Global entrepreneur Teja Chekuri, known for his successful microbrewery Ironhill India, has acquired nine Dunkin’ franchisees through his company, Golden Horn Group.
Chekuri and his business partner Mitesh Patel, owners of Golden Horn Group, acquired nine former Dunkin Donuts franchises in Massachusetts for $18 million. The purchased franchises in Sharon, Hanover, Weymouth, Braintree, and Quincy will be managed by OM Network LLC, a subsidiary of Golden Horn Group.
Teja Chekuri, President, Golden Horn, said, “This is a historic move for our company because getting a Dunkin’ franchisee is really tough. They have set an impressive benchmark of growth in the industry which when achieved enhances progress.”
Golden Horn Group underwent a two-year process, including approvals and background checks, to acquire the franchisee. The remaining ownership transfer is anticipated to be finalized within the next six to eight months.
“We wanted to get into QSR, because it is easier to manage compared to a full-scale restaurant,” Chekuri said, adding that the company was particularly eyeing the coffee space over food. “Profit margins, at least for us (where Dunkin sells mostly coffee), are better. Cost is (relatively) less for coffee.”
The company is in the process of bolstering its backend systems to support its plans for expansion. It has retained the staff, but aims to work on the technology system to boost growth. “We start with 9 Dunkin stores in and around Boston, Massachusetts today and intend to reach 150 outlets in five years across several cities in the US,” Chekuri added.
Founded by Bill Rosenberg in 1950, the Massachusetts-based company operates over 13,000 franchises worldwide, offering a range of products including donuts, bagels, coffee, and donut holes.
“While getting into the system is tough, once you become a part of it, Dunkin supports you in financial growth,” said Chekuri.
Currently, the company has no intentions of venturing into other Quick Service Restaurant (QSR) chains.
In addition to owning Golden Horn Group, Chekuri is also the proprietor of several other restaurants. In the US, he owns the Godavari Group of Restaurants, which has introduced brands such as Madras Dosa Co, 1947 – Truly Indian, and Vaanga. In India, Chekuri launched the craft beer brand Prost in 2012 and established the microbrewery Ironhill India in 2017, operating in multiple cities across the country.
By utilizing the UrbanPiper platform and embracing ONDC, merchants can now enjoy the advantages of efficiency while expanding their market presence. (Representative Image)
UrbanPiper, the SaaS platform for restaurants and food businesses, has partnered with uEngage and Bitsila to facilitate direct selling for merchants on ONDC, India’s open network for digital commerce established by the Government of India.
This move aims to create a transparent and efficient e-commerce ecosystem that benefits all stakeholders in the food business. By leveraging UrbanPiper’s platform, restaurants and food businesses can effectively manage their operations through features such as omnichannel online order management, menu management, and inventory management.
Ashish Saxena, UrbanPiper India Head of Business, said, “We are thrilled to partner with uEngage and Bitsila to bring the benefits of our platform to ONDC. Our technology will enable merchants to sell on ONDC in a way that is easy, efficient, and cost-effective, and we are excited about the opportunities this will create for our customers.”
By utilizing the UrbanPiper platform and embracing ONDC, merchants can now enjoy the advantages of efficiency while expanding their market presence. ONDC enables swift onboarding of merchants, empowering them to effortlessly sell their products and services on the network. This initiative helps businesses boost sales, streamline operations, and reduce costs effectively.
T Koshy, MD & CEO of ONDC said, “UrbanPiper’s platform, coupled with uEngage and Bitsila’s expertise, will enable merchants to sell directly on ONDC, thus paving the way for enhanced operational efficiency.”
Speaking on the partnership, Sameer Sharma, Founder of uEngag, said, “Over the past four years, uEngage has created a very extensive SAAS tech platform for restaurants and provided them with two major benefits ownership of data and reduced commissions. With ONDC, we just have a bigger ocean! uEngage is looking forward to joining forces with UrbanPiper to enable its large pool of restaurants on ONDC at lowest seller app side commissions.”
Dasharatham Bitla, Bitsila Founder & CEO, said, “This is a huge leap forward for the entire F&B ecosystem & we are very excited to bring in a huge transformation through our partnership with Urbanpiper. With Bitsila, restaurants can now instantly get listed on 10+ e-commerce platforms and generate more than double the revenue at less than half the commission, thus making the business more profitable and sustainable.”
