New Delhi [India] October 11: Artificial Intelligence (AI) is transforming industries worldwide, and the legal sector is no exception. As legal professionals strive for efficiency amidst growing workloads, AI solutions like LAWFYI.IO are emerging as essential tools that revolutionize legal research and set new benchmarks for speed and accessibility.
Legal professionals are increasingly turning to AI to streamline their practices. According to reports, AI has proven instrumental in automating repetitive tasks, freeing lawyers to focus on more strategic and impactful work. By analyzing vast datasets in seconds, AI expedites legal research, offering unprecedented accuracy and speed in locating relevant case laws, statutes, and legal texts.
At the forefront of this shift is LAWFYI.IO, an innovative AI-powered platform designed to simplify legal research in India. The platform’s intuitive interface allows lawyers to access critical information with ease, enabling faster decision-making and higher-quality client service. This trend of integrating advanced technology into legal field highlights how AI is enhancing legal practices by boosting efficiency and effectiveness.
Here are the capabilities of LAWFYI.IO:
AI Legal Research: LAWFYI.IO leverages an intuitive AI chat interface that helps users find relevant legal cases, statutes, and commentary with accurate citations using natural language prompts. This feature is beneficial for legal professionals conducting case law research.
AI Legal Drafting Tools: It offers streamlined legal drafting capabilities, allowing users to generate legal documents efficiently within the platform.
Advanced Legal Insights: LAWFYI.IO includes an AI-driven PDF reader tailored for legal documents, offering features like text recognition and annotation to simplify document review.
Ecosystem for Professionals: LAWFYI.IO provides a comprehensive ecosystem for legal professionals, offering an all-in-one platform where every aspect of case preparation is seamlessly connected.
Visionary Behind LAWFYI.IO
Driving LAWFYI.IO’s success is Kshitij Chandravanshi, a visionary entrepreneur who recognized the urgent need for smarter legal research tools in India. His legal background, combined with a deep understanding of technology, enabled him to develop a platform that addresses the unique challenges faced by legal professionals in the country. Kshitij’s goal is to democratize legal knowledge, making it more accessible while helping legal professionals adapt to modern technological advancements.
As professionals face increasing pressure to innovate and meet rising client expectations, LAWFYI.IO is proving that AI can fundamentally enhance the legal profession. The platform not only improves operational efficiency but also strengthens client-lawyer relationships by empowering lawyers with faster, more accurate research tools.
The Future of AI in Legal Research
As AI technology continues to evolve, the future of legal research looks promising. Platforms like LAWFYI.IO will play a pivotal role in helping legal professionals navigate the complexities of the law while providing superior client services. By breaking down barriers to information access and streamlining research processes, LAWFYI.IO is emerging as a game-changer in India’s legal market.
In conclusion, AI’s integration into legal practice is not merely a trend but a transformative shift that promises greater efficiency and enhanced client outcomes. LAWFYI.IO is setting a new standard in legal research, empowering lawyers to deliver results faster and more accurately.
But the question remains: How will LAWFYI.IO continue to revolutionize the legal landscape in India?
This article has been contributed by Sanjay Sehgal, Founder, Chairman and CEO, MSys Technologies.
An economic slowdown can impact startups and businesses negatively. But it can also present some unique opportunities that can make a startup survive and thrive during a crisis.
For any business, “recession” is the most feared word. By definition, a recession is two consecutive quarters of negative economic growth. There can be multiple reasons for this decline. However, the result for a business is almost the same. The economic slowdown is inevitable. However, this does not mean that navigating through the changed consumer behavior and uncertainty in the labor market will be easy.
However, if a business is strategizing beforehand and focusing on long-term goals, it will help it adapt to the changing environment of the market. A business might even emerge stronger and more resilient after weathering the recession.
What is an Economic Slowdown?
A recession or an economic downturn is a period of slow economic growth, which includes declined GDP, a low growth rate in the job market, declining global demand, reduced credit availability, and increased cost of borrowing. The effect of recession is notable on both businesses and individuals, creating financial bubbles and often having negative effects on society at large. The looming fear of unemployment and hoarding habits, to name a few.
The Most Common Causes of an Economic Slowdown
There can be various factors, even a combination of multiple factors, that can result in a recession in a country or a region for a specific period.
While high interest rates can help manage inflation, this can result in declining borrowing rates for both businesses and individuals, which results in reduced investment and spending.
Financial bubbles created by rising stock prices, real estate, and commodity prices can evaporate with time. This can cause a sharp contraction in the economy.
A financial crisis in the country can lead to a recession, which can have a direct effect on businesses, big or small.
Natural disasters or pandemics are unforeseeable circumstances that can lead to economic slowdown. The recent COVID pandemic has caused the door to close for many small businesses and startups.
Direct Effects of Recession on Startups
Economic slowdown can translate into risk increases, reduced cash flow, and many other obstacles for businesses, especially startups. According to the reports of TICE, India’s startup news streaming OTT platform, 50%–70% of startups, backed by venture capitalists, had to stop operations in 2023. In fact, this platform says that the first quarter of 2024 is worse than 2023 in terms of companies closing doors due to the economic slowdown.
For a startup, getting the funding is crucial. During a recession, this can be severely affected. Venture capitalists might reduce their funding, which will directly affect startups.
Raising funds from other sources can be difficult too. For seed funding or bootstrapping, the recession is not a good time to make a crucial financial decision.
Owing to the decreased cash flow, startups might have difficulty managing their operations, manufacturing processes, and delivery.
While the recession affects business and investment, it also changes individual consumer behavior effectively, resulting in reduced leads and sales.
Businesses might experience longer exits during an economic crisis.
However, it is not all this bleak. There can be some opportunities too for startups during a recession.
Due to the economic slowdown, the otherwise cutthroat market becomes less competitive. With proactive planning, startups can get an edge in this situation.
Owing to the reduced demands, startups can get better deals from their vendors, which will help them save more while running the operations and manufacturing.
To keep up with the changed consumer purchasing behavior, startups can offer attractive deals, which will get them more business and sales.
Strategies to Survive an Economic Slow Down and Grow Faster
When it comes to the economic slowdown, having proactive strategies can help businesses in many ways. While survival becomes the priority during such times, the goal should be not only to survive but also to thrive.
Preparing a Financial Plan for Crisis
Proactiveness requires a firm to prepare the company to handle the shock and downside of any crisis. So, to manage the effects of the recession, a startup must have a financial plan. This will help the business to thrive even during the economic slowdown. The steps for this should include:
Complete evaluation of the monthly spending
Ensuring that the business has an emergency fund for such situations
Active and regular analysis of the cash flow and investment
Developing an alternate revenue plan for this situation
Regular debt clearance, especially the highest ones
Reduction and Cost Efficiency
Cost efficiency is not just about reducing costs but also optimizing the resources that are available to achieve the best results in any given situation. Cost efficiency will help the business preserve cash, maintain a regular chain of profitability, and finally keep the operations uninterrupted.
Leveraging technology can help a business reduce the cost of wages and benefits of resources. In this way, operations can be streamlined and human resources can be used to perform high-value tasks. While core competencies can be managed by the business itself, some work that does not require the core competencies can be outsourced.
Innovation and Diversification
Innovation is key to helping a business adapt to adverse market conditions, find a competitive edge, and deliver to the ever-evolving expectations of the customers. While startups often focus on only one business model, innovation can help bring in more products and services that can generate a steady revenue flow for the business. For example, during the recession in 2001, Apple moved forward and launched iPods instead of scaling back, which resulted in massive success and helped the brand build more recognition and customer loyalty.
Diversifying the products and services will help a business weather the storm of an economic slowdown. New strategies, a broader scope for products, and more revenue will help the company keep afloat. In 2008, Netflix transformed itself from a DVD rental service to a streaming service that catered to the changing demands of the customers, effectively making the brand a market leader in online streaming.
Focus on Customers
Most importantly, for any business, the focus should be on the customers and their demands. The aforementioned brands could become pioneers as they anticipated the needs of the potential customers and catered to them at the right time. This requires constant market research, understanding the changing buyers’ persona, having clarity of the problem that your customers are facing, and creativity to solve that problem. No matter what a business does, the customer is always God.
