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Amazon 'Prime Day' becomes phenomenon as rivals jump in

Amazon's Prime Day, now in 17 countries, will be held over Monday and Tuesday, highlighted by a pre-recorded Taylor Swift video concert and promotions across a range of products and services from the e-commerce leader.

High-street banks join hands with unicorns to ride cashback wave

For digital businesses, these cobranded credit cards offering cashbacks help improve customer ‘stickiness’ or loyalty to their brand, industry insiders said.

India is a very important part of Amazon's mission: Amit Agarwal

Success in India will not only drive e-commerce growth, but also a big role in growing the SME base.

Steep discounts by e-commerce platforms adversely affect sales by direct sellers: IDSA

The Delhi HC had ruled earlier week that e-commerce platforms including Amazon, Flipkart and Snapdeal cannot sell products owned by direct selling companies online without authorisation of the companies.

How women are sidelined in India's e-commerce growth

India’s internet commerce is seeing explosive growth. But that growth has been mostly driven by what men want, with little less focus on the requirements of women

Retailers cash in on Amazon's 'free marketing' on Prime Day

Walmart Inc, Target Corp and eBay Inc all run their own special promotions to coincide with the annual sale, which this year Amazon has stretched to two days.

Amazon Prime Day 2019: Here are the top deals & offers

This Prime Day, Amazon has launched over 1,000 new products from top brands such as OnePlus, Samsung, Sennheiser, Intel and more available in India first to Prime members.

Amazon workers in Germany to strike over pay, Verdi union says

The strikes, under the motto 'No more discount on our incomes", will coincide with Amazon's Prime Day when the U.S. online retail giant offers its 'Prime' customers discount deals. Germany is its second-biggest market after the United States.

Bengaluru and Delhi customs forbid clearing 'gifts'

Parcels under the CB-12 (gift and samples) route have been stopped at Mumbai, Bengaluru and Delhi, while the customs port at Chennai is also considering similar action.

With Prime Day, Amazon takes ‘sales’ to the next level

Music and videos form the other two key pillars of the programme and at the price-point, buying the membership often proves compelling.

Snapdeal cuts losses by 71% to Rs 186 cr in FY18-19

As per regulatory documents filed by Snapdeal, its consolidated revenues grew to Rs 925.3 cr in 2018-19 as compared to Rs 535.9 cr in 2017-18, marking a sharp increase of nearly 73% in a 12-month period, the company said.

Amazon workers strike as 'Prime' shopping frenzy hits

Amazon workers picketed outside the facility, briefly delaying a few trucks and waving signs with messages along the lines of "We're human, not robots."

To keep discounts in play, Flipkart writes a sop story

Etailer incentivises sellers to pass on additional discounts to ‘loyal’ customers.

Paytm Mall expands portfolio with international brands

The company has partnered with brands across categories like fashion, electronics, home & kitchen range, baby apparel, cosmetics and toys to ensure secured doorstep deliveries within 10-15 days, including clearances, the statement said.

eBay returns to India with 5.5% Paytm Mall stake

Deal, pegged at $150 million, will help eBay load its global inventory in India.

EBay beats second-quarter revenue estimates

The e-commerce company reported net revenue of $2.69 billion for the second quarter ended June 30, down from $2.64 billion a year earlier.

Indians just love to shop on e-comm sale days, even with lower discounts

According to experts, sales are increasing even though discounts are declining because of the belief that shopping online is the cheapest.

Amazon in EU antitrust spotlight over use of merchant data

Amazon, Google, and Facebook are among U.S. tech giants which have triggered complaints from rivals and academics, prompting antitrust enforcers around the world to look at how they use data to boost their market power, which has also led to calls for their break-up.

Loosen your purse strings: Amazon's Prime Day sale expected to make US $6.1 bn this year

E-commerce giant Amazon holds its eponymous Prime Day sale in July each year.

eBay invests $150 million in Paytm Mall

The investment will come as a boost for Paytm Mall, which has undertaken a strategic shift over the last few months in the business model to offline (O2O) commerce and also tackled a cashback fraud.

