Business Roundup # 32

Business this week

 

New Entity Unveiled

Pune-based Sokrati has spun off its SaaS-based product business into a new entity, according to a report.

Investors in the digital marketing agency have retained their stake in the new business. The SaaS-based business will seek to boost sales in the mid-market segment, particularly e-commerce. The firm was acquired recently by London-based Dentsu Aegis Network.

HP Expansion Drive

HP’s PC arm is planning a major push in India after the technology major split into two in a restructure, says a report.

Having increased its stores from 350 to 500 over the last year-and-a-half, the company is targeting to hit 1,000 HP World stores in the country, a top official said. The firm is planning to increase its reach from the current 500 towns to 800 over the next two years, the official added.

Major Ad Spend

An estimated Rs 24,000 crore will be spent on advertising by India Inc during the festive season starting August, an increase of 10 per cent over the same period last year, according to a report.

Businesses are hoping to capitalise on better consumer sentiment due to pent-up energy on both the demand and supply side due to good monsoons. It is hoped that the ad spend would compensate for the hitch caused by demonetisation and introduction of the Goods and Services Tax (GST).

Phone Market Boost

The Indian phone market scenario has taken a new turn with the launch of Intex’s 4G VoLTE feature phone priced at Rs 1,999, with more telecom firms now ready to take on the challenge from Reliance Jio’s new phone, says a report.

The JioPhone, priced at Rs 1,500 with a total payback scheme, will be available in September. The Intex phone will be unveiled later this month. Micromax is also planning a 4G VoLTE feature phone priced at Rs1,999.

Google Play Popular

Indian consumers spending on apps and games on Google Play has tripled over the last year, a report says.

A top official said India has always been among the top three countries for apps installation. Google Play installs in India has grown over 150% year-on-year, hitting the one billion mark.

Digital Push

Herbal products manufacturer Patanjali has launched a major digital push in a bid to tap new customers, according to a report.

The company founded by Baba Ramdev is investing in advertisements in collaboration with Google and Facebook to attract online customers and reap bigger dividends than its print and electronic media campaigns.

H&M Sales Soar

Hennes & Mauritz’s (H&M) sales surged to Rs 460 crore in the six months to May this year, compared with Rs 445 crore in the December 2015-November 2016 period, according to a report.

The improved sales were attributed to the Swedish fashion retailer selling its products at a relatively lower price than its rival Zara.  The 16 H&M stores each generated about Rs 16 lakh per day on average in sales, making the firm among the best in the apparel section of the retail market.

Key Outlet Talks

Aditya Birla fashion and retail is in key talks with American Eagle outfitters to open standalone outlets in India, a report reveals.

The US fashion brand, popular with the youth, has about 1,000 stores all over the world. The Aditya Birla Group is seeking rights to sell the brand both offline and online, sources said.

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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