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Online grocery Store BigBasket To Invest Rs 500 Cr
Online grocery Store BigBasket To Invest

Online grocery store BigBasket expects to spend up to Rs 500 crore to strengthen its technology and back-end farmer supply chain as it looks to more than double its customer base to 20 million by 2020. Hari Menon, co-founder and CEO of BigBasket said “We are focusing significantly on strengthening our back-end farmer supply chain programme called Farmer

January 22, 2018  |  comments ( 0 )  | 

FranGlobal Eyes USD 100 Million Investments From Gulf Investors
FranGlobal Eyes USD 100 Million

Franchise India's international arm FranGlobal is seeking over USD 100 million (about Rs 638 crore) investments from investors in the GCC countries by the end of next fiscal for its portfolio of over 20 brands. FranGlobal helps Indian firms set up operations outside the country and also helps scale up brands which already have presence outside India. FranGlobal CEO Venus Barak said “We are focusing on brands from different sectors such

January 22, 2018  |  comments ( 0 )  | 

Grasim Industries Gets Green Nod For Expansion Project
Grasim Industries Gets Green Nod For

Grasim Industries has received green nod for expanding the production of manmade fibre VSF at Bharuch, Gujarat that would entail an investment of Rs 2,560 crore. The company has four VSF (Viscose Staple Fibre) plants in India, of which two are located in Gujarat, one each in Kharach and Vilayat in Bharuch district. In a letter issued to the Grasim Industries, the Union environment ministry has said it has given the environment clearance to the

January 22, 2018  |  comments ( 0 )  | 

Organized Retail In India Will Rise To 10% In Next Two Years-CRISIL
Organized Retail In India Will Rise To

With the cabinet's approval of 100 percent FDI in single-brand retail via automatic route being welcomed by many key stakeholders in the industry, in a big push to the sector, a recent report by CRISIL has suggested that organized retail in India will rise to 10% in the next two years. The rating agency in its latest report expects the market share of organized retail to grow by 3%, a significant increase from 7% in the last fiscal. Further,

January 22, 2018  |  comments ( 0 )  | 

Liberty Shoes To Add 50 More Stores  By Next Year
Liberty Shoes To Add 50 More Stores By

Footwear firm Liberty Shoes is looking at opening about 50 stores over the next one year as part of expansion plans and targeting annual revenue of Rs 1,000 crore by 2020. The company, which has about 12 sub-brands in its portfolio, is planning to introduce some new varieties in footwear products and mulling stepping up its retail presence. The company's current annual revenue stands at about Rs 600 crore. Besides, Liberty Shoes is also

January 22, 2018  |  comments ( 0 )  | 

Future Group In Talks To Acquire Grocery Retailer FoodWorld Supermarkets
Future Group In Talks To Acquire Grocery

Future Group is in advanced talks to acquire grocery retailer Food world Supermarkets, a deal that could give Kishore Biyani sway over a network of nearly 150 grocery, beauty and personal care stores in southern India, according to several people with knowledge of the matter. The supermarket chain was started nearly two decades ago as a division of Spencer & Co. part of the RPG Group, but became a separate company in 1999. It is now owned by

January 22, 2018  |  comments ( 0 )  | 

Oneplus Opens First Offline Store In Mumbai
Oneplus Opens First Offline Store In

Chinese smartphone maker OnePlus announced the launch of its first "OnePlus Authorised Store" in the country. Vikas Agarwal, General Manager, OnePlus India said “The new 'OnePlus Authorised Store' is designed to complement our online first business strategy and also attract new users, while serving as a destination for our fast-growing community to experience and purchase OnePlus products”. The store is part of the

January 22, 2018  |  comments ( 0 )  | 

Birla Cellulose Expands Its Global Outreach With The Launch Of New York Design Studio
Birla Cellulose Expands Its Global

Aditya Birla Group's Birla Cellulose has launched its premier international design studio in New York, USA.  At the opening ceremony, Rajeev Gopal, the Chief Marketing Officer of Grasim Industries Limited, a flagship company of Aditya Birla Group said that "It is a historic moment for all of us at Birla Cellulose as we embark on this new journey. Birla Cellulose design studio will offer a one stop solution for brands in the