The partnership with ONDC represents a significant advancement in the government’s vision of building an open, transparent, and reliable e-commerce ecosystem in India. UrbanPiper remains committed to providing restaurant operators with exceptional opportunities for sustainable business growth. This collaboration is yet another important stride in that direction.
The second edition of 'World Food India 2023' aims to commemorate the International Year of Millets in 2023 and foster collaboration within the global food processing industry. (Representative Image)
The Food Processing Industries Ministry is seeking suggestions from other ministries and departments for the second edition of ‘World Food India 2023,’ set to take place in the first week of November. The inaugural event in 2017 aimed to showcase India’s food culture and attract investments in the food processing sector.
The second edition of ‘World Food India 2023’ aims to commemorate the International Year of Millets in 2023 and foster collaboration within the global food processing industry.
According to an official statement, an inter-ministerial committee meeting, led by Anita Praveen, recently discussed the government’s readiness for the upcoming event.
“All central ministries and departments were requested to share suggestions on the planned sessions of World Food India and participate in the event activities as well as support the ministry in awareness creation,” it said.
As per the statement, the Investment Facilitation Cell (Invest India) and the event partner (FICCI) have been instructed to liaise with the respective ministries to facilitate coordination for the event.
The statement added that the subsequent inter-ministerial committee meeting is anticipated to take place in June 2023 with the objective of finalizing solid partnerships and the participation of various stakeholders.
Marketing is a vital part of any successful business, and the food industry is highly competitive, even to market your product optimally. With so many options available to consumers, it is challenging to stand out from the crowd.
One effective way to differentiate your brand is by using emotions in your marketing. Emotions have a powerful impact on our decision-making, and by tapping into them, you can create a deeper connection with your audience. Over decades, many FMCG and Food Brands in particular have created many television advertisements that held a special place in our hearts.
For example, Me aur meri Maggi campaign has created a sense of emotion that everyone loves maggi. Also further targeting mothers, made them choose maggi for their kids. Similarly, Complan has targeted mothers with multiple nutritious benefits, alongside quick height growth for kids.
Emotions play a crucial role in building customer loyalty towards a food brand. By connecting with customers on an emotional level, food brands can create a deeper sense of loyalty and increase repeat business.
Understanding the emotions associated with your brand is key to creating effective emotional marketing. By identifying the emotions your brand evokes in customers, you can tailor your marketing efforts to better connect with them and foster a sense of loyalty.
This requires understanding your target audience and the values that are important to them, as well as how your brand fits into their lifestyle and aspirations. Emotions such as happiness, excitement, comfort, and nostalgia are common in food marketing and can be leveraged to create a strong emotional connection with customers.
Using Emotions while marketing does more than selling your product. Here are few ways, emotional marketing could help your brand grow in the highly competitive food industry:
1. Building brand awareness: Emotions help create memorable experiences and make a brand stand out from competitors. By associating positive emotions with a food brand, it becomes more memorable and recognizable to consumers.
2. Creating a strong brand image: Emotional connections can create a strong brand image and help consumers develop loyalty towards a brand. By creating positive emotions around a food brand, it can establish itself as a reliable and trustworthy option in the market.
3. Driving sales: Emotional marketing can motivate consumers to make purchases. By evoking emotions like joy, comfort, or excitement, food brands can encourage consumers to buy their products.
4. Differentiating from competitors: Emotional marketing can help food brands differentiate themselves from competitors and create a unique selling point. By leveraging emotions that resonate with their target audience, food brands can create a distinct identity in the market.
5. Generating buzz and social sharing: Emotional marketing can create buzz and encourage social sharing. When consumers feel a strong emotional connection to a food brand, they are more likely to share their experiences with others, leading to increased brand visibility and word-of-mouth marketing.
How to use Emotions in your Marketing? Here is a quick guide with elements that help your positioning of brand to curate right emotions for Marketing the product optimally.
1. Understand Your Audience
The first step in using emotions in your marketing is to understand your audience. Who are they, and what motivates them? What are their values and beliefs? By knowing your audience, you can tailor your messaging to resonate with them emotionally. For example, if your target audience is health-conscious, you might appeal to their desire for a healthy lifestyle by highlighting the nutritional benefits of your food.
