Tuesday, December 24, 2024
Home Blog Page 11

VIP Clothing’s Quick Commerce Move: Fast Delivery via Swiggy Instamart

By
Online Desk
-
0
Image of VIP
VIP Clothing’s Quick Commerce Move: Fast Delivery via Swiggy Instamart

VIP clothing Ltd. an inner wear titan debuts in the rapid commerce market by partnering with Swiggy Instamart. 

This agreement allows the company to make quick 10-minute delivery of its men’s innerwear brand, Frenchie. 

VIP Clothing Debuts in the Rapid Commerce Market 

Through this venture the company is targeting modern consumers, who value time and convenience. VIP clothing has been an industry leader in its domain and its entry into the quick commerce market promises to further solidify its business. 

Continue Exploring: Novel Jewels to invest INR 5000 Cr in opening 100 stores across India

VIP Clothing: An Industry Leader in Intimate Apparel

Driven by the expanding middle class, urbanization, and the growth of e-commerce, the company’s revenue rose by 13% to USD 7.2 million in Q2 FY25, up from USD 6.2 million in Q2 FY24.

Continue Exploring: Luxury fragrance brand Nisara enters UAE with Beauty Brands Global

VIP, one of India’s leading manufacturers of intimate apparel, offers a wide range of products across various market segments under multiple brands, including Feelings, Leader, Frenchie, and VIP.

Advertisement

Rcube Projects to Launch Rs 120 Crore Mall in Noida, Plans Another in Delhi

By
Online Desk
-
0
Image of Rcube
Rcube Projects to Launch Rs 120 Crore Mall in Noida, Plans Another in Delhi

Rcube Projects Pvt Ltd has committed Rs 120 crore to launch the Rcube Monad Mall in Noida, which spans 2,50,000 sq. ft. in GLA. 

In addition, the company plans to invest Rs 80 crore in another project in Pitam Pura, Delhi, covering 1,00,000 sq. ft. of space.

Project Official Explains Details of the Upcoming Mall

The mall’s layout allocates 40% of the space to Family Entertainment Centers (FEC) and Food & Beverage (F&B) outlets, while the remaining 60% is dedicated to retail, according to Anuj Malhan, founder of Rcube Projects Pvt Ltd, in an interview with ETRetail.

Continue Exploring: Former Cleartrip CEO’s FirstClub Bags $8M to Disrupt Quick Commerce in India

In a statement, Malhan made the following comments: “It will take us at least one year to get the Noida mall at the sustaining level and post that we will be able to get our RoI. The mall runs on the lease model with a minimum guarantee and revenue share from the tenants”

Ambitious Targets & High Profile Brands Onboarded 

Housing around 80 brands, the mall expects to reach 90-95 occupancy by March next year. He further continued: “By April, we’ll be launching a mall loyalty program and once the mall is fully operational, we are expecting a footfall of 14,000 – 16,000 over the weekends and 8,000 – 9,000 over the weekdays,”

Continue Exploring: Titan Company premiumizes watch line, base price now INR 3,000

The mall features a carefully curated mix of both national and international brands, including Lifestyle, Fab India, Modern Bazaar, Nestasia, and Home Stop, along with specialty stores such as Shoppers Stop Beauty, Metro Shoes, Dayal Opticals, Nykd by Nykaa, Sweet Dreams, and Bata. It also offers a variety of F&B chains like Starbucks, Blue Tokai, Miss Nora, Birch by Romeo Lane, Amritsari Express, and Haldiram. For entertainment, the mall includes MovieMax Edition and Funky Island, providing a complete shopping and leisure experience.

Advertisement

Swiggy Expands Dineout with “Scenes” for Event Bookings at Partner Venues

By
Online Desk
-
0
Image of swiggy
Swiggy Expands Dineout with “Scenes” for Event Bookings at Partner Venues

Foodtech giant Swiggy has launched a fascinating new service name “Scenes” offering customers to book events at their partner restaurants.  

A part of its “Dineout” offering, the service lets users book events, live music, events, celebrations etc at partner venues. 

Swiggy’s Scenes Joins a Growing List of New Services 

Swiggy’s latest offering joins a growing list of services developed by the company. This includes a recently released premium invite-only membership programme, One BLCK. Swiggy also launched its 10 minute food delivery service named Bolt a couple of months back. 

Continue Exploring: Luxury jewellery brand Giva registers 66% revenue growth to INR 274 Cr

This appears to be Swiggy’s first new initiative for its out-of-home consumption vertical in the past year. This vertical includes its exclusive events and experiences platform, Swiggy SteppinOut, as well as the restaurant reservations and booking service, Dineout. 

