Business Today 15-Nov-20

Luxury — just like the internet — is a truly global phenomenon. Its sellers are global. Its buyers are global. Even the aspirants are truly global. Luxury goods are often bought by buyers outside their home countries because shopping is such an inalienable part of travel. For authenticity and originality, consumers flock to the brand's country of origin. So when the lockdown brought criss-crossing the globe to a complete halt, the luxury industry got a big jolt. Companies have had to realign strategies to be in tune with the times. For potential buyers who can’t travel, luxury is coming home, taking experiential luxury to a new level. As an anti-counterfeiting measure in trans-Continental sales, brands are already deploying blockchain, for instance. But even more than Coronavirus, the biggest and the…

Arep ort by Deloitte in 2019 revealed that women account for 27 per cent of the US automobile manufacturing workforce. In the EU, this figure stands at above 24 per cent. The Indian auto industry meanwhile averages at a single-digit percentage of the female workforce. This is despite several studies proving that women report higher average longevity in process-oriented functions; and that organizations with larger proportion of women report higher levels of creativity, stability in terms of labour challenges and innovation. The iconic 96-year-old British automaker grabbed eyeballs in India with its entry not just for its interesting line-up of vehicles, but also for the disruption it was set to bring about in the industry workforce. Diversity being a key pillar of the brand, MG Motor's female workforce comprised close…

The one sector that has traditionally remained aloof of gender norms in India is auto. Despite some recent initiatives by auto majors, it continues to be among the most poorly represented when it comes to women as employees. As per industry estimates, only a meagre 8 per cent of auto sector employees are women, most of whom are confined to desk jobs or peripheral roles on the shop floor. This talent gap, according to a global Deloitte survey can be counterproductive for companies looking to tap into the rising opportunities for innovation, transformation, and disruption being brought about by digital technologies such as artificial intelligence (Al), augmented reality (AR), and the Internet of Things-along with the move toward electric, autonomous, and connected cars and shifting consumer preferences. When MG Motor…

One look at Paya I's exquisite designs and it dawns on you that they are not only an extension of the Indian ethos and artisanry, but also married with her own vibrant, and yet elegant creativity. You probe Paya I about her influences and ii becomes clear that the city of her birth, Varanasi--the life in it and the years spent in this traditional yet high-spirited city-- has left a permanent and welcome imprint on her creative mind. All those years of watching artisans, weaving magic on textiles, from close quarters and an intense desire to take these to the world and beyond with a take of her own, has always inspired Paya I. And the result is that when ii comes to exquisite wedding fashion, Paya I figures in…

LUXURY MARKET TO SHRINK AFTER YEARS OF SOLID GROWTH MAJORITY TO REFRAIN FROM PLANNED PURCHASES & INVESTMENTS Q. I will continue making the purchases and investments I had planned before FEW EXPECT RECOVERY TO BE QUICK Q. I believe that the recovery after the crisis will be fast (25-45) PER CENT DROP IN SALES OF LUXURY GOODS GLOBALLY IN 2020 IN BEST-CASE SCENARIO, ACCORDING TO BCG -50 PER CENT EXPECTED DROP IN SALES IN INDIAN LUXURY MARKET IN 2020 54% WILL NOT DO LEISURE TRAVEL FOR SIX MONTHS Q. From the moment you will be allowed to travel for leisure internationally again, when do you think you will actually start doing so? *Personal includes leather accessories, apparel, watches and jewellery (branded and unbranded) and perfumes and cosmetics; Experiential includes furniture,…

India is among the largest fuel consumers for its vibrant and growing economy that makes it dependant on imports at exorbitant costs that not only burdens the exchequer, but makes it vulnerable to unstable pricing and foreign exchange erosion. Seized of the delicate situation, the Government of India introduced Biofuel Policy in 2018 with the objective to identify and boost to infrastructure for manufacturing and distribution of clean fuels like Green Diesel, CBG, bio coal etc. CBG is an alternate substitute of imported CNG. According to estimates, India has the potential to produce 62MMT of CBG per annum and to tap this possibility, the Government is offering subsidy of upto Rs4 Crore to entrepreneurs starting CBG Production Units. Government has also given the directive to use bio-coal for co-burning with…