Hindware Appliances Rolls Out New TVC For Hindware Snowcrest i-Fold, India’s First Foldable Air Cooler

*Created and conceptualized by DDB Mudra Group, the quirky film through a simple idea of a misunderstanding brings about an innocent twist-in-tale to introduce i-Fold air cooler.

Hindware Appliances released a new TVC campaign ‘‘Summers mein kare cold, winters mein ho jaaye fold’ to support the launch of Hindware Snowcrest i-Fold, India’s first foldable Air Cooler. The company aims to expand its offering in the air cooler segment with i-Fold, an innovative air cooler that offers efficient cooling with a powerful air throw of 3400 M3 per hour and can be folded up for easy storage when not in use.

Conceptualized by DDB Mudra Group, the film opens with an old man plonking on a couch, complaining about the hot city weather to his son, whom he has come to visit. Busy making tea in the kitchen, the son hears his father’s protests and simply responds, “kholdo” (open it). Confused, the old man unbuttons his shirt, and gradually all his clothes, assuming his son was asking him to undress. When the son finally walks into the living room and finds his father sitting on the couch in nothing but vest and boxers, he points to the foldable Hindware Snowcrest i-Fold Air cooler right next to his father, finally putting an end to the comedy of errors. The film then shifts its focus to the i-Fold’s innovative easy-to-store ability with powerful cooling and concludes by highlighting how the product is a perfect fit for all seasons.

The 360⁰ integrated campaign will be visible on platforms such as TV, print, and digital. The campaign will feature across electronic, print, and digital media platforms for widespread reach, and will air on 24 television channels including GEC Sony Sab, and prominent news channels such as AAJ TAK, NDTV, and ABP Network amongst others. It will also go live on Hindware Appliances social media channels like Facebook, YouTube & Instagram for better targeting.

It will also be available in other regional languages such as Hindi, Marathi, Bengali, Kannada, Tamil, Telugu, Malayalam. The TVC will run across Punjab, Uttar Pradesh, Uttarakhand, West Bengal, Maharashtra, Gujarat, Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, and North Eastern states. 

Mr. Rakesh Kaul, CEO & Whole Time Director, Somany Home Innovation Limited (SHIL), said, “As a company, innovation is at the core of every product we introduce for our customers. Hindware Snowcrest i-Fold is no exception. With i-Fold, we want to offer every Indian home a wholesome solution, not for just summers but for the seasons that follow as well. And now that we have built this summer ready, easy-to-store, powerful air-cooling device, we can’t wait for our customers to make the most of it.”

Mr. Kaul further added, “i-Fold is a one-of-a-kind product, so it had to have a one-of-a-kind campaign. After several scribbled notes and incredible brainstorming sessions, we finally narrowed down on ‘Summers mein kare cold, winters mein ho jaaye fold,’ to perfectly articulate the soul of the product. When finalizing the TVC, we ensured that the entire property was laden with the same elements of fun and simplicity as the tagline, thus truly resonating with the i-Fold’s remarkable offerings.”

Commenting on the commercial, Karan Shetty, Director, Fingerprint Films, said, “When the script came to us last year, my team and I liked how a vague instruction, a simple misunderstanding, and a light-hearted twist-in-tale that could introduce the product with such accuracy. Working on this film was a memorable experience as I got to work with an innovative pioneering product; casted Rajesh Puri, which was a nostalgic trip down the memory lane; to create such a quirky and amusing screenplay.”

Rahul Mathew, National Creative Director, DDB Mudra Group added, “The idea was to have unique fun, because plain fun wouldn’t cut. The play on the word ‘Kholdo’ and the Indian habit of dads to go all commando with the onset of summers was a good space to play in. The TVC made sure i-Fold’s functionality was showcased in all its glory, and the story’s humorous intrigue keeps the audience attached to the piece.”

Toyota Kirloskar Motor To Cover COVID-19 Vaccination Cost Of Employees And Their Families

In continuation to its continuous efforts to safeguard the health and safety of its employees, Toyota Kirloskar Motor (TKM) has announced to cover  COVID-19 vaccination cost for all the employees, their family members and contract employees. The company will reimburse expenses incurred for both the doses of approximately 25,000 members which includes employees, their family members and contract employees.

