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Nationwide hotel occupancy reaches decade-high of 67.5% in 2023-24: Hotelivate Report

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hotel

India’s branded and organised hotel sector achieved a decade-high occupancy rate of 67.5% in 2023-2024, with an all-time record average daily rate of INR 8,055, according to Hotelivate‘s͏͏ 27th͏͏ edition͏͏ of͏͏ the͏͏ Indian͏͏ Hospitality͏͏ Trends͏͏ &͏͏ Opportunities͏͏ Report.

Strong͏͏ RevPAR͏͏ Performance:

This͏͏ led͏͏ to͏͏ a͏͏ RevPAR͏͏ (revenue͏͏ per͏͏ available͏͏ room)͏͏ of͏͏ INR͏͏ 5,439,͏͏ slightly͏͏ below͏͏ the͏͏ lifetime͏͏ high͏͏ recorded͏͏ in͏͏ 2007-2008.

Mumbai͏͏ topped͏͏ the͏͏ occupancy͏͏ rates͏͏ at͏͏ 79%,͏͏ followed͏͏ closely͏͏ by͏͏ New͏͏ Delhi͏͏ at͏͏ 78.7%͏͏ and͏͏ Hyderabad͏͏ at͏͏ 75.1%.

Hyderabad͏͏ achieved͏͏ one͏͏ of͏͏ the͏͏ highest͏͏ RevPAR͏͏ growths͏͏ in͏͏ the͏͏ country͏͏ for͏͏ the͏͏ second͏͏ consecutive͏͏ year,͏͏ driven͏͏ by͏͏ a͏͏ 26.2%͏͏ rise͏͏ in͏͏ average͏͏ rates.

Five-Star͏͏ Hotels Dominate͏͏ RevPAR͏͏ Growth:

According͏͏ to͏͏ the͏͏ report,͏͏ five-star͏͏ deluxe͏͏ hotels͏͏ recorded͏͏ a͏͏ substantial͏͏ 147.4%͏͏ increase͏͏ in͏͏ RevPAR͏͏ over͏͏ a͏͏ 24-month͏͏ period,͏͏ the͏͏ highest͏͏ among͏͏ all͏͏ categories.͏͏ Five-star͏͏ hotels͏͏ followed͏͏ with͏͏ a͏͏ robust͏͏ 131%͏͏ growth,͏͏ while͏͏ four-star͏͏ hotels͏͏ experienced͏͏ a͏͏ notable͏͏ 99.3%͏͏ rise.

Hotels͏͏ with͏͏ average͏͏ rates͏͏ of͏͏ INR͏͏ 7,500͏͏ or͏͏ higher͏͏ increased͏͏ from͏͏ 23%͏͏ (354͏͏ hotels)͏͏ in͏͏ 2022-23͏͏ to͏͏ 30%͏͏ (517͏͏ hotels)͏͏ in͏͏ 2023-24.

The͏͏ report͏͏ was͏͏ based͏͏ on͏͏ a͏͏ participation͏͏ base͏͏ of͏͏ 1,742͏͏ hotels,͏͏ which͏͏ had͏͏ a͏͏ combined͏͏ inventory͏͏ of͏͏ 180,403͏͏ rooms.

Continue͏͏ Exploring:͏͏ From͏͏ sparkling͏͏ wines͏͏ to͏͏ spa͏͏ treatments:͏͏ Indian͏͏ hotels roll͏͏ out͏͏ deluxe͏͏ offers͏͏ for͏͏ business͏͏ travelers

Manav͏͏ Thadani,͏͏ founder͏͏ chairman͏͏ of͏͏ Hotelivate,͏͏ described͏͏ the͏͏ anticipated͏͏ 49%͏͏ increase͏͏ in͏͏ hotel͏͏ room͏͏ supply͏͏ in͏͏ India͏͏ as͏͏ ‘remarkable’͏͏ and͏͏ indicative͏͏ of͏͏ ‘significant’͏͏ growth͏͏ in͏͏ the͏͏ hospitality͏͏ sector.͏͏ He͏͏ noted͏͏ that͏͏ key͏͏ markets͏͏ like͏͏ Bengaluru,͏͏ Mumbai,͏͏ and͏͏ Goa͏͏ are͏͏ at͏͏ the͏͏ forefront͏͏ of͏͏ this͏͏ expansion,͏͏ with͏͏ 77%͏͏ of͏͏ the͏͏ proposed͏͏ supply͏͏ currently͏͏ under͏͏ active͏͏ development.͏͏ “This͏͏ trend͏͏ highlights͏͏ a͏͏ positive͏͏ outlook͏͏ for͏͏ the͏͏ industry,͏͏ driven͏͏ by͏͏ increasing͏͏ tourism,͏͏ business͏͏ travel,͏͏ and͏͏ enhancements͏͏ in͏͏ infrastructure,”͏͏ he͏͏ stated.

“As͏͏ of͏͏ March͏͏ 2024,͏͏ the͏͏ branded͏͏ pipeline͏͏ for͏͏ the͏͏ next͏͏ five͏͏ years͏͏ consists͏͏ of͏͏ 88,706͏͏ keys,͏͏ regardless͏͏ of͏͏ their͏͏ current͏͏ construction͏͏ status,”͏͏ he͏͏ noted.

Achin͏͏ Khanna,͏͏ managing͏͏ partner͏͏ of͏͏ strategic͏͏ advisory͏͏ at͏͏ Hotelivate,͏͏ stated͏͏ that͏͏ the͏͏ industry͏͏ is͏͏ continuing͏͏ to͏͏ perform͏͏ strongly.

“With͏͏ half͏͏ of͏͏ fiscal͏͏ 2024-25͏͏ already͏͏ behind͏͏ us,͏͏ there͏͏ has͏͏ been͏͏ overall͏͏ growth͏͏ compared͏͏ to͏͏ the͏͏ remarkable͏͏ performance͏͏ of͏͏ 2023-24,͏͏ especially͏͏ with͏͏ the͏͏ stronger͏͏ winter͏͏ months͏͏ approaching.͏͏ However,͏͏ in͏͏ many͏͏ markets,͏͏ growth͏͏ has͏͏ slowed,͏͏ and͏͏ in͏͏ some͏͏ cases,͏͏ it͏͏ has͏͏ even͏͏ declined,”͏͏ he͏͏ noted.

