PharmEasy Co-Founders Exit: What Lies Ahead for the HealthTech Giant

Business

January 20, 2025

Image of pharm easy — PharmEasy Co-Founders Exit: What Lies Ahead for the HealthTech Giant

Dharmil Sheth, Dhaval Shah, Harsh Parekh, and Hardik Dedhia, the founding members of API Holdings — the parent company of PharmEasy — are set to step down, according to sources familiar with the matter.

Sheth and Shah originally founded PharmEasy in 2015 as a platform for delivering medicines online. In a major move in 2020, PharmEasy merged with Ascent Health, a major offline pharmaceutical distribution company, leading to the formation of API Holdings. This merger brought together Sheth, Shah, Parekh, Dedhia, and Siddharth Shah — co-founders of Ascent Health — to lead the combined entity.

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Now, over four years after the merger, most of the co-founders are preparing to depart from the company, although Siddharth Shah will remain involved in a leadership capacity, sources confirm. This transition has been in the works since PharmEasy raised its significant funding round in April 2024, which marked a turning point for the company.

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Though the details of the co-founders’ next steps remain unclear, the exit follows a challenging period for API Holdings. In 2023, the company faced difficulties meeting financial obligations after securing a $300 million loan from Goldman Sachs, which further strained its operations.

PharmEasy declined to comment on the changes when contacted. With Siddharth Shah staying on as CEO, the company’s future leadership and direction are now in transition.

Third Wave Coffee Expands Nationwide with New Café in Chennai, Plans for 150 Locations

Retail & Ecommerce

Online Desk

January 20, 2025

Image of third wave coffee — Third Wave Coffee Expands Nationwide with New Café in Chennai, Plans for 150 Locations

Third Wave Coffee, the QSR brand known for its focus on high-quality coffee, has recently opened its 125th café, marking its debut in Chennai. This milestone is part of the company’s aggressive expansion plan to enhance its presence in India’s bustling retail coffee scene, with an ambition to reach 150 cafés within the next two months.

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Chennai, a city rich in culture and commerce, is now home to a Third Wave Coffee café, expanding the brand’s reach to 10 major cities, including Delhi-NCR, Mumbai, Bengaluru, Pune, Hyderabad, and Chandigarh. The brand stands out by blending specialty coffee with innovative brewing methods, offering an inviting atmosphere for coffee lovers.

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Its menu includes everything from single-origin coffees to cold brews, alongside a selection of snacks and desserts. Third Wave Coffee also hosts engaging community events, workshops, and collaborations to bring people together.

True to its commitment to inclusivity, the brand runs cafés with all-women teams and employs specially-abled staff, reflecting its dedication to diversity and equality. As it continues to grow, Third Wave Coffee aims to not only transform India’s coffee culture but also strengthen its community connections across the country.

RBI Points to Quick Commerce and E-Commerce as Growth Engines for India’s Economy

Growth

Online Desk

January 20, 2025

Image og quick commerce — RBI Points to Quick Commerce and E-Commerce as Growth Engines for India’s Economy

The Reserve Bank of India (RBI) has highlighted the growing influence of e-commerce and quick commerce in fueling private consumption in India.

In its latest monthly bulletin, the RBI emphasized that these sectors are among the key contributors to the economy’s brighter outlook, noting that they are powering up private consumption.

The central bank also stressed the importance of encouraging competition in these segments, rather than imposing restrictive measures. However, it also observed that the demand for essential household items showed only a modest uptick in the final quarter of 2023.

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The RBI further noted that the urban middle class is hopeful that a reduction in food inflation could boost disposable incomes, enhancing overall spending power. It suggested that a boost to consumption could help reignite economic momentum.

Additionally, the RBI pointed to the continued strength of rural demand, expecting robust growth in that segment. This observation echoes its earlier statement from November, where it recognized rural India as a significant growth area for e-commerce, especially during festive seasons.

