As part of this collaboration, Bisleri will also introduce limited edition bottles showcasing the prominent TT players.
Bisleri, the popular packaged drinking water brand, has recently signed a two-year agreement to become the official hydration partner of Ultimate Table Tennis (UTT). As part of this collaboration, Bisleri will also introduce limited edition bottles showcasing the prominent TT players.
Scheduled to take place in Pune, the Ultimate Table Tennis (UTT) is India’s foremost table tennis tournament, set to run from July 13 to 30.
Tushar Malhotra, Head of marketing, Bisleri International Pvt. Ltd, said, “We are delighted to partner with the Ultimate Table Tennis League as part of our #CarryYourGame campaign wherein we will also be releasing limited edition bottles featuring Manika Batra, Sharath Kamal Achanta and Hana Matelova. We are committed to establish the strong link between Bisleri and Hydration by celebrating sportsmanship and endurance of athletes and players from all genres of sports.”
The partnership will receive additional promotion with the use of co-branded Bisleri delivery trucks, which will traverse the entire city.
Ekansh Gupta, VP, IndianOil Ultimate Table Tennis, expressed their enthusiasm on the collaboration, stating, “Bisleri’s commitment to providing safe and pure water aligns with our mission of offering the athletes the right hydration, enabling them to perform well during the game. We hope the association will help enhance the overall experience for players and fans alike.”
The first overseas Michael Jordan Steak House is slated to open later this year at the Mohegan Inspire Entertainment Resort in South Korea. This exceptional dining establishment, meticulously designed by Kesson from Seoul, is a remarkable partnership between Mohegan, hailing from Uncasville, Connecticut, and Cornerstone Restaurant Group, headquartered in Chicago.
Alongside the Jordan-themed steakhouse, the Inspire complex in Incheon will showcase a variety of enticing culinary offerings. Among them, visitors can look forward to the Cornerstone MJ23 Sports Bar & Grill, an exhilarating venue that celebrates the spirit of Michael Jordan. Furthermore, the complex will introduce two fresh concepts by the company: Hi-Fi Chicken & Beer, a delightful destination for crispy poultry and refreshing brews, and Brasserie 1783, a sophisticated establishment that promises a culinary journey like no other.
“We’ve always had plans to make our concepts international,” said Cornerstone’s President Joshua Zadikoff. “What better way to make a global impression than to bring Michael Jordan’s Steak House and three other concepts to the premier new entertainment destination in Asia.”
Ray Pineault, President & CEO of Mohegan, noted that Michael Jordan’s Steak House and the MJ23 Sports Bar & Grill “are two of our most popular restaurants at our flagship property, Mohegan Sun, in Connecticut, and to bring these two concepts to South Korea, along with brand-new concepts as well, is very exciting.” (There are also two Michael Jordan’s Steak Houses in Chicago, where the famed basketball player spent his NBA career, and one in the Ilani Resort Casino and Resort in Ridgefield, Wash.)
Scheduled to launch in the last quarter of this year, the Inspire resort is set to feature 1,275 hotel rooms, a multipurpose arena with a seating capacity of 15,000, a casino exclusively for foreigners, convention amenities, retail spaces, an indoor waterpark, and an outdoor themed attraction.
Kaso is a B2B platform that revolutionizes the Middle East's food industry by digitizing and automating procurement processes between food suppliers and restaurants.
Kaso, a food-tech company headquartered in Saudi Arabia, has successfully secured $10.5 million in a seed funding round to drive its ambitious goal of transforming the food supply chain.
Notable investors including BY VP, Hala Ventures, Seedra Ventures, and several others lent their support to the funding round.
Established in 2021, Kaso is a business-to-business (B2B) platform that revolutionizes the Middle East’s food industry by digitizing and automating procurement processes between food suppliers and restaurants. With a strong presence in the Kingdom of Saudi Arabia and the United Arab Emirates, Kaso has already partnered with over 5,000 businesses in the region.
