MAM
Bodhitree Multimedia to set up Rs 500 crore multimedia hub in Guwahati
MUMBAI: Guwahati is getting ready for its close-up and this time, the lights, camera, and action are all real. Bodhitree Multimedia Limited has signed a Rs 500 crore MoU with the government of Assam to build a sprawling global media and cultural hub in the heart of the north east.
Signed on 26 February 2025, the partnership is poised to transform Guwahati into a centre-stage player on the world’s entertainment map. With plans for a cutting-edge Media City, a swanky seven-star wellness resort, and an immersive India Pavilion showcasing the nation’s cultural tapestry, this isn’t just another development project, it’s Assam’s grand cinematic debut.
Bodhitree Multimedia CEO Mautik Tolia stated, “We are proud to partner with the Government of Assam to establish a world-class ecosystem that will position Assam as a global hub for media, sports, and wellness. This initiative is designed to attract international studios with state-of-the-art facilities, significantly boosting entertainment tourism in the region. Our shared vision with the Government of Assam focuses on creating a vibrant environment that fosters creativity, innovation, and economic growth. We appreciate the Government of Assam’s commitment to this transformative project, which will not only enhance the region’s appeal but also create lasting opportunities for local communities.”
The initiative will bring a fresh wave of jobs, economic momentum, and footfall to the region. It’s also expected to lure international studios with its state-of-the-art facilities, all part of Bodhitree’s broader ambition to help establish India as a premier global production destination.
With similar mega-projects in the pipeline across the country, this marks Bodhitree’s second major production facility. But for Assam, it’s a first-of-its-kind opportunity to become not just a location for films but a landmark in film, culture, and creative innovation.
Roll credits? Not yet. This is just the opening scene.
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.
