Honda Targets Growth With New Models
Honda Cars India is banking on the launch of its three new models this fiscal to beat market growth, says a report.
The company, which posted an eight per cent growth in 2017-18, will unveil the all-new version of its compact sedan Amaze next month to kick start its product offensive for the year.
Later in the second half of the year, the company will launch the new version of its premium SUV CR-V and the Civic sedan which will make a comeback in India with the 10th generation of the model.
Capsule Hotel Firm Plans Expansion
India’s first capsule hotel firm Urbanpod is planning to launch 800 pods at six to seven locations in the next two years reveals a report.
“Currently, we are operational in one location, that is Mumbai, which has 140 pods.
We are getting a lot of enquiries and are exploring strategic-partnerships with property-owners who can take up franchise. We are expecting to be working at 6-7 locations with 800 pods,” Urbanpod co-founder and director Hiren Gandhi told PTI.
New Entrants Fall In Telecom Industry
The shakeout in India’s smartphone market saw number of new entrants nearly halved between 2015 and 2017, according to a report.
Exits grew six-fold as the capital intensive business weeded out weak players unable to sustain and expand as competition capped prices.
The top five smartphone brands – Xiaomi, Samsung, Oppo, Vivo and Huawei – currently control over 72% of the market against 63% in 2015, albeit with a different brand combination. The top 15 have cornered over 90%, of the market according to Counterpoint Research and experts believe exits and consolidation will gather pace this year.
Reliance Brands Seeks Indian Designers
Reliance Brands is said to have reached out to nearly half a dozen Indian designers for a potential stake in their businesses, according to a report.
It sells luxury labels such as Ermenegildo Zegna, Bally and Brooks Brothers in India.
The Reliance Industries subsidiary reached out to Raghavendra Rathore, Rajesh Pratap Singh among other designers to explore the possibility of investing in their businesses, said sources.
Amazon, Flipkart Planning Mega Sales
Flipkart and Amazon have planned a toned down version of their mega sales this month, says a report.
The two marketplaces have already started stocking up for the sale and have purchased 70-80% of what they typically procure for their festive sales, which is an indicator of the size of the planned event.
Heavy discounts will be offered on smartphones, televisions, apparel, home decor and daily-need items on the country’s two biggest online marketplaces.
IT Employees Unhappy With Salary Hike
Indian IT services companies’ employees have been granted single digit salary hikes even when companies are paying out a greater portion of their variable pay component in response to faster growth and higher people attrition, reveals a report.
Many employees are unhappy over marginal hikes on fixed pay and that they have to fall back on their quarterly bonuses for a pay boost.
The displeasure has spilled out on to social media, with many contrasting their hikes against large payouts made to investors on one hand and the rise in IT company valuations.
FBB Sales Surge To New High
India’s leading retailer Future Group’s value fashion format FBB is on a roll with its sales surging in the year to March 2018, according to a report.
The company sold about 200 million pieces of garments in the year to March 2018, which is a fifth of what the world’s top two apparel retailers, Zara and H&M, sold individually in 2017.
Future Group’s CEO Kishore Biyani said FBB should enter the league of world’s top 10 apparel retailers by selling 320-350 million pieces of garments this fiscal year.
MPV Making Comeback In Indian Market
The sturdy multipurpose vehicles (MPV), which trailed the more muscular SUVs of late, are making a robust comeback in the Indian xmarket.
About half a dozen new models are likely to hit local roads in the coming 12-24 months, helping expand the MPV market.