The Merchandise Exports from India Scheme (MEIS) was discontinued from August 1. Though it was reinstated later for other export sectors, it is still not available for apparels and made-ups. Chennai: Apparel and made-up exporters are facing a huge working capital crunch for the past few months, as refunds of over Rs 5,000 crore under the … Read More →
Reported Standalone quarterly numbers for S P Apparels are:Net Sales at Rs 177.61 crore in September 2018 up 13.24% from Rs. 156.84 crore in September 2017. Quarterly Net Profit at Rs. 13.58 crore in September 2018 up 41.71% from Rs. 9.59 crore in September 2017. EBITDA stands at Rs. 31.70 crore in September 2018 up … Read More →
Designed by Nirav Modi, the set has specially-procured rubies Well-known diamond jewellery designer Nirav Modi has designed a jewellery set priced at ₹105 crore (over $16 million). Studded with specially-procured rubies from the Mogak mines in Myanmar and fine-cut diamonds from across the world, the set is believed to be one of the costliest ever … Read More →
City-based women’s ethnic wear brand Span plans to invest Rs 100 crore over the next three years to ramp up its retail presence. By 2020, the company plans to increase the number of large-format stores to about 600 and exclusive outlets to 100 from 250 and 25, respectively, at present. “We are present in about … Read More →
Net profit of New Light Apparels reported to Rs 0.65 crore in the quarter ended March 2017 as against net loss of Rs 0.14 crore during the previous quarter ended March 2016. Sales rose 112.24% to Rs 4.16 crore in the quarter ended March 2017 as against Rs 1.96 crore during the previous quarter ended … Read More →
India’s jewellery sector is estimated to have incurred a revenue loss of over Rs. 60,000 crore due to an ongoing indefinite strike that entered the ninth day on Wednesday, according to an industry body. Members of over 358 associations related to jewellery trade and related businesses are on strike since March 2 to demand withdrawal … Read More →