All Stories

CAIT files petition before CCI: Seeking to block Amazon's deal to pick up Cloudtail 100% shareholding

 

17 January 2022, Mumbai:

Domestic traders' body the Confederation of Indian Traders Association (CAIT) has filed a fresh petition before the Competition Commission of India (CCI) to block the acquisition of Cloudtail India by Amazon Asia Pacific.

Last month e-commerce giant announced its plans to take full control of Cloudtail - the largest seller on its platform. It had approached the CCI for approval to acquire Narayana Murthy-led Catamaran Ventures stake in Prione which operates Cloudtail.

Cloudtail India Private Limited | LinkedIn

In its prayer to the commission CAIT said, "Pass an order blocking or keeping in abeyance the proposed combination of acquisition of Prone Business Services Pvt Ltd by Amazon Asia Pacific Resources Pvt Ltd in C-20210120893 till pendency of Case no. 40/2019".

ET

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

 

Stay Updated. 

 

Subscribe to our newsletter.

 

Follow us on Linkedin & Youtube

 

 

Latest News: TOP 15 News

 

CAIT files petition before CCI: Seeking to block Amazon's deal to pick up Cloudtail 100% shareholding

As the third wave of Covid-19 sweeps across India, fashion events and trade exhibits have been postponed

15 January 2022, Mumbai:

With the spread of Omicron across India, a flood of fashion and jewellery trade exhibits and events have been cancelled, just as many event firms had only lately resumed their schedules.

Many jewellery fairs, both consumer and business-to-business, were scheduled for January and February in preparation for the forthcoming wedding season, when fine jewellery is generally in high demand. However, due to Covid-19 worries, events like the Jewellery Show of India, which was planned to take place in Bengaluru from January 14 to 16, have been postponed.

Owing to safety concerns, some events have elected to postpone their forthcoming editions, while others have been forced to do so due to local rules. A weekend and evening curfew in Delhi implies that any weekend or evening gatherings are immediately postponed, and similar laws exist in other states, as well as limits on the number of people who can congregate in one spot.

Can Fashion Trade Shows Survive the Pandemic? | BoF

The organisers of the Home and Personal Care Ingredients Exhibition and Conference, which was scheduled for January 27 to 28, recently stated that it has been postponed owing to the pandemic for safety considerations. The Cosmohome Tech Expo, which was slated to take place in Mumbai from February 3 to 4, has also been postponed.

In several regions, business-to-customer retail events are also being postponed. The Haat, a fashion event that introduces new audiences to Indian designers, has postponed its January Raipur and Kolkata editions, according to a Facebook announcement.

"In the light of the recent coronavirus epidemic in Kolkata and Raipur, the government has issued an advice prohibiting mass assembly in public locations," according to a statement from The Haat.

"As soon as the issue is under control, we will notify you of the future dates." Because shopping events like The Haat focus on emerging and smaller businesses, a delay of shopping fairs may compound the financial challenges that these labels are already facing.

 

Stay Updated. 

Subscribe to our newsletter.

 

Follow us on Linkedin & Youtube

 

 

Latest News: TOP 15 News

 

As the third wave of Covid-19 sweeps across India, fashion events and trade exhibits have been postponed

The India Pavilion at Expo 2020 in Dubai honours Indian enterprises and entrepreneurs

11 January 2022, Mumbai:

The India Pavilion at Expo2020 in Dubai has completed 100 days of exhibiting a variety of Indian cultures and businesses, with 740,356 visits as of January 8. Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles Piyush Goyal tweeted, "100 magnificent days of the India Pavilion glowing brilliantly at Expo2020 Dubai."

"The world is watching #IndiaAtDubaiExpo as a centre of innovation, growth, and opportunity." Visit the Pavilion to take part in a great celebration of India's development."

Construction of The India Pavilion Starts at the Dubai Expo 2020

The Indian Pavilion at Expo2020 in Dubai opened on October 1, 2021, and the pavilion's organisers recently announced the commencement of 'Jammu & Kashmir (J&K) week' and 'Tourism week' in the area.

The goal of J&K Week is to promote the region's culture and specialty products. Jammu & Kashmir Union Territory Lieutenant Governor Manoj Sinha has met with international investors as part of an effort to portray J&K as a place with a plethora of business prospects in order to improve the state's exports.

Along with Bollywood celebs Deepika Padukone, Janhvi Kapoor, and Jaaved Jaaferi, fashion designer Manish Malhotra paid a visit to the pavilion as part of its promotional efforts.

The India Pavilion will involve participation from states like Goa, Jharkhand, Kerala, and Tamil Nadu in the following weeks. Textiles, the ecology and sustainability, and tribal concerns will all be highlighted at the pavilion.

