New Delhi, May 17 () Leading retailers have witnessed an increase in number of footfalls along with a "significant" jump in average purchase value in the third phase of the lockdown.According to industry players such as Metro Cash &amp; Carry, Lots Wholesale Solutions, Future Group and V-Mart Retail, as restrictions were eased more stores could open thereby increasing customer walk-ins, availability of popular FMCG products and high-value items.Some of the items that saw increased demand in the third phase of lockdown include dry fruits, frozen non-vegetarian products, personal care products - grooming, cold beverages and premium products.Supply of these products was disrupted in the previous two phases of the lockdown imposed from March 25 to control the spread of coronavirus pandemic."The footfalls have gone up by a third over the previous lockdown as restrictions are getting eased especially in Karnataka, Delhi and Telangana," Metro Cash &amp; Carry India MD &amp; CEO Arvind Mediratta told .He said there are several factors which impact store walk- ins, operational timings of the store along-with other factors in that particular city that play a role in store footfalls.Expressing similar views, Lots Wholesale Solutions Managing Director Tanit Chearavanont said as restrictions on movement are being eased, the number of footfalls is increasing in stores along with average purchase value."With every passing day and government providing some ease in movement, we have witnessed increased footfall at our stores largely from local kiranas and retailers during the lockdown and overall the average purchase value per customer has gone up," he said.Value fashion and lifestyle products retailer V-Mart Retail said the number of its operational stores pan-India has gone up, so also the number of customers."Earlier, one store has an average visit of around 40-50 customers which now has gone up to 130 to 150 per day. The basket size has also increased as people still have some tendency to hoard," said V-Mart Retail Chairman and MD Lalit Agarwal.According to him, in May and June, some marriages were scheduled. As restrictions were eased, low profile marriage happened in limited small groups and people have done some shoppings, which has turned the situation favourable.According to Mediratta, in the third phase availability of popular brands has increased and customers are returning back to them again preferring over the local and private labels."A major trend that we witnessed in the second phase was that customers were ready to switch to local brands in the same product category. If their favourite brands were not available, they were happy to transition to a private label brand," he said'"With the government easing out manufacturing and measures taken to open the economy, consumers have started to pick up brands again with availability improving and are demanding value added categories."Future Group President Food &amp; FMCG Kamaldeep Singh said that though the situation is still not close to normal but average purchase by a customer has gone up."Number of footfalls and shopping trips are still down but the average value of the bill is higher due to lesser number of visits by a customer," he said adding "customers are largely picking staples, food items and personal hygiene products".However, Singh also added that customers have still not started picking personal care products like deodorant, skin care, vanity and beauty products.Walmart India, which operates Best Price cash &amp; carry stores, witnessed a spike on demand of staples and hygiene products and expects a pent-up demand in the non-essential categories, which was opened in the third phase of the lockdown."With non-essential categories opening up, we expect some pent up demand in small kitchen and home appliances like irons, kettles, pressure cookers, and fans," said Anuj Singh, Chief Merchandising Officer, Best Price Walmart India.In the coming days retailers are hoping for a further easing of restriction as they continue to face some supply constraints as most of FMCG companies are not operating in full swing."We expect the government to ease restrictions in all the zones. The situation should normalise, and the demand &amp; supply should become more consistent," said Chearavanont.While Mediratta has suggested, the state authorities to work in unison with the central government so there is seamless functioning of businesses across sectors."The list of essential items should be further extended and all stores should be allowed to operate without any restrictions on timings," he added.India is presently going through an unprecedented lockdown from March 25 to prevent the spread of the coronavirus with the third phase ending on Sunday. KRH RKL MR

Consumers footfall increase, average basket value goes up at retail stores in lockdown 3.0

