Business Roundup #Week09

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Piaggio Plans to Extend Sales Network

Italian two-wheeler maker Piaggio is looking to boost its sales network in India to more than 350 dealerships by the end of this year, says a report.

This is part of the company’s plan to scale up its business in the country, a top company official said. The company, which currently has around 250 sales outlets will, however, stick to its premium lineage even as it seeks to grow its volume in the world’s largest two-wheeler market as it does not want to be perceived as mass segment player.

There is huge area in India where the company is not present in terms of sales network, the official said, adding that it has only been 6 years since the company re-entered the country.

Tata Starbucks To Use Recyclable Packaging

Tata Starbucks is all set to fully transition itself to use only compostable and recyclable packaging solutions across its stores in the country from next June, says a report.

The equal joint venture between the Tatas and global coffee chain Starbucks said it hopes to achieve the objective by the next World Environment Day, June 5.

The company since its entry in October 2012 operates 138 stores across Mumbai, Delhi-NCR, Hyderabad, Chennai, Bengaluru, Chandigarh, Pune and Kolkata.

Panasonic Seeking 15% Growth In ACs

Consumer electronics major Panasonic India is eyeing 15 per cent growth in air conditioners sales to 1,400 crore rupees in the next fiscal, says a report.

This will be driven by new premium products, a company official said. The company is expected to close the current fiscal with an AC turnover of 1,220 crore rupees.

It is also looking at over 30 per cent increase in distribution outlets for air conditioners (AC) to 12,000 in two-years’ time as against 9,000 in the current financial year.

Maharashtra To Relocate Refinery Project

The multi-crore Nanar Refinery project which was proposed to be set up in Ratnagiri, with participation from Saudi Arabia and UAE, has not been scrapped but will be relocated elsewhere, says a report, quoting Maharashtra government officials.

They claimed that only the land acquisition notification on Ratnagiri would be withdrawn and the government has already started looking out for alternative land for the refinery project.

“We are looking at Sindhudurg and areas near Thane district. There are other sites as well. We hope to finalise it by next month,” a state government official said.

Zomato Eyeing Subscription Boost

Zomato is optimistic that its subscription-based programme Zomato Gold will bring in $20-25 million in revenue by the end of 2019, says a report.

This highlights the growing importance of the premium product to the online delivery and restaurant discovery and bookings platform’s topline.

Additionally, Zomato Gold, which was launched in 2016 in Portugal and in the UAE, before being formally launched in India in November 2017, has now crossed the milestone of having 800,000 paying subscribers in its home market, according to a Zomato official.

L’Oréal Tops in Hair Colour Products

L’Oréal SA has emerged as the largest hair colour marketer in urban India in value ahead of Godrej Consumer Products, says a report.

It climbed the ranking on mass brand Garnier Black Naturals, which is now the French personal care firm’s highest selling hair colour brand globally.

L’Oreal had 25.8% market share in the urban hair colour market in value terms last calendar year against Godrej’s 24%, industry officials said, quoting data from market tracker Nielsen.

Parmigiani Fleurier Enters India

Premium Swiss watch manufacturer Parmigiani Fleurier has forayed into the Indian market exclusively with Ethos Watch Boutiques, says a report.

The timepieces from the brand are priced over 7 lakh rupees.

They will be available in all major metros through the network of Ethos Watch Boutiques within the next two years, Parmigiani Fleurier said.

Benelli Set To Invest In India Operations

Italian motorcycle brand Benelli plans to invest at least 200 crore rupees in its India operations over the next two years as part of a strategy to enter the country’s mass and electric two-wheeler segments, a top executive said, according to a report.

Benelli, a fully-owned subsidiary of China’s Qjian Jiang Group, has a marketing tie-up with Hyderabad’s Mahavir Group.

It sells five models in the 300cc to 600cc range, which are imported as knocked-down kits and assembled at a facility near Hyderabad.

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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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