Swiggy’s Financials Paint a Positive Picture 

In Q2 FY25, Swiggy generated INR 60 crore in revenue from this vertical, marking a 71% increase from INR 35 crore in the same quarter last year. According to Swiggy’s investor presentation, the company expects its out-of-home consumption vertical to reach adjusted EBITDA break-even by the end of the current fiscal year. 

Continue Exploring: India’s Gold demand surges to 50 times production in 2023

The vertical’s losses shrank by 79%, falling to INR 9.26 crore from INR 44.34 crore in Q2 FY24. The adjusted EBITDA margin as a percentage of GOV improved to -1.3% in the latest quarter, compared to -8.8% in the previous year’s quarter.

Advertisement

Uber Launches Moto Women in Bengaluru: A Women-Only Bike Ride Service

By
Online Desk
-
0
Image of uber
Uber Launches Moto Women in Bengaluru: A Women-Only Bike Ride Service

Uber has launched a new service named Uber Moto Women in Bengaluru offering women only bike rides. 

This service would connect women drivers to women riders, and would thus address women safety and mobility concerns. 

Uber’s Moto Women Would Soon Scale Operations Across India 

The company intends to soon scale its operations to all major cities in India, as it sees great potential for it. The head of regional business operations of the company Abhishek Padhye told Business Standard: “For Uber, this is a global-first initiative. We don’t have such women-only products anywhere else in the world. We started with Bengaluru, as it is the largest market for bike-taxis. The city sees 5 million bike-taxi trips across all the platforms per month and this serves about a million riders and 100,000 drivers.”

Continue Exploring: Elon Musk’s Tesla Considers Comeback to India, In Talks with DLF for Showroom Space

Explaining the rationale behind the first of its kind service in the world, he explained: “Last mile transportation is in huge short supply in Bengaluru. What we realised is that 30 per cent of our women riders were already taking bike-taxis. With Uber Moto Women, we’re not just offering a safer and more convenient ride option for women, but also empowering female drivers with the opportunity to earn flexibly in one of India’s fastest-growing mobility segments”. 

Moto Women Serves a Huge Untapped Market 

This service was launched after extensive consultation with women and a deep understanding of their safety and mobility concerns. 

Continue Exploring: Indian Pharma Sector Sees 9% YoY Growth in November, Driven by Price Surge and New Launches

Bike taxies are super affordable, quick and a very attractive commuting option in major cities and this new women only service by Uber promises to cater to a huge untapped market. 

Advertisement

Zomato’s Blinkit Launches Bistro to Challenge Zepto Cafe in the Quick Food Delivery Race

By
Online Desk
-
0
Image of zepto and blinkit
Zomato’s Blinkit Launches Bistro to Challenge Zepto Cafe in the Quick Food Delivery Race

Zomato’s BlinkIt has launched a new service named Bistro, a food delivery application delivering snacks, and other like food items within 10 minutes. Bistro will take on existing brands like Zepto’s Cafe. 

Bistro is in its pilot phase and is only operational in select locations in Gurugram. It delivers food items like: meals, snacks, beverages like tea and coffee in 15 minutes. 

Zomato’s Bistro Takes on Zepto Cafe

This is Zomato’s second attempt at this category. Zomato’s previous attempt with Zomato Instant wasn’t successful. Launched in 2002, Zepto Cafe is rapidly expanding to various cities in India and in a recently made announcement Zepto stated that it would expand Cafe to 120 cities in the country, including Hyderabad, Bengaluru, Delhi NCR, Chennai, Pune.

Continue Exploring: Luxury goods sales to decline 2% in 2024: Bain & Company report

On the other hand Swiggy’s quick food delivery service Bolt was launched in September. Zepto’s co founder said: “We’re launching a separate app for Zepto Cafe next week! The team is shipping an MVP (minimum viable product) and iterating quickly, so it may not be perfect on Day 1, but it’s worth it to launch fast :D”

Zepto Cafe has Seen Phenomenal Growth 

Taking to LinkedIn, he further explained: “Zepto Cafe is scaling rapidly; we’re launching 100+ cafes a month and already clocking 30K+ orders/day”.  Zepto has been expanding exponentially and it has some impressive numbers to prove that. 

Continue Exploring: Wrangler expands presence in India with six new stores, targets 60 in 2025

Recently, co founder Aadit Palicha said: ”The response has been phenomenal, with Zepto Cafe now achieving an (estimated) Annual Run Rate (ARR) GMV of Rs 160 crore with just 15 per cent of our expanding dark store network with proven unit economics.” 

Advertisement

Former Cleartrip CEO’s FirstClub Bags $8M to Disrupt Quick Commerce in India

By
Online Desk
-
0
Image of former cleartrip CEO Ayyappan
Former Cleartrip CEO’s FirstClub Bags $8M to Disrupt Quick Commerce in India

Former Cleartrip CEO Ayyappan R has secured $8 million in seed funding for his quick commerce startup FirstClub. The seed funding round was led by venture capital firms Accel and RTP Global. 

