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India's diversified entity <keyword id="19896958" type="General" weightage="20" keywordseo="ITC" source="keywords" meta.keywordsubtype="org" meta.entityname="ITC" meta.hostid="153" meta.entityid="ITC">ITC</keyword> plans to open more hotels overseas with neighbouring countries and the Middle East as primary target markets after opening of its first international property here, company Chairman and Managing Director <keyword id="20049280" type="General" weightage="20" keywordseo="Sanjiv-Puri" source="keywords">Sanjiv Puri</keyword> said on Thursday. The company's arm <keyword id="20032522" type="General" weightage="20" keywordseo="ITC-Hotels" source="keywords" meta.keywordsubtype="org" meta.entityname="ITC Hotels" meta.hostid="153" meta.entityid="ITC Hotels">ITC Hotels</keyword>, which had opened 22 new properties in the last 24 months, plans to add another 70 hotels in the next five years in India as part of expansion plans in the <keyword id="20402233" type="General" weightage="20" keywordseo="hospitality-sector" source="keywords">hospitality sector</keyword>. Besides the hotels business, the company will look for opportunities to expand the presence of <keyword id="19931572" type="General" weightage="20" keywordseo="FMCG" source="keywords" meta.keywordsubtype="org" meta.entityname="FMCG" meta.hostid="153" meta.entityid="FMCG">FMCG</keyword> and other verticals in new overseas markets as well. "We are open to exploring opportunities that come about. I think we have strong credentials in hospitality which we can take outside India now. Very clearly at the moment the focus is on proximal markets, be it for hospitality, be it for FMCG...," Puri said here at a press conference after the opening of the 352-room luxury property, <keyword id="20911944" type="General" weightage="20" keywordseo="itc-ratnadipa" source="keywords">ITC Ratnadipa</keyword> here. He said as the company explores and understands a place for a particular business, it may look at it as a market for other verticals as well. Citing the example of Nepal, Puri said,"We started with other businesses and are now looking at hospitality (there). Here (in Sri Lanka) we have started with hospitality...as we explore and understand the place, we will look at possibilities in some of our other sectors as well." On overseas expansion of the hospitality business, while the company's focus is more on 'proximal markets', he said,"We are open to it if there are some interesting opportunities beyond it. We will certainly be interested in pursuing that." When asked if ITC is looking at the Middle East as a market for the hospitality business, he said it is a vibrant economy right now with terrific growth plans and "if opportunity comes our way then we will certainly explore that". Puri also said the company will look to expand in more destinations in Sri Lanka going forward. "This (opening of ITC Ratnadipa) is the starting point and yes, we want to expand and grow the economy and contribute to the development of tourism in Sri Lanka," he said. When asked about ITC's overall expansion plans in the hospitality sector, he said,"We have a very healthy pipeline of 70 hotels in five years." All these 70 hotels are for the Indian domestic market and most of them will be the upscale segments. He, however, said "(For) overseas we're just starting our journey. So we have not yet got to the stage to start putting a number right here." On investments planned for the overall expansion, he did not share a specific number but said "between renovation and new properties will spend somewhere between Rs 700 crore to Rs 1,000 crore a year". When asked about the progress of the demerger of ITC Hotels and its planned public listing, Puri said it is happening in line with the indicated timelines and is expected "before the second half of this year or the end of this year". At its new property here, the company had invested about USD 500 million. It was inaugurated on Thursday by Sri Lankan President Ranil Wickremesinghe. The ITC Ratnadipa or 'Island of Gems' has 352 guest rooms, suites and service apartments, each with private balconies with waterfront views. Earlier in the day, speaking at the opening of the new hotel, Puri said,"It is very natural for us to specifically focus on markets in proximal areas, encouraged also by our Prime Minister's (Narendra Modi) vision of neighbourhood first where Sri Lanka has a very special position. ITC is deeply committed to growing our presence and contributing to hospitality in the region." SEE ALSO:<a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a><a href="https://www.businessinsider.in/tech/mobile/news/realme-narzo-70-narzo-70x-5g-smartphones-launched-in-india-starting-at-11999/articleshow/109557895.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-narzo-70-narzo-70x-5g-smartphones-launched-in-india-starting-at-11999/articleshow/109557895.cms" target="_blank">Realme Narzo 70, Narzo 70X 5G smartphones launched in India starting at ₹11,999</a><a href="https://www.businessinsider.in/tech/news/apple-let-loose-event-scheduled-for-may-7-ipads-expected-to-be-launched/articleshow/109553148.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/apple-let-loose-event-scheduled-for-may-7-ipads-expected-to-be-launched/articleshow/109553148.cms" target="_blank">Apple Let Loose event scheduled for May 7 – New iPad models expected to be launched</a>