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The backdrop of these remarks comes as quick commerce has rapidly emerged as a new battleground in the retail space. Leading platforms such as Zomato’s Blinkit, Swiggy’s Instamart, and Zepto collectively generated over $1 billion in revenue in FY24. Not to be left behind, e-commerce giants Flipkart and Amazon have also entered the quick commerce fray, with companies like JioMart and BigBasket also looking to capture a share of this rapidly expanding market.

Coca-Cola’s Eco-Friendly Mission: Transforming Maha Kumbh with Recycled Materials

Business

Online Desk

January 20, 2025

Image of coca-cola — Coca-Cola’s Eco-Friendly Mission: Transforming Maha Kumbh with Recycled Materials

Coca-Cola India, in collaboration with its foundation Anandana, has joined hands with the PHD Rural Development Foundation (PHDRDF) and the Prayagraj Mela Authority (PMA) to drive sustainability efforts at the 2025 Maha Kumbh Mela. This initiative is centered around enhancing waste management and recycling systems, reflecting the increasing focus on sustainable practices in India’s retail and event industries.

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Through the Maidaan Saaf campaign, Coca-Cola India has designed and distributed 21,500 jackets made from recycled PET plastic. These jackets are being provided to sanitation workers, boatmen, and waste management volunteers. The distribution includes 10,000 jackets for sanitation workers as part of the SwachhKumbh initiative, 10,000 life jackets for boatmen navigating over 4,000 boats, and 1,500 jackets for waste management volunteers. These jackets not only offer safety but also play a role in raising awareness about plastic reuse.

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Additionally, Coca-Cola India has built 1,000 women’s changing rooms using recycled multi-layered plastic waste along a 12 km stretch of river ghats. These rooms offer a private and ventilated space for women, while also featuring artwork from Indian illustrators, including the Aravani Art Project, Gaysi Family, and Priyankar Gupta. This initiative creatively engages visitors in waste segregation and recycling efforts.

Vivek Vyas, CEO of PHDRDF, emphasized, “The Maha Kumbh Mela is a unique blend of faith, culture, and tradition, attracting millions from around the world. Our partnership with Coca-Cola India marks a crucial step in integrating sustainability into this historic event. With innovations like recycled plastic changing rooms, life jackets, and hydration kiosks, we are setting a new standard for a cleaner, safer, and more eco-conscious Kumbh, aligning modern solutions with traditional values to create a positive, lasting impact.”

Reliance Retail Expands Luxury Portfolio with Saks Fifth Avenue’s Indian Debut

Retail & Ecommerce

Online Desk

January 20, 2025

Image of reliance — Reliance Retail Expands Luxury Portfolio with Saks Fifth Avenue’s Indian Debut

Reliance Retail is making waves in the high-end retail sector by introducing the iconic American luxury store, Saks Fifth Avenue, to the Indian market. This move marks a strategic expansion into the super-luxury category, further enhancing the company’s position in the premium market.

In a recent earnings report, Reliance announced the franchise partnership with Saks Fifth Avenue, a brand established in 1924, renowned for its exclusive luxury fashion and tailored customer experience. Currently, Saks operates 41 stores across North America, and the partnership brings this legacy to India.

Reliance Retail has been building its luxury portfolio steadily. The company recently formed a joint venture with Mothercare PLC, acquiring the British brand’s intellectual property for the Indian subcontinent. Specializing in products for parents and children, Mothercare adds to Reliance’s growing list of premium partnerships. In addition, the retail giant has introduced several high-end brands, such as Tiffany & Co., Sandro, and the London-based café chain EL&N, further diversifying its luxury offerings in India.

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Along with its foray into luxury fashion, Reliance is also making significant strides in the fast-moving consumer goods (FMCG) space. Its consumer brands reported a revenue of over Rs 8,000 crore in the first nine months of FY25, with Campa and Independence brands gaining considerable traction. Campa, in particular, holds a 10% market share in the sparkling beverage sector in select states, and both brands are expected to generate over Rs 1,000 crore in turnover by FY25.

