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Will continue as Myntra-Jabong CEO; less than 10 pc jobs being cut: Ananth Narayanan

There have also been speculations that there could be more exits in the wake of the recent upheaval at Flipkart following the surprise exit of co-founder Binny Bansal.

Jabong merges into Myntra, Ananth Narayanan to stay on

"As the next step in this process, Myntra and Jabong will now fully integrate all the remaining functions including technology, marketing, category, revenue, finance and creative teams," the company said in a statement.

Flipkart hires Smriti Singh as its chief human resources officer

Flipkart has hired Smriti Singh as its chief of human resources officer (CHRO), industry sources said. Singh was previously the executive vice president HR for Sony Pictures Networks India .

Ananth Narayanan says to continue in role as Myntra CEO

Binny Bansal resigned after a probe into what parent Walmart said was "serious personal misconduct".

Flipkart billionaire's exit puts corporate India on notice

Bansal case may put pressure on corporate India to strengthen its own policies with respect to sexual harassment

Jabong jobs at risk in Flipkart restructuring

Flipkart Fashion and Myntra will continue to be run independently, although it is not clear how much focus will remain on Jabong and if it will continue operations.

Myntra may see cut in workforce after CEO exit

Two Myntra executives separately told TOI about talks of a potential cut in workforce doing the rounds within the company for a couple of months.

Rule change allows Binny to stay director

According to recently amended Articles of Association (AoA) of Flipkart Private in Singapore, that minimum threshold for Bansal is around 3 million shares. He held about double that number as of August, according to business intelligence firm Paper.vc.

Crisis at Flipkart no worry for top tech & B-school students

IITs & IIMs, along with some top run engineering institutes and B-schools, are considered to be the important talent-hunting grounds for companies, including Flipkart and Amazon.

Over 150 laid off in Jabong-Myntra merger

Jabong held a townhall on Friday to discuss the restructuring, and about 8-9% of the total workforce of about 1,500 at Myntra Jabong were laid off, as per a source.

Binny Bansal's departure puts disclosure policies in focus

Apart from matters of personal relationships, industry members say Bansal's exit has served as a wake-up call for the startup community in India to ensure transparency among founders.

China's JD.com misses revenue estimates

JD.com's sales volumes are seasonally lower in the third quarter as it ramps up to its November Singles' Day promotion period.

Debate swirls on ‘giveaways’ after Amazon HQ deal

Amazon’s search for incentives — derided by some as a “Hunger Games” competition — is a common practice in the United States.

Flipkart plans major hiring, looks for CTO, CPO

Binny Bansal's exit last week led to one of the most turbulent times at Flipkart, but CEO Kalyan Krishnamurthy is trying to quickly stabilise the company.

Jabong plans to fire 200 more staff in three months

One of the sources said Jabong employs around 600 people, out of which only 150 will be left after integration.

Paytm ex-staffer moves for bail in info theft case

Sonia Dhawan has been in jail since October 23, after she was arrested for allegedly stealing “personal secret information” of Vijay Shekhar Sharma.

PhonePe sees rapid growth, crosses 1 billion transactions

PhonePe also hit an annual TPV (total purchase value) run rate of $38 billion last month.

Now, you can pay LIC premium through Paytm

The platform now provides online insurance premium payment solutions for over 30 insurance companies .

Myntra launches Italian handbag brand, Carpisa on its platform

Catering to the affordable luxury segment, products from Carpisa are available at an average price of Rs 3,600, targeting women in the age group of 25 to 40 years from Sec A and Sec A+ categories in metros and tier 1 cities, the company said.

eBay polishes plans for online second-hand luxury watch market

Swiss luxury watch brands have long hesitated to sell online and used to look at platforms like eBay or specialised websites Chrono24 or Chronext as a nuisance because watches which retailers find hard to sell often end up online at a discount.

