Business Roundup #Week30

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Benelli Targets Smaller Bike Market

Benelli, which is set to resume sales in India in October, is planning to enter the smaller 135-200 cc bike segment after 2019 to have a wider market presence, says a report.

The Italian premium two-wheeler maker, which has roped in a new partner Mahavir Group for its fresh start in India, will initially focus on 300-600 cc motorcycles through 12 models to be launched by the end of 2019.

Benelli had stopped selling bikes in India in May this year after parting ways with its Pune-based former partner DSK Motowheels, which ran into financial trouble.

Hyundai To Sell Full Range of EVs

Hyundai Motor is planning to launch its full range of electric vehicles (EVs) in India, according to a report.

The South Korean auto major’s move comes as it tries to expand its product offerings to compete with market leader Maruti Suzuki for a bigger share of the Indian market.

Close on the heels of Maruti Suzuki announcing plans to manufacture electric vehicles by 2020, Hyundai has commissioned a study to explore manufacturing of such vehicles in India.

Guess Plans To Set Up Indian Subsidiary

US-lifestyle brand and retailer Guess will set up an Indian unit, Guess India, to relaunch the brand and expand its retail presence by opening company-owned stores, says a report.

This is a departure from its earlier model where stores were operated by franchisees. It will launch 2-3 stores first, followed by another 8-10 stores over the next year or two, an official said.

The initial phase of the expansion will focus on Tier I cities in India. The retailer has shut all the franchisee-run stores in the market.

Gome To Launch Products in India

China’s largest consumer electronics and smartphone retail chain Gome has chosen to kick off its global expansion by launching its own branded products in the Indian market, according to a report.

It will be sold through multi-brand stores and online marketplace. The $11-billion company is going to launch its own branded smartphones, televisions and appliances which will be aggressively priced to challenge Xiaomi, Samsung, TCL and Oppo, industry sources said.

Gome Electronics India is a fully-owned subsidiary of Gome Telecom Equipment, part of the Hong Kong-listed Gome Retail Holdings, which has over 1,700 stores in China.

Ad Spend May Surge 10%

India Inc may spend Rs 25,000 crore on advertising, marketing and promotions during the festive season this year, according to a report.

That will be 10% more than what they spent at the same time in 2017, top media planners in the country said. “I expect this year the festive season should be good and we should see a healthy double-digit growth during the festive season.

I expect an overall growth of around 10-12%,” said Ashish Bhasin, CEO -South Asia, Dentsu Aegis Network.

Smartphone Users Switch Brands

More than 70% of smartphone users in India switched brands in the second quarter of this year, says a report.

Chinese smartphone maker Xiaomi benefited the most, selling nearly 37% of the phones that were replaced, according a CyberMedia Research (CMR) report.

Xiaomi was followed by Vivo 17.8%, Oppo 16.3%, itel 6.7 % and Huawei’s Honor 4.5%, according to the first edition of the CMR “India Smartphone Movement” report.

MAN Slams Brakes On Indian Market

MAN Trucks India, the fully owned subsidiary of the Volkswagen Group-owned company, has pulled the plug off the growing Indian market, says a report.

This is part of its worldwide plans of focusing on the premium end of the market.

The company has put its Pithampur plant on the block for sale and the employees at the plant will continue to work till the order book is executed by October.

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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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