Expo2020 is a worldwide exhibition that was supposed to open in 2020 but had to be postponed because to Covid-19. For marketing considerations, the organisers elected to preserve the moniker Expo2020 and held the event in October 2021. The exhibition will be open until March 2022.

 

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. 

Subscribe to our newsletter.

The India Pavilion at Expo 2020 in Dubai honours Indian enterprises and entrepreneurs

Future Retail's Recovery Process: Lenders look to sell small stores

15 January 2022, Mumbai:

Lenders of Future Retail are likely to seek buyers for the small-format stores to recover dues amounting to Rs 3494.5 crore after the Kishore Biyani promoted hypermarket failed to honour payments scheduled on 31 December, said two people aware of the matter.

Big Bazaar - Wikipedia

Banks led by the State Bank of India may soon invite expressions of interest for the small format chains - Easyday in Northern India and Heritage Fresh in Southern India, they said.

The lenders may take this step since the account would be classified as a non-performing loan if the payment does not come through during the grace period that ends on January 30 as per the one-time restructuring scheme signed between them and Future Retail in April 2021.

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

 

Stay Updated. 

Subscribe to our newsletter.

 

Follow us on Linkedin & Youtube

 

 

Latest News: TOP 15 News

Future Retail's Recovery Process: Lenders look to sell small stores

Reliance Industries Ltd (RIL): Corporate Double down on Gujarat with mega projects

14 January 2022, Mumbai:

RIL to back green energy with 6L crores

Create 10L jobs

The Mukesh Ambani-led Reliance Industries (RIL) signed an MoU on Thursday with the Gujarat government for a total investment of Rs 5.95 lakh crore as part of promotional activity for Vibrant Gujarat Summit 2022.

Reliance Industries - Wikipedia

These projects will create 10 lakh direct and indirect employment, opportunities in the state, the company said.

RIL, will invest another Rs 60,000 crore in setting up new energy manufacturing integrated renewable facilities including solar PV module (for the manufacture of polysilicon. wafer cell & module), electrolyzer, energy-storage battery, and fuel cells. Additional investments to the tune of Rs 25,000 crores will be made by RIL.

Reliance Retail to invest Rs 3,000 crores over next 5 years.


SOURCE: TOI dt 14-01-2022 

 

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. 

Subscribe to our newsletter.

Reliance Industries Ltd (RIL): Corporate Double down on Gujarat with mega projects

Future Group Informs SC: Can't Raise Funds From Amazon

12 January 2022, Mumbai:

Co requests SC to allow it to proceed with RIL deal

Top court reserves ruling in the case

The Future Group told the Supreme Court that it cannot take money from Amazon to bail itself out of a precarious financial situation, as Indian regulations are not conducive for foreign investment in multi-brand retail.

Legal Wrangle

German Translation of “legal” | Collins English-German Dictionary
Future Group urged SC to let it get nod from shareholders, CCI, and NCLT for the RIL deal.

Source: ET dt 12-01-2022

 

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. 

Subscribe to our newsletter.

Future Group Informs SC: Can't Raise Funds From Amazon

TAKE ACTION AGAINST MCX, NYCE SPECULATORS, URGE COTTON STAKEHOLDERS

13 January 2022, Mumbai:

Stakeholders in the Indian cotton industry have urged the Central government to take immediate action against MCX and NYCE speculators for hedging and trading of Cotton Kapas.

In a letter to the Prime Minister, R C Jain, Chairman, TT Ltd writes, Piyush Goyal, Union Minister of Textile and Railways had called a stakeholders’ meeting in November to discuss the issue of hike in cotton prices despite an unprecedented yield this year.

Unauthorized speculation a worry

The meeting had concluded price rise is mainly a result of the unauthorized speculation indulged in by MNC hoarders and Indian speculators for monetary gains at the cost of entire textile industry in India. Price rise had halted cotton exports for a few weeks in November. Export of garments and all other accessories also are badly affected due to the new Omicron and COVID waves.

Stakeholders have questioned the government’s failure to include cotton in the list of banned agricultural commodities for hedging and trading on MCX and NYCE to stop speculations on cotton prices.

The hedging and trading on MCX and NYCE have led to 80 per cent rise in cotton prices in the last three months and still continues to rise, stakeholders say.

India Take action against MCX NYCE speculators urge cotton

Any failure to take action against these activities by the government may lead to halt in power, hosiery and apparel industry activities in the country, they add. Jain has urged the PM to take immediate action to stop hedging and trading of Kapas and cotton by speculators on MCX and NYCE.

 

Subscribe to our newsletter.

