Land Rover and Jaguar drag on Tata
Just when many thought Tata’s run of bad luck might be nearing its end, India’s largest conglomerate was this week forced to shift the venue of the glamorous launch of its newly acquired Jaguar and Land Rover brands in India.
The event had to be quickly switched to the group’s Taj President Hotel in Mumbai after its flagship property, the Taj Mahal Palace and Tower Hotel, caught fire the night before.
But Ratan Tata, Tata’s chairman, remained upbeat about the marques he bought from Ford last June for $2.5bn.
“It was a terrific decision that we took to bid for these two brands and own them,” he told reporters. “We are going through a downturn today that has unfortunately somewhat condemned Jaguar and Land Rover in perception, [but] that perception is very wrong.”
Source: Financial Times
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