Continue͏͏ Exploring:͏͏ Royal͏͏ Orchid͏͏ Hotels anticipates͏͏ 80%͏͏ occupancy͏͏ in͏͏ H2͏͏ 2024

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GCPL, Dabur, Marico: FMCG Majors face margin pressure as palm oil, advertising and input costs rise

FMCG, D2C, Inflation, Brands, Food & Beverages
GCPL, Dabur, Marico: FMCG Majors face margin pressure as palm oil, advertising and input costs rise

Major FMCG companies predict that rising palm oil prices, higher input costs, and increased advertising and promotion expenses will affect their margins and profits for the September quarter. 

In recent updates, companies like Godrej Consumer Products Ltd (GCPL), Dabur, and Marico mentioned that their margins might remain flat year-on-year due to higher prices of copra and vegetable oil in July-September.

FMCG giants foresee flatter profit margins for September quarter

According to ET Retail, Godrej Industries’ FMCG division, GCPL, expects flat earnings growth in the domestic market for the September quarter due to higher palm oil costs. “Palm input costs have been rising since March and have risen in the high teens as of date. Management has decided not to pass on the entire cost hike to consumers in one step and decided to continue investments on the long-term growth initiatives like rural van programme, new category development etc,” the company said.

Continue Exploring: Indian retail sector to see mixed fortunes in Q2 FY25, with value retail and jewellery outperforming QSR

Furthermore, GCPL, owner of brands like Good Knight, Cinthol, and HIT, forecasts minimal profit growth and said, “As a result, the standalone EBITDA (earnings before interest, taxes, depreciation, and amortisation) growth will be flattish.” The company also expects its domestic business to grow strongly. “to perform well with high single-digit underlying volume and value growth” GCPL added.

Moreover, Marico noted that copra prices rose more than expected, and a recent import duty hike increased vegetable oil prices at the end of the quarter. “Crude oil derivatives, however, remained range-bound. We expect gross margin to moderate on a year-on-year basis owing to partial absorption of higher input costs, as the company prioritised expanding its consumer franchise in the current demand environment,” said Marico, which owns brands like Saffola, Parachute, and Livon. They also said, “Consequently, we expect a moderate lag in operating profit growth vis-a-vis revenue growth on a year-on-year basis.”

Another FMCG giant, Dabur is adjusting its distributor inventory, which is expected to cause a small decline in quarterly revenue. The company, which owns Dabur Amla, Dabur Vatika, and Real juice, has increased advertising spending. “In line with our commitment to continue to invest behind our brands, the A&P investments continued during the quarter. However, as a result of lower primary sales, our profitability will be impacted during the quarter and the operating margin for the quarter is expected to decline in the range of mid to high teens due to deleveraging and continued investment behind brands,” they said. This temporary action is necessary to strengthen the GT channel and improve efficiency and growth in the future.

Continue Exploring: Evenflow strengthens Quick Commerce, D2C and supply chain verticals with new heads

Adani’s revenue increases 4X due to organised channels, Dabur notices

Meanwhile, FMCG companies have seen a rise in sales from alternate channels. In the second quarter, Adani Wilmar‘s revenue from these channels grew significantly year-on-year, exceeding Rs 3,000 crore over the past year. “The e-commerce channel has seen even more rapid growth, with its revenue increasing by around four times in the last four years,” it said. Dabur noticed “disproportionately higher growth” in organised channels like MT, e-commerce, and quick commerce in recent quarters, causing increased inventory in the General Trade (GT) channel and affecting distributor ROI. “The company has taken an important strategic decision to correct distributor inventory in the GT channel and improve their ROI,” it said.

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Indian retail sector to see mixed fortunes in Q2 FY25, with value retail and jewellery outperforming QSR

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Retail

India’s retail sector is expected to deliver a mixed performance in Q2 FY25, as per the Centrum report.

Strong͏͏ Growth͏͏ in͏͏ Value Retail and Jewellery:

While͏͏ sectors͏͏ such͏͏ as͏͏ value͏͏ retail,͏͏ jewellery,͏͏ and͏͏ luggage͏͏ are͏͏ expected͏͏ to͏͏ see͏͏ strong͏͏ growth,͏͏ the͏͏ quick͏͏ service͏͏ restaurant͏͏ (QSR)͏͏ sector͏͏ is͏͏ grappling͏͏ with͏͏ significant͏͏ demand͏͏ challenges͏͏ due͏͏ to͏͏ heavy͏͏ rainfall͏͏ and͏͏ a͏͏ decline͏͏ in͏͏ out-of-home͏͏ consumption.

The͏͏ value͏͏ apparel͏͏ retail͏͏ segment͏͏ is͏͏ anticipated͏͏ to͏͏ achieve͏͏ a͏͏ 15͏͏ percent͏͏ same-store͏͏ sales͏͏ growth͏͏ (SSSG),͏͏ propelled͏͏ by͏͏ easing͏͏ inflation͏͏ and͏͏ a͏͏ resurgence͏͏ in͏͏ rural͏͏ demand.

Continue͏͏ Exploring:͏͏ India’s͏͏ apparel͏͏ retail industry͏͏ to͏͏ continue͏͏ growing͏͏ with͏͏ rising͏͏ incomes͏͏ and͏͏ demand͏͏ for͏͏ affordable͏͏ fashion:͏͏ Centrum

The͏͏ jewellery͏͏ segment͏͏ is͏͏ anticipated͏͏ to͏͏ experience͏͏ a͏͏ solid͏͏ 15͏͏ percent͏͏ same-store͏͏ sales͏͏ growth͏͏ (SSSG),͏͏ mainly͏͏ attributed͏͏ to͏͏ the͏͏ cut͏͏ in͏͏ customs͏͏ duty͏͏ from͏͏ 15͏͏ percent͏͏ to͏͏ 6͏͏ percent.

Impact͏͏ of͏͏ Seasonal͏͏ Factors͏͏ on͏͏ Overall͏͏ Performance:

However,͏͏ the͏͏ overall͏͏ performance͏͏ of͏͏ the͏͏ sector͏͏ was͏͏ affected͏͏ by͏͏ the͏͏ fewer͏͏ wedding͏͏ days͏͏ during͏͏ the͏͏ quarter.͏͏ Despite͏͏ this,͏͏ premiumization͏͏ and͏͏ strong͏͏ consumer͏͏ demand͏͏ have͏͏ driven͏͏ healthy͏͏ foot͏͏ traffic.