BIS launches gold hallmarking awareness campaign

In a country where millions invest their life savings into gold purchases; they deserve pure and certified gold. Through this campaign, we aim to catalyze a mass consumer movement to drive preference for hallmarked gold.”

Indian gold demand rises 10 per cent in Sept quarter; festive outlook muted

According to WGC's 'Q3 Gold Demand Trends' report, in value terms, the country's September quarter gold demand went up by 14 per cent to Rs 50,090 crore, compared to Rs 43,800 crore.

Gold at six-year highs on festive season demand

Globally, gold after moving both ways, ended the week a shade lower at USD 1,233.20 an ounce as against previous week's level of USD 1,233.80. Silver too ended almost flat at USD 14.82 an ounce.

Jewellers accuse harassment by govt officials ahead of Diwali

Several incidents across states have come to light wherein the police, income tax officials and GST officials have conducted "illegal raids" on jewellers, especially the small and medium sized players, it said.

Diamond traders seek export credit limits in dollars

The Indian currency has lost about 12 per cent this year, and is ranked among the worst performing in emerging markets.

Government relaxes export norms for select goods used in jewellery-making

Earlier, exports of any kind of gold jewellery or related items containing gold of 8 carats, and above, up to a maximum limit of 22 carats were permitted.

Spike in diamond jewellery demand on Diwali

Atul Sinha, SVP - Marketing, CaratLane said "We are witnessing a shift in trend among jewellery buyers."

PNB fraud: ED arrests Mehul Choksi's Hong Kong firm director

Kulkarni, who was coming from Hong Kong was detained at the airport by the ED officials in Kolkata who then took him to their office.

A dull Dhanteras for gold this year

Demand from rural India has not picked up as farmers are yet to receive MSPs for their crops.

ED to quiz Choksi aide Deepak Kulkarni

The ED arrested him on Monday when he arrived at Kolkata airport from Hong Kong. He was being brought to Mumbai where he will be produced before a local court before November 12.

PNB fraud: ED attaches 11 properties of Nirav Modi in Dubai

The ED has issued a provisional order for attachment of these assets under the Prevention of Money Laundering Act (PMLA).

Nirav Modi declared 'proclaimed absconder' in customs case

In Surat, Chief Judicial Magistrate B.H. Kapadia accepted a plea made by the Customs Department and asked Nirav Modi to appear before the court on next Thursday.

Gold loses sheen in Diwali trade, prices fall Rs 210

Tracking gold, silver too fell by Rs 300 to Rs 39,000 per kg.

Rising gold price vindicates RBI’s investment plan

It was for the first time in nine years that the RBI was buying gold.

PC Jeweller Q2 net profit slumps 37.76pc on poor sales

Net revenue declined to Rs 1,635.08 crore during the July-September this year from Rs 2,622.32 crore in the year-ago quarter, according to a BSE filing by the company.

Pink diamond sells for more than $50 million, setting world record

Christie's said renowned jeweller Harry Winston was the buyer. The auction house had expected to fetch $30 million to $50 million for the nearly 19-carat, rectangular-cut stone, the largest fancy vivid pink diamond that it has ever put under the hammer.

Govt plans to make gold hallmarking mandatory soon: Paswan

India has over 220 BIS-recognised assaying and hallmarking centres; and maximum of them are located in Tamil Nadu, followed by Kerala.

Gold imports dip 43% to $1.68 bn in Oct

According to the commerce ministry data, gold imports had stood at USD 2.95 billion in October last year.

Jewellery exports may decline despite demand surge from Europe: Traders

In the first six months of the current fiscal, exports went down by 5% to $15.61 billion.

Will appear if I'm fit to travel: Mehul Choksi to PMLA court

Choksi is not fit to travel, so his statement can be recorded through video conferencing or ED officers can visit Antigua and take his statement, Choksi's lawyer told court.

BIS launches gold hallmarking awareness campaign

In a country where millions invest their life savings into gold purchases; they deserve pure and certified gold. Through this campaign, we aim to catalyze a mass consumer movement to drive preference for hallmarked gold.”

