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Thums Up Powers Coca-Cola’s India Surge: 10%+ Volume Growth, 100K Digital Retailers Added, and Big Mahakumbh Push

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Thums Up Powers Coca-Cola’s India Surge: 10%+ Volume Growth, 100K Digital Retailers Added, and Big Mahakumbh Push

India is proving to be a fizzy goldmine for The Coca-Cola Company. In its latest quarterly update, the beverage giant reported double-digit volume growth in the Indian market for Q1 2025, thanks largely to the enduring popularity of homegrown icon Thums Up and the flagship Coca-Cola brand.

The Atlanta-based company credited India, China, and Brazil for much of the lift in global performance, with the trio helping Coca-Cola clock a 2% growth in global unit case volume for the quarter ending March 28.

“In India, our flagship Coca-Cola and Thums Up are driving strong momentum, pushing us into double-digit volume gains for the quarter,” the company shared in its earnings release.

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One standout moment for Coca-Cola India this quarter was its massive brand activation at the Mahakumbh Mela in Prayagraj—a first-of-its-kind move that gave the company visibility on a cultural stage few other brands can claim.

On the company’s investor call, Chairman and CEO James Quincey pointed to India as a standout performer. “India continues to shine with impressive volume growth across both global and local brands,” he said.

Quincey also noted the expansion of Coca-Cola’s footprint, highlighting that its system in India had:

  • Added 350,000 new retail outlets
  • Increased cooler installations
  • Onboarded 100,000 new users to its digital B2B platforms
  • Grown household penetration

Despite this upbeat picture, not every segment sparkled. India saw a drop in sales for non-alcoholic ready-to-drink (NARTD) beverages, a category that includes juices, energy drinks, and dairy-based alternatives. The company acknowledged that gains in countries like the Philippines and Japan were offset by volume dips in Indonesia and India.

Still, India remains a crucial player for Coca-Cola—its fifth-largest market globally—and continues to be a growth engine, especially in traditional soft drinks.

Across the Asia Pacific region, which includes India, unit case volumes rose by 6%, driven by demand across categories. However, there was a caveat: Coca-Cola’s net operating revenue in Asia Pacific fell by 4.05% to USD 1.42 billion, impacted by currency fluctuations and pricing dynamics.

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In a market as competitive—and thirsty—as India, Coca-Cola seems to be doing more than just keeping up. It’s charging ahead, cooler by cooler.

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Nestasia Brings Delhivery’s Sahil Barua on Board to Turbocharge Growth and Gear Up for IPO Run

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Nestasia Brings Delhivery’s Sahil Barua on Board to Turbocharge Growth and Gear Up for IPO Run

Home and lifestyle label Nestasia has brought on Sahil Barua, co-founder and CEO of logistics powerhouse Delhivery, as the newest member of its board of directors.

The move signals a new phase for Nestasia, as it gears up for aggressive growth and lays the groundwork for what could eventually be a stock market debut. Barua’s addition to the board isn’t just a high-profile name drop—it’s a calculated step toward operational scale, smarter distribution, and tighter backend systems.

Continue Exploring: The End of a Retail Era: Neville Noronha Checks Out, Anshul Asawa Checks In

Barua, known for transforming Delhivery from a scrappy startup into one of India’s top logistics giants, comes with a solid pedigree—an engineering degree from NIT Surathkal, an MBA from IIM Bangalore, and a consulting stint at Bain & Company. His experience navigating the logistical labyrinth of Indian commerce is expected to help Nestasia streamline and scale like never before.

“Sahil’s track record isn’t just impressive—it’s inspiring,” said Anurag Agrawal, co-founder of Nestasia. “He’s built a company from scratch that redefined how goods move across India. That kind of clarity and execution is exactly what we need as we grow our footprint and ambition.”

Founded in 2019 by Aditi Murarka and Anurag Agrawal, Nestasia has quietly built a catalogue of over 7,000 SKUs, spanning eight categories—from stylish serveware to statement home décor. The brand serves a mix of individual consumers and large hospitality clients, counting names like Taj Hotels, JW Marriott, and Prestige Group among its customers.

