Quench your thirst and save big with Keventers Super Savings Thursdays: All shakes for only INR 129!

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April 19, 2023

Keventers, an iconic Indian Dairy brand with a legacy of 97 years – best known for its Milkshakes & Desserts, has announced the biggest deal of the season! Thursday offers at Keventers have taken a whole new avatar with the brand’s latest “Super Savings Thursday” campaign that is bigger and better than ever.

The Super Savings Thursday offer includes some of the most popular and indulgent treats at incredibly low prices! Now you can enjoy their delectable Nutella Shake, best-selling Belgian Chocolate Milkshake at an incredibly low price of just INR 129. Devour into your favourite Guilty Pleasure Sundae at just INR 149.

Now you can get all regular beverages @INR 129 (milk shakes, iced beverages, ice cream blended shakes). All large beverages are priced @INR 199 (milk Shakes, iced beverages, thickshakes, ice cream blended shakes) and all sundaes @INR149

These exciting offers are applicable at all Keventers stores across India, on all lip smacking flavors in each milkshake category including classic, chocolate, special shakes, all exciting thick shakes with velvety soft texture, tempting, mouth-watering sundaes, luscious Blended Ice Cream Shakes and recently launched sparkling iced beverages with whole lotta fizz and a whole lotta fun!

Commenting on the campaign, Mr Agastya Dalmia, Founder and CEO, Keventers said, “As a brand we’re always looking for new ways to connect with our customers and provide them with the best possible experience. Our Super Savings Thursday Offer is the latest example of that commitment. We know that people love our milkshakes and other treats, and we wanted to give them even more reasons to visit us.”

Keventers, creator of the iconic milkshake is India’s first very own ‘Made in India’ brand. Established in 1925 by Edward Keventer, Keventers then became famed for its milkshakes. Acquired by Ram Krishna Dalmia in 1940, it underwent great changes through the course of history.

From supplying to the Indian army to becoming the preferred choice for Delhiites walking around Connaught Place. The brand was then revived in 2015 by Agastya Dalmia, Aman Arora and Sohrab Sitaram. Keeping the vintage tone alive with its signature glass bottles, the trio has completely revamped the brand in a way that makes it strike a chord with modern-day consumers. Presently Keventers has brand presence across India, UAE, Oman and Kenya.

Aman Arora, Co-Founder and CMO of Keventers, weighed in on the campaign, stating, “We’re thrilled to announce our Super Savings Thursday Offer, which we believe will be a game-changer for our brand. Our goal is to make Thursdays the new weekend and we’re confident that our amazing offers will make that a reality. We’re excited to provide our customers with even more value, and we hope that this becomes a beloved property for both Keventers and our loyal audience”.

Bigbasket joins ONDC as a seller, expanding the platform’s reach in the grocery retail space

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April 19, 2023

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On Tuesday, the Open Network For Digital Commerce (ONDC) protocol announced via a tweet that it had successfully onboarded Bigbasket, a grocery retailer backed by Tata, as a store on its platform.

We are pleased to announce that @bigbasket_com's wide range of products are now available for purchase through the open network. Find your favourite household items and buy them through any of the ONDC buyer apps:https://t.co/MwIK5tLPBS #ONDC #DigitalIndia #BigBasket #Ecommerce pic.twitter.com/p8vjzYOua2
— ONDC India (@ONDC_Official) April 18, 2023

Shortly after Walmart-supported PhonePe launched its hyperlocal seller app Pincode on the ONDC platform, Tata-supported grocery retailer Bigbasket joined the platform as a store, according to a tweet by the Open Network For Digital Commerce (ONDC) protocol on Tuesday. Pincode is now being used by several companies, including PhonePe, Paytm, Meesho, Mystore, Craftsvilla, Magicpin, and Spice Money, on the buyer side of the app.

In Bengaluru and Meerut, where it is currently in beta testing, the ONDC protocol boasts over 25,000 sellers and more than 24 lakh products across a variety of categories such as groceries, food and beverages, home and decor, beauty and personal care, fashion, electronics, and more.

