Chunk Foods offers its plant-based steak alternatives at various restaurants in New York City and Los Angeles, such as Coletta, Anixi, and The Butcher's Daughter.
Chunk Foods, an emerging Israeli firm that specializes in producing plant-based whole cuts, has secured $15 million in Series A financing.
Fall Line Capital, an initial investor in the US-based plant-based meat company Impossible Foods, spearheaded the funding round.
The MIT E14 fund and Footprint Coalition Ventures, led by Robert Downey Jr., were among the other investors who participated in the funding round.
To develop its plant-based whole-cut meat products using fermentation, Chunk Foods initially raised $2 million in a pre-seed round. The company is now utilizing the new funds to build “one of the largest factories for plant-based whole cuts globally.”
The company’s upcoming facility is slated to be finished by this summer, with the ability to produce “millions of steaks” each year.
“At a time in which consumers are driven by health and well-being in their food choices, while still demanding great taste, we are committed to meeting their rising expectations and revolutionising eating habits,” Chunk Foods CEO Amos Golan said. “We are humbled to have the support of top-tier investors who share our vision of creating a new and delicious centre-of-plate standout that is sustainable, nutritious, and accessible to everyone.”
Chunk Foods offers its plant-based steak alternatives at various restaurants in New York City and Los Angeles, such as Coletta, Anixi, and The Butcher’s Daughter.
“Their innovative approach to creating plant-based meat products with exceptional texture and taste while maintaining a clean label is impressive,” Fall Line Capital MD Eric O’Brien said. “Moreover, their ability to provide them at affordable prices offers a unique opportunity to address the gaps in the plant-based market, which has often been criticized for its high costs, overly processed options, and lacklustre taste.”
J.'s design philosophy embodies the bold and vibrant essence of both Gen Z and its current customer base.
Xotik Frujus (XFPL), a beverage company headquartered in Mumbai, has revealed its plan to rebrand and reposition its renowned jeera brand, Jeeru, as ‘J.’ The move is aimed at gaining a greater stake in India’s ethnic beverage market.
J.’s design philosophy embodies the bold and vibrant essence of both Gen Z and its current customer base. By incorporating six distinct Indian colors into its packaging, the brand takes a modern approach, using clean, bold shapes that have yet to be seen in the beverage industry. The striking minimalism of its form contrasts with its maximalist color scheme, making J. an eye-catching presence on store shelves.
J. strives to stand out in the crowded beverage market and appeal to the new generation of young, ambitious Indians who are deeply connected to their cultural roots while aspiring to achieve global success. To achieve this, the brand aims to disrupt the existing paradigm. J. retains its familiar beverage flavor while elevating it with the added goodness of apples. It is bottled with a bold, Indian attitude that embodies the readiness to face tomorrow.
Anjana Ghosh, Chief Executive Officer, Xotik Frujus, said, “With J. we wish to completely reinvent the popular jeera masala drink with new age looks and an attitudinal connect with the global India Gen Z or young Indians. With changing consumer habits, experimenting attitude of the Indian consumers today, the new design and vibrant 6 colors are aimed at creating higher brand recall with a sharper identity amongst New India. Our consumer insight behind this positioning showcases hustling and ambition, empathy, digital nativity, self-expression and creativity being at the core of the youth of India today. These attributes have been instilled interestingly in our creative campaign and brand packaging covering myriad colors which will be seen 1st time for any beverage brand in India. The marketing campaign will include strong digital led communications to on-ground activations driving trials for J. for the newest masala-soda on the block. Like Jeeru had attained leadership in the category, we hope that in its new avatar, J. will connect with consumers better.”
The essence of the design for J.
J.’s design philosophy embodies the bold and colorful essence of Gen Z. By using Indian colors and pairing them with clean, bold shapes, the brand gives them a modern twist. The striking minimalism of its form contrasts with its maximalist color scheme, making J. a head-turner wherever it’s seen.
The new positioning as J.
Xotik has gained recognition for its innovative ethnic beverages that add a twist of masala to traditional flavors. As the demand for unique and unconventional flavors and spices grows, Xotik has created an “avant-garde” experience for a new target audience with J. The complete rebranding aims to transform J. into an aspirational and trendy drink that better connects with the youth in this season. It’s a first-of-its-kind brand named after a single letter – a deliberate decision that reflects the unconventional approach of Gen Z. The name J. transcends language, space, and place, as it’s a deliberately abbreviated sound that is whole on its own while also signifying the beginning of something more to come.
