Written By Rasul Bailay NEW DELHI: Jeff Bezos, the founder of Amazon, will visit India in January when he is likely to meet Prime Minister Narendra Modi. During his visit he will kick off the US retailer’s annual event around small and medium enterprises, which are perceived to be hurt by deep-pocketed ecommerce companies. The world’s largest online retailer is said to be worried about the changing ecommerce rules in India, where the Seattle-based company has invested more than $5 billion and created one of its largest foreign subsidiaries. Bezos comes calling amid protests by a group of small traders…
By 2022, the company hopes to have 2,000 operational stores. Interestingly, two thirds of these will be located in the tier III, IV, V and VI towns, in the smaller retail format — The Mini Raymond Shop. Written By Venkata Susmita Biswas Merchandising in the smaller stores will veer towards affordable price points. Raymond recently demerged its lifestyle business comprising branded apparel, branded textile and garmenting from its other businesses namely, FMCG, realty, auto components, and tools and hardware, to “unlock the potential of its textile and apparel business”. The company has been trying to make the nearly-100-year-old brand more…
Written By ET Bureau BENGALURU: US retail behemoth Walmart incurred a non-cash impairment charge of $290 million on account of it writing off its investment in fashion portal Jabong, Chief Financial Officer Brett Biggs disclosed in an earnings call. When it bought Flipkart last year, Walmart attributed 77% of Flipkart Group’s $24.1 billion in assets to intangibles and goodwill. Barring its flagship brand, Flipkart owns Myntra, PhonePe and the Jabong trade names. In 2016, Flipkart bought Jabong for $70 million in cash & has since then been struggling to figure out a definitive long-term strategy for the fashion portal. “At…
While shares of top five foreign promoter-owned FMCG companies jumped 18.9 per cent, on an average, so far this year, the top five domestic FMCG players logged negative returns Written By Nevin John HUL is the most valued FMCG company in the stock market at Rs 4.5 lakh crore The stocks of domestic fast moving consumer goods (FMCG) companies are struggling on Dalal Street compared to its foreign peers, as demand slowdown has gripped rural and urban markets. While shares of top five foreign promoter-owned FMCG companies jumped 18.9 per cent, on an average, so far this year, the top…
Written By Devangshu Dutta Retail is such a pervasive and dynamic a sector of the economy, that it is impossible to identify a single point at which modernisation began. I’ve met countless people who perhaps entered the (Indian) retail sector during the last 15 years, and who mark the beginnings of modern retail around then. There is no doubt that there has been an explosion of investment in retail chains in the last 2 decades, but we need to acknowledge the foundation on which this development is built. The current titans of the sector are standing on the shoulders of…
Geopolitical friction has again sparked renewed concerns over inflation and rising input costs for FMCG companies as @itmeansjustice @whysnavi write. @devangshu commented.
