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Zomato rolls out quick delivery service for B2B Hyperpure, intensifying competition

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Ashutosh Dubey
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Zomato rolls out quick delivery service for B2B Hyperpure, intensifying competition

Zomato‘s business-to-business (B2B) grocery supply vertical, Hyperpure, has launched a rapid delivery service.

Zomato’s Hyperpure to charge INR 99 for express delivery

This new service offers delivery times ranging from 30 minutes to four hours, in addition to Hyperpure’s usual next-day delivery service. The products under this rapid delivery service are priced higher, with a INR 99 fee for Express delivery.

Continue Exploring: Suditi Industries takes over kidswear retailer Gini & Joy, plans omni-channel expansion

Notably, the move is part of a larger trend in the industry, where businesses are striving to shorten delivery times to same-day or within 2-4 hours. This is driven by the growing impact of quick commerce. 

Other companies, such as Flipkart-owned Myntra, are also piloting quick delivery services. Myntra’s M-Now service offers delivery within 30 minutes to two hours in select Bengaluru

pin codes.

Similarly, FirstCry, a mother and baby care products retailer, has enabled same-day delivery in about 40 cities across India. Even beauty retailer Nykaa has launched a 10-minute delivery pilot in Mumbai. Delhivery, a logistics firm, is also planning to start an intracity third-party quick commerce logistics service.

Continue Exploring: Higher profits for FMCG leaders in quick commerce vs. retail and e-commerce!

Zomato’s Hyperpure sees 98% YoY revenue growth

Meanwhile, Zomato’s Hyperpure business saw a 98% year-on-year (YoY) revenue growth, reaching INR 1,473 crore in the September quarter. Zomato’s overall operating revenue for the July-September quarter increased by 68% YoY to INR 4,799 crore, with a five-fold jump in net profit to INR 176 crore. 

However, Hyperpure had previously come under scrutiny after Telangana food safety officials flagged concerns at one of its warehouses, including open premises and the presence of houseflies. Zomato chief executive Deepinder Goyal later clarified that the issues were addressed and the vendor was delisted from the platform.

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Suditi Industries takes over kidswear retailer Gini & Joy, plans omni-channel expansion

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Ashutosh Dubey
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Suditi Industries takes over kidswear retailer Gini & Joy, plans omni-channel expansion

Suditi Industries, a textile and garment manufacturer, has acquired Gini & Jony, a well-known kidswear retailer, for an undisclosed amount.

Gini & Jony operates through 700 sales points

Founded in 1980 by Prakash Lakhani, Gini & Jony operates through 700 sales points, including 59 standalone stores, over 70 large format outlets, and 600 distributors and dealers.

Continue Exploring: India’s Gold demand surges to 50 times production in 2023

In a board meeting held on November 14, Suditi Industries approved the acquisition of trademarks, domain names, and social media handles associated with Gini & Jony. The company plans to leverage its manufacturing capabilities to expand the brand’s presence in the Indian market. 

Meanwhile, Pawan Agarwal, Managing Director, Suditi Industries, said regarding the acquisition, “Suditi’s internal capacity to produce fabrics for over 100,000 garments per day positions us uniquely to scale Gini & Jony. This translates to roughly INR 6 crore of sales per day for the brand, highlighting the immense potential of what we can achieve by focusing our expertise and resources.”

Gini & Joy files for corporate debt restructuring in 2011

Notably, Gini & Jony had faced financial difficulties in the past, including significant debt and overdue payments to lenders. Despite Reliance Group acquiring a minority stake in the company in 2005, and Reliance Capital Ltd later holding a 22 percent stake, the brand was forced to file for corporate debt restructuring in 2011 due to slow demand and rising costs. Suditi Industries, a BSE-listed company, is engaged in textile and garment manufacturing and retails apparel under private labels like YouWeCan, Nush, and IndianInk.

Continue Exploring: Reliance Consumer boosts distributor margins following Cola market disruption

The company also offers its products through e-commerce platforms like Myntra and offline channels such as Pantaloons. In FY23, Suditi Industries reported standalone revenues of INR 92.43 crore, with a net loss of INR 10 crore. The acquisition comes at a time when the Indian kidswear market is experiencing rapid growth, driven by a burgeoning population of approximately 340 million children under 14 years old and a rising demand for branded children’s clothing.