ITC plans to open more hotels overseas: CMD Sanjiv Puri

<keyword id="166964" type="General" weightage="80" keywordseo="itc-hotels" source="Orion">ITC Hotels</keyword> announced the signing of a <keyword id="1869154" type="General" weightage="80" keywordseo="welcomhotel" source="Orion">Welcomhotel</keyword> in <keyword id="6357621" type="General" weightage="80" keywordseo="jabalpur" source="Orion">Jabalpur</keyword> under a management contract with A.R.V. <keyword id="6368036" type="General" weightage="100" keywordseo="hotels" source="Orion">Hotels</keyword> Private Limited. <keyword id="15307506" type="General" weightage="50" keywordseo="welcomhotel-jabalpur" source="Orion">Welcomhotel Jabalpur</keyword> will offer 124 rooms, more than 15,000 sq. ft. of banquet space along with two restaurants, a swimming pool, a spa and a fitness centre. Located at Sagra, the property is just 6 km away from the popular tourist spot Bhedaghat, while also being accessible to the IT Park (1.5 km), Jabalpur Junction Station (11 km) and Jabalpur Airport (24 km). Anil Chadha, Divisional Chief Executive, ITC Hotels said: "Welcomhotels are on a high growth trajectory, both in business and leisure destinations. We are excited to bring the Welcomhotel brand from the ITC Hotels group to Madhya Pradesh. Jabalpur offers a healthy mix of commercial, trading, government and leisure-oriented business opportunities and has become a key administrative and business centre for the state. The significant meeting and banquet space backed by ITC Hotels' renowned strength in food and beverage and hospitality service will impart Welcomhotel Jabalpur an edge in the market." Rajesh Kumar Jain, Managing Director, A.R.V. Hotels Private Limited, stated: "We are excited to be partnering with ITC Hotels to bring the Welcomhotel brand to Jabalpur. With ample tourism potential around the city, I believe that this hotel will give Jabalpur the necessary boost to attract more demand here." Navanshu Jain, Director, A.R.V. Hotels Private Limited, said: "I have been fond of ITC Hotels when I travel across India and have always felt a strong connection with the brand. I am sure the people of Jabalpur will feel the same warmth about our upcoming property." Designed for those who demand more to make the most out of their stay, Welcomhotel by ITC Hotels is the new age traveller's key to curated immersive experiences that enrich both business and leisure journeys. With an endeavour to provide enriching experiences, the Welcomhotel by ITC Hotels brand is reflective of the warmth of Indian culture while upholding the benchmark service standards that ITC Hotels are known for. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/uber-launches-its-advertising-division-to-showcase-ads-during-rides/articleshow/94980361.cms">Uber launches its advertising division to showcase ads during rides</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-transmission-bags-project-from-best-to-install-over-1-million-smart-meters-in-mumbai/articleshow/94982223.cms">Adani Transmission bags project from BEST to install over 1 million smart meters in Mumbai</a>

ITC Hotels signs Welcomhotel Jabalpur

<ul><li><keyword id="6357073" type="General" weightage="20" keywordseo="itc" source="Orion">ITC</keyword> believes that the Indian agriculture sector is “seriously threatened” by climate change and it needs attention.</li><li>It adopted a multi-pronged strategy to overcome the challenges, while increasing its profitability.</li><li>The company’s advisory app for farmers called Maars has a big role to play.</li></ul>The Indian agriculture sector is ‘seriously’ threatened by climate change and population explosion, and this calls for a higher level of production, ITC’s chairperson and MD Sanjiv Puri said. With that being said, ITC adopted a multi-pronged strategy to overcome the challenges put forth by the Indian agriculture sector. ITC believes that a strategic focus on value-added crops, its advisory app for farmers <keyword id="14508487" type="General" weightage="20" keywordseo="itc-maars" source="Orion">ITC MAARS</keyword> and climate smart agriculture will drive new vectors to sustain growth and profitability in this area. Notably, ITC’s agri-business sources over 40 lakh tonnes of agri-commodities from 22 Indian states and 20 agri-value chains. It also exports to over 95 countries across the globe. In an annual general meeting held on Wednesday morning, Puri emphasized that agriculture productivity and incomes today are seriously threatened by climate change and depleting natural resources. The rising populations have been making the issue worse as the demand for food is increasing. “ITC is committed to make a meaningful contribution to this new era of agricultural transformation,” Puri added during the AGM. ITC believes that the current situation calls for higher levels of production, building of competitive agri value chains, crop diversification to value-added products and scaling up of food processing to serve emerging consumer needs. <cmsannotation type="cmsannotation" annotationid="ITC’s MAARS app for farmers has a big role to play in it" comment="subhead" text="ITC’s MAARS app for farmers has a big role to play in it">ITC’s MAARS app for farmers has a big role to play in it</cmsannotation> To meet the target, the company will be focusing on accelerating adoption of advanced technologies through ITC MAARS. This will enable ITC to create a new and scalable revenue stream while benefiting farmers, Puri emphasised. ITC launched the MAARS app a few months back to offer artificial intelligence/machine learning (AI/ML)-driven personalised and hyperlocal crop advisories to farmers. It also provides access to quality inputs and market linkages as well as allied services like pre-approved loans. Puri added that the app has the potential to become a “considerable segment” of ITC’s agri-business, and is currently accessible by 40,000 farmers grouped into over 200 Farmers Producer Organizations (FPO) across seven states. “At the core, is your company's endeavour to restructure the backend into a robust network of vibrant FPOs to aggregate farmer effort and enhance efficiencies,” he said. ITC aims to engage and empower 4,000 FPOs, consisting of a crore farmers, over time. Puri emphasised that although nearly half of the country's workforce is dependent on the agriculture sector, it contributes to less than 19% of the country's gross value added (GVA). This reflects the challenges of low productivity, investments and incomes. “The opportunities arising out of India's growth story have also encouraged us to invest in five new manufacturing facilities that will be commissioned in the near term in areas such as agri and food processing, as well as packaging, among others. These assets are deeply aligned to the country's 'Make in India' and 'Digital India' vision as well as to the endeavours to 'Double Farmers' Income',” Puri said. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/fpi-selling-intensity-abates-in-july-as-global-macros-improve-commodity-prices-cool/articleshow/93003529.cms">FPI selling intensity abates in July, as global macros improve &amp; commodity prices cool</a> <a href="https://www.businessinsider.in/business/corporates/news/wipros-net-profit-drops-12-drop-in-q1-as-recession-fears-grip-its-non-us-clients/articleshow/93006573.cms">Wipro’s net profit drops 12% drop in Q1 as recession fears grip its non-US clients</a> <a href="https://www.businessinsider.in/business/corporates/news/hindustan-unilevers-resurgent-quarter-signals-demand-recovery-later-this-year/articleshow/93004051.cms">Hindustan Unilever’s resurgent quarter signals demand recovery later this year – brokerages bullish</a>

