The Colorado-based footwear company announced continued progress in sales and profits on Thursday, as the brand managed to achieve solid growth in the third quarter despite sales losses related to a reduced store count.
The Confederation of All India Traders (CAIT), a body representing Indian traders, has said that there was a 20 percent surge in volume growth to Rs 30,000 crore ($4.14 billion) during the Diwali sales.
Indian fashion brand Mufti is looking to expand its product portfolio with the addition of athleisure clothing and accessories. It is eyeing revenue of Rs 400 crore ($55.2 million) by the end of this fiscal.
Driven by flagship label Moschino and its multi-brand channel, the Italian fashion group has announced strong growth in the first nine months of the year, reporting double-figure increases in both revenue and profit.
Superdry may be under pressure at the moment from its unhappy co-founder, and it may have had a tough time in the summer, but its trading update on Thursday painted a picture of a company in reasonably good health.
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.