Indian gold demand rises 10 per cent in Sept quarter; festive outlook muted

According to WGC's 'Q3 Gold Demand Trends' report, in value terms, the country's September quarter gold demand went up by 14 per cent to Rs 50,090 crore, compared to Rs 43,800 crore.

Titan Q1 profit jumps 31% YoY to Rs 349 crore

Revenue for the quarter rose to Rs 4,318.85 crore from Rs 4,026.64 crore in the year-ago quarter.

Gold at six-year highs on festive season demand

Globally, gold after moving both ways, ended the week a shade lower at USD 1,233.20 an ounce as against previous week's level of USD 1,233.80. Silver too ended almost flat at USD 14.82 an ounce.

Luxury watch retailers hope against tax ‘surprises’ in current fiscal

Fortunes of this segment fluctuated last year with introduction of the goods and services tax in July last year, followed by an increase in import duty to 20% from 10% in February.

Richemont sells luxury leather bagmaker Lancel to Piquadro

Richemont, the owner of Cartier jewellery as well as watch brands including Piaget and IWC, said the deal would have no material impact on its balance sheet, cash flow or results for year ending 31 March 2019

Meet Kuruvilla Markose, the man who has put Titan’s digital transformation on the fast track

Markose seems to have segued into his role pretty well. He has spent all of his two decade long career in Tata Group. He has been in customer facing roles across different group companies.

Nike 'deeply concerned' by 'disturbing' Ronaldo rape claims

Nike has had a contract with Ronaldo, one of the wealthiest and most famous soccer players in the world, since 2003. The latest terms signed in 2016 are worth a reported $1 billion and Ronaldo has suggested that it was a deal "for life."

Jewellers accuse harassment by govt officials ahead of Diwali

Several incidents across states have come to light wherein the police, income tax officials and GST officials have conducted "illegal raids" on jewellers, especially the small and medium sized players, it said.

Diamond traders seek export credit limits in dollars

The Indian currency has lost about 12 per cent this year, and is ranked among the worst performing in emerging markets.

Festival season shift has hit our bottom line: Lalit Agarwal, V-Mart

In first half, same-store sales growth grew a mere 1%, says V-Mart CMD

Baba Ramdev launches Patanjali Paridhan; aims 500 store by 2020

Patajali Paridhan stores will sell sportswear brand Livfit, women’s wear brand Aastha and men’s wear brand Sanskar. They will be spread across an area of 500-2000 square feet.

JadeBlue, retailer of ‘Modi Jackets’, posts dip in sales

The entry of global brands, growth of e-comm impacting offline trade, says MD.

Classic white sneakers are back in vogue

Classic white sneakers are back, with their cachet and business booming in India on the strength of renewed love for retro.

For the rest of the year we will be on target: Bhaskar Bhat, Titan

Titan MD explains why jewellery sales failed to keep pace with target in Q1

Attention, fashion Nazis! Alexander McQueen, Yves Saint Laurent are coming to India

The first of these stores is likely to come up at DLF’s Chanakya mall in Delhi.

Trump targets Nike as Kaepernick ads spark boycott calls

The footwear and apparel maker's campaign this week further stoked a national debate over social justice that Kaepernick and other NFL players sparked with their protests aimed at addressing police brutality against minorities, racial injustice, and reforming the criminal justice system.

Government relaxes export norms for select goods used in jewellery-making

Earlier, exports of any kind of gold jewellery or related items containing gold of 8 carats, and above, up to a maximum limit of 22 carats were permitted.

Spike in diamond jewellery demand on Diwali

Atul Sinha, SVP - Marketing, CaratLane said "We are witnessing a shift in trend among jewellery buyers."

PNB fraud: ED arrests Mehul Choksi's Hong Kong firm director

Kulkarni, who was coming from Hong Kong was detained at the airport by the ED officials in Kolkata who then took him to their office.