An aggressive marketing push for J.
Xotik has developed a comprehensive year-long plan consisting of multiple campaigns, trials, and activities to enhance brand visibility and raise awareness for J. The plan includes aggressive out-of-home (OOH) campaigns, print and other on-ground activations, and the introduction of new innovations and ethnic products, all of which will be supported by digital and social media activation. Additionally, consumer engagement with brand collaborations will be used to create high-value brand visibility and awareness. The company is set to invest approximately 20 crore in various marketing activities.
Indian ethnic beverage category:
The ethnic beverage market in India is projected to be valued between 700-800 crores. In line with this growth potential, Xotik has announced a strategic roadmap that includes expanding their state-of-the-art production units, introducing new flavors of both carbonated and non-carbonated drinks, and expanding their market reach from 780 towns to 3000 across tier 1, 2, and 3 cities by 2026. With their new product repositioning, they have identified multiple manufacturing units across West, East, North, and South India, and plan to add 400 super stockists and 3000 distributors nationwide by 2026. Under new leadership, Xotik has set an ambitious goal of becoming a 1000 crore company within the next decade. They aim to achieve 50-60% year-on-year growth for the next three years, with a target of reaching 500 crores by the end of FY ’26.
The Hot Toddy brand presents a selection of five sauces that take inspiration from various spices and chilies worldwide.
Sarah Todd, a well-known Celebrity Chef, has recently introduced her brand “Hot Toddy” sauce in India. The sauce is made from fresh ingredients, with more than 70% of them sourced locally from Australia and manufactured in Queensland.
The Hot Toddy brand presents a selection of five sauces that take inspiration from various spices and chilies worldwide. The collection features a range of flavors, from mild to extremely spicy, including the Kashmiri Tomato and Birdseye Chilli, which draw inspiration from Indian cuisine. Additionally, the collection comprises Sweet Chilli from Thailand, 7-Spice Sriracha from Japan, and Birdseye Chilli from Australia, offering a diverse range of tastes to suit different preferences.
The story of Hot Toddy is a tale of humble beginnings from Queensland, as Sarah Todd reveals, “It all started with a viral social media post. A close friend shared his experience of using my chilli sauce in one of his dishes, and from there, my inbox was flooded with requests for the sauce. This led to my brother and me launching Hot Toddy, and I drew inspiration from my travels and interactions with various cultures to create these exquisite flavours.”
Speaking about her engagement with India, Sarah Todd, said, “India’s cuisine diversity is unparalleled and has a special place in my heart. I feel grateful for the immense love and support that I have received from the people of India throughout my culinary journey. Given my attachment to the country, it is only natural for me to launch, Hot Toddy, here in India.”
The Economic Cooperation and Trade Agreement (ECTA) between Australia and India has opened up new opportunities for Queensland in one of the world’s fastest-growing markets, which comprises nearly one and a half billion people. As Queensland’s second-largest goods export market and fourth-largest two-way trading partner, India is a vital market for the state’s businesses. Hot Toddy, with its fine sauces carefully crafted and manufactured in Yadala, Queensland, is a prime example of this, as the export of Hot Toddy sauces to India further strengthens the trade and investment ties between the two regions.
Commenting on the launch in India, Abhinav Bhatia, Senior Trade and Investment Commissioner-South Asia, Trade and Investment Queensland, said, “Queensland already accounts for over 60% of all Australian exports to India, and with businesses like Hot Toddy coming to the market, this number is set to grow higher. As the Queensland government’s premier international trade and investment promotion agency, we support businesses on both sides to access and develop this corridor. Sarah Todd’s launch of Hot Toddy further strengthens her strong relationship with India, and I anticipate that it will inspire more culinary businesses from Queensland to venture into the Indian market.”
The premium range of Hot Toddy Sauces will exclusively be sold in India by Olympia Industries Ltd. Speaking about Olympia’s association with Hot Toddy and Sarah Todd, Anurag Pansari, Director, Olympia Industries, said, “Collaborating with India’s adored culinary icon, Sarah Todd, who is also one of the world’s most renowned chefs, is a source of immense excitement for us. Through her premium line of Hot Toddy sauces, we aim to offer consumers a taste of the diverse culinary traditions that Sarah has encountered and crafted throughout her illustrious career.”
The Hot Toddy sauces can now be purchased on various e-commerce platforms, and in the coming months, they will also be made available through other distribution channels such as modern trade, major retail brands, and HoReCa.
