The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Bata India saw a 77.6 percent year-on-year decline in consolidated net profit to 26.4 crore rupees (around $3.6 million) for the quarter ended December 2020, The Economic Times reported.
Revenues stood at 615.6 crore rupees ($84.5 million) for the quarter under consideration, down 25.9 percent year-on-year. While the brand’s fashion and formal (such as school wear) categories continue to lag in the wake of Covid-19, its casual, fitness and essentials categories have seen sales recover. Overall volume has reached 88 percent of Bata’s pre-Covid performance, it told ET.
Local streetwear brands, festivals and stores selling major global labels remain relatively small but the country’s community of hypebeasts and sneakerheads is growing fast.
This week’s round-up of global markets fashion business news also features Senegalese investors, an Indian menswear giant and workers’ rights in Myanmar.
Though e-commerce reshaped retailing in the US and Europe even before the pandemic, a confluence of economic, financial and logistical circumstances kept the South American nation insulated from the trend until later.
This week’s round-up of global markets fashion business news also features Korean shopping app Ably, Kenya’s second-hand clothing trade and the EU’s bid to curb forced labour in Chinese cotton.