Tata Industries To Hive Off Few Of Its Startup Businesses
Tata Industries is an investment holding company and has backed and promoted new business ventures. Last year, Tata Consumer Products acquired Tata SmartFoodz from Tata Industries Limited while Tata Advanced Materials was merged into Tata Aerospace
Tata Industries will hive off some of its significant startup businesses, such as Tata Cliq, Tata Cliq Luxury, Tata CLIQ Palette, and Tata Health to Tata Digital in the next two weeks as part of a move to consolidate the scalable e-commerce entities under one roof.
The development comes amid a larger group consolidation strategy led by its principal investment holding company, Tata Sons, which has been integrating similar businesses under various Tata group companies to cut costs and focus on building scale as well as competitive edge.
Tata Industries is an investment holding company and has backed and promoted new business ventures. It has Tata Cliq, Tata Health, Inzpera Life Sciences, Flisom Solar Modules, Tata Strategic Management Group, Tata IQ, Tata Class Edge and Studi under its subsidaries.
In November, last year, Tata Consumer Products acquired Tata SmartFoodz from Tata Industries Limited while Tata Advanced Materials was merged into Tata Aerospace.
Tata Industries has backed ventures in several sectors, including control systems, information technology, financial services, auto components, aerospace and defence, telecom hardware and telecommunication services as well.
Currently, Tata Cliq is been operated by Tata UniStore, which is jointly owned by Tata Industries and the group’s lifestyle retail venture, Trent. Tata Cliq has left the consumer electronics category, which formed 50 to 55 percent of its business, and its consumer electronics, smartphones and appliances division has been integrated with Croma, Tatas’ flagship consumer electronics retail chain.
Tata Sons has been integrating and incubating several brands on Tata Neu, its digital app launched officially in April. The app offers consumers access to brands such as BigBasket, 1mg, Tata CLiQ, Croma and Indian Hotels Company.