+Guidelines on
Prime Minister's Employment Generation Programme

+Fashion
+WTO news
+Liquor News
+ Airport News
+Export News
+PAN Corner
+Service tax news
+SC landmark rulings

 

 

http://www.thesynergyonline.com/fashion.htm

SATURDAY JULY 17 2010

 

 

Thesynergyonline Fashion Bureau

NEW DELHI, JULY 17 :
LEADING actress of the movie Once upon a Time in Mumbai, Prachi Desai, was the “bling thing” at the Giantti store at South Extension, today. She interacted with the city’s jewellery connoisseurs and celebrated the brand’s growing popularity in the Capital. 

Giantti is an exclusive showroom for exquisite high-end international and domestic jewellery brands, offering consumers a wide range of choices all under one roof. Its unique international ambience coupled with the personal attention of expert jewellers for professional guidance, offers consumers an unforgettable shopping experience.

The international brands available at Giantti include Stefan Hafner, La Nouvelle Bague, Poratti, IOSI, Bliss, Greggio, Rosato, Calgaro, etc. Giantti also houses high end Indian brands like Nizam, Parineeta, Nakshatra Eternity and the World of Solitaire among others.

This is one of the three Giantti showrooms in the city. The other two showrooms in Delhi at the MGF Mall in Saket and Gold Souk at Gurgaon, have also received an overwhelming response from consumers. Besides Delhi, there are also Giantti stores in Mumbai, Bangalore and Ahmedabad. Over the next two years we aim to open another 18-20 Giantti stores in significant urban markets across the country.

Mr. Mehul Choksi Chairman and Managing Director Gitanjali Group said, “Through Giantti we are pleased to offer the Indian luxury consumer products, ambience and service of the highest international quality. Now they have a range of choices that are synonymous with luxury and style. Customers are our pride and it is our endeavor to engage and appreciate our loyal clientele.”

Actress Prachi Desai added, “It is amazing to see so many leading well known brands available under the same roof. It is a one stop shop for all the jewellery lovers who want to experience luxury and style at its best. From contemporary to modern to casual to traditional, this showroom has it all.” (editor@thesynergyonline.com) 

GIANTTI-LUXURY ENSEMBLE , GOLD SOUK SHOWCASE DESIGNER JEWELLERY, SILVERWARE

Thesynergyonline Fashion Bureau



GURGAON , JULY 10 :
INDIAN and International Jewelry and Silverware Showcase” exhibition was inaugurated by Giantti in association with Gold Souk in Delhi today. The exhibition will commence at Gold Souk from July 9 to 11, 2010. Giantti hosted an exclusive evening for Wine Club Gurgaon members to showcase jewellery and silverware collection.

 

The exclusive evening experienced the dazzle of Giantti in a fashion sequence supported by ‘Study by Janak’ as attire partner. Sonal Chauhan, the actress from movie Jannat, was the show stopper for the fashion show specially hosted for the Gurgaon wine club members.
 

Mr. Mehul Choksi, CMD, Gitanjali said, “Through Giantti we are pleased to offer the Indian luxury consumer products, ambience and service of the highest international quality. Now they have a range of choices that are synonymous with luxury and style. We have two Giantti stores in Mumbai, one in Bangalore and this is our third in Delhi. Over the next two years we aim to open another 18-20 Giantti stores in significant urban markets across the country.”

Sonal Chouhan added with similar sentiments, “It is amazing to see so many leading well known brands available under the same roof. It is a one stop shop for all the jewllery lovers who want to experience luxury and style at its best. From contemporary to modern to casual to traditional, this showroom has it all.” She also visited the b4 the event Giantti store walk at Gold Souk before the event started.
This is the third Giantti showroom in the city and is spread over 1500 sqft. The earlier two showrooms in Delhi at the MGF Mall in Saket and at South Extension, have received an overwhelming response from consumers in Delhi.

