The funding includes the sale of shares by some existing investors and employees of Nykaa, which has been done at a discount to the $1.2-billion valuation. The latest round comes about a year after the company raised $15 million from TPG Growth, which had valued it at $724 million.

The company said its plant at Sanand in Gujarat which originally manufactures skincare products for the India market has begun production of alcohol-based hand sanitisers, and it will be shifting part of its production towards the making of sanitisers at the plant.

L'Oreal India's operations team will donate hand sanitisers to public health institutions, police forces and NGOs, who are at the forefront of the fight against the virus, said a statement.

The capital infusion comes at a time when risk capital investment activity has almost ground to a halt because of the spread of the Covid-19 pandemic, which, in turn, has forced vertical ecommerce companies such as Nykaa to conserve cash, given the steep plunge in discretionary spending by consumers.

The products are made from certified organic ingredients grown in the company’s 40 hectare farmland near Sanand, Ahmedabad, claimed Aditi Vyas, founder and director.

The company, celebrating its 50th anniversary, has lined up a string of new products for the future.

Since hand sanitisers have been declared as essential commodity under the Essential Commodities Act, action can be taken against dealers involved in hoarding and black-marketing of the product. The retailer/ manufacturer/ trader overcharging a consumer can be prosecuted under the Legal Metrology Act, 2009, and Packaged Commodities Rules, 2011, the government said in a statement.

The decision would empower the central government and states/union territories to regulate prices, production, sale, distribution, transport, movement, storage, information of alcohols used in manufacturing hand sanitizers, used as preventive measure to avoid infection from COVID-19, Ministry of Consumer Affairs said in a statement.

Officials are already taking necessary action against black-marketers and hoarders as per law under the provisions of the Essential Commodities Act. The minister said the practice of social distancing must be followed while distributing ration among beneficiaries, who should be asked to maintain a distance of at least one metre between them.

"The price cap has been imposed taking into account the sharp increase in prices of raw materials used in making of face masks and hand santizer," Paswan said.

“Now we want distilleries that have their own bottling plants to add a new product line - sanitisers - to their line up of alcoholic beverages. This will put off pressure from hand sanitiser industry which is facing huge challenge to meet the demand,” said a senior food ministry official.

The industry will also meet drug controllers to seek and fast-track issuance of required licences and nods. Ethyl alcohol, a key raw material used in a distillery, is also a key ingredient for hand sanitisers. This move comes as the centre has requested state governments to rope in distilleries to make hand sanitisers for the shutdown period till March 31 due to the pandemic.

Sanitisers, available in two sizes 50 ml and 500 ml, are marked at a price of Rs. 25 and Rs. 250 respectively, the company said. In addition to pharmacies, general stores, and VLCC wellness centers, customers can also buy VLCC hand sanitisers from e-commerce platforms such as Amazon, Flipkart, Snapdeal and Nykaa.

“The export of all ventilators including any artificial respiratory apparatus or oxygen therapy apparatus or any other breathing appliance/devices... is prohibited with immediate effect,” the the Directorate General of Foreign Trade (DGFT) said in a notification.

“About 45 distilleries and 564 other manufacturers have been granted permission to produce hand sanitisers. More than 55 distilleries are likely to be given permission in one or two days and many more are being motivated to produce sanitisers in this scenario,” consumer affairs ministry said in a release.

“50% of those surveyed said they were not able to buy at all due to no availability while 26% said they had to buy an unknown brand as reputed brands were out of stock. 8% said they were able to buy reputed sanitizers at a general retail store and 15% said they were able to buy reputed brand sanitizers at a chemist,” LocalCircle survey said.

"The total sanitiser licenses issued in the state is 48 and production ramped up to 50,000 litres per day," Additional Chief Secretary, Information, Awanish Awasthi, told reporters.

Kylie and Kris Jenner have teamed up with cosmetics company Coty to mass produce the hand sanitisers.

Although warehouses are open and delivery staff moving freely, they are operating at suboptimal capacity. Since there is increased consumer demand, there is scarcity of medicines ordered online.

While most brick-and-mortar pharmacies continue to function amid the countrywide lockdown to contain the pandemic, many consumers have switched to buying medicines online for fear of getting infected by the novel coronavirus, industry insiders said.

