Covid triggers rejig of partnerships between global fashion firms, Indian retailers

US sportswear brand New Balance signed Gaurik Lifestyle as the new partner to run New Balance-branded physical outlets in India, according to two people familiar with the development. Boston-based New Balance earlier had a franchisee arrangement with Major Brands. At the same time, New Balance is in talks with Myntra for an exclusive deal to sell online, they said. Myntra declined to comment. Go to Source

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Haryana RERA issues showcause notice to Gurgaon builder, threatens to impose Rs 28 crore fine

KK Khandelwal, Chairman, HARERA, said that in the notice builder has been told that registration of the projects will be cancelled in case builder fails to complete it. HARERA has also alleged that there could be diversion of funds of the project which was meant for construction. Go to Source

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JK Cement Ltd completes 4.2 mtpa expansion plan with its new plant in Gujarat

The grey cement grinding unit in Balasinor is part of the company’s grey cement expansion plan of 4.2 mtpa. The 4.2 mtpa capacity had a capex of around Rs 2000 crore, and this Gujarat plant could be around Rs 180-190 crore, Kapur said adding the plant is up and have started booking orders. Go to Source

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Nestle India clocks double-digit sales growth in Q3, plans Rs 2,600 crore investment over 3-4 years

Meanwhile, the FMCG major — which follows January-December financial year — posted a marginal 1.37 per cent drop in its net profit at Rs 587.09 crore in the third quarter ended September 30, 2020. Its net sales, however, were up 10.19 per cent at Rs 3,525.41 crore during the period under review, the company said. Go to Source

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