To wrap it up, every storm comes with a silver lining. Even in the middle of an economic downturn, brands have proved their mettle by finding opportunities for growth that helped them rise even during financially unstable times. Hence, constant innovation is the way to go. The focus should be to come out on the other side of the storm as much stronger and bigger.
The annual Entrepreneurship Fest of BITS Pilani KK Birla Goa Campus, Coalescence, has concluded its 2024 edition, leaving attendees buzzing with inspiration and fresh ideas. This year’s event brought together an impressive array of distinguished speakers, including Ankur Warikoo, visionary startup founders like Rajesh Dembla, and leading industry sponsors like Red Bull, creating a dynamic atmosphere for networking and collaboration. Participants engaged in thought-provoking discussions, shared innovative ideas, and gained invaluable insights into the entrepreneurial landscape. Let’s reflect on the highlights and key takeaways from this transformative event.
The fest opened with compelling talks from Ankur Warikoo and Aakash Anand, setting a high-energy tone. Warikoo shared his entrepreneurial mindset, emphasizing resilience and adaptability. His personal anecdotes about turning failures into lessons resonated deeply with the audience. Anand followed with his candid reflections on his journey in the beauty industry, offering motivational insights on authenticity in business.
As participants continue to apply the lessons learned from these sessions, the Coalescence Fest remains a pivotal platform for aspiring entrepreneurs, fostering connections and igniting innovative ideas in the community.
Day 2 began with a representative from the Unit Trust of India, who shed light on the world of mutual funds and shared effective strategies for improving personal finance. A standout moment from Day 2 was the panel discussion, where Prasanna Subramaniam, CTO of Fly91; Saurabh Bothra, founder of Habuild; and Mohit Bhandari, The founder and CEO of Stratzy shared their personal journeys of building startups. The audience’s questions fueled a lively discussion about emerging market trends and future opportunities.
Keynote speakers Rajesh Dembla and Vijender Chauhan rounded out the day with thought-provoking presentations. Dembla shared the philosophy behind his brand, Zoozle, emphasizing the importance of authenticity and purpose in business. Meanwhile, Chauhan delved into the implications of social media and AI on our decision-making processes, offering practical tips on how to navigate these digital influences.
The day concluded with a vibrant networking night, where attendees forged connections and explored potential partnerships, leaving a lasting impression.
On the final day, participants delved deeper into personal finance with a representative from the Unit Trust of India and engaged in competitive events, including a business case study competition, a stock pitching contest and a venture capitalist simulation. These activities fostered collaboration and strategic thinking.
As the day wrapped up, the campus came alive with a lively jamming session, where students showcased their musical talents in an atmosphere of camaraderie. This celebration of connections made throughout the fest blended learning and creativity, leaving everyone with lasting memories and new found inspiration.
As the Coalescence Entrepreneurship Fest concluded, it significantly impacted all attendees. Over three dynamic days, participants engaged with industry leaders, honed their skills through competitions, and forged valuable connections, fostering a vibrant community of aspiring entrepreneurs. The festival ignited innovative ideas and empowered attendees to confidently embrace their journeys, ensuring the spirit of collaboration and entrepreneurship thrives within the BITS Pilani community.
The passing of Ratan Tata on October 9, 2024, at the age of 86, has left India in deep mourning. He passed away due to health complications in Mumbai’s Breach Candy Hospital, leaving behind an extraordinary legacy.
It is obvious that there are hardly any Indians who have not benefitted from his work. Very few humans create such a great impact in the lives of millions. Let’s dive into the life and story of this incredible human, who not only helped grow the Tata Group into a global company but also showed great kindness and dedication to social causes.
Ratan Tata – Biography
Name
Ratan Naval Tata
Birth
December 28, 1937
Place of Birth
Mumbai, India
Education
Cornell University (Bachelors in Architecture) Harvard Business School (Advanced Management Program)
Ratan Naval Tata was born on December 28, 1937, into the distinguished Tata family. Despite being born into one of India’s most well-known industrial families, Ratan had a humble and grounded upbringing. After his parents’ separation, he was raised by his grandmother, Lady Navajbai Tata, a key influence in shaping his strong sense of values.
Ratan’s formal education took him overseas. He did his schooling at Campion and then at Cathedral and John Connon in Mumbai. Later, he pursued a degree in Architecture from Cornell University. His time at Cornell was crucial, helping him develop a unique way of thinking. He learned to combine creativity with practical problem-solving, which would later define his approach to business.
After working with the various branches at Tata, he went on to pursue the Advanced Management Program at Harvard Business School and completed it in 1975.
Ratan Tata – Career
Ratan Tata began his career in 1962, on the shop floor of the plant of Tata Engineering and Locomotive Company in Jamshedpur, where he worked alongside blue-collar workers, learning the ropes of the business from the ground up. His modest entry into the family business is a testament to his character. He didn’t simply rely on his family’s name but instead chose to work his way up, proving his mettle.
After passing his years in diligent learning, collecting experiences, and handling responsibilities at various parts of the Tata Group, he went on to take up the greatest responsibility of his career.
In 1991, he took over as the Chairman of Tata Sons, succeeding the legendary J.R.D. Tata. It was a challenging time for India, with economic liberalization just beginning. However, Ratan Tata was quick to recognize the changing tides and led the Tata Group through a series of strategic global acquisitions, including Tetley Tea, Jaguar Land Rover, and Corus Steel. These moves not only expanded Tata’s footprint globally but also transformed it into a truly international conglomerate.
Despite his towering presence in the business world, Ratan Tata remained a private person. He never married, choosing instead to dedicate his life to his work and philanthropy. Known for his humility and grounded nature, he always sought to keep a low profile, often steering clear of the limelight despite his immense popularity.
He was also known for his love for cars, aviation, and architecture—interests that reflected his versatile personality. He was an avid pilot and continued to fly well into his 70s. Tata’s love for flying extended beyond civilian aircraft. In 2007, at 69 years old, hemade history by flying an F-16 fighter jet at the Bengaluru Aero event, becoming the oldest Indian to pilot an F-16. His passion for architecture stayed with him, and he remained involved in the field, even serving on the jury of the prestigious Pritzker Architecture Prize from 2014 to 2019.
Ratan Tata – Key Milestones
Under Ratan Tata’s leadership, the Tata Group achieved significant milestones. One of the most notable was the launch of the Tata Nano, the world’s cheapest car, aimed at providing affordable transportation to millions of Indians. Although the car did not succeed commercially, it was a testament to Tata’s vision of making products that would benefit the common man.
He also played a key role in acquiring several international brands, making Tata Group a global entity. His leadership brought Tata Consultancy Services (TCS) to the forefront of the IT industry, making it one of the most valuable IT companies in the world.
Tata’s decision to retire in 2012 marked the end of an era. However, even after stepping down as chairman, he continued to serve as the Chairman Emeritus and remained deeply involved in various philanthropic activities through the Tata Trusts.
Ratan Tata’s legacy isn’t just confined to the boardroom. His contributions to philanthropy have left a permanent mark on India. He was known for his deep commitment to causes such as education, healthcare, and rural development. Under his leadership, Tata Trusts became one of the largest and most active philanthropic organizations in India.
His love for the welfare of his employees was very evident during the 26/11 Mumbai terror attacks. After the attacks, Tata personally visited the families of those affected, ensuring they received the support they needed.
He was also a firm believer in promoting education. His generous donations to institutions like Cornell University and the Tata Institute of Social Sciences helped in shaping future generations.
He was instrumental in setting up the Tata-Cornell Institute for Agriculture and Nutrition, which focuses on reducing poverty and improving nutrition in India and beyond.
His compassion extended beyond just humans; he was known for his love for animals, especially the stray dogs he looked after at the Tata headquarters in Mumbai.
He once said,
💡
One day you will realize that material things mean nothing. All that matters is the well-being of the people you love.
Ratan Tata – Love From the People
Ratan Tata was often seen interacting with employees, whether on the factory floor or at the office, listening to their concerns and sharing their joys.
His widespread popularity stemmed not just from his role as an industrial titan, but from his genuine kindness and deep empathy for everyone around him.
