MAM
AcneStar face wash collaborates with music streaming platforms
New Delhi: AcneStar face wash from the house of Mankind Pharma has collaborated with music streaming platforms- Gaana, Wynk, Spotify, and Saavan to engage with music lovers from different demographics and create high recall value for the brand.
The new campaign is based on the #ThankYouHaters campaign, which was rolled out last year to fight against the rise in online trolling on social media.
The brand said it has come up with this month-long campaign, keeping in mind the current situation and growing popularity of audio streaming platforms. “This will help us to create high recall value amongst the people who are multi-tasking, switching between household chores and professional engagements, to the sound of music,” it said in a statement.
As part of the campaign, it has roped in 50 influencers from different demographics to engage including Sanjana Singh, Shezali Sharma, Hashneen Chauhan, and Rehmat Rattan.
Mankind Pharma, general manager- sales and marketing, Joy Chatterjee said, “Recoiled out of everyday drives, music has now arisen as the favoured stress buster for the large numbers of people who are working from home and playing a therapeutic role for these multi-tasking times. We all have observed how individuals prefer to stay active on audio platforms while relaxing, sleeping, or other activities. Audio streaming has grown to 30-40 per cent in India in 2020-21 and with the rise of internet connection there has been a rise of regional language music which now contributes 39 per cent of all streams.”
Brands
Flipkart completes reverse flip to India ahead of IPO
Walmart-owned e-commerce giant shifts domicile from Singapore to Bengaluru
MUMBAI: Flipkart has completed its restructuring to move its parent company from Singapore back to India, marking a key milestone as the Walmart-owned marketplace prepares for a potential initial public offering on Indian stock exchanges, ET reported, citing people aware of the matter.
The move, often referred to as a “reverse flip”, relocates the company’s legal home to India and aligns its corporate structure more closely with its largest market. It also clears an important regulatory step for Flipkart as it explores listing plans.
As part of the restructuring, several Singapore-based entities have been merged into Flipkart Internet Private Limited, which will now serve as the main holding company for the entire group.
The consolidation brings a number of major businesses directly under the Indian parent company. These include fashion platform Myntra, logistics arm Ekart, travel booking platform Cleartrip, healthcare marketplace Flipkart Health, and fintech venture Super.money.
Under the new structure, global investors including Walmart, Microsoft, SoftBank, and the Canada Pension Plan Investment Board will hold their stakes directly in the Indian entity rather than through an overseas holding company.
The redomiciliation required approval from the Indian government because Chinese technology company Tencent owns around a 5 to 6 per cent stake in Flipkart. Under Press Note 3, investments from countries sharing a land border with India require prior government clearance.
Flipkart had already secured approval from the National Company Law Tribunal in December. With the latest clearance from the central government, the company has now obtained all the regulatory approvals needed to complete the relocation, ET reported earlier.
Flipkart had originally shifted its holding structure to Singapore in 2011 to tap global capital more easily. However, as India’s capital markets have matured, several start-ups have begun returning their domiciles to the country ahead of public listings. Companies such as Razorpay, Groww, and Meesho have taken similar steps.
The company is now expected to move ahead with its IPO preparations and has begun early discussions with merchant bankers. According to people familiar with the matter, Flipkart could file its draft prospectus later this year, setting the stage for what may become one of the most closely watched listings in India’s e-commerce sector.
Flipkart has been majority-owned by Walmart since 2018, when the US retail giant acquired a 77 per cent stake in the company for $16 billion in one of the largest e-commerce deals globally.
