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New Delhi: <keyword id="21530712" type="General" weightage="100" keywordseo="Ola-Founder-Bhavish-Aggarwal" source="keywords">Ola Founder Bhavish Aggarwal</keyword> is placing bold bets on new-age technologies with a view for <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> to be at the forefront of the current global <keyword id="22912054" type="General" weightage="20" keywordseo="tech-transition" source="keywords">tech transition</keyword> led by AI, and build <keyword id="22912488" type="General" weightage="20" keywordseo="jobs-of-the-future" source="keywords">jobs of the future</keyword> in the country. In an interaction with PTI editors at the agency's headquarters here, he said the private sector has to do the bulk of job creation, step up and do more, while creating an enabling environment and correcting imbalances, such as that of trade, are the responsibility of the government. Aggarwal also supported the government's move to offer fiscal incentives to global EV makers, including Tesla, through the new EV policy saying it is important for India to attract all kinds of investment, and globally established players will help in the development of the EV ecosystem in the country. The group's newly-listed entity <keyword id="19945904" type="General" weightage="20" keywordseo="Ola" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola" meta.hostid="83" meta.entityid="Ola">Ola</keyword> Electric aims to make India a global electric vehicle (EV) hub but the country has to invent an EV and energy transition paradigm for itself based on its needs as the world cannot achieve a sustainable future without India, he added. "There is a global technology transition happening and AI is a very important technology of the future, and we in India need to lead this journey. If you look at the current state, I think we are still adopters of somebody else's technology paradigms, especially in the digital world," Aggarwal said, explaining why the Ola group had set up AI start-up Krutrim last year. One of the things in Krutrim is to build AI models on Indian data, which is more attuned to Indian use cases, Indian paradigms, he said, adding, "We are making our own AI, on our own cloud, on our own chip." Despite India producing 20 per cent of the world's digital data at present, he lamented that the country does not fully own the data, as 80 per cent are stored outside, which are then processed into AI and "brought back into India and sold to us in dollars". When asked about concerns over AI leading to job losses, he allayed the apprehension saying that the IT boom created jobs in India when people feared that computers would take away jobs, and AI is a similar tool. "AI is not going to replace anyone. Maybe that future is a few decades away... We don't need to get anxious about that future right now. We need to, as a country, see that AI is going to amplify productivity. If we don't get onto the bandwagon, we will be left behind...," he asserted. In his view, Aggarwal said the way forward is for India to become experts in future technology. "Future technologies bring with it jobs of the future, supply chain of the future. And if we are global leaders, we are the fastest adoptive market of future technologies (then) jobs of the future will be built in India, supply chains of the future will be built in India. This is the only way... If we focus on protecting the past, you remain uncompetitive," he added. Sharing his take on employment generation in India, Aggarwal said, "I actually believe the private sector has to do the bulk of the job creation. The government's job is to create the enabling environment, create the fundamentals, help correct imbalances wherever they are, be it trade imbalances, etc and incentivise wherever it needs to be incentivised, like the PLI schemes." The government's steps such as the employment-linked incentives will also encourage private industry, he said, adding "But fundamentally the private sector has to step up and do more". Asked if the government is doing enough to create that ecosystem for the private sector, Aggarwal said, "I'm not in the government, so I want to put the limelight on ourselves. Is the private sector doing enough? I think we all can do more, and I'm on the same page. We all need to do more." In response to a query on his views over the government in extending the fiscal concession that companies like Tesla have been demanding from India, he said, "It is very important for India to attract all kinds of investment, especially (from) world leading companies. "Tesla is a best in class company. The more companies like these invest into India, the better it is for India, in a broad sense as well for the industry." He further said, "The (EV) ecosystem, including my company, will benefit from it, because it will raise the bar on expertise, on excellence, on talent, everything..." About the newly-listed entity Ola Electric, he said, "Our mission at Ola electric is to really make India a global EV hub." The company will build products such as electric two and three-wheelers that Indians need for the country to be able to invent an EV and energy transition paradigm for itself, different from the current global solution for sustainability that is focussed on electric luxury cars, Aggarwal added. On Ola Consumer, he said the ride-hailing mobility vertical is fairly profitable, while it is investing into the new e-commerce for which it has partnered with ONDC.

