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Britannia Bel Foods launches new cheese manufacturing facility in Maharashtra

By
M Haziq Pandit
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Britannia Bel Foods

Britannia Bel Foods, a joint venture between Britannia Industries Ltd. and the France-based Bel Group, has inaugurated a new local cheese manufacturing facility in Ranjangaon, Maharashtra.

This͏͏ facility,͏͏ dedicated͏͏ to͏͏ producing͏͏ Britannia͏͏ The͏͏ Laughing͏͏ Cow͏͏ cheese͏͏ products,͏͏ reflects͏͏ the͏͏ company’s͏͏ commitment͏͏ to͏͏ delivering͏͏ high-quality,͏͏ locally͏͏ made͏͏ dairy͏͏ products͏͏ to͏͏ Indian͏͏ consumers,͏͏ as͏͏ stated͏͏ in͏͏ a͏͏ press͏͏ release.

Leveraging͏͏ Maharashtra’s͏͏ Strong͏͏ Dairy͏͏ Ecosystem:

The͏͏ new͏͏ factory͏͏ is͏͏ strategically͏͏ positioned͏͏ in͏͏ Maharashtra,͏͏ a͏͏ leading͏͏ state͏͏ in͏͏ milk͏͏ production,͏͏ leveraging͏͏ its͏͏ strong͏͏ dairy͏͏ ecosystem.͏͏ As͏͏ noted͏͏ in͏͏ the͏͏ release,͏͏ the͏͏ plant͏͏ will͏͏ draw͏͏ approximately͏͏ 4͏͏ lakh͏͏ litres͏͏ of͏͏ cow’s͏͏ milk͏͏ each͏͏ day͏͏ from͏͏ over͏͏ 3,000͏͏ local͏͏ farmers.

The͏͏ new͏͏ greenfield͏͏ factory,͏͏ with͏͏ a͏͏ significant͏͏ investment͏͏ of͏͏ nearly͏͏ INR͏͏ 220͏͏ crore,͏͏ features͏͏ advanced͏͏ technology͏͏ and͏͏ five͏͏ production͏͏ lines͏͏ that͏͏ can͏͏ produce͏͏ approximately͏͏ 16,000͏͏ tonnes͏͏ of͏͏ cheese͏͏ annually,͏͏ according͏͏ to͏͏ the͏͏ release.

Continue͏͏ Exploring:͏͏ Britannia partners͏͏ with͏͏ Google͏͏ Cloud͏͏ and͏͏ Mindshare͏͏ to͏͏ launch͏͏ AI-powered͏͏ recipe͏͏ creation͏͏ platform

The͏͏ factory͏͏ will͏͏ produce͏͏ the͏͏ complete͏͏ range͏͏ of͏͏ Britannia͏͏ The͏͏ Laughing͏͏ Cow͏͏ products,͏͏ including͏͏ slices,͏͏ blocks,͏͏ spreads,͏͏ and͏͏ diced͏͏ cheese.

“This͏͏ plant͏͏ signifies͏͏ our͏͏ dedication͏͏ to͏͏ delivering͏͏ premium,͏͏ locally͏͏ produced͏͏ cheese͏͏ that͏͏ meets͏͏ the͏͏ highest͏͏ standards͏͏ of͏͏ quality͏͏ and͏͏ innovation,”͏͏ stated͏͏ Abhishek͏͏ Sinha,͏͏ CEO͏͏ of͏͏ Britannia͏͏ Bel͏͏ Foods.͏͏ He͏͏ expressed͏͏ optimism͏͏ that͏͏ this͏͏ initiative͏͏ would͏͏ bolster͏͏ the͏͏ cheese͏͏ business͏͏ in͏͏ India,͏͏ offering͏͏ consumers͏͏ an͏͏ exceptional͏͏ cheese͏͏ experience͏͏ tailored͏͏ to͏͏ their͏͏ evolving͏͏ tastes.

Shares͏͏ of͏͏ Britannia͏͏ Industries͏͏ dropped͏͏ by͏͏ as͏͏ much͏͏ as͏͏ 2.17%͏͏ to͏͏ Rs͏͏ 6,070͏͏ each.͏͏ However,͏͏ they͏͏ reduced͏͏ their͏͏ losses͏͏ to͏͏ close͏͏ 1.73%͏͏ lower͏͏ at͏͏ Rs͏͏ 6,097.25͏͏ per͏͏ share,͏͏ compared͏͏ to͏͏ a͏͏ 0.12%͏͏ decline͏͏ in͏͏ the͏͏ NSE͏͏ Nifty͏͏ 50͏͏ Index.

It͏͏ has͏͏ increased͏͏ by͏͏ 14.21%͏͏ year-to-date.͏͏ The͏͏ total͏͏ traded͏͏ volume͏͏ for͏͏ the͏͏ day͏͏ was͏͏ 1.36͏͏ times͏͏ its͏͏ 30-day͏͏ average.

Of͏͏ the͏͏ 38͏͏ analysts͏͏ monitoring͏͏ the͏͏ company,͏͏ 20͏͏ have͏͏ a͏͏ ‘buy’͏͏ rating,͏͏ 12͏͏ recommend͏͏ a͏͏ ‘hold,’͏͏ and͏͏ six͏͏ suggest͏͏ a͏͏ ‘sell,’͏͏ according͏͏ to͏͏ Bloomberg͏͏ data.͏͏ The͏͏ average͏͏ 12-month͏͏ consensus͏͏ price͏͏ target͏͏ indicates͏͏ a͏͏ potential͏͏ downside͏͏ of͏͏ 0.7%.

Continue͏͏ Exploring:͏͏ Britannia Industries͏͏ sees͏͏ 10.85%͏͏ profit͏͏ growth,͏͏ reaches͏͏ INR͏͏ 504.88͏͏ Cr͏͏ in͏͏ Q1͏͏ FY25

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Amazon teams up with Startup India to empower startups through e-commerce

By
M Haziq Pandit
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0
Amazon Startup India

Amazon India has teamed up with Startup India to launch several initiatives aimed at empowering startups to develop and expand their businesses through e-commerce.

“Amazon͏͏ will͏͏ partner͏͏ with͏͏ Startup͏͏ India͏͏ to͏͏ help͏͏ eligible͏͏ startups͏͏ access͏͏ e-commerce͏͏ opportunities͏͏ by͏͏ registering͏͏ on͏͏ Amazon͏͏ India’s͏͏ marketplace͏͏ through͏͏ a͏͏ dedicated͏͏ page͏͏ on͏͏ the͏͏ Startup͏͏ India͏͏ portal,”͏͏ the͏͏ e-commerce͏͏ giant͏͏ stated.

Dedicated͏͏ Onboarding͏͏ and͏͏ Support:

The͏͏ company͏͏ stated͏͏ that͏͏ it͏͏ will͏͏ offer͏͏ a͏͏ dedicated͏͏ onboarding͏͏ experience,͏͏ mentorship͏͏ from͏͏ Amazon͏͏ leaders,͏͏ go-to-market͏͏ support,͏͏ and͏͏ logistics͏͏ guidance͏͏ to͏͏ the͏͏ startups.

Empowering͏͏ Women͏͏ Entrepreneurs:

Amazon͏͏ also͏͏ aims͏͏ to͏͏ empower͏͏ women͏͏ entrepreneurs͏͏ through͏͏ its͏͏ ‘Saheli’͏͏ program͏͏ in͏͏ partnership͏͏ with͏͏ Startup͏͏ India.͏͏ The͏͏ Saheli͏͏ programme͏͏ is͏͏ designed͏͏ to͏͏ support͏͏ women͏͏ entrepreneurs͏͏ by͏͏ offering͏͏ a͏͏ platform͏͏ to͏͏ showcase͏͏ their͏͏ locally͏͏ made͏͏ products.

“The͏͏ collaboration͏͏ will͏͏ launch͏͏ a͏͏ high-impact͏͏ learning͏͏ program͏͏ aimed͏͏ at͏͏ accelerating͏͏ the͏͏ e-commerce͏͏ journeys͏͏ of͏͏ eligible͏͏ women-led͏͏ small͏͏ and͏͏ medium͏͏ businesses͏͏ in͏͏ India,”͏͏ the͏͏ statement͏͏ said.

Additionally,͏͏ Amazon͏͏ will͏͏ assist͏͏ in͏͏ raising͏͏ awareness͏͏ about͏͏ the͏͏ Bharat͏͏ Startup͏͏ Knowledge͏͏ Access͏͏ Registry͏͏ (BHASKAR)͏͏ initiative,͏͏ a͏͏ digital͏͏ platform͏͏ launched͏͏ by͏͏ the͏͏ central͏͏ government͏͏ to͏͏ promote͏͏ the͏͏ growth͏͏ of͏͏ the͏͏ Indian͏͏ startup͏͏ ecosystem.

