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Nihir Parikh steps down as CEO of Nykaa Fashion!

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Nihir Parikh steps down as CEO of Nykaa Fashion!

Nykaa Fashion’s chief executive officer (CEO) Nihir Parikh has resigned from the company.

According to a filing with the BSE, Parikh cited personal commitments as the reason for his resignation. “… this is to inform that Nihir Parikh, CEO- Nykaa (link unavailable) and a senior management personnel of the company, has tendered his resignation, on account of personal commitments,” the filing said.

Continue Exploring: Ranveer Singh’s protein brand SuperYou secures funding from Zerodha’s Kamath brothers

Nihir Parikh joins Nykaa in 2015

Parikh’s resignation will be effective immediately from the close of business hours of December 5. With nearly two decades of experience, Parikh previously worked with companies like GE Healthcare and Genentech. He joined Nykaa as its chief strategy officer in 2015 and rose through the ranks to become the CEO of Nykaa Fashion in April last year.

Parikh’s resignation comes just weeks after Nykaa roped in Cars24’s former South East Asia head Abhijeet Dabas as executive vice president and business head for its fashion segment. The development also comes at a time when the company has aggressively scaled up its quick commerce play and has been piloting deliveries between 30 minutes to 2 hours for select, high-demand beauty products.

Continue Exploring: HDFC Securities cuts Swiggy rating to ‘reduce,’ raises target price to INR 470

Nykaa fashion arm’s revenue grow by 21%

Despite playing second fiddle to the beauty vertical, Nykaa’s fashion arm’s revenue grew 21.7% year-on-year (YoY) to INR 166.10 Cr in the second quarter of the fiscal year 2024-25 (Q2 FY25). Meanwhile, it trimmed its EBITDA loss by 19.2% to INR 24.4 Cr during the quarter under review from an EBITDA loss of INR 29.1 Cr in the year-ago period.

Further, Nykaa’s net profit rose 66.3% to INR 12.97 Cr in Q2 FY25 from INR 7.8 Cr a year earlier. Its revenue from operations increased 24.4% to INR 1,874.74 Cr from INR 1,746.11 Cr in Q2 FY24. However, Nykaa’s shares fell 0.95% to INR 167.50 on the BSE by the end of Thursday, December 5.

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Ranveer Singh’s protein brand SuperYou secures funding from Zerodha’s Kamath brothers

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Ranveer Singh's protein brand SuperYou secures funding from Zerodha's Kamath brothers

Bollywood actor Ranveer Singh‘s recently launched protein supplements brand SuperYou has raised Series A funding from Zerodha‘s Nikhil and Nithin Kamath.

SuperYou deals in undisclosed funding amount

The funding was received from Rainmatter Capital, the venture capital arm of Zerodha. However, the funding amount was not disclosed.

Continue Exploring: HDFC Securities cuts Swiggy rating to ‘reduce,’ raises target price to INR 470

Launched in November, SuperYou was founded under venture studio Think9 Consumer. Singh teamed up with Nikunj Biyani, the nephew of Future Group founder Kishore Biyani, to launch the venture. SuperYou currently sells protein wafers in various flavors and plans to utilize the fresh capital to scale up production and launch protein products in various categories.

“We want India to transform from a protein deficient to protein sufficient country. For this we will bring protein in different forms,” Biyani said. The co-founder added that the startup has priced its products aggressively to make it accessible to more users. SuperYou plans to invest INR 40 Cr to INR 50 Cr over time and aims to achieve INR 500 Cr revenue within the next five years.

In addition, SuperYou sells its products via its website, and platforms like Amazon, Flipkart, Zepto, Blinkit, and Swiggy Instamart. The startup’s products can also be found in offline retail stores such as Reliance Fresh, Noble Plus, WellnessForever, and 7/11 among others.

Continue Exploring: The Fern Hotels and Resorts to launch eco-friendly residency in Ayodhya

D2C Good Bug receives $3.5 Mn fund

The funding comes at a time when health and wellness-focused brands are seeing a lot of interest from investors amid rising awareness about healthy lifestyles. In November, The Good Bug, a direct-to-consumer gut health and wellness brand founded by Keshav Biyani, received $3.5 million in additional Series A funding from Sharrp Ventures, led by Harsh Mariwala. Zydus Wellness, known for Complan, has agreed to buy Naturell, the owner of Max Protein, for INR 390 crore. Additionally, last year, ITC, a major FMCG company, acquired Yoga Bar.

