Latest Fashion & Beauty News Of The Week!

Looking out for the latest fashion news?

We’ve got you covered, here is all the latest fashion news you need to update yourself with. In this time of the pandemic, the world is shaken, and the only constant thought running through our mind is “If we could, we would change the way the world reacted towards COVID-19 initially”. But now that all of us are in the same boat, we need to stand united and strong, the fashion industry in this time of emergency is here to spread positivity, and smiles by their small acts of kindness. 

There is no second thought in saying that due to the lockdown in several countries, the fashion industry has faced plenty of disadvantages this year. Looking at the widespread outbreak of COVID-19, the fashion world has already cancelled the June men’s fashion weeks in London, Milan, and Paris, July Haute couture shows were also cancelled, due to the travel bans and social distancing rules initiated by the government. India’s Lotus makeup India Fashion Week was also cancelled by the FDCI to stand with the government apart from that Fashion weeks in China, Japan, South Korea, Brazil, and Russia has also been called off. 

But the fashion industry has still managed to provide beauty, solace, and entertainment for its audience in this time of isolation and stress. You can make the most out of this lockdown by enhancing your knowledge about the fashion industry and fashion news happening around the world. 

The pandemic has changed the dynamics of the fashion industry, and the industry is all set to enforce a new identity of the fashion world once all this is gone. Read on to further know how the e-commerce shopping website are preparing themselves for the post-crisis period, and how the fashion designers are playing their part aptly in this period of emergency. From the sustainable fashion to imposing the “Act of God”, the week has got a lot for you to read on. 

RELIANCE RETAIL INVOKES “ACT OF GOD” DUE TO COVID-19 

According to the latest fashion news, one of India’s top retailers, Reliance Retail, invoked to not pay the rent for some time due to the widespread outbreak of coronavirus. 

The Reliance retail is highly appreciated as the country’s largest fashion destination, which has the widest distribution network for mobility and communication devices. It is major to the consumer-facing businesses and is the retail initiative of the Reliance group. 

The Reliance retail in the last few years has successfully emerged as the partner of International fashion brands such as Thomas Pink, Grand Vision, Marks & Spencer, Diesel, Hamleys, Paul & Shark, Superdry, Kenneth Cole, Brooks Brothers, Steve Madden, Payless, Ermenegildo Zegna, Shoesource, and many more. 

According to speculated data, the company for the year 2018-19 stated a turnover of INR 1,30,566. The fashion news states that Reliance Retail as on September 2019, had 10,901 stores across 6,700+ cities.

Due to the outbreak of COVID-19 in India, the malls all across the country have been shut after the government declared a lockdown for 21 days. And the latest fashion news states that it has been around 2 weeks, since the retail mall’s shops are shut, in some of the major cyber cities such as Bengaluru, Delhi, Mumbai etc. The central government has called out the situation as “force majeure”, calling it to be beyond humans control. Looking at the current situation Reliance Retail invoked the “Act of God”, to not pay rents, to further knowledge in detail about what exactly is “Act of God” and Reliance’s take on it, click on the link below- https://bit.ly/2RdgYMP

SABYASACHI MUKHERJEE DONATES INR 1.5 CRORE TO COVID-19 RELIEF FUNDS 

Reported by the latest fashion news, the well celebrated Indian fashion designer Sabyasachi Mukherjee, pledged to donate an amount of INR 1 Crore to support the country in fighting against the COVID-19 pandemic. 

The outbreak of coronavirus has brought the fashion world to a standstill, with an everyday increase in the number of cases, the government regulated the lockdown, to further break the chain of spread. 

In this pandemic, the Indian fashion industry and designers united and completed their social responsibility by standing strong with their artisans and retailers. 

After the Indian designer, Anita Dongre, who announced a medical fund if INR 1.5 crore to support her team who do not have medical insurance to prepare for medical emergencies arising from the virus, The 46 years old ace Indian designer Sabyasachi has also joined the list. 

