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JW Marriott Mumbai to introduce BarQat, eyes restaurant expansion

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Ashutosh Dubey
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JW Marriott Mumbai to introduce BarQat, eyes restaurant expansion

JW Marriott Mumbai Sahar is set to launch a new Indian restaurant called BarQat, which promises to offer an authentic and traditional Indian dining experience.

JW’s BarQat, an open-air Al Fresco restaurant

Located near the poolside, BarQat is an open-air Al Fresco restaurant that offers a unique ambiance, blending modern aesthetics with timeless tradition. The restaurant takes pride in offering its guests a culinary haven that pays homage to the rich lineage of Indian cuisine, skillfully presented by experienced chefs.

Continue Exploring: Zomato registers 7.62% shares surge to INR 284 on BSE after Sensex inclusion

According to the hotel, BarQat is committed to curating an elaborate journey through authentic spices, flavors, ancestral recipes, and traditional cooking techniques with a touch of modern presentation. The restaurant’s objective is to transport its patrons to a realm where every dish whispers tales of tradition, craftsmanship, and an unwavering passion for authentic Indian flavors.

BarQat is to transport our patrons to a realm – Chef, JW

“As a destination known for its culinary prowess, elevated service, our objective at BarQat is to transport our patrons to a realm, where every dish whispers tales of tradition, craftsmanship, and an unwavering passion for authentic Indian flavours. We look forward to welcoming guests for a royal journey through a bygone era that spells old world charm and luxury under the starlit skies at this new Al Fresco restaurant” says chef Prakash Chettiyar, director of culinary, JW Marriott Mumbai Sahar.

Continue Exploring: KRBL Ltd’s India Gate to expand portfolio with mixed spices and rice bran edible oil

The general manager of JW Marriott Mumbai Sahar, Kunal Chauhan, added, “BarQat isn’t just a restaurant, it’s a tribute to the soulful essence of Indian cuisine, where the menu is crafted with passion and reverence for tradition, promising an exquisite dining experience.”

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Zomato registers 7.62% shares surge to INR 284 on BSE after Sensex inclusion

By
Ashutosh Dubey
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Zomato registers 7.62% shares surge to INR 284 on BSE after Sensex inclusion

Zomato‘s shares surged as much as 7.62% to INR 284.30 apiece on the BSE today (November 25) after the company announced its inclusion in the BSE Sensex. 

Zomato replaces JSW Steel in Index

This development comes as part of the upcoming reconstitution of the 30-stock benchmark index, effective December 23. Zomato will replace JSW Steel in the index.

Continue Exploring: Patanjali Ayurveda reports fivefold profit surge to INR 6,460 Cr despite sales decline

According to INC42, the company’s shareholders have also approved raising INR 8,500 Cr (around $1 Bn) through a qualified institutional placement (QIP). This move is expected to provide a boost to the company’s growth plans. The shares pared some gains to trade 5.47% higher at INR 278.60 at 12:35 PM. This came after the company ended its last three trading sessions in the red.

Morgan Stanley predicts Zomato’s stock to double in 5 years

The company’s inclusion in the BSE Sensex is a significant milestone, and analysts are bullish about its prospects. Global brokerage firm Morgan Stanley has projected that Zomato’s stock has the potential to double in value within five years—or even in less than three years under a bullish scenario.

Continue Exploring: Amazon India to launch quick commerce delivery service ‘Tez’

Further, the brokerage firm maintained an “overweight” rating and a “top pick” status for the stock, underlining Zomato’s rising share of quick commerce in India’s retail market, strong execution in food delivery and quick commerce, a deep balance sheet, and a large profit pool by 2030.

Meanwhile, the food tech giant’s financial performance has also been impressive, with a 68.5% surge in operating revenue to INR 4,799 Cr in Q2 FY25 from INR 2,848 Cr in the September quarter of the previous fiscal. Its Quick commerce business Blinkit’s GOV surged 25% QoQ to INR 6,132 Cr. However, the company’s net profit slumped 30% to INR 176 Cr in the September quarter from INR 253 Cr posted in the preceding June quarter.