With this acquisition, Suditi Industries aims to adopt an omni-channel approach, combining Exclusive Brand Outlets (EBOs), Large Format Stores (LFS), and e-commerce platforms to expand Gini & Jony’s footprint. Harsh Agarwal, Chief Marketing Officer, Suditi Industries, said, “There are only a handful of brands in India that serve the entire nation, and Gini & Jony was not only the first but remains the name with the highest brand recall in the space. With our omni-channel approach and the combined learnings of both teams, we aim to build a powerhouse that serves every Indian family. The legacy of Gini & Jony is irreplaceable, and we are committed to strengthening its position in the market.”

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True Diamond bags $1 Mn in seed funding led by Titan Capital, plans retail expansion

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Ashutosh Dubey
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True Diamond bags $1 Mn in seed funding led by Titan Capital, plans retail expansion

True Diamond, a leading player in the lab-grown diamond industry, has secured $1 million in seed funding led by Titan Capital.

Huddle Ventures, Zeropearl Ventures and others participate

The funding round also saw participation from prominent venture capital firms, including Huddle Ventures and Zeropearl Ventures, as well as personal investments from key industry figures. The newly acquired capital will be used to strengthen True Diamond’s team, increase its brand visibility, and create a distinctive retail experience.

Continue Exploring: India’s Gold demand surges to 50 times production in 2023

Further, the company plans to onboard jewelry consultants, designers, and sales teams, along with launching exclusive boutique outlets in Mumbai and Delhi NCR. Additionally, True Diamond aims to invest further in branding and marketing efforts to attract sustainability-conscious consumers.

To expand team, establish boutique locations – Co-founder

Meanwhile, Parin Shah, Co-Founder of True Diamond, released a statement regarding funding, saying, “Darayus Mehta, my Co-Founder and I are humbled to have earned the trust of such distinguished investors at this early stage of our brand. This funding will enable us to expand our team, establish boutique locations, and execute strategic marketing initiatives to strengthen our brand presence.”

Continue Exploring: Reliance Consumer boosts distributor margins following Cola market disruption

In addition, a Titan Capital spokesperson shared, “Lab-grown diamonds are opening up unprecedented opportunities in the jewelry market, especially in India, where consumer demand is surging year-on-year. True Diamond is well-positioned to lead this shift, offering ethically sourced, affordable luxury to a new generation of customers.” 

“True Diamond has focussed on three key pillars, garnering incredible customer love by displaying exceptional product quality, superior design, and meticulous customer service,” added Sanil Sachar, Founding Partner, Huddle Ventures.

Since starting in January, True Diamond has quickly created a catalog of 5,000 customizable designs, achieved a customer repeat purchase rate of 1.7 times, and expanded across India. The company is set for further growth, focusing on the evolving jewelry market driven by ethical and sustainable choices.

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Higher profits for FMCG leaders in quick commerce vs. retail and e-commerce!

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Ashutosh Dubey
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Higher profits for FMCG leaders in quick commerce vs. retail and e-commerce!

Consumer goods companies are bagging higher profits from quick commerce than other channels, according to top executives of companies like Colgate-Palmolive India, Godrej Consumer Products, Dabur, and Adani Wilmar.

Premiumization and lower distribution costs fuel FMCG growth

The higher margins come from increased sales of premium products, lower distribution costs, and shorter credit periods in quick commerce.

Continue Exploring: Reliance Consumer boosts distributor margins following Cola market disruption

“While quick commerce is growing eight times as fast as the rest of the company, the channel is also more profitable,” said Prabha Narasimhan, managing director at Colgate-Palmolive India to ET. “Quick commerce is margin accretive with higher premiumisation. This is because it sells large packs, premium products and has low distribution cost,” she added.

Meanwhile, Adani Wilmar, the country’s largest packaged edible oil seller, sends truckloads of edible oil directly from its warehouse to quick commerce warehouses every three to four days. This allows the company to save on distributor margins, which it passes on in part to quick commerce for promotions. Angshu Mallick, managing director at Adani Wilmar, said, “The cost of servicing goes down with direct supplies. We are able to compete well, whereby we have almost 50% market share in edible oil in quick commerce.”

Continue Exploring: Quick commerce delivery workers ‘out-earn’ food delivery counterparts

Q-comm lower credit periods drives higher profit

Interestingly, Quick commerce operators have lower credit periods of one to two weeks, compared to traditional distributors, which can stretch to 30 days. This helps manufacturers avoid cash crunches and delays in supplies. Mohit Malhotra, chief executive of Dabur India told, “It’s not possible for them (distributors) to supply the entire assortment that may be required by quick commerce players.” Dabur has started direct supplies to warehouses of Swiggy Instamart, Blinkit, and Zepto.

