el

Golf day a GR8 success for homeless services

Fundraising day will help provide assistance for region's vulnerable sleepers.




el

New restaurant for Sandwell Valley golf course

Brand new restaurant at Dartmouth Golf Course set to tee-off.





el

Jewellery Quarter lights up for Christmas

Christmas lights and festive displays to add retail cheer.





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Moseley Community Festival goes gold

One of Birmingham’s oldest community-run festivals celebrates its fiftieth anniversary.





el

Cycle Hire arrives on the streets of Sandwell

Latest stage of planned rollout across the West Midlands.





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Shreyas Srinivasan, Paytm CPO and founder of Insider.in, bids farewell to the unicorn; shares heartfelt message

Shreyas Srinivasan, Paytm's Chief Product Officer, has announced his departure from the company after more than ten years. His exit comes after Paytm sold its ticketing platform, Insider.in, to Zomato. Srinivasan played a key role in Insider.in's growth, from its inception to its merger with Paytm.




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10-minute delivery and the gifting industry: A perfect match or just a quick fix?

Across the board, gifting companies recognize the impact of quick commerce on consumers’ habits, particularly for last-minute, spontaneous needs. However, they note that quick commerce platforms struggle to meet the demand for customized or personalized gifting.




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ED searches sellers using Amazon, Flipkart platforms in FEMA probe

The action is related to the financial transactions being done by some of the "preferred" vendors and sellers who do business through Amazon and Flipkart like e-commerce platforms.




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Public digital infrastructure helped micro level players grow in India: FM Sitharaman

"The government has come up with Open Network for Digital Commerce (ONDC), an open network for digital commerce that is helping even the bigger e-commerce businesses," said Union Finance Minister Nirmala Sitharaman.




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Amazon Seller Services cuts net loss by 28% in FY24

The company’s revenue growth during the year picked up after it reported only 3% growth in FY23. Earlier, ET had reported that Flipkart Internet, the marketplace unit of the Walmart-owned retailer posted revenue growth of 21% in FY24.




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B2C commerce startup Wheelocity raises $15 million from Lightspeed, others

The new funding will support Wheelocity’s plans to expand operations across 20,000 towns and villages in southern India over the next year, aiming to reach a user base of 10 million.




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Amazon developing driver eyeglasses to shave seconds off deliveries, sources say

Amazon's delivery glasses, the people warned, could be shelved or delayed indefinitely if they do not work as envisioned, or for financial or other reasons. The sources said they may take years to perfect. "We are continuously innovating to create an even safer and better delivery experience for drivers," an Amazon spokesperson said, when asked about the driver eyeglasses. "We otherwise don't comment on our product roadmap."




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Flipkart deployed over 10,000 electric vehicles in delivery fleet

The strategic adoption of EVs has resulted in substantial operational efficiencies, lowering the cost per order at the hub level and improving the last-mile delivery speed by 20 per cent, compared to conventional delivery vehicles, Flipkart said.




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FSSAI steps up scrutiny on quick commerce companies over product shelf life

India's food safety regulator directed e-commerce and quick commerce companies to follow shelf life guidelines for packaged food deliveries. The regulator emphasized a minimum remaining shelf life of 30% or 45 days upon delivery. This action follows complaints about companies not disclosing expiry dates. The regulator stressed the importance of clear expiry dates and adherence to labeling regulations.




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Trump says he will nominate Kristi Noem for homeland security secretary




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Noel joins board of Tata Sons; first Tata family member since 2011 to serve on both boards at once

Noel Tata, newly appointed chairman of Tata Trusts, has joined the board of Tata Sons as a nominee director. This marks the first time since 2011 that a Tata family member holds positions on both boards concurrently. Tata Trusts, with its 66% stake, is the largest shareholder in Tata Sons, the holding company of the Tata Group.




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GDP likely to grow 6.2 pc in Q2: Barclays

India's economic growth is projected to slow to 6.2% in the second quarter of 2024-25, due to a high base effect and heavy rainfall, as per Barclays' estimates. While government spending and rural consumption are picking up, urban demand and private investment remain weak. Barclays has revised its GDP forecast for 2024-25 to 6.8% from 7% earlier, expecting a recovery in the second half of the year.




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Reliance Retail shutting down Centro outlets temporarily

Reliance Retail is temporarily closing its Centro stores across India to revamp the format. The company plans to prioritize its own brands, like Azorte and Yousta, potentially phasing out some of the 450 local and global brands currently sold.




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TTK Prestige elevates Venkatesh Vijayaraghavan to MD

TTK Prestige has promoted Venkatesh Vijayaraghavan to managing director. Venkatesh, who was previously CEO, takes over from Chandru Kalro. The company expects to grow under Vijayaraghavan's leadership, focusing on consumer delight and innovative products. Venkatesh has held leadership roles at Cavinkare and Airtel before joining TTK Prestige.




