Category: Business

(L to R) Aleks Koha – CEO of Promoty OU and Yateesh Srivastava – CEO of IMP Marketing Services

Mumbai (Maharashtra) [India], April 1: Promoty OU, a European Influencer Management Platform based in Tallinn, Estonia, has formed a joint venture (JV) with IMP Marketing Services to introduce their products and services in India and Southeast Asia. As part of the JV, Promoty OU will own 40% stake in the new joint venture and licence their platform to IMP Marketing Services.

Promoty offers an innovative platform where brands can filter database of influencers by their statistics, audience age, location, and other demographical aspects. Brands can further check detailed insights for every influencer in the world with respect to followers’ growth over time, previous collaborations, interests, similar profiles and notable followers. This automated process makes interaction between influencers and brands considerably more efficient and effortless.

“Currently a major chunk of the market is based on personal and non-automated interactions between brands, agencies and influencers and this results in lower compensations and delayed payments for influencers”, said Yateesh Srivastava – CEO of IMP Marketing Services. “These are some of the major challenges which we will address along with bringing in a fresh global database and perspective to the industry at large.”

Commenting on the JV, Aleks Koha – CEO of Promoty OU said, “We are excited to partner with IMP Marketing Services for our maiden foray into the Indian market. The influencer marketing segment in the country is at a nascent stage and has a huge growth potential in the coming years. Today many brands worldwide would like to reach out to their customers through an organic and non-advertising manner and this is where Promoty intends to differentiate itself through efficient workflows and advanced analytics that will allow both brands and influencers to make smarter decisions based on data.”

In India, influencer management platforms are still in their infancy, with lifestyle and fashion influencers dominating the industry followed by beauty and travel. Food, entertainment, parenting, health, and fitness influencers are also on the upswing in the influencer list. The JV will allow Promoty OU and IMP Marketing Services to grow its footprint in India’s enormous market and subsequently into rising Asian economies like as Indonesia, Vietnam, Thailand, Korea, and Japan.

Promoty was founded in Estonia in 2017 by Aleks Koha and Leonardo Romanello. Promoty has run over 4000 influencer marketing campaigns in eight markets focusing on the Baltics, Scandinavia, and The Netherlands. Promoty believes that the strongest collaborations are born when brands find influencers who are already their fans. Promoty’s mission is to become the global market leader in providing valuable, meaningful, and authentic relationships between marketers and influencers.

IMP was founded in India in 2021 by Yateesh Srivastava – an established business leader – and Ishika Bhargava – a Gen Z influencer with over 300k followers on Instagram. IMP intends to use the Promoty platform to change the face of influencer marketing in India by expanding its reach and mining valuable insights based on advanced data analytics. IMP intends to expand its footprint into other emerging Asian markets after establishing a strong presence in India.

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Mr. Saurabh Nanavati, Chief Executive Officer, Invesco Mutual Fund

NFO Opens: 30^th March 2022; Closes: 13^th April 2022

New Delhi (India), April 1: Invesco Mutual Fund announces the launch of its new fund Invesco India – Invesco EQQQ Nasdaq-100 ETF Fund of Fund (an open-ended fund of fund scheme investing in Invesco EQQQ Nasdaq-100 UCITS ETF). The fund will invest 95% of its net assets in the Invesco EQQQ Nasdaq UCITS ETF fund, which seeks to generate returns that would correspond to, or track, the return on the Nasdaq 100 index less impact of fees. The Nasdaq-100 index is one of the world’s leading large-cap growth index and provides. NFO Opens: 30th March 2022; Closes: 13th April2022

1. Access to companies at the forefront of innovation

• Exposure to 100 largest US and international non-financial companies listed on the Nasdaq Stock Market based on market capitalization.
• Access to companies with exposure to disruptive technologies.
• Companies that are part of the Nasdaq-100 have a legacy of innovation & growth fueled by robust research and development.

2. Access to companies with strong fundamentals

• Nasdaq-100 index provides access to companies with strong fundamentals.
• Companies which are part of the Nasdaq-100 have strong brand equity, valuable patents and economies of scale that drive product demand and pricing power.

