×
162
Fashion Jobs
L'OREAL GROUP
Executive - Sales - Matrix - Cochin
Permanent · Kochi
SUBIR SINHA
General Manager Production Manager
Permanent · Kanpur
RIVAARA LABS
we Are Area Sales Manager Like You to Join Our Sales Team
Permanent · Nashik
CAPITAL PLACEMENT SERVICES
sr.Manager Production Grinding Machines For Vadodara Gujarat
Permanent · Vadodara
L'OREAL GROUP
Area Sales Manager - South Bengal
Permanent · Kolkata
FUTURES AND CAREERS
Job Requirement For "Assistant Production Manager"
Permanent · Renigunta
KEWAL KIRAN CLOTHING LTD
Area Sales Manager (Channel Sales) Rajasthan, Jaipur
Permanent · Jaipur
FEDBANK FINANCIAL SERVICES LTD
Area Sales Manager- Doorstep Gold Loan(Chennai)
Permanent · Chennai
HERO HOUSING FINANCE LIMITED
Area Sales Manager
Permanent · Thane
PROJOBS
Manager Accounts - Garment Manufacturing (Cma)
Permanent · Coimbatore
HECTOR AND STREAK CONSULTING PVT LTD
Production Manager- Diagnostic Portfolio
Permanent · Mumbai
ELITE DECOR PVT LTD
Production Manager & Production Supervisor
Permanent · Vadodara
L'OREAL GROUP
Sales Executive - Professional Division - Bhopal
Permanent · Bhopal
L'OREAL GROUP
Executive - Sales Cpd - Bhatinda (n)
Permanent · Bathinda
L'OREAL GROUP
Sales Executive - Cpd - Bhatinda
Permanent · Bathinda
L'OREAL GROUP
Area Sales Manager, Cpd - Chandigarh
Permanent · Chandigarh
HEALTHKART
Area Sales Manager- Healthkart - Lucknow, Agra, Gwalior
Permanent · Lucknow
HALONIX TECHNOLOGIES PVT LTD
Area Sales Manager - Lighting Retail Sales (Rajkot)
Permanent · Rajkot
ELECTRONICA FINANCE LTD
Area Sales Manager - Bangalore Machinery Loan
Permanent · Bengaluru
NANDANI CREATION LTD
Production Manager
Permanent · Jaipur
ELECTRONICA FINANCE LTD
Area Sales Manager - Kolhapur Machinery Loan
Permanent · Kolhapur
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager (Jharkhand All District)
Permanent · Ranchi
By
Reuters API
Published
Mar 23, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Coronavirus threatens retail jobs, Indian retailers see revenue hit

By
Reuters API
Published
Mar 23, 2020

The coronavirus pandemic amid an economic slowdown has hit revenue at Indian retailers selling non essential items like clothes and jewellery by 75 percent so far and is likely to cause widespread job losses, an industry body said on Monday.


Coronavirus threatens retail jobs, Indian retailers see revenue hit


About 40 percent of the six million employees working in India's modern, rather than traditional, retail sector could likely lose their jobs in the next four months if the government does not intervene, Kumar Rajgopalan, chief executive, Retailers Association of India (RAI), told Reuters.

"Unless the government provides some relief, revenues will slide by 90% in the next six months," Rajgopalan said, suggesting moratoriums on the payment of loans, and on the payments of the goods and services tax (GST) and other government duties.

The RAI represents 500,000 stores in India, including brands like V-Mart , Shopper's Stop , Future Group and Avenue Supermarts , which operates the grocery chain D-Mart.
On Sunday, Future Retail, which owns hypermarket Big Bazaar, said the pandemic, has resulted in a "degrowth of revenue".

"The expected impact of Covid-19 as of now is hard to ascertain," it said in a filing to the exchanges on Sunday.

India has registered 341 cases of coronavirus, with seven deaths as of Sunday. Experts have warned the rate of increase in cases in India mirrors those seen in the early stages of outbreaks in other countries, which then went on to see rapid growth.

Gurgaon-based fashion retailer V-Mart Retailer has seen a 30% fall in revenue in the week of March 15-21 due to store closures. The retailer has shut about 116 of its 265 stores as of Saturday.

"Manpower costs are fixed, we are trying to support our staff at least for the next 45 days," said Lalit Agarwal, managing director,V-Mart Retail.

Aditya Birla Fashion and Retail said on Monday that business had been significantly affected without specifying the impact of the pandemic.

In India, the virus threatens an economy that was already hit by a slowdown in consumption that has bruised demand for everything from cars to clothes to chocolates.

The virus, which originated in China, has infected nearly 200,000 people worldwide, forced countries into lockdown and fear over its impact on global economy has sent world financial markets crumbling.

© Thomson Reuters 2021 All rights reserved.