A tale of two diamond manufacturing cos in trouble

One, a Diamond Trading Company sightholder, has cash flows troubles and is highly leveraged . The other has reportedly misdeclared imports to the air cargo customs .

PNB fraud: Singapore HC orders freezing bank account of Nirav Modi's family

The Singapore high court froze deposits of $6.122 million (Rs 44.41 crore) following Enforcement Directorate's request on the ground that the money was "proceeds of crime" illegally siphoned off by Nirav Modi from the PNB. The account is in Pavillion Point Corporation's name "beneficially owned" by Purvi Modi and Maiank Mehta and is based in the British Virgin Islands.

June gold imports rise 12.6% YoY amid global price rally

Imports were 44 per cent lower in June from May’s $4.78 billion.

Bankers want jewellery industry to become more transparent

The current liquidity crisis in the gems and jewellery industry and bank's non-performing assets have coincided affecting the lenders giving loans to the industry.

Budget 2019: Disappointment for jewellery industry; fears 30% rise in grey market

All India Gem And Jewellery Domestic Council chairman N Anantha Padmanaban told PTI here that the increase in customs duty and GST will hike the prices by 15.5 per cent, which will benefit the grey market.

Gold prices zoom Rs 590 on custom duty hike

In the national capital, gold of 99.9 per cent and 99.5 per cent purity surged by Rs 590 each to Rs 34,800 and Rs 34,630 per 10 gram, respectively, according to the All India Sarafa Association.

Govt hikes import duty on gold to 12.5% from 10%

Around 100 -120 tonnes of gold enter into the country through the illegal route.

Huge discounts on polished diamonds to clear inventories

Many significant players are willing to sell at lower prices because they need to raise liquidity. Industry sources said there is more supply than demand for 0.25 to 0.50 carat stones. Overall the industry has reduced production by 40% compared to last year.

Double whammy for gold retail industry

The Finance Ministers decision to hike import duty on gold from 10 per cent to 12.5 per cent will be a double whammy for the gold retail industry, a segment which is critical for creating the much-needed jobs for the economy.

Hike in gold import duty part of policy to curb non-essential imports: Revenue Secy

He was replying to a question on concerns being raised by certain quarters that the hike in gold import duty to 12.5 per cent from 10 per cent could lead to problems like smuggling.

Ruchi Soya: Resolution may be delayed as NCLT wants to study impact of revised NLCAT order on Essar Steel

The tribunal observed that the NCLAT order has changed the entire outcome for all stakeholders and is like a formula with clear-cut directions on the distribution of the proceeds should be carried out.

Government revokes Nirav Modi's passport

India is seeking Modi's extradition to make him face the law of the land for allegedly committing economic offences like fraud and money laundering.

ED attaches Rs 24.77 cr of properties of Choksi

The action was taken under the Prevention of Money Laundering Act, 2002 in connection with the Punjab National Bank fraud case.

Not enough power to declare Nirav Modi fugitive economic offender: Court

Modi must be tagged as a fugitive before the ED can attach his foreign assets.

Gems, Jewellery exports likely to decline 10-15%

There is a lull in demand in overseas as well as domestic markets, said Colin Shah.

Reliance to launch iconic jewelry brand Tiffany & Co in India

A subsidiary of Reliance Industries, Reliance Brands sells luxury labels such as Ermenegildo Zegna, Brooks Brothers and Bally in India.

Gems & jewellery exports fall 16% in June

Overall gross exports of gem and jewellery fell to $2.8 billion during June 2019, compared to $3.3 billion in June 2018. The April-June quarter saw overall exports decline by 10.4% at $9.8 billion from $10.3 billion for the corresponding period in 2018.

UK court extends Nirav Modi's remand till July 25

The 48-year-old, who is fighting his extradition from Britain to India has been behind bars at Wandsworth prison in south-west London since his arrest in March.

