The Kanpur-based group is being probed by the CBI and the ED in connection with the alleged swindling of Rs 3,695 crore of loan funds.

The total outstanding amount, according to the agency, is approximately Rs 3695 crores. The agency had sealed the office and house of Vikram Kothari’s residence, in New Delhi.

The agency filed a chargesheet in the special court Lucknow dealing with Rs 456.63 crore loan of Bank of Baroda as the probe into remaining amount is continuing, officials said, adding that more chargesheets would be filed in the case

It alleged that these assets were the "proceeds of crime" of the illegal act of money laundering.

Special CBI judge M P Chaudhary fixed June 21 for next hearing of the case.

Shaw will feature in a line of exclusive limited edition stationery, inspired by and with inputs from him.

Earlier, the loan default was estimated at over Rs 800 crore but scrutiny of documents by CBI revealed that the amount is much larger.

The Rs.13000 crore domestic bed linen market is expected to be more than Rs 19,000 cr market by 2021 and there is a scope for us to explore the domestic market at this point in time.

We will be investing approximately Rs 2-3 crore each in setting up 10 Lacasa stores covering around 40,000-50,000 sq. ft. area till 2020.

Sebi shall also appoint an independent audit firm for conducting a detailed forensic audit of the books of accounts of Ricoh for the financial year 2012-13 onwards till date, the cost of which shall be borne by Ricoh.

Kalra was earlier associated with HSIL as Senior Vice President – Sales. Prior to joining HSIL, Kalra has held leadership positions at Sintex Industries, Somany Ceramics, and Pidlite Industries.

Bed Bath and Beyond has been struggling to boost sales in the face of changing consumer preferences towards online furniture retailers such as Wayfair Inc.

Having suffered an unprecedented sales decline of 6-7 per cent in 2019-20, the industry will be up against challenges in both supply and demand sides due to the coronavirus pandemic, Panasonic India and South Asia President and CEO Manish Sharma said.

"Sales and profits of set products business, including smartphones and TVs, are expected to decline significantly as COVID-19 affects demand and leads to store and plant closures globally," Samsung said in a statement.

Documentation solutions firm Xerox today announced the appointment of Ashraf ElArman as Managing Director of its Indian unit, effective June 22.

At Myntra, Kamal was heading different verticals including logistics, operations excellence and the training function, where he built the in-house logistics team and scaled it to include more than 3500 people, spread across 80 plus towns and delivering over 100,000 packets a day.

Imports account for almost 85 per cent of the total toys' demand in the country and only the remaining 15 per cent of the sale is met by the domestic manufacturers, according to the industry.

BigThinx’s neural networks create a personalised 3D virtual avatar from 2D images for fashion brands and their customers.

The 280 billion euros ($320 billion) per year global luxury goods sector, already reeling from months of protests in the shopping hub of Hong Kong, was dealt a hammer blow earlier this year by the coronavirus outbreak in mainland China.

Dior, which is also owned by LVMH, the world's biggest luxury goods group, has been making masks since the end of last month for hospital staff.

The drop in consumption by the world's second-biggest gold buyer could limit a rally in global prices.

India’s gross import of rough diamonds had declined by 13.43% to $12.39 billion between April 2019 and February 2020 from a year earlier.

The company will continue to strictly comply with all government rules while reopening and running operations at the store. The company plans to reopen first 50 stores by 10th May, 2020.

Online retailers such as Myntra and Tjori have their consumer engagement teams working on to engage their customers till the time the lockdown eases. Others such as fashion brand Anita Dongre are brainstorming changes in consumer behaviour and how to keep them engaged online till the time stores become fully operational.

Once markets are reopened, the industry would also be braving a changing consumer spending behavior and capacity. There could be a major lag before sales begin to pick up. Fashion as a commodity is also perishable. It may be very difficult to sell the loaded inventories in warehouses, and heavy discounts would not be an attractive option at a time of slim profit margins.

