D2C GIVA raises INR 255 cr to expand offline presence
GIVA, a direct-to-consumer (D2C) jewellery brand, has raised INR 255 crore ($30.3 million) in its expanded Series B funding round. The investment came from Premji Invest, Epiq Capital, and Edelweiss Discover Fund.
Investments allow exit for A91 Partners and others
According to Inc42, the funding round, with 35% primary and 65% secondary investments, allowed partial exits for A91 Partners and India Quotient. The new capital will help GIVA expand its offline presence in India, increase its lab-grown diamond offerings, and support strategic investor exits.
In a media release, Ishendra Agarwal, founder and CEO of GIVA Jewellery quoted after investments, “Our focus remains steadfast on holding our position as the no.1 silver jewellery player in the market with further fortifying our lab-grown diamond segment, broadening our gold offerings, and consolidating our market presence.”
GIVA to expand lab-grown diamond segment with partnerships
Moving forward, The brand plans to strengthen its lab-grown diamond segment with strategic partnerships and innovations. It will also expand its gold offerings to meet consumer needs. The company aims to boost its market presence with targeted marketing efforts.
Established in 2019 by Ishendra Agarwal, Nikita Prasad, and Sachin Shett, GIVA trades in genuine 925 fine silver jewellery. It later expanded into 14K and 18K gold and lab-grown diamond jewellery. The brand has its own stores nationwide and also sells through Shoppers Stop and other chains.
In the previous year, The brand secured INR 270 crore ($32.9 million) in Series B funding, led by Premji Invest. Existing investors Aditya Birla Ventures, Alteria Capital, and A91 Partners also joined. Of the total, INR 200 crore was primary funding, while INR 70 crore came from a secondary stake sale, allowing some early investors to exit.
Meanwhile, GIVA’s operating revenue surpassed INR 100 crore in the financial year ending March 31, 2023. Their revenue jumped 97% to INR 165 crore in FY23, up from INR 84 crore the year before. However, their net loss increased 138% to INR 45.2 crore from INR 19 crore, as their total spending more than doubled to INR 212.3 crore from INR 104 crore.
India’s lifestyle brand Kingdom of White Secures Investment from Actor Rana Daggubati
Actor Rana Daggubati has invested an unknown amount in Kingdom of White, an all-white lifestyle brand. On Monday, October 14, the digital-first brand announced its plan to expand across India using an omnichannel strategy.
Actor invests undisclosed amount in India’s first all white brand
According to ET Retail, Vineet Haralalka, co-founder of Kingdom of White, released a statement regarding the investment, saying, “We’re thrilled to welcome Rana Daggubati to our family. His investment will help us grow our footprint across India while introducing our curated, minimalist styles to more customers.”
Meanwhile, Rana Daggubati joining Kingdom of White is a great match because of his keen business sense and success as an entrepreneur and investor, as well as his impressive acting career. His partnership shows his dedication to supporting innovative ideas that connect with consumers and promote stylish fashion choices.
Actor Rana Daggubati also mentioned, “Investing in brands with a unique story has always been important to me, and the Kingdom of White is truly redefining the essence of wearing white.” He further added, “Their commitment to quality, craftsmanship, and style immediately stood out to me. After exploring their collection, I was genuinely impressed by the versatility and timeless appeal of their designs. This is more than just clothing; it is about creating an elegant statement that resonates with consumers who value simplicity, sophistication, and the art of wearing white.”
Kingdom of White to expands its presence offline and online
Actor shared his excitement in relation to backing, saying, “I am thrilled to be part of this journey and connect with those who share a passion for refined, versatile fashion.”
After the funding, Kingdom of White plans to grow its presence in physical stores and online platforms, making its stylish all-white products accessible to fashion-forward customers across India. With Rana Daggubati’s backing, the brand aims to leave a significant mark on the fashion industry by promoting the elegance and versatility of wearing white.
Right now, the brand is available in over 20 retail stores in major cities and also sells on e-commerce platforms like Myntra, Amazon, Ajio, and Nykaa Fashion.
Gadda CO ties up with ‘Shaktimaan’ Mukesh Khanna as Brand Ambassador
GADDA CO has teamed up with Mukesh Khanna, the famous actor from Shaktimaan and Bhishma, as their brand ambassador highlighting their focus on quality sleep solutions like mattresses and bedding essentials.
Mukesh Khanna reiterates Gadda Co formula for Good Sleep
According to media news4u, Mukesh Khanna expressed his enthusiasm about teaming up for this partnership, “I have always believed in the power of good health, and quality sleep is at the foundation of that. GADDA CO has proven to be a brand that cares deeply about offering products that enhance the quality of life for people across India.”
Actor Mukesh explained, “Their dedication to quality, comfort, and durability aligns with my personal values, and I am excited to be a part of this journey, whether it’s the mattresses or the protectors, their attention to detail in crafting products that support good sleep is truly commendable.”
Partnering with Mukesh Khanna is a smart move for GADDA CO. to boost brand recognition and connect with Indian consumers. They aim to redefine comfort and offer customers a peaceful sleep experience.
CEO Shish Kharesiya eyes new heights with actor
Regarding the collaboration, Shish Kharesiya, Founder and CEO of House of Brands – Baby & Mom Retail said, “Having Mukesh Khanna on board as our brand ambassador is an honour. His association with GADDA CO. perfectly resonates with our brand’s values of providing reliable, long-lasting products.” He further added, “We are excited to take our brand to new heights with him by our side. At GADDA CO., we believe that everyone deserves a restful, comfortable sleep, and with Mukesh Khanna as our ambassador, we aim to communicate this message more effectively to our audience.”
Founded by Shish Kharesiya, GADDA CO., under Baby & Mom Retail, is known for quality sleep products. Collaborating with Bollywood actor Mukesh Khanna showcases the brand’s commitment to growth in India.
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).
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