Brands
TVS Motor hits top gear with 37 per cent revenue jump in December quarter
MUMBAI: When the throttle twists, TVS Motor Company is clearly not easing off. The two- and three-wheeler major delivered a turbocharged performance in the December 2025 quarter, with operating revenue climbing 37 per cent year on year to Rs. 12,476 crore, compared with Rs. 9,097 crore in the same period last year.
Profitability revved up even faster. Operating EBITDA surged 51 per cent to Rs. 1,634 crore in Q3 FY26, up from Rs. 1,081 crore a year ago, while margins expanded to a record 13.1 per cent, ahead of the normalised 12.4 per cent reported in Q3 FY25. Profit before tax, excluding exceptional items, rose 57 per cent to Rs. 1,315 crore, underlining the company’s strong operating leverage.
Volumes told an equally upbeat story. Total two- and three-wheeler sales, including international operations, jumped 27 per cent to an all-time quarterly high of 15.44 lakh units, compared with 12.12 lakh units a year earlier. Motorcycle sales grew 31 per cent to 7.26 lakh units, while scooter sales rose 25 per cent to 6.14 lakh units. International two-wheeler sales accelerated 35 per cent to 3.66 lakh units, and three-wheeler volumes more than doubled, climbing 106 per cent to 0.60 lakh units.
Electric vehicles added extra spark to the quarter. EV sales grew 40 per cent year on year, with TVS recording its highest-ever quarterly EV volumes of 1.06 lakh units, up from 0.76 lakh units in the December 2024 quarter.
The momentum carried through the nine-month period ended December 2025. Operating revenue rose 29 per cent to Rs. 34,463 crore, while operating EBITDA increased 41 per cent to Rs. 4,406 crore. Profit before tax grew 43 per cent to Rs. 3,594 crore, and profit after tax stood at Rs. 2,625 crore, compared with Rs. 1,858 crore in the corresponding period last year.
For the nine months, total two- and three-wheeler sales climbed 23 per cent to 43.28 lakh units. Motorcycles grew 24 per cent to 20.19 lakh units, scooters expanded 25 per cent to 17.52 lakh units, and international two-wheeler volumes rose 35 per cent to 10.47 lakh units. Three-wheeler sales reached 1.59 lakh units, while cumulative EV sales increased 26 per cent to 2.56 lakh units.
With record volumes, expanding margins and a steadily accelerating EV portfolio, TVS Motor appears firmly in cruise mode as it rides demand across domestic and global markets.
Brands
Lululemon picks former Nike executive to be its next chief
Heidi O’Neill, who helped grow Nike into a $45 billion giant, will take the top job in September
CANADA: Lululemon has found its next chief executive, and she comes with serious credentials. The athleisure giant named Heidi O’Neill as its new CEO on Wednesday, ending a search that has left the company running on interim leadership since earlier this year. O’Neill will take charge on September 8, 2026, based out of Vancouver, and will join the board on the same day.
O’Neill brings more than three decades of experience across performance apparel, footwear and sport. The bulk of that time was spent at Nike, where she was a central figure in one of corporate sport’s great growth stories, helping take the company from a $9 billion business to a $45 billion global powerhouse. She oversaw product pipelines, brand strategy and consumer connections, and played a significant role in shaping how Nike spoke to athletes around the world. Earlier in her career, she worked in marketing for the Dockers brand at Levi Strauss. She also brings boardroom experience from Spotify Technology, Hyatt Hotels and Lithia and Driveway.
The board was unequivocal in its enthusiasm. “We selected Heidi because of the breadth of her experience, her demonstrated success delivering breakthrough ideas and initiatives at scale, and her ability to be a knowledgeable change and growth agent,” said Marti Morfitt, executive chair of Lululemon’s board.
O’Neill, for her part, was bullish. “Lululemon is an iconic brand with something rare: genuine guest love, a product ethos rooted in innovation, and a global platform still in the early stages of its potential,” she said. “My job will be to accelerate product breakthroughs, deepen the brand’s cultural relevance, and unlock growth in markets around the world.”
Until she arrives, Meghan Frank and André Maestrini will continue as interim co-CEOs, before returning to their previous senior leadership roles once O’Neill steps in.
Lululemon is betting that a Nike veteran who helped build one of the world’s most powerful sports brands can do something similar for an athleisure label that has genuine love from its customers but is still chasing its full global potential. O’Neill has done it before at scale. The question now is whether she can do it again.