In order to promote a healthy and safe workplace environment, TKM has undertaken several preventive measures to ensure the overall wellbeing of its employees. Considering vaccination is crucial in the fight against the pandemic, an employee can choose to reimburse the costs of the vaccinations or get them free of charge at company identified health care facility, whichever is convenient.

Commenting on the gesture, Mr. Shankara G, Vice President, Human Resources and Services Group, TKM said, “Our employees are our most valued asset and we place utmost importance to improve the quality of life of our workforce and their families. In addition to providing a conducive working environment, we continually evaluate and introduce unique welfare measures over and above the statutory requirements. Especially during the pandemic, we ensured uninterrupted support by providing facilities ranging from critical health programs and priority doctor-on-call, mental and physical awareness to manage their health needs from home thereby reducing the load on local hospitals. With this gesture, we aim to safeguard the health and safety of all our employees, their family members and the community at large." he added.

TKM has been at the forefront in consistently taking effective measures to counter the outbreak and will continue to support and take adequate measures for the safety of its key stakeholders, healthcare workers and the community. The company has introduced multiple policies and programs that granted employees with paid leaves for the absence due to infection or quarantine. The company also provided special Covid-19 insurance coverage to employees and family, Covid care kit to the families of our employees (Sanjeevini Kit) and nearby community, dedicated hotline services along with extensive CSR support to the frontline workers of the Government of Karnataka amongst other support.  

Bharat Financial Inclusion Limited To Cover COVID-19 Vaccination Cost For Employees

* Over 28000 employees to benefit from this exercise

Bharat Financial Inclusion Ltd. (BFIL), a 100% subsidiary of IndusInd Bank, today announced that it will bear the costs of COVID-19 vaccinations to inoculate over 28000 employees of the company to protect them against the coronavirus. As part of the initiative, the company will fully reimburse the vaccination costs to the employees as and when they receive the two mandated doses.

Speaking on the initiative, Shalabh Saxena, Managing Director and Chief Executive Officer, BFIL, said, “At BFIL, the welfare of our employees has always been our top priority. Through the COVID-19 outbreak, we devised comprehensive business protocols that ensured the health and safety of our entire employee ecosystem. Microfinance being a high-contact business, it was the courage and perseverance shown by our employees that helped us serve our customers without any major disruption. Covering the vaccine costs is just a small way of expressing our gratitude to them and as the government expands the vaccination drive, we encourage our employees to get themselves vaccinated for the well-being and protection of themselves and their family members.”

BFIL had taken several initiatives through the COVID-induced lockdown to support its employees and the local communities that it closely interacts with on a regular basis. During the lockdown, apart from maintaining stringent safety protocols at branches and offices, it also reached out to local government hospitals and provided free medicines while training and equipping frontline health-workers with protective equipment. The company also contributed a sum of INR 1 Crore Rupees to the Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund) to help fight the unprecedented crisis.

About IndusInd Bank Limited:

IndusInd Bank, which commenced operations in 1994, caters to the needs of both consumer and corporate customers. Its technology platform supports multi-channel delivery capabilities. As on March 31, 2020, IndusInd Bank has 1911 branches/ banking outlets and 2760 ATMs spread across 751 geographical locations of the country. The Bank also has representative offices in London, Dubai and Abu Dhabi. The Bank believes in driving its business through technology. It enjoys clearing bank status for both major stock exchanges – BSE and NSE - and major commodity exchanges in the country, including MCX, NCDEX and NMCE. IndusInd Bank was included in the NIFTY 50 benchmark index on April 1, 2013.

