ITV

Tag: Giant

  • ‘Giant’ bicycles launched its flagship showroom in Mumbai in collaboration with Element Retail

    ‘Giant’ bicycles launched its flagship showroom in Mumbai in collaboration with Element Retail

    MUMBAI: World’s largest producer of high quality and performance bicycles – ‘Giant’, enters Indian retail cycle market with its first flagship store in Mumbai in association with Element Retail Pvt Ltd. Founded by two young and vibrant entrepreneurs Aditya Bafna and Varun Bagadiya in 2013, Element Retail has been steadily growing their portfolio and has become category leaders in swimwear and sports shoe segment. Element Retail has a license to distribute Giant bicycles Pan India. Catering to a large community of cyclists, fitness enthusiasts and athletes, Giant will bring together high-quality craftsmanship, technology and innovative designs under one roof.

    Sharing his thoughts on the new showroom launch, Aditya Bafna, Managing Director, Element Retail Pvt Ltd quoted, “The athleisure and fitness sector in India has gained tremendous popularity in recent years as more and more people have become fitness enthusiasts giving a huge scope for Giant to grow in India. According to "India Bicycle Market Outlook, 2021", bicycle market size crossed INR 5000 crore mark in 2015. There is a huge demand and great potential for international bikes that are a perfect blend of innovation and technology.”

    Aditya Bafna further added, “Based on the growth figures, we foresee new opportunities and continuous growth in the Indian retail cycle market. Giant Bicycles offers a wide range of on-road, X-road, off-road and youth cycles, along with LIV, an in-house woman oriented brand. Serving as an “all-under-one-roof” outlet, the brand also offers protective gears, bike gears, service gears, and components to address every biking need. An increase in demand for quality bicycles also caters to the ‘Go Green’ initiative in the country and could assist in curbing down pollution issues.”

  • Spotify valued at $4 billion

    Spotify valued at $4 billion

    MUMBAI: Spotify, the music streaming giant, could well be the latest startup to join the $4 billion valuation club.

    The company has reportedly secured $250 million in new financing, valuing it at more than $4 billion, according to The Wall Street Journal. Spotify previously raised $100 million almost exactly a year ago at a $3 billion valuation.

    An earlier report had suggested that Spotify was looking to raise a new round of funding at a more than $5 billion valuation, but clearly that was too bullish.

    While Spotify’s popularity and revenue has grown in recent years, it continues to lose money. Spotify reportedly doubled its revenues year-over-year in 2012 to nearly $600 million, but its net loss increased to $77 million. The extra funds may provide Spotify with more space to continue its rapid expansion even as it continues to bleed money.

    The $4 billion valuation mark seems to be the benchmark for tech startups right now. Pinterest was recently valued at just shy of $4 billion, Snapchat has reportedly turned down acquisition offers of up to $4 billion and Uber is closing in on that milestone as well.