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Blinkit’s growth is not affecting kirana stores: Zomato CEO Deepinder Goyal

By
Ashutosh Dubey
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Zomato CEO Deepinder Goyal, Blinkit
Blinkit’s growth is not affecting kirana stores: Zomato CEO Deepinder Goyal

Deepinder Goyal, Zomato co-founder and chief executive stated that Blinkit‘s fast delivery doesn’t threaten local kirana stores; instead, it rivals online shopping and ecommerce websites.

Q Commerce Blinkit shares market with Amazon and Flipkart

During a recent event on Saturday, Deepinder said, “Blinkit is not really eating into the kiranas at all. It is not even affecting companies like Dmart. I think we’re more or less eating into the Amazons and the Flipkarts, the ecommerce sector, as well as the modern retail in the larger cities.”

Continue͏͏ Exploring:͏͏ Zomato’s Deepinder Goyal excluded from Shark Tank India as rival Swiggy takes sponsorship

Notably, Zomato’s quick commerce division, Blinkit, had a strong first quarter of FY25. It more than doubled its revenue to INR 942 crore, compared to INR 384 crore in the same period last year, and also saw 130% growth in the April-June quarter, reaching INR 4,923 crore in gross order value.

He further added, “I think the growth of quick commerce has been a surprise for us as well. We didn’t think it would grow this much.”

According to Blinkit’s quarterly report, the firm is growing without taking market share from small local stores or discount marts like Dmart. Instead, Albinder Dhindsa, chief executive of Blinkit, said that their success is driven by growing demand and a shift away from next-day online shopping and mid-range standalone retail stores in major cities.

Continue͏͏ Exploring:͏͏ Swiggy likely to have lower public market valuation than Zomato: Elara Capital

Furthermore, Dhindsa added, “The value-focused items available in these formats are hard to replicate in our business, especially in categories like staples, where price sensitivity is higher and we don’t have the ability to sell open stock-keeping units that brick and mortar can.”

India Q Commerce market expects to grow $22 billion by 2027

With a diverse range of products and rapid sales growth, quick delivery services are evolving into full-fledged online markets. BofA Securities expects the India quick commerce market will boom as it is slated to reach nearly $22 billion by 2027 from $2.8 billion in 2023 – a remarkable growth in just four years. Leading such companies are Zepto, based in Mumbai, and Instamart by Swiggy. Recently, Walmart-owned Flipkart, entered the competition with its quick delivery service, Minutes.

Meanwhile, Blinkit aims to triple its network, aiming for 2,000 delivery hubs, by the end of 2026.

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Eco Hotels adds three more properties, targets profitability by next FY

By
Ashutosh Dubey
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Eco Hotels
Eco Hotels adds three more properties, targets profitability by next FY

Eco Hotels and Resorts has acquired three more eco-friendly properties, taking the count to 178 rooms in the books of the company. The company is also on track to become profitable by the end of its next financial year.

Eco Hotels expands to Karnataka, Andhra and Maharashtra

Added to its portfolio are three properties, one of which is located in Mysore, Karnataka, and has 90 rooms, while the other two are located in Tirupati, Andhra Pradesh, and Nagpur, Maharashtra, and respectively count 44 rooms each. This makes up a total of 178 rooms added to the company’s books.

Continue͏͏ Exploring:͏͏ Andhra Pradesh Hotels Association to boycott food delivery apps from October 14

According to The Economic Times, Eco Hotels & Resorts CFO Vikram Doshi stated, “We are committed to turn the company into profit by the end of March 2026. We want to turn this company into one of the leading hotel companies of India.”

Furthermore, Eco Hotels is revolutionising eco-friendly hospitality in India, achieving remarkable success in its first year as per officials. It will now be developing hotels with zero carbon footprint as part of its sustainable hospitality play. The company will also be completing 400 rooms by the end of this month.

Company eyes to cross 400 rooms by October end

Notably, it took a giant leap with the board of directors agreeing to long-term leases in new properties. The company is almost finalising deals for purchasing hotels that are more rooms-60 in Shirdi, 72 in Jodhpur and 37 in Nagpur.