Ratings:

Domestic Ratings

●       CRISIL AA + for Infra Bonds program

●       CRISIL AA for Additional Tier I Bonds program

●       CRISIL A1+ for certificate of deposit program

●       IND AA+ for Senior bonds program by India Ratings and Research

●       IND AA for Additional Tier I Bonds program by India Ratings and Research

●       IND A1+ for Short Term Debt Instruments by India Ratings and Research

International Ratings

●       Baa3 as Issuer, Bank Deposits and Senior Unsecured MTN ratings by Moody’s Investors Service

●       P3 as Short Term Issuer Rating by Moody’s Investors Service

About Bharat Financial Inclusion Limited:

Bharat Financial Inclusion Limited is a 100% subsidiary of IndusInd Bank Limited with presence across 23 states covering 1.33 lakh villages. The states include: Karnataka, Maharashtra, Odisha, Madhya Pradesh, Bihar, Uttar Pradesh, Rajasthan, Uttaranchal, Haryana, West Bengal, Jharkhand, Chhattisgarh, Kerala, Punjab, Himachal Pradesh, Delhi, Assam, Tripura, Gujarat, Goa, Andhra Pradesh, Telangana and Tamil Nadu.

Sameer Katole Appointed As The New CEO Of The Designer Tech Brand - Crossloop

* With a deep understanding of the consumer durable market, Sameer Katole aims to make the designer tech brand a leader in the India’s wearable technology segment

Crossloop, a leading tech and lifestyle brand of India has appointed Sameer Katole as the CEO to lead the operations across India and Europe. Sameer will be responsible for bolstering Crossloop’s operations and leveraging his expertise to drive stronger countrywide growth. He has an extensive experience in the consumer durable market.

A veteran with almost 14 years of experience in the consumer durable and retail industry, Sameer has a distinguished track record of sales and market accomplishments. He will be focusing on product, sales, marketing, corporate development and the overall growth of the brand. Sameer will bring in his experience and expertise of managing dynamic clients’ expectations, cross-functional team leadership, boosting sales and business potential, technology innovation, and large scale strategy to fuel Crossloop’s’ journey, in India as well as other potential markets.

Backed by Sanjay Hira, Chairman, Hira Group - Texet Technologies Pvt Ltd, a UK based consumer electronics focused MNC in existence since 1959, Crossloop was launched with a vision to enhance the customer experience within the consumer electronics industry. The startup had received an Investment of 7Mn USD by Hira Group in 2019.

Sameer Katole, CEO, India and Europe said, “I am delighted to embark on this new journey at Crossloop as the CEO. The role brings immense honor and responsibility. I am glad to work with Sanjay and the team to help drive forward the next stage of growth. I am looking forward to contributing to company’s growth in India and international markets as well as its long-term vision of bringing innovations that never stops at Crossloop.”

He also added, “The consumer behavior in the digital age is evolving constantly and with our strong product portfolio, in 2021, we have the vision to ensure that every consumer owns a well-designed, high performance fashion tech accessory and we become their first choice. We aim to achieve minimum 3X topline growth and lead the fashion tech accessory segment in India.”

Today millennials and Gen Z play an increasingly important role in driving the consumer market segments. They are focusing more modern technologies and fashionable tech accessories as this marks a style statement for them. Addressing the personalized needs of the consumer, Crossloop delivers consumer-tech focused, high performance, and designer wearable tech accessories.  The startup aims to bring high-end technology to the masses with its present and future offerings. The current product portfolio includes Pro series earphones, Daily fashion earphone series, Crossloop Gen TWS and Volar, Dorm and Akorn Bluetooth speakers.

About Crossloop

With its audio accessories products, Crossloop is offering customers a perfect cross between design, utility, performance and functionality. Crossloop designer earphones are uber stylish and are for those who would love to flaunt them. A lifestyle brand, primarily focusing on fast moving electronics, accessories and gadgets. Backed by Hira Group, an UK based consumer electronics focused MNC in existence since 1959, Crossloop was launched with a vision to enhance the customer experience within the consumer electronics industry. 

Goldmedal Electricals Announces FAN Launch In Multiple Categories

Goldmedal Electricals, one of India’s leading Fast Moving Electrical Goods (FMEG) Company is foraying into a new product segment with the launch of its innovative and premium range of fans. A company known for introducing various innovations in the wiring device segment and its high quality product design, Goldmedal fans will be available in multiple categories, including Ceiling fans, Table fans, Wall fans, Personal, Pedestal, Portable, Axial as well as Ventilation fans. Many of these fans will be available in super premium, premium and standard variants.