The secured funds will play a pivotal role in Kaso’s strategic expansion plans, allowing the company to bolster its operations, further develop its cutting-edge technology platform, and strive to achieve a remarkable gross merchandise value of $1 billion within the next 12 months.
Furthermore, Kaso has recently introduced a specialized FinTech division that focuses on delivering payment solutions and extended credit terms specifically tailored for the restaurant industry. This innovative service not only ensures smooth and efficient payment processing for suppliers but also provides financial flexibility and transparency for all parties involved.
Kaso’s Co-Founder, Manar Alkassar, said, “We are extremely proud to be partnering with globally renowned brands such as Burger King, Buffalo Wild Wings, Tim Hortons, Caribou Coffee, Chili’s and many more. Additionally, it is very encouraging to see strong regional and international investors joining us, especially considering the challenges some startups currently face in the fundraising market.”
“This reaffirms our vision to revolutionise one of the oldest industries on the planet, an industry that still runs on pen and paper, phone calls and WhatsApp. In line with our commitment to tackling these inefficiencies, we are excited to announce the launch of our FinTech vertical, which will offer payments and credit facilities to restaurants, further solving key challenges in the industry. By combining our procurement platform with innovative financial solutions, we are enabling restaurants to thrive in a competitive landscape,” he added.
Bobbie, a US infant formula company, has recently completed the acquisition of Nature’s One, a pediatric nutrition company based in Ohio. The financial details of the transaction remain undisclosed.
The acquisition will support Bobbie in meeting its “full growth potential” while strengthening domestic manufacturing. It follows less than three years after Bobbie’s launch.
Bobbie plans to sustain the production of Nature’s One products under the Baby’s Only brand for the foreseeable future.
Founded in 2019 with the objective of creating secure and nourishing infant formula, Bobbie has recently constructed an infant formula facility, marking the first of its kind in the United States in the past four decades. This state-of-the-art facility empowers Bobbie with comprehensive oversight of the manufacturing process, starting from sourcing raw materials to production and canning.
Laura Modi, Bobbie CEO and co-founder, said, “From inception, Bobbie’s mission has been centred around evolving the infant formula industry, and this acquisition is one of the biggest diversification moves in this very concentrated industry. There is no one better suited to help us pursue this vision than Nature’s One’s founder, Jay Highman – he revolutionised the industry decades ago with his dedication to purity, accessibility, and safety, and this best-in-class facility is no exception. Owning end-to-end production while also continuing our valued partnership with Perrigo is critical as we scale and build the resiliency needed for the future.”
Highman commented, “Nature’s One takes great pride in our evidence-based approach from the ingredients, to the state-of-the-art facility, and the team that has spent years to ensure our formula is safe, nutritious, and accessible for families. By handing the keys to Bobbie, it helps grow our reach and carries forward our message of purity.”
He will remain as Nature’s One’s executive director and will be a key shareholder in the combined entity, alongside Juggernaut Capital Partners, a majority investor.
The company is currently securing funding for its Series C round, which involves active participation from a number of Bobbie’s current investors. This serves as a testament to the unwavering support and confidence of these investors in Bobbie’s potential to consistently revolutionize an industry that is particularly primed for transformation.
Olivia Walton, Founder and CEO of Ingeborg Investments, said that the acquisition positions Bobbie to become a “market leader” in high-quality baby formula and to reach millions more customers who are seeking “better options to feed their babies”.
George Birman, principal at Powerplant Partners, said, “We believe Bobbie is leading a new generation of thinking when it comes to the vitally important areas of infant and child nutrition; in addition to making the highest quality product, Bobbie is unique in its understanding of the challenges and choices faced by modern parents, and as a result is becoming a household name. As investors in consumer brands, we are proud to leverage our category and operating expertise to support the company in the years ahead.”
The Bobbie team has grown from a team of two co-founders to a team of over 100 employees, since its inception.
Financial details of the acquisition were not disclosed.
