MAM
Paytm hires ITC’s Varun Khullar as head of partnerships – payments bank
MUMBAI: Paytm has hired former ITC executive Varun Khullar for its payments bank business.
Khullar will lead the partnerships division and will be responsible for building relationships with potential partners such as insurance companies, banks and non-banking financial institutions.
Prior to joining Paytm, Khullar, an alumnus of IIT Madras and Indian School of Business, Hyderabad, worked with companies like Boston Scientific Corporation, McKinsey & Co and ITC.
Paytm vice president Amit Sinha said, “We are looking at building a robust leadership team for our Payments Bank business over the next three – four months. Varun’s professional career, his rich experience and demonstrated dynamism in an evolving business eco-system is the perfect combination for us at this juncture. We’re pleased to have him on board to head the partnerships division of our upcoming business.”
Khullar added, “Paytm’s proposed Payments Bankis in sync with the national vision of a cashless economy with greater financial inclusion for all. It is indeed an honour to be a part of this vision. I’m thrilled to come on board at one of the fastest scaling m-commerce and payments platforms in the country and look forward to a mutually successful tenure at Paytm.”
Khullar’s appointment comes three weeks after Paytm brought Amazon India’s Vikas Purohit on board in a similar leadership position for its Payments Bank. The company aims to recruit 3,000 people for the business and has also enlisted the services of management consulting majors, Ernst & Young and McKinsey& Co to help in the rollout.
Brands
Hard Rock kitchen appliances to enter India through EBG Group
Coffee machines and gadgets set to tap Rs 29,000 crore market
MUMBAI: EBG Group has partnered with Hard Rock International to bring a new range of Hard Rock branded coffee machines and small kitchen appliances to Indian consumers, marking the global brand’s entry into the country’s premium home appliance segment.
The partnership will see EBG Group design, develop, manufacture and distribute the appliances under a licensing agreement. The collaboration is backed by a planned investment of Rs 100 crore and is targeting revenue of Rs 500 crore over the next five years.
The companies are looking to tap into India’s fast growing premium home appliance market, estimated at around Rs 29,000 crore and expanding at an annual growth rate of about nine per cent. Their aim is to capture roughly five per cent market share in the coming years.
Globally, Hard Rock has built a strong presence across hospitality, entertainment, retail and lifestyle merchandise. The new venture extends the brand’s music inspired identity into everyday household products, bringing its distinctive design language to modern kitchens.
EBG Group founder and chief executive officer Irfan Khan said the collaboration blends brand appeal with product performance. “Hard Rock represents energy, authenticity and a globally aspirational lifestyle. Through this partnership we aim to introduce a differentiated portfolio of premium coffee machines and kitchen appliances that combine design, reliability and strong brand experience,” he said.
The upcoming product range will pair Hard Rock’s bold aesthetics with high performance technology and premium materials. The first phase of the launch will focus on key metropolitan markets, followed by expansion into other major cities.
Products will be available through leading retail chains, major e commerce platforms and select premium distribution channels, targeting urban consumers looking for appliances that deliver both performance and lifestyle appeal.
