Masses are coming: A growing challenge threatens India's big FMCG companies
Local brands in India are growing faster than national brands in the fast-moving consumer goods (FMCG) sector due to a slowdown in inflation. India's consumer demographics are also shifting, driving growth in the sector. A recent Redseer survey revealed a large proportion of Indian consumers are willing to buy unbranded products. The "mass" class, which is set to underpin India's retail industry, focuses on value for money, and is increasingly purchasing online.
Reliance confirms Milkbasket merger with JioMart; rubbishes reports of layoffs
As per media reports, about 25-30 per cent of Milkbasket's staff (around 600 employees) have been laid off over the last few months. While ETRetail directly could not confirm the size of layoffs, sources aware of the matter said that these layoffs include the entire offline marketing, sales, and head office teams.
NCLAT to decide over NCLT order on insolvency against Coffee Day Global
The application, seeking a stay on the NCLT order, was listed for hearing before a NCLAT bench comprising Justice Rakesh Kumar Jain and Shreesha Merla on Friday. Earlier on July 20, the Bengaluru bench of the NCLT passed an order over a plea filed by IndusInd Bank, a financial creditor of the company, claiming dues of Rs 94 crore.