Nutrizoe, a brand dedicated to women’s nourishment, has recently obtained INR 3 crore in a Bridge funding round. This round was spearheaded by Inflection Point Ventures (IPV). With this significant capital injection, Nutrizoe is poised to grow and elevate its Lactobite portfolio, building upon the successful completion of clinical trials. The primary objective of the company is to advance the product line, ensuring it meets an even broader spectrum of needs and preferences.
The company’s intention is to utilize the funds for both product expansion and international market entry, specifically targeting the United Arab Emirates (UAE). This strategic decision aims to enable Nutrizoe to expand its presence beyond India and offer its innovative solutions to women worldwide. Furthermore, a portion of the funds will be dedicated to research and development endeavors, focused on developing new product formulations that align with Nutrizoe’s mission of providing effective and state-of-the-art solutions in the field of health and wellness.
Founded by Richa Pendake and Saanket K, Nutrizoe is a company dedicated to addressing women’s wellness and health concerns. With a combined corporate experience of over 25 years, this dynamic married couple brings a wealth of expertise to their venture. Nutrizoe made its debut in November 2020 with the introduction of its first product, lactation bars, driven by Richa’s deep passion for promoting women’s well-being.
Speaking about the investment, Richa Pendake, Founder and CEO of Nutrizoe, expressed her excitement, stating, “With growing apprehension around processed foods and the lack of clean labels, our vision at Nutrizoe is to address health issues through functional and nutraceutical food as an alternative to medicines. We are thrilled to have IPV support us in our goal of creating healthy moms and healthy babies. With the varied experience, network, and portfolio companies of IPV, we look forward to an upward learning journey and beyond.”
Vikram Ramasubramanian, Partner at Inflection Point Ventures, emphasized the importance of providing optimal nutrition during various stages of a woman’s life. He stated, “The female body experiences constant changes throughout every stage of life. Despite being aware of the body’s needs, these requirements are often overlooked for various reasons. One crucial phase that requires utmost attention is pregnancy and postpartum recovery. During this time, the body requires significantly more nutrition than usual to maintain the health of both the mother and the baby. Nutrizoe is an essential source of nourishment for women as these scientifically formulated products are enriched with all the necessary natural ingredients and are easily consumable. At IPV, we strongly identify with the brand’s vision of introducing revolutionary products that alleviate the challenges faced by women.”
In the midst of a significant surge in tomato prices nationwide, the Central government has issued directives to its agencies, namely NAFED and NCCF, to promptly acquire the essential vegetable from mandis located in crucial tomato-producing states such as Andhra Pradesh, Karnataka, and Maharashtra.
The increase in tomato prices has been observed nationwide, affecting various regions and geographies rather than being confined to a specific area. In major cities, the prices have surged to a significant extent, reaching as high as INR 150-160 per kilogram.
After acquisition, these items will be promptly sent for simultaneous delivery to key consumption hubs, where retail prices have experienced the highest surge in the last month.
Typically, the months of July-August and October-November are considered low production periods for tomatoes.
The stocks of tomato will be distributed through retail outlets at “discounted prices” to the consumers in Delhi-NCR region by Friday, this week, said a food ministry release Wednesday.
“The targeted centres for release (of tomato) have been identified on the basis of absolute increase in retail prices over the past one month in centres where prevailing prices are above the All-India average.”
Tomatoes are cultivated across the majority of states in India, albeit in varying quantities. The highest production is observed in the southern and western regions of the country, which together account for approximately 56-58% of the total tomato production in India.
“Southern and Western regions being surplus states, feed to other markets depending on production seasons. The production seasons are also different across regions. The peak harvesting season occurs from December to February.”
“The cycle of planting and harvesting seasons and variation across regions are primarily responsible for price seasonality in Tomato. Apart from the normal price seasonality, temporary supply chain disruptions and crop damage due to adverse weather conditions etc. often lead to sudden spikes in prices.”
The government stated that the increase in prices was primarily due to the monsoon season, which exacerbated existing challenges in distribution and led to higher transit losses. It was emphasized that tomatoes have a comparatively shorter shelf life, contributing to the difficulties faced in maintaining their availability and affordability.
