Spencer's rolls out new apparel brand

The Rs. 19,000 crore RP-Sanjiv Goenka Group, through its retail arm-Spencer’s Retail Ltd, is now foraying into apparels business, rolling out apparels for men, women and children under the brand-‘2Bme’. The company expects to notch up Rs 300 crore revenue from this brand over the next four years, top company officials said.

Porsche unveils mid-engine sports cars

Porsche India, the official importer of German super sports luxury cars from Porsche AG, one of the luxury brands of Volkswagen AG, on Wednesday launched the facelifted mid-engine sports cars 718 Boxster and the 718 Cayman at a price of Rs 85.53 lakh and Rs 81.63 lakh respectively at Delhi showroom to woo buyers in Asia’s third biggest economy.
Interestingly, the ‘718’ prefix, which harks back to the 718 race car from 1957, was first received by the Boxster when introduced globally last year, followed by the Cayman as a part of their mid-cycle facelift.

BookMyShow acquires 75 per cent stake in Townscript

Entertainment ticketing platform BookMyShow on Tuesday said it has bought 75 per cent stake in Pune-based 'Townscript' for an undisclosed amount.

Founded in 2014 by Sachin Sharma and Sanchit Malik, Townscript is a DIY (do it yourself) event registration and ticketing platform that allows users to set up events like workshops, conferences and exhibitions.

Its platform has already facilitated 12,000 such events across major cities as well as smaller cities like Ludhiana and Jaipur.

DeMo effect to keep ad spend growth low

The continuing impact of demonetisation and a lowered GDP growth estimate will bring down the advertising expenditure growth to 10 per cent in 2017, after growing by 15.5 per cent in 2016.
The advertisement spend is expected to be Rs 61,204 crore in 2017 growing from Rs 55,671 crore in 2015, finds GroupM, global media management investment company.
Despite two per cent negative impact of demonetisation in the last quarter of 2016, adex had grown by 15.5 per cent in 2016 from Rs 49,758 crore in 2015. The impact is going to linger in the advertisement space for some more time.

InterContinental Group on an expansion spree

For InterContinental Hotels Group (IHG), one of the world’s largest hotel chains, India is one of the third most important growth market, after the US and China. IHG, which, at present, has 29 hotels in India under four brands- InterContinental Hotels & Resorts, Crown Plaza, Holiday Inn, Holiday Inn Express, will add 41 more in the country over the next three-five years or so. That’s not all.

Honda unveils fourth generation City

The Japanese automobile major Honda Cars India on Tuesday introduced the much awaited fourth generation all new Honda City facelift to boost its sagging sales in the fiercely competitive Asia’s third biggest car market.
The best selling sedan Honda City with a price brand at between Rs 8.5 lakh and Rs 13.58 lakh at Delhi showroom Delhi aims to regain top slot from direct rival Maruti Suzuki's Ciaz in the country. The new Honda City will also take on rival Volkswagen Vento, Skoda Rapid and Hyundai Verna in India.

Snapdeal focuses on house-keeping

Mounting losses and markdown in valuation is forcing e-commerce company Snapdeal to put its act together. It has closed down a couple of unviable e-tailing portals and brought in a new investment and strategy officer, amidst reports about a possible downsizing.

Patanjali to buy Ruchi Soya units

Baba Ramdev’s Patanjali Ayurved has come to the rescue of debt-ridden Ruchi Soya Industries, offering to buy out three plants after the edible oil major’s joint venture plan with Adani Wilmar fell through.

Car sales up 14%

Passenger vehicle sales, which include cars, utility vehicles and vans, in Asia’s third biggest car market rose 14.40 per cent last month, signaling revival and near double digit growth this fiscal, bringing cheer to automobile industry.
Automobile manufacturers sold 2,65,320 units in January, up from 2,31,917 units sold in the same month last year, the latest data from the Society of Indian Automobile Manufacturers or Siam, a trade body, showed on Thursday.
Car sales were also robust by 10.83 per cent at 1,86,523 units as against 1,68,303 units in January last year.

Top churn in Ola, Bansal quits as CFO

Rajiv Bansal, who quit Infosys to join Ola as chief financial officer, has quit the cab aggregator. Ola’s chief marketing officer Raghuvesh Sarup has also put in his papers, according to sources.
The development comes amid Japan’s SoftBank booking an investment loss of $350 million on its investments in India, including those in Ola and e-commerce company Snapdeal.