Future Consumer reported a net loss to Rs 17 crore ($2.4 million) for the quarter ended September 30, 2019, as against a net loss of Rs 3 crore it had reported in the corresponding quarter last fiscal.
Amazon and Flipkart have communicated to the Department for Promotion of Industry and Internal Trade that they do not engage in predatory pricing online in India as the government body investigates them.
Capri Holdings faced some challenges in Q2 but the company is upbeat about the prospects for its trio of power brands as Versace gains traction, Michael Kors returns to positive comparable sales and Jimmy Choo expands.
Gillette India Limited witnessed a five percent slump in its net profit to Rs 62 crore ($8.8 million) for the first quarter ended September 2019 as against Rs 65 crore it had reported in the year-ago period.
The Competition Commission of India plans to create advisory guidelines for e-commerce businesses operating in India to encourage transparency and decide when deep discounting practices are appropriate.