Axis Bank has reportedly developed a new ONDC-based platform for groceries, as per recent reports. However, major ecommerce firms like Flipkart, Amazon, and Google, which have a significant number of sellers and small businesses, are yet to adopt the protocol.

Through seller apps, the ONDC protocol facilitates the connection between buyers and local merchants on its buyer app. The ecosystem also welcomes technology providers and logistics companies, who can service the orders, as part of the protocol.

Registered as a non-profit in December 2021 with the Quality Council of India and Protean eGov Technologies, ONDC intends to obtain additional funding for operations from a range of financial institutions, including but not limited to BSE, NSE, Kotak Mahindra Bank, Axis Bank, HDFC, SBI, SIDBI, NABARD, Bank of Baroda, CSC eGovernance Services, UCO Bank, Central Depository Services, ICICI Bank, NSDL, Bank of India, and Punjab National Bank.

Just Eat raises guidance amid shrinking order appetite

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April 19, 2023

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On Wednesday, Just Eat Takeaway.com NV announced an increase in its adjusted core profit forecast for the year. This was due to the company’s successful implementation of delivery-focused operational enhancements, despite a decline in food orders.

In addition, the company revealed its plan to initiate a share buyback program worth up to 150 million euros ($164.34 million) by the end of the year. Just Eat Takeaway.com NV anticipates that this program will enhance its earnings per share.

The Covid-19 pandemic provided a boost to the food delivery industry, but as consumers faced with rising prices, discretionary spending has decreased, and the sector has seen a decline in the effects of the pandemic.

The largest meal delivery company in Europe has raised its projected adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for 2023. The company now expects to reach 275 million euros ($301.6 million), up from its previous forecast of 225 million euros in January.

Meanwhile, the company’s trading update for the first quarter disclosed a decrease in total orders to 227.8 million, which is 14% lower than the figure recorded in the same period last year.

The company listed in the Netherlands has predicted that its gross transaction value (GTV) growth for 2023 will be between -4% to +2% year-on-year. This is after recording a GTV of 6.67 billion euros, which is an 8% decrease compared to the same period in the previous year.

The company declared its anticipation of achieving a positive free cash flow by mid-2024.

Just Eat has not achieved a positive cash flow as of yet, and since its initial public offering (IPO) in 2016, the company’s share price has declined by almost 30% from its original value.

On Wednesday, the company’s share price initially increased, but then declined by 4% at 0737 GMT.

Bira 91 introduces limited-edition beers and merchandise inspired by Mumbai Indians and Delhi Capitals

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April 19, 2023

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Bira 91 announced the launch of two unique beers, namely 022 Session Ale and 011 Gully Pilsner, and custom-made merchandise paying homage to Mumbai Indians and Delhi Capitals franchises. As the official partner of both teams, Bira 91 has crafted distinct beer flavors and merchandise that draw inspiration from the essence of Mumbai and New Delhi.

Significant landmarks of both cities are featured in the packaging design of the limited-edition beers.

The names of Bira 91’s 022 Session Ale and 011 Gully Pilsner are derived from the dial codes of Mumbai and Delhi, respectively.

Paying homage to the Mumbai Indians and the city itself, the 022 Session Ale from Bira 91 offers a smooth taste complemented by sweet hoppy flavors.

On the flip side, Bira 91’s 011 Gully Pilsner is brewed using pilsner malts and noble hops, which yields a refreshing floral hop finish that mirrors the spirited essence of Delhi Capitals.

In addition, Bira 91 introduced a personalized barware collection for both Mumbai Indians and Delhi Capitals, which is available for purchase at the Bira 91 Merch Store.

Bira 91’s 022 Session Ale and 011 Gully Pilsner will be available in 330ml bottles and 500ml cans exclusively in Mumbai and New Delhi, while the merchandise can only be bought from Bira 91’s official merch store.

Food delivery giant Deliveroo launches internship programme for Indian students

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April 19, 2023

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Deliveroo, a food delivery firm based in the UK, has launched its inaugural internship program for college seniors graduating in India.