The said round also featured high profile investors including Flipkart founder Binny Bansal, Cred founder Kunal Shah, Myntra founder Mukesh Bansal, and Groww cofounder Lalit Keshre.

FirstClub Intends to be the Costco of India

The platform is said to go online sometime in mid 2025 in Bangalore. The CEO told ET: “We will probably have two-three experience centers in the first 12 months”. Dubbed as the “Costco for India” this ambitious venture will reportedly start with a subscription model. These funds will go into building the technology for the platform and for hiring talent. 

Continue Exploring: Sneaker Platform Culture Circle Raises $2M

CEO Ayyappan told ET: “The next set of retail evolution and disruption in the country is going to happen on the back of the kind of selection you offer to the consumer, similar to what has happened in the western retail markets over the last 20-30 years”. 

FirstClub’s Plan to Establish Itself 

The platform would launch with an offering of mass premium products belonging to categories like food, FMCG, bakery, dry fruits, dairy, and health and fitness supplements, all delivered within 30 minutes. FirstClub also reportedly intends to have an offline retail presence & in the future expand to categories like general merchandise, fashion, home products, and kids’ toys.

Continue Exploring: Bhuvan Bam Joins Peppy as Investor and Co-Founder

FirstClub’s foray into quick commerce comes amidst a slew of high profile firms taking the plunge into the space, chief of which would be Amazon’s quick delivery service launching in Bangalore. 

Advertisement

Bhuvan Bam Joins Peppy as Investor and Co-Founder

By
Online Desk
-
0
Image of peppy
Bhuvan Bam Joins Peppy as Investor and Co-Founder

Popular influencer and actor Bhuvan Bam has joined the popular sexual wellness brand Peppy as an investor and cofounder. 

The fast emerging brand was founded by entrepreneurs Devansh Agarwal and Shyamal Gupta last year. Currently valued at INR 50 crores, it plans to raise more money in the seed round. 

Bhuvan Bam Explains His Association with Peppy

Explaining the reasoning behind his association with the brand Bam said: “For me, Peppy represents an opportunity to drive a much-needed change in how sexual pleasure is perceived in India. While society has made significant changes in many areas, the taboo surrounding physical intimacy continues to hold people back.”

Continue Exploring: Mumbai-based activewear brand Terractive raises INR 8 Cr in Pre-Series A funding

He continued: “It prevents open and honest discussions on personal needs, highlighting the crucial need for creating spaces where open conversations can happen”. The angel investors included Bam, Rohit Raj, founder and CEO of BBKV Productions and Ruchi Gupta, among others. 

The Booming Sexual Wellness Market 

The global sexual wellness market is booming, with a projected value of $32.5 billion by 2033, according to Allied Market Research. This represents a 4.7% annual growth rate from 2024 to 2033, starting from a $20.6 billion valuation in 2023.

Continue Exploring: ITC aims for 4,000 FPOs, connecting 10 Mn farmers in next five years

India is also experiencing significant growth in this sector. The market, valued at $1.15 billion in 2020, is expected to reach $2.09 billion by 2030.

Founder Devansh Agarwal further opined: “Intimate wellness has often been brushed under the rug in India, but we cannot deny the fact that a fulfilling sex life is a crucial part of our overall happiness and well-being. With Bhuvan and Rohit’s signature creativity and knack for connecting with people, we’re breaking barriers and normalizing conversations around pleasure. Peppy is not just about products; we’re about revolutionizing the way India thinks about intimate happiness”. 

Advertisement

Sneaker Platform Culture Circle Raises $2M

By
Online Desk
-
0
Image of sneaker and circle culture
Sneaker Platform Culture Circle Raises $2M

Sneaker centric e-commerce platform Culture Circle has raised $2 million in funding in a round led by Info Edge Ventures. Angel investors also participated in the same. 

This capital would be super useful for the startup to scale its operations globally, enhance technology and solidify its position as a rising e-commerce player. 

Culture Circle’s Expanding Footprint 

Culture Circle operates a luxury e-commerce platform which boasts more than 3,500 sellers and 35 lakh listings. Apart from sneakers it also deals in streetwear and luxury fashion items like bags, blazers, backpacks, cardholders, among others. 

Continue Exploring: Titan Company premiumizes watch line, base price now INR 3,000

Major brands that the platform deals in are Nike, Yeezy, Dior, Supreme, Common Projects, and Louis Vuitton. Based in Delhi NCR, the company recently expanded its operations in foreign jurisdictions including Qatar, Oman, the UAE, Singapore, the UK, and Thailand. 

