Zovi, an India-based online men’s fashion retailer, has raised 50 million dollars to build a mobile-only app to list a large number of “hyper-local” deals offered by offline merchants to consumers online. The fundraising has been led by One97 Communications, which operates Paytm, a mobile wallet and […]

REPORT Revenue for the second quarter at Crocs was 345.7 million dollars. On a constant currency basis, revenue decreased 1.1 percent as compared to the prior year. Net income attributable to common stockholders on a GAAP basis was 9.7 million dollars per diluted share and earnings per share were 11 […]

The Union Cabinet has approved amendments to the Constitution (122nd Amendment) Bill to launch the goods and service tax (GST), after incorporating some changes suggested by the select panel of Rajya Sabha. The GST Bill may get passed in the Parliament’s ongoing monsoon session if the opposition allows […]

REPORT Skechers USA reported that its second quarter 2015 net sales were 800.5 million dollars compared to 587.1 million dollars for the second quarter of 2014. Gross profit was 374.6 million dollars, or 46.8 percent of net sales, compared to 269.4 million dollars, or 45.9 percent of net sales, for […]

As ecommerce firms focus on profitablity while initiating measures to expand offerings and improve market share, leading marketplace, Tiger Global-backed ShopClues plans to position its ecommerce operating system on cloud. To help its existing sellers expand their offline reach, ShopClues will aggregate […]

REPORT LVMH Moët Hennessy Louis Vuitton posted revenue of 16.7 billion euros (18.4 billion dollars) in the first half of 2015, representing an increase of 19 percent. Organic revenue growth was 6 percent compared to the same period in 2014. The group recorded strong growth in Europe and the United States. […]

Reliance Retail, the retail division of Mukesh Ambani-led Reliance Industries, has reported around 19 percent rise in profit before depreciation, interest and taxes (PBDIT) in the first quarter of fiscal 2016. The company has been performing well amid tough competition from ecommerce firms and low consumer […]

Flash fashion website Fashionandyou.com has attracted 50 million dollars or Rs 300 crores in funding, through a fresh round led by US-based investment fund Morgan Creek Capital. The e-tailer also got 10 million dollars from Vip.com, China's largest flash sale retailer listed on the NYSE, where Morgan […]

The country’s largest online marketplace IndiaMart that provides a platform to connect buyers with suppliers, aims to grow its business by partnering with MSMEs from an estimated Rs 20,000 crores in 2014-15, to Rs 30,000 crores in FY-16. The platform has also signed in actor Irrfan Khan as the company’s […]

REPORT In the second quarter of 2015, Puma’s consolidated sales improved by 7.6 percent currency adjusted to 772.7 million euros (844.8 million dollars). This positive development was primarily driven by the growth in footwear sales across all regions. In reported terms, consolidated sales rose by 18.5 […]

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