“Coolberg’s eight-year journey is a true reflection of how consumer preferences are changing towards quality and taste. We aim to reach the INR 100 crore brand by FY 2025 – 2026,” said Salloni Ghodawat, Director and Chief Operating Officer, Ghodawat Consumer Ltd. Coolberg’s products are now widely available, sold in over 50,000 locations across 150 cities and exported to more than 15 countries.
Coolberg expands through quick commerce
Interestingly, Coolberg is also available at popular Indian fast-food chains like KFC, Barbeque Nation, and Wow! Momo. Additionally, it can be found on quick commerce platforms such as Blinkit, Zepto, Swiggy Instamart, Flipkart Quick, and Amazon.
Titan Company premiumizes watch line, base price now INR 3,000
Titan Company is pushing the boundaries of price for its flagship watch business, with the base price moving up to INR 3,000 per watch, from about INR 2,000 within two years. This move is part of the company’s strategy to premiumize its watch business.
Premiumisation has now reached deep – MD, Titan
While talking to ET Retail, managing director CK Venkataraman said, “Premiumisation has now reached deep; customers are buying a INR 50,000 watch even in small markets like Satna or Katni. If you look at every research study, they point to a rising share of income classes in the country…See the homes that are being advertised, the cars that are being advertised-you can see it there.”
Consumer categories across India have been exhibiting divergent growth trends, with rising sales of premium goods across watches, smartphones, apparel, and cars compared to last year.
However, Titan reported a 23% drop in net profit from a year earlier in the September quarter at INR 704 crore. Profit took a toll from the jewellery business, which was impacted by a customs duty cut, leading the company to sell existing stocks at lower market prices.
Revenue grew 26% year-on-year in the quarter to INR 13,473 crore. The company’s watches and wearables division, which includes Titan and Fastrack brands, reported 19% year-on-year rise in total income at INR 1,301 crore in the September quarter.
“The stock markets are on fire and people are acquiring things that symbolise their success,” Venkataraman said. The company’s wearables segment includes Titan Smart and Fastrack smartwatches, fitness trackers, and smart rings which track health metrics such as body movement and sleep. A joint venture between Tata Sons and Tamil Nadu government’s TIDCO, Titan operates over 1,110 stores across retail formats such as Helios and Titan World and SF.
“We are there in the smallest of towns, not just in the malls. We are in the typical markets of Faridabad or Ballabgarh,” Venkataraman said.
India’s watch market to grow up to $10.2 Bn by 2033
Meanwhile, the Indian watch market is expected to grow from $6.4 billion in 2024 to $10.2 billion by 2033, according to market researcher IMARC. The growth is driven by increased marketing investments by watch manufacturers, innovations, and the launch of customized watches. The mass watch segment, priced under INR 5,000, makes up 30% of the market, while the fashion segment, priced between INR 5,000 and INR 25,000, contributes nearly 21%.
The premium and luxury segment, however, is the biggest growth driver, accounting for about 49% of the market.
In India, watches made up 8% of Titan’s total sales of INR 47,624 crore in FY24.
D2C baby care brand Chicco to open 40 outlets in India by 2027, doubling turnover
Italian baby care brand, Chicco, is expanding its presence in the Indian market, with plans to double its turnover in the next three years.
Chicco reports 30% growth rate
The company has reported a high growth rate of 28-30% in 2024 compared to 2023.
According to ET Retail, Rajesh Vohra, CEO, Artsana India (parent company of Chicco), said, “We changed the gear in 2024 as compared to 2023. Our Global management also supported us with time as we should look at India differently, especially with changing customer needs and the demand for more evolved products.”
The company is eyeing to double its turnover in the next three years, Vohra added. Chicco sells products across multiple categories, with the majority of its revenues coming from the nursing and oral care segment in India, followed by travel and apparel.
Chicco targets to launch 12 stores annually
Furthermore, the brand sells its nursing and oral care products primarily via its distribution network across shop-in-shops, pharmacies, supermarkets, and more. It also sells via online marketplaces such as Amazon, Firstcry, and Flipkart, along with quick commerce platforms such as Blinkit, Zepto, and Swiggy. Chicco, which entered India in 2010, currently runs seven exclusive brand stores. The company plans to open 10-12 stores annually to reach the 40-store mark in the next three years.