One major factor that sets him apart from others is his humility and sense of compassion towards others. Even though he was one of the most powerful industrialists in India, that did not create any impact on his simplicity and genuine concern for others.
That’s the reason his death has created such a wave of grief & sadness among the millions of Indians.
Ratan Tata – Awards
Ratan Tata Honored with Padma Vibhushan and Padma Bhushan
Among the major recognitions and awards that Ratan has received, the most prestigious one is the Padma Vibhushan, the country’s second-highest civilian honor, which the Government of India awarded him in 2008. Other key honors include the Order of Australia (2023), Assam Baibhav (2021), Honorary Knight Grand Cross of the Order of the British Empire (2014), Maharashtra Bhushan (2006), and Padma Bhushan (2000).
Ratan Tata – Best Quotes
Take the stones people throw at you, and use them to build a monument.
I don’t believe in making the right decisions. I take decisions and then make them right.
I don’t believe in work-life balance. I believe in work-life integration. Make your work and life meaningful.
A Legacy to Remember
Ratan Tata’s passing marks the end of an era for India. As tributes pour in from across the world, it is clear that his legacy is not just one of corporate success, but of kindness, vision, and an unwavering commitment to making the world a better place.
His contributions to both business and society will continue to inspire generations to come. Ratan Tata may have left us, but his spirit, values, and legacy will endure forever.
FAQs
Who was Ratan Tata?
Ratan Tata was a well-known Indian industrialist and philanthropist. He was Chairman Emeritus of the Tata Group and worked to grow the company globally while supporting education and healthcare initiatives in India.
What’s Ratan Naval Tata date of birth?
Ratan Naval Tata was born on 28 December 1937 in Bombay (now Mumbai).
When did Ratan Tata pass away?
Ratan Tata passed away on October 9, 2024, at the age of 86 due to health complications.
Was Ratan Tata a Padma Vibhushan recipient?
Ratan Tata was awarded the Padma Vibhushan in 2008, which is India’s second-highest civilian honor. He received this award for his exceptional contributions to industry and philanthropy in India.
What was Ratan Tata’s educational background?
Ratan Tata graduated with a degree in Architecture from Cornell University and completed the Advanced Management Program at Harvard Business School.
What are some key Ratan Tata quotes on education?
Some of the prominent Ratan Tata’s quotes on education are:
Don’t educate your children to be rich. Educate them to be happy, so when they grow up, they will know the value of things, not the price.
Your real learning starts now as you go into the real world. The tools have been given to you, but what you make in life is what you do after you graduate.
Two well-known sportswear brands, Puma and Adidas, have made a big impact on the athletic and lifestyle fashion sectors. Even though they both come from Germany, they have different strategies for branding, marketing, and design in the competitive sportswear market.
Puma is famous for its creative designs and partnerships with influencers and celebrities. They focus on mixing sports with lifestyle. On the other hand, Adidas is known for its popular lines like Adidas Originals. They stay strong in both professional sports and casual wear because they prioritize technology and performance.
In this article, we’ll explore the story behind these iconic brands. We’ll provide a comparison of their business strategies, market positioning, and innovative approaches. Let’s see what has shaped their success in the global sportswear industry.
How Did It All Start? The Rivalry Between the Two Brothers
The rivalry between two brothers – Puma vs Adidas
The turbulent story of the family of entrepreneurs starts in thesmall German town of Herzogenaurach, Germany. It was here that the Dessler Brothers, Adolf (“Adi”) and Rudolf (“Rudi”) Dassler founded and successfully ran a shoe shop together in the early 1920s. In 1919, they founded the shoe manufacturing company Gebrüder Dassler Schuhfabrik, or Geda for short.
The Olympics and the success of Geda
Jesse Owens – Puma vs Adidas
Despite the challenging political landscape in Germany during the 1930s and 1940s, Geda achieved success. It was demonstrated in the 1936 Olympics where the legendary African-American runner Jesse Owens wore Geda shoes as he won a gold medal.
With the Olympic win, the sales of the Dassler Shoe grew. However, their relationship soured due to tensions, conflicts, and personal issues, eventually leading to the dissolution of their partnership in 1948. \
In 1949, Adolf Dassler founded Adidas, while Rudolf Dassler started Puma. They moved to different sides of the Aurach River and gave employees the choice of whom they wanted to work for. This marked the rise of two global brands and the beginning of a fierce battle for dominance in the international sports market. The brothers sued each other many times over the years over all sorts of Design and Trademark issues. This cost each other a fortune in lawyers and suits.
The PeléPact
Pele pact – Puma vs Adidas
“The Pelé Pact” was an arrangement signed by Armin Dassler (the son of Rudolf Dassler) of Puma and his cousin Horst Dassler (Adolf’s son) a few months before the 1970 FIFA World Cup. Pelé was off limits to Adidas and Puma according to this agreement, which felt that a bidding battle for the world’s most famous athlete would get too expensive. However, Puma broke the deal and signed Pelé.
The most significant development in the rivalry between the Dassler brothers was the “Pelé Pact” breach, which angered Horst and led to the cancellation of further peace negotiations.
Now, let’s move into a comparison of Adidas and Puma, examining their business models, brand identities, and marketing strategies to better understand how each brand positions itself in the market.
Adidas vs Puma: Business Model
Business Model – Puma vs Adidas
When we discuss Adidas, it has a very value-driven company strategy, therefore producing high-quality goods that offer customers the most value comes first. This covers costs related to production and manufacturing, distribution and storage, and research and development. Adidas appeals to more people than only professional athletes and sports fans, even if its primary focus is on sportswear and footwear. Adidas outsources the production portion of their company to independent contractors, to whom they rely heavily. As a result, the more than 1,000 suppliers—the majority of whom are based in Asia—who make their clothes and footwear lines are their most important business partners.
Conversely, Puma’s business strategy is centered on offering items that are performance-driven and stylish. Puma provides its clients with a variety of value propositions, ranging from performance, innovation, style, sustainability, brand legacy, quality, and durability, to sports and lifestyle.
Sportswear, footwear, accessories, performance gear, lifestyle collections, and sustainability initiatives are some of Puma’s main offerings. Athletes, fitness enthusiasts, fashion-conscious consumers, youth markets, sports teams, and environmentalists are among the primary customer sectors that it focuses on. Product sales, licensing and brand collaborations, performance gear sales, lifestyle collections, online sales, and sustainability initiatives are some of the ways it makes money.
Adidas vs Puma: Brand Identity
Brand Identity – Puma vs Adidas
A brand needs to communicate well with its customers and create a sense of belongingness. Adidas is well-known for its recognisable three-stripe emblem and is frequently linked to performance, innovation, and collaborations with athletes and sports organisations.
Conversely, Puma is well-known for fusing sports and lifestyle fashion and for its eye-catching leaping cat emblem. The company is well-known for both casual and sporty clothing.
Adidas vs Puma: Marketing and Sponsorships
Marketing and Sponsorships – Puma vs Adidas
Adidas and Puma have both become well-known sportswear businesses by utilising a variety of marketing techniques. Adidas and well-known athletes and sports organisations have a history of strategic alliances. This includes international collaborations with groups like Manchester United and long-term connections with football players such as Lionel Messi.
Adidas has effectively combined sports and lifestyle by working with celebrities, fashion designers, and artists to produce one-of-a-kind collections. It stays active on social media, interacting with users through eye-catching posts, new product announcements, and marketing initiatives.
Puma has purposefully partnered with influencers and celebrities, like Kylie Jenner and Rihanna, to develop exclusive designs. These collaborations enhance Puma’s reputation as a pioneer in the sports and lifestyle domains. Puma frequently presents itself as a brand that appeals to younger consumers by highlighting current trends and cultural significance.
Puma is a sponsor of several teams and sporting events, including football teams like Borussia Dortmund and AC Milan. This tactic upholds Puma’s reputation for performance and athleticism. Like Adidas, Puma capitalises on the allure of limited-edition products. This scarcity marketing strategy piques customers’ interest by evoking a sense of urgency and exclusivity.
Adidas vs Puma: Research and Development Lab
R&D – Puma vs Adidas
The company’s research and development (R&D) initiative, Adidas Future Lab, has made progress in preparing the technologies that athletes will need in the future. Since 2010, the lab has improved athletes’ lives via the use of advanced robotics, 3D scanning, motion analytics, and other technologies.
