Ashley plans big for Indian furniture market

American top home furniture chain Ashley Furniture Home Store, which has entered the Indian market, plans to open 100 stores across India over the next three-five years to tap the growing segment in Asia’s third biggest economy, a top official said.
“We are very bullish on the Indian furniture market, which we want to aggressively tap for growth,” Robin Lim, vice president of sales at Ashley Home Stores, Asia told Financial Chronicle. It is one of the largest manufacturers of home furniture in the world, selling its product under the brand Ashley worldwide.

SpiceJet in $22b deal with Boeing

Low-cost carrier SpiceJet on Friday said it had placed a firm order to purchase 100 B737-8 MAX aircraft for $11 billion at list prices from Boeing.
In addition to this, it will have the purchase right to buy another 50 B737-8 Max and wide body aircraft. With the earlier deal to buy 55 airplanes, the airline's total order now stands at 205 valued at $22 billion (Rs 150,000 crore).

Schreiber Dairies gets into Indian infant food

Dairies, a subsidiary of American Schreiber International, has opened its first state-of-the-art fully automated and integrated infant nutrition ingredient plant to produce hygienic milk powder in Baramati in Maharashtra to aggressively tap the growing market in Asia’s third biggest economy.
The company said it has invested Rs 250 crore in the new plant with an installed capacity to produce 15,200 tons of infant milk powder for the Indian market as well as for exports.

Wary of shopping

Despite the number of Indian online shoppers making cross-border transactions growing 85 per cent, there was just a marginal growth of 1.6 per cent in total spend in 2016 over the previous year. The average spend by the customers drastically fell last year, according to the Annual Global Cross-Border Consumer Research 2016 done by PayPal and Ipsos.

Moonbow plans big to be among top purifier brands

Hindustan Sanitaryware & Industries, which has entered the water and air purifiers market under the brand Moonbow, is planning to set up its own factory in the country.
Aiming to be among the top three players, the company is aggressively strategising to capture 12-13 per cent market share and target a sales turnover of Rs 500 crore from water purifiers business and Rs 120 crore from air purifiers over the next three years.

Universal Udyog on an expansion mode

Kolkata headquartered Universal Udyog Ltd, manufacturers of Universal brand of edible oil is on an expansion mode. The company is in the process of shelling out nearly Rs 130 crore over the next 18 months or so to ramp up its capacity, put up new plants and roll out new products. Going by the plans envisaged by the company, once all its expansion plans are executed, the company is expecting to take its turnover to Rs 100 crore by the end of 2017, which would be a four times jumpo, said Binay Singh, chairman of Universal Udyog Ltd.

BMW names new India head

Vikram Pawah, 45, has been appointed the president of BMW Group India, effective from 1 March. Pawah brings over 25 years of international experience both in the automotive and non-automotive industry. He started his career at Jay Engineering Works, India and has held multiple leadership positions within Honda Cars in India and Australia. Most recently, he was the managing director of Harley-Davidson India.

Mercedes-Benz wins Indian luxury car race despite SC red flag

India’s biggest German luxury carmaker Mercedes Benz, has retained its leadership position in the country for the second year in a row by retailing 13,231 cars in the calendar year December 2016 despite marginal fall in sales.
This is the first time Mercedes-Benz recorded its first decline in sales in five years, hurt badly by the Supreme Court imposed eight-month ban on sales of diesel cars having more than 2-litre engines in Delhi-NCR belt on concerns over pollution.

ROI-Driven Marketing for B2B

The small and medium business (SME) sector offers significant growth opportunities, and marketing to this large segment of business in India makes sound sense for growth. Although many companies of local and international origin have positioned their products and services for the SME sector, many still have not been able to make a mark in a significant way. SAP, Oracle, Microsoft, IBM….you name it, they are all targeting the SME segment, if you just take IT sector companies alone. Perhaps Amazon is making more inroads into this sector disrupting established players’ business models.

Tractors see robust growth

The tractor industry in India, Asia’s third biggest economy, has witnessed a robust growth in volumes in the current fiscal with farm sentiments buoyed by reasonable rabi crop production during April-May, healthy monsoons as well as government support programmes.
The tractor industry has always been a barometer for the state of rural economy in India. Healthy monsoons supported improved kharif sowing as well as production (as per first advanced estimates) besides replenishing the reservoir water pan India, paving way for good winter crop.