17 March 2022, Mumbai:

Vestiaire Collective, a resale powerhouse, and Tradesy, an online US resale platform, have chosen to merge, much to the benefit of all consumers and sellers. Both may now considerably expand the size and reach of their peer-to-peer marketplaces by working together.

"The united firm will have a membership community of 23 million, a catalog of 5 million goods, and a gross merchandise value over US $1 billion," Vestiaire Collective announced.

Sellers may now watch their items reach a bigger audience, both in the United States and throughout the world, assisting in the optimization of the entire sales process.

ALSO READ Boohoo, an online retailer opens, clothing testing facility

Specifically, purchasers will have access to a larger assortment of extremely coveted pre-owned fashion items.

As a result, the goal is to improve the shopping experience as well. Vestiaire Collective, which was founded in 2009, is the world's biggest authorized luxury resale site.

RELATED NEWS Zivame launches online sale event in partnership with Ananya Pandey

Tradesy, which was started in 2009, specializes in buying and selling women's clothing.

RELATED ARTICLE Mamaearth parent co: Wow! 1st unicorn of Indian Start Up universe in '22

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CREDITS: CISION & Apparel Resources.

15 March 2022, Mumbai:

The sale aims to empower MSMEs by providing over 15 crore GST (goods and services tax) enabled products across top categories at exciting prices.

Amazon Business, the marketplace on Amazon.in, to meet the business procurement needs of institutions, has for the first time started ‘End of Financial Year Sale’ in India.

ALSO READ: Amazon India targets $10 billion exports by 2025

The sale plans to engage MSMEs by giving over 15 crore GST (goods and services tax) empowered items across top categories at exciting costs.

Amazon Business, which rivals players like IndiaMart, udaan, Flipkart Wholesale and Reliance’s JioMart, caters to institutions, for example, medical clinics, facilities, producers, colleges, schools, NGOs, government bodies, and workplaces.

ALSO READ: Amazon India reaches ten lakh sellers

The sale event that started on Monday and which will run till March 18, is curated to help B2B customers discover relevant selections.

They also get incremental cashback and discounts on these purchases to save costs.

RELATED ARTICLE Amazon Fashion decides to hold "9th Edition of Wardrobe Refresh Sale Dec18-22"

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CREDITS:Business Standard Bolly Inside Knowledia (The news article has not been edited by DFU Publications staff).

16 March 2022, Mumbai:

Net sales in local currencies increased by 18 percent in the first quarter 2022, i.e., in the period 1 December 2021 to 28 February 2022, compared with the corresponding period last year.

Converted to SEK, net sales increased by 23 percent to SEK 49,166* m (40,060).

ALSO READ: H&M Group temporarily pauses all sales in Russia

* The amount is provisional and may deviate slightly from the three-month report, covering the period 1 December 2021 – 28 February 2022, that will be published on 31 March 2022.

Communication in conjunction with the three-month report.

The three-month report, i.e., 1 December 2021 – 28 February 2022, will be published at 08:00 CEST on 31 March 2022, followed by a telephone conference at 09:00 CEST for the financial market and media.

The telephone conference will be held in English, hosted by CEO Helena Helmersson, CFO Adam Karlsson, and Head of IR Nils Vinge.

RELATED ARTICLE H&M HOME arrives in India

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CREDITS: Cision (The news article has not been edited by DFU Publications staff).

15 March 2022, Mumbai:

According to the latest business survey by the industry body Retailers Association of India (RAI), the rise witnessed last month marks a growth of 6 percent compared to February 2020.

According to the latest business survey by the industry body Retailers Association of India (RAI), the rise witnessed last month marks a growth of 6 percent compared to February 2020.

ALSO READ: January retail sales restricted to 91 per cent of pre-pandemic levels: Retailers Association of India (RAI)

Retail businesses across regions have indicated growth in February 2022, with sales in West India growing 16 per cent against the same month last year, RAI said in a statement.

East India saw a growth of 4 per cent against the year-ago month, while North India grew 17 per cent as compared to February last year.

Similarly, South India also witnessed a growth of 4 per cent against February last year, it added.

Commenting on the findings, RAI CEO Kumar Rajagopalan said, “While the data shows that retail businesses are inching towards normalcy, we need to consider that the growth shown is not adjusted to inflation and the possibility is that some categories are yet to get back quantitative growth”.

RELATED ARTICLE Kumar Rajagopalan, CEO, Retailers Association of India (RAI): The emphasis on ‘Ease of Doing Business 2.0.’ a big plus for retail

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CREDITS: retail.economictimes Business Standard daily excelsior  (The news article has not been edited by DFU Publications staff).

17 March 2022, Mumbai:

FabIndia

Fabindia is an umbrella multi-category store brand with a unique ethnic, artisanal positioning across the categories of fashion, lifestyle, home décor.

Fabindia is a natural fit for global investors focused on environmental, social, and governance criteria, according to its chief financial officer.

“We are ESG in the way we operate in terms of connecting the artisans, the farmers,” Gopal Mishra said in an interview with Bloomberg News. “This is not that we have done something special for ESG or ticked those green boxes.” 

ALSO READ Fabindia and Hidesign opened their first joint location store in Chennai.

FabIndia Executive Vice Chairman William Nanda Bissell pointed to the New Delhi-based firm’s network of 40,000 artisans, spread across India’s villages and smaller towns, and said if FabIndia’s IPO is successful, it will serve as an example to other companies of how ESG is the wave of the future.