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KRBL Ltd’s India Gate to expand portfolio with mixed spices and rice bran edible oil

By
Ashutosh Dubey
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KRBL Ltd's India Gate to expand portfolio with mixed spices and rice bran edible oil

KRBL Ltd, the company behind the popular ‘India Gate’ basmati rice brand, is expanding its product portfolio to include mixed spices and rice bran edible oil.

India Gate aims to introduce outlets in FY26

The company has already launched its mixed biriymasala on e-commerce platforms and plans to introduce it in brick-and-mortar stores next financial year.

Continue Exploring: India’s Gen Z prefers healthy, natural skin over fairness obsession – L’Oreal CEO

According to ET, “It is already on e-commerce platforms for a year now. Now we are planning to launch it in brick-and-mortar general stores. Looking at the success of biriyani masala, we are actually creating a range of masalas, for premium market. We will launch it in the first quarter of next financial year. We will be in the spice mix category, because consumer convenience is a factor,” said one of the top management officials.

The company is also entering the edible oil market with the launch of rice bran oil in January. “It is a category where we can add value. In January, we are planning to launch it. We already produce unrefined rice bran oil at our plant, and it is a logical conclusion to process and retail it. Our retail network ecosystem in a way will complement it,” the top management said further.

Continue Exploring: Patanjali Ayurveda reports fivefold profit surge to INR 6,460 Cr despite sales decline

India Gate has become synonymous to rice provider – KRBL ltd

Further, the company believes that its India Gate brand will work in its favour as it expands into new product categories. “In 30 years, we have made such a strong brand. India Gate has become synonymous to a rice provider… Atta, spices, edible oils, and pulses are all logical extension that we see in the brand India Gate,” the top management stated.

However, KRBL is also optimistic about its basmati rice business, with the government removing the floor price on export of Basmati rice in September this year. The company has set a record paddy procurement target this season and is expecting higher exports compared to last year. “We are looking at higher export as compared to last year,” said Kunal Gupta, Head Dhuri Plant. The company is in the process of procuring about a million tonnes of paddy from farmers and is forecasting a good year.

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Patanjali Ayurveda reports fivefold profit surge to INR 6,460 Cr despite sales decline

By
Ashutosh Dubey
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Patanjali Ayurveda reports fivefold profit surge to INR 6,460 Cr despite sales decline

Baba Ramdev-led Patanjali Ayurved has reported a 23.15% increase in total income to INR 9,335.32 crore in 2023-24. The growth was largely driven by other income, which includes the sale of shares in Patanjali Foods and income from other group entities.

Patanjali’s revenue from operation at INR 2,875 Cr 

According to financial data, Patanjali Ayurved’s other income stood at INR 2,875.29 crore in FY24, compared to INR 46.18 crore in the previous year. The company’s revenue from operations, which includes income from net sales, declined 14.25% to INR 6,460.03 crore in FY24. 

Continue Exploring: Amazon India to launch quick commerce delivery service ‘Tez’

This was due to the transfer of its food business to Patanjali Foods in July 2022. The food business includes biscuits, ghee, cereals, and nutraceuticals. Despite the decline in revenue from operations, Patanjali Ayurved reported a five-fold jump in its total profit to INR 2,901.10 crore in FY24.

Patanjali shifts home & personal care to Patanjali Foods

Patanjali Ayurved’s advertising and promotional expenses also increased 9.28% to INR 422.33 crore in FY24. The company’s total expenses stood at INR 6,434.22 crore in FY24, compared to INR 6,955.44 crore in the previous year. Earlier this year, the company announced the transfer of its entire home and personal care business from Patanjali Ayurved to Patanjali Foods for a consideration of INR 1,100 crore.

Continue Exploring: Zomato gets shareholders’ approval to secure INR8,500 Cr via QIP

In July 2023, the promoters of Patanjali Foods launched an offer for sale to pare their stake in the company by around 7% to meet the minimum public shareholding requirement. Patanjali Foods, a leading edible oil maker, was acquired by Patanjali Group through an insolvency resolution process. The company posted a total revenue of INR 31,961.62 crore in FY24, compared to INR 31,821.45 crore in the previous year. 