Continue͏͏ Exploring:͏͏ Underdoggs plans major expansion with 10 new outlets in 2024, eyes entry into global markets

As the Eco Hotels, an asset-light company focusing on the lease model, is rapidly expanding its presence. “Our present hotel capacity will cross 400 rooms by October end, and due diligence is on for a few properties across cities,” the company said. With ambitions to become a pan-India player, Eco Hotels is aggressively growing its network. “We would like to be a pan-India player. In that pursuit, we already have properties in Rajasthan, Kerala, Maharashtra, Gujarat, Karnataka, and Andhra Pradesh,” the company added.

Looking ahead, the company has also planned to expand around 500 hotel rooms in the next five years.

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Andhra Pradesh Hotels Association to boycott food delivery apps from October 14

By
M Haziq Pandit
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Food delivery

The Andhra Pradesh Hotels Association (APHA) has announced a statewide boycott of food delivery apps starting on October 14. This͏͏ decision͏͏ is͏͏ a͏͏ response͏͏ to͏͏ what͏͏ they͏͏ describe͏͏ as͏͏ unethical͏͏ business͏͏ practices͏͏ that͏͏ are͏͏ significantly͏͏ impacting͏͏ the͏͏ restaurant͏͏ industry.͏͏ It͏͏ follows͏͏ unsuccessful͏͏ negotiations͏͏ between͏͏ the͏͏ association͏͏ and͏͏ food͏͏ delivery͏͏ platforms͏͏ over͏͏ various͏͏ longstanding͏͏ issues͏͏ affecting͏͏ restaurant͏͏ owners.

Allegations͏͏ of͏͏ Misleading͏͏ Discounts:

APHA͏͏ has͏͏ alleged͏͏ that͏͏ a͏͏ food͏͏ delivery͏͏ platform͏͏ implements͏͏ steep͏͏ discounts͏͏ without͏͏ consent,͏͏ misleading͏͏ customers͏͏ into͏͏ thinking͏͏ these͏͏ offers͏͏ originate͏͏ from͏͏ the͏͏ restaurants.͏͏ These͏͏ discounts,͏͏ ranging͏͏ from͏͏ INR͏͏ 125͏͏ to͏͏ INR͏͏ 175,͏͏ have͏͏ resulted͏͏ in͏͏ substantial͏͏ revenue͏͏ losses͏͏ for͏͏ restaurants.͏͏ Additionally,͏͏ the͏͏ food͏͏ delivery͏͏ platforms͏͏ are͏͏ said͏͏ to͏͏ have͏͏ changed͏͏ menu͏͏ items͏͏ and͏͏ prices͏͏ without͏͏ restaurant͏͏ management’s͏͏ approval͏͏ and͏͏ introduced͏͏ deals͏͏ like͏͏ ‘buy͏͏ one͏͏ get͏͏ one͏͏ free,’͏͏ further͏͏ eroding͏͏ restaurant͏͏ profits.

Continue͏͏ Exploring:͏͏ Ordering͏͏ via͏͏ food delivery aggregators͏͏ costs͏͏ INR͏͏ 9,000-11,000͏͏ Cr͏͏ annually:͏͏ Report

According͏͏ to͏͏ a͏͏ press͏͏ release͏͏ from͏͏ APHA,͏͏ when͏͏ customers͏͏ cancel͏͏ orders͏͏ after͏͏ they͏͏ have͏͏ been͏͏ prepared,͏͏ the͏͏ apps͏͏ impose͏͏ strict͏͏ refund͏͏ policies͏͏ that͏͏ leave͏͏ restaurants͏͏ bearing͏͏ both͏͏ the͏͏ cost͏͏ of͏͏ the͏͏ food͏͏ and͏͏ the͏͏ loss͏͏ of͏͏ revenue.͏͏ Additionally,͏͏ restaurant͏͏ owners͏͏ face͏͏ exorbitant͏͏ promotional͏͏ fees.

Continue͏͏ Exploring:͏͏ Online͏͏ food delivery market͏͏ to͏͏ grow͏͏ 18%͏͏ YoY,͏͏ expected͏͏ to͏͏ reach͏͏ INR͏͏ 2͏͏ Lakh͏͏ Cr͏͏ by͏͏ 2030:͏͏ Bain-Swiggy͏͏ Report

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Tata’s Trent launches Zudio Beauty to compete in mass-priced beauty segment

By
M Haziq Pandit
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0
Tata's Trent Zudio Beauty

In a strategic move to expand its retail offerings, Noel Tata-led Trent has launched a new standalone store format, Zudio Beauty, aimed at competing in the mass-priced beauty segment with͏͏ brands͏͏ such͏͏ as͏͏ Hindustan͏͏ Unilever‘s͏͏ Elle18,͏͏ Sugar͏͏ Cosmetics,͏͏ Health͏͏ &͏͏ Glow,͏͏ and͏͏ Colorbar.

