Melt In A Minute | IKEA India Crosses Rs 400-crore Revenue, Nick Waters Resigns & MORE

Ritwika Gupta, December 2, 2019

From government regulating claims made in ads in India to OYO’s new appointments, here are the top stories of the day:

Here is your daily round-up of the news that matters in the marketing, media and advertising world, brewed hot and fresh in just 60 seconds.

Today’s Top Headlines:

Government To Regulate Claims Made In Ads
In association with the Food Safety & Standards Authority of India, the government of India will be setting up a committee to scrutinise and regulate product-feature claims made in ads. As reported by The Economic Times, this is to fix accountability on manufacturers and help consumers choose food items objectively.

Nick Waters, Dentsu Aegis Network, Resigns
Following last week’s news of the departure of both Henry Tajer, CEO, and Reg Davidson, CFO, Dentsu, Nick Waters, executive chairman at Dentsu Aegis Network for UK and Ireland, has resigned. Waters joined the group in 2010 as chief executive of Aegis Media APAC and post the acquisition by Dentsu, he became CEO of the region.

IKEA India Crosses Rs 400-crore Revenue In The First Year
In its seven months of operations in the financial year 2018/19, Ikea has generated a revenue of Rs 407 crore. The retailer however posted a loss of Rs 685 crore in the previous fiscal due to the initial investments it made in the year.  

Oyo’s New Key Appointments  
OYO Hotels & Homes has announced the elevation of Aditya Ghosh to the company’s board of directors. The company has also appointed Rohit Kapoor as the CEO for the India and South Asia business.