Online furniture rental startup RentoMojo has nearly reached the INR 200 crore mark in operating revenue for the financial year 2023-24 (FY24),͏͏ driven͏͏ by͏͏ robust͏͏ customer͏͏ demand͏͏ and͏͏ enhanced͏͏ efficiency͏͏ from͏͏ automation.
Deloitte, in partnership with FICCI, has unveiled the report titled ‘SPURring Growth in FMCG, Retail, and E-Commerce Sectors in India’ at the FICCI Massmerize event. The͏͏ report͏͏ highlights͏͏ the͏͏ crucial͏͏ role͏͏ of͏͏ India’s͏͏ consumer͏͏ industry͏͏ in͏͏ driving͏͏ the͏͏ overall͏͏ economy.
FMCG Brand focuses on new categories in INR 500 cr
According to Economic Times, for its next growth phase, Tata Soulfull is focusing on new categories and launching more innovative products. “This fiscal year, we are entering into an additional three to four sizeable new categories. Most of the categories are INR 500 crore plus and one is north of a couple of thousands,” said Prashant to ET. He mentioned that all the new launches are planned for this quarter but didn’t share more details.
In recent days, Tata Soulfull launched Masala Muesli. “Now, we plan to take muesli beyond metropolitan cities and will introduce it to more Indian households. We have launched it on e-commerce, and with modern trade players like Reliance,” Prashant shared. “We have currently introduced it in top towns and then we will be percolating below,” he further goes.
Tata Soulfull’s double-digit market share in muesli with 25% growth rate
However, the brand serves two consumer groups: adults and kids. “At present, we have a double-digit market share in the masala oats category, whereas Choco Sticks is also close to a double-digit market share. Apart from this, we have a strong double-digit market share in muesli. Muesli as a category is at Rs 400 crore and growing at 25 percent CAGR,” Prashant explained.
While talking to ET, he stressed, “For some categories, we have a presence in close to 3 lakh stores, whereas, for a few categories, we’ve gone all the way to around five lakh stores.”
Launched in 2013, the brand focuses on Health & Wellness foods, offering millet-based products for kids and adults. It’s one of the fastest-growing brands in India’s healthy packaged foods market. With expertise in ancient millets like ragi, the brand offers a variety of products, including cereals, healthy snacks, muesli, and plant-based protein drinks.
Right now, about 50% of the business comes from areas outside tier I and metro cities.
Brown Living raises pre-seed funding to further sustainable living in country
Brown Living, a top platform in India for sustainable and plastic-free living, has raised pre-seed funding to make eco-friendly living the norm for millions of Indians. The funding was led by Blink Digital with contributions from Sanjay Nayar of Sorin Investments and investor Bharat Iyer.
In an effort to make sustainable living more common, this funding will support India’s artisan and small businesses. By promoting eco-friendly products and a lifestyle that reduces plastic pollution and chemical goods, the funding is vital for Brown Living’s growth.
Brown Living to expand Artisan-to-Consumer (A2C) model
According to Indian Retailer,com, Chaitsi Ahuja, Founder & CEO, Brown Living released a statement, saying, “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 and we’re excited to deepen our partnerships with artisan communities and help them go digital and make sustainable living mainstream.”
With over 650 sellers and 1,800 artisans, Brown Living is a sustainable living platform, tracks sustainability metrics, ensures transparency, and builds trust among artisans, suppliers, consumers, and investors. The new investment will help it expand, giving more artisans and suppliers market access.
Notably, Brown Living’s A2C model links artisans directly with eco-conscious buyers, ensuring transparent and fair pricing. Its tech-based infrastructure supports growth while staying true to its core values, helping small businesses thrive and promoting sustainability.
Earlier Pragya Kapoor, now Blink Digital extend investments
Adding further to the investment, Dooj Ramchandani, Co-founder of Blink Digital and lead investor in the funding round, mentioned, “What sets Brown Living apart in the startup and D2C space is their deep-rooted connection with India’s artisans and SMEs. They’ve created a direct line between these creators and the conscious consumer, delivering authenticity and transparency. Their unique A2C (Artisan-to-Consumer) model will allow Brown Living to directly engage with consumers while giving artisans access to fair pricing and a global stage for their eco-friendly, sustainable products. This will build trust and exponentially accelerate the market for sustainable living.”
Since starting in 2019, Brown Living partnered with Bollywood producer and environmentalist Pragya Kapoor as an investor. Her investment has grown over 350%, showing the platform’s commitment to growth. Now it has made remarkable progress, with a 500% year-on-year growth since its first funding round in June 2021.
Furthermore, stressing on the Brown Living mission, Sanjay Nayar said, “Brown Living’s platform has the potential to scale impact across India. Their mission-driven approach, combined with strong tech infrastructure, positions them to lead the shift toward sustainable living at a national level.”
Interestingly, the company has benefited from programs like the Google For Startups Accelerator India Women Founders Program, the Stanford Seed Spark Program, and AWE Tech Spark, supported by The U.S. Consulate General Mumbai. These programs helped the company build a strong technical base to grow and expand its reach.
Licious, the Temasek-backed meat and seafood startup, has finalised an agreement to acquire Bengaluru-based My Chicken and More, a company operating a chain of offline stores, for INR 150-200 crore. The͏͏ deal͏͏ will͏͏ include͏͏ a͏͏ combination͏͏ of͏͏ cash͏͏ and͏͏ equity,͏͏ along͏͏ with͏͏ an͏͏ earnout͏͏ component.