Adidas has practically transformed into a tech corporation with its rising R&D expenditures. In 2022, the Adidas Group spent approximately 153 million euros on research and development.
To foster creativity and provide top-notch goods for athletes and customers, PUMA maintains specialised research and development facilities. Situated in Boston, Massachusetts, USA, the PUMA NITRO Lab is one of their cutting-edge labs. The lab collects information to support data-driven decisions on every facet of PUMA footwear.
Since 2013, the sportswear brand Puma has significantly boosted its investment in research and development. The corporation invested heavily in 2022, allocating over 80 million euros towards research and development.
For a thorough comparison between Adidas and Puma, the financials have to be presented. In 2023, Puma reported revenues of €8.6 billion, showing a modest increase from €8.47 billion in 2022. This steady growth highlights Puma’s resilience in a competitive market.
Adidas Group, meanwhile, generated €21.43 billion in 2023, a decline from €22.51 billion in 2022. The dip in Adidas’ revenue reflects some challenges the brand faced over the past year, possibly due to shifting consumer trends or increased market competition. Despite this, Adidas remains significantly larger in terms of overall revenue compared to Puma.
Adidas vs Puma: The Real Battle
Market share pie chart – Puma vs Adidas
Both brands are competing with each other to be at the top and to gain their market share. One of the greatest assets that Adidas has is that of innovation. This is demonstrated by the numerous ground-breaking technological innovations it has made, like BOOST and Primeknit, which have increased sales and enhanced its market value. The corporation operates in more than 160 countries and has a strong global footprint. Due to its extensive distribution network, which consists of partnerships with individual merchants, online retailers, and physical stores, it can reach a wide range of markets and geographical areas.
Adidas has a broader range of products than some of its competitors, but its product lineup is still smaller. Adidas outsources a large portion of its manufacturing to facilities in countries where labour costs are lower. This strategy might save money, but it also puts the company at risk for issues like unsafe working conditions, labour law infractions, and supply chain disruptions.
Puma has a lengthy history in the athletic industry and is a well-known brand throughout the world. Its e-commerce sites, retail locations, and independent retailers make up a sophisticated distribution network. Despite being a well-known brand, Puma’s market share is significantly lower than that of leaders in the industry like Adidas.
Puma manufactures a large number of its items in nations like China, Vietnam, and Indonesia, utilizing a worldwide supply network. Increased manufacturing costs, delays, or shortages may result from supply chain disruptions caused by events like trade disputes, natural catastrophes, or unstable political environments. Counterfeit products also hurt Puma and Adidas’s sales and brand reputation in the worldwide sportswear market.
Today Herzogenaurach is still home to Adidas and Puma. Since 1986, Puma has been a publicly traded business, having gone public on the Frankfurt Stock Exchange. Along with Adidas, Puma is one of the leading shoe brands and has over 18,000 employees globally.
Adidas reported their highest-ever revenues by year’s end, and CEO Herbert Hainer was upbeat about the upcoming year. Adidas currently operates numerous company locations across the globe, including London, Portland, Toronto, Tokyo, Australia, Taiwan, and Spain, in addition to its worldwide corporate headquarters in Herzogenaurach, Germany. The first mobile reservation app for the footwear industry was released by Adidas in January 2015. Using geo-targeting technology, customers may reserve and obtain access to the brand’s limited-edition trainers through the Adidas Confirmed app.
Concluding Thoughts
The sports sector has been significantly impacted by the competition between Puma and Adidas. These companies have grown to be worldwide giants and have influenced sports marketing. The Dassler brothers’ intense rivalry lasted until their deaths despite their achievements, establishing a legacy of rivalry and hatred. Today, both brands continue to lead the global athletic market, always finding new ways to improve. Their competition drives innovation in sportswear technology. This helps them maintain a strong presence in key markets and keeps their influence strong in the sports industry.
FAQ
What is Adidas’ full form?
Adidas doesn’t have a full form; it’s named after its founder, Adolf “Adi” Dassler, combining his nickname and last name.
Who is the CEO of Adidas?
The current CEO of Adidas is Bjørn Gulden, who took over the role in 2023.
What is Puma’s full form?
Puma doesn’t have a full form; the brand is named after the puma, a wild cat known for its speed and strength, reflecting the company’s focus on athletic performance.
Who is the CEO of Puma?
Arne Freundt is the CEO of Puma, having taken over the role in 2022. He leads the company’s global operations and continues to drive Puma’s growth in the competitive sportswear market.
Who is richer, Adidas or Puma?
Adidas is generally considered richer than Puma in terms of revenue and market share. Adidas consistently reports higher annual revenues and has a larger global presence compared to Puma in the sportswear industry.
[New Delhi] – [10/10/2024]: Samunnati, a leading agri-value chain enabler company dedicated to empowering smallholder farmers, has successfully raised ₹1123 crore in debt funding in the first half (H1) of FY25. The highlight of this financial year is the successful onboarding of 14 new lenders, who have contributed around ₹480 crores, which is a significant milestone in Samunnati’s growth journey. The new lenders include prominent banks like Kotak Mahindra Bank, Indian Overseas Bank, ESAF Karur Vysya Bank, and Impact lenders Blue Earth and Enabling Qapital.
Samunnati’s robust business growth, meaningful impact, and reputation as a reliable partner in rural development have instilled confidence among investors. Samunnati has also explored Innovative funding routes, such as online bond platforms wherein over 5500 investors have subscribed to Samunnati’s bonds, demonstrating the growing confidence in the company’s mission and financial stability.
Mr. Anil Kumar SG, Founder and CEO at Samunnati said, At Samunnati, our relentless focus on deepening and strengthening the entire agricultural value chain has allowed us to achieve remarkable milestones in just six months of FY24-25. By integrating financial solutions with market access and capacity building, we are creating a robust ecosystem that empowers farmers and FPOs at every stage of the value chain. The funds will enable us to scale further, unlocking greater opportunities for India’s agri-community and bringing us closer to our vision of sustainable growth and rural prosperity.
He added that despite the rising interest rates and a tightening credit environment, Samunnati has managed to reduce the average cost of borrowings for sanctions by 20 basis points. This reflects the company’s efficient operations and strong creditworthiness.
Samunnati’s impressive financial growth story continues this year also, building on the strong momentum of last year (FY23-24) where it had secured funding totalling $155 million (Rs 1158 Crore) for the whole financial year. During the last FY, it attracted investments from investors like USDFC, Credit Saison, Tata Capital, Poonawalla, Hinduja Leyland Finance, Wint Wealth, Altifi, Alteria Capital, and Anicut Capital.
About Samunnati
India’s largest agri enterprise, Samunnati is an open agri network to unlock the trillion-dollar-plus potential of Indian agriculture with smallholder farmers at the center of it. Serving the entire value chain, Samunnati’s Agri Commerce and agri-finance solutions enable affiliated Farmer Collectives and the larger ecosystem to be more efficient and productive. Samunnati has a presence in more than 100 agri-value chains spread over 23 states in India. Samunnati currently has access to 6500+ Farmer Collectives with a member base of over 8 million farmers.
Tata Group is an Indian global aggregate holding organization headquartered in Mumbai, India. Established in 1868 by Jamsetji Tata, the organization increased worldwide acknowledgment in the wake of acquiring a few global companies. Perhaps the biggest aggregate, TataGroup is claimed by Tata Sons.
Each Tata organization works autonomously under the direction and supervision of its directorate and investors. Noteworthy Tata’s organizations and backups incorporate Indian Hotels Company, Tata Chemicals, Jaguar Land Rover, Tata Communications, Tata Consultancy Services, Tata Motors, Tata Power, Tata Steel, Voltas, and much more.
Case study of Tata Group, an Indian global aggregate holding organization headquartered in Mumbai, established in 1868 by Jamsetji Tata. Read more about it in detail in this article.
In 1870 with INR 21,000 capital, Jamsetji Tata founded an exchange organization. He purchased a bankrupt oil plant at Chinchpokli and transformed it into a cotton plant under the name Alexandra Mill which he sold for a profit after 2 years. In 1874, he set up another cotton factory at Nagpur named Empress Mill.
