BUSINESS
Inflation to remain a worry but demand will be strong in 2022: FMCG players
Fast moving consumer goods (FMCG) makers such as ITC, Parle and Agro Tech Foods weigh in on major trends lie inflation that would have an impact on the industry in 2022.
BUSINESS
HUL, Colgate-Palmolive yet to respond on margin parity with B2B entities: Distributors’ federation
Distributors of fast-moving consumer goods are asking companies for equal margins as those offered to B2B platforms. They had earlier set a December 31 deadline and threatened to drop products from their portfolios if their demand is not met. But are likely to extend the deadline now given the ongoing dialogue with several FMCG companies.
BUSINESS
Omicron effect: Restaurants brace up for a hit on business during New Year’s Eve
Several states, including Maharashtra, Delhi, and Haryana, have imposed night curfews and restrictions on large gatherings. Restaurants were expecting a bumper month on the back of Christmas and New Year celebrations.
TRENDS
K-Beauty: Indians plump for the serum-soaked goodness of sheet masks
With all things K catching the fancy of Indians, these easy-to-use wraps have too, and major beauty brands are lining up their mask-ranges
BUSINESS
Jewellers make hay on the back of bumper wedding season
Gold and diamond jewellery sales have skyrocketed since November due to the record number of weddings taking place with the easing of curbs on large gatherings across the nation.
BUSINESS
Emami-backed The Man Company plans offline expansion; eyes new categories
The male grooming player is rapidly launching exclusive brand outlets and aims to be present in 100 locations through its own stores compared to the current 28 by the end of this financial year. At the same time, it will also foray into new categories such as sexual wellness and personal appliances.
BUSINESS
This spring-summer season, get ready to shell out more to buy clothes, shoes
Retailers are gearing up to hike the prices of apparel and footwear products from February as they grapple with increased GST and high input costs on account of a rise in cotton and yarn prices.
BUSINESS
ITC allays concerns about higher tax on cigarettes, discusses demerger plans in first-ever investor meet
Chairman Sanjiv Puri, while addressing investors, said the company’s strategy has always been to leverage ITC’s institutional strengths and synergies, which have driven growth for the FMCG business. ITC is evaluating the demerger of the FMCG business and separate listing of the IT business to unlock more opportunities, Puri indicated.
BUSINESS
Aditya Birla Fashion and Retail to take over Reebok’s operations in India
Aditya Birla Fashion and Retail on December 14 announced that it will take over Reebok’s operations in India.
BUSINESS
Shopping malls clock over 70% growth in footfalls in October-November
Most shopping malls reported a recovery in sales during the festive months as consumer sentiment improved and the pandemic ebbed
BUSINESS
Dixcy Textiles and Gokaldas Intimatewear merged entity to double turnover in two years: Sunil Sethi of Modenik Lifestyle
The two brands, Dixcy in the men’s innerwear segment and Enamor in the women’s intimate wear space, will henceforth focus on expanding distribution, strengthening supply-chain and other front-end and back-end processes.
BUSINESS
We are curious about India and are figuring out our country strategy: IKEA’s country expansion manager, Per Hornell
On December 9, IKEA India is launching its first small-format store and in Mumbai. The Swedish furniture maker, experimenting with an omnichannel strategy, will have large and small format stores, and e-commerce apps.
TRENDS
Back to office: Some offices have opened fully, others continue with hybrid model
While states have eased pandemic restrictions, not all companies are ready to call employees back to the office. Now, the new variant of the coronavirus isn’t making things easier.
BUSINESS
IKEA to open its first small-format city store in Mumbai on December 9
Swedish furniture retailer IKEA is introducing a small format city store at Worli in Mumbai, a first in the country for the company, which is known for its large-format stores usually located in the outskirts.
BUSINESS
We aspire to become the largest specialty footwear, accessories retailer in India: Rafique Malik of Metro Brands
IPO-bound Metro Brands, which operates 598 exclusive and multi-brand outlets across the country for its in-house and partners like brands Metro Shoes, Mochi, Walkway and Crocs, plans to open 260 more stores over the next few years.
BUSINESS
Modern trade rebounds, clocks 29% YoY jump in September quarter: Kantar
Modern-trade channel was severely impacted by the pandemic and most FMCG companies had witnessed a decline in sales through the channel since Q1FY21. However, with easing of restrictions after the second wave subsided, the channel has made a recovery.
BUSINESS
CJ Darcl gears up to be a full-stack logistics player
The company, which has its mainstay in bulk and full truckload (FTL) and contractual logistics, plans to tap other areas such as e-commerce solutions, warehousing and development.
BUSINESS
Asian Paints hikes prices again, this time by 4-5%, as input costs keep soaring
Asian Paints has taken an overall price hike of 19 percent this financial year so far as it battles inflation in key raw material prices.
BUSINESS
Amazon’s Future Group deal followed same strategy as its More Retail stake buy to skirt Indian laws
The structure of the More Retail deal has been prompted by Amazon’s concerns over Press Note 2 (2018) released by the Indian government to tighten norms for e-commerce companies, said legal experts. New revelations could lead to further scrutiny of the transaction
BUSINESS
Online meat delivery player FreshToHome on offline expansion spree
Start-up plans to take its store count beyond 100 across India as online sales jump by six-seven times in places where it has offline outlets.
BUSINESS
IPO-bound Go Fashion to add 2,000 new stores in six-seven years, says CEO Gautam Saraogi
Go Fashion, which sells women’s bottom-wear under the brand name Go Colors, plans to launch its public offering next week on November 17. The company plans to raise Rs 1,013 crore through its IPO.
BUSINESS
Confident of double-digit growth but margin may contract in short term: Godrej Consumer Products
Godrej Consumer Products reported a 210 basis points decline in EBITDA margins for the second quarter as it battled inflation in key commodity prices.
BUSINESS
Pent-up demand, consumer shift to organised segment helping growth: Kalyan Jewellers
The company is expecting the growth momentum to continue in the third quarter on account of festive sales and wedding season, during which most jewellers witness peak sales.
TRENDS
Pandemic or not; awareness for health, fitness will rise: Puma India MD Abhishek Ganguly
Puma India of late has witnessed growth in its two major product segments – athleisure as well as sportswear – due to heightened consumer consciousness towards fitness. Abhishek Ganguly, managing director, Puma India and Southeast Asiasaid though COVID-19 made Indians realise the importance of fitness, the trend will continue even as the pandemic ebbs.
