Higher prices, lending curbs and a move to online shopping are denting the cheer for Indian retailers at this year’s Diwali festival, with lackluster sales for high-end items ranging from iPhones to cars and even gold.
On July 20, TCNS Clothing closed the last day of its initial public offer (IPO) subscribed 5.25 times as it received bids for around 577 lakh shares against the total issue size of around 157 lakh shares.
The womenswear garment manufacturer TCNS Clothing raised over Rs 337 crore ($50.7 million) from anchor investors ahead of its Initial Public Offering (IPO) that began on July 18 and will close on July 20.
German fashion house Hugo Boss reported strong quarterly sales growth in China and the United States on Wednesday but saw a decline in its home market and for its Hugo brand that it is updating for younger consumers.
Following US President Donald Trump’s repeated attacks on Amazon’s treatment of the US Post Office, analysts from Piper Jaffray Companies have stated that they do not believe the online retailer will face higher rates.