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IHG Hotels to expand in India with new Vignette Collection brand

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Ashutosh Dubey
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IHG Hotels to expand in India with new Vignette Collection brand

IHG Hotels & Resorts is expanding its luxury presence in India with plans to introduce its Vignette Collection brand.

IHG hotels operates 52 hotels, mainly Holiday Inn

Currently, the group’s 52 operating hotels in India are mainly comprised of mid-market Holiday Inn and Holiday Inn Express properties.

Continue Exploring: Flipkart to create 600 jobs with new FSC centre in Indore

IHG recently signed a management agreement to launch its luxury InterContinental brand in Kodaikanal by 2028. Haitham Mattar, IHG’s Managing Director for India, Middle East, and Africa, stated, “We are seeing a shift in demand for luxury.”

While expanding its luxury offerings, IHG will continue to grow its mid-market brands. Mattar emphasised, “Holiday Inn and Holiday Inn Express continue to be the mainstay of the group, and we will open brands that are relevant to the market.” He added, “In India, which is largely a domestic-driven market, brands like Holiday Inn have a better appeal.”

IHG’s revenue per room up to 9%

Meanwhile, IHG’s Indian operations are performing well, with revenue per available room up 9% compared to 2023. Mattar noted, “The Indian market has outperformed compared to 2023… India is helping to balance the growth in the region.” This growth offsets the impact of conflicts in Jordan and Lebanon on IHG’s properties.

Continue Exploring: Japanese home furnishing retailer Nitori to debut in India, plans 289 stores by 2032

With four InterContinental hotels currently operating in India and Bangladesh, six more are in the pipeline. Additionally, IHG has two luxury Six Senses resorts in India. As IHG diversifies its Indian portfolio, it aims to cater to the growing demand for luxury accommodations while maintaining its mid-market presence.

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Luxury jewellery brand Giva registers 66% revenue growth to INR 274 Cr

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Ashutosh Dubey
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Luxury jewellery brand Giva registers 66% revenue growth to INR 274 Cr

Giva, a jewellery startup, saw a 66% surge in operating revenue to INR 274 crore, despite a 30% year-over-year (YoY) increase in losses.

Giva secures $30 mn in Series B round

The company has secured $30 million in extended Series B funding in October, building on its impressive performance in FY24. The startup’s growth is attributed to its diversification into gold and lab-grown diamond offerings, expanding beyond its initial affordable jewellery brand. The omnichannel brand operates 150 stores across India, adopting a franchise-driven model for further expansion.

Continue Exploring: Japanese home furnishing retailer Nitori to debut in India, plans 289 stores by 2032

Meanwhile, the company’s primary revenue source remains jewellery sales, with procurement costs accounting for 34% of overall expenditure. Giva allocated INR 87 crore to branding and marketing initiatives, while employee benefits expenses increased by 2.38 times to INR 50 crore.

Giva suffers losses to INR 59 cr

Despite higher customer acquisition costs and increased employee benefits, Giva’s losses expanded to INR 59 crore. However, the company’s Return on Capital Employed (ROCE) and EBITDA margin improved to -24.4% and -17.1%, respectively.

Continue Exploring: Kalyan Jewellers reports 3.3% decline in Q2 net profit to INR 130.32 Cr

Further, Giva reported INR 83 crore in cash and bank balances, with total current assets standing at INR 244 crore. The company has raised over INR 690 crore in funding across various rounds, backed by Premji Invest.

Led by Ishendra Agarwal, Giva faces competition from notable industry players like Melorra, Bluestone, and CaratLane. Despite sector challenges, including reduced gold import duties and rising gold prices, Giva aims to solidify its position in the jewellery market.

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Flipkart to create 600 jobs with new FSC centre in Indore

By
Ashutosh Dubey
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Flipkart to create 600 jobs with new FSC centre in Indore

Flipkart, India’s leading e-commerce platform, has launched a new Fulfilment and Sortation Center (FSC) in Indore, Madhya Pradesh. Spanning 1.59 lakh sq. ft., this facility aims to enhance delivery efficiency, create over 600 local jobs, and cover all pin codes in the state.

Flipkart’s Indore facility enables to dispatch 18 mn orders

The inauguration event was attended by Shri Shankar Lalwani, Honourable Member of Parliament, and Rajneesh Kumar, Chief Corporate Affairs Officer at Flipkart Group. The facility is equipped with advanced conveyor automation technology, enabling a dispatch capacity of over 18 million orders monthly.

