Written By Sharmila Das New Delhi: India focused private equity firm Samara Capital plans to buy Aditya Birla Retail’s (ABRL) supermarket chain, More, for about Rs 2,500 crore. The PE firm is in advanced talk to complete the deal; a few industry experts with knowledge of the matter said this today. As per the experts, primarily the group wants to sell its supermarket chain to reinvest the amount in Aditya Birla Fashion and Retail (ABFRL) to maintain its dominant position in the category. Also, because food and grocery is a low margin business, the group wants to shift focus on…
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Written By Priyanka Golikeri What makes brands ride on another one? It takes two to tango. At least in the roller-coaster world of big brands. Recently, Nestle and Starbucks entered into an alliance where the Swiss food and beverage (F&B) company pledged to pay Starbucks $7.15 billion for exclusive rights to sell the US-based chain’s coffees and teas around the world. This collaboration is just one of the many where two brands have tried to draw in strength from each other’s muscle. Experts say such retail and distribution alliances are at best symbiotic, where each brand complements the other and…
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Tony Fernandes’s apology may not undo the damage Written By ASHWINI PHADNIS AirAsia promoter Tony Fernandes’s video message on his Facebook page apologising for his decision to do a campaign video in the run-up to the May 9 vote in Malaysia in favour of Prime Minister Najib Razak, who has since been ousted, has created a storm on the digital media. Razak was defeated in the polls by the 92-year-old Mahathir Mohamad. In the latest video, posted on Sunday, Fernandes explained that he was under immense pressure, adding that it was not right (for him to side with one candidate)…
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Written By Athira Nair The US retail giant’s has had a tumultuous journey outside its home turf. There are many lessons to be learnt in its foray in Germany, the UK, Japan, and Korea in the past. Unless you have been living under a rock for the past month, you already know of American retail bigwig Walmart acquiring India’s e-commerce leader Flipkart. The deal – biggest e-commerce deal in history – has gained attention for multiple reasons. The two players are taking on their common rival Amazon. The Arkansas-based 56-year-old retailer entered India in 2007, but has not been able…
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Written By Mayu Saini The U.S. retailer has taken a 77 percent stake in Flipkart for $16 billion and becomes the market leader in India. NEW DELHI, India — After years of negotiating for a toehold in the $700 billion Indian retail market, Walmart Stores Inc. has finally made a strong entry by taking a majority stake in the country’s biggest e-commerce player, Flipkart. Walmart will invest $16 billion in Flipkart, for a 77 percent stake in the company, which has been value ... Source: business-news
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