Brands
Jubiliant Bhartia group develops thirst for Coke’s biggest Indian bottler
MUMBAI: It’s bottling a major partnership with the famous Bhartia brothers – Shyam and Hari. Atlanta-based The Coca -Cola Co today announced that it has reached an agreement with the multibillion dollar, well- diversified Jubilant Bhartia group to acquire a 40 per cent stake in Hindustan Coca -Cola Holdings (HCCH).
HCCH is the parent company of the largest Coca -Cola bottler in India, Hindustan Coca -Cola Beverages (HCCB) which primarily has a presence in the south and west of India.
“The Jubilant Bhartia group will bring invaluable experience and insights to our business as we continue to grow our presence in India,” said The Coca- Cola Co president of international development Henrique Braun. “Jubilant Bhartia Group brings a track record of building and growing consumer and other businesses in India with international partners. They are also committed to investing in the communities they serve.”
The Coca -Cola Co’s locally-owned franchise partners in India are positioned to drive successful outcomes. The investment by the Jubilant Bhartia Group family will contribute to the company’s ongoing success and help strengthen its position in the Indian market, added The Coca-Cola Co in a press statement.
Jubilant Bhartia group founder & chairman Shyam S. Bhartia and founder & co-chairman Hari S. Bhartia said the investment is an ideal addition to their business. They have a fortune estimated at about $.4.5 billion according to Forbes. The group has a presence in fast food, pharma, energy and auto distribution. Group company Jubiliant Foodworks operates the Dominos Pizza, Dunkin Donuts and Popeye’s franchises in India.
“The Coca- Cola Co is home to some of the most respected global brands and we are delighted to be associated with them,” Bhartia said. “Together, we will leverage opportunities to grow the business to greater heights and ensure more Indian consumers can enjoy The Coca Cola Co’s refreshing portfolio of iconic local and international brands.”
Because the brothers have non-disclosure agreements with the beverage giant, the Bhartias were loath to reveal any details of the scale of investment the deal entailed, but market guesstimates are that it is at around Rs 12,500 crore, with HCCB being valued at Rs 31,250 crore.
The Coca -Cola India president & southwest Asia operating unit head Sanket Ray said. “We welcome the Jubilant Bhartia group to the Coca -Cola system in India. With its diverse experience in various sectors, Jubilant brings decades of rich experience that will help accelerate the Coca -Cola system, enabling us to win in the market and provide greater value to local communities and consumers.”
The transaction is subject to regulatory approval. Rothschild & Co acted as exclusive financial adviser to The Coca -Cola Co while Morgan Stanley was the advisor for the Jubiliant Bhartia group
Brands
Estée Lauder to shed 10,000 jobs as new boss bets on digital shift
The cosmetics giant raises its profit outlook but stays silent on a possible merger with Spain’s Puig, as job cuts deepen and a three-year sales slump weighs on the turnaround
NEW YORK: Stéphane de La Faverie is not done cutting. Estée Lauder announced on Friday that it plans to eliminate as many as 3,000 additional jobs, taking its total redundancy programme to as many as 10,000 roles, up from a previous target of 7,000 announced a year ago. The company, which owns La Mer, The Ordinary, Tom Ford, and Aveda, employs roughly 57,000 people worldwide. The mathematics of what is now being contemplated is stark.
The fresh round of cuts is expected to generate a further $200 million in savings, bringing the total annual savings from the programme to as much as $1.2 billion before taxes. That money, De La Faverie has made clear, will be ploughed back into the turnaround.
A CEO in a hurry
De La Faverie, who took the helm in January 2025, inherited a company that had endured three consecutive years of annual sales declines. His response has been to move fast and cut deep. A significant portion of the latest redundancies reflects his push to reduce headcount at US department stores, long a cornerstone of Estée Lauder’s distribution model but now a channel in structural decline. In their place, he is accelerating the shift toward faster-growing online platforms, including Amazon.com and TikTok Shop, a pivot that is reshaping not just where Estée Lauder sells but how it thinks about its customers.
The numbers are moving in the right direction
Despite the pain, there are signs the medicine is working. Estée Lauder raised its profit outlook for the remainder of the fiscal year, guiding for adjusted earnings per share in the range of $2.35 to $2.45, above analyst estimates and a notable step up from the $2.05 to $2.25 range it had guided for in February. Organic net sales growth is expected to come in at 3 per cent, the company said, at the high end of the range it set out in February.
The share price tells a mixed story. After De La Faverie took charge, the stock surged nearly 60 per cent, buoyed by investor optimism that a longtime company insider could finally arrest the decline. But 2026 has been rougher: the shares have fallen 27 per cent this year, weighed down by disappointing February results and the overhang of unresolved merger talks with Spanish beauty giant Puig Brands SA. The company gave no additional details about those discussions on Friday, leaving the market to guess.
Silence on Puig
The proposed tie-up with Puig remains the most consequential unknown hanging over Estée Lauder. A deal with the Barcelona-based group, which owns brands including Carolina Herrera and Rabanne, would reshape the global luxury beauty landscape. But with nothing new to say and a turnaround still very much in progress, De La Faverie is asking investors to trust the process.
Three years of sales declines, 10,000 job cuts, and a merger that may or may not happen. At Estée Lauder, the overhaul has barely started.
