Brands
Chumbak launches first brand campaign with Ogilvy
MUMBAI: Chumbak, a souvenir brand, has planned to come up with its first campaign with an aim to introduce the multi-faceted Chumbak and what it stands for to the consumers.
The brand campaign comprises a digital film and outdoor campaign and it has been conceptualised by Ogilvy Bangalore.
Ogilvy south chief creative officer Mahesh Gharat said, “Chumbak is a brand that offers a range of colourful and unique products for young women. These products make women stand out and be unique in their own way. This led us to the insight that there’s something unique about every woman – a little quirk or a special charm in their character. It’s these small acts of impulse or free-spiritedness that we celebrate in the brand film.
"Chumbak is all about a little splash of colour or a pop of quirk that it adds to your home or ensemble. Here, we’re telling the stories of many women, who might seem ordinary at first glance but carry with them a little, unique quirk. Chumbak’s brand philosophy and product offering complements and completes this special quirk."
Chumbak CEO Vivek Prabhakar said, “The brand film is a culmination of us creating a defined story for our community and new consumers waking up to us. From narrating our brand ethos to our product story, the idea was to create something fresh and full of energy which is what the brand is today. We believe the film will surely get the ball rolling on the growth story around the brand with us expanding our online presence and taking up our store count to over 75 stores in the next year.”
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.
