Sector: Consumers
Crunch time for craft beer as pandemic, fees take their toll
Makers of Witlinger, Mad King and White Owl craft beers have either shut shop or started new ventures, while owners of Kati Patang, White Rhino and Beor 360 have scaled back their operations. Kati Patang beer, a runaway hit with its unique small-batch flavours like saffron, turmeric and lemon rind, has shrunk considerably in the … Read more
VSS buying sizeable chunk from Antfin. Don’t jump.
Paytm has informed that it’s Founder MD & CEO, Vijay Shekhar Sharma (VSS) is acquiring 10.30% stake from Antfin. Stake is being acquired through a 100% foreign entity owned by VSS – Resilient Asset Management B.V. In lieu of the acquisition, Resilient is issuing Optionally Convertible Debentures (OCDs) to Antfin Post transaction – VSS’s shareholding … Read more
Barbie Doll Sales Are Booming Online, Shopify Says
“Barbie” the movie is on track to top $1 billion in box-office sales. The “Barbie effect” is also boosting Mattel’s direct-to-consumer sales of dolls, per Shopify. Shoppers are “voting with their wallets” for their favorite brands, even as they cut spending elsewhere, one exec said. The “Barbie effect” is in full swing. Two weeks after … Read more
India government restricts import of laptop, computers, tablets
On Thursday, the Indian government issued a notice imposing immediate restrictions on the import of laptops, tablets, and personal computers. “Their import would be allowed against a valid licence for restricted imports,” said the notice issued by the Ministry of Commerce and Industry, Department of Commerce, Government of India. As per the notice issued by … Read more
Sheela Foam announces two strategic investments
1. 94.66% acquisition of established competitor mattress company ‘Kurlon‘ Cash consideration of Rs 2,035 cr implying a valuation of Rs 2,150 cr Transaction to be completed by November 30, 2023 Kurlon’s revenues: FY 2019-20: Rs 995.56 cr FY 2020-21: Rs 767.25 cr FY 2021-22: Rs 808.80 cr FY 2022-23: awaited EBITDA margins have declined from … Read more