The paid internship program spans six months and enables interns to work at Deliveroo’s India Development Centre (IDC) in Hyderabad, where they can collaborate with the core engineering teams devoted to Restaurant tech, Consumer Tech, Delivery, Care & Trust, and Finance.

As part of an extensive campus recruitment drive that assessed their technical expertise, communication skills, and ability to prototype, students majoring in Computer Science & Information Technology from Vasavi Engineering College have been chosen.

The program is anticipated to bring new insights to the engineering teams that tackle crucial obstacles, given the rapid advancements in consumer-facing technology. This will accelerate the students’ career growth and increase their likelihood of assimilating into a corporate setting.

“We have tailored this programme as an avenue for India’s promising engineering talent to build on their academic nous with practical exposure to disruptive technology that happens at Deliveroo every day. Similar to our partnership with Vasavi Engineering College, we want to build long-term relationships with premier academic institutions in India, which will help us eventually create a deeper talent pool for IDC in the coming years,” shared Sashi Somavarapu, Vice President – Engineering and Country Head, Deliveroo India.

During the internship, the participants will be provided with a tailored learning roadmap and collaborative opportunities to achieve their objectives. Moreover, the company intends to extend the internship initiative to other parts of India in future stages.

Deliveroo’s India Development Centre (IDC) is the biggest technology centre outside the UK, which serves as the primary engineering operation for the company in its home country. With 140 engineers, it constitutes a significant portion of the company’s 600 global engineering workforce. The IDC is a vital part of Deliveroo’s central technology organisation, with its employees specialising in analytics, automation, platforms, and machine learning.

Swiggy ventures into one-hour ecommerce delivery with Maxx, rivals Flipkart and Amazon in India

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April 19, 2023

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Swiggy, the major player in the food delivery industry, is currently exploring the ecommerce sector in India, which is largely dominated by established names such as Flipkart and Amazon. As a part of this initiative, Swiggy is piloting a new vertical called Maxx, which is offering one-hour delivery services in certain areas of Bengaluru.

At present, Maxx has a range of products including toys, electronics, gadgets, and home and kitchen essentials. Swiggy intends to expand the product range of this vertical in the near future to include categories such as beauty and grooming, basic clothing, gardening, furnishing and decor, as well as health and fitness products.

A statement from a Swiggy spokesperson has confirmed the development.

“Customers trust Swiggy for the speed and unparalleled convenience we have brought across categories such as food delivery and quick commerce. Maxx aims to be the destination for a wide variety of home and family shopping needs, delivered in 1 hour. We are currently running a pilot program in Bangalore,” the spokesperson said.

Currently, the pilot program is only available in select areas of Bengaluru, including Indiranagar. Swiggy is providing free shipping for orders above INR 99, and discounts ranging from 30% to 60% on a wide range of products.

By entering the rapidly expanding ecommerce sector in India, Swiggy appears to be attempting to gain a portion of the market share. According to estimates, India’s ecommerce industry is anticipated to become a $400 billion opportunity by 2030, with a compound annual growth rate (CAGR) of 19% between 2022 and 2030.

After acquiring DineOut in the previous year, Swiggy has been progressively introducing new categories to expand its services. This year, the company entered the high-end grocery delivery business by launching Handpicked in Bengaluru.

In addition, Swiggy introduced Swiggy Minis, a platform that caters to niche products including snacks and beverages, personal care items, electronics, bakery products, home and decor, pet care products, and jewelry from startups and small businesses. Swiggy Minis is currently available in specific cities.

Following the ongoing funding winter and increasing losses, Swiggy, along with many other Indian startups, has shifted its attention towards profitability. In the financial year 2022, Swiggy’s net loss surged by 2.2 times to INR 3,628.9 Cr from INR 1,616.9 Cr in the previous year, mainly due to its expenses more than doubling. However, the company’s total revenue also increased by 2.2 times to INR 6,119.8 Cr in FY22 from INR 2,675.9 Cr in FY21.