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Through its expansion into luxury fashion with Saks Fifth Avenue and the scaling of its FMCG operations, Reliance Retail is cementing its leadership across multiple retail segments, meeting the needs of both high-end and everyday consumers.

Hindware’s Future in Safe Hands: Nirupam Sahay Appointed CEO to Steer the Brand’s Growth Across Multiple Verticals

Business

Online Desk

January 20, 2025

Image of hindware — Hindware’s Future in Safe Hands: Nirupam Sahay Appointed CEO to Steer the Brand’s Growth Across Multiple Verticals

Hindware has appointed Nirupam Sahay as its new CEO, where he will oversee the company’s diverse portfolio, including Sanitaryware, Faucets, Tiles, Kitchen Appliances, and Home Appliances. Before joining Hindware, Sahay was the president of lighting solutions at Dixon Technologies India Limited, a position he held for nearly two years.

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Sahay brings a wealth of experience to his new role, with a career spanning over 30 years. His expertise covers both B2C and B2B sectors, with a proven track record of boosting market share and profitability in both fast-growing and challenging industries. He has a history of leading digital transformation efforts, particularly in product development, sales processes, and marketing strategies.

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Sahay has also held significant leadership roles at major companies like Philips Lighting, Signify, Surya Roshni, GE Capital, Whirlpool, Asian Paints, and Dixon Technologies. Alongside his professional achievements, he serves on the board of the Institute for Advanced Studies in Complex Choices. His broad experience in sales, innovation, operations, and general management equips him to drive Hindware’s growth and future strategy.

Reliance’s Strategic Shift: Fast Deliveries Through Existing Infrastructure

Growth

Online Desk

January 20, 2025

Reliance Industries is acknowledging the rising competition from quick commerce but is opting for a strategy that plays to its existing strengths. Instead of jumping into the race with dark stores, the company plans to use its established network of Reliance Smart outlets and kirana stores to drive faster deliveries, as per sources familiar with the company’s approach.

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According to a source, “We don’t need dark stores. Our Reliance Smart outlets and partnerships with local kiranas will serve as our base for faster deliveries.” The strategy focuses on keeping things lean, using a network of existing infrastructure to scale services across the country.

Unlike quick commerce rivals like Zepto, Zomato, and Swiggy, Reliance isn’t rushing to brand itself as a “quick commerce” player. They are avoiding promises of hyper-fast delivery windows on the Jio Mart app. Instead, the company is rolling out express and scheduled deliveries, with a focus on strong unit economics, capitalizing on its large-scale infrastructure to support these services. This also gives them an advantage in localizing selections, particularly in segments like fashion and value.

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While many view this shift as Reliance’s move to compete in the fast-paced delivery space, the company remains cautious. It has long been wary of the quick commerce model, with its high cash burn rates and thin margins. Despite challenges in revenue and product mix, Reliance Retail has successfully maintained its profitability.

However, this approach has come at a cost. Analysts from HSBC point out that while the company protected its margins, it did lose market share to quicker competitors, resulting in a decline in its valuation premium.

Shark Tank Drama: Go Devil’s Journey from Financial Struggles to Ambitious Pitch

Entrepreneurship

Online Desk

January 20, 2025

Image of shark tank — Shark Tank Drama: Go Devil’s Journey from Financial Struggles to Ambitious Pitch

In a recent episode of Shark Tank India Season 4, Vinish Arya and his daughter Angel Arya, the founders of the family-operated brand Go Devil, pitched their garment business to the investors, seeking Rs 80 lakh in exchange for a 2% equity stake. With a brand valuation of Rs 40 crore, their journey since launching in 2022 has been filled with both triumphs and struggles.

Vinish, who has been in the garment and leather goods industry since 1998, shared the hurdles he’s faced over the years, from the fallout of the 2008 global recession to the challenges posed by the 2020 pandemic. Reflecting on his experiences, he remarked, “Life mein hi up down chala hai” (Life has been full of ups and downs). His frankness about his journey resonated with the sharks, especially when Peyush Bansal acknowledged Vinish’s sharp design acumen.

