Flipkart recasts top deck, Kalyan becomes CEO

E-commerce major Flipkart has elevated former Tiger Glogal Management executive Kalyan Krishnamoorthy (in pic) as its chief executive officer (CEO), replacing co-founder Binny Bansal. Bansal will be the new Group CEO while co-founder Sachin Bansal will continue as the executive chairman.
This is the second major shake-up within the company, which did not spare the founders. In January last year, Binny Bansal was made the chief CEO, replacing Sachin Bansal.

Cars to watch for at the Detroit Auto Show

Last year was a good one for global carmakers. In the week before the North American International Auto Show that will start on Monday in Detroit, Audi, McLaren, Mercedes, Jaguar, and Land Rover, among others, announced record-breaking sales numbers for December and predicted new highs for 2016. Some, like Ford, held steady in certain segments; the company’s F-Series finished its 35th straight year as the bestselling vehicle in the US.

Bollywood veteran Om Puri dies of heart attack

Veteran actor Om Puri, known for his unforgettable performances in cinema classics like "Ardh Satya", "Aakrosh" and "City of Joy", passed away at his residence here this morning after a massive heart attack.

The 66-year-old actor is survived by estranged wife Nandita and son Ishsan. "I am in shock right now. It's unbelievable. He passed away around 6-6.30 AM. He was lying on the kitchen floor," Nandita told PTI.

"I can't talk now. I am at Cooper hospital for the postmortem," she further said.

Fiat gets cheaper by 7 - 7.3 per cent

Fiat Chrysler Automobiles (FCA), world’s seventh largest Italian automaker, has slashed prices of its cars between 7 per cent and 7.3 per cent to reduce its inventory level and boost sales in India.
The new prices will be applicable with immediate effect on the current model year of the Fiat Linea sedan and Fiat Punto Evo hatchback range. This move brings the Linea range of all three trims - Active, Dynamic and Emotion- under the Rs 10 lakh at showroom in New Delhi.

Google promises better brand visibility to small businesses

Technology giant Google announced a slew of initiatives, including a new app Primer and training modules under its My Business offering, as it looks to further tap the 51-million strong small and medium businesses (SMB) market in India.
Making the announcements, Google's India-born CEO Sundar Pichai said the company is working on products for India that can be expanded globally.

Repositioning for the millennial

Nusli Wadia-owned textile flagship Bombay Dyeing, will cough up Rs 100 crore over the next four years to re-position the 137-year-old brand, and turn it focused more towards millennial consumers. The company will also scale up its distribution and roll out 4/5 new products each year on an average for the next four/five years. The plan is to push up the revenues to Rs 1000 crore by 2020, said Nagesh Rajanna, CEO, retail, Bombay Dyeing & Manufacturing Co Ltd. With a 30 per cent market share, the brand is a market leader in Rs 1000 crore bed and bathing products (organized sector).

ComMin against granting sops to Apple for plant

As the US tech giant Apple gears up to assemble iPhones locally, the commerce ministry has said it is not in favour of sops to the company for setting up a manufacturing unit in India.
The iPhone maker had sought tax concessions and waivers in labelling rules for locally manufacturing its globally popular smartphone. Ever since it first hinted at putting up an assembly unit in the country, Apple has been lobbying for relaxation in domestic sourcing norms and other concessions.

Tata Motors launches Xenon Yodha

Tata Motors, India’s biggest automaker by revenues, on Tuesday introduced its first product of 2017, the new Tata Xenon Yodha range of pick-ups with claims of high levels of performance and lowest operating cost.
The Mumbai-headquartered auto giant said Xenon range is targeted at a wide range of commercial applications.
With a starting price band of Rs 6.05 lakh at Delhi showroom, the new pick-up from the Tata stable comes in both single cab and double cab models.

DeMo: Hero, Bajaj sales slump in Dec

The demonetisation of Rs 500 and Rs 1,000 banknotes on November 8 has hit hard the motorcycles sales of Hero MotoCorp, India’s biggest two-wheeler manufacturer, and Bajaj Auto, country’s second largest motorcycle maker by sales, among others.
Also, analysts said two-wheeler sales posted a subdued performance, primarily on account of demonetisation although Royal Enfield was an exception.

TV home shopping pushes brands in hinterland

While e-commerce is still largely an urban phenomenon, TV home shopping has managed to touch India’s hinterland.
It has helped brands reach out to smaller towns and even villages, particularly in the past couple of years.
The home shopping industry, for instance, has a majority of the sales coming from tier II cities and beyond. Women are the main customers of home shopping companies.
For Naaptol, 84 per cent of the sales come from tier II and cities beyond. Metros and tier I account for just 16 per cent of their sales.