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<keyword id="557690" type="UNKNOWN" weightage="100" keywordseo="L-Capital">L Capital</keyword> is exiting <keyword id="2657760" type="UNKNOWN" weightage="80" keywordseo="Fabindia-Overseas">Fabindia Overseas</keyword> with over 100% returns and <keyword id="648852" type="COMPANY" weightage="100" keywordseo="Premji-Invest">Premji Invest</keyword> has bought its 8% stake for nearly Rs 360 crore.<br />
<br /> L Capital, the private equity arm of leading luxury goods conglomerate Louis Vuitton MoHennessy (LVMH), had bought 8% stake in <keyword id="6492243" type="COMPANY" weightage="100" keywordseo="Fabindia">Fabindia</keyword> in 2012 for nearly Rs 150 crore.<br />
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Meanwhile, Premji Invest was ahead of other private equity investors to buy the 8% stake.<br />
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Fabindia has over 200 stores across 79 locations, having customer base of three million.<br />
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Ravi Thakran, chairman of L Capital Asia, had said Genesis Luxury and Fabindia demonstrated strong revenue growth.<br />
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Reportedly, in October 2015, LVMH registered an 18% increase in global revenue, reaching 25.3 billion euros, for the first nine months of 2015.<br />
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<em>(Image credits: Thinkstock)</em><br />
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Premji Invest buys 8% of exiting L Capital’s stake in Fabindia

<br /> <keyword id="557690" type="UNKNOWN" weightage="100" keywordseo="L-Capital">L Capital</keyword>, the private equity arm of world's largest luxury goods conglomerate <keyword id="382718" type="PERSON" weightage="100" keywordseo="Louis-Vuitton-Moet-Hennessy">Louis Vuitton Moet Hennessy</keyword> (LVMH), is planning to sell its stake in the Indian ethnic wear retailer <keyword id="2657760" type="UNKNOWN" weightage="100" keywordseo="Fabindia-Overseas">Fabindia Overseas</keyword>.<br />
<br /> L Capital is looking at $100 million (Rs 660 crore) for its 8% holding in the unlisted Indian company, which is roughly more than four times the investment that it had made in 2012. In 2012, L Capital bought this stake from Wolfensohn Capital Partners for Rs 150 crore, when the company was valued at Rs 1,875 crore. If L Capital gets the price that it’s aiming for, <keyword id="6492243" type="COMPANY" weightage="100" keywordseo="Fabindia">Fabindia</keyword> will be valued at about Rs 8,200 crore.<br />
<br /> So far, the company has contacted at least four potential buyers, viz. <keyword id="6367519" type="PERSON" weightage="100" keywordseo="Temasek">Temasek</keyword> (owned by Singapore government), and PE firms <keyword id="76015" type="CITY" weightage="100" keywordseo="Actis">Actis</keyword>, <keyword id="218609" type="COMPANY" weightage="100" keywordseo="Apax-Partners">Apax Partners</keyword> and the <keyword id="44803" type="CITY" weightage="100" keywordseo="Carlyle-group">Carlyle Group</keyword>.<br />
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Talking of Fabindia, it has more than 200 stores in 79 locations, while being based in Delhi. The customer base of 3 million is intended to be increased to 10 million in coming four years.<br />
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Fabindia was the only Indian firm in which L Capital had an investment. As of now, there are no announcements of it investing in any India-based firm.<br />
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<a href="https://lh3.googleusercontent.com/-qpVGFZnEJXI/VR9pXBOc-QI/AAAAAAAAKaA/32fao-v4Z0I/w800-h800/fab-india-store-goa.jpg"><em>Image source</em></a><br />

