BUSINESS
Letter to CCI was triggered by Singapore arbitrator’s ruling: Future Retail’s Ravindra Dhariwal
SIAC had said three commercial agreements between Amazon and Future Coupons must be read together and not separately. If read together, they violate FEMA, SEBI and FDI rules.
BUSINESS
Mix and match: Wider range of drink mixers now widely available in India
The cocktail culture boom in the country has led to companies such as Svami Drinks and Jimmy’s Cocktails supplying a range of mixers. The market for cocktail mixers is estimated to touch Rs 7,000 crore by 2030.
BUSINESS
Jewellery demand surpasses pre-Covid levels in Dhanteras
Jewellery retailers across India report a 20-40 percent growth in footfalls on Dhanteras; Tier-II cities outpace Tier-I cities in demand surge.
BUSINESS
Prolonged raw material price rise never experienced before: Ullas Kamath, joint MD, Jyothy Labs
Ullas Kamath, joint MD of Jyothy Labs, talks to Moneycontrol about the company’s second-quarter performance and battling inflation on all fronts.
BUSINESS
Platinum jewellery sales growth edges close to pre-pandemic levels: Platinum Guild
With the ebbing of the second wave of Covid-19, platinum jewellery is back in demand, according to Platinum Guild International, a global marketing organisation. The metal’s sales growth in India was over 21 percent in July-August compared with over 25 percent growth up to 2019.
BUSINESS
Inflation remains a big concern going forward, says Dabur India CEO Mohit Malhotra
The company is going to mitigate the impact of higher raw material cost on its margins through price hikes and cost-saving initiatives.
BUSINESS
Rural growth engine slowed in September quarter, further downslide expected in the quarter ahead: Report
Packaged consumer goods makers such as Hindustan Unilever, Emami, and Marico have reported slower sales growth in rural areas during the last quarter in the aftermath of the second wave of Covid-19.
BUSINESS
Why Dabur made a dash for the diaper segment
Dabur earlier this week entered the baby diaper category. Though a high-margin and lucrative product segment, the diaper market presents several challenges. The company has to tackle competition from brands such as Pampers and Mamy Poko Pants.
BUSINESS
Future vs Amazon: Delhi High Court rejects Future Retail’s plea seeking stay on Emergency Arbitrator’s order
Future Retail had moved to Delhi High Court seeking a stay on an interim order passed by the Singapore-Based Emergency Arbitrator on October 2.
BUSINESS
Expect a double-digit revenue growth in the second half of FY22: Saugata Gupta, MD and CEO, Marico
Marico reported a 22 percent surge in its consolidated revenue and an 8 percent jump in its net profit for the quarter ended September on Thursday. Going ahead, the company expects a strong performance in the remaining quarters despite inflation impacting its margins.
BUSINESS
P&G hikes prices by 4-11% across the product portfolio
Procter & Gamble Hygiene and Health has upped prices of most of its brands such as Tide, Ariel, Head & Shoulders, and Pantene as it grapples with rising raw material costs
BUSINESS
Asian Paints, Berger Paints hike prices in highest-ever increase
Asian Paints, which has already taken a 7.5 percent cumulative price increase in the last six months, plans to further hike prices by 7-10 percent, while Berger Paints, too, has taken a high single digit price increase, said brokerages.
BUSINESS
Food services industry contracts 53% due to pandemic: NRAI report
A report released by the National Restaurant Association of India (NRAI) says that the industry witnessed permanent closure of over 25 percent of food business operators, which resulted in job losses for nearly 24 Lakh people, due to the COVID-19 pandemic.
BUSINESS
Tata Consumer Products’ margins to improve in quarters ahead as inflation in tea tapers off
Tata Consumer Products witnessed a 70-basis-poins sequential drop in Ebitda margin for the second quarter on account of a rise in advertising and promotion spending.
BUSINESS
Reliance Retail back to pre-COVID levels led by strong growth in fashion and lifestyle categories
The retail arm of Reliance Industries posted an 11 percent year-on-year jump in its revenues to Rs 45,426 crore for the second quarter-ended September, while net profit jumped by 74 percent to Rs 1,695 crore as compared to the same period last year.
BUSINESS
IPO-bound Nykaa acquires home-grown D2C brand Dot & Key
This is the first acquisition by Nykaa, which is launching its initial public offering on October 28, in the direct-to-consumer space.
BUSINESS
Jubilant FoodWorks slammed by investors due to weak SSSG, expects strong growth in remaining FY22
Despite a jump in revenue and profit. Jubilant FoodWorks failed to impress analysts with its second quarter results on account of lower-than-expected same-store sales growth and like-for-like sales for new stores. The management, however, expects the quarters ahead to be strong for the entire food service industry.
BUSINESS
The Good Glamm Group acquires digital media platform ScoopWhoop
The direct-to-consumer brand MyGlamm had introduced The Good Glamm Group in September and announced its plans to acquire six brands in the beauty and personal care space before March. The company earlier in October had acquired The Moms Co in a Rs 500-crore-deal.
BUSINESS
Why designer labels have caught the fancy of retail majors
Reliance Retail on Tuesday announced it has bought a majority stake in designer label Ritu Kumar. This is the second investment by the company in a couture brand in just a week’s time.
BUSINESS
Rural growth moderated in second quarter: HUL CMD Sanjiv Mehta
As the urban markets emerged from the woods and witnessed growth during the second quarter ended September, the rural markets moderated, Sanjiv Mehta, CMD of Hindustan Unilever, said at a media briefing.
BUSINESS
Reliance Retail acquires 52% stake in Ritu Kumar brand
This is second investment by Reliance Industries in a designer brand in a week’s span. Earlier on Friday, Reliance Brands had signed a definitive agreement to invest in founder and creative director Manish Malhotra’s eponymous brand for a 40 percent minority stake.
BUSINESS
Cadbury maker Mondelez India’s ‘tailor-made’ approach for e-commerce and festivals
The company has launched a slew of products and package sizes on online marketplaces as well as its own direct-to-consumer platform that are not available in the offline stores.
BUSINESS
Retailers anticipate bumper Diwali as festival spirit lifts consumer sentiment
Offline retailers across the categories reported a surge in sales and footfalls with the approach of the festivals with increased traction for categories such as large appliances, smart watches, home furnishings and kids’ wear.
BUSINESS
Duroflex raises $60 million from Norwest Venture Partners
Mattress brand Duroflex earlier raised $22 million growth fund in 2018 from Lighthouse Funds for a 25 percent stake in the company. With the recent fund raise, Lighthouse Funds will dilute some of its stake in the company but remain largely invested in it.