Speaking at the launch, Mr. Saurabh Nanavati, Chief Executive Officer, Invesco Mutual Fund said,“The NASDAQ-100 is more than just an index; it is home to the world’s most influential and innovative companies*like Apple, Amazon, Microsoft, Tesla, Alphabet etc. Further, the NASDAQ-100 is not limited to the technology sector alone it is home to disruptors and leading names from diverse sectors, including consumer discretionary, healthcare and others. It is no surprise that these companies are transforming the world and present a strong investment opportunity.”

“Further, it is a well-known fact that geographical diversification is important and helps reduce overall portfolio risks as different markets perform differently.

“Our global firm manages over US$423bn of global ETFs alone (Overall AuM of US$1.5 trillion)¹ and manages one of the largest fund tracking the Nasdaq-100 Index. As a firm, we are committed to bring newer investment strategies into India for our Indian Investors by leveraging into our parent’s global investment capabilities.”

Underlying Fund Highlights

• The underlying fund is domiciled out of Ireland and has a track record of over 19 years.
• Assets under management of over Rs. 45,873 crs (US$6.09 bn) as on 28^thFebruary 2022.

The minimum investment amount during the NFO is Rs. 1000/- and in multiples of Rs. 1/- thereafter. For SIP investments, the minimum application amount is Rs. 500/- and in multiples of Rs. 1 thereafter. The fund will not charge any exit load on redemptions.

Note: The product labelling assigned during the NFO is based on internal assessment of the Scheme characteristics or model portfolio and the same may vary post NFO when the actual investments are made.

¹ As on September 30, 2021

*The Scheme will not hold the stocks directly in its portfolio and will invest only in Invesco EQQQ NASDAQ -100 UCITS ETF (‘Underlying Fund’)). The stocks /companies referred above are for illustration purpose only and should not be construed as recommendations or Research report from Invesco Asset Management (India) Private Limited and/ or Invesco Mutual Fund. The constituents of Index may vary from time to time and accordingly the Underlying Fund may or may not have any present or future positions in these companies.”

The investors will bear the recurring expenses of the scheme, in addition to the expenses of the underlying scheme.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

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Jaipur (Rajasthan) [India], April 1: PingPong is an innovative payment service provider for cross-border e-commerce businesses, exporters, and freelancers that is growing apace. PingPong, which was founded in New York in 2015 by a group of payments and financial experts, now has operations in India, the United States, Korea, Hong Kong, Luxembourg, Vietnam, and Japan. The PingPong team is dedicated to offering best-in-class services to customers and aiding them in building their businesses, with over 900 people worldwide. Not only this, they are the first Fintech company in key European and American markets to receive regulatory approval.

PingPong India is hosting a series of corporate cross-border events for worldwide vendors in various regions of the country as part of its same-nurturing-businesses campaign. The event began in Mumbai, where the overwhelming response from the client community has made a great impact in the city and it was followed by a similar success in Surat and Jaipur. They are now planning to hold the big scale event in Jaipur Udaipur and Bangalore as well.

PingPong Payments offers several advantages, including the ability to receive payments from foreign direct clients on global marketplaces such as Amazon, as well as receiving accounts in the United States, the European Union, the United Kingdom, Australia, Hong Kong, and Japan. Clients can also receive FIRC quickly, and funds can be withdrawn to an Indian bank in multiple currencies, including INR and USD. They also provide numerous add-on benefits through programmes like BAP and Xcelerate, which assist sellers in extending their business on worldwide platforms.

PingPong Payments celebrated its 6th global anniversary with promotions and loyalty programs to thank and honour its clients. Not only has PingPong provided them with the tools and encouragement they need to expand their global business, but it has also set new industry standards by committing to growing Indian business through their “The Leaders” Program, which rewards loyal clients with trips to the United States, Singapore, Dubai, and other locations where they can learn from and network with successful peers and partners. Soon the Loyalty Program will be held in the Udaipur and Bangalore events.

PingPong was named one of the world’s 250 fastest-growing fintech companies by CB Insights in 2018. PingPong was named one of FXC Intelligence’s Top 100 Cross-Border Payment Companies in 2019 and awarded the Alexander Hamilton Award for Best Practices in Restricted/Emerging Markets.