ITC is relying on its advisory app for farmers, valued-added crops to grow its agri-business

<ul><li>
ITC's new chocolate, the Fabelle's Trinity - Truffles Extraordinaire, costs ₹1 lakh.</li><li>According to the Guinness World Records, it is now the <keyword id="8247247" type="UNKNOWN" weightage="20" keywordseo="most-expensive-chocolate-in-the-world">most expensive chocolate in the world</keyword>.</li><li>The company co-created the chocolate with Michelin Star chef, <keyword id="8247251" type="UNKNOWN" weightage="20" keywordseo="philippe-conticini">Philippe Conticini</keyword>.</li></ul>Indian Tobacco Company’s chocolate brand Fabelle Exquisite Chocolates, made it to the Guinness World Records for making the world’s most <keyword id="8247249" type="UNKNOWN" weightage="20" keywordseo="expensive-chocolate">expensive chocolate</keyword>. Unveiled in Mumbai today, Fabelle’s Trinity — Truffles Extraordinaire, costs a whopping ₹1 lakh. 
 
 <div type="image" title="choco2" msid="71703871" hostid="261" caption="&amp;lt;p&amp;gt;The three types of chocolate that come in the box&amp;lt;/p&amp;gt;"></div>





 The limited edition chocolate comes in a hand-made box, each of which contains 15 truffles and each truffle weighs around 15 grams. The box is only made-to-order to customers have to place their orders in advance. 
 
 <div type="image" title="choco3" msid="71703846" hostid="261" caption="&amp;lt;p&amp;gt;Hand-made box for Fabelle&amp;#8217;s Trinity &amp;#8212; Truffles Extraordinaire&amp;lt;/p&amp;gt;"></div>




 ITC's chocolate business is only two years old, but has been trying to create a niche for itself as a luxury chocolate brand. Fabelle roped in Michelin Star chef Philippe Conticini, to help co-create chocolates for the Indian market. “After several months of R&amp;D, we have delivered a product, in which india can take pride in and stayed committed in our constant endeavor of being at the forefront of introducing Indian consumers to distinct chocolate experiences,” stated Anuj Rastogi, CEO of ITC Limited’s new categories <keyword id="6181" type="COMPANY" weightage="20" keywordseo="Food">food</keyword> division.

ITC unveils the world’s most expensive chocolate at ₹1 lakh —  and earns a Guinness record

<ul><li><keyword id="2822035" type="General" weightage="100" keywordseo="fireside-ventures" source="Orion">Fireside Ventures</keyword>, a <keyword id="6357097" type="General" weightage="20" keywordseo="venture-capital" source="Orion">venture capital</keyword> fund, is currently managing ₹3,000 crore ($395 million) of AUM. </li><li>It has backed consumer brands like unicorn Mamaearth, boAt, Vahdam, <keyword id="3711903" type="General" weightage="50" keywordseo="slurrp-farm" source="Orion">Slurrp Farm</keyword>, Kapiva, 91 Cycles to name a few. </li><li>The third fund will invest in 25-30 digital-first consumer startups. </li></ul>Fireside Ventures, an early-stage venture capital fund, said that it has closed its third fund after raising ₹1,830 crore ($225 million). Fireside Fund III is anchored by investors like Self-Reliant India Fund, <keyword id="5157154" type="General" weightage="50" keywordseo="investment-corporation-of-dubai" source="Orion">Investment Corporation of Dubai</keyword>, SBI, <keyword id="648852" type="General" weightage="50" keywordseo="premji-invest" source="Orion">Premji Invest</keyword>, Waterfield - Fund of Funds, <keyword id="6357073" type="General" weightage="50" keywordseo="itc" source="Orion">ITC</keyword>, Emami, <keyword id="4640195" type="General" weightage="50" keywordseo="sharrp-ventures" source="Orion">Sharrp Ventures</keyword> and several start-up founders. The fund is known for investing in digital-first consumer brands. It said that its third fund will invest in 25-30 D2C startups across health and wellness, edutainment, lifestyle and FMCG sectors. “Fireside Ventures was created with a very clear vision, to invest in the next generation of consumer brands, a space that was witnessing the start of disruptive changes. Five years later, we are delighted to see the magnitude of change these brave new digital-first brands are creating, and we look forward to seeing them create even more value in the future,” <keyword id="42902" type="General" weightage="50" keywordseo="kanwaljit-singh" source="Orion">Kanwaljit Singh</keyword>, managing partner, Fireside Ventures said. The market for D2C brands in India is set to touch $100 billion by 2025. Fireside Fund also said it will seek out brands with a strong purpose, responsible practices, and healthy governance. Fireside Fund has been the first institutional investor in 75% of its 31 portfolio companies. <keyword id="15236362" type="General" weightage="50" keywordseo="moreso" source="Orion">Moreso</keyword>, over 50% of them have been founded or co-founded by women, it claims. Fireside Funds I and II have invested in personal care unicorn Mamaearth, and IPO-bound boAt. Its portfolio includes Vahdam, Slurrp Farm, Kapiva, 91 Cycles, Design Café, FS Life (erstwhile FableStreet), The Sleep Company, Gynoveda, Wellbeing Nutrition and Pilgrim. Launched in 2017, Fireside Ventures with the close of its Fund III is currently managing assets to the tune of ₹3,000 crore or $395 million. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/homegrown-edtech-platform-adda247-raises-35-mn-google-new-investor/articleshow/94811713.cms">Homegrown edtech platform Adda247 raises $35 mn, Google new investor</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/early-diagnosis-of-retinopathy-of-prematurity-can-save-5000-babies-from-going-blind/articleshow/94810909.cms">‘Early diagnosis of retinopathy of prematurity can save 5,000 babies from going blind’</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/education/news/iis-jamia-bhu-on-thes-world-university-rankings-2023/slidelist/94807189.cms">IIS, Jamia, BHU on THE's World University Rankings 2023</a>

