Photo: Linkedin
Far-Fetch Launches Pre-Order Services To tackle Fashion Waste
In hopes of tackling fashion waste and competing with the competitors, "Far-Fetch" has launched a pre-order service that will help in managing the inventory and production, and also allow its customers to order from designers before its brands hit the shelves. "Far-Fetch" has also partnered up with restoration services. The move comes in order to help shoppers find a sustainable approach towards shopping and to reduce fashion waste.
Tags: fashion, e-waste, Future Retail, New Initiative
Courtesy: Harpers Bazaar
Photo: Republic World
Supreme Court Holds Singapore's EA Award In Favour Of Amazon
The Supreme Court in its August 6 verdict restrained the Rs 24,713 crore Future Group-Reliance Retail deal. SC drew the verdict favoring the US-based e-commerce giant Amazon by holding that Singapore's Emergency Arbitrator (EA) was credible under the Indian law and can be implemented. Amazon challenged the Delhi High Courts' decision in the SC which certified the deal between Future Group and Reliance.
Tags: Amazon Web Server, Future Retail, Reliance India, Supreme Court
Courtesy: Deccan Herald
Photo: Livemint
Reliance Industries Offers Operational Support To Future Retail
Mukesh Ambani-owned Reliance Industries has offered operational support to save the Future Retail Limited from collapse. However, the Rs 24,713-crore deal to buy the retailer’s assets is yet to be decided by the national company law tribunal. Reportedly, Reliance has extended the deadline for completion of the purchase by six months given the legal battle between Future Group and Amazon. Meanwhile, to ease burden, Future has transferred lease… read-more
Tags: Reliance Industries, Future Retail, Mukesh Ambani, NCLT
Courtesy: Livemint
Photo: The Motley Fool/Financial World
Stocks Down for Reliance and Future Retail after Halt in Deal
Stocks fell for Reliance and Future Retail by 3.65% and 5.01% respectively at BSE after the asset sale was halted by an arbitration panel. Amazon, which holds a 7.3% stake and 'Contractual rights' in the Future Retail initiated arbitrary proceedings as Reliance decided to buy the business of Future Retail for $3.38 billion. However, Future Retail said, “It was not party to the agreement under which Amazon had invoked arbitration.”
Tags: Reliance, Amazon, Future Retail, Arbitration
Courtesy: Reuters
