Hindustan Coca-Cola Beverages (HCCB), the bottling arm of Coca-Cola, has revived plans of selling its business as a robust post-pandemic recovery boosts valuation again, executives directly aware of the development said. The operations could be either split among independent Indian bottlers or could go to a single Indian or an overseas company. The transaction involving asset sale […]
Whirlpool of India on Friday said its Managing Director Vishal Bhola has resigned from the post. The company has appointed Narasimhan Eswar as Managing Director (MD) and Additional Director.Eswar joins Whirlpool of India from Ki Mobility Solutions, where he is currently holding the position of CEO and President, according to a regulatory filing.At its meeting held on Friday, the company’s board accepted the […]
Retail inflation moderated to a one-year low in December led by food prices, while industrial output growth rebounded to a 5-month high in November due to a base effect and robust expansion across sectors including manufacturing. Data released by the National Statistical Office (NSO) on Thursday showed inflation, as measured by the consumer price index, rose an annual 5. 7% in […]
Samsung India Electronics, on Thursday, said it is reviewing the show cause notice issued by the Directorate of Revenue Intelligence (DRI) for customs duty evasion. The agency has asked the company why it should not recover Rs 1728.47 crore as duty along with interest from the South Korean company after a case was registered against […]
Central Consumer Protection Authority (CCPA) on Thursday issued notices to Amazon, Flipkart and Snapdeal for alleged sale of toys without BIS quality mark, reported PTI. On Wednesday, the government had announced seizing 18,600 toys in the last one month from major retail stores, including those of Hamleys and Archies at airports and malls across the country, for lack of BIS quality mark. Since January 1, 2021, the government made […]
LVMH Chairman and CEO Bernard Arnault has reshuffled top management at his luxury goods empire, tightening his family’s grip with the appointment of his daughter Delphine to lead Christian Dior, and naming a new boss for Louis Vuitton. Pietro Beccari, who has been the head of Dior since 2018, is moving to replace long-time Louis Vuitton […]
British luxury carmaker Rolls-Royce Motor Cars have recorded its highest-ever annual sales results in the marque’s 117-year history as the company has managed to deliver 5,586 cars around the globe in 2021. This is the highest volume recorded by the firm since it was founded as Rolls-Royce Limited in 1906. Torsten Müller-Ötvös, Chief Executive Officer, […]
Flipkart Internet, the marketplace arm of Walmart-owned ecommerce firm Flipkart, has received a cash infusion of about $90 million (Rs 722 crore) from its Singapore-based parent entity, according to regulatory filings accessed through business intelligence platform Tofler. The fresh capital came from two Singapore-based entities – Flipkart Marketplace Pvt Ltd and Flipkart Pvt Ltd. A resolution to infuse […]
Reliance Retail, which recently acquired Metro AG’s India wholesale business, will turn the stores into destination retail outlets catering to both trade and consumers, said a senior industry executive aware of the plans. Metro sold only to business customers such as neighbourhood stores, hotels, restaurants, caterers and others with a business or goods and services tax […]
Shopping at brick-and-mortar stores and eating out slowed down in November and December, on a sequential basis, as demand eased after a strong festive season, analysts and executives said. However, retailers and restaurant chains are upbeat about future prospects and look to press on with their expansion plans. “Demand momentum started waning in November and […]
