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Flipkart’s Ekart Logistic registers INR 1,718.4 Cr net loss, 5X surge from FY24

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Ashutosh Dubey
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Flipkart’s Ekart Logistic registers INR 1,718.4 Cr net loss, 5X surges from FY24

Flipkart‘s logistics arm, Ekart Logistics, has reported a significant increase in net losses to INR 1,718.4 crore in the financial year 2023-24, a five-fold jump from INR 324.6 crore in the previous year.

Ekart revenue from operations drops 5% to INR 12,115.3 Cr

According to INC42, the company’s degrowth in profitability was primarily due to rising expenses and a decline in revenues. Ekart’s revenue from operations dropped 5% to INR 12,115.3 crore in FY24, compared to INR 12,787.4 crore in the previous year.

Continue Exploring: Aditya Birla’s TMRW registers 2X revenue growth to INR 175 Cr YoY in Q2

Meanwhile Ekart’s total expenses increased by over 6%, reaching INR 14,149.4 crore this year, up from INR 13,325 crore last year. This rise was mainly due to higher employee costs and other expenses.

Flipkart Internet reports 21% revenue growth this quarter

Notably, the logistics segment accounted for nearly 78% of Ekart’s gross operating revenue, generating INR 9,429.8 crore. Warehousing services contributed around 10% to the company’s operating revenue. Ekart Logistics operates over 7,000 trucks, 70 fulfilment centres, 80 sortation facilities, and 3,500 last-mile delivery hubs, covering 14,000 pin codes across India.

Continue Exploring: Trent Limited achieves milestone: 46% YoY growth, now in 184 cities

In contrast, Flipkart India’s operating revenue surged 26% year-on-year to INR 70,541.9 crore in FY24. Flipkart’s marketplace arm, Flipkart Internet, also reported a 21% growth in revenue to INR 17,907.3 crore, narrowing its losses by 41% to INR 2,358 crore.

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Campus launches “Move Your Way” campaign with brand ambassador Vicky Kaushal

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Ashutosh Dubey
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Campus footwear brand ambassador vicky kaushal
Campus launches "Move Your Way" campaign with brand ambassador Vicky Kaushal

Campus Activewear, a sports and athleisure footwear brand, has launched its latest campaign featuring actor and brand ambassador Vicky Kaushal. The “Move Your Way” campaign aims to inspire young people to move through life with confidence and authenticity.

‘Move Your Way’ campaign is more than a message – CMO

The campaign film showcases Vicky Kaushal’s charisma and style as he breaks into a spontaneous dance, emphasising the importance of embracing individuality.

Continue Exploring: Trent Limited achieves milestone: 46% YoY growth, now in 184 cities

According to Licence India, Prerna Aggarwal, Chief Marketing Officer, Campus Activewear released a statement regarding the campaign, saying, “We are witnessing a generation of dynamic young individuals who are not only constantly on the move but are also fearlessly expressing their unique identities through fashion. And Campus Shoes is the partner that helps them do this by offering on-trend, fashion-forward footwear that speaks to their authentic selves. Our ‘Move Your Way’ campaign is more than just a message— it’s a celebration of confident self-expression and the freedom to chart your own path.”

Inspires youth to take that leap of faith – Vicky Kaushal

Furthermore, Vicky Kaushal commented, “The first step to any journey is believing in yourself. This campaign isn’t just a message; it’s a reflection of how life rewards confidence and individuality. I’m thrilled to be a part of a campaign that captures the essence of staying true to oneself. It inspires young people to take that leap of faith, carve their own paths, and watch the world embrace their unique journey.”

Continue Exploring: UNIQLO debuts flagship stores in Mumbai, Delhi amid retail expansion plans

Moving forward, the campaign will be promoted across various platforms, including television, print, digital media, and outdoor advertising, reinforcing Campus Activewear’s commitment to empowering young people to express themselves confidently.