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When it came to financials, Vinish presented the growth of Go Devil, noting they had earned Rs 1.44 crore in their first year, Rs 2.45 crore in the second, and Rs 2.75 crore in just the first half of the current year, with a projected Rs 8 crore for the year’s end. Although these numbers showed promise, the sharks were skeptical about the brand’s unit economics and questioned the sustainability of the business practices, suggesting that the figures didn’t reveal the complete picture.

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The emotional weight of the pitch became evident when Vinish disclosed that he had sold his house and invested Rs 2.5 crore into the business. To keep things running, he had also borrowed Rs 3 crore from friends. This raised alarm among the investors, with Anupam Mittal expressing his concern, calling the risk “dangerous” and cautioning Vinish against taking such a precarious financial route.

From Online to Offline: IGP Expands Its Gifting Empire with Mumbai Store

Retail & Ecommerce

Online Desk

January 20, 2025

Image of igp — From Online to Offline: IGP Expands Its Gifting Empire with Mumbai Store

India celebrates over 50 major festivals each year, with countless regional and community-specific events pushing the total number of celebrations well beyond 1,000. These occasions are deeply rooted in rich cultural traditions, where giving gifts is a cherished practice. Whether it’s a festival or personal milestones like birthdays and anniversaries, thoughtful gifting and special rituals like cutting a cake at midnight are integral parts of the celebrations.

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Seeing an opportunity in the market, Tarun Joshi launched IGP in 2017 under his parent company, Join Ventures Pvt. Ltd., aiming to simplify the gifting experience. IGP quickly became a go-to platform for a variety of gifts suitable for every occasion.

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Today, IGP stands as India’s largest multi-category gifting brand, offering a wide range of products—nearly 5,000 SKUs spanning flowers, cakes, gourmet foods, plants, fashion, beauty, home decor, and even personalized gifts. After seven successful years online, IGP opened its first brick-and-mortar store in Mumbai in February 2024.

Alongside IGP, Join Ventures also runs Interflora India, a premium floral brand, and Masqa, which focuses on gourmet food products.

Celebrating India’s Textile Heritage: Jaypore Collaborates with Shobitam for New Ethnic Wear Collection

Retail & Ecommerce

Online Desk

January 20, 2025

Image of jaypore — Celebrating India’s Textile Heritage: Jaypore Collaborates with Shobitam for New Ethnic Wear Collection

Jaypore, the lifestyle brand under Aditya Birla Fashion and Retail Limited, has joined forces with Shobitam, a direct-to-consumer ethnic fashion label, to enhance its ethnic wear range and reach a broader audience.

As part of this collaboration, Shobitam’s exclusive collections, including the ‘Shobitam Vidya Balan’ series and handcrafted pure silk sarees, will now be available both in Jaypore’s physical stores and on its online platform.

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Sooraj Bhat, CEO of ABFRL’s ethnic wear division, expressed excitement about the partnership, stating, “Joining hands with Shobitam is another significant step in showcasing India’s rich artisanal traditions globally. Jaypore has always been committed to celebrating the country’s diverse crafts, and this partnership is a perfect alignment with our goal to bring the best of Indian craftsmanship to the world.”

Aparna Thyagarajan, co-founder of Shobitam, also shared her enthusiasm: “Expanding the Shobitam experience to physical stores is a major milestone for us. Collaborating with Jaypore marks a new, exciting phase. Their dedication to India’s indigenous art forms and the artisans behind them mirrors our own mission to preserve and promote India’s textile heritage.”

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In the first phase, Shobitam sarees will be featured in Jaypore’s flagship stores in HSR Bangalore, Jubilee Hills Hyderabad, and Khan Market Delhi, as well as available online. Jaypore plans to expand the availability of Shobitam’s collections across more stores in India in the near future.

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