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Draft Ecomm Policy: Rules likely to be Released Together in the the near term

30 December 2021, Mumbai:

Move aimed at ensuring that both are in sync with each other, offer more clarity to the industry.

The government will soon circulate revised versions of the ecommerce policy and e-commerce rules to spell out comprehensive guidelines for all onll down the ground rules for online trade and ne transactions, covering all digital commerce and service providers, including marketplaces, ride-hailing companies ticketing and payment companies said people aware of the development.

The idea is that the two drafts will be released at the "Bringing out both (policy and rules)at the same time and be in sync with each other, reducing the scope for misunderstanding.

SOURCE: ET Dt 30-12-21 

(The news article has not been edited by DFU Publications staff)

 

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Draft Ecomm Policy: Rules likely to be Released Together in the the near term

Future group expected to make use of CCI order: Amazon India cases quashed

20 December 2021, Mumbai:

TWISTS & TURNS

The Competition Commission of India (CCI) on Friday suspended Amazon's 2019 deal with Future Group following a review of allegations that the US e-commerce giant had concealed information while seeking regulatory approval.

The unprecedented step taken by the CCI could have far-reaching consequences on Amazon's legal battles with now-estranged partner Future.

The US firm has for months successfully used the terms of its toehold $200 million investment in 2019 to block Future's attempt to sell retail assets to Reliance Industries for $3.4 billion.

Source: ET dt 20-12-2021 (The news article has not been edited by DFU Publications staff)

 

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Future group expected to make use of CCI order: Amazon India cases quashed

H&M Group’s sales in Q4'21 back at the same level as in 'Pre-Pandemic Levels'

18 December 2021, Mumbai:

H&M Group revealed that net sales in local currencies increased by 11% year on year in the fourth quarter of 2021, from September 2021 to 30 November 2021.

For the 2021 financial year, net sales increased by 12% in local currencies. Converted to Swedish Krona (SEK), net sales increased by 8% to SEK 57bn (£4.7bn) in the fourth quarter of 2021. For the full-year 2021 net sales increased by 6% to SEK 199 bn (£16.5bn).

Despite continued restrictions and the negative consequences of the pandemic, H&M Group’s sales in local currencies were back at the same level as in the fourth quarter of 2019. At the beginning of the quarter, around 100 stores were temporarily closed, mainly in South-East Asia. At the end of the quarter, around 115 stores remained temporarily closed, mostly in Austria and Slovakia.

H&M Group includes Cos, & Other Stories, H&M and Weekday.

(The news article has not been edited by DFU Publications staff)

 

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H&M Group’s sales in Q4'21 back at the same level as in 'Pre-Pandemic Levels'

H&M, India’s largest fast fashion brand reports 2020-21 results

24 December 2021, Mumbai:
Swedish fashion retailer Hennes & Mauritz (H&M) reported an 11% fall in sales in the year to March 2021, but still managed to retain its position as India’s largest fast-fashion brand.
H&M sales down 11%; still India’s largest fast-fashion brand. H&M posted sales at Rs 1,402 crore during 2020-21, down from Rs 1,582 crores crore in the year-ago, according to its latest filing.

The performance is in line with the overall trend within the apparel segment where rivals including Marks & Spencers, Shoppers Stop, Trent, Aditya Birta Fashion & Retail and Lifestyle International saw their revenues shrink and losses widen during the year.

 

ET (The news article has not been edited by DFU Publications staff)

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H&M, India’s largest fast fashion brand reports 2020-21 results

Amazon India-FRL case: Amazon Has 60 Days To Re-Appeal

18 December 2021, Mumbai:

Amazon has 60 days to re-appeal for approval with "true, correct, and complete information.

Till then, the order for approval for the 2019 Amazon-FRL deal "shall remain in abeyance", says CCI.

Amazon has few options, including appealing to a higher court or approaching NCLAT

In 2019, Amazon had acquired 49% in Future Coupons (FCPL), an unlisted Future Group entity, for 1,500 crores.

Since FCPL held aro 10% in Future Retail (Future Amazon claimed this gave it rights over the latter.

After the announcement of a Future-Reliance deal, Am dragged FRL to a Singapore arbitration court for alleged violation of contracts.

SOURCE: ET TOI dt 18-12-2021   (The news article has not been edited by DFU Publications staff)

 

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Amazon India-FRL case: Amazon Has 60 Days To Re-Appeal

Lifestyle International: It is not a sale It is Steal!

24 December 2021,  Mumbai:

Lifestyle, India's leading fashion destination for the latest trends, has announced its much-awaited 'SALE', which is live now. Customers shopping at Lifestyle Sale can find up to 50% off and many more exciting deals on the latest styles across top fashion brands.

Fashion shoppers can look at giving their wardrobes a stylish makeover as Lifestyle offers compelling discounts across categories for Men, Women, and Kids.

Customers can choose from Lifestyle's strong portfolio of brands like Forca, Ginger, Melange, Kappa, Code, Bossini, Fame Forever, Juniors, and more, as well as from a wide variety of leading brands like Vero Moda, Levi's, Puma, Loreal, Titan, Biba, ONLY, Louis Philippe, Tommy Hilfiger and more.

Make the most of the latest trends in Apparel, Beauty, Watches, Fragrances, Footwear, Handbags, and Accessories, as you get them all at irresistible offers and attractive prices.

The Lifestyle Sale will be valid across all Lifestyle Stores.

The WEEK  (The news article has not been edited by DFU Publications staff)

 

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DAILY NEWS:

  1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul
  2. Consumers will determine growth of sustainable fashion e-comm in India
  3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'
  4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22
  5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

 

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Lifestyle International: It is not a sale It is Steal!

CCI suspends Amazon India's 2019 deal with (FRL) Future group following a assessment of allegations of suppression of information

17 December 2021, Mumbai:

The Competition Commission of India (CCI) on Friday suspended Amazon's 2019 deal with Future Group following a review of allegations that the US e-commerce giant had concealed information while seeking regulatory approval.

The unprecedented step taken by the CCI could have far-reaching consequences on Amazon's legal battles with now-estranged partner Future.

The US firm has for months successfully used the terms of its toehold $200 million investment in 2019 to block Future's attempt to sell retail assets to Reliance Industries for $3.4 billion.

ET 

(The news article has not been edited by DFU Publications staff)

 

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CCI suspends Amazon India's 2019 deal with (FRL) Future group following a assessment of allegations of suppression of information

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