“By͏͏ merging͏͏ Amazon’s͏͏ e-commerce͏͏ expertise͏͏ with͏͏ Startup͏͏ India’s͏͏ role͏͏ as͏͏ the͏͏ Government͏͏ of͏͏ India’s͏͏ flagship͏͏ initiative͏͏ for͏͏ developing͏͏ the͏͏ startup͏͏ ecosystem,͏͏ we͏͏ will͏͏ offer͏͏ a͏͏ strong͏͏ platform͏͏ for͏͏ Indian͏͏ startups͏͏ and͏͏ businesses͏͏ to͏͏ scale͏͏ domestically,”͏͏ said͏͏ DPIIT͏͏ Joint͏͏ Secretary͏͏ Sanjiv.

Earlier͏͏ this͏͏ month,͏͏ Amazon͏͏ India͏͏ partnered͏͏ with͏͏ India͏͏ Post͏͏ to͏͏ enable͏͏ customer͏͏ deliveries͏͏ to͏͏ every͏͏ pin͏͏ code͏͏ nationwide.

Continue͏͏ Exploring:͏͏ Amazon and͏͏ India͏͏ Post͏͏ join͏͏ forces͏͏ to͏͏ enhance͏͏ last-mile͏͏ delivery͏͏ across͏͏ India

Last͏͏ month,͏͏ the͏͏ e-commerce͏͏ platform͏͏ signed͏͏ a͏͏ memorandum͏͏ of͏͏ understanding͏͏ (MoU)͏͏ with͏͏ the͏͏ Ministry͏͏ of͏͏ Labour͏͏ and͏͏ Employment͏͏ to͏͏ list͏͏ job͏͏ opportunities͏͏ at͏͏ Amazon’s͏͏ corporate͏͏ offices͏͏ and͏͏ operations͏͏ network͏͏ on͏͏ the͏͏ National͏͏ Career͏͏ Service͏͏ (NCS)͏͏ portal.

Amazon͏͏ is͏͏ a͏͏ leading͏͏ player͏͏ in͏͏ India’s͏͏ e-commerce͏͏ market,͏͏ competing͏͏ with͏͏ platforms͏͏ like͏͏ Flipkart͏͏ and͏͏ Meesho.͏͏ Although͏͏ it͏͏ hasn’t͏͏ reached͏͏ profitability͏͏ in͏͏ the͏͏ country,͏͏ the͏͏ US-based͏͏ company͏͏ remains͏͏ focused͏͏ on͏͏ India͏͏ as͏͏ a͏͏ key͏͏ market͏͏ for͏͏ its͏͏ growth.

The͏͏ company,͏͏ however,͏͏ continues͏͏ to͏͏ face͏͏ regulatory͏͏ challenges͏͏ in͏͏ the͏͏ country.͏͏ Recently,͏͏ the͏͏ Competition͏͏ Commission͏͏ of͏͏ India͏͏ (CCI)͏͏ found͏͏ both͏͏ Amazon͏͏ and͏͏ Walmart-backed͏͏ Flipkart͏͏ guilty͏͏ of͏͏ violating͏͏ competition͏͏ laws.

The͏͏ antitrust͏͏ watchdog͏͏ has͏͏ requested͏͏ turnover͏͏ details͏͏ from͏͏ both͏͏ e-commerce͏͏ giants͏͏ to͏͏ assess͏͏ the͏͏ penalties͏͏ for͏͏ violating͏͏ antitrust͏͏ regulations.

Rising͏͏ Competition͏͏ from͏͏ Quick͏͏ Commerce:

Additionally,͏͏ Amazon͏͏ is͏͏ facing͏͏ growing͏͏ competition͏͏ from͏͏ quick͏͏ commerce͏͏ platforms͏͏ like͏͏ Zomato-owned͏͏ Blinkit,͏͏ Swiggy͏͏ Instamart,͏͏ and͏͏ Zepto͏͏ as͏͏ they͏͏ expand͏͏ their͏͏ product͏͏ offerings.

Continue͏͏ Exploring:͏͏ Amazon to͏͏ launch͏͏ quick͏͏ commerce͏͏ services͏͏ in͏͏ India͏͏ by͏͏ Q1͏͏ 2025

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Philanthropist and business icon Ratan Tata passes away at 86

By
M Haziq Pandit
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0
Ratan Tata

Ratan Tata, Chairman Emeritus of the Tata Group, passed away at 86 on Wednesday while receiving treatment for age-related medical conditions.

Tata͏͏ Sons͏͏ Chairman͏͏ N͏͏ Chandrasekaran͏͏ confirmed͏͏ his͏͏ demise͏͏ in͏͏ an͏͏ official͏͏ statement.

“It͏͏ is͏͏ with͏͏ deep͏͏ sadness͏͏ that͏͏ we͏͏ bid͏͏ farewell͏͏ to͏͏ Mr.͏͏ Ratan͏͏ Naval͏͏ Tata,͏͏ an͏͏ exceptional͏͏ leader͏͏ whose͏͏ remarkable͏͏ contributions͏͏ have͏͏ shaped͏͏ not͏͏ only͏͏ the͏͏ Tata͏͏ Group͏͏ but͏͏ also͏͏ the͏͏ very͏͏ fabric͏͏ of͏͏ our͏͏ nation.͏͏ On͏͏ behalf͏͏ of͏͏ the͏͏ entire͏͏ Tata͏͏ family,͏͏ I͏͏ extend͏͏ our͏͏ heartfelt͏͏ condolences͏͏ to͏͏ his͏͏ loved͏͏ ones,”͏͏ said͏͏ Chandrasekaran.

According͏͏ to͏͏ India͏͏ TV,͏͏ Tata͏͏ passed͏͏ away͏͏ at͏͏ Breach͏͏ Candy͏͏ Hospital͏͏ in͏͏ Mumbai,͏͏ where͏͏ he͏͏ had͏͏ been͏͏ admitted͏͏ to͏͏ the͏͏ intensive͏͏ care͏͏ unit͏͏ (ICU)͏͏ due͏͏ to͏͏ a͏͏ sudden͏͏ decline͏͏ in͏͏ his͏͏ health͏͏ and͏͏ a͏͏ significant͏͏ drop͏͏ in͏͏ blood͏͏ pressure.

Condoling͏͏ his͏͏ demise,͏͏ Prime͏͏ Minister͏͏ Narendra͏͏ Modi͏͏ said,͏͏ “I͏͏ am͏͏ deeply͏͏ saddened͏͏ by͏͏ his͏͏ passing.͏͏ My͏͏ thoughts͏͏ are͏͏ with͏͏ his͏͏ family,͏͏ friends,͏͏ and͏͏ admirers͏͏ during͏͏ this͏͏ difficult͏͏ time.͏͏ Om͏͏ Shanti.”

Harsh͏͏ Goenka,͏͏ Chairperson͏͏ of͏͏ the͏͏ RPG͏͏ Group,͏͏ tweeted,͏͏ “The͏͏ clock͏͏ has͏͏ stopped͏͏ ticking.͏͏ A͏͏ titan͏͏ has͏͏ passed͏͏ away.͏͏ #RatanTata͏͏ was͏͏ a͏͏ beacon͏͏ of͏͏ integrity,͏͏ ethical͏͏ leadership,͏͏ and͏͏ philanthropy,͏͏ leaving͏͏ an͏͏ indelible͏͏ mark͏͏ on͏͏ the͏͏ business͏͏ world͏͏ and͏͏ beyond.͏͏ He͏͏ will͏͏ always͏͏ soar͏͏ high͏͏ in͏͏ our͏͏ memories.͏͏ R.I.P.”

“I͏͏ cannot͏͏ accept͏͏ the͏͏ absence͏͏ of͏͏ Ratan͏͏ Tata.͏͏ With͏͏ him͏͏ gone,͏͏ our͏͏ only͏͏ option͏͏ is͏͏ to͏͏ commit͏͏ to͏͏ emulating͏͏ his͏͏ example.͏͏ He͏͏ was͏͏ a͏͏ businessman͏͏ who͏͏ believed͏͏ that͏͏ financial͏͏ wealth͏͏ and͏͏ success͏͏ were͏͏ most͏͏ valuable͏͏ when͏͏ dedicated͏͏ to͏͏ serving͏͏ the͏͏ global͏͏ community.͏͏ Goodbye͏͏ and͏͏ Godspeed,͏͏ Mr.͏͏ T,”͏͏ said͏͏ Anand͏͏ Mahindra,͏͏ Chairman͏͏ of͏͏ the͏͏ Mahindra͏͏ Group.

Synonymous͏͏ with͏͏ Indian͏͏ industry,͏͏ Tata,͏͏ even͏͏ at͏͏ the͏͏ age͏͏ of͏͏ 86,͏͏ commanded͏͏ a͏͏ level͏͏ of͏͏ popularity͏͏ that͏͏ many͏͏ envied͏͏ and͏͏ few͏͏ could͏͏ attain.

