TTK Prestige progresses with strategic investment and business collaboration deal with Ultrafresh Modular solutions

 TTK Prestige announces Big Deal in Namma BENGALURU:

27 June 2022

TTK Prestige acquired a strategic stake of over 40 percent in the equity of Ultrafresh • Ties in with TTK Prestige’s overall goal of becoming a total kitchen solutions brand • Entry into the INR 9500 crores modular kitchen space is a natural extension for TTK Prestige • TTK Prestige is now a unique player equipped to offer kitchen appliances and modular kitchens all under one roof • Ultrafresh launches 2700 sq.ft. experience centre under the brand ‘Ultrafresh powered by Prestige’ in Bengaluru Bangalore, 27th June 2022: TTK Prestige, India’s leading kitchen appliances company, today announced the progress on a strategic investment and business collaboration deal with Ultrafresh, an end-to-end modular kitchen solutions provider. TTK Prestige has acquired a strategic stake of over 40 percent in the equity of Ultrafresh to forge a business collaboration between the two companies.The initiative ties-in with TTK Prestige’s overall goal of becoming a total kitchen solutions brand. At a press conference held in Namma Bengaluru, the company revealed that the business is well on its way to achieving double-digit growth, having made in-roads through innovative products in multiple categories such as cookers, cookware, gas stoves and appliances. As a leader in the kitchen appliances space, making an entry into the INR 9500 crores modular kitchen industry is a natural extension for TTK Prestige as a brand. This is a significant move, as it makes TTK Prestige a unique player equipped to offer kitchen appliances and modular kitchens all under one roof. It is estimated that the Indian modular kitchen market will grow at a CAGR of 20 per cent during 2021-2026 and will hit INR 23000 crores in the next 5 Years As part of the business collaboration, Ultrafresh Modular Solutions has opened their first experience centre in Koramangala, Bengaluru. With multiple designs of kitchens on display at the 2700 sq feet store, customers can get a first-hand glimpse and choose from the vast array of modular kitchens to suit their unique requirements. Ultrafresh pioneered steel kitchens in India and screwless cabinets. Currently, the brand has 120 studios and they have manufactured 5000 kitchens across the country. Mr. T T Jagannathan, Chairman of TTK Prestige said: “As a business, we are proud of the solid all-round performance that TTK Prestige has delivered. We are committed to growing our presence in the kitchen space. This means that we are always thinking outside the box and are pleased to go the extra mile to add value to the lives of our customers. Interestingly enough, we have seen strong demand for innovative and premium products. This is aligned with our commitment to innovation as a business and our desire to provide home cooks with products that elevate their cooking experience.’’ Mr. Chandru Kalro, Managing Director, TTK Prestige said: ‘’It is said that when two powerful and driven brands come together, they create a formidable force. That is precisely what we have done with this partnership. This initiative is reflective of our long-term vision of owning the entire kitchen space. For over six decades, our valued customers have come to rely on us as their kitchen appliances brand of choice. Today, we are pleased to go above and beyond by being a one-stop shop for all things related to the kitchen. We are committed to taking Indian kitchens on a journey of transformation, though our total kitchen solutions offerings.’’ Mr. Dhruv Trigunayat, Chief Executive Officer, Ultrafresh Modular Solutions Limited said: “We are very honoured to join hands with an esteemed organization like TTK Prestige. Ultrafresh from the very beginning has come to the market with the ambitious vision of becoming the No. 1 modular kitchen brand in India, and this ambition could not have found a better partner than TTK Prestige. With obvious business synergy at product, channel, and infrastructure level, and mentorship from the team that has sustained market leadership for decades, together as Ultrafresh powered by Prestige, we are best placed in the industry to make the kitchen space our own. We are filled with energy and enthusiasm, and hope that both organizations derive the most value from the partnership.” About TTK Prestige (www.ttkprestige.com) TTK Prestige Limited is part of TTK Group. Over the past six decades TTK Prestige has emerged into India’s largest kitchen Appliances Company catering to the needs of home makers in the country. Every Prestige product is built on the pillars of safety, innovation and trust, making the brand the first choice in millions of homes. In April 2016, TTK Prestige launched ‘Prestige Clean Home’, a range of innovative home cleaning solutions.

