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Xiaomi India head Muralikrishnan B resigns

Xiaomi made a comeback to the top position in the second quarter of 2024, but it again lost the position to Vivo New Delhi: Chinese smart devices firm Xiaomi’s India head Muralikrishnan B has resigned from the company to pursue his interest in academic research, the company said on Monday. He will continue to support Xiaomi India as an independent Strategic Advisor, the company said. “Muralikrishnan B, the current President of Xiaomi India, will be transitioning out of his role at the end of the year. After over six impactful years with the company, Murali is set to pursue his passion for academic research, focusing on his Executive Doctorate in Management, where he aims to deepen his expertise in Consumer Behaviour on Technology Platforms,” the company said in a statement. After leading the smartphone market in India for several years, Xiaomi has been making efforts to reclaim its numero uno position. According to Counterpoint Research, Xiaomi made a comeback to the top positi
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Titan Q2 net profit down 23.1% to Rs 704 cr, sales up 25.8%

The company posted a net profit of Rs 916 crore in the July-September quarter a year ago, according to a regulatory filing from Titan. New Delhi: Leading jewellery and watchmaker Titan on Tuesday reported a 23% decline in its consolidated net profit to Rs 704 crore for the second quarter ended on September 2024. The company posted a net profit of Rs 916 crore in the July-September quarter a year ago, according to a regulatory filing from Titan. However, its sales were up 25.82% to Rs 13,473 crore during the quarter under review. It was Rs 10,708 crore for the corresponding quarter. Total expenses of Titan increased 20.23% to Rs 13,709 crore in the June quarter. Titan’s total income in the September quarter rose 15.83% to Rs 14,656 crore. During the quarter, Titan’s jewellery business increased 15.25% to Rs 12,771 crore. In the jewellery business, Titan’s India business grew by 25% triggered by the “gold rush” after a reduction in customs duty (CD). “The custom duty reduction s
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India’s home textiles likely to witness 6-8% revenue growth this fiscal: Report

The growth is driven by resilient demand from the key export destination like the US and expansion in the domestic market Mumbai: India’s home textile industry is expecting 6-8 per cent revenue growth this financial year driven by resilient demand from the key export destination like the US and expansion in the domestic market, a report said on Tuesday. Following a 9-10 per cent rebound in revenue growth last fiscal, India’s home textile industry is set to stitch 6-8 per cent growth this fiscal riding on resilient demand from the US and expansion in the domestic market – and notwithstanding some lingering logistical challenges, Crisil Ratings said in a report. The credit profiles of home textile companies will remain stable, supported by healthy cash accrual and moderate capital expenditure (capex) plans on the back of deleverage balance sheets. The home textile industry derives 70-75 per cent of its revenue from exports , of which the US alone accounts for 60 per cent, and the re
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Is Quick Commerce a Boon or a Bane?

While q commerce poses a serious threat to kiranas, it offers a myriad benefits, writes retail veteran J. Suresh Quick commerce (Q com) has caught the headlines recently for its rapid growth and high valuations. As it whizzes past the Indian retail landscape, what is overlooked is its impact on the livelihood of traditional Kirana stores and the livelihoods of those employed in such stores. As one watches the growth of Q com with awe, I am reminded of the advocacy some of us undertook on behalf of the retail industry requesting Government approval for FDI in multi-brand retail. The background To put things in perspective, modern retail in India began to take shape in the late ’90s-early 2000s with the emergence of supermarkets and a few hypermarkets. However, growth was slow, as India, being a capital-constrained country, companies struggled to get finance to fund expansion. The retail industry began advocating for Foreign Direct Investment FDI and Foreign Institutional Investment
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Uppercase Ups Ante: Targets 100 EBOs, Rs 250 Crore Revenue In 2 Years

Travel gear brand Uppercase currently operates six exclusive brand outlets (EBOs) and is present in 2,076 general trade stores across 653 Indian cities Bengaluru:  India’s luggage and bag market is thriving, currently valued at around Rs 1,20,000 crore, according to  reports . With the post-pandemic travel boom, luggage brands are seizing the moment through rapid retail expansion and innovative product launches. Homegrown travel gear retailer Uppercase is one such brand, but what differentiates it from its competitors is that it is built on the cornerstone of sustainability and recycling. Mumbai-based Uppercase was founded in 2021 by Sudip Ghose who brings more than two decades of experience in the industry. The company quickly gained market traction and made its general trade debut in early 2023. In August 2024, it opened its first two brick-and-mortar stores in Bengaluru’s Lulu Mall and Mumbai’s Phoenix Marketcity Mall in Kurla. As of now, Uppercase has more than 250 stock-keepin
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Bata India Q2 profit up 53% to Rs 52 cr

Revenue from operations was up 2.2 per cent to Rs 837.14 crore during the quarter under review New Delhi: Leading shoemaker Bata India Ltd. on Monday reported 53 per cent rise in consolidated net profit at Rs 51.97 crore for the second quarter ended September 2024, helped by operational efficiencies and premiumisation. It had posted a net profit of Rs 33.99 crore for July-September FY24, according to a regulatory filing from Bata India. Revenue from operations was up 2.2 per cent to Rs 837.14 crore during the quarter under review. “The EBITDA profit stability showcased the company’s resilience in managing operational efficiencies,” said Bata India in its earning statement. Total expenses in the September quarter were at Rs 784.55 crore, up 5 per cent year-on-year. “The results for the quarter reflect continued momentum in the transformation journey, driven by strategic investments in product innovation, elevated customer experience, technology integration and brand premiumisatio
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Indriya’s point of difference is going to be designs and experience: CEO Sandeep Kohli

Sandeep Kohli, CEO of Aditya Birla Jewellery’s Indriya about the brand’s aspirations, strategies and what it is doing to disrupt India’s jewellery buying experience In July this year, Aditya Birla Group (ABG) Chairman Kumar Mangalam Birla announced the $100 billion diversified group’s foray into jewellery retail with Indriya. The Group, which has a significant presence in fashion and lifestyle retail through its subsidiary Aditya Birla Fashion and Retail (ABFRL), chose to park the jewellery business under the larger umbrella rather than ABFRL while committing Rs 5000 crore towards growing the business. ABG has big plans for the brand, aiming for it to be among India’s top three jewellery retailers in the country over the next five years. And it appears as if it is wasting no time trying to get there… it marked its foray by opening four Indriya stores in a single day (2 in Delhi, 1 each in Indore, and Jaipur). The plan is to dazzle people with sprawling stores larger than Rs7,000 sq
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