A͏͏ Life͏͏ Dedicated͏͏ to͏͏ Business:

Born͏͏ on͏͏ December͏͏ 28,͏͏ 1937,͏͏ to͏͏ Naval͏͏ and͏͏ Soonoo͏͏ Tata,͏͏ Ratan͏͏ was͏͏ raised͏͏ by͏͏ his͏͏ grandmother,͏͏ Navajbai͏͏ R͏͏ Tata,͏͏ in͏͏ a͏͏ baroque͏͏ mansion͏͏ known͏͏ as͏͏ Tata͏͏ Palace͏͏ in͏͏ downtown͏͏ Bombay͏͏ (now͏͏ Mumbai).

He͏͏ completed͏͏ his͏͏ schooling͏͏ at͏͏ Campion͏͏ School͏͏ and͏͏ then͏͏ at͏͏ Cathedral͏͏ and͏͏ John͏͏ Connon͏͏ in͏͏ what͏͏ was͏͏ then͏͏ Bombay.

He͏͏ earned͏͏ a͏͏ bachelor’s͏͏ degree͏͏ in͏͏ Architecture͏͏ from͏͏ Cornell͏͏ University͏͏ in͏͏ the͏͏ US͏͏ in͏͏ 1962͏͏ and͏͏ briefly͏͏ worked͏͏ with͏͏ Jones͏͏ and͏͏ Emmons͏͏ in͏͏ Los͏͏ Angeles͏͏ before͏͏ returning͏͏ to͏͏ India͏͏ later͏͏ that͏͏ year.͏͏ It͏͏ was͏͏ also͏͏ the͏͏ year͏͏ he͏͏ joined͏͏ the͏͏ Tata͏͏ Group.

Nine͏͏ years͏͏ later,͏͏ after͏͏ working͏͏ with͏͏ various͏͏ companies͏͏ within͏͏ the͏͏ Group,͏͏ he͏͏ was͏͏ appointed͏͏ director-in-charge͏͏ of͏͏ the͏͏ National͏͏ Radio͏͏ and͏͏ Electronics͏͏ Company͏͏ Limited͏͏ in͏͏ 1971.͏͏ A͏͏ decade͏͏ later,͏͏ in͏͏ 1981,͏͏ he͏͏ took͏͏ on͏͏ the͏͏ role͏͏ of͏͏ chairman͏͏ of͏͏ Tata͏͏ Industries.

In͏͏ March͏͏ 1991,͏͏ he͏͏ became͏͏ the͏͏ chairman͏͏ of͏͏ Tata͏͏ Sons,͏͏ the͏͏ holding͏͏ company͏͏ of͏͏ the͏͏ Tata͏͏ Group,͏͏ stepping͏͏ into͏͏ the͏͏ shoes͏͏ of͏͏ giants͏͏ like͏͏ Jamsetji͏͏ Tata,͏͏ Dorab͏͏ Tata,͏͏ and͏͏ JRD͏͏ Tata.

Continue͏͏ Exploring:͏͏ Neville͏͏ Tata͏͏ takes͏͏ charge͏͏ of͏͏ Star͏͏ Bazaar,͏͏ marking͏͏ next͏͏ generation͏͏ leadership͏͏ in͏͏ Tata Group

Over͏͏ the͏͏ next͏͏ two͏͏ decades,͏͏ Ratan͏͏ Tata͏͏ increased͏͏ the͏͏ conglomerate’s͏͏ revenues͏͏ from͏͏ just͏͏ $5.7͏͏ billion͏͏ in͏͏ 1991͏͏ to͏͏ nearly͏͏ $100͏͏ billion͏͏ in͏͏ 2012,͏͏ the͏͏ year͏͏ he͏͏ stepped͏͏ down.͏͏ His͏͏ tenure͏͏ capitalised͏͏ on͏͏ the͏͏ opportunities͏͏ presented͏͏ by͏͏ liberalisation͏͏ and͏͏ the͏͏ wave͏͏ of͏͏ globalisation.

Under͏͏ his͏͏ leadership,͏͏ Tata͏͏ acquired͏͏ prominent͏͏ brands͏͏ such͏͏ as͏͏ Tetley,͏͏ Corus,͏͏ Jaguar͏͏ Land͏͏ Rover,͏͏ Brunner͏͏ Mond,͏͏ General͏͏ Chemical͏͏ Industrial͏͏ Products,͏͏ and͏͏ Daewoo.͏͏ In͏͏ recognition͏͏ of͏͏ his͏͏ contributions͏͏ to͏͏ the͏͏ Indian͏͏ business͏͏ landscape,͏͏ he͏͏ was͏͏ awarded͏͏ the͏͏ Padma͏͏ Vibhushan,͏͏ the͏͏ country’s͏͏ second-highest͏͏ civilian͏͏ honour,͏͏ by͏͏ the͏͏ Government͏͏ of͏͏ India͏͏ in͏͏ 2008.

Beyond͏͏ being͏͏ a͏͏ prominent͏͏ newsmaker,͏͏ Ratan͏͏ Tata͏͏ recognised͏͏ a͏͏ significant͏͏ opportunity͏͏ in͏͏ the͏͏ Indian͏͏ startup͏͏ ecosystem͏͏ as͏͏ early͏͏ as͏͏ 2014,͏͏ when͏͏ the͏͏ term͏͏ “entrepreneurship”͏͏ had͏͏ yet͏͏ to͏͏ become͏͏ a͏͏ buzzword.

Pioneering͏͏ the͏͏ Startup͏͏ Ecosystem:

Notably,͏͏ Tata͏͏ had͏͏ a͏͏ significant͏͏ impact͏͏ on͏͏ the͏͏ Indian͏͏ startup͏͏ ecosystem,͏͏ being͏͏ one͏͏ of͏͏ the͏͏ early͏͏ backers͏͏ of͏͏ major͏͏ players͏͏ like͏͏ Paytm,͏͏ Snapdeal,͏͏ and͏͏ Urban͏͏ Company.

He͏͏ made͏͏ his͏͏ first͏͏ investment͏͏ in͏͏ Snapdeal͏͏ in͏͏ 2014,͏͏ when͏͏ it͏͏ was͏͏ still͏͏ a͏͏ relatively͏͏ unknown͏͏ e-commerce͏͏ startup.͏͏ His͏͏ investment͏͏ is͏͏ believed͏͏ to͏͏ have͏͏ played͏͏ a͏͏ crucial͏͏ role͏͏ in͏͏ helping͏͏ Snapdeal͏͏ remain͏͏ competitive͏͏ in͏͏ the͏͏ Indian͏͏ e-commerce͏͏ industry.

Continuing͏͏ his͏͏ support,͏͏ Tata͏͏ invested͏͏ in͏͏ a͏͏ small͏͏ recharge͏͏ platform͏͏ in͏͏ 2015,͏͏ which͏͏ later͏͏ transformed͏͏ into͏͏ the͏͏ fintech͏͏ powerhouse͏͏ Paytm.

In͏͏ addition,͏͏ he͏͏ supported͏͏ several͏͏ other͏͏ prominent͏͏ Indian͏͏ startups͏͏ in͏͏ the͏͏ following͏͏ years,͏͏ including͏͏ ride-hailing͏͏ giant͏͏ Ola,͏͏ health͏͏ and͏͏ fitness͏͏ startup͏͏ CureFit,͏͏ auto͏͏ marketplace͏͏ CarDekho,͏͏ and͏͏ eyewear͏͏ leader͏͏ Lenskart,͏͏ with͏͏ many͏͏ more͏͏ on͏͏ the͏͏ list.

He͏͏ also͏͏ made͏͏ significant͏͏ investments͏͏ in͏͏ startups͏͏ such͏͏ as͏͏ the͏͏ kids-focused͏͏ omnichannel͏͏ marketplace͏͏ Firstcry,͏͏ the͏͏ consumer͏͏ service͏͏ platform͏͏ Urban͏͏ Company,͏͏ B2B͏͏ e-commerce͏͏ leader͏͏ Moglix,͏͏ and͏͏ the͏͏ discount͏͏ brokerage͏͏ platform͏͏ Upstox.

In͏͏ one͏͏ of͏͏ his͏͏ interviews,͏͏ Tata͏͏ famously͏͏ remarked͏͏ that͏͏ he͏͏ considered͏͏ these͏͏ investments͏͏ in͏͏ startups͏͏ to͏͏ be͏͏ a͏͏ “learning͏͏ experience.”