India needs to lead global tech transition, build jobs of the future: Ola Founder Bhavish Aggarwal

A notable one among youngest millionaires, Ola Founder Bhavish Aggarwal is an inspiring personality who rose to fame through luck, smart work as well as hard work. Here are a few interesting facts about Bhavish Aggarwal, you might not have known so far. A native of Punjab Bhavish Aggarwal was born in Punjab on 28 August 1985. He is an independent entrepreneur in every sense of the term. In an important turn in his life, he co-founded Ola cabs. A former student of IIT, Bombay Bhavish completed his bachelor’s degree in computer science from Indian Institute of Technology (IIT) Bombay. Starting off his career Microsoft gave the first platform for Bhavish to start his career. He worked with this company for about 2 years. During his tenure, he filed two patents. He too published 3 papers in international journals. Founded Ola cabs In the year 2011, Bhavish co-founded Ola Cabs with Ankit Bhati in Mumbai. Within a time span of four years, Bhavish and his co-founder Ankit Bhati were the youngest to be listed among the richest Indians for the year 2015. How Ola Cabs came up In one of his business journeys, Bhavish travelled from Bangalore to Bandipur. He rented out a car and the entire episode ended up in a bad tone. The driver stopped on the way and started demanding more than what was agreed upon initially. When he was refused, the driver abandoned him on the way before the destination. Bhavish understood this was the plight faced by several other travelers booking cars. Bhavish wished to find a car rental company that will assure a great customer experience combined with economical prices. Tapped the potentials in car booking Bhavish foresaw great potential in car booking business. In 2010, he co-founded Ola Cabs with Ankit Bhati. His parents in fact did not like the idea of Bhavish jumping into a sort of travel booking agent’s job. Nevertheless, when Ola Cabs received its first round of funding from two angel investors, Bhavish’s parents started believing that he has some workable ideas. The Ola Cabs model Ola Cabs did not resort to the model of buying and renting its own cars. Instead, it partnered with a number of taxi drivers and moved the entire set up to a sophisticated step forward. As per the Ola Cabs model, people could book cars within a short while from the comfort of their phones. The bookings that were accepted were half or full-day rentals and also outstation taxi services. Ola Cabs offers the widest set of options to the customers including Mini, Prime, and Luxury. The most economical cabs Right from the time of its inception, Ola Cabs depended on SoftBank for is funding needs besides pooling investments from Angel Investors. They also started charging lesser than what the auto-rickshaws charged. Ola Cabs offered taxi bookings for dead cheap prices at Rs.10 per km. Ola Cabs expansion Ola Cabs has recently ventured into providing auto-rickshaw booking services following the launch of Ola Auto. It is now possible for customers to find autos on-demand on the Ola Auto app. Read Also about other Personalities - <a href="https://www.businessinsider.in/10-interesting-facts-about-ratan-tata-that-you-should-know/articleshow/69914798.cms">Facts about Ratan Tata</a> <a href="https://www.businessinsider.in/interesting-facts-about-oyo-founder-ritesh-agarwal/articleshow/70417612.cms">Ola founder Ritesh Agarwal</a> <a href="https://www.businessinsider.in/unknown-facts-about-flipkart-founder-sachin-bansal/articleshow/70494717.cms">Flipkart founder Sachin Bansal</a>