At present, the majority of supplies reaching markets in Gujarat, Madhya Pradesh, and several other states primarily originate from Maharashtra, particularly Satara, Narayangaon, and Nashik. This supply chain is anticipated to continue until the end of this month.
In addition to Maharashtra, Madanapalle in Chittoor, Andhra Pradesh, has also been experiencing consistent arrivals of supplies in significant quantities. As for Delhi-NCR, the majority of arrivals are sourced from Himachal Pradesh, while a smaller quantity comes from Kolar in Karnataka.
New crop arrivals are expected soon from Nashik district. Furthermore, in August, additional supply is expected to come from Narayangaon and Aurangabad belt. Madhya Pradesh arrivals are also expected to start.
“Prices are anticipated to cool down in the near future, accordingly,” the food ministry asserted.
Based on the Price Monitoring Division’s database maintained by the Department of Consumer Affairs, there has been a significant increase in tomato prices this month compared to early June in retail markets. On average, the price per kilogram of tomatoes has risen by INR 60-100. The data reveals that in Delhi, prices have surged from INR 20 per kg in early June to INR 110 last week. Similarly, in Chennai, Ahmedabad, and Kolkata, which are three prominent consumption regions, tomato prices have escalated to INR 117, INR 100, and INR 148 respectively.
The data indicated that the prices of tomatoes, a staple vegetable, were in line with the significant increase observed in wholesale markets during the month of June.
As tomato prices continue to soar, analysts anticipate that the retail inflation data for June, which is scheduled to be released later today, may reflect an upward trend.
India’s retail inflation witnessed a decline in May, reaching a two-year low of 4.25 percent. This is a significant decrease from the inflation rates of 4.7 percent in April and 5.7 percent in March. The substantial reduction in inflation numbers can be attributed to the Reserve Bank of India’s consistent monetary policy tightening since mid-2022.
For three consecutive quarters, India’s retail inflation remained above the Reserve Bank of India’s target of 6 percent. It eventually eased back to the RBI’s comfort zone in November 2022.
The advent of the Southwest monsoon and the subsequent floods in the low-lying regions of Delhi have led to a significant surge in vegetable prices, greatly impacting the financial constraints faced by local families.
Tomatoes are currently being sold at exorbitant rates ranging from INR 130 to 240 per kilogram or even higher in multiple locations across the national capital, including Azadpur Mandi.
According to wholesalers, the prices of vegetables, including tomatoes, have witnessed a twofold increase over the past two weeks, resulting in a significant 40 percent reduction in sales.
“People are buying tomato puree instead of tomatoes. I am only bringing 5 kgs tomatoes these days as sales are low. Earlier, when the rates were nominal, I used to sell tomatoes 20 to 25 kgs per day,” said Amar, a vegetable vendor in Laxmi Nagar.
“Daily vegetables including bottle gourd are being sold at INR 70 per kg. Capsicum at INR 80 per kg, bitter gourd at INR 65 per kg, Green coriander at INR 500 per kg, lady finger at 130 per kg,” said Manoj, a wholesaler at Azadpur Sabzi Mandi.
“The price of green cucumber has gone to INR 80 per kg, colocasia at INR 130 per kg, French beans at INR 220 per kg, Ginger at INR 400 to 470 per kg, black brinjal at INR 100 to 120 per kg, pointed gourd at INR 100 to 120 per kg,” he said.
The recent surge in tomato prices is being attributed to the detrimental impact of heavy rainfall on the supply chain. Vegetable vendors and wholesalers are identifying the rain as the primary factor causing disruptions in the tomato supply, consequently resulting in a substantial increase in retail prices for this crucial kitchen staple.
“Now due to flooding in several parts of the national capital, the movement of commercial vehicles has been stopped at the border areas of the city which will also be leading to more hike in the prices of vegetables,” said Anar Chand, a vegetable vendor at Azadpur Mandi.
PepsiCo, in its second-quarter earnings report released on Thursday, revealed that its Indian business experienced high-single-digit organic revenue growth in Q2 2023. The company further noted significant market share gains in both the snacks and beverage segments within India.