Earlier this year, Swiggy announced that it would terminate the employment of 380 individuals as part of a restructuring effort to reduce costs, citing the macroeconomic headwinds.

Swiggy CEO Sriharsha Majety said, “(We) have already advanced our own timelines for profitability on food delivery and Instamart. While our cash reserves allow us to be fundamentally well positioned to weather harsh circumstances, we cannot make this a crutch and must continue identifying efficiencies…”

In a recent development, Swiggy’s investor, Invesco, lowered the valuation of the foodtech company by over 25% to $8 billion.

Zomato shares surge 5% as company issues clarification on temporary closure of multiple Blinkit stores

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April 19, 2023

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Zomato, the prominent online food delivery platform, issued a clarification on Wednesday regarding the closure of multiple Blinkit outlets. The temporary unavailability of the Blinkit instant grocery app was attributed to modifications in the delivery partner payout structure that impacted the entire Blinkit enterprise. Blinkit services remained suspended for a brief period. As a result of this clarification, Zomato’s stocks surged by a minimum of 5%.

Zomato was requested by exchanges to provide clarification regarding a report stating that Blinkit was not available for a temporary period.

On Wednesday, Zomato issued its official response to the exchanges.

It said, “Over the last few days we have made changes in the delivery partner payout structure with respect to the Blinkit business to address the needs of delivery partners, improve customer experience and reduce cancellation/ order rejection frauds by few delivery partners in the system.”

“Such changes are done from time to time, as needed,” the company’s filing added.

Therefore, Zomato stated that they had to close certain outlets for a few days to guarantee the well-being of their employees and delivery partners.

However, the majority of these stores have now resumed their operations.

Finally, Zomato also said, “These disruptions and changes have no material impact on the operations /financial performance of the Company (meaningfully less than 1% revenue impact) and hence we believe that this event does not warrant any disclosure.”

As of writing this, Zomato’s shares were being traded at INR 54.51 each, exhibiting a rise of 2.17% on the BSE. The stock has gained a minimum of 4.8% on the exchange, with an intraday high of INR 55.90 per share.

As per the current market price, the company’s market capitalization exceeds INR 46,625 crore.

Since April 12, 2023, approximately 50% of dark stores in the NCR region have been affected by the ongoing strike of Blinkit’s delivery personnel. According to media reports, the strikers are demanding a reversal of the recent modifications made to the delivery incentive system in the area.

According to ICICI Securities analysts, as of Q3FY23, Blinkit was running approximately 370 dark stores across India. This suggests that roughly 25% of these dark stores are presently not in operation. As at least 3-4 days’ worth of sales have been forfeited, this translates to a potential loss of roughly 1% in revenue from Blinkit and approximately 0.15% of the consolidated revenue for Q1FY24.

For Q4 results, in the latest research note, ICICI Securities analysts said, “We estimate food delivery GOV to remain flat sequentially in Q4FY23E (+14.2% YoY) despite Zomato Gold activation. Our view is restrained given a seasonally weaker quarter and online consumption fatigue trends. We estimate 1% QoQ decline in food ordering AOV as delivery fees have been waived for Gold members. We estimate the food ordering contribution margin to remain stable QoQ as restaurant take rate improvements may offset delivery subsidy increases.”

Additionally, the brokerage firm anticipates Zomato’s B2B Hyperpure enterprise to expand by 26% quarter-on-quarter (QoQ) and Blinkit to expand by 30% QoQ, driven by an expansion in their geographic presence. Overall, the estimate is for a 9.5% QoQ growth in adjusted revenue and 68% YoY growth, along with a steady consolidated EBITDA QoQ in Q4FY23E, signifying the sustainable growth of Zomato’s new businesses.

On Zomato stock price, the brokerage’s note said, “slowing growth was evident in GOV due to post-Diwali consumption fatigue and the online-to-offline shift. However, based on sustained improvement in the underlying operating metrics, we maintain BUY on Zomato with a DCF-based target price of INR 65. We acknowledge that further slowdown in growth poses a risk to our FY24E/FY25E estimates, but we think, at CMP, the risk-reward is still skewed to the upside.”

