Steinhoff: IPO with discount subsidiary Pepco
The ailing South African trading group Steinhoff is going public with its European low-cost subsidiary Pepco: this was reported by the German business newspaper "Handelsblatt".
The Rug Republic: initiative to protect Indian children
The Indian carpet manufacturer The Rug Republic has joined forces with the NGO Child Rights and You (CRY) to ensure the safety of children during the pandemic and help them continue their education: Every time someone donates IRS 4000 or more to CRY, The Rug Republic will send them the coffee table book "7 Lessons from Everest – Expedition Learnings from Life and Business" as a gesture of their appreciation.
Balta: Enormous growth in rugs in Q1
Balta has started 2021 with significantly improved adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation): At EUR 21.2 million, it is now 23.9% higher than last year; the margin has risen from 10.7% to 13.9%. The Belgian machine weavers are thus increasingly recovering from the pandemic-related downturn. Balta's consolidated revenue for Q1 2021 amount to 152.6 million EUR (-4.5 % compared to the previous year).
Editor-in-chief of trade magazine "Möbelmarkt" passes away
On Thursday, 15 April, the editor-in-chief of the trade magazine "Möbelmarkt" died at the age of 67 after a short, serious illness. Helmut "Max" Merkel joined the magazine in 1988, then ran his own advertising agency for a few years and returned to "Möbelmarkt" in 1999, where he became editor-in-chief.
Ebay starts project for local online-marketplaces
Together with ten German cities, Ebay Germany is launching a project to strengthen local trade. "Ebay – Deine Stadt" ("Ebay – Your City") is designed to enable cities and municipalities to set up local online marketplaces.
Amini / ABC Italia now Step partner
Amini and its parent company ABC Italia are now partners of Label Step. The non-profit organisation with headquarters in Switzerland has the goal of improving the living and working conditions of carpet weavers.