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IKEA India welcomes people of Namma BENGALURU with its first large format store opening on 22 June 2022 at Nagasandra

 IKEA India welcomes the people of Namma BENGALURU with its first large format store opening at 10 am on 22 June 2022 at Nagasandra(adjacent to the METRO Rail station)

Bengaluru, Karnataka, 21^st June 2022: IKEA (part of the Ingka Group), the world’s leading Swedish home furnishings retailer will open the doors to its largest store in India so far, in Nagasandra, Bengaluru at 10:00 a.m. on Wednesday, June 22, 2022. The Nagasandra Store is IKEA’s fourth store in India and the e-commerce and app services in June 2021. The store is located next to the Nagasandra metro station, which will support a faster, more sustainable and comfortable commute, making the store accessible for the many people of Bengaluru. The IKEA Nagasandra store will be an iconic landmark in the city, providing home furnishing solutions catering to the diverse needs of the family. With a planned investment of INR 3000 crores in Karnataka, IKEA is expecting to attract close to 5 million visitors this year in Bengaluru.

                                                

         IKEA-- the acronym-- expands as Ingvar Kamprad from Elmtaryd, Agunnaryd.    

HEJ BENGALURU ! [ HEJ in the Swedish language means HELLO ]                                                                    

Spread over 12.2 acres, the 460,000 sq. ft IKEA Nagasandra store will feature more than 7000 well-designed, affordable, good quality, functional, and sustainable home furnishing products along with beautifully designed 65+ room sets for ideas and inspirations to live a better life at home. The store will also house one of the largest children’s play areas, ‘Småland’ along with a 1,000-seater restaurant and a bistro serving a mix of Swedish and Indian delicacies with many vegetarian and vegan food options to choose from.

Susanne Pulverer, Chief Executive Officer & Chief Sustainability Officer at IKEA India said, “Today marks a major milestone as we open our first large format store in Nagasandra, Bengaluru, Karnataka. We have a long-term commitment to Karnataka to create a positive impact on the local economy through our business. With our growing retail presence, IKEA India will be a strong contributor to increase the overall home furnishing market. It will give opportunities for a growing eco-system for the whole industry, including growing people and skills, we continue to stand by our vision ‘to create a better everyday life for the many people. While we are an omnichannel retailer, the IKEA stores are iconic and will remain important places where our customers meet our home furnishing offerings, get inspired, and find relevant products best suited for their home. We are happy to bring our passion and knowledge for home furnishing to the people of Karnataka to contribute to better lives at home.

                                          

IKEA has employed 1000 co-workers with 72% local coworkers and plans to hire more people from the local neighborhood. IKEA truly believes that it will create the best work environment for its many coworkers, offering equal pay and growth opportunities for all. The store also believes in empowering women and has seen women taking up job roles traditionally reserved for men, such as forklift driving, power stacking, assembly, and installation services.

Anje Heim, Market Manager, IKEA Nagasandra said, “IKEA aims to offer home furnishing solutions that match the aspirations and dreams of the many people of Bengaluru for a better everyday life. IKEA Nagasandra will serve as a one-stop destination for all your home furnishing requirements. Our unique and affordable IKEA range will cater to the wants and needs of the whole family because there is something for everyone at IKEA. We are excited to welcome the many people of Bengaluru to our upcoming store.”