In͏͏ a͏͏ 2021͏͏ interview͏͏ with͏͏ a͏͏ TV͏͏ channel,͏͏ he͏͏ elaborated͏͏ on͏͏ his͏͏ experiences͏͏ as͏͏ an͏͏ investor͏͏ in͏͏ Indian͏͏ startups.͏͏ He͏͏ mentioned͏͏ that͏͏ his͏͏ initial͏͏ interest͏͏ in͏͏ entrepreneurship͏͏ was͏͏ sparked͏͏ during͏͏ his͏͏ early͏͏ days͏͏ at͏͏ Tata,͏͏ when͏͏ he͏͏ encouraged͏͏ the͏͏ company͏͏ to͏͏ explore͏͏ emerging͏͏ computer͏͏ and͏͏ software͏͏ startups͏͏ in͏͏ the͏͏ Bay͏͏ Area.

Regarding͏͏ his͏͏ criteria͏͏ for͏͏ supporting͏͏ new-age͏͏ tech͏͏ companies,͏͏ Tata͏͏ once͏͏ stated͏͏ that͏͏ he͏͏ focused͏͏ on͏͏ entrepreneurs’͏͏ vision͏͏ and͏͏ commitment,͏͏ not͏͏ just͏͏ the͏͏ potential͏͏ of͏͏ a͏͏ business͏͏ model.͏͏ He͏͏ emphasized͏͏ the͏͏ importance͏͏ of͏͏ founders͏͏ who͏͏ were͏͏ genuinely͏͏ passionate͏͏ about͏͏ creating͏͏ something͏͏ sustainable͏͏ and͏͏ impactful,͏͏ rather͏͏ than͏͏ those͏͏ seeking͏͏ a͏͏ quick͏͏ exit.

During͏͏ his͏͏ decade-long͏͏ involvement͏͏ in͏͏ the͏͏ Indian͏͏ startup͏͏ ecosystem,͏͏ Tata͏͏ invested͏͏ in͏͏ over͏͏ 50͏͏ startups.͏͏ However,͏͏ beyond͏͏ his͏͏ investments,͏͏ new-age͏͏ entrepreneurs͏͏ admired͏͏ him͏͏ for͏͏ his͏͏ sharp͏͏ business͏͏ acumen,͏͏ strong͏͏ governance͏͏ practices,͏͏ philanthropy,͏͏ and͏͏ significant͏͏ impact͏͏ on͏͏ society.

For͏͏ now,͏͏ the͏͏ nation͏͏ mourns͏͏ the͏͏ loss͏͏ of͏͏ Ratan͏͏ Tata,͏͏ a͏͏ prominent͏͏ business͏͏ icon͏͏ whose͏͏ absence͏͏ has͏͏ created͏͏ an͏͏ irreplaceable͏͏ void͏͏ within͏͏ India͏͏ Inc.

Continue͏͏ Exploring:͏͏ Tata Group eyes͏͏ expansion͏͏ with͏͏ potential͏͏ stake͏͏ purchase͏͏ in͏͏ Fabindia’s͏͏ apparel͏͏ business

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YouTuber Ashish Chanchlani enters beauty and wellness industry, joins OG Beauty as co-founder

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M Haziq Pandit
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Ashish Chanchlani OG Beauty

Popular YouTuber Ashish Chanchlani has entered the beauty and wellness industry by co-founding OG Beauty, a brand that seeks to stand out through its unique perspective and creative vision. Known͏͏ for͏͏ his͏͏ humorous͏͏ and͏͏ entertaining͏͏ content,͏͏ Chanchlani͏͏ is͏͏ now͏͏ set͏͏ to͏͏ make͏͏ a͏͏ significant͏͏ impact͏͏ in͏͏ the͏͏ beauty͏͏ realm,͏͏ actively͏͏ contributing͏͏ to͏͏ the͏͏ brand’s͏͏ development͏͏ and͏͏ strategic͏͏ direction.

Ashish Chanchlani’s͏͏ Active͏͏ Role͏͏ in͏͏ Shaping͏͏ OG Beauty:

OG͏͏ Beauty͏͏ is͏͏ carving͏͏ out͏͏ its͏͏ identity͏͏ as͏͏ a͏͏ distinctive͏͏ and͏͏ innovative͏͏ brand,͏͏ separate͏͏ from͏͏ its͏͏ parent͏͏ company,͏͏ RENEE͏͏ Cosmetics.͏͏ The͏͏ collaboration͏͏ with͏͏ Chanchlani͏͏ is͏͏ intended͏͏ to͏͏ position͏͏ OG͏͏ Beauty͏͏ as͏͏ a͏͏ forward-thinking͏͏ brand,͏͏ harnessing͏͏ his͏͏ large͏͏ following͏͏ and͏͏ creative͏͏ energy͏͏ to͏͏ engage͏͏ a͏͏ broader͏͏ audience.͏͏ Unlike͏͏ conventional͏͏ celebrity͏͏ endorsements,͏͏ Chanchlani’s͏͏ role͏͏ at͏͏ OG͏͏ Beauty͏͏ is͏͏ much͏͏ more͏͏ involved.͏͏ As͏͏ a͏͏ co-founder,͏͏ he͏͏ will͏͏ take͏͏ an͏͏ active͏͏ part͏͏ in͏͏ product͏͏ development͏͏ and͏͏ marketing͏͏ initiatives,͏͏ directly͏͏ shaping͏͏ the͏͏ brand’s͏͏ vision͏͏ and͏͏ future͏͏ direction.

Continue͏͏ Exploring:͏͏ Samantha͏͏ Prabhu͏͏ invests͏͏ in͏͏ D2C͏͏ wellness brand͏͏ Secret͏͏ Alchemist,͏͏ joins͏͏ as͏͏ co-founder

Ashish͏͏ Chanchalani,͏͏ Co-founder͏͏ of͏͏ OG͏͏ Beauty,͏͏ stated,͏͏ “My͏͏ fitness͏͏ journey͏͏ has͏͏ sparked͏͏ a͏͏ passion͏͏ for͏͏ self-love͏͏ and͏͏ self-expression.͏͏ Collaborating͏͏ with͏͏ OG͏͏ Beauty͏͏ allows͏͏ me͏͏ to͏͏ merge͏͏ my͏͏ love͏͏ for͏͏ content͏͏ creation͏͏ with͏͏ my͏͏ goal͏͏ of͏͏ developing͏͏ impactful͏͏ products.͏͏ Together,͏͏ we͏͏ aim͏͏ to͏͏ create͏͏ fun,͏͏ effective,͏͏ and͏͏ affordable͏͏ skincare͏͏ and͏͏ wellness͏͏ solutions͏͏ that͏͏ empower͏͏ everyone͏͏ to͏͏ feel͏͏ confident͏͏ and͏͏ beautiful.”

This͏͏ partnership͏͏ represents͏͏ a͏͏ significant͏͏ milestone͏͏ for͏͏ both͏͏ OG͏͏ Beauty͏͏ and͏͏ Chanchlani,͏͏ as͏͏ he͏͏ joins͏͏ the͏͏ ranks͏͏ of͏͏ a͏͏ select͏͏ few͏͏ YouTubers͏͏ in͏͏ India͏͏ to͏͏ co-found͏͏ a͏͏ beauty͏͏ and͏͏ wellness͏͏ brand.͏͏ His͏͏ participation͏͏ is͏͏ expected͏͏ to͏͏ generate͏͏ significant͏͏ interest,͏͏ enhancing͏͏ OG͏͏ Beauty’s͏͏ visibility͏͏ and͏͏ bringing͏͏ a͏͏ refreshing͏͏ viewpoint͏͏ to͏͏ the͏͏ market.

With͏͏ Chanchalani’s͏͏ extensive͏͏ following͏͏ and͏͏ creative͏͏ insight,͏͏ OG͏͏ Beauty͏͏ seeks͏͏ to͏͏ revolutionize͏͏ the͏͏ beauty͏͏ and͏͏ wellness͏͏ market͏͏ by͏͏ providing͏͏ innovative͏͏ products͏͏ that͏͏ connect͏͏ with͏͏ today’s͏͏ consumers.͏͏ His͏͏ active͏͏ involvement͏͏ guarantees͏͏ that͏͏ the͏͏ brand͏͏ stays͏͏ genuine͏͏ and͏͏ attuned͏͏ to͏͏ the͏͏ changing͏͏ preferences͏͏ of͏͏ consumers,͏͏ paving͏͏ the͏͏ way͏͏ for͏͏ an͏͏ exciting͏͏ journey͏͏ for͏͏ both͏͏ OG͏͏ Beauty͏͏ and͏͏ its͏͏ co-founder,͏͏ Ashish͏͏ Chanchlani.

Continue͏͏ Exploring:͏͏ Ranveer͏͏ Singh-backed͏͏ Bold͏͏ Care͏͏ expands͏͏ into͏͏ women’s͏͏ wellness with͏͏ launch͏͏ of͏͏ ‘Bloom’

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D2C brand Mamaearth partners with Meesho to strengthen presence in tier 3 and beyond markets

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M Haziq Pandit
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mamaearth meesho

Beauty and personal care brand Mamaearth has joined forces with e-commerce platform Meesho to broaden its reach in tier 3 and smaller markets.

