Thought of the Day:
“While one might flatter the living, the dead deserved nothing less than the truth”
Voltaire
Did you know?
All the humans on the planet could fit into 1 cubic mile.
India:
International:
“While one might flatter the living, the dead deserved nothing less than the truth”
Voltaire
Did you know?
All the humans on the planet could fit into 1 cubic mile.
India:
- Brands cast a Safety Net Online: Anyone who wants to buy the Moto X can only get it from Flipkart, which started selling the new Motorola smartphone on Wednesday. Having just the one online shop window, so to speak, seems to work for the brand — Motorola last month sold 20,000 Moto G units on the first day after it was similarly made available exclusively through Flipkart. It’s not just phones — the broader retail business is opting for a similar online-only strategy. Earlier this month, UK highstreet women’s fashion retailer Dorothy Perkins entered the country through a tieup with Jabong.com. British department store chain John Lewis said a few months ago that whenever it comes to the country it will start with an e-commerce storefront. At least three other global fashion retailers are in talks to begin online operations without a physical outlet. “Entering the Indian market through Jabong gives us a wider reach along with faster delivery which will help the brand reach out to our target audience across cities in India,” said Malcolm Storey, managing director, Dorothy Perkins. Brands are gravitating to online first because it helps them avoid expenses associated with brick-and-mortar, such as steep rents and high distribution costs, particularly with e-commerce making rapid gains in terms of customer acquisition.
- Emami signs Sonakshi Sinha to endorse BoroPlus: FMCG firm Emami roped in Bollywood actress Sonakshi Sinha as brand ambassador for its BoroPlus face-wash range. Sonakshi Sinha would endorse anti-pollution face-wash range under its Rs 400-crore BoroPlus brand, the Kolkata-based company said in a statement. Commenting on the development, Emami Director Priti A Sureka said: "Her popularity amongst cine-goers across various demographies and markets--metros, Tier 1, Tier 2 cities and big and small towns makes her a natural choice as the ambassador for this all-season brand which caters to a wide ranging consumer periphery". "I am really excited to be associated with BoroPlus, an iconic brand which has a legacy of offering natural skincare," Sonakshi Sinha said. Apart from Sonakshi, Emami has other celebrities, such as Amitabh Bachchan, Kareena Kapoor Khan and Bipasha Basu, on its board to endorse BoroPlus.
- Luxury hotels shift focus to mid-market brands: With luxury and upscale hotels finding it difficult to make money, top global chains like the Marriott, Hilton, InterContinental, Starwood and Accor are betting big on midmarket brands as they aggressively expand in newer markets. More than 60% of the hotels that are coming up are in the mid-market category involve less capital expenditure and quicker profits, say hoteliers. "This strategy is right as midmarket is where the business volumes lie from both business and leisure travellers," says Rami Kaushal, senior executive director, CBRE Consulting. According to Kaushal, the cost to build a midmarket hotel is 60% less than that to build a luxury property. While a luxury hotel costs at least Rs 1 crore per room, a mid-market brand can be constructed for around Rs 30-35 lakh per room. Also, a mid-market property can be built in 2-3 years, while it takes more than four years to build a luxury hotel. Global hotel chain Hilton Worldwide recognised its growth potential in the mid-market segment and created prototypes of its midscale brands Hilton Garden Inn and Hampton by Hilton specific to the Indian market. "Clearly, midmarket is important for us as the nature of the segment makes it viable across not only top cities but also secondary cities as well," says Rajesh Punjabi, vice president, development India at Hilton Worldwide. It has recently signed the management contracts of two new Hilton Garden Inn brand hotels in Jaipur and Lucknow.
- Indian duo Krispian Lawrence and Anirudh Sharma launch smart shoes with bluetooth connectivity: "Run faster! Faster, to burn those calories from the pasta you had last night! Turn left and then right in five strides to get to a longer running path!" No, that's not the nagging wife, but it could soon be the voice of your shoe if Krispian Lawrence and Anirudh Sharma have it their way. The US-returned duo has designed a device to be inserted in your shoe to give accurate workout tips as well as directions to a destination. Based in Hyderabad, their company, Ducere Technologies, launched this global first product, which has a parallel solely in design form made by UK-based Dominic Wilcox. Ducere is getting its first round of angel investing of Rs 5 crore to be closed soon. The investor in Ducere, who at this time requested not to be named, said he estimates the Indian wearable technology market to touch $8 billion (approximately Rs 49,000 crore) over the next 10 or so years. Silicon Valley-based Nickhil Jakatdar, an angel investor in two wearable technology companies Tile and Cuff, said the amount of Rs 5 crore was higher than most similar investments in the US. He didn't know about the shoe, but said it was not surprising investors were interested to do solo deals with Ducere. "Wearable technology is here and it's going to be big. Rest's to see that the geekiness of the device and gestures required to operate it get ironed out".