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Tupperware cancels auction, agrees to lender takeover

Tupperware Brands agreed to sell its business to a group of lenders for $23.5 million in cash and over $63 million in debt relief, avoiding an open-market auction. The sale comes after Tupperware filed for bankruptcy with $818 million in debt and faced opposition from some lenders regarding its proposed auction.




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'Akzo Nobel open for partnership or India ops sell-off '

Akzo Nobel, Europe's leading paint manufacturer, is exploring options to either partner with a larger company or sell its Indian operations. Akzo Nobel's aim is to navigate the consolidation in the South Asian paint market. The company currently holds a 5% market share in India with its Dulux brand and seeks a collaborative approach for future growth.




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Sheela Foam Q2 revenue grows 32% driven by strong B2B and B2C performance

Sheela Foam, maker of Sleepwell and Kurl-on mattresses, reported a consolidated net profit of Rs 9 crore on revenues of Rs 813 crore in Q2 FY25. The company saw a 32% year-on-year revenue increase, driven by a 19% rise in mattress volume.




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Dulux Paints maker Akzo Nobel India's Q2 profit rises on automotive sector demand

Akzo Nobel India reported a 14% increase in net profit to Rs 108.7 crore in the fourth quarter, driven by higher demand from the automotive sector. Despite muted retail demand due to higher rainfall and price hikes, the company's revenue from operations rose 3% to Rs 9.82 billion.




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10-minute food rush - The next big bite in delivery?

Bengaluru-based startup Swish, recently raised USD 2 million to scale its 10-minute food delivery operations. "We have raised $2M from Accel plus some angel investors," Aniket Shah, founder, Swish confirmed to ETRetail. Shah founded Swish in August 2024, alongside Ujjwal Sukheja, and Saran S.




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India's electronics manufacturers eye a Trump boost

US President Donald Trump's second term may benefit India's electronics industry. The US plans to impose tariffs on Chinese electronics, encouraging companies to seek alternative manufacturing hubs. India, with its growing manufacturing sector, stands to gain. Experts believe this shift could lead to increased electronics exports from India to the US. However, concerns remain about India's capacity to handle the potential surge in production.




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Bajaj Electricals posts Q2 profit fall on weak demand

Bajaj Electricals experienced a 59% drop in second-quarter profits, attributing the decline to weaker demand for cooling products due to monsoon rains. Despite a slight revenue increase, the company's profits were impacted by reduced demand and cost-of-living pressures. Analysts anticipate a demand resurgence in the December quarter, fueled by festive season promotions.




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Sony PlayStation 5 Pro launch in India cancelled due to 6GHz

The gaming console uses Wi-Fi 7, a wireless standard that uses the 6GHz band for connecting to the internet. However, the band itself is embroiled under controversy with telecom operators pushing for it to be reserved for mobile internet services.




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Government mulls 5% cut in electronics imports to boost domestic production from FY25: sources

Although stakeholder discussions are still going on, the 5% cut of the total import quota will be implemented from April 1 of the upcoming fiscal. This cut is based on the data provided by the Directorate General of Commercial Intelligence and Statistics.




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Consumer electronics firm Sault expects to double its volume in FY25 to 5 lakh units

Sault, a new consumer electronics company, is set to significantly increase its sales volume by FY25. Focusing on tier-2 towns, the brand plans to expand its reach within western India and eventually target southern markets. Sault will incorporate in-house manufacturing for certain products while continuing partnerships for others, aiming for nationwide expansion and exploring digital sales channels.




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Elista targets Rs 1,500 crore revenue by 2026

Indian consumer electronics brand Elista plans to expand globally. The company aims to generate Rs 1,500 crore in revenue by 2026. Elista will expand its presence in over 35 countries in the next two years. The brand recently entered the Tanzanian market.




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Branded stationary going to do really well; DOMS can comfortably achieve 15.5-16% margins

“We have been able to grow a little from 15.4% to 16.7% in H1. But this is coming more from the operational efficiencies point of view. And also a very little from probably I can say, there is an advantage currently where the raw material prices are at most low. This is the advantage we have been able to get in H1. ”




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Growing our online channels further remains a priority for us, says Manos Nikolakis, GM, BIC Cello

Manos Nikolakis, GM, BIC Cello, said, "While e-commerce is growing significantly across the country, the landscape of the Indian market is still heavily reliant on traditional trade. Accordingly, this remains our main sales driver. The lack of digital penetration in semi-urban and rural areas can sometimes create a challenge in the e-commerce space, which means that e-commerce is mostly relevant in bigger cities with a more mature infrastructure."




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Online hyper-local marketplace Inknibs plans to deliver stationery in 60-min across select cities

“With this expansion, we are excited to connect with even more individuals and families, offering them a curated selection of products that inspire creativity and enrich everyday life," said Divyanshu Solanki, founder and CEO of the company.