Further, Malhotra added that the company’s margins are 100-200 basis points (1-2 percentage points) higher in quick commerce compared to ecommerce marketplaces. “And, moreover, compared to general trade also, our margins are higher because we sell larger packs to them. Terms of trade are (also) better compared to modern trade,” he concluded.

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India’s Gold demand surges to 50 times production in 2023

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Ashutosh Dubey
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India's Gold demand surges to 50 times production in 2023

India’s gold production in 2023 was 15.1 tonnes, while demand for gold was 747 tonnes, 50 times more than the supply, according to a report released by the UK-based The Gold Bullion Company.

India’s Gold demand reaches 747 tonnes

With a population of over a billion, India has a substantial demand for gold, amounting to more than 747 tonnes in 2023, made up of jewelry and gold bar demand. This works out to roughly 0.52 grams per person.

Continue Exploring: NCLAT rejects INR 3.7 Cr insolvency petition against Amazon Wholesale

Meanwhile, Turkey follows behind in second place, with mine production in 2023 standing at 36.5 tonnes, which is six times lower than the demand of 201.6 tonnes. Gold demand in Turkey has also been rising, going from 1.13 grams per person in 2021 to 1.43 grams in 2022 and 2.34 grams in 2023. China rounds out the top three, with a yearly gold demand of 909.7 tonnes. Although the mine production figure is the highest seen in all 10 countries, it still falls short of the demand by two times.

Sustainable metal production lead to long-term cost efficiency- MD

Following the surge in demand, Rick Kanda, Managing Director of The Gold Bullion Company said, “Sustainable metal production is vital for environmental, economic, and social reasons. Environmentally, it helps conserve finite resources, reduces energy consumption, and minimises pollution, mitigating climate change and protecting ecosystems.”

Continue Exploring: PhonePe’s Pincode pilots 20-minute quick delivery service, challenges Zepto, Blinkit

He added, “Economically, sustainable practices lead to long-term cost efficiency, cater to the growing market demand for eco-friendly products, and ensure compliance with stringent environmental regulations. Socially, these practices protect community health by reducing pollution and upholding ethical labour standards, providing fair wages and safe working conditions.”

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Reliance Consumer boosts distributor margins following Cola market disruption

By
Ashutosh Dubey
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Reliance Consumer boosts distributor margins following Cola market disruption

Reliance Consumer Products (RCPL) is offering higher margins to its distributors and trade partners to incentivize them to stock up and promote its portfolio of groceries and daily essentials.

RCPL offers 6-8% margin, twice industry average

The company is providing margins of 6-8%, which is nearly twice the industry average of 3-5%. This move is part of RCPL’s strategy to disrupt the market and gain a competitive edge.

Continue Exploring: Curefood goes global, opens Sharief Bhai outlet in Dubai

Notably, large consumer goods firms such as Britannia, Hindustan Unilever, Reckitt, Coca-Cola, Parle, and Nestle typically offer margins of between 3% and 5% to distributors and trade. RCPL’s higher margins are aimed at encouraging its trade partners to push its products, which include edible oils, staples, and pulses under its Independence brand, as well as Glimmer beauty soaps, Puric hygiene soaps, Alan Bugles snacks, and Snactac biscuits.

“Reliance Consumer Products is replicating the strategy it began with (cola brand) Campa to all categories it is present in… it is a disruptive strategy and works to incentivise the supply chain, more so for new entrants,” said an executive with direct knowledge of the matter to ET. “The company is offering these trade margins starting with smaller markets and plans to scale up distribution in metros over the coming quarters.”

RCPL products prices are 20-40% cheaper than rivals

However, the trade-level disruption is on top of the pricing strategy that the company is following. Almost all RCPL brands are priced 20-40% cheaper than rivals, setting the stage for a price war in the near term.

Continue Exploring: PhonePe’s Pincode pilots 20-minute quick delivery service, challenges Zepto, Blinkit

“After Reliance’s play in FMCG goes national, margins for the industry in general are bound to increase. Almost all daily essentials categories, from soap and biscuits to staples, are seeing heightened competition from regional players, so terms of trade become even more crucial, which all large category players want to protect,” said another executive at a large distributor platform.

