Brands
Tata CLiQ Luxury partners with Le Mill to strengthens its luxury fashion portfolio
Mumbai: Lifestyle platform Tata CLiQ Luxury has partnered with Cecilia Morelli Parikh and Julie Leymarie to introduce Le Mill, a multi-brand luxury fashion house. The platform has expanded its existing luxury fashion category with this launch by offering consumers renowned international brands across apparel, accessories, and footwear categories.
Founded by two French women, Le Mill’s Cecilia Morelli Parikh and Julie Leymarie, who were raised in Paris and settled in Mumbai, shared a dream for their adopted city to have a space worthy of its energy and global status. Le Mill was conceptualised to establish a dialogue between Indian fashion and design and iconic international designers and storied fashion houses.
The idea of “Eyes on Paris, Heart in Mumbai” was to focus on the design potential India has to offer by connecting Europe with India and fashion to art.
Apart from the exclusivity of brands, it is Parikh and Leymarie’s knowledge and expertise in ensuring the right curation that has contributed to Le Mill’s popularity and success. Each brand at Le Mill has been carefully handpicked by the founders to suit the needs of the modern Indian woman. With an aim to become a part of customers’ lifestyles in every way, Le Mill offers an exciting assortment of products from leading international brands that one won’t have access to anywhere else in the country.
The Le Mill store on Tata CLiQ Luxury offers consumers a range of leading international brands to shop from, such as Acler, Agua by Agua Bendita, Aje, Alex Perry, Alexis, Ancient Greek Sandals, Bassike, Courreges, Dodo Bar Or, Gauge 81, Jonathan Simkhai, Rhode, Rosantica, Rotate, Three Graces London, and Wandler.
Commenting on the launch, Tata CLiQ Luxury business head Gitanjali Saxena said, “At Tata CLiQ Luxury, we have a very strong portfolio of global brands in our existing fashion category across apparel, accessories, and footwear. As we continue to expand our exciting range of fashion portfolios further, we are delighted to launch Le Mill, a multi-brand luxury house, on the platform. Cecilia and Julie are expert curators, and they have recognised what a modern Indian woman looks for in terms of fashion and style. It houses leading international and contemporary Indian brands and is known for its curation, which caters to the evolving needs of the consumer. We look forward to offering our customers an assortment of prestigious brands under Le Mill as we strive to enhance their luxury shopping experience on the platform.”
Le Mill co-founder Cecilia Morelli Parikh said, “We are thrilled to launch our multi-brand luxury house, Le Mill, on Tata CLiQ Luxury. With this partnership, we are expanding our reach further and increasing our access to consumers across the country. Tata CLiQ Luxury is India’s leading luxury lifestyle platform, and we have a shared vision of offering consumers iconic international brands that are expertly curated along with an elevated online luxury shopping experience. We look forward to a successful partnership.”
Brands
Microsoft faces worst quarter since 2008 financial crisis
Cloud giant battles soaring AI costs and fierce competition from nimble startups.
MUMBAI: When the tech titan starts looking a little wobbly, even the Magnificent Seven can feel the tremors because Microsoft is currently starring in its own sequel, “Clouds and Doubts.” Microsoft is on track for its worst quarterly performance since the 2008 global financial crisis, according to Bloomberg, as investors grow increasingly uneasy about rising capital expenditure and intensifying competition from nimble AI firms. The company has been pouring money into AI infrastructure, yet markets are questioning when these hefty investments will finally deliver stronger revenue growth.
At the same time, investors are shifting away from traditional software stocks amid fears that AI startups such as Anthropic and OpenAI are developing autonomous agents capable of replacing established products, including those from Microsoft. Jonathan Cofsky, portfolio manager at Janus Henderson Investors, noted growing concern that customers may bypass Microsoft and deal directly with AI vendors, potentially disrupting its core business and putting pressure on pricing and margins.
Microsoft’s stock has tumbled 25 per cent in the first quarter, putting it on course for its largest drop since a 27 per cent fall in the fourth quarter of 2008. It has also emerged as the weakest performer among the so-called Magnificent Seven technology stocks, while a broader index tracking the group has fallen 14 per cent over the same period. The shares slipped a further 1.7 per cent after markets opened on Friday, marking a potential fourth consecutive session of declines.
Cofsky pointed out that Microsoft has become more capital intensive and that improved investor confidence will hinge on assurances that software growth will not slow materially. Despite the sell-off, the stock is now trading at less than 20 times projected earnings over the next 12 months, its lowest valuation level since June 2016. Its valuation remains slightly above that of the S&P 500 Index, although it has recently traded at a discount to the broader benchmark for the first time since 2015.
Bloomberg data shows Microsoft’s capital expenditure, including leases, is expected to surge to $146 billion in fiscal 2026, up around 66 per cent from $88 billion in fiscal 2025. Spending is projected to climb further to $170 billion in fiscal 2027 and $191 billion in fiscal 2028, based on average estimates. Investors are growing cautious about such levels of spending without clearer signs of stronger growth.
Microsoft’s Azure cloud division has reported a slight slowdown in growth compared with the previous quarter, while its Copilot AI product has seen limited user traction, prompting internal changes aimed at improving performance. Ben Reitzes, an analyst at Melius Research, warned in a March note that Microsoft’s upside in Azure could be constrained as the company works to address challenges related to its AI models and Copilot offering, adding that these issues are unlikely to be resolved in the short term.
Of the 67 analysts covering Microsoft, 63 maintain buy ratings, three hold ratings and one a sell rating. The average 12-month price target of $592 implies a potential upside of more than 64 per cent, the highest on record based on data going back to 2009. The stock is also trading below its 200-day moving average by the widest margin since 2009.
Reitzes suggested the dominance of buy ratings may indicate complacency among analysts, while highlighting risks in Microsoft’s productivity and business processes segment as well as its More Personal Computing division. In contrast, Tal Liani of Bank of America reinstated coverage with a buy rating, citing durable multi-year growth prospects across cloud and AI. Jake Seltz, portfolio manager at Allspring Global Investments, maintained that Microsoft retains strong long-term value and that its AI strategy is likely to be validated over time, viewing near-term concerns as a potential opportunity for longer-term investors.
The report highlights a growing divergence in market sentiment, with optimism around long-term AI potential weighed against immediate execution risks and investor uncertainty. In the world of big tech, even the mightiest clouds can have silver linings but right now, Microsoft’s investors are scanning the horizon for clearer skies.
