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Versace, Cavalli seek new partners in India; Longchamp shuts shop

High operating costs and soaring rentals are the bane of luxury retailers who have also noticed a 20-25% reduction in footfalls. The non-existant growth of luxury brands in India, according to experts, can be attributed to a confused strategy followed by brands. Experts say, luxury brands are selling old collection in India which is driving sales down.

Govt raises duty drawback rates for gold, silver jewellery exports

The drawback rates have been raised to Rs 372.9 per gram for gold jewellery from Rs 272 per gram, according to a notification of the finance ministry. Similarly, for silver jewellery, it has been raised to Rs 4,332.2 per kilogram, from Rs 3,254. "This notification shall come into effect from November 16, 2019," the notification has said.

Times Group forays into beauty services with launch of Femina Flaunt Beauty Studio

The salon was launched by Vineet Jain, managing director – the Times Group, along with, three-time National Award-winning actress, Kangana Ranaut. He further added that the entry into the beauty segment is in line with the group’s philosophy of continuing to invest in newer and future growth opportunities.

THE TIMES GROUP forays into Beauty Services LAUNCHES ITS FIRST 'FEMINA FLAUNT' STUDIO SALON in MUMBAI

Mumbai, November 13th 2019 – Bennett, Coleman & Co. Ltd., The Times of India Group , one of India’s leading multimedia companies, today forayed into beauty...

Amway India expects health, beauty segments to revive revenue growth

Amway India on Tuesday introduced new products in its global premium beauty brand Artistry, expects a double-digit growth in the segment. The FMCG major is expecting its beauty segment to contribute around 20% to overall revenue in the next five years. Amway is also investing in its online platform, which the company believes will get up to 40 to 50% of sales.

Jewellery exports dip 5.49% in October to Rs 24,583 crore: GJEPC

The exports stood at Rs 26,010.87 crore in October 2018, according to data given by the Gems and Jewellery Export Promotion Council. The decline in exports is mainly due to a decline in demand in the main export markets following the US-China trade war, protests in Hong Kong and the implementation of VAT in the Middle East, GJEPC added.

How a tough Indian market is making De Beers change its policy

De Beers, once-inflexible diamond company, allows traders to return rough stones, cuts prices.

Bequest Group brings luxury perfume brand Creed to India

The Paris-based luxury perfume company, which originally began as a tailoring house in England in 1760s, will have two outlets here in the coming year. Erwin Creed, the company's seventh generation perfumer and owner said that the company is focusing on the Asia and Middle-Eastern markets in a big way but will only expand here gradually.

Young, rich Indians have started a gem of a trend as demand for rubies, sapphires grow

Demand for precious stones in jewellery is growing with urban buyers willing to pay top price for them.

JOY Personal Care ropes in actress Kriti Sanon for honey & almonds lotion

Commenting on this new association, RSH Global chairman Sunil Agarwal said: “Winters are extremely important for any personal care company and we’re no different. Honey & Almonds body lotion is our flagship product. It was a well thought out move to get Kriti Sanon on board.

Investors in Mumbai jeweller’s gold schemes complain to EOW

Investors in Mumbai jeweller’s gold schemes complain to EOW

The gold schemes are managed by suburban Mumbai-based Rasiklal Sankalchand Jewellers. Rating agency Brickwork Ratings revised the jewellers bank loan facilities of Rs 105 crore downward to BWR BB Plus from BWR triple B recently citing non-cooperation of the issuer.

IBJA to review franchise agreement with Rajesh Wadhawan group company

IBJA to review franchise agreement with Rajesh Wadhawan group company

India Bullion and Jewellers Association (IBJA) has sought legal opinion on its franchise agreement with IBJA Gold Pvt Ltd. Under a franchise agreement in 2015, IBJA lent its brand-name and logo to the company in exchange for a non-refundable deposit and 10% equity in it, said an India Bullion and Jewellers Association official.

Jewellery, apparel sales hit in Diwali amid slowdown: Report

Jewellery, apparel sales hit in Diwali amid slowdown: Report

Groceries and restaurants are the standout categories of segments that witnessed an increase in average spends of 11 per cent and 32 per cent, respectively, in 2019 festivities, the company said.

Louis Vuitton offers to buy US luxury jeweler Tiffany: Sources

Louis Vuitton offers to buy US luxury jeweler Tiffany: Sources

Louis Vuitton owner LVMH has approached Tiffany & Co with a $14.5 billion acquisition offer. LVMH, which has for years been looking for ways to expand its market share, submitted a preliminary, non-binding offer to Tiffany earlier this month.

Jewellers to kings and queens: Meet Two young Kasliwals whose business dates back to the Mughal era

Jewellers to kings and queens: Meet Two young Kasliwals whose business dates back to the Mughal era

Two young Kasliwals now hold the reins of a ninth-generation business that counts monarchs, tycoons and celebrities among patrons.

Gold trade, investors in tizzy as jewellery retailers remain uncontactable

Gold trade, investors in tizzy as jewellery retailers remain uncontactable

Market sources said mid and small level jewellers were facing stress as consumer demand for the metal had fallen.

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