Continue Exploring: FirstCry narrows loss to INR 62.85 Cr, revenue jumps 26.7% 

Meanwhile, Rajneesh Kumar noted, “Flipkart is committed to driving inclusive growth and digital empowerment across India. The launch of our new fulfilment centre in Indore, Madhya Pradesh along with our engagement with rural communities, reflects our dedication to fostering sustainable development and supporting MSMEs and creating new local jobs. By equipping communities with the necessary tools, market access, and a strong supply chain, we are helping them build sustainable livelihoods and play an active role in India’s broader economic development.”

Flipkart to hold workshop with NRLM 

The expansion is expected to generate over 600 jobs, including inclusive hiring initiatives for more than 100 female contractors and 11 individuals with disabilities. Flipkart also hosted a workshop in Indore in partnership with the National Rural Livelihood Mission (NRLM), targeting over 70 rural women and Self-Help Groups (SHGs).

Continue Exploring: Zepto doubles target, aims to secure $300 Mn from domestic investors

Further, Shri Shankar Lalwani praised Flipkart’s efforts, saying, “Such training initiatives will support women in achieving self-reliance and contributing to national progress.” He emphasised Prime Minister Narendra Modi’s vision of empowering women through digital proficiency to enable their economic independence.

Flipkart’s platform now supports over 42,000 sellers in Madhya Pradesh. The company’s collaborations with entities like the Madhya Pradesh Industrial Development Corporation and the Khadi and Village Industries Board underscore its commitment to fostering local enterprises and driving economic growth in the region.

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Japanese home furnishing retailer Nitori to debut in India, plans 289 stores by 2032

By
Ashutosh Dubey
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Japanese home furnishing retailer Nitori to debut in India, plans 289 stores by 2032

Japan’s largest furniture and home furnishing retail chain, Nitori, is set to enter the Indian market with its first store at R City Mall in Mumbai, scheduled to open in December 2024.

This strategic move is part of the company’s global expansion plan, aiming to strengthen its footprint in the $23.9 billion Indian home furnishing market.

Nitori aims to achieve sales of INR 1.65 lakh cr

Nitori has ambitious plans for India, targeting 289 stores by 2032 and operating 3,000 stores worldwide by the same year. The company also aims to achieve a sales goal of 3 trillion yen (approximately INR 1.65 lakh crore) by 2032.

Continue Exploring: Zepto doubles target, aims to secure $300 Mn from domestic investors

Meanwhile, Akio Nitori, Representative Director and CEO of Nitori Holdings Co Ltd, stated, “Based on our mission statement ‘To enrich homes of people all over the world,’ we are aiming to be a company where customers all over the world would feel ‘glad that Nitori is here.’ We are going to accelerate our business expansion within the Asian region, which could achieve economic growth over the long term and serve as the core of the supply chain that supports the Group.”

Further, Masanori Takeda, Executive Vice President in charge of Overseas Businesses, added, “We are accelerating our store openings within the Asian region and managed to open the first store in the Philippines in April and in Indonesia in July. Now, we are opening a store in India, where economic growth is remarkable and demand for an enriched lifestyle with furniture and interior goods is on the rise. We will continue to take on the challenge of providing the same standards of quality refined in Japan to more customers, and to deliver ‘Offering the Unexpected’ to customers all over the world.”

Continue Exploring: First airport microbrewery, Susegado of India launches at Goa’s Airport 

Notably, R City Mall, spanning 1.2 million sq. ft. with over 350 premium brands, attracts 8-10 lakh visitors monthly. Sandeep Runwal, MD of Runwal Realty, said, “We are thrilled to welcome Nitori, the Japanese home furniture giant, to R City Mall as they embark on their journey in the Indian market… Nitori’s launch marks an exciting addition that will undoubtedly enhance our shoppers’ experience, and we look forward to the delight it will bring to our patrons.”

Nitori operates in 203 locations globally

For now, Nitori operates 832 stores in Japan and 203 international locations, offering furniture, home improvement stores, furnishing outlets, and women’s apparel stores. By FY2024-end, the company aims to have 279 stores outside Japan and plans to open 200 overseas stores annually to strengthen its global position.

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Zepto doubles target, aims to secure $300 Mn from domestic investors

By
Ashutosh Dubey
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Zepto doubles target, aims to secure $300 Mn from domestic investors

Indian quick commerce startup Zepto is set to raise $300 million from domestic investors, doubling its initial target, as per sources close to the matter.

Zepto secures $1 bn earlier

This funding round comes after the company secured $1 billion in the past few months, amidst intense competition in the quick commerce market with rivals Zomato‘s Blinkit and Swiggy‘s Instamart.