Illegal gold chips away at Kerala Jewellers’ Business

Kerala is the top consumer of gold in the country: rural Kerala’s per capita expenditure on gold is ₹208.55 while for urban Kerala, it is ₹189.95. The southern state is far ahead of the other six top states — Goa, Karnataka, Himachal Pradesh, Tamil Nadu, J&K and Punjab — in gold consumption.

Nirav Modi demands laptop to sift through 5,000 pages of evidence against him

Nirav Modi’s lawyer told a judge that the he needs a laptop in jail so that he can sift through the evidence which the govt of India has served on him. His barrister said: “India has served more than 5,000 pages of evidence on us. It is very difficult in the short visits we have at the prison to take instructions from our client on this."

Titan Q3 net profit up 46 pc to Rs 411.09 crore

Total income during the quarter stood at Rs 5,934.11 crore, up 35.34 per cent as against a total income of Rs 4,384.4 crore in the year-ago period, the company said in a BSE filing.

Delhi HC restrains Ludhiana apparel co. from selling counterfeit Under Armour products

The Delhi Court in its order froze the manufacturing unit of the infringer directing it to maintain status quo on title, possession, and construction thereof until further orders.

A tale of two diamond manufacturing cos in trouble

One, a Diamond Trading Company sightholder, has cash flows troubles and is highly leveraged . The other has reportedly misdeclared imports to the air cargo customs .

Gucci to add sparkle with high-end jewels, Kering's Pinault says

Jewellery has been one of the best performing corners of the luxury industry in 2018, according to consultancy Bain & Co, which forecast that comparable sales in the 18 billion euro global market were set to progress 7 percent this year.

Alcis Sports is turning plastic bottles into lightweight T-shirts

Each t-shirt saves approximately 27 litres of water, uses 50% less energy to produce and reduces carbon emission by over 54%.

Actress Sara Ali Khan is Puma India’s new face

The association kicked off today with a brand activation in Mumbai with Khan spray-painting the brand’s signature campaign message– Do You – as graffiti on Carter Road.

PNB fraud: Singapore HC orders freezing bank account of Nirav Modi's family

The Singapore high court froze deposits of $6.122 million (Rs 44.41 crore) following Enforcement Directorate's request on the ground that the money was "proceeds of crime" illegally siphoned off by Nirav Modi from the PNB. The account is in Pavillion Point Corporation's name "beneficially owned" by Purvi Modi and Maiank Mehta and is based in the British Virgin Islands.

June gold imports rise 12.6% YoY amid global price rally

Imports were 44 per cent lower in June from May’s $4.78 billion.

InfoEdge-backed startup ShoeKonnect pivoting to fashion B2B marketplace

The startup aims to on-board more than 50 lakh small retailers selling footwear, garments, and other fashion products on its platforms.

Sportswear brand Seven by MS Dhoni consolidates global presence

The brand is also available across online platforms like Flipkart, Amazon, Tata Cliq, Jabong and Myntra along with its own website www.7.life.

UK health and beauty retailer Boots to close 200 stores

BOOTS-STORES/UK health and beauty retailer Boots to close 200 stores

Lenskart puts aside Rs 71 crore to build its contact lens unit

Lenskart will spend on product innovation, backend integration and enabling trials, while positioning it as a fashion category.

Under Armour to open stores, take on Nike, Adidas

The company has roped in former Adidas veteran Tushar Goculdas, as MD of its India operations.

Richemont sells luxury leather bagmaker Lancel to Piquadro

Richemont, the owner of Cartier jewellery as well as watch brands including Piaget and IWC, said the deal would have no material impact on its balance sheet, cash flow or results for year ending 31 March 2019

Bankers want jewellery industry to become more transparent

The current liquidity crisis in the gems and jewellery industry and bank's non-performing assets have coincided affecting the lenders giving loans to the industry.

Nike's 'flag' sneaker stirs political outrage in US, footwear brand pulls down product

Nike cancelled the release of the sneakers earlier this week.

Lenskart hires senior executives for top posts

The Faridabad-based company has named Oliver Kaye, who formerly led global apparel and accessories retailer The Gap’s Indian operations, as its chief operations officer and chief business officer,

Adidas seals partnership with singer Beyonce

Adidas, which also has a partnership with Kanye West, said on Thursday it will work with Beyonce on creating performance and lifestyle products, including signature footwear and clothing.