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Bombay HC grants temporary relief to Pidilite in Dr Fixit trademark dispute

Mumbai-based Pidilite Industries, the maker of Fevicol and M-Seal adhesive brands, has approached the court to restrain Dubond Products from allegedly infringing its registered trademarks, copyright and passing off for its waterproofing brand Dr Fixit LW.




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Trademark dispute over tiffin box: Delhi HC takes notes of CELLO's intent to resolve suit amicably

Shree Vallabh Metals in October 2023 had secured an injunction from Delhi HC against the use of the MAX FRESH trademark by Cello Plastic Industrial Works.




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Cello World launches Rs 737 crore QIP

The term sheet indicates an indicative issue price of Rs 852 per share and a floor price of Rs 896 per share. Cello World’s stock closed at Rs 961 on July 3, indicating that the QIP is being launched at an 11% discount to the last closing price.




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With rising luxury spending abroad, luxury brands go extra mile to tap Indian travellers

Indian travelers are increasingly splurging on luxury goods while abroad, with spending in this category skyrocketing by 250% in recent years. Travel companies and luxury brands are responding by incorporating premium shopping experiences into their itineraries and offering exclusive perks to attract Indian shoppers.




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Consumer sentiment relatively muted in Q2: Noel Tata, Trent chairman

Trent Limited, a Tata Group company, witnessed a 40% rise in net sales for the quarter ending in September. The retailer's revenue reached Rs 4036 crore, while net profit saw a 46% increase to Rs 423 crore. Despite the growth, consumer sentiment remained subdued. Trent opened 43 new stores during the quarter, expanding its presence to 184 cities.




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Relaxo Footwears net profit declines 17% in Q2 FY25

Relaxo Footwears recorded a 17 percent drop in net profit to Rs 37 crore for the second quarter ending September 30. Revenue also decreased by 5 percent to Rs 679 crore. The company attributes the decline to lower demand and increased competition from unorganized players. Relaxo plans to add more distributors and optimize operations for future growth.




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Trump's return likely to bolster India's textile trade with US: Industry

The Confederation of Indian Textile Industry (CITI) on Monday said the return of Donald Trump as the next US President will bolster India's textile and apparel trade with its largest international market.




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Kalyan Jewellers Q2 PAT dips 3.3%; YoY revenue up 37.3% at Rs 6,065.4 crore

Kalyan Jewellers saw a 3.3% dip in consolidated net profit, reaching Rs 130.32 crore in Q2 FY25, compared to the same period last year. Despite this, revenue from operations rose to Rs 6,065.4 crore, contrasting with Rs 4,414.53 crore in Q2 FY24. Ramesh Kalyanaraman, executive director of the company said, "We recorded SSSG in excess of 20 per cent for the Diwali minus 30 days period when compared to the base year. ​​We are upbeat about the ongoing wedding season across the country and hope to end the calendar year on a very strong note."​​​​




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D2C beauty tools firm Beauté Secrets raises Rs 1.6 crore in debt from Velocity

Beauté Secrets, a D2C beauty tools firm, has secured Rs 1.6 crore in debt from Velocity to expand its presence on quick commerce platforms and introduce new products. Founded in 2010, the company plans to enter major retail outlets and launch new beauty tools, leveraging its sustainable profits for growth and expecting a festive season boost.




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Reliance Retail's Tira partners with Nayanthara's 9Skin

9Skin, co-founded by actress Nayanthara, partners with Reliance Retail's Tira to expand into offline retail in India. This collaboration launches the exclusive Skinderella Hydrogel Mask. The partnership aims to offer innovative, natural skincare solutions, now available both online and offline through Tira's network.




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Elf Beauty lifts annual forecasts on resilient cosmetics demand, shares up

Net sales rose 40% to $301.1 million for the quarter ended Sept. 30, compared with analysts' average estimates of $285.8 million, as per data compiled by LSEG.




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Govt steps help boost toy exports, manufacturing; more work needed: DPIIT Secy

Government initiatives, such as mandatory quality control orders and increased customs duties, have significantly boosted India's toy exports, but further efforts are needed, according to DPIIT Secretary Rajesh Kumar Singh. He mentioned ongoing efforts to include the toy sector in the production-linked incentive (PLI) scheme, with a proposed budget of Rs 3,489 crore, to enhance domestic manufacturing.




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We were at it for 14 years: FirstCry CEO Supam Maheshwari on stellar market debut

“Subscription, oversubscription, listing gains, do not matter much to me, personally. What matters is this milestone of launching the IPO, which gives a feeling of accomplishment to all our families, and extended families. I am sure performance will always proceed when it comes to the outcome in terms of numbers on the stock market. So, that is okay,” Supam Maheshwari, cofounder and CEO of the Pune-based company, told ET on the sidelines of the listing ceremony.