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In its effort to go one up on Flipkart, Amazon pumps in record capital into its India unit

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In its effort to go one up on Flipkart, Amazon pumps in record capital into its India unit

In its effort to race past larger domestic rival Flipkart, Amazon has pumped record capital into its main India unit this financial year.

With the latest infusion of Rs 1,950 crore, this exercise has added crucial firepower as the global online retail giant accelerates towards its goal.


Overall, Amazon Seller Services has received Rs 8,150 crore (about $1.3 billion) so far in 2017-18 from its US parent as per filings submitted with the Registrar of Companies. The latest capital infusion is the fourth such exercise.

The frequent capital infusions indicate Amazon India’s increased spending, or cash burn, towards acquiring new customers and growing market share.

The online marketplace is burning through $120 million every month, $75 million on ecommerce and $45 million on its subscription service Prime. This is higher than its average monthly cash burn rate of $80-100 million in 2016, it is understood.

Walmart Stores Inc inches towards acquiring Flipkart

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Walmart Stores Inc inches towards acquiring Flipkart

Walmart Stores Inc, the world’s biggest retailer, is in advanced talks to acquire a significant minority stake in leading ecommerce marketplace Flipkart, it is understood. A deal regarding the matter could be finalised by March.

It is said that Walmart’s chief executive officer Doug McMillon led a delegation to Flipkart’s Bengaluru office early last week as part of this exercise.

The other members of the team included Walmart ecommerce CEO Marc Lore, founder of Jet-.com that was acquired by Walmart in 2016 and Judith McKenna, who has taken over as president and CEO of Walmart International on February 1. Earlier, she was chief operating officer of Walmart.

Neither Walmart  or Flipkart commented on the going ons.”As a policy, we don’t comment on market speculation” was the comment that both the companies came out with.

China, India are Apple’s growth market: Report

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China, India are Apple’s growth market: Report

Apple (AAPL) has reported its first-quarter fiscal 2018 results on Feb 1. Courtesy of a robust product portfolio that is driving subscriber base expansion The services segment is expected to be the key catalyst.

Apple’s Services segment includes revenues from Internet Services, App store, Apple Music, Apple Care, Apple Pay, licensing and other services. In fourth-quarter fiscal 2017, segment revenues jumped 34% year over year to $8.5 billion.

Much of the growth comes from App Store, which has more than 210 million subscribers. The App Store reported strong sales during the week which began on Christmas Eve, with customers spending more than $890 million. This is likely to drive the top line growth in the soon-to-be-reported quarter.

Apple Music has witnessed phenomenal growth with over 30 million subscribers. The acquisition of music recognition app Shazam allows Apple to offer features like television show recognition and augmented reality (AR) brand marketing service to App store users.

According to  the report, China is one of Apple’s biggest markets. In the fourth quarter, the company saw improvement in iPhone, Mac, iPad and Services segment in the region, leading to a 12% increase in revenues to $9.8 billion. This represented 16% of total revenues, after Americas (44%) and Europe (25%).

Apple ramped up investment in the country. According to  sources, the company has collaborated with local Internet services companies to establish its first data center in China. This was to ensure compliance with the country’s newly implemented cyber-security regulations.

Apple also appointed Isabel Ge Mahe to the newly-created post of vice president and managing director of Greater China. The creation of the post of managing director for China operations also underscores the importance of the market.

However, anticipated slower iPhone X sales along with stiff competition from the likes of Oppo, Vivo and Xiaomi can hurt the company’s top line.

Apple remains keen on India as it is predicted to become the second largest smartphone market.  In the last reported quarter, Apple sales in India doubled year over year.

The company has partnered with Reliance Jio and Bharti Airtel in the country and has also set up its first manufacturing unit in Bangalore, Karnataka. The company has teamed up with Wistron Corp. from Taiwan to take care of the assembly of the iPhones, mostly SE models.

Quess Corp acquires Monster.com and HCL Infosystems

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Quess Corp acquires Monster.com and HCL Infosystems

Quess Corp, the ‘business services’ subsidiary of Thomas Cook India, has announced two major acquisitions after purchasing the Asia business of Monster.com and the Indian service center business of HCL Infosystems.

The deal involves purchasing 100% of the Monster business in India, Singapore and Hong Kong and 49% of the Malaysia unit.

Quess Corp will pay up to Rs 30 cr for the service center business of HCL Infosystems.

The Monster deal was announced overnight in the US market by monster.com. The US company said Quess Corp will license the brand name from it.