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India’s Gen Z prefers healthy, natural skin over fairness obsession – L’Oreal CEO

By
Ashutosh Dubey
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India's Gen Z prefers healthy, natural skin over fairness obsession - L'Oreal CEO

L’Oreal global chief executive Nicolas Hieronimus believes that India’s younger generation is no longer obsessed with fair skin. Instead, they prefer brands that offer skin free of blemishes.

“Part of what we call brightening is eliminating spots that create irregularities,” Hieronimus explained to ET. This shift in mindset is a welcome change, as Hieronimus notes, “I think the young generation is changing and it’s good.”

Continue Exploring: Zomato enters into BSE’s flagship index, joins ranks of Reliance, Infosys

Historically, India has had a complex relationship with skin tone. Hieronimus points out that people working in the fields were often dark-skinned, while the nobles were untanned, leading to the belief that high society had fair skin. However, this mindset is changing, and the younger generation is more focused on achieving healthy, blemish-free skin.

Digitalisation bents perceived trends about beauty

Digitalisation has played a significant role in increasing awareness about beauty trends and products. Hieronimus notes that younger consumers, especially Gen Z, are far more conscious of what they use on their skin compared to millennials and Gen X. “Gen Zs are super experts. They are online and extremely aware of international brands, local brands, and the different routines. So, it’s accelerating,” said Hieronimus.

Continue Exploring: FM Nirmala Sitharaman: quick commerce to enhance India’s innovative image globally

L’Oreal has been present in India for three decades and has a significant market share in the hair colour segment. The company is now targeting an annual revenue of 1 billion euros in India in the next few years, when it expects the country to rank among its top 10 markets. Hieronimus believes that the stars are perfectly aligned in India, with stable politics, a dynamic economy, and a growing base of affluent middle-class consumers who are highly aware of global beauty trends.

Further, the Indian beauty market is highly competitive, with established firms like HUL and Procter & Gamble, as well as local brands like Minimalist, Sugar Cosmetics, and Plum. However, Hieronimus is confident that L’Oreal has the best cards to play, thanks to its focus on innovation and quality. “Anybody can put an ingredient in a product like salicylic acid or collagen. But consumers are more demanding about products and are not just settling for very basic things. That’s where L’Oreal has the best cards to play, and that’s where we really thrive,” he said.

L’Oreal achieves 1% annual sales growth in India

Currently, India accounts for just over 1% of L’Oreal’s annual sales of over 41 billion euros, making it the 15th largest market for the company worldwide. However, Hieronimus is optimistic about the company’s prospects in India, citing the country’s stable politics, dynamic economy, and growing base of affluent middle-class consumers. “There are 820 million internet users in India, and these people are connected. They are discovering products online in a country that is very stable and are optimistic. For beauty, confidence and optimism are very important drivers,” he said.

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Zomato gets shareholders approval to secure INR 8,500 Cr via QIP

By
Ashutosh Dubey
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Zomato gets shareholders’ approval to secure INR8,500 Cr via QIP

Food delivery platform Zomato‘s shareholders have approved the company’s plan to raise INR 8,500 crore via a qualified institutional placement (QIP).

Zomato receives nod from 99.7% shareholders

According to ET, over 99.7% of the shareholders that voted were in favour of the resolution. The company aims to strengthen its balance sheet with the fresh capital. Zomato’s founder and CEO Deepinder Goyal had said earlier, “While the business is now generating cash (vis-a-vis a loss-making business at the time of IPO), we believe that we need to enhance our cash balance given the competitive landscape and the much larger scale of our business today.”

Continue Exploring: Swiggy enters sports, acquires Mumbai team in upcoming World Pickleball League

The company’s CFO Akshant Goyal had pointed out that while the enabling resolution to raise up to INR 8,500 crore was passed by the board, the final size of the fundraise will depend on the market condition and timing of when the QIP is launched. 