Speaking at the launch, Praveen Jain, Director, Goldmedal said, “Goldmedal has a history of introducing technologically advanced, durable, highly usable products at the right price. With this launch, we aim to introduce superior quality fans in various segments. We are confident that Goldmedal fans will satisfy the demands of the quality-conscious consumer in every way.”

Goldmedal fans will be available in a wide range of styles and models and have a host of features unique to its category. Equipped with energy-efficient motors that function quietly at higher speed and features 100 percent virgin copper windings, Goldmedal fans are highly efficient and ensure less energy consumption. Goldmedal has also announced that they will provide industry-leading support and services through a dedicated call centre that will ensure quick and seamless onsite service for immediate redressal of any grievances.

Kishan Jain, Director, Goldmedal Electricals said "We want to set new benchmarks for quality and service in the industry. By doing a phase wise launch, we want to make sure that we set the right standards of delivery and service in every location before we move to the next phase. We are focussed on quality and innovation and we will continue to bring new ideas to the segment."

The fans will be launched in a phase wise manner in India. The first phase will have Goldmedal fans available in Andhra Pradesh, Telangana and Rajasthan, which will be followed by launches in other Indian states

Bishan Jain, Director, Goldmedal Electricals Electricals, said “To create world class products, you have to invest in high quality infrastructure, materials, and manpower. There are no short cuts if your promise is to deliver the best products in the category. We will continue with the same approach that we have for our wiring devices in the fans category too. We are confident that customers will appreciate the quality of our offerings once they use our products.”

Goldmedal aims to be among the country's top companies in the fans segment over the next five years. It will also be introducing a wider range of smart and IoT fans in the near future with a focus on aesthetically designed fans that will be the choice of consumers who prefer fans with superior visual design. To achieve this, it plans to expand its manufacturing facility to make it a fully-automated, 10 lakh square feet unit that is equipped with the latest, high-tech machines for all aspects of manufacturing including windings, painting and coating.

About Goldmedal Electricals

Goldmedal Electricals is a home grown electrical company which was established in the year 1979 with a vision to create electrical switches and accessories that make a positive difference to the lives of consumers. The company is known in the industry for manufacturing high quality wiring devices and introducing a host of innovations in the industry. 1981, Goldmedal entered the Wires and Cables business. In 1995, the company set up a state of the art manufacturing unit in Goregaon, Mumbai for the manufacturing of wires & cables and modular switches. Alongside Wires and Cables, the company today manufactures a vast range of electrical products including various types of Switches, Home automation systems, Security Systems, Entertainment devices, Door bells, Wires, Cables and more for residential buildings as well as commercial establishments.

Lux Industries Plans Greenfield Expansion With Capex Of Rs. 110 Cr

Lux Industries Limited (NSE: LUXIND, BSE: BOM: 539542) one of India’s largest hosiery producer and exporter has announced that that its Board of Directors has approved a greenfield expansion plan attuned to INR 110 crores. The company has already identified a land parcel measuring the construction area of around 4,60,000 Sq.ft of which 20% to 30% will be used for manufacturing unit and balance for warehousing, storage and finishing facilities. The capex will be completed over next 12-18 months. Lux Industries has three major facilities in Kolkata, Tirupur and Ludhiana, which are capable of producing more garments than the installed capacity due to the improved efficiency and flexible manufacturing capabilities. It is also working towards way more flexibility in terms of capacity with enhanced mechanical tools and scientific way of working according to the market demand. 

Currently Lux Industries is running at full production capacity however it is also having 3rd party long-term contract to enhance the production capacity and hence company is planning to infuse the capital for supply chain but well supported with the increase in own production capacity also. Lux Industries generates sufficient internal accruals to finance its capital expenditure and do not need any external funding. The company’s profits take care of their capital expenditures. With this investment Lux Industries is expecting to get an incremental sale of around Rs. 400 crores. 

