Virgio and Ola Electric Bring Sustainable Fashion Deliveries to Your Door
Virgio, a leading name in sustainable fashion, has teamed up with Ola Electric to offer eco-friendly doorstep deliveries for the festive season.
Virgio Teams Up with Ola
Customers who place prepaid orders by December 25, 2024, will have their purchases delivered using Ola Electric’s sustainable scooters and will also have the chance to receive a full refund on their orders.
Amar Nagaram, founder and CEO of Virgio, shared that the brand aims to ensure that the spirit of giving during the holidays benefits both people and the planet. He emphasized that this collaboration with Ola Electric during Christmas is a reminder of how mindful decisions can bring added meaning to the season’s festivities.
ICB’s Unique Craft Beer Experience Takes Bengaluru by Storm
Bengaluru has a new destination for craft beer enthusiasts with the launch of ICB-Indian Craft Brewery, a sprawling microbrewery located in the heart of Manyata Tech Park, Nagavara.
Spanning over 1,500 seats and two acres, ICB aims to offer an immersive beer experience that blends India’s ancient brewing traditions with modern craft techniques, creating a distinctive atmosphere and flavor profile unlike any other in the country.
An Aim to Revolutionise the Craft Beer Scene
ICB-Indian Craft Brewery sets out to revolutionize the craft beer scene in India by drawing on the nation’s rich culinary and cultural heritage. Co-founder Gopi Chand Cherukuri highlighted the brewery’s commitment to offering a truly unique experience, stating, “We’ve brought together a team of experienced brewmasters, including a renowned Costa Rican master brewer, and culinary experts, such as a former master chef from ITC Hotels, to create exceptional flavors that are both globally appealing and deeply connected to India’s roots.”
One of the key features of ICB is its thoughtfully designed “zones” that encourage visitors to engage with different aspects of the brewery’s philosophy—COAST, which stands for Culture, Opinion, Art, Sustainability, and Taste. These zones aim to evoke a deep connection to the brewery’s Indian heritage while offering a modern, sensory experience. The first zone is already operational, and the second is slated to open in January 2025.
ICB’s Beers are Backed by Solid R&D
ICB’s beers are the result of extensive research into India’s diverse culinary traditions and its cultural legacy. To further enhance its offerings, the brewery has established a research and development hub in Belgium, driving innovation in craft brewing. One of the standout creations will be a series of premium non-alcoholic beers named after the legendary mathematician Ramanujan, a tribute to India’s intellectual history.
Shein Returns to India: Reliance Retail Tests the Waters on Ajio
Reliance Retail has quietly initiated a test run for the return of Shein in India, collaborating with its fashion platform, Ajio.
Four Years After Getting Banned, Shein Makes a Big Comeback
This move comes over four years after the Indian government imposed a ban on the Chinese fast fashion brand. Shein has started uploading its casual women’s western wear collection on Ajio, with plans to gradually expand to other platforms, according to a source familiar with the development. However, there are no fixed dates yet for a full-scale launch.
Now based in Singapore, Shein is aiming to challenge established players in India’s affordable fashion market, including Tata Group’s Zudio and Flipkart-owned Myntra. Last year, Reliance Retail Ventures entered into a partnership with Shein to offer the brand’s fast fashion products through its Indian platforms.
OYO Acquires Motel 6 and Studio 6 Brands for USD 525 Million, Expanding Global Reach
OYO has officially completed its acquisition of Motel 6 and Studio 6 brands from Blackstone Real Estate for USD 525 million, marking a key moment in the company’s global expansion, OYO announced on Monday.
The deal, initially agreed upon on September 20, involved an all-cash transaction for G6 Hospitality, the parent company of the two hotel brands.
OYO Makes a Significant Acquisition
This acquisition is expected to significantly boost OYO’s earnings before interest, taxes, depreciation, and amortization (EBITDA), with a projected increase of over Rs 2,000 crore for the fiscal year 2025-26. Motel 6 is anticipated to contribute more than Rs 630 crore to this growth.
With the addition of around 1,500 franchised hotels in the US and Canada, OYO’s North American presence is set to expand further. The acquisition is projected to result in a gross booking value of approximately USD 3 billion, with Motel 6 contributing about USD 1.7 billion, according to OYO’s statement.
OYO’s Growing Footprint
Since launching in the US in 2019, OYO has been steadily growing its footprint in the region. “This acquisition marks a pivotal shift in OYO’s global operations. With the strong brand recognition of Motel 6 in the US, we are confident this deal will drive significant value for OYO,” said Ankit Tandon, OYO’s Global CBO and Head of M&A.
OYO’s recent financial performance has been strong, including its first-ever profit after tax of around Rs 229 crore in the fiscal year 2023-24 and a profit of Rs 132 crore in Q1 of 2024-25 “We’ve seen great support from Blackstone as investors in G6 Hospitality. Their strategic direction has set us up for success, and with the US market offering so much potential, this acquisition is a major step for OYO’s growth,” said Rakesh Prusti, Group General Counsel at OYO.
