Inditex’s joint venture with Tata sees revenue growth slow to 8 per cent, marking a significant decline from previous years Spain’s Inditex, the parent company of the popular fashion brand Zara, experienced its slowest sales growth in India, excluding the pandemic year, during FY24. As the world’s largest fashion group, Inditex faced increasing competition in […]
Pansari Group, a prominent player in the FMCG industry, has reported an outstanding performance for the fiscal year 2023-24, marking a 20 per cent surge in value and 39 per cent increase in volume. This growth sets the stage for further expansion and solidifies the brand’s position as a market leader. Highlighting their strategic focus […]
The direct selling industry in India has registered growth of more than 12 per cent, on a yearly basis, with the gross industry turnover at Rs 21,282 crore in 2022-23, according to an annual survey report released by the Indian Direct Selling Association (IDSA) on Wednesday. By definition, direct sales are sales that occur between […]
E-commerce marketplace Flipkart, owned by US-based retail giant Walmart, has witnessed a substantial dip in valuation, plummeting by approximately USD 5 billion or around Rs 41,000 crore as of January 2024 compared to its value in January 2022. This decline is revealed through equity transactions executed by Walmart, Flipkart’s parent company. According to Walmart’s restructuring […]
Myntra has received a significant investment of USD 54 million from its parent company, Flipkart. The injection of funds comes at a critical juncture for Myntra, as it faces intensified rivalry from competitors such as Reliance’s Ajio and Tata Cliq. The funding was disclosed through regulatory filings in Singapore and is the second such major […]
Indian smartphone brand Lava has emerged as the fastest-growing player in the crucial Rs 10,000-Rs 20,000 segment for both 2023 and the final quarter of the year, according to market research firm Counterpoint. This achievement underlines the company’s success in navigating the highly competitive Indian smartphone landscape. Throughout 2023, Lava witnessed growth, particularly in the […]
Morgan Stanley expects the Reserve Bank of India to start cutting rates from June 2024, with both retail and wholesale inflation figures remaining at a manageable level. The Monetary Policy Committee of the RBI in its February review meeting unanimously decided to keep the policy repo rate unchanged at 6.5 per cent, maintaining status quo […]
The stock has generated more than 27 per cent returns year-to-date outperforming the benchmark indices Nifty and Sensex The e-commerce player Zomato has witnessed optimistic sentiments from investors after posting robust growth in recent quarters. Its stock has been riding a bullish wave in 2024, delivering more than a 27 per cent return year-to-date (YTD). […]
Flipkart had its best Big Billion Days (BBD) in 2023, driving Walmart’s foreign sales growth in the fourth quarter of FY24. During the quarter, the US-based retailer’s overseas sales rose 17.6 per cent year on year (YoY) to USD 32.4 billion. In constant currency terms, revenues for the category increased by 13 per cent YoY to USD 31.2 billion. Other […]
India’s overall exports, merchandise and services combined, in January are estimated to be USD 69.72 billion, exhibiting a positive growth of 8.49 per cent on a yearly basis, official data released on Thursday showed. The overall exports during January 2023 were worth USD 63.80 billion. Overall imports during the first months of 2023 increased to […]