Commenting on the expansion Mr. Ashok Kumar Todi, Chairman said, “Despite the advent of Covid-19, our performance continues to remain strong, and we continue to see robust demand. To support this northward trajectory of growth, we have decided to invest Rs. 110 crores in a greenfield expansion to be completed in next 12-18 months. Our flexible manufacturing approach has made us more agile in responding to strong demand estimation. The new investment will further augment our ability to act swiftly and improve our market share in existing segments as well as new segments like kids’ and women innerwear.”  

Commenting on the expansion Mr. Pradip Todi, Managing Director said, “The new capex of Rs. 110 crores will have an asset turnover of around 4 times thereby generating additional revenue of around Rs. 400 Crores. The flexible manufacturing approach has helped usto improve our operating as well as return matrix and the new capex will strengthen it further. Ason December 31, 2020, we had a cash balance of Rs. 140 crores which will be sufficient to fund the capex fully. We expect to maintain our Net Cash status positive even after completing the capex backed by our strong operating cashflow and focus on reducing working capital further.”  

Currently the company has around +1 million sq. feet area of which around 30% is being used for manufacturing process like knitting, cutting and rest is used as warehousing, storage and finishing facility. Due to improved operating efficiency and flexible manufacturing approach, the total stock movement in FY20 was around 200 million pieces translating to a utilization of around 100% across all the major facilities in Kolkata, Tirupur and Ludhiana. The company continues to operate at full capacity, which necessitated the investment in greenfield expansion of manufacturing as well as warehousing and storage facilities. 

Lux have always been proactive in adopting newer methods of production developing innovative products and targeting the right audience via branding and promotional activities. Its customer centric approach has helped the brand to expand their visibility and created strong brand equity for the entire brand portfolio. With a strong assortment of 15 brands offering mass, mid premium and premium products across demographics. It has helped the brand to outperform the market and generate a pricing premium. Another new initiative which the company recently ventured into is EBOs network called COZYWORLD, currently operating with 5 stores. And going forward by the end of FY2022, the company is looking at opening about 60 to 70 stores both company owned and franchisee operated stores enhancing the brand experience with all products from Lux portfolio under one roof. Lux Industries works for increasing customer satisfaction by providing value for money. It aims to capture the additional market share in existing segment as well as entering to new segments like Kids and Ladies wear. The company is planning to expand in the southern parts of India where there is extreme potential for business growth. The merger with JM Hosiery and Ebell Fashions will help unlock substantial value to their stakeholders and will help in streamlining the business. 

About Lux Industries Limited Lux Industries Limited, incorporated in 1995 is one of the largest players in the hosiery business having a market share of ~20% of the organised industry. Products include Men’s, Women’s & Kids Innerwear, Winterwear, Socks & Sacks for Women in varied colours and designs. The company has ~5,000 SKU’s under various Brands and Sub Brands of LUX. With focus on growing exclusive retail outlets and in providing customers with a seamless buying experience, the company’s products are available in ~4,50,000 retail points spread across India. LUX has a presence across the globe with exports to 47 countries.  

Equitas Small Finance Bank Appoints New Leaders in Tech, Digital, Operations, HR Among Others

Equitas Small Finance Bank ropes in industry experts to lead important verticals like Retail Assets, Technology, Digital, Operations and Human Resourcesof the bank. The leading small finance bank has recently appointed Mr. Narayanan Easwaran as Chief Technology Officer, Mr. Vaibhav Joshi as Chief Digital Officer, Mr. Pallab Mukherji as Chief People Officer, Mr. Siby Sebastian as Executive Vice President – Operations and Mr. Rohit Phadke as President and Head of Retail Assets. 

As the Chief People Officer, Mr. Pallab Mukherji will be based out of the head office in Chennai, along with the newly appointed Chief Technology Officer - Mr. Narayanan Easwaran, Executive Vice President Siby Sebastian and President and Head of Retail Assets - Mr. Rohit Phadke. The Chief Digital Officer will be based out of the bank’s Mumbai office. 