Budget 2019: Disappointment for jewellery industry; fears 30% rise in grey market

All India Gem And Jewellery Domestic Council chairman N Anantha Padmanaban told PTI here that the increase in customs duty and GST will hike the prices by 15.5 per cent, which will benefit the grey market.

Gold prices zoom Rs 590 on custom duty hike

In the national capital, gold of 99.9 per cent and 99.5 per cent purity surged by Rs 590 each to Rs 34,800 and Rs 34,630 per 10 gram, respectively, according to the All India Sarafa Association.

Govt hikes import duty on gold to 12.5% from 10%

Around 100 -120 tonnes of gold enter into the country through the illegal route.

Gucci app now allows people to 'try on' its shoes

Various startups have been, for some time now, using the cool technology of Augmented Reality (AR) to enable people to virtually try on stuff like clothes, spectacles, make-up and hair before actually making a purchase.

Budget 2019: Khadi’s reinvention sees increased budgetary allocation

The Budget expenditure this time for Khadi industries reflects the intent to get the focus back on the versatility offered by the unique hand-spun and hand-woven fabric of India.

More foreign clothing brands may hit the shelves

Consumers may get a wider choice in international apparel brands with Union finance minister Nirmala Sitharaman proposing to ease local sourcing norms for foreign direct investment (FDI) in single-brand retail

Attention, fashion Nazis! Alexander McQueen, Yves Saint Laurent are coming to India

The first of these stores is likely to come up at DLF’s Chanakya mall in Delhi.

After demonetisation & GST, Indian luxury market now hit by stock and currency fluctuations

The overall market contraction has translated to cut downs in sales teams on the shop floors or staffers foregoing incentives after hanging on to their jobs.

Huge discounts on polished diamonds to clear inventories

Many significant players are willing to sell at lower prices because they need to raise liquidity. Industry sources said there is more supply than demand for 0.25 to 0.50 carat stones. Overall the industry has reduced production by 40% compared to last year.

Double whammy for gold retail industry

The Finance Ministers decision to hike import duty on gold from 10 per cent to 12.5 per cent will be a double whammy for the gold retail industry, a segment which is critical for creating the much-needed jobs for the economy.

We are growing because of tailwinds in all sectors: Dilip Piramal, VIP Industries

“It will be a long time before Bangladesh starts to make a bigger contribution in our working.”

Footwear is biggest story for us: Biyani

Elaborating on the trend he said that while women have a minimum of 20 pairs of footwear on an average, men are moving towards owning 20 pairs. “Footwear is the biggest story for us,” he added.

Hike in gold import duty part of policy to curb non-essential imports: Revenue Secy

He was replying to a question on concerns being raised by certain quarters that the hike in gold import duty to 12.5 per cent from 10 per cent could lead to problems like smuggling.

Puma India Partners With Dunzo for Faster Delivery on Limited Edition Merchandise

Fans can now purchase these limited edition shoes with Dunzo through their nearest Puma store in Bangalore, Delhi NCR, Hyderabad, Chennai, and Pune.

When inmates turn models for their own clothing label

In a first, inmates of Presidency Central Correctional Home not only gear up to launch a designer label, they also emerge as the brand new faces of reformation

Titan makes Rs 145 crore provision towards IL&FS investment

Titan said it has set aside its entire investment amount of Rs 145 crore in IL&FS as impairment value. The company had put in that amount in inter-corporate deposit (ICD) which was due for maturity in November and December last year.

Wow! This luxury brand is now making bags with ocean plastic waste

It's no secret that many of the plastic products used by us get washed into the ocean every year. On an average, 8 million tonnes of plastic enters the ocean every year. Most of it takes years to break down, while the majority of it is non-biodegradable. Plastic pollution has countless consequences and threats to the ocean.

Mandhana buyer Formation Textile alleges foul play in resolution process

US co says RP and lenders wilfully suppressed facts, wants to be allowed to modify plan.