Giantti is an exclusive showroom for exquisite high-end international and domestic jewellery brands, offering consumers a wide range of choices all under one roof. Its unique international ambience coupled with the personal attention of expert jewellers for professional guidance, offers consumers an unforgettable shopping experience. The reputed international brands available at Giantti include Stefan Hafner, La Nouvelle Bague, Roberta Poratti, IOSI, Staurino, Bliss, Greggio, Rosato, Calgaro. It also houses Indian brands like Nizam, Parineeta and Nakshatra Eternity and the World of Solitaire among others. (editor@thesynergyonline.com)


 

GITANJALI LIFESTYLE PRESENTS GIANTTI SUPER SHOW

Thesynergyonline Fashion Bureau

NEW DELHI, APRIL 25 :
GITANJALI Lifestyle hosted the Giantti Supercar Show, a two- day event at Delhi featuring some of the city’s top super cars and their celebrity owners, as well as an exciting inaugural party that brought together exotic jewellery and flamboyant super cars.

The event began with the Inaugural party at DLF Emporio on Saturday night where the highlight of the evening was a fashion show with some of the leading models from across the country walking the ramp for designer G Pia Fleming adorned with Giantti jewellery from Gitanjali Lifestyle. A few of the premium cars belonging to members of the club were also on display, adding a royal touch to the ambience.

Among those present on the occasion were Dino Morea, Luke Kenny,Ayesha Thapar, Priya Chatwal, Charu Sachdev , Pawan Munjal and other well known celebrities and socialites.

The Giantti Supercar Show, held on Sunday, commenced with a rally that provided the city with an incredible view of some spectacular and impressive cars each with a minimum of 400BHP (Lamborgini’s, Ferraris, Aston Martins, Rolls Royces etc). The event was organized by the CannonBall club, an exclusive group of owners of these iconic machines.

The CannonBall Club was initiated in October 2009 with one Super Car as its first patron. Ever since, the Club has been organising drive events and social gatherings with its supercars on a regular basis. Some of the spectacular vehicles owned by club members include Ferrari F430 Spider, Lamborghini Gallardo, Porsche 911 Turbo, Aston Martin DB9, SL 63 AMG, Maserati GTS.

Speaking on the occasion, Mr. Mehul Choksi, CMD, Gitanjali Group said, “Gitanjali feels privileged to be associated with Super Car Show 2010. In association with the exclusive and prestigious club we could offer our patrons an unprecedented weekend of top sport, fashion and glamour, on a scale never before witnessed in Delhi.” (editor@thesynergyonline.com)

LILLIPUT KIDSWEAR UNVEILS SPRING-SUMMER COLLECTION

Thersynergyonline Fashion Bureau

NEW DELHI, APRIL 16 :
LILLIPUT, a dominant player in the Indian kidswear industry, has launched their Spring-Summer '10 Collection. The new collection flaunts the exuberance and capriciousness of spring and the warm kiss of summer. Lilliput Spring-Summer apparels are a vivacious blend of colours, creativity and fashion available at all Lilliput stores. The collection size ranges for the kids falling between the age group of 0 to12 years.

Offering a complete wardrobe, the little ones can choose the best styles of the season with exciting options in with sundresses, skirts, tops, trousers, shorts, bermudas, classic tees, shirts & jeans teamed with matching accessories like stylish fine flowery head bands, hair gear and baseball caps. The fabric used is twills, canvas, millmade, yarn dyed, supercombed knits, laces, peached cottons, nets and cambric. The emphasis has been on maintaining a soft hand feel which is apt for this sultry season.

Lilliput has done wonders with its fusion wear, the indo-western treat which is an amalgamation of the rustic with the west. The silhouettes are fresh and contemporary, as is evident from one shoulder dresses/tops, spaghetti straps, ginghams, vibrant stripes, chic checks, neon prints, neon sequin work, bright prints and soft colors.

So what are you waiting for, let your little boy and girl flaunt the stylish Lilliput Spring-Summer Collection this season. The average price of the collection is Rs.500/-.

