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Goa BJP chief hints at another heavyweight Cong leader joining ruling party
On the eve of Congress General Secretary Priyanka Gandhi Vadra's visit to Goa on Friday, state BJP president Sadanand Shet Tanavade hinted that a senior Goa Congress leader could be switching over to the ruling party. To a question from a mediaperson about the likelihood of a Congress heavyweight joining the BJP on Friday, Tanavade late on Thursday said: "I am not denying, but someone could be joining".
In all, 14 Congress MLAs have joined the BJP since 2017, leaving the Congress party with just three MLAs in the 40-member state legislative Assembly. Tanavade's comment comes not only days after former Chief Minister and Congress MLA Ravi Naik quit his legislatorship and joined the BJP on December 7, but ahead of Priyanka's day-long visit to the coastal state on Friday.
Priyanka is scheduled to visit a tribal village, Morpirla in South Goa where she will interact with local residents, state Congress president Girish Chodankar said. Priyanka will also interact with students, who were at the forefront of a campaign to protest deforestation at the Mollem wildlife sanctuary to make way for road, rail expansion and a power project. "She will also be addressing a women's convention and preside over a function, where a large number of activists are joining the Congress party," Chodankar said.
Also Read I Goa elections 2022: Priyanka Gandhi set to launch poll campaign on Dec 10
Strachan concludes: “We expect the steps to reduce rent and close stores temporarily, or reduce daily trading hours, will make retailers with a large physical store presence consider long term store closures and portfolio rationalisation, particularly as online penetration continues to build across Europe. This will lead to higher vacancy rates through European towns and cities, and the shrinkage of the indoor shopping centre/mall channel over the next few years as major anchors withdraw from underperforming locations.”
Geoffroy van Raemdonck, Chairman and Chief Executive Officer of Neiman Marcus Group stated, “Prior to COVID-19, Neiman Marcus Group was making solid progress on our journey to long-term profitable and sustainable growth. We have grown our unrivaled luxury customer base, expanded our industry-leading customer relationships, achieved higher omnichannel penetration, and made meaningful strides in our transformation to become the preeminent luxury customer platform. However, like most businesses today, we are facing unprecedented disruption caused by the COVID-19 pandemic, which has placed inexorable pressure on our business.”
“These are early days for business to look up. These are just symbolic that business has started. Something to be looking forward to in these times. Any sane and practical business person would know that it is going to take some time before business normalises to where it should be,” Sanjay Vakharia, CEO, Spykar Lifestyles told PTI.
“Every store in every country in which we operate is now closed. We are losing sales of £650 million a month as a result. We have therefore been left with no option. We have large quantities of existing stock in our stores, our depots and in transit, that is paid for. If we had not taken this action, we would be taking delivery of stock that we simply could not sell. This has been unprecedented action for unprecedented and frankly unimaginable times,” a Primark spokesperson had told ‘Quartz’ via email.
Sundeep Chugh, Managing Director and CEO, Benetton India told PTI that although “there is certainly no specific discounting strategy post lockdown, as a brand we would want to uplift the sentiments of our consumers through a welcome-back strategy encapsulating season specific offers and engagements at our stores”. Chugh further said,”We anticipate the lockdown would be lifted by/during mid-season, and that’s the time when generally mid-season offers prevail and we would mostly align with the same as per the market ecosystem.”
– Majority Members will not be able to pay Wages for April & May: 67 percent (2/3rd) of the members will not be able to pay wages for April. With zero sales and collection, NO support for additional working capital from banks, factories don’t have the funds to pay wages. Non-payment of wages could lead to significant unrest. CMAI members are worried that owners may not be able to visit their factories, if wages are not paid. The severity of the crisis facing the Industry is unprecedented. CMAI once again appeals to the Government to save the MSME Industry. Immediate support on Direct Wage Transfer or Mandatory disbursement of Working Capital Loan is required on an SOS basis.
– The sector has been reeling under severe financial stress, so interest rate reduction should be considered under short-term recommendations to ease financial stress. And for long-term, credit ratings-based loan facilitation for MSME players should be reviewed in order to make the sector competitive/lucrative
Commenting on his appointment, Sunil Sethi said, “I am honoured to be selected as Executive-Chairman and to come onboard with Advent International, one of the largest global private equity firms. Both Dixcy and Gokaldas are poised for great success, with a strong business model to capture the market opportunity. I look forward to working with the team at these companies to further strengthen our market leadership across all business segments and take them to the next level of success”.
This trend will escalate with smaller players following suit once the benchmark has been set by those with influence. The likes of Intu, Hammerson, Unibail-Rodamco-Westfield and Kleppierre will therefore be under even more strain to raise funds, reduce debt and protect the performance of their assets.
“What we are doing over there is we are ensuring all the SOPs that the company has laid down are followed. We are ensuring that they follow these protocols so that the consumers are absolutely safe, so that the staff in the store is safe…Internally we have decided not to open any store which is a COFO store till the May 17 till we have an understanding of the situation,” Vakharia further told PTI, elaborating on the company’s strategy for restarting business.
Throughout Levi’s long standing existence, it has seen enough disruption – right from the Great Depression, World War II to the deadly Spanish Flu of 1918. According to Sanjeev Mohanty, Managing Director – South Asia, Middle East & North Africa, Levis Strauss & Co., the brand is confident that it will overcome the current COVID-19 pandemic and emerge stronger than ever.
The brand has earlier collaborated with music bands, dance groups, comics, athletes, sports franchises and charitable organizations. Some of these include Underground Authority, M-Zee Bella, Agsy, Hip Hop India, High on Dance, Diamond Comics, Amar Chitra Katha, Bengaluru Raptors and Cricket Association for the Blind in India and more.
With sales estimated to be zero during the lockdown period and rising order cancellations from consumers, retail brands will definitely experience a pile-up of inventory. For brands and retailers, the need of the hour is to ensure safety of their staff, manage cash flows, adjust sales forecasts, revise inventory projections, examine marketing strategies and introspect how operations will be carried out. Thinking smart and modifying the value proposition in line with the realities of the market, are the only ways to keep the momentum going once the state of normalcy returns. For instance, apparel brands need to figure whether it still makes sense to release a resort wear or holiday collection when leisure travel is not what people will have on their minds this summer. Business owners will have to think on their feet and make quick decisions basis the market sentiment and customer requirements. Customer experience should not be compromised on and businesses should be ready to spot gaps to fill. Moreover, just like employees, it is important to keep communication open with customers to ensure a long-term relationship with them.
The ongoing global pandemic has brought a lot of businesses to a grinding halt across the globe. Though it is an unprecedented situation, it is imperative for brands to measure its impact and devise strategies to bounce back. At Blackberrys, we are taking this lockdown phase as a great opportunity to unravel the values of our brand and analyse what the brand could mean in the future. We are working on adding new product categories and reinventing ourselves by focusing on sustainable fashion which we have been trying to do from many years.