Expansion͏͏ Strategy͏͏ Targets͏͏ Affordable͏͏ Beauty Market:

“The͏͏ new͏͏ concept͏͏ store͏͏ is͏͏ part͏͏ of͏͏ our͏͏ strategy͏͏ to͏͏ penetrate͏͏ the͏͏ affordable͏͏ beauty͏͏ segment,͏͏ especially͏͏ as͏͏ competitors͏͏ like͏͏ Reliance,͏͏ Nykaa,͏͏ and͏͏ Shoppers͏͏ Stop͏͏ are͏͏ concentrating͏͏ on͏͏ premium͏͏ and͏͏ luxury͏͏ categories,”͏͏ said͏͏ two͏͏ executives͏͏ familiar͏͏ with͏͏ the͏͏ development.͏͏ They͏͏ also͏͏ mentioned͏͏ that͏͏ the͏͏ first͏͏ store͏͏ has͏͏ opened͏͏ in͏͏ Bengaluru,͏͏ with͏͏ Trent͏͏ planning͏͏ to͏͏ launch͏͏ additional͏͏ outlets͏͏ in͏͏ major͏͏ cities,͏͏ including͏͏ Gurugram,͏͏ Pune,͏͏ and͏͏ Hyderabad.

Tata,͏͏ the͏͏ founder͏͏ of͏͏ India’s͏͏ first͏͏ beauty͏͏ brand͏͏ Lakme,͏͏ which͏͏ was͏͏ later͏͏ sold͏͏ to͏͏ HUL,͏͏ is͏͏ already͏͏ involved͏͏ in͏͏ the͏͏ beauty͏͏ segment͏͏ with͏͏ its͏͏ high-end͏͏ cosmetics͏͏ store͏͏ format,͏͏ Tata͏͏ Cliq͏͏ Palette.

Zudio’s͏͏ Rapid͏͏ Growth͏͏ Outpaces͏͏ Competitors:

Zudio͏͏ has͏͏ become͏͏ a͏͏ significant͏͏ success͏͏ for͏͏ the͏͏ company͏͏ and͏͏ is͏͏ now͏͏ one͏͏ of͏͏ the͏͏ largest͏͏ apparel͏͏ brands͏͏ in͏͏ the͏͏ country.͏͏ Since͏͏ its͏͏ launch͏͏ in͏͏ FY17͏͏ as͏͏ part͏͏ of͏͏ Star͏͏ stores,͏͏ Zudio͏͏ has͏͏ seen͏͏ considerable͏͏ growth,͏͏ bolstered͏͏ by͏͏ an͏͏ exclusive͏͏ design͏͏ portfolio͏͏ and͏͏ a͏͏ low͏͏ gross͏͏ margin͏͏ of͏͏ 35-40%.͏͏ This͏͏ strategy͏͏ has͏͏ allowed͏͏ the͏͏ company͏͏ to͏͏ achieve͏͏ high͏͏ store͏͏ productivity,͏͏ generating͏͏ revenue͏͏ of͏͏ INR͏͏ 16,300͏͏ per͏͏ sq͏͏ ft—twice͏͏ the͏͏ industry͏͏ average.

Established͏͏ as͏͏ a͏͏ separate͏͏ format͏͏ from͏͏ Star͏͏ Bazaar͏͏ in͏͏ FY18,͏͏ Zudio͏͏ now͏͏ contributes͏͏ over͏͏ a͏͏ third͏͏ of͏͏ Trent’s͏͏ total͏͏ revenue,͏͏ up͏͏ from͏͏ just͏͏ 8%͏͏ a͏͏ few͏͏ years͏͏ ago.͏͏ It͏͏ has͏͏ become͏͏ the͏͏ fastest-growing͏͏ format͏͏ for͏͏ Trent,͏͏ surpassing͏͏ Westside͏͏ in͏͏ store͏͏ count͏͏ in͏͏ FY22͏͏ and͏͏ in͏͏ revenue͏͏ in͏͏ FY24.͏͏ As͏͏ of͏͏ June͏͏ this͏͏ year,͏͏ the͏͏ company͏͏ operated͏͏ 228͏͏ Westside͏͏ stores,͏͏ 559͏͏ Zudio͏͏ stores,͏͏ and͏͏ 36͏͏ stores͏͏ across͏͏ other͏͏ lifestyle͏͏ concepts.