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The Good Bug partners with Hrithik Roshan’s HRX to launch probiotic product

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Ashutosh Dubey
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The Good Bug partners with Hrithik Roshan’s HRX to launch probiotic product

Gut health brand, The Good Bug, has collaborated with HRX, a renowned fitness brand co-founded by Hrithik Roshan, to introduce a groundbreaking probiotic product, Metabolically Lean Supercharged Edition. This product supports weight management and enhances gut health through a patent-pending probiotic blend.

We’re excited to partner with HRX in this launch – Co-founder

According to License India, Keshav Biyani, Co-founder, The Good Bug said, “Our flagship probiotic, Metabolically Lean, has received incredible customer love, inspiring us to continually innovate. With extensive global R&D, we’ve worked relentlessly to develop a groundbreaking supercharged formula to make an even greater impact. We’re excited to partner with HRX in this launch, who share our passion for health and wellness.”

Continue Exploring: MP Sudha Murty enlists Food Pharmer aka Revant Himatsingka for food adulteration research

Meanwhile, Bollywood actor, Hrithik Roshan commented, “We at HRX are optimistic about our collaboration with The Good Bug, especially after I personally have experienced the benefits of the products on myself & my family over the last year. Through this launch, we aim to bring a holistic approach to fitness, and make advanced scientific solutions accessible.”

Furthermore, The Good Bug’s Co-founder, Prabhu Karthikeyan, added, “At The Good Bug, we believe in gut health as the foundation of overall wellness, and we will continuously endeavour to support individuals to take charge of their health with science-backed, affordable solutions. Our campaign with HRX underscores that every small step is a powerful move toward a healthier, happier self.”

The Good Bug’s secures $3.5 million in series A round

“At HRX, we’re committed to providing a holistic lifestyle approach for people to prioritise their overall health. Our partnership with The Good Bug is a natural extension of this mission, aligning perfectly with our goal to offer impactful, science-backed solutions for healthier living. This launch marks a significant step forward in our brand’s journey that aims to transform lives across India,” Afsar Zaidi, Co-Founder, HRX, stated.

Continue Exploring: FMCG sector sees 5.7% value growth amid 6% surge in rural consumption

The product is priced at INR 499, making high-quality wellness accessible to all. This partnership follows The Good Bug’s successful $3.5 million Series A extension round, backed by Sharp Ventures and Fireside Ventures.

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Trent Limited achieves milestone: 46% YoY growth, now in 184 cities

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Ashutosh Dubey
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Trent Limited achieves milestone: 46% YoY growth, now in 184 cities

Trent Limited has increased its store count, now operating in 184 cities, marking a significant expansion of its retail presence, as per the company’s recent quarterly report released on November 7.

Trent operates 800 large-box fashion stores

Notably, Trent now runs more than 800 large-box fashion stores. As of September 30, its portfolio consists of 226 Westside stores, 577 Zudio stores, and 28 stores covering other lifestyle trends.

Continue Exploring: UNIQLO debuts flagship stores in Mumbai, Delhi amid retail expansion plans

According to Economic Times, Tata Group‘s Trent Limited saw a 46% year-on-year rise in standalone profit for the September quarter, reaching INR 423.44 crore. The company’s Q2 revenue grew by 39.6% year-on-year (YoY) to INR 4,035.56 crore. Trent reported positive results despite a subdued consumer market, thanks to key initiatives in product offerings, store portfolio, and operating supply chain. These efforts led to encouraging outcomes, the company said in its earnings commentary.

Trent registers double-digit growth in Q2

Furthermore, during Q2, the company reported double-digit like-for-like (LFL) growth in its fashion concepts. Both Westside and Zudio gained traction despite business seasonality. “Our Westside loyalty program, WestStyleClub, registered strong growth. Across all our brands, we remain focused on delivering consistent value to customers in terms of both the fashion and price. In addition, our stores continue to provide an improved brand experience as we continue with our expansion program,” the commentary added.

