Debt-ridden Future Group is now focusing on saving and rebuilding firms such as -- Future Lifestyle Fashions, Future Supply Chain Solutions, Future Consumer and Future Enterprises, after the Rs 24,713-crore deal with Reliance Retail was rejected by secured creditors, according to industry sources. However, Future Group's flagship firm Future Retail Ltd (FRL), which has nearly Rs 18,000 crore debt, is bound to face the corporate insolvency resolution process before the National Company Law Tribunal (NCLT). Other companies like Future Enterprises Ltd (FEL), Future Lifestyle Fashions Ltd (FLFL), Future Supply Chain Solutions Ltd (FSCSL), Future Consumer Ltd (FCL) can sustain on their own and can be rebuilt by restructuring their liabilities with the help of current lenders and investors, said an industry source close to the Future Group.
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She was the first model from Saudi to walk at the Paris Couture Week.
Future group founder Kishore Biyani on Wednesday said the homegrown retail major lost nearly Rs 7,000 crore revenue in first three-four months of the Covid-19 pandemic due to closing of stores, which led him to sell his business to Reliance Industries.
Initial public offerings (IPOs) by start-ups are bringing cheer to investors and investment bankers alike. After food delivery company Zomato, Nykaa has issued the fattest pay cheque to the managers of its share sale -- Rs 148 crore, or 2.8 per cent of its issue proceeds of Rs 5,300 crore. In absolute terms, this is the second-highest amount paid to investment bankers for handling an IPO, while in percentage terms, it is the highest for large IPOs (>$300 million) in the last one year, shows an analysis of the data provided by Prime Database, a primary market tracker.
The company has entered into a strategic partnership with Scootsy, a hyper-local delivery platform
In a country like India, where counterfeit items are sold in every nook and corner, the regulation of trademark infringement poses a big challenge.
Many people in the city fear that even going to markets could pose a threat and departmental stores have started reporting a gap in demand and supply of commodities.
'A Colourful World is for every child, telling them that like the different coloured crayons in a box, they should also appreciate their differing identities, shine and live peacefully with other human beings in our colourful world.'
During the daily media briefing, Lav Agarwal, Joint Secretary, Union Health and Family Welfare Ministry, said that 16 districts in the country, which earlier had cases, have not reported any fresh cases for the last 28 days.
According to the local Brass Handicrafts Manufacturers Association (BHMA), some 800,000 people are directly employed in Moradabad's massive brass handicrafts and utensils manufacturing industry, which has some 30,000 small and micro-scale units and a total annual turnover of Rs 10,000 crore. The manufacturers are heavily dependent on export markets such as the US, Canada, Australia and the European Union. And exports account for nearly 70 per cent of their revenues. According to industry insiders, since this year's lockdowns, manufacturing has been at 65 per cent of normal levels.
The stores will sell products under the Fashion at Big Bazaar brand.
Retail giant Tesco will make foray into Indian retail market as it has signed an agreement with Tata Group-led Trent.
'There is a clear business impact. People are avoiding crowded places and gatherings across cities. This is hitting business, both at traditional and modern trade outlets, during the Holi season, which kicked off from Saturday,' says Praveen Khandelwal, general secretary, Confederation of All India Traders (CAIT).
'Unlike Big Bazaar, where the promoter calls the shot, in ABRL, professionals take decisions. So, every new CEO leads to a change in strategy, which confuses vendors and the team.'
Reliance Retail will acquire the retail, wholesale, logistics and warehousing businesses of the Future Group. Future Group's financial and insurance businesses are not part of the deal.
Having developed a taste for what humans eat, the monkeys are wreaking havoc in Shimla, reports Ashwani Sharma.
'Today with Taliban at our doorsteps literally, we can't even put up our national flag. Only Allah knows, what will happen to Afghanistan now'
While Reliance Retail did not comment, sources said the company will have to follow order, at least in Delhi.
in the last three months, brands such as Tata Starbucks, KFC, and Pizza Hut have launched drive-through or kerb-side delivery services at their restaurants to catch consumers nervous about dining in.
General secretary and spokesperson of Shiv Sena Gurugram wing Ritu Raj said that they had served notices to every meat and chicken shop.
Dairies, milk plants, grocery shops, chemists and petrol pumps, ATMs, e-commerce services of essential items like food and medicines will remain open, he said.
While the talks are still at a preliminary stage, sources said major retail players had held discussions with Amazon
The reason for Trent's success is rooted in its slow and steady approach to expansion. Unlike others, Trent, led by Noel Tata, ensured that each store was profitable before it went on to the next, says Raghavendra Kamath.
While there was unrest in the rest of the Kashmir valley, the Dal Lake was serene and peaceful.
Don't blame us if you go into food coma after reading this!
Will 2022 be a year of contrasting narratives -- one filled with caution and the other with continued optimism?
Future Group Founder & CEO Kishore Biyani wants to take his pet theme of 'collaboration' to the next level for a greater share of the consumer's wallet.
The latest trigger has been Future group's buyout talk with the retail unit of Andhra Pradesh Chief Minister Chandrababu Naidu's family-owned Heritage Foods
Indian industry snubbed Google Play's decision to cut by half its commission for developers when they make $1 million in annual revenue for in-app purchases, saying the US tech giant may continue its "abrasive & monopolistic abuse" as it owns the Android system. Google Play said Tuesday that beginning July 1 it would slash its 30 per cent billing fee to 15 per cent for developers globally when they make the first $1 million of their annual revenue.
Ramdev is very angry' with the Congress after he was accused of destabilising the state government in the wake of revolt by nine party MLAs.
The UK-based retailer can add to the best practices it already brings to Tata's retail business.
'When you oppose a policy, you are labelled anti-government.' 'The problem is, the policymakers have never done any business in their lives.'
'A lot of first-time users who have entered the markets after Covid are increasingly investing in mutual funds, exchange-traded funds, and stocks for their long-term goals.'
With the wedding season already in full swing, a few things to keep in minutes financially when tying the knot, advises Bindisha Sarang.
The daily wage earners who oil the wheels of the movies business are struggling to cope with the fallout of the lockdown.
How are Indians faring during the lockdown?
The details of assets submitted by Lokesh look strikingly different when compared with the declared assets of his family on October 19, 2016.
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