Decathlon is expecting to double its business in the country in the next three to five years, Decathlon India CEO Sankar Chatterjee said, according to local media reports.
The BCCI Apex Council met, on Friday, to decide on a number of issues including apparel sponsorship, which is a significant if not huge income for BCCI.
Snapping the two months slide, the country's merchandise exports rose marginally by 0.5 per cent to $34.58 billion in September while trade deficit narrowed to $20.78 billion. According to official data released on Wednesday, imports increased by 1.6 per cent to $55.36 billion in September compared to $54.49 billion in the year-ago period. The trade deficit, or the gap between imports and exports, was $20.8 billion during the same month last year.
Fast-moving consumer goods (FMCG) distributors' association has written to the Ministry of Commerce and Industry, expressing its apprehensions that the "unchecked expansion" of quick commerce platforms was leading to severe disruptions in the retail ecosystem. India Consumer Products Distributors Federation on Thursday shot an email to the government, saying that significant challenges were posed by the rapid growth of quick commerce platforms such as Blinkit, Zepto and Instamart to the traditional retail sector and the FMCG distribution network in the country.
While Arvind holds 40 per cent in VF Arvind Brands, VF Corp has paid $33 million for a 60 per cent equity in the joint venture.
Athletes on the hunt for Olympic gold will also be chasing likes and follows on social media in Paris, as a battle for a coveted piece of viral fame kicks off at the Games.
Union Minister of Commerce and Industry Piyush Goyal's recent comments on large e-commerce players have reignited the debate about their impact on smaller offline retailers. On Wednesday, Goyal said that the rapid growth of e-commerce in India is a "cause for concern" and is diminishing the market share of small, mom-and-pop stores by offering high-margin products such as consumer electronics and apparel at discounted rates.
Apparel exporters on Thursday expressed the hope that exports would expand by 10 per cent in 2010-11, even as overseas shipments contracted in the last fiscal due to demand slowdown in the EU and US.
The Reliance apparel stores will stock all kinds of apparel, about 4,000 products across as many as 94 brands, manufactured exclusively for the company.
In calendar year 2024, the stock price of Trent has zoomed 160% As compared to the 18% rally in the BSE Sensex during the same period. It has outperformed the market in the past 10 consecutive years.
'The Indian retail landscape is poised for a significant shift with the anticipated arrival of several prominent international luxury fashion brands in 2024.'
Shares of Avenue Supermarts (DMart) have gained about 5 per cent over the past week on better than expected June quarter (Q1FY25) performance, hopes of a recovery in discretionary demand, and margin gains going ahead. The key takeaway from the results was the robust gross margin performance. Riding on improving mix, DMart posted a 34 basis point year-on-year (Y-o-Y) improvement in gross margins to 14.9 per cent.
Indian companies struggle in face of a set of common challenges related to logistics, labour regulations, tax and tariff policy
Hardik Pandya sports a smile as life goes on for India all-rounder
With the export market losing its sheen, a growing number of apparel exporters are drawing up strategies to sell their wares in the domestic market. Analysts said that the higher local demand for branded apparel was because of rising purchasing power of consumers who were now spending 6-7 per cent of their disposable income on ready-made garments. The surge in consumer spending has resulted in a 20 per cent growth in demand for international apparel.
The company's first apparel store will be launched in Gurgaon in October with 22 in-house retail brands and a team of 76 designers tapping the men, women and kidswear segment.
The seaside city of Barcelona is often referred to as the Mecca of skateboarding in Europe, and the trend is particularly notable on the waveramps and bowls of the Marbella skatepark, where skate camps like Damien Chiche's sell out every summer.
The 1972 Munich Olympics are still remembered as one of the darkest days in sporting history. Palestinian terrorists, representing the militant group "Black September," killed 11 members of Israel's Olympic team after taking them hostage.
The government on Tuesday announced setting up of hubs to promote exports through e-commerce medium in public-private-partnership (PPP) mode and initially 10-15 hubs will be established. Finance Minister Nirmala Sitharaman said that these hubs, under a seamless regulatory and logistic framework, will facilitate trade and export-related services under one roof. "To enable MSMEs (micro, small and medium enterprises) and traditional artisans to sell their products in international markets, e-commerce export hubs will be set up in PPP mode," she said.
Whether it's Carrefour, Ford, or other foreign majors, they are ready to adjust their strategies and design their plans in a way that would address the Indian consumption story.
To burnish production-linked incentive (PLI) schemes, the government is considering an overhaul of some of them relating to sectors such as textiles and pharma, and making incentive payments quarterly, officials in the know said. In a bid to cut the delay in processing incentive claims, the government is looking at switching to a quarterly disbursement of incentives. Currently, in most schemes, incentives are annual.
Bollywood actor Salman Khan's social initiative Being Human Foundation plans to launch its range of apparels in international markets like Europe and Middle East by next year.
'We request everyone to stop the war. The Israel police force will not be short of uniforms because of our decision. But this a moral decision. Bombing of the hospitals cannot be accepted... We have decided not to take further orders temporarily'
'The private sector believes that some enablers in labour-intensive sectors like apparel, toys, tourism, and media retail, can unlock a lot of jobs.'
Domestic exporters on Monday expressed concerns over the crisis in Bangladesh and said the developments in the neighbouring country would have implications on bilateral trade. However, exporters expect that the situation may normalise soon. According to exporters, they are already facing disruptions in exports to Bangladesh due to a shortage of foreign exchange in that country.
Pantaloon Retail, the country's largest retailer, is looking at increasing the prices of its apparel products up to 18 per cent, to improve margins in the coming quarters, said a top group executive.
India's apparel exports may hit the $10 bn mark, courtesy quotas on China.
They are facing tough competition from Bangladesh and Vietnam.
Avenue Supermarts, the operator of DMart retail chain, reported good results for the July-September quarter (Q2FY24) with strong earnings before interest before interest, taxes and depreciation (Ebitda) and profit before tax (PBT) growth, but lower PAT due to higher tax incidence. The operating margin improved, and like-to-like store sales growth was strong. Average bill value also increased though this may be a seasonal effect to some extent. Analysts are assuming this means the slowdown in retail may have bottomed out.
"By January 2010 there could be massive job losses on unprecedented scale which could lead to social problems in apparel manufacturing clusters across the country," AEPC Chairman Rakesh Vaid said.
There are also talks of branded garments being put under the luxury tax slab, which could be higher than 18 per cent.
India's gain will be an additional business of $300 million to $400 million per month if 10-11% of Bangladesh's export is diverted to Indian hubs like Tiruppur.
Uttarakhand saw the sharpest decline (of 11 per cent) in the "total persons engaged" in manufacturing in the worst-hit pandemic year of 2020-21 as industrial units shut shop, according to the latest Annual Survey of Industries (ASI) data, released by the Ministry of Statistics and Programme Implementation (MoSPI). This was followed by the decline in the workforce in states such as Jharkhand (8.9 per cent), West Bengal (8.3 per cent), Kerala (8 per cent), and Karnataka (7.8 per cent). The "total persons engaged" in an enterprise is defined as the sum of directly employed workers, supervisory or managerial workers, and the unpaid family members who might be engaged in the enterprise.
An average Indian couple spends around 2x on weddings versus education (pre-primary to graduation).
The stores will sell products under the Fashion at Big Bazaar brand.
Mumbai-based fashion apparel manufacturer Spykar Lifestyle recently received $5 million (Rs 20 crore) investment from private equity firm Avigo Capital Partners.
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