Representative image India’s home textile industry is set to stitch a 6-8% growth this fiscal year following a 9-10% rebound in revenue growth last fiscal year, a CRISIL Ratings analysis of 40 companies has indicated. These companies account for 40-45% of the industry revenue. Such a growth is anticipated on the back of resilient demand…
Nearly 200 diamond cutting and polishing factories in Surat will suspend operations for 10 days from August 18 to bring down inventory levels as exports to key markets of China and US are not picking up. China has been buying only gold since Covid-19 while the US has slowed down purchase of natural diamonds. Meanwhile,…
Zara will expand its live shopping broadcasts to the UK, Europe and the United States this year, testing a format that is already wildly popular in China but one with which Western shoppers are less familiar. The fast-fashion brand, whose parent Inditex reports quarterly results on Wednesday, is investing in new ways to engage shoppers…
Indo Count, the largest global home textile bed linen manufacturer, has signed a licensing agreement with Iconix International Inc. for Fieldcrest and Waverly branded products in the US and Canada. This strategic move further solidifies Indo Count’s position in the US market post the successful acquisition of WAMSUTTA. The new licensing agreements includes a wide…
(Representative Image) Italian luxury group Prada is not looking at big acquisitions as it is focused on the brands it already owns, its Chief Executive Andrea Guerra said on Monday. In an earlier report, Marketing director, Bertelli shared “The Prada group is and will always be looking around for opportunities”. Prada was planning to invest…
Representative Image Less than a fortnight before the deadline to weed out Russian diamonds from the world’s affluent markets, a confused, volatile trade is feeling the pulls and pressures: a rigid rule pushed by Europe to probably regain its waning influence; the emerging voices of Africa and India opposing it; and, a new, different plan…
Representative image India has asked the United States to release $26 million belonging to at least two Indian diamond firms frozen due to their alleged trade links with sanctioned Russian diamond major Alrosa, three Indian sources told Reuters. The Office of Foreign Assets Control (OFAC), the U.S. Treasury unit that oversees sanctions, froze the funds…