2. Identify the Emotions You Want to Evoke
Once you understand your audience, you can begin to identify the emotions you want to evoke. Some common emotions that are effective in food marketing include happiness, nostalgia, comfort, and indulgence. For example, a nostalgic ad featuring a family enjoying a meal together can evoke feelings of warmth and connection. On the other hand, an ad featuring a decadent dessert can evoke feelings of indulgence and pleasure.
3. Use Storytelling
Storytelling is a powerful way to evoke emotions in your marketing. By telling stories that your audience can relate to, you can create a connection with them on a deeper level. For example, you might tell the story of how your family’s recipe for a particular dish has been passed down for generations. This can evoke feelings of tradition and connection to the past.
4. Use Visuals
Visuals are another effective way to evoke emotions in your marketing. A beautiful photograph of your food can make viewers feel hungry and enticed. Similarly, a photograph of a happy family enjoying a meal together can evoke feelings of warmth and connection. Consider investing in high-quality photography and video to showcase your food and tell your brand’s story visually.
5. Be Authentic
Finally, it’s essential to be authentic in your marketing. Consumers are savvy and can quickly tell when a brand is trying to manipulate their emotions. Instead, focus on telling your brand’s story in an authentic way that connects with your audience. For example, if your brand is built on the idea of using locally sourced ingredients, highlight that in your messaging. This can evoke feelings of community and connection to the local area.
Using emotions in marketing your food brand can help to establish a strong emotional connection with your audience and differentiate your brand from competitors. So don’t be afraid to tap into the power of emotions in your food marketing and take your brand to the next level.
The food industry is filled with millions of products in the country and across the world. It is evergreen and the current trend is to maintain a wide range of product offerings to make a prominent space in the households. Today, it has escalated to a highly competitive setting where launching new products in the market has become beyond just finding the formula to make the product.
Marketing and launching a new food product can be a thrilling and challenging process for any food business. A well-executed launch can help generate buzz and excitement around the new product, attract new customers, and drive sales. However, a poorly executed launch can lead to low sales, negative customer feedback, and damage to the business’s reputation.
To ensure that a food product is ready for the market and meets quality standards, food businesses should conduct thorough testing, gather feedback from beta users, evaluate packaging and labelling, determine pricing, and establish a reliable distribution network. These steps will help ensure that the food product is of high quality and ready for a successful launch.
Marketing and launching a new food product involves several key steps to ensure a successful introduction to the market. Some important strategies to consider for food businesses include:
I. Conducting Market Research
Before launching a new food product, it is essential to conduct market research to determine if there is a demand for the product and to identify the target audience. This will help create a marketing plan that effectively reaches the target audience and generates interest in the product. Some key steps in conducting market research include:
Analyzing industry trends and competition
Surveying potential customers to determine interest and demand for the product
Identifying the target audience, including their demographics, needs, and preferences
Understanding how the food product fits into the market and how it can differentiate itself from competitors
II. Develop a Marketing Plan
Once the market research is complete, it is essential to develop a marketing plan that effectively promotes the food product to the target audience. Some key elements of a successful marketing plan for food businesses include:
Identifying key selling points and benefits of the food product
Developing a strong brand identity and messaging
Creating marketing materials, such as packaging, advertising, and social media content
Identifying appropriate marketing channels, such as social media, email marketing, or influencer marketing
Setting goals and tracking metrics to measure the success of the marketing efforts
III. Generate Buzz and Excitement
To generate buzz and excitement around the new food product, it is essential to create a sense of anticipation and exclusivity. Some ways to do this include:
Teasing the launch on social media or the business website
Hosting pre-launch events, such as a product reveal party or a tasting event
Offering early access to the product to select customers or influencers
Creating limited edition or exclusive products that are only available for a limited time
Leveraging influencer marketing to reach a wider audience
IV. Launch the Product
When launching a food product, it is essential to have a clear and concise message that communicates the value and benefits of the product. Some key steps in launching the food product include:
Ensuring the food product is ready for market and meets all quality standards
Announcing the launch through multiple channels, such as social media, email marketing, and press releases
Offering special promotions or discounts to incentivize customers to purchase
Tracking metrics, such as sales and customer feedback, to measure the success of the launch
Continuing to promote and market the food product after the launch to maintain momentum and generate ongoing sales.
V. Gather Feedback and Refine the Strategy
After launching the food product, it is essential to gather customer feedback and make adjustments to the marketing strategy as needed. Some ways to gather feedback include:
Sending customer surveys to gather feedback on the food product and launch
Monitoring social media and online reviews for customer feedback
Conducting A/B testing on different marketing materials or channels to determine which is most effective
Refining the marketing strategy based on customer feedback and sales metrics.