New Delhi, May 3 () The second phase of the coronavirus lockdown saw a considerable shift in buying patterns of consumers from basic necessities to high-value items like snacks, processed food, packaged meat and frozen desserts, retailers said. Retailers such as Future Group, Metro and Lots Wholesale said they witnessed a spike in demand for packaged food products like biscuits and noodles, resulting in an increase in the average purchase value per customer. People also sought critical non-food products such as kitchen appliances, electrical goods, stationery and storage containers at Metro. "Yes, the second phase witnessed a growing demand for processed food, packaged meat and frozen desserts. People are working from home. Hence, snack items, biscuits and hot beverages are also in demand amongst customers," Metro Cash &amp; Carry India MD and CEO Arvind Mediratta told . As the restrictions started easing, customers saw they could get easy access to their daily essentials and so panic buying stopped, he added. "Initially, customers were unsure of what the trickle down effect of the lockdown would be. Consumers started becoming vigilant and began hoarding essential commodities. There was a sense of panic. "But gradually, everyone was made aware that all essential products will continue to be available and people will not face a shortage. Currently, there is less panic buying and more need base buying," he said. As most people are working from home, Metro is witnessing enquiries from customers for IT products such as computers, mouse, keyboard, chargers and other accessories. Future Group President Food &amp; FMCG Kamaldeep Singh said in the first phase people were buying basic necessary items such as atta, pulses and sugar, but in the second phase they focussed more on food items like biscuits, noodles and pasta. "The definition of basic necessity has changed in couple of weeks from basic foods to snacking and munching items," he said. According to Singh, people are not willing to travel long distances, hence footfall of large format stores is down but sales of convenience stores like EasyDay have picked up considerably. Though people are not hoarding goods, they have cravings for snacks and other items as they are staying at home, he said. "In the second stage, people are buying products which can be cooked at home like pasta, noodles etc. Sales of frozen non-veg and home snacking and processed food have gone up to a large extent, such as French fries, baked items and ready-to-cook meals," he said. As restaurants are closed, people are cooking many dishes at home, Singh said, adding "the trend in the second phase has shifted from pure basic essentials to instant food and snacking items." Lots Wholesale Solutions Managing Director Tanit Chearavanont said the demand in the second phase is majorly coming from both the "food and non-food FMCG categories" as compared to commodities which had seen a spike in the initial phase of lockdown. "Overall, the average purchase value per customer has gone up," he said. "There is a marked difference between consumer behaviour between the first phase and the second phase of lockdown. The first phase of lockdown was fuelled by panic buy resulting in bulk purchase in categories like commodities and FMCG food products. Panic buying continued for an initial 7-10 days of lockdown, slowly giving way to consumer's confidence in the availability of essential goods," he said. Also, with the summer season kicking in, another category seeing major demand is insecticides, Chearavanont added. According to value fashion and lifestyle products retailer V-Mart Retail, now consumers are "trusting" their retailers and have faith that goods would remain available. "Though, we are not operating many stores but have observed a shift in the consumer buying pattern in the second phase of lockdown. Earlier, we had noticed panic buying by the customer, purchasing whatever they can do but now people are assured about availability. That trust has come and now people are purchasing as per their requirement," said V-Mart Retail Chairman and MD Lalit Agarwal. Meanwhile, several retailers have reported an increase in sales of their private labels, which filled the gaps as supply lines from other manufacturers were disrupted. Asked whether the trend is likely to continue, Singh said consumers in the lockdown period are brand agnostics. "Right now the consumer is not very brand conscious, he simply wants products," he said. According to Mediratta, due to the disruption in the supply chain, there were several FMCG companies that were not able to deliver their goods as their production was interrupted, leading to a shortage of branded goods such as instant noodles. "However, customers were not bothered even if favorite brands were not available and were happy to transition to a private label brand. This gave a lot of boost to private labels whose stocks were available locally and so their supply remained steady without hindrances," he said. The government first imposed a 21-day nationwide lockdown on March 24 to curb the spread of coronavirus infections. On April 14, the lockdown was extended till May 3. The government has further extended the lockdown till May 17, but with considerable relaxations based on zones. KRH RKL ABMABM

Lockdown 2.0: Consumers' focus shifts to packaged, high-value food items

<a href="http://www.businessinsider.in/searchresult.cms?query=Select+Citywalk+mall+">Select Citywalk mall</a> in Delhi has already attracted a record 98,000 visitors on October 2 during the launch of Swedish brand H&amp;M. It is now going to introduce two fashion brands – Spain’s <keyword id="150628" type="PERSON" weightage="100" keywordseo="Massimo-Dutti">Massimo Dutti</keyword> and America's Aeropostale. 
 Massimo Dutti is owned by Inditex's SA, better known for its brand <keyword id="6377147" type="COMPANY" weightage="100" keywordseo="Zara">Zara</keyword>, which is already doing good business in India. The mall is said to be in the advanced stages of discussion with Inditex Trent Retail India, the joint venture between Inditex and Trent. 
 
On the other hand, America's teen retailer Aeropostale partnered Arvind Ltd. in June 2015. Its subsidiary Arvind Lifestyle is expected to open 15 standalone stores next year. 
 Last year, Grupo Massimo Dutti SA, a subsidiary of Inditex, had filed an application with the Foreign Investment Promotion Board (<keyword id="6360345" type="ORGANIZATION" weightage="80" keywordseo="FIPB">FIPB</keyword>). However, the group's previous application for the same brand was rejected since the proposal was initially made by Zara Holdings Netherlands and not Inditex. 
 
Now, it is entering into partnership with Trent via the same route that Zara took to enter India in 2009. The deal is in the final stage and the store will be ready by the first quarter of 2016. 
 
Currently, the firm is looking for 5,000-8,000 sq ft space on the ground floor of the mall. It is also scouting for locations to open four-five stores in Delhi-NCR, Mumbai and Bengaluru. J Suresh, MD and chief executive of Arvind Lifestyle Brands said: "We are looking for four-five stores in Delhi-NCR next year. Our next store is planned for March-April 2016." 
 
The Aeropostale store would come up next to the Gap store in the Select Citywalk mall. The company is planning to catch the customers this Diwali and is going to open on November 7, said Suresh. 
 This will be the third foreign brand the company will launch after Gap and The Children Play. This year, the textile firm also struck a deal with cosmetics and beauty retailer Sephora, owned by French luxury conglomerate Moet Hennessy <keyword id="5940" type="PERSON" weightage="80" keywordseo="Louis-Vuitton">Louis Vuitton</keyword> (<keyword id="110312" type="COMPANY" weightage="80" keywordseo="LVMH">LVMH</keyword>). 
 
H&amp;M sold goods worth over Rs 5 crore in the first three days of launch, according to people familiar with the matter. 
 
(Image: Indiatimes)

India's
most successful mall is gearing up to launch 2 big global fashion brands after
its H&M success!

Fashion conscious or higher spending power—whatever be the reason, when it comes to making a foray in India, Delhi seems to top the charts for brands. According to an ET report, several US food chains which includes <keyword id="33542" type="COMPANY" weightage="20" keywordseo="Burger-King">Burger King</keyword>, Johnny Rockets and Wendy’s chose Delhi over any other part of the country to make its debut in India. 
 But it isn’t the new players that are looking at Delhi to enter India, for existing players such as Arvind Lifestyle Brands that sells premium brands such as <keyword id="17228" type="PERSON" weightage="20" keywordseo="Calvin-Klein">Calvin Klein</keyword>, <keyword id="175846" type="ORGANIZATION" weightage="20" keywordseo="US-Polo">US Polo</keyword> and Nautica products in India, the Delhi outlets earn 20% more revenue than its counterpart elsewhere in the country. And for exactly this reason, <keyword id="6431981" type="COMPANY" weightage="20" keywordseo="gap">GAP</keyword>, which will soon launch in India by Arvind Lifestyle, has chosen Delhi for its grand entry. Arch-rival <keyword id="150626" type="COMPANY" weightage="20" keywordseo="HM">H&amp;M</keyword> (Hennes &amp; Mauritz) too will commence their operations in India by launching in Delhi first. 
 
