INDIA: Reliance Retail Q3 turnover jumps 38%
Reliance Retail, the retail arm of industrial conglomerate Reliance Industries, has recorded a 38% jump in third-quarter turnover, helped by an "accelerated performance" from its fashion and lifestyle business.
Turnover reached INR39.27bn (US$637.6m) during the third quarter to the end of December, compared to INR28.39bn in the same period of the previous year. The business recorded a like-for-like sales growth of up to 21% across various store formats.
The company's fashion and lifestyle sector delivered an "accelerated performance" during the quarter. Its joint venture with Marks & Spencer continued to grow by opening its largest standalone flagship store in India.
For the nine months to December, Reliance Retail's turnover reached INR108.57bn, up 40% on INR77.49bn in the prior year.
The company operates 1,577 stores across 141 cities in India.
More than 220 companies have now signed the Accord on Fire and Building Safety in Bangladesh following the collapse of the Rana Plaza factory building in Dhaka, which killed more than 1,100 people in ...
Among the industry executives who spoke with just-style this year were William E Connor, chairman and CEO of William E Connor & Associates; Crystal Group's CEO Andrew Lo; Helena Helmersson, head of su...
- Why Inditex is "clear winner" in fast fashion
- Why fast fashion isn't a case of one size fits all
- Brexit blow to global apparel industry confidence
- Sir Philip Green blamed for the collapse of BHS
- TPP tariff phase-out guides Vietnam sourcing plans
- Vietnam mulls wage freeze to boost competitiveness
- VF Corp cuts guidance as Q2 profit plunges 70%
- US Q2 in brief - Carter's, Wolverine Worldwide
- Teijin launches polyester hook-and-loop fastener
- Ethiopia opens flagship textile and apparel park
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- World Textile and Apparel Trade and Production Trends: the EU - June 2016
- Primark Stores Limited: Retailing - Company Profile & SWOT Analysis
- Global market review of lingerie - forecasts to 2020