His aim was to accomplish 4 main objectives: setting up an iron & steel organization, an exceptional inn, a world-class learning establishment, and a hydroelectric plant. During his lifetime, the Taj Mahal Hotel at Colaba waterfront was opened in 1903, making it the first in power in quite a while.
After Jamsetji’s passing, Dorabji Tata, his son, became the Chairman in 1904. Sir Dorabji built up the Tata Iron and Steel organization (TISCO), presently known as Tata Steel, in 1907. Denoting the gathering’s worldwide aspirations, Tata Limited opened its first overseas office in London. Soon as per Jamsetiji’s wish, Western India’s first hydro plant was set up and the Indian Institute of Science was also set up in 1911.
JRD Tata was crowned Chairman of Tata Group in 1938. Under his chairmanship, the benefits of the Tata Group developed from $100 million to over $5 billion. When he took over TATA, it had 14 undertakings, but in 1988 Tata Sons had developed into a combination of 95 endeavors. These endeavors comprised adventures that the organization had either begun or held controlling interests in.
In 1952, JRD established an airline, known as Tata Air Services (later renamed Tata Airlines). In 1953, the Government of India passed the Air Corporations Act and acquired a larger part stake in the transporter from Tata Sons; however, JRD Tata would continue as Chairman till 1977.
In 1945, Tata Motors was established and was first centered around trains. In 1954, it entered the business vehicle showcase in the wake of shaping a joint endeavor with Daimler-Benz. In 1968, Tata Consultancy Services was established.
In 1991, Ratan Tata was crowned Chairman of Tata Group. This was additionally the time of financial advancement in India, opening up the market to remote contenders. During this time, Tata Group started to obtain various organizations like Tetley (2000), Corus Group (2007), and Jaguar & Land Rover (2008). In 2017, Natarajan Chandrasekaran was named administrator.
Tata Group Companies
List of the Tata Group’s Chairmen from 1868 to Present
The Tata Group is considered India’s number one conglomerate multinational company with its headquarters situated in Mumbai. The company is known to be in business for more than 150 years of service and its products are widely spread across multiple fields.
The company is known to provide services in more than 150 countries and covers about six continents. Since the time of its service, there have been several chairmen noted to work for Tata Group. The list of Tata Group’s Chairman is given below:
Jamsetji Tata 1868 – 1904
Jamsedji Tata 1868 – 1904
Born on 3 March 1839, Jamsetji Tata was an Indian Pioneer and the founder of today India’s biggest group of companies called Tata Group. He was the first Chairman of the firm and remained in the same post till 1904.
Sir Jamsetji Tata is honored with many titles and awards. He was given the honorary tag of “Father of Indian Industry”. He was also ranked first in the list of “Hurun Philanthropists of the Century (2021)”. Sir Jamsetji Tata left the world on 19 May 1904, at the age of 65.
Sir Dorabji Tata 1904 – 1932
Sir Dorabji Tata 1904 – 1932
Born on 27 August 1859, Sir Dorabji Tata was the eldest son of Sir Jamsedji Tata and the second chairman of the Tata Group. He died in 1932 giving rise to the third chairman of the Tata Group.
Sir Dorabji Tata played an essential role in forming and maintaining the Tata group of industries during the British era. The prime focus of Sir Dorabji Tata was to fulfill the dream left by Sir Jamsedji Tata and establish the modern iron and steel industry.
Sir Dorabji Tata was the first president of the Indian Olympic Association. He was also acknowledged by the Britishers. In 1910, Dorabji Tata was knighted by Edward Vll to be referred to as Sir Dorabji Tata.
Sir Nowroji Saklatwala 1932 – 1938
Sir Nowroji Saklatwala 1932 – 1938
Born on 10 September 1875, Sir Nowroji Saklatwala was the third chairman of the Indian multinational conglomerate Tata Group. Unlike the previous two chairmen, he was just a mere employee and an apprentice of the Tata Group.
He made his way up from an employee to Chairman and remained in the same post till his sudden death due to heart failure in 1938. Sir Nowroji Saklatwala introduced many schemes and facilities for the employees and always worked well for the welfare of the employees.
JRD Tata 1938 – 1991
JRD Tata 1938 – 1991
Born on 29th July 1904, Jehangir Ratanji Dadabhoy Tata was the fourth chairman of the Tata Group. He was the second child of Ratanji Dadabhoy Tata, the cousin of Jamsedji Tata. JRD is the only chairman of Tata Group who has served for more than 50 years. JRD Tata was also the first Indian to be granted a commercial pilot license.
And owing to his interest in the aviation industry, JRD Tata established Tata Aviation Services. He made many contributions to the company and was also acknowledged for his efforts. JD Tata is also the owner of the Padma Vibhushan and the Bharat Ratna awards. After two years of resigning as the chairman of Tata Group, Sir JRD Tata died on 29 November 1993.
Ratan Tata 1991 – 2012, 2016 – 17
Ratan Tata 1991 – 2012, 2016 – 17
Born on 28 December 1937, Ratan Naval Tata was the fifth chairman of the Tata Group. Ratan Tata was the son of a Naval Tata. Naval Tata was the adopted son of the sir Jamsedji Tata. Ratan Tata started as an assistant in the Tata Group and made his way up to the fifth chairman of the company.
Ratan Tata was appointed as the chairman of the company in 1990 and remained in the same post till 2012. He was again known to serve the Tata Group as an interim chairman for the period between October 2016 and February 2017.
Ratan Tata had contributed to shaping the firm from the time he was appointed as the chairman, the Tata Group was in a chaotic form. Under the guidance of Sir Ratan Tata, the company flourished again. Ratan Tata is also the holder of many awards like the Padma Bhushan (2000) and Padma Vibhushan(2008).
Ratan Tata passed away on October 9, 2024, at the age of 86. He had been admitted to the Hospital due to age-related health issues and to manage his blood pressure.
Born on 4 July 1968, Cyrus Pallonji Mistry was the sixth chairman of the Tata Group and also the second chairman in consideration to not bear the tag of “Tata” in their surname. Cyrus Mistry joined the Tata Group as a board member and was soon elected as the chairman of Tata Group in 2012.
However, just after four years of chairmanship, he was removed from the position of chairman by the board of members. The prime reason behind his removal has many debates on the topic. It is stated that Cyrus Mistry did not acknowledge the history of the Tata Group and was keen on developing the firm in his way.
There were also reports stating that Cyrus Mistry filed a case against Tata’s heads for oppressing the interest of small stakeholders. The issue between Cyrus Mistry and Ratan Tata was taken to the legal procedures where on 26th March 2021, the Supreme Court of India ruled out the decision in favor of Ratan Tata and dismissed the rumors of Cyrus Mistry being reinstated as the group chairman.
Irrespective of the ups and downs faced by Cyrus Mistry, he was categorized as the most important industrialist in both India and Britain in the year 2013 in an article published by the Economist. Unfortunately, on 04 September 2022, Cyrus Mistry died in a road accident in Maharashtra.
Natarajan Chandrasekaran 2017- Present
Natarajan Chandrasekaran 2017- Present
Born on 2 June 1963, Natarajan Chandrasekaran is the seventh and the current chairman of the Tata Group. He is the only chairman in the history of the Tata Group who is a non-Parsi and professional executive. He was previously working as the chief operating officer and chief executing officer of the Tata consultancy services.
The journey of Natarajan Chandrasekaran as the chairman of the Tata Group is not a smooth one. In the year, 2019, the National Company Law Appellate Tribunal (NCLAT) held his position as chairmanship illegal and gave the order to restore Cyrus Mistry as the Executive Chairman. Yet again in 2020, the Supreme Court of India overruled the decision of NCLAT. Natarajan Chandrasekaran is still known to work as the Chairman of the Tata Group.
The Tata Business Excellence Model (TBEM) is an altered adaptation of the internationally famous Malcolm Baldrige Model. TBEM is utilized by the Tata business group to remain in step with the regularly changing business conditions.
TBEM focuses on seven central activities: administration, key arranging, client and market center, estimation, examination and learning of the executives, human asset center, processing of the board, and the business results. Execution is estimated in outright focuses, and organizations need to accomplish at least 500 (out of 1,000) within four years of consenting to the BEBP arrangement.