- Foreign multi-brand retailers avoid India, for now: While the hullabaloo over allowing or banning foreign direct investment (FDI) in multi-brand retail trading (MBRT) is keeping every political party on toes before the upcomingLok Sabha elections, foreign multi-brand retailers seem to be avoiding India, at least for now. Commerce and Industry Minister Anand Sharma had claimed that after Tesco, there would be one more foreign retailer entering the MBRT space. However, the claim did not materialise. It seems the government, especially the nodal agency for FDI , Department of Industrial Policy and Promotion (DIPP) , has not received a single application post British retail major Tesco's $110 million proposal, a top official has told Business Standard. "Nobody has sent any application after Tesco. It looks unlikely now," companies have enquired about the the request for qualification (RFQ) tender floated by Green Energy Development Coaid another official, who was involved in formulating the FDI policy for MBRT. There were reports that French retailer Carrefour might be the second in queue. But it seems now, that there never was a queue even after the government relaxed certain riders that came with the FDI policy in MBRT.
- Pinterest brings Hindi language support for Indian users: Pinterest, a visual bookmarking and sharing platform, has announced an update specifically for Indian users - language support for Hindi - as a part of its app update for Android and iOS. Other languages supported in the newly updated app and website include Thai, Malay, Vietnamese, Romanian, Hungarian and Greek. With the update, Pinterest users from India can browse through the website and app using the Hindi language. Users need to visit the 'profile settings' tab to change the language. The Pinners can also make use of the additional 'Secret boards' that were recently launched by Pinterest. "During the holidays, we gave everyone a few more secret boards so people had a place to plan their gift lists and holiday surprises. Since then, we've heard all sorts of interesting ways Pinners are using secret boards, so we've decided to give you as many as you'd like!" explains the PinterestBlog. Last year, Pinterest was rated more popular than Twitter in the US as per a study. The photo pin-up site spiked up in popularity, according to the Pew Research Center survey that polled 1,445 Internet users aged 18 and older. About 21 percent of respondents said they employ the service, up sharply from 15 percent in a similar survey conducted a year ago.
- Gold Jewellery Exports Up in Feb: Gold jewellery exports from India rose for the first time in the fiscal year last month, helped by better availability of gold, and industry officials said this trend will gain pace in coming months with more banks importing. India's jewellery exports had been hit by limited gold supplies after it curbed imports to bring down a current account deficit. After falling more than 50% since the start of the year, jewellery exports edged higher by one percentage point in February to $718.36 million from a year earlier, the Gems and Jewellery Export Promotion Council (GJEPC) said. “The comfort level of availability of gold has increased and more supplies will come with new banks coming on board,” said Pankaj Kumar Parekh, vicechairman of GJEPC. He said the positive trend will continue in coming months. India has allowed five domestic private sector banks to import gold. The move could boost supplies and bring down premiums for the metal in the world's secondbiggest consumer after China. Cumulatively, India exported $6.35 billion worth of gold jewellery in the first eleven months from April 2013, down from $11.67 billion. Exporters will also eye the next policy moves from the federal government.
International:
- Luxury group Mulberry announces resignation of CEO: British luxury handbag maker Mulberry on Thursday announced the departure of its chief executive, Frenchman Bruno Guillon, with immediate effect after two years at the helm. The company did not give a reason for the departure but it follows a profit warning from Mulberry in January following slowing sales in Britain and key market South Korea, sparking a collapse of its share price. Mulberry said that Godfrey Davis, non-executive chairman and previously chief executive of the company, will become executive chairman until a successor is found. "I, along with the board, would like to thank Bruno for his hard work over the past two years," Davis said in a short statement. "He has helped improve the quality of the Mulberry offering and enabled the company to increase its international appeal and grown international retail sales. I am confident that Mulberry has the heritage, brand appeal and products to build on what has been achieved," he added.
- IKEA product recall after ‘neck entanglement’ reports: IKEA is recalling all children's bed canopies sold in the last 18 years because of a possible strangulation risk. The Swedish firm took the step after receiving 11 reports of the netting being found wrapped around the necks of children – though no permanent injuries were reported. Anyone who may have purchased one of the canopies intended to be draped around children's cots or beds have been requested to stop using it with infants and small children and to bring it back to any Ikea store for a full refund. The furniture retailer took the move following advice from experts in risk assessment. The affected bed canopies are Legendarisk, Minnen bed canopy set, Barnslig Boll, Minnen Brodyr, Himmel, Fabler, Tissla and Klammig. Carol McSeveney, Ikea children's sales leader in the UK and Ireland, said they take product safety very seriously. "That's why, as a precautionary measure due to a potential strangulation risk, we have decided to recall all children's bed canopies sold from 1996," she said. She said that although no permanent injuries have been reported, they had received 11 reports of "neck entanglement".