Founder Devansh Jain Naval told Inc42: “When we launched the platform in January this year, our goal was to be the best in India for sneakers, streetwear, and high luxury. We believe we achieved that. Now, our benchmark is to be the best globally – offering the largest collection, best prices, and guaranteed authenticity. We’re competing with global players like StockX and GOAT, and honestly, our user experience is arguably better (than them)” 

The Expanding Business of Culture Circle

Currently, sneakers and footwear make up the bulk of the startup’s revenue, contributing 60%. Apparel follows at 30%, and accessories round out the remaining 10%. The startup operates on an inventory-free model, earning commissions of 9% to 30% on every sale made through its platform.

Continue Exploring: D2C baby care brand Chicco to open 40 outlets in India by 2027, doubling turnover

Nawal shared that Culture Circle generated Rs 2.2 crore in revenue during its first three months of operation in early 2024. The startup is now aiming to achieve a revenue of Rs 50 crore for the entire fiscal year 2025.

Advertisement

Tech Titans Unite: Elon Musk and Sundar Pichai Discuss Quantum Innovation and Space Exploration

By
Online Desk
-
0
Image of Quantum Innovation
Tech Titans Unite: Elon Musk and Sundar Pichai Discuss Quantum Innovation and Space Exploration

Two of the brightest minds in technology had a hearty exchange about major issues including quantum computing, space exploration, and future energy solutions. 

Musk seemed amazed with Sundar Pichai’s description of Google’s new Willow quantum chip that pushes boundaries of current technology. The exchange on X was fascinating and touched upon a broad spectrum of topics. 

A Fascinating Exchange between the Heads of Google & Tesla

Pichai posted an impressive description of Google’s new Willow quantum chip on X, and Musk responded with “wow”. To this, the Google CEO pitched a futuristic collaboration: “We should do a quantum cluster in space with Starship one day.” The Tesla CEO seemed confident in its inevitability: “That will probably happen”. 

Continue Exploring: KFC introduces ‘Lickable Wrapping Paper’, sets new standard for food brands!

The conversation flew on to a philosophical note, and Musk wrote ”Any self-respecting civilisation should at least reach Kardashev Type II. In my opinion, we are currently only at..”, Pichai seemed to be in complete agreement to this and he wrote: “We should scale solar so much more. Amazing that we keep looking at alternatives when the most obvious path is staring at our eyes, literally!”

Netizens Celebrate the Cordial Exchange 

This fascinating intellectual back and forth between the two titans of technology was celebrated by netizens, who loved the honest and friendly exchange between the two. 

Continue Exploring: India’s food processing boom: A game-changer for FMCG hiring in 2025-26

On the other hand Alphabet, saw its share price rise by about 5% following the announcement of its latest quantum computing chip, Willow. Google has been at the cutting edge of technological and computing innovation and this latest move seems to only reinforce its position as an industry leader. 

Advertisement

Elon Musk Backs Trump’s Proposal for Expedited Permits, But Environmentalists Push Back

By
Online Desk
-
0
Image of Elon Musk
Elon Musk Backs Trump’s Proposal for Expedited Permits, But Environmentalists Push Back

The president elect of the United States, Donald Trump announced a fascinating new scheme for investors and businesses. He said companies that invest $1 billion or more in the US would get fully expedited permits & environmental approvals. 

This proposal targets energy projects related to natural gas pipelines, export terminals, solar farms, and offshore wind turbines. 

President Elect Trump’s Exciting Proposal

Taking to X (formerly twitter), Trump said: “Anyone making a $1 billion investment in the U.S. will receive fully expedited approvals and permits, including, but in no way limited to, all environmental approvals.” He got a resounding approval from Tesla CEO Elon Musk. 

Continue Exploring: Elon Musk’s Tesla Considers Comeback to India, In Talks with DLF for Showroom Space

This comes across as a great relief to businesses who had been critical of the lengthy processes associated with environmental assessments mandated by the National Environmental Policy Act (NEPA). The agency is currently mandated to conduct analysis on the environmental impacts of proposed projects. 

Harsh Criticism from Environment Protection Groups 

However, President Trump’s plan was met with fierce opposition and resistance from environmental groups including Evergreen Action, a Washington-based organisation. They alleged that this move violates the NEPA and prioritises wealthy corporations over public welfare. 

Continue Exploring: Wrangler expands presence in India with six new stores, targets 60 in 2025

Alexandra Adams, chief policy advocacy officer at the Natural Resources Defense Council cautioned the President elect, arguing: “What if someone wants to build a waste incinerator next to Mar-a-Lago or a coal mine next to Bedminster golf course?” On the other hand, the proposal has its set of proponents like Musk who champion it as a great measure. 

Advertisement
1...101112...1,220Page 11 of 1,220