Provogue news and archive

Provogue shut more than 60 stores last year

Apparel retailer Provogue has shut more than 60 stores last year and is even delaying the salaries of its employees. In last one year the company has rationalised store count and has only three stores operational in Mumbai, and around 40 in other parts of the country. Even the promoters are facing trouble as lenders are thinking of invoking...

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Business

SDR to be invoked against Provogue

Apparel retailer Provogue (India) has been informed by bankers of their plan to invoke powers under strategic debt restructuring (SDR). Provogue had an outstanding debt of Rs 9,595.22 crore as of September. That quarter it reported a net loss of Rs 49.87 crores on net sales of Rs 131.71 crores. Under SDR, banks have the power to convert a part...

Apparel

Fund-crunch leads retailers to demand higher FPI cap

Leading listed retailers are seeking an increase in foreign portfolioinvestors’ (FPIs) cap from the current 24 percent to ease their funding requirements. Sources say that the Union government is contemplating whether to allow FPIs to hold even majority stake in Indian retail companies. Kishore Biyani-led Future Group had already written to the...

Apparel

Retailers pin hope on elections & IPL season

With low consumer sentiment continuing to have a negative impact on apparel retailers and brands, the industry looking for revival with elections and IPL season in the April-June quarter. They are hoping to cash in on these two events to revive sales. The industry has been reeling under pressure with low consumer buying, rising realty costs,...

Apparel

Provogue Q2 net profit up 1.17 per cent

Apparel firm Provogue has reported 1.17 percent increase in its net profit at Rs 6.03 crore for the second quarter ended September 30, 2013. The company had reported a net profit of Rs 5.96 crore in the same period a year ago. Provogue's net sales during the quarter under review stood at Rs 153.24 crores, up 5.05 percent as against Rs 145.86...

Apparel

Provogue unveils e-commerce portal

A leading fashion brand of India, Provogue, has now logged on to the e-commerce bandwagon with the launch of its own portal. The new webstore will be selling all its merchandise including clothes, watches, sunglasses and other accessories for both men and women. Provogue is aimed at consumers in their late 20s. Many Indian apparel brands, are...

Apparel

Provogue, Rajasthan Royals team up for IPL

Cricket team Rajasthan Royals has signed up apparel brand Provogue as the team’s 'Official Fan Wear Partner’, for the sixth season of the Indian Premier League (IPL). Bringing in the 2013 season in its signature royal style, Rajasthan Royals and Provogue organised a unique fashion extravaganza to mark the association. Collaborating with the...

Apparel

Provogue’s revamped avatar grabs eyeballs

Apparel retail chain Provogue’s latest print ad truly conveys the changed strategy it has adopted recently. The tag line reads, “You’ve changed. We’ve changed”. The change is evident through use of models and not Bollywood stars to promote its new collection, and changing look and feel of its stores by changing the colour from ‘white and red’ to...

Apparel

Provogue forms partnership with Super Fight League

Apparel firm Provogue has floated an equal joint venture with Raj Kundra’s Super Fight League to be called Pro SFL that will sell the merchandise of mixed martial arts events. SFL (Super Fight League) specialises in mixed martial art and is promoted by Kundra and actor Sanjay Dutt. The special purpose vehicle has rolled out deodorants as its...

Trends

Provogue partners Zee TV

Provogue has joined hands with leading Hindi entertainment channel Zee TV’s Hero ‘Sa Re Ga Ma Pa 2012’ to dress up the participants. Provogue is the official wardrobe partner to the musical talent hunt show. The newly launched collection imbibes style and comfort into designs inspired by music. Provogue launched its ‘Sa Re Ga Ma Pa Line,’...

Fashion

Q2 Results: Indian industry sentiments low as profits dip

Hit by high input costs, increased excise duty on branded garments and low consumer buying even during the festive season, many textile companies and apparel brand retailers reported a decline in net profits for the second quarter ended September 30, 2011. While denim players like Arvind, K G Denim and Nandan Exim and a few others like Sudar...

Apparel

Provogue India’s Q2 profit down to Rs 8.91 cr

Provogue has reported net income from operations of Rs 158.78 crores for the quarter ended September 30, 2011 as against Rs 139.12 crores for the quarter ended September 30, 2010. The net profit was at Rs 8.91 crore as against Rs 9.71 crore for the quarter ended September 30, 2010. The company has reported earnings per share of Rs 0.78 for the...