Amazon India To Open More Fulfilment Centres
Amazon India has invested in six more specialised fulfilment centres (FCs) in Pune, Coimbatore, Lucknow, Gurugram, Mumbai and Bhopal, according to a report.
Besides that, 25 additional delivery stations will be added exclusively for the fulfilment of large appliances and furniture. With this move, Amazon India will have a specialised network of 15 FCs spread over 1.3 million square feet with five million cubic feet of storage space and 60 delivery stations exclusively to cater to customer needs in over 400 cities.
Honda Closing In On Bajaj For Second Spot
Honda Motorcyle & Scooter India (HMSI) is closing in on Bajaj Auto for second spot in the domestic motorcycle segment, says a report.
The gap between the two companies is now reduced to a meagre 14,200 units during the ongoing fiscal compared with the 3,98,525 units in the April-February period last fiscal. According to data released by Society of Indian Automobile Manufactures (SIAM), Bajaj Auto has so far sold 18,15,590 units in the April-February period of the current fiscal while HMSI has sold 18,01,390 units in the same period.
TV Makers May Revive ‘Make In India’ Plan
Television makers are reviving their ‘Make in India’ plans after the government halved the customs duty on open cell panels, reveals a report.
Open cell panels account for two-thirds the cost of assembling LED sets. LG, Samsung, Panasonic, BPL, TCL and Sanyo will benefit from the move. After a 10% duty was imposed on open cell panels in the budget, leading companies and contract manufacturers shelved plans to assemble TVs locally.
Equity Firms Eye Pepe Jeans India Stake
Private equity and sovereign funds are in the race to buy a controlling stake in the Indian arm of Pepe Jeans, according to a report.
Five global funds including KKR, Carlyle, General Atlantic and Malaysia’s Khazanah have submitted offers for the company. They are now conducting due diligence. The parent company of Pepe Jeans India is seeking a valuation of 2,000 crore rupees for the Indian business.
BYD Entry Worries Indian Majors
The entry of Chinese giant BYD in the e-vehicle sector in India is worrying India’s top automobile majors, says a report.
The e-vehicles company has bagged large tenders for electric buses but the Union government is weighing their concerns against the benefits of competition, which has led to a sharp fall in prices. However, Indian industry executives say the decision to allow a company the size of BYD to participate in the recent tenders goes against the government’s ‘Make in India’ mission and will create jobs in China instead of in India.
Nissan To Raise Prices By 2%
Nissan India will increase the prices of its entire model line-up in India by 2 per cent starting next month, says a report.
The Japanese carmaker clarified that the price hike was due to the rising input costs. Nissan’s budget car Datsun will also face similar price changes. Meanwhile, Tata Motors said that the prices of its entire model line-up will go up by 60,000 rupees.
KFC Planning To Set Up Stealth Kitchens
KFC plans to set up stealth kitchens in India, probably a first for the domestic quick service industry, according to a report.
The move is to tap the rapidly growing online food delivery model used by aggregators such as Swiggy and Zomato. The standalone full-service KFC kitchens won’t have any customer interface, will not double up as dine-on or take-away stores, and will have minimal branding, a top official said.
Zivame To Adopt New Strategy
Lingerie retailer Zivame is betting on an omni-channel strategy to spur its turnaround and recover lost ground, says a report.
The company has set up 26 brand stores over the last 12-18 months. Zivame is now set to take that count to 100 stores by the end of fiscal year 2019 and has set aside an investment of 30-40 crore rupees for the same.