Gathering customer feedback is crucial to ensure that the product is meeting customer needs and expectations. Surveys can be sent via email or included in the packaging of the product to encourage customers to provide feedback. Social media and online reviews can also provide valuable insights into how customers are responding to the product and the launch.
A/B testing can be used to determine which marketing materials or channels are most effective in reaching and engaging with your target audience. This involves testing two different versions of a marketing message or material and measuring which one generates a higher response rate or conversion rate.
Based on customer feedback and sales metrics, businesses can refine their marketing strategy to improve the product launch and ongoing promotion of the product. This may involve adjusting messaging, targeting different audiences, or using different marketing channels.
LT Foods, an Indian company renowned for selling Daawat basmati rice, reported an impressive 79% surge in quarterly profit. This remarkable growth can be attributed to the strong demand for its packaged rice and favorable export prices.
In the quarter ending March 31, the rice producer experienced a significant surge in consolidated net profit. The figure rose to 1.28 billion rupees ($15.65 million), marking a substantial increase from the previous year’s 715.1 million rupees.
According to an exchange filing, the company reported a 31.26% growth in the number of households consuming its products, reaching 4.5 million by the end of the fiscal year 2023.
With a global reach, LT Foods exports its rice to over 60 countries, encompassing regions like the United States, Europe, the Middle East, and the Far East.
The surge in profit is attributed to the increase in prices of Indian rice exports, which reached a nearly two-year high by the end of February. Importers showed a preference for the Indian variety over pricier alternatives from hubs such as Thailand and Vietnam.
In the fourth quarter, the company witnessed a significant boost in consolidated revenue from operations, with a growth of over 19% to 18.21 billion rupees. This increase was primarily driven by a remarkable 30% year-on-year growth in the company’s basmati and other specialty segment.
Ashwani Arora, Managing Director and CEO, said, “Our India volume market share continues to increase and currently stands at 29.6% (annually).”
India, the largest global exporter of rice, achieved record-breaking numbers in the shipment of domestically produced rice in 2022, despite government restrictions on overseas sales.
Following the release of the results, shares of LT Foods experienced a 3.7% increase.
Dunzo, a Bengaluru-based hyperlocal and q-commerce brand in India, has recently introduced “Project Swabhimaan.” This initiative offers financial literacy training to Dunzo’s delivery partners and store pickers in partnership with Parinaam Foundation, a non-profit organization focused on urban low-income communities.
According to a statement from the start-up, women participating in the training will gain access to valuable information enabling them to make informed financial decisions. This will positively impact their long-term financial well-being, regardless of their association with Dunzo.
Dunzo aims to train over 100 women this year, and their objective is to eventually make this training an essential part of onboarding for all their partners.
Dunzo asserts that individuals employed in the informal sector or working as independent workers lack the same level of support and guidance regarding financial literacy and inclusion compared to those in the private sector. According to Dunzo, their training program in collaboration with Parinaam Foundation is a significant stride toward fostering financial inclusion among gig economy workers. Since 2012, Parinaam Foundation has certified 927,005 beneficiaries as Rupee Rani (Women).
Ankit Shah, AVP of City and Supply Operations, Dunzo, said, “At Dunzo, we prioritise the overall well-being of our women delivery partners and store executives. This is a learning of a lifetime that will truly benefit them. Financial literacy is a life skill and we don’t pay as much attention to it as we should. We wanted to do something that has a direct impact on the earnings of our women delivery partners. One is to offer fair wages, which we do. The other is to give them the understanding needed to create a habit of saving and growing their wealth. We’ve started with training about 35 women, which is close to 10% of our women partner network.”
Dunzo, launched in 2015, is a convenience app that connects customers with nearby delivery partners. It facilitates purchases and pickups from stores and restaurants, and has expanded to include Dunzo Daily for online grocery ordering and Dunzo for Business for merchants. Operating in eight cities currently, Dunzo aims to expand its reach even further.
The decade of 2020s is marching towards sustainability in every aspect. In today’s world, consumers have become increasingly conscious of the impact that their food choices have on the environment. Sustainability for a food brand has become the brand’s ability to operate in a way that minimizes its environmental impact, supports social responsibility, and ensures long-term economic viability.
