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29Oct By AdityaNo Comments

ACQUISITION

Owner of Gucci Offered to Acquire Tiffany & Co for $14.5 billion

French luxury group LVMH has offered to buy Tiffany & Co. for USD 14.5 billion in cash, sending shares in the New York jewelers soaring. The purchase would add another household name to LVMH's plethora of upscale brands. It owns fashion names such as Christian Dior, Fendi, and Givenchy as well as watchmaker Tag Heuer. It would also give LVMH a much broader foothold in the United States and broaden its offerings in jewelry. LVMH cautioned in a brief statement that "there can be no assurance that these discussions will result in any agreement."Tiffany said the offer was for USD 120 a share, which is about USD 14.5 billion. The Wall Street Journal first reported on the offer over the weekend. The New York-based jewelry company said that it was considering the offer. Its ...

30Sep By PriyankaNo Comments

News

Forever 21 fashion chain files for bankruptcy

Low-price fashion chain Forever 21, a one-time hot destination for teen shoppers that fell victim to its own rapid expansion and changing consumer tastes, has filed for Chapter 11 bankruptcy protection. The privately held company based in Los Angeles says it will close up to 178 stores. The company once had more than 800 stores in 57 countries. Forever 21 joins Barneys New York and Diesel USA in a growing list of retailers seeking bankruptcy protection as they battle online competitors. Forever 21 was founded in 1984 and, along with other so-called fast fashion chains like H&M and Zara, rode a wave of popularity among young customers that took off in the mid-1990s. But over the last year or so, fast fashion has fallen out of style. vivus займзайм на счет в банкезай...

13Jun By Gauri SinghNo Comments

BUSINESS

Zara Owner Inditex Improves Profitability Despite Sturdy Euro

One of the world’s largest fashion retailers Inditex, that also owns the very famous fashion brand Zara has announced on Wednesday about the improvements in its profitability for the beginning three months of the current financial year. Without being affected by all the negative currency effects, the retailer managed to increase profits. However, inadequate sales growth in the first quarter of the year discouraged the investors, along with negative currency effects and unseasonably cold weather in Europe. Because of these events, the quarterly growth rate was a mere 2 per cent, lower than rates booked during the financial crisis. But further, it has also been reported that the sales of the company were very strong in the first six weeks of the second quarter. The sales were raised by...

11Jun By Gauri SinghNo Comments

BUSINESS

FabAlley Ends Fiscal 2018 with EBITDA Profitability

The Gurugram-based online fashion-forward brand FabAlley has ended the financial year in March 2018 with EBITDA profitability with the help of its massive offline augmentation. The company exited the financial year 2017-18 with gross merchandise value (GMV) of INR 80 Cr ($11.85 Million). FabAlley is the ultimate Indian fashion destination for fashion enthusiasts and lovers, founded in 2012 by Tanvi Malik and Shivani Poddar. 30% of the revenue that accounted for the profits made its way from the offline sources. The offline channels that the company deals with include retailing services with the Future Group’s Central and Shoppers Stop retail outlets among others. “We are the first e-commerce company at our scale to have hit the profitability target. While we want to expand our offline ...

10May By Lavina TolaniNo Comments

News

Japanese Brand Uniqlo to Open Store in India in 2019

Japanese clothing retailer, UNIQLO is set to launch its first store in India at New Delhi, that will mark its international debut into the South Asia Region. Following the establishment of its Indian subsidiary Uniqlo India Pvt Ltd., the company will soon begin recruiting local talents informed as told by firm's spokesperson in a press statement. Uniqlo is a popular Japanese brand known for everyday items such as T-shirts, socks and Jeans and is owned by Tokyo based Fast Retailing Co. The parent company had filed for a licensed brand of UNIQLO with Department of Industrial Policy and Promotion last year. The company is looking forward to introducing UNIQLO brand that will offer high quality, affordable and LifeWear apparel in India and at the same time will contribute to the expansio...

2Oct By NitishNo Comments

News

Myntra’s Big Billion Days – 10 Things to Look Forward to

India's leading platform for fashion brands and a pioneer in m-commerce Myntra's Big Billion Days (BBD), is right around the corner and here are a few great picks that you absolutely can't miss at Myntra. Sanhita Dasgupta, Myntra Fashion Stylist, tells you how to dress-to-impress by picking great ethnic outfits this festive season and shares tips on styling them perfectly. Women Straight Kurta: This silhouette has officially taken over the women's fashion world. Colourblock, quirky printed or solids, the options are plenty. They are delicate, feminine and graceful, just like you. Pair them with palazzos to complete the look. Cropped Palazzos:This breezy bottom wear is exactly the thing you need in Indian weather. Comfortable yet stylish, they can take your ethnic avatar to a...