Diwali is the Indian gift-giving season, happens in the fall.
They did some tweaking of the currency in India in the fall (Demonetization).
Now they're going to be disrupting at the high end and the low end.
EconomicTimes.indiaTimes -- more at the source.
Q) But with Chinese brands putting in top dollars and you holding back, you are losing market share which will be difficult to regain later?
It is not about losing ground. It is all about what at what time. If we start doing the same thing, we start burning the same amount of money. We wanted to do it (launches) right after Diwali. But post Diwali, demonetization happened. Now we will be coming up with products that are high end and also products which are in the lower end segment. We will cause disruption at both spots.