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Women eyeing products like motorcycles, cigars, cufflinks made ostensibly for men

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NEW DELHI: There’s something men have known for sometime. If there’s anything in their wardrobe that a woman can wear, she will. And now brands in India are discovering that this female fetish for male style has come out of the closet, as it were. Women are increasingly eyeing products made ostensibly for men – motorcyclescigarscufflinks, even those strong fragrances you thought were so manly. An international menswear brand was wondering why its 28-30-inch trousers and shorts for men in bright colours were disappearing so fast from the shelves, given that the shape and size of the average Indian male isn’t that, well, streamlined. That’s when the realization dawned that they were in fact being bought by women. To be sure, this is something that’s been prevalent for a few years now overseas. 

For instance, Italian label Corneliani sells a number of men’s cashmere overcoats, scarves and mufflers to women. There are various reasons why women buy men’s stuff. Some buy it for the bulk, while for many others wearing a watch with a big dial, riding a Harley-Davidson or wearing the musk is all about the adrenaline rush and making a power statement. The trend is just being noticed in India and there are no statistics available to suggest how much women buyers are contributing to sales in the overall men’s category across product segments. 

Vijaya Rathore, ET Bureau 

Indian Business News

COCA-COLA BOTTLERS TO INVEST RS510 CR IN HARYANA

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Coca-Cola bottling firms Kandhari Beverages and Enrich Agro Food Products on Tuesday said they will invest Rs510 crore in Haryana to add new manufacturing lines. The authorised franchise bottlers of Coca-Cola India, inked a pact with the State Government to expand their manufacturing infrastructure.

“A fresh, combined infusion of Rs510 crore will create an additional direct employment for 325 people,” both the companies said in a joint statement. As a part of the pact, Kandhari Beverages will invest Rs300 crore to set up multiple high speed manufacturing lines for juice, energy and sparkling drinks at Saha in Ambala and will be completed by 2018.

Enrich Agro Food Products will invest Rs165 crore to set up a new manufacturing line for beverages in Rohtak by 2018 and also invest Rs45 crore in a packaging unit for Coca-Cola.

Kandhari Beverages Pvt Ltd Executive Director Bikram Kandhari said: “This investment which will be utilised to enhance infrastructure in our bottling facilities and setting-up new manufacturing lines.”

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Indian Business News

Uber to Invest Rs. 120 Crores in India

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Taxi-hailing app Uber on Tuesday signed a pact with the Haryana Government, wherein it will invest Rs120 crore in technology based ride-sharing services. The memorandum of understanding (MoU) was signed at the Happening Haryana Global Investors Summit 2016.

Under the agreement, Uber will invest in technology based ride-sharing services, which includes peer-to-peer transportation using private vehicles where the driver is reasonably compensated for expenses, tolls and other related costs.

Uber said this new form of reliable and convenient urban mobility will help create a real alternative to car ownership. Uber will also collaborate with the Government in creating smarter cities in Haryana.

“Haryana has been a leader in promoting information technology and we are excited to launch private vehicle ride-sharing to promote urban mobility, prevent pollution and reduce the time spent in traffic in our cities,” Vijayendra Kumar, Secretary IT, Haryana said in a statement.

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Indian Business News

FM Arun Jaitley rolls back Budget proposal to tax EPF withdrawal – Big win for salaried class!

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FM Arun Jaitley rolls back Budget proposal to tax EPF withdrawal - Big win for salaried class!

New Delhi: In what will bring cheers to millions of salaried class individuals in the country, Finance Minister Arun Jaitley on Tuesday rolled back the controversial budget proposal to tax EPF withdrawals.

Taking the first opportunity available, he made a suo motu statement in the Lok Sabha in which he also announced withdrawal of imposing monetary limit for contribution of employers to provident and superannuation fund of Rs 1.5 lakh for taking tax benefit.

He however stated that 40 percent exemption given to National Pension Scheme (NPS) subscriber at the time of withdrawal remains.

“In view of representations received, the government would like to do a comprehensive review of this proposal and therefore I withdraw the proposal,” Jaitley added.

Clarifying government’s stand on EPF in Lok Sabha, Jaitley said, “The main argument is that employees should have choice of where to invest. Our intention was to encourage more and more employees join the national pension scheme”.

Jaitley in his Budget for 2016-17 had proposed that 60 percent of the withdrawal on contribution to employee PF made after April 1 this year will be subject to tax. This would apply to superannuation funds and recognised provident funds including EPF.

This was criticised by all employees unions as well as political parties.

The proposal would not have impacted 3.26 crore EPFO subscribers drawing statutory wage of upto Rs 15,000 per month. Employees Provident Fund Organisation (EPFO) has a total subscriber base of 3.7 crore.

(With Agency Inputs)

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