Future Retail had been subleasing store space from the tycoon’s Reliance Industries Ltd. Indeed, it was kept operating only on Ambani’s forbearance because Future couldn’t come up with the rent. But with Amazon.com continuing to block Reliance’s $3.4 billion purchase of Future’s assets, Ambani decided to make the acquisition a fait accompli: He terminated the leases and is taking … Read more
Pratik Pota has resigned as the CEO of Jubilant Foodworks. Key points to note – Pota had joined Jubilant in March 2017 from Pepsico. Pota is widely regarded as the man behind Jubilant’s turnaround. The Company was facing significant headwinds and was struggling operationally before he had joined. Since his joining, the Company has witnessed … Read more
Colgate Palmolive India (CPI) has informed the following top management changes – The current CEO and MD, Mr. Ram Raghavan has been promoted as President, Enterprise Oral Care, for Colgate Palmolive Company, the parent Company of CPI and will be based out of its headquarter at New York. In place of Ram, CPI has hired … Read more
Emami is buying 19% stake into TruNativ. Key points to note – TruNativ, founded in March 2019 is focused on healthy food and nutrition products. Emami has not disclosed the amount invested for the 19% stake. Consideration has been paid in cash to subscribe fresh equity of TruNativ. In FY21, TruNativ reported revenues of Rs … Read more
Coca-Cola on Thursday unveiled a new innovation platform for limited-edition products, which is a perfect combination of marketing, creative, design and tech. Known as a “new brand expression”, Coca-Cola Creations plans to introduce in the market a series of limited-edition flavors, collaborations and experiences covering both the “physical and digital worlds”. As part of the … Read more
GlaxoSmithKline Plc said it rejected an offer from Unilever Plc for the drugmaker’s consumer healthcare unit last year that valued the business at about 50 billion pounds ($68 billion). Glaxo in a statement Saturday said that it had received three unsolicited offers from Unilever for its consumer healthcare business, the final one on Dec. 20 … Read more