Velvet dress sales put Zara owner firmly in fashion

Velvet dresses, military blazers and mini-skirts helped Inditex, the owner of chains including Zara and Massimo Dutti, post a strong rise in sales for the nine months to October. The world’s largest clothing retailer posted an 11% rise in net sales to €16.4bn compared with the same period last year. Net profit was 9% higher at €2.2bn (£1.8bn). Sales have also risen since November despite unseasonably warm weather. The increase comes as rival fashion groups struggled with tough trading conditions in many markets. Inditex, which also owns Bershka and Pull…

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Black Friday’s Record Sales Driven by Mobile Devices, Finds Report

In a first, online shopping on Black Friday is estimated to have hit the $3 billion mark in the US with a major chunk of the total sales coming from mobile devices, a report said on Saturday. Adobe Digital Insights, which has been tracking e-commerce transactions, estimated sales of $3.05 billion (roughly Rs. 20,918 crores) on Black Friday 2016 – up 11.4 percent from the same day last year. A TechCrunch report, citing the Adobe survey, noted mobiles had a significant impact on the record e-commerce sales on Thanksgiving Day…

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Singles Day: Alibaba breaks record sales total

E-commerce giant Alibaba has beaten its sales record for its annual Singles Day event. About 20 hours into the event, Alibaba sales had reached 103bn yuan ($15bn; £12bn), easily topping the previous record set last year of $14.3bn. But some have questioned the accuracy of the numbers, amid claims of inflated sales data at Chinese online retailers. Merchants passing off counterfeit goods as genuine is also a problem in the industry. Alibaba reported 85% of purchases had been made on mobile phones during Singles Day. How Alibaba wants to change…

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Future Lifestyle Fashions has raced past Shoppers Stop in retail sales Read more at: http://economictimes.indiatimes.com/articleshow/54284351.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

MUMBAI: Four years ago, Kishore Biyani was shunted out by both K Raheja Corp and Landmark Group when he approached them to merge his department store chain Central with Shoppers StopBSE -0.13 % and Lifestyle. The most embarrassing part, however, was when bankers refused to reveal the valuation that both retailers had quoted for Central. All they told Biyani was it was too low and insulting. The same year, he managed to find a suitor in Aditya Birla Group, but for his flagship chain Pantaloon. Biyani is now back with…

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