Interesting facts about Ola founder Bhavish Aggarwal

<ul><li>The Ola S1 and S1 Pro are the company’s first electric scooters. </li><li>Those who had pre-booked the Ola electric scooters earlier were able to make their purchases on September 15 and 16. </li><li>Pre-bookings for the next round of sale are now underway. </li></ul> Sales of the Ola electric scooters, S1 and S1 Pro, have crossed ₹1,100 crore in two days, the company’s Chief Executive Officer (CEO) <keyword id="1543567" type="General" weightage="20" keywordseo="bhavish-aggarwal" source="Orion">Bhavish Aggarwal</keyword> announced on Friday. On Thursday, Aggarwal announced that the sales of Ola S1 and S1 Pro crossed ₹600 crore on the first day. <div type="twitter" handle="bhash" handlename="Bhavish Aggarwal" image="http://pbs.twimg.com/profile_images/1133256267340713984/UaxcE0fi_normal.jpg" favoritecount="681" retweetcount="56" status="Day 2 of EV era was even better than Day 1! Crossed ₹1100Cr in sales in 2 days! Purchase window will reopen on Nov… https://t.co/tbEK8Ba9ap" createdat="1631855294000" id="1438731499528855554"></div> “While the purchase window is now closed, our reservations remain open on olaelectric.com and I want to let all of you know that we will be reopening the purchase window on November 1, 2021, just in time for Diwali,” Aggarwal added, announcing the next sale of the Ola S1 and S1 Pro. “That’s more, in value terms than what the entire 2W [two-wheeler] industry sells in a day! Make no mistake, the age of EVs is here,” he explained. Earlier, the sale of the Ola electric scooters was scheduled for September 8. It was<a href="https://www.businessinsider.in/business/auto/news/ola-s1-and-s1-pro-electric-scooter-sale-delayed-by-one-week/articleshow/86055573.cms"> delayed</a> by a week due to issues with the website. The company had started accepting reservations for the scooter in July and only the customers who had pre-booked the vehicle were able to make their purchases during the two days. <cmsannotation type="cmsannotation" annotationid="Ola S1 and S1 Pro price" comment="subhead" text="Ola S1 and S1 Pro price">Ola S1 and S1 Pro price</cmsannotation> The Ola S1 has been priced at ₹99,999 and the Ola S1 Pro is priced at ₹1,29,999. Customers can claim FAME II subsidies and additional subsidies based on their state. The subsidies offered for different states can be checked here. <cmsannotation type="cmsannotation" annotationid="Ola S1 and S1 Pro delivery date" comment="subhead" text="Ola S1 and S1 Pro delivery date">Ola S1 and S1 Pro delivery date</cmsannotation> The Ola S1 and S1 Pro will be delivered starting from October 2021. The company has said that the deliveries will be prioritised based on the date of purchase on a first come first serve basis. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/how-to-buy-ola-electric-scooter-s1-and-s1-pro/articleshow/86224084.cms">How to buy Ola electric scooter S1 and S1 Pro</a> <a href="https://www.businessinsider.in/business/startups/news/ola-electric-scooter-factory-will-be-run-only-by-women-says-ceo-bhavish-aggarwal/articleshow/86161861.cms">Ola electric scooter factory will be run only by women, says CEO Bhavish Aggarwal</a> <a href="https://www.businessinsider.in/business/auto/news/heres-what-makes-the-new-simple-one-electric-scooter-a-worthy-ola-and-ather-alternative/articleshow/85362511.cms">Here’s what makes the new Simple One electric scooter a worthy Ola and Ather alternative</a>

Ola electric scooter sale crosses ₹1,100 crore on second day, here is when the next sale is scheduled

Ratan naval Tata is the chairman emeritus of Tata Sons. He was formerly the chairman of the Tata Group. One of the topmost and popular businessmen in India, Ratan Tata also has many other aspects about him that are worth knowing. Here are ten interesting facts about Ratan Tata, his personality and achievements that are worth knowing. Ratan tata father was an adopted son and Tata was raised by his grandmother Ratan Tata’s father Naval Tata was the adopted son of Ratanji Tata and Navajbai Tata. Earlier Naval Tata was growing in J.N. Petit Parsi Orphanage. Navajbai Tata, the grandmother of Ratan Tata was very fond of him. When Ratan Tata was just 10 years old, his parents got separated in 1940 and then he was raised by his grandmother. Ratan Naval Tata loves dogs so much Since the days of JRD Tata, the Bombay House, the Headquarters of Tata Sons has a tradition of letting stray dogs in during rains. After its recent renovation, the Bombay house now has a kennel for stray dogs. This kennel is equipped with toys, play area, water and food. Continuing the tradition, Ratan Tata has an extreme love for these canines. He has two pet dogs that he takes care so fondly namely Tito and Maximus. Ratan Naval tata first job Ratan Tata’s first job was at the Tata Steel which he took up in the year 1961. His first responsibility was to manage the blast furnace and shovel limestone. Ratan Naval Tata steered the Tata Group towards bright prospects Becoming the chairman of the Tata Group in 1991 in his 21 , he brought international recognition for the Tata Group. All this was possible through his pragmatic business skills. Championed some historical mergers Ratan Tata accomplished some historical mergers for his company including Land Rover Jaguar with Tata Motors, Tetly with Tata Tea and Corus with Tata Steel. All these mergers played a significant role in the Tata Group’s phenomenal growth. Keen in keeping up promises Nano cars are the dearest project of Ratan Tata. In 2009, he promised to make a car that would cost only a lakh rupee. He spared the best of his efforts to keep up his promise to society. Has a good collection of cars Ratan naval Tata is highly fond of cars. He has a wonderful collection of high-end cars including Ferrari California, Cadillac XLR, Land Rover Freelander, Chrysler Sebring, Honda Civic, Mercedes Benz S-Class, Maserati Quattroporte, Mercedes Benz 500 SL, Jaguar F-Type, Jaguar XF-R, and some others. Ratan Tata is a skilled pilot Ratan Tata loves flights and flying. He is a skilled pilot. Ratan Tata was the first Indian to pilot F-16 Falcon in 2007. Donated $50 million to Harvard Business School In 2010, Ratan Tata pooled up a sum of $50 million to construct an executive centre for the Harvard Business School from where he received his collegiate education. The hall was named Tata Hall. Ratan tata leadership grew the Group’s revenues phenomenally Under his able leadership, the revenues of the Tata Group grew more than 40 times. The profits abounded by over 50 times. The company that made only $5.7 billion in 1991 made around $103 billion in 2016. Read Also about other Personalities - <a href="https://www.businessinsider.in/interesting-facts-about-ola-founder-bhavish-aggarwal/articleshow/71186840.cms">Ola Founder Bhavish Aggarwal</a> <a href="https://www.businessinsider.in/interesting-facts-about-oyo-founder-ritesh-agarwal/articleshow/70417612.cms">Ola founder Ritesh Agarwal</a> <a href="https://www.businessinsider.in/unknown-facts-about-flipkart-founder-sachin-bansal/articleshow/70494717.cms">Flipkart founder Sachin Bansal</a>