However, it did not disclose the consideration for the monster.com business but said the ‘enterprise value’ of the purchased business has been taken to be up to $14 mln (Rs 90 cr).

Enterprise value is an estimate of the value of the company for all stakeholders including its creditors and its shareholders.

“The acquisition of Monster is aligned with our ‘Digital First strategy for Business’ and is a strategic investment in that direction whereas the acquisition of Care Business marks our entry into the high growth break-fix market for smart phones, consumer electronics and consumer durables with Pan India presence,” said Ajit Isaac, Chairman and Managing Director of Quess Corp.

The move could increase competition for Info Edge India Ltd, which operates India’s largest job portal naukri.com.

Quess Corp also said it would take over the service center business of HCL Infosystems, which, at one time, used to have the monopoly for running Nokia service centers in India.

The business, being purchased for Rs 30 cr, involves 80 walk-in centers and over 200 authorized service providers. It has a total employee strength of 1,400 and had revenue of Rs 191 cr in the year ended March 2017.

 

 

BrewDog takes a sip of that market winning a trademark dispute against Elvis Presley’s estate

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BrewDog takes a sip of that market winning a trademark dispute against Elvis Presley’s estate

Elvis Presley’s estate has lost a trademark dispute with the makers of a British craft beer in a case that started in October 2016.

The King looks to be back in the building for beer company Brewdog, which has won the right to use the name ‘Elvis Juice’ for one of its products.

BrewDog launched the drink, a grapefruit-flavored IPA (or India Pale Ale) in 2015 and claims that it is the U.K.’s third best-selling craft beer.

But in 2016 Authentic Brands Group (ABG), which manages Elvis Presley’s name and official events, wrote to founders James Watt and Martin Dickie instructing them not to use it.

The pair responded by changing their first names to ‘Elvis’ by deed poll, in the hope that doing so would demonstrate the lack of exclusivity of the name Elvis. But the U.K.’s Intellectual Property Office (UKIPO) ruled in favor of ABG last July, saying it was likely that drinkers would think the beer was an official product.

After an appeal, that decision has been overturned. “Put simply, the common element of Elvis is not enough on its own to make consumers think there is a link between the mark Elvis and Brewdog Elvis Juice,” according to the decision document by the UKIPO’s Phillip Johnson, seen by CNBC.

Watt said in an online statement: “This is a victory for common sense … This is a vindication of our belief in freedom and our dogged decision to appeal the initial ruling, and not go gently into the night.”

Brewdog is celebrating by giving away a free drink to fans that turn up at one of its bars dressed as Elvis this weekend.

Weyco Group to make and sell Florsheim brand of shoes in India

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Weyco Group to make and sell Florsheim brand of shoes in India

American footwear firm Weyco Group has signed a licensing deal with Samar Lifestyle to exclusively make and sell its Florsheim brand of shoes in India and some neighbouring markets such as Pakistan and Bangladesh.

The firm also plans to increase sourcing from India, the second largest producer of footwear after China, with annual production of about 2.1 billion pairs.

Samar Lifestyle, part of Bengaluru-based Sara Group, plans to open at least 25 flagship Florsheim stores in the next five years, it is understood.

“Last year, we sold 30,000 pairs of shoes and we hope to grow six times by 2022,” said Tom Florsheim Jr, chairman of Weyco Group. “India is number one on our list in terms of opportunity,” he said.

“India already accounts for nearly 20% or about a million pairs of our global sourcing which could double in the next few years,” Florsheim added.

Weyco Group, which owns a number of footwear brands including Nunn Bush, Stacy Adams and Rafters, has been selling Florsheim in India for more than two decades through Chennai-based distributor KAR Group.

Samar Lifestyle, which is already present in the footwear segment with Ruosh and Attilio brands, targets annual sales of Rs 1,500 crore by 2022, from about Rs 200 crore now, through a slew of franchisee arrangements with global lifestyle brands.

 

SPTN and UNF launch Picture This Festival

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SPTN and UNF launch Picture This Festival

Sony Pictures Television Networks (SPTN) and the United Nations Foundation (UNF)have launched the Picture This Festival. The short-film competition will be open to emerging filmmakers, everyday storytellers and change makers from more than 70 countries offering their positive visions of the planet’s future.

Starting January 30, creators have been asked to submit videos between one and eight minutes in length. They should be inspired by the Sustainable Development Goals backed by all 193 member states of the United Nations to end poverty, protect the planet and promote prosperity for all. The deadline for submissions, which do not require a fee, is April 30.