PingPong’s partners include e-commerce behemoths and SPNs such as Amazon, Shopify, Stelcore, DHL, Vinculum, Gxpress, and others who serve millions of clients globally. The Reserve Bank of India has approved PingPong Global Solution Inc. India Liaison as a PingPong US liaison office (“RBI”). Since 2019, PingPong has had a presence in India, with its headquarters in Bengaluru. It offers one of the simplest methods for receiving international payments in India at the best FX rates. PingPong is the world’s most popular cross-border business game. It’s hassle-free, and anyone may use its portal to sign up for a FREE PingPong account.

PingPong strives to provide an atmosphere that is both compliant and transparent, allowing each customer to gain a competitive advantage in their business. PingPong strongly supports and promotes Make in India firms to extend their cross-border eCommerce operations, given the growing e-commerce global business potential for Indian vendors. Global sellers and exporters can receive money from other countries with complete transparency and at a low cost with ease.

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Mr. Manoj Patodia, Chairman -TEXPROCIL

New Delhi (India), April 1: Shri Manoj Patodia, Chairman of The Cotton Textiles Export Promotion Council (TEXPROCIL) thanked the Hon’ble PM, Shri Narendra Modi ji for his visionary leadership and Shri Piyush Goyal ji, Hon’ble Minister of Textiles, Commerce and Industry and Consumer Affairs, Food and Public Distribution for their relentless efforts which has enabled the finalization of the India UAE CEPA (Comprehensive & Economic Partnership Agreement) on 27^th March 2022.

The Chairman pointed out that with a “zero for zero” duty free access for textiles and clothing, well supported by robust Rules of Origin, Indian export of cotton textiles to the region are poised to grow exponentially in the coming years.

The CEPA is expected to generate an additional increase of US$ 2 billion in overall exports over the next 5 years and will also provide a platform for SMEs to expand internationally by access to new customers, networks and avenues of collaboration. It is also expected to improve the Women Workforce Participation Rate & increase employment opportunities for youth.

The Chairman mentioned that there is good potential for export of cotton textile items like bed & bath linen, kitchen & table linen, curtains & valances, quilts and comforters and cotton woven fabrics including denim.

With the setting up of Warehousing or Distribution Centres in UAE, the CEPA will encourage trade movement to neighboring GCC as well as African markets and initiatives like these will help in collaboration, innovation, and cooperation between the two countries.

With India crossing its ambitious target of US$ 400 billion in goods export this year, the India UAE CEPA will provide the much necessary impetus and momentum to increase our exports in home textiles and fabrics to the UAE, the Chairman added.

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Mumbai – March 31: Kingston Technology, a world leader in memory products and technology solutions, today added a coveted channel partner for its flash business– Shree Computers Sales Private Limited (SCSPL), a leading player for providing technology solutions in India. The company will become one of the primary distributors of Kingston Flash Products in India and will provide best-in-class quality products with high performance to discerning users in the country. Addition of SCPL is Kingston’s endeavor towards reinstating its leadership position in the Flash business, and further strengthening its footprint in the market pan India.

Shree Computers Sales Private Limited (SCSPL) is one of the frontrunners in memory and storage industry in India. Since 2009, SCSPL has endeavored to bridge the nationwide connectivity between the technology solution providers and its users.

The announcement comes on the back of Kingston’s channel centric approach and reinforcing its leadership position. TRENDFOCUS, a leading analyst firm globally has named Kingston as the number one client SSD vendor in the channel with 22.2% for unit market share and 22.3 million client SSDs shipped for all of 2021 in the channel. In Q4 alone, Kingston’s client SSD market share grew to a substantial 26.8% in the channel which displays a healthy annual unit growth despite ongoing component shortages.

Commenting on appointment of Shree Computer Sales Pvt Ltd (SCSPL) as its National Distributor Partner, Mr. Tejashwar Singh, India Sales Head, Kingston Technology said, “Shree Computers has been one of the flag bearers for bringing the latest product and services to market, identifying the latest market needs in the field of technology. and in a way providing synergies to both technology solution providers and its valued users. Our channel partners have always been one of the integral growth drivers, and we are proud to appoint Shree Computers as our National Distributor Partner. We are confident that this will help us in giving a further impetus to our Flash business in India and take our growth story to the next level.”.

Mr. Manish Lunia, Director, Shree Computers Sales Private Limited (SCSPL) said, “Kingston has always been reinventing the flash business segment with its compelling products and solutions. It gives us immense pride to be associated with Kingston Technology- the undeterred leader in the storage and memory segment. Together with the company, we intend to take the best-in-class products in the flash segment to the users across the country and turn a new leaf in the growth of flash business in the Indian market.

