Esprit India eyes 30% revenue growth; to enter 10 new cities International lifestyle brand, Esprit is present in 45 countries and is the 7th largest apparel brand in the world with a global turnover of $ 5 billion. Esprit India's revenue for 2009-10 stood at Rs 80 crore. Targets the middle-to-upper-middle clientele. Entered India in a tie-up with Madura Garments, a wholly-owned subsidiary of Aditya Birla Nuvo, in 2005.
Currently, present in 12 cities in India.
Harley to assemble bikes in India Iconic American motorcycle maker Harley-Davidson will start assembling select models in India. To crack the booming Indian premium bike market dominated by Japanese brands. The upcoming facility at Bawal in Haryana will become operational in the first half of 2011 with an initial capacity to assemble 200 bikes per year. Completely knocked-down (CKD) kits attract a lighter net duty and taxes of around 60% compared to the 110% tax being levied on imported bikes.
Contd.. A cheaper price tag will help Harley-Davidson make deeper inroads in the world’s second-largest two-wheeler market. The super bike market in India was estimated at around 1,000 units last year and is growing 20% a year. Dominated by Japanese companies Suzuki, Yamaha and Honda with Suzuki’s Hayabusa in the lead. Hopes to gain an edge over BMW's Motorrad with its assembly plant. Harley sells bikes with engine capacities of 883cc to 1500cc and priced in the range of Rs 7.8-38 .7 lakh.
VodaEssar plans to sell 7,000 towers Vodafone Essar, India’s third-largest cellphone operator by subscribers. Plans to sell its 7,000 towers across 7 circles. GTL Infrastructure and Tata Quippo are learnt to have evinced interest in acquiring Vodafone Essar’s towers in these 7 circles. Vodafone Essar’s towers and other physical infrastructure in rest of the country are held by Indus Towers. The deal size could be over Rs 2,000 crore. Indus Towers is the largest tower company in the country with over 1,10,000 towers in its portfolio.
Old is Gold: Ponds to take on Olay India’s largest consumer products company, HUL, is set to counter P&G’s anti-ageing cream, Olay. HUL is launching more than half-a-dozen premium products from the Ponds Gold Radiance portfolio. Anti-ageing segment accounts for 10% of the total skin care market. In Sept, Ponds had a 16.5% share, Garnier 18.9% share.
Contd… Olay with 36.7% share tops the anti-ageing segent. Ponds Gold Radiance, priced between Rs. 500-Rs.1,000 will be most expensive brand in HUL’s skin care portfolio, a business that is the most profitable segment for the company. Skin care segment is worth of Rs. 3500 crore. HUL is the market leader controlling over half the market with popular mass brands such as Fair & Lovely and Vaseline.
RBI doubles online money transfer limit via RTGS to Rs 2 lakh Present limit is Rs 1 lakh. New limit will come into effect from Nov 15 onwards. The RTGS system facilitates high-value transfers of money from one bank to another on a real-time and gross basis. On an average, the central bank handles around 60,000 RTGS and around 50,00,000 cheque clearing transactions per day. For electronic transactions valued between Rs 1-2 lakh, the RBI has created a new value band in its 'near real-time' National Electronic Fund Transfer (NEFT) system to cater to retail bank customers.
Contd… Fund transfers up to Rs 1 lakh through the NEFT mode, will continue to attract a service charge of Rs 5. For fund transfers valued between above Rs 1 lakh and Rs 2 lakh, the RBI has revised the customer charges downward to Rs 15 from Rs 25 earlier. The fee for fund transfers worth more than Rs 2 lakh remains unchanged at Rs 25. The NEFT has been a highly successful service ever since it was launched in late 2005. More than 60 lakh transactions are estimated to take place every month through this route.