Continue Exploring: Pernia’s Pop-Up Shop to raise INR 250 Cr for expansion ahead of IPO

Additionally, the brand mentioned that new categories like beauty & personal care, innerwear, and footwear are becoming more popular with customers. These new categories now make up over 20% of the company’s revenues.

Looking into the business, Trent Limited runs various retail brands, including Westside, Zudio, and Star. Westside is a top fashion retail chain in India. Zudio offers trendy clothes at affordable prices. Star focuses on food, groceries, and daily essentials.

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Braille Menus at Taj Mahal Hotel, New Delhi: a step towards inclusive dining

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Ashutosh Dubey
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Braille Menus at Taj Mahal Hotel, New Delhi: a step towards inclusive dining

The Taj Mahal Hotel has taken a remarkable step towards inclusivity by introducing Braille menus across all its dining establishments. This initiative aims to provide a dignified and independent dining experience for visually impaired guests.

Taj introduces menus at event Varq

The launch was marked by an event at Varq, the hotel’s award-winning modern Indian restaurant, where celebrated artist Anjolie Ela Menon was the guest of honour. Visually impaired women from the National Association for the Blind India’s Centre for Blind Women and Disability Studies also attended.

Continue Exploring: The Hosteller secures INR 48 Cr from V3 Ventures for expansion

According to Indian Retailer, Anmol Ahluwalia, Area Director – Operations and General Manager at Taj Mahal, New Delhi, stated, “At Taj, we believe that hospitality should be an enriching experience for everyone. Our commitment to diversity, equity, and inclusion is reflected in various aspects of our hospitality, ensuring personalised and thoughtful service for guests from all walks of life. The introduction of Braille menus at our much-loved restaurants further strengthens our dedication to providing a dignified and empowering dining experience for all patrons. We hope to create memorable dining moments that resonate with our values of warmth and respect for each guest’s unique needs.”

Taj Hotel launches Blind Bakes Cafe 

This initiative aligns with the hotel’s broader commitment to inclusivity. Earlier this year, the hotel launched Blind Bakes Cafe, a collaborative project with the NAB India Centre for Blind Women and Disability Studies, empowering visually impaired women through culinary and housekeeping training.

Continue Exploring: Aditya Birla’s TMRW registers 2X revenue growth to INR 175 Cr YoY in Q2

With Braille menus, the Taj Mahal Hotel aims to inspire similar innovations in the luxury sector, emphasising design, technology, training, and supportive infrastructure to accommodate diverse needs.

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UNIQLO debuts flagship stores in Mumbai, Delhi amid retail expansion plans

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Ashutosh Dubey
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UNIQLO debuts flagship stores in Mumbai, Delhi amid retail expansion plans

Japanese apparel retailer UNIQLO announced the launch of its largest Indian store at Phoenix Palladium Mall in Mumbai, followed by another store at Pacific Mall Tagore Garden in New Delhi on November 29, 2024.

UNIQLO’s opens third largest store in Mumbai

According to Kenji Inoue, Chief Financial Officer and Chief Operating Officer of UNIQLO India, “Last year, we made our entry in Mumbai and received great appreciation and love for the brand. We are now thrilled to be launching our third and largest store in Mumbai at Phoenix Palladium. Meanwhile, we are also expanding our presence in Delhi NCR with our ninth store within this month. We are determined to make LifeWear more accessible to even more customers through our new stores.”

Continue Exploring: Pernia’s Pop-Up Shop to raise INR 250 Cr for expansion ahead of IPO

The Phoenix Palladium store spans two floors with a total sales area of 18,380 sq. ft., featuring UNIQLO’s full LifeWear range, including high-quality, functional clothing for men, women, and children. The store boasts a prominent red logo visible from the mall entrance and a large LED screen showcasing brand highlights and product features.

