Sagar Malviya, Economic Times 4 December 2024 Demand for sportswear from running shoes to joggers and yoga mats slowed down for leading firms such as Puma, Adidas, Nike, Skechers and Asics, halting their sprint since the easing of the Covid-19 pandemic when they doubled their sales in two years. Sportswear firms have reported 1-25% year-on-year increase for 2023-24, down from 35-85% increase for the previous financial year, according to the latest regulatory filings. While demand for fitness wear and sports equipment for disciplines other than cricket grew as people prioritised health with the onset of Covid-19, consumers cut back on…
Writankar Mukherjee, Economic Times 3 December 2024 Flipkart is set to shortly start delivering medicines within 10 minutes, likely becoming the first quick commerce service to do so, intensifying competition in this red-hot market. The Walmart-owned company's Flipkart Minutes service has started enlisting local chemists in the metros from where the products will be sold using its last mile delivery partners, said a senior industry executive aware of the plans. Flipkart is hurrying since it wants to be the first quick commerce service to sell prescription medicines. To be sure, the company's partnerships with local chemists needs to be in…
Economic Times 14 November 2024 The Swiggy IPO is making news for being the most successful in a decade in its category. The food and grocery delivery firm yesterday listed at a 5.6% premium to its IPO price of Rs 390, making it the first company with an issue size of over Rs 10,000 crore in the past decade to have listed above its offer price, ET has reported. The stock closed 17% above its issue price at Rs 455.95 in a weak market, surpassing analysts’ expectations of a tepid debut. The company’s market capitalisation at close on Wednesday was…
Nisha Qureshi, Afaqs 28 Oct 2024 Reliance Industries last year made a strategic move into the soft drink sector by acquiring the iconic carbonated beverage brand ‘Campa Cola,’ which gained prominence in the 80s and 90s. The conglomerate intends to strengthen its brand by employing its classic pricing disruption strategy. Reliance is expanding its presence nationwide by focussing on affluent regions and utilising e-commerce and quick commerce platforms. Recent reports suggest that Campa Cola is providing retailers with more favourable trade margins than its rivals Coca Cola and Pepsi, aiming to challenge the existing duopoly in India's soft drink market.…
Nandini Singh, Business Standard 11 October 2024, New Delhi Reliance Retail, the country’s largest retailer, has officially entered the booming quick commerce space, intensifying competition for players like Zomato-owned Blinkit, Swiggy Instamart, and BigBasket. The company began offering quick commerce services through its e-commerce platform JioMart in select areas of Navi Mumbai and Bengaluru last weekend, a move that signals its intent to disrupt the segment, as reported by The Economic Times. Initially, Reliance would start with selling grocery items from its network of 3,000 retail stores nationwide. However, the company has ambitious plans to extend its offerings to value…
Geopolitical friction has again sparked renewed concerns over inflation and rising input costs for FMCG companies as @itmeansjustice @whysnavi write. @devangshu commented.
