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Amazon plans to open 13 more bookstores in US by year end
Amazon plans to open 13 more bookstores

E-commerce player, Amazon opened its first brick and mortar bookstore in New York on Thursday, selling a limited range of its highest-rated books. Amazon launched as an online bookseller in 1995. It opened brick and mortar bookstores in six other cities first, starting in its hometown Seattle in 2015. Jennifer Cast, Vice President, Amazon Books, said, "You

May 26, 2017  |  comments ( 0 )  | 

Randeep, Sunny Leone to feature in Splash Fashion's new brand campaign
Randeep, Sunny Leone to feature in

Bollywood actors, Randeep Hooda and Sunny Leone have been roped in to endorse Dubai-based fashion retailer, Splash Fashion for their India business. The actors will feature in a new brand campaign, scheduled to roll-out on July 1. Randeep said that he is looking forward to bringing the brand to more and more people in India and make them look good and feel cool. Sunny said, "I am very honoured to be working with a global brand like Splash

May 26, 2017  |  comments ( 0 )  | 

Metro Cash & Carry India mulls over relocation within Ludhiana
Metro Cash & Carry India mulls over

Wholesale retailer, Metro Cash & Carry India, has halted retail operations at its Ludhiana store, saying that the company is mulling over the choice of relocating to another location within the city. In a statement, the company said, "In its quest for sustainable growth and expansion, Metro Cash & Carry India is reorganizing its operations in Ludhiana."  Metro Ludhiana store commenced operations in August 2011

May 26, 2017  |  comments ( 0 )  | 

Zivame, Benneton apply single-brand retail licence
Zivame, Benneton apply single-brand

Lingerie retailer, Zivame has sought government's approval to convert its existing venture into a single brand retailer. According to a 2015 policy, the government allows foreign-funded companies sell only their own brands to build ecommerce channels to offer the products. According to the website of Department of Industrial Policy and Promotion (DIPP), "Actoserba Active Wholesale, which owns Zivame, has applied to the DIPP for

May 26, 2017  |  comments ( 0 )  | 

ChrysCapital likely to acquire Mufti for Rs 500 Crore
ChrysCapital likely to acquire Mufti for

Private equity investor, ChrysCapital is likely to buy Indian denim and casual wear brand, Mufti in a deal estimated at slightly over Rs 500 crore. ChrysCapital is in exclusive discussions with Credo Brands Marketing, the owner of Mufti, and is completing due diligence ahead of signing a definitive buyout deal. Mufti founder, Kamal Khushlani holds a 65% stake in the parent company, while private investors hold the rest. Khushlani, along

May 26, 2017  |  comments ( 0 )  | 

Metro Shoes posts Rs 13 crore online sales
Metro Shoes posts Rs 13 crore online

Multi-brand  footwear retailer, Metro Shoes has reported Rs13 crore sales from its online channels including e-marketplaces and its own portal in the last fiscal. As per the sources, the online marketplaces including Myntra, Flipkart and Amazon have collectively contributed 85% sales to the company, whereas its own portal has contributed remaining 15% sales. Farah Malik, Director, Metro Shoes, said, “We have achieved 13 crore online

May 26, 2017  |  comments ( 0 )  | 

Amazon to host sneaker fest from 25th to 28th May
Amazon to host sneaker fest from 25th to

Amazon Fashion has launched a dedicated sneaker store of 2,500 brands on its platform. The e-commerce player will also host sneaker fest from 25th to 28th May with a minimum 40% to 60% discount across all its selections. Amazon said the festival will offer ‘Deals of the Day’ on all the four days of the festival. During the sneaker fest period, customers will be eligible to avail offers such as minimum 50% off on top sneaker brands

May 25, 2017  |  comments ( 0 )  | 

Tailorman launches its Ready To Wear line
Tailorman launches its Ready To Wear

Men’s fashion brand, Tailorman, which pioneered ‘Made to Measure’ and known for its fine tailoring, has unveiled its debut ‘Ready To Wear’ line. The Ready To Wear Collection offers a wide selection of highly curated looks for the global modern eclectic man. Come May, the solo line, will be launched across the 10 brand exclusive showrooms in Hyderabad, Bengaluru, Chennai and Kolkata. The collection will also be made