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HDFC Securities cuts Swiggy rating to ‘reduce,’ raises target price to INR 470

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HDFC Securities cuts Swiggy rating to 'reduce,' raises target price to INR 470

Brokerage firm HDFC Securities has downgraded Swiggy to ‘reduce’ from ‘add’, but has increased its target price to INR 470 per share from INR 430 apiece earlier.

Swiggy stocks sees 9.2% drop

This implies a downside of 9.2% from the stock’s previous close. Shares of Swiggy ended Wednesday’s trading session at INR 518.10 apiece on the BSE.

Continue Exploring: Reid & Taylor launches e-commerce site, targets additional sales on Myntra

Despite the downgrade, Swiggy’s stock continued its upward swing in Thursday’s intraday trading session and rallied over 11% to INR 576.95 on the BSE. Analysts at HDFC Securities noted that while Swiggy’s key performance indicators are improving in food delivery and quick commerce segments, it still lags behind Zomato.

However, Swiggy reported a 4.8% quarter-on-quarter rise in monthly transacting users in the food delivery segment in Q2 FY25, while gross order value grew 5.6% QoQ to INR 7,190 Cr. However, HDFC Securities said that Swiggy still underperformed Zomato across KPIs in the food delivery segment in H1 FY25. While Swiggy reported a GOV growth of 14% in the food delivery segment in H1, Zomato’s GOV jumped 24%.

Further, Swiggy’s quick commerce arm Instamart continues to lag its Zomato counterpart Blinkit in terms of both growth and unit economics. “While step up in customer acquisition is encouraging, current market price now suggests that the path to convergence in quick commerce with Blinkit is a foregone conclusion,” the brokerage said.

Continue Exploring: Abercrombie & Fitch join forces with Myntra Jabong to tap Indian market

Swiggy’s loss widens by 2%

HDFC Securities’ downgrade on Swiggy comes after the company widened its net loss sequentially by over 2% to INR 625 Cr in Q2 FY25, while its operating revenue rose 12% QoQ to INR 3,601.45 Cr. In its Q2 FY25 investor presentation, Swiggy said that it was eyeing an adjusted EBITDA profitability on a consolidated level by Q3 FY26.

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Abercrombie & Fitch join forces with Myntra Jabong to tap Indian market

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Abercrombie & Fitch join forces with Myntra Jabong to tap Indian market

American retail company Abercrombie & Fitch Co has announced a multi-year partnership with Myntra Jabong to expand its global reach in India. 

Myntra Jabong to expand via outlets, e-comm

As part of the agreement, Myntra Jabong will build a brick-and-mortar retail store presence in India, regional e-commerce sites, and branded digital storefronts.

Continue Exploring: Myntra rolls out 30-Minute to 2-Hour Delivery amid quick commerce competition

“With the strength of A&F Co.’s brands today, we are thrilled to partner with Myntra Jabong to more deeply engage with new and existing customers in India. It’s an incredibly dynamic and diverse market, and one where we see tremendous long-term potential as we continue to pursue global brand growth,” said Fran Horowitz, Chief Executive Officer of Abercrombie & Fitch Co.

Meanwhile, Myntra has established itself as a leading platform for brands looking to tap into the Indian market, with a base of 70 million Monthly Active Users and service in over 95% of the serviceable pincodes in the country. Horowitz added, “Staying close to our customers and putting them at the center of everything we do has been the foundation of our transformation and the key to our success in recent years. In Myntra Jabong, we have found a like-minded partner whose expertise and capabilities will allow us to go to market with these same strategies in India.”

Further, Nandita Sinha, Chief Executive Officer of Myntra, said, “We are delighted to bring the much-sought-after and iconic brands, Abercrombie & Fitch and Hollister, renowned for their commitment to enduring quality and exceptional comfort, to India, for our fashion-forward customers.” Myntra will apply its fashion and tech expertise to connect Abercrombie & Fitch and Hollister with India’s thriving fashion audience and help them scale in the market.

Continue Exploring: Reid & Taylor launches e-commerce site, targets additional sales on Myntra

Myntra launches M-Now to deliver in 30 minutes

Earlier, Myntra, the fashion e-commerce platform, had launched a new 30-minute to 2-hour delivery feature called “M-Now” in select areas of Bengaluru. This move was part of the company’s efforts to enhance its customer proposition and offer faster delivery options.