Meanwhile, Coca-Cola and PepsiCo are offering bigger trade promotions in some areas to counter Campa’s lower prices, according to an executive. RCPL sells Campa for INR 10 per 200 ml bottle, while Coca-Cola and PepsiCo sell 250 ml bottles for INR 20. RCPL focuses on higher margins in general trade channels like neighborhood kirana stores, which make up 85-90% of sales in tier-2 and smaller markets. For now, Mukesh Ambani’s consumer business has a limited presence on quick-commerce platforms.

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Quick commerce delivery workers ‘out-earn’ food delivery counterparts

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Ashutosh Dubey
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Quick commerce delivery workers ‘out-earn’ food delivery counterparts

Delivery executives working for quick-commerce platforms earn more than those delivering food, revealed a recent report .

Morgan Stanley states Q-comm delivery man earn INR 21,402

This reflects the rapid growth of quick commerce, which is transforming consumer buying behavior and benefiting gig workers. According to a report by Morgan Stanley, delivery partners in quick commerce earn a net income of INR 21,402 a month, compared to INR 18,595 for their food-delivery counterparts.

Continue Exploring: PhonePe’s Pincode pilots 20-minute quick delivery service, challenges Zepto, Blinkit

The report also states that a quick-commerce delivery partner completes 533 orders per month, nearly 30% more than the 411 orders for food delivery. “In terms of cost structure, quick commerce’s costs are better than food delivery due to its lower last-mile cost. This is partially offset by other costs pertaining to mid-mile, partner commission for running franchisee stores and lease costs for renting out warehouses and dark stores,” the report published on November 13 said.

Faster turnaround helps Q-comm delivery man

According to Zomato‘s latest shareholder letter, its quick commerce arm Blinkit had 127,000 monthly active delivery partners on average in the quarter ended September 30. The average delivery time for a quick commerce order is 10-15 minutes, compared to 30-40 minutes for food delivery.

Continue Exploring: CCI approves Google’s Alphabet acquiring stake in Flipkart

This faster turnaround helps quick commerce delivery partners to do more deliveries per hour. In quick commerce, the delivery distance per order ranges from 2 km to 3 km, compared with 5-7 km for food delivery.

“The last mile delivery architecture is simpler for quick commerce (one to many) than for food delivery (many to many), which makes it possible for a higher number of deliveries per hour for quick commerce,” the report said. 

Meanwhile, the quick commerce market in India is expected to be worth $42-55 billion by 2030, as per the report. The sector is seeing increased competition, with players like Blinkit, Swiggy Instamart, and Zepto facing new entrants such as Flipkart, Tata Group, and Amazon. 

Rivalry among the top three has escalated as they aggressively expand their dark store networks. Blinkit opened 152 new dark stores in the second quarter, bringing its total to 791 as of September 30. According to ET, more than 1 billion of kirana sales are expected to move to quick commerce in 2024, as per e-commerce consultancy Datum Intelligence.

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Curefood goes global, opens Sharief Bhai outlet in Dubai

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Ashutosh Dubey
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Curefood goes global, opens Sharief Bhai outlet in Dubai

Curefoods has expanded its brand globally by opening its first Sharief Bhai outlet in Dubai, UAE.

Curefood to serve handcrafted Dakhni flavors from Deccan

Located in the iconic BurJuman Mall, Sharief Bhai aims to introduce Dubai’s diverse community to authentic Dakhni cuisine. The brand is celebrated for its unique, handcrafted Dakhni flavors that capture the essence of India’s Deccan region.

Continue Exploring: Bikaji Foods International extends funding period to three months for US subsidiary

From biryanis infused with signature spices to succulent kebabs, every dish is crafted to bring the homely, aromatic warmth of Dakhni food to the table. This Dubai opening marks a significant milestone, reflecting Curefoods’ commitment to sharing Indian culinary traditions on a global stage.

Sharief Bhai to bring Indian flavors globally – Founder, Curefoods

Meanwhile, Ankit Nagori, founder of Curefoods, said, “Dubai is an incredibly dynamic city with a cosmopolitan food culture, and we are thrilled to introduce the authentic taste of Dakhni cuisine to the UAE. Sharief Bhai’s expansion to Dubai represents a major step forward in our journey to bring the heart of Indian flavors to the world. We’re excited to see how Dubai’s diverse community embraces our flavors and becomes a part of our story.”

Continue Exploring: Health Minister Rane announces revamped hygiene rating for Goa’s eateries

Dubai’s vibrant food culture, known for its international cuisines, makes it a perfect launchpad for Sharief Bhai’s signature dishes. Each recipe is curated from age-old family secrets, ensuring that every dish served resonates with the warmth of home-cooked meals. The BurJuman Mall, one of Dubai’s top retail and leisure destinations, offers a unique ambiance inspired by the heritage of Dakhni culture, giving patrons an immersive dining experience.