The annual index by advocacy group Fashion Revolution - now in its fifth year - ranked 250 of the world's biggest brands according to how much information they disclose about their social and environmental policies, practices and outcomes.

It is a tough time for apparel retailers who are looking at zero offline revenues and a steep drop in online sales. The latest dress or the pair of khakis may not be able to save them.

The New York-based chain, known for preppy clothing at times worn by former first lady Michelle Obama, filed for bankruptcy in a Virginia federal court with an agreement to eliminate its roughly $1.65 billion of debt in exchange for ceding ownership to creditors.

International brands have begun sharing prototypes of fashion masks in cotton and blends with Indian suppliers who are awaiting a nod from the Centre to export non-surgical masks.

H&M, the world's second-biggest fashion retailer, said local currency sales had tumbled 57% in the March 1-May 6 period, while online sales grew almost a third.

Several apparel makers and fast-moving consumer goods companies had earlier stepped up to produce medical-grade masks as a philanthropic act when Covid-19 struck but now it is apparent that the pandemic is set to alter lifestyles for at least some time to come.

Harsh Noise Wally, is a sophisticated mashup mixing strips of Wally, the lazy and cynic colleague of Dilbert with some epic noise music extreme attitudes. Well conceived and assembled.

Isn’t ASCII Art a perfect form of “graffiti” in 2010s? The 8-bit aesthetics is among the strongest visual references connecting the analogue recent past with the omni-digital present, so why not adopt it to finally have some public art embedded →

Toonz has signed a deal with Tariq Albassami Group for opening 10 stores in the Gulf region in the next one year.

Malaysian kidswear brand Poney is waxing optimistic about India. But will it and other brands in the space succeed where so many have failed before?

It is alleged that the company and its officials fabricated balance sheets to avail a loan which was not repaid to the bank, they said.

Traditionally in India, baby garments like rompers, dresses, and inner-wear were purchased from small stores while branded garments were bought by the wealthy.

Amazon’s India unit has contracted 2 million sq ft while Walmart-backed Flipkart has contracted 1 million sq ft across Bengaluru, Mumbai Metropolitan Region, Hyderabad, Pune, Ahmedabad, Lucknow and Coimbatore, said multiple persons aware of the development.

In his new role, Venkataraman will be responsible for key finance operations and functions at Flipkart and Myntra, including Tax, Risk Management, and Treasury.

The Walmart-owned company said it had seen an increase in searches for consumer electronic products, including personal grooming equipment such as trimmers.

Highlighting that network capacity and higher bandwidth services have proved to be crucial, not only during the pandemic itself, but also for e-commerce and economic inclusion in general, it said in an information note: “What can WTO members do to improve communications networks and services?”

Before Viom Networks, Syed, who studied at Wharton, US, had worked with Reliance Communications, Bharti Airtel and Coca-Cola.

With this acquisition, a total of 18 outlets will become a part of O2 Spa and would be known as Zazen Spa from the house of O2 Spa.

"The consumer goods industry... is in turmoil," new Beiersdorf CEO Stefan De Loecker, who took over on Jan. 1, told a presentation to analysts. "I need to act now."

These products are manufactured in Europe. So this is an imported range which we are bringing in India. But once we build up the volume, then we may further decide on manufacturing it locally.

Jain, who will join from August this year, will be L’Oréal India’s first Indian managing director after the French cosmetics giant entered in 1991.

It was a trend investment banker Falguni Nayar was betting on when set up Nykaa to sell everything in the cosmetic and wellness category. Today she has around 750 professionals across different divisions.

This is the fourth round of fund-raising by Nykaa, which last raised about Rs 100 crore in 2016 from Max India, the Sunil Munjal family office and Harsh Mariwala.

Khosla’s mandate will be overseeing the firm’s wellness centres, personal care products and its institute of beauty and nutrition, across Middle East, Africa and CIS countries.

“India would need more than 70 lakh skilled manpower in coming months in this sector due to unleashing of economy,” Mahendra Nath Pandey said.