HUL records 19 brands above Rs 1000 cr | Shareholders reject Punit Goenka reappointment | ASCI to report B4U Music's betting ad
Storyboard18 brings you top five news updates from the world of advertising, marketing and business of brands.
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Storyboard18 presents FAST FIVE ⬇
We bring you top five news updates from the world of advertising, marketing and business of brands.
HUL records 19 brands above Rs 1000 cr; Surf Excel to cross Rs 10,000 crore in turnover by FY25
In 2022, Hindustan Unilever's flagship detergent brand, Surf Excel, achieved a remarkable milestone, surpassing $1 billion in sales and becoming the sole non-food brand in India's fast-moving consumer goods (FMCG) sector to attain "unicorn" status. The company’s ambitious projections, outlined during its capital markets day presentation recently, suggest that Surf Excel is on track to surpass Rs 10,000 crore in revenue by FY25. HUL also recorded 19 brands above Rs 1000 crore.
HUL's digital media contribution has tripled in the last four years to 40% of its total ad spends, as consumers use of digital devices and platforms increases.
Ad revenue revolution: Can q-comm challenge e-comm giants for advertising dominance?
In a move that underscores the growing influence of quick commerce, Zepto, the Bengaluru-based startup co-founded by Aadit Palicha and Kaivalya Vohra, has launched an ambitious in-house advertising platform, "Jarvis." In just three years, Zepto has evolved into a $5 billion business, and this latest initiative aims to transform the advertising landscape for brands and sellers on the platform.
While Marvel fans will recognize J.A.R.V.I.S. as Tony Stark's AI assistant that powered his Iron Man suits, Zepto's Jarvis is designed with a different purpose: to enhance visibility and boost sales for its platform's merchants. According to Zepto, the new tool is poised to reshape how brands engage with consumers, offering a direct connection between advertisers and users while fostering long-term brand relationships.
ZEEL AGM: Shareholders reject proposal to reappoint Punit Goenka as director
ZEE Entertainment Enterprises Ltd's (ZEEL) held its 42nd Annual General Meeting on November 28, where shareholders rejected a proposal to reappoint Chief Executive Officer Punit Goenka as a Director. The proposal for reappointment of Goenka as Director at Zee was defeated by a 50.4 percent - 49.5 percent vote, the company said in an exchange filing. "Resolution No. 3 (Goenka's reappointment) failed to get requisite majority of votes as required under the provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015," ZEEL said.
Zomato to use portion of Rs 8,500 cr raised via QIP on advertising and marketing
Food tech major Zomato has raised Rs 8,500 crore through a Qualified Institutional Placement (QIP). The QIP, approved by the Fund Raising Committee of Zomato's board, was closed on November 28, 2024, following submissions of applications and funds by eligible qualified institutional buyers. This fundraising marks Zomato's first since its initial public offering (IPO) in July 2021.
A major portion of the raised capital, amounting to Rs 2,137 crore, will be allocated to the expansion of Zomato’s quick commerce unit, Blinkit, with a focus on developing dark stores and warehouses. The company also intends to use additional funds for advertising and marketing, aiming to strengthen its position in the competitive food delivery and quick commerce sectors.
Storyboard18 Impact: ASCI to report B4U Music's betting ad to MIB
The Advertising Standards Council of India (ASCI) will report the gambling and betting company Melbet’s advertisement aired on B4U Music. Additionally, B4U Television Network India Limited has blacklisted the marketing agency that paid for the advertisement’s telecast.
On September 25, Storyboard18 reported that despite the ban on advertisements for illegal betting and gambling firms, B4U Music aired ads for Melbet, an offshore betting and gambling company allegedly involved in money laundering and operating in India.
Stay tuned to Storyboard18's FAST FIVE from the world of advertising, marketing and business of brands.