However,͏͏ fluctuations͏͏ in͏͏ gold͏͏ prices͏͏ and͏͏ aggressive͏͏ promotional͏͏ strategies͏͏ are͏͏ expected͏͏ to͏͏ strain͏͏ operating͏͏ margins.

Luggage͏͏ Industry͏͏ on͏͏ a͏͏ Growth͏͏ Trajectory:

The͏͏ luggage͏͏ industry͏͏ is͏͏ set͏͏ to͏͏ experience͏͏ strong͏͏ growth,͏͏ with͏͏ volume͏͏ anticipated͏͏ to͏͏ increase͏͏ by͏͏ 15-18͏͏ percent͏͏ and͏͏ value͏͏ by͏͏ 10-12͏͏ percent.

E-commerce͏͏ sales͏͏ have͏͏ played͏͏ a͏͏ crucial͏͏ role,͏͏ with͏͏ online͏͏ channels͏͏ accounting͏͏ for͏͏ around͏͏ 50͏͏ percent͏͏ of͏͏ total͏͏ sales͏͏ for͏͏ major͏͏ players.

Footwear͏͏ companies͏͏ are͏͏ expected͏͏ to͏͏ register͏͏ low͏͏ to͏͏ mid-single-digit͏͏ growth͏͏ as͏͏ a͏͏ result͏͏ of͏͏ heavy͏͏ rainfall͏͏ and͏͏ a͏͏ decline͏͏ in͏͏ discretionary͏͏ spending.

Metro͏͏ Brands͏͏ is͏͏ expected͏͏ to͏͏ perform͏͏ better͏͏ than͏͏ its͏͏ peers͏͏ due͏͏ to͏͏ its͏͏ store͏͏ expansion͏͏ strategy,͏͏ while͏͏ mass-market͏͏ players͏͏ like͏͏ Bata͏͏ and͏͏ Relaxo͏͏ are͏͏ likely͏͏ to͏͏ encounter͏͏ revenue͏͏ weakness.

QSR Sector͏͏ Remains͏͏ Under͏͏ Pressure:

The͏͏ QSR͏͏ sector͏͏ remains͏͏ subdued,͏͏ impacted͏͏ by͏͏ aggressive͏͏ store͏͏ expansions,͏͏ reduced͏͏ out-of-home͏͏ consumption,͏͏ and͏͏ increased͏͏ competition͏͏ from͏͏ local͏͏ and͏͏ online͏͏ food͏͏ delivery͏͏ platforms.

Continue͏͏ Exploring:͏͏ QSR industry͏͏ sees͏͏ continued͏͏ pressure͏͏ on͏͏ dine-in͏͏ channel͏͏ as͏͏ delivery͏͏ platforms͏͏ gain͏͏ ground

Operating͏͏ margins͏͏ in͏͏ the͏͏ retail͏͏ sector͏͏ are͏͏ expected͏͏ to͏͏ stay͏͏ under͏͏ pressure,͏͏ mainly͏͏ due͏͏ to͏͏ increasing͏͏ input͏͏ costs,͏͏ intense͏͏ promotional͏͏ spending,͏͏ and͏͏ store͏͏ expansions͏͏ resulting͏͏ in͏͏ operating͏͏ de-leverage.

Centrum͏͏ predicts͏͏ that͏͏ EBITDA͏͏ margins͏͏ in͏͏ the͏͏ jewellery͏͏ and͏͏ luggage͏͏ sectors͏͏ will͏͏ face͏͏ challenges,͏͏ while͏͏ the͏͏ QSR͏͏ and͏͏ footwear͏͏ industries͏͏ are͏͏ likely͏͏ to͏͏ experience͏͏ similar͏͏ difficulties͏͏ due͏͏ to͏͏ lower͏͏ sales͏͏ and͏͏ rising͏͏ discount͏͏ levels.

Long-term͏͏ Positive͏͏ Outlook͏͏ for͏͏ Retail:

Despite͏͏ these͏͏ obstacles,͏͏ the͏͏ Indian͏͏ retail͏͏ sector͏͏ maintains͏͏ a͏͏ positive͏͏ outlook,͏͏ bolstered͏͏ by͏͏ long-term͏͏ trends͏͏ including͏͏ the͏͏ transition͏͏ from͏͏ unorganised͏͏ to͏͏ organised͏͏ retail,͏͏ growing͏͏ disposable͏͏ incomes,͏͏ and͏͏ a͏͏ rising͏͏ consumer͏͏ inclination͏͏ toward͏͏ premium͏͏ products.

The͏͏ sector͏͏ is͏͏ presently͏͏ trading͏͏ at͏͏ a͏͏ 5͏͏ percent͏͏ premium͏͏ compared͏͏ to͏͏ its͏͏ 10-year͏͏ average,͏͏ with͏͏ projected͏͏ double-digit͏͏ top-line͏͏ growth͏͏ anticipated͏͏ over͏͏ the͏͏ next͏͏ 2-3͏͏ years.

Continue͏͏ Exploring:͏͏ Retail sales͏͏ grow͏͏ 2%͏͏ YoY͏͏ in͏͏ August͏͏ 2024:͏͏ RAI͏͏ Survey

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Entrepreneurs and startup founders pour out tributes to Ratan Tata following his sudden demise

Leadership, Entrepreneurs and startup, Business
Entrepreneurs and startup founders pour out tributes to Ratan Tata following his sudden demise

India’s startup community mourned the loss of Ratan Tata, former Tata Group chairman, who passed away in Mumbai on Wednesday, October 9.

At 86, Tata passed away at Mumbai’s Breach Candy Hospital, where he was in the ICU. Known for his philanthropy, he inspired many founders and was beloved by people of all ages. Ratan Tata was a supportive investor in Indian startups, backing passionate entrepreneurs. He recently partially sold his stake in Upstox, a brokerage platform.

Continue͏͏ Exploring:͏͏ Philanthropist and business icon Ratan Tata passes away at 86

Snapdeal, Paytm and Noise co-founders mourns legendary Tata

Notably, he was an early investor in major companies like Paytm and Urban Company. In 2014, Tata made one of his first startup investments in Snapdeal. Sharing his condolences on Tata’s death, Snapdeal and Titan Capital co-founder Kunal Bahl said, “India has lost one of its greatest titans, a true statesman of industry. Mr. Ratan Tata was more than just a business leader—his compassion, humility, and kindness inspired millions. His legacy will live on forever.”