Louis Vuitton is selling its stake in Fabindia

Are you an avid credit card user? Are you up to speed with all the changes that have come into effect starting today, which is all set to impact your credit card usage, and your pocket. Here's a quick snapshot of all the changes that you should be well aware of: <br /><br /><h2><keyword id="19900482" type="General" weightage="20" keywordseo="ICICI-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="ICICI Bank" meta.hostid="261" meta.entityid="ICICI Bank">ICICI Bank</keyword><br /></h2>Starting today, ICICI bank has done away with fees for many services, which include request for a charge slip, which was earlier chargeable at Rs 100/slip and cash and cheque pick up, which also carried a fee of Rs 100 earlier. <br /><br />Earlier, for outstation cheque processing and duplicate bank statement (for three months), a fee of Rs 100 was payable. Now, all those charges have been waived. However, going ahead, you'll have to dish out Rs 200 instead of Rs 100, if you wish to get your credit card replaced. <br /><br /><h2><keyword id="19952948" type="General" weightage="20" keywordseo="Axis-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="Axis Bank" meta.hostid="261" meta.entityid="Axis Bank">Axis Bank</keyword></h2>If you hold a <keyword id="19941660" type="General" weightage="20" keywordseo="Citibank" source="keywords" meta.keywordsubtype="org" meta.entityname="Citibank" meta.hostid="261" meta.entityid="Citibank">Citibank</keyword> credit card, this is for you. The migration of all Citibank <keyword id="19953671" type="General" weightage="100" keywordseo="credit-cards" source="keywords">credit cards</keyword> to Axis bank will be complete by 15th July, 2024. Post that, you will receive new credit cards from Axis bank .However, until then, your existing Citibank cards will continue to work just fine. All your unredeemed points will be converted into EDGE miles. After migration, they will have an expiration period of 3 years. <br /><br />Starting today, RBIs new rules mandate that all credit card transactions in the country be processed through <keyword id="20779381" type="General" weightage="20" keywordseo="Bharat-Bill-Payment-System" source="keywords">Bharat Bill Payment System</keyword> (BBPS). This means that if your bank has not come on board with BBPS, you will not be able to make payment through their credit card on other third-party platforms. Out of 34 banks that can issue credit cards, 12 banks have come onboard the BBPS. These include SBI, <keyword id="19938728" type="General" weightage="20" keywordseo="kotak-mahindra" source="keywords">Kotak Mahindra</keyword>, IndusInd, Federal, HDFC, ICICI and IDFC bank. Indian Overseas bank and <keyword id="45660" type="General" weightage="20" keywordseo="yes-bank" source="Orion">YES Bank</keyword> are expected to go live soon.<br /><br /><br /><h2>SBI Bank</h2>Starting July 15th, if you hold one of the 22 specified SBI credit cards, you will no longer accrue any reward points while making certain transactions, particularly if they are related to government services. These include Air India SBI Platinum Card, Air India SBI Signature Card, Central SBI Select+ Card, Chennai Metro SBI Card, Etihad Guest SBI Card, Fabindia SBI Card SELECT, IRCTC SBI Card, Mumbai Metro SBI Card and more. <br /><br /><h2>YES Bank<br /></h2>If you hold a YES Bank credit card, the criteria for you to qualify for complimentary lounge access has changed. Starting today, you will have to spend at least Rs 35,000 from your credit card in the previous quarter, in order to be able to get a complimentary access to domestic airport lounges in the next quarter. Earlier, this threshold was set at Rs 10,000. This will  impact YES Marquee, YES SELECT, YES Reserv, YES First Preferred, YES Bank ELITE, YES BYOC, and YES Wellness Plus cards. <br /><br /><h2>HDFC Bank</h2>Starting August 1st, if you make rent, or education related payments via platforms like Cred and Paytm, you will have to pay a fee of upto 1% of the transaction, which will be a maximum of Rs 3,000. However, if you make the payment directly through your school or college's website, you will be able to save on this charge. Similarly, on all fuel expenses of over Rs 15,000, a 1% fee will be applied, which can be a maximum of Rs 3,000. <br /><br /><br />

What has changed for your credit cards, starting today?

