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Flipkart springs surprise checks on sellers

“In case 70% or more of your product samples do not pass the audit, the audit will be considered a failure,” the email from Flipkart told its sellers.

Wal-e-Mart: How the world's largest retailer is shaping up its e-commerce strategy in India

Walmart had an ecommerce strategy in place for India even before buying Flipkart. The second pillar of its master plan is to rope in kirana stores by helping them modernise.

Flipkart to ramp up product range, partners for Perfect Homes

Flipkart, which is being taken over by Walmart in a $16 billion deal, had introduced the furniture brand on its platform last year.

Trent to expand Westside, focus on smaller stores

On the food and grocery format, Auld said the joint-venture will open 20 new smaller stores this year, with hypermarkets no more “the centre of gravity” for future expansion.

After Flipkart’s big moment, startups dream big

A week after the Walmart-Flipkart deal, employees and start-up entrepreneurs are still talking about it.

Paytm Mall adds heft to its service offerings

Till now, none of these services were available in the offline sector… It is a huge challenge, and one that we are looking to solve for them,” Amit Sinha, chief operating officer at Paytm Mall, told ET.

Global practices won't work, jugaad required in India: Sridhar Gundaiah, founder, StoreKing

You can’t replicate something which has worked globally, says Sridhar Gundaiah who founded StoreKing in 2012 to help people shop online through the local kirana store.

Walmart take note, Amazon India valued at $16 billion

India has emerged as the most-valuable emerging market retail segment, which is altogether valued at $44 billion in the report seen by ET.

Flipkart eyes 750cr GMV in furniture e-sales by 2018-end

Expected To Clock Rs 750Cr In GMV By End Of 2018

Milkbasket gets $7 million in new funding

Teruhide Sato, founder of BeeNext, said, "Our investment in Milkbasket provides us with meaningful participation in one of the fastest growing e-grocery markets globally."

Bharti’s Cedar looks to exit Future Retail, in talks with PremjiInvest

If the deal valuation were to go beyond a certain pre-specified threshold, the excess amount would be given to the Future Group, according to the new agreement between the parties.

Retailers to move CCI against Walmart-Flipkart

All India Online Vendors Association, which claims to represent over 3,500 sellers on e-commerce platforms, in a statement alleged that Flipkart India has abused its position.

Flipkart bullish on selling furniture online

The company claims that its furniture division, relaunched in September with its private label ‘Perfect Home’, has a 30% market share in furniture bought online.

SoftBank agrees to sell Flipkart stake to Walmart

SoftBank, which invested close to $2.5 billion in Flipkart through its Vision Fund, is expected to make close to $4 billion on its investment.

Amazon India launches 'Fine Arts' store on its platform

The artwork features limited edition prints starting from Rs 3000 to original paintings of upwards of Rs 10 lakhs, the company said.

Easynomics: Competition and competitors in the Flipkart story

People who are raising the China bogey on the Flipkart-Walmart deal, as Sowell puts it, are emphasising on “protecting competitors, in the name of protecting competition”.

Recap: Sachin Bansal's words of wisdom from his Flipkart days

Bansal may have bid farewell to the e-commerce site, but here's what he said during his time there.

M&S to close 100 UK stores by 2022 as it speeds-up change

The closures represent around a tenth of the clothing and food group's UK stores, as it grapples with weak consumer spending and intense competition from supermarkets, fashion chains like Zara and H&M as well as online giant Amazon

SoftBank confirms it’s selling 22% in Flipkart

SoftBank’s move to exit Flipkart in just less than a year of it investing in the web retailer leaves it with only a solo bet on Paytm Mall.

View: Walmart should become India’s battering ram to crack the Chinese market

Walmart has a huge, flourishing business in China. It can source billions of dollars’ worth of Indian manufactures for sale in its Chinese stores.

Nirav scam: CBI to charge CEO of Allahabad Bank

The new names included in the chargesheet are of PNB executive directors Brahmaji Rao and Sanji Saran, and general manager Nehal Ahad.

