H&M’s first half and Q2 were all about its ongoing recovery as the retail giant benefited from “increased full-price sales and lower markdowns”. But there remain challenges and comparison periods are getting tougher.
The National Anti-Profiteering Authority has found cosmetics brand L’Oreal guilty of profiteering to the tune of Rs 186.39 crore after failing to pass on goods and services tax cut benefits to the consumer.
Amazon India has expressed that it is “excited” for the government’s Open Network for Digital Commerce and will work closely with the government to develop it, seeing it as a way to digitise more retailers.
Flipkart has signed a memorandum of understanding with Telangana’s Society for the Elimination of Rural Poverty to facilitate market access for self help groups and farmer producer organisations in the state.
Reliance Industries Limited’s mall chain Nexus Malls has partnered with Jio-bp, a fuel and mobility joint venture between RIL and bp, to launch electric vehicle charging stations across its 17 malls in 13 cities.
L'Oreal chief executive Nicolas Hieronimus said he remained confident about the outlook for the beauty industry with consumers continuing to want to indulge despite the global economy becoming "even more complicated.
Open Network for Digital Commerce will enable kirana and other small store owners to run digital storefronts at a minimal cost with wider logistics and inventory options, analysts posit as the pilot continues.