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Reliance Brands sets up JV with Italian luxury menswear co

Reliance has set up a joint venture with Italy's Ermenegildo Zegna Group.

Ermenegildo Zegna Group will be holding 51 % and Reliance Brands 49%.

Through this JV, the company aims to ramp-up the operations and create a national footprint to capture the potential of the Indian luxury market.

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Ermenegildo Zegna Group has been present in India since 2003.

It was one of the first global luxury brands to get FDI approval for mono-brand retail following liberalisation by the Indian Government.

P&G takes 20% price cut, J&J may follow suit

Procter & Gamble India (P&G) has decided to cut prices of select products even as input costs have started pinching.

With P&G is taking a price cut, rival Johnson & Johnson may also follow suit, leading to a price war of sorts.

The penetration of feminine hygiene products in India is 12% as compared to 64% in China.

Railways to introduce five-digit train numbering

Passengers booking tickets in Mail and Express trains need to add prefix 1 before the existing four-digit numbers while checking the reservation position through the enquiry system.

This has been done to bring uniformity and logical basis for numbering of trains.

The new five-digit numbering system will be effective from December this year.

Jet Airways retains No. 1 spot on domestic circuit

Jet Airways and Kingfisher Airlines have retained their leadership positions in the domestic aviation industry in August.

Jet Airways and its no-frills arm JetLite enjoyed a combined 26% share while Kingfisher Airlines had a 20% market share, Air India had18% market share.

Load factors for domestic airliners dropped to 72.5% in August from about 76% in July this year.

Metro Cash & Carry to open centers in Punjab

Germany-based Metro Cash & Carry will make its wholesale distribution centers at Zirakpur and Ludhiana operational by mid-2011.

These centers would focus on agriculture and employment generation in allied farming thus, contributing to the development of the state.

CEO of Metro: Frans Muller