The Mysuru-headquartered brand is using its fragrance stock to make ayurvedic hand sanitisers ever since its product portfolio comprising incense sticks, prayer and wellness products came under the non-essential category.

Apart from Covid-19 lockdown norms, paucity of adequate stocks and a minuscule discount in retail medicine shops shot the demand for medicine delivery through various e-pharmacy platforms.

The conversations between Reliance and Netmeds, which had also held talks with Walmart-owned Flipkart, had been going on before the coronavirus lockdown, sources said.

SJM national co-convenor Ashwani Mahajan tweeted on this issue, tagging Prime Minister Narendra Modi, to flag his concern. . Mahajan had shared screenshots that said Aarogya Setu now brings to you online medical consultations (call and video), home lab tests and e-pharmacy.

Adidas’s resurgence couldn’t have come at a worse time for Under Armour, which was just gaining a foothold in the sneaker business in US.

The startup, backed by Ratan Tata's investment platform RNT Capital, confirmed his appointment.

The affordable gyms under Talwalkar-Snap Fitness tieup to open first in Singapore and Malaysia.

Researchers at Harvard University in the US created a highly sensitive soft capacitive sensor made of silicone and fabric that moves and flexes with the human body to unobtrusively and accurately detect movement.

VLCC currently operates 20 centres across UAE, Oman, Bahrain, Qatar and Kuwait.

The value of the market in India is Rs 4,579 crore at present.

Anytime Fitness further eyes expansion in Tier II and III market.

The company is looking at a revenue run rate of about USD 50 million by December 2018, from USD 10 million currently. Revenue run rate is a term used to indicate total sales value of merchandise sold through the marketplace over a certain period of time.

This partnership will leverage Talwalkars' infrastructure to promote Mehta's wellness offerings and intellectual property and also help expand the footprint of Mehta's brand.

To mark the occasion of Anti Obesity Day on November 26, the company would provide DNA scan to individuals at its centres countrywide and also educate them on issues leading to the problem such as weight gain, exercise and food habits etc.

The startup plans to raise more going forward to fund its capital expenditure (capex).

It secured Rs 4.18 crore in a funding round with participation from Flipkart cofounder Binny Bansal and Myntra-Jabong CEO Ananth Narayanan, according to data-intelligence platform Paper.vc.

Bansal said the startup has so far raised around $160 million and only less than 20% of the funds were utilised so far and the balance funds will be spent over the next few years towards developing fitness devices and technology platform, apart from expanding the footprint.

Selling sportswear online will open up an additional revenue stream for Curefit, which currently offers four products such as gyms under Cultfit, yoga and meditation centres under Mindfit, health food under Eatfit and primary care with Carefit.

Some see it as fashion that is effortless and comfortable. While gym or performance wear is made mainly of polyester to ensure it dries quickly, athleisure wear is a combination of polyester and cotton.

Care revised its rating on long-term securities to ‘B’ from ‘A+’.

According to Banka, since its launch in the country, Trek has acquired more than 30,000 customers and till now had sold seven bicycles in the range of Rs 6.5 lakh to Rs 12 lakh.

As per the order, the gym is spread over nearly 103 locations across the country.

The deal would value the company at close to Rs 4,300 crore, a premium of about 15% to its previous round of funding which valued the company at over Rs 3,700 crore, according to filings from ministry of corporate affairs sources by TOI.

The smartwatch, which will be available exclusively on Adidas website, will also allow runners to track their runs using GPS mapping.

Eight years after acquiring US rival, Reebok, seems like German sports gear marketer - Adidas has put Reebok on the block.

Dave will report directly to Osman Ayaz, Managing Director of the Emerging Markets adidas Group, the company said in a statement.

Starkenn Sports, which retails sport cycles under the Starkenn brand, plans to roll out its first made-in-India power cycles by August next year.

Hero Cycles plans to set up a fully owned assembly plant in Poland to cater exclusively to Europe, with special emphasis on the UK and Germany.

Hero Cycles picked up majority stake in UK-based Avocet Sports to mark entry into high-end bicycle market in Europe for an undisclosed sum.