Continue͏͏ Exploring:͏͏ Tata’s͏͏ affordable͏͏ fashion͏͏ label͏͏ Zudio outpaces͏͏ Westside,͏͏ surging͏͏ ahead͏͏ with͏͏ record͏͏ expansion͏͏ and͏͏ sales͏͏ in͏͏ FY24

Despite͏͏ several͏͏ retailers͏͏ operating͏͏ in͏͏ the͏͏ value͏͏ retailing͏͏ segment͏͏ for͏͏ over͏͏ a͏͏ decade,͏͏ Zudio͏͏ has͏͏ outperformed͏͏ most͏͏ existing͏͏ players͏͏ in͏͏ both͏͏ revenue͏͏ and͏͏ store͏͏ count.͏͏ Analysts͏͏ anticipate͏͏ a͏͏ similar͏͏ trend͏͏ in͏͏ the͏͏ beauty͏͏ sector͏͏ as͏͏ well.

“This͏͏ marks͏͏ another͏͏ disruptive͏͏ initiative͏͏ by͏͏ Trent͏͏ after͏͏ its͏͏ success͏͏ in͏͏ the͏͏ value͏͏ apparel͏͏ segment,͏͏ and͏͏ it͏͏ has͏͏ the͏͏ potential͏͏ to͏͏ succeed͏͏ if͏͏ consumers͏͏ appreciate͏͏ the͏͏ quality,”͏͏ stated͏͏ Abneesh͏͏ Roy,͏͏ executive͏͏ director͏͏ at͏͏ Nuvama.͏͏ “The͏͏ competition͏͏ in͏͏ this͏͏ space͏͏ is͏͏ primarily͏͏ similar͏͏ to͏͏ Nykaa,͏͏ which͏͏ could͏͏ negatively͏͏ impact͏͏ them͏͏ and͏͏ other͏͏ fast-moving͏͏ consumer͏͏ goods͏͏ brands.”

India:͏͏ A͏͏ Key͏͏ Growth͏͏ Market͏͏ for͏͏ Global͏͏ Cosmetics

This͏͏ year,͏͏ L’Oreal͏͏ SA͏͏ and͏͏ Shiseido,͏͏ two͏͏ of͏͏ the͏͏ world’s͏͏ largest͏͏ cosmetics͏͏ companies,͏͏ stated͏͏ that͏͏ India͏͏ is͏͏ rapidly͏͏ emerging͏͏ as͏͏ a͏͏ key͏͏ growth͏͏ driver͏͏ for͏͏ them,͏͏ driven͏͏ by͏͏ its͏͏ growing͏͏ population͏͏ and͏͏ people’s͏͏ increasing͏͏ interest͏͏ in͏͏ beauty͏͏ products.

Continue͏͏ Exploring:͏͏ India’s͏͏ beauty͏͏ market͏͏ booms:͏͏ L’Oreal͏͏ and͏͏ Shiseido͏͏ set͏͏ sights͏͏ on͏͏ rapid͏͏ expansion͏͏ amid͏͏ growing͏͏ consumer͏͏ demand

L’Oreal͏͏ noted͏͏ that͏͏ India͏͏ is͏͏ already͏͏ its͏͏ fifth-largest͏͏ market͏͏ in͏͏ the͏͏ professional͏͏ products͏͏ division,͏͏ which͏͏ primarily͏͏ sells͏͏ products͏͏ to͏͏ salons.͏͏ Last͏͏ year,͏͏ Shoppers͏͏ Stop͏͏ collaborated͏͏ with͏͏ the͏͏ Japanese͏͏ firm͏͏ Shiseido͏͏ to͏͏ introduce͏͏ its͏͏ premium͏͏ beauty͏͏ brand,͏͏ Nars͏͏ Cosmetics,͏͏ to͏͏ India.

