Varun Jain, The Economic Times New Delhi, 10 Jun 2015 Snapdeal is starting a two week advertising blitz for a home decor sale and has asked vendors for higher margins to fund the ad campaigns. In an email to its sellers, the online marketplace sought to raise its margins by 30% during the event and has asked them for a margin of 21% during the upcoming sale, "Decor Carnival", against the current margin of 16%. Snapdeal claims it is organising the biggest-ever Decor Carnival from June 15 to June 30. According to a mail accessed by ET, Snapdeal is planning…
Sonali Chowdhury, Business Standard New Delhi, 8 Jun 2015 Did you know that Indians spend 8 per cent of their daily consumption on gold, only marginally behind medical expenses and education? This statistic revealed by the World Gold Council in a report highlights the popularity of the yellow metal in India. Gold jewellery makes up for 80 per cent of the Rs 3,00,000-crore gems and jewellery market in the country. The organised segment accounts for a small share of 22 per cent, while the unorganised space, comprising local and independent stores, hog an overwhelming 78 per cent of the market.…
Bureau, Financial Express Mumbai, 6 Jun 2015 In a belated attempt to salvage its reputation, Swiss FMCG major Nestle on Friday decided to recall its Maggi instant noodles from the market to end the ensuing confusion in the minds of consumers, which it said did not provide a conducive environment for the product to be in the market at this point of time. The company’s group CEO Paul Bulcke flew down to India and addressed a crowded press conference to reiterate that its products are safe to consume and that it applies the same quality standards and the same food…
Saritha Rai, Forbes Asia Bengaluru, 4 Jun 2015 In his blue jeans and crisp button-down shirt, Amit Agarwal, managing director of Amazon India, appears sartorially to mimic his boss, Amazon.com CEO Jeff Bezos. The two men also are diminutive in build and brisk in manner. Agarwal sounds like Bezos when he says that in Internet and online retail time, India is still on Day One. The likeness to Bezos is no artifice. Since getting a master’s degree from Stanford 18 years ago, Agarwal has spent most of his career alongside Bezos, even for a few years as his executive assistant…
Shambhavi Anand & Richa Maheshwari, The Economic Times New Delhi, 2 Jun 2015 Puma, which made its India debut in 2006, said it posted sales of Rs 766.75 crore in the 2014 calendar year, inching closer to companies such as Adidas and Nike that entered the country earlier. The company has built on the advantage it took of a gap in the market when Reebok India took time out to deal with an alleged fraud in 2012 "I would not deny that the competition's weakness was an opportunity that we grabbed," said Abhishek Ganguly, managing director of the German company's…
Geopolitical friction has again sparked renewed concerns over inflation and rising input costs for FMCG companies as @itmeansjustice @whysnavi write. @devangshu commented.