Nirav Modi fraud costs PNB Rs 14,357 cr

The fraud was detected at PNB's Brady House branch in Mumbai involving certain accounts under 'gems and jewellery' sector

CBI files chargesheet against Mehul Choksi, his company in PNB scam

In its chargesheet filed in the CBI special court, Mumbai, the agency has also charged 16 other entities, besides Choksi and his companies

Nirav Modi scam: US court wants PNB staff probed

The court said several conversations were held between the US court representative, and officials of PNB and the ministry of corporate affairs in India.

Sebi warns PNB for late disclosures regarding Nirav Modi scam

The Sebi's warning letter has been posted by the bank on stock exchanges as part of regulatory filing

PNB scam: ED issues summons to Nirav Modi's father, sister

Deepak, Purvi and Mayank have been asked to appear before the ED investigators at its Mumbai office to record their statements in the case.

Gem of an idea gets Enforcement Directorate Choksi jewels

This is probably the first time the ED has adopted such a method to secure the valuables before the accused could move them to a different location.

PNB fraud: ED seizes Choksi firm's jewellery worth Rs 85 cr brought from Dubai

The Enforcement Directorate (ED) on Thursday said it has seized over 34,000 pieces of jewellery worth Rs 85 crore from the Gitanjali Group, owned by diamantaire Mehul Choksi, in connection with the Rs 13,000-crore Punjab National Bank (PNB) fraud case.

Demographics to boost gold jewellery demand: WGC

Jewellery demand will persist in developed markets, however, the excitement will be in the emerging markets as their economies grow, according to the report.

India gold discounts widen to most in 2 months; demand up elsewhere

Dealers in India were offering a discount of up to $4 an ounce over official domestic prices this week.

Platinum jewellery’s manufacturing demand to increase 500k ounces by 2023

At present, manufacturing demand for platinum in India is pegged at about 176k ounces or 5 tonnes per annum, which is likely to increase at 500k ounces or 15 tonnes in the next five years

Nirav Modi in London on Singaporean passport: ED sources

The ED has issued summons to Nirav Modi's father Deepak Modi, sister Purvi Mehta and her husband Mayank Mehta. "They were sent the summons through mail," an ED official said.

Gems and jewellery exports dip 22% in April

Exports in April 2017 stood at USD 3.31 billion, the Gem and Jewellery Export Promotion Council (GJEPC) of India said.

PNB fraud: ED attaches Rs 170-crore assets of Nirav Modi

Last week, the agency had seized over 34,000 pieces of jewellery worth Rs 85 crore from Gitanjali Group, owned by Nirav Modi's uncle and jeweller Mehul Choksi, also wanted in this case.

Moody's downgrades PNB on impact of Nirav Modi fraud

The downgrade also reflects the weak internal controls and processes of the bank, given that the fraudulent transactions were undetected for a number of years

CBI likely to approach Interpol for red corner notice against Nirav Modi, Mehul Choksi

The agency had immediately issued a diffusion notice with the Interpol to track Modi and Choksi but their whereabouts remain unknown, the sources said.

Sebi to consider penal action against PNB, Gitanjali Gems

Sebi last week issued a warning letter to PNB for delaying disclosures to exchanges.

Former MD of PNB was aware of Nirav Modi fraud, says CBI

The agency alleged that Usha Ananthasubramanian, then MD and CEO of PNB, was aware of the fraudulent dealings and deliberately misled the RBI about them.

CBI: Nirav staff ‘hid’ 50 cartons of documents

CBI has recorded statements of two important witnesses during its probe into the Rs 13,578 crore scam — Rahul Sisodiya, a junior accountant in Modi’s company, and peon-cum-office boy Ravindra Dinkar Hindelkar

PNB scam: Court orders issuance of NBW against Mehul Choksi

A CBI officer said the issuance of NBW would allow the CBI to approach the Interpol for issuing a Red Corner Notice against Choksi as well as Nirav Modi.

