Apart from taking style to the far corners of India, the growth of e-commerce is giving worldwide brands struggling in the nearby marketplace every other shot at achievement.
Arvind Fashion is stated to be in talks with Walmart-owned Flipkart to offload the India licenses for a raft of overseas brands, which include Izod, Nautica, Gant, and Ed Hardy, consistent with human beings acquainted with the improvement.
US-based VF Corp, the proprietor of the Vans logo, is also stated to speak to the e-commerce agency to sell its India license, they introduced.
“The trend is that the manufacturers that do not discover favor with the clients through offline stores are now going through the online channels,” said Harminder Sahni, co-founder of retail consultancy Wazir Advisors.
Flipkart said questions on such talks have been speculative.
“We usually paintings carefully with all Indian brand owners/companions to listing and grow their manufacturers on our market,” a Flipkart spokesperson said in an email. “It is deeply pleasant that brands also are seeing us as an exceptional and specific channel for his or her growth and additionally to electricity positioning in India.”
The Flipkart group controls about 65% of the online fashion commercial enterprise in India alongside its Myntra and Jabong portals.
“Online is an effective and occasional-value type of a channel as there are no constant costs attached to the brands themselves,” Sahni stated. “Flipkart wants the rights to manufacture Vans merchandise to be offered in India,” said one of the people noted above. VF did no longer respond to queries.
Arvind Fashion declined to remark, saying the organization does not respond to “market speculations.”
A few years ago, worldwide labels which include S Oliver, Boggi Milano and Alcott had to exit after failing to crack u . S. A .’s marketplace. Since then worldwide brands have attempted to discover a second domestic online.
In 2017, Spain’s style emblem Mango terminated its franchise agreement with Major Brands and partnered with Myntra. However, in contrast to Mango, Flipkart isn’t always inquisitive about strolling brick-and-mortar shops for the brands and is simplest negotiating for online income in India, one of the resources stated.
Legendary investor Warren Buffett who once famously said, “I usually knew I turned into going to be rich. I don’t assume I ever doubted it for a minute,” on Saturday stated saving cash isn’t always necessarily the primary issue to do in life.
Answering a query from a 17-yr-old on behind schedule gratification, Buffett stated: “You don’t shop by way of no longer going to a movie. There is a lot to be stated about saving cash via denying your self-amusement. Delayed gratification is not necessarily an all-certified purpose,” he said.
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Buffett stated there’s no correlation between money and happiness. “If you are to be glad having $20,000 or $50,000, you won’t be happy having $5 million. Loads and masses cash does not make people happier. You are happier when you have monetary protection,” he stated, caution: “Don’t cross overboard on delayed gratification.”
The 88-yr-old Chairman and Chief Executive Officer of Berkshire Hathaway took questions from buyers and reporters for hours in a marathon Q&A consultation at the conglomerate’s annual shareholder assembly, what the billionaire investor calls “Woodstock for Capitalists”.
Answering a query of capitalism inside the US, Buffett said: “I’m a card-sporting capitalist. I agree with we would not be sitting right here except for the marketplace system and the guideline of law… Which are embodied in these united states? So you shouldn’t fear approximately me converting in that manner.”
In any other context, speak about his 60-year partnership with Munger, Buffett stated: ”We make the big decisions jointly. It’s just that we have not had any large selections.”
And on Bitcoin, the mythical investor said, “On my honeymoon in 1952, I saw loads of human beings gambling roulette. I told my spouse, we are able to make quite a few money. Bitcoin rejuvenates that feeling.”