Brief: He is buying Gionee India for INR 250 crores
Vohra got Gionee to India.
He stepped down as its CEO last year.
He turned his friendship with Gionee’s President into a multi crore business in India.
He already owns 26% of Gionee India. Now he will own the rest with another partner.
How big is Jionee India?
Gionee owns 2–3% of the market
INR 4000 crore worth of revenue for FY17
42000 stores
600 exclusive service centers
1.25 crore customers
Insight into the deal:
Parent company in China faced financial woes in China.
It’s leaving India.
Arvind has partnered with Carbonn to buy the stake.
Know more about Arvind: