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After Tommy Hilfiger, Calvin Klein, BMI to sell FCUK
After Tommy Hilfiger, Calvin Klein, BMI

The brave and bold four-lettered logo, embossed on the collarless tee, now needs a new patron in India as FCUK’s existing licence holder is looking beyond French Connection for fresh ideas in fashion. "The Murjani Group is trying to sell the FCUK business in India. It will either sell completely or find a strategic investment for the business," said a

February 24, 2017  |  comments ( 0 )  | 

LG Electronics to introduce more India-specific products
LG Electronics to introduce more

LG Electronics will re-enter the low-cost smartphone segment in India by July-August as it aims to get more market share by volume in India, about 70 per cent of which is made up of phones in the sub-Rs 10,000 categories. The company will introduce more India-specific products from now on rather than replicating globally successful models in the country. The Korean consumer durables giant is aiming at double-digit growth in overall revenue in

February 24, 2017  |  comments ( 0 )  | 

DMart IPO buzz brings a windfall for retail stocks
DMart IPO buzz brings a windfall for

Shares of listed retail companies are riding the wave of an impending initial public offer (IPO) by Avenue Supermarts -the owner of DMart chain of stores. DMart, promoted by leading equity investor RK Damani, has whipped up a frenzy in the grey market where its shares are quoting at 25-50% premium to the expected IPO price. This has sparked investor interest in nearly a dozen listed firms involved in either single or multi-brand retail, driving

February 24, 2017  |  comments ( 0 )  | 

MobiKwik to invest Rs 300 crore on acquiring merchants
MobiKwik to invest Rs 300 crore on

Digital wallet MobiKwik, run by One Mobikwik Systems Pvt. Ltd, will invest Rs 300 crore this year on acquiring merchants and users, as it looks to increase its share in the highly competitive payments market. Nearly Rs 50 crore is being invested to set up 13 offices and hire over 1,000 employees, said Daman Soni, MobiKwik's vice president for growth, in a media statement. Soni added, ""By December 2017, the plan is to have 150

February 24, 2017  |  comments ( 0 )  | 

Myntra aims to curate 25 to 30 Mango stores over the next 5 years
Myntra aims to curate 25 to 30 Mango

Myntra has announced that it has been awarded the master distribution and management rights for the Spanish fast fashion brand Mango in India; making it the first e-commerce player globally to manage the omni-channel strategy for a global fashion brand. As a part of this arrangement t, Myntra plans to curate and facilitate 25 – 30 Mango stores as well as list the brand exclusively on Myntra and Jabong, in association with select retail

February 23, 2017  |  comments ( 0 )  | 

Snapdeal to put FreeCharge on sale to Naspers
Snapdeal to put FreeCharge on sale to

Once a success story of the burgeoning start-up ecosystem, Gurgaon-based online marketplace Snapdeal has said it would cut more jobs, stop paying its founders and sell its digital wallet FreeCharge. Co-founder Kunal Bahl, in an email to employees has finally accepted tough decisions— including letting go of people and a full pay cut for him— are being taken. It has also put on sale FreeCharge and is in talks with Naspers, the South

February 23, 2017  |  comments ( 0 )  | 

Myntra to invest in 15-20 brands with Brand Accelerator programme
Myntra to invest in 15-20 brands with

Flipkart-owned fashion retailer Myntra plans to invest in and forge strategic partnerships with at least 15-20 local fashion brands as part of its new accelerator programme and is simultaneously looking to bring more international brands to its marketplace this year, a top company executive said. Myntra, which launched its Brand Accelerator programme in December last year, has set an ambitious target of generating a valuation of about $500

February 23, 2017  |  comments ( 0 )  | 

Yepme launches uk.yepme.com to service customers across UK
Yepme launches uk.yepme.com to service

Yepme has announced its plan to expand into Europe. The company has launched uk.yepme.com to service customers across UK. The brand footprint is also being extended beyond its own webstore across Europe through presence in a large online marketplaces in the UK, Germany, Italy, France and Spain. More than 2000 products have gone live. The Campaigns have been shot in the fashion capitals of world namely London, Paris and Los Angeles. The fashion

