Business Roundup #Week29

Business
Image used for representation only

Dunkin Donuts Downsizing In India

Dunkin Donuts has closed more than 50 per cent its stores in India over the last two years and is now focusing on small stores and kiosks to cut losses, says a report.

Jubilant FoodWorks Ltd, the listed franchisee partner of the American doughnut and coffeehouse chain in India, confirmed the downsizing and said the company has already halved losses on the chain in the June quarter and is looking “to break even as we exit this year”.

The company, which opened the country’s first Dunkin Donuts store in May 2012, has brought down store count by more than half to 37 as of June end from 77 stores two years earlier.

Airport Project Capacity To Be Increased

Mumbai International Airport, the GVK-led consortium building the Navi Mumbai International Airport (NMIA), is boosting the project further, according to a report.

It plans to double its initial yearly passenger handling capacity to 20 million and increasing the final capacity by 50% to 90 million, sources said.

The initial plan in the first phase is for 10 million and another 10 million in the next, but based upon the projected demand the company may complete the phases together, said a spokesperson for GVK, confirming the move.

Amazon Ordered To Delist Some Sellers

The Delhi High Court has ordered Amazon Seller Services to delist some sellers on its platform, says a report.

This comes after Beverly Hills Polo Club said they were selling fake products of the US brand on the e-commerce site.

Beverly Hills Polo dragged Amazon to court last month, claiming that some of its sellers were indulging in “widespread sale of counterfeit products” including apparels, accessories and fragrances.

Vivo Makes Strong Comeback

Vivo has made a strong return in the quarter ended June after suffering a decline in its smartphone market share in the previous quarter, according to a report.

The Chinese handset maker attributed its improved performance in India to its broader new strategy to become an all-segment player. “Previously, we were focusing on Rs 10,000-25,000 (segment), but in the last six months we have gone beyond this category,” said a top official.

BBK Electronic-owned Vivo cornered 12% market share in the April-June quarter of 2018, more than doubling its share from 5.8% in the previous quarter, according to data from Counterpoint Research.

Huawei Aiming High In Premium Market

Chinese smartphone maker Huawei is aiming to be the highest selling premium smartphone seller in India currently ruled by Samsung, OnePlus and Apple, says a report.

The company has re-entered the segment recently with its Huawei branded P20 and P20 Pro phones, a top official said.

The company is making a concerted push into the high-end segment through its “Huawei branded” smartphones, while its sub-brand, Honor, continues to compete with Xiaomi and Oppo in the sub-Rs 20K category.

Jet Asks Staff To Take Pay Cut

Jet Airways has informed its employees that they will have to take an up to 25% cut in their salaries as cost of operations for airlines is increasing on the back of rising crude and a falling rupee, says a report.

Salary cuts are in the range of 5% (for those earning Rs 12 lakh annually) to 25% (for those earning Rs 1 crore and above) starting this month.

The top management of the airline has held meetings with employees informing them about the pay cut, and meetings with employees are set to continue on the issue. Confirming the move, the airline said the senior management has already taken a pay cut.

Claire’s Stores to Be Shut

DLF Brands is shutting down the India store network of US women’s accessories brand Claire’s amid trouble at the American brand that filed for bankruptcy in May this year, according to a report.

“The company has filed for Chapter 11 in the US and that is the reason we are closing the stores,” said Timmy Sarna, chief executive of DLF Brands.

“We are currently liquidating the stock.” Claire’s outlets in India are currently running a flat 75% off “closing down sale.” Two store staff said the brand is shutting stores as the India operations have been impacted by Claire’s bankruptcy in the US.

~~

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.

Latest posts by Babu Kalyanpur (see all)

Comments

comments