- HP to flesh out entry into 3D-printing market in June: Hewlett-Packard Co will outline plans to enter the commercial 3D-printing market in June, saying it has solved a number of technical problems that have hindered broader adoption of the high-tech manufacturing process. HP's foray is set to give added momentum to a fledgling industry so far dominated by smaller players like Stratasys unit Makerbot, and could help counter criticism that the sci-fi-like technology is over-hyped and still too immature for widespread consumer adoption. Chief Executive Meg Whitman told shareholders on Tuesday the company will make a "big technology announcement" in June on how it will approach the market, saying inhouse researchers have resolved limitations involved with the quality of substrates used in the process, which affects the durability of finished products. Another issue is the glacial speed with which objects actually print, Whitman said. "It's like watching ice melt. And the quality of today's 3D printing is not as good as it should be -- the surface of the substrate is not perfect," she told an annual shareholders meeting. "We actually think we've solved these problems."
- Starbucks to bring alcohol sales to thousands of stores: Starbucks will expand its evening alcohol and light bites menu, which includes bacon-wrapped dates and Malbec wine, to thousands of stores, Chief Operating Officer Troy Alstead said in a phone interview. The rollout, which can help boost sales, will take several years, he said. "We've tested it long enough in enough markets - this is a programme that works," he said. "As we bring the evening program to stores, there's a meaningful increase in sales during that time of the day." Starbucks has been focused on selling more non-coffee items, such as alcohol, juice, Teavana tea and food, to stoke US growth. The company also is expanding and improving its rewards programme and mobile applications. Earlier this month, Starbucks said it would soon test a way for customers to order items ahead of time with their smartphones. The shares rose 1.8 per cent to $75.91 at the close in New York yesterday. The Seattle-based company has dropped 3.2 per cent this year, compared with a 0.7 per cent increase for the Standard & Poor's 500 Index. The company first sold alcohol in October 2010 at a Seattle store. In January 2012, Starbucks said it was expanding the test to as many as 25 locations in Chicago, Atlanta and Southern California.
- Hermes posts glittering results driven by Asia sales: French luxury goods group Hermes on Thursday posted record profits in 2013 as sales of its bags and scarves showed little sign of slowing, especially in China. Net profits rose by 6.8 percent last year to 790 million euros ($1.1 billion) on a 7.8-percent gain in sales to 3.8 billion, the group said in a statement. Operating profits rose by 8.9 percent to 1.22 billion, roughly in line with analysts' expectations. Sales growth was strongest in Asia (minus Japan), which posted a 16-percent gain, and the United States (up 14 percent). Even in crisis-hit Europe, sales of the luxury goods surged by 12 percent, the group said. The Hermes results are especially impressive as the broader global luxury goods market shrank last year, following very strong growth in 2010-2012. Many companies in the luxury products sector have reported suddenly running into a slowing of sales in China where a campaign against corruption has reduced the giving of expensive gifts, and also lavish entertainment and consumption of expensive drinks. Analysts group Aurel BGC said the Hermes results were "extremely solid." As usual, the group gave no forecasts for 2014 but chief executive Axel Dumas told AFP last month there was an "internal" forecast of "10 percent growth at stable exchange rates."
- Retail Stocks Down Slightly as Dow Advances: U.S. retail shares were unable to break out of negative territory as Wall Street's major indices logged solid gains today. The S&P 500 Retailing Industry Group fell less than 0.1 percent to 922.06 as the Dow Jones Industrial Average picked up 0.7 percent to 16,331.05 and the S&P 500 finished with a 0.6 percent increase at 1,872.01. Investors shrugged off concerns about the vitality of China’s economy and word Wednesday of continuing reductions in bond buying by the Federal Reserve. Instead, they focused on a 0.5 percent gain in The Conference Board’s tally of leading economic indicators and, courtesy of the Fed, expanded manufacturing activity in the Philadelphia area. Burlington Stores Inc. led apparel, retail and beauty stocks tracked by WWD with a 15.8 percent increase in its shares, to $29.99, following a solid fourth-quarter earnings beat reported Thursday morning. Cato Corp. shares fell 12.9 percent to $26.21 after it reported a decline in fourth-quarter profits and forecast lower earnings for the first quarter. “The company believes that 2014 could be another tough year,” the company said in its earnings report. “The sales environment may be difficult due to continuing slow job growth and higher costs which reduce our customers’ discretionary income.” Shares of Guess Inc. were down 3.4 percent to $27.79 following the company’s guidance late Wednesday for a first-quarter loss. Fourth-quarter profits were down but ahead of analysts’ consensus estimates. In Europe, markets were largely up at the close of trading.