According to real-estate advisory firm JLL India, the Delhi-NCR region has 15 successful malls as compared to Mumbai, which has 10 successful malls in its kitty. 
 
"The availability of quality space in premium locations in the NCR is more," said Pankaj Renjhen, MD for retail services at consultancy firm JLL India in the report. He added, “Brands usually want to launch from a top market. That market in Mumbai is south Mumbai, which only has one good mall. In comparison, south Delhi has five good, performing malls." 
 
It should be noted that the malls in Delhi-NCR regions not only cater to the consumers in the city but also to those in neighbouring cities of Chandigarh, Ludhiana, among others. 
 
“Delhi records higher productivity for any fashion store and Delhi is all season, where you not only sell summer apparel but also winter clothing," said J Suresh, CEO of Arvind Brands in the report. He further explained, “Also,, Delhi today is by far number one in terms of fashion adaptation.”

Know why GAP, H&M chose Delhi over Mumbai and Bangalore

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Neilson Barnard/GettyIBM CEO Ginni Rometty</div></div></div><ul class="summary-list"><li>IBM unveiled the IBM Q System One on Tuesday, billed as the world's first quantum computer that businesses will actually be able to buy and use.</li><li>Previously, quantum computers have only been confined to research labs - Microsoft, Google, IBM, and lots of others have been racing to bring a viable quantum computer to market. </li><li>Now IBM will partner with commercial clients to give them access to this technology, which can allow businesses to model complicated data such as investments and risk.</li><li>Quantum computers have the potential to perform seemingly-impossible computing tasks, but they're still in their very early stages.</li><li>The computer itself is in a nine-by-nine glass cube that maintains it at the exactly correct temperature and other conditions it needs to do its work - a kind of fragility that means that you can't just order one and have it sent; customers will access it via the IBM Cloud. </li></ul>For many years, quantum computers have only been within the confines of the research lab. On Tuesday, though, IBM unveiled the IBM Q System One, billed as the first-ever quantum computer designed for businesses to put to their own use - though the company is clear that this is only the first step towards a broader revolution. <a href="https://www.businessinsider.com/what-is-quantum-computing-2013-7">Quantum computing </a>is considered one of the most promising early-stage technologies out there today. That's because quantum computers can process exponentially more data and have the potential to completely transform entire industries. For example, they could potentially streamline aerospace and military systems, calculate risk factors to make better investments, or, perhaps, find a cure for cancer and other diseases. "Data will be the world's most valuable natural resource," IBM CEO Ginni Rometty said on stage at the Consumer Electronics Show in Las Vegas, where the IBM Q System One was unveiled. Don't expect to install one in your office any time soon, though. While the computer is open to paying customers, developers will access its power from the comfort of their own homes or offices via the IBM Cloud.<div class="KonaFilter image-container display-table"><div><div class="image on-image">IBMIBM Q System One</div></div></div>Computers today store data in binary, as either zeroes or ones - strings of ones and zeroes represent numbers or letters. However, <a href="https://www.businessinsider.com/googles-quantum-computing-milestone-2015-3">quantum computers</a> are <a href="https://www.businessinsider.com/why-be-excited-about-quantum-computers-2015-4">much more powerful</a>. That's because they store data using qubits, which have a special property that allows zeroes and ones to exist simultaneously. This seemingly-small thing gives quantum computers the ability to do exponentially more calculations at once, making them powerful enough for incredibly complicated tasks like drug discovery, intensive data analysis, and even creating unbreakable codes. Enclosed in a nine-foot-tall, nine-foot-wide glass case that forms an air-tight environment, this sleek computer is IBM's first effort to bring <a href="https://www.businessinsider.com/microsoft-hybrid-quantum-computer-2015-10">quantum computing</a> to businesses. The casing is important: Qubits lose their quantum computing properties outside of very specific conditions. A quantum computer has to be kept well below freezing, in a mostly vibration- and electromagnetic radiation-free environment. IBM's new system aims to address this challenge with an integrated quantum computer that solves all of that on behalf of customers - hence the casing, which keeps everything in ship-shape. However, this relative fragility is why you won't be installing an IBM Q System One in your own office - while it's definitely a major step forward, it's a far ways away from being something you can order and have delivered."The IBM Q System One is a major step forward in the commercialization of quantum computing," Arvind Krishna, senior vice president of Hybrid Cloud and director of IBM Research said in a statement. "This new system is critical in expanding quantum computing beyond the walls of the research lab as we work to develop practical quantum applications for business and science."Read more: <a href="https://www.businessinsider.com/why-be-excited-about-quantum-computers-2015-4">Here's why we should be really excited about quantum computers</a>Later this year, <a href="https://www.businessinsider.com/ibm-red-hat-open-source-upset-2018-10">IBM</a> will also open its first IBM Q Quantum Computation Center for commercial customers in Poughkeepsie, New York. At this lab, clients can use IBM's cloud-based quantum computing systems, as well as other high performance computing systems. IBM isn't the only company that's been working on quantum computing, as the technology is still far from ready for mass deployment.Google is <a href="https://www.businessinsider.com/googles-quantum-computing-milestone-2015-3">researching</a> how to make quantum computers more stable and better able to find and fix errors, and it has also created and <a href="https://www.businessinsider.com/google-quantum-computing-chip-ibm-2017-6">tested qubit processors as it pursues the technology.</a> Microsoft is working on creating <a href="https://www.businessinsider.com/microsoft-hybrid-quantum-computer-2015-10">hybrid quantum computers, which combine the new technology with more conventional processors. </a>Intel, too has been working on making big bets on quantum computing chips. Get the latest IBM stock price<a href="http://markets.businessinsider.com/stock/ibm-Quote"> here.</a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/marie-kondo-on-organizing-your-home-2016-1">Japanese lifestyle guru Marie Kondo explains how to organize your home once and never again</a></h3> <div> </div> </div>