Continue Exploring: Quick commerce market to reach $40 Bn by 2030, engulfs nearly half of kirana sales

According to ET, top Indian family offices and ultra-high net worth individuals (HNIs) will participate in the financing. Notable investors include the family offices of Ravi Jaipuria of RJ Corp and Harsh Goenka of RPG group, as well as the Motilal Oswal group, which has increased its investment from $40 million to over $60 million. Manipal group chief Ranjan Pai and Mankind Pharma brothers Ramesh Juneja and Rajeev Juneja are also investing in this round.

Bollywood star Amitabh Bachchan and former cricketer Sachin Tendulkar are also investing, showing strong confidence in the sector.

Indian shareholdings in Zepto at 35%

However, the quick commerce platform’s latest funding will increase Indian shareholding in the company to around 35%, including stakes held by founders Aadit Palicha and Kaivalya Vohra. The founders have been granted an additional 1% stock based on meeting performance goals. The company will sell about 6% stake at a valuation of $5 billion.

Continue Exploring: FSSAI directs e-Commerce FBOs to prevent misleading information about food products

“The round was oversubscribed, which is why they (Zepto) have increased the total offering. They will sell about 6% stake at the $5 billion valuation,” a source close to the matter revealed.

“We are doing this fundraise to start building Indian ownership in the company and deepen our relationships with high-quality domestic investors before we kick off an IPO process,” Zepto’s funding presentation.

Meanwhile, Zepto has achieved a significant milestone, surpassing 1 million daily orders. As a private player, it stands out in the market dominated by listed companies Swiggy’s Instamart and Zomato’s Blinkit.

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FSSAI directs e-Commerce FBOs to prevent misleading information about food products

By
Ashutosh Dubey
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FSSAI directs e-Commerce FBOs to prevent misleading information about food products The Food Safety and Standards Authority of India (FSSAI) held a meeting in Delhi with e-commerce Food Business Operators (FBOs) to reinforce food safety compliance. E-commerce to ensure products online claims match The meeting, led by FSSAI CEO G Kamala Vardhana Rao, focused on ensuring that any product claims made online match the information on product labels, in accordance with FSSAI’s labelling and display regulations. Continue Exploring: French patisserie Ladurée launches first store in Kolkata, India Rao stressed that e-commerce FBOs must implement practices to guarantee that food products have at least 30 percent of their shelf life, or 45 days, remaining at the time of delivery. He warned against making unsupported claims online to prevent misleading information and ensure consumers receive accurate product details. Rao highlighted the crucial role of online platforms in protecting consumer health and maintaining transparency. FBO can’t operate on e-commerce without licence Additionally, Rao reiterated that no FBO can operate on any e-commerce platform without a valid FSSAI licence or registration. He stressed further on the importance of regulatory compliance for the industry. Continue Exploring: Quick commerce market to reach $40 Bn by 2030, engulfs nearly half of kirana sales The FSSAI CEO also instructed e-commerce FBOs to provide proper training programs for delivery personnel, focusing on essential food safety and hygiene protocols. He stressed the need to deliver food items separately from non-food items to avoid potential contamination. In his concluding remarks, Rao underscored the necessity for all e-commerce FBOs to adhere diligently to food safety standards. He emphasised that a transparent, compliant, and accountable e-commerce food sector is vital for protecting consumer health and fostering confidence in digital food marketplaces. The session saw over 200 participants, both in person and online from all over the country, highlighting the strong dedication to improving food safety standards in the e-commerce sector.

The Food Safety and Standards Authority of India (FSSAI) held a meeting in Delhi with e-commerce Food Business Operators (FBOs) to reinforce food safety compliance.

E-commerce to ensure products online claims match

The meeting, led by FSSAI CEO G Kamala Vardhana Rao, focused on ensuring that any product claims made online match the information on product labels, in accordance with FSSAI’s labelling and display regulations.

Continue Exploring: French patisserie Ladurée launches first store in Kolkata, India

Rao stressed that e-commerce FBOs must implement practices to guarantee that food products have at least 30 percent of their shelf life, or 45 days, remaining at the time of delivery. He warned against making unsupported claims online to prevent misleading information and ensure consumers receive accurate product details. Rao highlighted the crucial role of online platforms in protecting consumer health and maintaining transparency.

FBO can’t operate on e-commerce without licence

Additionally, Rao reiterated that no FBO can operate on any e-commerce platform without a valid FSSAI licence or registration. He stressed further on the importance of regulatory compliance for the industry.