Ratan Tata - 10 Interesting facts about Ratan Tata that you should know

With the start-up boom, increasing number pf entrepreneurs are coming on board. So much so that they are entering the super-rich list too. The debutants include <a href="http://www.businessinsider.in/You-may-soon-be-hopping-on-to-an-Ola-bus/articleshow/48155360.cms">Ola</a> founders Ankit Bhati, 28, and Bhavish Aggarwal, 29, who are also the youngest on the list. With their personal fortunes estimated at Rs 2,385 crore each, the duo are jointly ranked 238th.
 

	While the top spots are occupied by the old players, <a href="http://www.businessinsider.in/Reliance-Capital-Nippon-Life-Insurance-To-Start-A-Commercial-Bank-In-India/articleshow/41437313.cms">Reliance Industries</a> chairman <keyword id="3820" type="PERSON" weightage="100" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> ranked numero uno with a net worth of Rs 1.6 lakh crore, the list also has some surprising new entrants. The Indian who posted the biggest gain in wealth over the past year is reported to be Dhiraj Rajaram, the 40-year-old founder of Bengaluru-based analytics firm <keyword id="6713503" type="COMPANY" weightage="100" keywordseo="Mu-Sigma">Mu Sigma</keyword> are some to state. Rajaram saw his personal fortune rise six-fold, to Rs 17,800 crore. His ranking has risen 127 spots to No. 38, according to the Hurun India Rich List for 2015. There are 76 new faces among the 296 who made it to the Hurun India Rich List this year, with the cut-off level being personal wealth of Rs 1,600 crore. Apart from <keyword id="6354720" type="PERSON" weightage="100" keywordseo="Ola">Ola</keyword>'s Bhati and Aggarwal, other prominent tech entrepreneurs on the list include <a href="http://www.businessinsider.in/Flipkarts-new-move-will-make-it-the-dream-destination-for-all-sellers/articleshow/48574598.cms">Flipkart's</a> Sachin Bansal, 34, and Binny Bansal, 34, whose estimated wealth of Rs 9,010 crore each puts them at the 85th spot, a rise of 58 positions. Snapdeal's Kunal Bahl, 32, is a new entrant, jumping straight to the 243rd spot with a wealth of Rs 2,314 crore.
 <keyword id="198636" type="PERSON" weightage="100" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword>, 38, of mobile wallet and ecommerce firm <a href="http://www.businessinsider.in/Now-refill-your-Paytm-wallet-at-the-nearest-kirana-store/articleshow/48770295.cms">Paytm</a>, and Naveen Tewari, 39, of the mobile ad network InMobi are also a part of the list.
 

	Most of these technology and internet companies have raised significant amounts of private equity capital at substantial valuations over the past year. Flipkart's latest fund raise valued the firm at $15 billion, and Snapdeal's valued it close to $5 billion. Most of the new-age startup founders are also exceptional in that they are self-made; 85% of those in the list are part of family businesses.
 

