Japan’s ASICS readies to comply with FDI norms in India

2018/04 22 05:04

Courtesy: ASICS ASICS, the Japanese multinational manufacturing footwear and sports equipment, is gradually increasing the share of its products manufactured in India to comply with foreign direct investment (FDI) norms for single-brand retail and will open its own stores in the country. ASICS India currently sources about 10-12 per cent of its total products sold […]

Rwanda says withdrawal of AGOA benefits US discretion

2018/04 22 05:04

Praising the US Government for having unilaterally initiated the African Growth and Opportunity Act (AGOA), the Rwandan ministry of trade and industry recently said it is Washington’s discretion to withdraw AGOA benefits. The US decision was a result of a move by East African countries to raise tariffs on used clothes to promote the local […]

CDC gives nod for 9 new textile & footwear projects

2018/04 22 05:04

Nine projects belonging to the textile, garment and footwear industry have been given preliminary final registration certificates by the Council for the Development of Cambodia (CDC) in the first three months of this year. In addition, CDC has also issued preliminary final registration certificates to two projects related to manufacturing of travel bags. The nine […]

Flipkart’s new Bengaluru campus to consolidate offices

2018/04 22 05:04

Indian e-commerce company Flipkart has set up a new campus in Bengaluru to consolidate its other offices in the city to improve operational efficiency and take advantage of the resulting synergy between various teams and functions. Teams have already moved to the new location and started operating, according to Flipkart head of marketplace Anil Goteti. […]

Zilingo raises $54 mn, launches B2B platform ZAM in US

2018/04 22 05:04

Courtesy: Zilingo Three-year-old South-east Asian e-commerce start-up Zilingo entered the US online marketplace by launching its new business-to-business (B2B) platform, Zilingo Asia Mall (ZAM) on April 6. The firm recently closed a $54-million series C funding round led by Sofina, Burda Principal Investments and Sequoia Capital India with Amadeus Capital joining as a new investor. […]

No action by Indian ministry on plaints on e-comm: CAIT

2018/04 22 05:04

The Confederation of All India Traders (CAIT) is apprehensive over no action by the commerce ministry on e-commerce issues and the resulting detrimental impact on retail trade. Accusing e-commerce platforms of violating the Foreign Direct Investment (FDI) Policy 2016 through deep discounts and loss funding, CAIT criticised commerce minister Suresh Prabhu’s silence. "It appears that […]

US footwear, apparel sectors to see sales rebound: Moody’s

2018/04 22 05:04

The US apparel and footwear sectors are poised for resurgence post two challenging years, says a report by Moody’s that analyzed 26 brands. It predicts a 3-5 per cent growth in operating profit this year and 4-6 per cent over the next 12-18 months, lower than previous expectations but better than -3.2 per cent and […]

India’s apparel output declines for 10th straight month

2018/04 22 05:04

Courtesy: AEPC India’s apparel production has shown a decline of 4.7 per cent in the month of February and a decline of 9.9 per cent for the period April-February 2017-18 as per the latest IIP figures. Apparel manufacturing has suffered the 10th consecutive monthly decline on account of the issues which have arisen after the […]

China is aggressively executing AI vision: CBInsights

2018/04 22 05:04

Courtesy: CB insights China is aggressively executing a thoroughly designed vision for artificial intelligence (AI), according to CBInsights. The Chinese government is promoting a futuristic artificial intelligence plan and is clearly beating the US. It accounts for 9 per cent share of deals and took 48 per cent of all dollars going to AI stratups […]

Alibaba to acquire Ele.me for boosting new retail efforts

2018/04 22 05:04

Courtesy: Alizilla Alibaba Group would acquire all of the outstanding shares that it does not already own in Ele.me, a leading online delivery service in China, to deepen the platform’s integration into Alibaba’s ecosystem and further expand the technology company’s New Retail strategy for local services. The transaction implies an enterprise value of $9.5 billion […]

India’s apparel exports drop 3.83% to $16.7bn in FY18

2018/04 22 05:04

Courtesy: AEPC/DGCI&S Apparel exports from India dropped by 3.83 per cent to $16.716 billion in April-March 2017-18, compared to exports of $17.382 billion in fiscal 2016-17, according to data from Directorate General of Commercial Intelligence and Statistics (DGCI&S),Kolkata, under the ministry of commerce, Government of India. March 2018 showed fall of 17.78 per cent y-o-y. […]

NRF, 106 groups urge US Congress to ease China trade war

2018/04 22 05:04

Courtesy: NRF The National Retail Federation and 106 associations representing US manufacturers, agri-businesses, retailers, technology firms, importers and exporters recently sent a letter to US House Ways and Means Committee chairman Kevin Brady and ranking member Richard Neal urging Congress to play a strong role in mitigating the escalating trade situation with China. The letter […]