PARIS: Early holiday shopping season discounts from high-end fashion retailers like Bergdorf Goodman on New York’s Fifth Avenue raised concern that a lacklustre Christmas could lead to inventory gluts – potentially dragging labels into a discounting spiral that would cheapen their image. The latest U.S. credit card data from Barclays released on Wednesday showed that…
From left: Agilitas Sports founders Abhishek Ganguly, Amit Prabhu and Atul Bajaj Agilitas Sports, the sportswear and athleisure products platform started by former Puma India head Abhishek Ganguly, has raised Rs 100 crore in new funding from venture capital fund Nexus Venture Partners. As part of the investment, Suvir Sujan, MD, Nexus Venture Partners, will…
NEW DELHI: Republican-controlled US House of Representatives voted to initiate a formal impeachment inquiry into President Joe Biden in connection to allegations surrounding Biden’s son, Hunter Biden, and his controversial international dealings. President Biden swiftly dismissed the move as a “baseless” political stunt, emphasizing the lack of evidence provided by Republicans to support claims of…
WASHINGTON: The US Federal Reserve voted Wednesday to hold interest rates at a 22-year high for a third straight meeting and signaled it expects to make three cuts next year.The Fed’s decision to keep its key lending rate between 5.25 percent and 5.50 percent allows policymakers to determine “the extent of any additional policy firming…
With Zara-owner Inditex and H&M set to disclose their most recent sales results, investors will be focused on one major question: how are the two fast-fashion pioneers responding to the current market leader, Shein? Shein has a huge valuation and is primed for an IPO. With sales almost entirely online, the retailer generated about $23…
Motisons Jewellers has fixed a price band of Rs 52-55 for its IPO, which opens for subscription on December 18. The issue will close on December 20. At the upper end of the price band, the company plans to raise Rs 151 crore. Investors can bid for a minimum of 250 shares in one lot…
MADRID: Zara owner Inditex said on Wednesday its net profit jumped 32.5% in February-October, but the fast fashion giant’s sales growth in the nine-month period slowed down from a year ago amid tougher times for consumers. The world’s biggest fashion retailer said its net profit was 4.1 billion euros ($4.42 billion) as expected by analysts,…
NEW DELHI: Reeling under BJP’s aggression after assembly wins in the Hindi heartland states and waiting for the inauguration of Ram Temple in Ayodhya, the SC verdict on Article 370 on Monday provided another polarising issue that is likely to send the INDIA bloc back to the drawing board ahead of the Lok Sabha elections.The…
NEW DELHI: The government on Monday withdrew the three criminal justice bills from Parliament and said they would be redrafted and introduced afresh after incorporating recommendations made by the parliamentary committee in its reports on November 10.The Centre made the announcement in a statement on the Parliament portal for MPs, stating that the bills, introduced…
A proposed bill in the US Congress has found its resonance in India. Telecom industry body Cellular Operators Association of India (COAI), whose members include Airtel, Reliance Jioand Vodafone-Idea, want the the government to adopt a similar bill. So what exactly is this bill? The bill sponsored by US Senators Markwayne Mullin, Mark Kelly and…
