Beleaguered edtech giant Byju’s has sought arbitration through the National Company Law Tribunal (NCLT) to resolve its financial dispute with the Board of Control for Cricket in India (BCCI). While claiming to pursue an amicable settlement, Byju’s hopes arbitration will address both legal and factual aspects of the case with greater confidentiality and control.In 2019,…
Birkenstock beat analysts’ expectations for fourth-quarter sales and forecast annual revenue above estimates on Thursday, in the German luxury sandal maker‘s first results since going public, betting on higher pricing and strong demand. The company’s sandals and clogs retail for as much as $350 a pair, and the strong results follow signs of ebbing global…
Richemont ZURICH: Richemont has restarted its attempt to offload its online fashion and accessories retailer Yoox Net-A-Porter (YNAP), Chief Financial Officer Burkhart Grund said on Thursday after the Cartier owner posted its Q3 results. “We’re preparing the process to identify a future majority shareholder or a majority that can go up to 100% for YNAP,”…
ZURICH: Cartier owner Richemont enjoyed a surge in sales in China in its latest quarter, signalling on Thursday the resilience of the high end of the luxury market and sending shares of the Swiss watch and jewellery maker sharply higher. China’s cooling economy and ongoing property crisis have been a worry for the sector which…
Michael Burke PARIS: LVMH veteran executive Michael Burke has been appointed chairman and chief executive of LVMH Fashion Group, overseeing the luxury goods group’s fashion labels, it said on Thursday. Burke – chairman and CEO Bernard Arnault’s longest-serving lieutenant – replaces long-time Fashion Group head Sidney Toledano, who was named advisor to Arnault and will…
Representative image. Surat: Facing global slowdown, the country’s gem and jewellery trade is expecting various reliefs from the government in the next Union budget. The Gem & Jewellery Export Promotion Council (GJEPC) has proposed several recommendations to the government in this regard. According to GJEPC, the industry sustains around 4.3 million jobs and contributes 10…
Stock market today: BSE Sensex and Nifty50 resumed surged in trade on Friday after three continuous days of decline this week. While BSE Sensex surged over 650 points, Nifty5 crossed the 21,600 level. At 9:28 AM, BSE Sensex was trading at 71,837.84, up over 650 points or 0.91%. Nifty50 was up over 190 points or…
IMPHAL: A father-son pair was among three farmers fatally shot by suspected militants while tilling their fields in a village of Manipur’s Bishnupur around 4.30pm on Thursday, stretching a sequence of violence that started early Wednesday with two police commandos being killed in Moreh and a village defence volunteer later dying in a gunfight in…
New Delhi: Footwear retail chain Metro Brands on Thursday reported a 12.57 per cent decline in consolidated net profit to Rs 98.78 crore for the third quarter ended December 2023. The company had posted a net profit of Rs 112.99 crore during the October-December period a year ago, according to a regulatory filing from Metro…
Representative image Demand for lifestyle products and apparel remained weak despite retailers offering discounts of as much as 65% during their ongoing end of season sales (EOSS). Most brands also advanced their EOSS by two weeks to early December compared to January, hoping to mop up sales before ecommerce platforms begin their Republic Day sales….
