After the Delhi High Court passed adverse remarks against Amazon, the Enforcement Directorate (ED) has launched a probe against e-commerce firm to investigate whether it violated the Foreign Exchange Management Act, 1999, (FEMA) in its deal with Future Retail.

Last month, while passing its judgment on Amazon’s plea challenging the acquisition of Future Retail by Reliance Industries, the Delhi High Court had observed Amazon appeared to have indirectly obtained control over the Big Bazaar owner without the government approval. This, the Delhi High Court observed, was done with the help of three agreements by Amazon. It further remarked the said agreements appeared to be in violation of FEMA.

The Delhi High Court had ruled Amazon's attempt to control Future Retail through a conflation of agreements it has with an unlisted unit of the Indian company appeared to violating FEMA’s FDI rules. The court, however, had upheld Amazon’s right to make representations to statutory authorities against the Future Group-Reliance Retail deal.

The Delhi High Court had last month analysed the clauses of three agreements—Future Retail's shareholder's agreement with FCPL (FRL SHA), FCPL's shareholder's agreement with Amazon (FCPL SHA) and FCPL's share subscription agreement with Amazon (FCPL SSA). Read together, the court held, the covenants prima facie transgress from a protective right to a controlling right in favour of Amazon.

Besides creating protective rights, the conflation of the three agreements showed that it transgressed to control over Future Retail, which would require government approvals and, in its absence, will be contrary to FEMA-FDI rules, the court states, referring to the FDI policy for multi-brand retail which permits foreign investment of up to 51 per cent under the government route.

The business-to-customer shopping fair Hi Life launched a luxury spring edition in Kochi with a multi-brand selection of women’s wear and accessories. Hi Life showcased a range of bridge-to-luxury brands from across India. The event featured products including ethnic wear, western wear, occasion wear, handbags, footwear, accessories, jewellery, and gift and lifestyle items. There was also a segment for bridal wear for the spring wedding season along with trousseau items.

January has been busy for Hi Life. The event took place in Coimbatore, Ahmedabad, Bengaluru, Hyderabad, and Pune before launching in Kochi. To finish up the month, Hi Life will hold a shopping fair in Calicut. The event will feature a similar product and brand selection to its Kochi edition with several local additions.

In February, Hi Life will organise seven shopping fairs spread across Bengaluru, Visakhapatnam, Vijayawada, Surat, Trivandrum, Pune, and Hyderabad. After having to halt exhibition schedule in spring 2020 due to lockdown and social distancing regulations, Hi Life restarted events with a number of private showcases in October 2020. Then, business began to hold public events again from November last year, slowly ramping up its schedule.

Multi-brand Tier II shopping fair Fashionista will hold events in Aurangabad and Coimbatore and its Tier III focused fair Fashionavya will hold events in Kolhapur and Salem, this March and April. Business-to-customer shopping fair Fashionista’s spring events aims to enable fashion and lifestyle brands to reach customers in non-metro locations and respond to Tier II, III shoppers’ rising demand for branded apparel. Following a number of events at the beginning of the year, Fashionista will take place in Aurangabad from March 2 to 4, the event announced recently.

The exhibition, will feature product categories including ethnic wear, fusion wear, jewellery, handbags, footwear, and gift items, among others. Bridal wear will also feature for the spring wedding season.

From March 13 to 14, Fashionavya will open in Kolhapur at Sayaji. Fashionavya featuring a similar brand selection but more focus on rural shoppers’ needs. From April 2 to 4, Fashionista will take place in Coimbatore. Finally, from April 6 to 7, Fashionavya will hold a spring edition in Salem’s CJ Pallazzio.

Leading fast-fashion brand from Aditya Birla Fashion and Retail, Forever 21, has launched a new flagship store in South Delhi. Spread across the ground and first floor, at DLF Avenue Mall, the new store houses edgy and up-to-date trends and offers an exciting shopping experience with the latest collection across clothing, footwear, and accessories for both men and women.

With great excitement and renewed hope for 2021, the brand is happy to unveil all-new flagship Forever 21 store at Delhi's latest landmark for shopping, dining, and culture, DLF Avenue. The brand wishes to keep up with fashion setting for its customer’s requirements in Delhi, including the current global requirement of comfort clothing. In this renewed journey, the brand looks forward to connecting with its customers with whom it shares a special relationship.

International denim wear manufacturer, Levi Strauss & Co. opened yet another flagship store at Ambience Mall, Vasant Kunj, New Delhi.

