Akshaypat Singhania to invest Rs 100cr in start-up ventures

JK International chairman and managing director Akshaypat Singhania on Tuesday said he has created a fund of Rs 100 crore that will invest in lifestyle, healthcare, food and beverage companies and other startups.

He is scouting for start-ups in India that have built brands but are now struggling to raise funds for re-engineering.

"I am looking for companies with strong commitment, which have sustained profitable growth, should have better understanding of business model, understanding of future trends," Singhania said.

"I do not intend to only invest and wait for investments to appreciate, but also use my own experience to help the business grow larger to build a professional team, implement better processes, strengthen use of technology and to infuse transparency in the system so that the business can strive ceaselessly for growth and efficiency. The model should rest on a deep understanding of the business and deliver positive social impact," he added. ********** Cargill appoints Piyush Patnaik as MD for oils biz in India *

FMCG firm Cargill on Tuesday said it has elevated Piyush Patnaik as the Managing Director of its oil business in the country.

 

Patnaik, who will be taking over from Deoki Muchhal, was the strategy and business development head for Cargill's oils business in India.

The edible oil brands of Cargill include NatureFresh Oil, Gemini Cooking Oil, Leonardo Olive Oil, Sweekar, Rath and Sunflower Vanaspati. *********** ASICS launches e-comm site to access tier II, tier III markets *

Japan-based sportswear firm ASICS on Tuesday said it has launched its e-commerce platform for India, to make the brand more accessible to consumers in the tier II and III markets.

"India as a market has seen rapid growth in the online shopping space over the past few years, and industry trends indicate that this will lead sector growth over the coming years as well," ASICS India Managing Director Rajat Khurana said.

"E-commerce has been growing exponentially in India and has quickly grown to become the most preferred choice of shopping for most consumers. With the launch of the website, we are looking to rapidly expand our consumer base and delight users across new and upcoming markets," he added.