People were seen breaking into high end stores around Manhattan's Madison Avenue and Fifth Avenue, home to almost all luxury and high-end brands from around the world, and running way with merchandise from the shops. Groups of people also looted pharmacies, electronic stores and other businesses across the city.
The Mukesh Ambani-controlled Reliance Industries is entering the supply-deficient hospitality business and is in talks with big international names such as Walt Disney, Ritz Carlton and Four Seasons
Sales jumped 32% as compared to the previous year
One of Mumbai's biggest real estate redevelopment projects of Bombay Development Directorate's (BDD's) chawls (large buildings divided into many separate tenements, offering cheap, basic accommodation) has taken off in Central Mumbai, opening up a Rs 20,000-crore opportunity for real estate companies. It is expected to drive down real estate prices in Central Mumbai by up to 25 per cent, forecast real estate experts. Spread over 92 acres in Central Mumbai's prime localities of Worli, Lower Parel, and Dadar and consisting 195 four-storey houses, the BDD chawls were constructed in the 1920s.
Having identified India as a key emerging market, Gucci is eyeing direct retail presence.
Given how everything has played out, Mehul Choksi, now 62, achieved all that he wanted but for all the wrong reasons, says Pavan Lall.
It has been voted as the best hotel in the world by Conde Nast Traveler magazine.
The rise of domestic leisure travel, helped by rising income levels, is helping the industry offset the sluggishness in business from foreign visitors
The actor turned showstopper to promote Liva Crme, a new age fabric from Aditya Birla Group.
The UK is the single largest market for Land Rover.
There are also talks of branded garments being put under the luxury tax slab, which could be higher than 18 per cent.
Elon Musk's likely referring to waiver of 30% local sourcing norm for setting up single-brand retail
Contractors were seen busy boarding up major stores and businesses from New York and Boston in the north to southern Houston to Washington DC and Chicago in the east to San Francisco in theWest.
Arvind Ltd would pay $3.2 million to Ralph Lauren to settle a lawsuit the US-based luxury fashion house filed in 2013.
Audi's 2015 sales were three per cent higher than its 2014 sales, which stood at 10,851 units.
The company, which has been selling watches in India through distributors, said it has decided to set up its own subsidiary - Richemont India Pvt Ltd - here as a precursor to opening its exclusive stores.
Immunity boosting foods and drinks. Sustainable fashion. Beauty products with natural ingredients. There was always a market for these, and the pandemic has only made it bigger. Within beauty, brands have recorded a greater demand for ayurveda products.
The National Pharmaceutical Pricing Authority has decided to have one price for basic utility condoms and the other for pleasure condoms.
Optimistic buying in blue-chip stocks ahead of release of industrial production data for July and retail inflation for August drove stocks higher.
German luxury car maker BMW on Tuesday launched its financing arm in India with an investment of $50 million (about Rs 230 crore) to serve the credit needs of retail customers, fleet owners and dealers.
While all champagnes are sparkling wines, not all sparkling wines are champagnes!, says Alok Chandra.
HUL has achieved few milestones in the fiscal gone by and hence is performing good on revenues front.
The German luxury carmarker on Tuesday said it will invest $50 million (about Rs 230 crore) to set up a financial services subsidiary to better serve its customers besides industry as a whole.
'We were taking the Starbucks experience from the store to the home.'
India's electric mobility goal, which has so far been riding on two wheels, is all set to graduate to four wheels. At least, the journey has begun. Hyundai Motor India said it would invest Rs 4,000 crore till 2028 to launch half-a-dozen electric vehicles (EVs) in India. It would eventually straddle premium and mass segments. The first of these - the electrified version of an internal combustion engine (ICE)-powered model - will go on sale as early as next year.
Except for March, when BMW recorded unusually high sales, Mercedes sales were ahead in the other months.
With funds more readily available, Fitch expects a portion of stalled housing projects to resume construction, and this will feed into its forecasts for India's buildings sector growth in the short term.
Several malls and retailers downed shutters in the commercial capital city of Mumbai. Kishore Biyani's hypermarket chain Big Bazaar closed two stores its stores in Mumbai Central and Parel, which are half-an-hour's drive from South Mumbai.
Salma Hayek has tied the knot with French magnate Francois-Henri Pinault in Paris on Valentime's Day.
'Last year, someone told us you must remove 's' otherwise you won't perform well and we didn't perform well.' 'Obviously, that's not the reason for not performing well, but it didn't hurt us to remove the 's'.'
Shashwat Goenka of the RP-Sanjiv Goenka group plans a high-decibel campaign around its young apparel brand 2Bme.
LVMH, which has brands like Christian Dior, Fendi, TAG Heuer and Dom Perignon in its stable, is planning to float a 1 billion private equity fund for emerging markets in Asia, of which 40-50 per cent will be dedicated to India.
Firestar Diamond, which on its website states that its operations span the US, Europe, the Middle East, the Far East and India, blamed liquidity and supply chain challenges.
Buoyed by the success of Louis Vuitton and Christian Dior among upper circuit Indian consumers, other French luxury lifestyle majors Estee Lauder Companies Inc and Jean Paul Gaultier have also announced plans to set shop in India.
BMW began its innings earlier with this year with the 3 Series executive sedan and the 7 Series luxury sedan. Beginning this month, BMW will start assembly of its fabled 5 Series premium executive sedans and retail operations as well.
This is the first market where the newest entrant to Mondelez's global chocolate portfolio will be launched, Siddharth Mukherjee, director, chocolate category & media, Mondelez India Foods Ltd, said in an exclusive conversation with Business Standard.