Furthermore, Vijay Shekhar Sharma, Paytm’s founder and CEO paid tribute to Tata, calling him a legendary figure. “Entrepreneurs of the next generation will miss interacting with the most humble businessman of India,” Sharma said on X, sharing a photo with Tata.

Continue Exploring: Tata Group eyes expansion with potential stake purchase in Fabindia’s apparel business

Joining the row in mourning the loss of a legendary icon, Gaurav Khatri, co-founder and CEO of Noise, paid a heartfelt tribute to Ratan Tata. “Ratan Tata’s true legacy isn’t just in what he built, but in the quiet ways he’s shaped lives,” Khatri wrote. He remembered Tata as an industry veteran who touched hearts with “Empathy”, “compassion” and “kindness” that will last far beyond his lifetime.

Meanwhile business tycoon and Microsoft co-founder, Bill Gates paying tribute, said Tata “left an indelible mark on India—and the world.”  Mayank Arya, YesMadam’s founder and CEO, praised him, “Ratan Tata laid the foundations of ‘the culture of possibility’ which changed the very language of ambition of India.”

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Zomato-owned Blinkit to launch ‘Cafe’ for quick snack deliveries

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Blinkit

In a bid to expand beyond the grocery segment, Zomato-owned Blinkit is set to launch a cafe feature for delivering snacks and beverages.

Rapid͏͏ Deliveries͏͏ of͏͏ Popular͏͏ Snacks:

The͏͏ feature͏͏ will͏͏ launch͏͏ in͏͏ select͏͏ cities͏͏ later͏͏ this͏͏ month,͏͏ enabling͏͏ rapid͏͏ deliveries͏͏ of͏͏ popular͏͏ snacks͏͏ like͏͏ samosas͏͏ and͏͏ sandwiches,͏͏ according͏͏ to͏͏ Mint.

Blinkit͏͏ plans͏͏ to͏͏ introduce͏͏ items͏͏ that͏͏ require͏͏ preparation,͏͏ such͏͏ as͏͏ pasta͏͏ and͏͏ noodles,͏͏ depending͏͏ on͏͏ the͏͏ demand͏͏ for͏͏ these͏͏ deliveries.

Competing͏͏ in͏͏ the͏͏ Quick͏͏ Delivery͏͏ Market:

This͏͏ offering͏͏ will͏͏ directly͏͏ rival͏͏ Zepto͏͏ Cafe͏͏ and͏͏ Swiggy’s͏͏ ‘Cafe’,͏͏ which͏͏ was͏͏ launched͏͏ to͏͏ deliver͏͏ snacks͏͏ and͏͏ beverages͏͏ in͏͏ just͏͏ 15͏͏ minutes͏͏ in͏͏ select͏͏ parts͏͏ of͏͏ Bengaluru.

Currently,͏͏ Swiggy͏͏ Cafe͏͏ has͏͏ curated͏͏ a͏͏ selection͏͏ of͏͏ beverage͏͏ options,͏͏ including͏͏ coffee,͏͏ milkshakes,͏͏ and͏͏ protein͏͏ bars͏͏ from͏͏ brands͏͏ like͏͏ Blue͏͏ Tokai͏͏ and͏͏ The͏͏ Whole͏͏ Truth.

Continue͏͏ Exploring:͏͏ Swiggy͏͏ rolls͏͏ out͏͏ ‘Cafe’͏͏ to͏͏ deliver͏͏ snacks͏͏ and͏͏ beverages͏͏ within͏͏ 15͏͏ minutes

Zepto͏͏ led͏͏ the͏͏ way͏͏ in͏͏ quick͏͏ snack͏͏ deliveries͏͏ by͏͏ launching͏͏ Zepto͏͏ Cafe͏͏ in͏͏ Mumbai͏͏ in͏͏ 2022.͏͏ The͏͏ platform͏͏ uses͏͏ a͏͏ hybrid͏͏ model͏͏ to͏͏ deliver͏͏ both͏͏ branded͏͏ pre-made͏͏ food͏͏ items͏͏ and͏͏ non-branded͏͏ options.

Zepto͏͏ asserts͏͏ that͏͏ this͏͏ addition͏͏ has͏͏ increased͏͏ average͏͏ order͏͏ values,͏͏ as͏͏ users͏͏ tend͏͏ to͏͏ order͏͏ tea,͏͏ coffee,͏͏ and͏͏ snacks͏͏ alongside͏͏ their͏͏ groceries.͏͏ However,͏͏ the͏͏ exact͏͏ revenue͏͏ generated͏͏ from͏͏ the͏͏ Cafe͏͏ vertical͏͏ remains͏͏ unclear.

Quick͏͏ Commerce͏͏ Platforms͏͏ Diversify:

In͏͏ the͏͏ past͏͏ six͏͏ months,͏͏ quick͏͏ commerce͏͏ players͏͏ have͏͏ expanded͏͏ their͏͏ operations͏͏ and͏͏ diversified͏͏ their͏͏ catalogues͏͏ to͏͏ cater͏͏ to͏͏ rising͏͏ consumer͏͏ demand.͏͏ Almost͏͏ all͏͏ platforms,͏͏ including͏͏ Swiggy͏͏ Instamart͏͏ and͏͏ the͏͏ new͏͏ Flipkart͏͏ Minutes,͏͏ have͏͏ ventured͏͏ into͏͏ categories͏͏ such͏͏ as͏͏ electronics,͏͏ beauty,͏͏ pet͏͏ care,͏͏ toys,͏͏ and͏͏ smaller͏͏ household͏͏ appliances.

Blinkit Sees͏͏ Significant͏͏ Growth:

For͏͏ Blinkit,͏͏ these͏͏ additions͏͏ led͏͏ to͏͏ a͏͏ 130%͏͏ increase͏͏ in͏͏ gross͏͏ order͏͏ value͏͏ (GOV),͏͏ rising͏͏ to͏͏ INR͏͏ 4,923͏͏ crore͏͏ in͏͏ Q1͏͏ FY25͏͏ from͏͏ INR͏͏ 2,140͏͏ crore͏͏ in͏͏ the͏͏ same͏͏ quarter͏͏ last͏͏ year.͏͏ Sequentially,͏͏ this͏͏ marks͏͏ a͏͏ 22.2%͏͏ rise͏͏ from͏͏ INR͏͏ 4,027͏͏ crore͏͏ in͏͏ Q4͏͏ FY24.

