The death of brick-and-mortar is definitely trending. But is it true?
The jacket is part of Norden's plans to broaden its collection to include footwear, totes and bags.
NEW DELHI — Seven years after 100 percent foreign direct investment in single-brand retail was allowed in India, the country’s government has finally relented to make it easier for global brands. In September 2012, India opened its doors to global brands with what many found was a dismaying clause — the retailer had to source 30 percent of the goods sold in the stores from India, and e-commerce was not allowed unless the retailer had a brick-and-mortar presence. With high real estate rentals, and malls just beginning to grow throughout the country, it was a challenging situation for retailers, which were eager to expand into one of the fastest growing markets in the world. On Wednesday, the Indian government unveiled a relaxation of those rules, bringing down the 30 percent sourcing requirement to 10 percent, provided the firms export 20 percent of their products to other countries. “The changes in the foreign direct investment (FDI) policy will result in making India a more attractive FDI destination, leading to benefits of increased investments, employment and growth,” Piyush Goyal, the commerce minister, told a media briefing. “Online sales will lead to the creation of jobs in logistics, digital payments, customer care, training and product skilling.” TheRead More...
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