Zandu to be Emami’s 1st ₹1k crore brand

Kolkata: Zandu could well be the first Rs 1,000-crore brand of FMCG major Emami Ltd. The brand’s revenue now stands at Rs 800 crore. Emami had acquired Zandu in late 2008 for Rs 750 crore.Emami vice-chairman and MD Harsh V Agarwal told TOI that Zandu was set to touch the four digit mark in next 1-2 years. The FMCG major is also hoping to turn recently-acquired The Man Company, now a Rs 180-crore brand, into a Rs 500-crore brand in 3 years.Emami invested around Rs 200 crore since 2017 to acquire Helios Lifestyle Pvt Ltd that owned The Man Company. Last week, Emami, which earlier held 50.4% stake in the company, bought additional 49.6% stake in Helios. Agarwal said The Man Company would not stop at Rs 500 crore and Emami would look to turn it into a Rs 1,000-crore brand in near future. “After achieving the first target (Rs 500 crore), the next target should be achieved in next 3-4 years after that,” Agarwal added. According to him, The Man Company is also making inroads in off-line segment.Other big Emami brands include the Rs 750-crore Navratna and Boroplus (Rs 550 crore). Agarwal said the company had mentioned in annual report that acquired brands had been doing well. The acquired brands now contribute 45% of Emami’s top line and may soon contribute up to 50%.

Emami to acquire remaining 49.6% stake in 'The Man Company'

Emami has acquired the remaining 49.6% stake in Helios Lifestyle, which owns 'The Man Company.' This acquisition strengthens Emami's position in the digital-first premium male grooming market. Emami Chairman R S Goenka highlighted the importance of pursuing inorganic growth opportunities. The company holds popular brands such as Navratna, Boroplus, Zandu, Fair and Handsome, and more.

Rs 950 crore bank fraud: ED attaches assets, FDRs worth Rs 294,19 crore of accused companies

The Directorate of Enforcement (ED) in Gurugram has seized assets worth Rs 294.19 crore in a case involving M/s Sunstar Overseas Ltd., after an FIR by CBI. The fraudulent activities resulted in wrongful losses exceeding Rs 950 crore to nine lender banks. Seized assets include lands, buildings, flats, and fixed deposits.

US court has fined this Indian IT company Rs 800 crore in trade secrets case

Sterlite Tech, backed by Vedanta Group, has been ordered to pay $96 million by a US court for trade secret violations against Italian rival Prysmian. A South Carolina jury found Sterlite had illegally taken Prysmian's trade secrets. Sterlite intends to challenge the ruling and maintains its commitment to the US market and its customers.

Stay updated with the latest news on Times of India. Don't miss daily games like Crossword, Sudoku, and Mini Crossword.