“At Sony, we are proud champions of the intersection between storytelling and innovation and are incredibly excited to spearhead Picture This,” said Andy Kaplan, President, Sony Pictures Television Networks. “With the support of the United Nations Foundation and our other partners, we look forward to elevating and amplifying these important development goals through the voices of emerging creatives and acknowledge their good work in a meaningful way,” he added.

Partners in the festival this year include the United Nations Foundation, the United Nations Association of the United States of America, WeTransfer, Sony World Photography Awards, Sony Alpha Universe and the Environmental Media Association.

Here, it may be noted that SPTN launched a similar contest in 2016 across its channel portfolio worldwide, including its flagship brands AXN, Sony Channel, Crackle and Animax, all of which will participate in this year’s festival.

TV 18 to take operational control of Viacom 18

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TV 18 to take operational control of Viacom 18

 

TV18 Broadcast and Viacom Inc, joint-venture partners in Viacom18 Media, have decided that TV18 shall take operational control of Viacom18. In the bargain, TV18 shall raise its stake to 51 per cent by acquiring 1 per cent of Viacom18’s equity from Viacom Inc. for a cash consideration of $20 mn.

The brands and content licence agreement between Viacom Inc. and Viacom18 will also be extended by 10 years. As per a press note, Viacom will continue to hold 49 per cent in Viacom18 and shares TV18’s vision for scalability and enhanced efficiency at Viacom18.

Said Adil Zainulbhai, chairman, Network18, “The transaction further enables our vision for Viacom18 to accentuate its focus on excellence and integration in the broadcast and digital space. The entertainment powerhouse continues to be bolstered by Viacom’s global expertise in content creation and curation along with the Network18 group’s and affiliates’ strength across the media and telecom value-chain”

David Lynn, CEO, Viacom International Media Networks, says, “Viacom18 is one of the fastest growing companies in India’s dynamic media and technology sector and, as a result of this transaction, we believe it will be even better-positioned for accelerated growth through closer integration and alignment with the Network 18 Group and its affiliates, including India’s fastest growing mobile network, Jio. Viacom remains strongly committed to our Viacom18 joint-venture with the Network 18 Group and we are retaining the vast majority of our ownership stake in the company. We’re delighted to extend our licencing deal with Viacom18 and see clear potential to expand it in live events and recreation, in line with our growing global presence in these lines of business.”

Indian Hotels in plans to enter branded homes business

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Indian Hotels in plans to enter branded homes business

 

Following the example of global companies like Four Seasons, Ritz Carlton and Grand Hyatt that lend their brands and provide hospitality services to luxury homes across the world, Indian Hotels Co. Ltd (IHCL), the operator of the Taj chain of hotels, is in plans to enter the branded homes business.

The Tata group firm is in talks with Kathmandu-based Chaudhary Group (CG) to set up a residential project under the Taj brand in Colombo where both the companies jointly own over 10 acres of land, it is understood.

IHCL already operates a 300-room luxury hotel Taj Samudra in the Sri Lankan capital. The new high-end residential development is likely to come up within the same premises, said one of the two people mentioned above.

The CG group has entered into an in-principle agreement with Taj group to build a residential development within the same Taj Samudra premise. Discussions are currently on over the Taj brand name, number of apartments and price of the apartments.

CG and IHCL jointly operate three luxury hotels under the Taj brand in Sri Lanka and the Maldives. Two more Taj hotels are being developed in Nepal and Thailand.

According to information available on the company’s website, IHCL owns around 900 acres of land in total across 26 cities in India.

Copyright Royalty Board of the U.S. increases royalty rate for streaming services

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Copyright Royalty Board of the U.S. increases royalty rate for streaming services

The Copyright Royalty Board of the U.S. Library of Congress that decides on the licensing fees paid by streaming services to artists (and their publishers)  has increased the royalty rate from 10.5% to 15.1% of total revenues for the five-year period from 2018 to 2022, it is reported. As a result of the change, the rates paid by Spotify, Apple, Pandora, Amazon, Google, and others will increase.

Speaking on the same, David Israelite, President and CEO of the National Music Publishers’ Association characterized the change as both “the most favorable balance in the history of the industry” and “not a fair split.”

Streaming services rely on the compulsory license established under U.S. law rather than negotiate directly with publishers. For comparison, Netflix and Amazon must negotiate with studios for the use of programs, which is why their catalogues are not ‘all-inclusive’ in the way that music streaming services are.

An additional late fee for insufficiently timely payments has also been added, though the exact terms of this have yet to be disclosed. Due to this change, it can be said that this may have a knock-on effect resulting in the subscription fees for these services to increase.

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