New Delhi sources stated that Baba Ramdev led Patanjali Ayurved on Monday forayed into the fast growing branded apparel segment through its brand 'Paridhan' and expects a sale of around Rs 1,000 crore next fiscal. Meanwhile the Haridwar based firm plans to open around 100 outlets of Paridhan by the end of this fiscal and have a network of around 500 stores by March 2020, mostly on franchise model. Accordingly it has introduced three brands Livfit, Aastha and Sanskar targeting customers across all age groups.
Baba Ramdev said "This year, we would have a network of 100 stores ranging between 500-2,500 sq feet and they are aiming a turnover of around Rs 1,000 crore in the next fiscal”. Further he further added" It would also be available online by next year. We are working on it, while Sanskar would be a range of menswear, Aastha is a women's brand and Livfit would have a range of sportswear and Yoga dresses.
He said "Our target is to compete with multinational companies in this field such as adidas, Puma," adding the Paridhan range would be around 30-40% cheaper and would target ordinary people. Moreover the company may plan to have standalone store of its three brands, depending on the catchment area and availability of space, said K M Singh, who is heading the apparel business of Patanjali. Further Patanjali, which had recorded multi-fold growth in recent years, witnessed a marginal growth only last fiscal hit by the implementation of GST, finishing at around Rs 12,000 crore.
Alibaba makes record selling in first five minutes & $10 billion figure achieved As per report Chinese e-commerce giant Alibaba announced generation of whopping $30.8 billion in terms of Gross Merchandise Value (GMV) during Singles' Day sale the 24 hour annual shopping event held on November 11, beating the last year's record of $25 billion. Meanwhile around 180,000 brands had participated in the sale on all retail platforms of the company. Apple, Xiaomi
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