Future Enterprises Limited reported a net loss of Rs 2,296 crore in the fourth quarter ended March 2022, due to factors including failure of the deal with Reliance, attrition of employees, and litigations.
EssilorLuxottica extended its partnership with Armani in a sign of continuity on Wednesday as it held its first capital markets day since the death of chairman and main shareholder Leonardo Del Vecchio in June.
Following its investments in Byredo and Loto del Sur, the Spanish group has acquired a majority stake in the beauty and wellness firm founded in 2002 with the aim of strengthening its foothold in the Indian market.
Inditex reported its first-half results on Wednesday and once again showed why it’s such a hugely successful fashion retail giant. It saw a “very strong operating performance” with sales and profits at “historic highs”.
Amazon is buying Belgian company Cloostermans, a textile machinery manufacturer that now specializes in mechatronic automation tools. Cloosterman has been supplying the American retail giant since 2019.
Japanese fashion and lifestyle brand Uniqlo has become profitable in the Indian market less than three years after making its brick-and-mortar entry into the country. The brand is also gearing up to launch a new store.
India is on the path to become a powerhouse driving global growth by 2047, said union minister of commerce and industry, consumer affairs, food and public distribution, and textiles Piyush Goyal when recently addressing the business community of southern California.
Future Lifestyle Fashions Ltd (FLFL) is seeking the approval of its shareholders for the sale of in-store retail infra-assets, which will be used for repayment of debt and other operational liabilities.
Amazon Seller Services, which runs the Amazon India marketplace narrowed its losses to Rs 3,649 crore ($460.4 million) for the financial year 2022 and reported a 32 percent rise in revenue to Rs 21,633 crore.