iWorld
Snapdeal launches Voonik’s apparel on its platform
MUMBAI: Snapdeal, India’s leading value-focused marketplace, has launched over 350 products from the fashion brand Voonik on its platform.
The products include bestsellers from apparel and footwear categories, including kurtis, tops, dresses and bottom wear for women, and footwear, T-shirt, shirt and denim for men.
Voonik products are priced in the Rs 399 to Rs 899 range on Snapdeal. With the new partnership with Voonik, Snapdeal has expanded the selection of value-priced items to include a private label from an online fashion player.
As an introductory offer, users get a minimum 50% discount on all Voonik products. In addition, Voonik buyers on Snapdeal will get an additional 15% instant discount on using Bank of Baroda and HSBC credit cards.
“Voonik’s products perfectly mirror the needs of our target audience, including the rapidly growing middle segment of the market. We are very excited to bring Voonik’s products on our platform," said a Snapdeal spokesperson.
"We are excited to bring specially curated Voonik branded apparel and footwear on Snapdeal. The superior quality at an affordable price of our trending products will perfectly appeal to Snapdeal value-seeking customers,” says Sujayath Ali, CEO of Voonik.
Snapdeal’s selection has grown to over 200 million listings on the platform. In the last two years, it has seen 60,000+ new seller partners come on board adding over 50 Million new listings. A large number of local emerging brands on Snapdeal are added to ensure adequate choice to India’s value-seeking customers.
Earlier, Snapdeal also partnered with Japanese brand Miniso to launch its attractively priced products on its platform.
iWorld
Bill Ackman’s Pershing Square makes $64 billion bid to acquire Universal Music Group
Ackman pitches NYSE relisting plan as UMG board weighs unsolicited offer
The hedge fund has proposed a business combination that values UMG at €30.40 per share, representing a hefty 78 per cent premium to its current trading price. The offer includes €9.4 billion in cash alongside stock in a newly formed entity, with shareholders set to receive €5.05 per share in cash and 0.77 shares in the new company for each UMG share they hold.
Under the proposal, UMG would merge with Pershing Square SPARC Holdings Ltd and re-emerge as a Nevada-based entity listed on the New York Stock Exchange. The move is designed to boost investor visibility and potentially secure inclusion in major indices such as the S&P 500.
Pershing Square Capital Management ceo Bill Ackman argued that while UMG’s operational performance remains strong, its market valuation has lagged due to external factors. “UMG’s stock price has languished due to a combination of issues that are unrelated to the performance of its music business,” Ackman said, pointing to concerns ranging from shareholder overhang to delayed US listing plans.
Ackman also flagged what he sees as untapped potential in UMG’s balance sheet and a lack of clear capital allocation strategy. He added that the market has not fully recognised the value of UMG’s €2.7 billion stake in Spotify, alongside gaps in investor communication.
The proposed transaction would also result in the cancellation of around 17 per cent of UMG’s outstanding shares, while maintaining its investment-grade balance sheet. Pershing Square has said it will fully backstop the equity financing, with debt commitments secured at signing. The deal is targeted for completion by the end of the year.
UMG, however, has struck a measured tone. The company confirmed that its board has received the non-binding proposal and will review it with advisers. It reiterated confidence in its current strategy and leadership under Lucian Grainge, signalling no immediate shift in stance.
The proposal comes at a time when global music companies are navigating evolving investor expectations, streaming economics and capital allocation pressures. For Pershing Square, the bet is clear: sharpen the financial story, relist in the US, and let the music play louder in the markets.
Whether UMG’s board is ready to change the tune remains to be seen, but the spotlight on its valuation just got a lot brighter.
