By MW Desk
ADITYA BIRLA FASHION AND RETAIL SEEKS TO ACQUIRE BEWAKOOF
Aditya Birla Fashion And Retail is set to acquire a controlling stake in apparel and accessories brand Bewakoof for about 100 crores. This acquisition will mark the company’s official launch into the direct-to-consumer segment. “Both companies have signed a non-disclosure agreement and have also finished due diligence. The team at Bewakoof is also moving to join Aditya Birla’s new firm,” a senior executive said, according to an ET report. The company plans for the direct-to-customer segment of the market and created a new entity named Tmrw in June 2022. Tmrw will both acquire and incubate 30 brands over the coming three years, end. Bewakoof would fall under this project. Launched in 2012, Bewakoof specialises in western-style casual wear. The brand reports annual revenue totals of around Rs 250 crore and its business investors include IvyCap Ventures, Spring Marketing Capital, and InvestCorp.
ALESSANDRO MICHELE STEPS DOWN AS GUCCI’S CREATIVE DIRECTOR
Alessandro Michele announced that he is stepping down as Gucci’s creative director after a magnificent eight-year run. The designer has been with Gucci for 20 years and before taking over his role as creative director in 2015, he was in the company’s shoe and accessories department. “There are times when paths part ways because of the different perspectives each one of us may have,” Michele said in a statement released by Kering, the luxury company that owns Gucci. “Today an extraordinary journey ends for me, lasting more than twenty years, within a company to which I have tirelessly dedicated all my love and creative passion.” According to WWD, Michele’s expected departure was due to his failure to meet a request to “initiate a strong design shift”. In its statement, Gucci said that he played “a fundamental part in making the brand what it is today through his ground-breaking creativity.” Michele was responsible for bringing the genderless and maximalist aesthetic to the brand.
VALENTINO OPENS ITS FIRST STORE IN INDIA
Valentino opened its first doors in India at New Delhi’s DLF Emporio on November 18, marking one of the most anticipated fashion launches in India. Located on the ground floor, the boutique spans over 110 sq. meters and impresses with its pristine interiors with touches of gold and marble. The Valentino boutique in India is abundant with various categories from the brand such as ready-to-wear, Valentino Garavani bags, shoes, and accessories for both men and women and you can also shop the iconic Valentino Pink PP collection. Earlier this year, it was announced that the brand will enter India through Reliance Brands Limited. The company had sealed a long-term distribution agreement with the Italian couture brand to bring its presence to India. Through this long-term partnership, Valentino was first to open its first boutique in Delhi, followed by a flagship store in Mumbai. While the Delhi boutique at DLF Emporio carries Valentino’s womenswear and select men’s accessories, the Mumbai’s flagship store will host the entire Valentino universe — a complete range of womenswear, menswear, footwear, and Valentino Garavani accessories of the brand that include shoes, bags, small leather goods, eyewear, scarves, ties, and fragrances. The brand is currently present in over 144 locations through 212 Valentino directly operated boutiques.
TATA CLIQ LUXURY PARTNERS WITH LE MILL TO BRING IN INTERNATIONAL BRAND OFFERINGS
Multi-brand fashion and lifestyle retailer Tata Cliq Luxury has partnered with fashion boutique Le Mill to launch the fashion boutique on its e-commerce platform. This move is designed to expand its international brand offering. Launched on Tata Cliq Luxury, Le Mill offers a selection of apparel, accessories, and footwear. “At Tata Cliq Luxury, we have a very strong portfolio of global brands in our existing fashion category across apparel, accessories, and footwear,” said Tata Cliq Luxury’s business head Gitanjali Saxena in a statement. “As we continue to expand our exciting range of fashion portfolios further, we are delighted to launch Le Mill, a multi-brand luxury house, on the platform. We look forward to offering our customers an assortment of prestigious brands under Le Mill as we strive to enhance their luxury shopping experience on the platform.” Le Mill is the innovation of Cecilia Morelli Parikh and Julie Leymarie, two French women who reside in Mumbai. The boutique is designed to connect India with the European fashion scene. “We are thrilled to launch our multi-brand luxury house, Le Mill, on Tata Cliq Luxury. With this partnership, we are expanding our reach further and increasing our access to consumers across the country. Tata CLiQ Luxury is India’s leading luxury lifestyle platform, and we have a shared vision of offering consumers iconic international brands that are expertly curated along with an elevated online luxury shopping experience. We look forward to a successful partnership,” noted Parikh in the press note.
BALENCIAGA ACCUSED OF PROMOTING CHILD ABUSE IN LATEST CAMPAIGN
Balenciaga has been facing multiple controversies for quite some time — first with Kanye West and now with their latest ad campaign, which featured children holding the brand’s teddy bears in bondage gear. The company is also facing scrutiny for its second ad, for the Spring 2023 campaign, where they used a printout of a Supreme Court decision on child pornography. After receiving backlash, the fashion house posted an apology on Instagram and said its bear bags “should not have been featured with children”. It said it was no longer selling the items and had deleted the images from all web platforms. Another statement reads “We strongly condemn child abuse; it was never our intent to include it in our narrative. The two separate ad campaigns in question reflect a series of grievous errors for which Balenciaga takes responsibility. The first campaign, the gift collection campaign, featured children with plush bear bags dressed in what some have labelled BDSM-inspired outfits. Our plush bear bags and the gift collection should not have been featured with children. This was a wrong choice by Balenciaga, combined with our failure in assessing and validating images. The responsibility for this lies with Balenciaga alone.”
Reproduced with permission from Mansworldindia.com