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Tata to introduce “Neu Flash”, targets to expand in Q-commerce sector

By
Ashutosh Dubey
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0

With the rise in demand for instant deliveries in India, Tata Group plans to enter the market, competing with major players like Blinkit, Zepto, Swiggy Instamart, and Flipkart‘s ‘Minutes’ that are actively attracting consumers from larger e-commerce platforms.

Neu Flash collaborates with BBasket, Croma, Tata Cliq

According to ET, Tata group’s ecommerce venture, Neu, is introducing “Neu Flash” for quick commerce. This service will offer groceries, electronics, and fashion to select users. Neu Flash will use BigBasket for groceries, Croma for electronics and phones, and Tata Cliq for fashion and lifestyle products, starting with select SKUs.

Continue Exploring: Zomato now allows users to schedule orders up to ‘Two Days’ in advance

Sources stated that Tata is working to integrate Tata Cliq with Neu Flash and BigBasket, with strategic partnerships in progress. Additionally,  Tata-owned e-pharmacy 1mg provides a few-hour delivery in Delhi NCR but hasn’t fully launched on Neu Flash yet. Some essentials like headache medications and protein whey are available for 10-minute delivery. Tata might use Croma’s retail network for some of these deliveries, as it already offers same-day and next-day services.

Blinkit, Instamart, Zepto reports $1 Bn revenue in FY24

This move is Tata’s latest attempt to capture online shoppers. Meanwhile, competitors like Zomato-owned Blinkit, Swiggy Instamart, and Zepto have strong brand recognition and a significant market share as early entrants. These three reported over $1 Bn in revenue for FY24. The quick commerce industry in India saw sales increase by 280% over the last two years.

Continue Exploring: Bikaji shares surge 10% following 15% profit boost in Q2 FY25

In the past six months, quick commerce players have expanded their operations and added more products to meet growing consumer demand. Blinkit’s gross order value (GOV) jumped 130% to INR 4,923 Cr in Q1 FY25 from INR 2,140 Cr in the same quarter last year. It also increased by 22.2% from INR 4,027 Cr in Q4 FY24.

Blinkit now runs 639 dark stores across India, with average daily GOV per store increasing to INR 10 Lakh, up from INR 6 Lakh from 383 stores before. The company plans to expand to 2,000 dark stores by the end of 2026 while staying profitable.

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Lahori to raise INR 400 Cr, tripling Its valuation

By
Ashutosh Dubey
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0

Lahori, a Chandigarh-based beverage maker known for its local-flavoured carbonated non-alcoholic drinks, is in talks with several investors to secure INR 400 crore. This could triple the company’s valuation from its last fundraising.

Lahori valuation may reach up to INR 2700 Cr

According to Economic Times, people familiar with the matter said the financing round, a mix of primary and secondary transactions, may value the firm at INR 2,600-2,700 crore, up from INR 900 crore two years ago.

Continue Exploring: Bikaji shares surge 10% following 15% profit boost in Q2 FY25

Meanwhile, Lahori is in talks with Abu Dhabi Investment Authority and Motilal Oswal Financial Services for funding, according to an anonymous source. The transaction might involve Belgian investor Verlinvest, founded by the family behind beer maker InBev, selling part of its stake in Lahori.

Notably, Verlinvest, Lahori’s first institutional investor, invested $15 million in its series A round and currently holds a 21.2% stake. Lahori aims to raise around INR 250 crore in primary capital, with the founders also planning to sell part of their stake. “The deal is still in discussion stages… investors such as Peak XV Partners have also held talks,” said another person.

Lahori to raise manufacturing up to 8 mn bottles per day

Founded in 2017 by cousins Saurabh Munjal, Saurabh Bhutna, and Nikhil Doda, Lahori holds a 78.8% stake as per Tracxn. Their popular product, Lahori Zeera, is a cumin-flavored carbonated drink available in 160 ml and 240 ml sizes. They also offer lemon-based drinks like shikanji, popular in northern India.

