Written By Akanksha Nagar Having acquired Patanjali Ayurved’s food retail business, the company has ambitious plans While its edible oil business has been its mainstay, Ruchi Soya’s CEO Sanjeev Asthana is confident that the share of FMCG revenue could touch 20% this fiscal. Ruchi Soya has its sights set on clocking `20,000 crore- `22,000 crore in revenue over the next five years from its FMCG business, after recently having acquired Patanjali Ayurved’s food retail business worth `690 crore. The Patanjali food portfolio comprises 21 major products, including top-selling items such as ghee, honey and juices, besides staples such as atta…
By Manu Balachandran, Forbes IndiaApr 27, 2022 Sometime in 2002, in his mid-20s, Ravi Modi wanted to buy a Mercedes. Not because he was a petrol head or because he wanted to flaunt his newfound success in his hometown, Kolkata. “My belief was that if you can afford it, buy it,” says Modi, who’s dressed in a blue kurta pyjama at his house in Newtown, Kolkata. His then-four-year-old business, Vedant Fashions, which made popular ethnic wear, Manyavar, was doing reasonably well and money was flowing smoothly. However, as he firmed up his plans to buy a Mercedes, his father, who…
Written By Christina Moniz Brand and marketing experts, while expressing surprise at the development, as the two labels enjoy significant brand equity, also noted that if true, it highlights the challenges faced by legacy brands, with international brands growing their footprint in the country. Apparel and textile major Raymond may be in the midst of talks to sell its prized apparel brands Park Avenue and ColorPlus, amid rising speculation about the future of the company’s apparel business. As per media reports, the company is in talks with Danish retail group Bestseller — which houses labels such as Jack & Jones,…
Written By Devika Singh The Enforcement Directorate (ED) on April 19 accused Amway India of running a “multi-level marketing (MLM) scam” and attached its assets worth Rs 757.77 crore. This is not the first time that Amway India has been accused of running a ‘pyramid scheme’. Read on to understand how direct selling is different from pyramid schemes and why has the ED attached Amway India’s assets? The direct selling industry is again under the regulatory scanner in India with the Enforcement Directorate’s (ED) move to attach the assets of the Indian unit of US-based direct selling company, Amway. The…
Written By Suvashree Ghosh, Bijou George, and Sankalp Phartiyal It was a contentious plan to repay overseas bondholders in full that brought what would have been India’s biggest retail deal to a grinding halt. Debt-laden Future Retail Ltd.’s offshore bondholders -- a relatively smaller part of the creditor pool -- were promised 100% payment in the rescue offer from billionaire Mukesh Ambani, according to people with knowledge of the matter. Indian lenders were asked to take a haircut of as much as 66%, the people added, asking not to be identified discussing confidential information. The unequal treatment led to the…
Geopolitical friction has again sparked renewed concerns over inflation and rising input costs for FMCG companies as @itmeansjustice @whysnavi write. @devangshu commented.
