Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries (RIL) has announced raising Rs 8,278 cr from Qatar Investment Authority (QIA). Investment is raised at a pre-money equity valuation of Rs 8.278 lakh crore QIA will get 0.99% stake in RRVL on a fully diluted basis This fund raise effectively doubles RRVL’s valuation in … Read more
Reliance is unstoppable for now. It’s launching/ acquiring/ partnering businesses across segments and industries. As part of it’s retail expansion strategy, the subsidiary Reliance Retail Ventures Limited (RRVL) has now entered into the beauty segment. Launched with an Omnichannel strategy combining both the online and offline route Tira website and app for ecommerce 1st physical … Read more
Few months back, Nykaa’s CFO had resigned. Now 5 more senior executives of the Company have resigned. Chief Commercial Operations Officer, Manoj Gandhi Chief Business Officer of fashion division, Gopal Asthana Chief Executive Officer of wholesale business, Vikas Gupta Vice President of Nykaa fashion division’s Owned Brands business, Shuchi Pandya Vice President of Finance at … Read more
Rohit Jawa will take over as MD & CEO w.e.f, 27th June, 2023 upto 26th June, 2028, i.e., for 5 years. He will also takeover as President, Unilever South Asia. He is taking both positions from the well respected veteran Sanjiv Mehta Sanjiv served at the position for 10 years, which one can consider to … Read more
In a surprise announcement, Nykaa announced the resignation of it’s CFO Mr Arvind Agarwal. Arvind had joined Nykaa in July 2020. Reason for his resignation – “to pursue other opportunities in the digital economy & start-up space” Who is replacing him – no one has been announced yet. It seems that his resignation has come … Read more
India’s biggest retailer Reliance will acquire dozens of small grocery and non-food brands as it targets building its own $6.5 billion consumer goods business to challenge foreign giants like Unilever, two sources familiar with the plan told Reuters. Reliance, run by Indian billionaire Mukesh Ambani, plans to build a portfolio of 50 to 60 grocery, … Read more
The Enforcement Directorate has attached assets worth ₹757.77 crore of Amway India Enterprises Private Limited, which has been accused of running a multi–level marketing scam. The attached properties include a land parcel and factory building of Amway in Tamil Nadu’s Dindigul district, plant and machineries, vehicles, bank accounts and fixed deposits. The 36 bank accounts … Read more
The company has acquired the prickly heat talc brand from Reckitt. Key points to note – Consideration is Rs 432 crore to be funded entirely from the internal accruals. Emami had cash equivalents of Rs 406 crore as on September 30, 2021 and generated operating cash of Rs 922 crore in FY 21. Funding of … Read more