| Coming out in support of allowing foreign direct investment (FDI) in multi-brand retail sector, Minister for Commerce and Industry, Anand Sharma said that despite "sceptics and scaremongers'' predicting job losses, unorganised retail will actually grow and thousands of jobs will be created if the sector is opened up to foreign investments. He said that his department had received all inputs on the position paper floated on the issue and a inter-ministerial core group will hold discussions on it soon. |
|
|
| The Kishore Biyani-promoted Future Supply Chain Solutions (FSCS), a Future Group company, has bagged Hindustan Unilever (NYSE:UL) Ltd (HUL) as a customer and become a third-party logistics supplier to the FMCG behemoth. Targeting volumes to the tune of almost 25 tonnes a day from HUL, Future Supply Chain Solutions would be reaching its food and personal care brands from HUL's factories and warehouses to the retail outlets. |
|
|
| Prem Durai Exports, a Tirupur-based garment manufacturer, has acquired a controlling stake in Swiss leisurewear brand Switcher. The export arm of PGC Industries and group, Prem Durai Exports has been Switcher's supplier for over two decades. It sells approximately seven million garments in Switzerland alone and has over 1,150 corporate clients in Switzerland and European countries. In India, Prem Durai already sells at 600 retail points. They are in MBOs and large formats like Shoppers Stop. |
|
|
|