Accomplishments are granted by acknowledgment over the group. TQMS helps Tata’s business organizations utilize the model to pick up bits of knowledge on their business qualities and open doors for development. This is overseen through a yearly procedure of appraisal and affirmation.
TBEM Criteria Purpose
Tata Business Excellence Model (TBEM) is the reason for leading authoritative evaluations and for offering input to candidates. Moreover, the TBEM criteria have three significant jobs in reinforcing aggressiveness:
To help improve authoritative execution practices, abilities, and results.
To encourage correspondence and sharing of best practices among associations of various kinds.
To fill in as a working apparatus for comprehension, overseeing execution, and directing hierarchical arranging and open doors for learning.
TBEM-based performance excellence goals.
TBEM Criteria are intended to enable associations to utilize a coordinated way to deal with hierarchical execution.
Conveyance of regularly improving an incentive to clients and partners; adds to hierarchical maintainability.
Improvement of by and large authoritative viability and capacities.
Hierarchical and individual learning.
The Role of core values and concepts.
Leadership
The administration tends to observe how your senior heads manage and support your association and set an authoritative vision, qualities, and execution desires. Consideration is given to how your senior chiefs speak with your workforce, create future pioneers, measure hierarchical execution, and make a domain that energizes moral conduct and elite.
The category additionally incorporates your association’s administration framework and how it guarantees moral conduct and practices great citizenship.
Strategic Planning
Vital planning leads to activity arranging, sending of plans, how satisfactory assets are guaranteed to achieve the plans, how plans are changed if conditions require a change, and how achievements are estimated and supported.
The strategic planning category focuses on long-haul authoritative support. While numerous associations are progressively capable of vital arranging, plan execution is a noteworthy test.
This is particularly obvious given market requests to be spry and to be set up for sudden change, for example, troublesome innovations that can disturb a generally quick-paced yet increasingly unsurprising commercial center. This category features the need to put an emphasis on building up your arrangements as well as on your capacity to execute them.
Customer And Market Focus
Client and market focus caters to how your association tries to comprehend the voice of the client and of the commercial center with attention to fulfilling clients’ necessities, needs, and desires, enchanting clients, and building steadfastness. The category stresses connections as a significant piece of a general tuning, learning, and execution greatness technique.
Your consumer loyalty and disappointment results give indispensable data to understanding your clients and the commercial center. Much of the time, such outcomes and patterns give the most significant data on your clients’ perspectives as well as on their commercial center practices (e.g., rehash business and positive referrals), and how these perspectives and practices may add to the manageability of your association in the commercial center.
Measurement, Analysis, And Knowledge Management
The Measurement, analysis, and knowledge management category is the primary concern inside the criteria for key data about successfully estimating, investigating, improving execution, and overseeing authoritative information to drive improvement and hierarchical intensity.
In the least complex terms, category 4 is the “mind focus” for the arrangement of your association’s activities with its vital goals. Fundamental to such utilization of information and data is their quality and accessibility.
Workforce Focus
Workforce focus caters to key workforce rehearses coordinated towards making and keeping up an elite working environment and towards drawing in the workforce to empower it. It also deals with the way in which the association adjusts to change and succeeds.
The category covers workforce commitment, improvement, and the board in a coordinated way (i.e., lined up with your association’s vital targets and activity plans). To fortify the essential arrangement of the workforce, this criteria additionally covers human asset arranging as a major aspect of the strategic planning category.
Tata Company’s Main Business Sectors
Process Management
Procedure Management is the point of convergence inside the Criteria for your key work frameworks and works forms. Incorporated with the category are the focal necessities for recognizable proof and your abilities to accomplish productive and powerful work process administration, successful structure, a counteractive action direction, linkage to clients, providers, accomplices, and colleagues, and an emphasis on esteem creation for every single key partner, operational execution, process duration, crisis availability, assessment, ceaseless improvement, and authoritative learning. Dexterity, cost decrease, and process duration decrease are progressively significant in all parts of the procedure.
In straightforward terms, “deftness” alludes to your capacity to adjust rapidly, deftly, and successfully to evolving prerequisites. Contingent upon the idea of your association’s methodology and markets, readiness may mean quick change starting with one item and then onto the next, fast reaction to evolving requests, or the capacity to deliver a wide scope of tweaked administrations.
Readiness likewise progressively includes choices to redistribute, concurrences with key providers, and novel courses of action. Adaptability may request unique procedures, for example, executing particular structures, sharing segments, sharing assembling lines, or giving specific preparation.
Cost and process duration decrease frequently including Lean procedure the board systems. It is essential to use key measures for following all parts of your general procedure.
Business Results
The resulting category gives outcomes that include your target assessment and your clients’ assessment of your association’s items and administrations, your general money-related and showcase execution, workforce results, initiative framework, social duty results, and the consequences of every single key procedure and procedure improvement exercise.
Through this center, the Criteria’s motivations: prevalent estimation of contributions as seen by your clients and the commercial center, unrivaled hierarchical execution as reflected in your operational, workforce, lawful, moral, and monetary pointers, and authoritative and individual learning are kept up.
Classification 7 in this way gives “constant” data (proportions of progress) for assessment and improvement of procedures, items, and administrations in arrangement with your general authoritative technique.
The organization emphasizes the 4Ps (Product, Price, Place, Promotion) which exude Tata Group’s advertising methodology.
Product
Tata Group Products
The item procedure and blend in Tata Group’s promoting technique can be clarified as pursues. Tata Group is one of the main aggregates in India. Tata Group has its essence in a few enterprises and has units spread over the world. The Tata gathering is into the following business verticals:
Communication and ITeS: Tata Communications, Tata Teleservices, Tata Consultancy Services, Tata Elxsi, and Tata Interactive Services.
Consumer and Retail: Tata Sky, Titan, Landmark, Infiniti Retail, and Casa Decor.
Defense and Aerospace: Tata Advanced Materials, Tata Industrial Services, Tata Technologies, and Tata Manufacturing Services.
Realty and Infrastructure: Tata Power, Tata Housing Development Company, Tata Consulting Engineers, Tata Power Solar, and Voltas.
Financial Services: Tata AIA Life Insurance, Tata AIG General Insurance, Tata Capital, and Tata Investment Corporation.
Manufacturing: Tata Chemicals, Jaguar Land Rover, Tata Steel, Tata Motors, and Tata Daewoo Commercial Vehicle Company.
Services: Tata SIA Airlines – Vistara, Tata Services, Tata Technologies, Taj Air, TM International Logistics, and Tata Global Beverages.
This rundown isn’t comprehensive. It has more than seventy brands which take into account twenty-eight separate businesses.
Price
All organizations of the Tata gathering capacity function autonomously. Each of these organizations is one of a kind and particular from one another. In this way, the estimating technique in its promoting blend pursued by these individual organizations differs as they are all in various ventures confronting diverse financial variables, capital, scale, and so on.
Which TATA Company Earns the Most
Place
Tata gathering is available in more than eighty-five nations more than six landmasses. The gathering has developed to a tremendous scale all-inclusive. The greater part of its organizations are forward-thinking and give benefits on cell phones and hold a decent nearness on the web.
Promotion
The free organizations under the Tata brand advance their image (and their own identity) through individual promoting plans. Tata’s administrations and customer items are known to utilize big names like Titan, Taj Hotels, and so forth. Print media is additionally utilized widely by organizations like Tata Steel and Tata Motors.
Organizations like that of Guard and Consultancy are more B2B in nature; they don’t enjoy mass advancements. Since this is a helpful showcasing of the brand, here are the other three Ps that form the 7Ps advertising blend of Tata Group.
People
The Tata bunch all in all utilizes 6,60,800 representatives. The Tata Group itself is possessed by Tata Sons. The Tata Quality Management Services part is responsible for managing the quality administration branch of more than a hundred autonomous organizations to guarantee primary quality principles as the Tata gathering remains the mainstay of value and trust.
Physical Evidence
The sheer size of the Tata gathering is proof of it being a seething achievement and market pioneer. Tata Gathering’s business sector top is 7.2% of the all-out market top of BSE.