A dull Dhanteras for gold this year

Demand from rural India has not picked up as farmers are yet to receive MSPs for their crops.

After demonetisation & GST, Indian luxury market now hit by stock and currency fluctuations

The overall market contraction has translated to cut downs in sales teams on the shop floors or staffers foregoing incentives after hanging on to their jobs.

70 jobs for every crore rupee invested: States lay out the red carpet for apparel MSMEs

State Governments have now realized the enormous potential of the apparel sector to create jobs and empower women. They have been quick to take action and create an investor-friendly policy and environment MSMEs.

Apparel retailers like Shoppers Stop, Reliance Trends record double digit growth this festive season

The retailers said same-store sales grew by 8-15% during this festive season. Future Group and Fabindia said their sales were among the best in 3 years.

Baggit's mass media campaign: What's in this bag?

Baggit launched its first mass media campaign, with a Bollywood face. Is it enough to stem the tide in this suddenly hypercharged category?

We are growing because of tailwinds in all sectors: Dilip Piramal, VIP Industries

“It will be a long time before Bangladesh starts to make a bigger contribution in our working.”

ED to quiz Choksi aide Deepak Kulkarni

The ED arrested him on Monday when he arrived at Kolkata airport from Hong Kong. He was being brought to Mumbai where he will be produced before a local court before November 12.

PNB fraud: ED attaches 11 properties of Nirav Modi in Dubai

The ED has issued a provisional order for attachment of these assets under the Prevention of Money Laundering Act (PMLA).

Adidas rejigs ops in India to bring down cost

Apart from shutting down non-performing stores, the world’s second-largest sportswear firm has also moved key verticals, including Originals, Football and Premium Running out of India to places like Dubai, said sources.

Relaxo eyes Rs 2,500 crore turnover this fiscal

The company also plans to open 50 standalone outlets in the current fiscal, taking total count to over 350 stores.

Nirav Modi declared 'proclaimed absconder' in customs case

In Surat, Chief Judicial Magistrate B.H. Kapadia accepted a plea made by the Customs Department and asked Nirav Modi to appear before the court on next Thursday.

Gold loses sheen in Diwali trade, prices fall Rs 210

Tracking gold, silver too fell by Rs 300 to Rs 39,000 per kg.

British retailer M&S hit by latest reinvention

"Trading conditions remain challenging and the headwinds from the growth of online competition and the march of the discounters remain strong in all our markets," it said on Wednesday.

Zara launches online sales in 106 countries

“From tomorrow, Zara’s global women’s, men’s and kids collections will be available in a total of 202 markets, underpinned by the integrated store and online platform,” the company said.

Brahmins Group diversify into luxury pen segment

Brahmins has set up a new company Hexagon Insights in association with renowned pen turner Ron Caddy of Acron Crafts in the UK for making hand crafted luxury pens.

ASICS prepares to comply with FDI norms to launch single brand retail

New Delhi, Apr 8 () Sportswear brand ASICS is slowly increasing the share of its products manufactured in India to comply with foreign direct investment norms for single brand retail and open its own stores in the country.

Titan Q2 net rises 8 pc to Rs 301.11 cr

Titan said as on September 30, 2018, as a part of treasury operations, it has invested in inter-corporate deposits amounting to Rs 145 crore with IL&FS and its subsidiary.

Richemont highlights volatile consumer demand as net profit falls

"Amidst growing volatility in consumer demand, partly attributable to an uncertain economic and geopolitical environment, we maintain confidence in our ability to realise our long term ambitions," the maker of IWC watches and Cartier jewellery said in a statement on Friday.

Raymond expects small town mini stores to contribute around 20% of its retail sales

The company, which has recently achieved the target to open its 200th 'Mini TRS' (The Raymond Shop), has plans to add around 600 more in its network in tier IV, V and VI towns.