January 22, 2018  |  comments ( 0 )  | 

E-Commerce Republic Day Sale Kicks Off From January 21
E-Commerce Republic Day Sale Kicks Off

All major e-commerce platforms like Amazon India and Flipkart commence their sales from Sunday (January 21) offering various deals and huge discounts across various categories. While Amazon India begins its "Great Indian Sale" on January 21-24 with over 160 million products across various categories including big brands at discounted prices, e-commerce giant Flipkart also launched its three-day "Republic Day Sale" on January

January 22, 2018  |  comments ( 0 )  | 

Flipkart And Amazon To Offer Up To 80% Discount In First Sale Of 2018
Flipkart And Amazon To Offer Up To 80%

Top e-commerce players Amazon India and Flipkart are deepening their range of offerings at extreme discounts in the first online sale of the year starting today. While Amazon's Great Indian Sale will go on till January 24, Flipkart's Republic Day sale will shut shop earlier. With e-commerce becoming the default shopping choice for many, this season - last the previous editions will see an influx of shoppers logging in to tap the

January 22, 2018  |  comments ( 0 )  | 

Louis Vuitton India Profit Rises By 50% In FY17
Louis Vuitton India Profit Rises By 50%

LVMH Moet Hennessy Louis Vuitton, the world's biggest luxury goods company, posted over 50 per cent jump in profit in its retail store business in India in the financial year end March 2017, overcoming demonetisation and a clampdown on black money, which were expected to dampen sentiment in the sector. LVMH, which sells luxury handbags, fashion and other leather goods and perfumes and cosmetics, reported a profit after tax of over Rs 8

January 20, 2018  |  comments ( 0 )  | 

Godrej Agrovet Acquires Stake In Israeli Bio Tech Firm Maxximilk
Godrej Agrovet Acquires Stake In Israeli

As per a stock market disclosure, Godrej Agrovet Ltd, the agri-business subsidiary of Godrej Industries Ltd, has bought a majority stake in Israeli bio-tech firm Maxximilk Pvt Ltd, The company said it has picked up 51% stake in Maxximilk, which became its subsidiary as part of the deal. Maxximilk specialises in in-vitro production of high-quality embryos that aid dairy farmers produce top-quality milk, thus increasing their yield by a

January 20, 2018  |  comments ( 0 )  | 

Government Cuts GST Rate To 5% From 18% For Online Startups
Government Cuts GST Rate To 5% From 18%

In a major relief to local and home service startups, the government has brought down the goods and services tax (GST) rates to 5% from 18%, as per the recommendations by the 25th GST council meeting. Startups like UrbanClap, Housejoy and Quikr, among others had communicated to the government saying charging an 18% GST rate for these services was detrimental to their business and was giving undue advantage to offline players who almost

January 20, 2018  |  comments ( 0 )  | 

PC Jeweller Q3 Profit Rises To 52%
PC Jeweller Q3 Profit Rises To 52%

PC Jeweller Ltd today reported 52 percent increase in its net profit at Rs 162.71 crore for quarter ended December on higher sales and profit margins. The company, which has 84 retail jewellery stores across the country, had posted a net profit of Rs 106.97 crore in the year-ago period. The total income (operating revenue plus other income) rose to Rs 2,690.42 crore in the third quarter of this fiscal from Rs 2,121.28 crore in the

January 20, 2018  |  comments ( 0 )  | 

Future Retail To Acquire Travel News Services For Rs 100 Crore
Future Retail To Acquire Travel News

Kishore Biyani-led Future Retail today said it will fully acquire Travel News Services India (TNSI) in a Rs 100 crore deal, a move which would help the company to consolidation further its retail business. The acquisition will help Future Retail to expand its presence at airports, metro stations and universities where the majority of retail outlets of TNSI and TNSI Retail are operating. Future Retail said “The Company has approved the

January 20, 2018  |  comments ( 0 )  |