Feedback
A pioneer B2B media and publication platform connecting with Fashion Brands & Retail in India
 

Arvind Fashions defers 50-80 per cent staff salaries for April

Arvind Fashions, retailer of brands such as Gap, Sephora, Aeropostale and Flying Machine, has deferred 50-80 per cent of its staff salaries for April owing to reduced sales and depleting cash flow amid the lockdown forced by COVID-19. Salary payments may be impacted for a few more months until the situation improves, said people aware of the matter.

The company makes on-account payment for employees to take care of their immediate requirements. Since April is a zero sales month, it is paying the advance and will pay the balance when the situation improves and things become normal. The pandemic has had serious and far-reaching impact on the company’s business and since the start of the lockdown, it has had negligible sales across its brands and channels.

As per the recent letter by the company, employees getting a monthly salary of Rs 15,000 will be entitled to get Rs 8,000 for April while employees drawing salaries of Rs 3-5 lakh will get Rs 75,000 or 20 per cent of net pay, whichever is higher. Similarly, salaries of top management have been slashed by 80 per cent and capped at Rs 1.25 lakh for the month.

LATEST TOP NEWS
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10

Brands, marketplaces expect a strong rebound this festive season

Brands, marketplaces expect a strong rebound this festive season

     Brands as well as online fashion and beauty marketplaces Myntra and Nykaa expect a strong rebound during the festive season after a weak first half impacted by the COVID-19 pandemic.... Read more

Leading Indian brands foray into anti-viral clothing

Leading Indian brands foray into anti-viral clothing

     The pandemic has encouraged many Indian textile and apparel brands, including Reliance, Arvind, Aditya Birla, Donear Group, Raymond Siyaram and few start-ups to enter the market for anti-viral clothing in... Read more

India’s online shoppers to double this festive season: Redseer Consulting

India’s online shoppers to double this festive season: Redseer Consulting

     According to Redseer Consulting, the number of online shoppers in India will nearly double to around 50 million during the festive season this year. This year’s bonanza sales will gain from... Read more

Surendra Savai passes away

Surendra Savai passes away

   Credited for launching the first edition of DFU Publications in 1989, Surendra Tulsidas Savai, President, Mumbai Textiles Merchants Mahajan, passed away on September 15, 2020. He was 81 years old.... Read more

COVID-19: Brands reevaluating luxury businesses in India

COVID-19: Brands reevaluating luxury businesses in India

    COVID-19 is leading to a reevaluation of the luxury business model in India. With the luxury market expected to contract 39 per cent in 2020, businesses across the country are... Read more

Muted demand for ethnic wear expected this festive season

Muted demand for ethnic wear expected this festive season

    With COVID-19 diminishing consumer sentiments, the ethnic wear segment in India could register only 10-20 per cent sales from April to June. However, reports suggest, the arrival of festival season... Read more

Adoption of online shopping to increase post COVID-19: Report

Adoption of online shopping to increase post COVID-19: Report

     A report by KPMG and Retailers Association of India indicates, there will be increased adoption of online shopping, contactless payments and consumers placing safety over price, range and convenience post... Read more

COVID-19 causes US$253 bn loss to Indian retail industry in 5 months

COVID-19 causes US$253 bn loss to Indian retail industry in 5 months

     The Confederation of All India Traders (CAIT) estimates that COVID-19 pandemic has inflicted a loss of about US$253 bn (Rs 19 lakh crore) to India's retail industry in the past... Read more

Fashion brands focus on e-commerce to woo shoppers back to stores

Fashion brands focus on e-commerce to woo shoppers back to stores

    As stores reopen, fashion brands hope to apply their e-commerce learning -- to coax consumers back to stores. Besides updating their websites, these companies also plan to add features like... Read more

CMAI’s 71st National Garment Fair, India’s first digital garment fair takes off

CMAI’s 71st National Garment Fair, India’s first digital garment fair takes off

    One of Indi’s first digital fairs for the garment industry, Clothing Manufacturers Association of India (CMAI) 71st National Garment Fair kicked off yesterday. The online fair is on from September... Read more

MOST POPULAR NEWS
Go to top

Follow Us On:

Face BookDealersForYou

TWDFUpublications

LNDFUpublications

YouTubeDFUpublications

 Copyright © 2020 DFU Publications. All rights reserved.