<ul><li>Controversies have always been a part of the advertising industry and the year 2021 was no different.</li><li>The year was full of ups and downs and a lot of brands landed in trouble for hurting religious sentiments through their campaigns.</li><li>We look at the year gone by and some brand controversies that erupted in India.</li></ul>2021 was bitter-sweet for the Indian advertising industry. This year gave us beautiful campaigns such as Cadbury’s remake of the famous stadium ad with the wonderful jingle Kuch Khaas hai, CRED’s Indiranagar Ka Gunda that still continues to appear in memes on the internet, Bhima’s Pure as Love ad that challenged the status quo, to mention a few. However, it was also a year full of controversies. Many brands landed themselves in trouble and numerous campaigns had to be pulled off.<br /><br />It is not too difficult today for a small tweet to snowball into a boycott trend, something that is every marketers’ and agency’s nightmare. At the same time, when brands have a presence on social media, they start having an opinion or a voice. If brands err on the side of caution, they are simply selling products to consumers and not engaging with them on a personal level. There will always be users who support the brand for standing up and fighting for causes they believe in but there will also be those who would oppose them at the slightest disagreement. GenZ is also becoming increasingly aware of how advertising works and is able to separate grey from black. They view brands as a form of self-expression and to connect with them, brands are also expected to go beyond just selling their products. They are known to connect with brands that they feel are socially and environmentally conscious. So, while many experts advise brands to steer clear of religious topics or make any political statements, there’s also pressure on brands and companies to take firm stands on issues that matter to these young consumers. <br /><br />As brands try to find the balance between making the right statement and offending a majority in the coming year, here are a few brands who found themselves in troubled waters this year:<br /><br /><strong>Manyavar</strong><br /><br />Bridal wear brand Mohey had released a commercial that aimed to offer a fresh perspective to the Hindu wedding ritual 'Kanyadaan.' With its campaign featuring Alia Bhatt, Mohey promoted women empowerment and gave a more gender-sensitive touch to the age-old tradition of ‘Kanyandaan’ in Hindu weddings and insisted on bringing in ‘Kanyamaan’ instead. <br /><br />“Through the film, Mohey’s brand ambassador Alia Bhatt questions the conventional beliefs that require a daughter to conform to being ‘given away’ at her wedding. She makes a choice on her wedding day to rethink rituals, stating what Kanyadaan means in modern times, making it more equal and progressive for her present and future generations,” explained its press release.<br /><br />However, this campaign did not sit well with Twitter users. It flared up a controversy on social media and the hashtag #BoycottManyavar started trending on Twitter. The trolls slammed the ad for mocking Hindu traditions.<br />    <div type="Youtube" id="PmCSjllj7KU" title="Tradition wahi, soch nayi - #KanyaMaan" thumbUrl="https://i.ytimg.com/vi/PmCSjllj7KU/mqdefault.jpg"></div><br /><strong>Cadbury beef row</strong><br /><br />Mondelez India had found itself in a soup too after a few screenshots surfaced on Twitter suggesting that its Cadbury Dairy Milk may contain gelatine derived from beef. Trolls were quick to call for a boycott on all Mondelez products but some users even pointed out that the screenshot being shared is that of Cadbury Australia’s website.<br /><div type="twitter" handle="DairyMilkIn" handlename="Cadbury Dairy Milk" image="http://pbs.twimg.com/profile_images/1327255370444668928/1NjkNhJE_normal.jpg" favoritecount="963" retweetcount="241" status="https://t.co/798qgPozsF" createdat="1626616484000" id="1416758336909840387"></div><br />The chocolate and snacks giant later clarified that its products in India are all vegetarian. It said that the screenshots circulated were of the company’s products sold overseas. <br /><br /><strong>FabIndia</strong><br /><br />Clothing brand FabIndia was criticised for its collection named 'Jashn-e-Riwaaz.' Twitterati alleged that the campaign purposely tried to hurt religious sentiments by associating the name ‘Jashn-e-Riwaaz’ with Diwali, a Hindu festival. They even had a problem with women not wearing their badges of being married such as bindis, bangles and sindoor. <br /><br /><br /><br />Tejasvi Surya, MP and National President of the BJP Yuva Morcha had tweeted, “Deepavali is not Jash-e-Riwaaz. This deliberate attempt of abrahamisation of Hindu festivals, depicting models without traditional Hindu attires, must be called out. Brands like Fabindia must face economic costs for such deliberate misadventures.”