5x͏͏ Growth͏͏ During͏͏ Meesho Sale:

The͏͏ brand͏͏ saw͏͏ a͏͏ 5x͏͏ increase͏͏ in͏͏ growth͏͏ during͏͏ the͏͏ Meesho͏͏ sale͏͏ period͏͏ and͏͏ is͏͏ now͏͏ targeting͏͏ INR͏͏ 100͏͏ crore͏͏ in͏͏ annual͏͏ recurring͏͏ revenue͏͏ (ARR)͏͏ on͏͏ the͏͏ marketplace͏͏ over͏͏ the͏͏ next͏͏ 12͏͏ months.

Continue͏͏ Exploring:͏͏ Meesho partners͏͏ with͏͏ D2C brands͏͏ ahead͏͏ of͏͏ festive͏͏ season͏͏ to͏͏ boost͏͏ offerings

Varun͏͏ Alagh,͏͏ co-founder͏͏ and͏͏ CEO͏͏ of͏͏ Honasa͏͏ Consumer,͏͏ stated,͏͏ “We’ve͏͏ observed͏͏ an͏͏ increasing͏͏ demand͏͏ for͏͏ quality,͏͏ toxin-free͏͏ beauty͏͏ and͏͏ personal͏͏ care͏͏ products͏͏ from͏͏ tier͏͏ 3͏͏ and͏͏ smaller͏͏ markets.͏͏ This͏͏ partnership͏͏ with͏͏ Meesho͏͏ will͏͏ help͏͏ us͏͏ further͏͏ address͏͏ this͏͏ gap,͏͏ significantly͏͏ contributing͏͏ to͏͏ our͏͏ growth͏͏ by͏͏ improving͏͏ accessibility͏͏ and͏͏ fostering͏͏ consumer͏͏ trust͏͏ in͏͏ new͏͏ regions.”

Festive͏͏ Surge:͏͏ 226%͏͏ Increase͏͏ in͏͏ Orders͏͏ During͏͏ Meesho͏͏ Sale

During͏͏ Meesho’s͏͏ festive͏͏ sale,͏͏ the͏͏ beauty͏͏ and͏͏ personal͏͏ care͏͏ brand͏͏ experienced͏͏ a͏͏ 226͏͏ percent͏͏ surge͏͏ in͏͏ orders.͏͏ The͏͏ platform͏͏ has͏͏ enabled͏͏ its͏͏ products͏͏ to͏͏ reach͏͏ remote͏͏ locations͏͏ like͏͏ Belgaum,͏͏ Kashipur,͏͏ Bokaro,͏͏ Sivakasi,͏͏ and͏͏ Kushinagar,͏͏ according͏͏ to͏͏ the͏͏ release.

Recently,͏͏ Mamaearth͏͏ has͏͏ broadened͏͏ its͏͏ reach͏͏ within͏͏ the͏͏ Canteen͏͏ Stores͏͏ Department͏͏ (CSD)͏͏ under͏͏ the͏͏ Ministry͏͏ of͏͏ Defence͏͏ throughout͏͏ India.͏͏ Additionally,͏͏ it͏͏ has͏͏ formed͏͏ partnerships͏͏ with͏͏ Reliance͏͏ Retail͏͏ and͏͏ Apollo͏͏ Pharmacy͏͏ to͏͏ enhance͏͏ its͏͏ brand͏͏ presence͏͏ across͏͏ various͏͏ retail͏͏ channels.

Continue͏͏ Exploring:͏͏ Mamaearth products͏͏ now͏͏ available͏͏ at͏͏ Defence͏͏ Ministry’s͏͏ Canteen͏͏ Stores

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Bikano expands product line with new besan-based snacks

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M Haziq Pandit
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Bikano

Leading snack brand Bikano has expanded its offerings with a new range of besan-based products: Loung Sev, Ratlami Sev, and Bhavnagri Ghanthiya. This͏͏ move͏͏ reflects͏͏ Bikano’s͏͏ dedication͏͏ to͏͏ catering͏͏ to͏͏ the͏͏ increasing͏͏ demand͏͏ for͏͏ traditional,͏͏ authentic͏͏ Indian͏͏ snacks.

The͏͏ decision͏͏ to͏͏ launch͏͏ these͏͏ products͏͏ is͏͏ driven͏͏ by͏͏ the͏͏ growing͏͏ consumer͏͏ preference͏͏ for͏͏ savoury,͏͏ indulgent͏͏ snacks͏͏ that͏͏ celebrate͏͏ regional͏͏ flavours.͏͏ “At͏͏ Bikano,͏͏ we͏͏ are͏͏ dedicated͏͏ to͏͏ honouring͏͏ the͏͏ rich͏͏ tapestry͏͏ of͏͏ Indian͏͏ culinary͏͏ traditions.͏͏ Our͏͏ new͏͏ offerings,͏͏ Loung͏͏ Sev,͏͏ Ratlami͏͏ Sev,͏͏ and͏͏ Bhavnagri͏͏ Ghanthiya,͏͏ are͏͏ more͏͏ than͏͏ just͏͏ snacks;͏͏ they͏͏ pay͏͏ tribute͏͏ to͏͏ the͏͏ authentic͏͏ flavours͏͏ that͏͏ connect͏͏ us͏͏ to͏͏ our͏͏ heritage.”

“By͏͏ prioritising͏͏ high-quality͏͏ besan͏͏ and͏͏ traditional͏͏ spices,͏͏ we͏͏ aim͏͏ to͏͏ deliver͏͏ the͏͏ unique͏͏ taste͏͏ of͏͏ these͏͏ iconic͏͏ snacks͏͏ to͏͏ consumers͏͏ nationwide,͏͏ satisfying͏͏ their͏͏ nostalgic͏͏ cravings͏͏ while͏͏ ensuring͏͏ consistent͏͏ quality͏͏ and͏͏ flavour,”͏͏ said͏͏ Manish͏͏ Aggarwal,͏͏ Director͏͏ at͏͏ Bikanervala͏͏ Foods͏͏ Pvt͏͏ Ltd.

Continue͏͏ Exploring:͏͏ Bikano expands͏͏ portfolio͏͏ with͏͏ Bombay͏͏ Mixture,͏͏ eyes͏͏ increased͏͏ market͏͏ share

Market͏͏ Potential:

India’s͏͏ besan-based͏͏ snacks͏͏ market͏͏ offers͏͏ immense͏͏ potential,͏͏ with͏͏ annual͏͏ production͏͏ surpassing͏͏ 5͏͏ million͏͏ tons,͏͏ accounting͏͏ for͏͏ over͏͏ 50%͏͏ of͏͏ the͏͏ country’s͏͏ desi͏͏ chickpea͏͏ output.͏͏ Bikano͏͏ has͏͏ identified͏͏ strong͏͏ regional͏͏ demand,͏͏ particularly͏͏ in͏͏ Madhya͏͏ Pradesh͏͏ and͏͏ Rajasthan,͏͏ which͏͏ significantly͏͏ contributes͏͏ to͏͏ its͏͏ revenue.͏͏ The͏͏ company͏͏ anticipates͏͏ that͏͏ these͏͏ new͏͏ products͏͏ will͏͏ enhance͏͏ sales͏͏ in͏͏ the͏͏ namkeen͏͏ category͏͏ by͏͏ targeting͏͏ urban͏͏ and͏͏ rural͏͏ markets,͏͏ especially͏͏ in͏͏ tier-2͏͏ and͏͏ tier-3͏͏ cities͏͏ where͏͏ besan͏͏ snacks͏͏ are͏͏ particularly͏͏ popular.͏͏ This͏͏ expansion͏͏ is͏͏ expected͏͏ to͏͏ drive͏͏ both͏͏ volume͏͏ and͏͏ value͏͏ growth͏͏ for͏͏ Bikano.

Meeting͏͏ Regional͏͏ Demand:

The͏͏ new͏͏ offerings͏͏ address͏͏ the͏͏ robust͏͏ demand͏͏ for͏͏ besan-based͏͏ snacks͏͏ in͏͏ regions͏͏ like͏͏ Madhya͏͏ Pradesh͏͏ and͏͏ Rajasthan,͏͏ where͏͏ these͏͏ traditional͏͏ items͏͏ are͏͏ staples͏͏ in͏͏ many͏͏ households.͏͏ Ratlami͏͏ Sev,͏͏ Bhavnagri͏͏ Ghanthiya,͏͏ and͏͏ Loung͏͏ Sev͏͏ are͏͏ especially͏͏ popular,͏͏ enjoyed͏͏ both͏͏ as͏͏ everyday͏͏ snacks͏͏ and͏͏ during͏͏ special͏͏ occasions.