Masaba’s label raises $1m in round led by Binny Bansal

The brand currently operates 11 stores across Mumbai, Delhi, Hyderabad, Chennai, Kolkata, Indore, Pune and Bengaluru.

RIL ties up with Turkey's Kivanc Tekstil

"Apart from manufacturing and marketing R|Elan GreenGold fabrics, Kıvanc will be the exclusive distributor of Recron GreenGold fibres to spinners, yarn manufacturers and knitters across Turkey.

Titan Q2 net rises 8 pc to Rs 301.11 cr

Titan said as on September 30, 2018, as a part of treasury operations, it has invested in inter-corporate deposits amounting to Rs 145 crore with IL&FS and its subsidiary.

Richemont highlights volatile consumer demand as net profit falls

"Amidst growing volatility in consumer demand, partly attributable to an uncertain economic and geopolitical environment, we maintain confidence in our ability to realise our long term ambitions," the maker of IWC watches and Cartier jewellery said in a statement on Friday.

Ruchi Soya: Resolution may be delayed as NCLT wants to study impact of revised NLCAT order on Essar Steel

The tribunal observed that the NCLAT order has changed the entire outcome for all stakeholders and is like a formula with clear-cut directions on the distribution of the proceeds should be carried out.

Mexico calls out Louis Vuitton for using traditional pattern

The culture ministry said in the letter dated July 5 that it was surprised to find one chair in the Dolls by Raw Edges collection by the Paris-based fashion house featured the designs of Mexican artists in Hidalgo.

Britain's Superdry slumps to a loss after 130 million pound provision

The group, whose founder and biggest shareholder Julian Dunkerton won a bitter battle to rejoin the board in April, said on Wednesday it made a statutory pretax loss of 85.4 million pounds for the year to April 27 versus a profit of 65.3 million pounds in the 2017-18 year.

Trump's trade war is turning out to be a boon for Bangladesh

Bangladesh's garment industry is sensing an opportunity to sell in US. And it has Trump’s war with China to thank.

Government revokes Nirav Modi's passport

India is seeking Modi's extradition to make him face the law of the land for allegedly committing economic offences like fraud and money laundering.

Fast Retailing quarterly profit disappoints on Uniqlo weakness at home

The company said operating profit for its third quarter through the end of May rose 9 percent to 75 billion yen ($695 million). That was below a consensus forecast for around 79 billion yen, according to Thomson Reuters data.

Katy Perry criticised for racist 'blackface' shoes; online retailers pull designs

The shoes from Katy Perry Collections comes in two shoe colours.

Future Group exits JV with Skechers

Last year, Future Group, which also owns footwear brands such as Lee Cooper, Converse, and Clarks, said it expects to clock Rs2,500 crore in revenue from footwear sales in 2019.

Skechers USA purchases minority shares of its Indian JV

The Skechers India subsidiary will continue operating under its existing structure and from its existing headquarters location in Mumbai.

Adidas elevates India head Dave Thomas, assigns him to look emerging markets

He is replacing Martin Shankland, who has been elevated to the Adidas executive board responsible for global operations effective.

A gift from Adidas: Swapna Barman gets customised shoes to fit 12-toed feet

Barman was born with six toes in both feet which made it difficult for her to fit into regular shoes.

ED attaches Rs 24.77 cr of properties of Choksi

The action was taken under the Prevention of Money Laundering Act, 2002 in connection with the Punjab National Bank fraud case.

J. Crew taps banks for IPO of apparel business Madewell: sources

The move comes three months after J. Crew said it would explore an IPO of the division. The New York-based company is seeking to shore up its strained finances, amid competition from e-commerce firms such as Amazon.com Inc, as well as brick-and-mortar retailers.

Brand Titan is top of the pops in terms of growth but all brands are growing: Bhaskar Bhat

Benefits of formalisation of economy are disproportionately in our favour, says Titan MD

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.

Luxury spending in India sees a 4% growth rate from 2013 to 2018

Demand is expected to be strong owing to country’s favourable demography & long-term economic prospects.