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NCLAT rejects INR 3.7 Cr insolvency petition against Amazon Wholesale

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Ashutosh Dubey
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NCLAT rejects INR 3.7 Cr insolvency petition against Amazon Wholesale

The National Company Law Appellate Tribunal (NCLAT) has dismissed a plea seeking to initiate insolvency proceedings against Amazon Wholesale (India). 

This decision comes after Multiplier Brand Solutions, a vendor, filed a petition alleging Amazon defaulted on payments of INR 3.7 Cr for eight invoices raised between March 2023 and May 2023.

Continue Exploring: CCI approves Google’s Alphabet acquiring stake in Flipkart

Amazon accused by brands of unpaid services

Multiplier Brand Solutions claimed that Amazon failed to pay for services provided under a “novation and substitution agreement” signed in 2021. However, Amazon disputed the amount, citing allegations of fake data submitted by the firm for a separate project. The NCLAT upheld the previous order passed by the National Company Law Tribunal (NCLT), which also dismissed the plea, stating that the claim was “disputed much before demand notice was issued”.

Further, the Appellate Tribunal stated, “The adjudicating authority (NCLT) has not committed any error in refusing to initiate CIRP (Corporate Insolvency Resolution Process), there being (a) pre-existing dispute which is reflected with the correspondence which took place between the parties much prior to issuance of demand notice.” This decision brings relief to Amazon, which has been facing heavy regulatory scrutiny in India lately.

Continue Exploring: Tata Cliq reports 42% sales drop to INR 247 Cr, attributes decline to exit from electronics

Amazon Wholesale India narrows loss to INR 344.7 Cr

Notably, Amazon Wholesale (India) is the B2B arm of the ecommerce major, supplying products from various brands in bulk to third-party vendors. The B2B vertical narrowed its loss by 34% to INR 344.7 Cr in the financial year 2023-24 (FY24) from INR 615.7 Cr in the previous year. Revenue from operations declined 0.6% to INR 3,576.7 Cr during the fiscal year under review from INR 3,600.5 Cr in FY23.

Earlier in September, the Competition Commission of India (CCI) found Amazon, along with Flipkart, guilty of flouting competition laws by giving preference to certain sellers on its platform. The Enforcement Directorate (ED) also conducted raids at multiple sellers linked to Amazon India for violating foreign exchange laws.

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CCI gives nod to Temasek investment in Rebel Foods

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Ashutosh Dubey
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CCI gives nod to Temasek investment in Rebel Foods

The Competition Commission of India (CCI) has given the nod for Temasek, through its wholly-owned subsidiary Jongsong Investments, to acquire a stake in Rebel Foods.

Temasek subsidiary Jongsong Investments acquires stake

In a statement, the competition watchdog said that the companies proposed Jongsong subscribing to compulsorily convertible preference shares of Rebel Foods and acquiring equity shares of the cloud kitchen unicorn.

Continue Exploring: Bikaji Foods International extends funding period to three months for US subsidiary 

“CCI approves the proposed acquisition of shares in Rebel Foods Private Limited by Jongsong Investments Pte. Ltd,” the regulatory watchdog said in a statement.

Earlier this year, reports said that Temasek was looking to acquire a significant stake in Rebel Foods via a mix of primary equity infusion and secondary share sale. Notably, Rebel Foods is mulling a public listing within the next 12-18 months. 

Early investors to bail out from Rebel Foods

Before that, early investors including Coatue Management, Lightbox, and Peak XV Partners are said to be looking for partial exits. Their combined 20-25% stake is expected to be acquired by Jongsong Investments for approximately $180-200 Mn. Following the transaction, Temasek will emerge as Rebel Foods’ largest shareholder.

Continue Exploring: Tata Cliq reports 42% sales drop to INR 247 Cr, attributes decline to exit from electronics

Currently, the startup’s founders hold a 12% stake in it, while Qatar Investment Authority owns about 10%. Founded in 2011 by Kallol Banerjee and Jaydeep Barman, Rebel Foods operates multiple quick-service restaurant (QSR) brands such as Behrouz Biryani, Ovenstory Pizza, The Good Bowl, SLAY Coffee, and Wendy’s. The startup primarily generates revenue through the sale of food items via its own cloud kitchens and third-party kitchens.

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