Market͏͏ Dynamics͏͏ Favor͏͏ Focused͏͏ Beauty͏͏ Brands:

Currently,͏͏ focused͏͏ beauty͏͏ brands͏͏ like͏͏ L’Oreal,͏͏ Mama͏͏ Earth,͏͏ Nivea,͏͏ and͏͏ Nykaa͏͏ hold͏͏ a͏͏ 33%͏͏ share͏͏ of͏͏ the͏͏ market͏͏ and͏͏ are͏͏ expected͏͏ to͏͏ grow͏͏ to͏͏ 42%͏͏ in͏͏ the͏͏ next͏͏ five͏͏ years.͏͏ In͏͏ contrast,͏͏ established͏͏ companies͏͏ such͏͏ as͏͏ HUL͏͏ and͏͏ Procter͏͏ &͏͏ Gamble,͏͏ which͏͏ currently͏͏ account͏͏ for͏͏ two-thirds͏͏ of͏͏ the͏͏ market,͏͏ are͏͏ projected͏͏ to͏͏ see͏͏ their͏͏ shares͏͏ decline͏͏ by͏͏ 900͏͏ basis͏͏ points͏͏ to͏͏ 58%͏͏ by͏͏ 2027,͏͏ according͏͏ to͏͏ a͏͏ joint͏͏ report͏͏ by͏͏ Redseer͏͏ Strategy͏͏ Consultants͏͏ and͏͏ Peak͏͏ XV.

“On͏͏ the͏͏ surface,͏͏ Zudio’s͏͏ existing͏͏ store͏͏ count͏͏ of͏͏ over͏͏ 550͏͏ may͏͏ suggest͏͏ that͏͏ the͏͏ rate͏͏ of͏͏ new͏͏ openings͏͏ could͏͏ slow,͏͏ making͏͏ it͏͏ difficult͏͏ to͏͏ achieve͏͏ the͏͏ target͏͏ of͏͏ 2,000͏͏ stores.͏͏ However,͏͏ our͏͏ analysis͏͏ reveals͏͏ that͏͏ there͏͏ is͏͏ substantial͏͏ room͏͏ for͏͏ Zudio’s͏͏ expansion,”͏͏ according͏͏ to͏͏ a͏͏ report͏͏ by͏͏ Citi͏͏ Research.

Continue͏͏ Exploring:͏͏ Tata Group’s͏͏ Zudio goes͏͏ global͏͏ with͏͏ first͏͏ international͏͏ store͏͏ opening͏͏ in͏͏ Dubai

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Amul set to enter European market following success in the US: MD Jayen Mehta

By
M Haziq Pandit
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Jayen Mehta Amul

Amul‘s recently launched milk in the US has been “highly successful,” according to Jayen Mehta, Managing Director of AMUL and the Gujarat Co-operative Milk Marketing Federation Ltd (GCMMF). He also revealed plans to enter the European market, marking a historic milestone for the brand.

Continue͏͏ Exploring:͏͏ After͏͏ US͏͏ debut,͏͏ Amul to͏͏ launch͏͏ fresh͏͏ milk͏͏ in͏͏ Canada

India͏͏ to͏͏ Lead͏͏ Global͏͏ Milk͏͏ Output:

Speaking͏͏ at͏͏ the͏͏ 11th͏͏ Dr͏͏ Verghese͏͏ Kurien͏͏ Memorial͏͏ Oration͏͏ on͏͏ “AMUL͏͏ Model:͏͏ Transforming͏͏ Lives͏͏ of͏͏ Millions,”͏͏ organised͏͏ by͏͏ a͏͏ private͏͏ business͏͏ management͏͏ institute͏͏ on͏͏ Saturday,͏͏ Mehta͏͏ highlighted͏͏ that͏͏ “India͏͏ is͏͏ now͏͏ the͏͏ largest͏͏ milk͏͏ producer͏͏ in͏͏ the͏͏ world͏͏ and͏͏ is͏͏ set͏͏ to͏͏ produce͏͏ one-third͏͏ of͏͏ the͏͏ world’s͏͏ total͏͏ milk͏͏ in͏͏ the͏͏ coming͏͏ years,”͏͏ according͏͏ to͏͏ a͏͏ statement͏͏ from͏͏ XLRI.

“Dairy͏͏ is͏͏ more͏͏ than͏͏ just͏͏ a͏͏ business;͏͏ it’s͏͏ a͏͏ lifeline͏͏ for͏͏ rural͏͏ India,”͏͏ he͏͏ stated.