The͏͏ products͏͏ are͏͏ made͏͏ with͏͏ high-quality͏͏ besan͏͏ (gram͏͏ flour)͏͏ and͏͏ traditional͏͏ Indian͏͏ spices͏͏ to͏͏ ensure͏͏ authentic͏͏ flavours.͏͏ They͏͏ are͏͏ offered͏͏ in͏͏ two͏͏ convenient͏͏ pack͏͏ sizes:͏͏ 18g͏͏ priced͏͏ at͏͏ INR͏͏ 5͏͏ and͏͏ 38g͏͏ priced͏͏ at͏͏ INR͏͏ 10,͏͏ making͏͏ them͏͏ both͏͏ affordable͏͏ and͏͏ ideal͏͏ for͏͏ on-the-go͏͏ snacking.

“To͏͏ successfully͏͏ launch͏͏ Loung͏͏ Sev,͏͏ Ratlami͏͏ Sev,͏͏ and͏͏ Bhavnagri͏͏ Ghanthiya͏͏ in͏͏ Madhya͏͏ Pradesh͏͏ and͏͏ Rajasthan,͏͏ we͏͏ are͏͏ implementing͏͏ a͏͏ comprehensive͏͏ marketing͏͏ and͏͏ promotional͏͏ strategy.͏͏ This͏͏ includes͏͏ regional͏͏ advertising͏͏ in͏͏ local͏͏ newspapers͏͏ to͏͏ highlight͏͏ the͏͏ authenticity͏͏ of͏͏ our͏͏ products.͏͏ We͏͏ will͏͏ engage͏͏ consumers͏͏ through͏͏ in-store͏͏ promotions͏͏ such͏͏ as͏͏ sampling͏͏ events.͏͏

Additionally,͏͏ participating͏͏ in͏͏ local͏͏ festivals͏͏ and͏͏ food͏͏ events͏͏ will͏͏ enable͏͏ us͏͏ to͏͏ connect͏͏ directly͏͏ with͏͏ the͏͏ community.͏͏ Our͏͏ digital͏͏ marketing͏͏ efforts͏͏ will͏͏ concentrate͏͏ on͏͏ geo-targeted͏͏ ads͏͏ and͏͏ social͏͏ media͏͏ campaigns͏͏ tailored͏͏ to͏͏ regional͏͏ preferences.͏͏ This͏͏ all-encompassing͏͏ approach͏͏ aims͏͏ to͏͏ build͏͏ strong͏͏ brand͏͏ awareness͏͏ and͏͏ encourage͏͏ product͏͏ trials͏͏ in͏͏ these͏͏ key͏͏ markets,”͏͏ explained͏͏ Kush͏͏ Aggarwal,͏͏ marketing͏͏ head͏͏ at͏͏ Bikano.

Strengthening͏͏ Market͏͏ Position:

With͏͏ the͏͏ launch͏͏ of͏͏ these͏͏ products,͏͏ Bikano͏͏ aims͏͏ to͏͏ strengthen͏͏ its͏͏ position͏͏ in͏͏ the͏͏ competitive͏͏ namkeen͏͏ category.͏͏ The͏͏ company͏͏ anticipates͏͏ a͏͏ significant͏͏ boost͏͏ to͏͏ its͏͏ market͏͏ presence,͏͏ driven͏͏ by͏͏ the͏͏ growing͏͏ consumer͏͏ demand͏͏ for͏͏ authentic,͏͏ regionally-inspired͏͏ snacks.

Continue͏͏ Exploring:͏͏ Bikano expands͏͏ portfolio͏͏ with͏͏ ‘Madras’͏͏ and͏͏ ‘Kerala’͏͏ flavor͏͏ mixtures,͏͏ targets͏͏ 2-4%͏͏ market͏͏ share͏͏ in͏͏ Southern͏͏ India

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Pernod Ricard launches Asia’s largest malt distillery in Nagpur

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M Haziq Pandit
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Pernod Ricard malt distillery

Pernod Ricard India has achieved a significant milestone with the launch of Asia’s largest malt distillery and maturation facility in Butibori, Nagpur, Maharashtra.

Strategic͏͏ Investment͏͏ Plans:

The͏͏ company͏͏ stated͏͏ that͏͏ this͏͏ is͏͏ the͏͏ first͏͏ step͏͏ towards͏͏ fulfilling͏͏ its͏͏ Memorandum͏͏ of͏͏ Understanding͏͏ (MoU)͏͏ with͏͏ the͏͏ Government͏͏ of͏͏ Maharashtra,͏͏ signed͏͏ on͏͏ 23͏͏ February͏͏ 2024.͏͏ Pernod͏͏ Ricard͏͏ plans͏͏ to͏͏ invest͏͏ up͏͏ to͏͏ INR͏͏ 1,785͏͏ crore͏͏ in͏͏ India͏͏ over͏͏ the͏͏ next͏͏ decade.

Since͏͏ the͏͏ MoU͏͏ was͏͏ signed,͏͏ Pernod͏͏ Ricard͏͏ India͏͏ has͏͏ allocated͏͏ around͏͏ INR͏͏ 100͏͏ crore,͏͏ which͏͏ includes͏͏ land͏͏ costs.͏͏ The͏͏ company͏͏ has͏͏ also͏͏ advanced͏͏ in͏͏ operational͏͏ and͏͏ construction͏͏ planning,͏͏ with͏͏ the͏͏ design͏͏ and͏͏ layout͏͏ of͏͏ the͏͏ facility͏͏ being͏͏ finalised.

The͏͏ project͏͏ aims͏͏ to͏͏ develop͏͏ comprehensive͏͏ capabilities͏͏ for͏͏ producing͏͏ world-class͏͏ malt͏͏ spirits͏͏ in͏͏ India͏͏ and͏͏ to͏͏ establish͏͏ Asia’s͏͏ largest͏͏ malt͏͏ plant,͏͏ with͏͏ a͏͏ production͏͏ capacity͏͏ of͏͏ up͏͏ to͏͏ 13͏͏ million͏͏ pure͏͏ alcoholic͏͏ litres͏͏ per͏͏ year.

Continue͏͏ Exploring:͏͏ Pernod Ricard India bets͏͏ big͏͏ on͏͏ premiumisation,͏͏ targets͏͏ 3x͏͏ revenue͏͏ growth͏͏ with͏͏ new͏͏ whisky͏͏ launches

Maharashtra’s͏͏ Deputy͏͏ Chief͏͏ Minister,͏͏ Devendra͏͏ Fadnavis,͏͏ stated,͏͏ “Pernod͏͏ Ricard͏͏ India’s͏͏ decision͏͏ to͏͏ invest͏͏ in͏͏ Asia’s͏͏ largest͏͏ malt͏͏ spirit͏͏ distillery͏͏ and͏͏ maturation͏͏ facility͏͏ in͏͏ Maharashtra͏͏ highlights͏͏ India’s͏͏ rising͏͏ prominence͏͏ in͏͏ the͏͏ global͏͏ economy.”

“This͏͏ landmark͏͏ project͏͏ will͏͏ greatly͏͏ enhance͏͏ local͏͏ employment͏͏ by͏͏ creating͏͏ job͏͏ opportunities͏͏ for͏͏ hundreds͏͏ of͏͏ individuals͏͏ while͏͏ promoting͏͏ skill͏͏ development͏͏ and͏͏ entrepreneurship.͏͏ It͏͏ will͏͏ stimulate͏͏ economic͏͏ growth,͏͏ benefiting͏͏ farmers͏͏ and͏͏ multiple͏͏ sectors,͏͏ and͏͏ aligns͏͏ seamlessly͏͏ with͏͏ our͏͏ vision͏͏ for͏͏ a͏͏ dynamic,͏͏ diversified,͏͏ and͏͏ self-reliant͏͏ economy.”

Empowering͏͏ Local͏͏ Agriculture:

The͏͏ project͏͏ is͏͏ set͏͏ to͏͏ create͏͏ direct͏͏ employment͏͏ for͏͏ 700͏͏ to͏͏ 800͏͏ individuals,͏͏ with͏͏ additional͏͏ indirect͏͏ job͏͏ opportunities͏͏ anticipated͏͏ across͏͏ the͏͏ region.͏͏ It͏͏ will͏͏ also͏͏ offer͏͏ farmers͏͏ the͏͏ chance͏͏ to͏͏ grow͏͏ high-quality͏͏ barley.