2024 saw the launch of seven exclusive stores in six cities—a clear indication of its offline ambitions. By the end of 2025, the brand plans to triple that number, targeting 30 physical outlets while also beefing up its presence across e-commerce and quick-commerce platforms.

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With Barua’s logistical brain now in the mix, Nestasia looks poised to move faster, think bigger, and maybe—just maybe—get IPO-ready sooner than expected.

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Mumbai’s Malaki Bags Rs 5.7 Crore to Sparkle Across India—Backed by Venture Catalysts, Maarc Ventures & Dadachanji Family

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Mumbai’s Malaki Bags Rs 5.7 Crore to Sparkle Across India—Backed by Venture Catalysts, Maarc Ventures & Dadachanji Family

Mumbai-based Malaki, a premium beverage company known for its stylish and health-forward drinks, has secured Rs 5.7 crore in a seed funding round. The investment was spearheaded by Venture Catalysts, with backing from Maarc Ventures and the Dadachanji Family Office.

After gaining widespread recognition through its appearance on Shark Tank India, the brand is gearing up for its next phase of growth. The fresh funds will help Malaki scale up its presence in key Indian cities like Delhi NCR, Bengaluru, Hyderabad, and Jaipur. The brand also plans to deepen its reach on quick-commerce platforms and expand its footprint in high-end hotels and restaurants.

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Founded in 2020 by brothers Mohit and Ashish Bhatia, Malaki has carved out a space for itself in India’s evolving beverage scene. Its range—which includes tonic waters, sparkling waters, alkaline waters, and ginger ales—is packaged in distinctive glass bottles that reflect the brand’s clean design and eco-friendly values. A standout element is its patented Crystal Bottle, which has become something of a signature for the brand.

“Malaki was created because we felt Indian consumers were ready for something more elevated—something thoughtful, world-class, and proudly Indian,” said Mohit Bhatia. “We’re not trying to copy global trends—we want to lead with our own vision and create products worth celebrating.”

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The brand is already stocked in over 500 premium hospitality locations and boasts partnerships with names like Singapore Airlines, Ritz Carlton, and Hyatt across cities like Mumbai, Pune, and Goa. Its expansion plan is aimed at connecting with the new wave of Indian consumers who value both health and good design.

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Gurugram-Based Storytelling Startup Mugafi Raises $3 Million to Fuel AI Innovation and Creative Growth

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Gurugram-Based Storytelling Startup Mugafi Raises $3 Million to Fuel AI Innovation and Creative Growth

Mugafi, a fast-emerging creative tech company headquartered in Gurugram, has secured $3 million in seed funding to supercharge its AI-driven storytelling platform. The investment round drew participation from a dynamic mix of backers, including StartupXseed, Auxano, MarsshotVC (founded by the Razorpay team), BeyondVP, and WeFounderCircle.

This fresh capital injection will help Mugafi sharpen its proprietary AI tools, grow its footprint into untapped markets, and bring aboard high-calibre talent to accelerate its next phase of growth.

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At the heart of Mugafi’s offering is a mission to transform how stories are created and shared. Geared towards creators in the media and entertainment space, the platform equips users with a suite of AI tools designed to streamline and elevate the storytelling process. Its flagship product, VED, functions like a creative partner for screenwriters, lyricists, filmmakers, and content creators—offering support with everything from building story arcs to sculpting characters and fine-tuning dialogue.

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But Mugafi goes beyond tools. It also acts as a bridge between emerging talent and industry veterans, creating a collaborative ecosystem where writers, musicians, and other creatives can connect, co-create, and get discovered.

With artificial intelligence fast becoming a force in creative industries, Mugafi aims to stay ahead of the curve by building tech that empowers rather than replaces human imagination. The company’s next chapter will focus on enhancing its core technology, expanding its user base, and unlocking new monetization avenues for creators—while positioning itself as a go-to destination for storytelling in the age of AI.

