By March 2024, Titan's Tanishq will treble its large format outlets.

Tanishq, a jewellery brand owned by Titan Company Limited, plans to increase the number of its big format stores by the end of the 2024 fiscal year in order to accommodate sizable crowds of customers at once and provide them with a wide range of jewellery options.

Tanishq, a jewellery brand owned by Titan Company Limited, plans to increase the number of its large format stores by the end of the fiscal year 2024 in order to accommodate sizable crowds of clients at once and provide them with a wide range of jewellery options. According to The Hindu, Titan Company Limited's regional business head for South India, Sharad, "We currently operate roughly 50 large format stores in the country and are planning to treble the number." There are currently 400 different sizes and types of brick-and-mortar stores operated by Tanishq throughout India. The company has a significant retail presence in Tamil Nadu, where it runs 46 outlets, 13 of which are in Chennai.

Over the remaining months of the current fiscal year and the subsequent 2024 fiscal, the brand plans to open 40 to 50 large format locations. Some of these stores will be opened in previously untapped markets, while others will be developed by converting an existing Tanishq location into a large format outlet.

The recently unveiled Chola-themed jewellery collection received positive feedback, according to Tanishq. Sharad stated of the line, "It had the best sales ever." Our expectations were exceeded. During Diwali, customers in both larger cities and more rural areas were pleased with it. We'll introduce fresh lines for the Pongal festival.

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MINISO anticipates expanding both online and offline in 2023 after reaching 220 stores in India.

As the Chinese company continues to grow throughout the nation, the accessories and lifestyle brand Miniso reached a store count of 220 in India in 2022. Miniso intends to concentrate on large-scale retailers and keep growing in 2023.

Pritish Bagdi

Tyrone Li, the country manager for Miniso in India, stated in a press release on January 3 that "during the pandemic, we adopted a more conservative store opening strategy, and having seen the performance potential of first- and second-tier cities, next year we will primarily open larger stores there." We see India's potential for growth and will keep cooperating with both our current and possible future partners to expand there.

Miniso has 16 outlets in the Mumbai metropolitan area and is now present in 125 Indian towns. Miniso established 10 outlets in December 2022, one of which was a 110 square metre outlet on Bengaluru's New Bel Road commercial pedestrian strip. Additionally, the company launched a location in Thiruvananthapuram's Lulu Mall.

Miniso considers India as one of its most important international markets due to its large population and growing economy, according to the business. In 2023, Miniso will focus on opening high-performing stores and selecting products to retail which cater to the needs of Indian consumers. The business will also focus on expanding its e-commerce offering on large-scale marketplaces Amazon India and Flipkart.

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Billionaire Gautam Adani to Control 65% of News Service NDTV as Founders Sell Share

Several months after making a hostile takeover bid for New Delhi Television (NDTV), one of India’s most trusted news sources, the Adani Group will control nearly 65% of the company.

Swati Bhat

The Adani Group is chaired by billionaire Gautam Adani, the richest man in Asia and the third richest man in the world.

In August, Adani’s AMG Media Networks Limited (AMNL) acquired some 29% of NDTV indirectly, by buying out loans to the company and after an open offer to acquire more of the company, owned a 37% stake in the company, becoming the single largest shareholder in the process.

NDTV communiqued in a statement at the time that the loan buyout “was executed without any input from, conversation with, or consent of the NDTV founders.”

On Friday, NDTV founders Prannoy Roy and Radhika Roy decided to sell 27.26% of their 32.26% share in the company to AMNL, it was disclosed in NDTV regulatory filings.

“The AMG Media Network, after the recent open offer, is now the single largest shareholder in NDTV. Consequently, with mutual agreement we have decided to divest most of our shares in NDTV to the AMG Media Network,” the Roys said in a statement. “Since the open offer was launched, our discussions with Gautam Adani have been constructive; all the suggestions we made were accepted by him positively and with openness.”

The Roys resigned from NDTV in November and the outlet’s star journalist Ravish Kumar, the subject of Vinay Shukla’s Toronto and Busan-winning documentary “While We Watched,” resigned earlier this month.

NDTV was founded in 1984 by the Roys. It currently operates two news channels and is known for being a watchdog of democracy by fearlessly questioning those in power, irrespective of which political party they belong to. As such, it has the reputation of being one of the few remaining independent – and therefore credible – news outlets in India.

With a market capitalization of $310 million, NDTV reported 2021 revenues of $45 million.

Adani, with a net worth of $120 billion, according to the latest Bloomberg Billionaires Index, is close to Indian Prime Minister Narendra Modi. The Adani group has interests in the port management, electric power generation and transmission, renewable energy, mining, airport operations, natural gas, food processing and infrastructure sectors.

Unlike the other major billionaire-led group in India, Mukesh Ambani’s Reliance Industries, which has significant media holdings, including digital rights ownership of the lucrative Indian Premier League cricket tournament, Adani’s media holdings are modest. AMNL was set up in April this year to be in “the business of publishing, broadcasting, distributing and advertising,” per a filing to the Bombay Stock Exchange. The first step in building the Adani media empire was the May acquisition of a 49% stake in Quintillion Business Media, a digital business news platform.

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