May 25, 2017  |  comments ( 0 )  | 

Johnson Controls-Hitachi expects India to become one of its top three markets
Johnson Controls-Hitachi expects India

Johnson Controls-Hitachi Air Conditioning plan to sell made in India air-conditioners in markets in the Middle-East and Southeast Asia. The company is expecting operations in the country to become one of its top three. Franz Cerwinka, CEO, Johnson Controls-Hitachi Air Conditioning, said, "The company will invest tens of millions of dollars in setting up the product development and manufacturing capabilities at its plant near Ahmedabad in

May 25, 2017  |  comments ( 0 )  | 

Arvind Uppal to step down as Whirlpool Corp's Presiden
Arvind Uppal to step down as Whirlpool

Home appliances manufacturer, Whirlpool of India, has said that Arvind Uppal, its President - Asia Pacific, Whirlpool Corporation has decided to step down with effect from January 1, 2018. Uppal, however, will continue in his role as Chairman and Non Executive Director of Whirlpool of India. In a BSE filing, Whirlpool of India, said, "The Board of Directors of the company have on May 25, 2017 by circular resolution taken note of Arvind

May 25, 2017  |  comments ( 0 )  | 

Indiabulls ventures into LED lighting business
Indiabulls ventures into LED lighting

Indiabulls group, which operates in real estate, infrastructure and housing finance, has forayed into the LED lighting business through its listed entity SORIL Infra Resources. This will be the company's first move in a product focused business. The company will source LED lighting products from third parties and sell them under the brand name, 'IB LED’. Partha Banik, President, Indiabulls Consumer Product, said, "We expect to

May 25, 2017  |  comments ( 0 )  | 

Jeff Bezos gives $1 million to support press freedom
Jeff Bezos gives $1 million to support

The Reporters Committee for the Freedom of the Press on Tuesday announced a $1 million gift from Amazon co-founder, Jeff Bezos.   The gift from Bezos, who also owns the Washington Post newspaper, is the largest-ever gift to the media rights watchdog. David Boardman, Chairman, Reporters Committee, said, "This generous gift will help us continue to grow, to offer our legal and educational support to many more news

May 25, 2017  |  comments ( 0 )  | 

Jesper Broding becomes new CEO for Ikea Group
Jesper Broding becomes new CEO for Ikea

Swedish home furnishings retailer, Ikea Group, has appointed Jesper Brodin as its new chief executive officer after Peter Agnefjall decided to step down. Currently, Brodin is responsible for the development of the furniture retailer’s product range and supply chain. Brodin, has worked at IKEA for 22 years and is currently head of range and supply chain development. He will take over as CEO from September 1. Lars-Johan Jarnheimer ,

May 25, 2017  |  comments ( 0 )  | 

Future Retail to set up 4000 Easyday stores in five years
Future Retail to set up 4000 Easyday

Kishore Biyani- led, Future Retail, plans to expand its neighbourhood store chain Easyday  and looks to open 4,000 outlets in five years.  The expansion will include 136 stores of Heritage Fresh located in Hyderabad, Chennai and Bengaluru, which it acquired in November. The company currently operates 538 Easyday stores. The retail chain also looks to expand flagship Big Bazaar  to 350 outlets from 235 currently in three

May 25, 2017  |  comments ( 0 )  | 

Paytm Payments Bank appoints three new board members
Paytm Payments Bank appoints three new

Payment Digital payment company, Paytm held a board meeting on Tuesday to formally approve the launch of the Paytm Payments Bank. The company has formed a five member board for its payments bank..  PV Bhaskar, former executive director of the Reserve Bank of India and GS Sundarajan, former director at Shriram Group, have joined the board as independent directors. Apart from Paytm CEO Vijay Shekhar Sharma and Renu Satti, CEO of Paytm

May 24, 2017  |  comments ( 0 )  |