Monthly Archives: November 2016

Do you have an HDFC credit card? You can get Google Pixel at a discount of Rs 7,000

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NEW DELHI: Have you been wanting to buy the Google Pixel since its release but haven’t acted upon your instincts because you didn’t want to feel the pinch? That apart, if the ongoing cash crunch has acted as a dampener to your plans, there’s hope!

Google has facilitated the path to get yourself a Pixel. The smartphone is now available at a discount of Rs 7,000 with HDFC Bank’s credit cards. There is also a cashback offer that is available till November 30. The announcement comes in the wake of Apple making the iPhone 7 & the iPad Pro available at a discount of up to Rs 28,900.

And that is not all.

Google, not wanting to lose a chance to push the Pixel, has also tied up with Flipkart. The e-tailer is offering an exchange offer of up to Rs 26,000 on the Pixel, which can be further clubbed with cashback offers of Rs 5,000 and Rs 7,000 from Axis Bank and HDFC Bank respectively.

Google’s Pixel smartphone was launched in India on October 13 at Rs 57,000. The smartphone features a 5-inch full-HD (1080×1920 pixels) resolution AMOLED display and is backed by a 2770mAh battery with fast-charging technology. It has an 8MP front-facing camera powered by Sony IMX179 sensor and a 12.3MP rear camera with Sony IMX378 sensor, f/2.0 aperture, and a larger 1.55um lens allowing the camera to capture more light. It also includes features like Smartburst and Lens Blur.

Pixel features aluminium and glass frames and comes in Quite Black and Very Silver colour variants. The smartphone also has a Really Blue colour variant, which is available only in the United States. The storage options available include 32GB and 128GB. The smartphone runs Android 7.1 Nougat operating system out of the box.

source: Economic Times / 22-Nov-2016

Dyson eyes India entry next year with own retail stores

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UK firm which makes vacuum cleaners and air purifiers plans to invest £154 mn in India over five years

Crocs to open 55 new outlets in India

Business news 07-Nov-2016

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New Delhi: Last year, reported that the sales of American footwear brand Crocs jumped 1,500% in the UK after the paparazzi took a picture of Prince William and Kate Middleton’s son wearing a pair. It seems the firm now wants to build on that success.

Eyeing the Indian market, Crocs plans to set up 55 more company-owned outlets and 450 multi-brand retail points by next year. At present, the firm has about 1,000 outlets, including 35 company owned outlets and e-commerce alliances.

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The brand that sells 5.5 crore pairs annually, registering a turnover of approximately ₹9,750 crore, expects to sell 70 lakh pairs annually against the current 15 lakh in India in the next five years.

The fun footwear brand is targeting a revenue of ₹670 crore by 2021 in view of the rising sales of casual footwear in the country. Crocs will launch about 400 new products, including 250 new designs and 150 colours, in India.

“We will have 100 company-owned retail outlets by the end of next year,” said Deepak Chhabra, managing director.

A study by Retailers Association of India said the per capita consumption of footwear in urban India has risen from 1.4 pairs in 2010 to 2.6 in 2015. Moreover,casual wear constitutes 70% of the total footwear sales.

With an annual production of 210 crore pairs, India is the second largest footwear producer in the world, according to industry estimates.

Abbott to set up innovation hub in India

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Business News 07-Nov-2016

Global drug maker Abbott is setting up an innovation and development center (I&D) in Mumbai aimed at developing new drug formulations, new indications, dosing, packaging and other differentiated offerings to feed into its global branded generics business that clocked sales of $3.7 billion last year. The centre will act as a “hub” and ship products to at least 30 countries that will further develop the products to suit local needs. Abbott officials did not divulge the amount it is planning to invest.

Speaking to ET, Mike Warmuth, Executive VP, Established Pharmaceuticals division of Abbott said the proposed investments will result in doubling of its local scientific manpower like packaging technologists, formulation development specialists and clinicians. The centre will also have a pilot scale plant, he added. “We are investing in innovation and scale and we are doing it in areas where people have needs. It is not about getting sales for the sake of getting bigger,” Warmuth, who is based in Basel, Switzerland, told ET on his second trip to India in the last two weeks.