It can create long-term value by future-proofing the business and positioning it for success in a world where sustainability is increasingly important. Sustainability enhances a food brand by improving its image, attracting customers, increasing efficiency, and creating long-term value.
It is becoming increasingly important to consumers who are more aware of the environmental impact of their purchasing decisions. Many consumers are actively seeking out products and brands that prioritize sustainability, and are willing to pay a premium for them. Therefore, by adopting sustainable practices, a food brand can attract these consumers and build a loyal customer base.
Some of the popular sustainable practices in the food industry are as follow:
1. Sustainable sourcing of ingredients: This involves sourcing ingredients that are grown and harvested in a way that is environmentally responsible and socially ethical. For example, brands can source ingredients from farmers who use regenerative agriculture practices or from Fair Trade-certified sources.
2. Reduction of waste and carbon footprint: This involves implementing strategies to reduce waste and carbon emissions across the brand’s operations, such as using sustainable packaging, reducing food waste, and optimizing energy use.
3. Support for local communities: This involves working with local farmers and suppliers, supporting local economies, and contributing to community development.
4. Ethical labour practices: This involves treating employees fairly and ethically, providing safe and healthy working conditions, and paying a living wage.
5. Transparency and accountability: This involves being transparent about the brand’s practices and impacts, and holding itself accountable for its sustainability commitments.
Sustainability for a food brand involves operating in a way that is socially and environmentally responsible, while also ensuring long-term economic viability. By prioritizing sustainability, food brands can build a positive reputation, attract and retain customers, and create long-term value for their businesses.
Sustainability is important for a food brand’s perception because it can improve its image, differentiate it from competitors, improve efficiency, and future-proof the business. It has become a significant factor in how food brands are perceived by their audience.
Here are ten ways that sustainability can enhance your food brand perception and promote you in your audience’s minds:
1. Builds Trust
Sustainability shows that your brand cares about the environment and that you’re committed to making a positive impact. By adopting sustainable practices, you demonstrate that you’re a responsible business owner, which builds trust with your audience.
2. Increases Credibility
Consumers are becoming more aware of greenwashing, which is the practice of companies making false claims about their sustainability practices. By adopting sustainable practices and being transparent about them, you increase your credibility with your audience and avoid the appearance of greenwashing.
3. Attracts Millennial and Gen Z Consumers
Millennial and Gen Z consumers are more likely to choose brands that align with their values, and sustainability is a significant value for these generations. By demonstrating your commitment to sustainability, you attract these valuable demographic groups to your brand.
4. Differentiates Your Brand
In a crowded marketplace, you must differentiate your brand from your competitors. Sustainability is an excellent way to set your brand apart and stand out positively.
5. Increases Sales
Consumers are willing to pay more for sustainable products, and they’re more likely to become loyal customers of brands that prioritize sustainability. By adopting sustainable practices, you increase the likelihood that consumers will choose your brand over your competitors, which can lead to increased sales.
6. Attracts Corporate Clients
Sustainability is increasingly important to corporate clients, who are looking for suppliers and partners that share their commitment to sustainability. By demonstrating your sustainability practices, you increase your appeal to corporate clients and open up new business opportunities.
7. Improves Supply Chain Efficiency
Sustainability often involves reducing waste and optimising resource use, which can improve your supply chain efficiency and reduce your costs. By adopting sustainable practices, you can become a more efficient and profitable business.
8. Enhances Employee Engagement
Sustainability can be a powerful tool for engaging and motivating employees. By involving your employees in sustainability initiatives, you can boost morale and create a sense of pride in your brand.
9. Improves Reputation
Sustainability can improve your brand reputation and help you build a positive image in your community. By demonstrating your commitment to sustainability, you show that you’re a responsible and caring business that’s invested in making a positive impact.
10. Creates Long-Term Value
Sustainability is not just a trend; it’s a long-term approach to doing business that creates lasting value. By adopting sustainable practices, you future-proof your business and position it for long-term success.
Sustainability is an essential aspect of how food brands are perceived by their audience. If you’re not already prioritizing sustainability, it’s time to start.
Bisleri, India’s popular packaged drinking water brand, has signed a three-year agreement with Procam International, solidifying its position as the official hydration partner. As part of Bisleri’s #CarryYourGame campaign, this partnership will associate the brand with Procam International’s global distance running events for the next three years. This collaboration puts Bisleri in charge of promoting optimal human performance through hydration.