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of SnackFax. We advise investors to check with certified experts before taking any investment decisions.

Coca-Cola’s launch of Topo Chico Sabores aims to expand the reach of the mineral water brand

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April 19, 2023

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Coca-Cola is introducing Topo Chico Sabores, a new line of premium sparkling water beverages crafted with fruit juice and herbal extracts. With this addition, Coca-Cola is expanding the Topo Chico brand into the non-alcoholic premium beverage category, providing consumers with a luxurious drinking experience.

Coca-Cola, headquartered in Atlanta, has been actively driving innovation in Topo Chico by introducing new flavors and product extensions, such as its partnership with Molson Coors to offer an alcoholic version. These efforts aim to provide consumers with a wider range of options and further boost the popularity of the beverage. With its ongoing commitment to Topo Chico, Coca-Cola is hopeful that the brand’s sales could exceed $1 billion in the future.

This month, Topo Chico Sabores, featuring three flavors – Blueberry, Tangerine, and Lime, will be launched in stores. This product offering mirrors a century-old Topo Chico beverage, indicating the brand’s commitment to honoring its history while catering to evolving consumer preferences.

“The most interesting piece about that is how the brand has sort of transcended the sparkling mineral water space, has become bigger than just the category itself,” Dan White, Coca-Cola’s Chief of new revenue streams, said in an interview. “And that’s where really the growth from Topo Chico comes from and what we’re really leaning into.”

In 2017, Coca-Cola acquired Topo Chico for an estimated $220 million, marking a significant move to expand its beverage portfolio and decrease its reliance on sugary drinks. This acquisition was particularly meaningful as Coca-Cola had a long-standing partnership with Topo Chico for nearly a century prior to the purchase.

Following the acquisition, Coca-Cola has utilized its extensive distribution network to enhance Topo Chico’s reach throughout the United States. This effort has helped to transform the once regional favorite into one of the most highly regarded brands in its category. Moreover, Topo Chico has benefited from the growing trend among consumers who seek fizzy drinks that offer a refreshing taste without excessive sugar.

After its acquisition by Coca-Cola, Topo Chico’s sales have witnessed a significant surge due to the brand’s expanded distribution across the United States. As per Nielsen data shared by Coca-Cola, Topo Chico’s market share in the sparkling water category rose from 20% to 35% between 2017 and 2021, underscoring the brand’s increasing popularity among consumers.

“We’ve really done a very, very good job of allowing the brand to become what consumers want it to be,” White said.

According to research, consumers view Topo Chico as more than just bottled mineral water sourced from Mexico. Its growing popularity has prompted Coca-Cola to explore opportunities to expand the brand into other categories. With a high level of demand and growing consumer interest, executives like White are optimistic that Topo Chico has the potential to become a $1 billion brand, despite being part of a beverage giant known for products like Diet Coke, Body Armor, and Dasani.

“It’s on a trajectory to do that,” White said. He declined to predict when it could reach the $1 billion level.

Coca-Cola has reported that the sales of flavored sparkling water alone have reached around $300 million in the United States retail market. The company anticipates that this upward trend will continue in the foreseeable future.

Ghodawat Consumer achieves impressive revenue milestone, crossing INR 1600 Crore in FY23

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April 19, 2023

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In FY23, Ghodawat Consumer (GCL), the fast-moving consumer goods (FMCG) division of Sanjay Ghodawat Group (SGG), reached an impressive milestone by exceeding INR 1600 crore in revenue. GCL’s dedication to innovation, customer-centricity, affordability, and quality has established a distinct brand image. As a result of these principles, GCL experienced a YoY growth of 20%, and aims to reach INR 2000 crore in revenue in FY24.

Initially focused on producing edible oils, Ghodawat Consumer (GCL) has since diversified its product portfolio to include staples and impulse categories. Today, GCL’s products, such as the popular ‘Star’ brand atta, edible oils, pulses, rice, salt, snacks, assorted namkeens, water, and ‘To Be Honest’ – real fruit and vegetable crunchies, have become household names in western and southern India.