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Abbott has its existing innovation and development centres in Chile and Columbia for the regional needs in Latin America and one in Russia. The Indian I&D hub is expected to become its biggest center in the next few years.

The drugs-to-devices giant drew over a fifth or $850 million (Rs. 5673 crore) of its global branded generics business from India in 2015. Warmuth described India as a “cornerstone of success” making specific reference as a “talent exporter” and how it helped Abbott gain a scientific edge in its other countries of operations.

Warmuth said he expects the India business to outperform the market consistently as in the case of its other 15 priority markets that together contribute 75% of the total sales. “We do the heavy lifting, providing products at a rate that is affordable and not price gouging,” he noted. He said his company will explore about 20 to 30 products that are likely to come off-patent in near future. Beyond that, Warmuth said part of his “model” includes in-licensing drugs that may include biosimilars. It exists in the “realm of the possibility” but not necessarily of a big scale in India.

Abbott is uniquely positioned in the global branded generics business. It carved out the business and separated AbbVie, its innovation products business. Abbot has been among the most aggressive investors in India. Last year in one of the biggest deals in the real estate space, it acquired commercial property in Mumbai’s business district Bandra Kurla Complex at Rs 1479 crore.

The drug maker had leapfrogged to the number one position India after it snapped up Piramal Healthcare’s prescriptions business for $3.7 billion in 2010. Last year Abbott slipped to second position with Sun Pharma acquiring Ranbaxy to gain the top spot.

Asked about the overall regulatory and economic environment in India, Warmuth said the regulators are trying to do the right things but he maintained it would be good to see the environment a little more stable when making investment decisions. “Overall that does not really change our view on the market itself,” Warmuth added.

Thyrocare eyes Rs 1,000 crore biz by 2020

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source: Business Standard – 07-Nov-2016

Diagnostic laboratory chain Thyrocare Technologies is targeting revenue of Rs 1,000 crore by 2020 and plans to invest Rs 50 crore every year till then .

The company was expanding its network of laboratories, said A Velumani, chairman, Thyrocare Technologies.

Speaking to reporters on the sidelines of TiECON Chennai 2016, he said, “I have 1,200 franchisees, I want to take them to 5,000 by 2020 and I visualise a Rs 1,000 crore turnover by then.”

Franchisees will mainly cover taluk headquarters and cities. One franchisee is needed for 500,000 people.

By the end of 2020, Diagnostic laboratory plans to have a network of 25 laboratories across the country.

Thyrocare Technologies now has a laboratory each in Delhi, Mumbai, Kolkata, Hyderabad, Bhopal, Bengaluru and Coimbatore. Velumani said that going forward company would add five laboratories every year and invest Rs 50 crore per year to support the planned business growth.

Thyrocare Technologies expects to end the financial year with a profit after tax of Rs 100 crore. The company’s turnover in 2015-16 stood at Rs 250 crore, which is expected to climb to Rs 300 crore in the current year.

Max Healthcare to invest Rs320 crore in Delhi cancer care centre

source: Livemint / 01-Nov-2016

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Max’s investment is part of a larger plan to develop its hospital in Saket into a master complex of verticals such as cancer, cardiac sciences and neurosciences

Max Healthcare Ltd will invest as much Rs320 crore to build a cancer hospital in Delhi.

The investment, part of a larger plan to develop its hospital in Saket, New Delhi, into a master complex of verticals such as cancer, cardiac sciences, neurosciences, transplants and diabetes, will go into setting up a cancer care centre with around 350-400 beds initially, Rohit Kapoor, senior director and chief growth officer of Max Healthcare, said in an interview.

Excluding land costs, setting up a bed at an oncology centre in Delhi-NCR costs about Rs80 lakh.

“We will be developing a dedicated facility for cancer care in Saket. Hopefully with that and the other hubs that we have, we want to position ourselves as one of the leading cancer players not just in India but Asia,” Kapoor said.

In a 26 September interview, Analjit Singh, founder and chairman of Max Healthcare, said that he wants to develop Saket into the single largest hospital in Asia.

The company has hired HKS Architects to design the complex, which is spread over a 13-acre plot that includes the existing Max Hospital in Saket, the Saket City Hospital (SCH) that Max acquired in July, and a piece of vacant land in the premises of SCH over which Max has operating rights.

