Freakonomics and Cravatex Announcement
Just about to complete a superb book Freakonomics: A Rogue Economist Explores the Hidden Side of Everything by Steven Levitt and Stephen Dubner, Amazon Link
A must read for anyone who liked Influence by Robert Cialdini. Clearly the book has over 50 man years of research behind it. I’ll post very interesting snippets from the book on widespread cheating by teachers in Chicago public schools, complete bewilderment of reasons behind drop in crime in the US in 1990s, Sumo wrestling considered sacrosanct by Japanese have implicit cheating as a cartel even though no money is changed, sage percipience of Narcotics business from a university graduate who lived amongst gangsters as a research work for four years. Steven is a non ordinary economist a detective and spy who has a lot of spunk and spark about him trying to figure stuff out.
Since I am following this stock I noticed an announcement BSE on the 10th of March which prompted me to look into motivation behind it.
More details on the announcement is at
It is too early to comment on the prospects. There have been some changes in top management of FILA UK and Directors of Cravatex Ltd, Proline India Ltd i.e. Rajiv Batra and Rajesh Batra have stepped down as directors from Jan 2011 as can be seen from link below. Guessing this must have been part of negotiations to be mafia of whole of Indian subcontinent including neighbouring countries under their territory.
Both brothers own a few other companies registered in UK dealing in sports.
Incase you did not know FILA faced financial hurdles due to over endorsement few years back and now the business is being resurrect globally since 2008. SBI group of Korea owns it along with management who went for rights issue and loans to capitalise the company.
Most of the innovation and extension in apparels like Golf apparels, Mountain wear, Innerwear / Undergarments and Kids range besides the sports range is coming in Korea, US and should follow in other countries with a time lag.