A Singapore court on Thursday granted a four-month moratorium to Indian cryptocurrency exchange WazirX, a period which the embattled firm will use to restructure its business without worrying about legal proceedings. A moratorium offers applicant temporary relief from legal proceedings. WazirX, India's biggest crypto exchange, suffered a major hacking attack in July this year losing close to $230 million.
Crypto exchange WazirX has said customers affected by the recent cyber attack will not be able to recover their full funds even as the firm looks to restructure. At a virtual press conference, the firm's advisor said at best the company might look to return 55-57 per cent of the money. "This is what can be returned to users with the benefit of this restructuring," said Jason Kardachi, managing director (restructuring), Kroll.
Investors should be mindful of the high volatility in cryptos: Bitcoin has fallen more than 80 per cent in past corrections.
High-end brand experiments with EMIs via credit cards to push market share.
Trashing the posters, Patel alleged that such acts show the 'utter desperation' of the BJP as it fears defeat.
Those who want to invest should consider their risk appetite. Youngsters may go for it as they have a longer horizon to recover from a setback.
Reliance has around 100 Delight stores in the country.
In October 2012, Flipkart entered the menswear segment; later it launched a womenswear range
There are also talks of branded garments being put under the luxury tax slab, which could be higher than 18 per cent.
Sales have picked up in the past few days for retailers in the apparel and consumer durables segments.
PepsiCo has tie-ups with KFC, Pizza Hut, Domino's, Burger King, and Subway in India, while Coca-Cola has a partnership with McDonald's only
Bombay Dyeing is betting on creating a range of unique, customised textile products, a route that is largely unexplored by the home textiles players although several industry reports and consumer behavior studies have talked about the potential for personalisation.
The US-based firm has marked down the value of Flipkart for the sixth time, the latest at a time when it has been struggling to raise funds at a valuation higher than or equal to $15.2 billion.
Online grocers like Bigbasket and localbanya witness surge in sales.
China accounts for more than one-third of the apparel export market
Feel the pinch of predatory pricing by e-tailers
Both Indian firms have been in talks with investors for nearly a year to raise fresh funds of as much as $ 1 billion, but with little success so far.
Exporters say their capacity utilisation has reached almost 70 per cent and that big firms have brought it up to as high as 85 per cent.
E-commerce model appears to be the best bet available to US retail giants at this point to tap the Indian market.
In its first acquisition in India, the American online retail giant is planning to buy out the fashion portal
Rupee depreciation pushes apparel exporters' margins by 5-7%.
'Manthara wants Kaikeyi to make her son Bharat king of Ayodhya, instead of Rama.' 'She fuels hate and mistrust in her queen, much like what many modern-day viziers are doing, whipping up venom and frenzy among an entire nation,' notes Arundhuti Dasgupta.
VIP Industries, the second largest luggage manufacturer in the world, is using the theory of constraints to improve its profits, reports Ritwik Sharma.
A sharp fall in the price of Bitcoin and other cryptocurrencies is another hard blow to the already sinking cryptocurrency market in India. Global and domestic prices have been on a downward trail since November last year when Bitcoin prices hit a peak of close to $68,000 in international markets. The recent past has seen a much sharper fall in the price of the leading cryptocurrency, Bitcoin.
Backed by the China-plus-one policy, India's textile and apparel exports have seen a 53 per cent growth during the April-November period of the current fiscal year at around $26 billion. This compares to the figure of $17 billion during the same period in FY21. According to Wazir Textile Index, all major companies including Welspun, Vardhman, Trident, KPR Mills, Indo Count, RSWM, Filatex, Nahar Spg and Indorama have posted higher sales during the first half of the current fiscal year compared to the pre-pandemic year.
The Bansals losing out operational control of Flipkart comes at a time when global rival Amazon, in which Tiger Global holds a minority stake, is stepping up investment in India in an attempt to overtake the Bengaluru-based e-commerce firm.
Feedback has led the brand to ramp up its shirts collection, despite the popularity of its polo t-shirts.
Which sectors will bounce back fast? Which will lag? Has the consumer changed forever? Here are some answers.
Reliance had been trying to bring the brand back to the forefront recently, after years of lull, through new ad campaigns highlighting a youthful range, called Unformal, in workwear.
Yum reduced the number of restaurants in India by 14 in the September quarter from the preceding quarter to 811.
Market experts say that of the total 600,000 villages in India, under two per cent or around 10,000 villages contribute to about half of the rural consumption in the country. Targeting these villages and ensuring that penetration is strong is key for most consumer goods companies.
Among the top 10 fastest growing consumer brands in the country, Yellow Diamond leverages the growing preference for local flavours in the snacks market, says Samreen Ahmad.
Raymond claims to be spending more than 10 per cent of its ad budget on its biggest campaign, called The Summer of Wool.
The war is on! Ritwik Sharma finds out what's next for the beauty retailer.
It took the Aditya Birla group four years to make up its mind on entering the the burgeoning e-commerce market in the country.
Unlike some of India's largest online retailers like Flipkart, Amazon, Myntra and Jabong, which are very secretive about their data and use it to cut better deals with brands than their competitors, the Nykaa monetising its insights. If it is is able to do so without giving away any of its advantages to competitors, it could be on to a winning model.
'If you are ready to stomach the loss, you may invest 3-5 per cent of your portfolio in crypto assets.' 'Of this, 80-90 per cent should be in Bitcoin.'
AND, W, Biba step up their game worldwide. While global brands go all out to woo India customers.
Almost two years after it entered India, global fashion retailer Gap struggles to keep up with rivals Zara and H&M.
The idea that technology and startups with newer business models will not disrupt traditional businesses has been thrown out the window.
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