Rotomac violated FEMA rules and worked for interest rate differential in local and foreign currency in the guise of trade without having any genuine business transactions.

"Some part of Kurl-on's business did get cannibalized with the opening of IKEA's first store in Hyderabad, but it is not a cause of worry," Sudhakar Pai, Chairman and MD, Kurl-on says.

According to the notification, companies that make phones priced at ₹15,000 and above and which make a cumulative investment of ₹1,000 crore over four years, starting with ₹250 crore in the first year, will qualify for an incentive of 6% for the first two years, followed by 5% for the next two and 4% in the fifth year..

​​Individually, each brand is seeking more clarity and approval on the guidelines. The guidelines say that we would have to open in a phased manner. All brands are gearing up to open up, wherever, it will be permitted," CEAMA President Kamal Nandi said.

Several brands took the decision since both offline and online market is closed leading to piling up of inventory in their warehouses, and several of their plants falling in red zones or in states where permission has not yet been given. Some states like Tamil Nadu, Telangana and Karnataka have also decided to not provide any relaxation to industries till the lockdown ends.

"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.

Major retail chains including Viveks, Shahs, Girias, Vasanth and Co are among the signatories of the letter, which fears job losses might start impacting one lakh of families, besides a steep drop in direct and indirect tax revenues to the state.

According to officials, retail demand started to build up gradually. In some cases, people were completing prelockdown transactions and others new ones.

Hanung Toys and Textile Ltd owes Rs 2,300 crore from a consortium of 15 lenders led by state-owned PNB, which alone has exposure of Rs 599 crore.

​​H​​anung Toys and Textiles Ltd (borrowing account) dealing with the bank since 2008 had availed various credit facilities under consortium arrangement wherein, Karnataka Bank was one of the member banks, it said in a regulatory filing.

The Centre, in the Union budget presented by Finance Minister Nirmala Sitharaman, has proposed raising the import duty on toys from 20 per cent to 60 per cent from the next fiscal, saying that the step would support the MSMEs and promote local manufacturing.

Myntra has launched toys from the stables of Hot wheels, Funskool, Lego, Barbie and Simba on its platform.

The company has also held discussions with Cupertino based tech giant Apple for what could be the iPhone maker’s second flagship store in the country to be located at Aerocity near IGI Airport, sources said.

Good Earth is now a prominent go-to destination for home decor enthusiasts and interior designers alike as it offers something for everyone.

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.

At its star Gucci label, which powers most of its profits, like-for-like sales were down 23.2% in the period, contrasting with a less pronounced 13.8% drop-off at Kering's Saint Laurent brand.

We foresee a deferred demand. Most of the weddings in Q1 got pushed to Q3 or Q4 due to the lockdown. People may spend less money on destination weddings, clothes and other events around it. But we expect investment in jewellery for weddings, said Ajoy Chawla, CEO of Titan’s jewellery division.

The 49-year-old, who has been lodged at Wandsworth Prison in south-west London since his arrest last year, appeared before a UK court via videolink.

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.

According to the World Gold Council's (WGC) Q1 Gold Demand Trends report, in terms of value India's the first quarter gold demand fell 20 per cent to Rs 37,580 crore, compared to Rs 47,000 crore in the same period of 2019.

On March 24, the company had decided to temporarily close its manufacturing operations at the two units with immediate effect till further notice following announcement of nationwide lockdown to curb spread of coronavirus pandemic.

The body has appealed to Prime Minister Narendra Modi and state chief ministers to facilitate payement of wages to workers for these two months. GEMA president Vijay Jindal also sought intervention of Textile Minister Smriti Irani and Finance Minister Nirmala Sitharaman in the matter.

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.

In a letter to Civil Aviation Minister Hardeep Singh Puri, he said the council members could not clear the shipments on time because of lack of documents, "therefore, demurrage waiver may please be granted starting from March 1 till the time lockdown continues".

According to exporters, payments of previous dispatches are also withheld by importers in the UK and Europe. These exporters employ about 50,000 people, and 60% of them are women engaged in tailoring, thread-cutting and other hands-on work.

Next said store sales plunged 52% in the 13 weeks to April 25, its fiscal first quarter, while online sales were down 32%.

The council had recently organised a webinar on 'Manufacturing of PPE Products under Medical Textiles', which saw about 2,000 participants, mainly apparel exporters from across the country.

Macy's, like many retailers, has had to close its stores, furlough employees, suspend dividend and tap into credit facilities to survive the financial hit caused by the lockdowns.

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"We are moving more towards omni-channel, and the drive is well underway. Within the next year we will complete the transition," he added.

Earlier this month, Ratan Tata had invested in Tracxn Technologies and followed it up with pet care portal DogSpot and online cashback and coupons venture CashKaro.

Timmy Sarna, CEO at DLF Brands, said the company has made Kidskart dormant since it wants to focus on brick and mortar retail which is the key focus area.

Toonz is also launching new collection of its home brand Wowmom, Superyoung and Superyoung Celebration.

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

Until late Sunday, only a handful of states including UP, Maharashtra, Rajasthan, Karnataka, Tamil Nadu, Gujarat, Odisha, Delhi and Uttarakhand issued notifications on the lines of MHA’s Friday order.

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.

​​​The intention is to bring all B2B, B2C, consumer-facing, consumer-based content platforms, apps-based commerce and IoT device-based services under the policy, potentially engulfing products like the Amazon Echo, which is powered by artificial intelligence-driven virtual assistant Alexa, and MG Hector, the Internet-enabled vehicle from Morris Garages in the regulatory realm of e-commerce.

Sources in the company said, McNeal’s role will now be divided between Sriram Venkataraman, who is expected to take over as the CFO of Flipkart as well as the fashion etailer Myntra, and Adarsh Nahata who is currently PhonePe’s CFO.

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?”

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.

Nykaa currently offers a limited selection of products under men’s grooming on its main portal with the category being one of the fastest growing ones for the firm.

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.

The latest round of funding was led by the startup’s existing backer Harminder Sahni, founder of consultancy firm Wazir Advisors, Lets Ventures’ Mohit Bajaj and Calcutta Angels.

The company said its plant at Sanand in Gujarat which originally manufactures skincare products for the India market has begun production of alcohol-based hand sanitisers, and it will be shifting part of its production towards the making of sanitisers at the plant.

Sanitisers, available in two sizes 50 ml and 500 ml, are marked at a price of Rs. 25 and Rs. 250 respectively, the company said. In addition to pharmacies, general stores, and VLCC wellness centers, customers can also buy VLCC hand sanitisers from e-commerce platforms such as Amazon, Flipkart, Snapdeal and Nykaa.

“The export of all ventilators including any artificial respiratory apparatus or oxygen therapy apparatus or any other breathing appliance/devices... is prohibited with immediate effect,” the the Directorate General of Foreign Trade (DGFT) said in a notification.

The startup, backed by Ratan Tata's investment platform RNT Capital, confirmed his appointment.

This partnership will leverage Talwalkars' infrastructure to promote Mehta's wellness offerings and intellectual property and also help expand the footprint of Mehta's brand.