Fireside Ventures closes its third fund at $225 million

<ul><li>With more and more people getting comfortable with shopping online, <keyword id="623994" type="General" weightage="100" keywordseo="social-commerce" source="Orion">social commerce</keyword> has seen a huge boost in the last few years.</li><li><keyword id="82551" type="General" weightage="80" keywordseo="big-fm" source="Orion">BIG FM</keyword> has just launched its social commerce platform called <keyword id="12545809" type="General" weightage="80" keywordseo="big-living" source="Orion">BIG Living</keyword>.</li><li>We speak to <keyword id="295639" type="General" weightage="20" keywordseo="abraham-thomas" source="Orion">Abraham Thomas</keyword>, Chief Executive Officer, <keyword id="694101" type="General" weightage="20" keywordseo="reliance-broadcast-network-limited" source="Orion">Reliance Broadcast Network Limited</keyword>, who tells us why a radio network ventured into social commerce and everything this new platform will entail.</li></ul>The pandemic brought about a huge change in the retail ecosystem. Thousands of people who could not imagine buying products without first touching and feeling them, slowly got used to the idea, and adapt to it. While social commerce had been witnessing a gradual growth even before the Covid-19 pandemic, the lockdown sped up the adaption atleast by a few years. Identifying this opportunity, radio network BIG FM has launched BIG Living, a social commerce platform that will offer products ‘designed for consumers who care for themselves and the environment and want to live a sustainable life.’ “Over the past few years, we have witnessed the growing power of influencers. People are increasingly turning to influencers to get a sense of new products that are coming in. So we feel social commerce itself is becoming an integral part of every brand’s marketing mix. BIG FM has a large number of extremely trusted, credible local influences in our RJs, and in every city. Not only do they have a large followings on radio, they also have considerable followers on social media, both on their personal as well as the BIG FM handles. So we are trying to synergize the strength of our brand to positively influence consumers towards a curated set of brands and also offer fulfillment,” explained Abraham Thomas, Chief Executive Officer, Reliance Broadcast Network Limited. The aim of BIG Living is to connect consumers to an array of like-minded brands, artisans and designers who share a similar philosophy of sustainable living and each product will be specially selected by BIG FMs RJs. From a brand’s perspective, the aim is also to enable them in expanding their footprint to other markets and building a community of people who believe in a brand. How it also helps the brand is that it will get amplified on all the digital assets of BIG FM which will help it reach out to a much larger audience, at various touchpoints. “On BIG Living, we will give audiences the opportunity to try out latest products recommended by our individual influencers. We are trying to curate brands that are in sync with our philosophy,” he added. To start with, BIG Living will offer products from 5 categories including Health &amp; Wellness, Giving Back, Locally Made, Artisans and Designers and Workshops. A few brands that have already signed on include Gourme Foods, Soulspiti, <keyword id="12545811" type="General" weightage="20" keywordseo="lux-lyra" source="Orion">Lux Lyra</keyword>, Chitale Bandhu Mithaiwale, Jiden INC, <keyword id="12545810" type="General" weightage="20" keywordseo="sunrise-masale" source="Orion">Sunrise Masale</keyword> (<keyword id="6357073" type="General" weightage="20" keywordseo="itc" source="Orion">ITC</keyword>), Bare Necessities, To Be Honest (TBH), <keyword id="2837350" type="General" weightage="20" keywordseo="sheth-brothers" source="Orion">Sheth Brothers</keyword> (Pratikar Green Tea), amongst others. With the launch of this platform, BIG FM will serve as a platform for brands to contribute to the overall well-being of individuals and communities and help businesses to expand and flourish. With a 360 degree campaign, the social commerce website will be extensively promoted across social media platforms of BIG FM and its partner platforms.

BIG FM has just launched its social commerce platform BIG Living, here’s all there is to know about it

