Rochelle Britto & Shabori Das, The Economic Times May 25, 2023 “Taiyaar Hoke Aaiye”. It seems the tagline has worked for the company which has been able to attract investors who came prepared for its offer for sale (OFS). In a bid to reduce promoters’ shareholding down to 75% as per SEBI norms, Vedant Fashions, known for its ethnic wear brand Manyavar, floated the OFS on May 19 which saw huge participation — oversubscribed 1.4 times with bids for 34 million shares as compared to 24 million shares on the offer. The non-retail segment was oversubscribed 2.24 times. The shares…
Shambhavi Anand, Economic Times New Delhi, May 24, 2023 Retailers and shopkeepers will soon not be allowed to seek phone numbers of their customers while generating bills, according to a diktat by the department of consumer affairs, a senior government official said. Taking the numbers of customers without their "express consent" is a breach and encroachment of privacy, said the official, without wanting to be identified. The official added that such a move will be classified as an unfair trading practice defined as any business practice or act that is deceptive, fraudulent, or causes injury to a consumer. Most large…
Viveat Susan Pinto, Financial Express May 16, 2023 The country’s top two organised retailers, Reliance Retail and DMart, are shifting focus to the large but fragmented pharma retail market in India in their quest for growth. The Rs 2-trillion domestic pharma retail industry is largely dominated by mom-and-pop stores, much like the fast-moving consumer goods market and kiranas. On Saturday, Avenue Supermarts, which runs the DMart chain of stores, said it had set up a new subsidiary called Reflect Healthcare and Retail to launch pharmacy shop-in-shops. Reliance Retail, on the other hand, proposes to step up the launch of offline…
Gargi Sarkar, Inc42 6 May 2023 With one of the largest consumer bases in the world, the Indian retail industry is on a constant upward spiral, thanks to the increase in the purchasing power of Indian consumers and the ever-increasing ecommerce adoption. Notably, this has helped segments like online beauty and personal care (BPC) sustain and grow faster than the players in the offline space. According to industry experts, the online BPC market has been growing in the range of 20% to 25% annually, compared to the offline segment at around 8% to 10% a year. According to a IMARC…
Samar Srivastava, Forbes India April 24, 2023 A board meeting scheduled for May 2 promises to be the start of the value unlocking process for Reliance Industries [Disclaimer: Reliance Industries is the owner of the Network18 group, which publishes Forbes India]. Shareholders of India’s largest company, which has a presence in industries as diverse as petrochemicals, retail and telecom, will each receive shares in its financial services unit—Jio Financial Services. User data—what consumers search for, their demographic profile as well as their likes as dislikes—are available to India’s largest telecom company with 426 million users. If it can use that…
Geopolitical friction has again sparked renewed concerns over inflation and rising input costs for FMCG companies as @itmeansjustice @whysnavi write. @devangshu commented.
