Business Roundup #Week07

Business
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Godrej To Develop 6 Pune Properties

Godrej Properties has set up an equity investment platform in partnership with a Pune-based developer to develop six projects across the city, says a report.

This portfolio comprises various asset classes including group housing projects, plotted development, mixed-use development and township projects, the real estate development arm of the Godrej Group said in a release.

The total land to be developed under this partnership comprises over 300 acres located across west and east Pune.

Starbucks To Add More Outlets

Tata Starbucks is planning to add up to 10 new stores in the next two months, taking the total count to around 145 outlets, said a top company official, according to a report.

Tata Starbucks is a 50:50 joint venture between Tata Global Beverages and Starbucks Coffee of the US. The premium coffee chain is increasing the number of roll outs as it is getting overall good consumer response, said Tata Global Beverages.  

Tata-Starbucks has recently started food delivery through online food aggregator apps like Swiggy.

End Of The Road For Honda Brio

Japanese carmaker Honda has stopped production of its entry-level hatchback Brio in India, says a report

This will cut short the vehicle’s over 7-year long stint in the country.

Honda Cars India, the company’s wholly-owned subsidiary, plans to maximise sales and visibility of its compact sedan Amaze which would now be its entry-level offering in the Indian market.

Passenger Vehicle Sales Surge 34%

Retail sales of passenger vehicles in India rose 34% in January from the previous month, says a report.

It was mainly driven by high discounting by automakers and dealers after a tepid December, a body of vehicle dealers said.

Two-wheeler and commercial vehicle sales, however, continued to remain sluggish, the Federation of Automotive Dealers Association said. There is a spike in inventory at two-wheeler dealerships as the sales remain slow, it said.

Marico In Key Accord With Kaya

Hair and edible oil maker Marico has entered into a licensing arrangement with grooming chain Kaya to launch a new range of skin-care products under the eponymous brand about five years after it was demerged from the maker of Saffola and Parachute, says a report.

As part of the deal, Marico will create and sell a new sub-brand – Kaya Youth, and pay royalty to the skin and wellness chain, a separate listed entity.

Marico said it is part of a wider strategy to reduce its dependence from hair and edible oil and also shift focus to the premium portfolio.

LuLu Group To Invest 1,000 Crore Rupees

Twenty14 Holdings, the hospitality investment arm of Abu Dhabi-based LuLu Group International, plans to invest about 1,000 crore rupees in India over the next two years, according to a report.

This will be used to build hotels in key cities, its managing director Adeeb Ahamed said.

Globally, the company plans to have assets worth $1 billion by 2020 and owns hotels like the one managed by the Steigenberger group in Dubai and the Sheraton Oman Hotel in Muscat.

Shuttl Launches Meals On Buses

India’s largest bus aggregator Shuttl has entered the competitive food delivery space by launching meals on buses for daily commuters, as it looks to further monetise its captive customer base.

After a pilot started in October last year with 50 buses, the Gurugram-based company plans to scale up.

They propose to later this year, provide meals on 1,200 buses, most of which operate in Delhi NCR.

Xiaomi To Unveil Smart Shoes

Xiaomi is all set to expand its verticals in India and launch its much-awaited smart shoes, an official teaser revealed, according to a report.

The company launched the first-generation Mi Smart Sneakers under its Mijia brand in China back in 2017. However, Xiaomi brought the successor to its original smart shoes just last year that arrived as the Mijia Sneakers 2 last year.

It is highly expected that the Chinese giant could bring last year’s model to India in the coming days.

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Babu Kalyanpur

Babu Kalyanpur, ( Consulting Editor) has rich experience in both sports and business journalism. Babu has led news desks in Pune and Bahrain and writes extensively on his passion, sports and business besides current affairs and matters of importance to Pune.

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