Aditya Birla plans to double its store count for its multi-brand luxury fashion retail chain The Collective and open 10 more stores in the coming three years with an investment of around Rs 60 crore ($9 million).
The news published by Bloomberg about a possible takeover of the down jacket label by the French luxury group fuelled plenty of speculations. FashionNetwork.com analyses the operation’s potential impact.
Luxury jeweler Tiffany & Co, which is being bought by France's LVMH, missed market expectations for quarterly profit and sales on Thursday, hit by lower spending by foreign tourists in the United States and Hong Kong.
The chief executive and top shareholder of Moncler played down speculation around a takeover by Gucci-owner Kering on Thursday, saying the two firms sometimes talked but that there was no deal in the works.
As luxury giants continue to snap up the world’s top brands, could the latest move be Kering preparing to buy Moncler? It could be if news reports are to be believed, although neither company has commented.
Aquascutum’s Chinese owner is the subject of a potential lawsuit over unpaid invoices, as fears over a liquidity crisis persist. A Portuguese fabrics firm called Calvelex is expected to take it to court this week.
Flipkart’s wholesale business Flipkart India has received Rs 2,839 crore ($426.7 million) in funding from its Singapore-based parent company Flipkart Limited as it prepares for its last sale season of the year.
Mukesh Ambani’s Reliance Industries became the first Indian company to cross Rs 10 lakh crore in market value. Reliance Retail’s market capitalisation crossed Rs 5 lakh core as share prices rose dramatically.