- Nike Sales Up 12.7% on Profit 'Beat': A hint of caution about the upcoming fiscal year slowed the pace of Nike Inc.’s third-quarter victory lap. The Beaverton, Ore.-based sports footwear and apparel giant topped Wall Street estimates for profits, sales and futures orders and boosted its gross margin as its Nike brand sales topped $6.5 billion, its Nike footwear sales in the period expanded 14.5 percent and its apparel sales grew 9.7 percent. But even with futures orders — covering bookings between now and July — up 14 percent on a constant currency basis and 12 percent overall, Nike’s management tamped down expectations for the fiscal year’s final quarter and the year ahead, projecting fourth-quarter revenues to grow at a high-single-digit rate, below the double-digit futures orders level. Donald Blair, chief financial officer, sounded a cautious note about next year’s prospects as well, even as he provided initial guidance for currency-neutral revenue growth “at or slightly above our high-single-digit target range. That said, this year’s devaluation of developing market currencies will be a significant drag on next year’s reported revenue, gross margin and profit growth. In addition, we remain committed to investing in the strategies that are driving our growth.” Nike now expects growth in its earnings per share to be “somewhat below” the midteens target range in the coming fiscal year, according to Blair.
- Twitter website 'blocked' in Turkey: Twitter users in Turkey report that the social media site has been blocked in the country. Some users trying to open the twitter.com website are apparently being redirected to a statement by Turkey's telecommunications regulator. It cites a court order to apply "protection measures" on the website. This comes after PM Recep Tayyip Erdogan vowed to "wipe out Twitter" following damaging allegations of corruption in his inner circle. The BBC's James Reynolds in Istanbul reports that he is unable to access Twitter. "I don't care what the international community says at all. Everyone will see the power of the Turkish Republic," Mr Erdogan said earlier on Thursday. He spoke after some users had posted documents reportedly showing evidence of corruption relating to the prime minister - a claim he denies. His office said that Twitter had not responded to Turkey's court rulings to remove some links, forcing Ankara to act. Twitter has so far made no public comment on the issue. There are about 10m Twitter users across Turkey. In 2010, the country lifted its ban on YouTube - two years after it blocked access to the website because of videos deemed insulting to the country's founder, Mustafa Kemal Ataturk.
- Bulgari Puts Spotlight on Roman Roots: The year 2014 marks Bulgari’s 130th anniversary, and to celebrate, the Italian jeweler is mapping out a number of events around the world, starting with the official reopening of its newly revamped Via deiCondotti store here. In conjunction with the reopening Thursday, Bulgari revealed it plans to support the restoration of the Spanish Steps and pledged to donate 1.5 million euros, or $2.1 million at current exchange. “It’s our privilege to be located next to the steps, which have also been a source of inspiration for our jewels,” said chief executive officer Jean-Christophe Babin in an interview at the store restored by architect Peter Marino. “This is a double tribute to the stairway, for the emotion it has always conveyed to our customers, and to the founder of the brand, SotirioBulgari. The steps were a passageway to reach his three shops between Via Condotti and Via Sistina — where he first opened in 1884.” Remarking on Rome’s boundless architectural patrimony, Babin said that “even the richest country on earth couldn’t afford” to protect these beauties alone, and said it was “logical that wealthy private donors or companies, which have the chance of doing good, would give back.”
Currency:
· 1 USD= ₹ 61.079
· 1 EUR= ₹ 84.182
· 1 GBP= ₹ 100.858
· 1 AUD= ₹ 55.346
Glitter Meter: India
Gold (INR/10g) | Silver (INR/kg) | |||
City | Current | Change | Current | Change |
Chennai | 29970.00 | -270 | 44950.00 | -1330 |
Mumbai | 29500.00 | -260 | 44950.00 | -1330 |
Delhi | 29260.00 | -260 | 44950.00 | -1330 |
Kolkata | 29380.00 | -260 | 44950.00 | -1330 |
World Indices:
Exchange | Last | Change |
DJIA | 16331.05 | +108.88 |
FTSE 100 | 6542.44 | -30.69 |
CAC 40 | 4327.91 | +19.85 |
DAX | 9296.12 | +19.07 |
Nikkei | 14224.23 | -238.29 |
Hang Seng | 21230.82 | +48.66 |
Sensex | 21823.52 | +83.43 |
NASDAQ | 4319.29 | +11.68 |
*Disclaimer:
World One Consulting Pvt Ltd will not accept any liability for loss or damage as a result of reliance on the information contained within this newsletter including data, quotes, charts and buy/sell signals.
World One Consulting Pvt Ltd will not accept any liability for loss or damage as a result of reliance on the information contained within this newsletter including data, quotes, charts and buy/sell signals.