The M-Now feature is currently live on the Myntra app and promises to deliver products from popular brands like Mango, Lakme, Levi’s, and boAt, among others. This development comes after Myntra began testing a four-hour delivery service in four Indian cities, including Bengaluru and New Delhi, two months ago.

Meanwhile, the company’s efforts to enhance its delivery services come at a time when quick commerce players like Zepto, Zomato-owned Blinkit, and Swiggy‘s Instamart are expanding their catalogues to offer products in various categories.

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The Fern Hotels and Resorts to launch eco-friendly residency in Ayodhya

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The Fern Hotels and Resorts to launch eco-friendly residency in Ayodhya

The Fern Hotels and Resorts, known for its environmentally conscious hospitality, has announced the signing of The Fern Residency, Ayodhya. 

This greenfield project will add 63 rooms to the brand’s portfolio in Uttar Pradesh, offering modern accommodations and thoughtful hospitality for business and leisure travelers.

Continue Exploring: HyFun Foods enters Australian market with Woolworths collaboration

Fern Hotels commitment to eco-conscious operations 

Located in one of India’s most culturally significant cities, The Fern Residency, Ayodhya, will feature an all-day dining restaurant serving local and international cuisines and a banquet hall suitable for corporate events and social gatherings. Designed to provide comfort and convenience, the property aligns with The Fern Hotels and Resorts’ commitment to eco-conscious operations and quality service.

“We are pleased to introduce The Fern Residency to Ayodhya, a city of immense cultural and religious significance. This launch aligns with our mission to bring eco-conscious hospitality to key destinations across India, and we are confident this property will serve as a unique destination for both business and leisure travelers,” said, Suhail Kannampilly, Managing Director of The Fern Hotels and Resorts.

Continue Exploring: Shareholders block Gautam Singhania’s appointment as Raymond Lifestyle chairperson! 

The Fern Hotels and Resorts bring hospitality to historic city

Gopinath Samanta, Partner added, “Ayodhya holds a special place in the hearts of millions. We are proud to partner with The Fern Hotels and Resorts to bring a brand that embodies luxury, sustainability, and hospitality to this historic city.” Deepankar Samanta, from the ownership board said, “We are pleased to contribute to the growth of Ayodhya’s hospitality sector. The Fern Residency will offer guests an exceptional stay, combining modern amenities with the city’s rich cultural and spiritual heritage.”

Ayodhya, known for its historical temples, landmarks, and ghats, attracts millions of visitors annually as a prominent center for spiritual tourism in India. With its strategic location and modern amenities, The Fern Residency is positioned to cater to this influx of travelers while offering a tranquil retreat amidst the city’s vibrant heritage.

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Gautam Singhania’s appointment as Raymond Lifestyle executive chairman approved despite opposition!

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Gautam Singhania's appointment as Raymond Lifestyle executive chairman approved despite opposition!

Raymond Lifestyle Limited, a major player in India’s retail market, has named Gautam Hari Singhania as its new executive chairman, according to a report to SEBI. 

This move is part of the company’s efforts to bolster its leadership as it nears its 100th year of operations.

13.5% vote against Gautam Singhania

In a recent SEBI filing, it was disclosed that 86.85% of the 4,17,57,480 votes were in favor of appointing Singhania, while 13.15% were against. The special resolution, proposed in a Postal Ballot Notice on November 04, 2024, was approved by the necessary majority.

Continue Exploring: Crown Basmati Rice, Shryoan Cosmetics enhance market reach via Zepto 

With his extensive industry experience, Singhania is expected to drive growth and improve efficiency in his new role. Raymond Lifestyle Limited was listed on the stock exchanges on September 5 after separating from Raymond Ltd, with Singhania continuing to lead both companies.

Shareholders block Gautam Singhania’s appointment 

Earlier, Corporate governance advisory firms urged shareholders to vote against Gautam Singhania’s proposed appointment as executive chairperson of Raymond Lifestyle Ltd.

Institutional Investor Advisory Services India (IiAS) had raised concerns over several aspects of the proposal, including Singhania’s remuneration package and the company’s governance practices.

