Gautam Singhania, chairman and managing director of fabric and apparel major Raymond, has emphasized that his personal life has no bearing on his businesses, which have shown significant growth and transformation during the pandemic. Singhania, 58, is currently embroiled in a settlement dispute with his estranged wife Nawaz Modi Singhania, 54, following their separation announcement in November.
Go Fashion was also exploring 'omnichannel strategies' leveraging technology to offer physical and online shopping experiences, expanding reach to consumers in various cities. "During FY24, our company achieved a growth of 15 per cent year-on-year in revenues to Rs 763 crore. EBITDA stood at Rs 242 crore witnessing a growth of 14 per cent year-on-year. Our PAT for FY24 stood at Rs 83 crore which was flat on a year-on-year basis," Saraogi said.
Consolidated net revenue in the quarter under review was Rs 2,688 crore as against Rs 2,192 crore in the year-ago period, up 23 per cent, it added. For the fiscal ended March 2024, consolidated profit after tax was Rs 1,638 crore compared to Rs 529 crore in the previous fiscal. Its consolidated net revenue in FY24 stood at Rs 9,286 crore over Rs 8,337 crore in FY23, the company said.
rue21 has attempted to sell its business, but no buyer appeared willing to pay more than the company would earn by liquidating its inventory in "going out of business" sales and shutting down its stores, the company said in documents filed in Wilmington, Delaware, bankruptcy court.
The German fashion house is on an expansion mission, increasing marketing spend and opening 102 new points of sale in 2023, but its shares have fallen this year as it warned of slower sales growth.
Lululemon Athletica plans to enter India independently, focusing on locations in Mumbai, Delhi, and Bangalore. The company, known for yoga pants, aims to tap into the country's growing demand for fitness and athleisure wear.
During the period under review, sherwanis have emerged as a standout category, making up more than a quarter of all sales, the report (by Rupali Mukherjee) said quoting Ashish Mukul, brand head at Tasva.
Manyavar-owner Vedant Fashions' revenue from operations in Q4 FY24 increased to Rs 363.15 crore as against Rs 355.06 crore in Q4 FY23, as per the BSE filing.
The early start of end-of-season sales and events like Valentine's Day drove heightened sales volumes, while high-income urban consumers favoured luxury makeup and fragrances for social and professional engagements, further boosting top-line growth.
Before that, he was the chief commercial officer and CEO – Homestop with the company. Prior to joining Shoppers Stop, he worked as the managing director and CEO of House of Anita Dongre, which has brands of AND, Anita Dongre, and Global Desi. The board of directors of Shoppers Stop has also approved the appointment and changes in the designation of directors, at its meeting held on April 29, 2024 and with effect from the date to hold the office up to ensuing General Meeting of the company.
Trent's total income has also seen a jump of 48.7 per cent to Rs 3,374.57 crore in Q4 FY24 as against Rs 2,268.06 crore in the corresponding quarter of the previous fiscal. Trent's total expenses has also increased to Rs 3,073.54 crore in Q4 FY24 as compared to the total expenses of Rs 2,207.89 crore in Q4 FY23, as per the BSE filing.
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