From Dark Stores to Dark Days: Zepto Loses VP Jitendra Bagga and HR Head Martin Gomez
Zepto’s Vice President of Central Operations, Jitendra Bagga, has stepped down after a nine-month tenure, marking the second high-profile resignation at the quick commerce company within a month.
Bagga, who oversaw key warehousing operations including mother hubs (MH) and line haul (LH) projects, joined Zepto in April 2024. Before his stint at Zepto, he spent over two decades at Reliance Retail and three years at Raymond Limited.
Company Confirms Departure
The company has confirmed his departure and stated that there are currently no plans to appoint a replacement. This exit follows closely on the heels of another top-level resignation earlier this month, when Zepto’s Chief Human Resources Officer, Martin Dinesh Gomez, resigned after an 11-month tenure.
The timing of these departures coincides with Zepto’s ongoing transition of its headquarters from Mumbai to Bengaluru. As competition intensifies in the quick commerce space, Zepto, which operates over 550 dark stores, is not only working to expand its presence but is also planning an IPO in 2025.
This year has seen a series of notable exits from Zepto, including Viral Jhaveri, former Chief Business Officer/Chief Growth Officer, Ashish Shah, Senior Vice President of Finance, and Manik Oberoi, Vice President of Growth and Retention.
Zepto and Instamart: Condoms and Kurkure Dominate Late-Night Orders in 2024
Sexual wellness products, including condoms, are becoming a hot commodity in India’s quick commerce market, as revealed by Swiggy Instamart in a recent report.
These items are now flying off the virtual shelves at a pace that rivals the sales of everyday staples like milk and curd.
Evolution in Indian Shopping Habits
According to Swiggy Instamart’s latest data, “1 in every 140 orders contained a sexual wellness product.” This marks a significant shift in consumer behavior, with these items holding their own alongside kitchen essentials like dosa batter, chips, and soft drinks, which remain the platform’s most-ordered products.
Interestingly, the data highlights a notable evolution in Indian shopping habits, showing a move beyond just traditional staples. Bengaluru led the charge in the sale of sexual wellness products, earning the title of top spender on condoms in 2024.
Late-Night Shopping Trends
The report also uncovered a surge in late-night orders, with the peak activity occurring between 10 PM and 11 PM. Popular items during this hour included masala-flavored chips, Kurkure, and flavored condoms, painting a vivid picture of India’s nocturnal shopping preferences. When it comes to these midnight splurges, cities like Delhi, Hyderabad, and Bengaluru stood out for their high activity.
Delhi and Dehradun topped the charts for overall spending on Swiggy Instamart in 2024, with staples like flour, milk, and oil dominating their shopping lists. Meanwhile, an individual in Mumbai grabbed attention with an extraordinary purchase spree, spending a whopping ₹15 lakh on pet products, primarily cat and dog food.
NK Proteins Targets Double-Digit Growth Amid Rising Demand for Cottonseed Oil
The Indian edible oil market is witnessing a surge in demand for cottonseed oil, and NK Proteins Private Limited, the maker of Tirupati Edible Oils, is gearing up to capitalize on this trend. The company aims to achieve double-digit growth by 2025, driven by its focus on quality, innovation, and expanding its reach across emerging markets.
“My passion for this industry stems from its deep connection to Indian households, where edible oils are an essential part of life,” says Priyam Patel, Managing Director of NK Proteins. Under his leadership, the company has built a strong presence, reaching over 10 million households through its flagship brand, Tirupati Edible Oils.
Cottonseed Oil: A Game-Changer
Cottonseed oil has emerged as a key growth driver for NK Proteins, thanks to its affordability, nutritional benefits, and versatility in Indian kitchens. “Consumers are increasingly recognising its health benefits, including its richness in tocopherols and heart-friendly polyunsaturated fats,” Patel explains. The company’s focus on educating consumers about these benefits has positioned Tirupati Edible Oils as a trusted choice in the market.