The latest fashion news states that Sabyasachi planned to donate INR 1 Crore of the personal funds to the PMNRF that is Prime Minister’s National Relief Fund. The PMNRF accepts voluntary contributions from people across the world, and it’s good to see how the designer has taken an initiative for the country in this difficult situation.

To further know in detail about his announcement and views on the outbreak, click on the link and read on the news by I Knock Fashion-https://bit.ly/2V1WszU

NYKAA RETRIEVES INR 100 CRORE FUNDING FROM STEADVIEW CAPITAL 

The skin care, hair care, and cosmetics retailer, Nykaa, because of the outbreak of COVID-19, has come around the time where the brand has almost ground to a halt. 

Nykaa was founded in 2012 by a former merchant banker, Falguni Nayar. In the past year, the brand Nykaa has earned a huge audience and is also called out as the Sephora of India. It is one of the most celebrated beauty and cosmetics chain which sells numerous products through the Nykaa online shopping website and also the offline retail stores. It has been exploring various segments, such as the men’s grooming, along with launching Nykaa Pro. Nykaa is also looking forward to expanding its offline retail presence. 

The speculated data for the financial year 2019, stated the company’s total revenue to be accounted for INR 1,228.8 Crore. By the end of 31st March, 2019x the post-tax loss of the company accounted for INR 21.08 crore. 

Falguni Nayar, Founder, and CEO of Nykaa states about the infusion, “We deeply value the trust and support of our investors, customers and brand partners who have been instrumental to our success. In the middle of this pandemic COVID-19, we are working to ensure all our stakeholders are well served and that Nykaa emerges as a leading retail player in the industry.”

Too further know in detail about the investment, and how the company is looking forward to the infusion, click on the link- https://bit.ly/2yAFEZe

THE WOOLMARK COMPANY: MARKS NEW STANDARD OF SUSTAINABILITY IN FASHION!

The week ended with one of the biggest news of the fashion world, recent scientific research conducted by The Woolmark Company has found out that Merino Wool could be a solution for global microplastics problem. 

The company is the global authority on wool, they work towards highlighting the concept of sustainability in fashion. They apart from this also maintains an extensive network of relationships spanning the fashion industries and International textiles. The Australian wool’s post is celebrated by the company as the ultimate natural fibre, and also as a major ingredient in luxury apparel. 

The Woolmark Company logo is one of the world’s most recognised, they provide assurance of the ultimate quality and pioneer excellence from the farms until the ultimate product. The subsidiary of Australian wool innovation, the company is a not for profit enterprise which held development, research, and marketing across the global supply chain for Australian wool from behalf of 60,000 wool growers who help with the funds for the company. 

The previous research states that as much as 20 per cent to 30 per cent of all primary source microplastics in the oceans is due to the utilisation of synthetic fabrics. It also states that 1 polyester fleece garment can lead up to more than 1900 microfibres per wash. 

The current research revolves around the biodegradability of 2 types of Merino wool in the marine to the biodegradability of synthetic fabrics like Rayon. 

For further knowledge on the latest research and how it changed the dynamics of sustainable fashion, click on the link below- https://bit.ly/2X8zKJ2

IKF DESK (CONCLUSION) 

COVID-19 has clearly changed the dynamics for the fashion industry, but if we lookout for the positive side this crisis can be an opportunity to slow down and realign everything, it brings the chance to give a more meaningful definition to the fashion world of tomorrow. This break has given us no chance but to sit back and think, for the fashion industry it can be a deep introspection leading to new ways of sustainability in the fashion world. As change is inevitable, for the future of fashion, there will be new collections maybe some inspired by nature and the crisis. 

The crisis depicted how the designers are sensitive and responsible towards their team and the country. It’s good to witness how the Indian designers understand the need of the hour and are uniting together with their teams to fight against this pandemic. 

The fashion world is under anaesthetic, but sooner or later things are going to calm down, and it is clear that once the lockdown is over, there is a high chance of the e-commerce to flourish, brands like Nykaa are preparing themselves to fulfil their consumers need. 

Do you want to know anything more about the fashion and beauty industry? 

If so, do let us know in the comment section, and subscribe to I Knock Fashion to get further news and updates about the fashion and beauty world.