<ul><li><keyword id="10926" type="General" weightage="100" keywordseo="reliance" source="Orion">Reliance</keyword> has launched indigenous consumer packaged goods brand ‘Independence’ that will offer products under several categories, including staples, processed foods, and daily essentials. </li><li>The company aims to start the national rollout of the brand with Gujarat. </li><li>In India, packaged goods volume took a hit at the start of 2022</li></ul><keyword id="15793795" type="General" weightage="20" keywordseo="Reliance-consumer-products" source="Orion">Reliance Consumer Products</keyword>, the FMCG arm of Reliance Ventures, launched its indigenous consumer packaged goods (CPG) brand ‘Independence’, on Thursday. The company said that under this brand, it will offer a wide range of products like staples, processed foods and other daily essentials. The company is preparing for a national roll-out, but launched on Thursday in Ahmedabad, Gujarat. Reliance said that it will develop Gujarat as a ‘go-to-market’ state. “I am happy to announce the launch of our own <keyword id="1559409" type="General" weightage="20" keywordseo="FMCG-brand" source="Orion">FMCG brand</keyword> Independence which brings a wide choice of high quality and affordable products including edible oils, pulses, grains, packaged foods and other daily need products,” said <keyword id="617730" type="General" weightage="80" keywordseo="isha-ambani" source="Orion">Isha Ambani</keyword>, director, Reliance Retail Ventures. Reliance Retail has <a href="https://www.ril.com/OurBusinesses/Retail.aspx#:~:text=As%20of%20March%2031%2C%202021,over%2033%20million%20sq%20ft.">over 12,000 stores </a>across the country, and is one of India’s largest retailers. However, the company said that it is collaborating with trade partners including manufacturers and kirana for the same. The FMCG industry in India is currently dominated by Hindustan Unilever, Nestle in addition to ITC and Godrej. A 2021 research by <a href="https://www.mckinsey.com/featured-insights/future-of-asia/the-shifting-consumer-packaged-goods-market-in-a-diversifying-asia">McKinsey Global Institute (MGI)</a> stated that Asia represents a $10 trillion consumption growth opportunity over the next decade. While the long term growth levers are firm, this calendar year has not been very profitable for the sector which had many drag factors like rising inflation that affected the purchasing power of many of its consumers and also increased the input costs of the producers. “Revenue growth was driven by price hikes, with volumes remaining subdued across categories. The volume contraction was more pronounced in rural areas. Companies expect rural demand to recover in the second half of FY23, on the back of government interventions, a good monsoon and higher crop realisations,” says a <a href="https://www.businessinsider.in/business/news/india-fmcg-sector-profits-may-be-weighed-by-ad-spend-hikes-price-cuts-bnp-paribas/articleshow/95903391.cms">recent report BNP Paribas</a>. Godrej Consumer Products <a href="https://www.livemint.com/industry/retail/packagedgoods-volumes-seen-taking-a-hit-11649273148601.html">said </a>in its March quarter update that “the sector continued to be hit hard by higher inflation levels, leading to successive price increases, and impacting volumes.” SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/a-quarter-of-indian-gig-workers-salaries-grew-by-50-in-the-last-one-year/articleshow/96253213.cms">A quarter of Indian gig workers’ salaries grew by 50% in the last one year</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-nifty50-fall-over-1-as-us-fed-commentary-disappoints/articleshow/96253271.cms">Sensex, Nifty50 fall over 1% as US Fed commentary disappoints</a>

