Shoppers Stop saw an almost 20 percent year-on-year increase in sales over the course of Durga Puja and private label sales also increased to 14 percent of the business’ total revenue during the sale.
Indian asset developer Phoenix Mills will double its operational retail portfolio over the next 4 to 5 years to reach approximately 12 million square feet, up from its current total of 5.9 million square feet.
The Enforcement Directorate has attached 11 properties owned by the fugitive jewellery tycoon Nirav Modi to the case, it said on Tuesday. The properties are located in Dubai and worth Rs 56.8 crore ($7.79 million).
Indian e-commerce marketplace Snapdeal witnessed a surge in sales during its four Mega Diwali sales conducted from October 10 to November 4, 2018, witnessing a 250 percent rise over normal daily performance.
The Enforcement Directorate (ED) will now question the fugitive jeweller Mehul Choksi’s Hong Kong director Deepak Krishna Rao Kulkarni after arresting him in Kolkata in hopes of learning more about Choksi’s businesses.
Michael Kors may have seen its shares falling sharply after sales missed analysts’ forecasts, but the message from the company’s top team was (almost) all positive as it looked to a time when it will be an $8bn group.
Burberry was upbeat on Thursday morning as it reported half-year results saying that its “brand repositioning is under way, with strong initial response” and that it’s “energised by the early results.”
Ikea is planning to hire 10,000 workers in Maharashtra, half of these directly and the rest indirectly, over the next two to three years, according to its people and culture manager for India Anna-Carin Mansson.
Snapdeal has managed to revive its fortunes by narrowing its losses during the fiscal year 2017-18 to Rs 613 crore ($84.7 million) from the Rs 4,647 crore losses it had posted during the last financial year.