IBM unveils the world's first quantum computer that businesses can actually use to solve previously impossible problems

<keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword> has acquired <keyword id="6388367" type="COMPANY" weightage="60" keywordseo="Jabong">Jabong</keyword> through <keyword id="319719" type="COMPANY" weightage="40" keywordseo="Myntra">Myntra</keyword> at around $70 million. It has trumped potential competition from several firms, including <keyword id="541988" type="COMPANY" weightage="40" keywordseo="SnapDeal">Snapdeal</keyword>, <keyword id="44949" type="CITY" weightage="60" keywordseo="Future-group">Future Group</keyword>, Aditya Birla Group and Amazon. This move might preserve the Indian <keyword id="35621" type="UNKNOWN" weightage="60" keywordseo="e-commerce">e-commerce</keyword> player’s ‘No.1 e-commerce marketplace’ tag, but there are lingering questions about whether it will do it any good. 
 
There is no denying that this sale marks one of the sharpest drops in Indian e-commerce history. Jabong was valued at over $50 million by the end of 2013, and was registering sales of over Rs. 450 crores. Even as its sales saw a 2X hike last year, the funding crunch, market share loss and management issues became too over-bearing. 
 
That doesn’t seem to bother the folks at Flipkart. 
 
“Fashion and lifestyle is one of the biggest drivers of e-commerce growth in India. We have always believed in the fashion and lifestyle segment and Myntra’s strong performance has reinforced this faith,” Binny Bansal, co-founder of Flipkart said. 
 
“This acquisition is a continuation of the group’s journey to transform commerce in India. I am happy that we will now be able to offer to millions of customers a wide variety of styles, products and a broad assortment of global as well as Indian brands,” he added. 
 
After this deal, Myntra and Jabong will have a combined base of 15 million monthly active users, and an assortment of global brands exclusive to both the platforms. That seems to work in the deal’s favor. 
 
“Good move by Flipkart. They have taken down a potentially strong competitor. A major part of why Jabong wasn’t doing well was because Rocket Internet had issues with governance”, Arvind Singhal, Chairman and Managing Director of Technopak said. 
 
The move is a part of Rocket Internet's strategy to exit its India portfolio companies. The German Internet firm had earlier sold iff its online home furniture store FabFurnish to Future Group, which also owns HomeTown. 
 
“When you buy off a loss-making company, you don’t have to deal with inflated valuations. You are paying a lower price. People usually do it to expand their consumer base.” Sandeep Ladda, Partner and National Leader of Technology and eCommerce at PwC India said. 
 
India’s startups have seen a slew of acquisitions in the last few months. CaratLane was acquired by Titan and BlueStone is now being funded by other investors. What more, Jabong was valued at over $500 million just 3 years back, and was looking to raise money at $250 million last year. In comparison, $70 million seems like a deal. 
 
Singhal couldn’t agree more. “Flipkart will have to rise beyond mobile and consumer electronics if it has to be profitable. Fashion is a promising category. We might see more such acquisitions. This isn’t the first one, and it sure won’t be the last.” 
 
<a href="https://cdn.psychologytoday.com/sites/default/files/field_blog_entry_images/Leadership_and_Power.jpg">Image Source</a>

