MAM
BookMyShow.com and PVR Cinemas enter into a strategic partnership
NEW DELHI: Bigtree Entertainment, the holding company of the entertainment ticketing portal BookMyShow.com, today announced its association with PVR for a five-year deal as the online ticketing partner for PVR Cinemas across India.
The companies are targeting ticket sales worth Rs 1,000 crore over these five years exclusively on Bookmyshow.com for PVR besides PVR‘s present existing sale of tickets from its Box Office and other channels
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BookMyShow.com founder and CEO Ashish Hemrajani said, “This association is a great development from the entertainment industry‘s perspective, with two significant players in their specialised domain coming together. We are happy to partner with PVR cinemas, which is continuance in our efforts in making entertainment hassle-free for consumers. The partnership extends to areas outside just pure sales but also to harnessing bookmyshow‘s analytical ability to ensure targeting the right content to right users as well as marketing initiatives around non-movies and alternative content”.
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PVR Cinemas Group president and CEO Pramod Arora said, “In our everlasting zest to provide convenience to our esteemed patrons, we have associated and partnered with Bookmyshow.com as our preferred e-ticketing channel partner. We have been in discussions with BMS for quite some time to work out this association, which shall help us touch millions of new additional customers who may now experience the joy of watching films at PVR Cinema near them. This is another initiative to help augment the box office revenues by reaching out to more and more consumers and achieving better penetration in our micro markets. Besides a better reach, our association with BMS shall also help us in CRM initiatives by deploying tools like KYC (know your customer) to help us serve our customers with their preferred choice of seats, concessions and other soft offerings. To sum up, this association is a sure delight not only for us but for our patrons, film distributors and producers alike!”
Bookmyshow will market and sell tickets of PVR Cinemas, over its web, mobile apps and other affiliate channels. The significant consumer shift over the past few years towards online and mobile sales, with a strong CRM backbone allows better segmentation and analysis in marketing relevant content to users. This shift also helps reduce the burden at the box office by reducing costs and making up for the lack of customer data thereby helping in predictive modeling.
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.
