The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
In parent company Reliance Industries’ latest annual report for the fiscal year ending March 2021, India’s largest retailer revealed that its e-commerce and merchant partnerships business made up 10 percent of its total revenue, up from “near zero” the previous year, The Deccan Herald reports.
Reliance Retail’s annual revenue totalled 1.54 trillion rupees ($21 billion).
In addition to operating 12,711 physical stores as of March 2021, Reliance Retail rolled out e-commerce platform, JioMart, last year in 200 cities; it also owns e-commerce players like lingerie seller Zivame and homeware e-tailer Urban Ladder. The annual report stated that the group aims to improve its capabilities moving forward by deploying AI and machine learning.
Chanel, Louis Vuitton and Tiffany & Co are among the brands expanding in Perth, Australia in a bid to tap its mining, oil and gas wealth and newfound status as a travel hub.
This week’s round-up of global markets fashion business news also features Haiti’s sourcing crisis, Brazilian jewellery giant Vivara and Dubai’s Ramadan shopping season.
This week’s round-up of global markets fashion business news also features Supreme’s long-awaited Shanghai flagship opening, India imposes MIP on undervalued imports of synthetic knitted fabric and striking Sri Lankan workers continue to protest.
Imran Amed shares his observations from a trip to the wealthy desert metropolis, home to the most lucrative stores for many of the world’s top fashion brands.