While Mr. Narayanan Easwaran, Mr. Rohit Phadke and Mr. Pallab Mukherji will be reporting to the Managing Director- Mr. Vasudevan P N, Mr. Vaibhav Joshi, the newly appointed Chief Digital Officer will be reporting to Mr. Narayanan Easwaran. Mr. Siby Sebastian as Executive Vice President – Operations will be heading the Centralized Processing Centre of the Bank across all products . 

Mr. Narayanan Easwaran as Chief Technology Officer: 

Narayanan, till recently served as Co-head for technology for IDFC First Bank Ltd. (Erstwhile, Capital First Ltd.) He has over two decades of experience on IT applications & infrastructure management, of which more than fifteen years have been I retail banking and finance businesses globally. Narayanan is a result-oriented technology leader and has been responsible for building and managing complex IT solutions designs, which have enabled businesses to innovate, differentiate and scale up rapidly. He has worked with business leaders in visioning and implementing IT infrastructure as a strategic and key differentiator. He has worked across industry verticals such as Banking and Finance, IT and Media with reputed conglomerates and leading banks.  

Mr. Pallab Mukherji as Chief People Officer: 

Pallab is a reputed HR leader with over 25 years of experience in Manufacturing and Financial Service Industry. He has excelled in strategizing and implementing various facets of HR including Resourcing, Remuneration and Performance Management. He has led the people side of the merger in large entities. Prior to joining Equitas Small Finance Bank, he worked with HDFC Bank and Arvind Mills. His last corporate assignment was to head Human Resources for the India Infoline Group. He has also worked as a consultant in HR for several Banks and Financial Services companies in India, South Asia and the Oceania regions. As a consultant, he was affiliated to IFC, World Bank Group and was involved in key organization transformation projects. 

Mr. Rohit Phadke as President and Head Retail Assets: 

Rohit Phadke is going to lead the bank’s initiatives in Affordable Housing Finance and Loan Against Property. Rohit shall be reporting into the Managing Director. He shall work in close coordination with other business heads. Rohit last worked with Cholamandalam Investment & Finance Co. Ltd as Business Head – Home Loans. Rohit had a long career with Cholamandalam having worked with them for 18 years. Post completion of his MBA from Pune University, Rohit worked with Apple Finance Limited before joining Cholamandalam. 

Mr. Vaibhav Joshi as Chief Digital Officer: 

Vaibhav has 20 years’ experience after completing his education in Australia. Before joining Equitas Small Finance Bank, Vaibhav worked with Yes Bank from November 2014 to December 2020, last as Group Executive Vice President & National Head – Digital Banking. 

Mr. Siby Sebastian as Executive Vice President – Operations: 

Siby is a Chartered Accountant with close to 25 years’ experience. He has last worked with SBM Bank India as COO & Deputy CEO and was instrumental in setting up their India operations. Prior to that Siby worked with ICICI bank for 14 years last as Head of Retail Operations and Service. He started his career with Deloitte and then worked with Kotak Mahindra before joining ICICI Bank. About Equitas Small Finance Bank: 

Equitas Small Finance Bank Limited is the largest SFB in India in terms of number of banking outlets, and the second largest SFB in India in terms of assets under management and total deposits in Fiscal 2019. (Source: CRISIL report). As of September 30, 2019, its distribution channels comprised 853 Banking Outlets and 322 ATMs across 15 states and union territories in India. Its focus customer segments include individuals with limited access to formal financing channels on account of their informal, variable and cash-based income profile. It offers a range of financial products and services that address the specific requirements of these customer segments by taking into account their income profile, nature of business and type of security available. Its asset products are suited to a range of customers with varying profiles. These include provision of small business loans comprising loan against property, housing loans, and agriculture loans to micro-entrepreneurs, microfinance to joint liability groups predominantly comprising women, used and new commercial vehicle loans to drivers and micro-entrepreneurs typically engaged in logistics, MSE loans to proprietorships, and corporate loans. On the liability side, its target customers comprise mass and mass-affluent individuals to whom the Bank offers current accounts, salary accounts, savings accounts, and a variety of deposit accounts. In addition, it also provides non-credit offerings comprising ATM-cum-debit cards, third party insurance, mutual fund products, and issuance of FASTags.