The second wave of covid-19 and subsequent restrictions imposed by several states have hurt India’s retailers of apparel, footwear, personal care goods, electronics, and quick-service restaurants with most reporting a significant decline in sales in April 2021 compared with April 2019.
The COVID-19 pandemic has affected the global footwear market. However, the Asia-Pacific (APAC) region accounted for 32.9% of the global footwear market in 2019 and is forecast to contribute nearly 40% of sales in 2024, backed by strong growth markets like India, the Philippines and China, says GlobalData, a leading data and analytics company.
To help the people of India in combatting the recent sudden surge of COVID-19 cases, Fast Retailing Co., Ltd., parent company of global apparel retailer UNIQLO, announces today that it is providing urgent support worth approximately 220 million rupees (around U.S. $3 million) for those affected by this crisis.
Tennis superstar Naomi Osaka unveils her second Nike apparel capsule. The new collection features an assortment of T-shirts, shirts, hoodies, a crop top, and a mesh bodysuit which Osaka herself had a hand in designing.
Sustainable brand Rothy’s has added a new category to its shoe lineup: men’s. For the first time, the brand is offering men’s styles in two new silhouettes, The RS01 Sneaker and The Driving Loafer.
World’s largest fantasy sports platform Dream11 has entered into a partnership with the global sports brand, PUMA to launch its first athleisure collection in India. The two sporting powerhouses have co-created an exclusive range under the label, PUMAxDream11.
As Italy continues its post-pandemic recovery, Micam has announced that it will be back in action in Milan this fall.
Delhi-based fashion house, High Street Essentials (HSE), the parent company behind women’s fashion brands, FabAlley and Indya, has raised Rs 25.50 Cr in a round of funding led by its existing investors Elevation Capital, India Quotient, Dominor Holding and family offices.
According to a new report published by Allied Market Research, titled, “Footwear Market by Type, Material, End User and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2020 – 2027,” the global footwear market size was valued at $365.5 billion in 2020, and is projected to reach $530.3 billion by 2027, registering a CAGR of 5.5% from 2020 to 2027.
India’s export of leather and leather products declined about 28.3% to $3.3 billion in 2020-21 from $4.6 billion in 2019-2020 owing to the COVID-19 impact on key markets of the European Union, the U.K. and the U.S., according to the Council for Leather Exports.
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