On Friday, the FSSAI, the food regulator, revealed that it has detected 32 fresh cases of food business operators (FBOs) who have allegedly made false or misleading claims in their advertisements.
The FSSAI has taken action by referring the matter to the relevant licensing authorities, who will now issue notices to the FBOs in question. The notices will require the FBOs to either withdraw their misleading claims or provide scientific evidence to substantiate them.
Among the FBOs identified by the FSSAI for violating regulations related to misleading claims are manufacturers and/or marketers of nutraceutical products, refined oils, pulses, flours, millet products, ghee, and other food items.
“In order to keep a close tab on the claims and advertisements being made by the FBOs on their products, Advertisement Monitoring Committee of FSSAI has reported 32 fresh cases which have been found prima facie in contravention of the provisions of Food Safety and Standards (Advertisements & Claims) Regulations, 2018,” the regulator said in a statement.
The regulations prohibit the use of deceptive claims or advertisements, and violations of these rules are considered punishable offences under Section 53 of the FSS Act, 2006.
During the scrutiny, a wide range of food products were examined, including health supplements, organic products, fast-moving consumer goods (FMCG) products, and staples. The FSSAI identified a variety of false or misleading claims related to health, product quality, and other aspects of the products.
“For further action, including the issuance of notices to the concerned FBOs, the same has been referred to the concerned Licensing Authorities for issuance of notices to all such FBOs for withdrawing the misleading claims or scientifically substantiate the same,” the statement said.
If the FBOs fail to provide a satisfactory response to the notices issued by the licensing authorities, they will be required to either withdraw their misleading claims or modify them in accordance with the regulations. Failure to comply can result in penalties of up to INR 10 lakh, as outlined in Section 53 of the Food Safety and Standards Act 2006. Moreover, in the event of repeated offences, the FBOs could face even more severe punishments such as suspension or cancellation of their license.
“The total number of such cases of reported misleading advertisements and claims during last six months has gone up to 170 cases, and the action against such delinquent FBOs shall also continue in future,” the FSSAI said.
The FSSAI has urged all FBOs to strictly comply with the regulations laid out in the Food Safety and Standards (Advertisements & Claims) Regulations, 2018. The regulator has also cautioned FBOs against making any unscientific or exaggerated claims in their advertisements, as doing so could lead to enforcement actions. The FSSAI’s advice to the FBOs is to refrain from such misleading advertising tactics and promote their products in a truthful and transparent manner.
The construction of the new plant is estimated to take 16 months and is projected to commence in the first half of 2024. (Representative Image)
Westland Milk Products, a dairy company based in New Zealand, has obtained a NZ$70 million (approximately $43 million) investment to construct a new facility for the production of bioactive dairy products.
Westland’s parent company, the Yili Group, provided the funding for the investment, which will be utilized to establish a new lactoferrin plant at Westland’s Hokitika site.
Lactoferrin, a milk protein, is experiencing a rise in global demand due to its reported health benefits in various nutritional categories.
Westland stated that the funding will increase the production capacity of the Hokitika site’s multifunctional protein by more than three times.
Westland Resident Director, Zhiqiang Li, said, “Westland is the only New Zealand commercial manufacturer of bovine colostrum powder, and this move will place us in the top three leading global companies in the lactoferrin category, with a market share of approximately 10%”.
Westland’s CEO, Richard Wyeth, added, “We cannot improve on the incredible quality of the natural product our farmers produce day after day, but we can ensure that we extract maximum value for that product, and our lactoferrin strategy is a critical part of that”.
He continued, “Our bioactive ingredients innovation pipeline is well advanced, and we’re excited to be a step closer to bringing these concepts to commercialisation”.
According to Westland, the addition of spray-dried lactoferrin – in combination with the company’s freeze-dried lactoferrin range – will position the dairy company as “one of the only lactoferrin manufacturers in the world capable of producing both formats on the one site”.
The construction of the new plant is estimated to take 16 months and is projected to commence in the first half of 2024.
By launching these 24X7 stores, Tata Starbucks reaffirms its long-term dedication to one of the fastest-growing Starbucks markets worldwide. (Representative Image)
Coffeehouse chain Starbucks has launched its India’s first beachfront outlet, located at South Beach Road, Valiyangadi, Kozhikode, according to the company’s social media announcement today. This move marks Starbucks’ expansion into a new market and provides customers with a unique coffee experience by the beach.
