expansion | Pixr8 News

19Jun By Gauri SinghNo Comments

News

Lifestyle Pvt Ltd Pours In Crores To Open New Stores

The Indian retail fashion brand Lifestyle is reportedly investing about Rs 140 crore for the purpose of expansion during the current financial year. The company will open new stores, the investment of which is estimated to be Rs 8 crore to Rs 10 crore per store. “We are planning to open 12 to 14 stores during the current fiscal,” said Srinivasa Rao, senior vice-president of Lifestyle Pvt. Ltd. “The investment per store will be about Rs. 8 crores to Rs. 10 crores,” he added. Founded in 1999, the company, at present, has around 70 stores all over the country. The retail firm offers a variety of national and international brands It now plans to open more stores and the funds for the same would be met from internal accruals. According to the senior vice-president, the company would be ope...

OYO is Expanding Operations in China and Indonesia

23May By Sheldan RungasamyNo Comments

BUSINESS

OYO is Expanding Operations in China and Indonesia

OYO, the leading hotel aggregator, has taken a huge step towards expansion, after opening hotels in China and Indonesia making it one of the few Indian consumer technology companies expanding businesses in the world’s second largest economy. The developments come only eight months after the Gurugram-headquartered company raised $10 million funds from China Lodging Group, one of the largest multi-brand hotel groups in the world. Seemingly, the deal provided much more than capital value as it provided a strategic partnership to OYO for its international expansion plans. Commenting on the investment, Founder and CEO of OYO, Ritesh Agarwal said, Addressing consumers in India and Chine – two of the world’s fastest-growing markets – through our combined strengths opens up a very large and...

Ola To Expand Operations in 3 New Australian Cities

22May By Sheldan RungasamyNo Comments

News

Ola To Expand Operations in 3 New Australian Cities

Ola, the homegrown cab-hailing service is now expanding its operations in Australia to include the cities of Brisbane, Gold Coast and Canberra. “Customers in these cities can book discounted rides using Ola app starting Tuesday,” said the Bengaluru-based online cab aggregator in a statement. Ola was founded in 2011 by Bhavish Aggarwal and has been since competing against US cab-hailing firm Uber for market share. The cab-aggregator claims to own over 125 million users in 110 cities across India. Ola began operations in Australia in January 2018 with the cities of Perth, Sydney and Melbourne being the first to benefit from the Indian service. Up to now, 30,000 driver-partners are working under the ride-sharing service’s name, the statement added. “As we continue to expand across A...

21Apr By PriyankaNo Comments

FUNDING

Ola Looking To Raise $100 Million in Fresh Funding to Fuel Expansion

Cab aggregator Ola's board has approved raising up to USD 100 million from existing shareholders, primarily to fund its expansion plans. The company, which is locked in an intense battle with American rival Uber, had recently raised funds to the tune of Rs 1,675 crore from its Japanese investor, SoftBank. The approval was for issuance of convertible securities at a price of Rs 13,521 apiece through a rights issue. ANI Technologies, which operates Ola today said, "its board has approved raising up to USD 100 million (about Rs 670 crore) by issue of 495,526 Series 'l1' preference shares of face value INR 10 each at a price per subscription share equivalent to INR 13,521". As per the filing made to the Corporate Affairs Ministry under the Companies Act, the rights issue was scheduled ...