Spring Summer 2010 are: For Infant Boys - Cars, Bear and Friends, Circus, Words and Train ; For Infant Girls - Buttons, Butterfly, Floral, Peachy Lemon, Lavender Princess, Pink Princess and Indigo Lemon ; For Toddler Boys - Surfing and Monster ; For Toddler Girls - Maverick, Sunshine, Glitter n Glam, Turqmania, Rainbow Spectrum ; For Junior Boys - Aviation, Mix n Match and Dino ; For Junior Girls - Blazing Star, Urban Fantasy, Alluring Gold, Psychedelics, Butterflies, Paisley Charm, Magenta Magi, Fusion Wear and Premium Glitterati.

The the company has its presence in Kingdom of Bahrain, Cairo, Egypt, Riyadh, Saudi Arabia, Quwait, Abu-Dhabi, UAE, Shanghai, China and Odesa and Moldova, Ukraine, Sultanate of Oman, Yemen and Nepal and a turnover of Rs 415 crore in FY 09-10.
It has a workforce of over 7500 people in more than 153 cities throughout India . In Exports, it t has been exporting to the most reputed kidswear brands in the US and Europe. (editor@thesynergyonline.com)

KAITRINA KAIF LAUNCHES NAKSHATRA VIVAAH - EXCLUSIVE BRIDAL LINE

Thesynergyonline Fashion Bureau

Isha Sawhney,Gianti Brand Manager and Kaitrina Kaif launch the Nakshatra Vivaah -an exclusive wedding line from diamond jewellery brand.

NEW DELHI, APRIL 09 :
KAITRINA Kaif, noted Bollywood superstar, bedecked in bridal glory, launched the much awaited Nakshatra Vivaah - an exclusive wedding line from India's leading diamond jewellery brand nominated as a Superbrand last year.


The pomp and wedding extravaganza marked the ceremony . She was accompanied by Mehul Choksi, CMD Gitanjali Group. The occasion also saw the announcement of the launch of new advertising campaign that emphasizes upon the brand's deeper association with divine luck.

The new collection and campaign is inspired by the ancient Indian texts which described a diamond as vajra (lightning, the weapon of Indra) that was believed to offer protection from fire, poison and evil spirits. It also draws from the mythology of the "Saptharishi Mandalam" Nakshatra and how the wearer of the traditional seven stone diamond floral formation, based on the sacred geometry of this constellation, invokes the divine luck that comes from them. Nakshatra also stands so much for celestial splendour, purity, power and beauty and feminine mystique. And with this inherent celestial derivation, the collection assumes a charm that one can only term as divine luck.

"Today's Indian bride wants to be modern and traditional at the same time. We have created the new Vivaah collection from Nakshatra to suit her needs. Each piece has a unique contemporary look, but is also based on the seven stone floral cluster which is considered in Indian mythology to be a symbol of Divine Luck," said Mr Choksi.

Katrina Kaif says, "Diamonds are a unique gemstone, and have a very special place in the hearts of most Indian women. And the much loved floral pattern that inspires the designs in this collection adds both beauty and good luck. I believe that every Indian bride would really love to have jewellery set like this for her special day." (editor@thesynergyonline.com)

LILLIPUT KIDSWEAR SHOWCASES SPRING- SUMMER COLLECTION AT KIDS' FASHION SHOW

Thesynergyonline Fashion Bureau

NEW DELHI, MARCH 28 :
LILLIPUT , a dominant player in the Indian Kidswear industry, showcased their 'Spring–Summer Collection ‘10' at the 'Kids’ Fashion Show,' held at 'Roots to Wings’' Annual Day Function. Kids were delighted to walk the ramp in smart Lilliput Collection which made them look stylish and fashionable.

The Spring-Summer Collection flaunts the liveliness of Spring and the warm kiss of summer. No wonder, the audience was enthralled to see such little wonders walk the ramp with full enthusiasm and passion.

