De Beers Makes Sweeping Cuts to Its Elite Diamond-Buying Club
The diamond company produced less than 22 million carats last year, down from almost 35 million in 2022.
New Delhi, India
Global Markets
India’s Higher Clothing Tax Threatens Setback for Global Fashion Brands
India’s consumer tax reform is raising duties on apparel priced above $29, unsettling global and domestic fashion players who warn higher costs could affect demand.
India’s Higher Clothing Tax Threatens Setback for Global Fashion Brands
India’s consumer tax reform is raising duties on apparel priced above $29, unsettling global and domestic fashion players who warn higher costs could affect demand.
Global Markets
India Braces for Higher US Tariffs, Eyes Broader Trade Deal, Sources Say
As a temporary measure, India anticipates US tariffs between 20-25 percent while broader trade negotiations continue.
India Braces for Higher US Tariffs, Eyes Broader Trade Deal, Sources Say
As a temporary measure, India anticipates US tariffs between 20-25 percent while broader trade negotiations continue.
Retail
Birkenstock Cracks Down on Fakes in India
Indian court-appointed representatives recently inspected factories to seize suspected counterfeit footwear, after the German brand launched an infringement lawsuit, sources said.
Birkenstock Cracks Down on Fakes in India
Indian court-appointed representatives recently inspected factories to seize suspected counterfeit footwear, after the German brand launched an infringement lawsuit, sources said.
Global Markets
India’s Future Retail Takes Reliance Deal Saga to Supreme Court
India’s Future Retail has asked the country’s top court to stall a Singapore arbitration panel’s decision to freeze a $3.4 billion asset sale after e-commerce giant Amazon had sought to block the deal.
India’s Future Retail Takes Reliance Deal Saga to Supreme Court
India’s Future Retail has asked the country’s top court to stall a Singapore arbitration panel’s decision to freeze a $3.4 billion asset sale after e-commerce giant Amazon had sought to block the deal.
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Global Markets
Migrant Workers in India Face Police Backlash After Defying Covid-19 Lockdown
Hundreds of thousands of migrant labourers, many of whom work in India's now shuttered textile industry, were sprayed with tear gas by police as they attempted to head to their homes in the countryside on foot, following Prime Minister Narendra Modi's 21-day nationwide lockdown.
Migrant Workers in India Face Police Backlash After Defying Covid-19 Lockdown
Hundreds of thousands of migrant labourers, many of whom work in India's now shuttered textile industry, were sprayed with tear gas by police as they attempted to head to their homes in the countryside on foot, following Prime Minister Narendra Modi's 21-day nationwide lockdown.
Global Markets
Amazon to Face Protests From Traders During India Trip
India's 70 million brick-and-mortar retailers have been waging a battle against online retailers Amazon and Walmart-controlled Flipkart since 2015, accusing them of deep discounts and flouting India's foreign investment rules.
Amazon to Face Protests From Traders During India Trip
India's 70 million brick-and-mortar retailers have been waging a battle against online retailers Amazon and Walmart-controlled Flipkart since 2015, accusing them of deep discounts and flouting India's foreign investment rules.
News & Analysis
Amazon and Indian Trader Group in Public Spat Over Discounts
The Confederation of All India Traders has issued concerns over the e-commerce giant's alleged circumvention of foreign investment rules.
Amazon and Indian Trader Group in Public Spat Over Discounts
The Confederation of All India Traders has issued concerns over the e-commerce giant's alleged circumvention of foreign investment rules.
News & Analysis
Walmart Criticises India's E-Commerce Rules, Warns of Trade Impact
The American retail corporation is siding with the US government in strongly opposing India's e-commerce rules in a failed lobbying attempt.
Walmart Criticises India's E-Commerce Rules, Warns of Trade Impact
The American retail corporation is siding with the US government in strongly opposing India's e-commerce rules in a failed lobbying attempt.
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News & Analysis
Walmart-Owned Flipkart Faces Legal Spat With Start-Up
India's answer to Amazon finds itself in a legal tussle over alleged predatory discounting of GOQii wearable tech pieces.
Walmart-Owned Flipkart Faces Legal Spat With Start-Up
India's answer to Amazon finds itself in a legal tussle over alleged predatory discounting of GOQii wearable tech pieces.
Global Markets
Big Modi Victory Pushes Indian Stocks to Best Week in Two Months
As Prime Minister Narendra Modi cruised to his second successive landslide victory, Indian equities climbed, sending key gauges to their best weekly gains in more than two months.
Big Modi Victory Pushes Indian Stocks to Best Week in Two Months
As Prime Minister Narendra Modi cruised to his second successive landslide victory, Indian equities climbed, sending key gauges to their best weekly gains in more than two months.
Global Markets
India's New E-Commerce Restrictions Could Hit Online Sales
Changes in the way e-commerce firms in India can sell products could reduce online sales by $46 billion by 2022, according to a PwC draft analysis.
India's New E-Commerce Restrictions Could Hit Online Sales
Changes in the way e-commerce firms in India can sell products could reduce online sales by $46 billion by 2022, according to a PwC draft analysis.
Luxury
Seizing the India Opportunity
The chief executive of the fashion division of Reliance Industries, India’s largest private sector conglomerate with consolidated turnover of $63 billion, talks about seizing opportunities in the fastest-growing major economy in the world.
Seizing the India Opportunity
The chief executive of the fashion division of Reliance Industries, India’s largest private sector conglomerate with consolidated turnover of $63 billion, talks about seizing opportunities in the fastest-growing major economy in the world.
The News in Brief
L’Oréal India in Talks to Acquire Beauty Company Innovist
L’Oréal is in advanced talks to acquire a majority stake in Bare Anatomy parent Innovist sources told The Economic Times India.
Zegna Chairman Says War Has Clouded Visibility of Demand in Middle East
The Italian fashion house cautioned the war is reducing visibility on demand in the Middle East, which accounts for 7 percent of its sales, though all stores are currently open in the region.
Glossier Appoints New CMO
Nicole Solorzano, who joins from Ouai, is the Millennial beauty brand’s latest hire.
Macy’s CEO Points to E-Shaped Economy, Signalling Consumer Shift
The mention of a forked economy by the head of America’s largest department store signals a heightened wariness that middle-income Americans will continue to spend at the same pace.
France’s Bid to Suspend Shein’s Marketplace Rejected by Appeals Court
The decision from Paris’ Court of Appeal marked a win for the fast-fashion giant after a scandal over sex dolls resembling children for sale on its site.
Coty Announces Board Revamp
The embattled Covergirl owner has appointed five new independent directors amidst a wider leadership and company shakeup.
Zimmermann Names Roberto Eggs CEO
The Moncler Group executive will succeed longtime CEO Chris Olliver, who is staying on as executive chairman.