MAM
Manuj Arora appointed director, ads at Myntra
MUMBAI: Manuj Arora has taken on the role of director at Myntra. He moves into this position after nearly seven years with the online fashion retailer, where he previously held the titles of deputy director from April 2020 and associate director for three years starting in April 2022. During his time as associate director, his responsibilities included leading the gift card and strategic alliances businesses, as well as overseeing approximately 50 per cent of Myntra’s advertising business across various product categories.
Prior to joining Myntra, Arora served as a manager at Sony Pictures Networks India (SPN) for two years. His experience also includes a role as associate group head at Reliance Broadcast Network, where he focused on business development through advertising sales and integrated marketing solutions. Earlier in his career, he held positions at Zee Media Corp Ltd (DNA) as an assistant manager in sales and at Colgate Palmolive in customer development.
In his new role as director at Myntra, Arora will be responsible for Myntra ads, brand partnerships, strategic alliances, and gift cards.
Brands
Buffett bets on The New York Times, cuts Amazon stake
Berkshire invests $352 million in NYT, trims tech, and backs insurance, energy and consumer stocks.
OMAHA: Warren Buffett is famously a creature of habit, but his latest portfolio shake-up suggests even the world’s most patient investor knows when to change the channel. In a move that has sent the media world into a frenzy, Berkshire Hathaway has officially checked into The New York Times while largely checking out of Amazon.
Buffett’s firm snapped up roughly 5.1 million shares in The New York Times Company, a stake valued at a cool $352 million. The Buffett effect was immediate: shares in the publishing giant jumped more than 10 per cent as investors scrambled to follow the leader.
While Buffett offloaded his traditional local newspapers back in 2020, this isn’t a nostalgic trip to the printing press. The New York Times is now a digital powerhouse, fueled by a buffet of subscriptions covering everything from breaking news to Wordle and recipes. It seems the sage of Omaha still has an appetite for businesses with pricing power and a loyal following.
Berkshire slashed its holdings in Amazon by nearly 75 per cent during the final quarter of the year. Once a rare foray into the world of big tech for Buffett, the firm now holds a relatively modest 2.3 million shares. The pruning did not stop there, as other household names also saw a haircut. Apple was reduced to a 1.5 per cent position, while Bank of America was trimmed to 7.1 per cent, signalling a broader pullback from some of its large financial and technology bets.
So, where is the money going? It appears Buffett is heading back to basics, favoring sectors that can weather a storm. Berkshire boosted its positions in Chubb, doubling down on the steady world of insurance; Chevron, fueling up on energy; and Domino’s Pizza, a classic consumer bet that delivers even when the economy doesn’t.
By pivoting toward resilient industries and subscription-heavy media, Berkshire is returning to its roots: finding companies that people simply cannot live without, whether they are hungry for a slice of pepperoni or the morning headlines.
