Pawan Ruia has a penchant for loss-making organisations, it seems. After having turned around the loss-making Jessop, the tycoon has now added another feather to his cap beating biggies like Hero Group, Metro Tyres and Apollo Tyres to gain control of Chhabria’s ailing Dunlop and Falcon Tyres. He paid Rs 200 crore for the acquisitions and is planning to spend another Rs 200 crore to get them back on track. Jumbo’s decision to sell off its business interests in India to concentrate on its core business of electronics could not have come at a better time for the tycoon. Though Ruia has come out a winner as far as Jessop is concerned, turning around Dunlop will not be easy. He intends to keep a workforce of 1,000 at Dunlop’s Bengal unit and pay off the rest. The process is not expected to be entirely hassle-free, given the previous record of labour-management strife at Dunlop. Falcon, on the other hand, is a running tyre company with sales of Rs 240 crore. The tycoon plans to invest more to double its production and sales. The emerging tyre tycoon is currently exploring his options including a rights issue to raise Rs 460 crore to fund his revival plans. Ruia surely has some way to go before he can relax given the financial state of the acquisitions. Market watchers will be observing if Ruia can repeat his success story this time too.No kid’s play After bringing Lee Cooper to Indian youth, Harpal Singh of Indus Clothing is now aiming at kids. He looks set to entice kids with garments splashed with Disney characters. The youthful tycoon has secured the rights to manufacture and market the new range of apparel by The Walt Disney Co called Disney Jeans. First on the cards is a greenfield facility in Uttaranchal that he hopes to make operational by early next year. Singh however doesn’t want to limit his new foray to manufacturing and marketing alone. He also has a retail plan lined up under which he wants to set up 50 Disney Stores by 2008. He is looking for a partner for his retail foray and doesn’t appear averse to expansion through franchising. dilipcherian@gmail.com