Zomato holds INR 10,813 Cr cash balance

As of September 30, the company had a cash balance of INR 10,813 crore. The company’s shareholders also approved its plan to set up a trust to implement its employee stock ownership plan (ESOP).

Meanwhile, Zomato’s rivals in the food delivery and quick commerce spaces, Swiggy and Zepto, have also concluded large financing rounds recently. While Swiggy raised INR 4,499 crore through the fresh issue portion of its initial public offering, domestic investors pumped $350 million in 10-minute grocery delivery startup Zepto.

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

Further, the food tech giant reported a 68% year-on-year (YoY) increase in its operating revenue for the July-September quarter this year at INR 4,799 crore. It reported a five-fold jump in its net profit for the quarter at INR 176 crore.

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Amazon India to launch quick commerce delivery service ‘Tez’

By
Ashutosh Dubey
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0
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Amazon India to launch quick commerce delivery service ‘Tez’

Amazon India is gearing up to launch its quick commerce delivery service, code-named Tez, by late December or early next year.

Amazon eyes global debut in q-commerce with Tez

The company plans to start the service with groceries and daily essentials. With the launch of Tez, Amazon will mark its global debut in the quick commerce segment.

Continue Exploring: Edible Oil manufacturer BN Group announces $1 Bn investment for African expansion

Reportedly, the initiative will be discussed during Amazon India’s next monthly review in the first week of December, ahead of its annual Smbhav event. The company is actively working with internal and external stakeholders on the high-priority quick commerce project, sources told ET. The firm is also making fresh hires for this project. Amazon’s India grocery and essentials team described the project as a ‘greenfield, grounds-up initiative for an upcoming and fast-growing ecommerce space in India’, according to a job post.

For now, the final name for the quick commerce service is yet to be decided, sources added. According to ET, a source said, “They (Amazon) want to launch it sooner than the end of first quarter in India. Quick commerce is where all the action is if you are a meaningful consumer internet platform. They are also following the same model as others—setting up dark stores, figuring out the details of stock-keeping units (SKUs) and categories, and putting logistics infrastructure in place.”

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

Amazon prepares for grocery & essential delivery with Fresh

Further, the e-commerce major is preparing for a big launch by improving its grocery and essentials delivery service, Amazon Fresh. They are now focusing on delivering orders within 20 to 30 minutes. Previously in 2024, Amazon Fresh expanded to 130 cities, including Ambala, Aurangabad, Hoshiarpur, Dharwad, and Una, which is a huge increase from about 50 cities last year.

Meanwhile, the development comes at a time when the quick commerce segment has seen rapid growth in popularity over the last few years. The evidence shows that early players like Blinkit, Swiggy Instamart, and Zepto earned over $1 billion in revenue in FY24. A report also estimates that India’s quick commerce industry grew by 280% in the last two years. Amazon’s competitor Flipkart launched its ‘Minutes’ service. Tata‘s BigBasket is switching to a quick commerce-only model and will soon shift from scheduled deliveries to on-demand service.

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Edible Oil manufacturer BN Group announces $1 Bn investment for African expansion

By
Ashutosh Dubey
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Edible Oil manufacturer BN Group announces $1 Bn investment for African expansion

BN Group, an edible oil manufacturing company, is planning to invest approximately $1 billion over the next 5 years to expand its presence in Africa.

BN Group to establish 3 plants 

The company has already established its office in Tanzania and will be investing around $400 million to set up three manufacturing plants with a total manufacturing capacity of 2,000 tons.

Continue Exploring: Swiggy enters sports, acquires Mumbai team in upcoming World Pickleball League

According to ET Retail, Anubhav Agarwal, CEO & MD, BN Group said, “We are expecting to start operations from Q4 FY 26-27 and will be capturing the emerging markets of Africa. Along with manufacturing palm oil, we are also looking forward to supplying other by-products of palm oil like soaps.” The company plans to offer localised product offerings to cater to the local preferences of the consumer.

