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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

May 24, 2017  |  comments ( 0 )  | 

Shoppers Stop plans creating ‘transformation’ experience in its stores
Shoppers Stop plans creating

Retail Chain, Shoppers Stop plans to introduce a host of strategies including fresh store design, better experience, youth-focused brands and a reinvigorating online presence to create greater connect with young consumers aged between 18-25 years. Govind Shrikhande, Managing Director, Shoppers Stop, said, "The younger customer between 18-25 years of age is currently shopping a lot online and our presence there isn’t very large.

May 24, 2017  |  comments ( 0 )  | 

ShopClues aims to becomes everyday fashion destination
ShopClues aims to becomes everyday

Indian ecommerce player ShopClues is scouting for fashion partner to make ShopClues an everyday fashion destination, a top company official said. Sanjay Sethi, CEO & Co-Founder, ShopClues, said "We are looking at building our fashion category through acquisition as we are looking to position ShopClues as the everyday fashion destination. We are scouting for acquisitions in areas like analytics, mobility and applications also mainly to

May 24, 2017  |  comments ( 0 )  | 

Future Retail posts 17% increase in Q4 profit
Future Retail posts 17% increase in Q4

Kishore Biyani’s Future Retail has witnessed a 17.3% increase in net profit to Rs 123.05 crore for the three month period ended March 31, 2017 According to the company, it had posted a profit of Rs 104.9 crore in the same period a year ago. For the year ending March 31, 2017, the company has recorded over 25 fold jump in its profit at Rs 365.50 crore as compared to Rs 14.32 crore it posted a year ago. Future Retail said that the total

May 24, 2017  |  comments ( 0 )  | 

Brooks Brothers widens its online footprint with Tata CLiQ
Brooks Brothers widens its online

Tata Industries’ e-tail arm, Tata CLiQ Luxury has announced the launch of American clothing brand, Brooks Brothers on its website. More than 500 curated styles from Brooks Brothers Main Line and Brooks Brothers Red Fleece Collection will now be available on Tata CLiQ.  The brand also becomes the first to offer a phygital experience to the consumer base with the curated collection of equivalent styles available online and across

May 24, 2017  |  comments ( 0 )  | 

ABFRL partners with KVIC to sell Khadi products
ABFRL partners with KVIC to sell Khadi

Aditya Birla Fashion and Retail Ltd (ABFRL) has joined hands  with the Khadi and Village Industries Commission (KVIC) to launch a new line of Khadi products under the brand, Peter England. Under the partnership, Peter England has agreed for a guaranteed minimum procurement of khadi and khadi products for a period of five years with primary purchases of muslin cotton and silk. V.K. Saxena, Chairman, KVIC, said, "Khadi, the

May 24, 2017  |  comments ( 0 )  | 

BIBA opens new flagship store in Mumbai
BIBA opens new flagship store in Mumbai

BIBA, the ethnic apparel brand has launched its new flagship store at Seawood Grand Central Mall, Mumbai, taking the total number of its outlets to 35 in Maharashtra. Spread across 955 sq ft, the new flagship store offers the recently launched Spring Summer 2016 collection. Siddharath Bindra, Managing Director, BIBA, said, "We have witnessed an increasing customer demand which encouraged us to open a new flagship BIBA store in Mumbai taking

May 24, 2017  |  comments ( 0 )  | 

Crocs launches new store in Bengaluru
Crocs launches new store in Bengaluru

Global footwear brand, Crocs, has expanded its retail business by launching its second store in Bengaluru’s Forum Mall. The brand plans to expand further by extending its presence in the Phoenix Market City Mall, with this store being the third in the city.  Phoenix Mills Ltd is a comprehensive retail mix and the integration of market and community. The store’s business is set to commence from May 25, 2017 and has a wide

May 24, 2017  |  comments ( 0 )  | 

SnapBizz targets 3000 retailers by 2018
SnapBizz targets 3000 retailers by 2018

Retail tech company, Snapbizz, has announced its entry into the Telangana and Andhra Pradesh market as it plans to tap nearly 3000 retailers in a year. The company plans to tap nearly 15,000 to 20,000 kirana stores in next one year in cities like Mumbai, Pune, Delhi, Surat, Gujarat and Southern cities. Prem Kumar, Chief Executive Officer and Co-Founder, SnapBizz said, “The Goods and Services Tax turned out to be a shot in the arm for us

May 24, 2017  |  comments ( 0 )  | 

Shahid Kapoor gets 'Best Entrepreneur Award'
Shahid Kapoor gets 'Best Entrepreneur

Bollywood actor, Shahid Kapoor’s athleisure clothing label, Skult, plans to make its store debut over the next three months. In 2016, Shahid launched his own fashion brand called Skult in association with www.abof.com. The brand evoked a great response soon after its launch. Last week in Delhi, the actor picked up the best entrepreneur award for his brand at a function acknowledging corporates, start- ups and entrepreneurs

May 23, 2017  |  comments ( 0 )  | 

VIP Industries expand its presence in Jammu & Kashmir
VIP Industries expand its presence in

VIP Industries Limited, one of India's leading luggage brand, has expanded its presence in Jammu& Kashmir. The company opened its first ever 'VIP World' showroom in Jammu.  The store, spread over 900 sq ft , located in the high-end market area of Gandhi Nagar, will sell latest styles of trolleys, handbags, backpacks and luggage bags from VIP, Skybags, Carlton,Caprese, Aristocrat and Alfa. Present in India for more than 4

May 23, 2017  |  comments ( 0 )  | 

CaratLane launches its first store in Ghaziabad
CaratLane launches its first store in

Jewellery retailer, CaratLane, is expanding its retail footprint and making its jewellery more accessible. The company inaugurated its 1st store in Ghaziabad, at Shipra Mall. Spread across 500 sq. ft., this is company’s 7th store in Delhi/NCR region and 17th in the country. Mithun Sacheti, Founder & CEO, CaratLane said, “We are extremely proud to launch our first store in Ghaziabad. Like all our other stores, here we've

May 23, 2017  |  comments ( 0 )  | 

JD.com plans to develop heavy-weight delivery drones
JD.com plans to develop heavy-weight

Chinese online retailer, JD.com Inc, has made an announcement that it plans to develop drone aircraft capable of carrying a ton or more for long-distance deliveries. The company stated that it will test the drones on a network it is developing that will cover a northern Chinese province and carry consumer goods to remote areas and farm produce to cities. According to the company, it made its first deliveries to customers using smaller drones in

May 23, 2017  |  comments ( 0 )  | 

Walmart India gives training to supplier partners on new GST regime
Walmart India gives training to supplier

As the new GST regime is set to kick in from July 1, retail major, Walmart India has has started a series of workshops and training programmes for its small and medium-sized (SME) suppliers to help them evaluate their GST compliance levels and prepare for the transition. Under this initiative, the company is training its suppliers and vendors to comply with the new tax structure under the proposed GST regime. The company said that it has

May 23, 2017  |  comments ( 0 )  | 

Paytm targets 500 billion users by 2020
Paytm targets 500 billion users by 2020

Digital payment firm, Paytm, has launched its payments bank on Tuesday with 4% annual interest rate on saving accounts deposits. The company plans to open 31 branches and 3,000 customer service outposts within the first year of operations. It also targets to bring 500 billion users on its platform by 2020. To get the initial set of users on board it will give cashbacks to the first one million account holders. Paytm Payments Bank accounts will

May 23, 2017  |  comments ( 0 )  |