The announcement was widely expected. Earlier in September 2021, Company had already informed that it’s exploring such possibility. Besides the Company is also into consolidation mode and had recently decided to sell the non core HDFC Life. On the subject, Company has announced – “We have now planned to setup a multi-gigawatt lithium-ion cell manufacturing … Read more
“Beauty products will be a key focus for us from now on along with footwear and underwear”, Noel Tata, non-executive chairman of Trent said in an interview. Key points to note – Simone Tata, Noel Tata’s mother, had helped create Lakme in 1953 as the country’s first cosmetics brand. It was sold to Unilever’s Indian … Read more
TVS Motor and BMW Motorrad have announced the expansion of their cooperation agreement for future technologies and electric vehicles. Key points to note – In simple terms, for now it means they will co develop the electric vehicles (EVs). The 1st product through this new announcement is targeted to be ‘showcased’ in the next 24 … Read more
Originally founded by Henkel in the 1970s, Creme 21 was acquired by a German businesswoman Antje J Willems Stickel in 2003, and then by Emami in January 2019. Key points to note – Emami had acquired Creme 21 for about Rs 100 crore. This is peanuts compared with what newer beauty brands are getting valued … Read more
Lupin announced the formal launch of it’s diagnostics business as part of it’s strategy to provide integrated healthcare in India. Key points to note – The business is housed under a wholly owned subsidiary, Lupin Diagnostics. The company launched operations with 11 labs including a 45,000 square feet national reference lab in Navi Mumbai and … Read more
Aditya Birla Fashion & Retail Limited (ABFRL) has signed a long term licensing agreement with Authentic Brands Group (ABG), which grants ABFRL exclusive rights to distribute and sell Reebok products through wholesale, e-commerce and Reebok branded retail stores in India and other ASEAN countries. Key points to note – ABFRL has an existing relationship with … Read more
PB Fintech’s board has approved to set-up a wholly owned subsidiary to carry on the business of an Account Aggregator (AA). Key points to note – Account Aggregator Network – a financial data sharing system was recently introduced in India in September 2021. An Account Aggregator (AA) is a type of RBI regulated entity (with … Read more
The Company has updated on the following – JV with FRIWO Group to expand component offerings to the electric vehicles Technology Licence Agreement with Dhama Innovations for Temperature Controlled Automotive Seats (TCAS) Expansion of alloy capacities both for 4 wheelers and 2 wheelers All the above expansions definitely seem to be in the emerging areas … Read more
Zomato recently had invested $75 mn into Shiprocket as a part of it’s start-up investing strategy. T V Mohandad Pai (ex Infosys CFO) in a tweet raised concern that whether there is a conflict of interest in this investment by Zomato as Deependier Goyal (Founder CEO) had previously invested into Shiprocket in his personal capacity. … Read more