Titan reports 40% YoY jump in Q4 profit at Rs 282 crore; announces Rs 3.75 dividend

Revenue for the quarter rose 11.2 per cent YoY to Rs 3,869 crore.

Crocs to outsource manufacturing of clogs, other footwear

Crocs is also closing less productive retail stores as leases expire and focusing more on online sales.

How Dave Thomas is getting Reebok back on track and pushing Adidas on a high growth trajectory

For Thomas, who was appointed India head in October 2014 and joined three months later, a crippling legacy ensured a baptism by fire. The ghost of Reebok had to be exorcised.

Carlton London to boost e-commerce ops in India

Carlton London, by venturing into multiple retail channels operation, aims to reach out to a wider audience across geographies.

Adidas Group India posts exponential rise in net profit to Rs 113 cr for FY16-17

Adidas Group has posted a revenue of Rs 1,513 crore for the financial year 2016-17 as compared to Rs 1,253 crore it posted last fiscal.

Global sportswear giants reduce cricket spends

Sponsoring a bat can cost a company anywhere between Rs 50 lakh for a rookie to around Rs 6-8 crore for a toplevel cricketer such as Indian skipper Virat Kohli.

'Free Adidas shoes': Don't fall for it, it's a scam

A message which is circulating across the Facebook-owned messaging app's platform says that users can get a free pair of shoes from an international brand (Adidas) as the company is distributing many freebies on account of its anniversary.

Lenskart plans to invest USD 5 mln in 3 yrs

The company expects Rs 400 crore turnover from eye glasses in the current fiscal year.

Woodland to revamp store design

The company has announced the launch of two new concept stores in Noida in GIP mall and DLF Mall of India marking the beginning of the new design outlets in the country.

DDB Mudra Group wins creative mandate for Puma

Puma has been designing, developing, selling and marketing footwear, apparel and accessories, for over 65 years.

Rising gold price vindicates RBI’s investment plan

It was for the first time in nine years that the RBI was buying gold.

Brand Titan is top of the pops in terms of growth but all brands are growing: Bhaskar Bhat

Benefits of formalisation of economy are disproportionately in our favour, says Titan MD

CX Partners eyes Rs 300 cr stake in ethnic brand Soch

These brands have raised funding from marquee investors, signalling a growing private equity (PE) appetite for a piece of the Indian ethnic wear pie.

Gucci-fever helps Kering beats sales forecast in Q4

Kering said sales rose 21.4 percent year-on-year to 4.26 billion euros ($5.25 billion) between October and December, up 27.4 percent on a comparable basis.

Tiger Shroff launches active lifestyle brand ‘PROWL’

The brand is jointly created and owned by Shroff and Mojostar, a joint venture between Kwan Entertainment and Dream Theatre.

Skechers bets on the middle class to sprint to $1 bilion in India revenue

Skechers, which entered India in 2012 through a joint venture with Kishore Biyani-led Future Group, has been doubling its business and plans to add its own manufacturing units and newer categories.

Titan eyes gross revenue of Rs 50,000 cr by FY 23

Jewellery business will continue to be the largest contributor to revenues of the company.

Jimmy Choo's India fit includes a combo of luxury, tech, and a bit of Bollywood too

Global CEO Pierre Denis feels that in India the British heritage has worked to the advantage of the brand which was acquired by Michael Kors last yer.

Titan launches integrated format store in Hyderabad

With an extensive retail network of World of Titan, Tanishq and Titan Eyeplus, the Banjara Hills store is the first integrated store in Telangana.

Walmart's Jet.com to offer Nike products in bid for urban consumers

Jet's relationship with Nike is less about the Nike product and more about how consumers go about discovering a sneaker or running shoe, Jet executives said.

PC Jeweller Q2 net profit slumps 37.76pc on poor sales

Net revenue declined to Rs 1,635.08 crore during the July-September this year from Rs 2,622.32 crore in the year-ago quarter, according to a BSE filing by the company.