Continue Exploring: Record-breaking sales for retail, brands during ‘Black Friday’ weekend

Singhania, the chairperson and managing director of Raymond Ltd., was seeking reappointment as executive chairperson of Raymond Lifestyle for five years, starting September 1, 2024, with a minimum remuneration commitment for three years. However, the terms of his appointment had raised eyebrows, with a monthly salary ranging between INR 55 lakh to INR 80 lakh, along with allowances for medical reimbursement, leave travel, and retirement benefits, totaling an estimated INR 12.35 crore annually.

IiAS had pointed out that the resolution to appoint Singhania lacks clarity on major issues, such as commission details and performance-linked targets. Furthermore, the proposal did not specify a ceiling limit on Singhania’s total pay, which could exceed 5% of Raymond Lifestyle’s net profit, raising concerns about unchecked salary growth.

Meanwhile, Singhania is currently engaged in divorce proceedings with his wife, Nawaz Modi, who has accused him of domestic violence and misusing company funds for personal benefits. While the board has not commented on these allegations, IiAS has expressed concerns about the possible impact on the company’s governance and reputation.

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Humble Bean founders open Fast Coffee in Koramangala, plans expansion by 2025

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Humble Bean founders open Fast Coffee in Koramangala, plans expansion by 2025

Fast Coffee, a new initiative by the founders of Humble Bean, has opened its flagship outlet in Koramangala, Bangalore. 

The store aims to make responsible coffee accessible while bridging the gap between consumers and coffee producers. Built on the principles of fair and sustainable trade, Fast Coffee offers high-quality coffee rooted in sustainability.

Continue Exploring: L’Oréal India’s net income plummets to INR 487.46 Cr, revenue surges 12%

With Fast, we want to make coffee good for earth – Soomanna

Further, the menu at Fast Coffee combines global influences with local preferences, presenting a range of beverages and food options. Priced at an average of INR 600 for two, the offerings cater to a wide audience while maintaining affordability. At the launch, Co-Founder Soomanna said, “Every time you sip on your favorite brew, you’re taking part in a web of human connections that delivered that cup of coffee into your hands. With Fast, we want to make coffee that’s not just good to drink but good for the earth.”

Five outlets by 2025

However, the brand’s vision for sustainability extends beyond reusable cups and eco-friendly materials, aiming for deeper systemic changes in the coffee value chain. Fast Coffee plans to expand further, with five more outlets set to open in Bangalore by late 2025. Puja, Co-Founder added, “Fast’s tagline, Fearless, Authentic, Sustainable Together, reflects the mindset of a generation ready to embrace change and make responsible choices.”

Continue Exploring: Swiggy’s market value climbs to $14.9 Bn as shares reach all-time high

Designed for young professionals, students, and creative individuals, Fast Coffee caters to a modern, fast-paced audience passionate about sustainability and quality coffee. With its focus on responsible consumption and community, the Koramangala outlet sets the stage for a broader movement within India’s coffee culture. Fast Coffee’s flagship store invites customers to experience a space where coffee, sustainability, and community intersect.

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HyFun Foods enters Australian market with Woolworths collaboration

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Ashutosh Dubey
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HyFun Foods enters Australian market with Woolworths collaboration

HyFun Foods, a leading player in the frozen food industry, has partnered with Woolworths, Australia’s largest retail chain.

HyFun Foods on 1000 Woolworths stores

This collaboration will introduce HyFun’s hash browns to over 1,000 Woolworths stores, marking a significant step in its international expansion.

Continue Exploring: D2C kitchenware startup The Indus Valley to bag INR 23 Cr in Pre-Series round 

Under the “Your Spud Co” label, HyFun will offer its popular hash browns and tots to Australian consumers. This initiative builds on the brand’s global strategy of meeting the demand for high-quality frozen food options. Kamlesh Karamchandani, Executive Director of HyFun Foods said, “Our partnership with Woolworths is an exciting opportunity to bring HyFun Foods’ premium products to Australian households under the Your Spud Co brand.”

HyFun Foods partners with Walmart USA

This partnership follows HyFun Foods’ successful collaboration with Walmart USA, which positioned the company as a reliable partner for large-scale global retail operations. With a strong presence in the American market, HyFun Foods is now leveraging its expertise to replicate that success in Australia.