“We are planning to add 10-12 stores annually. Over the next three years, we aim to have around 40 stores. The expansion will be much higher than what it is today because we need to reach the consumers directly so that they can also touch and feel our products,” said Vohra. Commenting on the investment plans to support India expansion, Vohra said that the brand has put a strong foundation for growth with more global focus on the Indian subsidy. “CAPEX has been put into place, it’s a pretty decent amount. We are looking at a good store size to maintain the look and feel of Chicco Global.”
The cost of home-cooked vegetarian and non-vegetarian thalis has increased significantly, revealed a recent report by CRISIL.
Higher tomatoes and potatoes prices drive surge
In November, the cost of vegetarian thalis rose by 7.2% year-on-year (YoY), while non-vegetarian thalis increased by 1.8%. The surge in vegetarian thali costs was driven by higher prices of tomatoes and potatoes, which account for 26% of the thali’s cost.
According to the report, tomato prices rose by 35% YoY in November, while potato prices surged by 50% due to lower yields caused by late blight infestation in Punjab, Uttar Pradesh, and Gujarat. “We expect prices of vegetables and pulses to stabilise from December as fresh supplies enter the market, providing some respite to the veg thali cost,” said Pushan Sharma, Director-Research, CRISIL Market Intelligence and Analytics.
The report also noted a 10% increase in pulse prices and a 13% rise in vegetable oil costs. However, a 11% drop in fuel costs, from INR 903 to INR 803 for a 14.2 kg LPG cylinder in Delhi, helped mitigate further increases in thali prices. For the non-vegetarian thali, a decline of around 3% in broiler prices, which account for 50% of the cost, helped curb the rise in cost.
However, the coming few months are likely to witness YoY growth in non-veg thali on account of a low base created from December 2023, said Sharma. On a monthly basis, the cost of vegetarian thali declined by 2% in November, while that of non-vegetarian thali remained unchanged, according to the report. The average cost of preparing a thali at home is calculated based on input prices prevailing in north, south, east, and west India.
Milaf Cola: Saudi Arabia's date-based drink set to challenge Pepsi & Coke
Saudi Arabia has launched a unique cola drink made from dates, touted as the world’s first soft drink made from this ingredient.
Saudi Arabia claims no sugar in Milaf Cola
Developed by Thurath Al-Madina, Milaf Cola, a subsidiary of the Saudi Arabian Public Investment Fund, claims to contain no added sugar and harnesses the health benefits of dates. This positions it as a healthier alternative to conventional sodas without compromising on flavor.
Launched at the Riyadh Date Festival, Milaf Cola, by the company’s CEO, Bander Al-Qahtani, and the Saudi agriculture minister Abdulrahman Al-Fadley. Dates are considered a superfood, packed with fiber, antioxidants, and essential minerals like magnesium and potassium. Milaf Cola is produced using the finest quality dates available locally and is known for its fibers and minerals, making it a healthier alternative to most soft drinks.
Interestingly, Milaf Cola’s star ingredient is premium dates, which are packed with fiber, antioxidants, and essential minerals. The company claims that Milaf Cola contains no added sugar and is able to harness the superfood’s health benefits. Not only does Milaf Cola have nutritional appeal, but it also complies with international standards of food safety and is eco-friendly. Using local ingredients, Milaf Cola supports sustainable production and fits Saudi Arabia’s vision for economic diversification and supporting local products.
Thurath Al-Madina to expand beverage in international market
Festival attendees were eager to sample the new alternative to traditional sugary sodas and praised its flavor, describing it as both familiar and refreshingly different. “It’s like drinking sunshine, if sunshine tasted like dates and happiness,” one festival attendee was quoted as saying. According to international media, the drink is being touted as a perfect blend of health and flavor. Thurath Al-Madina plans to expand the new beverage line and introduce the drinks in regional and international markets.
“Milaf Cola is just the beginning. We are working on a variety of products that will revolutionize how dates are consumed globally,” a company spokesperson said. With its unique blend of health and flavor, Milaf Cola is set to make a mark in the beverage industry.
Dabur India to appeal against INR 4.42 Cr tax demand from Customs Commissioner
Dabur India has received a tax demand of INR 4.42 crore from the Commissioner of Customs (Prev.), Patna.
Tax demand on IGST on imported goods
The demand includes tax liability of INR 1.06 crore, applicable interest, a penalty of INR 2.11 crore, and a fine of INR 1.25 crore. This order pertains to IGST on imported goods for the period from June 2019 to April 2024.