 

Follow us on Linkedin & Youtube

 

TAKE ACTION AGAINST MCX, NYCE SPECULATORS, URGE COTTON STAKEHOLDERS

Azim Group Increases Planning Efficiency by 15% with Coats Digital’s FastReactPlan

12 January 2022, Mumbai:

Other benefits realised include: 97% faster order confirmation; reduced report generation time-saving of 68% and a factory efficiency improvement of 7%.

 Coats Digital is delighted to announce that following the implementation of Coats Digital’s FastReactPlan solution, pioneering Bangladesh garment manufacturer, Azim Group, has realised a 15% improvement in planning efficiencies and a 97% faster turnaround in order confirmation – with orders being confirmed in just 30 minutes instead of two days.

Established in 1975, Azim Group produces garments for leading brands in the United States, Europe, Asia and South America. Its clients include CK Jeans, Berksha, Walmart, Kohl’s, Perry Ellis, Elcorte Ingles, Land’s End and Falabella.

Prior to implementing FastReactPlan, capacity management and line planning teams lacked the pinpoint accuracy required to respond to the buyer’s latest changes. As a result, additional effort and regular reviews were needed with merchandising to ensure all teams had a unified approach to delivery. With important information siloed in multiple sources across email, Excel spreadsheets and over phone conversations, manual planning processes proved time-consuming and inefficient. Based on insufficient data, capacity was often overbooked or under-booked, causing late deliveries and unnecessary rejection of new orders.

Mr Ehsan Islam, Operations Manager, Azim Group said: “Since the implementation of FastReactPlan, it was crucial that we saw consistent improvements in our planning process. I am pleased to say that we were successful in achieving this. In the first year, our planning efficiency improved by 15% and will continue to improve going forward.

Furthermore, the new system has helped streamline key processes such as order confirmation, capacity forecasting and line allocation – providing more accurate results compared with previous methods. Ultimately, the improved efficiency is reflected in higher growth in our business.”

Azim Group now has all relevant information available in one platform, ensuring comprehensive data transparency and visibility across merchandising and planning processes, so that teams can update and respond to new information in an agile way.

Now that minutes-based load vs capacity monitoring has also been accurately established on true actual line plans, merchandising and planning teams can establish accurate plan-based capacity reports within minutes, guaranteeing a realistic capacity status, with timely warning alerts, to avoid overbooking or under-booking scenarios. 

Mr Farhan Azim, Deputy Managing Director, Azim Group explained: Following the implementation of FastReactPlan, we started seeing positive results quickly. These are improvements across major KPI parameters including factory efficiency, planning efficiency, on-time-delivery and on-time T&A completion. Moreover, the new system can process data much faster than the tools traditionally used in the RMG industry. Thus, it enables management to make more informed, data-driven strategic and financial decisions.”

With production plans made mostly at the style or even the PO level, a series of time-consuming drill-down meetings were often required to iron-out potential problems and ascertain the fastest remedy.  Re-plan changes were consequently difficult to apply quickly, resulting in late deliveries and confusion with regards Work in Progress (WIP) reporting and Time & Action (T&A) prioritisation.

Target setting using average efficiency assumptions, not only lead to inaccurate capacity forecasting, but also unrealistic delivery projections and the inability to respond to customer demands for quicker order confirmation.

Since implementing FastReactPlan, standardised PO, colour and delivery level visibility is now available across all departments, establishing one version of the truth throughout the business and a single source of all information for better-informed decision making.

All departments are now using FastReactPlan to create accurate, real-time reports and daily activity priorities, including KPIs, all of which are readily available for all departments to see.  As a result, Azim Group has saved nearly six Person Days per month in time efficiencies – a 68% time-saving in report generation.

Mr. Istiak Mohammad Rana, Manager - IT & Communications, Azim Group said: “The FastReactPlan team understood the technological gap we previously faced in our planning process and were successful in providing us with required solutions. The end result is a customisable and visual system which is easy to operate for non-technical individuals.

The system takes real-time data and is able to auto-generate many key reports, hence saving person hours and improving overall efficiency of all concerned departments.”

Realistic plan targets, factoring in robust efficiency targets by product type, learning curve requirements and the production line’s performance have also helped to significantly increase efficiency and reduce last-minute firefighting. Factory efficiency has consequently improved by 7%; whilst Cut to Order, Ship to Order and Cut to Ship efficiencies have also improved by 0.37%, 0.89% and 1.36%, respectively.

Ashraful Alam Chowdhury, Senior Implementation Consultant, Coats Digital, said: “The FastReactPlan team understood the technological gap we previously faced in our planning process and were successful in providing us with required solutions. The end result is a customisable and visual system which is easy to operate for non-technical individuals.

The system takes real-time data and is able to auto-generate many key reports, hence saving person hours and improving overall efficiency of all concerned departments.”

 

Subscribe to our newsletter.