To celebrate the launch, the brand is offering exclusive promotions, including complimentary Round Mini Shoulder Bags for the first 100 customers and limited-edition Novelty Tote Bags designed by Mumbai artist Aashti Miller for customers spending over INTR 6,000 during the opening weekend.

UNIQLO launches “Mumbai’s LifeWear” campaign featuring personalities

Additionally, a UNIQLO cube installation will be placed in the mall courtyard, allowing visitors to explore the brand and participate in a “wish and win” campaign through the company’s app.

Continue Exploring: Lite Bite Foods launches Pan-Asian YOÜMEE outlet at Dwarka

In line with its “made for all” philosophy, UNIQLO is launching a campaign called “Mumbai’s LifeWear,” spotlighting six well-known Mumbai figures who embody the brand’s values. This campaign features actress Lillete Dubey, illustrator Aashti Miller, comedian Rohan Joshi, journalist Aayush Ailawadi, entrepreneur Harshad Chavan, and nutritionist Pooja Makhija, with their stories shared across UNIQLO’s social media platforms.

The Pacific Mall Tagore Garden store in New Delhi spans 12,930 sq. ft. across two floors and will also feature the brand’s iconic red logo. Ahead of the opening, a special tree installation adorned with red UNIQLO cubes will be displayed in the mall’s atrium.

Both stores will showcase the brand’s complete LifeWear collection, inspired by Japanese values of quality and durability, including the Fall/Winter 2024 collection featuring PUFFTECH and HEATTECH garments.

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Haldiram Bhujiawala secures INR 235 crore investment from Bharat Value

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Ashutosh Dubey
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Haldiram Bhujiawala secures INR 235 crore investment from Bharat Value

Haldiram Bhujiawala Limited, a Kolkata-based company, has secured a significant investment. Bharat Value Fund has invested INR 235 crore (INR 2350 million) in exchange for a minority stake in Haldiram’s “Prabhuji” brand.

India’s snacks market stands at INR 426 Bn in FY24

Notably, India’s retail snacks market is expanding rapidly. It was worth INR 426 billion in FY24 and is expected to reach about Rs 955 billion by FY32, growing at an annual rate of 11 percent. Major players like Haldiram Bhujiawala, with their wide range of products and high quality, are likely to play a significant role in this growth.

Continue Exploring: MP Sudha Murty enlists Food Pharmer aka Revant Himatsingka for food adulteration research

According to India Retailing, Manish Agarwal, MD of Haldiram Bhujiawala released a statement regarding the funding, saying “In the last 60+ years, we have cultivated a loyal customer base by offering delectable snacks and sweets. Our company has been a trendsetter, revolutionising food habits and tastes of India. Leveraging our industry insights alongside BVF’s support, we are strategically positioned to enhance shareholder value and drive growth. This partnership lays a solid foundation for generating long-term economic benefits, ensuring a prosperous future for all stakeholders.”

Haldiram Bhujiawala supplies products to 200,000 retailers

Supplying products to over 200,000 retailers across India through 2,000 distributors, 

Haldiram Bhujiawala has a vast network. The company also operates 19 owned stores and 60 franchise stores. With its new investment, Haldiram plans to expand its manufacturing capacity and increase its presence beyond Eastern India. Its three facilities currently have a combined production capacity of 6,035 metric tons per year, positioning the company for significant growth and expansion into new regions.

Continue Exploring: FMCG sector sees 5.7% value growth amid 6% surge in rural consumption

Furthermore, Madhu Lunawat, CIO of Bharat Value Fund added, “We are pleased to partner with Haldiram Bhujiawala Limited. With over six decades of market insight since its founding as a proprietorship in 1958, the company has a deep understanding of consumer behavior and market trends. The new generation’s sharp focus on the modern brand, ‘Prabhuji,’ is particularly noteworthy. We are highly optimistic about the food, FMCG, and consumer goods sectors, and Haldiram is well-positioned to achieve substantial growth in the years ahead.”