Myntra’s Jabong acquisition will
boost Flipkart in more ways than one

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Transposit; RealityEngines.AI; Lucidchart; Coda; Yutong Yuan/Business Insider</div></div></div>Hello!After working at one of the largest tech companies in the world, many Googlers get the itch to leave and start their own companies. Rosalie Chan this week profiled 20 of the hottest enterprise startups of 2019 founded by Xooglers, as for Googlers are known. You can <a href="https://www.businessinsider.com/20-enterprise-startups-former-google-employees-2019-6">check that list out right here</a>. And you can find our full list of the <a href="https://www.businessinsider.com/startups-to-watch-here-are-the-startups-vcs-are-betting-on-in-every-corner-of-tech-2019-4">startups VCs are betting on in every corner of tech here</a>.Elsewhere in the startup world, Shona Ghosh and Charlie Wood published this <a href="https://www.businessinsider.com/european-venture-capital-investors-tech-founders-need-to-know-2019-7">list of the 32 star venture capital investors in Europe every tech founder needs to know</a>. And the BI team published a number of VC interviews this week. Here's a selection:<ul><li><a href="https://www.businessinsider.com/citi-ventures-vc-need-for-speed-softbank-funding-era-2019-7">This VC says the cut-throat hunt to beat SoftBank to the hottest startups means funds need to be faster than ever</a></li><li><a href="https://www.businessinsider.com/steve-jurvetson-vc-member-of-elon-musk-spacex-board-asks-1-question-2019-7">A VC on Elon Musk's SpaceX board says founders who can't answer this question might miss out on millions in funding</a></li><li><a href="https://www.businessinsider.com/vc-mark-boggett-seraphim-capital-on-100-firms-space-tech-funding-2019-7">Here's why 100 tech firms a month are asking this VC to fund their ventures into space - 'It was a eureka moment for us'</a></li></ul>Business Insider also hosted its first BI Prime webinar this week, with Henry Ward, founder of $1.7 billion startup Carta, talking through the pitch decks that helped him raise almost $450 million. You can watch a replay <a href="https://zoom.us/recording/play/tBjtUORs3I2kDXG2vWknGL25pjBg5yYw-HBqzOMv-R4MdwVxpsXHakNND0FmRsm5?startTime=1562864502000">right here</a>.And you can find our pitch deck library, showcasing early pitchdecks for companies ranging from <a href="https://www.businessinsider.com/airbnb-a-13-billion-dollar-startups-first-ever-pitch-deck-2011-9?r=slide-library">AirBnB</a> to <a href="https://www.businessinsider.com/uber-original-pitch-deck-shows-evolution-ipo-2018-12?r=slide-library">Uber</a>, <a href="https://www.businessinsider.com/pitch-decks-that-helped-hot-startups-raise-millions-2019-4">right here.</a>One final note before I go. If you haven't seen it already, my colleagues at Insider, our lifestyle and general news sister site, hired the <a href="https://www.insider.com/mueller-report-rewritten-trump-russia-mark-bowden-archer-2019-7">author of "Black Hawk Down" and an illustrator from "Archer" to adapt the Mueller report so you'll actually read it</a>. Enjoy!<section>-- Matt</section><h2>Quote of the week</h2>"If you look at the numbers needed to achieve to current valuations, they're absurd. They're staggering." - Leo Kelly, CEO of Verdence Capital, which manages $2 billion for professional athletes and the ultra-wealthy, on <a href="https://www.businessinsider.com/money-management-advice-strategy-from-leo-kelly-verdence-capital-advisors-2019-7">why he's avoiding unicorn IPOs</a>. <h2>In conversation</h2><ul><li>Akin Oyedele talked to Jean Boivin, the global head of research for the BlackRock Investment Institute, about why the stock market's principal driver just changed, <a href="https://www.businessinsider.com/blackrock-stock-market-outlook-midyear-investing-advice-jean-boivin-2019-7">and how investors should adjust to the shift</a>.</li><li>Charlie Wood talked to Manoj Saxena, who was the first general manager of IBM Watson. Saxena, who is now chairman of AI Global, a nonprofit that encourages responsible AI design, said humans <a href="https://www.businessinsider.com/former-ibm-chief-manoj-saxena-issues-ai-warning-2019-7">figuring out AI is like "children playing with bombs."</a></li><li>Ben Pimental talked to Arvind Krishna, an IBM senior vice president who is leading the company's cloud initiatives, about why IBM's $34 billion Red Hat purchase, <a href="https://www.businessinsider.com/ibm-red-hat-34-billion-purchase-biggest-deal-ever-2019-7">gives it an advantage in the "trillion dollar" hybrid cloud market</a>.</li><li>Ashley Rodriguez talked to Laura Evans, who joined Disney last year from The New York Times as senior vice president of data, about how <a href="https://www.businessinsider.com/disney-execs-on-espns-streaming-recommendation-engine-algorithms-2019-7">ESPN Plus is helping build a weapon to fight Netflix.</a></li><li>Amanda Perelli talked to Steven Galanis, CEO of Cameo, which lets you buy personalized video messages from celebs, <a href="https://www.businessinsider.com/ceo-of-cameo-interview-on-global-expansion-funding-raise-politicians-2019-7">about global expansion plans and trying to get politicians on the platform</a>.</li><li>Emma Court and Lydia Ramsey talked to David Schenkein and Krishna Yeshwant, who lead the life sciences team at GV, formerly Google Ventures, about their plan <a href="https://www.businessinsider.com/gv-life-sciences-leaders-on-investing-in-pharma-clinical-trials-2019-7">to upend the costly, time-consuming process of making new drugs</a>.</li><li>Lydia also talked to Todd Latz, the CEO of urgent care company GoHealth, who oversees 126 clinics across the country, <a href="https://www.businessinsider.com/gohealth-ceo-todd-latz-future-of-urgent-care-challenges-threats-2019-7">about the four</a><a href="https://www.businessinsider.com/gohealth-ceo-todd-latz-future-of-urgent-care-challenges-threats-2019-7"> top threats facing the business</a>.</li><li>Sherin Shibu talked to Mark Hoplamazian, CEO and president of Hyatt Hotels Corporation, about the simple equation <a href="https://www.businessinsider.com/hyatt-ceo-mark-hoplamazian-equation-for-hiring-management-and-firing-2019-7">that underlies his management, hiring, and firing strategies</a>.</li></ul><h2>Finance and Investing</h2><section><a href="https://www.businessinsider.com/leon-blacks-foundation-says-epstein-resigned-2019-7">Private-equity guru Leon Black's family foundation is scrambling to distance itself from sex-offender Jeffrey Epstein, but it's raising more questions</a>Apollo Global Management CEO Leon Black and his family foundation are <a href="https://www.businessinsider.com/jeffrey-epstein-was-director-of-leon-blacks-foundation-for-10-years-2019-7">disputing media reports linking the charity to convicted sex offender Jeffrey Epstein</a>.<a href="https://www.businessinsider.com/ray-dalio-talks-about-hedge-fund-succession-planning-2019-7">Bridgewater's Ray Dalio struggled with finding his successor. For billionaire hedge funders, it's a growing concern.</a>Hedge funds have long been nearly synonymous with their founders' strategies and personalities, but investors are now looking closely at firms' plans to carry on without their creators at the helm.<a href="https://www.businessinsider.com/james-holzhauer-jeopardy-strategy-success-using-new-approach-to-risk-2019-7">He smashed 'Jeopardy!' records on the way to winning $2.5 million. Now champion James Holzhauer reveals to us the secret to his strategy.</a>Taking risks with money is challenging for a lot of people. Betting $10,000 on television would probably be out of the question.</section><h2>Tech, Media, Telecoms</h2><section><a href="https://www.businessinsider.com/deliveroo-will-shu-profile-amazon-2019-7">The 100-hour weeks, intense culture, and divisive hires that made Deliveroo a $2 billion business with backing from Amazon</a>Food delivery startup Deliveroo is one of the UK's fastest-growing and most promising firms.</section><a href="https://www.businessinsider.com/cloudera-ceo-resigns-tom-reilly-open-source-red-hat-2019-7">As its CEO prepares to step down, $1.4 billion Cloudera says it will start giving away all its software for free in a big change to its business</a>Cloudera has already seen some big changes this year.<a href="https://www.businessinsider.com/netflix-buys-the-rock-heist-movie-red-notice-details-budget-2019-7">What Netflix buying The Rock's $130 million heist movie, 'Red Notice,' says about its evolving movie strategy</a>Netflix has just grabbed a movie with three of the biggest stars in the world attached to it.<h2>Healthcare, Retail, Transportation</h2><section><a href="https://www.businessinsider.com/cbd-companies-getting-creative-to-skirt-facebooks-cannabis-ad-ban-2019-7">CBD and hemp startups are using creative loopholes to skirt Facebook's ad ban. Here's how they're doing it.</a>When former journalist James Higdon founded Cornbread Hemp, a Kentucky-based CBD producer, he knew that getting in front of customers was crucial.<a href="https://www.businessinsider.com/home-depot-executive-home-decor-millennial-strategy-2019-7">Home Depot execs reveal why the retailer is doubling down on home decor, how it built billion-dollar brands, and what it got wrong about millennials</a>In a bid to become a one-stop-shop for customers looking to spruce up their abodes, Home Depot is doubling down on decor.<a href="https://www.businessinsider.com/why-lyft-investor-autotech-ventures-wont-touch-scooter-companies-2019-7">An early Lyft backer has invested in self-driving cars, artificial intelligence, robotic farm equipment, and more. Here's why he won't touch scooter startups.</a><a href="https://www.businessinsider.com/category/autotech-ventures">Autotech Ventures</a>, a San Francisco-based firm with a portfolio valued at nearly $200 million, has made investments in almost every segment of the red-hot transportation space.</section>Get the latest Google stock price<a href="http://markets.businessinsider.com/stock/GOOG-Quote"> here.</a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/giant-squid-emerges-deep-sea-rare-sighting-japan-toyama-bay-2015-12">Watch a diver swim right next to a 12-foot giant squid in Japan</a></h3> <div> </div> </div>

