New York: Macy’s forecast annual sales largely below market expectations on Tuesday on weak demand for its apparel and shoes, and said it would close 150 stores through 2026 as part of its new turnaround plan. The retailer did not provide details on the location of stores set to close or how many employees will…
Varun Muralidharan New Delhi: D2C menswear brand Snitch has appointed Varun Muralidharan as the lead retail operations and projects head, it said in a press release on Tuesday. Muralidharan has previously served as the retail manager at Bestseller India. Commenting on his appointment, Siddharth Dungerwal, founder, Snitch said, “With his innovative thinking and customer-centric approach,…
Puma on Tuesday said it expects a weak first half of the year in a challenging market, but shares in the German sportswear brand climbed as it kept its dividend and stuck to the annual targets it set in January. Sportswear companies including Adidas, Nike, and Puma, have seen demand weaken as customers battling with…
Sachin Jain The World Gold Council Tuesday named Sachin Jain its new CEO for India. Jain, who will take up the new role next month, brings with him a deep understanding of the Indian consumer and jewellery market. He joins from De Beers where he has held several senior roles over the past 13 years….
New Delhi: Piyush Goyal, Minister of Commerce & Industry, Consumer Affairs and Food and Public distribution and Textiles, has inaugurated the Brands of India pavilion by clothing manufacturers association of India (CMAI) at Bharat Tex 2024 on Tuesday. The Brands of India pavilion is showcasing more than 100 top Indian apparel brands in the domestic…
Kolkata: Leading footwear company Khadim India Ltd is expecting to complete demerger of its distribution business by September this year and hoping that its margins expand by 100-200 basis points by FY’26, an official said on Monday. This strategic move is poised to unlock substantial value for its core retail business comprising approximately 848 stores…
Fast-fashion company Shein is considering the possibility of switching its initial public offering to London from New York because of hurdles to the listing in the US, according to people with knowledge of the matter. Shein, which was founded in China but is now headquartered in Singapore, is in the early stages of exploring the…
NEW DELHI: After deploying an unprecedented 10-12 frontline warships in Arabian Sea and Gulf of Aden amid continuing attacks by Houthi rebels and Somali pirates, Navy has now undertaken “airborne insertion” of additional special forces in the region.Navy on Monday said elite marine commandos (Marcos) and inflatable crafts were airdropped from a C-130 Super Hercules…
Prime Minister Narendra Modi Bharat Tex Expo: Prime Minister Narendra Modi on Monday inaugurated the four-day Bharat Tex Expo 2024 at Bharat Mandapam, which boasts to be the world’s largest textiles event. Speaking at the marquee event, the PM highlighted the government’s focus on connecting all elements of the textile value chain with five Fs:…
(L-R) Sangeet Agrawal and Navin Parwal, founders Mokobara Internet first direct-to-consumer luggage brand Mokobara has raised $12 million (Rs 100 crore) in its latest round of funding led by Peak XV Partners (formerly Sequoia Capital India), at a valuation of $80 million post-money. ET was the first to report in September 2023 about a potential…
