The Confederation of All India Traders organised protests in over 700 Indian cities on Wednesday naming November 20 “National Protest Day” against foreign-owned e-commerce businesses Amazon and Flipkart.
The Confederation of All India Traders has requested the Union Government’s Commerce and Industry Minister Piyush Goyal to create a “minimum operating price” for products to fight against predatory pricing.
The chairman of consumer goods giant Unilever said on Wednesday he is stepping down after three years in the role. He will hand over the reins to Nils Andersen, but will remain on the board as a non-executive director.
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.