V-Mart, India’s largest chain of smaller-sized fashion stores, said it has started purchasing fresh stock from its suppliers after nearly six months of freeze on garment procurement. The company was hit hard when a nationwide lockdown was imposed by the central government in late March to control the spread of COVID-19, particularly as it had […]
Titan Company, India’s largest jewelry retailer and a part of the Tata Group, said second quarter revenue from its mainstay jewelry division was almost at the same level as what was seen in the same quarter last year, while its eyewear and watches division continued to suffer from the impact of the pandemic. The jewelry […]
Future Retail, the pioneering modern retail chain founded by Kishore Biyani, today said it will take steps to implement its agreement with Reliance Retail as it is not a party to the agreement quoted by global retailer Amazon to block its merger with Reliance Retail. The agreement is with one of its promoters and group […]
Some of the gains made by the e-commerce sector during the COVID-19 lockdown is permanent and retailing will never be the same again even after the pandemic, said Sanjiv Mehta, chairman and managing director of Hindustan Unilever Ltd. As India’s largest supplier of consumer goods, HUL has a lot at stake in health and longevity […]
Jubilant FoodWorks, the company behind Domino’s Pizza and the franchisee for Dunkin’ Donuts in India, reported a growth of 10% in its delivery sales and 55% in its take-away sales for August compared to the same month of last year. However, dine-in sales were still down 84% compared to August 2019, resulting in a net […]
Department store chain Shoppers Stop, the pioneer of organized retail in India and one of the country’s largest retailers of fashion and beauty products, will connect its individual stores to its Amazon shopfront by next month as part of its omni-channel strategy. It also said it would focus on Tier 2 and Tier 3 towns […]
North India-focused fashion retailer V2 Retail Ltd reported an 82% fall in its sales for the Apr-Jun quarter, as the COVID-19 pandemic hurt consumer sentiments and frequent lock-downs disrupted store operations. Revenue from operations fell to Rs 37 cr from Rs 202.3 cr in the year-ago period and Rs 129.2 cr in the March quarter. […]
D-Mart, India’s most famous deep discount retail chain, said it is working on expanding its footprint beyond its current footprint of 214 locations, but the ongoing COVID-19 will impact the number of new stores that will be opened this year. The company, which started with just two stores in Mumbai in 2002-03, expanded to 214 […]
D-Mart, arguably India’s most successful low-cost retailer, may be looking at a multi-city e-commerce launch in coming days, after years of avoiding the sector citing the gruesome economics of online retail in India. Avenue Supermarkets, or D-Mart as most people would know it, is known for its fanatic focus on keeping costs down and its […]
Hindustan Unilever, the biggest advertiser in India, protected its profit margins during the Apr-Jun period by slashing its advertising budget by about 32%. Given that this is after merging GSK’s consumer healthcare business with itself, the actual decline in advertising is likely to have been in the 35% range. Even after adding GSK CH numbers, […]
Kerala has launched the much-awaited BevQ app to facilitate the sale of liquor in the state from tomorrow onward. The app will be available in the Google Play app store in a few minutes, after which connoisseurs can download the same and a slot in the virtual queue tomorrow. ‘Hot’ liquor will be served through […]
At a time when companies are hoarding cash, Indian online classifieds pioneer JustDial Ltd has announced plans to return up to Rs 220 cr to its shareholders via a stock buy back. A stock buyback is one of the two key ways to give excess cash generated by a company back to shareholders, with the […]
Dabur, one of India’s largest manufacturers of daily essentials such as toothpastes, nutraceuticals and so on, said it saw a material impact on its its finances from the ongoing COVID-19 impact, and said it was exploring online options to boost sales. “On account of Covid-19 and consequent lockdown since March, the impact on our production […]
Kerala State Co-operative Consumers’ Federation Ltd, popularly known as ConsumerFed, has started online ordering of grocery kits, starting with the Ernakulam district. The government-controlled body, however, is yet to scale up deliveries, and is accepting only 100 orders per day. Moreover, orders are currently being delivered only out of the Kakkanad depot, in an around […]
Kerala High Court has stayed a government of Kerala order allowing the sales of alcohol to anyone who produces a doctor’s prescription for the same. A civil supplies department official had issued directions to liquor dispensing agencies instructing them to provide liquor in case a person came with a doctor’s prescription for the same. At […]
With a 21-day lockdown on people movement coming into place overnight, the Kerala government has taken an in-principle decision to allow the sale of liquor via the Internet. A decision in this respect was taken at today’s meeting of the council of ministers headed by Chief Minister Pinarayi Vijayan, according to local media reports. Liquor […]
India is going into a country-wide lockdown from today midnight for 21 days. While this may be a new experience for people in many parts of the country, for those in places like Mumbai, Bangalore, Kerala and Delhi, lockdowns are already in place to prevent the spread of Coronavirus. Based on the rules implemented in […]
Fashion retailer Shoppers Stop said it has shut down 2 of its 91 shops due to lower-than-expected sales and poor profitability. The shops that have been shut down are located at Orion East Mall, Bangalore, and The Grant Mall, Chennai. It said it took the decision “due to lower than expected business” at the two […]
Kishore Biyani owned Future Group announced that US-based private equity firm Blackstone will take a 6% stake in its fashion/garments unit, Future Lifestyle Fashions, by investing ₹1,750cr ($250 mln) into Ryka Commercial Ventures Pvt Ltd, the holding company of FLFL, and directly into FLFL. Blackstone joins other groups such as L Catterton, Premji Invest and […]
GATI, one of India’s largest parcel and logistics companies, reported a 6% decline in its operating revenue for the July-September period, and blamed an ‘abrupt slowdown’ in certain segments of e-commerce. The company was able to bring down expenses, including non-cash items, by only about 3.1%. As a result, the company also swung to a […]
