MAM
ASCI asks P&G to withdraw or modify Oral B ad
MUMBAI: The Advertising Standards Council of India (ASCI) has asked Proctor & Gamble (P&G) to withdraw or modify its Oral-B advertisement campaign for violating ASCI’s advertising code. Acting on a complaint against the print and TV advertisement, the ASCI noted that the claim of “9 out 10 dentists agree that Oral B – Pro Health is the best toothpaste in India” was misleading as it was based on a faulty survey. ASCI upheld the complaint against the advertisement as it contravened Chapter 1.4 of the advertising code.
ASCI said, “The claim of ‘9 out 10 dentists agree that Oral B – Pro Health is the best toothpaste in India’ based on Dentists survey conducted by A C Nielsen in 2013, was considered misleading as the design of the survey itself was faulty. This was a survey conducted of a captive audience attending Oral B launch conference and post one trial-brushing. The Advertiser has been asked to withdraw or to modify appropriately the said TVC and the print Ad by 23rd January 2014.”
Indian Dental Association (IDA) hon general secretary Dr Ashok Dhoble said, “While exaggeration in advertising is widespread today, it is important that advertisers do not mislead the public with false claims. Any claim found to be false and misleading not only reflects poorly on the advertiser, it can deceive general public.”
He added, “The IDA is the apex body of dental professionals in India with over 100,000 dentists as members and we are disappointed that a leading advertiser like P&G used faulty research to make false claims about its recently introduced toothpaste brand, Oral-B. The ad not only misguides the public but also misrepresents the views of the dental profession in India. Such deceptive and unethical practices should be avoided.”
The Advertising Standards Council of India (ASCI) is a self-regulatory council, which sets advertisement standards for the industry.
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.
