Business Roundup #Week14

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Gap Unveils India-Specific Products

Gap has launched new products which are tailored for customers in India, says a report.

The American casual fashion brand’s ‘Made for India’ products is customised for the Indian shoppers in terms of fitting, colour and design. The brand, famous for its family stores, is also rolling out two new smaller-size formats in the country — one dedicated to adult fashion and another for kids.

WNS In Pune Commercial Space Deal

WNS has picked up nearly 2.70 lakh sq ft commercial space at Hinjawadi in Pune on lease, reveals a report.

The global business process management company’s total tenure of this lease is five years with rentals set at 58.50 rupees per sq ft a month. The total rental payout works out to nearly 19 crore rupees per annum. The deal assumes significance in the backdrop of talks of slower business momentum for software exports amid US protectionist noise.

Employees May Get Salary Hike This Year

Employees may get an average salary hike of nine to 12 per cent this year, according to a report.

Top talent may get as much as 15% raise this year. This comes on the back of improving hiring pace which is pressing organisations to retain their key performers, says HR experts. Companies are increasingly making sharp differentiation between high and average performers and are adopting measures like variable pay, increments and career opportunities to differentiate between them, they said.

Ginger Hotels Eyeing Major Revamp

Budget hotel chain Ginger Hotels is planning a major revamp to in a bid to gain a greater share of the mid-market segment, says a report.

Brand strategy, brand design and digital firm DY Works is working on repositioning of the brand in the market. Part of the Indian Hotels Company, Ginger will mostly look at leasing opportunities in the metros going forward, will not invest in new assets, and will sell some of its existing until its balance sheet is not capitalised.

Mobile Apps A Big Draw In India

India has become the world’s fastest growing market for mobile applications with a sharp surge in revenue in the first quarter of 2018, according to a report.

This includes both on the Apple ioS and Google’s Android Playstore. The country also leads in the most number of mobile app downloads across both platforms, according to app market data and insights company App Annie. The thirst for content amongst Indian mobile phone users is fuelling rapid growth, with video streaming apps proving to be the most popular downloads.

Jacqueline Launches Own Fashion Brand

Mojostar has recently joined forces with leading Bollywood superstar Jacqueline Fernandez to launch Just F, a female-only fitness and fashion brand, says a report.

The launch of Just F marks the second co-created brand launched by Mojostar. It also marks the launch of first fashion brand created by Jacqueline, who is already a top style, fashion, and fitness icon in India.

Telecom Industry Staff Face Setback

The telecom industry may see 30-40% of employees go without a raise on the back of a turbulent year for the companies in this sector, says a report.

This would be compounded by a sharp drop in bonus payouts – even up to 50% – as operators and tower firms under severe revenue and margin pressure cut costs and the mass layoffs in the industry leave little bargaining power in the hands two lakh still employed in the sector.

HMSI Planning Key Investment

Honda Motorcycle and Scooter India (HMSI) is mulling a 800 crore rupees investment in the ongoing financial year for expanding operations in the country, reveals a report.

The company is targeting double digit growth in 2018-19 as well. The company had posted a growth of 22 per cent in 2017-18. The investment would mainly go into improving the efficiency at manufacturing plants, getting new tools and equipment for BS VI upgradation and new product launches.

XiaomI To Set Up Three Units

Xiaomi is setting up of three new smartphone manufacturing units in Tamil Nadu and Andhra Pradesh, according to a report.

The Chinese handset maker will also start a new printed circuit board (PCB) assembly unit in Sriperumbudur in partnership with Foxconn. The company did not reveal the investment numbers for setting up the manufacturing facilities.


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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