Procedure
The Tata gathering strategizes to develop by securing mergers around the world and incrementing its topographical limits. The gathering likewise targets obtaining the wellsprings of crude material.
For setting, the Tata gathering has profound enthusiasm for getting steel plants all over the globe with the goal that it can give steel at any rate to its car organization, subsequently disposing of the issue of the store network and profiting from the economies of owing the wellspring of crude material.
It has in the past procured misfortune by acquiring worldwide mammoths like Tetley tea, Land Rover, and Jaguar. Henceforth, this finishes up the promoting blend of Tata Group aggregate.
In a nutshell, one can say that the “Tata group” is one of the most inspiring idols for new entrepreneurs. Tata Company is one of the pride of India and a shining example of success for younger business climbers.
There are many new examples set by Tata Group in front of the World. The above article contains the company details with its basic information like marketing strategy, business model, list of chairmen, etc.
FAQs
Who is the founder of Tata Group?
Jamsetji Tata is the founder of Tata Group.
Why is Tata Group Successful?
Tata Group abides by its mission and works on ethics. Many competitors of Tata Group are publicly owned firms, whereas Tata is a family business that now has grown into a big multinational conglomerate. Its success lies in its core values and an undefeated business model.
What are the 5 Tata values?
Tata Group is driven by 5 major values. They are integrity, responsibility, excellence, pioneering, and unity.
Which company is the most profitable in the Tata group?
As per the report, Tata Consultancy is the most profitable company in the Tata Group in 2023.
Why is Ratan Tata an inspiration?
Ratan Tata has set many examples for the young generation to look at and learn. The prime reason behind Ratana Tata being an inspiration is that he is a combination of an excellent businessman and a great human being.
What is Tata’s first business?
Jamsetji Tata started the business in 1868 as a commerce company and later expanded into other industries.
California [US] October 10: Karthik Jakranpally, a seasoned Salesforce expert with over 10 years of experience, has carved out a notable career in the Salesforce ecosystem. His journey, marked by certifications and hands-on expertise, reflects his deep understanding of development, administration, and implementation within Salesforce CRM. Karthik’s ability to lead diverse teams both onshore and offshore, while managing the complexities of agile environments, has made him a standout figure in the tech world, particularly in the areas of banking, finance, and healthcare.
Certified Expertise and Technological Acumen
Karthik’s impressive certification portfolio is a testament to his commitment to mastering Salesforce’s vast capabilities. He holds four pivotal certifications:
Salesforce Certified Administrator
Salesforce Certified Advanced Administrator
Salesforce Certified Service Cloud Consultant
Salesforce Certified Platform Developer I
These certifications lay the foundation for his expertise in Salesforce Clouds, including Sales Cloud, Service Cloud, Health Cloud, and Financial Services Cloud (FSC). His technical acumen spans various Salesforce tools and technologies, with core competencies in Apex, Lightning Web Components (LWC), and Flows, allowing him to drive performance optimization and superior user experiences. Notably, Karthik’s knowledge of Salesforce Lightning, Apex, Aura, and Visualforce has enabled him to deliver impactful and scalable solutions for his clients across industries.
A Leader in Salesforce Implementation
In his current role as a Senior Salesforce Developer with Valiant IT Services Inc., Karthik has been instrumental in supporting the financial sector. Leading the Salesforce development and customization for a 300-user Salesforce org, he has played a key role in enhancing business processes, automating workflows, and implementing solutions tailored to the client’s unique needs. His leadership in managing Salesforce Financial Services Cloud (FSC) has revolutionized how client management and regulatory compliance are handled, streamlining client onboarding and improving customer engagement. Additionally, Karthik’s integration expertise through Apex REST API has fostered seamless data flow between Salesforce and external systems.
At Valiant IT Services, Karthik has been tasked with complex projects that required building and deploying new custom objects, optimizing UI/UX through Lightning Web Components, and mentoring junior developers. His meticulous focus on business automation through Process Builder, Lightning Flows, and Approval Processes has significantly improved operational efficiency. He has also contributed to designing and executing test cases with the QA team, ensuring that projects meet the highest standards of quality and performance.
Driving Innovation in Healthcare with Salesforce Health Cloud
Karthik’s previous experience with Talent IT Services Inc allowed him to bring innovation to the healthcare industry. Working as a Senior Salesforce Developer, he was part of a pivotal project focused on integrating Salesforce Health Cloud with external systems. The project required pulling clinical data from external sources and mapping it to Salesforce objects, a task he accomplished with precision using REST API integrations. This integration enabled healthcare providers to manage patient data efficiently, driving payer sales and improving provider services. His work on creating patient scheduling systems via Salesforce Scheduler and managing cases through Service Cloud greatly enhanced operational workflows within healthcare facilities.
His responsibilities included optimizing Health Cloud implementations, automating business processes through Lightning Web Components (LWC) and Aura Components, and overseeing CI/CD pipelines using Salesforce DX and Jenkins, which reduced deployment times significantly. Karthik’s contributions to the healthcare domain have ensured that patients receive timely care while improving how healthcare organizations manage their processes.
Building a Strong Foundation in Financial Services and Technology
Karthik’s foray into the world of Salesforce began in the financial services sector. He worked on projects that involved creating Salesforce-based solutions to automate and manage financial products for banking institutions. His role as a Salesforce Developer involved customizing the Salesforce platform to streamline workflows, improve user functionality, and integrate with external systems. His early expertise in building Apex REST API web service classes, automating workflows, and customizing user interfaces laid the foundation for his continued success in more complex roles.
His attention to detail, whether working on complex SOQL and SOSL queries or integrating external systems, has been pivotal to the smooth operation of the financial systems he developed. These solutions allowed his clients to manage their financial products more effectively, streamline product offers, and enhance reporting capabilities. Throughout this period, Karthik showcased his ability to simplify complicated processes, establishing a standard of excellence that he has maintained throughout his career.
A Visionary Mentor and Agile Team Leader
Beyond his technical prowess, Karthik has proven himself as a capable and inspiring leader. Whether it’s mentoring junior developers or liaising with product teams, architects, and business analysts, Karthik’s collaborative approach ensures that projects run smoothly from inception to completion. His leadership has been pivotal in delivering high-quality results within agile environments, and his commitment to fostering growth in others highlights his passion for mentorship.
Karthik’s dedication to continuous learning, combined with his experience in deploying Salesforce DX packages and API development, has solidified his role as a thought leader in the Salesforce domain. His ability to bridge the gap between development, business needs, and technological advancements has positioned him as a crucial asset in any team he leads.
Karthik Jakranpally is a dynamic force in the Salesforce community, with a proven track record in developing innovative solutions that enhance business processes across various industries. His mastery of Salesforce technologies, combined with his leadership skills and passion for mentoring, has set him apart as a thought leader in the field. Whether working in finance, healthcare, or banking, Karthik continues to push the boundaries of what is possible within the Salesforce ecosystem, helping organizations achieve operational excellence and drive growth.
With a career that reflects adaptability, dedication, and technological expertise, Karthik’s contributions to the Salesforce landscape are poised to leave a lasting impact for years to come.
The history of eCommerce is closely entwined with the history of the internet. Once the internet was available to the masses, eCommerce was a step away. One of the first sites of eCommerce was Amazon, which began in the USA.
Since then, convenience, safety, and the enjoyable user experience have ensured the exponential growth of the industry with thousands of businesses following in Amazon’s footsteps. Over the years, eCommerce has slowly but surely gained prominence and the pandemic has catapulted it into becoming the primary medium of shopping.
Let’s have a look at Ecommerce Diwali Sales over the years with expected 2024 Diwali sales.
Market Size of E-commerce Industry Across India From 2014 to 2018, With Forecasts Until 2030
Ecommerce in India has emerged from a buzzword to the current daily reality and has experienced remarkable growth. It has successfully changed the way people transact. According to IAMAI (Internet and Mobile Association of India), the Indian eCommerce market recorded an exponential CAGR of 54.6% between the years 2007 and 2011. Within the four sectors of eCommerce, B2B (Business to Business), B2C (Business to Consumer), C2B (Customer to Business), and C2C (Customer to Customer), the B2C segment dominated the market with a 56% share in FY 2010-2011. The other segments, too, showed significant growth.