Customers will now be able to buy some of IKEA’s iconic products such as BILLY Bookcase, MALM Bed, FRAGRIK Mugs, and GAMMALBYN sofa among others. IKEA is focused on sourcing products locally from India and plans to increase local sourcing in the coming years. IKEA works with 5 suppliers in Karnataka. One of them is an IKEA social entrepreneur, Industree based out of Karnataka who is working with close to 1000 local artisans – making sofas, upholstery, armchairs, furniture, plastic, and metal articles, such as EKTORP sofas and NODELAND bookcase.

Much of the IKEA furniture is made from particleboard with a smooth, white finish. This densely compressed wood provides a lighter weight piece of furniture than solid wood. There are two types of particle boards, one is extruded, and the other is platen pressed.

IKEA, which is known for its clean designs and affordability, is a big hit abroad with people who swear by the “Do It Yourself” [DIY ]mantra.

IKEA continues to develop and strengthen its omnichannel presence in the city with e-commerce, and physical stores. The brand plans to launch its first city-centre store in Bengaluru next year.

ABOUT INGKA GROUP

Ingka Group, the largest IKEA franchisee operates 469 IKEA stores, shops, and planning studios in 63 markets, 47 Ingka Centres meeting places. With over 5 billion visits online and 775 million IKEA store visits, IKEA is truly reaching out to many more people in an omnichannel way. The Ingka revenue for FY21 is close to 42 billion euros. We are taking bold steps across our business to help achieve the IKEA commitment to become a climate positive and circular business by 2030. EUR 6.5 billion has been committed as investments in renewable energy.

About IKEA India 

IKEA is growing in India. India is a prioritized market for the Ingka group for future growth. Our ambition is to reach many more people in India through a strong omnichannel presence. We are today online in Mumbai, Pune, Hyderabad and Bengaluru. Two big format IKEA stores are operational in Hyderabad and Navi Mumbai. A city center store opened in Mumbai in Dec 2021 and another one will open in 2022. Along with Retail, IKEA Purchasing, IKEA Foundation, IKEA Investment, Ingka Centres, Global Business Operations (GBO) and other entities are investing in India to create an even bigger impact as ONE IKEA. IKEA remains invested and committed to India. IKEA has been sourcing from India for close to 40 years, working with around 65 suppliers, 48,000 direct employees and 500,000 people in the supply chain in India producing for IKEA stores worldwide

For more info / details,please visit/peruse:

https://www.ikea,com

https://www.ingka.com

IKEA Bangalore- Furniture and Home Furnishing Store

https://www.ingka.com

 

Athulya Assisted Living Announces significant expansion entry into Namma BENGALURU

Athulya Assisted Living Announces significant expansion and entry into Namma BENGALURU

~With this expansion Athulya becomes India’s largest assisted living with a total of 500 beds 

Bengaluru, 14^th June 2022: Athulya Assisted Living, India’s largest assisted living service provider and home healthcare service provider today announced its entry into Bengaluru by opening a 250 bedded premium assisted facility, the first one being located in Hosa Road near Sarjapur and the second facility in Whitefield.  

Athulya is the first-of-its-kind premium, tech-enabled facility that is known for its dual approach in providing premium assisted living services and home healthcare for senior citizens. Athulyas’ first Bengaluru facility will fully become operational in a month’s time. 

Speaking about this phase of expansion of Athulya’s service in Bengaluru, Mr. G. Srinivasan, CEO and Founder of Athulya Assisted Living said, “Bengaluru is an ideal location for senior living, and we are excited to enter the city with our exclusive offering. The population of independent senior citizens in the city is to the tune of 12 Lakhs and expected to increase to 20 lakhs by 2050”.    

He further added, “Senior citizens in Bengaluru can now enjoy the premium care combined with round the clock medical support and clinical attention. At Athulya we guarantee a safe living space for the elders”. 

                                          

 Mr. G. Srinivasan, CEO and Founder of Athulya Assisted Living, R Karthik Narayan, Managing Director & Founder Athulya Assisted Living, Kavya Krishna, chief marketing officer, Athulya Assisted Living addressing the media to announce their entry into Bengaluru.