 

Follow us on Linkedin & Youtube

 

 

Azim Group Increases Planning Efficiency by 15% with Coats Digital’s FastReactPlan

Amazon.com Inc and India's Future Group bitter legal tussle with no end in sight

For more than a year, com Inc and India's have been locked in a complex legal stand-off that has stalled Future's $3.4 billion sale of assets to the U.S. firm's rival - with no end in sight.

Amazon Vs Future Retails- Delhi High Court Rejects Future Retails's Plea  For Interim Injunction Against Amazon-Read Order

Here's what the dispute, seen as key to deciding who gets an upper hand in one of the world's fastest-growing retail markets, is all about.

WHAT TRIGGERED THE DISPUTE?

In 2019, and Future, the number two player in India behind market leader Reliance, became business partners when the U.S. company invested $200 million in a gift voucher unit of the Indian group.

BUSINESS STANDARD 

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

 

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. 

Subscribe to our newsletter. 

Amazon.com Inc and India's Future Group bitter legal tussle with no end in sight

ABFRL in India and GIZ in Germany have teamed up to improve circular business practises

13 January 2022, Mumbai:

Aditya Birla Apparel and Retail Limited (ABFRL), India's largest fashion manufacturer, is working with Germany's GIZ to improve its circular business processes.

The Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH is a government-owned company with activities all over the world. It backs the German government's efforts in the areas of international development cooperation and international education.

Material innovation, minimising dangerous substance inputs, enhancing textile-to-textile recycling, creating alternatives to plastic packaging, and encouraging traceability will be emphasised areas of collaboration, according to a joint statement from ABFRL and GIZ.

Aditya Birla Fashion And Retail To Buy 51% Stake In House Of Masaba  Lifestyle

This project is part of the 'develoPPP programme,' and it is being carried out on behalf of the German Federal Ministry for Economic Cooperation and Development by ABFRL and GIZ (BMZ). It will complement existing company strategies such as downcycling, recycling, and reusing, as well as introduce new sustainable manufacturing techniques.

ABFRL and Indian industry players would be able to exploit circular business practices and embrace complicated procedures that are technically better and consumer friendly with the help of GIZ, according to the statement. This will aid the industry's ability to balance supply and demand, which has been hampered by resource restrictions.

"There is a need to self-disrupt' present' methods and migrate to a more circular strategy," stated Ashish Dikshit, MD, ABFRL. Promoting a shared understanding is therefore critical for the whole textile sector in India's long-term growth. We hope to raise awareness among key stakeholders, working with GIZ, to promote circular methods, decrease waste, and establish closed-loop systems.``

"The partnership with ABFRL has significant potential to assist enhance the sustainability of the Indian textile sector," said Ashish Chaturvedi, GIZ India Director Environment, Climate Change, and Natural Resource Management.

Combining the strengths of both public and private partners, in our perspective, is a win-win situation, as it may provide both developmental and commercial advantages to the local community."

 

Subscribe to our newsletter.

 

Follow us on Linkedin & Youtube

 

ABFRL in India and GIZ in Germany have teamed up to improve circular business practises

Oeko-Tex has released a new impact calculator for the textile sector

12 January 2022, Mumbai:

Oeko-Tex® has introduced a new 'impact calculator' for the textile and leather sectors, which is made up of 17 independent research and testing institutions in Europe and Japan.

Individual production sites may use the new impact calculator to determine the most serious effects of CO2 emissions and water usage, set reduction goals, and exchange statistics on carbon and water footprints.

In addition, Oeko-Tex® will provide RESPONSIBLE BUSINESS by Oeko-Tex®, a new corporate due diligence certification.

Textile industry gives thumbs up to budget 2020-21 - Fibre2Fashion

In addition, the Oeko-Tex® Association has announced adjustments to test criteria, limit values, and certification requirements for the next year.

All new regulations will take effect when the transition period concludes on April 1, 2022. The impact calculator was created by Oeko-Tex® to stimulate progress and data exchange throughout the global supply chain.

The application assesses the carbon and water footprints of each process step, as well as the entire process and one kilogram of material or product.

According to Georg Dieners, Secretary-General of Oeko-Tex®, openness is essential for assessing and reducing greenhouse gas emissions and water usage in supply chains.

The principle of offering specific answers to the industry's issues has driven Oeko-Texyears ® 's commitment to enterprises and customers. Oeko-Tex® continues to develop scientific solutions and digital platforms to help their clients regulate processes in terms of environmental and social consequences. The incorporation of CO2 emissions and water consumption guidelines is a sensible step toward more transparency.

 

Subscribe to our newsletter.

 

Follow us on Linkedin & Youtube

Oeko-Tex has released a new impact calculator for the textile sector

Latest Publications

Image