“The order issued by the learned Commissioner is related to IGST on import of goods for the period from June 2019 to April 2024,” the company stated in an exchange filing. Dabur India plans to appeal this decision before the appellate tribunal, confident of getting a favourable outcome. “The company will challenge the order on strong merits and is likely to get a favourable outcome in higher forums,” the company said.
The tax demand is not expected to impact the company’s financial operations and other activities. “There is no impact on the financial operations and other activities of the company due to this order. The impact (if any) will be limited to the extent of the final demand towards tax as may be ascertained along with applicable interest and penalty, if any,” the company stated.
Dabur India announces new facility in Tamil Nadu
In other news, Dabur India is setting up a INR 400-crore manufacturing facility in Tamil Nadu’s Villupuram district, marking its first venture in the southern region. The new facility aims to strengthen Dabur’s presence in South India, which currently contributes approximately 18-20 per cent of its domestic revenue.
Located in SIPCOT Tindivanam, Villupuram district, the facility will be established with an initial investment of INR 135 crore, which will increase to INR 400 crore within five years.
OreGin: India’s first Kinnow-based Gin expands market reach
OreGin, India’s first gin made from the native kinnow fruit, has carved a niche in the country’s growing retail and spirits market.
OreGin carves niche with Punjab’s Kinnow
Produced using kinnows from Punjab’s orchards, OreGin stands out for its natural composition and sustainable sourcing, offering a distinct flavor profile that blends citrus notes with juniper and fresh coriander.
Reportedly, Punjab Agro, a Punjab Government Undertaking, partnered with OreGin to utilize surplus and undersized kinnows that traditional retail channels often overlooked. Ranbir Singh, CEO of Punjab Agri Export Corporation Ltd said, “OreGin has emerged as both a friend and a partner to Punjab’s farming community. By purchasing smaller-sized kinnows, we provide farmers with a reliable buyer while adding value to the supply chain.”
The handcrafted gin is distilled in copper vessels under the expertise of master distiller Regan Henriques. Henriques, along with OreGin’s Manpreet Singh, has ensured that each batch reflects meticulous craftsmanship, balancing traditional techniques with modern innovation. OreGin is more than a spirit; it embodies transparency and sustainability. Each bottle features a QR code that allows consumers to trace the journey of the kinnow from Punjab’s farms to the distillery in Goa.
Further, the brand’s commitment to ethical sourcing and environmental consciousness resonates with evolving consumer preferences in India’s retail and hospitality sectors.
Currently available in Goa and Haryana, OreGin plans to expand its distribution to other major states across India. This initiative not only enriches the spirits industry but also supports sustainable agriculture, showcasing how the integration of business and community can yield meaningful impact.
Flipkart's EOSS kicks off Dec 7 with new app features, fast delivery
Flipkart, one of India’s e-commerce platforms, has announced its End of Season Sale (EOSS), which will start from December 7, 2024.
Flipkart to feature 10 lakh trendy styles
The sale will feature over 10 lakh trendy styles from participating brands and sellers, catering to millions of customers across India. To enhance the shopping experience, especially for Gen Z consumers, Flipkart has introduced new app features, expanded collections, and immersive video shopping experiences.
Interestingly, the revamped Flipkart app will include a new destination called ‘Play’ and advanced video commerce options, making this EOSS one of the most engaging to date. Customers can also explore over 50 product categories eligible for faster delivery through the ‘Flipkart Minutes’ service.
Flipkart opens opportunity to earn more
Additionally, the increased order volume during EOSS is expected to provide last-mile delivery personnel with an opportunity to earn supplementary income.
Highlighting Flipkart’s commitment to serving India’s diverse retail market, the sale will deliver styles to all serviceable pin codes nationwide. It will also feature discounts and promotions in collaboration with Axis Bank and Bank of Baroda on debit and credit cards, adding further value for customers during the event.
“With every new edition, Flipkart’s End of Season Sale becomes an even larger celebration of fashion and trends that brings joy to millions of our customers across India,” said Pallavi Saxena, Senior Director of Flipkart Fashion.
OYO's luxury brand SUNDAY launches overseas properties in London & Dubai
OYO‘s parent firm, Oravel Stays, has expanded its luxury hotel brand, SUNDAY, to the UK and UAE.