Continue͏͏ Exploring:͏͏ Blinkit sees͏͏ 22%͏͏ QoQ͏͏ revenue͏͏ growth͏͏ to͏͏ INR͏͏ 942͏͏ Cr͏͏ in͏͏ Q1,͏͏ adjusted͏͏ EBITDA͏͏ loss͏͏ drops͏͏ to͏͏ INR͏͏ 3͏͏ Cr

Blinkit͏͏ currently͏͏ operates͏͏ 639͏͏ dark͏͏ stores͏͏ nationwide,͏͏ with͏͏ the͏͏ average͏͏ daily͏͏ gross͏͏ order͏͏ value͏͏ (GOV)͏͏ per͏͏ store͏͏ increasing͏͏ to͏͏ INR͏͏ 10͏͏ lakh,͏͏ up͏͏ from͏͏ INR͏͏ 6͏͏ lakh͏͏ from͏͏ 383͏͏ stores͏͏ previously.͏͏ The͏͏ company͏͏ plans͏͏ to͏͏ expand͏͏ its͏͏ dark͏͏ store͏͏ count͏͏ to͏͏ 2,000͏͏ by͏͏ the͏͏ end͏͏ of͏͏ 2026͏͏ while͏͏ ensuring͏͏ profitability.

Brokerage͏͏ CLSA’s͏͏ analysis͏͏ indicates͏͏ that͏͏ the͏͏ gross͏͏ order͏͏ value͏͏ of͏͏ major͏͏ quick͏͏ commerce͏͏ players͏͏ like͏͏ Blinkit,͏͏ Zepto,͏͏ and͏͏ Swiggy͏͏ Instamart͏͏ is͏͏ set͏͏ to͏͏ reach͏͏ $10͏͏ billion͏͏ by͏͏ the͏͏ financial͏͏ year͏͏ 2025-26͏͏ (FY26),͏͏ driven͏͏ by͏͏ their͏͏ expansion͏͏ beyond͏͏ groceries͏͏ and͏͏ into͏͏ Tier͏͏ 2͏͏ and͏͏ Tier͏͏ 3͏͏ markets.

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BeeYoung expands its craft beer lineup with the launch of ‘BeeYoung Beyond’

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BeeYoung beer

Aiming to revolutionize the craft beer landscape in India, BeeYoung—the country’s first handcrafted strong beer—has launched BeeYoung Beyond. This͏͏ “Crafted͏͏ International͏͏ Style͏͏ Pilsner”͏͏ combines͏͏ traditional͏͏ regional͏͏ flavors͏͏ with͏͏ global͏͏ brewing͏͏ standards,͏͏ resulting͏͏ in͏͏ a͏͏ premium͏͏ beer͏͏ that͏͏ embodies͏͏ Indian͏͏ pride.͏͏ BeeYoung͏͏ Beyond͏͏ is͏͏ designed͏͏ to͏͏ offer͏͏ customers͏͏ a͏͏ refreshing͏͏ and͏͏ versatile͏͏ option͏͏ suitable͏͏ for͏͏ various͏͏ occasions.

Unique͏͏ Ingredients͏͏ in͏͏ BeeYoung Beyond for͏͏ a͏͏ Distinctive͏͏ Flavor:

Crafted͏͏ with͏͏ a͏͏ unique͏͏ blend͏͏ of͏͏ Doon͏͏ Basmati͏͏ rice͏͏ from͏͏ Uttarakhand͏͏ and͏͏ Belgian͏͏ specialty͏͏ malt,͏͏ BeeYoung͏͏ Beyond͏͏ celebrates͏͏ India’s͏͏ agricultural͏͏ heritage͏͏ while͏͏ delivering͏͏ a͏͏ smooth,͏͏ velvety͏͏ mouthfeel.͏͏ This͏͏ rice͏͏ pays͏͏ tribute͏͏ to͏͏ the͏͏ Himalayas,͏͏ the͏͏ origin͏͏ of͏͏ Kimaya͏͏ Himalayan͏͏ Beverages,͏͏ and͏͏ reflects͏͏ the͏͏ beauty͏͏ and͏͏ richness͏͏ of͏͏ local͏͏ culture.͏͏ BeeYoung͏͏ Beyond͏͏ offers͏͏ a͏͏ robust͏͏ and͏͏ smooth͏͏ profile,͏͏ featuring͏͏ subtle͏͏ earthy,͏͏ spicy,͏͏ and͏͏ floral͏͏ notes͏͏ from͏͏ select͏͏ hops.

Continue͏͏ Exploring:͏͏ DeVANS͏͏ expands͏͏ Six͏͏ Fields͏͏ beer lineup͏͏ with͏͏ new͏͏ premium͏͏ lagers

“At͏͏ BeeYoung,͏͏ we͏͏ have͏͏ always͏͏ strived͏͏ to͏͏ expand͏͏ the͏͏ possibilities͏͏ of͏͏ craft͏͏ beer.͏͏ BeeYoung͏͏ Beyond͏͏ exemplifies͏͏ our͏͏ dedication͏͏ to͏͏ craft͏͏ excellence,”͏͏ stated͏͏ Abhinav͏͏ Jindal,͏͏ Founder͏͏ &͏͏ CEO͏͏ of͏͏ Kimaya͏͏ Himalayan͏͏ Beverages͏͏ LLP.͏͏ “Incorporating͏͏ Doon͏͏ Basmati͏͏ rice͏͏ into͏͏ our͏͏ brew͏͏ enhances͏͏ the͏͏ unique͏͏ flavor͏͏ profile͏͏ and͏͏ highlights͏͏ our͏͏ commitment͏͏ to͏͏ sourcing͏͏ local,͏͏ high-quality͏͏ ingredients͏͏ that͏͏ celebrate͏͏ India’s͏͏ heritage.͏͏ We͏͏ are͏͏ excited͏͏ to͏͏ provide͏͏ our͏͏ consumers͏͏ with͏͏ more͏͏ than͏͏ just͏͏ beer—a͏͏ genuine͏͏ experience͏͏ in͏͏ every͏͏ sip.”