Isha Ambani announces the launch of Reliance's new FMCG brand, Independence

<ul><li>Nykaa's share prices have crossed the ₹2200 mark, whereas ITC is trying to cross the ₹300 mark, Twitteratis have highlighted.</li><li>The point of contention for this meme is one — ITC's net profit is much higher than Nykaa's profit.</li><li>Nykaa's profit fell significantly last quarter as Falguni Nayar decided that it was time to acquire new customers.</li></ul>Social media is buzzing with memes asking why Nykaa, a fashion retailer with an annual profit of ₹62 crore (in FY21), is valued more (i.e. at a greater multiple) than ITC, a 111-year old giant that sells cigarettes, consumer goods and hotel rooms, earning a profit of ₹12,934.49 crore in a year. <div type="image" title="Nykaa vs ITC memes are hilarious but it may not be the right comparison" msid="87755570" hostid="261"></div> The simple answer is, market prices in the future and not the past. But the market can be irrational before it gets the price right. Nykaa’s shares price doubled on the first day of trading, but have started to cool off today. <div type="image" title="Nykaa vs ITC memes are hilarious but it may not be the right comparison" msid="87757344" hostid="261"></div> So let’s look at what Nykaa is planning for its future and what the analysts expect the future to look like. Founder and chief executive (CEO) Falguni Nayar is doubling down on the high-margin fashion products, compared to an ITC that wants to move away from cigarettes but the other segments yield very little margin. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Metric </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nykaa </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ITC </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Market capitalisation as of Nov 17 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1.03 lakh crore (around $14 billion) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2.94 lakh crore ($39 billion) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 EBITDA margin </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.61% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8.9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Estimate for EBITDA margin </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13% FY27 (Bernstein) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">37.4% by FY24 (S&amp;P Global Market Intelligence) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Estimated revenue growth for next 5 years </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">65% growth between FY22 to FY27 (Bernstein) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,85,336 by FY24 (Emkay) </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>*EBITDA stands for earnings before interest, tax, depreciation and amortisation Nykaa Fashion was launched in 2018 as a curated and managed marketplace Nykaa’s profit was down in the three months ending September because Nayar decided now is the time to acquire customers and get them hooked to the brand. It meant spending more on promotions, which would also help sell <a href="https://www.businessinsider.in/business/startups/news/the-cost-of-selling-its-ipo-has-eroded-half-of-nykaas-profit/articleshow/87715261.cms">the IPO at a higher price</a>. <div type="image" title="Nykaa vs ITC memes are hilarious but it may not be the right comparison" msid="87755520" hostid="261"></div> Nykaa’s marketing expenses surged four-fold but it managed to get 23 million more new users to visit its platform (both fashion and beauty ecommerce verticals) between July and September 2022. The revenue grew nearly 38% compared to the same time last year. Here’s why Nykaa spending so much building the fashion vertical According to a report by Spark India Consumption, there are several reasons why Nykaa decided to venture into the fashion ecommerce space — including immense market opportunities and the limited competition, especially when it comes to premium clothing brands that sell online. Fast facts about the potential of fashion retail in India <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Metric </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Estimated growth rate </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fashion retail: Market size </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12% compounded annual growth to reach $79 billion till FY19. It declined 35% in 2020 due to the pandemic </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Online fashion retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">33% growth in the last 3 years, market size has doubled since 2017 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fastest growing segment </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Footwear and accessories </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total addressable market </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$152 billion </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Adwaita Nayar, the chief executive of Nykaa Fashion, believes that the trends in the fashion industry change rapidly and therefore an inventory-led model may not work in favour of Nykaa. The same does not stand true for the cosmetics industry. Apart from this, both these verticals cater to the same cohort of customers. Young Indians with “aspirations” and increasing disposable income, a report by Motilal Oswal added. The vertical is set to get a higher tailwind as more young population comes online and the spending capacity in tier-II cities increases, the financial services company added. Nykaa has also been fast to adapt and grab the social commerce opportunity. The company has roped in 1,300 influencers, aside from content marketing, to push its products to peeps on Facebook, Instagram, Twitter and other popular platforms. <div type="image" title="Nykaa vs ITC memes are hilarious but it may not be the right comparison" msid="87755491" hostid="261"></div> About 2% of Nykaa’s revenue comes from the fashion vertical, as per the company’s red herring prospectus filed last month before hitting the public market. There is a lot of headroom for growth both in terms of revenue and market share. Nayar has also promised that the growth will not be driven by discounts. About 17% of Nykaa’s gross merchandise value (GMV) are sold at full price or at a discount of 10% or lower. Nykaa’s fashion and beauty verticals will move further away from discounts, Adwaita Nayar added in the pre-IPO press conference. But it will be easier said than done. While Nykaa’s cosmetics business is facing competition from Walmart-owned Myntra, Purplle and few other players, its fashion vertical is pitted against e-commerce giants like Amazon, Flipkart, JioMart and more. Despite lower discounts, the company’s average order value was at ₹3,257 in the September quarter across 13 lakh orders. <div type="image" title="Nykaa vs ITC memes are hilarious but it may not be the right comparison" msid="87755503" hostid="261"></div> Is this growth exciting enough to pay more for every dollar profit from Nykaa, compared to legacy companies like ITC? It’s for the investors to decide. Even then, the comparison should not be done with an ITC or Tata Steel, like the memes have . It has to be compared with other players in similar business. Even on that count, Nykaa’s shares may be a bit expensive, according to analysts at Bernstein who shared the following data in a report dated August 2021. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Global beauty and personal care brands </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Forward price to sales* (as of Aug 2021) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nykaa** </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8.5x </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">L’Oreal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.8x </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">LVMH </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.1x </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Estee Lauder </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.5x </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>*Source: Bernstein **The Bernstein report was published before Nykaa’s IPO. The price-to-sales ratio is calculated by taking a company's market capitalisation ⁠— the number of outstanding shares multiplied by the share price ⁠— and divide it by the company's projected total sales for the next 12 months. The lower the ratio, the more attractive the investment. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/used-car-startup-cars-24-not-in-a-hurry-for-ipo-like-droom-and-cartrade-com/slidelist/87743891.cms">INTERVIEW: The CEO of the biggest startup in the used car e-tail explains why he is skipping the 2021 IPO frenzy</a> <a href="https://www.businessinsider.in/personal-finance/news/now-you-can-invest-in-global-blockchain-companies-through-this-mutual-fund-heres-how-to-do-it/articleshow/87724967.cms">Now you can invest in global blockchain companies through this mutual fund ⁠— here's how to do it</a> <a href="https://www.businessinsider.in/cryptocurrency/news/cryptocurrencies-tumble-as-china-continues-its-crackdown-against-mining/articleshow/87738496.cms">Cryptocurrencies tumble as China continues its crackdown against mining</a>