Hot startups from former Googlers, Jeffrey Epstein's Wall Street connections, and CBD loopholes

In India, we have engineers and MBAs in abundance. All thanks to numerous institutes in the country that students get the chance to pursue these professional courses at. 
 
However, all institutes don’t have great placement rates. Students of top institutes prove to be the luckiest. Take for instance the case of MDI, IIFT and other top <a href="http://www.businessinsider.in/searchresult.cms?query=B-schools">B-schools</a>. This year, their students got placed in the first two days of the summer placement session; companies which came in later had to return bare-handed. 
 Kanwal Kapil, Associate Professor &amp; Chairperson- Placements at <keyword id="481185" type="ORGANIZATION" weightage="20" keywordseo="Management-Development-Institute">Management Development Institute</keyword> (MDI), Gurgaon shares, "Companies have been so upbeat on hiring that this was waiting to happen. By noon on the third day, all our students had been placed. For the human resource programme, it was over on the first day itself. We had to send back the companies slotted over the next couple of days.” 
 
Not just at MDI, but other leading business institutes including Indian Institute of Management (IIM) Kozhikode, XLRI Jamshedpur and the Indian Institute of Foreign Trade (IIFT) in Delhi were confident about business prospects. 
 
The sectors taking the lead so far were: investment banks,<a href="http://www.businessinsider.in/searchresult.cms?query=+eCommerce+companies"> eCommerce companies</a> and consumer goods makers, who look forward to an augmentation as India retains its place of world’s fastest growing economy. 
 
This year placements were completed in a record time of 3-7 days. 
 "Most companies across sectors have hiked stipends," shared Rajul Mangal, placement committee member at IIM-Kozhikode. The percentage increase is observed somewhere between 20-50%. <keyword id="63460" type="CITY" weightage="20" keywordseo="JP-Morgan">JP Morgan</keyword> Chase is paying Rs 5 lakh at XLRI Jamshedpur for a two-month internship. 
 Boston Consulting Group and Reckitt Benckiser are paying Rs 3 lakh each at IIM-Kozhikode and MDI Gurgaon. <keyword id="48670" type="CITY" weightage="20" keywordseo="Morgan-Stanley">Morgan Stanley</keyword> is paying Rs 4 lakh at Faculty of Management Studies (FMS) Delhi while at IIFT, average stipends are up by 30% from last year. 
 Sources informed that <keyword id="6361649" type="CITY" weightage="20" keywordseo="Goldman-Sachs">Goldman Sachs</keyword> and American Express have also increased stipends to Rs 2 lakh from Rs 1.5 lakh for two months. Hindustan Coca-Cola Beverages has raised it to Rs 1.5 lakh from Rs 75,000 and Tata Steel to Rs 1 lakh from Rs 50,000. 
 