Titan ties up with American watchmaker FTS

As part of the partnership, Titan will further extend its support to FTS by supplying quartz movement kits and training the US engineers.

Adidas says supply chain problems to rein in sales growth

Adidas said currency-neutral sales growth would slow to between 5 and 8 percent in 2019, from 8 percent in 2018, with supply issues accounting for a 1-2 percent fall as it struggles to meet strong demand for mid-priced apparel.

Cut in GST rate on footwear to promote growth, exports: CLE Chairman to govt

New Delhi, Jun 12 () Leather exporters in the country have urged the finance ministry to reduce in the rate of goods and services tax (GST) on footwear with a view to promote growth of the industry and push exports.

Not enough power to declare Nirav Modi fugitive economic offender: Court

Modi must be tagged as a fugitive before the ED can attach his foreign assets.

Leather brand Kompanero to open exclusive stores in Europe

The company already has a presence in Europe, Japan, and Korea via distribution networks.

Miniso targets revenue of Rs 450 crore by December

India is the most important market for Miniso even though the US, Indonesia and Canada are fetching higher revenue, Li said.

Aditya Birla Fashion to acquire 51% stake in retail firm of designer Shantanu & Nikhil

Established in 2007, Finesse runs five stores selling ethnic apparel, footwear and accessories, with annual sales of Rs35 crore. The acquisition is through combination of primary equity infusion and secondary share purchase, the company said in a statement.

Shawls made by prisoners to go on sale

Himachal Pradesh will sell around 25 different products made by the jail inmates through the outlet and Haryana will showcase 32 products of his prisoners there.

Zara's hot polka dot dress beats big data

The frenzy around the garment epitomizes the ability of the brand’s parent, Inditex SA, to ride a sartorial wave.

Growth is going to come from both premium segments and move into tier 3, tier 4 towns: Sandeep Kataria, Bata India

“We have also been able to improve our operating margins by more than a 1%."

JD Sports posts higher FY profit in tough retail space

The company has bulked up over the past year with the purchase of U.S.-based Finish Line and smaller rival Footasylum, and has gained from the "athleisure" trend, which sees people sporting gym clothes at work, school and other social occasions.

Shoe store charges Rs 3 for bag, fined Rs 9,000

The firm was directed to refund Rs 3 wrongly charged for the paper carry bag; pay Rs 3,000 as compensation for mental and physical harassment.

Gems, Jewellery exports likely to decline 10-15%

There is a lull in demand in overseas as well as domestic markets, said Colin Shah.

Spinning mills of North India considering cutting back production

The decision to take this extreme step has come as a result of excess spinning capacity in the country and poor demand for yarn from overseas markets leading to the accumulation of yarn stocks and poor liquidity.

LVMH teams up with Stella McCartney

Stella McCartney, daughter of iconic Beatle Paul, set up her business in 2001 and will "continue as creative director and ambassador for her brand while holding majority ownership," LVMH said in a statement.

Centres to work on banana-silk clothing

Recently, a team from AIC-Sri Krishnadevaraya University visited the AIC NIFT-TEA centre, and they have decided to support each other in shaping up the product.

How Radhika Piramal is steering VIP Industries towards bigger and global roads

Piramal’s daughter Radhika must be given the credit for creating VIP Industries as it looks today.

Richemont posts solid watch and jewellery sales for its full year

Net profit at Richemont more than doubled to 2.79 billion euros ($3.12 billion) in the full year, primarily due to an extraordinary gain of 1.38 billion euros linked to its Yoox Net-A-Porter Group (YNAP) acquisition.

Reliance to launch iconic jewelry brand Tiffany & Co in India

A subsidiary of Reliance Industries, Reliance Brands sells luxury labels such as Ermenegildo Zegna, Brooks Brothers and Bally in India.

UNIQLO to kick off India journey with 3 stores from October

The first of the three UNIQLO stores will open in October in New Delhi, the company said in a statement.