Poco Aims for Top 5 Spot in India’s Smartphone Market with Offline Expansion
Poco, the sub-brand of Xiaomi, is looking to ramp up its offline presence as part of a broader strategy to increase its market share and compete with the top smartphone brands in India over the next few years.
The company’s goal is to secure a place in the top five players in the market within the next three to four years, with an emphasis on achieving double-digit growth, according to Himanshu Tandon, Country Head of Poco India.
Poco Sees Incredible Growth
Tandon explained that the company has already seen impressive growth, with a more than 110% increase over the past two years, propelling Poco from the 10th to the 6th position in India’s smartphone market. According to International Data Corporation (IDC), Poco captured a 5.8% market share in Q3 2024, with a 6.5% year-on-year growth in shipments.
“We began as an online-first brand, primarily focusing on Flipkart until 2023,” Tandon said. “This year, we’ve expanded to Amazon as well. On the offline front, we’ve partnered with Jio for distribution.” Poco currently has a 70:30 sales ratio between online and offline channels, but the brand is steadily growing in both spaces.
Poco Faces Challenges from Industry Groups
While Poco’s growth has been strong, the company is facing challenges from some industry groups. Retailers like the All India Mobile Retailers Association (AIMRA) and the Confederation of All India Traders (CAIT) have raised concerns about the brand’s alleged collaboration with e-commerce giants like Amazon and Flipkart, accusing them of unfair pricing practices that hurt offline retailers and lead to grey market sales. These practices, they argue, deprive the government of tax revenue and distort the market.
Despite the controversies, Poco’s diverse product lineup, including the budget-friendly C-series, the M-series, the performance-focused X-series, and the premium F-series, is expected to continue driving its growth across both online and offline channels.
Mindgrove Technologies Raises ₹64 Crore to Drive Semiconductor Innovation
Chennai-based Mindgrove Technologies, a fabless semiconductor design startup, has secured ₹64 crore (roughly $8 million) in its Series A funding round.
The investment was jointly led by Rocketship.vc and Speciale Invest, with additional backing from Mela Ventures and returning investors, including Peak XV Partners, Nishchay Goel, Whiteboard Capital, and Anshul Goel.
Semiconductor Startup Bags Major Investment
This comes after Mindgrove raised $2.35 million in seed funding earlier in 2023, supported by Peak XV Partners (formerly Sequoia Capital India & Southeast Asia), Speciale Invest, and Whiteboard Capital.
Founded in 2022 by Sharan Jagathrakshakan and T.R. Shashwath, the startup operates under the incubation of IITM Pravartak Technologies Foundation and IIT Madras Incubation Cell. Mindgrove specializes in developing advanced and scalable system-on-chips (SoCs) under its Mindgrove Silicon brand, targeting customers in India and abroad.
Top Executive Opines on the Investment
CEO T.R. Shashwath explained, “We collaborate with OEMs to provide SoCs accompanied by clear, accessible documentation such as data sheets and user manuals. This helps reduce both the time and cost of product development.”
With its latest funding, the company plans to strengthen its team across business, engineering, product, and application roles to drive growth and continue pushing innovation.
Italian Elegance Meets Kolkata Charm at Fabbrica Originale’s Newest Flagship Outlet
Fabbrica Originale has opened its newest flagship restaurant on Kolkata’s iconic Park Street, marking a major step forward for the brand.
Since its founding in 2017, what began as a simple pizzeria has evolved into a beloved dining destination, known for its authentic cuisine and welcoming atmosphere. The Park Street outlet promises a refined experience that combines the charm of tradition with a modern touch.
Fabbrica Originale Opens a New Flagship Outlet
Spread across 3,000 square feet with seating for 94 guests, the new location is a visual treat. Its design merges vintage European elegance with contemporary flair, creating a space that is both stylish and cozy. Whether it’s an intimate dinner or a grand celebration, the ambiance is crafted to suit every occasion, the company shared in a statement.
“Fabbrica Originale has always been about more than just food—it’s about creating memorable experiences,” said Naman Dhandhania, co-founder of Fabbrica Originale. “With our Park Street outlet, we’re aiming to transport guests to Italy, not just through our menu but through the entire dining journey. Every detail, from the flavors to the atmosphere, reflects our dedication to Italian culinary tradition.”
New Menu Stays True to Roots
The Park Street menu stays true to the brand’s Italian roots, featuring a handpicked selection of classic dishes that capture the spirit of Italy. The new outlet also introduces a cocktail menu centered around aperitifs, adding a fresh layer to the dining experience.
Founded by three friends with a shared passion for Italian cuisine, Fabbrica Originale has become a name synonymous with quality and authenticity in Kolkata’s food scene. With locations on Allenby Road, City Centre, and now Park Street, the restaurant continues to win hearts with its blend of timeless recipes and innovative techniques. More than just a place to eat, Fabbrica Originale celebrates the essence of Italian culture and culinary artistry.