Emerging markets such as Gujarat, Rajasthan, Maharashtra, Madhya Pradesh, and northern India are showing significant growth potential. “Tier-2 and tier-3 cities are driving demand for cottonseed oil, especially among health-conscious and price-sensitive consumers,” Patel adds.
Commitment to Quality and Innovation
Quality has been a cornerstone of Tirupati Edible Oils’ success. “We have invested heavily in advanced refining technologies and stringent quality checks to ensure our oils meet global standards,” says Patel. The company’s emphasis on sustainable sourcing and innovation in product development has further strengthened its position in the competitive edible oil market.
The brand’s association with Kareena Kapoor Khan as its ambassador has also played a pivotal role in enhancing its visibility and appeal. “Her endorsement reinforces the premium and trustworthy image of Tirupati Edible Oils, especially among urban and aspirational audiences,” Patel notes.
Challenges and Opportunities
Regulatory changes and import policies pose challenges to the edible oil industry, affecting raw material costs and pricing strategies. “We are actively exploring backward integration and promoting domestic oilseed production to reduce dependency on imports,” says Patel. This aligns with the government’s push for self-reliance in edible oil production, a transformative opportunity for the industry.
“India has the potential to become a major producer of oilseeds through improved agricultural practices and infrastructure support. At NK Proteins, we are committed to working closely with farmers and stakeholders to create a sustainable supply chain that benefits both producers and consumers,” Patel elaborates.
Vision 2025
As the company charts its path for 2025, double-digit growth remains a key target. “We will achieve it by expanding our product portfolio and entering new markets. Cottonseed oil will continue to be a major growth driver due to its health benefits and affordability,” Patel states. NK Proteins is also planning to introduce new value-added products tailored to health-conscious consumers, ensuring it stays ahead of market trends.
With a robust go-to-market strategy and a clear focus on innovation, NK Proteins is well-positioned to lead the Indian edible oil market into a healthier and more self-reliant future.
AI Meets Hospitality: Guestara Raises $500,000 to Power the Future of Guest Management
Guestara, a young company aiming to transform the way hospitality professionals interact with and serve their guests, has secured $500,000 in pre-seed funding.
The round was led by seasoned travel and hospitality tech entrepreneur Sanjay Ghare, alongside other prominent industry experts. This fresh infusion of capital will fuel the development of innovative AI-powered tools designed to optimize hotel operations, improve guest satisfaction, and unlock new revenue streams for properties worldwide.
Founded by CEO Akshay Dekate and a team of three co-founders, Guestara is an AI-driven guest management platform that simplifies and enhances essential hospitality functions.
The platform offers a suite of tools, including a Unified Inbox, Contactless Mobile Check-In, Omnichannel Guest Engagement, Personalized Upselling, and Smart Checkout. These features integrate effortlessly with top Property Management Systems (PMS), streamlining workflows and eliminating operational headaches for hotels, resorts, and vacation rentals.
By centralizing guest management into a smart, automated system, Guestara enables hospitality businesses to focus on creating exceptional experiences for their guests rather than being bogged down by routine tasks.
“Hospitality isn’t just about providing a service—it’s about crafting unforgettable experiences,” says CEO Akshay Dekate. “With Guestara, we’re using AI to help hotels redefine what that experience looks like. Our technology not only boosts efficiency but also strengthens guest loyalty. Our ambition is to onboard 2 million rooms worldwide and shift the industry toward a more data-driven, guest-centric approach.”
Snapdeal’s Strategic Moves Drive Significant Loss Reduction in FY24
Snapdeal has made remarkable progress in improving its financial performance, reducing net losses to ₹160.38 crore in FY24 from ₹282.20 crore in FY23—a reduction of 43%.
The company also managed to cut its EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) loss by an impressive 88%, bringing it down to ₹16 crore in FY24 from ₹144 crore in the previous year. These improvements were largely driven by a sharp decline in operating expenses.