Discussing͏͏ Amul’s͏͏ recent͏͏ milk͏͏ launch͏͏ in͏͏ the͏͏ US,͏͏ Mehta͏͏ stated͏͏ it͏͏ has͏͏ been͏͏ “highly͏͏ successful,”͏͏ and͏͏ the͏͏ company͏͏ is͏͏ now͏͏ prepared͏͏ to͏͏ enter͏͏ the͏͏ European͏͏ market͏͏ for͏͏ the͏͏ first͏͏ time.

Focus͏͏ on͏͏ Organic͏͏ and͏͏ Protein-Rich͏͏ Products:

To͏͏ remain͏͏ relevant,͏͏ Amul͏͏ prioritises͏͏ offering͏͏ protein-rich,͏͏ organic,͏͏ and͏͏ chemical-free͏͏ products͏͏ that͏͏ customers͏͏ trust,͏͏ while͏͏ continually͏͏ expanding͏͏ its͏͏ capacity͏͏ and͏͏ infrastructure,͏͏ he͏͏ noted,͏͏ commending͏͏ the͏͏ ecosystem͏͏ established͏͏ by͏͏ Dr.͏͏ Kurien,͏͏ the͏͏ founder͏͏ of͏͏ AMUL.

Continue͏͏ Exploring:͏͏ Amul launches͏͏ ‘Organic͏͏ Shoppe’͏͏ in͏͏ Delhi,͏͏ targets͏͏ nationwide͏͏ expansion͏͏ with͏͏ 100͏͏ stores

Mehta͏͏ stated,͏͏ “If͏͏ India͏͏ could͏͏ present͏͏ a͏͏ gift͏͏ to͏͏ the͏͏ world,͏͏ it͏͏ would͏͏ be͏͏ the͏͏ cooperative͏͏ working͏͏ system—a͏͏ gift͏͏ from͏͏ Dr.͏͏ Kurien.͏͏ His͏͏ belief͏͏ in͏͏ cooperation͏͏ has͏͏ ignited͏͏ a͏͏ new͏͏ revolution͏͏ in͏͏ India.”

Amul͏͏ collects͏͏ over͏͏ 310͏͏ lakh͏͏ litres͏͏ of͏͏ milk͏͏ each͏͏ day,͏͏ operating͏͏ 107͏͏ dairy͏͏ plants͏͏ across͏͏ India͏͏ and͏͏ offering͏͏ more͏͏ than͏͏ 50͏͏ products,͏͏ Mehta͏͏ mentioned,͏͏ adding͏͏ that͏͏ the͏͏ company͏͏ sells͏͏ 22͏͏ billion͏͏ packs͏͏ annually.

Amul͏͏ has͏͏ a͏͏ turnover͏͏ of͏͏ INR͏͏ 80,000͏͏ crore͏͏ and͏͏ is͏͏ now͏͏ ranked͏͏ as͏͏ the͏͏ world’s͏͏ strongest͏͏ dairy͏͏ and͏͏ food͏͏ brand,͏͏ owned͏͏ by͏͏ 36͏͏ lakh͏͏ farmers,͏͏ he͏͏ claimed.

Continue͏͏ Exploring:͏͏ Amul named͏͏ strongest͏͏ global͏͏ food͏͏ and͏͏ dairy͏͏ brand͏͏ in͏͏ Brand͏͏ Finance͏͏ Food͏͏ &͏͏ Drink͏͏ 2024͏͏ Report

Addressing͏͏ the͏͏ gathering,͏͏ Nirmala͏͏ Kurien,͏͏ daughter͏͏ of͏͏ Dr.͏͏ Verghese͏͏ Kurien,͏͏ remarked͏͏ that͏͏ over͏͏ half͏͏ a͏͏ century͏͏ ago,͏͏ her͏͏ father͏͏ envisioned͏͏ a͏͏ future͏͏ where͏͏ a͏͏ milk-deficient͏͏ country͏͏ could͏͏ achieve͏͏ self-sufficiency.͏͏ Today,͏͏ India͏͏ is͏͏ the͏͏ world’s͏͏ largest͏͏ producer͏͏ of͏͏ milk,͏͏ she͏͏ added.