Nykaa vs ITC memes are hilarious but it may not be the right comparison

<ul><li><keyword id="4668903" type="General" weightage="20" keywordseo="itc-savlon" source="Orion">ITC Savlon</keyword> onboards <keyword id="1476559" type="General" weightage="80" keywordseo="tara-sutaria" source="Orion">Tara Sutaria</keyword> as brand ambassador for <keyword id="12884562" type="General" weightage="20" keywordseo="savlon-glycerin" source="Orion">Savlon Glycerin</keyword> Soap; launches a new TVC.</li><li>The TVC pillars on “softness” as a key benefit by <keyword id="12884561" type="General" weightage="20" keywordseo="savlon-glycerin-soap" source="Orion">Savlon Glycerin Soap</keyword> with effective germ protection.</li></ul>ITC Savlon has roped in youth icon, actor Tara Sutaria as the brand ambassador for Savlon Glycerine Soap, a unique offering from ITC Savlon that addresses the dual need of soft skin along with germ protection. The soaps segment in the health space has witnessed an influx of new consumers over the past two years who were looking for efficacious germ protection. This has led to a significant increase in consumption of health soaps and at the same time, has brought about a change in consumer expectations. Consumers today aren’t satisfied with just germ protection, but also expect their soap to provide effective care for their skin. A new film has been launched featuring brand ambassador Tara Sutaria which depicts a humorous competition between the actor and her dog on who is the real ‘Softy’. The TVC represents a slice of life narrative of a relaxed day for Tara Sutaria, which brings alive the intangible nuance of touch as one of the senses. The film draws a parallel using creative visuals to depict softness of skin in everyday life. The soap is positioned as an all-round solution for hygiene, skincare and protection, that comes with the trusted equity of ITC Savlon. Glycerine, the hero ingredient of the product, is known to be a skin conditioner and has inherent skin moisturizing properties. <div type="Youtube" id="yY6PumWw-pk" title="Savlon Glycerin Soap | Soft skin with Savlon Protection | Hindi" thumbUrl="https://i.ytimg.com/vi/yY6PumWw-pk/mqdefault.jpg"></div> The film with its creative narration and visuals communicates product characteristics from a functional and lifestyle perspective, in a spirited manner. Speaking on the new film, Sameer Satpathy, Chief Executive, Personal Care Products Business Division, ITC Limited said, “Savlon has been the front runner in addressing evolving consumer needs through innovation. The health soap category has seen a robust growth over the past two years. While hygiene has become a way of life for all, with consumer needs evolving, personal hygiene has progressed from providing protection only to ensuring value-added skin care benefits as well. Tara’s partnership with the brand brings with her a vibrant &amp; fresh feel to the category that the Savlon soap encompasses.” Expressing her thoughts, actress Tara Sutaria comments on the launch, “I feel privileged to be associated with Savlon, a brand that is consumer focused and solution oriented with its innovative product offerings. I am a great proponent of using a trusted name for protection against germs for the safety of my family and myself. Like many of us, I have also struggled to choose between effective protection and skin care. It came as a pleasant surprise, with Savlon Glycerin soap, which makes my skin feel soft with a germ protection trust of over 50 yrs. The Savlon soap has become my go to.” The soap is available across retail outlets &amp; e-commerce platforms. Kainaz Karmakar &amp; Harshad Rajadhyaksha, Chief Creative Officers, <keyword id="531122" type="General" weightage="20" keywordseo="ogilvy-india" source="Orion">Ogilvy India</keyword>, commented on the film, “the concept of ‘Softy’ is a light, endearing way to establish the beauty credentials of this soap. The film is a product demo but told as a story. It makes a sharp point about what the soap can do for your skin and this will not be missed. The interaction between Tara and the dog is what will make the film memorable and we believe the audience will enjoy watching it again and again.”

Tara Sutaria to be the face of Savlon Glycerin Soap

<keyword id="6357073" type="General" weightage="100" keywordseo="itc" source="Orion">ITC</keyword> on Wednesday posted an 11.7 per cent rise in consolidated net profit during Q4FY22, at Rs 4,196 crore, as against Rs 3,755 crore recorded in the year ago period. On quarter on quarter basis, the profit rose 3.4 per cent. The company's earnings beats estimates of several market analysts. Besides, consolidated revenue rose 15.3 per cent on year to Rs 17,754 crore as compared to Rs 15,404 crore a year-ago. On a <keyword id="903746" type="General" weightage="50" keywordseo="qoq" source="Orion">QoQ</keyword> basis, however, the revenue declined 3.3 per cent. The better performance was pushed by healthy growth across its business of cigarettes, FMCG, hotels, and paperboards. Robust broad-based recovery in cigarettes business was witnessed despite disruptions due to the third wave and volumes too surpassed pre-pandemic levels. For entire fiscal FY22, the consolidated profit after tax grew 15.8 per cent to Rs 15,243 crore year on year, and consolidated revenues jumped 22.7 per cent to Rs 65,205 crore. After a challenging FY2020-21, and despite repeated disruptions this year, the business progressively recovered on the back of improved mobility and easing of restrictions, surpassing pre-pandemic levels in the latter half of the year. ITC effectively leveraged institutional strengths, digital technologies and learnings from previous waves to respond with agility across all nodes of operations. The company recommended a final dividend of Rs 6.25 per share for FY22, which will be paid between July 22-26, 2022. This is in addition to the interim dividend of Rs 5.25 per share declared earlier this year. The company said it remains focused on building purpose-led brands powered by agile innovation and anchored on larger consumer needs. The businesses continue to increasingly leverage 'Sixth Sense', the <keyword id="13972477" type="General" weightage="50" keywordseo="marketing-command-centre" source="Orion">Marketing Command Centre</keyword> and <keyword id="1397742" type="General" weightage="50" keywordseo="consumer-data" source="Orion">Consumer Data</keyword> Hub - an AI powered hyper-personalised platform backed by a robust partner ecosystem for content and data - to gain insights on market trends and consumer behaviour, and synthesise the same to craft contextual and hyper-personalised brand communication and product development, it added. In order to effectively leverage new routes-to-markets and meet the assortment needs of emerging channels, the company executed over 110 new product launches across target markets. The robust innovation platforms of the Company's Life Sciences and Technology Centre (LSTC) were instrumental in accelerating speed to market. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/ways-to-save-more-money-after-your-monthly-expenses/articleshow/91650065.cms">Ways to save more money after your monthly expenses</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/top-9-types-of-nfts-heres-the-complete-list/slidelist/91643024.cms">Crypto 101 – Understanding the different types of NFTs</a>

