Sunil Bharti Mittal-led conglomerate Bharti Enterprises and private equity firm Warburg Pincus will collectively acquire a 49 per cent stake in Haier Appliances India, the local unit of China's Shandong-based Haier group, for an undisclosed amount. The transaction, according to industry sources, values the company at about 15,000 crore.
Haier's latest H5E range arrives in four sizes: 43-inch, 50-inch, 55-inch and 65-inch.
Prices of televisions are expected to rise by 3-4 per cent from January next year on account of the rising cost of memory chips and depreciation of the rupee, which recently crossed the 90-to-a-dollar mark for the first time.
The festival season has already begun in the west and south of India with Ganesh Chaturthi and Onam, respectively, and consumer companies are witnessing a pick-up in sales compared to pre-Covid levels. Retailers, fast-moving consumer goods (FMCG) and consumer durables companies expect their sales to grow in double digits this festival season compared to pre-pandemic times, as there are no curbs on movement now. Adani Wilmar expects sales volume to be higher by 15-20 per cent as rural India has largely witnessed good monsoon rains, and employment has picked up in urban areas.
With bouyant demand in domestic market, increasing exports, the co would need to set up a second manufacturing plant in about three years.
Chinese consumer electronics firm Haier has taken the wholly owned subsidiary route to return to India, about two years after the distribution alliance with a local partner was terminated.
Haier Appliances (India) Pvt Ltd, a wholly owned subsidiary of Chinese white goods major Haier Technology, is planning to enter the Indian market in a big way by launching models across various product categories.
The latest hike is likely to be followed by another such move next month, said industry players. Before the latest hike, companies had initiated price hikes to the tune of 12-13 per cent in 2021 but they weren't able to fully cover the increase in costs.
This growth seen by the consumer goods was led mainly by the durables market, which rose 17.6%, the highest in 11 months
Durable goods companies and retailers say online sales won't compensate for the fall in offline sales.
Almost 40 per cent of a durable company's sales are achieved during the festival season
Fridge, washing machine, and paint makers are expected to cut prices shortly, while TV, aircon, and sanitary napkin makers are a disappointed lot
Typically, about four to six weeks ahead of the polls, activity in the property market picks up as politicians begin to pull out their money parked in real estate. But this time, it's all quiet till now in real estate so far.
Double whammy for consumer firms, where the top line will remain subdued due to demonetisation and margins will squeeze owing to a crude oil spike and rupee depreciation, reports Viveat Susan Pinto/Business Standard from Mumbai.
Home and kitchen appliances, electronic products, apparel and B-segment cars stand to gain.
India-Pak face-off saw brands pay up to Rs 20 lakh in last-minute spot buying.
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