Raymond Weil expects India to be among top 5 market globally in next 4-5 years

Raymond Weil sees huge 'potential' in the Indian market, which ranks around 12 to 13 in its overall global sales, said Raymond Weil Director Olivier Bernheim.

Scorching summer could not cut it for the sunglass division of Titan Eyeplus

“Sunglasses form one-third of our sales. Our country is hot and humid but the penetration of sunglasses is still low. The year-on-year growth is a high single digit. There is still snob value attached to wearing a sunglass,” said Gupta.

3 Indian cos among global fastest growing luxury brands: Report

According to the report, Titan had a sales growth of 23.6 percent in the financial year 2017 and a CAGR of 19.7 percent between the financial year 2015-17, emerging as the fourth fastest growing global luxury goods company.

Gems & jewellery exports fall 16% in June

Overall gross exports of gem and jewellery fell to $2.8 billion during June 2019, compared to $3.3 billion in June 2018. The April-June quarter saw overall exports decline by 10.4% at $9.8 billion from $10.3 billion for the corresponding period in 2018.

EssilorLuxottica in talks to buy Dutch eyewear chain

"EssilorLuxottica confirms that it is in discussions to acquire the 76.72 percent held by HAL Holding NV in GrandVision. No agreement has been reached as yet and it is not certain that the talks will lead to an agreement," the company said in a statement late Wednesday.

Fashion for hire: Americans embrace clothing rental services

Those days are over for more and more American women, who are embracing clothing rental services as a way to freshen up their wardrobes -- but the growing sector could threaten the traditional fashion industry.

Bernard Arnault overtakes Bill Gates to become world’s second-richest person

Louis Vuitton owner LVMH, Arnault’s luxury-goods maker, advanced to a record in Paris and pushed his net worth to $107.6 billion and ahead of Gates by more than $200 million. Arnault has added $39 billion to his fortune in 2019 alone, the biggest individual gain by far among the 500 people in Bloomberg’s ranking.

The key to luxury experiences is story telling: Manmeet Vohra

Manmeet Vohra is a leading name in the luxury and lifestyle industry.

Fashion company Nine West files amended bankruptcy plan

Nine West, which owns brands such as Anne Klein and Gloria Vanderbilt, said it will also receive a three-year purchase commitment from Belk Inc for an assortment of merchandise across the company's businesses.

High-end fashion trumps jewellery spending in 2018

Affluent Indians' spending on high-end fashion and electronics has grown, and even surpassed jewellery spends, finds a report.

JD Sports to buy Footasylum at half its float price

Footasylum shares jumped 74 percent on Monday, trading slightly below JD's all-cash offer price of 82.5 pence per share. The company's initial public offering was priced at 164 pence in November 2017.

EU high court rules against Adidas in trademark case

A European union high court has ruled against German sports apparel giant Adidas' claim that its famous three stripes, applied in any direction, deserve trade mark protection.

Kolhapuris, the famous leather chappal, get Geographical Indication tag

The GI tag will open large markets – both domestic and international – to the artisans producing Kolhapuris.

Back to the future: Puma revamps 32-year-old RS-Computer shoe

The newer version retains the predecessor’s look.

Adidas appoints new General Manager for India

Singh has been with Adidas for over 14 years, most recently as senior vice president of Global DTC & Franchise.

Puma goes up-market with joint collection with Porsche

Puma announced it was replacing German rival Adidas as Porsche's partner last month, and they presented the first shoes and garments at an event at a nightclub in Berlin on Thursday, which will go on sale on March 1.

Nike stumbles into social media storm after basketball star's shoe splits

Zion Williamson, a 6-foot-7-inch freshman forward for the Duke Blue Devils who is anticipated to be the top 2019 NBA Draft pick, suffered a mild sprain to his right knee because of the incident, according to his coach Mike Krzyzewski.

This hi-tech shoemaker shows the way to visually challenged

‘LeChal’, according to Krispian, helps the visually impaired navigate with the help of high-end sensors and vibration motors embedded inside the pods of soles that guide the wearer in the right direction.

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.