GST, demonetisation came as opportunities for us: Bata CFO

Bata's Chief Financial Officer Alberto Toni says the brand has a strong affinity for India, which offers it a big and "relatively stable" market.

Luxury eyewear tops the shopping list amid note ban, stricter tax norms

​​Sales of luxury sunglasses grew 30% to about Rs 3,800 crore in 2016, its fastest pace ever, as affluent consumers continued to perceive it as an important fashion accessory.

Versace plans to launch furniture range in India

At present, furniture is the only product category in Versace's portfolio that is not available in India.

Relief for garment cos as court rules forex derivatives illegal

Exporters are now upping the ante seeking a Central Bureau of Investigation (CBI) into the issue, which allegedly caused losses to the tune of Rs 38,750 crore to exporters across various industries.

Esprit says to close loss-making operations in Australia, New Zealand

The Europe-focused apparel retailer said it will close 67 directly managed retail stores in the two countries that contributed $37.8 million of revenue in the fiscal year to end-June 2017.

E-commerce contributed 25% to Adidas India's total revenue in FY17

According to Lal, the majority of the e-commerce business for Adidas India still comes from e-commerce players Amazon, Flipkart, Myntra and Jabong.

Luxury watch retailers hope against tax ‘surprises’ in current fiscal

Fortunes of this segment fluctuated last year with introduction of the goods and services tax in July last year, followed by an increase in import duty to 20% from 10% in February.

Trent posts Q4 net profit at Rs 11.66 cr

The company had posted a net profit of Rs 25.26 crore for the corresponding period of the previous fiscal, Trent Ltd said in a filing to the BSE.

How a quiet minimalist revolution is taking place in India's fashion scenario

Its innovation lies in its depth, not width or scale — designers are improving upon age old craft techniques with technological know-how.

Nirav Modi launches second boutique store in Delhi-NCR

The brand entered the city with its first flagship boutique at Defence Colony in 2014.

Accessories brand Baggit eyes 25% revenue growth in FY19

Managing Director Nina Lekhi also expects "double-digit bottom-line growth" during the fiscal.

High-end watches to cost more as duty doubles

“After GST revision from 28% to 18% on watches, India had become one of the cheapest destinations for luxury watches,” said Anil Madan, proprietor of Johnson Watch.

Classic white sneakers are back in vogue

Classic white sneakers are back, with their cachet and business booming in India on the strength of renewed love for retro.

Ludhiana firm eyes Rs 100cr sale after bagging contract to manufacture garments of Swiss Brand

Chugh's other company Million Exporter private limited has won several export awards including MSME award which was conferred to company by Textile Minister Smriti Irani and former union minister Kalraj Mishra.

Virat Kohli to launch athletic leisure brand with Puma in November

The collaboration brand will not just create products but will also create lot of engaging activities and contents to cater to grass root level around sports.

Maternity wear brand Seraphine to enter India in August

Apart from offline distribution, the company also plans to tap in online channel, including its own portal and marketplaces, to increase its products' reach.

Indian Tigers Group plans to invest $100mn in sports e-com

Sportsgeo is offering products in 500 categories targeted at sports and fitness enthusiasts.

Adidas may lay off 25% employees in India

The company, which owns Reebok, could lay off around one-fourth of its staff here in the coming months, said sources, and has been in talks with Reliance Brands to hand over a chunk of its franchise business.

Hrithik Roshan's HRX eyes Rs 500-cr turnover in 3 years

Besides, the company, which is co-owned by Hrithik Roshan and Exceed Entertainment, is looking to foray into personal care, sunglasses and backpack categories.

Sportswear sales rise up to 100% in December

Demand for athletic gear in India has always surged during December due to millions of people making a New Year resolution to head to the gym. But this time, sportswear firms saw up to 100% growth in sales in December, thanks to early end-ofseason sale across the country.