“Our developing and emerging markets remained resilient and delivered double-digit organic revenue growth. Mexico, Turkey, Pakistan, Egypt, Poland, and Vietnam delivered double-digit organic revenue growth; India and China delivered high-single-digit organic revenue growth,” the company’s management stated in its remarks for the second quarter ended June 17.
However, in terms of volumes, PepsiCo witnessed a “mid-single-digit decline” in the snacks segment in India during the second quarter.
Commenting on the performance of Africa, Middle East and South Asia (AMESA) region, the company said, “Convenient foods unit volume declined 6 per cent, primarily reflecting a double-digit decline in South Africa, partially offset by double-digit growth in the Middle East and mid-single-digit growth in Pakistan. Additionally, India experienced a mid-single-digit decline.”
During this period, the beverage segment of the company’s India business experienced modest single-digit volume growth.
The company noted that it achieved market share gains in various international markets, including China, India, Saudi Arabia, Turkey, the Netherlands, South Africa, Belgium, and Pakistan, throughout the year.
Despite the challenges faced in the beverage segment, the company reported gaining market share in India. This positive development coincides with the efforts of Varun Beverages, the company’s key bottler in the country, as it has been actively expanding its manufacturing capacities and aggressively growing its distribution network.
Beverage manufacturers encountered difficulties during the summer season in India. Analysts attribute this to unseasonal rains in several regions and moderate temperatures, which resulted in a decline in out-of-home demand for the cold beverage segment. The summer season typically plays a crucial role in driving annual sales of carbonated soft drinks and juices in the country.
LYEF Wellness, a trailblazing company in the Ayurveda and holistic wellness sector, has garnered exceptional accomplishments since its inception in August 2022. Teaming up with Keraleeya Ayurveda Samajam, LYEF Wellness is dedicated to providing genuine Ayurvedic remedies and fostering comprehensive well-being. The brand has observed exponential sales escalation, augmented its market reach, and formed crucial alliances, experiencing an impressive 50 percent month-on-month expansion.
LYEF Wellness, with its strong potential and innovative approach, commanded a valuation of $1 million before initiating sales operations. The company’s growth and expansion have been fueled by a successful seed funding round of $100,000. This milestone serves as a testament to the rising demand for Ayurvedic products and LYEF Wellness’ capacity to meet the ever-changing requirements of health-conscious consumers.
Suresh Raja, MD of LYEF Wellness and Former South India Head – Clearance and Gateway Operations at FedEx, stated, “Our commitment to providing integrated natural and sustainable solutions resonates with a growing number of individuals seeking healthier lifestyles. We have expanded our product and service line to include a broader range of Ayurvedic supplements and wellness services. These offerings are meticulously curated and formulated by our partner, Keraleeya Ayurveda Samajam, which boasts a 120-year-old legacy in the Ayurveda product space and a team of 20 Ayurveda doctors. Our aim is to become a global leader in the wellness industry, inspiring individuals to prioritize their health and well-being through Ayurvedic principles.”
Recognizing the challenges surrounding product availability in Ayurveda, Suresh Raja reiterated the importance of a robust supply chain. LYEF Wellness is actively engaged in effectively bridging this gap to ensure efficient operations.
LYEF Wellness has strategically expanded its operations to the United States, driven by the remarkable prospects offered by the thriving global wellness market. By venturing into this $450 billion industry, LYEF Wellness aims to seize the tremendous opportunities that lie ahead. The Ayurveda market in the US alone is valued at an impressive $14.9 billion, making it an attractive target for LYEF Wellness to establish a strong presence and contribute significantly to this rapidly expanding sector. Notably, all their products have received approval from the US FDA, guaranteeing both quality and sustainability as key pillars of their offerings.
LYEF Wellness owes its success to a comprehensive holistic wellness platform that revolves around three fundamental pillars: Products, Services, and Knowledge. By adopting this all-encompassing approach, LYEF Wellness strives to offer individuals a diverse range of Ayurvedic products, personalized services such as consultations with doctors, and valuable knowledge through accessible online courses. This multi-faceted strategy ensures that individuals can benefit from a complete wellness experience that caters to their unique needs and empowers them to achieve optimal well-being.