Lilliput Fashion Show witnessed 10 little champs displaying the fabulous collection ranging from ‘cool boy style’ for boys to ‘dressed up doll style’ for girls. The ramp walk of a charming little girl in ‘Glitter n
Glam’ outfit can give any adult model a run for their money. A delightful and enthused little boy in colourful ‘Surfing and Monster’ outfit accompanied by an attractive girl in ‘Rainbow Spectrum’ dress made a perfect little pair of the show.

The charm of the young models was enhanced by matching accessories like stylish fine flowery head band and baseball cap. The Spring-Summer collection is fresh and contemporary using fabrics like peached cottons suitable for the sultry weather.

Elated Ms. Seema Puri, VP – Design, Lilliput Kidswear commented, “This Fashion Show provides an excellent platform for us to acquaint the audience with the latest range of our high-quality and designer collection which are available in the market at affordable prices.

Children are influenced easily and on seeing these little models walk the ramp in new Spring-Summer collection, we are sure they would want to wear the range too. It gives us immense pleasure to provide an opportunity to these wonderful kids to showcase their talent.”

The ecstatic little models received a standing ovation from the audience who took everybody with awe by exhibiting the Lilliput collection in the most enthusiastic manner. (editor@thesynergyonline.com)

LILLIPUT SHOWCASES SPRING- SUMMER COLLECTION AT KIDS' FASHION SHOW

Thesynergyonline Fashion Bureau

NEW DELHI, MASRCH 14 :
LILLIPUT , a major player in the Indian kidswear industry, showcased their Spring–Summer Collection ‘10 at the Kids’ Fashion Show, at Kidzee School’s Annual Day Function.

The kids stole a march over audience as they walked the ramp sporting the fashionable and colourful collection of Lilliput, suitable for this summer season. The Spring-Summer Collection flaunts the exuberance and capriciousness of spring and the warm kiss of summer.
 
Lilliput Fashion Show witnessed 20 little champs displaying the fabulous collection ranging from ‘cool boy style’ for boys to ‘dressed up doll style’ for girls. The ramp walk of a charming little girl in ‘Glitter n Glam’ outfit can give any adult model a run for their money.

A delightful little boy in colourful ‘Surfing & Monster’ outfit accompanied by an attractive girl in ‘Rainbow Spectrum’ dress made a perfect little pair of the show. The charm of the young models was enhanced by matching accessories like stylish fine flowery head band and baseball cap. The Spring-Summer collection is fresh and contemporary using fabrics like peached cottons suitable for the sultry weather.
 
Elated Ms. Seema Puri, VP – Design, Lilliput Kidswear commented, “This fashion show provides an excellent platform for us to acquaint the audience with the latest range of our high-quality and designer collection which are available in the market at affordable prices. Children are influenced easily and on seeing these little models walk the ramp in new Spring-Summer collection, we are sure they would want to wear the range too. It gives us immense pleasure to provide an opportunity to these wonderful kids to showcase their talent.”
 
The ecstatic little models received a standing ovation from the audience who took everybody with awe by exhibiting the Lilliput collection in the most enthusiastic manner.  (editor@thesynergyonline.com)


 

FOREIGN BUYERS KEEN ON FASHION JEWELLERY , ECO-FRIENDLY PRODUCTS

Thesynergyonline Fashion Bureau

NEW DELHI, FEB 23 :
MORE than 3250 foreign buyers from world-famous buying houses and retail chains have registered at 29th edition of Asia’s largest Indian Handicrafts and Gifts Fair (IHGF)-Spring 2010 in the first three days to source their requirements from a wide basket of eco-friendly lifestyle and fashion jewellery items.


Indian handicraft exporters as well as country’s artisan fraternity and Shilp Gurus are using every measure for taking their creativity a step further in the process to woo buyers from all parts of the world.

Going green and adopting more eco-friendly measures seem to be the latest mantra at the ongoing four-day “IHGF-Spring 2010” organized by Export Promotion Council for Handicrafts (EPCH) at India Expo Centre at Expressway Greater Noida, in which more than 2150 handicraft producers and exporters, including 900 permanent marts, are displaying best of their innovative goods at the fair.

