Indian brand Tanishq, owned by Titan company of Tata Group, reported an increase in sales due to holidays - Festival Ashkaya tritium and the season of weddings that took place in the first quarter of the current fiscal year, reports Economic Times
At the same time, the company noted that sales suffered from jewelers strike against the introduction of the excise tax on jewelery, which took place during the reporting period. "Strike jewelry associations against the introduction of the excise tax continued in many parts of India till the middle of April 2016, and it has had some impact on sales Tanishq this month", - says the company Titan reported
in May for Tanishq started well thanks to the festival Ashkaya tritium, added to Titan . "According to our data, some of the major players in the jewelry industry showed almost 30 priotsentnoe decline in sales during the festival Ashkaya tritium, thus, the market share of Tanishq increased", - added in the company.
The statement said Titan, some impact of the new government rules on compulsory presentation of a permanent tax number in India affected the number of products in several price categories. The company noted that, in general, the impact of this factor on the sale resulted in a reduction in revenue of less than 10% on a regular basis of the state. During the quarter, Titan has opened five stores and closed two Tanishq Gold Plus store.
http://pearlsgift.blogspot.ca/
1 comment:
The Italian company Fiera di Vicenza, which is the organizer of the exhibition VICENZAORO, is considering an initial public offering (IPO) on the Milan Stock Exchange.
According to Rapaport portal, the Board of Directors Fiera di Vicenza discussed the move at a meeting with shareholders on February 3.
It is expected that the deployment of the company's shares on the stock exchange will support its strategic and economic problems, it said in a statement Fiera di Vicenza. In the future, the company will hold an additional meeting with shareholders on the methods and IPO strategy.
Meanwhile, there was a 5 percent increase in the number of foreign buyers and the common good results in VICENZAORO January exhibition. For six days 19,381 customer visited 9 pavilions of the fair, where 1500 brands from 30 different countries were represented. Much of this increase was due to the arrival of visitors from the Middle East, the Arabian Peninsula and in the United States, while the Chinese and Russian buyers at the show was smaller.
As a result of this internationalization process VICENZAORO increased the number of high-level international events held at the fair.
Post a Comment