Kingston has recently added two PCIe 4.0 NVMe M.2 SSDs to its portfolio with the addition of KC3000 and Kingston FURY Renegade SSD. The high-performance drives joined Kingston’s family of client SSDs to enable those who demand speed and reliability to handle intensive games and application workloads on desktops and laptop PCs.

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Mumbai, March 31: LANXESS closed fiscal year 2021 successfully. Despite immense increases in energy, raw material and freight costs, the specialty chemicals company significantly improved its sales and earnings.

Group sales amounted to EUR 7.557 billion in 2021, up 23.8 percent on the previous year’s figure of EUR 6.104 billion. EBITDA pre exceptionals increased by 17.2 percent to EUR 1.010 billion compared with EUR 862 million a year earlier. Earnings were therefore within the guided range of EUR 1 billion to EUR 1.05 billion. The good results across all of the Group’s segments were mainly driven by strong demand from customer industries such as automotive, construction, transport and manufacturing. Influenced by significantly higher costs and one-time effects, the EBITDA margin pre exceptionals was now 13.4 percent after 14.1 percent in the previous year.

“We promised that 2021 would be a year of growth – and we delivered this against all the odds. We largely passed on the extreme cost increases to the market. In addition, we accomplished four acquisitions in the middle of the pandemic and thus massively expanded our Consumer Protection segment. All this shows the strength and stability that LANXESS now enjoys,” said Matthias Zachert, Chairman of the Board of Management of LANXESS.

Significant growth expected for 2022 – Matthias Zachert was optimistic about the current fiscal year 2022 despite a further increase in costs. “We expect energy and raw material prices to continue to rise in the first half of 2022. Global supply chains also remain fragile. Nevertheless, we would anticipate further significant earnings growth in this fiscal year.” However, the impact of the war in Ukraine is yet unforeseeable. LANXESS anticipates an earnings jump in the first quarter of 2022 and expects EBITDA pre exceptionals to come in between EUR 280 million and EUR 320 million (previous year: EUR 242 million).

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Jeet Chandan & Vidhit Mehta of Shortgun

March 30: ‘The best way to predict the future is to create it’ said Peter Drucker and it is this quote that Mumbai-based serial entrepreneur Jeet Chandan lives by. Jeet is the founder of a Startup Investment & Consulting Firm ‘Entremax’ which helps startups to build digital brands and also gives opportunities for venture funding. Apart from these two the other ventures this young entrepreneur has are Bizdateup – a business networking platform, Internkhoj – an intern hiring platform, and Vipani – a paper trading simulator.

Jeet has been working on the final stages of his next venture ‘ShortGun’, with cofounder Vidhit Mehta. ShortGun is a platform that will lay the groundwork for a path to the metaverse. The platform is all set to begin commercial operations from May 2022. Commenting on the occasion Mr. Chandan said “We are excited to present a one-of-a-kind platform that may revolutionize the way users transact with cryptocurrency. Vidhit, me, and the entire team have worked very hard towards it. We would be launching our token, Shortcoin, which will be used to conduct all transactions on our site. The buyer will purchase a low-cost NFT and will be able to access the platform – which will feature various levels of interactive gaming and learning experiences. The more the users play the more tokens they earn. But this is not it – the best part is that these tokens could be redeemed and we will make an announcement soon about the details.”

Ever since Facebook Inc renamed itself to Meta, ‘metaverse’ has become a buzzword across the globe and has caught the fascination of many bigwigs. The world is fast warming up to the idea of a virtual world representing the real world. It is a seamless combination of the physical and the virtual world and uses technologies like artificial intelligence, virtual reality, augmented reality, 3D imaging, and blockchain among others. “There is no doubt that Metaverse is the future. Early adopters to the technology have already made huge money and are case studies now. We believe education and convenience will bring forward more people to try and use digital currency and assets. It is all about perception. If people get an option to shop for regular stuff like fashion, food, and other consumables they would be more than willing to come forth and be a part of the metaverse. I strongly believe that people will like the varied advantages and offers that we have designed as a platform” said an excited Jeet Chandan as he signed off for the moment.

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