enhanced_deficit
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90% of "Egyptian Cotton" sheets sold at Target, Walmart were fake; Welspun falls 20%
Lot of peoples money down the drain who were tricked by this massive scam:
Target is offering customers refunds for more than $90 million in knockoff sheets
Target is offering customers millions of dollars in refunds. Reuters
Target is offering customers millions of dollars in refunds after discovering that it sold fake Egyptian cotton sheets.
The sheets were manufactured by Welspun India, a global textile company that's a key supplier to many US retailers including Bed Bath & Beyond, Walmart, JCPenney, and Macy's, Bloomberg reports.
Welspun's shares have fallen 20% after the news.
The sheets were sold at Target for as much as $175 per set under the labels Fieldcrest and Crowning Touch.
Target recently pulled them from store shelves and its website, and now the company is offering a full refund to anyone who bought the sheets between August 2014 and July 2016.
To get the refund, customers must submit must complete and submit this form online. The refund will come in the form of a Target gift card.
Target is one of Welspun's biggest customers, accounting for $90 million in sales in the last fiscal year, according to Bloomberg. Target is now terminating its relationship with Welspun.
http://www.businessinsider.com/how-to-get-target-refund-for-egyptian-cotton-sheets-2016-8
Lot of peoples money down the drain who were tricked by this massive scam:
Target is offering customers refunds for more than $90 million in knockoff sheets
- Hayley Peterson
Target is offering customers millions of dollars in refunds. Reuters
Target is offering customers millions of dollars in refunds after discovering that it sold fake Egyptian cotton sheets.
The sheets were manufactured by Welspun India, a global textile company that's a key supplier to many US retailers including Bed Bath & Beyond, Walmart, JCPenney, and Macy's, Bloomberg reports.
Welspun's shares have fallen 20% after the news.
The sheets were sold at Target for as much as $175 per set under the labels Fieldcrest and Crowning Touch.
Target recently pulled them from store shelves and its website, and now the company is offering a full refund to anyone who bought the sheets between August 2014 and July 2016.
To get the refund, customers must submit must complete and submit this form online. The refund will come in the form of a Target gift card.
Target is one of Welspun's biggest customers, accounting for $90 million in sales in the last fiscal year, according to Bloomberg. Target is now terminating its relationship with Welspun.
http://www.businessinsider.com/how-to-get-target-refund-for-egyptian-cotton-sheets-2016-8