Pink diamond sells for more than $50 million, setting world record

Christie's said renowned jeweller Harry Winston was the buyer. The auction house had expected to fetch $30 million to $50 million for the nearly 19-carat, rectangular-cut stone, the largest fancy vivid pink diamond that it has ever put under the hammer.

No favourites for Gautam Singhania when it comes to cars; still has a Fiat 1100 he got at 18

The one road trip that the Raymond MD Singhania is looking forward to is the Pacific Coast Highway.

Gautam Singhania steps down as Raymond Apparel chairman

"Gautam Hari Singhania has stepped down from the position of the Chairman and paved way for Nirvik Singh to take charge as the Non - Executive Chairman of Raymond Apparel Limited," the company said in a BSE filing.

Skechers aims to become Rs 1000-crore brand in India; bullish on store expansion

The company clocked Rs 220 crore in revenues in the last calendar year, and now is expecting to increase its revenue to Rs 500 crore by December 2017.

India to be the fastest growing market for Montblanc

Despite challenges in locating premium real estate in tier 2 cities for expansion, Montblanc’s sales in smaller towns have been growing through its joint venture with Indian watchmaker Titan and new ecommerce channels.

Govt plans to make gold hallmarking mandatory soon: Paswan

India has over 220 BIS-recognised assaying and hallmarking centres; and maximum of them are located in Tamil Nadu, followed by Kerala.

Macy's raises profit forecast before key holiday season

The largest U.S. department store chain, which has closed more than 100 locations and cut thousands of jobs since 2015, also reported much better than expected profit and sales for the third quarter, boosted by double-digit growth at its online shopping service.

Grasim Industries reports Q2 consolidated loss of Rs 1,299.86 cr

Its revenue from operations was up 23.76 per cent to Rs 16,795 crore during the period under review as against Rs 13,570.45 crore of the corresponding quarter last fiscal.

Levi Strauss plans to raise $800 million via IPO: CNBC

Levi Strauss said it does not comment on marketplace rumors or speculation.

Saks Fifth Avenue sets up 1,000-seat centre in India

The company's top executives, including chief accounting officer Todd Eugene Zator and chief human resources officer Janis Hamilton Leigh, have made several trips to the country to finalise the details of the centre, sources told TOI.

Bankrupt Sears wins court approval for plans to sell stores

To address the creditors' concerns, attorneys for Sears said the retailer would be considering offers for its business from liquidation firms that sell companies' assets in pieces and shut them down.

Adidas to use only recycled plastic by 2024

Adidas said on Monday that it would stop using virgin plastic in its offices, retail outlets, warehouses and distribution centres, a move that would save an estimated 40 tonnes of plastic per year, starting from 2018.

Raymond Weil expects India to be among top 5 market globally in next 4-5 years

Raymond Weil sees huge 'potential' in the Indian market, which ranks around 12 to 13 in its overall global sales, said Raymond Weil Director Olivier Bernheim.

Gold imports dip 43% to $1.68 bn in Oct

According to the commerce ministry data, gold imports had stood at USD 2.95 billion in October last year.

For Page Industries, the Only Credible Competition Can be Ourselves: Sunder Genomal

Today, Page Industries, which he founded in 1994 to bring Jockey to India and neighbouring countries, is one of the biggest wealth creators for investors.

Adidas will open bigger stores in India

According to Thomas, consumers want to come and spend more time in the bigger stores because there is more to see, more to buy and more to experience. Hence the decision was made to open bigger store format for Adidas.

Adidas signs endorsement deal with athlete Hima Das

Das will now be equipped with the very best offerings from Adidas for her racing and training needs, the company said.

The key to luxury experiences is story telling: Manmeet Vohra

Manmeet Vohra is a leading name in the luxury and lifestyle industry.

Fashion company Nine West files amended bankruptcy plan

Nine West, which owns brands such as Anne Klein and Gloria Vanderbilt, said it will also receive a three-year purchase commitment from Belk Inc for an assortment of merchandise across the company's businesses.