Fr.͏͏ S.͏͏ George,͏͏ Director͏͏ of͏͏ XLRI͏͏ Jamshedpur,͏͏ stated͏͏ that͏͏ Dr.͏͏ Verghese͏͏ Kurien’s͏͏ life͏͏ was͏͏ marked͏͏ by͏͏ a͏͏ dedication͏͏ to͏͏ making͏͏ a͏͏ difference.

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Zomato’s Deepinder Goyal excluded from Shark Tank India as rival Swiggy takes sponsorship

By
M Haziq Pandit
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0
Deepinder Goyal Sharktank Swiggy

Deepinder Goyal, cofounder and CEO of Zomato, will not be participating in the next season of Shark Tank India, as Swiggy, a competing foodtech company, has pushed for his removal under its sponsorship terms for the show.

“I͏͏ can’t͏͏ return͏͏ because͏͏ Swiggy͏͏ sponsored͏͏ Shark͏͏ Tank͏͏ this͏͏ time͏͏ and͏͏ had͏͏ me͏͏ removed,”͏͏ Goyal͏͏ told͏͏ the͏͏ Economic͏͏ Times.

Sponsorship͏͏ Clause͏͏ Bars͏͏ Goyal:

According͏͏ to͏͏ a͏͏ separate͏͏ report͏͏ by͏͏ Moneycontrol,͏͏ IPO-bound͏͏ Swiggy͏͏ has͏͏ included͏͏ a͏͏ clause͏͏ in͏͏ its͏͏ sponsorship͏͏ agreement͏͏ stating͏͏ that͏͏ Goyal͏͏ must͏͏ not͏͏ participate͏͏ as͏͏ a͏͏ judge͏͏ on͏͏ the͏͏ TV͏͏ show.͏͏ The͏͏ Bengaluru-based͏͏ foodtech͏͏ giant͏͏ is͏͏ reportedly͏͏ nearing͏͏ a͏͏ deal͏͏ to͏͏ sponsor͏͏ the͏͏ fourth͏͏ season͏͏ of͏͏ Shark͏͏ Tank͏͏ India͏͏ for͏͏ INR͏͏ 25͏͏ crore.

In͏͏ response͏͏ to͏͏ a͏͏ question͏͏ about͏͏ Swiggy’s͏͏ IPO,͏͏ Goyal͏͏ stated,͏͏ “I͏͏ genuinely͏͏ don’t͏͏ know,͏͏ and͏͏ it’s͏͏ not͏͏ something͏͏ we͏͏ focus͏͏ on.͏͏ We’ll͏͏ see͏͏ what͏͏ happens.”

Continue͏͏ Exploring:͏͏ Swiggy likely͏͏ to͏͏ have͏͏ lower͏͏ public͏͏ market͏͏ valuation͏͏ than͏͏ Zomato:͏͏ Elara͏͏ Capital

Swiggy’s͏͏ IPO͏͏ Update:

On͏͏ September͏͏ 26,͏͏ Swiggy͏͏ submitted͏͏ its͏͏ updated͏͏ draft͏͏ red͏͏ herring͏͏ prospectus͏͏ (DRHP)͏͏ to͏͏ the͏͏ Securities͏͏ and͏͏ Exchange͏͏ Board͏͏ of͏͏ India͏͏ (SEBI)͏͏ for͏͏ its͏͏ IPO.͏͏ The͏͏ draft͏͏ indicates͏͏ that͏͏ the͏͏ public͏͏ issue͏͏ will͏͏ include͏͏ a͏͏ fresh͏͏ share͏͏ issuance͏͏ worth͏͏ INR͏͏ 3,750͏͏ crore͏͏ and͏͏ an͏͏ offer͏͏ for͏͏ sale͏͏ (OFS)͏͏ of͏͏ 18.57͏͏ crore͏͏ shares.͏͏ However,͏͏ earlier͏͏ this͏͏ week,͏͏ the͏͏ foodtech͏͏ giant͏͏ secured͏͏ shareholder͏͏ approval͏͏ to͏͏ increase͏͏ the͏͏ size͏͏ of͏͏ the͏͏ fresh͏͏ issue͏͏ in͏͏ its͏͏ IPO͏͏ to͏͏ INR͏͏ 5,000͏͏ crore.

