Traders' body CAIT has urged the government to investigate Flipkart for its the blatant violation of FDI and taxation rules. As per a report by Economic Times, CAIT has alleged that the Walmart-owned firm has restructured its business model to exercise control over inventory and retail prices.

This warrants an immediate investigation and strict action from the Indian government, including tax authorities, Confederation of All India Traders (CAIT) added.

In 2018, WalmartInc had invested $16 billion for acquiring a 77 per cent stake in Flipkart. Last year, the US retail giant led a $ 1.2 billion funding round in the Indian e-commerce company.

CAIT noted that in 2019, Flipkart had created a two-tier model consisting of ADs and Diamond Sellers (DSs) and that currently, there are 20 DSs and 10 ADs in place.

These 30 entities were created for the sole purpose of granting control of inventory and prices to Flipkart, and to "act as an eye-wash and (to) distract the government from taking note of the wholly illegal activities" being undertaken by Flipkart and these entities, it alleged.

CAIT alleged that the ADs and DSs exist only for GST compliance and to service their arrangement with Flipkart and cede control for a minuscule cost.

By 2023, Welspun India’s e-commerce operations will contribute 100 per cent to its overall business, says Dipali Goenka, CEO & Joint Managing Director. Welspun India’s business reached $1 billion in FY21. Its core business in the US along with the UK has been strong. The company saw a massive growth in core business. Its advanced textile and flooring businesses posted 87 per cent growth YoY and contributed 15 per cent to its revenues.

In coming year, Welspun expects its overall business to grow by 15 per cent. Its core business is likely to grow by 10 per cent while the company may see a 125 per cent growth in its flooring and 50 per cent growth in advanced textile business. Its EBITDA is expected to grow 17-18 per cent despite challenges. Their online UK brand Christy recorded 2 million views last year. The company’s e-commerce operations contributed 6 per cent to its overall growth last year

Nykaa Fashion has launched a new sustainability edit that features a mix of sustainability-focused labels from across established as well as upcoming fashion brands. This carefully curated list represents the advocates of eco-friendly, fashion that focus on the three R's 'Reduce, Reuse, Recycle'.

The list of Mindful Labels includes brands like GAYA, Doodlage, Khara Kapas, GUR, Dobby, Kaarpas Kanelle, Taro, Maati by Neha Kabra, Koyi Taro, Bohame, Mishe, A Humming Way, Urvashi Kaur, Kanelle, Okhai, Koyi Taro, Pozruh, Merakus, Satva and accessories labels like Paio Shoes, Dhaaga Handicrafts, Modern Myth, The Cai Store, The Slow Studio, Dhaaga Handcrafts.

According to Adwaita Nayar, CEO, Nykaa Fashion and Founding Team Member, Nykaa, the Sustainability Edit crafted initiatives across the website and app will help drive awareness, propagate change as well as engage consumers via compelling conversations around sustainable fashion.

The initiative will help Nykaa become a destination for consumers to shop for sustainable labels and also educate themselves on all aspects of sustainability.

Aditya Birla Fashion and Retail (ABFRL) acquired a 51 per cent stake in luxury designer brand-Sabyasachi Couture for Rs 398 crore.

The transaction was monitored by Khaitan & Co alongwith ABFRL’s core team comprising partners Arindam Sarkar and Suhana Islam Murshedd, and Shourya Sengupta, Principal Associate and Sneh Lata, Senior Associate with assistance from its due diligence team, Riya Dutta, Senior Associate and associate Anwesha Sinha.

ABFRL is a part of the Aditya Birla Group, a US$ 48.3 billion Indian multinational, in the league of Fortune 500. Anchored by an extraordinary force of over 120,000 employees, belonging to 42 nationalities, the Aditya Birla Group operates in 34 countries across the globe.

Womenswear designer Aprita Mehta has launched a fundraising campaign for COVID-19 relief. Titled ‘Wishful Wednesday’, the campaign aims at donating proceeds from specified collecitons to charities every Wednesday.

As per Fashion Network, Mehta will donate all proceeds from different collections during May to charities fighting COVID-19 every Wednesday. On ‘Wishful Wednesdays’, designated garments are marked at 20 per cent online for the event

This Wednesday, Mehta’s eponymous brand supported the Hemkunt Foundation and donated proceeds from its reduced shararas and sarees to the cause. The Hemkunt Foundation, which has partnered with many fashion brands during the past month, is a NGO based on the Sikh principle ‘Sarbat Da Bhalla’ and aims to provide welfare for all. The NGO is currently focusing on the second wave of the pandemic and giving people free oxygen, beds, and food at its ‘O2ForYou’ drive through in Gurugram.

India’s biggest fashion marketplace, Myntra has extended support to its brand partners whose operations were impacted by second COVID wave, As per Economic Times, the e-tailer has extended support in the form of funding of medical expenses as well as fee waivers and extension of payment deadlines

The Flipkart-owned fashion etailer will also give its brand partners a COVID insurance and reimburse their vaccination costs. On the operations front, Myntra has relaxed the order fulfilment turnaround time from 24 hours to 48 hours. Seller protection fund (SPF), the window within which the sellers make claims against returned products, has been extended from 14 to 45 days. Myntra has also waived order cancellation charges for the brand partners for April and May.

Myntra is also vaccinating its frontline staff including delivery workforce, employees and is extending home care support, tele-consultations and diagnostic and pharmacy support to third-party employees.

Traders' body CAIT has urged the government to investigate Flipkart for its blatant violation of FDI and taxation rules. As per a report by Economic Times, CAIT has alleged that the Walmart-owned firm has restructured its business model to exercise control over inventory and retail prices.

This warrants an immediate investigation and strict action from the Indian government, including tax authorities, Confederation of All India Traders (CAIT) added.

In 2018, WalmartInc had invested $16 billion for acquiring a 77 per cent stake in Flipkart. Last year, the US retail giant led a $ 1.2 billion funding round in the Indian e-commerce company.

CAIT noted that in 2019, Flipkart had created a two-tier model consisting of ADs and Diamond Sellers (DSs) and that currently, there are 20 DSs and 10 ADs in place.

These 30 entities were created for the sole purpose of granting control of inventory and prices to Flipkart, and to "act as an eye-wash and (to) distract the government from taking note of the wholly illegal activities" being undertaken by Flipkart and these entities, it alleged.

CAIT alleged that the ADs and DSs exist only for GST compliance and to service their arrangement with Flipkart and cede control for a minuscule cost.

From May 19 to 26, womenswear brand Amiraah and crafts retailer Sanatkada are running online fashion and lifestyle shopping fair ‘Karigari’ to support artisans across India.

Through Karigari, Amiraah wanted to make a real sustainable long-term impact and bring these artisans back on their feet. The brand will donate all proceeds from the online shopping fair to these artisans.

Products featured in the online shopping fair include marble work objects by Agra-based group Al Maun as well as a range of textiles and accessories. The fair is taking place on Sanatkada’s dedicated e-commerce store. The initiative is also designed to raise awareness about craftsmanship in India which is designed to lead to more long-term support for the artisans.