The new work-from-home reality has rapidly re-calibrated the fashion code for professional wear. With more work calls and team meetings now taking place from the comfort of home, office wear has become decidedly more relaxed.
According to retailers, consumers are gravitating to a more relaxed work look. People are pairing shorts, yoga pants, or track pants with more professional looking tops for video calls. Sensing the demand for comfort wear, Flying Machine, one of the well-known denim jeans brands of Arvind Fashions Ltd did not want to lose out on this opportunity. Hence, they are planning to ‘reinvent’ denim jeans. The company wants to make denim lighter and comfortable like joggers.
J. Suresh Managing Director and Chief Executive Officer, Arvind Fashions Ltd., indicated that denim which was the go-to fabric has been shunned by customers. He also agreed that sales of denim for the company has been ‘pretty low.’ However, he sounded optimistic about the pick-up in sales of denim once it’s reinvented. Flying Machine jeans price in India falls in an affordable bracket.
During these unprecedented times, Arvind Fashions has put in place a comprehensive cost management plan that covers a significant reduction in costs during the lockdown period and until sales normalize. When required, the company is utilizing its reserves to cash in on the new trends. Arvind fashions reported a consolidated net loss of Rs 208.12 crore for the quarter ended March 2020, impacted by COVID-19 outbreak and subsequent disruptions in the market. The company is yet to announce its earnings for Apr-June FY21.