Furthermore, GCL’s beverages category boasts top-selling products such as Fizzinga – carbonated drinks, Frustar – fruit drinks, Coolberg – non-alcoholic beer, and Rider – Energy Drink.

Ghodawat Consumer (GCL) produces all of its products in cutting-edge facilities that follow the most stringent manufacturing protocols. The company’s skilled team ensures that only top-quality raw materials and packaging are utilized to provide customers with the finest products possible.

Shrenik Ghodawat, Managing Director, GCL, said, “We are committed to changing the experience of everyday food, merging innovation and technology to provide consumers with fresh and wholesome products. Our unique marketing strategies, quality products, and expansion into new markets have helped us achieve this milestone. Our business model is focused on providing customers with affordable products, greater ROI for distributors, and ease of stocking for retailers. We strive to ensure that every consumer utilizes at least one product from GCL in their day. We will continue to focus on maximizing value for all our stakeholders.”

GCL has set a goal to achieve plastic neutrality and carbon neutrality by 2030, and to that end, the company has established manufacturing facilities that are powered by solar and wind energy, and utilize co-generation to generate electricity. By undertaking these efforts, GCL is demonstrating its dedication to creating a sustainable future for everyone.

Rage Coffee launches sustainable, vibrant glass jars made in India for coffee lovers

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April 19, 2023

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Delhi-based FMCG company, Rage Coffee, known for its innovative packaged caffeine products, has introduced its latest product line featuring elegantly styled jars adorned with vibrant brand colors that evoke a sense of energy and inspiration.

The jars are designed with a V-shaped frame that symbolizes victory, embodying the winning attributes of the Rage Coffee brand. These jars reflect the characteristics of a “Rager,” including the courage to take risks, the drive to dream big, a determined work ethic, and a caring heart that challenges the status quo for what is right.

The revolutionary aspect of these jars is that they cater to coffee enthusiasts who are passionate about pursuing their dreams while also supporting sustainability in India. The Rage Coffee team dedicated over a year to research and development and conducted numerous trials to create the ideal coffee glass jar. This is a notable achievement, given that several industry leaders still rely on imported jars from other countries.

The new jar stands out for its sustainability, featuring a glass body with a metal lid that ensures airtight storage and aligns with eco-friendly packaging standards.

Bharat Sethi, the Founder and CEO of Rage Coffee, shared his excitement about the launch of these new jars, stating that, “Rage Coffee is truly Indian. It is made in India and made for India. With the introduction of our new packaging jars, we have taken the reflection of our virtues as a brand and the reflection of our nation to another level. Being a consumer-backed company, we have always found innovative ways of giving back to the community and society. It is very difficult to experiment with new glass jar shapes, as the order quantities, R&D costs, and the whole process are very difficult. We chose the road not taken and decided to sail against the wind and create something not done before in glass packaging.”

“These jars are vibrant and crafted for fueling victory for our community, called “Ragers” who win and live a passionate life every day. We hope to represent passion, energy, and positivity through our new and sustainable, bold, and 100% designed and manufactured in India.” Bharat concluded

Rage Coffee, one of the rapidly growing FMCG brands in India, has expanded its product line by introducing three new healthy snacks under the Rage Snacks brand: Coffee Peanut Bars, Caffeine Almond Bars, and Chocolate Oats Cookies. These snacks cater to health-conscious consumers, as they are gluten-free, made with natural premium ingredients, and free from preservatives and colorants. The snacks are convenient for on-the-go consumption, catering to the fitness-driven lifestyle.

Rage Coffee, backed by Indian cricket superstar Virat Kohli, is a fast-growing FMCG brand in India and offers the country’s first 100% plant-powered coffee infused with six plant vitamins. The coffee is made from 100% Arabica beans, sourced from India’s most renowned plantations, and is available in nine exciting flavors. With its delicious taste and vitamin-packed formula, Rage Coffee is the perfect way to start your day.

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