Good Drop Wine Cellars adds new Frizzano Sparkling Wine for special occasions
Good Drop Wine Cellars, a major stakeholder in India’s sparkling wine scene, has launched new products—Frizzano Sparkling Wine Brut and Brut Rosé from Nashik’s Vinchur region. They also introduced the Frizzano Sparkling Wine Brut Jeroboam, India’s first of its kind, designed for special occasions with its larger size.
CEO Ashwin Rodrigues announces new Frizzano Wine Brut
According to Indian Retailer.com, Ashwin Rodrigues, Founder and Winemaker at Good Drop Wine Cellars, released a statement, saying, “With Frizzano Sparkling Wine Brut, we aim to bring a festive spirit to every celebration. This wine is not just a drink; it’s an experience that enhances the joy of life and parties, making every occasion memorable. We envision Frizzano Sparkling Wine Brut as the perfect companion for toasting to life’s special moments, surrounded by friends and loved ones.”
In the new addition, Frizzano Sparkling Wine Brut has crisp citrus and green apple notes, making it great for events like rooftop parties or intimate dinners. The Brut Rosé has ripe berry flavours with floral hints, perfect for both casual and formal celebrations.
Good Drop Wine Cellars new 3-litre Jeroboam bottle
One of its special features is the 3-litre Jeroboam bottle. This wine is perfect for weddings and VIP parties where presentation matters. A large bottle and an impressive look give an event grandeur, creating a visual centrepiece for the scene.
With modern winemaking methods, Frizzano’s new sparkling wines mix traditional Indian flavours. This fits their plan to grow in India’s nightlife and event scenes.
Founded in 2009 by Ashwin Rodrigues, who trained in Australia’s Barossa Valley. Good Drop Wine Cellars is located in Vinchur Wine Park, Nashik, it has a 50,000 sq ft facility with a tank capacity of 2.1 million litres. Their brands include Casablanca (sparkling wines), Good Earth (still wines), and Rio (fizzy wine coolers).
Aadit took to Linkedln to share her happiness, wrote, “What a day! Closing out Navratri 2024 with a grateful heart, seeing the beauty of India’s diversity through our users, sellers, brands, and every Zeptonian, who made it all happen. From essentials to festive picks, thank you for making us part of India’s celebrations across nine incredible days.”
Furthermore, he shared through graphics that the Mumbai-based firm sold over 100,000 dandiya sticks this season. He also mentioned that sales of fasting-friendly chips, Kattu, and Rajgira atta increased a lot compared to last year’s Navratri.
Ayudh Puja, Garba event and many: Zepto celebrates Navratri
Aadit goes further explaining how Zepto’s dark stores celebrated Navratri across the country. In Coimbatore, Kochi, Chennai, and Bengaluru, they celebrated Ayudha Puja, honouring tools and equipment. The Bhawanipore store in Kolkata celebrated Durga Ashtami, and the Gota store in Ahmedabad hosted a lively Garba event.
Established in 2021 by Stanford dropouts Aadit Palicha and Kaivalya Vohra, Zepto is India’s fastest-growing e-grocery company. It’s valued at $900 million after raising $200 million in Series-D funding from top global investors like Y Combinator Continuity, Kaiser Permanente, Nexus Venture Partners, Glade Brook Capital, and Lachy Groom.
ProV Foods, a rising name in India’s dry fruit sector, is setting its sights on substantial growth as the country’s fragmented dry fruit market shifts towards organized and branded products.
Founded in 2015 by DP Jhawar, ProV Foods has leveraged its understanding of the unorganized sector to build a solid presence in the organized market. “When we started, 90% of the industry was unorganized. We saw the opportunity to bring quality and consistency to a market where consumers were demanding more transparency,” says Jhawar.
With India’s dry fruit market currently valued at INR 60,000 crore and expected to grow to INR 95,000 crore over the next five years, the organized sector’s share is also poised to expand rapidly. Jhawar predicts that branded products will see significant growth, stating, “The branded market, which is around INR 7,000 crore today, will touch INR 20,000 crore in the next 4-5 years.”
From Supply Chain Mastery to Brand Success
ProV’s journey began by addressing the supply chain challenges inherent in the dry fruit market. “The first three years, we focused on understanding the business, building relationships with suppliers, and ensuring consistent quality. It’s this effort that has helped us ensure high standards across seasons, a critical factor in dry fruits,” Jhawar explains.
In 2018, ProV Foods entered the branded space, focusing on offering high-quality, packaged dry fruits across various SKUs. Today, the company offers over 150 SKUs across almonds, cashews, pistachios, walnuts, and mixed products. Almonds and pistachios remain their top-selling items, with ProV capitalizing on a growing consumer preference for healthy snacks. “We’re seeing rapid growth in the healthy snacks segment, particularly with smaller packs like INR 30 options, which are doing very well in general trade and pan stores,” Jhawar shares.
With a revenue of INR 300 crore in the branded space last year, ProV Foods has set an ambitious target of INR 425 crore for the current fiscal year. The company’s growth strategy revolves around increasing its presence in general trade, especially in southern India, where it already has a strong foothold. Jhawar emphasizes, “We’re focusing on going deep in the markets we’re already in, rather than expanding too wide too quickly. However, I’m targeting 30% to 40% growth year on year.”
As e-commerce and modern retail continue to play a vital role in ProV’s success, Jhawar notes that the company is cautious about discounting strategies. “We don’t believe in deep discounting or burning capital. Our approach is to offer consumers quality at the right price,” he asserts.
IPO and Future Prospects
ProV Foods recently marked a milestone by going public, a move that Jhawar believes has significantly boosted the brand’s visibility. “The IPO has helped us gain recognition, and it’s opening up opportunities for us to enter new markets and launch new products,” he remarks. Beyond visibility, the listing has also provided the company with the capital needed for further investment in its business.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.
