Coronavirus effect at Retail & Textile Industry

               Coronavirus effects at Retail & Textile Industry

1.    Coronavirus Impact: Mall operators may lose up to 25% of their annual revenue
2.   Apple shuts all retail stores outside Greater China until further notice.
3.   India's Feb merchandise exports rise by 2.91%. India Export may be benefitted more because of China invention of Coronavirus.      
4. Grocers limit food purchases, urge shoppers not to hoard as panic buying continues.
5. Asia's garment industry sees lay-offs, factories closing due to coronavirus.
6.  Export body advises members to widen sourcing, reduce dependency on China.
7. Lavie launches new brand Lavie Sport.
8.  More U.S. retailers shut stores to limit coronavirus spread till March 27.
9. Demand dives at apparel retailers as virus-wary shoppers stay home
10. Apparel exporters should learn from Bangladesh, Vietnam to push shipments: AEPC
11. Walmart reduces hours at US stores to keep up with the surge of shoppers. The store will open from 6am to 11pm at the place of 24 Hours.
12. Mandatory for government departments to make 20 per cent handloom purchase from KVIC, registered weavers.
13. Macy's, Hudson's Bay to temporarily close U.S. stores due to virus outbreak
14. Textile industry body seeks relief package to mitigate COVID-19 pandemic impact, Apart from the reduction in the bank interest rate and extension of soft loans.
15. CCI imposes Rs 302 cr penalty on Grasim Industries.
16. ICRA expects Indian apparel exporters to report a moderation in profitability
17. FY20. Flipkart's Rishi Vasudev appointed CEO of Lifestyle International.
18. Kroger largest supermarket chain in the U.S CEO: We have hired 2,000 people and have 10,000 openings in response to coronavirus demand.
19. McDonald’s asks US franchisees to close dining rooms amid coronavirus outbreak.
20.  Fashion startup Styched launches new portal Styched Life.  Business Mantra production will be on-demand, fashion brand claims to be a one-stop-shop for fan-based merchandise.