Buyers from the US, the UK, Japan, Australia, France, Germany, Spain, Denmark, Thailand, Malaysia, UAE, South Africa, Saudi Arabia, Lebanon, Syria, Argentina, Brazil, Columbia, Egypt, Switzerland, Sweden and Israel have so far registered and more buyers from other countries are expected during the course of the fair closing tomorrow.

“Most of the handicraft exporters at the fair are displaying a diverse variety of eco-friendly home accessories and decorative products made of non-toxic chemicals, recycled raw materials, organic bamboo utensils, organic hemp aprons, towels and mitts, organic soy kitchen candles, organic cotton, alternative wood, bamboo and jute, handmade paper products, textiles using vegetable dyes and dry flowers.” Said Mr. R.K. Malhotra, Chairman, EPCH.

“For crafting products, handicraft exporters as well as artisans are adopting use of natural dyes and eco-friendly raw materials for their products to the maximum extent to ensure that less damage is caused to nature. This step has helped us to increase our market share across the globe,” he said.

“As part of our continued process of growth and innovation, EPCH has been holding workshops and training programmes for exporters as well as artisans across the country to abreast them with more and more eco-friendly measures to meet the growing global market demand. This has helped artisans make better living, too,” said Mr. Rakesh Kumar, Executive Director, EPCH.

“The Indian Handicraft Fair dubbed to be Asia’s biggest has mainly focused on eco-friendly products and now famous as One-Stop sourcing platform under one roof spsread over 97,000 sqare meters, offering all kinds of lifestyle, utility and gift items for any occasion. The other products include furniture and furnishings, Christmas and floral decoration, fashion jewelry and accessories, bags and clocks,” said Mr Kumar. (editor@thesynergyonline.com)

STIMULUS WILL BE SUBJECT TO FINANCE MINISTRY ALLOCATION TO COMMERCE & INDUSTRY MINISTRY : SCINDIA

Thesynergyonline Economic Bureau

NEW DELHI, FEB 23 :
THE continuation of stimulus package for exporters in general and that of textiles and handloom in particular will henceforth be subject to budgetary allocations of Finance Ministry for Ministry of Commerce & Industry for fiscal 2010-11 since economy is now in for recovery with industrial production picking up, exports showing acceleration and GDP growth likely to be close to 7.5 per cent, says State Minister for Commerce & Industry, Mr. Jyotiraditya Scindia.

Inaugurating ASSOCHAM-IMC Exhibition-Conference on `Women Entrepreneurs’ here today, Mr. Scindia said that Commerce and Industry Ministry favored that stimulus package for stressed segments of exports should continue until these come out of recessionary modes.

The Commerce and Industry Ministry has already urged the Finance Minister, Mr. Pranab Mukherjee that he should maintain amount of yearly budgetary allocations for Ministry of Commerce and Industry at levels extended in the Budget of 2009-10 to enable the Ministry to extend relief measures for stressed sectors in next fiscal.

“It depends on the Finance Minister if allocations are good enough, the Ministry of Commerce and Industry will continue to extend fiscal relief to concerned stake holders in textile, handloom and exporters in areas that fall under domain of the Ministry.  Such incentives would be in addition to fiscal and excise benefits that the Finance Ministry allocates for industry in general for next fiscal”, stated Mr. Scindia.

The Minister also promised slew of measures in the forthcoming Foreign Trade Policy to be unveiled by Commerce and Industry Minister in next few weeks so that weavers and preservers of Indian cottage, small and tiny industries are given sufficient protection.

According to him, the emphasis would be laid in the National Foreign Trade Policy to take markets to weavers and artisans so that their work is sufficiently rewarded and weavers and artisans are prevented from running pillar to post to sell their products.