“For those moonlit walks on the Kozhikode beach, your favorite Starbucks is now available 24/7 at Calicut from 28 April,” said the coffee chain on its Instagram page.
In October 2020, Starbucks inaugurated its first outlet in Kerala at Lulu Mall, Kochi. Following this, the company launched its first outlet in Kozhikode at Hilite Mall in June 2022.
According to the brand, this Starbucks outlet in Kozhikode is the first to operate 24/7. Although most Starbucks locations are open from early morning until late at night, only a few remain open round the clock, typically in metropolitan cities, near airports, shopping areas, and busy city centers.
Starbucks recently inaugurated its first 24/7 outlet in Chennai, with a Chettinadu theme. This cuisine originates from the Nattukotai Chettiars community in the Chettinad region of Tamil Nadu and is renowned for its use of a wide range of spices and dishes prepared with freshly ground masalas.
In October 2012, Starbucks Corporation made its entry into the Indian market by opening its first store in Mumbai. The Seattle-based coffee giant partnered with Tata Global Beverages to establish a 50:50 joint venture known as Tata Starbucks Pvt. Ltd., which manages all Starbucks outlets in India.
ScrapeHero, a data company, reports that Starbucks has established over 338 stores in more than 35 cities throughout India. Maharashtra has the highest number of Starbucks locations, with over 105 stores, accounting for about 34% of all Starbucks stores in the country.
On March 20, 2023, Laxman Narasimhan succeeded Howard Schultz, the Founder and Former CEO, as the new CEO of Starbucks.
Boundless Brands aims to bring over 1,000 third-party F&B brands onto its platform within the next two years
Boundless Brands, an ecommerce enabler, has received $2.5 million in seed funding from a group of angel investors in the United States and India.
The startup intends to allocate $1 million towards constructing its ecommerce platform, $500K towards developing beverage products, and the remaining $1 million towards marketing, sales partnerships, and social media.
In addition, Boundless Brands aims to bring over 1,000 third-party F&B brands onto its platform within the next two years.
Boundless Brands was established in 2023 by Sandeep Agarwal, the Founder of Droom and ShopClues, and Nagendra Shukla, a veteran of Silicon Valley. It is a comprehensive ecommerce platform that provides technology, cataloging, digital marketing, payment, fulfillment, and customer support services to food and beverage (F&B) brands.
According to the startup, it aims to introduce several beverage products targeting the millennial and GenZ demographics in India, who constitute more than 50% of the $100 billion F&B market in the country.
Nagendra Shukla, Cofounder and CEO of Boundless Brands, said, “We are not only building our portfolio of beverages but also offering a full-stack e-commerce platform and managed services for the F&B industry. Building this company with Sandeep as founding mentor will help us to tap into his impeccable track record in e-commerce and marketplaces.”
Prior to Co-founding Boundless Brands, Nagendra had a 23-year stint in Silicon Valley where he was a two-time Entrepreneur and held leadership positions in technology at Sephora, HP, Intuit, and McAfee. At Boundless, Nagendra will lead the brand and marketing strategy and collaborate with the team to identify suitable partners for manufacturing, flavor development, logistics, and fulfillment.
Meanwhile, Sandeep Agarwal will be responsible for driving the company’s strategy and providing mentorship to the team, without holding any executive position within the organization.
“Boundless is a platform play with an ecosystem of services around it and it will allow 3rd party brands in F&B to focus on their core competencies of product or brand building and let Boundless handle the e-commerce value chain,” Sandeep Aggarwal said.
The startup is currently headquartered in Gurugram and has 18 employees working on its operations.
In the past year, GoKwik, an ecommerce enabler startup, secured $35 million in funding, while Tiger Global made its first seed fund investment in Shopflo. Additionally, CommerceIQ, another startup, raised $115 million, reaching a unicorn valuation last year.
According to a report by IBEF, India’s ecommerce market was estimated to be worth $46.2 billion in 2020. The sector is projected to reach a value of $350 billion by 2030.
Swiggy, an online food delivery platform, has recently implemented a “platform fee” of INR 2 per food order for all users, regardless of the total value of the order.
The company clarified to reporters that the additional charges are exclusive to food orders placed on the main platform and do not extend to Instamart users.
“The platform fee is a nominal flat fee charged on food orders. This fee helps us operate and improve our platform and enhance app features to deliver a seamless app experience,” a Swiggy spokesperson said in a statement.