Bata India announces Smriti Mandhana as the new brand ambassador for Power

Bata retails in over 1,290 stores, through its own online platform and in thousands of multi-brand footwear dealer stores pan-India.

Adidas rejigs ops in India to bring down cost

Apart from shutting down non-performing stores, the world’s second-largest sportswear firm has also moved key verticals, including Originals, Football and Premium Running out of India to places like Dubai, said sources.

Tamil Nadu textile entrepreneurs turn to local market for growth

In the absence of free trade agreements or similar arrangements enjoyed by competing nations, Indian entrepreneurs have begun to look at the domestic market.

Apparel package led to additional investments, job creation: Survey

The findings of the survey conducted by the Apparel Export Promotin Council (AEPC) also suggested that Remission of State Levies (RoSL) had a positive impact on the garment industry.

Fake Prada, Gucci among 8,000 luxury items seized

Beware when you go to retail outlets of luxury brands such as Gucci, Louis Vuitton and Prada. The items you see may be just ‘first copy’.

Puma to now open only premium 'Forever Faster' stores in India

Puma had launched the first 'Forever Faster' store in the country in April last year in New Delhi's South Extension market, spread across 4,800 square feet over three floors.

Puma sees India in top 5 in 3 yrs

India assumes significant importance for the company at a time when it has raised global earnings expectation as part of the turnaround progress.

Luxury Paris shoe brand makes India foray

Berluti was established in Paris in 1895 and has been built by four generations of shoemakers. In 2005 fine leather goods were introduced and a complete clothing collection followed in 2011.

Brahmins Group diversify into luxury pen segment

Brahmins has set up a new company Hexagon Insights in association with renowned pen turner Ron Caddy of Acron Crafts in the UK for making hand crafted luxury pens.

ASICS prepares to comply with FDI norms to launch single brand retail

New Delhi, Apr 8 () Sportswear brand ASICS is slowly increasing the share of its products manufactured in India to comply with foreign direct investment norms for single brand retail and open its own stores in the country.

Japan's Uniqlo to open first store in Delhi in 2019

Fast Retailing Co., the Tokyo-listed $17 billion parent company, had last year filed for the single brand licence of UNIQLO with the Department of Industrial Policy and Promotion.

American Tourister announces Cristiano Ronaldo as its brand ambassador for 2018

Ronaldo joins Indian cricket captain and superstar player Virat Kohli as American Tourister’s brand ambassadors in India.

Titan reports 40% YoY jump in Q4 profit at Rs 282 crore; announces Rs 3.75 dividend

Revenue for the quarter rose 11.2 per cent YoY to Rs 3,869 crore.

How Dave Thomas is getting Reebok back on track and pushing Adidas on a high growth trajectory

For Thomas, who was appointed India head in October 2014 and joined three months later, a crippling legacy ensured a baptism by fire. The ghost of Reebok had to be exorcised.

Carlton London to boost e-commerce ops in India

Carlton London, by venturing into multiple retail channels operation, aims to reach out to a wider audience across geographies.

ABFRL Q4 profit rises over five-fold to Rs 113.12 cr

Total income of the company for the quarter under review stood at Rs 1,764.35 crore.

Gucci tops the list of the world's hottest fashion brands

The data has been compiled by global fashion search engine Lyst and The Business of Fashion.

Adidas Group India posts exponential rise in net profit to Rs 113 cr for FY16-17

Adidas Group has posted a revenue of Rs 1,513 crore for the financial year 2016-17 as compared to Rs 1,253 crore it posted last fiscal.

'Free Adidas shoes': Don't fall for it, it's a scam

A message which is circulating across the Facebook-owned messaging app's platform says that users can get a free pair of shoes from an international brand (Adidas) as the company is distributing many freebies on account of its anniversary.

Lenskart plans to invest USD 5 mln in 3 yrs

The company expects Rs 400 crore turnover from eye glasses in the current fiscal year.