Clothing retailer J.Crew's chief executive stepping down

The company said Brett's responsibilities will be assumed by four senior J.Crew executives, including Michael Nicholson, the company's president and chief operating officer.

Fanatics opens India tech centre in Hyderabad

The company partners some of the largest sporting operations and clubs in the world, including Real Madrid, Manchester United, Big Bash Cricket, NBA, NFL and the Wimbledon Championships.

Jewellery exports may decline despite demand surge from Europe: Traders

In the first six months of the current fiscal, exports went down by 5% to $15.61 billion.

Will appear if I'm fit to travel: Mehul Choksi to PMLA court

Choksi is not fit to travel, so his statement can be recorded through video conferencing or ED officers can visit Antigua and take his statement, Choksi's lawyer told court.

Global, Indian investors eye Raymond land parcel

Global institutional investors and property developers are keen on the tract of land that is part of the bigger, 125-acre parcel at Thane’s Cadbury Junction.

Bata India to add 150 retail, franchise stores in 2018

"Your company plans to add around 100 new retail stores and 50 new franchise stores in the current year across India," Chairman Uday Khanna told shareholders at the 85th Annual General Meeting here.

E-commerce may contribute 30% to our revenue in 3 years: American Eagle Outfitters

The company has entered the Indian market through a licensing agreement with Aditya Birla Fashion and Retail. The company currently has three stores in India with the plans to reach 25 stores in the next three years.

GST profiteering charge against Fabindia dismissed

The GST rate for these products have been set at 18 per cent with effect from July 1, 2017.

Bata India likely to turn largest market for parent co in 2018

The Switzerland-based shoe major, the parent company of Bata India, expects India to be number one in terms of turnover, surpassing Italy, by December 31 this year.

Baggit to commence retail growth journey in Tier II, III cities

Currently holding 52 exclusive Baggit stores and 1000+ retail doors via large format stores and multi-brand outlets, the online retailer is keen to open a lot more outlets in each city of India

Adidas India to open 4-5 stadium inspired outlets this year

This format is available globally in countries such as US, UK, France, Japan and South Korea.

Shahnaz Husain Group launches herbal deodorant range

"There is no gas component in it, as compared to other deos in the market", said beauty diva Shahnaz Husain.

Crocs doesn't see local manufacturing viable in India

Teffner's statement echoes with several other foreign footwear and apparel brands that have localised manufacturing of products that can easily be made in India. For the more premium part of their portfolio that requires hi-tech manufacturing processes, these companies still rely on imports.

India among top 6 markets for Crocs: CFO Carrie Teffner

“India will grow as one of the top-tier markets because we know the potential here is fantastic,” Teffner said in an interview with ET here on Tuesday. Globally, Crocs sells 55 million pairs of footwear every year.

Will India’s diamond cutting operations shift to Israel, Belgium?

India is the world’s largest cutting and polishing centre of rough diamonds, and it is said that 14 out of every 15 rough diamonds in the world are polished here.

Liberty scion drags father, others to court over property

The 30-yr-old is demanding additional stake in all properties and assets of Liberty Footwear Group Company and HUFs, which have substantial holdings in Liberty Shoes and Liberty Footwear group firms.

Is it still luxury if it is online?

While some luxury labels are available online, many only sell in stores.

Onitsuka Tiger targets 12 stores in India by 2020

As per its strategy, it will build up a sales network by adding 3-4 stores every year on franchise model to cash in on increasing and growing appetite for luxury things.

‘Bata is a global player with strong Indian roots’

The company’s global CEO Alexis Nasard spoke to TOI about how Bata plans to shake off its traditional image and strike the right chord with the youth.

Naukri.com invests Rs 3 crore in ShoeKonnect

The funding will be deployed for strengthening its technology base to scale up operations and expansion in terms of the userbase of footwear buyers and sellers across India.