In addition to the convenience and handling fees for food delivery, the platform fee is an additional charge.
According to the latest report, Swiggy has claimed to process between 1.5 to 2 million orders throughout the day.
During the holy month of Ramzan, residents of Hyderabad ordered an astonishing 1 million biryanis and 400,000 plates of haleem via the popular food-delivery platform Swiggy.
The online food delivery platform announced in March that it had delivered 33 million plates of idlis in the preceding 12 months, demonstrating the dish’s immense popularity among customers.
The cities of Bengaluru, Hyderabad, and Chennai were the top three locations where idlis were ordered the most.
On average, the company has more than 250,000 restaurant partners registered on its platform, and it usually adds around 10,000 restaurants each month.
In the wake of the pandemic, customer service and improved experiences have become a top priority, leading to a significant increase in demand for job opportunities in the hospitality sector.(Representative Image)
According to Indeed, a leading global job site, the hospitality sector has experienced a significant surge in job openings between March 2022 and March 2023. Job postings in this industry have grown by approximately 60%, while job seekers have shown a 20.10% increase in interest, as evidenced by clicks on the platform. This data suggests that career opportunities in the hospitality sector are currently thriving.
The hospitality industry in Delhi-NCR has witnessed the highest surge in job postings over the past year, with a remarkable 20.37% increase. Mumbai and Bengaluru follow close behind. The post-pandemic scenario has led to a restlessness among people, prompting them to venture out of their homes. As things slowly return to normal, leisure travel has seen a notable upswing, particularly with families planning summer vacations and long weekend trips. The rise in interstate travel has resulted in a growing demand for job opportunities in the hospitality sector.
Commenting on the research report, Saumitra Chand – Career Expert, Indeed India and Singapore, said, “The hospitality sector was perhaps one of the most affected industries since the wake of the pandemic. The growth trajectory of this field has truly been impressive as it continues to grow at a rapid pace, with travel and tourism thriving again. During the second wave of the pandemic, change in jobs during the period of March 2020 to 2021 limboed at -13.80 percent. However, from March 2022 to 2023, change in jobs has sprouted to a staggering 59.50 percent. We remain optimistic about this growth, especially as local and domestic tourism continue to be attractive destinations.”
In the wake of the pandemic, customer service and improved experiences have become a top priority, leading to a significant increase in demand for job opportunities in the hospitality sector. With domestic tourism on the rise, Hotel Manager and Travel Consultant have emerged as the most sought-after roles, closely followed by Resort Manager, Hospitality Manager, and Travel Agent. These positions present lucrative career paths for professionals in the hospitality industry, underscoring the sector’s growth and potential.
On Thursday, Domino’s Pizza Inc cautioned about a slowdown in its delivery business, citing a shift in consumer behavior towards cooking at home rather than ordering in. This news caused a 6 percent drop in the company’s shares, offsetting the better-than-expected first-quarter results.
As inflation levels have risen, consumers’ disposable income has been stretched thin, making them more cautious about spending on expensive food items and increased delivery fees.
The cost of cheese, meat, fuel, and labor has been rising, impacting restaurant chains including McDonald’s Corp and Chipotle Mexican Grill Inc. To safeguard its profit margins, Domino’s Pizza Inc has increased menu prices and delivery charges.
To appeal to consumers feeling the pinch of inflation, the pizza chain has reintroduced the USD 3 Carryout Tips promotion. Under this offer, customers who place a carry-out order of USD 5 or more will receive a USD 3 promo that can be redeemed towards another carry-out order.
During an earnings call, Domino’s Chief Financial Officer Sandeep Reddy reported that the carry-out business was performing well, with the new menu item “Loaded Tots” seeing higher sales.
Reddy also mentioned that there was a shift in demand from delivery to in-restaurant dining, indicating that more customers were returning to dine-in at restaurants.
Siye Desta, an analyst at CFRA Research, stated that consumer spending patterns would return to normal, with pizza delivery orders expected to contribute to the overall sales growth.
According to Refinitiv data, same-store sales at Domino’s, the largest pizza chain globally, increased by 3.6% in the first quarter, surpassing analysts’ estimated growth of 1.96%.
The company’s adjusted earnings per share stood at USD 2.93, exceeding the estimated USD 2.73. However, despite a 1.3% increase in total revenue to USD 1.02 billion, the figures fell short of estimates of USD 1.04 billion due to the impact of a strong dollar.
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