One of the top executives at a fashion retailer recently announced his impending resignation in order to prioritise the professional ambitions of his wife.

Rubin Ritter, the co-chief executive of Zalando said that he would resign before the company’s annual meeting in May next year “to devote time” to his “growing” family. "My wife and I have agreed that for the coming years, her professional ambitions should take priority," he said on Sunday.&nbsp;

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-unemployment-biggest-casualty-of-the-pandemic-303720/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Also read:&nbsp;<a href="http://13.235.153.162/world/coronavirus-pushes-up-german-unemployment-short-time-work-302923" hreflang="en">Coronavirus pushes up German unemployment, short-time work</a>

Ritter, who headed the strategy and communications operations at Zalando had said that he was “eager to explore new interests”. His contract was set to expire in November 2023.

The gender pay gap in Germany is very high, remaining one of the highest in Europe. On average, woman earned 20 per cent less than men in 2019, based on stats revelled by Destatis. Many women in Germany work part time, and the COVID-19 pandemic has hit women more intensely than men.

It is unclear yet what Ritter’s wife is set to pursue. But one thing is clear: Women do this for their husbands all the time, but rarely any such stories get picked up.&nbsp;

Also read:&nbsp;<a href="http://13.235.153.162/world/us-watchdog-finds-flaws-in-key-unemployment-data-346604" hreflang="en">US watchdog finds flaws in key unemployment data</a>

Even in India, due to the lockdown and slowdown triggered by COVID-19, women have suffered more than men, according to a survey conducted by ActionAid Association. According to the survey, 79 per cent women were left unemployed.&nbsp;

According to McKinsey, global loss of jobs for women is 1.8 times greater than men. In the US, personal care and food service operations have been hit the hardest - which are predominantly run by women. Another McKinsey survey among women in North America revealed that many women were contemplating leaving work due to inflexibility during the pandemic, and stress.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;

One of the top executives at a fashion retailer recently announced his impending resignation in order to prioritise the professional ambitions of his wife. Rubin Ritter, the co-chief executive of Zalando said that he would resign before the company’s annual meeting in May next year “to devote time” to his “growing” family.

One of the top executives at a fashion retailer recently announced his impending resignation in order to prioritise the professional ambitions of his wife. Rubin Ritter, the co-chief executive of Zalando said that he would resign before the company’s annual meeting in May next year “to devote time” to his “growing” family. "My wife and I have agreed that for the coming years, her professional ambitions should take priority," he said on Sunday. Also read: Coronavirus pushes up German unemployment, short-time work Ritter, who headed the strategy and communications operations at Zalando had said that he was “eager to explore new interests”. His contract was set to expire in November 2023. The gender pay gap in Germany is very high, remaining one of the highest in Europe. On average, woman earned 20 per cent less than men in 2019, based on stats revelled by Destatis. Many women in Germany work part time, and the COVID-19 pandemic has hit women more intensely than men. It is unclear yet what Ritter’s wife is set to pursue. But one thing is clear: Women do this for their husbands all the time, but rarely any such stories get picked up. Also read: US watchdog finds flaws in key unemployment data Even in India, due to the lockdown and slowdown triggered by COVID-19, women have suffered more than men, according to a survey conducted by ActionAid Association. According to the survey, 79 per cent women were left unemployed. According to McKinsey, global loss of jobs for women is 1.8 times greater than men. In the US, personal care and food service operations have been hit the hardest - which are predominantly run by women. Another McKinsey survey among women in North America revealed that many women were contemplating leaving work due to inflexibility during the pandemic, and stress.

Top European fashion retailer co-chief quits to prioritise wife's work ambitions

India&#39;s biggest e-commerce firm Flipkart is buying domestic online fashion retailer Jabong from Global Fashion Group for $70 million in cash, the latest consolidation move in the country&#39;s e-commerce sector as competition intensifies. 
 
Flipkart unit Myntra, India&#39;s largest online fashion retailer which is buying Jabong, said today that the two sites will have a combined base of 15 million monthly active users. Global Fashion Group is backed by Germany&#39;s Rocket Internet and Sweden&#39;s Kinnevik. 
 
Niche e-commerce players in India are facing greater competition from both domestic rivals and the likes of Amazon.com Inc, at a time when industry valuations have begun to cool. 
 
Rocket Internet had flagged earlier this year that business was tough in India, warranting more investment by Global Fashion Group. 
 
The deal puts Myntra, which itself was bought by Flipkart for about $300 million last year, in a stronger position to take on Flipkart&#39;s biggest local rival Snapdeal and Amazon, which has pledged to invest over $5 billion in India to boost market share in the country. 
 
Amazon&#39;s huge bet and tough competition have already prompted some small local players to consolidate. Privately held Indian conglomerate Future Group, which owns a string of fashion and retail assets, earlier in 2016 bought online furniture retailer FabFurnish.com. 
 
The e-commerce fashion retail space in India has especially been attracting investment from not only established names such as Flipkart, Snapdeal and Amazon, but also from newer entrants like Reliance Industries - India&#39;s largest company, which outlined plans to roll out an e-commerce website in April. 
 
India&#39;s e-commerce market is seen as having potential though, with annual sales of $36.7 billion expected by 2020, consultants KPMG said in report in November. 
 
The Myntra and Jabong sites will exclusively offer international brands. 
 
(Reuters)

The deal puts Myntra in a stronger position to take on their biggest local rival Snapdeal and Amazon

India's biggest e-commerce firm Flipkart is buying domestic online fashion retailer Jabong from Global Fashion Group for $70 million in cash, the latest consolidation move in the country's e-commerce sector as competition intensifies. Flipkart unit Myntra, India's largest online fashion retailer which is buying Jabong, said today that the two sites will have a combined base of 15 million monthly active users. Global Fashion Group is backed by Germany's Rocket Internet and Sweden's Kinnevik. Niche e-commerce players in India are facing greater competition from both domestic rivals and the likes of Amazon.com Inc, at a time when industry valuations have begun to cool. Rocket Internet had flagged earlier this year that business was tough in India, warranting more investment by Global Fashion Group. The deal puts Myntra, which itself was bought by Flipkart for about $300 million last year, in a stronger position to take on Flipkart's biggest local rival Snapdeal and Amazon, which has pledged to invest over $5 billion in India to boost market share in the country. Amazon's huge bet and tough competition have already prompted some small local players to consolidate. Privately held Indian conglomerate Future Group, which owns a string of fashion and retail assets, earlier in 2016 bought online furniture retailer FabFurnish.com. The e-commerce fashion retail space in India has especially been attracting investment from not only established names such as Flipkart, Snapdeal and Amazon, but also from newer entrants like Reliance Industries - India's largest company, which outlined plans to roll out an e-commerce website in April. India's e-commerce market is seen as having potential though, with annual sales of $36.7 billion expected by 2020, consultants KPMG said in report in November. The Myntra and Jabong sites will exclusively offer international brands. (Reuters)

Flipkart's Myntra acquires Jabong for $70 million in cash

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