Woodland to revamp store design

The company has announced the launch of two new concept stores in Noida in GIP mall and DLF Mall of India marking the beginning of the new design outlets in the country.

DDB Mudra Group wins creative mandate for Puma

Puma has been designing, developing, selling and marketing footwear, apparel and accessories, for over 65 years.

Swedish watch brand forays into India

Swedish watch brand Daniel Wellington has opened its maiden store in the Fort area here.

Gucci-fever helps Kering beats sales forecast in Q4

Kering said sales rose 21.4 percent year-on-year to 4.26 billion euros ($5.25 billion) between October and December, up 27.4 percent on a comparable basis.

Tiger Shroff launches active lifestyle brand ‘PROWL’

The brand is jointly created and owned by Shroff and Mojostar, a joint venture between Kwan Entertainment and Dream Theatre.

Skechers bets on the middle class to sprint to $1 bilion in India revenue

Skechers, which entered India in 2012 through a joint venture with Kishore Biyani-led Future Group, has been doubling its business and plans to add its own manufacturing units and newer categories.

Titan eyes gross revenue of Rs 50,000 cr by FY 23

Jewellery business will continue to be the largest contributor to revenues of the company.

Jimmy Choo's India fit includes a combo of luxury, tech, and a bit of Bollywood too

Global CEO Pierre Denis feels that in India the British heritage has worked to the advantage of the brand which was acquired by Michael Kors last yer.

Titan launches integrated format store in Hyderabad

With an extensive retail network of World of Titan, Tanishq and Titan Eyeplus, the Banjara Hills store is the first integrated store in Telangana.

Nirav scam: CBI to charge CEO of Allahabad Bank

The new names included in the chargesheet are of PNB executive directors Brahmaji Rao and Sanji Saran, and general manager Nehal Ahad.

Selling sneakers like they're diamonds

The high-end sneaker market is big business these days, and the three-year-old Stadium Goods, a consignment reseller of rare or limited editions, has established itself as the Tiffany & Co. for sneakerheads.

Skechers aims to become Rs 1000-crore brand in India; bullish on store expansion

The company clocked Rs 220 crore in revenues in the last calendar year, and now is expecting to increase its revenue to Rs 500 crore by December 2017.

Import duty hike to have short term impact on watch industry: Seiko India COO

South India contributed significantly to the turn over of the company followed by North.

Nirav Modi fraud costs PNB Rs 14,357 cr

The fraud was detected at PNB's Brady House branch in Mumbai involving certain accounts under 'gems and jewellery' sector

India to be the fastest growing market for Montblanc

Despite challenges in locating premium real estate in tier 2 cities for expansion, Montblanc’s sales in smaller towns have been growing through its joint venture with Indian watchmaker Titan and new ecommerce channels.

Arvind Internet plans to expand its omnichannel services overseas

In the past three months, the company has partnered with BATA, Wildcraft, SOCH, CK, AND, Global Desi, Tommy Hilfiger, Numero Uno, Scullers, and Indigo Nation.

Govt okays Rs 2,600 cr package for leather, footwear industry

The package has the potential to generate 3.24 lakh new jobs in three years and assist in the formalisation of 2 lakh jobs as cumulative impact in the two sectors.

On the wrong foot: Bata faces backlash for sexist advertisement in Pakistan

A campaign poster placed in a Lahore mall shows a man striking a pose with the line ‘Womaniser and comfortable with it.’

CBI files chargesheet against Mehul Choksi, his company in PNB scam

In its chargesheet filed in the CBI special court, Mumbai, the agency has also charged 16 other entities, besides Choksi and his companies

Nirav Modi scam: US court wants PNB staff probed

The court said several conversations were held between the US court representative, and officials of PNB and the ministry of corporate affairs in India.

ASICS ups India focus, to open Onitsuka Tiger's retail stores this year

The company is eyeing top metros to open Onitsuka Tiger brand retail stores. The executive said that the size of the retail outlets for this brand will be in the range of 1,000-1,500 sq.ft., the same size as of ASICS outlets.

