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Lab-grown diamond producer Lusix raises 90 million US dollars

Israeli-based lab-grown diamond producer Lusix has completed an investment round of 90 million US dollars involving high-profile investors including LVMH Luxury Ventures. In a statement, Lusix said that the round was led by the French luxury conglomerate’s investment arm LVMH Luxury Ventures, alongside Israeli’s Ragnar Crossover Fund and...

Business

More store chain narrows net loss with sales boost

Aditya Birla Retail, owner of the ‘More’ supermarket chain, has reported a tremendous increase in sales for the past year as against the previous year. Sales from 2016 to 2017 was Rs 4,194 crore making their net profit growth stand at 148.75 as against 51.89 the year before. This sales increase, made possible through their ‘More’ brand, has...

Business

Aditya Birla Retail’s to be profitable by next year

Aditya Birla Retail expects to become profitable at the company level by next year. It has a strong double-digit, like-to-like growth based on various initiatives focused on the consumer experience, both in terms of assortment and service. The company reduced its operating loss by 7.4 per cent in the year ended March 2016. The group entered...

Apparel

Aditya Birla Retail to invest Rs 1,500 cr on expansion

Aditya Birla Retail has decided to invest about Rs 1,500 crores in the next five years to expand its hypermarket and supermarket stores. The company that runs hypermarkets under the ‘More Megastore’ brand is looking to open 12 stores each year, while adding around 150 outlets every year to its ‘More’ chain of supermarkets. The average store size...