<br /><br />Soon after that tweet, FabIndia deleted its post across social media and renamed its collection to ‘Jilmil-si-Diwali.’<br /><br /><strong>Sabyasachi</strong><br /><br />The designer brand was trolled heavily for allegedly hurting religious sentiments by promoting their ‘Royal Bengal Mangalsutra,’ which is a part of their Intimate Fine Jewellery line. The ace designer behind it, <keyword id="7202" type="General" weightage="20" keywordseo="sabyasachi-mukherjee" source="Orion">Sabyasachi Mukherjee</keyword>, decided to withdraw the campaign after it triggered an avalanche of online trolling for hurting religious sentiments. He retracted his campaign after Madhya Pradesh’s Home Minister Narottam Mishra issued a "24-hour ultimatum" and threatened to send the "police force."<br />    <div type="image" title="Sabya and mangalsutra ads" msid="88322071" hostid="261"></div><br /><strong>Dabur’s Fem</strong><br /><br />In the same week, Dabur’s Fem Cream Bleach advertisement stirred a boycott trend for showing a same-sex couple celebrating the Hindu festival of Karva Chauth. <br />    <div type="Youtube" id="-yu4_BIPkXU" title="Fem Ad on Karwa Chauth | Dabur Fem Controversial Ad | Viral Video" thumbUrl="https://i.ytimg.com/vi/-yu4_BIPkXU/mqdefault.jpg"></div><br /><strong>CEAT</strong><br /><br />CEAT Tyres was criticised for an ad featuring Aamir Khan in which the actor was seen advising people not to burst crackers on Diwali.<br />    <div type="Youtube" id="wm4kOghHQ24" title="Switch to CEAT SecuraDrive | Aamir Khan- Cricket" thumbUrl="https://i.ytimg.com/vi/wm4kOghHQ24/mqdefault.jpg"></div><br /><strong>Zomato</strong><br /><br />Zomato landed in a controversy in October after a customer from Tamil Nadu alleged he was denied a refund for a missing item in his order as he didn't know the ‘national language’ Hindi. Soon, a massive backlash followed on Twitter with many slamming the food delivery app for imposing Hindi on its customers. This also led to hashtags "Reject_Zomato" and "ZomatoSpeakTamil" trending on top.<br /><br /><strong>Fortune oil</strong><br /><br />When Sourav Ganguly, BCCI President and Former India Cricket Captain, suffered a mild heart attack in January, netizens happened to re-discover his old ad endorsing Fortune's Cooking Oil. It then triggered a slew of tweets and jokes with people questioning the effectiveness of the oil and also wondering how the brand will tackle this crisis.<br /><div type="twitter" handle="arifaajakia" handlename="Arif Aajakia" image="http://pbs.twimg.com/profile_images/1463855466463862798/ZR5EoEHM_normal.jpg" favoritecount="161" retweetcount="13" status="Dada, get well soon. We love you. You are a tiger, you will come back roaring. @SGanguly99 https://t.co/F5rkPAlmNE" createdat="1609734280000" id="1345949241093586946"></div><br />On Valentine’s day this year, the brand published an honest print ad clarifying that there are many factors that can affect our heart's health. Adani Wilmar’s Fortune rice bran cooking oil was the only brand that did not bow down to trolls. <br /><div type="twitter" handle="FortuneFoods" handlename="Fortune Foods" image="http://pbs.twimg.com/profile_images/1230878437541371904/69ad0EW2_normal.jpg" favoritecount="15" retweetcount="2" status="Dada made a healthy comeback, as he always does! Here's a 'heart' felt message from him on Valentine's Day. Let's h… https://t.co/Je2cGatoz8" createdat="1613277036000" id="1360808636755320837"></div><br />

You Searched For "Fabindia Overseas" and got 4 results

Premji Invest buys 8% of exiting L Capital’s stake in Fabindia

BI India Bureau

Louis Vuitton is selling its stake in Fabindia

BI India Bureau

What has changed for your credit cards, starting today?

Ira Alok Puranik

From Manyavar’s Kanyadaan to Cadbury’s beef row, here are a few brands that found themselves in trouble in 2021

Karuna Sharma

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