VODAIDEA TO PARE 16,000 DISTRIBUTORS, 2,000 STORES

NEW DELHI: Vodafone Idea is in the process of reducing the number of its distributors by 16,000 and branded stores by 2,000 by the end of this fiscal, a company document said. The company plans to reduce the number of its distributors from around 43,000 to 27,000 by December. Vodafone Idea has around 6,000 branded retail stores, which it plans to cut to 4,000 by March 2019, the document said. The company also plans to reduce the number of its call centres to 38 from 82 at present by March 2019 as part of its integration plan. Vodafone Idea expects to achieve business integration by March 2021. While Vodafone Idea is the largest telecom operator in the country, it continues to be under debt burden of around ₹1.2 lakh crore and has been losing mobile customers. The company reported a consolidated loss of ₹4,973 crore for the September quarter.

Jet’s independent director Ranjan Mathai resigns

BENGALURU: Debt-laden carrier Jet Airways (India) Ltd’s independent director Ranjan Mathai resigned late on

Thursday, citing rising pressure from other commitments. The departure comes as the airline struggles to keep itself afloat, with rising debt levels and higher oil prices weighing on profits. Indian conglomerate Tata Sons Ltd said last week it is in preliminary talks with Jet, but has not made a proposal to buy a stake. “I am no longer able to devote the time required to meet my obligations, as an independent director on the board of Jet Airways and have accordingly decided to resign from the board,” Mathai said in a statement issued by the airline.

D&G owners make video apology over race row

BEIJING: The co-founders of Dolce & Gabbana apologized on Friday in a video on Chinese social media after promotional videos seen as racist and subsequent Instagram messages stoked a furor in one of the world’s largest markets for luxury goods. Domenico Dolce and Steffano Gabbana appeared in a nearly 1 ½ minute video posted on Weibo, a Chinese version of Twitter, saying they hope to be forgiven and will do their best to better understand and respect Chinese culture. “We have always been in love with China,” said Dolce. “We love your culture and we certainly have much to learn. That is why we are sorry if we made mistakes in the way we expressed ourselves. “

The Italian fashion house has been in hot water for the videos and subsequent insulting remarks made by the Instagram accounts of both the company and Gabbana. It blamed hackers for the Instagram comments. COMPILED FROM AGENCIES