Expense Cuts Drive Financial Turnaround
Snapdeal’s total expenditure fell to ₹540.76 crore in FY24, down from ₹687.93 crore in FY23. The biggest saving came from employee benefits, which dropped 48.5% year-on-year to ₹158.4 crore, compared to ₹307.53 crore in FY23. Advertising costs also saw a 23.5% reduction, coming down to ₹70.37 crore.
While Snapdeal’s operating income grew modestly by 2.1%, reaching ₹379.76 crore in FY24 from ₹371.96 crore in FY23, its market services revenue—its largest segment—declined by 9.6% year-on-year to ₹252.55 crore. However, enablement services revenue increased by 14.8%, reaching ₹103.36 crore, and income from other sources skyrocketed eightfold to ₹23.85 crore in FY24.
Snapdeal also raised funds by selling stakes in Unicommerce. In May-June 2024, the company earned ₹33 crore from a secondary sale of a 3.4% stake. Later, during its August 2024 IPO, it generated ₹81 crore by selling an additional 9.2% stake as part of an offer for sale.
Through strategic cost-cutting and targeted revenue generation, Snapdeal has taken significant steps toward financial stability, showcasing its focus on efficiency and long-term growth.
24Seven Takes Legal Action Against Godfrey Phillips Over Trademark Dispute
Retail chain 24Seven has filed a lawsuit against Godfrey Phillips India Limited, claiming the company continued to use its trademark without authorization.
Godfrey Phillips, however, has denied the allegations, stating that it ceased using the trademark after parting ways with 24Seven in July 2024. The case is scheduled to be heard in the Delhi High Court in March 2025.
Trademark Conflict and Court Battle Ahead
24Seven’s legal counsel, Sandeep Sethi, argued that despite exiting the partnership, Godfrey Phillips continued using the retail chain’s trademark. In response, Godfrey Phillips’ senior lawyer, Rajiv Nayar, challenged this claim, asserting that the company had stopped using the trademark in October 2024.
Godfrey Phillips had ventured into the retail business in 2005 with the launch of 24Seven, a convenience store chain operating 24/7 in major cities. However, the company exited the retail space in 2024 due to financial difficulties. Reports from CNBC TV-18 revealed that The New Shop, a retail startup, was in talks to acquire 24Seven’s business.
Complicated Internal Challenges
The exit plan from 24Seven also faced internal challenges. A family dispute over inheritance between Godfrey Phillips’ managing director, Bina Modi, and her son, Samir Modi, led to legal hurdles. Samir, who was an Executive Director, opposed the sale of the retail arm, but a Delhi court rejected his objections, allowing the company to proceed with its exit strategy. Following this, Samir was removed from the board by the company’s directors.
For the fiscal year 2023-24, Godfrey Phillips’ retail division generated Rs 403 crore in revenue, contributing 7.6% of the company’s total income. However, it also reported a negative net worth.
Basque by Brevé: A Café Celebrating the Art of Cheesecake and Coffee
Since its launch, Brevé’s San Sebastián Cheesecake has taken Mumbai by storm. With its caramelized top, creamy texture, and rustic charm, this Basque-inspired dessert has quickly become a city favourite.
The overwhelming response led founders Usman Bhadelia, a triathlete, and Farhaz Bhadelia, a seasoned coffee roaster and barista, to open Basque by Brevé—a community-driven café in Bandra that invites guests to fully immerse themselves in the experience.
Designed by Kavya Shah, the café features earthy tones, natural textures, and an open kitchen layout, creating a cosy and intimate atmosphere. Soft lighting and minimalist décor complete the experience, while the open kitchen lets guests witness the artistry behind each cheesecake. Chef Mayor Sakpal ensures each visit offers something special, with curated cheesecake and coffee pairings that enhance the flavours, accompanied by storytelling that celebrates the heritage of Basque cheesecake.
Farhaz Bhadelia shared, “At Basque by Brevé, we believe that the best moments are made over the perfect slice of cheesecake and a cup of coffee, brewed to perfection.” Usman Bhadelia added, “Our café invites people to savour life’s simple pleasures, with authenticity and craftsmanship in every bite and sip.”
