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Summer Products Sales: Demand for ACs surges in India as retailers face shortages, leading to production challenges for brands like Haier. Voltas Ltd office saw a retailer camping out for stock, while managing director Pradeep Bakshi dealt with high demand and depleted inventory.
Annapurna Swadisht CAGR: Annapurna's managing director, Shreeram Bagla, infused fresh talent into the company with the goal of reaching a topline of Rs 1,000 crore within 3-4 years from Rs 160 crore in FY'23. "In FY'24 itself, we are targeting to cross a topline of Rs 300 crore, up from Rs 160 crore in FY'23," said GP Sah, joint managing director, in an interview with PTI.
Festive Season: At South City, which continues to be the largest retail destination in not just Kolkata but the entire eastern region, Durga Puja and Diwali have been good but not as spectacular as it had been last year. Footfall during the two-month festive period at the mall dipped from 45 lakh last year to around 40 lakh this year.
Lab-grown diamonds, which emerged as a new category and an alternative to the pricier natural diamonds, became more popular in this year's festive season as prices plunged to less than half year-on-year. Prices of LGD rings with 1 carat solitaire fell to ₹80,000 to ₹1 lakh from ₹2 lakh last year, a fraction of about ₹5 lakh for 1 carat natural diamond ring.
Smartphone Sales: The first phase accounts for 40-50% of total festive sales. The second phase begins a week before Diwali, which is on November 12 this year. This surge reflects a revival in consumer sentiment, which has been subdued for over a year.