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Emami launches German skincare brand Creme 21 in India
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 enters into the diagnostics business
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
RBI brings NBFCs on par with banks in new PCA framework
To further strengthen the supervision on non-banking entities (NBFCs), the Reserve Bank on Tuesday issued revised guidelines on a Prompt Corrective Action (PCA) framework for such companies, excluding government-owned ones, effective from October 1, 2022, on the lines of what it had introduced for banks in 2002. The RBI came up with stricter supervisory norms … Read more
ABFRL to take on Reebok’s Indian operations
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 to set up an Account Aggregator subsidiary
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