Hindustan Unilever (HUL) has unveiled plans to restructure its beauty and personal care business, dividing it into two distinct divisions, to intensify focus on these high-growth segments amidst mounting competition from emerging brands. The consumer goods giant announced this strategic move in an exchange filing on Friday, stating that the split into dedicated ‘beauty and […]
The Competition Commission of India (CCI) has given its approval for the acquisition of a 1.74 per cent ownership stake in Lenskart Solutions by Kedaara Capital Fund III LLP. Lenskart Solutions specialises in eyewear products, while Kedaara Capital Fund is a registered Alternative Investment Fund (AIF) under SEBI and is part of the Kedaara Group. […]
The omnichannel meat retailer, Licious, witnessed a notable reduction in its losses for the financial year concluding on 31 March 2023, marking a decrease of approximately 38 per cent to Rs 528.6 crore compared to Rs 855.7 crore the previous year. Concurrently, the company experienced a growth in revenues by 9.5 per cent, reaching Rs […]
Amazon has partially won in an EU court case related to European Union ecommerce market regulation laws, which come under the Digital Services Act (DSA). On Thursday, the EU General Court ruled in favour of Amazon, by agreeing to suspend a requirement under the DSA that Amazon is obligated to follow and make an ads library public. […]
Chinese conglomerate Alibaba has announced plans to make its artificial intelligence (AI) model, Tongyi Qianwen, widely available to the public. The Chinese regulatory has approved the plan, according to a news report published on its WeChat account. The report also mentioned that in the near future, an open source version of the large language model […]
Unilever has reported increased competition from smaller players in the Indian Fast Moving Consumer Goods (FMCG) sector following a cooling off of raw material prices. This has compelled its subsidiary, Hindustan Unilever, to shift its focus towards increasing volumes and implementing price reductions. Graeme Pitkethly, Unilever’s global chief financial officer, discussed the situation at the […]
Telecom company Bharti Airtel on Monday said it has prepaid Rs 8,024 crores to the Department of Telecom towards prepayment of deferred liabilities pertaining to spectrum acquired in an auction held in 2015. The liabilities which were prepaid had an interest rate of 10 per cent, Airtel said in a statement. Airtel, in the statement, […]
The Tamil Nadu Co-Operative Milk Producer’s Federation, which sells dairy products under the brand Aavin, has hiked prices for paneer and badam mix in Chennai and its suburbs. The revised retail prices will come into force with immediate effect, the Federation said in an official notification. The retail price of one kg paneer, which was […]
In an era of globalisation, big brands vs traditional businesses is a fight that continues in every sector. And the Indian jewellery sector too isn’t untouched by the winds of change. As the big jewellery brands decide to expand in Tier II and even Tier III cities across India, traditional jewellers too have upped their […]
The launch of the low-cost ‘Jio Bharat’ smartphone by Reliance Jio is expected to raise the telecom major’s market share at the lower end of the market, said JP Morgan. In a report titled ‘India Telecom’, JP Morgan said ‘Jio Bharat’ is likely to disrupt the bottom of the pyramid. Reliance Jio on Monday launched […]
