Written By MONEYCONTROL NEWS The biggest winner in terms of sales was BigBasket, which accounted for 50 percent of the sales growth followed by DMart, Grofers, Spencer’s Retail and StarQuick (Tata) Representative Image (Reuters) Online grocery sales for the largest online and offline retailers grew by a combined 65 percent to Rs 6,820 crore in FY20, while collective losses measured Rs 1,175 crore. The biggest winner in terms of sales was BigBasket, which accounted for 50 percent of the sales growth, followed by DMart, Grofers, Spencer’s Retail and StarQuick (Tata), a report by The Economic Times said. Moneycontrol could not…
Written By Amaan Khanna The news of Jeff Bezos stepping down as the CEO of Amazon.com, Inc. (NASDAQ: AMZN) sent shockwaves across the entire business community. It is being gauged that the move will surely result in ripple effects affecting various global destinations where the e-commerce behemoth operates. So, what’s in store for India post the change? Well, according to industry experts not much, as Amazon had long identified India as a strategic market to expand way back in 2013. Devangshu Dutta, Chief Executive at Third Eyesight, a consulting firm said that the switch in position will not really have…
Written By Aishwarya Ramesh In the light of Aditya Birla Fashion and Retail acquiring designer brand Sabyasachi, we explore the tenets of building a luxury versus a mass market brand. Aditya Birla Fashion and Retail (ABFRL) has announced a strategic partnership with Sabyasachi by signing a definitive agreement for acquiring 51 per cent stake in the latter. Sabyasachi is India’s largest and most influential luxury designer brand, with strong Indian roots and global appeal. The brand straddles categories such as apparel, accessories and jewellery, and has a strong franchise in India, US, UK and the Middle East. The ABFRL platform…
Written By DEBOJYOTI GHOSH Sabyasachi Mukherjee, founder, Sabyasachi Couture Sabyasachi Mukherjee has made it to the top of the couture sweepstakes. And now, with a new partner in Kumar Mangalam Birla-led ABFRL, the designer aims to expand his brand to the larger mass market. Over the last two decades, Kolkata-based fashion designer Sabyasachi Mukherjee didn’t allow outside funding into his business which is now almost synonymous with Indian luxury wedding fashion. Years ago, L Capital (now L Catterton, the $20 billion private equity firm co-founded by LVMH) wanted to back the luxury fashion house but, for Mukherjee, it was too…
Written By Devika Singh As demand for formal footwear dips, brands shift focus to casual wear such as flip-flops and slides Overall, industry watchers predict that the footwear market will be out of the woods by mid-2021. The pandemic has forced footwear brands to retrace their steps. As sales of formal footwear declined, with consumers working from home, the spotlight has fallen on casual footwear. Footwear manufacturers such as Lakhani Footwear, Red Chief and Metro Brands (which houses Metro Shoes), Mochi and Walkaway, have rejigged their strategy in the past year to suit this trend. According to Ayyappan Rajagopal, head…
Geopolitical friction has again sparked renewed concerns over inflation and rising input costs for FMCG companies as @itmeansjustice @whysnavi write. @devangshu commented.
