Stepping up its battle with its former India managing director Subhinder Singh Prem, German sportswear major adidas on Sunday petitioned Indian law enforcement authorities to initiate a criminal investigation into commercial irregularities at Reebok India.
The development comes two days after Prem moved the Delhi High Court challenging his "termination" as well as seeking damages and contractual dues from adidas. A few days before that, he had also served a defamation notice on his former employers.
Costco has trumped the major supermarkets in the battle to offer the lowest price for the latest Penfolds Grange 2007, selling the iconic and prestigious label for AUD489.99 (USD504.79).
The US discounter revealed its pricing for the 2007 vintage after Coles said it would have an AUD499 price tag at its 1st Choice liquor outlet – a 20 percent discount to the recommended retail price of AUD625.
Hasbro goes from profit to loss in the first quarter. But the company anticipates full-year profits ahead of four major movie releases in 2012.
The toy maker made a net loss of USD2.5 million in the quarter to 1 April 2011, versus a profit of USD17.1 million in 1Q last year.
Increasing numbers of major brand owners are enhancing their innovation capabilities in India, reflecting a desire to tap this fast-growing market.
Zinnov, the consultancy, reported that the 1,000 highest-spending firms globally allocated USD582 billion to R&D in the 2010/11 fiscal year, the Times of India reported.
This constituted an improvement on the USD538b posted in 2009/10, when worldwide expenditure levels slipped from USD543b due to the economic downturn.
Siyaram Suitings, a textile major in blended fabrics in India, will soon launch three mid-range brands.
The company, with net sales of INR860 crore (INR8.6 billion, USD169.7m) in the last financial year, is expected to launch Royal Linen, Moretti and Zenesis, thus taking its count from five brands to eight. The other brands under Siyaram Suitings is Siyaram's, J Hampstead, Mistair, Siyarams's MSD and Oxemberg.
Most of the sales for Siyaram is done via multi-brand outlets and less than 10 percent of sales comes from franchisee outlets.
India's e-commerce major Snapdeal plans to increase its headcount over the next six months by adding 500 people.
Snapdeal, which claims to have over 15 million users, employs about 1,000 people at present.
"We have seen 80-90 percent growth in traffic month on month over the last three quarters. We have been gradually increasing the pace of hiring and over the next six months, we will add about 500 people," Snapdeal chief executive director Kunal Behl told PTI.
With an increasing number of enterprises taking their marketing campaigns online to tap social media, software major Adobe on Wednesday said it is focusing on delivering solutions that help companies create, measure and monetise such digital marketing initiatives.
The company had recently announced restructuring efforts to focus on businesses like digital media and marketing.
Major trends from rapid urbanisation to the rise of mobile phones will transform consumer habits in India going forward, a new study has argued.
Kinetic, the out-of-home agency network, partnered with Lightspeed Research, the survey firm, to poll 3,000 people in Ahmedabad, Bangalore, Delhi, Hyderabad, Kolkata and Mumbai.
China Garments is a state-owned apparel maker whose products range from Mao suits to riot gear. Recently, Zhan and China Garments released plans to launch China’s first luxury men's apparel brand aimed at domestic consumers yet designed and produced in Italy. Aptly enough, the line will take its name from the Italian Sorgere, "to rise", and the Chinese Sheji, "nation".
As Foxconn Electronics (Hon Hai Precision Industry) has recently revealed it will raise its minimal salary 16-25 percent, supply chain players pointed out that Foxconn's salary rise is making the existing labour shortage problem even worse; however Foxconn has noted that the company's major development directions in the future will be to reduce employees' working hours, while still maintaining their income.