L'Oreal is paying Rs 1.6 lakh, up from Rs 1.2 lakh, and Arvind Lifestyle is paying Rs 1 lakh versus Rs 70,000 last year. 
 The number of offers too have increased as Microsoft, RPG, American Express, JP Morgan Chase and <keyword id="6357341" type="CITY" weightage="20" keywordseo="Deutsche-Bank">Deutsche Bank</keyword> have all made 60-100% more offers at IIM-Kozhikode than previous year. 
 
With the highest recruit ever, Accenture Strategy hired 12 interns at FMS Delhi. 
 New recruiters on campuses included the Bill and <keyword id="131379" type="PERSON" weightage="20" keywordseo="Melinda-Gates">Melinda Gates</keyword> Foundation, Shell, Ola Cabs and Quikr at XLRI; <keyword id="270433" type="COMPANY" weightage="20" keywordseo="Anheuser-Busch-InBev">Anheuser-Busch InBev</keyword> and Dr Reddy's at FMS Delhi; Edelweiss and Glenmark Pharma at MDI; and Marico and GSK Consumer at IIFT. 
 Surprisingly, IIFT got 12 international offers for internships this year, up from eight last year. International recruiters included the World Trade Organisation (WTO) and the Organisation for Economic Co-operation and Development (<keyword id="6356984" type="ORGANIZATION" weightage="20" keywordseo="OECD">OECD</keyword>). 
Image: thinkstock

Here’s where top management schools are sending their students this year

Many <keyword id="35450" type="COMPANY" weightage="40" keywordseo="insurance">insurance</keyword> companies are offering maternity covers as a part of their regular health policies these days. Earlier, maternity benefits were extended only as a part of employers’ corporate health insurance policies. 
 However, companies like ICICI Lombard, <keyword id="6395721" type="COMPANY" weightage="40" keywordseo="Max-Bupa">Max Bupa</keyword> and <keyword id="6369255" type="PERSON" weightage="80" keywordseo="Apollo-Munich">Apollo Munich</keyword> have started offering this cover, with sub-limits ranging from Rs 15,000-50,000. However, these products are costly and have a long waiting period of up to six years. 
 
Does it make sense to buy them? “Individuals can buy maternity cover if their employer’s insurance doesn’t cover it. Even selfemployed people should consider buying it. However, they should evaluate whether the cost and waiting period, after which such a cover is available, are reasonable,” says Arvind Laddha, CEO, Vantage Insurance Brokers. 
 
What Does it Cover? 
 
Maternity cover takes care of expenses related to delivery (normal and caesarean section) or the lawful medical termination of pregnancy during the policy period. However, there could be conditions limiting the number of deliveries or terminations, either during the lifetime of the insured person or the policy period, says Antony Jacob, CEO of health insurer Apollo Munich. Pre and post-natal expenses per delivery or termination are also covered. 
 
Depending on the insurer and the product variant, WHO-approved vaccinations and medical treatment for the new born till 90 days or the next renewal will also be paid for. If your policy entitles you to daily cash hand-outs, you can use it to take care of your sundry expenses too. “If the insured person chooses the room type wisely, an additional sum as daily hospital cash can be used for other related expenses like medicines,” says Jacob. 
 
According to Max Bupa, a rise in maternity claims points to the relevance of the policy. “We have noted an almost 50% increase in claims related to maternity in the last year. 
 
Coverage for maternity-related expenses is gaining importance with increase in medical costs as well as maternal age and greater incidence of lifestyle diseases that may lead to complications at the time of pregnancy,” says Manasije Mishra, CEO, Max Bupa. 
 
Sanjay Datta, chief, underwriting and claims, ICICI Lombard General Insurance, also believes that the policy is worth its premium because “it not just takes care of the hospitalisation costs, but also the insured’s pre and post-natal expenses.” 
 
The company’s claim figures indicate a sharp increase in maternity claims in 2013. 
 
While delivery-related claims went up by 36.52% from 2012, claims paid out for treatment of complications in new born babies shot up by nearly 46%. 
 
Read the Fine Print 
 
“Generally, maternity covers are restricted to maximum 10% of the overall sum insured and the cover is available only in the third year of continuous coverage. Waiting periods extend to over two years. The insured should evaluate whether the premium is worth the benefit of taking this cover,” says Laddha. 
 
Prospective buyers should examine sub-limits, or ceiling, for maternity cover closely. Most insurers impose caps of Rs 15,000-25,000 for normal deliveries and Rs 30,000-Rs 50,000 for Caesarean section deliveries. 
 
Similarly, admissible preand post-natal expenses, too, could be limited to Rs 1,500-5,000. Waiting period — when maternity benefits are not paid — usually ranges from two to six years. “If the waiting period is low, there is a higher cost associated with the plan,” says Jacob. 
 
Policies that offer maternity covers are still costlier than regular ones. For example, under Max Bupa’s family floater product, the annual premium for a 30-year-old woman seeking a cover of Rs 5 lakh with maternity benefits will be Rs 14,816 (in a family of two adults). Without this component, it will be cheaper by around Rs 2,000-3,000. Similarly, in case of ICICI Lombard, the floater cover without maternity benefits will be cheaper by around Rs 7,000, while the difference is Rs 1,000 under Apollo Munich’s individual policy.

With Rising Costs, It May Pay To Buy A Separate Maternity Cover

What could be the better bargain period than this when India's three biggest online market places – <a href="http://www.businessinsider.in/searchresult.cms?query=Flipkart%2C+Snapdeal+">Flipkart, Amazon India and Snapdeal</a> - touted discounts of as much as 80% during this festive season? 
 Alas! The enthusiasm of early birds was dampened somewhat as there were few eye-popping deals on the first day on <keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword> or Amazon India on the latest gadgets and fashion brands. 
 
