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Simon Property Group is suing Gap as the fashion retailer failed to pay more than US$ 65.9 million in rent and other charges due during the coronavirus pandemic.
In late April, Gap stopped paying rent on its temporarily shuttered stores, amounting to about US$ 115 million in monthly expenses in North America.
Simon malls have 412 Gap stores, including Banana Republic and Old Navy. This makes Gap Simon’s biggest in-line tenant at its malls in terms of rent.
It said then “that strong legal grounds exist to support our claim that we are not obligated to pay rent for the stores that have been closed.”
Simon began reopening malls last month as states started easing restrictions on businesses in an effort to kickstart economic growth.
David Simon, Chief Executive Officer,Simon has made it clear he expects rent to be paid, despite any temporary store closures.
“The bottom line is, we do have a contract and we do expect to get paid,” he told analysts during a May 11 earnings conference call.
“With ever-increasing warehouses and distribution centres, there has been a spike in demand for skilled workers. For example, in the US, it is estimated that warehouses and distribution centres will need more than 5 lakh workers by 2020. But in a country which is already labour strapped and with not enough skilled workers, robots are proving to be a better alternative to fill the gap. Delivery services, food retailers etc. are all experimenting with robots, drones and self-driving cars in order to reduce on their delivery time as well as high costs,” he adds.
To build credibility, the brand has added a unique tracer in the fabric thus ensuring source credibility. Tracer is a method of identifying the journey of the fi nal garment and its origin from fibre stage. This is a globally accepted method and gives visibility of source.9BLABELB Label is driven by the potential that sustainable fashion holds for a greener future. As a brand, it strives to be sustainable at their core and to support this it works with one of the world’s most durable and eco-friendly natural fibres – Industrial Hemp.
Globalisation coupled with fast fashion has resulted in awareness on fashion trends and styling. Further, the increase in number of working women has fuelled the women’s western wear market. The women’s wear market is currently growing at 10 percent CAGR in India, where women’s western wear is growing at 17 percent CAGR.
“As the product-market fit has been a roaring success for us and the feedback and customer response/retention has been epic. The focus now is primarily to meet demand and ensure growth on all channels of distribution. We are currently expanding both in the online and the offline space with equal vigour and as we evolved our focus was reaching out to the customers through an Omnichannel strategy and be present at every customer touchpoint. The fun for a brand is to understand the audience and nuances of each channel and ensure a true Omni-experience for the customers and the sellers,” says Neha Kant, Co-Founder and CRO, Clovia.
Pertaining to wedding outfits – which is the most important part of any Indian wedding – and with the discerning male consumer getting more demanding. Wedding outfits are designed using high-quality fabric and efficient design methodologies. In the case of a destination wedding, where everything is planned according to the set theme, the wedding outfits need to do come together with the theme.
“The consumer’s constant need for new and stylish designer jewellery has given a great boost to the market. Earlier people mostly preferred gold jewellery in India, but since there is great variety to choose from and keeping in mind the constantly evolving jewellery space in the country, consumers have started opting for fashion jewellery over fine jewellery,” Bindra explains.
Online-to-offline commerce is a business strategy that draws potential customers from online channels to make purchases in physical stores. It is a combination of payment model and foot traffic generator for merchants (as well as a “discovery” mechanism for consumers) that creates offline purchases.
Biggest Regret of Your Professional Career – Well I wouldn’t say regrets but I believe there is always scope for improvement. Even after successful completion of a task/activity/project, I always look back and see how we could have possibly done it better. This helps to plan better for future.
Muji, for its 360 degree approach. The seamlessness of the brand comes from their scientific and design approach towards everything. From creation to operations and retail. They think about their consumer experience in detail and deliver.7Sachi Maker, Vice-President, TraworldBest Decision of Your Professional Career – It is extremely essential for everyone to work and understand the ground level issues. I embraced that myself, to ensure that I was geared up for success, the right way. My first job was of a housekeeping assistant, which made me learn how to make beds, clean washrooms and provide top notch hospitality at the most basic level. This ‘basic’ and bottom level experience taught me a lot of things, and it definitely strengthened my relationship with peers, built my ground level communication and trained me to be an efficient leader. What you learn on that level, is what essentially makes you stronger when you reach great heights.
“The same garment a human will cut manually in 30-45 minutes, a machine will do in a matter of 2-3 minutes. If we talk about garment construction, manually a tailor takes 3-5 hours to stitch a basic shirt, wherein an automated machine will complete the task in a matter of 30 minutes at the most. This automation and digitalisation will increase supply chain productivity and greatly improve the fashion industry’s sustainability performance,” explains Samiksha Bajaj, Co-founder, Samshék.
Reinforcing the emerging trend Vikas Pacheriwal, Co-Founder, Raisin affirms, “The consumption pattern of fusion wear sees a tremendous demand throughout the year as women are incorporating Indo-Western wear in their everyday wardrobes. The fashion trend blends the sensibilities of Indian and Western styles that off er women a huge variety to choose from. Fusion wear also has the perk of looking good while being supremely comfortable.”
The influence of Bollywood, especially the new generation of actresses and micro influencers makes a great case for ethnic wear in as far as younger consumers are concerned. For example, actresses wearing ethnic makes an impact on the younger crop of women consumers, who begin to see ethnic wear as cool and fashionable.