Business Roundup # Week 48

Business this week
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Digital Ad Spend To Rise

India’s digital advertising spend is set to increase to Rs 13,000 crore rupees by the end of next year, says a report quoting a survey.

According to the survey conducted by Assocham and KPMG, the 35 per cent growth rate will  be spurred by soaring demand for smartphones and falling data tariffs. The digital advert spend currently is at Rs 9,800 crore rupees.

Firm Launches Soups

Marico has launched Saffola soups, entering a 450-crore-rupee segment dominated by Hindustan Lever and Nestle, says a report.

The company said that it also plans to offer healthy snacks as it targets a 70% per cent increase in its revenue by 2020. For this purpose, Marico has set up a business team to explore new healthy and premium products.

Apple Cuts Margins

Large chains and small retailers are upset after Apple cut its retailer margins on the iPhone X by nearly 30%, according to a report.

The retailers say that the US company does not want them to benefit from the sale of the phone and that it wants to profit from the massive margins it makes. Despite high demand, some companies have stopped taking orders for the phone.

Lexus Banks On Hybrids

Japanese-based Toyota Motor’s luxury brand Lexus is banking on its hybrid models to gain acceptance for high-end vehicles in the Indian market, reveals a report.

Lexus will offer vehicles with 40% lower carbon emissions in India. With these green cars, Lexus is planning to compete with German firms who dominate the segment.

Young Cricketer Signed Up

Mumbai’s 18-year-old batting sensation Prithvi Shaw has been signed up by a sports marketing firm, says a report.

The multi-year deal will see Baseline Ventures handle all of Shaw’s commercial interest. Shaw has been touted as the next Sachin Tendulkar of Indian cricket.

Theme Park Hotel Bought

Supermarket chain D-Mart founder Radhakrishnan Damani has completed the acquisition of a five-star hotel from Adlabs Entertainment, according to a report.

The Novotel Imagica Khopoli is located at a theme park in Khopoli on the Mumbai-Pune Expressway. The acquisition was completed by Damani unit Bright Star Investments.

Leica Opens Store

Camera maker Leica has opened its first partner store in Delhi as part of a major push in India, reveals a report.

The German firm is seeking to tap metro cities as a first step towards opening destination centres for selling its range of cameras.  The company has not specified the number of stores it is planning to open.

Inverter Sale Boost

Consumer firm  V-Guard Industries is eyeing more than 300- crore-rupee revenue from its inverter division by March next year, says a report.

This comes as the electrical and electronics maker has launched its smart series inverters that enable users to access its various functions from a mobile phone or device.

Coke Shows Fizz

Coca-Cola eat its rival PepsiCo and posted double digit growth despite health conscious consumers cut down on sugary aerated drinks, according to a report.

Hindustan Coca-Cola Beverages, which accounts for two-thirds of Coca-Cola’s revenue, registered 11% growth in revenue during the year to March 2017. PepsiCo India Holdings, on the other hand, posted a 0.2% growth in revenue, according to the latest filing with the Registrar of Companies.

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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