LYEF Wellness offers its products through various channels, ensuring wide accessibility to customers. Apart from its official website, the company’s products are available on popular e-commerce platforms like Amazon, Healthkart, TATA 1MG, and PharmEasy. This multi-channel approach enables customers to conveniently purchase LYEF Wellness products from their preferred online platform.
Furthermore, LYEF Wellness has set its sights on expanding its reach to international markets. The company is actively working towards listing its products on Amazon USA, which will provide access to a vast customer base seeking genuine Ayurvedic products. This move demonstrates LYEF Wellness’ commitment to catering to a global audience and meeting the growing demand for authentic Ayurvedic remedies.
Tata Soulfull, a flourishing brand in India’s retail industry known for its millet-based packaged foods, has announced a significant partnership with Reliance Retail as the lead sponsor for the upcoming Maha Millet Mela. As a respected subsidiary of Tata Consumer Products Ltd., Tata Soulfull is dedicated to bringing traditional Indian millets such as Ragi, Jowar, and Bajra to households throughout the country in modern and innovative forms. Their diverse product lineup includes Millet Muesli, Ragi Bites breakfast cereals, and Masala Oats+, among others.
The Maha Millet Mela, a distinctive millet festival slated for July and August 2023, is set to be hosted at renowned Reliance Retail stores all across India. Its primary objective is to raise awareness about the nutritional advantages of millets and enhance their accessibility to a wider range of households. This initiative aims to make millets a commonplace choice by encouraging every shopper at Reliance stores across the nation to incorporate them into their shopping baskets.
Millets, the ancient grains with strong roots in traditional Indian cuisine, are now being celebrated for their gluten-free properties, exceptional nutritional content, and rich reserves of iron, protein, dietary fiber, and calcium. With a growing demand for healthier food choices, millets have experienced a remarkable resurgence in contemporary Indian households. Moreover, their cultivation demands considerably less water compared to other grains, presenting advantages for both farmers and the environment.
The two-month-long Millet Mela will be a nationwide on-ground event, spanning over 400 Reliance stores. Within each participating store, a dedicated section will be designated exclusively for millet-based products, offering visitors a distinctive shopping experience. Tata Soulfull’s product range, including Millet Muesli, Ragi Bites No Maida Choco, Ragi Bites Fills, and Masala Oats+, will be prominently featured as part of this strategic partnership, enabling shoppers to savor Tata Soulfull’s wholesome products and reintroduce millets to their plates with a focus on taste and health.
Sunil D’Souza, the MD and CEO of Tata Consumer Products said, “Recognizing the numerous advantages millets offer to consumers, farmers, and the environment, it is important to spread public awareness and promote the sustainable growth and consumption of this remarkable grain. Tata Soulfull is dedicated to bringing traditional Indian millets like Ragi, Jowar, and Bajra to every Indian household in modern forms, and we are thrilled to partner with Reliance Retail, India’s largest retailer, for the Maha Millet Mela. Through this initiative, we aim to highlight the benefits of millets, drive their adoption, and make them more accessible. With an extensive range of products across snacking, breakfast cereals, and mini-meals under Tata Soulfull, we look forward to reaching even more consumers through Reliance stores.”
Damodar Mall, the CEO of Grocery Retail at Reliance Retail said, “Brands like Tata Soulfull and platforms like SmartBazaar and JioMart are taking forward the legacy of our grandmothers and aunts, who were the original ‘influencers’ of their time, sharing the goodness of millets and the cultural stories surrounding them. Millets encompass both nourishment and deep cultural significance. Collaborations like this will amplify their role in the Indian consumer market.”
In order to enhance the overall shopping experience, the Maha Millet Mela has planned captivating consumer offers to stimulate the exploration and acceptance of millets. Moreover, strategic print advertising assistance will be extended in major cities to amplify awareness and promote active engagement in the festival.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.