	"Despite the weakening of the stock market and the rupee, the Hurun India Rich List expanded by 76 entrepreneurs, showing the resilience and dynamism of the Indian private sector," said Anas Rahman Junaid, India head, Hurun Report. The Hurun Report was started by researcher Rupert Hoogewerf. The first report, in 1999, was on the rich in China, and Hoogewerf has since been regularly bringing out a China rich list. The India initiative began two years ago.
 At the top, Mukesh Ambani was followed by Dilip Sanghvi of Sun Pharma, S P Hinduja &amp; family of the Hinduja Group, Shiv Nadar of HCL, and Pallonji Mistry of the <keyword id="261354" type="COMPANY" weightage="100" keywordseo="Shapoorji-Pallonji-Group">Shapoorji Pallonji Group</keyword>. For the first time, Wipro chairman <keyword id="6419840" type="PERSON" weightage="100" keywordseo="Azim-Premji">Azim Premji</keyword> fell off the top 5 rankings. He's now at the seventh spot, with his net worth plummeting 59% to Rs 51,900 crore. 
	 
	(Image credits: Indiatimes)

New age Indian entrepreneurs enter the super-rich list, Ola founders the youngest

New Delhi, <keyword id="4393078" type="General" weightage="20" keywordseo="Ola-Electric" source="Orion">Ola Electric</keyword> on Thursday said it has raised Rs 3,200 crore from Temasek-led investors and State Bank of India. The company announced the successful closure of the funding round from Temasek-led investors and State Bank of India. The funds raised would be utilised towards expansion of <keyword id="6354720" type="General" weightage="20" keywordseo="Ola" source="Orion">Ola</keyword>'s EV business and setting up India's first lithium-ion cell manufacturing facility at Krishnagiri, Tamil Nadu, the company said in a statement. The Bengaluru-based firm aims to accelerate its growth by ramping up its two-wheeler manufacturing capacity, launching electric motorcycles followed by electric cars and fast-tracking the construction of gigafactory, it added. "At Ola, our vision is to end ICE (internal combustion engine) age in automobiles and our upcoming gigafactory will be a big leap in India's journey towards becoming a global EV hub. We are committed towards developing core technologies in EVs and cell and are rapidly scaling up manufacturing to further accelerate the transition to sustainable mobility," Ola Electric Founder &amp; CEO Bhavish Aggarwal said. Ola Electric was selected by the government under its ambitious cell PLI scheme, receiving a maximum capacity of 20 GWh.