Jubilant FoodWorks Limited (JFL) has formalized a strategic partnership with Coca-Cola India by signing a Memorandum of Understanding (MoU) to purchase sparkling drinks and other products from the global beverage giant.
As part of the deal, JFL will also handle marketing activities for these products.
This collaboration follows a significant move earlier this month when JFL’s parent company, Jubilant Bhartia Group, acquired a 40% stake in Hindustan Coca-Cola Beverages, the bottling arm of Coca-Cola in India.
A spokesperson from JFL stated, “Through this partnership, we aim to expand our product offerings while strengthening our presence in the beverage market. By aligning with Coca-Cola, we can tap into new opportunities to serve our customers with quality products and marketing expertise.” This move marks a key step in JFL’s broader strategy to diversify its portfolio and enhance its position within the Indian beverage industry.
Apart from being the force behind Domino’s Pizza in India, Jubilant FoodWorks (JFL) has expanded its reach in emerging markets with several prominent QSR franchises, including Popeyes and Dunkin’. The company also boasts two homegrown brands: Hong’s Kitchen, an Indo-Chinese fast-casual concept in India, and COFFY, a coffee shop brand in Turkey.
Jubilant’s operations now span across 3,130 outlets in six countries: India, Turkey, Bangladesh, Sri Lanka, Azerbaijan, and Georgia.
Kevin Pietersen Teams Up with Ardent Alcobev to Shake Up India’s Whisky Scene!
Kevin Pietersen, the former England cricketer, has become an investor in the whisky brand Ardent Alcobev and has taken on the role of brand ambassador, the company revealed in a statement on Friday.
In addition, Ardent Alcobev introduced its premium blended Scotch whisky, Dram Bell, in Maharashtra in November 2024.
Cofounder Comments on this Partnership
Debashish Shyam, co-founder and director of Ardent Alcobev, shared, “Having Kevin Pietersen on board as both an investor and ambassador is a significant step for us. We believe this partnership will resonate with whisky lovers and experts. With the growing demand for premium spirits in India, we aim to revolutionize the whisky industry by offering a blend that combines international quality with local preferences, while also tapping into the expanding market of IMFL consumers.”
The company is keen to cater to India’s changing tastes, offering ‘bottled-in-origin’ products crafted to meet global standards.
Former Top Cricketer Makes Fascinating Comments
Kevin Pietersen commented on his involvement, saying, “I’m thrilled to invest in Ardent Alcobev. Their dedication to top-tier quality and craftsmanship aligns with my values, both in cricket and life.”
He also emphasized the importance of responsible drinking, adding, “We want people to enjoy whisky in moderation, ensuring it’s a pleasurable experience rather than something excessive.”
Ardent Alcobev announced that its new whisky, Dram Bell, is currently available at select retail and on-premise locations, with plans to expand its presence in key markets across North and South India.
Ikea India has experienced a modest 5% growth in revenue, reaching Rs 1,852 crore for the financial year 2023-24. However, this marks the slowest expansion since the Swedish furniture giant opened its first store in India in 2018. The company also reported a widening net loss of Rs 1,303 crore, an increase of 15% from the previous year.
These losses are largely attributed to investments in infrastructure, new stores, and supply chain development. The total losses in India now stand at Rs 5,550 crore.
Challenges and Expansion Plans Amid Global Struggles
Despite the economic hurdles and restrained consumer spending, Ikea India has responded by reducing prices on several products by 20%, taking advantage of lower raw material costs. Looking ahead, the company plans to strengthen its presence in the National Capital Region (NCR), with new stores planned for Gurugram and Noida as part of a larger Rs 10,500-crore investment plan.
Globally, Ikea faced a 5.3% drop in revenue, amounting to 45.1 billion euros in FY24, as lower prices contributed to the decline. Despite this, the company continued to expand its retail network, opening 56 new stores across various markets.
CEO Jesper Brodin expressed optimism about India’s potential, emphasizing that scaling operations will be key to achieving long-term success. He believes that a strategic expansion of 8-10 stores will allow the company to reach the necessary economies of scale.
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