Continue Exploring: Swiggy’s $11.3 Bn IPO Opens on November 6

“Lahori is growing quickly and scaling up fast. The aim is to speed up business. The primary capital will be used to increase its manufacturing capacity from 5 million bottles per day to over 8 million,” said one of the sources. The company has two manufacturing plants in Punjab and Gujarat and is working on a new facility in Uttar Pradesh.

Furthermore, Lahori’s CEO Munjal didn’t comment on the ongoing funding round. As per him, the company ended 2023-24 with INR 312 crore in revenue, nearly 50% up from the previous year, and aims to reach INR 500 crore this financial year, reported by ET.

Additionally, Lahori focuses mainly on offline sales, with 99% of its revenue coming from offline distributors, while online sales, including quick commerce, are minimal. “Almost 80% of the sales for the carbonated beverages category in India is coming from general trade… quick commerce is mainly focused on top cities for now. So, the contribution of quick commerce to our sales will grow as and when penetration increases,” Munjal stated.

He mentioned that the direct-to-consumer brand hasn’t started using quick commerce platforms outside northern India, which makes up most of its sales. “As much as 75% of our revenue is coming from North India till last year, followed by Mumbai and east India,” Munjal said. The company aims to expand its distributor network across the country. Unlike the market trend, Lahori sees a significant portion of sales from its larger stock-keeping units.

In terms of market, the Indian Beverage Association says India’s non-alcoholic beverages segment—including carbonated drinks, water, juice, and sports drinks—will grow to INR 1.5 lakh crore by 2030 from INR 67,000 crore now.

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Bikaji shares surge 10% following 15% profit boost in Q2 FY25

By
Ashutosh Dubey
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0

Bikaji Foods International‘s share price jumped 9.82% to INR 918 per share on the Bombay Stock Exchange (BSE) in Friday’s intraday trades after the company posted decent earnings for Q2 FY25.

Bikaji sees revenue growth to INR 68.6 cr

The snack maker reported a profit of INR 68.6 crore for the quarter ended September, up from INR 59.8 crore in the same quarter last year, marking a 14.71% year-on-year (YoY) increase in an exchange filing. Revenue rose by 19% year-on-year to INR 721.2 crore during this period, according to an exchange filing on Thursday.

Continue Exploring: Swiggy’s $11.3 Bn IPO Opens on November 6

For the quarter ending September, the snack company announced a profit after tax of INR 68.6 crores, increasing from INR 59.8 crores in the previous year’s corresponding quarter. This translates to a 14.71% year-on-year (YoY) growth in net profit as reported in the exchange filing. Driven by such growth, it has been reported that revenue increased at 19% year-on-year to INR 721.2 crores during the period.

Bikaji’s EBITDA rises to INR 106.7 cr

Operating income EBITDA increased by 22% to INR 106.7 crore, with the EBITDA margin rising to 14.8% from 14.4% a year ago. Analysts had expected slightly higher numbers, at INR 109 crore and a 15.3% margin.

Meanwhile, revenue from papads grew by 26%, while western snacks and packaged sweets increased by 23% and 22%. Ethnic snacks revenue rose by 10.5%, making up 63.8% of overall revenue. Papads contributed 4.1%, western snacks 8.3%, and packaged sweets 17.5%.

Continue Exploring: Swiggy Partners with PharmEasy to Launch 10-Minute Medicine Delivery

Furthermore, Managing Director Deepak Agarwal commented, “This quarter, we have witnessed a significant jump in revenue and profit margins. This surge in growth is due to the strong demand for ethnic snacks and packaged sweets, driven by the festive seasonality.”

Notably, Bikaji Foods International is the third largest ethnic snacks maker in India, selling Indian snacks and sweets globally. It’s the second fastest-growing company in India’s organised snacks market. Their products include bhujia, namkeen, packaged sweets, papad, western snacks, and other snacks like gift packs, frozen food, mathri, and cookies.