This move is part of OYO’s efforts to strengthen its premium property portfolio globally. SUNDAY Lansbury Heritage, a 35-room property near London’s Canary Wharf, is the brand’s first overseas property. The property is a restored Grade II listed building with a history dating back to 1628.
In Dubai, SUNDAY has launched SUNDAY Holiday International Hotel. The premium brand was originally launched in India in May 2023 as a joint venture between Softbank and Oravel Stays. Currently, there are three SUNDAY properties in India, with plans to increase to 25 by March 2025.
Our commitment to delivering value across all price points – Head of Oravel
Puneet Yadav, Head of Oravel’s UK business, stated, “Our data indicates a growing demand for premium, experience-driven accommodations. This strategic move allows us to tap into the luxury segment while maintaining our commitment to delivering value across all price points.” This expansion marks a significant step for OYO’s luxury hotel brand, SUNDAY, as it ventures into international markets.
Earlier, Global rating agency Moody’s has upgraded the corporate family rating of OYO‘s parent, Oravel Stays Limited, to “B2” from “B3” previously.
The rating agency has maintained a stable outlook for the travel tech major, which has shown significant improvement in its financial performance in recent quarters. According to Sweta Patodia, assistant vice-president and analyst at Moody’s, the upgrade is attributed to OYO’s improved profitability in recent quarters. She added that the positive numbers have significantly strengthened the startup’s credit metrics.
OYO finalises $825 Mn term loan with five-year tenure
This development came as OYO is finalizing a new $825 million term loan with a five-year tenure. A significant portion of these funds, along with the $174 million raised by OYO between June and August this year, will be utilized to repay existing loans that mature in June 2026.
ITC aims for 4,000 FPOs, connecting 10 Mn farmers in next five years
ITC is expanding its network of Farmer Producer Organizations (FPOs) with the goal of connecting one crore farmers in the next 4-5 years.
ITC’s FPO collectivization is today, at about 1,600
The company plans to achieve this by scaling up sourcing of fruits and vegetables through its platform. S Ganesh Kumar, CEO of ITC‘s Agri Business Division, stated, “This agri stack and the FPO collectivization is today, at about 1,600 and our ambition is to take it to 4,000 and 10 million farmers in next 4 to 5 years.”
Currently, ITC is present in around 22 states through FPOs and works with 20 crops. The company plans to expand and deepen its presence in states such as Madhya Pradesh, Rajasthan, Haryana, Punjab, and Bihar. ITC is also working on expanding the reach of its super app MAARS, which provides personalized advisories to farmers on weather forecasts, sales of crops at mandi prices, supply of seeds and fertilizers, and services such as soil testing and helping them get credit from banks.
Through MAARS, ITC aims to enhance agricultural practices among small farmers through technology aggregation, AI-enabled solutions, AgTech, and an e-marketplace for commodities and inputs. Ganesh Kumar said, “They get the benefits of science, the better inputs in terms of seeds and various other inputs at all the crop stages, supported with an agri tech solution MAARS,…” He added, “now farmers are also realising that technology is benefiting them and their economic activity is increasing.”
ITC’s agri business revenue stands at INR 16000 Cr
ITC is the largest corporate house working directly with farmers, helping them improve the productivity and quality of various crops. The company’s revenue from its Agri Business division was INR 16,124 crore in FY24, contributing nearly one-fifth to its total revenue. Ganesh Kumar stated, “At present, around 40 per cent of ITC’s agri procurement from relevant hubs of the 10 states where MAARS has been rolled out, is sourced through MAARS.”
Under its NexGen Agri vision, ITC is working to make small farmers aware of the impact of climate change on crop zones and durations, the need for soil rejuvenation, and the importance of crop rotation. The company is also integrating MAARS with startups to provide efficient grassroots solutions. Ganesh Kumar said, “I also believe that as we work closely with the farmer, we will be able to extend more value into that system, in upgrading their produce into residue-free, organic where there are premiums…and introduce varieties.”
ITC started the brand Aashirvaad, which is now an over INR 9,000 crore brand, by directly sourcing wheat from farmers through its e-choupal network. The company has emerged as the second-largest purchaser of wheat after government-led agencies. Ganesh Kumar stated, “These are our farm level crop connects that we have built over 23-25 years when our FMCG portfolio was launched as a back end support and over a period of this journey, it has also evolved from e-Chaupal to FPOs.”
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