With six decades of experience, the snack brand is a well-known brand in Eastern and North-Eastern India. Its popular “Prabhuji” products and restaurants have become synonymous with quality snacks. The company’s brand appeal is enhanced by celebrity endorsements and innovative marketing approaches that resonate with younger generations.

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MP Sudha Murty enlists Food Pharmer aka Revant Himatsingka for food adulteration research

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Ashutosh Dubey
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MP Sudha Murty enlists Food Pharmer aka Revant Himatsingka for food adulteration research

Rajya Sabha MP Sudha Murty contacted content creator Revant Himatsingka, also known as Food Pharmer, to assist with research on food adulteration for the Upper House.

Food Pharmer works with Sudha Murty during Monoon Session

Earlier, Food Pharmer helped her during the Monsoon Session and will assist her again in the upcoming Winter Session of the Rajya Sabha. Famous for promoting healthy living and holding brands accountable for their ingredients, Himatsingka called Murty the “most humble person” he has ever met, as per News 18.

Continue Exploring: Food brands sell less nutritious products in lower-income countries, report reveals

He mentioned that she reached out to him directly via WhatsApp “like a friend.” Himatsingka wrote on X, “My biggest honour in my journey as Food Pharmer is when Sudha Murty Ma’am contacted me to provide research on food adulteration for Rajya Sabha.”

Further he attributed Murty as the “most humble person” he has ever met and compared her to social media influencers. He stated, “I’ve come across influencers with 1 lakh followers with more attitude than her.”

Food Pharmer to tackle food adulteration in the Rajya Sabha

In addition, Himatsingka praised Murty for being unusually approachable, saying, “Unlike most public figures who usually hide behind managers, she directly WhatsApps almost like a friend.” He shared exciting news about their collaboration to tackle food adulteration in the Rajya Sabha.

Continue Exploring: FMCG sector sees 5.7% value growth amid 6% surge in rural consumption

In a speech during the Parliament’s Monsoon session, Murty emphasised, “What kind of food we eat and what kind of disease we get, we should think in the modern era. Cancer cases are arising in our country due to adulteration and many more reasons.”

Meanwhile, she pointed out three problematic ingredients commonly used in the hotel industry: synthetic colour, synthetic vinegar, and tasting powder. Next, she warns, “They [ingredients] look nice, it is tasty, but people are not aware that it will become a problem in the future.”

In the end, Himatsingka is thrilled to collaborate with Sudha Murty, expressing excitement about assisting her with research during the upcoming Winter Session of the Rajya Sabha. He’s inspired by the potential impact of powerful individuals uniting for a common good, saying, “Excited to assist her with research during the upcoming Winter Session of the Rajya Sabha as well. Imagine, if the world’s most powerful people got together and fought for what is right.”

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FMCG sector sees 5.7% value growth amid 6% surge in rural consumption

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Ashutosh Dubey
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FMCG sector sees 5.7% value growth amid 6% surge in rural consumption

Rural demand for FMCG products like flour and soap grew over twice as fast as urban areas in the September quarter, due to a good monsoon season. Meanwhile, middle-class people in cities cut back on spending due to high food inflation.

FMCG registers 2.8% quarterly growth in urban areas 

According to Times of India, the FMCG industry saw a 2.8% growth in urban areas in the September quarter. This is lower than the 11% growth in the same quarter last year and only slightly better than the 2.1% growth in the June quarter, as per data from NielsenIQ.

Continue Exploring: Aditya Birla’s TMRW registers 2X revenue growth to INR 175 Cr YoY in Q2

Meanwhile, rural consumption increased to 6% in Q3 from 5.2% in Q2. Analysts at the consumer intelligence firm said, “Rural areas continue to surpass urban areas in volume growth across most regions of India.” The FMCG sector saw a growth of 5.7% in value and 4.1% in volume in Q3. Analysts believe that a good monsoon season likely improved incomes, boosting rural consumption.

