iDTC Launches Advance Retail Technology for Middle East

Key Takeaways from iDTC’s Launch:

• iDTC Launches eMACH.ai Retail 6DX as a start to address the current challenges afflicting retail businesses in the Middle East.
• The corporation has a flexible architecture which will enable it to integrate easily and, hence, enhance its ability to adapt to any retail format.
• AI enables the platform to assist the retailers in finding out what customers want, optimising the inventory, and offering them deals that activate real-time detection of trends and resultant better decision making.
• Some of the noticeable features involved are streamlining checkout procedures, promoting targeted marketing by offering flexible ways of payment, offers from the Customer Data Platform, tailored offers, and customisable loyalty programs.

To streamline operations and enhance customer loyalty, eMACH.ai Retail 6DX provides retailers with the foundational building blocks to interact with their shoppers in a manner that cements long-term relationships.

The eMACH.ai Retail 6DX platform features a flexible architecture that allows easy integration with other applications.It encompasses 23 events, 13 microservices, and 55 APIs, all running on the cloud, thereby providing high performance and better return against retailers.

The AI platform enables retailers to determine the needs of customers, optimise their stock, and ensure appropriate promotion. This allows businesses to comprehend patterns in real-time streams, automate and optimise supply chain operations, and take decisions that are more customer-centric.

Key features of eMACH.ai Retail 6DX include:

1. Quick Check-out: Effective check-out procedures truly expedite the service such that more customers can be targeted.

2. Marketing Promotions: Focused marketing can provide suitable offers at the right moments.

3. Flexible Payment Method: Integrating cards with digital wallets streamlines the process for buyers

4. Customer Data Platform (CDP): Those tools integrate customer insight tools to provide for a personalised experience for shoppers.

5. Personalised Deals: The portal allows customised coupons and vouchers to make passive purchasers consistent customers.

6. Loyalty Scheme: Retailers can have personalised loyalty scheme, which can attract the customer and help in establishing loyalty for the brand.

About Intellect Design Arena Limited:

Intellect Design Arena Limited is one of the leading companies providing a wide spectrum of Financial Technology solutions for large as well as mid-sized financial institutions across 57 countries.eMACH.ai is the leading platform that has been designed to be powerful and flexible to provide a wide range of open finance solution capabilities. These consist of 329 microservices, 535 events, and more than 1,757 APIs. This platform helps the financial institutions build and execute advanced technology solutions matching market requirements for remaining relevant.

Having been in the business for 30 years, Intellect brings banking and insurance technology solutions through four major areas: Global Consumer Banking, Global Transaction Banking, IntellectAI, and Digital Technology for Commerce. Intellect is one of the leaders in the use of Design Thinking as a means of driving innovation, helped by their unique 8012 FinTech Design Centre. Intellect serves more than 325 customers worldwide by leveraging a focused team of solution architects and technology experts working out of key financial centres.

Key takeaways from the Join Venture Agreement of Linc and SILKA

• Linc Limited and Silka Kirtasiye have established a joint venture to manufacture and market writing instruments in Turkiye and nearby countries.
• Both Linc and Silka will hold equal or 50% shareholdings in the joint venture, and the parties will provide a signed initial capital of USD 1 million.
• Linc will have the authority to designate the Chairman of the Board, and SILKA will have the authority to appoint the Managing Director. Any major business decisions will require consent and approval from both parties.

As per a stock exchange filing, the initial capital for the joint venture is set at USD 1 million, with both Linc Limited and SILKA holding equal shares, each with a 50% stake. Both companies will also have the right to appoint two directors each to the joint venture company. The Chairman of the Board will be chosen by Linc, and the Managing Director will be appointed by SILKA, with mutual consent required for other major business decisions pertaining to the joint venture. Lastly, Linc Limited will be permitted to appoint financial auditors to the joint venture company. 

The agreement clarifies that neither Linc Limited nor SILKA are related to the promoters or promoter groups of each other, and the transaction does not fall under related party transactions. The equity shares of the joint venture will be issued at par value to both companies. Moreover, there are no potential conflicts of interest arising from this partnership. 

This joint venture is expected to strengthen the market presence of both Linc and SILKA by leveraging local manufacturing capabilities and expanding distribution networks in the region.

About Linc Limited:

Incorporated in 1976, LINC Ltd is the largest and oldest manufacturer of writing instruments in India. The company produces a diverse range of writing products, including ball pens, gel pens, roller pens, retractable ball pens, dark pencils, and various stationery items. With decades of experience in the industry, LINC Ltd. is committed to delivering high-quality writing solutions to meet the needs of consumers.

Key Takeaways from the Joint Venture of Linc and Mitsubishi 

• The joint venture formed between Linc Limited and Mitsubishi Pencil Company, Japan, seeks to leverage the advanced technology in Japan to improve product quality and innovation in writing instruments. 
• The venture will operate with Mitsubishi holding a 51% stake and Linc a 49% stake, with both looking to expand their international reach. 
• The joint venture plans to produce high-quality, affordable writing instruments locally in India, utilising state-of-the-art technology and exploring local sourcing of raw materials to reduce costs.