Jean͏͏ Touboul,͏͏ CEO͏͏ of͏͏ Pernod͏͏ Ricard͏͏ India,͏͏ stated,͏͏ “This͏͏ facility͏͏ will͏͏ leverage͏͏ Pernod͏͏ Ricard’s͏͏ rich͏͏ heritage͏͏ in͏͏ premium͏͏ spirits͏͏ production.͏͏ We͏͏ take͏͏ pride͏͏ in͏͏ leading͏͏ this͏͏ transformation͏͏ and͏͏ contributing͏͏ to͏͏ the͏͏ economic͏͏ and͏͏ social͏͏ prosperity͏͏ of͏͏ Maharashtra͏͏ and͏͏ beyond.͏͏ Our͏͏ vision͏͏ is͏͏ to͏͏ create͏͏ a͏͏ sustainable͏͏ future͏͏ where͏͏ India͏͏ becomes͏͏ a͏͏ hub͏͏ for͏͏ premium͏͏ malt͏͏ spirits͏͏ made͏͏ with͏͏ global͏͏ precision͏͏ and͏͏ local͏͏ passion.”

Continue͏͏ Exploring:͏͏ India͏͏ outpaces͏͏ China,͏͏ becomes͏͏ 2nd-largest͏͏ market͏͏ for͏͏ Pernod Ricard

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Bluestone’s FY24 revenue up 64%, losses narrow despite rising expenses

By
M Haziq Pandit
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0
Bluestone

Jewellery retailer Bluestone has reported a 64% increase in operating revenue for the year ended March 2024, according to data from Tofler. Additionally,͏͏ the͏͏ company͏͏ narrowed͏͏ its͏͏ annual͏͏ losses͏͏ by͏͏ about͏͏ 15%͏͏ to͏͏ INR͏͏ 142.2͏͏ crore.

The͏͏ Bengaluru-based͏͏ company’s͏͏ operational͏͏ revenue͏͏ surged͏͏ to͏͏ INR͏͏ 1,265.8͏͏ crore͏͏ in͏͏ FY24,͏͏ a͏͏ significant͏͏ rise͏͏ from͏͏ INR͏͏ 770.7͏͏ crore͏͏ in͏͏ FY23.͏͏ Overall,͏͏ its͏͏ total͏͏ revenue͏͏ for͏͏ FY24͏͏ amounted͏͏ to͏͏ INR͏͏ 1,303.4͏͏ crore,͏͏ compared͏͏ to͏͏ INR͏͏ 787.8͏͏ crore͏͏ the͏͏ year͏͏ before.

However,͏͏ Accel-backed͏͏ Bluestone’s͏͏ total͏͏ expenses͏͏ soared͏͏ to͏͏ INR͏͏ 1,445.7͏͏ crore͏͏ at͏͏ the͏͏ end͏͏ of͏͏ March,͏͏ up͏͏ from͏͏ INR͏͏ 955.1͏͏ crore͏͏ the͏͏ previous͏͏ year.͏͏ Material͏͏ costs,͏͏ including͏͏ raw͏͏ materials,͏͏ accounted͏͏ for͏͏ over͏͏ 85%͏͏ of͏͏ the͏͏ total͏͏ expenses.͏͏ Additionally,͏͏ employee͏͏ benefit͏͏ costs͏͏ rose͏͏ by͏͏ more͏͏ than͏͏ 50%,͏͏ reaching͏͏ INR͏͏ 138.4͏͏ crore͏͏ in͏͏ FY24.

Positive͏͏ Outlook͏͏ for͏͏ Future͏͏ Growth:

“The͏͏ company͏͏ has͏͏ successfully͏͏ increased͏͏ revenue͏͏ in͏͏ existing͏͏ stores͏͏ over͏͏ the͏͏ year,͏͏ leading͏͏ to͏͏ improved͏͏ margins,”͏͏ it͏͏ stated.͏͏ “As͏͏ a͏͏ result,͏͏ it͏͏ anticipates͏͏ further͏͏ enhancement͏͏ in͏͏ cash͏͏ flow͏͏ from͏͏ operations͏͏ through͏͏ revenue͏͏ growth͏͏ from͏͏ both͏͏ existing͏͏ and͏͏ new͏͏ customers.”

In͏͏ August,͏͏ Snackfax͏͏ had͏͏ reported͏͏ that͏͏ Bluestone͏͏ raised͏͏ INR͏͏ 900͏͏ crore͏͏ in͏͏ a͏͏ financing͏͏ round,͏͏ which͏͏ more͏͏ than͏͏ doubled͏͏ its͏͏ valuation͏͏ to͏͏ $970͏͏ million͏͏ (about͏͏ INR 8,100͏͏ crore).͏͏ The͏͏ round͏͏ attracted͏͏ investments͏͏ from͏͏ Peak͏͏ XV͏͏ Partners,͏͏ Prosus,͏͏ Steadview͏͏ Capital,͏͏ Think͏͏ Investments,͏͏ and͏͏ Pratithi͏͏ Investments,͏͏ the͏͏ family͏͏ office͏͏ of͏͏ Infosys͏͏ co-founder͏͏ Kris͏͏ Gopalakrishnan.

Continue͏͏ Exploring:͏͏ Jewellery brand Bluestone bags͏͏ INR͏͏ 900͏͏ Cr͏͏ in͏͏ pre-IPO͏͏ funding,͏͏ valuation͏͏ hits͏͏ $970͏͏ Mn

Upcoming͏͏ IPO Plans͏͏ on͏͏ the͏͏ Horizon:

Bluestone͏͏ is͏͏ set͏͏ to͏͏ file͏͏ its͏͏ draft͏͏ red͏͏ herring͏͏ prospectus͏͏ for͏͏ an͏͏ initial͏͏ public͏͏ offering͏͏ (IPO)͏͏ of͏͏ nearly͏͏ INR͏͏ 2,000͏͏ crore͏͏ later͏͏ this͏͏ year.

Founded͏͏ in͏͏ 2011͏͏ by͏͏ Gaurav͏͏ Singh͏͏ Kushwaha͏͏ and͏͏ Vidya͏͏ Nataraj,͏͏ Bluestone͏͏ operates͏͏ both͏͏ online͏͏ and͏͏ through͏͏ its͏͏ own͏͏ retail͏͏ stores,͏͏ as͏͏ well͏͏ as͏͏ franchise-owned͏͏ locations.͏͏ The͏͏ company͏͏ currently͏͏ has͏͏ around͏͏ 220͏͏ offline͏͏ stores͏͏ and͏͏ aims͏͏ to͏͏ expand͏͏ this͏͏ number͏͏ to͏͏ 400͏͏ within͏͏ the͏͏ next͏͏ 12͏͏ to͏͏ 18͏͏ months.

Investor͏͏ interest͏͏ in͏͏ omnichannel͏͏ jewellery͏͏ platforms͏͏ in͏͏ India͏͏ has͏͏ surged͏͏ recently,͏͏ particularly͏͏ following͏͏ Titan’s͏͏ acquisitiBluestone’s FY24 revenue up 64%, losses narrow despite rising expenseson͏͏ of͏͏ a͏͏ stake͏͏ in͏͏ CaratLane͏͏ from͏͏ founder͏͏ Mithun͏͏ Sacheti͏͏ last͏͏ year.͏͏ In͏͏ July,͏͏ silver͏͏ jewellery͏͏ maker͏͏ Giva͏͏ announced͏͏ it͏͏ had͏͏ raised͏͏ INR͏͏ 200͏͏ crore͏͏ in͏͏ a͏͏ Series͏͏ B͏͏ funding͏͏ round͏͏ led͏͏ by͏͏ Premji͏͏ Invest.

Continue͏͏ Exploring:͏͏ Jewellery retailer Bluestone on͏͏ track͏͏ to͏͏ become͏͏ unicorn͏͏ in͏͏ pre-IPO͏͏ funding͏͏ round

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Varun Beverages to raise INR 7,500 Cr through QIP for strategic expansion

By
M Haziq Pandit
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0
Varun Beverages

PepsiCo‘s leading bottler, Varun Beverages, plans to raise INR 7,500 crore from the market through a Qualified Institutions Placement (QIP) to finance its growth initiatives. In͏͏ a͏͏ board͏͏ meeting͏͏ held͏͏ on͏͏ Wednesday,͏͏ the͏͏ company͏͏ approved͏͏ the͏͏ proposal͏͏ to͏͏ “raise͏͏ funds͏͏ through͏͏ the͏͏ issuance͏͏ of͏͏ equity͏͏ shares͏͏ for͏͏ an͏͏ aggregate͏͏ amount͏͏ not͏͏ exceeding͏͏ INR͏͏ 7,500͏͏ crore”͏͏ via͏͏ QIP,͏͏ according͏͏ to͏͏ a͏͏ regulatory͏͏ filing.

The͏͏ funds͏͏ will͏͏ be͏͏ raised͏͏ in͏͏ “one͏͏ or͏͏ more͏͏ tranches”͏͏ and͏͏ will͏͏ require͏͏ the͏͏ approval͏͏ of͏͏ the͏͏ company’s͏͏ equity͏͏ shareholders͏͏ via͏͏ a͏͏ postal͏͏ ballot,͏͏ it͏͏ added.