Ola Electric raises Rs 3,200 cr to fund EV business

<ul><li>RIL’s subsidiary <keyword id="58448" type="General" weightage="20" keywordseo="reliance-retail" source="Orion">Reliance Retail</keyword> has invested in over seven private labels and formed two private labels in the last two years.</li><li>It also sells 50 high-end international brands like Steve Madden, Jimmy choo and Armani in India.</li><li>According to a report by Forrester Research, India is home to 8.6 million luxury brands consumers.</li></ul><keyword id="10926" type="General" weightage="20" keywordseo="reliance" source="Orion">Reliance</keyword> Industries (RIL) Chairman <keyword id="3820" type="General" weightage="20" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword>, who has a net worth of over $95 billion, has been on a shopping spree for private fashion labels and brands for a year now. The strategy, which started off with selling international brands in India, has now evolved into acquiring Indian brands and scale them further. RIL’s subsidiary Reliance Retail has invested in over seven private labels and formed at least two private labels in the last two years alone to strengthen the line of lifestyle brands under one umbrella. This is in addition to the 50 high-end international brands — like Steve Madden, Jimmy choo, SuperDry, Diesel, Gas, Armani, Burberry, Hugo Boss and others — that the company is selling in India under <keyword id="74639" type="General" weightage="20" keywordseo="reliance-brands" source="Orion">Reliance Brands</keyword> Limited (RBL) banner. RBL, which is a brand licensing arm, operates 680 stores and 916 shop-in-shop in India. <table style="border-width: initial; border-style: none;"></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;">Company </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;">Nature of the deal </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;">Year </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;">Clovia </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;">Reliance acquired 89% stake in lingerie brand company for ₹950 crore </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;">2022 </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;">Abraham &amp; Thakore </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;">Reliance bought an undisclosed majority stake in fashion label Abraham &amp; Thakore. </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;">2022 </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;">Rahul Mishra </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;">Reliance Retail formed a 60:40 joint venture with fashion label Rahul Mishra. </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;">2022 </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;">Amante </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;">Reliance acquired lingerie brand Amante from Sri Lanka-based MAS holdings. </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;">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;">Zivame </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;">Reliance acquired lingerie brand Zivame last year for an undisclosed amount. </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;">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;">Anamika Khanna </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;">Reliance Retail formed a 60:40 joint venture with fashion label Anamika Khanna. </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;">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;">Ritu Kumar </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;">Reliance acquired 52% stake in Ritu Kumar. </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;">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;">Manish Malhotra </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;">RBL acquired a 40% stake in Manish Malhotra’s luxury fashion label. </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;">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;">John Player </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;">Reliance bought John Players from ITC in 2019 for an undisclosed amount. </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;">2019 </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;">Raghavendra Rathore </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;">In 2018, Reliance bought 12.5% stake in the company set up by Raghavendra Rathore. </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;">2018 </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;">Satya Paul </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;">Reliance acquired 16.3% stake in Satya Paul’s parent company for ₹34.8 crore. </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;">2018 </td></tr></tbody></table>Source: Reliance Retail's announcements Apart from the three lingerie brands, all the other brands that Reliance has invested in are luxury brands. What has compelled Reliance to go after owning Indian brands? “Reliance is utilising its current infrastructure and team under Reliance Retail to increase wallet share from customers by acquiring brands, which are well established. Their core business isn't centered around launching their own labels but managing retail (offline and online) for brands that they partner with,” Neha Khanna, director at management consultancy firm ValPro, told Business Insider. She further noted that the acquisition directly adds to their revenue without much associated operating expenditure. Madhur Singhal, managing partner and chief executive officer (CEO) of Praxis Global Alliance, explained that there are three main advantages to following such a strategy for any business. First, the new age consumers are more experimental and their purchasing behaviour has a huge impact on the development of new business strategies. Second, such a strategy is even more helpful when running an ecommerce business as the brand is able to meet the needs of a digital consumer who is willing to try new-age brands. Third, when a brand undertakes a ‘house of brands’ strategy, it is able to scale each of these brands to the extent, which they would have otherwise not achieved while growing individually. “If all small brands are consolidated under the house of brands then they get the right scaling economies to grow in terms of advertising, sales, etc. It also gives economies of scope as it increases the potential of cross-selling products and services,” he added. A report by Fortune India citing sources <a href="https://www.fortuneindia.com/enterprise/reliance-retail-acquisition-spree-aims-to-make-it-walmart-amazon/107308">noted</a> that Reliance Industries is trying to be a ‘Walmart Plus Amazon’ with its recent spree of acquisition across sub sections of the retail industries. According to a report by Forrester Research, India is home to 8.6 million luxury brands consumers. Reliance Retail’s rival Aditya Birla Fashion and Retail Limited (ABFRL) has been trying to go after this segment by acquiring stakes in brands like Sabyasachi, Tarun Tahiliani, Shantanu &amp; Nikhil, among others. According to market and consumer data site Statista, revenue in the Indian luxury goods market amounts to $6.6 billion in 2022. “Even in a pandemic, the shares of luxury brands such as LVMH and Hermes have doubled. This showcases how resilient the luxury can be and how spending continues in this segment. With rising disposable incomes and a well-travelled and younger customer demographic in India, Reliance and Aditya Birla understand the importance of making luxury brands more accessible,” Khanna said, adding that these brands are trying to tap into [the] Indian consumer’s spending capacity. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/reliance-industries-outshines-benchmark-index-shares-rise-14-in-1-month/articleshow/90438954.cms" data-type="tilCustomLink" style="">Reliance Industries outshines benchmark index, shares rise 14% in 1 month</a> <a class="tout-title-link" href="https://www.businessinsider.in/business/startups/news/ola-is-going-to-acquire-ceo-bhavish-aggarwals-brothers-firm-avail-finance/articleshow/90433830.cms" style="">Ola is going to acquire CEO Bhavish Aggarwal’s brother’s firm Avail Finance</a> <a href="https://www.businessinsider.in/stock-market/news/tata-consumer-products-axis-bank-mm-and-other-top-stocks-to-watch-out-on-march-25/slidelist/90432431.cms" style="">Tata Consumer Products, Axis Bank, M&amp;M and other top stocks to watch out on March 25</a>

Here’s why Asia’s richest man Mukesh Ambani is on a shopping spree for private fashion labels