Continue Exploring: Swiggy Instamart reports INR 490 Cr revenue in Q2 FY25, achieves 135% growth

Joshua Biggs, Managing Director of Your Spud Co said, “We, at Your Spud Co, have had the privilege of working closely with HyFun to launch and pioneer Indian potatoes and frozen products into the Australian market.” The collaboration with HyFun has enabled Your Spud Co to meet the growing demand for quality potato products in Australia and solidify its reputation in the industry.

Australia’s frozen food market continues to grow, driven by increasing per capita consumption and demand for convenient food solutions. By leveraging Woolworths’ extensive retail network, HyFun Foods is positioned to meet this demand effectively.

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Crown Basmati Rice, Shryoan Cosmetics enhance market reach via Zepto

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Crown Basmati Rice, Shryoan Cosmetics enhance market reach via Zepto

The growing quick-commerce market in India is seeing notable participation from brands like Crown Basmati Rice and Shryoan Cosmetics. These brands are leveraging platforms like Zepto, Blinkit, and Swiggy Instamart to enhance their reach and cater to consumer demand for convenience.

Crown Basmati Rice closer to our customers via Q-comm – DRRK Foods

Crown Basmati Rice, the flagship brand of DRRK Foods, is now available on Zepto, Blinkit, and Swiggy Instamart. The brand plans to extend its reach to cities like Chennai, Lucknow, and Chandigarh. Vikram Marwaha, Joint Managing Director, DRRK Foods said, “We are excited to bring Crown Basmati Rice closer to our customers through Zepto, Blinkit, and Swiggy Instamart. This partnership reflects our commitment to providing premium-quality basmati rice with the convenience that today’s fast-paced lifestyles demand.”

Continue Exploring: Swiggy’s market value climbs to $14.9 Bn as shares reach all-time high

The rise of quick-commerce platforms has enabled Crown Basmati Rice to offer its premium products with near-instant delivery, fulfilling customer needs for quality and convenience. Shryoan Cosmetics, a leading name in the beauty retail industry, has partnered with Zepto to provide instant access to its products across major cities. The partnership allows customers to shop for a range of beauty products with the ease of quick-commerce delivery.

Himanshu Madnani, Co-Founder of Shryoan Cosmetics said, “At Shryoan, we focus on offering our customers the finest products and an ideal shopping experience. By partnering with Zepto, we can meet the ever-increasing expectations of customers by making their favorite cosmetics available when they want them.” Both Crown Basmati Rice and Shryoan Cosmetics are tapping into the quick-commerce model to address evolving consumer preferences in India’s retail sector.

Continue Exploring: Moody’s elevates OYO’s rating to B2, citing strong profitability and growth

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Swiggy’s market value climbs to $14.9 Bn as shares reach all-time high

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Swiggy's market value climbs to $14.9 Bn as shares reach all-time high

Shares of food tech giant Swiggy surged as much as 11.35% during intraday trading to reach an all-time high of INR 576.95 on the BSE.

Swiggy stock surges 11.35%, reaching fresh 52-week high

This marks a fresh 52-week high for the stock. The stock has been witnessing a bull run lately, with its last four trading sessions ending in the green.

Continue Exploring: CHUK takes Ayodhya’s compostable packaging solutions to the global stage

Reportedly, the company’s market capitalization stood at 1,26,472 Cr ($14.9 Bn) by 11:30 PM, with as many as 26.6 Cr Swiggy shares traded hands by then. The recent uptick in share price is attributed to Swiggy’s robust September quarter results.

Swiggy narrows net loss to INR 625 Cr

Meanwhile, Swiggy narrowed its consolidated net loss by 4.78% year-on-year to INR 625.53 Cr in Q2 FY25. Its quick commerce business wing, Swiggy Instamart, saw its operating revenue surge 135.7% to INR 490 Cr in Q2 FY25 from INR 208 Cr in the year-ago period.

Continue Exploring: HCCB unveils new Greenfield factory in Telangana with seven advanced production lines

On the adjusted EBITDA level, the company expects its business to achieve adjusted EBITDA profitability on a consolidated level in the third quarter of the financial year 2025-26 (FY26). It also anticipates achieving adjusted EBITDA break-even for its quick commerce business by the second quarter of FY27 (July-September 2026).

Further, the foodtech giant entered the bourses on November 8 with its shares listing at INR 412, an 8% premium over the IPO issue price. Notably, its stock has witnessed an upsurge of 25.75% at the previous close mark since listing.

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