The iconic Australian leather and accessories announced it has entered voluntary administration on Thursday, the latest Australian retailer to file for bankruptcy after a spate of localised brands did the same in 2017.
Shoppers splurged more than $1.52 billion online by Thanksgiving evening, up 16.8% over last year, and more bargain hunters turned up at stores this year as retailers opened their doors early on the eve of Black Friday.
The retail industry of India is growing at a rate of 10 per cent and can be expected to be worth Rs 85 lakh crore by the year 2021 owing to technology disruptions and consumer data, according to a recent report.
Reliance Retail has entered into a partnership with Gitanjali Group, to make jewellery from brands such as Gili, Nakshatra, Nirvana and Asmi available at its newly launched ‘Project Eve’ store in Mumbai.
The main shareholders of Austrian textiles company Wolford, which is currently trying to turn around its loss-making business, announced on Friday that they are looking to sell an undefined majority stake in the company