A 'healthy' growth in cigarettes vertical helped ITC beat earnings estimates

<keyword id="6355629" type="General" weightage="20" keywordseo="google" source="Orion">Google</keyword> has introduced a new <keyword id="1470391" type="General" weightage="20" keywordseo="play-store" source="Orion">Play Store</keyword> for large screens. "We've redesigned the Play Store to help users get the most from their tablets, <keyword id="6372682" type="General" weightage="50" keywordseo="chromebooks" source="Orion">Chromebooks</keyword>, and foldables," the tech giant said in an Android Developers blogpost on Tuesday. The company introduced four updates to help users find high-quality large screen apps on its app store -- refreshed app listing pages, ranking and quality improvements, streamlined store navigation, and a split-screen search experience. "Your store listing page is the best way to demonstrate the functionality and value of your app, so we've revamped the experience to put your content front and centre," the tech giant added. Games with high-quality videos will now show a video banner at the top of their app listing page, allowing users to get a sense of gameplay in an "immersive" way. The company also reorganised apps and games details pages in a multi-column layout, bringing more of users' content higher up on the page. To promote high-quality apps that "shine" on large screens, the tech giant made several ranking changes to boost quality across the Play Store. "Apps and games that adhere to our large screen app quality guidelines will now be ranked higher in search and Apps and Games Home," the company said. "For more seamless browsing, we've simplified our store navigation and moved to a left-side navigation rail on larger screens." This puts menu items closer to users' thumbs and makes them more accessible, especially when holding a device in landscape mode. With the new split-screen search experience, users can easily discover and compare apps from within the search results page. "These changes will begin rolling out over the coming weeks, and are just the beginning of our journey in creating a tailored Play Store experience for large screens," Google added. SEE ALSO:<a href="https://www.businessinsider.in/business/news/here-are-the-top-10-companies-in-india-as-per-market-valuation/slidelist/102129586.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/here-are-the-top-10-companies-in-india-as-per-market-valuation/slidelist/102129586.cms" target="_blank">RIL to HDFC Bank to ITC – Here are the 10 most valuable Indian companies</a> <a href="https://www.businessinsider.in/business/news/hdfc-bank-and-swiggy-launch-co-branded-credit-card-to-offer-discount-to-customers/articleshow/102133212.cms">HDFC Bank and Swiggy launch co-branded credit card – cashback, offers and more</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-m34-5g-mobile-review/articleshow/101863069.cms">Samsung Galaxy M34 5G review – a sub-₹20,000 phone with good battery life</a>

Google introduces new Play Store for large screens

<keyword id="6357073" type="DOMAIN" weightage="20" keywordseo="ITC">ITC</keyword> Limited has informed the <keyword id="6402868" type="COMPANY" weightage="20" keywordseo="stock-exchanges">stock exchanges</keyword> that news with regard to a potential demerger of the company is "speculative in nature". "We write to advise that the news item under reference is speculative in nature," the ITC said in a filing with reference to the news item in a TV channel. "We draw your attention that if and when there is any material development with respect to the affairs of the Company, the Stock Exchanges are kept advised, pursuant to <keyword id="163506" type="ORGANIZATION" weightage="20" keywordseo="regulation">Regulation</keyword> 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with the Company's Policy for determination of materiality of events and information for disclosure to the Stock Exchanges," the ITC said. As per reports, ITC is readying a demerger plan with a big unlocking of value for shareholders. After ITC Demerger, there would emerge as many as three companies namely hotels, <keyword id="34523" type="COMPANY" weightage="20" keywordseo="fmcg">FMCG</keyword> and <keyword id="35554" type="COMPANY" weightage="20" keywordseo="infotech">infotech</keyword>, as per reports. The Board Meet of ITC will happen in April where the management will discuss the demerger. This is a long term process and the company has been working on it since long and now seems that it is in the final stages of getting demerged, the report said. Investment Bankers have also started working on demerger. Paper, <keyword id="62486" type="LOCATION" weightage="20" keywordseo="Textiles">Textiles</keyword>, Cigarettes and other FMCG companies will be a flagship company and other two businesses, hotels and Infotech, will be separate businesses, the reports said. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/kishore-biyani-future-group-appeals-to-the-singapore-arbitrator-to-exclude-future-retail-from-the-fight-with-amazon/articleshow/81562016.cms">Ahead of Delhi High Court's decision, Future Group appeals to the Singapore arbitrator to exclude Future Retail from the fight with Amazon</a> <a href="https://www.businessinsider.in/business/startups/news/indian-spacetech-startup-pixxel-space-gets-7-3-million-funding-before-the-launch-of-its-first-satellite/articleshow/81562421.cms">Indian spacetech startup Pixxel gets $7.3 million in funding as it announces a new product even before the launch of its first satellite</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-adds-3-times-more-subscribers-than-reliance-jio-vodafone-idea-turns-positive-for-the-first-time-in-15-months/articleshow/81562851.cms">Airtel adds 3 times more subscribers than Jio while Vodafone Idea gets net addition first time in 15 months</a>

You Searched For "ITC new launch" and got 12 results

ITC plans to open more hotels overseas: CMD Sanjiv Puri

PTI

ITC Hotels signs Welcomhotel Jabalpur

IANS

ITC is relying on its advisory app for farmers, valued-added crops to grow its agri-business

Kritti Bhalla

ITC unveils the world’s most expensive chocolate at ₹1 lakh — and earns a Guinness record

Prabhjote Gill

Fireside Ventures closes its third fund at $225 million

Eetika Kapoor

BIG FM has just launched its social commerce platform BIG Living, here’s all there is to know about it

Samarpita Banerjee

Isha Ambani announces the launch of Reliance's new FMCG brand, Independence

Srishti Magan

Nykaa vs ITC memes are hilarious but it may not be the right comparison

Kritti Bhalla

Tara Sutaria to be the face of Savlon Glycerin Soap

BI India Partner

A 'healthy' growth in cigarettes vertical helped ITC beat earnings estimates

IANS

Google introduces new Play Store for large screens

IANS

ITC inform stock exchanges that reports of demerger are 'speculative'

IANS

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