When Forbes named Vijay Shekar Sharma as the youngest billionaire of India in 2017, the net worth of his company PayTM was $2.1 billion. In June 2019, the company is credited with a net worth of $2.7 billion. The son of a simple school teacher, how Vijay Shekar Sharma built his success story is highly interesting and inspiring. Here are a few interesting facts about him that can move the readers to admire this amazing personality. His business benefited from the change How Sharma rose to success was by taking the wind’s direction to his advantage. When the internet industry was turning intricate, Vijay Shekar perceived a paradigm shift in the process of billing from paying bills at physical outlets to online payment. He took inspiration from this shift and launched PayTM that expands as Pay Through Mobile. The favourable climate around him paved way for his quick success. In the online payments arena. Past awards and recognitions In 2015, Vijay Shekar was credited with the most coveted ‘India’s Innovative CEO Award’. In a celebration, PayTM was also recognized among Delhi’s top 50 brands. In 2006, PayTM was identified as the “Most Innovative Start-up of the Year”. He was a child prodigy Vijay began his college life as early as 15 years of age. He graduated as an engineer when he was just 19 years. In 1997 when he was doing his college studies, he started a website indiasite.net and later sold it for $1 million two years later. The initial journey for him was tough In 2001 Vijay started One97, the parent company of PayTM. He had to take a loan of 8 lakhs to fund his startup. Soon he realized the repayment was getting tougher. Hence he took up some petty jobs like delivering guest lectures and setting up LAN connections in order to see that both the ends met. His fortune turned gradually upwards and he could occupy the 1567th rank in the World’s Billionaire’s List by Forbes. This position made him the youngest billionaire of India. Vijay’s wealth shot up even when PayTM suffered losses In 2018, Vijay’s net worth rose to $2.6 billion, which was close to Rs 18,000 crore. Hence he was ranked at the 877th position among the 2,153 global billionaires. This happened despite his company PayTM was reported to suffer a loss of Rs 3,393 crore. His business benefited from demonetization In November 2016, the Indian government announced one of the biggest ever demonetization moves on the earth in which the high-value currency notes were withdrawn. This measure intended to crack down the black money market, illegal money laundering and terrorist funding, had also struck a severe blow on a large number of businesses. While demonetization slashed away the cash worth billions of dollars within a very short period of time, a huge segment of the population turned towards digital payments. This move gave a big boost to PayTM which gained tremendously from demonetization and spurted to growth. Read Also about other Personalities - <a href="https://www.businessinsider.in/interesting-facts-about-ola-founder-bhavish-aggarwal/articleshow/71186840.cms">Ola Founder Bhavish Aggarwal</a> <a href="https://www.businessinsider.in/10-interesting-facts-about-ratan-tata-that-you-should-know/articleshow/69914798.cms">Facts about Ratan Tata</a> <a href="https://www.businessinsider.in/interesting-facts-about-oyo-founder-ritesh-agarwal/articleshow/70417612.cms">Ola founder Ritesh Agarwal</a>

