MAM
ITW bags ad rights from Sony, India series sponsor & partners’ announcement shortly
MUMBAI: ITW Consulting, an India-based sports management company, has acquired some exclusive rights from Sony Pictures Networks India Private Limited — the sole media rights holder of the Sri Lanka Cricket Series 2017. The deal involves title rights, on-ground and in-stadia advertising rights for all the cricket matches played during the above two series.
With these rights, ITW Consulting covered five ODIs and one test match under Sri Lanka v/s Zimbabwe series and also India’s tour Sri Lanka for three test matches, five ODIs and one T20 under Sri Lanka v/s India Series from 23 July till 6 September 2017, respectively.
Virat Kohli-led Indian team is scheduled to reach Sri Lankan capital Colombo on 19 July. They are likely to play a warm-up match on 21 & 22 July. The first test will be played at Pallekele between 26 & 30 July. The action will then shift to Galle for the second test, which is scheduled to be played between 4 & 8 August. SSC, Colombo will host the third test from 12 August. The tour continues with an ODI series between 24 August & 3 September, where the two teams will play a five-match series, followed by a T20I on 6 September.
Commenting on the deal, ITW Consulting director M S Muralidharan (a Global Sports Commerce affiliate) said, “We are one of the new generation companies and are delighted to partner with Sony Pictures Networks India (SPN) for these two series. With nearly 15 matches scheduled over the series, we are sure that we will be able to build strong and strategic brand associations that will be fruitful for both, the brands and cricket fans.” “At ITW, we are bringing in innovative technologies in cricket and other sports to ensure fans are engaged throughout the match with a crowd facing interactive display system”, he added.
Commenting on the deal, ITW Consulting co-founder Bhairav Shanth said, “This series has received an overwhelming response from the market. Brands see this as an excellent alternate medium with rationale pricing, delivering perfect ROI. Categories such as telecom network, automobiles, sports gear along with handset have locked in their participation. Most of our key slots have been closed a month before the start of the series. We will shortly be making the title sponsor announcement for the India series along with the central on-ground partners of the series.”
Commenting on the association, Sony Pictures Networks India (SPN) president, distribution and sports business Rajesh Kaul said, “Viewers are looking forward to the series as this is the Indian cricket team’s first full tour (Tests, ODIs and a T20) of Sri Lanka in three years. In addition to this, advertisers are also aware of the visibility that is ensured through the duration of the tournament, giving brands a wider reach.”
The 45-day long cricket extravaganza will reach a wide Indian, Sri Lankan and global audience cheering for the powerhouses and superstars of the likes of Angelo Mathews, Rangana Herath, Lasith Malinga as well as their Indian counterparts like Virat Kohli, MS Dhoni, Ravi Ashwin amongst others. The series will be telecast by the official live broadcasting partner, Sony Pictures Networks India on Sony SIX and TEN 3 channels and will be livestreamed on SonyLIV. Scheduled to reach prime time audiences in India and Sri Lanka, the match preview, pitch report and toss will commence 30 minutes prior, followed by the match at 10:00 AM IST for Tests, 2:30 PM IST for ODI’s and 7:00 PM IST for T20.
Brands
Estée Lauder to shed 10,000 jobs as new boss bets on digital shift
The cosmetics giant raises its profit outlook but stays silent on a possible merger with Spain’s Puig, as job cuts deepen and a three-year sales slump weighs on the turnaround
NEW YORK: Stéphane de La Faverie is not done cutting. Estée Lauder announced on Friday that it plans to eliminate as many as 3,000 additional jobs, taking its total redundancy programme to as many as 10,000 roles, up from a previous target of 7,000 announced a year ago. The company, which owns La Mer, The Ordinary, Tom Ford, and Aveda, employs roughly 57,000 people worldwide. The mathematics of what is now being contemplated is stark.
The fresh round of cuts is expected to generate a further $200 million in savings, bringing the total annual savings from the programme to as much as $1.2 billion before taxes. That money, De La Faverie has made clear, will be ploughed back into the turnaround.
A CEO in a hurry
De La Faverie, who took the helm in January 2025, inherited a company that had endured three consecutive years of annual sales declines. His response has been to move fast and cut deep. A significant portion of the latest redundancies reflects his push to reduce headcount at US department stores, long a cornerstone of Estée Lauder’s distribution model but now a channel in structural decline. In their place, he is accelerating the shift toward faster-growing online platforms, including Amazon.com and TikTok Shop, a pivot that is reshaping not just where Estée Lauder sells but how it thinks about its customers.
The numbers are moving in the right direction
Despite the pain, there are signs the medicine is working. Estée Lauder raised its profit outlook for the remainder of the fiscal year, guiding for adjusted earnings per share in the range of $2.35 to $2.45, above analyst estimates and a notable step up from the $2.05 to $2.25 range it had guided for in February. Organic net sales growth is expected to come in at 3 per cent, the company said, at the high end of the range it set out in February.
The share price tells a mixed story. After De La Faverie took charge, the stock surged nearly 60 per cent, buoyed by investor optimism that a longtime company insider could finally arrest the decline. But 2026 has been rougher: the shares have fallen 27 per cent this year, weighed down by disappointing February results and the overhang of unresolved merger talks with Spanish beauty giant Puig Brands SA. The company gave no additional details about those discussions on Friday, leaving the market to guess.
Silence on Puig
The proposed tie-up with Puig remains the most consequential unknown hanging over Estée Lauder. A deal with the Barcelona-based group, which owns brands including Carolina Herrera and Rabanne, would reshape the global luxury beauty landscape. But with nothing new to say and a turnaround still very much in progress, De La Faverie is asking investors to trust the process.
Three years of sales declines, 10,000 job cuts, and a merger that may or may not happen. At Estée Lauder, the overhaul has barely started.