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Swiggy’s $11.3 Bn IPO Opens on November 6

By
Ashutosh Dubey
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0

The Initial Public Offering (IPO) of Swiggy is opening for subscription on November 6 and is scheduled to close on November 8, 2024. The estimated Size of the issue along with the offer for sale is expected between INR 11,700-11,800 Cr.

Swiggy’s primary component upsizes at INR 4,500 Cr

As reported by Moneycontrol, the cut-off date for bidding by anchor investors will be November 5. The report also stated that the firm is looking for a value of $11.3 Bn which is higher than the previous private valuation of $10.7 Bn.

Continue Exploring: Zomato now allows users to schedule orders up to ‘Two Days’ in advance

“At the top end of the price band, Swiggy is targeting an IPO valuation of around $11.3 Bn. The primary component of the issue has been upsized to around INR 4,500 Cr and the offer for sale component has also been tweaked depending on investor participation,” a source said.

Notably, Swiggy initially aimed for a $15 Bn IPO valuation. However, a recent report mentioned the company planned to lower the target to $12.5-13.5 Bn due to the recent sharp fall in the Indian stock market.

Meanwhile, the market has sharply declined for much of October. Sensex and Nifty 50 fell about 8% after hitting all-time highs last month. Swiggy’s competitor, Zomato, currently has a market cap of over $26 Bn.

Swiggy’s valuation $2 Bn less than investor value

It’s worth mentioning that the target valuation is about $2 Bn less than what Swiggy’s investor Invesco recently valued it at. Earlier this month, Invesco increased Swiggy’s valuation by 25% to $13.3 Bn. Swiggy also got approval from its shareholders to increase the fresh issue size to INR 5,000 Cr from the initial INR 3,750 Cr.

Continue Exploring: Swiggy lowers IPO valuation to $13.5 Bn amid market volatility

Furthermore, Swiggy’s updated DRHP shows its public issue will include a fresh issuance of shares worth INR 3,750 Cr and an OFS of 18.53 Cr equity shares. The company has been introducing new offerings and services ahead of its IPO.

Meanwhile, Swiggy is testing a 10-minute medicine delivery service in Bengaluru. It has also launched an international login feature for NRIs to order food and groceries in India. Additionally, Swiggy is piloting a concierge service for high-end customers.

Financially, the company’s net loss increased by 8% year-on-year (YoY) to INR 611 Cr in the June 2024 quarter. Its operating revenue grew 35% YoY to INR 3,222.2 Cr.

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Swiggy Partners with PharmEasy to Launch 10-Minute Medicine Delivery

By
Ashutosh Dubey
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0

Swiggy has partnered with PharmEasy to deliver medicines in 10 minutes, as it aims to expand into the pharmacy sector.

According to Moneycontrol, sources say the initial pilot for this service is being run in Bengaluru. Customers can order pain relievers, fever medications, and other prescription drugs.

Continue Exploring: Zomato now allows users to schedule orders up to ‘Two Days’ in advance

Swiggy aims to expand in epharmacy

Notably, Swiggy’s Instamart already delivers basic OTC medicines like pain relief sprays and AYUSH products from FMCG brands. This new partnership aims to expand Swiggy’s role in the epharmacy market by offering a wider range of medications, including prescription drugs.

This move is part of quick commerce companies expanding their offerings to boost average order values (AOVs) and order volumes. Swiggy is behind Blinkit in AOV, with Blinkit leading the segment at INR 625 for the quarter ending June.

Continue Exploring: Swiggy lowers IPO valuation to $13.5 Bn amid market volatility

Swiggy reduces IPO valuation to $13.5 Bn

Meanwhile, the development comes a day after Swiggy reduced its IPO valuation target to $12.5-13.5 Bn. Earlier this week, it raised its platform fee to INR 10 from INR 7 per order on its food delivery service.

Launched in 2014 by Sriharsha Majety, Nandan Reddy, Phani Kishan Addepalli, and Rahul Jaimini, Swiggy began as a food delivery service and eventually expanded into the quick commerce market with Instamart.

