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IKEA Opens Distribution Unit
IKEA has opened a 100-crore-rupee distribution centre in Pune, says a report.
The Swedish home furnishing firm is also planning to buy land in Maharashtra to build more facilities, eyeing an investment of 750 crore rupees. The Pune centre is spread over a 2.3 lakh sq ft area and will be expanded to 3.7 lakh sq ft by next year.
Vodafone-Idea Eye New Identity
The merger between Vodafone India and Idea Cellular will give rise to a new name and brand identity, according to a report.
Both companies have already started working on it. This will come into effect a month after the transaction is completed. Both are working on a new positioning to win customers.
Ice-Creams To Get Expensive
The ice-cream prices may go up by at least five per cent this summer, according to a report.
The manufacturers like Vadilal and Creambell are planning to hike their prices as costs of dry fruits, overheads and fuel have risen. Despite the price rise, the industry is expected to post a 15-20 per cent sales growth.
Cosmetics Market Boost
India’s cosmetics and cosmeceutical market may post an annual growth of at least 25% and is likely to touch $25 billion by 2025, according to a report.
The increased awareness of beauty products, increased premium on personal grooming, more spending power of women among others has boosted the market.
Cheap Phones On Way
India’s top three mobile operators are working with handset companies to offer 4G smartphones which will be cheaper than even feature phones, says a report.
Bharti Airtel, Vodafone India and Idea Cellular may offer smartphones as cheap as 500 rupees with bundled voice and data plans at 60-70 rupees per month. It is aimed at countering the latest 49 rupees plan offered by Reliance Jio which may take away their customers.
Duracell Plans Powerbanks
Duracell is planning to make powerbanks among other new products to expand its portfolio in India, a report says.
A company official said India is top priority for the country as it holds a great potential for growth for the company.
Petrol, Diesel Demand To Surge
Fuel demand is set to rise threefold by 2040, a panel said, according to a report.
Diesel demand may increase threefold and petrol three-and-a-half times. This could allay fears among industry executives that drive for renewables and electric cars may hit fuel demand.
Operator Seeks Europe Permission
IndiGo operator Interglobe Aviation has sought permission from the aviation ministry to fly to European cities from October, say a report.
This move is an alternative to the airline’s plan of acquiring Air India. Interglobe is seeking to fly to Paris, Frankfurt, Gatwick, Manchester and Birmingham in the UK in October and Brussels, Rome, Milan and Zurich next year.
Reliance Clinches Mothercare Rights
Reliance Brands has won the rights to operate the stores of UK-based children products firm Mothercare, reveals a report.
The company was in fray with FirstCry.com to acquire the rights. The deal will give Reliance control over all Mothercare stores run by DLF Brands.
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