LABEL Issue III
NEWS
Top Stories
Hennes & Mauritz gets government
nod to invest Rs 720 crores in India
US apparel retailer Gap in joint
venture talks with Arvind Brands
Swedish retailer Hennes & Mauritz has
received final approval from FIPB to invest Rs
720 crore ($115.2 million) in the country,
according to a government statement.
Gap Inc, the largest casual wear retailer in the
US, looks set to enter the Indian market next
year through a joint venture with Arvind
Brands, two people familiar with the
development said.
Walmart to expand tech centre at
Bangalore as it takes on ecommerce rival Amazon
Luxury brands Godiva, Faberge
eye India expansion
The world's largest brick-and mortar retailer
Wal-Mart is banking on India by expanding its
Bangalore-based technology centre as it takes
on e-commerce rival Amazon. The Bangalore
centre which currently employs 400 people,
will more than double its headcount by the end
of next year, according to people with direct
knowledge of Walmart's India hiring plans.
Kishore Biyani bets big on
fashion business, eyes Rs 7,000
crore revenue next year
Future Group founder Kishore Biyani said he
expects to clock Rs 7,000 crore from the
fashion business in the next financial year. He
said 'Fashion at Big Bazaar' will be
contributing Rs 3,000 crore and 'Future
Lifestyle Fashion' the balance Rs 4,000 crore
next fiscal.
Two major luxury brands, Godiva chocolates
and Faberge jewellery, have unveiled their
plans to expand their presence in the emerging
Indian market. While the Belgian chocolatiers
will kick off with a store soon, Faberge aims to
build on its gem-cutting base in Jaipur.
Retail plans after Walmart
separation completion: Bharti Enterprises
Bharti Enterprises will decide on its future
course of expansion in the retail sector once its
ongoing process of separation with partner
Walmart is completed, said company ViceChairman and Managing Director Rajan Bharti
Mittal.
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