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Meesho Drops ‘Fashnear’ Tag, Moves to Reinvent Its Corporate Identity as It Eyes E-Commerce Dominance

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Meesho Drops ‘Fashnear’ Tag, Moves to Reinvent Its Corporate Identity as It Eyes E-Commerce Dominance

Meesho is making a major branding move. The company’s board has greenlit a plan to shed its old legal name — Fashnear Technologies — in favor of Meesho Pvt Ltd, according to regulatory records sourced via Toflr. The paperwork has been filed with the Ministry of Corporate Affairs, and the change is now awaiting formal approval.

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As part of the broader reshuffle, Meesho has also approached the National Company Law Tribunal (NCLT), marking the next step in its shift to re-domicile. Once that’s wrapped up, Meesho Pvt Ltd will officially become the holding entity for all marketplace operations.

The company says this is more than just a cosmetic tweak. “This realignment reflects our brand more accurately, helps clear up confusion around our corporate identity, and boosts both internal clarity and external trust,” Meesho noted in its filing with the Registrar of Companies.

This move follows a similar strategy recently adopted by Zepto, which transitioned from Kiranakart Technologies to Zepto Private Ltd after securing the green light from regulators.

Behind the scenes, Meesho is riding strong business momentum. In its March annual report, the platform revealed it clocked 1.3 billion orders between April and December 2024 — a 34% jump year-over-year and equal to its total for the entire previous fiscal year.

As of December 31, Meesho had 187 million unique transacting users over the past year, up 26% from the previous year. The company is currently operating at a GMV run rate of $6.2 billion and is expected to grow at a 26% CAGR over the next six years, according to brokerage firm CLSA.

While Meesho trails Amazon and Flipkart in total GMV due to its lower average order value (between ₹315–₹350), it has taken the lead in volume. The platform now processes 4.9 million orders a day and boasts 180 million monthly active users — numbers that reflect deep penetration, especially in smaller towns.

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CLSA estimates Meesho will boost its share in India’s e-commerce pie from 8.5% to 10% by 2030. That growth is expected to be fuelled by its lean cost structure, aggressive pricing, and solid traction across Tier-2 and Tier-3 markets.

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Delhi Police’s Economic Offences Wing Slaps FIR on Medikabazaar Co-founder Vivek Tiwari Over Alleged Rs 100 Crore Fraud

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Delhi Police’s Economic Offences Wing Slaps FIR on Medikabazaar Co-founder Vivek Tiwari Over Alleged Rs 100 Crore Fraud

Vivek Tiwari, co-founder of healthcare supply platform Medikabazaar, finds himself in serious legal trouble. Delhi Police’s Economic Offences Wing (EOW) has filed an FIR against him, leveling charges of cheating, criminal breach of trust, forgery, and cooking up company records.

This development comes shortly after Tiwari’s ouster from the company’s board, a move triggered by accusations of financial misconduct. According to Boston Ivy Healthcare Solutions, the parent firm behind Medikabazaar, Tiwari — along with 13 others — engaged in what it described in regulatory filings as “fraudulent and malicious activities,” causing severe damage to the company’s reputation and finances.

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Sources close to the investigation said Tiwari failed to appear despite being summoned twice by the EOW. Adding to the intrigue, he is reportedly outside the country. His legal team has sought anticipatory bail, promising his return by April 16 — a promise that remains unfulfilled. So far, the courts have not granted any protection from arrest.

The FIR paints a grim picture, alleging that Tiwari orchestrated a sophisticated scheme to siphon off over Rs 100 crore, manipulating accounts and breaching contractual obligations in the process. Investigators have described him as the mastermind behind what they call a “systematic and calculated fraud.”

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Responding via email, Tiwari has dismissed the accusations, calling them a “smear campaign” driven by “selfish interests.” He insists the allegations are baseless, fabricated to tarnish his image and sideline him.

The case has stirred considerable attention in startup circles, raising fresh concerns around governance and accountability in high-growth ventures.

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Adinath Agro to Raise Rs 80 Crore Led by Carpediem Capital; Eyes 1.2 Lakh Retail Outlets and Expansion into 9 States

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Adinath Agro to Raise Rs 80 Crore Led by Carpediem Capital; Eyes 1.2 Lakh Retail Outlets and Expansion into 9 States

Adinath Agro, the company behind the Surabhi and Winn brands, is set to raise Rs 80 crore in fresh funding, combining 70% equity and 30% debt. The equity portion will be primarily driven by Carpediem Capital, according to CEO Chandan Polekar, who spoke to ETRetail.

