persist for centuries in the desert landscape. The issue reflects a global supply chain externalizing environmental costs onto importing countries. This situation demands systemic changes beyond individual consumer responsibility.
Italy fines fast-fashion giant Shein for 'green' claims
The AGCM watchdog accuses Shein of having "adopted a misleading communication strategy regarding the characteristics and environmental impact of its clothing products".
Kaytex Fabrics IPO GMP hints at 22% listing pop; Issue subscribed 12 times on final day. Check details here
The Rs 69.81 crore book-built IPO of Kaytex Fabrics comprises a fresh issue of 31.99 lakh shares worth Rs 57.59 crore, along with an offer for sale (OFS) of 6.79 lakh shares totalling Rs 12.23 crore.
Rapid fashion delivery gathers pace, but long-term viability in question
The push towards rapid delivery began with quick commerce platforms like Zepto, Swiggy Instamart and Blinkit expanding the categories of products they deliver. These platforms, which were initially focusing on grocery delivery, partnered with brands like Jockey, Manyavar, Puma and Adidas to offer apparel and accessories, although limited to essentials such as innerwear, socks, gym wear, basic tees and track pants.
Shein hit with complaint from EU consumer group over 'dark patterns'
The BEUC filed a complaint against Shein with the European Commission, accusing the fast-fashion giant of using “dark patterns” to push excessive buying. These include pop-ups, countdowns, and gamification tactics. BEUC says such strategies fuel mass consumption. Shein claims compliance efforts are underway, but faces broader EU scrutiny and potential fines over consumer and digital regulation breaches.
Myntra receives Rs 1,063 crore cash infusion from Singapore-based parent entity
Myntra secured Rs 1,062.5 crore ($124 million) funding from parent FK Myntra Holdings amid its expansion to Singapore. The firm launched Myntra Global to serve the Indian diaspora, turning profitable in FY24 with Rs 31 crore net profit. It is also competing in rapid delivery alongside rivals like Zepto and Newme.
Four companies receive Sebi approval for initial public offerings
Ethnic wear fashion label Biba Fashion, which is backed by Warburg Pincus and Faering Capital, had filed the Draft Red Herring Prospectus (DRHP) for an IPO in April.The proposed IPO comprises fresh issuance of equity shares worth Rs 90 crore and an Offer For Sale (OFS) of 2.77 crore equity shares by the promoter and existing investors, as per the draft papers.
How to make your wardrobes sustainable
While this seems incredible, it's not. Over the past 15 years, clothing production has doubled while the length of time we actually wear these clothes has fallen by nearly 40 per cent.
Make your wardrobe sustainable. Cut back on 75% of clothing purchases & try renting outfits
Buying secondhand clothes or using rental services are ways of changing your wardrobe with lower impact.
From Zara to H&M, fast fashion faces the age of reckoning
The fashion industry accounts for 8-10% of global carbon emissions - more than all international flights and maritime shipping combined. With sustainability being the buzzword that is gaining traction across the globe, fashion retailers are going all out in aligning with better environmental practices.
H&M's CEO talks about a 'terrible' threat to the fashion industry
Fashion has taken heat in recent years for the industry's role in producing 10% of global greenhouse gas emissions through manufacturing and distribution, in addition to water pollution, textile waste, and social burdens of low-quality working conditions.
Why fast fashion is bad for people and planet
Globally, 80 billion pieces of new clothing are purchased translating into $1.2 trillion annually. Major production hubs are China and Bangladesh. From the growth of water-intensive cotton to the release of untreated dyes into local water sources, worker’s low wages poor working conditions, the environmental and social costs involved are widespread.
Now, NIFT to host a sustainable fashion film festival
National Institute of Fashion Technology, Bengaluru, is hosting a film festival on sustainable fashion.
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