India in the top five markets for Spanish luxury brand Lladro

The Valencia-based brand entered India 13 years ago with limited edition sculptures of Hindu gods and classic pieces like cherubs and ballerinas

VIP to invest Rs 80 cr on advertisements and promotions this year

The luggage-maker has rolled out the television campaign with star cricketer Rohit Sharma for its mass luggage brand Aristocrat and is in the process to roll out another campaign for its premium brand Carlton soon.

Alcis Sports inks tie-up with FIFA

Alcis Sports, a flagship entity promoted by casual and sportswear maker Paragon Apparel, manufactures for categories including running, training and sports.

Adidas-owned Reebok cleared to open own stores in India

The move follows the government's decision to give similar approvals to Chinese smartphone maker Oppo and luxury goods retailer Louis Vuitton's this month.

WK lifestyle to enter Indian mobile phone accessories market

"We are planning to open around 200 stores in the next two years," WK lifestyle India Director Rohit Sahni told .

Crocs to cross 100 stores mark in India

India is one of the fastest growing markets for Crocs and sixth largest globally and the company is turning towards India to fuel its next phase of growth.

Sneaker Speak style culture giving a push to premium sneaker market in India

The country is seeing a rise in the subculture of sneakerheads — people who collect, trade or admire sneakers.

Reebok India says it expects license in a month or two

In November 2015, Adidas, the parent company of Reebok, had received approval to open 100 per cent foreign-owned large Adidas outlets in India.

World's 'most expensive' pair of shoes has arrived, for Rs 123 cr!

The pair is created in collaboration with UAE-based brand Passion Jewellers.

We will continue to be associated with cricket, no intent to scale back: Dave Thomas, MD, Adidas-India

The new stores are bigger and better. Our online business is growing at a healthy pace. It is a fast-growing channel.

Liberty shoes forays into lifestyle retail

Liberty Lifestyle has introduced its first range of perfumes, commencing its entry into fast growing fragrances segment, the company said in a statement.

Five platforms to satiate your hunger for luxury products

Here is a list of five platforms to satiate one's craving for luxury products:

Bang & Olufsen partner to beef up luxury portfolio with new brands

​​The company will launch Louis Vuitton Moet Hennessy's subsidiary brand Berluti Paris by November this year, besides bringing in UK-based cosmetics brand Molton Brown.

GST brings sale season forward as firms offer luxury items on discount

From July 1, luxury watches are set to get more expensive and Ethos, which retails luxury watch brands like Rolex and Dior, is on sale calling it the greatest sale of all time.

Nike returns to growth in North America, tops estimates

Nike has responded with an emphasis on new launches and selling directly to customers through its stores and online, while also partnering with Amazon.com Inc.

Ikea to make India manufacturing hub for sofas, furniture

One of the ways how Ikea plans to reduce prices of its products in India is by exporting locally-made products to its global stores to achieve economies of scale. Although the company has been sourcing from the country for 30 years for its stores worldwide, textiles constituted 70% of its exports.

Ikea to set up centralised call centre in Hyderabad

Antoni said Ikea will also be setting up its centralized distribution hub on Pune’s outskirts to cater to all its India stores. While to begin with, a nearly 200,000 sft leased warehouse will open in Pune by October-November 2017.

Ikea to open India distribution centre in Pune by December

The one-lakh square feet warehouse will supply Ikea products to all the upcoming stores in the country. The company plans to open 25 stores.

De Beers to invest $140 million for marketing in India, US, China

The increased investment will be focused on generating further consumer demand for diamond jewellery in the leading markets like US, China and India.

DLF Brands to close down women’s accessories brand Claire’s in India

The company has filed for Chapter 11 in the US and that is the reason we are closing the stores, said Timmy Sarna, chief executive of DLF Brands.

Kendall & Kylie Jenner unveil an affordable line of handbags and accessories

Their accessory line features 42 styles of fanny packs, backpacks and satchels.