But brands were relieved that their efforts to rein in price cuts had worked, confirming the trend of <a href="http://www.businessinsider.in/searchresult.cms?query=e-Commerce+firms+">e-Commerce firms</a> moving away from extravagant discounts. 
 
Instead they are focussing on better financials. 
 According to industry executives, deep discounts were available on online only and e-Commerce-focused products such as those made by <keyword id="71696" type="COMPANY" weightage="60" keywordseo="Micromax">Micromax</keyword>, Onida, BPL and <a href="http://www.businessinsider.in/searchresult.cms?query=Motorola">Motorola</a>, and on older models of gadgets and smartphones. 
 
And a similar trend was witnessed in <a href="http://www.businessinsider.in/searchresult.cms?query=apparel+and+accessories">apparel and accessories</a>. This marked a sharp departure from last year, when the latest models of <keyword id="6354606" type="COMPANY" weightage="60" keywordseo="iPhone">iPhone</keyword>, <keyword id="173725" type="ORGANIZATION" weightage="80" keywordseo="Samsung-Galaxy">Samsung Galaxy</keyword> phones and Sony televisions were on sale. The e-Commerce firms offered maximum discounts on their in-house apparel brands where margins are twice that of other clothing. "None of our fresh merchandise is on discount except old or last-season stock," said J Suresh, chief executive of Arvind Lifestyle Brands, which sells brands such as Gap, US Polo, Wrangler and Calvin Klein. 
 Lets’ know how the big three – <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword>, Flipkart and Amazon India – planned to rob customers this year! 
 
1. Conservative Approach: These companies are more conservative this year, ordering about 1.2 times the normal stock for the discount period unlike last year when they were targeting to grow sales by five times. "The focus is surely on margins and profitability," Suresh said. 
 
The chief of a leading shoe brand said deep discounting of 60-80%, which is usually offered during end-of-season sales by the ecommerce firms, was missing on the first day. "The madness was not there and even I was expecting good deals on international brands for my personal purchase where discounts were hardly 4-10%," he said, requesting anonymity. The absence of deep discounts on the hottest items is good news for brick and mortar retailers, who have been suffering on account of lower prices online. 
 
2. The Big E-tailing Rivalry: After Flipkart announced the October13-17 campaign, Amazon and Snapdeal announced similar exercises—a point that a company executive brought up. "Random thought: Checked out TOI. Looks like we set the dates for when others do their festival sales :)! Go BBD!," Flipkart chief product officer Punit Soni tweeted. Rohit Bansal, cofounder of Snapdeal, tweeted: "Looks like India has chosen @snapdeal as the app of their choice this festive season!" 
 
Flipkart said it "saw 25 items sold per second." The company said 10 lakh products were sold in the first 10 hours with 6 million visits from across the country. "This is pushing the limits, the volumes are much higher than last year," said Naman Sarawagi, cofounder and CEO of FindYogi, a chat-based shopping assistance app. 
 
On Monday, Snapdeal said that it sold five mobile phones every second as it racked up total sales of $100 million. Amazon India claimed that the first day of the festive sales was the biggest day in its history, four times bigger than the peak of last Diwali. Traffic from mobile was over 70% and lakhs of new customers came from cities like Aurangabad, Malappuram, Dhanbad, Kannur, Tiruchirappalli, Jamshedpur and others. 
 3. Ambulance On Standby: Most visitors were from cities like <keyword id="6354321" type="CITY" weightage="40" keywordseo="Bengaluru">Bengaluru</keyword>, Delhi and Chennai. Ludhiana, Lucknow and Bhopal were among the top cities from non-metros, said Flipkart, where employees have been working round the clock to keep systems stable. Flipkart set up shuttle services for employees to be picked up and dropped and even put an ambulance and masseurs on standby. 
 
"With over 20 million visits from across the country on the first day, the fashion sale has been a big hit amongst our customers. For electronics - it will be even bigger on 15th October as we have lined up a range of smartphone launches for our customers from brands like <a href="http://www.businessinsider.in/searchresult.cms?query=Google">Google</a>, <keyword id="11148" type="CITY" weightage="60" keywordseo="Motorola">Motorola</keyword>, <keyword id="6357456" type="CITY" weightage="80" keywordseo="Huawei">Huawei</keyword>, Intex and Micromax. All these new launches will have aggressive launch and exchange offers along with exciting bank discounts," a Flipkart spokesperson said. 
 
About 1.5 million shoppers bought goods worth over $100 million from Flipkart during the sale in 2014 but the site stuttered as a large number of people sought to access the site. This year's Billion Days sale is expected to be five times in size, according to one Flipkart employee who requested anonymity. 
 Amazon and Flipkart started their festive season sales on Tuesday while Snapdeal kicked things off on Monday. Discounts were attractive on online-exclusive smartphone brands such as Motorola, <keyword id="874458" type="COMPANY" weightage="80" keywordseo="Xiaomi">Xiaomi</keyword>, Yu Yuphoria and <keyword id="2210217" type="UNKNOWN" weightage="60" keywordseo="oneplus">OnePlus</keyword> 2. Price cuts were also offered on baby products, general merchandise, home decor and personal care products. The sale will carry on until the end of the week. 
 
Flipkart said there had been a surge in app downloads in anticipation of the sale. 
 
"It's great to see 1.6 million app installs in the last two days, which is a great indicator that India has been preparing well for The Big Billion Days," said Mukesh Bansal, head of commerce platform at Flipkart. The sale was off to a relatively glitch-free start. Flipkart, which was hit by glitches last year owing to heavy traffic, has staggered its app-only discounted sales over five days, across various categories such as fashion, home appliances, electronics and books. 
 
(Image: Indiatimes)

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