India has allowed the export of non-basmati white rice in varying quantities to Comoros, Madagascar, Equatorial Guinea, Egypt, and Kenya, an official notification said. Notably, the export of non-Basmati white rice was prohibited on 20 July to check domestic prices and ensure domestic food security. Earlier, India allowed the export of such a variety of […]
Walmart’s top executives expressed concerns about the future spending patterns of consumers, stating that financial strain is making them more cautious, Reuters reported on Wednesday. Chief Financial Officer (CFO) John David Rainey observed “unusual behavior” in October that prompted worries about the consumer’s financial health. He clarified at the Morgan Stanley Global Consumer & Retail […]
ByteDance, the parent company of TikTok, the short video platform launched its online shopping service in 2021 named TikTok Shop in Indonesia. The ecommerce platform is currently available in the UK and the US markets. To boost its online retail platform in the US, ByteDance is planning to prohibit links to other ecommerce platforms such […]
US Secretary of Commerce Gina Raimondo and Union Minister for Commerce and Industry Piyush Goyal discussed future collaboration on supply chains, workforce development and other sectors. The two leaders held discussions during a virtual US-India CEO Forum meeting held on 30 November, according to US Department of Commerce press release. During the meeting, US and […]
The global smartwatch shipments increased 9 per cent in Q3 FY23 compared to same quarter last year, according to Counterpoint Research. The primary drivers of this growth were sustained strong performance of the Indian market led by Fire-Boltt as well as Huawei smartwatches. Amid a global economic slowdown, most consumer device like smartphones are […]
More than 60 Indian footwear and leather goods manufacturers are set to participate in the largest exhibition of such products in the Middle East and North Africa (MENA) region from 11-13 December. The Dubai International Footwear and Leather Exhibition (DIFLEX 2023) comes against the backdrop of rising demand for footwear and leather goods in the […]
As holiday shoppers initiate the return process for items acquired during Black Friday and Cyber Monday online shopping sprees, an increasing number of U.S. retailers may advise customers to retain items whose return shipping costs surpass their intrinsic value, according to a Reuters report. This year, 59 per cent of retailers are implementing so-called “returnless” […]
Fashion group SMCP, the owner of French fashion labels Sandro and Maje, announced on Thursday that it has entered into a deal with Reliance for expansion into India. The company will join other prestigious European brands in opening stores in the Jio World Plaza mall in Mumbai. According to SMCP CEO Isabelle Guichot, “There aren’t […]
Chinese payment group Alipay, a subsidiary of Ant Group, is reportedly planning to divest its 3.4 per cent stake in the food delivery platform Zomato for approximately USD 400 million through block deals on Indian stock exchanges, the news agency Reuters reported. Alipay is set to sell its entire 3.44 per cent stake in the […]
Chinese fashion giant Shein has confidentially filed for an initial public offering (IPO) in the United States. Founded by entrepreneur Chris Xu in 2012, Shein has become a global fashion marketplace with a direct-selling model, targeting its millions of social media followers. The company, known for its affordable clothing, claims to have over 250 million […]
