The owner of Zara, Inditex, a fast fashion company globally, is expanding its low-cost brand Lefties to compete with Chinese-founded rival Shein. Shein’s rapid growth, as an online marketplace with no physical stores, has created challenges for traditional retailers like Inditex and H&M due to its competitive budget prices. While Zara has faced pressure on […]
Aditya Birla Group Chairman Kumar Mangalam Birla, on Thursday, unveiled products and services under its new decorative paints brand “Birla Opus”, aiming for Rs.10,000 crore gross revenue within three years of full-scale operations. This marks the Aditya Birla Group’s entry into the rapidly expanding Rs 80,000 crore Indian decorative paints market, with an unprecedented level […]
India witnessed a 1.17 per cent decline in tea exports, totalling 207.14 million kilogram (kg) during the January-November period of 2023, as reported by official data. This figure marks a decrease from the 209.60 million kg exported during the same period in the previous year. According to Tea Board data, North India, primarily comprising Assam […]
The consumer products sector witnessed remarkable growth throughout 2023, with the retail sales value (RSV) surging globally by nearly 10 per cent year over year, as revealed by a survey report conducted by Bain & Company. However, this growth was predominantly driven by price increases rather than volume gains, with price hikes accounting for approximately […]
Ecommerce in India is in its early stages, with logistics costs being the most significant problem, news agency PTI reported, quoting a top Flipkart executive on Tuesday. Speaking at the Walmart development Summit, Flipkart CEO Kalyan Krishnamurthy stated that the government has reduced taxation and implemented ease of doing business as a strategy, which is one […]
The Body Shop appointed administrators to accelerate the restructuring of the UK business, as per the media statements. “Today, the directors of The Body Shop International Limited have appointed Tony Wright, Geoff Rowley and Alastair Massey of business advisory firm FRP as joint administrators of the company, which operates The Body Shop’s UK business,” said an […]
Retailers gear up for Budget 2024, seeking tax cuts, green push and digital boost. With the expected growth rate in mind, retailers are looking forward to specific measures in the Interim Budget 2024. They are expecting government support in terms of taxes and incentives to boost the sector’s growth. “Reducing gross and services tax (GST) […]
The government should not reduce import charges on electronic components used in smartphone manufacture in the next Budget since the present tariff system has proven successful and altering it might affect local manufacturing, according to a GTRI report released on Monday. The Global Trade Research Initiative (GTRI) stated that keeping existing rates will assist in […]
In an interview with BW Businessworld, Zorawar Kalra of Massive Restaurants speaks about how his father, Jiggs Kalra, inspired him throughout his journey and requests the government to restore input tax credit for GST in the restaurant industry What are your expectations from this budget, considering it’s an interim budget with elections around the corner? […]
Apple on Wednesday unveiled its newest office in Bengaluru, Karnataka. Nestled at the heart of the city in Minsk Square, the 15-storey facility is Apple’s latest effort at expansion in India. The Minsk Square office is equipped to house up to 1,200 employees, featuring dedicated lab spaces, collaborative areas and the renowned Caffe Macs. Its […]