Financially, Swiggy reduced its loss by 44% to INR 2,350 Cr in FY24, compared to INR 4,179.3 Cr in FY23. Meanwhile, its operating revenue jumped 36% to INR 11,247.3 Cr in FY24 from INR 8,264.5 Cr last year, due to the growth of Swiggy Instamart.

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Zomato now allows users to schedule orders up to ‘Two Days’ in advance

By
Ashutosh Dubey
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0

Zomato has introduced a new feature called ‘order scheduling’, enabling customers to book their deliveries a minimum of two hours to a maximum of two days in the future.

Zomato introduces features in 30 cities

On Friday, October 25, food tech giant announced in a blog post, “This feature is now available at more than 35,000 restaurants across 30 cities – Delhi, Bengaluru, Mumbai, Pune, Raipur, Ahmedabad, and others.”

Continue Exploring: Brown Living secures $300,000 funding, targets $50 bn sustainable goods market by 2030

This comes shortly after Zomato raised its fee to INR 10 for the fourth time this year, ahead of the festive season. Swiggy, Zomato’s rival, already offers a similar service called ‘Swiggy Scheduled,’ launched in 2018.

Zomato receives board nod to raise INR 8,500 Cr

Meanwhile, the company got board approval to raise INR 8,500 Cr (about $1 Bn) through a qualified institutional placement (QIP). However, after five straight quarters of profit growth, they reported a 30% drop in net profit, falling to INR 176 Cr this quarter from INR 253 Cr last June.

Continue Exploring: Swiggy rolls out ‘international login’ for overseas food orders

Furthermore, the quarter-on-quarter (QoQ) decline was due to rising expenses. However, year-on-year (YoY), profits surged 389% from INR 36 Cr in Q2 FY24. Despite the profit drop, Zomato’s offline business grew quickly this quarter, due to its recent acquisition of Paytm Insider.

In the quick commerce space, Zomato is competing with Swiggy Instamart, Zepto, Tata’s BigBasket, and new players like Reliance’s JioMart and Flipkart’s Minutes.

Reportedly, Zomato’s Blinkit recently saw its market share in Delhi NCR fall from 47% to 42%.

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Brown Living secures $300,000 funding, targets $50 bn sustainable goods market by 2030

By
Ashutosh Dubey
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0

Brown Living, a leading platform in India promoting sustainable and plastic-free living, secured pre-seed funding to boost its growth. The funding, led by Blink Digital, totaled USD 300,000 and included investments from Sanjay Nayar of Sorin Investments and Bharat Iyer.

Brown Living experiences 500% YoY growth

Since 2019, Brown Living has grown significantly. Bollywood producer and environmentalist Pragya Kapoor joined as a partner and investor, with her investment growing by over 350 percent. The brand has seen incredible 500 percent year-on-year growth since its first funding round in June 2021.

Continue Exploring: Tata Tea plans price hikes to boost profit margins in upcoming months

With 650 sellers and over 1,800 artisans, this new funding will help Brown Living grow its operations and reach more artisans and suppliers. According to Indian Retailer, Chaitsi Ahuja, Founder & CEO of Brown Living, said, “This funding will enable us to scale our efforts to reach our next million customers and expand our Artisan-to-Consumer (A2C) model. Our platform empowers consumers to choose eco-friendly products while supporting small businesses.”

Brown Living receives support from Google For Startups, Stanford Program

Furthermore, Dooj Ramchandani, Co-founder of Blink Digital, highlighted the unique aspects of Brown Living’s model, focusing on its direct connection with India’s artisans and SMEs. Sanjay Nayar agreed, saying that Brown Living can make a big impact across India with its mission-driven approach and strong technology.

Continue Exploring: Blinkit introduces EMI for purchases over INR 2,999

Moving forward, with 67% of consumers willing to pay more for eco-friendly products, Brown Living is set to lead the sustainable goods market, expected to top $50 billion by 2030. Recent funding, supported by Google For Startups and the Stanford Seed Spark Program, will help them continue promoting sustainability.

