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He requested the state government not to further extend the lockdown which ends on June 30 as traders were unable to serve their clients.

– Planned schedule driven shopping

– Cleaning and disinfecting stores at regular intervals

– What are the changes they foresee in the future, and what are the new models/ formats that need to be embraced for a triumphant revival?

The novel coronavirus pandemic and subsequent restrictions have upended businesses around the world. Stores selling non-essential commodities like fashion were the worst affected and were shuttered for months together. This has led to reset of businesses across industries and luxury is no exception.

In today’s digital age when every company is leveraging on data to identify consumption pattern, Stitch Fix used data to lead the company and that’s all that made the difference.2CaaStleWith rising concerns about textile waste, renting is the new black and consumers are slowly gravitating towards the modern fashion philosophy of renting instead of buying and lending instead of discarding. Catalyzing this shift is a company called CaaStle that wants to build a new economy for apparel. The company helping retailers and clothing brands create their own rental services. A logistic platform, CaaStle integrates with companies’ inventory systems and manages the entire rental process on their behalf, from warehousing and cleaning garments to gathering feedback from customers about how an item fits. The flatform also builds and manages all aspects of the subscription model – the website, databases, algorithms and analytics. If that was enough, CaaStle’s Account Managers, Merchandisers and Marketers chaperone fashion brands along the way with their subscription model expertise and retail industry experience.

Tell us about your lockdown exit strategy.

What micro-services are you working on to support in-store applications?

“This will affect credit metrics.”

The overseas buyers from countries have registered to visit the show  include Australia, Austria, Belgium, Brazil, Canada, Chad, Chile, China, Czech Republic, Denmark, Ecuador, Egypt, Fiji, France, Germany, Greece, Hong Kong, Ireland, Israel, Italy, Japan, Kuwait, Lebanon, Lithuania, Luxembourg, Mauritius, Namibia, Nepal, Netherlands, New Zealand, Norway, Oman, Philippines, Portugal, Puerto Rico, Russian, Saudi Arabia, Serbia and Montenegro, Singapore, South Africa, Spain, Sweden, Switzerland, Taiwan, Thailand, Turkey, Uganda, UAE, UK, USA, Uruguay and many more.

Currently, 1,332 stores have reopened adhering to all COVID-19 related guidelines for employees and customers, it added. Commenting on its liquidity position, Raymond said it is taking all requisite measures to manage liquidity that includes cost reduction, fund management and focus on collections.

We are exploring some startups and the micro-services provided by them for quick and flexible deployments. Some of the solutions in different phases of implementation are:

Revenue from textile segment fell 28.48 percent to Rs 581.90 crore as against Rs 813.71 crore in the corresponding quarter a year ago.

He requested the state government not to further extend the lockdown which ends on June 30 as traders were unable to serve their clients.

– The novel coronavirus outbreak has pushed consumers to shift their shopping habit online owing to safety concerns. In the present times, consumers are more frequently purchasing products online that they would normally buy from physical stores. According to the study by Capgemini, Indian consumers’

How important a role does the technology department play in a retail set up when it comes to boosting customer satisfaction levels?

Despite increasing levels of competition in China, domestic brands such as Li-Ning, Anta and Xtep had a strong 2019 following impressive 2018 performances. Other brands such as Erke, Qiaodan, Kbird and 360˚ are also expected to gain traction over the next five years. Following the success of these brands, various international and local fashion brands are investing in the athleisure market to extract more benefit out of this fast growing trend.

Like every business, BIBA also suffered losses in the global pandemic. Bindra acknowledged that the fashion retail sector has been the worst hit and has suffered maximum losses. He said, “We went through a very challenging phase since the complete lockdown. Business has been impacted hugely since all our stores were closed during lockdown which meant zero sales. Retail is a unique industry where fixed costs are extremely high, and we have a situation where we have had zero revenue since the lockdown.”

On resumption of business, Raymond said gradual reopening began from lockdown 3.0 onwards, wherein the government permitted sale of certain nonessential items in specified geographies.

The flexibility provided by our lease actions allows us to target the closure of 300 additional store locations by the end of fiscal 2021, including 200 closures in fiscal 2020 and 100 closures in fiscal 2021.

Amplify Your Digital Capabilities: Digital is not only becoming the primary sales channel post the pandemic; it can aid brands and retailers manage costs better, bolster efficiency across the value chain better and help respond to consumer requirements way faster and cheaper. E.g., it can open doors to new logistics and sales-fulfillment alternatives like click-and-collect or drive-through and aid brands with creative ways of customer acquisition. And the biggest advantage will be data — that brands and retailers can analyze to gauze the pulse of the market and increase conversion.

– The new models/ formats that are being embraced for a triumphant revival

Lavie Sport products are available on www.lavieworld.com, and authorised offline and online retailers such as Amazon, Myntra, and Flipkart.

Reports from across the world showcase numerous positive stories of brands that have done exceptionally well in reinventing themselves by introducing innovative categories for their customers and keeping them relevantly engaged during stressful times. Luxury brands have also led by example, resetting businesses wherever necessary This has led to reset of businesses across industries and luxury is no exception.

“Both online and offline training is being provided. One-on-one training has been provided to the team to ensure people understand and follow new ways,” says Santosh Srivastava, Marketing Manager, Numero Uno.