Reliance Retail, the retailing arm of India’s largest private company, seems to be readying alternative strategies now that the dispute over its acquisition of Future Retail – the operator of Big Bazaar super market chain – seems headed for a protracted hearing before the National Company Law Appellate Tribunal. According to a report in Times […]
Flipkart, one of India’s top two online shopping websites, said it has started buying back used mobile phones from users in return for vouchers that can be used to buy any electronics items from the website. The ‘Sell Back’ program will be applicable to items purchased from anywhere in India, and will be expanded to […]
Future Retail Ltd, the highly indebted general retailer caught up in a tussle between US-based retailer Amazon and its Indian rival Reliance Retail, said a request made by its independent directors seeking a loan of Rs 3,500 cr was of a preliminary nature. “The communication between Amazon and Independent Directors were of a very preliminary […]
A day after Titan Co, India’s largest gold retailer, reported a strong, 36% growth in its festival quarter revenue, rival Kalyan Jewellers said it witnessed an estimated 17% increase in sales during the same period. The company, which also has outlets in the Gulf region, said India revenue jumped 15% over the final quarter of […]
Jewelry and fashion accessory maker Titan Co said it saw a 36% growth in the last three months of 2021, boosted by strong festival demand. Jewelry Buoyancy in jewellery demand driven by festive purchases in October and November helped the division achieve significant Revenue uplift for the quarter, the company said. Revenue in this flagship […]
Reliance Industries has raised $4 bln (around Rs 30,000 cr) via the largest ever foreign currency bond issuance by an Indian entity. The amount will be used to retire the group’s existing debt. The bonds have been issued in 10-year, 30-year and 40-year maturities, and also mark the first time any BBB-rated Asian company outside […]
The court of Chief Justice of Delhi High Court will today hear appeals filed by Future Retail and its promoters against a decision by a single judge bench yesterday that refused to issue directions to a Singapore arbitration panel. Yesterday, a Delhi High Court bench comprising Justice Amit Bansal had refused to accept arguments by […]
Ikea, the Sweden-based global furniture retailer known for its frugal and efficient products, is likely to open its third mega store in India in Bangalore around April. IKEA’s India CEO Peter Bezel said the company is on track to open its first store in Bangalore in ‘early summer’, which will make Bangalore the third city […]
V2 Retail, one of India’s largest value retail chains specializing in fashion and items of daily use, reported strong sales growth for July-September, and said the festival season this year has so far been better than pre-pandemic levels. Outside travel, tourism and entertainment sectors, the company had been one of the worst hit by the […]
Titan Co, India’s largest branded jewelry chain, reported a whopping 77% jump in its jewelry sales for the three months ended September, compared to the same period last year. Some of the growth was due to the low-base effect. During the same period of last year, most of Titan’s showrooms were either closed or operating […]
Saregama, India’s largest record label and an emerging force in the digital video space, looks all set to breach its pre-COVID revenue and profit numbers in the current financial year due to rising demand for streaming music. The company’s operating revenue had set a record in the year 2018-19 at Rs 544.7 cr, but declined […]
Vakrangee Ltd said it has tied up with BigHaat Agro Private Ltd to provide end-to-end Agri services, digital advisory as agri input products, including seeds and fertilizers. BigHaat is a digital agricultural platform that offers valuable inputs to farmers by using science, data and technology, such as end-to-end crop guidance and market linkages for various […]
Mumbai-based Raymond Ltd said it has abandoned its two-year-old plan of splitting its garments, or lifestyle, business into a different company, and will instead focus on monetizing its engineering business. The company also said it will spin off its real estate business into a new company, but wholly owned by Raymond Ltd. In 2019, Raymond […]
V Mart, which has just acquired Arvind Fashion’s UNLIMITED chain of stores, wants to retarget these stores at customers who find shopping at Reliance Trends, Westside and MAX too expensive
Shares of Zomato, the mobile food ordering service, have been priced higher than those of similar peers, but the company can deliver returns if it can maintain its scorching pace of growth in the future, according to Indian broking house Nirmal Bang. Zomato is currently in the IPO market trying to raise Rs 9,375 cr […]
V2 Retail, the North India-focused general goods and garments retail chain, reported one of its best quarterly performances ever in the form of the Jan-Mar quarter, but said the subsequent three months have been ‘lost’ due to the second wave of COVID-19. “We were witnessing continuous improvement in demand till the lockdowns were announced due […]
Branded apparel maker Arvind Fashions, which sells clothes under brands such as Arrow, Tommy Hilfiger, US Polo and Flying Machine in India, is trying a new strategy as far as its online business is concerned, said Director Kulin Lalbhai. While traditionally, garment vendors have looked at e-commerce as a way to get rid of their […]
Close on the heels of Titan Co, jeweler DP Abhushan too reported unprecedented growth during the COVID-19 impacted financial year, particularly the last three months. Against Titan Co’s 61% revenue growth, DP Abhushan Ltd reported an even higher growth of 152% in its top line for the three months ended March 2021. The company’s revenue […]
Kalyan Jewellers, which went public with a Rs 1,200 cr IPO last week, said it will open a whopping 14 new showrooms on April 24. The new stores being opened across India will increase the company’s store count to 151 from the present 137. As a part of the expansion, the jewelry retailer from Thrissur […]
Jewellery and accessories maker Titan Company returned to growth after nearly a year, with third-quarter sales rising 12% on year, excluding bullion sales. The total income for the quarter was Rs. 7,324 crores, including sales of gold bullion to the extent of Rs. 340 crores, compared to the income of Rs. 6,226 crores for the […]