Interesting facts of PayTM founder Vijay Shekhar Sharma

<keyword id="225032" type="PERSON" weightage="20" keywordseo="Sachin-Bansal">Sachin Bansal</keyword>, the co-founder of Flipkart sold his 5.5% stake in the company and left it in May 2019 after the ecommerce giant of India was acquired by Wallmart, the world’s largest retailer. Here are a few interesting facts about Sachin Bansal, the mastermind behind Flipkart. <ul><li>Sachin Bansal founded Flipkart in 2007 along with his partner <keyword id="6364080" type="PERSON" weightage="20" keywordseo="binny-bansal">Binny Bansal</keyword>. In the initial stages, the ecommerce firm sold books online gradually expanding its operations into other domains. Today Flipkart has become one of the top ecommerce businesses in India. </li><li>In April 2016, Sachin Bansal was named among the 100 most influential people in the world along with Binny Bansal by the Times Magazine. </li><li>In some strategic deals, Flipkart acquired some well performing ecommerce businesses like Myntra, Jabong and PhonePe. </li><li>Sachin Bansal would later recollect in his life when Flipkart operated from a rented office costing them Rs.8,000 per month. He said the company during the starting years did not have any power backup they had to suffer the extremities of climate without AC or even windows to the building they had rented out for their ecommerce operations. </li><li>Sachin Bansal was a remarkable gamer. He used to give dinner to those who defeated him in games. </li><li>When the Big Billion Day sales was on, Sachin Bansal delivered the products along with Binny and others in the company.</li><li>Sachin Bansal and Binny Bansal are only business partners and co-founders of Flipkart. They are never related to each other though their surnames might suggest if they could be brothers. </li><li>Sachin and Binny studied at the same school. They were born and brought up in <keyword id="6360078" type="LOCATION" weightage="20" keywordseo="chandigarh">Chandigarh</keyword>, Punjab. Despite sharing their school with each other, they were never friends during their school days. Both of them graduated from IIT Delhi and only there at the college they got to know each other. </li><li>Sachin Bansal worked for Amazon in 2006. Binny Bansal joined the company in 2007. Later they came together to create Flipkart in 2007.</li><li>Sachin Bansal has married Priya Bansal, who was a dentist by profession. They both have a son.</li><li>Sachin Bansal is a highly sociable personality and loves gaming to the core. Sachin’s addiction to gaming was so intense that he wanted to give up his engineering course to find a career in gaming. During his early life, Sachin Bansal was highly passionate about playing games like Age of Empires and <keyword id="1269448" type="PERSON" weightage="20" keywordseo="Quake-III-Arena">Quake III Arena</keyword>.</li><li>Sachin Bansal is a visionary and a seasoned entrepreneur, the skill which he mastered through hard work. In 2018 after 11 years of his tenure with Flipkart, the company was valued at $20.8 billion. During this career at Flipkart, Sachin Bansal had the position of Chief Executive Officer and Executive chairman. </li><li>Sachin exited Flipkart along with the Walmart deal in 2018. During his exit, he had 5.5% stake in the company, which he sold to Walmart. During that time, his net worth was more than $1 billion.</li><li>During his exit from Flipkart, Sachin Bansal said he would focus on some personal projects that were long pending. He also said he wished to give himself to gaming and to brush up his coding skills.</li></ul>Read Also about other Personalities - <a href="https://www.businessinsider.in/interesting-facts-about-ola-founder-bhavish-aggarwal/articleshow/71186840.cms">Ola Founder Bhavish Aggarwal</a> <a href="https://www.businessinsider.in/10-interesting-facts-about-ratan-tata-that-you-should-know/articleshow/69914798.cms">Facts about Ratan Tata</a> <a href="https://www.businessinsider.in/interesting-facts-about-oyo-founder-ritesh-agarwal/articleshow/70417612.cms">Ola founder Ritesh Agarwal</a>

Unknown facts about flipkart founder Sachin Bansal

After the rise in the Information and Technology arena, it seems like India is going to witness the glut of eCommerce industry, which is ruling the entire marketplace. As per a recent Economic Times report, the country’s biggest eCommerce startups are in full swing to woo global technology and business leaders. 
 
The report talks about firms like Ola, Flipkart and Paytm which are looking forward to have technology and business experts onboard to cope with challenges of rising complexity and scale in their companies. 
 The firms, in particular, are eyeing experts including PepsiCo chief executive <keyword id="6421975" type="PERSON" weightage="20" keywordseo="Indra-Nooyi">Indra Nooyi</keyword>, payments startup Square's head of engineering Gokul Rajaram and Google Senior vice-president Sundar Pichai. 
 
On condition of anonymity, the founder of one of these startups said, "It's quite lonely at the top—investors are bringing more money with subtle expectations about big exits, and there aren't many in the management who can be trusted for balanced advice. These names have been through cycles of growth pangs and can even help us balance investor pressures with day-to-day management." 
 
 In a series of hiring, Paytm, last month, hired Ruchi Sanghvi, the first woman engineer at Facebook, WhatsApp <keyword id="135771" type="ORGANIZATION" weightage="20" keywordseo="global-business">global business</keyword> head Neeraj Arora and InMobi Founder Naveen Tewari. The high-profile appointments had been made to compete with the Indian online retail professionals. 
 On the other hand, Ola appointed <keyword id="292871" type="PERSON" weightage="20" keywordseo="Arun-Sarin">Arun Sarin</keyword>, former Vodafone CEO, as independent director. While announcing the appointment, Bhavish Aggarwal, co-founder and CEO of Ola, said, "(Sarin's) experience in management and in growing large businesses is invaluable to us. Arun not only brings global perspective, but also very deep understanding of emerging markets like India." 
 
Paytm founder and CEO Vijay Shekhar Sharma expects India will have about five emerging technology firms creating more than $50 billion (about Rs 3 lakh crore) in wealth, and they will all need experienced executives on their boards who have helped build such companies. He said, "It is a sign of playing long-term and faith that credible business leaders are putting in new-age business models." 
 
Image: thinkstock

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