Saks Fifth Avenue sets up 1,000-seat centre in India

The company's top executives, including chief accounting officer Todd Eugene Zator and chief human resources officer Janis Hamilton Leigh, have made several trips to the country to finalise the details of the centre, sources told TOI.

Sebi warns PNB for late disclosures regarding Nirav Modi scam

The Sebi's warning letter has been posted by the bank on stock exchanges as part of regulatory filing

UK's Mothercare will close 50 more stores in survival plan, CEO to return

Mothercare's sales and profit have been hammered by intense competition from supermarket groups and online retailers in its main UK market as well as by rising costs

Now Reebok has some etiquette advice for Donald Trump, puts out a compliment chart

The company took to Mr Trump's favoured public outreach forum, Twitter, to share the chart.

PNB scam: ED issues summons to Nirav Modi's father, sister

Deepak, Purvi and Mayank have been asked to appear before the ED investigators at its Mumbai office to record their statements in the case.

Gem of an idea gets Enforcement Directorate Choksi jewels

This is probably the first time the ED has adopted such a method to secure the valuables before the accused could move them to a different location.

PNB fraud: ED seizes Choksi firm's jewellery worth Rs 85 cr brought from Dubai

The Enforcement Directorate (ED) on Thursday said it has seized over 34,000 pieces of jewellery worth Rs 85 crore from the Gitanjali Group, owned by diamantaire Mehul Choksi, in connection with the Rs 13,000-crore Punjab National Bank (PNB) fraud case.

Demographics to boost gold jewellery demand: WGC

Jewellery demand will persist in developed markets, however, the excitement will be in the emerging markets as their economies grow, according to the report.

Tissot launches its new boutique with Virat Kohli

The 350 square feet boutique marks Tissot's second stand-alone store in Bengaluru

Cricketer DJ Bravo brings his apparel brand to India

Bravo, who enjoys a fan following in India too, is looking at monetising on his popularity here with the launch of his official merchandise under the brand ‘DJ Bravo 47’.

India gold discounts widen to most in 2 months; demand up elsewhere

Dealers in India were offering a discount of up to $4 an ounce over official domestic prices this week.

Platinum jewellery’s manufacturing demand to increase 500k ounces by 2023

At present, manufacturing demand for platinum in India is pegged at about 176k ounces or 5 tonnes per annum, which is likely to increase at 500k ounces or 15 tonnes in the next five years

Nirav Modi in London on Singaporean passport: ED sources

The ED has issued summons to Nirav Modi's father Deepak Modi, sister Purvi Mehta and her husband Mayank Mehta. "They were sent the summons through mail," an ED official said.

Bata India likely to turn largest market for parent co in 2018

The Switzerland-based shoe major, the parent company of Bata India, expects India to be number one in terms of turnover, surpassing Italy, by December 31 this year.

Gems and jewellery exports dip 22% in April

Exports in April 2017 stood at USD 3.31 billion, the Gem and Jewellery Export Promotion Council (GJEPC) of India said.

PNB fraud: ED attaches Rs 170-crore assets of Nirav Modi

Last week, the agency had seized over 34,000 pieces of jewellery worth Rs 85 crore from Gitanjali Group, owned by Nirav Modi's uncle and jeweller Mehul Choksi, also wanted in this case.

Moody's downgrades PNB on impact of Nirav Modi fraud

The downgrade also reflects the weak internal controls and processes of the bank, given that the fraudulent transactions were undetected for a number of years

CBI likely to approach Interpol for red corner notice against Nirav Modi, Mehul Choksi

The agency had immediately issued a diffusion notice with the Interpol to track Modi and Choksi but their whereabouts remain unknown, the sources said.

Sebi to consider penal action against PNB, Gitanjali Gems

Sebi last week issued a warning letter to PNB for delaying disclosures to exchanges.