Continue͏͏ Exploring:͏͏ Local͏͏ beer brands͏͏ gain͏͏ 400͏͏ bps͏͏ market͏͏ share͏͏ in͏͏ value͏͏ segments͏͏ as͏͏ global͏͏ giants͏͏ shift͏͏ focus͏͏ to͏͏ premium͏͏ products

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Evenflow strengthens Quick Commerce, D2C and supply chain verticals with new heads

D2C, Quick Commerce, Supply Chain,
Evenflow strengthens Quick Commerce, D2C and supply chain verticals with new heads

Evenflow Brands, an e-commerce growth company has hired four experienced leaders. These executives, formerly from Uber, bring expertise in key areas that are business, category, supply chain and sourcing verticals.

Evenflow Targets 6x Profit Growth with Latest Appointments

Executives, Priyesh Singh joins to enhance the company’s supply chain capabilities, ensuring efficient delivery. Aparajitha Vijayaraghavan leads the quick commerce segment, focusing on rapid same-day delivery. Prashant Agarwal takes charge of the direct-to-consumer (D2C)  business, expanding online sales. Additionally, Ruchi Shaikh oversees the BabyPro and CRED product lines, streamlining these key channels.

Continue͏͏ Exploring:͏͏ India’s E-commerce market targets $325 billion by end of 2030 with 21% CAGR – Reports

With recent leadership hiring, Brands aims to multiply its profits six times in the next three years. Founded in 2021 by Utsav Agarwal and Pulkit Chabbra, Evenflow helps third-party sellers on online marketplaces grow their businesses through smart operations and strategic support.

Before joining Evenflow, Priyesh Singh worked at Decathlon, a sports equipment retailer. Aparajitha Vijayaraghavan previously held a leadership role at Dunzo, a quick delivery platform, overseeing categories and revenue growth. While Prashant Agarwal brings experience from top brands like Hopscotch, ABFRL, and Titan. Ruchi Shaikh joins from HP, where she managed projects.

Evenflow, Thrasio-style marketplace aggregator acquires 7 more brands

Moreover the brand operates in the e-commerce consolidation market, competing with companies like GlobalBees, Mensa Brands, Upscalio, 10Club, GOAT Brand Labs and Powerhouse91. Recently, Evenflow promoted Shashank Ranjan to co-founder. Ranjan, who joined in 2022, previously led sourcing efforts.

Continue͏͏ Exploring:͏͏ Beauté Secrets receives INR 1.6 crore from Velocity ahead of festive season

Furthermore, the brands has acquired seven online brands: Xtrim, Yogarise, Rusabl, BabyPro, Trendy Homes, Cinagro, and Frenchware. This move is part of the growing e-commerce rollup trend in India, where companies buy and invest in smaller, independent brands. Recently, GlobalBees and Mensa Brands achieved remarkable success, becoming unicorns within just a year of launching. These companies use the rollup model to bring together multiple smaller brands under one umbrella, providing resources and expertise to help them grow.

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Clear cocktails & tequila fever: What’s stirring India’s beverage scene?

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beverage cocktail

The Indian beverage sector is undergoing a significant transformation, driven by evolving consumer preferences, rapid urbanization, and innovative trends. Ajit Balgi, Founder of The Happy High Bartending Academy, shares key insights into what’s shaking up the scene and how trends in cocktails, spirits, and homegrown brands are reshaping the Indian market.

Urban Centers Leading the Beverage Revolution  

India’s beverage market is largely concentrated in key urban areas like Mumbai, Delhi, Bengaluru, and Goa. According to Ajit Balgi, “When it comes to beverages, these cities are at the forefront. Trends that emerge here gradually trickle down to Tier 2 cities like Chennai and Kochi.” Thanks to social media, Tier 2 markets are catching up faster, with local restaurants experimenting with cutting-edge techniques such as fat washing, milk washing, and at-home distillation.

Tequila and Mezcal Taking the Spotlight  

One of the most significant shifts in consumer demand has been the rise of tequila and mezcal. “Tequila and mezcal are extremely hot right now, especially in Mumbai,” Balgi says. 

“Top bars in the city are selling these spirits by the bottle, with some tequila bottles priced at over INR 1 lakh.” This marks a major departure from the days when gin was the trendy choice. Balgi explains, “Gin is not phasing out, but the market is flooded with options, and it’s no longer the go-to. Tequila, however, is the new status symbol.”

Continue Exploring: India’s beverage market bubbling with natural ready-to-drink punch and mocktails as health and convenience take center stage

Cocktail Culture: Crafting New Experiences  

The craft cocktail scene in India is growing steadily, with premium bars in Tier 1 cities setting the standard. “Restaurants now understand the importance of balancing great food with well-crafted cocktails,” Balgi notes. The rise of “cocktail bars” has empowered bartenders to become stars in their own right, much like chefs in top restaurants. 

However, Balgi points out that most Indian consumers are still unfamiliar with complex cocktails. “Even among affluent consumers, there’s a preference for simple drinks like Long Island Iced Tea and Mojitos,” he says. “We’re still far from a nationwide craft cocktail revolution.”

Yet, Balgi highlights a range of lesser-known cocktails that could soon capture the Indian palate. “Penicillin, a whiskey-based cocktail with ginger flavors, and the Porn Star Martini, a fruity vodka drink, are both poised to do well in India,” he says. He also mentions forgotten classics like the Sidecar, which could offer new options for adventurous drinkers.

Bringing Forgotten Classics Back to Life  

Indian bars, particularly those in Tier 2 cities, are starting to revamp their cocktail menus by reviving forgotten classics. “Many bars don’t need to reinvent the wheel,” Balgi suggests. “They can introduce customers to classic recipes from around the world that are not commonly found here. For instance, cocktails like Negroni or Sidecar could offer a refreshing change from the usual options.” Balgi emphasizes the importance of understanding local taste preferences, explaining that “a Negroni might not work in markets that prefer sweeter drinks.”

Rise of Homegrown Brands  

India’s burgeoning spirits industry is also seeing a wave of new brands gaining international recognition. Balgi points to the success of single malt whisky brands like Paul John.

“Paul John went outside India first before focusing on the domestic market. They’ve played a crucial role in teaching Indians to appreciate Indian single malts,” he says. Similarly, gin brands like Greater Than and Stranger & Sons have made their mark by promoting Indian botanicals.

Balgi also highlights innovative players like DesmondJi, an agave spirit from Goa that was launched a decade ahead of the current tequila craze. “DesmondJi created an Indian agave spirit at a time when tequila was still in its infancy in India. They were true visionaries,” he remarks.