Luxury Goes Local: How Smaller Towns Are Driving India’s High-End Market
Luxury brands like Gucci and Louis Vuitton are no longer confined to India’s major cities. High-end shopping trends are now thriving in smaller towns and less-urbanized areas across the country.
Tata CLiQ Luxury has seen some noteworthy purchases this year, including pre-owned Rolex watches in Ajmer and Nagpur, Mulberry handbags in Nadiad and Aligarh, and Bvlgari products in Etah and Karimnagar. These examples highlight the expanding reach of luxury e-commerce.
E-commerce Transforms Luxury
“E-commerce has transformed the luxury market by making it more accessible,” said Gopal Asthana, CEO of Tata CLiQ. “On our platform, about 55% of total revenue now comes from non-metro markets.”
Even Tata CLiQ Luxury’s TimeVallee portfolio, which features prestigious brands like Cartier, IWC, Jaeger-LeCoultre, Panerai, and Piaget, generates roughly 40% of its sales from smaller cities. “The increasing demand underscores the evolving aspirations of Indian consumers while also reaffirming our commitment to bringing premium brands to every corner of the country,” Asthana added.
Small Towns Increasingly Important
The shift isn’t limited to Tata CLiQ. Neeraj Walia, managing director and CEO of Montblanc India, revealed that online sales from smaller towns have doubled compared to last year. “We’re seeing customers in cities like Ranchi, Kanpur, Guwahati, and Gwalior purchasing limited editions and exclusive products,” he said. “Currently, we serve over 320 cities online—a significant jump from the 230 cities we reached just 18 months ago. Leather goods, in particular, are performing exceptionally well.”
Zomato Joins Sensex 30: A Landmark Moment for Indian Startups
Zomato, led by CEO Deepinder Goyal, achieved a significant milestone on Monday, becoming the first Indian startup to join the prestigious Sensex 30, the Bombay Stock Exchange’s index of India’s top 30 companies.
The food delivery giant replaced JSW Steel Ltd, signaling a shift in the composition of India’s leading stock market index.
Zomato’s Major Milestone
This change, effective December 23, brought in estimated inflows of approximately ₹4,362 crore ($513 million) for Zomato, while JSW Steel experienced outflows of around ₹2,143 crore ($252 million). The inclusion of Zomato marks a pivotal moment, with tech-driven businesses making their presence felt alongside traditional industries in India’s financial ecosystem.
Zomato’s stock performance in the months leading up to its Sensex debut has been remarkable. Over the last six months, the company’s share price rose by 38-43%, with annual gains of 114-126%. As of December 23, Zomato’s market capitalization stood at a staggering ₹2.64 lakh crore.
Zomato’s Strong Financial Performance
The company’s strong financial performance further solidifies its market leadership. In the second quarter of the fiscal year, Zomato reported revenue of ₹4,799 crore, reflecting a 68.5% increase from ₹2,848 crore in Q2 FY24. Even more notable was its net profit, which soared to ₹176 crore—a nearly fivefold jump compared to the same period last year.
By contrast, its closest competitor, Swiggy, reported a net loss of ₹625 crore on revenue of ₹3,601 crore during the same quarter, underscoring Zomato’s dominance in the food delivery space. This historic Sensex inclusion highlights the growing prominence of tech-driven startups in shaping India’s economic future.
India’s Love Affair with Biryani: Swiggy’s Year in Numbers
Swiggy’s 2024 year-end report paints a fascinating picture of India’s food ordering habits, showcasing some remarkable trends. (All statistics refer to data collected between January 1, 2024, and November 22, 2024.)
The Nation’s Most Ordered Dish
Unsurprisingly, biryani has retained its crown as the nation’s most-ordered dish on the platform. This year alone, Swiggy facilitated an incredible 83 million biryani orders, which translates to roughly 158 biryanis being ordered every single minute—or about two every second. Coming in second place was dosa, with an impressive 23 million orders.
Delving deeper into biryani’s dominance, chicken biryani emerged as the clear favorite, racking up 49 million orders. Southern India was the driving force behind these numbers, with Hyderabad leading the pack. The city accounted for a whopping 9.7 million biryani orders, followed by Bengaluru at 7.7 million and Chennai at 4.6 million.
What Made Biryani So Popular
Late-night cravings also contributed significantly to biryani’s popularity, as it became the second most-ordered item between midnight and 2 am, trailing only chicken burgers. Train passengers couldn’t resist the allure of biryani either, with Swiggy’s collaboration with IRCTC enabling seamless deliveries to travelers across India.
During Ramadan 2024, the demand for biryani skyrocketed further, with over 6 million plates ordered via Swiggy during the holy month. Hyderabad again claimed the top spot, with over a million plates ordered during this time alone. A quirky detail from the report highlighted one dedicated foodie in Kolkata who kicked off the year with a biryani order at precisely 4:01 am on January 1, 2024.
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