Brands
Quikr acquires beauty services start-up Salosa
MUMBAI : Quikr has acquired Salosa, an on demand in-home beauty services provider, which has been a partner to QuikrServices. This strategic acquisition is a part of Quikr’s plan to invest Rs.250 crore in its home services vertical, QuikrServices.
Founded by Ex- P&G professionals, Piyush Dhanuka and Anurag Nair, Salosa was launched in September 2015, serving customers in Gurgaon and parts of Delhi. Salosa began first as a marketplace for freelance beauticians and stylists before shifting to a full stack model with an in-house team.
Talking about this acquisition, QuikrServices head PD Sundar said, “Beauty services market is close to $5 billion in India and is growing which is evident from the increasing number of requests we see from Tier-I and Tier-II cities on our platform. On-demand beauty services is an important sub-category and Salosa will help bring very real benefits to our consumers who get easier access to reliable beauty experts.”
“Quikr is amongst the top consumer internet leaders in India today along with being a major player in the services space. We share a similar vision with Quikr and look forward to combining our experience in the beauty domain with Quikr’s scale and strategy to become the best beauty services brand across the country,” said Salosa co founder Anurag Nair.
QuikrServices has been aggressively going deeper in the home services space to provide consumers a richer experience with reliable professionals. Due to the strength of the Quikr brand, the platform has been witnessing a consistent increase in average spend from its consumers over the last 6 months and is seeing a repeat rate of over 60%. QuikrServices has 250,000 service providers offering over 80 types of services for consumers and is being used by 1,00,000 customers every day.
Brands
YES Bank appoints S Anantharaman as chief risk officer
Former Jio Financial Services group chief risk officer takes charge of enterprise-wide risk at the embattled private lender
MUMBAI: YES Bank is not taking chances with risk anymore. The private lender has appointed S Anantharaman as its chief risk officer, a hire that signals the bank’s continued effort to rebuild credibility and tighten the controls that once famously slipped.
Anantharaman arrives from Jio Financial Services, where he served as group chief risk officer and built a risk management architecture spanning lending, payments, insurance broking and asset management from the ground up. Before that, he held the chief risk officer role at Bank of Baroda and senior leadership positions at HDFC Bank and L&T Finance Holdings. Three decades in banking and financial services, in other words, with scars and qualifications to match. He is a chartered accountant and a CFA charterholder.
At YES Bank, his brief is considerable. Anantharaman will oversee the bank’s entire enterprise-wide risk framework, covering credit policy, market risk, operational risk, information security, data governance, analytics, model governance and data privacy. It is, in short, every lever that matters when a bank is trying to prove it has grown up.
YES Bank’s turbulent past needs little rehearsing. What it needs now is exactly what Anantharaman has spent thirty years building: the kind of risk culture that stops problems before they become headlines. The appointment suggests the bank knows it.