Continue Exploring: Quick commerce market to reach $40 Bn by 2030, engulfs nearly half of kirana sales

The FSSAI CEO also instructed e-commerce FBOs to provide proper training programs for delivery personnel, focusing on essential food safety and hygiene protocols. He stressed the need to deliver food items separately from non-food items to avoid potential contamination.

In his concluding remarks, Rao underscored the necessity for all e-commerce FBOs to adhere diligently to food safety standards. He emphasised that a transparent, compliant, and accountable e-commerce food sector is vital for protecting consumer health and fostering confidence in digital food marketplaces.

The session saw over 200 participants, both in person and online from all over the country, highlighting the strong dedication to improving food safety standards in the e-commerce sector.

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First airport microbrewery, Susegado of India launches at Goa’s Airport 

By
Shweta
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0
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First airport microbrewery, Susegado of India launches at Goa’s Airport

India’s first airport microbrewery, Susegado, has launched at Goa’s Manohar International Airport, offering travellers a taste of Goan flavours and hospitality.

Named after the Goan term “Susegad,” meaning relaxation and ease, Susegado brings a one-of-a-kind microbrewery experience celebrating Goan culture, cuisine, and craft beers.

Susegado partners with Rising Tide, Lane Nine, Radiance

Interestingly, a partnership between Rising Tide Beverages, Lane Nine Hospitality, and Radiance, Susegado spans 5,000 square feet and blends vintage Goan home decor with a sophisticated jazz bar feel. The microbrewery aims to create a relaxed environment where travellers can unwind and experience Goa’s rich heritage.

Continue Exploring: Mirah Hospitality merges with SKFS food company in INR 80 Cr deal, plans pan-India expansion

Meanwhile, Susegado’s freshly brewed beers are crafted to highlight regional ingredients. Signature brews include Poder’s Pilsner, made with upcycled Goan bread; Kokum Gose, featuring kokum extract; and an English Ale pleasing both beer enthusiasts and newcomers. These specialty brews are paired with traditional Goan dishes, allowing visitors to savor authentic flavours.

Create an airport experience that embodies spirit of Goa – IRHPL 

On the grand launch, an IRHPL spokesperson said, “We are thrilled to introduce Susegado at the Manohar International Airport with a vision is create an airport experience that embodies the spirit of Goa, offering travellers a taste of Goan culture and flavours in an environment that combines the best of local brewing with an authentic Goan vibe that is truly unforgettable.”

Continue Exploring: Sula Vineyards ltd registers record revenue of INR 271.7 cr in H1FY25, 3.7% YoY

Further, Susegado looks forward to experimenting with new beers and collaborating with Konkan breweries, exclusively available at Manohar International Airport. With its unique blend of local brewing and authentic Goan vibe, Susegado redefines airport dining, inviting travellers to begin their Goan journey from the moment they arrive.

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French patisserie Ladurée launches first store in Kolkata, India

By
Ashutosh Dubey
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French patisserie Ladurée launches first store in Kolkata, India

Ladurée, the renowned French patisserie chain, has launched its first café in India at Quest Mall, Kolkata. This new venture combines Parisian elegance with Kolkata’s vibrant coffee culture, creating a sophisticated and welcoming space.

Thrilled to bring Ladurée’s coffee shop to Kolkata – Co-founder

“We’re thrilled to bring Ladurée’s first coffee shop to Kolkata,” said Chandni Nath Israni, Managing Director and Co-Founder of CK Israni Group. “Kolkata is about civility with undying charm, where elegance easily mingles with refinement, and we are delighted that we will now be able to serve this city of joy with immeasurable delight.”

Continue Exploring: Mirah Hospitality merges with SKFS food company in INR 80 Cr deal, plans pan-India expansion

Interestingly, the Ladurée Café offers a curated selection of barista-made coffees, including signature lattes topped with miniature macarons, served in the brand’s iconic green gingham cups. Beyond coffee, guests can enjoy an exclusive range of patisseries, viennoiseries, and French savoury treats for take-away or dine-in.

Ladurée’s café concept brings French craftsmanship to India

Meanwhile, the café’s interior design blends Ladurée’s classic charm with modern café culture. The signature pastel green colour palette is enhanced with playful Vichy accents, creating a charming backdrop. A sleek, modern café and retail counter complements the Parisian elegance, making the space visually stunning and warm.

Continue Exploring: Quick commerce market to reach $40 Bn by 2030, engulfs nearly half of kirana sales

Following its success in Delhi, Gurgaon, Mumbai, and Pune with its Salon offerings, Ladurée’s café concept brings French craftsmanship to India’s café scene. With this launch, Ladurée aims to provide a unique experience, showcasing its iconic elegance and refinement in the heart of Kolkata.

