Brands
Mondelez India introduces limited edition Oreo Stereo
MUMBAI: Oreo, the biscuit brand by Mondelēz International, a leading global snacking powerhouse, has rolled out its latest innovation “Oreo Stereo” Music Box in India. This limited-edition gift pack contains crunchy cookies and a music system which comes along with fun Oreo tunes. Ushering in the festive season with a musical twist, this latest innovation by Oreo is the perfect gifting option for your loved ones and will be available only for two days exclusively on Amazon India on 15 and 16 July 2019, during Amazon Prime Day.
Commenting on this unique launch, Mondelez India associate director – marketing (biscuits) Sudhanshu Nagpal said, “Mondelez India has been synonymous to festivities in the country for over 70 years and Oreo is known for its persona of creating fun-filled moments and bringing people together. In tune with the spirit of festivities, adding a new beat to the voice of Oreo, we are thrilled to unwrap the joy of music this festive season with the launch of Oreo Stereo, a limited-edition gift pack that comes with a one of a kind music system and Oreo cookies.”
The Oreo Stereo adapts a playful tech that plays music when you place an Oreo cookie on it. Place your Oreo cookie on the mini recorder turntable and enjoy a different melody with every bite you take. What’s more, one can also record a special message to make their friends and family feel special!
The limited-edition gift pack will contain seven Oreo packs of 120 gms each, with flavours ranging from 2 packs of Oreo Original Creme, 2 packs of Oreo Choco Creme, 2 packs Oreo Strawberry Creme and 1 pack of Oreo Golden Vanilla Creme. Priced at INR 599, the Oreo Stereo gift box can be bought online only during Amazon Prime Day.
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.
