Feedback
A pioneer B2B media and publication platform connecting with Fashion Brands & Retail in India
 

RIL, Future Group iron out differences

  

Reliance Industries (RIL) is in late-stage talks to acquire the retail business of Future Group as the two companies have ironed out their differences over certain terms and conditions and a deal will be announced soon.

RIL will acquire the retail, supply-chain and related businesses of Future, which will mark the end of founder Kishore Biyani’s play in India’s modern retail, an industry he pioneered.

The deal has taken time due to disagreements over the valuation of Future Retail, the flagship of Biyani’s enterprise. Future Retail, meantime, is facing increased liquidity pressure after it missed interest payments on its US dollar-denominated bonds last week.

Subsequently, Fitch cut its credit ratings on the company. Promoters own 42 per cent in Future Retail, which runs hypermarket chain Big Bazaar and neighbourhood grocery chain Easyday Club, but 75 per cent of the holding is pledged as on June 30, 2020.

Biyani is likely to retain the FMCG and residual businesses of Future The deal will be financed through a mix of share-swap and cash.

LATEST TOP NEWS
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10

Indian e-commerce players need better strategies to lure customers

Indian e-commerce players need better strategies to lure customers

      Experts believe without effective e-commerce, India’s post-pandemic economic recovery would be harder than it is now. E-commerce players like Myntra and Amazon are helping physical stores overcome difficulties in delivering... Read more

E-commerce in metros surpasses pre-COVID-19 levels post lockdown: CRED

E-commerce in metros surpasses pre-COVID-19 levels post lockdown: CRED

         A report by credit card bill payment platform CRED states e-commerce spends surpassed pre-COVID-19 levels after the lockdown across Delhi, Mumbai and Bengaluru as more people opted to shop online... Read more

Return to normalcy to fuel popularity of outdoor shopping centers: Report

Return to normalcy to fuel popularity of outdoor shopping centers: Report

     Consumers’ efforts to return to normalcy will expedite the transition from indoor malls to outdoor shopping centers, says data firm Placer. The firm reports a 34 per cent decline in... Read more

Crisil predicts 25-30 per cent fall in revenues of RMG makers in FY21

Crisil predicts 25-30 per cent fall in revenues of RMG makers in FY21

     Crisil Ratings predicts a 25-30 per cent decline in revenues of RMG makers in ongoing financial year due to the prolonged lockdown and lower discretionary spending. The agency expects this... Read more

From casual to need-based, COVID-19 changes consumer’s shopping habits

From casual to need-based, COVID-19 changes consumer’s shopping habits

    Shopping, the favorite hobby of many Indians; especially women, is undergoing a paradigm shift with the pandemic altering not just the modes of shopping, but the products being bought. While... Read more

India expects ‘V’ shape economic recovery from next year: Fin Min

India expects ‘V’ shape economic recovery from next year: Fin Min

     Speaking at a virtual conference organized by the Federation of Indian Chambers of Commerce and Industry (FICCI), finance ministry official said the government was expecting a "V" shape economic recovery... Read more

Apparel brands and retailers defer new launches owing slow demand

Apparel brands and retailers defer new launches owing slow demand

     Apparel brands and retailers have deferred new launches for this season owing to the extremely slow recovery in consumer demand that resulted from the above-mentioned situation, While a big number of... Read more

Designer Archana Kochhar distributes masks to frontline workers

Designer Archana Kochhar distributes masks to frontline workers

     Designer Archana Kochhar and her team understand that no amount of appreciation will suffice to acknowledge the efforts of the frontline workers who are risking their lives without a thought... Read more

Emotional connect, less wastage fuels demand for bespoke fashion in India

Emotional connect, less wastage fuels demand for bespoke fashion in India

    The growing emphasis on quality over quantity is boosting demand for customized fashion in India. With people buying less, their interest in off-the-rack clothes is weaning, feels designer Payal Singhal... Read more

Weekend shopping shrinks as consumers shop during weekdays, office hours

Weekend shopping shrinks as consumers shop during weekdays, office hours

     With consumers venturing out more during weekdays and office hours, the trend of weekend shopping has shrunk to a third. This change is mainly a result of closure of multiplexes,... Read more

MOST POPULAR NEWS
Go to top

Follow Us On:

Face BookDealersForYou

TWDFUpublications

LNDFUpublications

YouTubeDFUpublications

 Copyright © 2020 DFU Publications. All rights reserved.