Mr. Scindia and Dr. Swati Piramal, ASSOCHAM president gave away 10 Women Entrepreneurs’ awards instituted by ASSOCHAM and IMC for promotion of domestic weaving and saree makings.  The Heritage weavers awards were given away to Ms. Sally Holkar, Ms. Jamini Peyany, Ms. Rashmi Prasanth Tapadia, Ms. Pooja maheswari, Ms. Shamlu Dudeya, Ms. Ahalya S. Sarangi, Ms. Sunita Burad, Ms. Sulochna Salvi and Ms. Afroz Jahan.

Among well known women entrepreneurs present on the occasion comprised Ms. Pratibha Advani,  Ms. Pia Singh, Princess Diya Kumari, Ms. Anuradha Prasad, Ms. Kavita Bhartia, Ms. Latika Dikshit, Ms. Manik Karanjawala, Ms. Sangeeta Bijlani, Ms. Sara Pilot,  Ms. Shweta Nanda, Ms. Supriya Sule, Mrs. Sheila Kriplani, President, IMC Ladies Wing, Ms. Sheetal Ansal and Ms. Rashmi Jolly. (editor@thesynergyonline.com)
 

FASTRACK OPENS TWO EXCLUSIVE STORES IN CAPITAL , PLANS 50 IN INDIA BY APRIL

Thesynergyonline Corporate Bureau

NEW DELHI, FEB 19 :
FASTRACK as a brand has expanded its portfolio to now include not only watches and sunglasses but also bags, belts, wallets and wristbands! After the launch of 14 Fastrack stores across 9 cities Fastrack has opened the doors of its first 2 exclusive Fastrack Stores in New Delhi at Kamala Nagar and Satyaniketan today. Both the stores are located in youth hubs of Delhi and make perfect youth fashion destinations.

Infiltrating the lives of Indian youth with in-house designed products that are refreshingly different and affordable; Fastrack has quickly notched up the title of being the fastest growing youth fashion brand in India.
Addressing the media, Mr. Harish Bhat, COO, Titan Industries said, “Fastrack as a youth fashion brand always aspires to be creative and innovative. The brand caters to every need of today’s youth under one roof. Since the launch of its first store in Pune last year, today we have 16 exclusive stores across the country and we are happy that Fastrack has become an iconic youth brand, perhaps the first Indian one!”

With an average store size of approximately 500 sq. ft, all the Fastrack stores across Pune, Vizag, Chennai, Bangalore, Bhubaneswar, Thane, Nasik, Hyderabad and Bhopal have received tremendous response from its young consumers. The company owned Fastrack store at FC Road Pune, has recorded a turnover of approximately 2 crores within one year of its launch!

The brand after the launch of its first ever exclusive Fastrack Store in Pune plans to open around 50 stores in India by April 2010. Staying true to the brands' focus of being where its consumers are, the new Fastrack stores are be located in and around popular youth hang outs. All the Fastrack products are attractively priced between Rs. 195 up to Rs. 3795. (editor@thesynergyonline.com)

WESTSIDE WINS 'THE MOST ADMIRED PRIVATE LABEL FASHION RETAILER OF THE YEAR' AWARD

Thesynergyonline Fashion Bureau

NEW DELHI, FEB 09 :
WESTSIDE was awarded the 'The Most Admired Private Label Fashion Retailer of the Year’ at the Images Fashion Awards 2010, the feted fashion event of the year organized by the IMAGES Group.

The awards ceremony was the culminating event of the India Fashion Forum 2010 (IFF) held on January 29, 2010 at The Renaissance, Powai.

Westside has 90 per cent of its merchandise as private label brands and witnessed a growth of nearly 28 per cent in the retail space last year, despite the downturn.

On receiving the awards, Ms. Smeeta Neogi, Head- Marketing, Westside said, “We are extremely happy and delighted to receive this appreciation as it re-affirms our belief towards the importance of customer engagement at every stage of merchandise development. This award serves as a great boost to our endeavor in understanding our customer requirements and delivering the best in fashion from India and international markets.”   

The Images Retail Awards followed strict international benchmarks in deciding the top honors with IRIS Retail Intelligence as Knowledge Partner and global consulting firm AT Kearney as the Process Approver.

