In retail, food and grocery chain Nature’s Basket chief executive officer Avani Davda has put in her papers, thereby moving out months after the business was acquired by Spencer’s Retail from the Godrej Group. Davda said the exit is due to personal reason.
Industry watchers attribute it to their weakening brand pull among younger customers and premium pricing vis a vis Chinese rivals such as Xiaomi and TCL, particularly at a time when Indian consumers are cutting down on consumer spending. The Korean duo of LG and Samsung have so far resisted the Chinese onslaught by dropping prices.
As per Panasonic India’s latest regulatory filings with the Registrar of Companies (RoC) accessed through business intelligence platform Veratech Intelligence, revenue from operation dropped 10.6% year on year in 2018-19 at Rs 4,758.62 crore, while its net loss more than tripled at Rs 459.58 crore against Rs 131.88 crore in FY18.
Industry executives said these companies such as Samsung, Xiaomi, Oppo, Vivo, Realme, Motorola and Haier now control the largest chunk of the Indian market in certain categories such as smartphones, televisions and home appliances.
As per Xiaomi Technology India’s latest regulatory filings with the Registrar of Companies (RoC), the company’s total revenue in 2018-19 grew by 54% to Rs 35,426.92 crore as compared to Rs 23,061.11 crore it had clocked in FY18.
As per latest regulatory filings made to RoC, the South Korean technology giant’s India revenue grew by 19.7% in FY19 at Rs 73,085.9 crore as compared to Rs 61,065.6 crore it had clocked in FY18. In the flagship mobile phone business, Samsung India revenue increased by 15.4% at Rs 43,087.9 crore in FY19 as compared to Rs 37,349.7 crore in FY18.
Data for September just showed a sharp recovery, even as economy is likely to have slipped further.
The CCI has given nod to Amazon.com's proposal to acquire about 49 per cent share in Future Coupons.
The numbers bear witness. Over the past decade, India’s jeans market trebled to Rs 21,993 crore, according to Euromonitor. And last calendar year's growth at 14% is the highest since 2009. Denim has been growing by 9-11% over the years and global brands such as Zara, H&M, Jack & Jones and Gap helped grow the market over the past decade.
Tata Group infused Rs 231 crore into Tata CLiQ in FY20 despite an 18% rise in etailer’s loss in FY19. Tata Unistore net losses jumped to Rs 246.75 crore in 2018-19, while it more than doubled total income to Rs 110.75 crore.
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