As the penetration of the internet and smartphones deepened, it directly affected the popularity and the volume of sales of eCommerce sites. Driven by the ‘Digital India’ program, the number of internet connections in India rose to 830 million in 2021. India’s online shopper base was the third largest globally, at 150 million in FY 2021, behind China and the US.
As per the reports, in 2022 the eCommerce market in India was $74.8 billion. By 2025 the growth is expected to touch $188 billion and to touch $350 billion by 2030.
The Ecommerce Diwali Festive Sales – History of the Decade
The festive season of Diwali has always been a viable one commercially as people indulge in retail shopping. During the festive time, indulgence-based shopping is more sentimental and tradition-centric. Physical retailers used this festive time to attract customers with newer collections being offered at discounts. Stores used to be decorated and lively, and the general atmosphere was of joy and happiness.
Enter the world of eCommerce into the market and it changed the face of festival shopping in India. Retail shopping in India has gained tremendous momentum in the last decade. The Diwali festive season is the happiest for eCommerce retailers as their cash registers ring by the minute. Over the years, customers have built expectations of offers and promotions and the eTailers are more than happy to comply by reserving the best promotions and discounts for that season.
By 2012, eCommerce was well entrenched within the retail shopping fabric of the country. The festival season of that year saw some sites offering free home makeovers, wardrobe offers, and gift deliveries, as well as additional products instead of discounts, to attract consumers. Big players of the time in the eCommerce space, like eBay, began offering gifts like branded headphones, iPod shuffle, mobiles, iPads, and laptops to customers shopping between specific dates just at the onset of the Diwali festival. It also offered gifts like LED televisions for a purchase value ranging between INR 20,000 and INR 30,000.
The year 2014 was, unarguably, the pioneer year for Indian eCommerce as its potential encouraged many offline sellers to have an online presence. Online markets began fine-tuning their marketing strategies and strengthening their operational capacities before the festive season to ensure a smooth shopping experience for their customers between 2014 and 2016. The festive season eCommerce sales figures for the two years of 2015 and 2016 provided ample proof that eCommerce had a firm foothold within the Indian market.
The category Manager of Browntape Technologies had said – “Over the past 3 years, we have seen a 1.5x increase in sales YOY during the festive season period. It is a time when ticket sizes increase and both niche and regular product categories get a boost. In addition to bulk orders from customers, there is also an increase in the demand for gifting products and gift-wrap items. Marketplaces plan some category-focused promos, which translate into equal opportunity for all categories.”
This was proven when eCommerce players registered a 400% increase in new customers and a 10X sales growth for the Diwali festival within a span of 3 years.
By 2015, shopping malls across the country were registering a sharp drop in customer footfall as eCommerce sales were surging. A survey by ASSOCHAM revealed – “In the wake of an unprecedented surge in e-commerce, shopping malls, already under huge pressure due to large vacant spaces, are expected to see a sharp decline in footfalls to the extent of 55.58% during the ongoing festive season this year.” eCommerce giants like Amazon, Flipkart, and Snapdeal recorded sales 3 times higher than in 2014.
By 2016, eCommerce sales began gaining traction with eCommerce recording online festival sales to the tune of INR 40 billion. India became the fastest-growing eCommerce market by seeing steady exponential growth with festive sales figures of INR 60 billion in 2017, INR 150 billion in 2018, INR 190 billion in 2019, and INR 290 billion in 2020.
The year 2021 was still in the throes of an economic struggle under the cloud of the COVID-19 pandemic.The festival season of 2021 was driven by affordability. eCommerce players were carefully building discounts and schemes like BNPL and bank tie-ups to offer the most competitive prices of top brands. However, resilient customer demands saw the festival season end on a high note of INR 1.25 trillion worth of sales, a 23% growth from the previous year.
The festive season in 2023 was expected to boost Indian eCommerce platforms, with projected sales totaling INR 90,000 crore. This represented a significant 18%-20% increase from the previous year, driven by an estimated 140 million online shoppers. These festive season sales were expected to contribute around 17% to the overall annual eCommerce sales for the year.
According to a RedSeer report, during the 2024 festive season, eCommerce is expected to generate over INR 100-120 thousand crore in gross merchandise value (GMV), which is a big increase from last year.
This rise in eCommerce sales is driven by a few key factors:
Pent-up Demand: Especially in categories like mobiles and electronics, where people tend to wait for festive deals. Fashion demand has been slower this year but is expected to pick up.
Premium Products: Brands are offering premium products at discounted prices to encourage shoppers to buy high-end items.
New and Trendy Items: New products and limited-time ranges, especially in fashion, will be launched during the festive season to attract shoppers.
Steady Growth: Ongoing growth in segments like beauty, personal care (BPC), and quick commerce (q-commerce), with a boost during the festive period.
Ecommerce Festive YoY Growth%
Conclusion
There is no doubt that eCommerce is here to stay, especially during the festival season. The convenience of shopping they offer, along with the discounts, offers, and promotions are far more attractive than what physical retail can offer. With that said, the oncoming festival season of 2024 is guided by high optimism, the euphoria of overcoming the global pandemic, and a celebratory mood returning to the general masses.
Ecommerce retail sites have already begun or are on the verge of beginning their second phase of Diwali festival sale offers. The upward trajectory of eCommerce allows for a highly successful season, bypassing the sales figures of last year.
FAQs
What was the Diwali festive sales revenue in 2024?
As per reports, online festive season sales are set to touch $12 billion this year.
What is the growth rate of e-commerce in India?
During the 2024 festive season, eCommerce is expected to generate over INR 100-120 thousand crore in gross merchandise value (GMV), which is a ~20% increase from last year. By 2025 the growth is expected to touch USD 188 billion and to touch USD 350 billion by 2030.
What are eCommerce retail sales?
Ecommerce or electronic commerce is the trading of goods and services online.
What is eCommerce market size in India?
The current value of India’s eCommerce market is $70 billion, making up about 7% of the country’s total retail market.
The growth-stage funding to the start-up ecosystem has slowed down dramatically over the previous two years, leading venture capital company Peak XV to reduce the size of its largest fund by sixteen percent. In May 2022, the company secured $2.85 billion for its ninth fund, and it will give its limited partners (LPs) a return of roughly $465 million.
The firm is cautiously investing in its growth fund while keeping an eye on seed and venture stage opportunities, given the highly valued public market in India. Consequently, it has decided to reduce the size of its 2022 vintage funds by sixteen percent, according to a statement released by Peak XV. While maintaining the same economics for its seed and venture funds, Peak XV Partners has chosen to link a portion of its carried interest to profit distributions in its growth and multi-stage funds. The difficulties in deploying capital during the last 24 months, particularly for growth and late-stage businesses, are reflected in the downsizing.
Why It Opted for This Move?
In light of the difficulties in deploying capital over the last 24 months, particularly for growth and late-stage enterprises, and the growing compliance and governance concerns that Indian startups are facing, the firm has decided to shrink the size of its fund.
A number of businesses in Peak XV’s portfolio, including GoMechanic, BYJU’S, and Mojocare, have faced serious challenges as a result of these problems. Additionally, in order to get better long-term valuations, companies have begun to look to public markets for expansion and late-stage finance.
The Move Has Been Receiving Positive Feedback
Feedback from a large non-profit LP indicates that the decision has been well accepted. There has never been more firm belief in the benefits of investing in India and Southeast Asia. Strong portfolio performance has put the company on track to have its second-best year ever for exits and dividends, according to the VC firm. According to reports, Peak XV would also reduce the management fee it charges to its investors, or LPs, from 2.5 per cent to 2 per cent for the fund.
Concurrently, the venture capitalist is withdrawing from Zomato and Mamaearth and divesting its holdings in start-ups like K12 Techno, Pocket Aces, and PingSafe through mergers and acquisitions (M&As) and secondary deals. Almost 700 companies have received backing from Peak XV Partners, an aggressive start-up investor in India that separated from US-based VC Sequoia Capital in June of last year. The enthusiasm that the Indian public markets are currently experiencing is similar to what the private markets went through in 2021 when the country created a record 45 unicorns—startups valued at one billion dollars or more—in just a single year.
Subham Kumar