RELATED ARTICLE Fabindia to build new product portfolio for new international markets

The 66-year-old company is in talks with ESG funds and will make decisions on its investor lineup after the Indian stock market regulator clears its first-time share sale, Mishra said.

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CREDITS: Bloomberg ET (The news article has not been edited by DFU Publications staff).

16 March 2022, Mumbai:

Small business owners and entrepreneurs with a dream of selling their U.S. made, grown or assembled products to millions of customers now have their chance.

Today, Walmart announced the opening of the application period for its 9th annual Open Call event.

ALSO READ: Walmart to focus on Flipkart, PhonePe development

​​"We had a strategy when the year started before 2020 got interrupted. And it turned out that the tailwinds that were associated with retail furthered our strategy.

We have become more digital.

Our delivery business has grown globally, and our pickup business in some countries has really grown. Many of the things we had already started just really accelerated," Doug McMillon said.

Doug McMillon, CEO of Walmart Inc., spoke with ET's Bodhisatva Ganguli at the Economic Times Global Business Summit on a range of issues including the pandemic, rising inflation, the Ukraine crisis, prospects of a global economic recovery, and the US-based retail giant's investment in Flipkart.

RELATED ARTICLE Flipkart owned by Walmart: Rides on live commerce bandwagon

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CREDITS: Corporate Walmart ET  (The news article has not been edited by DFU Publications staff).

15 March 2022, Mumbai:

ABOUT Shoppers Stop

Shoppers Stop is home to a multitude of leading international and national brands for apparel, fragrances, accessories, cosmetics, footwear, home décor, and furnishings catering to the needs of the entire family.

We aspire to provide our customers with a memorable international shopping experience. We are one of the largest chains of department stores across India.

Fundamentally 'Beauty' is always been a key strategic growth engine/ pillar at Shoppers Stop.

ALSO READ: Shoppers Stop to open new department stores

About Jo Malone London

Jo Malone London joined The Estée Lauder Companies' family of brands in 1999 and is available in 69 countries and territories. Jo Malone London is a British lifestyle brand known for its unique fragrance portfolio and luxury products for the bath, body, and home.

Rewriting the rules of perfumery by mixing unexpected combinations of ingredients and providing elegant yet playful concepts where the scent is used with abandon, the world of Jo Malone continues to inspire a loyal following.

ALSO READ: Shoppers Stop posts net profit in Q3 FY22

Yesterday, Shoppers Stop has launched Mumbai's second Jo Malone London store at Jio World Drive, BKC. With the launch of this new store, Shoppers Stop now operates 4 Jo Malone London stores in India.

Through Shoppers Stop's partnership with Estee Lauder Group of Companies the brand operates stand-alone MAC Cosmetics, Estee Lauder, Clinique, Bobbi Brown, Jo Malone London, and Too Faced stores and websites.

RELATED ARTICLE Shoppers Footfalls down in past three days as Omicron wave hits

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CREDITS: Business Standard & Jo Malone London.

17 March 2022, Mumbai:

Zara owner Inditex (MC:ITX) reported on Wednesday its net profit more than doubled in 2021 to 3.2 billion euros ($3.51 billion) after its sales almost recovered from the pandemic as many countries eased the restrictions imposed to fight coronavirus.

But the world's biggest fashion retailer faces a challenge in the months ahead after it stopped trading in Russia, a major market.

ALSO READ: Russia at war: Zara closes stores & online platform in Russia

Most of Inditex's 6,657 stores worldwide were reopened from mid-2021 and the world's biggest fashion retailer's sales reached 27.7 billion euros, 36% more than in 2020 and close to pre-pandemic levels.

RELATED NEWS: A new 170,000m2 building to house the Zara sales and design teams within Inditex’s complex in Arteixo

Inditex shares tumbled on March 5 after the company closed its 502 shops and stopped online sales in Russia following its invasion of Ukraine and the imposition of Western sanctions.

Russia and Ukraine accounted for 5% of its sales growth in February-March.

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CREDITS: Investing.com RTE ET (The news article has not been edited by DFU Publications staff).

16 March 2022, Mumbai:

Future Retail Ltd's director Rahul Garg has resigned from the board, a regulatory filing by the debt-ridden company said on Tuesday.

"Rahul Garg, Non-Executive Director has resigned from the Board of Directors and other committees of the Board with effect from 14th March 2022," said Future group firm.

ALSO READ: Reliance issues sub-leased termination notices to Future Retail stores

The company appreciates his valuable contribution and support made during his tenure as Director of the Company, it said.

RELATED ARTICLE RIL to buy Future Group’s retail assets at original price

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CREDITS: ET Deccan Herald (The news article has not been edited by DFU Publications staff).

15 March 2022, Mumbai:

Sebi fines Future Ent for non-disclosure.

Markets regulator Sebi has slapped a Rs 5- lakh penalty on Future Enterprises for the delay in disclosing to its shareholders that Amazon had initiated an ar bitration proceeding against Future Group, the promoter of the Indian entity after its promoters signed a deal with Reliance Industries for the takeover of the company.

ALSO READ: RIL to buy Future Group’s retail assets at original price

Sebi, however, couldn't quantify the extent of the loss to investors due to this non-disclosure.

RELATED ARTICLE Future Group refuses to implement Amazon’s investment in Future Coupons

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CREDITS: TNN & ET dt 15-03-2022 (The news article has not been edited by DFU Publications staff).