The fresh capital will be channelled into expanding its production capacity, ramping up manufacturing infrastructure, and pushing marketing efforts into high gear.

“We’ve already locked in commitments for about half the amount and are confident of closing the full round before this quarter wraps up,” Polekar said. Carpediem Capital had also backed the company during its earlier fundraise in 2015-16.

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Right now, Adinath Agro has a footprint in Maharashtra, Goa, and Karnataka. But that’s set to change—with expansion plans underway to cover six additional states: Tamil Nadu, Andhra Pradesh, Telangana, Kerala, Gujarat, Madhya Pradesh, and Chhattisgarh, all within this financial year.

“We’ve already brought on board distributors for these new markets and expect to begin operations there shortly,” he added.

In terms of retail presence, Adinath currently reaches about 45,000 general trade outlets and has set an ambitious target of nearly tripling that number to 1.2 lakh within two years.

On the modern trade front, their products are already on the shelves at big chains like DMart and Reliance Retail. The next push will be into regional players, including Ratnadeep, Vijetha, and Namdhari’s in southern India.

“Our e-commerce efforts are also gaining momentum. We’re available across India on platforms like Zepto and Amazon Fresh, and are in active discussions with Flipkart Minutes. Swiggy has gone live for us in Gujarat,” Polekar shared.

Adinath currently operates in five main product segments—ketchup, Chinese sauces, mayonnaise, Indian condiments, and canned foods. By the end of the year, it plans to expand this to eight.

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Across both brands, Surabhi and Winn, the company offers 40 SKUs today. It’s prepping to roll out a new line of Chinese masalas and soups priced at Rs 10, which will introduce 15 more SKUs within the next six months.

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Cars24’s Bold Restructuring: 200 Employee Layoffs Amidst Fierce Competition from Spinny, While Revenue Hits Rs 6,917 Crore

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Cars24’s Bold Restructuring: 200 Employee Layoffs Amidst Fierce Competition from Spinny, While Revenue Hits Rs 6,917 Crore

Cars24, the prominent online platform for pre-owned vehicles, has recently let go of approximately 200 employees from its product and technology teams. This move is part of a larger reshuffling effort aimed at refining operations and ensuring smoother efficiency.

The layoffs come at a time when the used-car market is becoming increasingly competitive, with rivals such as Spinny attracting fresh investments — including a significant $131 million from Accel’s Leadership Fund.

In a statement addressing the cuts, Cars24’s co-founder and CEO Vikram Chopra described the decision as “difficult,” emphasizing that the layoffs were not performance-related, but rather part of a strategic restructuring. “We are incredibly grateful for the contributions of those affected,” Chopra said. “We’ve learned that moving quickly without a clear direction can be costly, and in some cases, roles and projects were introduced too soon. Going forward, we plan to be more methodical with how we expand and build our team.”

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The company, which is backed by SoftBank, has provided the laid-off employees with standard severance packages.

While navigating this internal change, Cars24 continues to offer a broad spectrum of services, including vehicle buying and selling, financing, insurance, FASTags, challan management, driver-on-demand, and vehicle scrapping. In late 2021, it secured $450 million in funding from key investors such as SoftBank, Tencent, and DST Global.

Although the company has yet to release its figures for FY25, its revenue grew by 25% in FY24, reaching Rs 6,917 crore, up from Rs 5,530 crore the previous year. Despite this growth, it reported a net loss of Rs 498 crore and an adjusted EBITDA loss of Rs 318 crore.

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In addition to the layoffs, Cars24 recently made headlines with its acquisition of auto forum Team-BHP, which will maintain its independence. The company has also rolled out several new initiatives, including Fourdoor, a multi-brand car servicing platform, and a new ‘New Cars’ business that promises AI-powered experiences and home test drives.