SCH and Max combined have around 800 beds, which is expected to increase to more than 1,800 in phases. Across its hospitals in north India, Max has about 5,000 operating beds. Of which, around 2,300 are currently functional.

“We really want it to go big on five or six specialities such as cancer, cardiac sciences, neurosciences, transplants, and diabetes,” Kapoor said. “We have product heads for these and they are focusing exclusively on these.”

Currently, cancer treatment accounts for about 14% of Max Healthcare’s total revenue.

“The demand for cancer treatment is going to be immense. I don’t see any reason why we should not look at volume growth of 20-25%,” Kapoor said.

There are about 1.5-2 million reported cases of cancer in India and the actual number could be double that.

Oncology and cardiac sciences contribute close to 30% of the overall revenue of Max Healthcare revenue, which is estimated by to be about Rs2,200 crore. “We are looking at a 17-18% CAGR (compound annual growth rate) in our healthcare business on a five-year basis,” Kapoor said.

Amazon will continue to invest heavily in India, says Amit Agarwal

Amazon India chief Amit Agarwal says the $3 billion investment announced in June was on track as the firm is excited about the e-commerce momentum here

Marriott plans 200 hotels by 2020: Rajeev Menon

source:Business News / 01-Nov-2016

Kolkata: JW Marriott has become the undisputed king of hotels after the acquisition of Starwood. Rajeev Menon, chief operating officer, Asia-Pacific operations (excluding China) of Marriott International, tells Avishek Rakshit about the group’s plans to speed up its hotel count and focus on the mid-market and upscale brands. Edited excerpts:

What is the road map for the Marriott International group in India after the acquisition of Starwood?
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The road map is very much what we have done so far, except that it will be accelerated growth. Earlier, we were targeting 100 hotels by 2020, but with the Starwood acquisition, which makes us the largest player in India, we can safely say, we’ll be close to 175-200 hotels over the next four years. We’ll have 15 brands operating in India by this year.

In the mid-space and below, there is probably 50 per cent supply, and in the upper luxury there would another 45-50 per cent.

What structural changes took place in the organisation after the Starwood acquisition? Will there be a headcount reduction?

In the next 15-30 days, I will announce the India structure for the future. Currently, both leaders — Neeraj Govil (area vice-president — South Asia of Marriott International) and Dilip Puri (managing director, India, & regional vice-president, South Asia, of Starwood Hotels and Resorts) — are reporting to me.

We are going to maintain both our Delhi as well as Mumbai offices as we see these two cities as strategic markets catering to south Asia. India is also the hub for managing places like Bangladesh, Nepal, Bhutan and Sri Lanka. So we’ll keep both offices.

My focus would be to get the best talent from both the Starwood and Marriott teams and there will not be a headcount reduction. In some cases, where there are identical jobs being done by two people, we will try to relocate them into other opportunities.

After the merger, what will be the future of the ITC-Starwood hotel deal?

The master franchisee deal will continue under Marriott. I started my career with ITC as a trainee and there are some very dear friends there today and from our perspective nothing changes. It is just a shift from Starwood to Marriott.

Will there be a clash of positioning of hotels now that you have acquired the Starwood brand, which also has a deal with ITC?

I generally believe that there is ample opportunity for all lodging segments, given India’s long-term growth potential. It’s really about how a company positions its brands and stays true to the brand’s commitment and delivers returns.

Will you bring your entire 30 brands into India in the near future?

I don’t think so. It is easy to bring in a brand to India but the difficult part is how to grow it. There are many global luxury hotel brands that haven’t succeeded here.

Right now, many luxury brands are posting negative Ebitda (earnings before interest, tax, depreciation and amortisation). What is the case with Marriott?

There are elements like cost of land, how effectively you borrowed money from banks and at what interest rate, how quickly you build the hotel and how effectively you manage the business. In India typically, when you are getting 10-year loans at high interest rates, and its taking you 7-8 years to develop the hotel, you get only two years to pay. Hence, you hear all this negativity.

Over the past couple of years, we have seen double digit growth in our topline as well as bottomline in India.

What is your market share now?

Last year we carried a 30 per cent market share premium to our competitors on same-store sales. Any brand that can carry a 25-30 per cent market share premium is very well positioned.