What’s Next? The Mahua Spirit Revolution  

Looking ahead, Balgi predicts that Mahua, an indigenous Indian spirit, could follow tequila’s success story. “India has the potential to take Mahua to the world,” he says. A few brands are already experimenting with this traditional liquor, and Balgi believes it has a bright future on the global stage. Feni, another local spirit from Goa, could also see increased interest if regulatory changes allow its production and distribution to scale.

The Indian beverage industry is at an exciting juncture, with cocktail culture gaining momentum and homegrown brands carving out their space on the global stage. As consumer awareness grows, India’s market for premium spirits and innovative cocktails is only set to expand, bridging the gap between Tier 1 and Tier 2 cities. 

Continue Exploring: Domestic alcoholic beverages sector to see 8-10% revenue growth in FY25: ICRA Report

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Myntra sees 1.5 Mn new customers, 390 Mn visits during festive sale

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Myntra

Fashion and lifestyle e-commerce platform Myntra recorded 390 million customers during its festive season sale, onboarding over 1.5 million new users,͏͏ with͏͏ more͏͏ than͏͏ 80͏͏ per͏͏ cent͏͏ coming͏͏ from͏͏ non-metro͏͏ areas.

Record͏͏ Surge͏͏ in͏͏ Active͏͏ Users:

The͏͏ platform͏͏ recorded͏͏ 70͏͏ million͏͏ monthly͏͏ active͏͏ users͏͏ (MAUs)͏͏ and͏͏ achieved͏͏ 100͏͏ per͏͏ cent͏͏ year-on-year͏͏ (YoY)͏͏ growth͏͏ in͏͏ orders͏͏ per͏͏ minute͏͏ during͏͏ peak͏͏ times.

Additionally,͏͏ FWD,͏͏ Myntra’s͏͏ dedicated͏͏ Gen-Z͏͏ fashion͏͏ destination,͏͏ recorded͏͏ 2.5X͏͏ growth͏͏ in͏͏ new͏͏ customers͏͏ compared͏͏ to͏͏ business͏͏ as͏͏ usual͏͏ (BAU).

Continue͏͏ Exploring:͏͏ Myntra’s͏͏ GenZ͏͏ customer͏͏ base͏͏ doubles͏͏ to͏͏ 16͏͏ Mn͏͏ in͏͏ 2024

High͏͏ Demand͏͏ in͏͏ Key͏͏ Categories:

The͏͏ categories͏͏ that͏͏ experienced͏͏ heightened͏͏ demand͏͏ included͏͏ women’s͏͏ ethnic͏͏ wear,͏͏ men’s͏͏ occasion͏͏ and͏͏ casual͏͏ wear,͏͏ and͏͏ sports͏͏ footwear.͏͏ Beauty͏͏ and͏͏ personal͏͏ care,͏͏ watches͏͏ and͏͏ wearables,͏͏ and͏͏ home͏͏ furnishings͏͏ saw͏͏ 1.5X͏͏ growth͏͏ in͏͏ demand͏͏ compared͏͏ to͏͏ the͏͏ previous͏͏ BFF.͏͏ More͏͏ than͏͏ 100͏͏ D2C͏͏ brands͏͏ under͏͏ Myntra͏͏ Rising͏͏ Stars͏͏ achieved͏͏ over͏͏ 100%͏͏ year-on-year͏͏ growth͏͏ during͏͏ this͏͏ year’s͏͏ BFF.͏͏ Meanwhile,͏͏ the͏͏ D2C͏͏ beauty͏͏ and͏͏ personal͏͏ care͏͏ segment,͏͏ which͏͏ launched͏͏ just͏͏ before͏͏ the͏͏ festive͏͏ season,͏͏ is͏͏ on͏͏ a͏͏ robust͏͏ growth͏͏ trajectory,͏͏ achieving͏͏ 110%͏͏ growth͏͏ over͏͏ business͏͏ as͏͏ usual͏͏ (BAU).

Credit͏͏ Card͏͏ and͏͏ EMI͏͏ Usage͏͏ Surge:

During͏͏ the͏͏ festive͏͏ season͏͏ sale,͏͏ the͏͏ platform͏͏ recorded͏͏ 9X͏͏ growth͏͏ in͏͏ credit͏͏ card͏͏ payments͏͏ compared͏͏ to͏͏ business͏͏ as͏͏ usual͏͏ (BAU),͏͏ while͏͏ its͏͏ co-branded͏͏ credit͏͏ card͏͏ with͏͏ Kotak͏͏ Mahindra͏͏ Bank͏͏ saw͏͏ an͏͏ 8X͏͏ increase͏͏ in͏͏ transactions͏͏ on͏͏ the͏͏ opening͏͏ day͏͏ compared͏͏ to͏͏ last͏͏ year.͏͏ The͏͏ Flipkart-owned͏͏ marketplace͏͏ also͏͏ noted͏͏ 4.5X͏͏ growth͏͏ in͏͏ its͏͏ EMI͏͏ instruments͏͏ over͏͏ regular͏͏ business.

Emerging͏͏ as͏͏ a͏͏ leading͏͏ Gen͏͏ Z͏͏ fashion͏͏ destination͏͏ in͏͏ the͏͏ country,͏͏ FWD͏͏ by͏͏ Myntra͏͏ recorded͏͏ double͏͏ the͏͏ demand͏͏ compared͏͏ to͏͏ business͏͏ as͏͏ usual͏͏ (BAU),͏͏ driven͏͏ by͏͏ men’s͏͏ Gen͏͏ Z͏͏ fashion,͏͏ which͏͏ achieved͏͏ approximately͏͏ 3.4X͏͏ growth͏͏ over͏͏ BAU.