Procam International, a leading organizer of races in India, operates in Mumbai, New Delhi, Bengaluru, and Kolkata. In collaboration with Bisleri, they will introduce limited edition bottles featuring past marathon winners and acclaimed athletes. The partnership includes the provision of Hydration Stations, Mist Zones for runner cooling, and a prominent digital presence on the race track.
Tushar Malhotra, the Head of Marketing at Bisleri International Pvt. Ltd, commented on the partnership saying, “Our alliance with Procam International is a natural extension of our new campaign – #CarryYourGame. The key objective here is to deepen the link between Bisleri, hydration, and sports, and to inspire our consumers to maintain a fit and healthy lifestyle as they ‘carry their game’ in all life’s aspects.”
Vivek Singh, JT. MD, Procam International, also shared his enthusiasm for the partnership, “We are thrilled to have Bisleri as our Official Hydration partner for the next three years. This association aligns perfectly with the fact that optimal hydration is crucial for any athlete or amateur to perform. We look forward to sustaining our long-standing relationship and fostering strong rapport within our distance running community.”
Beyond running, the #CarryYourGame campaign expands Bisleri’s partnership to popular cricket franchises like Mumbai Indians, Gujrat Titans, Delhi Capitals, and Rajasthan Royals for the ongoing cricket season. This collaboration highlights the interplay between hydration and performance, emphasizing the pivotal role of water in attaining peak human potential. By encouraging everyday fitness enthusiasts to ‘Carry their Game’ with a 500ml Bisleri bottle, the campaign promotes an active and healthy lifestyle.
Last year, USL sold 32 brands, including Haywards, Old Tavern, and White-Mischief, to Inbrew for INR 828 crore.(Representative Image)
United Spirits Ltd (USL), India’s largest liquor company, reported a 7.3% rise in net profit for the fourth quarter ending in March, with revenue declining by 25% to INR 5,783 crore. The company’s profit after tax stood at INR 204 crore.
After adjusting for the Pioneer Distilleries merger, slump sale, and franchising of the reviewed popular portfolio, the company stated that the performance remained strong for a like-for-like comparison.
Excluding the impact of slump sale and franchising of mass brands from a year ago, net sales in the fourth quarter grew by 15.6%. The prestige and above segment saw a remarkable growth of 23.2%, whereas the rebased net sales for the popular segment declined by 6.3% due to ongoing inflation affecting the price-sensitive consumer segment.
Hina Nagarajan, Managing Director at Diageo owned USL said, “We have delivered a strong year once again with robust top-line growth and resilient operating margins in an extremely volatile and inflationary environment. As an organization, we have exhibited tenacity and focus amidst macro-economic headwinds and regulatory challenges.”
After accounting for a one-off credit resulting from the reversal of indirect tax provisions, the underlying gross margin stood at 42.6%. This represents a decrease of 225 basis points compared to the previous year but shows sequential improvement.
According to industry executives citing the latest excise department data, the spirits market in the country witnessed a sales volume of 395 million cases during the year ending in March. This reflects a significant 12% increase compared to the previous fiscal year (FY21-22) and an addition of nearly 40 million cases since its previous peak approximately four years ago.
USL’s net sales for the fiscal year ending in March grew by 19.5%, with underlying net sales volume increasing by 20.1%. This growth was driven by a strong premiumization trend, continued momentum in off-trade sales, recovery in on-premise sales, and sustained home consumption trends.
“The stepped up contribution in growth from the upper and mid prestige segments lend credence to our portfolio reshape strategy,” added Nagarajan.
Last year, USL sold 32 brands, including Haywards, Old Tavern, and White-Mischief, to Inbrew for INR 828 crore. They also established a five-year franchise arrangement for 11 other brands, such as Bagpiper and Blue Riband. Inbrew, headquartered in Singapore, has the right to convert the fixed-term franchise agreement into a perpetual rights agreement and has the option to acquire the brands through a call option.
Over the past six years, USL has adopted a franchisee model in the popular segment, implementing fixed-fee arrangements in multiple states. This strategic shift has led to an expansion of margins. Currently, the company’s P&A (Premium and Above) business constitutes 87% of its overall sales, a substantial increase from less than 50% six years ago. This shift underscores USL’s strong focus on the premium segments.
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