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H&M: To buy back own shares for SEK 3 bn

30 June 2022, Mumbai:

The board of directors of H & M Hennes & Mauritz AB has decided to utilise the authorisation granted by the 2022 annual general meeting to acquire the company’s own B shares in order to transfer capital to the shareholders and adjust the company’s capital structure.

The share buyback programme will be carried out in accordance with the EU Market Abuse Regulation (MAR) and Commission Delegated Regulation (EU) 2016/1052 (the so-called Safe Harbour Regulation).

ALSO READ  H & M Hennes & Mauritz AB: 3-month report

Acquisitions of shares will be managed by an investment firm or credit institution that makes its trading decisions regarding the timing of the acquisitions of H&M’s shares independently of H&M. In conjunction with the full-year report for 2021 the board of H&M communicated its intention to buy back shares for a total of SEK 3 billion in the period up to the 2023 annual general meeting.

The board has now decided to repurchase shares for this amount. The purpose of the purchases is to distribute surplus liquidity and thereby adjust H&M’s capital structure by reducing its capital.

Accordingly, the board of directors intends to propose to the 2023 annual general meeting that the repurchased shares are cancelled. It is intended that the reduction in share capital will be met by a corresponding bonus issue so that the level of share capital is restored.

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H&M: To buy back own shares for SEK 3 bn

Raymond's Ethnix: Expands Retail Footprints

27 June 2022, Mumbai:

Ethnix by Raymond has expanded Retail Footprints with the flagship store launch at Ajmal Khan Road, Karol Bagh in the Delhi, NCR.

The store is home to the latest collection including a wide range of ethnic wear like kurtas, sherwanis, bundis, and bandhgalas.

ALSO READ  Ethnix by Raymond opens largest flagship store in Delhi

The brand is optimistically envisaging consolidating its offline retail presence by opening multiple Pan-India stores across the country during the current FY.

CREDITS: Fashion Network

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Raymond's Ethnix: Expands Retail Footprints

Levi's: New store opens @ Oberoi Mall in Mumbai

28 June 2022, Mumbai:

*Levi’s launches its largest-sized store within an Indian mall to date in Mumbai’s Oberoi Mall. The retail space has a unique feature having a customisation area where shoppers can personalise their Levi’s clothing.

Not only do our brands share a common goal to always delight and inspire fans, but we also have a shared commitment to creating quality and timeless designs for all.

ALSO READ Levi's: Amisha Jain to lead SA, Middle East & Africa

“Levi’s® remains a leader in denim and casual lifestyle apparel because of our ability to create deep connections with consumers and a frictionless shopping experience that fits with their everyday lives,” said Seth Ellison, EVP, chief commercial officer, and interim Levi’s® brand president.

CREDITS: *Fashion Network

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Levi's: New store opens @ Oberoi Mall in Mumbai

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