Top brands cut prices by up to 30% this festive season amid rising competition and weak demand.
A positive start to the Diwali sales period has assuaged concerns that the slowdown would hit consumption.
Jaina Group, which has 24 years license for the Sansui brand for India, Bangladesh and Sri Lanka markets, is going to invest around Rs 500 crore for a plant near Gurugram.
The RP Sanjiv Goenka Group's retail flagship Spencer's Retail in May acquired the premium Nature's Basket chain from the Godrej Group for about Rs 300 crore.
The pricing pressure is more in 32 inches and below screen sizes, while at the same time, consumers prefer larger screen sizes.
Amazon has now started exploratory talks with Landmark group’s value fashion retail chain, Max, for acquiring a similar minority stake in it.
They are increasing promotional spends in the upcoming festive season by 10-15% over last year’s festive quarter and stocking up additional inventory, executives in some large FMCG companies told ET.
Move will help India achieve $190-billion handsets manufacturing target: ICEA
Companies like LG, Dixon and Super Plastronics also indicated that they will expand their investment for manufacturing capacity and add newer categories for production.
The fulfilment centres in West Bengal will cater to categories such as smartphones, consumer electronics, appliances, fashion and FMCG.
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