Reflecting͏͏ on͏͏ the͏͏ success͏͏ of͏͏ the͏͏ event,͏͏ Neha͏͏ Wali,͏͏ Senior͏͏ Director͏͏ of͏͏ Revenue͏͏ and͏͏ Growth͏͏ at͏͏ Myntra,͏͏ stated,͏͏ “During͏͏ this͏͏ BFF,͏͏ shoppers͏͏ from͏͏ across͏͏ the͏͏ country͏͏ flocked͏͏ to͏͏ the͏͏ Myntra͏͏ platform͏͏ to͏͏ take͏͏ advantage͏͏ of͏͏ value-driven͏͏ offers͏͏ on͏͏ millions͏͏ of͏͏ products͏͏ in͏͏ fashion,͏͏ beauty,͏͏ and͏͏ lifestyle.͏͏ The͏͏ 3X͏͏ value͏͏ constructs͏͏ significantly͏͏ attracted͏͏ customers,͏͏ making͏͏ their͏͏ shopping͏͏ experience͏͏ even͏͏ more͏͏ rewarding.͏͏ We͏͏ anticipate͏͏ that͏͏ the͏͏ positive͏͏ shopping͏͏ sentiment͏͏ will͏͏ continue͏͏ in͏͏ the͏͏ coming͏͏ weeks.”

Continue͏͏ Exploring:͏͏ Myntra expects͏͏ 1.6-fold͏͏ increase͏͏ in͏͏ traffic͏͏ during͏͏ upcoming͏͏ Big͏͏ Fashion͏͏ Festival

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Govt to crack down on quick commerce firms over non-compliance with mandatory disclosures

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Quick Commerce

The government plans to take action against quick commerce companies after receiving several consumer complaints about their lack of mandatory disclosures,͏͏ such͏͏ as͏͏ expiry͏͏ dates,͏͏ for͏͏ grocery͏͏ and͏͏ other͏͏ daily͏͏ essentials͏͏ available͏͏ on͏͏ their͏͏ platforms,͏͏ as͏͏ reported͏͏ by͏͏ ET,͏͏ citing͏͏ a͏͏ senior͏͏ official.

The͏͏ Legal͏͏ Metrology͏͏ (Packaged͏͏ Commodities)͏͏ Amendment͏͏ Rules͏͏ 2017͏͏ require͏͏ that͏͏ “best͏͏ before͏͏ or͏͏ use͏͏ by”͏͏ dates,͏͏ including͏͏ the͏͏ date,͏͏ month,͏͏ and͏͏ year,͏͏ be͏͏ displayed͏͏ on͏͏ digital͏͏ platforms.

If͏͏ a͏͏ consumer͏͏ orders͏͏ a͏͏ 5-kg͏͏ pack͏͏ of͏͏ atta͏͏ and͏͏ receives͏͏ one͏͏ that͏͏ is͏͏ set͏͏ to͏͏ expire͏͏ in͏͏ the͏͏ next͏͏ three͏͏ to͏͏ four͏͏ days,͏͏ they͏͏ may͏͏ feel͏͏ cheated,͏͏ especially͏͏ since͏͏ there͏͏ is͏͏ no͏͏ option͏͏ to͏͏ return͏͏ it,͏͏ explained͏͏ the͏͏ official.

Major͏͏ Players͏͏ Lacking͏͏ Compliance:

Major͏͏ quick͏͏ commerce͏͏ companies͏͏ like͏͏ Zomato-owned͏͏ Blinkit,͏͏ Zepto,͏͏ and͏͏ Swiggy͏͏ Instamart͏͏ fail͏͏ to͏͏ display͏͏ the͏͏ expiry͏͏ date,͏͏ best͏͏ before͏͏ date,͏͏ or͏͏ use͏͏ by͏͏ date͏͏ for͏͏ grocery͏͏ and͏͏ food͏͏ products,͏͏ leaving͏͏ consumers͏͏ unaware͏͏ of͏͏ how͏͏ long͏͏ the͏͏ products͏͏ can͏͏ be͏͏ safely͏͏ consumed.

On͏͏ the͏͏ other͏͏ hand,͏͏ Flipkart’s͏͏ recently͏͏ introduced͏͏ quick͏͏ commerce͏͏ service,͏͏ Flipkart͏͏ Minutes,͏͏ does͏͏ include͏͏ the͏͏ expiry͏͏ dates͏͏ for͏͏ products͏͏ available͏͏ on͏͏ its͏͏ platform.

Emails͏͏ sent͏͏ to͏͏ the͏͏ spokespersons͏͏ of͏͏ Blinkit,͏͏ Instamart,͏͏ Zepto,͏͏ and͏͏ BBNow͏͏ went͏͏ unanswered.

“We͏͏ are͏͏ reviewing͏͏ the͏͏ complaints͏͏ received͏͏ through͏͏ the͏͏ National͏͏ Consumer͏͏ Helpline͏͏ (NCH)͏͏ and͏͏ categorising͏͏ them,”͏͏ the͏͏ official͏͏ stated,͏͏ noting͏͏ that͏͏ the͏͏ lack͏͏ of͏͏ expiry͏͏ date͏͏ information͏͏ is͏͏ a͏͏ significant͏͏ issue.

Continue͏͏ Exploring:͏͏ India’s͏͏ quick commerce sales͏͏ surge͏͏ 280%͏͏ in͏͏ two͏͏ years,͏͏ expected͏͏ to͏͏ reach͏͏ USD͏͏ 9.95͏͏ Bn͏͏ by͏͏ 2029

Investigation͏͏ by͏͏ Consumer͏͏ Protection͏͏ Authority:

The͏͏ Central͏͏ Consumer͏͏ Protection͏͏ Authority͏͏ (CCPA),͏͏ functioning͏͏ under͏͏ the͏͏ consumer͏͏ affairs͏͏ ministry,͏͏ is͏͏ investigating͏͏ the͏͏ issue͏͏ and͏͏ is͏͏ expected͏͏ to͏͏ take͏͏ action͏͏ soon,͏͏ the͏͏ person͏͏ added.

While͏͏ the͏͏ best͏͏ before͏͏ date͏͏ indicates͏͏ how͏͏ long͏͏ a͏͏ product͏͏ maintains͏͏ its͏͏ quality,͏͏ the͏͏ use͏͏ by͏͏ or͏͏ expiry͏͏ date͏͏ specifies͏͏ until͏͏ when͏͏ it͏͏ can͏͏ be͏͏ safely͏͏ consumed.

A͏͏ senior͏͏ executive͏͏ at͏͏ a͏͏ prominent͏͏ snack͏͏ foods͏͏ company͏͏ expressed͏͏ support͏͏ for͏͏ the͏͏ strict͏͏ enforcement͏͏ of͏͏ this͏͏ rule.

Continue͏͏ Exploring:͏͏ Over͏͏ 30%͏͏ of͏͏ shoppers͏͏ rely͏͏ on͏͏ quick commerce for͏͏ essentials:͏͏ NielsenIQ

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