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Big Hello opens 5th ‘Experience Store’ in Hyderabad, expands plus-size fashion

By
Ashutosh Dubey
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0

Big Hello, a fashion brand for plus-sized individuals, opened its fifth store in Kompally, Hyderabad. The new store offers stylish, high-quality clothes and accessories for plus-sized men and women, aiming to improve the shopping experience for this underserved market.

Big Hello becomes first in India to offer customer lounge

Offering a vibrant ‘Experience Store’ in Hyderabad, Big Hello features lively interiors, a dancing mannequin, and friendly customer service. It also stands out as the first Indian brand with a dedicated customer lounge, providing a cosy space for shoppers to relax and enjoy the retail experience.

Continue Exploring: Nykaa issues 3.08 Lakh equity shares to employees under ESOP scheme

With this new store, Big Hello is now in 19 locations, including Chennai, Bangalore, Hyderabad, Vijayawada, and Guntur. Besides its physical stores, the brand has an e-commerce platform and plans to open more stores in Hyderabad soon. Big Hello is owned by Absolute Brands and Retail Private Limited (ABRPL), led by founder Vishnu Prasad.

According to Indian Retailer, Modita Tripathi, Brand Head of Absolute Brands, shared regarding the inauguration of the new outlet, said, “We are happy to announce Big Hello’s inclusive and trendsetting collection of clothing and accessories to Hyderabad’s fashion-forward crowd. Our store offers locals convenient access to Big Hello’s perfectly tailored, stylish, and thoughtfully curated pieces, enabling them to embrace their individuality and make bold fashion statements with ease.”

Big Hello eyes to launch 50 stores in 2024

Furthermore, Big Hello offers a wide range of Western and Indian ethnic wear for all body types, occasions, and moods. Their collection includes shirts, t-shirts, trousers, jeans, and blazers, as well as traditional kurtas, bandh galas, and various ethnic bottomwear. They also have accessories like belts, tummy tuckers, scarves, ties, pocket squares, and suspenders, giving customers a complete fashion package.

Continue Exploring: OYO targets to secure $200 million for US expansion

Meanwhile, the brand plans to open 50 new stores this financial year, focusing on states like Tamil Nadu, Telangana, Andhra Pradesh, Karnataka, and Kerala. Vishnu Prasad, Founder and CEO of Absolute Brands & Retail, said, “We are establishing Big Hello to be the go-to destination for plus-size fashion across India. The brand offers stylish, high-quality garments that are exquisitely crafted to fit the unique curves and contours of plus-sized bodies.”

Notably, India’s plus-size fashion market is worth Rs. 88,000 crore, making up 12% of the overall fashion market. About 33% or Rs. 29,000 crore of this is in the organised sector. The market is expected to grow by 25% annually over the next five years, highlighting the increasing demand for plus-size fashion.

Looking ahead, with this expansion, Big Hello strengthens its position as a leader in India’s plus-size fashion industry, catering to more consumers looking for trendy and well-fitting clothes.

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The Souled Store strengthens ties with Cricketer Hardik Pandya, targets retail growth

By
Ashutosh Dubey
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0

The Souled Store, a big lifestyle brand in India, has deepened its ties with cricket player Hardik Pandya, who is now an investor. This partnership is a significant move for The Souled Store as it aims to grow in the Indian fashion retail market.

Hardik Pandya joins The Souled Store as brand ambassador since 2022

Since 2022, Hardik Pandya has been a brand ambassador for The Souled Store. He’s now keen to support the brand’s vision of becoming the top choice for trendy, high-quality products for young people.

Continue Exploring: Blinkit Introduces EMI for Purchases Over INR 2,999

According to Indian Retailer, regarding the partnership, Pandya released a statement, saying, “My journey with The Souled Store has been a special one. What started as a partnership has grown into something much bigger. I have always admired their passion for creating something fun, relatable, and exciting for the youth of India. I’m thrilled to be a part of this very loved homegrown brand’s next chapter and look forward to contributing to its continued success and growth.”