Continue͏͏ Exploring:͏͏ Varun Beverages eyes͏͏ untapped͏͏ markets͏͏ with͏͏ focus͏͏ on͏͏ production͏͏ capacity͏͏ and͏͏ distribution͏͏ expansion

Funds͏͏ to͏͏ Support͏͏ Growth͏͏ Initiatives:

The͏͏ proceeds͏͏ from͏͏ this͏͏ fundraising͏͏ will͏͏ be͏͏ used͏͏ for͏͏ “investments͏͏ in͏͏ subsidiaries,͏͏ joint͏͏ ventures,͏͏ or͏͏ associates”͏͏ and͏͏ to͏͏ “support͏͏ the͏͏ growth͏͏ of͏͏ existing͏͏ businesses,͏͏ including͏͏ expanding͏͏ the͏͏ product͏͏ portfolio,͏͏ entering͏͏ new͏͏ markets,͏͏ and͏͏ making͏͏ strategic͏͏ acquisitions.”

This͏͏ will͏͏ also͏͏ facilitate͏͏ the͏͏ “pre-payment͏͏ or͏͏ repayment”͏͏ of͏͏ debts͏͏ and͏͏ support͏͏ general͏͏ corporate͏͏ purposes,͏͏ Varun͏͏ Beverages͏͏ Ltd͏͏ (VBL)͏͏ stated͏͏ in͏͏ a͏͏ regulatory͏͏ filing.

VBL͏͏ accounts͏͏ for͏͏ 90͏͏ percent͏͏ of͏͏ PepsiCo’s͏͏ beverage͏͏ sales͏͏ volume͏͏ in͏͏ India.

Continue͏͏ Exploring:͏͏ Varun Beverages’͏͏ Q2͏͏ PAT͏͏ surges͏͏ 26%͏͏ YoY͏͏ to͏͏ INR͏͏ 1,262͏͏ Cr,͏͏ revenue͏͏ rises͏͏ 28%

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Nykaa enters quick commerce fray with 10-minute delivery pilot in Mumbai

By
M Haziq Pandit
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0
Nykaa

Nykaa, the listed beauty marketplace, is reportedly planning to enter the quick commerce sector to reclaim market share from competitors such as Blinkit, Zepto, and Swiggy Instamart.

According͏͏ to͏͏ an͏͏ ET͏͏ report,͏͏ Nykaa͏͏ has͏͏ launched͏͏ a͏͏ 10-minute͏͏ delivery͏͏ pilot͏͏ in͏͏ certain͏͏ areas͏͏ of͏͏ Mumbai,͏͏ covering͏͏ 5%͏͏ of͏͏ its͏͏ SKU͏͏ base.

Boosting͏͏ Delivery͏͏ Options:

In͏͏ September,͏͏ Nykaa͏͏ announced͏͏ its͏͏ plans͏͏ to͏͏ enhance͏͏ next-day͏͏ and͏͏ same-day͏͏ deliveries͏͏ to͏͏ meet͏͏ the͏͏ rising͏͏ demand͏͏ for͏͏ quick͏͏ commerce͏͏ models.͏͏ Falguni͏͏ Nayar,͏͏ Nykaa’s͏͏ chairperson,͏͏ MD,͏͏ and͏͏ CEO,͏͏ mentioned͏͏ at͏͏ the͏͏ company’s͏͏ AGM͏͏ that͏͏ next-day͏͏ deliveries͏͏ currently͏͏ account͏͏ for͏͏ 60%͏͏ of͏͏ all͏͏ orders͏͏ from͏͏ the͏͏ marketplace’s͏͏ top͏͏ 110͏͏ cities.

Continue͏͏ Exploring:͏͏ Nykaa accelerates͏͏ same-day͏͏ and͏͏ next-day͏͏ deliveries,͏͏ achieves͏͏ 60%͏͏ fulfillment͏͏ rate͏͏ in͏͏ 110͏͏ cities

Competing͏͏ in͏͏ a͏͏ Growing͏͏ Quick Commerce Landscape:

Quick͏͏ commerce͏͏ platforms͏͏ such͏͏ as͏͏ Blinkit,͏͏ Zepto,͏͏ Swiggy͏͏ Instamart,͏͏ BigBasket,͏͏ and͏͏ Flipkart͏͏ Minutes͏͏ are͏͏ aiming͏͏ to͏͏ capitalise͏͏ on͏͏ festive͏͏ season͏͏ demand͏͏ by͏͏ expanding͏͏ their͏͏ beauty͏͏ and͏͏ personal͏͏ care͏͏ SKUs.

For͏͏ numerous͏͏ D2C͏͏ beauty͏͏ brands,͏͏ partnering͏͏ with͏͏ quick͏͏ commerce͏͏ platforms͏͏ allows͏͏ them͏͏ to͏͏ get͏͏ closer͏͏ to͏͏ their͏͏ consumers.͏͏ Furthermore,͏͏ these͏͏ platforms͏͏ facilitate͏͏ impulse͏͏ buying,͏͏ making͏͏ them͏͏ particularly͏͏ attractive͏͏ to͏͏ modern͏͏ beauty͏͏ brands.

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

Anticipating͏͏ a͏͏ Surge͏͏ in͏͏ Beauty͏͏ Product͏͏ Sales:

“We͏͏ have͏͏ observed͏͏ rapid͏͏ adoption͏͏ of͏͏ skincare͏͏ and͏͏ beauty͏͏ products͏͏ on͏͏ quick͏͏ commerce͏͏ platforms,͏͏ a͏͏ trend͏͏ that͏͏ is͏͏ expected͏͏ to͏͏ grow͏͏ in͏͏ the͏͏ coming͏͏ months.͏͏ This͏͏ could͏͏ impact͏͏ niche͏͏ players͏͏ like͏͏ Nykaa,͏͏ Purplle,͏͏ and͏͏ others͏͏ that͏͏ have͏͏ been͏͏ market͏͏ leaders.͏͏ We͏͏ anticipate͏͏ a͏͏ surge͏͏ in͏͏ small-ticket͏͏ purchases͏͏ and͏͏ non-makeup͏͏ product͏͏ orders͏͏ on͏͏ quick͏͏ commerce͏͏ platforms͏͏ during͏͏ this͏͏ festive͏͏ season,”͏͏ said͏͏ Satish͏͏ Meena,͏͏ an͏͏ adviser͏͏ at͏͏ market͏͏ intelligence͏͏ firm͏͏ Datum͏͏ Intelligence,͏͏ earlier͏͏ this͏͏ month.

Many͏͏ of͏͏ Nykaa’s͏͏ private͏͏ labels͏͏ are͏͏ available͏͏ on͏͏ Blinkit,͏͏ Zepto,͏͏ and͏͏ Swiggy͏͏ Instamart,͏͏ providing͏͏ Nykaa͏͏ with͏͏ insight͏͏ into͏͏ the͏͏ advantages͏͏ of͏͏ quick͏͏ commerce.͏͏ However,͏͏ this͏͏ rise͏͏ in͏͏ quick͏͏ commerce͏͏ has͏͏ negatively͏͏ impacted͏͏ Nykaa’s͏͏ core͏͏ marketplace͏͏ business.

Ahead͏͏ of͏͏ its͏͏ Q2͏͏ FY24͏͏ results,͏͏ Nykaa͏͏ reported͏͏ consolidated͏͏ revenue͏͏ growth͏͏ in͏͏ the͏͏ mid-twenties͏͏ for͏͏ the͏͏ second͏͏ quarter͏͏ of͏͏ the͏͏ current͏͏ financial͏͏ year͏͏ 2024-25͏͏ (FY25).

Continue͏͏ Exploring:͏͏ Nykaa reports͏͏ mid-twenties͏͏ revenue͏͏ growth͏͏ in͏͏ Q2;͏͏ fashion͏͏ vertical͏͏ faces͏͏ slowdown

The͏͏ company͏͏ stated͏͏ that͏͏ its͏͏ beauty͏͏ vertical͏͏ performed͏͏ strongly,͏͏ while͏͏ the͏͏ fashion͏͏ vertical͏͏ continues͏͏ to͏͏ underperform.

Nykaa͏͏ is͏͏ not͏͏ the͏͏ only͏͏ player͏͏ keen͏͏ to͏͏ explore͏͏ the͏͏ quick͏͏ commerce͏͏ trend.͏͏ Recently,͏͏ this͏͏ model͏͏ has͏͏ expanded͏͏ beyond͏͏ groceries͏͏ to͏͏ include͏͏ fashion͏͏ and͏͏ lifestyle͏͏ sectors,͏͏ such͏͏ as͏͏ beauty͏͏ and͏͏ personal͏͏ care.

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