Dr R Karthik Narayan, Managing Director & Founder Athulya Assisted Living, said, “Given the growing elderly population, we need a new model for senior care. Athulya has constantly endeavoured to provide the most ambient environment for senior citizens to live and enjoy a comfortable, safe and secure life. Athulya’s entry into Bengaluru is a step towards creating a robust elder care ecosystem in the country for about 500,000 senior citizens.” 

Karthik started off as a trained physician and is a hospital management expert with more than 10 years of administrative and clinical experience. He served as the regional lead and fellow in performance improvement for leading health systems in the US, such as Dignity Health, Prime Healthcare Services, and Kaiser Permanente.

He also acts as a principal healthcare advisor for Sri City, which is one of the largest integrated business cities in India. Karthik is also the advisor to the Chairman of SRM Institute of Medical Sciences (SIMS).

Karthik bootstrapped the startup by pumping Rs 2 crore into Athulya. He does not wish to disclose his revenue but says he is scaling up. 

The cost per person/day could be in the region of Rs 2000 and yearly expenses could go up from US $ 20,000 to $100,000 to care/assist the senior citizen,depending on special needs/attention..

The key focus of Athulya, right from its inception is a dedicated senior citizen care that includes assisted living, palliative care, critical home care and transition care services all under one single roof. According to a recent research Bengaluru is being one of the prominent cities for senior living in India. In addition, India’s elderly population is expected to reach 319 million by 2050. 

 

About Athulya:  

Athulya Senior care, headquartered in Chennai, is India’s largest Assisted Living with 500 beds and leading home-healthcare service provider that offers services such as assisted living in senior living communities, senior living rental model, geriatric home healthcare services, and many more.  Since its inception their homecare services have served more than 15,000 senior citizens offering a range of home care services for seniors that include nursing care, doctor visits, physiotherapy, rehabilitation, blood sample collection, ICU setup at home, and bringing the entire gamut of healthcare services to the doorsteps. 

For more info /details,please visit

https://athulyahomecare.com

https://athulyaliving.com

 

IGIC [ International Global Initiative Connect ] Conference held on 2-3 June 2022 in Namma BENGALURU

3 June 2022,BANGALORE

Namma BENGALURU / Karnataka leads the way for Start-Ups,Entrepreneurs..

 In a bid to promote India’s start-up ecosystem, Smadja & Smadja, a strategic advisory firm founded by the former Managing Director of the World Economic Forum, organised the inaugural edition of the India Global Innovation Connect (IGIC) in a strategic partnership with Karnataka Digital Economy Mission (KDEM) and the support of founding sponsors Catamaran Ventures and Tata Digital, in Namma Bengaluru at Hotel Conrad on June 2 and 3, 2022.

The event was inaugurated by the Hon’ble Chief Minister of Karnataka Shri. Basavaraj Bommai on 2nd June 2022 along with Shri B V Naidu, Chairman, Karnataka Digital Economy Mission, Claude Smadja, President, Smadja & Smadja, and more such industry stalwarts. The event also witnessed investors, private equity firms, and entrepreneurs from Singapore, Israel, Switzerland, the US, Japan, Korea, and Germany.

More than 80 speakers from India, Singapore, Israel, Switzerland, the US, Japan, Korea, and Germany actively participated in the conference

Over 350+ participants from leading companies, startups, and institutions attended the event.

N.R. Narayana Murthy[ NRN ] Founder,Infosys;stated that this is the best time to be an entrepreneur in India.He said @VC funding is easily available;fabulous opportunities are present for youngsters to start their own ventures..– in India’s First-Ever Global Conference on Startups – ‘India Global Innovation Connect’ @ Bengaluru

NRN regaled the audience with his witticisms and spoke with elan about how he and his team struggled in the early days from 1980 onwards [ IPO was issued /undersubscribed in 1991] to build the  Company INFOSYS,which is now an acknowledged leader in the IT/BPO/KPO fields worldwide

                 

Hon’ble Chief Minister of Karnataka Shri. Basavaraj Bommai highlighted that Karnataka is the State as the leader in action for startups, and Bengaluru is home to 400 of the Fortune-500 companies [who have offices,R&D Centres.. ] He also outlined that the state was the first to introduce a startup policy and the only competition for Karnataka is Silicon Valley [San Jose,California ]in the USA.