Further he stated, “I’m excited to strengthen my partnership with The Souled Store, a brand that resonates with both the youth of the country and me. As an Indian athlete, I believe in the potential of homegrown brands, and this journey is about supporting innovation and creativity to help shoppers look and feel their best. I look forward to being part of this exciting partnership and fueling growth & love for the brand.”

Meanwhile, Vedang Patel, Co-Founder of The Souled Store said “Hardik embodies everything that The Souled Store stands for, representing a true ‘Made in India’ success story. We are thrilled to welcome him into the family. His passion for fashion and deep understanding of the Indian youth will bring immense value to our brand. Together, we aim to innovate and create products of high quality that resonate with the youth while celebrating their individuality and interests.”

Continue Exploring: Swiggy introduces ‘Seal’ programme to enhance restaurants hygiene standards

The Souled Store reports 55% annual growth rate

Notably, The Souled Store has grown significantly with a 55% annual growth rate, since 2022. They expanded from 8 to over 30 stores in more than 15 cities and plan to add 5 more by the end of this month. Their user base has more than doubled, showing the positive impact of their strategic leadership and market expansion.

In the past two years, The Souled Store and Hardik Pandya have both gained from their partnership. As a brand ambassador, Hardik has enhanced The Souled Store’s visibility in a competitive fashion market and linked the brand to youthful energy, appealing to his fans. This collaboration has led to growth for both Hardik and The Souled Store, forming a community of fans and customers who value quality clothing and want to keep up with fashion trends.

With this new investment, The Souled Store plans to speed up product development, expand its online and offline presence, and pursue new creative partnerships.

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Nykaa not focusing on Q-commerce, aims to build own network – CEO Falguni Nayar

By
Ashutosh Dubey
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0

Nykaa‘s founder and CEO, Falguni Nayar, stated that quick commerce won’t be the only focus for the company. They will target consumer demand for delivery once the sector grows to a certain size and scale.

Q-commerce one of the small channels, but not only – Nayar

While talking to The Economic Times ahead of Nykaa’s annual event ‘Nykaaland,’ Nayar said, “The reality for us is that we will not get into additional categories for the sake of quick commerce and what we will do well is in our category where we have long-term interest and a long-term position to play.”

Continue Exploring: Swiggy introduces ‘Seal’ programme to enhance restaurants hygiene standards

She mentioned that the company’s focus is on building a wide network across the country, not just in a few cities. “…Our vision is to build the beauty and fashion lifestyle in the country and that’s what we are doing; and quick commerce could be one of the small channels, but it cannot be the only,” Nayar added, “…it does not have a major impact on our mission.”

Nykaa introduces 10-min delivery pilot in Mumbai

This update follows Nykaa’s recent launch of a 10-minute delivery pilot in parts of Mumbai, covering 5% of its products.

Meanwhile, Nayar’s comment comes as retail formats, including e-commerce, are affected by the rapid rise of platforms like Blinkit, Zepto, Swiggy Instamart, and new entrants like Flipkart Minutes, which offer 10-minute deliveries.

Notably, Nykaa offers same-day delivery for orders placed before 12 pm and next-day delivery for those placed after 12 pm in four metro cities. Around 85-90% of orders get delivered the next day, while 10-15% are delivered the same day.

Continue Exploring: D2C footwear brand Yoho secures INR 27 Cr in Pre-Series B funding for expansion

“Most companies start with a vision they want to fulfil, and our vision is to build the beauty and fashion lifestyle in the country and that’s what we are doing; and quick commerce could be one of the small channels, but it cannot be the only…it does not have a major impact on our mission,” Nayar explained.

“In the top 110 cities, 60-70% of our orders are delivered by the next day. The speed of delivery on our entire delivery network has improved by 45% over the last year. We are improving our network and are now setting up warehouses in top 30 cities to further enhance our speed,” Nayar emphasised the importance of faster delivery across India. She mentioned that 25 million customers buy beauty products from Nykaa and the platform services all 19,000 zip codes in India.

Moving forward, Nykaa’s offline stores are still boosting sales. It has about 200 outlets and plans to increase to 350 stores.

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