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• All group businesses going through transformation over next couple of years: Shashwat Goenka, RPSG Group

  Shashwat Goenka envisions significant growth and transformation across diverse sectors within the RPSG Group. The strategic focus includes retail expansion, innovative health food offerings, client-centric BPO services, and a transition to greener energy sources for sustainable growth.

  

• Govt to give focused attention to promote India's textiles exports: Textiles secretary

  The cumulative exports of textiles and apparel from India during April 2023-March 2024 registered a de-growth of 3.24 per cent at USD 34.4 billion, as compared to USD 35.5 billion in April 2022-March 2023.

  

• Why touchy-feely consumerism is here to stay and also thrive

  The surge in e-commerce once signaled the demise of brick-and-mortar stores, but a notable shift is occurring as D2C companies expand offline. The trend extends beyond smartphones to FMCG and banking, with consumers favoring physical stores for premium items. Retailers are adapting by enhancing store sizes to provide immersive shopping experiences.

  

• D2C fashion brand Powerlook eyes Rs 300 crore GMV this fiscal

  Powerlook's co-founder Raghav Pawar said, "By prioritizing quality products and personalized shopping experiences, the brand continuously endeavours to exceed customer expectations," He further said the brand has maintained 35-40 per cent growth quarter-on-quarter last year and has witnessed a 30 per cent quarterly increase in sales and revenue.

  

• Gold imports jump 30 pc to USD 45.54 billion in 2023-24

  In March this year, however, the imports of the precious metal contracted by 53.56 per cent to USD 1.53 billion, as per the data released by the commerce ministry.

  

• Flipkart introduces simplified rate card policy for sellers

  ​​“With the implementation of the new rate card, Flipkart aims to maintain its position as an affordable shopping destination for customers. The revisions are designed to optimise seller costs while ensuring competitive pricing and value for consumers,” the company said in a blog. If sellers get cost advantage, they are likely to pass on benefits to consumers leading to reduced prices.

  

• Retailer Lidl UK raises staff pay for third time in 12 months

  Pay rises at big employers like Lidl, which employs 32,000 people across Britain, are closely watched by the Bank of England, which said on Thursday it remains on guard because of still-strong growth in wages which add to inflationary pressure.

  

• Spices Board formulates comprehensive guidelines for exporters to prevent ETO contamination

  The Spices Board has released comprehensive guidelines for exporters to prevent ethylene oxide contamination in Indian spice products, following quality concerns from certain countries. The guidelines include avoiding the use of ethylene oxide, testing for contamination, and implementing preventive measures throughout the supply chain. Exporters are encouraged to use alternative sterilization methods. These guidelines come after Hong Kong and Singapore banned popular spice brands due to ethylene oxide detection.

  

• For phones, Indians think China again

  Chinese smartphone brands, including Xiaomi, Vivo, Oppo, Realme, Transsion, and Motorola, have seen their cumulative market share rise to 75% in the March quarter, despite government scrutiny. This growth is attributed to a shipment rebound by top brands like Xiaomi and Vivo after a few tepid quarters in 2023 due to low demand and inventory bottlenecks. Smaller brands like Motorola and Transsion have also expanded their footprint in the market.

  

• D2C brands step up hiring to drive offline push

  D2C (direct-to-consumer) companies in Bengaluru are increasing their offline presence and hiring talent to support their brick-and-mortar expansion. Licious, Noise, and Wakefit.co are among those seeking individuals with hyperlocal understanding, online and offline expertise, and experience in digital, ecommerce, and supply chain. Wakefit.co is employing a 'train and hire' approach, training freshers before they start in stores.

  

• Kalyan Jewellers Q4 consolidated PAT up 97% to Rs 137 cr

  "We completed an excellent financial year and have started the new year on a strong note despite continuing volatility in gold prices. We are witnessing encouraging momentum in consumer demand, especially around the wedding purchases during the current quarter and Akshaya Tritiya," Kalyan Jewellers India Executive Director Ramesh Kalyanaraman said.

  

• Delhi excise policy: ED files fresh charge sheet; names BRS leader K Kavitha

  The ED has alleged that Kavitha was a key member of the 'South Group' that has been accused of paying the Aam Aadmi Party (AAP) alleged kickbacks of Rs 100 crore in return for a big share of liquor licences in the national capital, as part of the excise policy for 2021-22 which has was scrapped following allegations of corruption and cartelisation of liquor traders.

  

• Danone India appoints Shashi Ranjan as its managing director

  In his new role, Ranjan will spearhead Danone's strategic initiatives in India, focusing on expanding the company's presence, strengthening partnerships, and fostering sustainable growth. Leveraging his deep understanding of consumer preferences and market dynamics, he is committed to steering Danone India towards its global vision of delivering health through food to the people of India.

  

• Relaxo Footwears posts 3 pc decline in Q4 net profit to Rs 61 cr

  For the full financial year 2023-24, Relaxo's net profit rose to Rs 200.47 crore, from Rs 154.47 crore in the previous fiscal.