Godrej Plans Pune Plant
India’s second largest home appliances maker Godrej is commissioning a 200-crore Rupee plant in Pune, as part of its plan to introduce premium products, says a report.
Earlier, this space was dominated by LG and Samsung. Godrej will tap this market to double revenue and be among the top three by 2020. The company will offer premium products like kitchen appliances, large capacity refrigerators, front loading washing machines, and air-conditioners among others, it said.
Pizza Hut Push
Pizza Hut is planning a major push in India after identifying it as a big market for its future growth, says a report.
After opening its 9,000th outlet outside the US in Mumbai, a company official said that the company plans to double its stores to more than 700 over the next five years in India. Yum Brands, the parent firm of Pizza Hut, has over 350 Pizza Hut outlets in 100 cities India which are operated by Devyani International and Sapphire Foods India.
Bitter Days For Chocolate Makers
Chocolate and confectionary makers faced a major setback in the last fiscal, posting near-decade low results, according to a report.
This was attributed to the health conscious customers cutting back on these products in a slowing economy. Mondelez, India’s largest chocolate maker and Nestlé’s chocolate division, registered a six percent rise in sales ending March 2017, down from the double-digit growth in the last decade. Ferrero Rocher posted its worst revenue growth at 2.6% and Perfetti sales grew less than 1%.
India’s 4G VoLTE user base will post a compound annual growth rate of 42.5% over the next six years, says a report.
Swedish telecom gear maker Ericcson said in its mobility report that 4G LTE will account for more than 60% of the total subscriptions in India by 2023 compared with 12% in 2017.
15 Firms In Race For Centre
At least 15 global firms are in the race for constructing India’s largest convention centre in Dwarka, Delhi, a report reveals.
The bids have been invited Engineering, Procurement and Construction (EPC) mode. The EPC contract will be finalised by the end of December and will involve the development of trunk infrastructure along with the exhibition and convention centre, internal road system and underground parking facilities.
Samsung Gains In Wearables
Samsung has gained a 50% share in the premium smart wearables market, the Korean giant said, according to a report.
The company attributes this to strong sales to the festive season and is optimistic over improving on these figures on the back of new launches.
Amazon Growth Soars
Amazon has posted strong results In India in financial year 2017, registering a growth of over 105% in revenue, says a report.
Amazon Seller Services posted a 41% rise in revenue in FY17, according to a filing before the Registrar of Companies. The unit earns through commissions, advertisements and shipping fees.
Fashion Firms Trim Stores
Several global fashion brands and cutting down the sizes of their stores by half or more, according to a report.
This comes as pressure is being built by rising retail space rentals and mall operators. Gap has been forced to prune its space from an initial 11,000 sq ft to around 4,500 sq ft-5,500 sq ft. Mango, which was planning to open 9,000 sq ft stores is now mulling 2,000-2,500 sq ft outlets.
Newspapers Still Popular
Newspapers are still popular when it comes to advertising, a report reveals.
Newspapers will remain dominant in the media segment for another three years at least, says a report from Zenith, the ROI agency of the Publicis Group. Newspapers will still have 28,670 crore rupees or 38.9% of advertising expenditure, the report forecasts.