According to a stock exchange filing, Mitsubishi Pencil Company will be contributing advanced Japanese technology through the joint venture, leading to better product quality and innovation. 

Linc Limited has distributed Mitsubishi's ‘Uni’; and 'Uniball' pens for over 30 years and will leverage its experience in sales and distribution to solidify Linc’s strong market presence throughout India. Moreover, the joint venture will allow Linc Limited to become an export base to international customers already serviced by Mitsubishi and Linc. Mitsubishi Pencil Company will hold a 51% interest and Linc Limited a 49% stake in this joint venture. Linc Limited recorded an overall revenue of over Rs. 500 crores in FY 2024. 

The joint venture, utilising and leveraging Mitsubishi's cutting-edge technology, will produce writing instruments with excellent quality, smoothness, and style. The products will be manufactured locally so that they remain cost-effective within the Indian market. The joint venture will explore sourcing some raw materials locally. thus bringing down costs of production while meeting world-class standards. 

This joint venture aims to introduce advanced Japanese technology to the Indian market, enhancing the production of high-quality yet affordable writing instruments tailored specifically for Indian consumers. 

Commenting on the joint venture, Mr. Deepak Jalan, Managing Director of Linc Limited, said- “We are excited to strengthen our long-term partnership with Mitsubishi Pencil Company, with whom we have shared over 30 years of exclusive collaboration. This joint venture allows us to offer advanced Japanese technology at more affordable price points, creating a unique synergy between innovation and market expertise. We are confident that this partnership will set a new benchmark in the Indian writing instruments industry and open up new avenues in global markets as well.” 

About LINC Limited:

Incorporated in 1976, LINC Ltd is the largest and oldest manufacturer of writing instruments in India. The company specialises in producing a diverse range of writing products, including ball pens, gel pens, roller pens, retractable ball pens, dark pencils, and various stationery items. With decades of experience in the industry, LINC Ltd. is committed to delivering high-quality writing solutions to meet the needs of consumers.

About Mitsibushi Pencil Company Limited

Mitsibushi Pencil Company Limited traces its roots back to 1887, when it was established as Masaki Pencil Manufacturing Company in the Naito area of Tokyo's Shinjuku Ward by Niroku Masaki. Inspired by his first encounter with a pencil at the 1878 Paris World Fair, Mr. Masaki dedicated himself to extensive research and eventually created Japan's first pencil.

In 1901, after overcoming numerous challenges, he successfully convinced the Ministry of Communications to purchase pencils he designed specifically for government use. To commemorate this achievement, Mr. Masaki registered a trademark that featured the Mitsubishi "three diamond" mark, which was inspired by the "three fish scales" of his family crest. This mark was registered in 1903, a decade before the Mitsubishi industrial conglomerate's trademark.

Today, the Mitsubishi mark remains a symbol of the tradition and pride established by the company’s founder, continuing to represent quality and innovation in writing instruments.

Key Takeaways from Emami Group’s Acquisition:

• On September 25, Emami Group announced the acquisition of Emami Neo-Herbals International.
• The target entity is a newly incorporated wholly-owned subsidiary of Emami Group in Bangladesh, which has an authorised capital of 1 crore BDT consisting of 10,00,000 ordinary shares with a face value of 10 BDT each.
• At present the paid-up capital amounts to 25 lakh BDT comprising 2,50,000 ordinary shares issued by it.
• The subsidiary will mainly engage in the sourcing of, importing, exporting, and trading of Ayurvedic and herbal products, both in raw form and finished.
• Emami International FZE will buy 2,49,990 shares with 99.996% equity holding, and Emami International Personal Care LLC will buy 10 shares for a 0.004% shareholding.

The objective of the new subsidiary is to conduct a business that would mainly involve operations related to the buying, importing, exporting and trading of all forms of Ayurvedic and herbal products whether raw or finished products.

Emami International FZE will acquire 2,49,990 ordinary shares which represents 99.996% shareholding whereas Emami International Personal Care LLC shall acquire 10 shares representing 0.004%.

About Emami Group: 

Emami Group began in the middle of the 1970s in West Bengal by two childhood friends, RS Agarwal and RS Goenka left their prosperous jobs as Chartered Accountants with Birla Group to start with Kemco Chemicals, a small Ayurvedic medicine and cosmetic manufacturing unit in Kolkata in 1974 with just Rs 20,000 in capital. This was bold, considering the time when multinational companies dominated the Indian FMCG market. The Indian middle class was growing fast with its potential for consumption, thus creating an attractive market for personal care products. In keeping with Ayurveda's importance, the couple began to manufacture herbal cosmetic products and medicines under the Emami brand name from a small office in Kolkata's BurraBazar that it still uses today.