The selection process involved self-nominations as well as a countrywide poll to short-list the nominees. (npsinha@thesynergyonline.com)


INDIAN FASHION INDUSTRY FALLING FAR OFF ITS PRE- CRISIS GRO
WTH RATE

Thesynergyonline Fashion Bureau

NEW DELHI, AUG 19 :
NOTWITHSTANDING its improved global profile led by a boom during the pre-crisis period, Indian fashion industry has been hampered by the global economic recession as reflected by stark differences in the growth rates of pre-crisis and the current period, according to the Associated Chambers of Commerce and Industry of India (ASSOCHAM).

The ASSOCHAM Financial Pulse (AFP) Study on "Impact of recession on Indian fashion industry" analyzed that top companies catering to the fashion industry have faced huge losses as the demand of luxury readymade apparels, leather and gems & jewellery fell down drastically which impaired the sector's profitability.

Forming the major part of the fashion industry, growth rates in the net profit of companies in readymade apparel, gems & jewellery and leather products declined by 151.7 per cent, 81.8 per cent and 445.7 per cent respectively in FY 2008-09 as against ostensible growth rates of 38.2 per cent, 7.4 per cent and 87.6 per cent respectively during the pre-crisis period (2005-08).

"Even though the Indian economy is growing at a robust pace, the per-capita income of the consumers is still too low to significantly boost the purchasing power for the high-end fashion industry during the economic downturn" said Mr. Sajjan Jindal, President, ASSOCHAM.


The AFP Study carried by Assocham Research Bureau is based on the corporate results of the companies from FY 2005-06 to FY 2008-09. The analysis includes the companies which are engaged in manufacturing of readymade apparels, gems & jewellery and leather based products.

The Chamber chief said, high operating cost borne by the textile sector is the major factor responsible for the shrinkage in the net earnings of the readymade apparel companies. The CAGR of net profit in the sector, which was 18.3 per cent during the pre-crisis period (2005-08), declined by 9 per cent in last fiscal 2008-09.

The slowdown in the economy and the major fall in the exports figure in last fiscal 2008-09 are attributable for this negative dip in the net profits of the readymade apparels sector.

Severely hit by the economic slowdown, Gems and Jewellery is another sector which dragged the fashion industry in deep trouble. The sector faced a decline of whopping 81.80 per cent in the net profit during 2008-09 as against a positive growth rate of 7 per cent during the pre-crisis period. External demand for the sector dried up due to the global recession.

The AFP Study also analyzed that leather products which include finished leather, leather footwear, leather garments & clothing, bags & handbags and other accessories & products faced the grip of slowdown and the demand of these products came down drastically. Also, India's leather exports posted an almost flat growth rate in 2008-09 owing to slump in demand in major overseas markets.

The companies engaged in leather sector faced a huge dip in profitability in 2008-09 as the net profit declined by a staggering 445.70 per cent. In stark contrast, the sector showed a high positive growth in net profit in terms of CAGR of 87.60 per cent during the pre-crisis period.(npsinha@thesynergyonline.com)

 

 

+Communications
+Notifications

+Clarifications

+
RBI credit policy review Q3 FY 2010

+Sports
+Archive

+Jobs of the week
+Tete-a- tete
+ Guest column
+The insider

+Exim Policy 2002--07
+ Special Offer
+FEMA
+Query service
+drawback rules+rates
+Income Tax news
+Customs news
+provident fund
+service tax

+Workshops
+Health
+Courier Corner

+Provident Forms
+Year-ender-stories

+PF rules

 

Best viewed at 800 x 600 resolution with IE 4.0 or higher
© Copyright 2010 : TheSynergyOnline.Com
Head Office : Thesynergyonline.com , Synergy House , 569/3, Chattarpur Hills , New Delhi-110074 (India) Tel : 09810878945 , 91 011 32440558 ; e--mail: editor@thesynergyonline.com , marketing @thesynergyonline.com , npsinha@thesynergyonline.com , npsinha2000@thesynergyonline.com ; npsinha2010@gmail.com