Initially, the company will offer its products in 3 different sizes – 5 L, 10 L, and 15 L. The products will be offered at competitive prices in Africa. The company will start with a direct-to-store strategy and will eventually start distribution via distributors.

Continue Exploring: FM Nirmala Sitharaman: quick commerce to enhance India’s innovative image globally

BN Group eyes $3 Bn revenue by 2030

“As compared to India, where EBITDA margins for agri commodities hover around 5 per cent, we are expecting 20-25 per cent EBITDA margins in Africa,” added Anubhav.

Reportedly, the company, which has a presence in 5 countries globally, is anticipating $3 billion in total revenue by 2030, where $2 billion will be added from Africa. It is aiming to close this fiscal with $1 billion in revenue with EBITDA margins standing at 4.5 – 5 per cent.

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

By
Ashutosh Dubey
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0
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Bikaji Foods International extends funding period to three months for US subsidiary

Bikaji Foods International Limited has extended its investment timeline for its US-based subsidiary, Bikaji Foods International USA Corp.

Bikaji investment involves 50,000 stocks 

The company will now have an additional three months to complete an investment of up to $500,000 in the subsidiary. The investment involves subscribing to 50,000 common stocks at $10 each and was approved by the Board of Directors on July 24, 2024.

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

Notably, the subsidiary, incorporated on July 10, 2023, in New Jersey, aims to strengthen the company’s distribution network in the United States. As per the company’s disclosure, Bikaji USA has reported a turnover of $1,096,593 for the previous fiscal year that ended March 31, 2024, with a net loss of $70,130.51. The subsidiary is focused on trading food items and remains 100 per cent owned by Bikaji Foods International.

Bikaji eyes to expand in FMCG

Further, the firm’s promoters, Deepak Agarwal and Shweta Agarwal, are also directors of the US subsidiary. The investment is being made on an arm’s length basis and aligns with the company’s strategic expansion in the fast moving consumer goods (FMCG) sector.

Continue Exploring: Flipkart co-founder Binny Bansal leaves PhonePe, complete exit from Walmart ecosystem 

Reportedly, the extension of the investment timeline will provide the company with more time to complete the investment and strengthen its presence in the US market.

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Swiggy enters sports, acquires Mumbai team in upcoming World Pickleball League

By
Shweta
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Swiggy Sports
Swiggy ventures into sports & entertainment with ownership and operations plans

Swiggy Ltd, an online food delivery company, has acquired ownership of the Mumbai team in the World Pickleball League (WPBL).

WPBL takes place in January next year

The WPBL is India’s first global franchise-based pickleball league, co-founded by former Indian tennis stars Gaurav Natekar and Arati Ponnappa Natekar. The inaugural season will take place from January 24 to February 2, 2025, in Mumbai.

Continue Exploring: FM Nirmala Sitharaman: Quick Commerce to Enhance India’s Global Innovative Image

Pickleball, a fast-growing sport globally, has gained popularity for its accessibility and appeal across age groups. This acquisition underscores Swiggy’s strategy to connect with consumers innovatively.

We fit right into this scenario – Rohit Kapoor, CEO of Swiggy

Meanwhile, Rohit Kapoor, CEO of Swiggy Food Marketplace, noted, “Pickleball is fun and easy for most people. Imagine food stalls, a happy game, and families coming together for a great weekend. We fit right into this scenario and deliver joy as always.”

Continue Exploring: Zomato enters into BSE’s flagship index, joins ranks of Reliance, Infosys

Further, Swiggy’s Mumbai franchise is the second team announced, following Chennai’s team owned by actress Samantha Ruth Prabhu. Hosting the league’s first edition in Mumbai offers Swiggy’s team an opportunity to shine on its home turf. 

“We believe WPBL can become one of India’s most popular leagues in 3-5 years. Having Swiggy on board validates the league’s growing resonance with the masses,” commented Gaurav Natekar, WPBL’s co-founder.

With six teams vying for the championship, the league guarantees an exciting experience for fans. The WPBL’s format aims to blend high-energy sports with a vibrant lifestyle experience, uniting communities through their love for pickleball.

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