2. Reliance Brands sets up JV with Italian luxury menswear co Reliance has set up a joint venture with Italy's ErmenegildoZegnaGroup. ErmenegildoZegna Group will be holding 51 % and Reliance Brands 49%. Through this JV, the company aims to ramp-up the operations and create a national footprint to capture the potential of the Indian luxury market.
3. Contd… ErmenegildoZegna Group has been present in India since 2003. It was one of the first global luxury brands to get FDI approval for mono-brand retail following liberalisation by the Indian Government.
4. P&G takes 20% price cut, J&J may follow suit Procter & Gamble India (P&G) has decided to cut prices of select products even as input costs have started pinching. With P&G is taking a price cut, rival Johnson & Johnson may also follow suit, leading to a price war of sorts. The penetration of feminine hygiene products in India is 12% as compared to 64% in China.
5. Railways to introduce five-digit train numbering Passengers booking tickets in Mail and Express trains need to add prefix 1 before the existing four-digit numbers while checking the reservation position through the enquiry system. This has been done to bring uniformity and logical basis for numbering of trains. The new five-digit numbering system will be effective from December this year.
6. Jet Airways retains No. 1 spot on domestic circuit Jet Airways and Kingfisher Airlines have retained their leadership positions in the domestic aviation industry in August. Jet Airways and its no-frills arm JetLite enjoyed a combined 26% share while Kingfisher Airlines had a 20% market share, Air India had18% market share. Load factors for domestic airliners dropped to 72.5% in August from about 76% in July this year.
7. Metro Cash & Carry to open centers in Punjab Germany-based Metro Cash & Carry will make its wholesale distribution centers at Zirakpur and Ludhiana operational by mid-2011. These centers would focus on agriculture and employment generation in allied farming thus, contributing to the development of the state. CEO of Metro: Frans Muller