February 23, 2017  |  comments ( 0 )  | 

Snapdeal reports a 50% overall increase in the sale of GM products
Snapdeal reports a 50% overall increase

Snapdeal, India's one of the largest online marketplace, shared annual sales trends for its general merchandise category, for the period January 2016-2017. The company reported a 50 percent overall increase in the sale of GM products, with maximum contribution coming from the home and kitchen categories. One clear trend that emerges from the data is an increasing affinity for products that are not just energy efficient, but also that support

February 22, 2017  |  comments ( 0 )  | 

Air India to raise USD250 million by putting two Dreamliners on sale
Air India to raise USD250 million by

State-owned carrier Air India has put on sale two more Dreamliners (Boeing 787-800) to raise USD250 million (nearly Rs 1,700 crore) for the repayment of short-term loan availed earlier for purchasing these planes. The airline would also lease back these two Boeing 787-800s under an operating lease for a period of up to 12 years with a three-year extension option, the airline said in its Invitation of Offers document. These two aircraft were

February 22, 2017  |  comments ( 0 )  | 

Alibaba's Ant Financial aims to expand its global reach
Alibaba's Ant Financial aims to expand

Alibaba's payment affiliate Ant Financial will invest USD200 million in a unit of South Korean messaging giant Kakao, the companies said, the Chinese firm's latest step to expand its global reach. The investment in Kakao Pay comes less than a month after Ant bought US-based payments operator MoneyGram for around USD 880 million and struck a partnership deal with Thailand's Ascend Money in November. Ant is behind Alipay, which

February 22, 2017  |  comments ( 0 )  | 

Flipkart to draw massive investments from Microsoft, eBay and Tencent
Flipkart to draw massive investments

India's one of the largest online retailer, Flipkart is in talks to raise up to massive USD1.5 billion from investors including Microsoft Corp., eBay Inc., PayPal Holdings Inc. and Tencent Holdings Ltd at a valuation of USD10-12 billion, as per the reports. Flipkart, which also owns the fashion retailers Myntra and Jabong as well as payments app PhonePe, initially wanted to raise anywhere between USD500 million and USD1 billion but is now

February 22, 2017  |  comments ( 0 )  | 

Apple follows Amazon Echo's footstep on Siri-powered speaker
Apple follows Amazon Echo's footstep on

US tech giant Apple is reportedly working on Siri-powered speaker just like Amazon Echo -- an artificial intelligence (AI)-based speaker that can be controlled by voice. "The future goal of the technology is to utilise Siri as an 'omnipresent AI assistant across devices' rather than have a central hub," appleinsider.com reported. The Siri-controlled device would likely carry out the same tasks that the personal digital

February 22, 2017  |  comments ( 0 )  | 

Laura Ashley to foray India with Future Group
Laura Ashley to foray India with Future

 As per leading media reports Kishore Biyani led Future group has tied-up with UK clothing and homeware retailer Laura Ashley that runs about 450 stores globally and Future will have exclusive rights to make and sell merchandise as well as wholesale distribution in India. While Laura Ashley, which was well known in the 1980s for its floral dresses, has a clothing line as well, Future Group has signed the licensing

February 21, 2017  |  comments ( 0 )  | 

ZOPO expands with an aggressive strategy for Vidharbha
ZOPO expands with an aggressive strategy

Zopo Mobile also known as Shenzhen ZOPO Communication Equipment Co., Ltd., headquartered in Shenzhen (P.R.C.) and established in 2008 has forayed capital of Maharashtra.   “Our Nagpur Circle (Vidharbha) will start with distribution in 11 districts of Nagpur namely Amravati, Akola, Chandrapur, Yavatmal, Gondia, Bhandara, Wardha, Wasim, Budhana, Pusad and Gadchiroli. With this we plan to provide the latest Smartphones to

February 21, 2017  |  comments ( 0 )  |