Additionally, festivals like Raksha Bandhan and Onam in the quarter boosted spending. This is shown by food consumption growth, which rose to 3.4% in Q3 from 2.1% in Q2.

Small Manufacturers hold edge over FMCG – NIQ

“The uptick in volume growth is attributed to staple categories – edible oils, packaged atta and spices – despite price growth. Small manufacturers recovered from the consumption decline of the last three quarters and grew faster than giants… this is led by sharp recovery in volume growth in food for small players,” NIQ stated.

Continue Exploring: Food brands sell less nutritious products in lower-income countries, report reveals

Furthermore, independent consumer consultant Akshay D’souza noted that in urban India, most FMCG companies focus on premium packs, but high food inflation may have reduced sales of these expensive packs. He said, “All big FMCG firms like Nestle and Dabur have been expanding their rural coverage which has also added to growth in the regions.”

Recently, companies reported sluggish sales in urban areas, particularly among lower-middle-class and low-income households. Government programs have provided some relief from food price inflation, but the impact remains.

“In big cities, there is a trending down of growth… let’s not forget that urban has been driving the engine of the FMCG industry for the last several quarters, they are operating on a high base and some normalisation is expected,” Rohit Jawa, CEO & MD at HUL, said previously in August.

Notably, FMCG majors like HUL, Marico, Dabur, and Tata Consumer Products have raised their prices due to rising commodity costs. How this affects consumer spending in the next few quarters remains to be seen.

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Aditya Birla’s TMRW registers 2X revenue growth to INR 175 Cr YoY in Q2

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Ashutosh Dubey
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Aditya Birla’s TMRW registers 2X revenue growth to INR 175 Cr YoY in Q2

Aditya Birla Group’s TMRW house of brands, more than doubled its revenue to INR 175 crore in the second quarter of FY 2024-25, up 105% from INR 85 crore in the same period last year.

TMRW reduces EBITDA loss to INR 38 Cr

As per INC42, in the first half of the fiscal year under review, TMRW’s revenues increased by 101% year-on-year (YoY) to INR 318 crore, compared to INR 158 crore in the first half of FY24. Parent company Aditya Birla Fashion and Retail stated that TMRW slightly reduced its EBITDA loss to INR 38 crore in the quarter under review, down from INR 39 crore in Q2 FY24, in an exchange filing with the Bombay Stock Exchange (BSE).

Continue Exploring: Day 2: Swiggy’s IPO continues to receive lukewarm response with only 35% subscription

Nonetheless, the negative EBITDA margin significantly improved to 21.8% in the quarter ending September 2024, from 45.3% during the same period last fiscal year. On the operational side, parent company and Retail saw more than 30% YoY growth in overall ecommerce sales in Q2 FY25. However, the exact sales figures were not disclosed.

TMRW to acquire 30 fashion brands by 2025

Backed by the Aditya Birla Group, TMRW was founded in June 2022. The company plans to build a portfolio of 30 fashion and lifestyle brands by 2025 through acquisitions or by creating new brands.

Later on, the company has quickly expanded its operations and invested in multiple D2C brands. In 2022, it acquired stakes in startups like Berrylush, Bewakoof, Juneberry, Natilene, Nauti Nati, Nobero, Urbano, and Veirdo. In 2023, it invested INR 155 crore in The Indian Garage Co (TIGC). So far in 2024, it has increased its shareholding to over 32% in WROGN, a fashion brand backed by Virat Kohli, through at least two funding rounds.

Continue Exploring: Lite Bite Foods launches Pan-Asian YOÜMEE outlet at Dwarka

Meanwhile, TMRW operates in India’s fast-growing direct-to-consumer (D2C) apparel market, which has expanded rapidly due to increased internet and smartphone usage. This growth has led to the emergence of over 200 fashion ecommerce startups in the country, raising more than $2.2 billion between 2018 and 2023.

The Indian fashion ecommerce market is expected to grow to $112 billion by 2030, 

as reported by INC42.

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