Adidas founder’s family office seeks partner for sports tech fund

However, just running an accelerator programme was too modest for ADFO, said Bente. “We realised that there are more opportunities and this space is not disrupted, yet.”

Crocs appoints Sumit Dhingra as new GM for India

Currently, Crocs operates in the region with over 1,500 point of sales across 150 cities via exclusive brand stores and multi brand outlets.

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.

India in the top five markets for Spanish luxury brand Lladro

The Valencia-based brand entered India 13 years ago with limited edition sculptures of Hindu gods and classic pieces like cherubs and ballerinas

Nike is no. 1 in the global sneaker market

Nike is number 1 in the global sneaker market with sales of $22.3 billion. It is followed by Adidas and Asics.

Bata India Q4 profit jumps 69% to Rs 88 crore

Revenue from operations stood at Rs 679.39 crore from Rs 632.31 crore in the year-ago period.

WK lifestyle to enter Indian mobile phone accessories market

"We are planning to open around 200 stores in the next two years," WK lifestyle India Director Rohit Sahni told .

Crocs to cross 100 stores mark in India

India is one of the fastest growing markets for Crocs and sixth largest globally and the company is turning towards India to fuel its next phase of growth.

Under Armour to open 10 stores in India this year

The company believes that it was the right time for them to enter the Indian market.

India can be one of the fastest growing markets for Under Armour: COO

The company will be opening 10 stores in the country during the first year and will assess the roadmap for expansion after seeing the growth. The company believes that it was the right time for them to enter the Indian market.

Lenskart opens 500th store in Bengaluru

The India's largest Lenskart store has additionally enhanced its store design with technological advancements.

Lenskart set to turn unicorn with likely $350-mn SoftBank funding

Eyewear retailer sees huge increase in valuation from $460-470 million earlier.

UK court extends Nirav Modi's remand till July 25

The 48-year-old, who is fighting his extradition from Britain to India has been behind bars at Wandsworth prison in south-west London since his arrest in March.

Why luxe brands are all using the same font

Shortly before London Fashion Week, Burberry Group Plc unveiled a new version of its logo before the first runway collection under new Chief Creative Officer Riccardo Tisci.

Illegal gold chips away at Kerala Jewellers’ Business

Kerala is the top consumer of gold in the country: rural Kerala’s per capita expenditure on gold is ₹208.55 while for urban Kerala, it is ₹189.95. The southern state is far ahead of the other six top states — Goa, Karnataka, Himachal Pradesh, Tamil Nadu, J&K and Punjab — in gold consumption.

Nike touts growing women's market, stays bullish on China

Earnings were dented somewhat by higher company spending, including on new technologies, such as a "Nike Fit" shoe sizing program that uses a smartphone to scan a consumer's foot.

The focus will be on entering new markets in Southeast Asia: Dilip Kapur, Hidesign

Spread over two levels, the Sarajevo store exudes the values of Hidesign: luxury, heritage, craftsmanship, and warmth - all of it natural.

Brazilian slipper brand Havaianas to invest $20 mn in India

Havaianas plans on aggressively focusing on 10 top cities to speed up the distribution and achieve its full potential.

Nirav Modi demands laptop to sift through 5,000 pages of evidence against him

Nirav Modi’s lawyer told a judge that the he needs a laptop in jail so that he can sift through the evidence which the govt of India has served on him. His barrister said: “India has served more than 5,000 pages of evidence on us. It is very difficult in the short visits we have at the prison to take instructions from our client on this."

Fashion retailer Zara FY'19 profit dips 13.4% in India

Inditex Trent Retail India Private Ltd (ITRIPL), an association of Tata group's retail arm Trent, which is engaged in operation of Zara stores in India, had reported a PAT of Rs 82.59 crore in FY 2017-18.

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.

India had higher sales growth than our global average in 2018: says Monachon, VP-Omega

Jean-Claude Monachon, vice president of Omega and head of product and customer service, engages in a quick chat about the Swiss watchmaking company’s performance in India during his recent visit to Bengaluru to launch a line of women’s timepieces.

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.