Baggit to commence retail growth journey in Tier II, III cities

Currently holding 52 exclusive Baggit stores and 1000+ retail doors via large format stores and multi-brand outlets, the online retailer is keen to open a lot more outlets in each city of India

Adidas India to open 4-5 stadium inspired outlets this year

This format is available globally in countries such as US, UK, France, Japan and South Korea.

Myntra reduces losses by 25% to Rs 655 cr in FY17

This reduction in losses comes even as Myntra Designs, the main entity that runs Myntra’s marketplace, clocked a whopping 94% increase in FY17 revenues at Rs 2,000 crore from Rs 1,031 crore last year.

Fairtrade certified fashion brand Soul Space launches its first retail out in Pune

The brand plans to expand in Mumbai, Bangalore and Hyderabad taking up the total number of stores to 20 in the current financial year.

Private equities to buy Vishal Mega Mart for Rs 5,000 crore

A definitive agreement was signed on Saturday and an official announcement is due as early as Tuesday, these people told ET.

Italian fashion legend Carla Fendi dies at 79

The Italian luxury label confirmed Fendi's death on Monday, according to The Hollywood Reporter.

US' Saucony coming with Reliance Retail

Tata International and Wolverine Worldwide formed a 50:50 JV for wholesale distribution of Wolverine's Merrell and Caterpillar footwear brands and apparels in India.

Shahnaz Husain Group launches herbal deodorant range

"There is no gas component in it, as compared to other deos in the market", said beauty diva Shahnaz Husain.

Liberty Shoes looks to add 50 more stores by next year

The company, which has about 12 sub-brands in its portfolio, is planning to introduce some new varieties in footwear products and mulling stepping up its retail presence.

Retail getting stronger as most retailers are investing in digital space: S Subramaniam, Titan

“A lot of online players are getting into brick and mortar as well. It is good for the industry”

Former MD of PNB was aware of Nirav Modi fraud, says CBI

The agency alleged that Usha Ananthasubramanian, then MD and CEO of PNB, was aware of the fraudulent dealings and deliberately misled the RBI about them.

S V Global Mill to pay Rs 100cr to minority shareholders: SC

The Supreme Court made it clear that “there will be no triggering of the SEBI Takeover Regulations” as a result of the share purchase of Rs 100 crore ordered by the court.

Cut in incentives led to 30% drop in textile exports

For apparel manufacturers, it was a double whammy, as some of the key global markets imposed value-added tax (VAT) on apparel exports from India.

H&M weaving plans to increase garment sourcing from India

“India is better placed as a supplier for us. Several of our SKUs in the H&M Home brand are sourced from India. We have asked our Indian suppliers to find out ways on how we may improve sourcing from India,” Einola told.

Samsonite defers launch of ebags.com in India

At present, 10 percent of Samsonite's sale comes from online channel and according to Tainwala, the company has set itself an ambitious target of generating 50 percent of revenues from e-commerce by 2022.

Will India’s diamond cutting operations shift to Israel, Belgium?

India is the world’s largest cutting and polishing centre of rough diamonds, and it is said that 14 out of every 15 rough diamonds in the world are polished here.

Kriti Sanon announced as Bata's brand ambassador

Bollywood actress Kriti Sanon has been announced as the brand ambassador of Bata India. It is after 21 years that the footwear brand has finalised a Bollywood face post it's association with Rani Mukerji.

CBI: Nirav staff ‘hid’ 50 cartons of documents

CBI has recorded statements of two important witnesses during its probe into the Rs 13,578 crore scam — Rahul Sisodiya, a junior accountant in Modi’s company, and peon-cum-office boy Ravindra Dinkar Hindelkar

PNB scam: Court orders issuance of NBW against Mehul Choksi

A CBI officer said the issuance of NBW would allow the CBI to approach the Interpol for issuing a Red Corner Notice against Choksi as well as Nirav Modi.