Speaking on the association, Shri B V Naidu, Chairman, Karnataka Digital Economy Mission, said, “Since its inception, KDEM has worked relentlessly to establish Karnataka as a global hub for innovation and technology. We focus to build a bridge between policymakers and the industry to create a robust platform for start-ups that can contribute to the nation’s development and digital economy. The India Global Innovation Connect (IGIC) is the next step in our vision to expand our horizons for a resilient entrepreneurship and innovation movement in Karnataka”.

Some of the key notable attendees and speakers included Dr. E V Ramana Reddy, Additional Chief Secretary, Department of Electronics, IT & BT, Science & Technology, Government of Karnataka, N.R. Narayana Murthy, Founder Infosys Limited, Founder & Chairman, Catamaran Venture, India; Mr. Ranganath M D, President, Catamaran Ventures, Prashanth Prakash, Accel Partners, India, and Hari Menon, Co-founder & Chief Executive Officer, Big Basket, India, and Mr. Harshil Mathur, CEO & Co-founder, Razorpay.

 Some of the other notable speakers included Dr. Ashwath Narayan, Information & Technology Minister of Karnataka; Mr. N.R. Narayana Murthy, Founder of Infosys Limited; Paul Saffo, top technology forecaster, Professor at Stanford University; Mr. Desh Deshpande, Co-Founder Sycamore Networks, Founder of the Deshpande Center for Technological Innovation, MIT, and Founder Deshpande Foundation, USA; Mr. Irad E. Ben-Gal, Head, Laboratory of AI Machine Learning Business & Data Analytics (LAMBDA), Israel; Mr. Sauvik Banerjee, Founding CTO of Tata Digital and Tata Neu; Ms. Karin Mayer Rubinstein, CEO & President Israel Advanced Technologies Industries. Top unicorn founders such as Ms. Deena Jacob, Co-Founder, CFO  & Head of Revenue and Growth, Open; and Mr. Nithin Kamath, Founder & CEO, Zerodha;along with other founders/entrepreneurs also shared their views/experiences during the engrossing/scintillating Panel Discussions.

About Karnataka Digital Economy Mission (KDEM)

Karnataka Digital Economy Mission (KDEM) is designed to function as the knowledge bridge between the Government of Karnataka and industry to accelerate the growth and investments of the IT, BT, and S&T sectors in Karnataka. With Industries in the driving seat, KDEM is working to harness the unlimited potential of the digital economy of Karnataka by expanding the growth to emerging clusters Beyond Bengaluru and thereby transforming the lives of the people in the state. The IT ecosystem not only uplifts the lives of professionals in the industry but, also powers millions of other ancillary jobs across other industries thus contributing to the overall economy of the Country.

About Smadja & Smadja

Smadja & Smadja Strategic Advisory (S&S) was established in 2001 in Switzerland and the US. It works with international companies, individual investors, and government entities on global trends and strategic issues. The Firm's mission is to help its clients navigate and leverage globalization and the technology and entrepreneurial revolution, providing them with actionable insights and a "world view" to help identify new opportunities and risks, and manage the increasing volatility and complexity of a globalized world. The firm creates platforms of content – from strategic, closed doors, seminars to high-profile international conferences. Smadja & Smadja has activities, clients, and partners in Asia, North America, Europe, Latin America, and the Middle East.

For more info / details,please visit / peruse :

http://www.smadja.ch

https://bangalore.tie.org

https://www.infosys.com

https://karnatakadigital.in

https://yourstory.com