The 3,500 sq. ft. space is created to serve customers efficiently and deliver an elevated brand experience, this year; and show cases the company’s collection in all its glory. After opening its second largest store in Ambience Group Mall, Gurgaon the company is looked forward for a better 2021 as it unveiled plans for larger stores in Mumbai, Delhi, Cairo, Dubai, Tel Aviv, Colombo, Riyadh, Marrakesh and Amman.

The brand is doubling the best size, location, format and stores in the top 25 retail destinations in South Asia, Middle East & North America.

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Indian authorities have permanently banned 59 Chinese apps, including fashion shopping apps Shein and Club Factory, as well as Tik Tok, due to perceived security concerns. After border tensions between India and China rose once again, Indian authorities have issued a permanent ban on apps, ranging from fashion apps to messaging apps, close to seven months after issuing show-cause notices to ban them.

The Ministry of Electronics and Information Technology sent new notices to the apps in question to ask for clarifications on a number of security issues and the MeitY was not satisfied with their answers. MeitY thus decided to change the temporary block on the apps to a permanent block. The apps were blocked in July, 2020 under Section 69 A of the Information Technology Act and relevant provisions under IT rules, 2009. In September, 2020 the government went on to ban 118 more apps, also due to security issues.

In November, the government blocked 43 more Chinese mobile apps in the country, including shopping website AliExpress, which retails a multi-brand selection of clothing, accessories, and electronics among other product categories. The permanent ban has currently been applied to the original list of 59 apps. MeitY has not shared whether it also intends to make its other temporary blocks permanent.

 Lenskart, the eyewear retailer, has forayed into the Middle East market and plans to open first store in Dubai. The company has committed $50 million towards UAE expansion. The eyewear specialist launched operations in the UAE through online offerings at its website ae.lenskart.com with free delivery across Dubai, Abu Dhabi and Sharjah.

The UAE is an active market for premium fashion eyewear and colour contact lenses, and Lenskart will be launching brands - John Jacobs and Aqualens - along with lenskart, which has already disrupted markets in India and Singapore.

Within a year, the company plans to provide eyewear through online and offline stores across the Middle East, similar to its current practice in Singapore and India. The move to venture into the Middle East, follows its success and popularity in Singapore where Lenskart is looking to do $30 million revenue in 2021 and achieving the No: 1 position. In the Middle East, Lenskart aims to do the same by building a $250 million business over the next 3-4 years.

Lenskart’s new production facility is under development in Delhi-NCR region of India with an investment of over $100 million and it is going to be the largest eyewear facility in the world with supply capacity of over 150,000 glasses per day.

Trident, the global player in home textiles, has strengthened its retail presence in the country with the opening of six new exclusive showrooms for its bed and bath linen brands. The newly opened showrooms spread across 500 sq. ft each are located in Ludhiana (two showrooms), Panchkula, Pune, Solapur and Bhopal. The tally of Trident’s exclusive showrooms across India has now increased to 12.

These showrooms are a significant milestone in the company’s journey. With this expansion, the company will make its innovative, value driven offerings and affordable luxury accessible to a wider audience who are looking for great quality products by home grown brands.

Trident also indicated the company is open to collaborate with partners under the franchise model, so that the presence of Trident, pervades throughout the country.

In the spirit of ‘Vocal for Local’ & ‘Local for Global’ the company is projecting to take the count of its exclusive showrooms to 45 by the end of 2021. The company also envisages launching other products, within the segment of health and hygiene, which will be conveniently accessible across India, at competitive prices.

Trident has been steadily expanding its brick-and-mortar as well as online retail presence to meet the growing demand for home textiles products triggered by a prolonged lockdown and subsequent growing consumer interest in home decor. To cater to the evolving needs and preferences of its customers, Trident is running ‘Swatchta pe haq toh sabka hai’ campaign. Leveraging advanced technology, Trident has launched ‘Tri-Safe Family Pack,’ its revolutionary offering in bed and bath products, which has been engineered with a special antibacterial topical treatment.

Sangam India has reported a total income of Rs 442.83 crores for the quarter ended December 31, 2020, as compared to Rs 313.29 crores for the period ended September 30, 2020.

The company posted net profit of Rs 7.43 crores for Q3 against net profit of Rs 5.54 crores for same period ended December 31, 2019.Total income stood at Rs 442.83 crores during the period ended December 31, 2020 as compared to Rs 441.38 crores during the period ended December 31, 2019.

The company reported total income of Rs 866.29 crores during the nine months ended December 31, 2020 as compared to Rs 1,396 crores during the nine months period ended December 31, 2019.

The net profit/(loss) of Rs 29.33 crores for the nine months period ended December 31, 2020 as against net profit /loss of Rs 9.79 crores for the nine months ended December 31, 2019.

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