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Deepinder Goyal Slams Viral Reddit Claims of Zomato (Now Eternal) Falling Apart Amidst Allegations of Market Share Loss to Zepto Cafe and Swiggy

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Deepinder Goyal Slams Viral Reddit Claims of Zomato (Now Eternal) Falling Apart Amidst Allegations of Market Share Loss to Zepto Cafe and Swiggy

Deepinder Goyal, Founder and CEO of Zomato — now rebranded as Eternal — has shot down a viral Reddit post that painted a grim picture of the company’s current state.

The anonymous post accused Eternal of losing ground to competitors like Zepto Cafe and Swiggy, claiming that internal chaos, questionable new rules, and a toxic work culture were taking a toll on the company. One of the more explosive allegations was that Eternal employees were being forced to order food exclusively from Zomato, with a quota of seven orders a month — and that management was tracking who complied.

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Responding on X (formerly Twitter) over the weekend, Goyal called the claims “utter nonsense” and firmly denied that Eternal was bleeding market share or forcing its employees to use the platform. “Freedom of choice is something we stand for vehemently,” he wrote, adding, “It’s embarrassing to even have to respond to this, but I’m doing it because so many people reached out with concerns. Thanks to everyone who checked in — appreciate it.”

The Reddit post, which quickly gained attention online, alleged that during a recent internal meeting, Eternal’s leadership admitted they were losing significant market share and reacted with panic-driven decisions. It also claimed that Rakesh Ranjan, CEO of Eternal’s food delivery business, tried to rally the team in a Slack town hall on Monday — but was apparently removed from his position by Wednesday.

The post painted a picture of leadership musical chairs, mounting internal confusion, and a company focused only on short-term numbers rather than long-term stability. It also claimed that overworked and underpaid delivery partners were leaving Eternal in droves for better pay at competing platforms.

In a statement issued last Thursday, Eternal clarified that Rakesh Ranjan had not resigned and any leadership changes were part of normal organizational realignment aimed at boosting efficiency.

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Despite the social media uproar, Goyal insisted that the core business remains strong and Eternal continues to be on solid footing — no matter what anonymous insiders may be saying online.

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Reliance Retail Posts 29.1% Jump in Q4 Profit to ₹3,545 Crore, Mukesh Ambani Credits Store Recalibration and Hyperlocal Delivery Push

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Reliance Retail Posts 29.1% Jump in Q4 Profit to ₹3,545 Crore, Mukesh Ambani Credits Store Recalibration and Hyperlocal Delivery Push

Reliance Retail Ventures Ltd (RRVL), the retail arm of Mukesh Ambani’s Reliance Industries, wrapped up the March quarter of FY25 with a strong 29.1% jump in net profit, clocking ₹3,545 crore. Gross revenue during the same period climbed 15.65% to ₹88,620 crore, according to a regulatory filing by Reliance Industries Ltd (RIL).

For the full financial year ending March 2025, Reliance Retail posted a gross revenue of ₹3,30,870 crore — a growth of 7.85% over the previous year — while net profit rose 11.33% to ₹12,388 crore. In comparison, during the January–March stretch of last year, the company had earned ₹76,627 crore in gross income and posted a profit of ₹2,746 crore.

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The latest March quarter also saw operating revenue climb 16.3% to ₹78,622 crore, up from ₹67,610 crore a year ago. Digital commerce and new commerce — areas where Reliance has been aggressively expanding — made up 18% of total revenue this quarter, showing solid momentum in the company’s online and tech-driven efforts.

Reliance Retail’s EBITDA (earnings before interest, taxes, depreciation, and amortization) also rose by 14.3% year-on-year to ₹6,711 crore for the quarter.

Expansion on the ground continued as well. The retailer opened 2,659 new stores across the country during FY25, though after some store rationalisation moves, the total network stood at 19,340 outlets, covering a massive 77.4 million square feet by the end of March.

Commenting on the performance, Reliance Industries Chairman and Managing Director Mukesh Ambani said the retail business maintained steady growth throughout the year.

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“In FY25, we took a strategic look at our store network to drive better efficiency and sustainability in operations,” Ambani said. He added that a broader product lineup, better customer experience across formats, and faster hyperlocal deliveries helped the company strengthen its connect with users and tap deeper into consumer demand.

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