MAM

CCI approves 16$ bn acquisition of Flipkart by Walmart

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2018/08/09/flipkart.jpg?itok=Ni-HUZW0

MUMBAI: The Competition Commission of India (CCI) has approved American retail giant Walmart’s $16 billion acquisition of online marketplace Flipkart. In May, Walmart acquired a 77 per cent stake in Indian e-commerce company.

With this, Walmart will compete directly with Amazon India in the fast growing e-commerce market. 

This is the biggest deal for India’s e-commerce sector, which is estimated to grow close to an annual $200 billion in 10 years. The acquisition will give Walmart a strong foothold in Asia’s third largest economy where the company has struggled to expand due to restrictions on foreign investment in retail stores

In a Twitter post, the CCI has given a heads up to the proposed acquisition of Flipkart by Walmart. The board, in its order, also added that the issue of Flipkart’s discounting practices would be dealt with separately in the upcoming e-commerce policy. 

The regulatory board also mentioned that the discounting practices by Flipkart may have to be reviewed by the relevant authorities, which will put pressure on regulators to clamp down on discounts on online platforms. 

Responding to CCI’s approval, Walmart said that the company is committed to contributing to the Indian economy by supporting farmers, businesses run by women in India and small and medium suppliers. 

The statement read: Flipkart is a prominent player in India with a strong, entrepreneurial leadership team that is a good cultural fit with Walmart.

Soon after the CCI’s approval on the deal, local trader body, Confederation of All India Traders (CAIT) opposed the Flipkart-Walmart deal on the ground that the acquisition will create unfair competition and drive local convenience stores out of business. 

CAIT’s secretary general Praveen Khandelwal said to Reuters, “We will certainly move the court against the CCI’s decision. CAIT has called an emergency meeting of its governing council on August 19 at Nagpur, where we will finalise our strategy for a nationwide movement.”

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/01/22/img_22012022_170458_800_x_800_pixel.jpg?itok=sQeQLelQ
RepIndia bags digital and creative mandate for Sleepwell

Mumbai: Sheela Foam Ltd's consumer-facing brand Sleepwell has announced the appointment of the independent agency RepIndia as its mainline agency for brand communication for all brands and categories under the Sleepwell brand umbrella. 

MAM Media and Advertising Account
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/01/22/img_22012022_122530_800_x_800_pixel.jpg?itok=UTp7dkeX
GUEST COLUMN: The harm that good ads do

Mumbai: If you want to greet somebody in the morning, two things are essential. First, you have to say ‘Good Morning,’ not ‘Good Night’ or ‘Good Afternoon.' And second, you should say it pleasantly. If this combination goes haywire, you won’t get the other person to say ‘Good Morning’ to you, and...

MAM Marketing MAM
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/01/22/img_22012022_115937_800_x_800_pixel.jpg?itok=AFKTTny3
HUL top advertiser in week 2: Barc

Mumbai: Maintaining lead in the second week of 2022 (8-14 January), Hindustan Lever Ltd (HUL) delivered ad volumes of 4010.93, as per Barc data. Reckitt Benckiser India was second at 3187.2 (‘000s). Ponds India finished third with ad volumes of 995.42 Brooke Bond Lipton India, Cadburys India, ITC...

MAM Marketing MAM
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/01/21/img_21012022_185809_800_x_800_pixel.jpg?itok=O11OH6SV
Adani Wilmar IPO to open on 27 January

Mumbai: Edible oil major Adani Wilmar Ltd has announced that it will open for public subscription next week on 27 January and conclude on 31 January.  The price band of the issue has been fixed at Rs 218 to Rs 230 per equity share of the face value of one rupee each for its Rs 3,600 crore initial...

MAM Marketing MAM
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/01/21/img_21012022_180503_800_x_800_pixel.jpg?itok=mRYczbc3
Oyo launches new campaign capturing pulse of today’s travellers

Mumbai: Hotel booking platform Oyo has launched a multi-film brand campaign that will be visible across television, social media, OTT platforms, etc through January and February. The brand film features Bollywood actors such as Gul Panag, Kalki Koechlin, Chitrangada Singh and Kunal Kapoor, who...

MAM Media and Advertising Ad Campaigns
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/01/21/img_21012022_150338_800_x_800_pixel.jpg?itok=MlqwjZX0
ET Medialabs bags performance branding mandate for Kapiva

Mumbai: Growth marketing and analytics company ET MediaLabs has announced its collaboration with Kapiva, a modern Ayurvedic D2C nutrition brand. The association will strengthen Kapiva’s performance branding services with an aim to build awareness and eventually amplify and retain the loyal customer...

MAM Media and Advertising Account
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/01/21/img_21012022_124651_800_x_800_pixel.jpg?itok=aln8GlJK
TBO Tek rebrands itself as tbo.com

Mumbai: Global travel distribution platform tbo.com has unveiled its new expression of customer-centric brand name, logo, tagline and brand identity as TBO.com. The customer-centric brand name along with the tagline is now: tbo.com -Travel Simplified.

MAM Marketing MAM
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/01/21/img_21012022_123215_800_x_800_pixel.jpg?itok=Y8XjYMx8
Bira 91 partners with boAt to launch 'Boom' audio collection

Mumbai: Bira 91 and earwear brand boAt have come together to launch an exclusive ‘Boom’ limited-edition collection of audio devices. The 'Boom' collection will be available exclusively on Bira 91’s Merch store and the boAt website starting 20 January.

MAM Marketing MAM
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/01/21/img_21012022_120419_800_x_800_pixel.jpg?itok=8zcjGkru
Shauvik Ghosh joins KnowledgeHut as PR & communications head

Mumbai: KnowledgeHut, a Bangalore-based short-duration skills provider has appointed Shauvik Ghosh as head of PR and corporate communications. The appointment is part of the ed-tech start-up's plans to aggressively expand its business and drive growth in its business across its domestic and...

MAM Media and Advertising People

Sign up for our Newsletter

subscribe for latest stories

* indicates required