Liberty scion drags father, others to court over property

The 30-yr-old is demanding additional stake in all properties and assets of Liberty Footwear Group Company and HUFs, which have substantial holdings in Liberty Shoes and Liberty Footwear group firms.

Is it still luxury if it is online?

While some luxury labels are available online, many only sell in stores.

Onitsuka Tiger targets 12 stores in India by 2020

As per its strategy, it will build up a sales network by adding 3-4 stores every year on franchise model to cash in on increasing and growing appetite for luxury things.

Casio exhibits latest product at CES 2018 in Las Vegas

From home appliance manufacturers to automobile makers, 4,000 companies from various industries took part in the mega show.

‘Bata is a global player with strong Indian roots’

The company’s global CEO Alexis Nasard spoke to TOI about how Bata plans to shake off its traditional image and strike the right chord with the youth.

Naukri.com invests Rs 3 crore in ShoeKonnect

The funding will be deployed for strengthening its technology base to scale up operations and expansion in terms of the userbase of footwear buyers and sellers across India.

VIP to invest Rs 80 cr on advertisements and promotions this year

The luggage-maker has rolled out the television campaign with star cricketer Rohit Sharma for its mass luggage brand Aristocrat and is in the process to roll out another campaign for its premium brand Carlton soon.

Alcis Sports inks tie-up with FIFA

Alcis Sports, a flagship entity promoted by casual and sportswear maker Paragon Apparel, manufactures for categories including running, training and sports.

Hrithik's HRX bags award for best Celebrity License Brand

New Delhi [India], August 24 (ANI) Bollywood actor Hrithik Roshan's fitness brand HRX has added a new feather to its hat.

Adidas-owned Reebok cleared to open own stores in India

The move follows the government's decision to give similar approvals to Chinese smartphone maker Oppo and luxury goods retailer Louis Vuitton's this month.

Nirav Modi continues global expansion, set to open boutique in Beijing

Founder Nirav Modi stated that he had Chinese customers visiting his boutiques in New York, London, Hong Kong and Macau.

Reebok India says it expects license in a month or two

In November 2015, Adidas, the parent company of Reebok, had received approval to open 100 per cent foreign-owned large Adidas outlets in India.

'Expect Samsonite India sales to touch Rs 1,600 cr in 2018'

Leading with enhancing the capacity of its Nashik facility, the company would invest significantly in design and development in the country, she added.

Five platforms to satiate your hunger for luxury products

Here is a list of five platforms to satiate one's craving for luxury products:

Bang & Olufsen partner to beef up luxury portfolio with new brands

​​The company will launch Louis Vuitton Moet Hennessy's subsidiary brand Berluti Paris by November this year, besides bringing in UK-based cosmetics brand Molton Brown.

Samar Lifestyle to make, sell Florsheim shoes in India

The licensing agreement with Samar Lifestyle, part of the Sara Group, will translate into at least 25 flagship stores in the next five years.

GST brings sale season forward as firms offer luxury items on discount

From July 1, luxury watches are set to get more expensive and Ethos, which retails luxury watch brands like Rolex and Dior, is on sale calling it the greatest sale of all time.

Ikea to make India manufacturing hub for sofas, furniture

One of the ways how Ikea plans to reduce prices of its products in India is by exporting locally-made products to its global stores to achieve economies of scale. Although the company has been sourcing from the country for 30 years for its stores worldwide, textiles constituted 70% of its exports.

Ikea to set up centralised call centre in Hyderabad

Antoni said Ikea will also be setting up its centralized distribution hub on Pune’s outskirts to cater to all its India stores. While to begin with, a nearly 200,000 sft leased warehouse will open in Pune by October-November 2017.

Ikea to open India distribution centre in Pune by December

The one-lakh square feet warehouse will supply Ikea products to all the upcoming stores in the country. The company plans to open 25 stores.

De Beers to invest $140 million for marketing in India, US, China

The increased investment will be focused on generating further consumer demand for diamond jewellery in the leading markets like US, China and India.