RELIANCE CO. PICKS UP 60% IN ANAMIKA KHANNA LABEL Reliance Brands Limited (RBL) and Indian fashion designer Anamika Khanna announced on Monday that they have tied up to form a 60:40 Joint Venture for owning and developing the fashion brand AK-OK. RBL, in an official statement, has stated that the JV will set up the […]
RELIANCE CO. PICKS UP 60% IN ANAMIKA KHANNA LABEL
Reliance Brands Limited (RBL) and Indian fashion designer Anamika Khanna announced on Monday that they have tied up to form a 60:40 Joint Venture for owning and developing the fashion brand AK-OK. RBL, in an official statement, has stated that the JV will set up the foundation for a new outlook in Indian fashion. Khanna will continue to lead the creative direction of the brand. Speaking on the partnership, Isha Ambani, Director, Reliance Retail Ventures Ltd said, “The partnership with Anamika Khanna pivots around our recognition of homegrown talent’s growing popularity and appeal, both in India and globally. Known for her eponymous label, Khanna is well recognised for encapsulating India’s rich craft in global contours. We are excited to partner with Anamika’s AK-OK brand journey right from its early days and present a unique design philosophy to Indian and global consumers.” Khanna believes that the partnership with RBL will push the brand towards being a recognisable new-age brand worldwide.
PANTONE ANNOUNCES ‘VERY PERI’ AS COLOUR OF 2022
Pantone has revealed its colour of the year for 2022 to be Pantone 17-3938 Very Peri, a new shade of periwinkle blue with a violet red undertone. Executive director of the Pantone Colour Institute, Leatrice Eiseman, said in a release, “As we move into a world of unprecedented change, the selection of Pantone 17-3938 Very Peri brings a novel perspective and vision of the trusted and beloved blue colour family. Encompassing the qualities of the blues, yet, at the same time, possessing a violet-red undertone, Pantone 17-3938 Very Peri displays a spritely, joyous attitude and dynamic presence that encourage courageous creativity and imaginative expression.” The year 2022 marks the first time a Pantone Color of the Year has been custom created. Considered as the happiest and warmest of all blue tones, the new shade radiates a presence that inspires creativity as the world welcomes a transformative chapter.
CHANEL NAMES LEENA NAIR AS NEW GLOBAL CEO
Chanel has appointed a new CEO to head its iconic luxury house. Leena Nair will replace the company’s co-owner, Alain Wertheimer, who will take up the role of global executive chairman. Nair, a British national born in India, has spent 30 years at Unilever in various roles, most recently as chief of human resources. She comes from the world of fast-moving consumer goods (FMCG), a world far away from the luxury craft of hand-quilted handbags retailing thousands of euros. The French brand’s beauty business can benefit from FMCG supply chain practices and volume increases to reach new markets. The timing of Nair’s appointment coincides with Chanel facing critical corporate responsibility issues like the traceability of its supply chain to prevent environmental and labour abuses, reported the Business of Fashion (BoF). French billionaire Wertheimer, who owns the label with his brother Gerard Wertheimer, had originally taken on the CEO job on a temporary basis, and will be moving to the role of global executive chairman.
EUROPEAN FASHION BRAND NA-KD DEBUTS IN INDIA ON NYKAA
Nykaa Fashion, the multi-brand lifestyle e-commerce platform, has strengthened its international brand portfolio with the launch of European fashion brand Na-Kd in the Indian market. From dresses, jumpsuits, tailored coats, jackets, loungewear, to shoes, the brand will offer this range on the platform. Commenting on the launch, Adwaita Nayar, CEO of Nykaa Fashion in a statement said, “Nykaa Fashion continues to grow and establish itself as a lifestyle destination that inspires customers to make elevated style choices. We have a keen focus on curating the best brands from international markets, and extending our fashion assortment with key players like Na-Kd is exciting.” Na-Kd will be exclusively sold in India on Nykaa Fashion app, website, and the Nykaa fashion store at Ambience Mall, Vasant Kunj.
ADITYA BIRLA FASHION TO BUY EXCLUSIVE RIGHTS TO SELL, DISTRIBUTE REEBOK IN INDIA
Aditya Birla Fashion and Retail (ABFRL) is set to take over Reebok’s operations in India and other ASEAN countries. Authentic Brands Group (ABG) has announced a strategic partnership with Aditya Birla Fashion and Retail Limited, granting the Indian firm exclusive rights to distribute and sell Reebok products in India. The long-term licensing agreement allows the company to market the sportswear brand through wholesale, e-commerce, and branded retail stores throughout India, Bangladesh, Bhutan, Maldives, Nepal, and Sri Lanka. “As Indians get more active, athletic, and health-focused, their consumption of apparel and accessories is expected to increasingly change in line with these trends, providing an opportunity to build iconic brands of global repute,” commented Ashish Dikshit, managing director ABFRL, in a statement. “Reebok is one of the leading brands in the sporting goods industry globally, and has built a very strong presence in the Indian market over the last two decades.”
GUESS LAUNCHES SECOND STORE IN MUMBAI
Guess is expanding its retail presence with the opening of its second store in Phoenix Palladium, Mumbai. The store will bring to life the young and contemporary vibe of the brand that it is renowned around the world. The brand is known for its iconic range of denim, dresses, apparel, shoes, handbags, accessories, and more. The latest store has been aesthetically designed, blending artisanal designs with a minimalistic touch, providing plenty of space for showcasing the brand’s themed total looks and imagery. The highlight of the brand is the new Athleisure collection — a significant workout wear category for the fashion and fitness loving urban shoppers. Another key category to look out for is a wide range of handbags — from satchels to totes and backpacks to luggage, there is something for everyone at the store.
ASICS OPENS ITS THIRD STORE IN HYDERABAD
Asics has further strengthened its retail footprint in India with the launch of its third store in Hyderabad, and 13 in South India. The new store in Forum Sujana Mall is spread over a total retail space of 1,100 square feet. The store features an Asics Foot ID system, and houses the brand’s entire running and training collection with sports style and performance categories. The latest ID feature measures the foot shape, and analyses the wearer’s running gait. It helps runners find the most suitable shoes to draw out every ounce of their performance, the company said in a media release. Commenting on the launch, Rajat Khurana, managing director, ASICS India and South Asia, said, “Our expansion plans will strategically cater to the demands of our consumer both a performance and personalisation point of view. South India is a key strategic market for ASICS, and we will continue to bring the latest in retail experiences for our consumers to help them select the best products for their individual needs with a heightened focus on fitness and health. In 2022, we plan to add about 17 stores across India. We now have a strong presence in the metros and tier-1 cities, and look forward to strengthening our presence in tier-2 and tier-3 markets as well.”