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Mirah Hospitality merges with SKFS food company in INR 80 Cr deal, plans pan-India expansion

By
Ashutosh Dubey
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0
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Mirah Hospitality merges with SKFS food company in INR 80 Cr deal, plans pan-India expansion

Food services company SKFS Group has acquired Mirah Hospitality & Gourmet, owner of Rajdhani, Bayroute, and Hitchki, for INR 80 crore.

Looking to scale up the business nationally – Chairman, SKFS

While talking to ET, SKFS Group Chairman Dinakara Shetty stated, “We are looking to scale up the business nationally; we see this as a strategic acquisition to take forward our food services business, with fresh investments in upgradation of our existing outlets.” He added that the group’s existing business verticals “will align and synergise well” with the acquired brands.

Continue Exploring: Sula Vineyards ltd registers record revenue of INR 271.7 cr in H1FY25, 3.7% YoY

Further, Aji Nair, CEO of Mirah Hospitality, said, “We are looking to expand Mirah Hospitality pan-India and are exploring adding two new brands under the new ownership. Overseas expansion is also on the cards.” Mirah Hospitality operates 30 outlets and will become a 100% subsidiary of SKFS Group.

Founded over three decades ago, SKFS Group operates restaurants in hotel chains like Marriott and Ramada, and provides premium corporate catering. The INR 350-crore company aims to leverage this acquisition to strengthen its foothold in the market.

Tiger Global-backed Chaayos acquires Dohful

Recent months have seen increased deal activity in the food and beverages sector, driven by local competition and global brand influx. Notable deals include Tiger Global-backed Chaayos acquiring Dohful, and Devyani International signing franchisee deals with global cafes.

Continue Exploring: Nykaa rewards employees with 1.8 lakh equity shares under ESOP, following 66.3% jump

Meanwhile, Devyani International has secured exclusive master franchise rights for Tealive, New York Fries, and Sanook Kitchen. Tealive is a Malaysian tea chain with over 900 global outlets, while New York Fries is a Canadian multi-channel restaurant chain. Sanook Kitchen offers Thai and Asian cuisine.

According to the National Restaurant Association of India, the Indian food services market is valued at INR 5.69 lakh crore in FY24 and is projected to grow to INR 7.76 lakh crore by FY28. This growth is driven by a rising middle class, increasing dine-out propensity, and aspirational demand from tier-2 and tier-3 locations.

Further, the acquisition is expected to enhance SKFS Group’s presence in the market, while Mirah Hospitality expands its reach across India and internationally.

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Quick commerce market to reach $40 Bn by 2030, engulfs nearly half of kirana sales

By
Ashutosh Dubey
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0

Quick commerce companies are surpassing traditional retailers, with 46% of consumers reducing purchases from Kirana shops. The quick commerce market is expected to reach $40 billion by 2030, up from $6.1 billion in 2024, reveals a recent report by Datum Intelligence.

46% customers shift towards quick commerce – Datum report

“Nearly half (46%) of respondents report reduced spending at Kirana shops, indicating a shift in customer behaviour towards quick commerce platforms,” the report notes. Top quick commerce platforms in India include Blinkit, Zepto, Swiggy Instamart, and Flipkart Minutes.

Continue Exploring: Nashville Fried Chicken expands to Delhi with Massive Restaurants 

Reportedly, the report predicts that quick commerce will capture $1.28 billion of Kirana sales by 2024, accounting for 21% of total sales. “Quick commerce’s focus on speed and convenience aligns with consumers’ needs for efficient, on-demand grocery shopping experiences plays a major role in the adoption of online grocery,” it says.

82% spends 25% of grocery budget on q-commerce 

The study found that 75% of online grocery buyers have increased unplanned purchases, spending over INR 400 per order. Consumers opt for quick commerce due to its convenience and speed, facilitated by competitive pricing and eliminated intermediaries.

Continue Exploring: Rise of quick commerce is challenge to retailers, will become political issue – Uday Kotak

Kirana stores face an existential threat, with 82% of consumers shifting at least 25% of grocery spending to quick commerce. “Quick commerce has witnessed an unprecedented pace of adoption, significantly influencing consumer behaviours across the retail ecosystem… projected to experience a 74% growth in 2024,” the report states.

The report also highlights a surge in unplanned purchases, with 75% of online shoppers experiencing an increase. “The increased confidence in receiving grocery items within 10 minutes through quick commerce platforms has led to a surge in unplanned purchases.”

Conducted in October 2024, the study surveyed 3,000 adults across 10 Indian cities, incorporating expert insights and market data.

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