MAM
Hafele to up media spends this year
BENGALURU: Hafele India, a distributor of furniture fittings, hardware and architectural ironmongery, is intending to shift its focus from business-to-business (B2B) to business-to-consumer (B2C) operations. The company is planning to increase its media spends for this year as it is eyeing over 50 per cent growth in the revenues this year.
Last year, the company had spent around Rs 120 million – 10 per cent of its India revenues – towards print (furniture magazines) and principal sponsorship of Master Chef -Australia.
With the addition of new products in its portfolio, Hafele managing director Jurgen Wolf is looking at a 50 per cent growth in revenues to Rs 1.8 billion by December 2012.
“Though the media spends will not be proportionate, they will certainly be higher,” said Wolf while talking with indiantelevision on the sidelines of the launch of an upgraded design franchise‘s studio ‘Varun‘s Innovation‘ in Bangalore.
The company is on the lookout for suitable communication opportunities that will help it reach its TG.
Varun‘s Innovation is Hafele‘s largest studio in terms of size as well as revenues. Hafele has 41 franchisees in India and will be adding another 11 by December 2012.
For calendar years 2013 and 2014, the company plans to add 20 more studios/franchisee per year.
At present, MX Advertising is handling the creative and media duties of the company.
MAM
PwC India announces leadership change in Deals practice
Shashank Jain steps down as co-leader after nearly three decades with the firm.
MUMBAI: When one dealmaker steps off the pitch, another is ready to take the baton because in the fast-moving world of transactions, the game never really stops. PwC India has announced a leadership transition in its Deals practice, with Shashank Jain stepping down from his role as co-leader to pursue an opportunity in the industry. The practice will continue to be led by Mohit Chopra, ensuring continuity and sustained growth momentum.
PwC India partner and leader for advisory dinesh Arora paid tribute to Jain’s contributions. “We deeply appreciate the significant contributions made by Shashank over close to three decades he has spent with PwC, particularly his defining role in shaping and strengthening our Transaction Services practice in India,” he said. Arora highlighted Jain’s support for clients through some of the most complex and significant transactions in the Indian market, noting his deep technical expertise, sound judgment and nuanced understanding of the evolving M&A landscape.
The Deals practice remains a key growth driver for PwC India, and the firm expects continued expansion under Mohit Chopra’s leadership. He will continue to guide clients through complex transactions and transformational business moments, building on the strong foundation established over the years.
Reflecting on his journey, Shashank Jain said, “I have had an exceptional journey at PwC. I owe my growth and learning to the nurturing environment and leadership development that PwC provided.” He added that he had been working closely with Mohit and the larger team to ensure a smooth transition and expressed confidence that Chopra would take the Deals practice to newer heights.
From intern to respected deals leader, Shashank Jain has clearly closed many successful transactions and now, it seems, he’s ready to strike a new deal of his own.