Continue͏͏ Exploring:͏͏ IPO-bound͏͏ Swiggy receives͏͏ shareholders’͏͏ approval͏͏ to͏͏ increase͏͏ fresh͏͏ issue͏͏ size͏͏ to͏͏ INR͏͏ 5,000͏͏ Cr

Swiggy͏͏ plans͏͏ to͏͏ allocate͏͏ INR͏͏ 950͏͏ crore͏͏ from͏͏ the͏͏ IPO͏͏ proceeds͏͏ for͏͏ marketing͏͏ and͏͏ brand͏͏ awareness͏͏ initiatives͏͏ to͏͏ drive͏͏ growth͏͏ and͏͏ attract͏͏ more͏͏ customers.

New͏͏ Offerings͏͏ Rollout͏͏ as͏͏ IPO͏͏ Approaches:

This͏͏ development͏͏ comes͏͏ as͏͏ Swiggy͏͏ rolls͏͏ out͏͏ a͏͏ series͏͏ of͏͏ new͏͏ offerings͏͏ ahead͏͏ of͏͏ its͏͏ IPO.͏͏ On͏͏ Saturday,͏͏ the͏͏ company͏͏ launched͏͏ a͏͏ bulk͏͏ order͏͏ service͏͏ called͏͏ ‘Swiggy͏͏ XL͏͏ EV’͏͏ fleet͏͏ in͏͏ Gurugram,͏͏ nearly͏͏ a͏͏ month͏͏ after͏͏ it͏͏ was͏͏ reported͏͏ that͏͏ it͏͏ was͏͏ piloting͏͏ a͏͏ large͏͏ order͏͏ fleet.

Continue͏͏ Exploring:͏͏ IPO-bound͏͏ Swiggy launches͏͏ EV͏͏ fleet͏͏ for͏͏ bulk͏͏ orders͏͏ in͏͏ Gurgaon

Before͏͏ that,͏͏ the͏͏ company͏͏ launched͏͏ ‘Bolt’͏͏ to͏͏ deliver͏͏ quick-to-prepare͏͏ dishes͏͏ in͏͏ just͏͏ 10͏͏ minutes͏͏ across͏͏ six͏͏ cities:͏͏ Bengaluru,͏͏ Hyderabad,͏͏ Mumbai,͏͏ Chennai,͏͏ Delhi,͏͏ and͏͏ Pune.͏͏ The͏͏ IPO-bound͏͏ giant͏͏ is͏͏ also͏͏ reportedly͏͏ experimenting͏͏ with͏͏ a͏͏ premium͏͏ concierge͏͏ membership͏͏ that͏͏ provides͏͏ subscribers͏͏ access͏͏ to͏͏ exclusive͏͏ experiences͏͏ and͏͏ events.

Financial͏͏ Snapshot:

Swiggy’s͏͏ consolidated͏͏ net͏͏ loss͏͏ increased͏͏ by͏͏ over͏͏ 8%,͏͏ reaching͏͏ INR͏͏ 611͏͏ crore͏͏ in͏͏ the͏͏ first͏͏ quarter͏͏ (Q1)͏͏ of͏͏ the͏͏ fiscal͏͏ year͏͏ 2024-25͏͏ (FY25),͏͏ compared͏͏ to͏͏ INR͏͏ 564.08͏͏ crore͏͏ in͏͏ the͏͏ same͏͏ period͏͏ last͏͏ year.͏͏ Revenue͏͏ from͏͏ operations͏͏ surged͏͏ by͏͏ 35%͏͏ to͏͏ INR͏͏ 3,222.2͏͏ crore͏͏ during͏͏ the͏͏ quarter,͏͏ up͏͏ from͏͏ INR͏͏ 2,389.8͏͏ crore͏͏ in͏͏ Q1͏͏ FY24.

Continue͏͏ Exploring:͏͏ Swigy’s͏͏ Q1͏͏ loss͏͏ widens͏͏ 8%͏͏ YoY͏͏ to͏͏ INR͏͏ 611͏͏ Cr,͏͏ operating͏͏ revenue͏͏ jumps͏͏ 35%

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Rail Restro serves over 1 Crore passengers, launches free meal offer for first-time users

By
M Haziq Pandit
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0
Rail Restro

Rail Restro, the official food delivery partner of IRCTC, has reached a remarkable milestone by serving over one crore railway passengers throughout India. To͏͏ celebrate͏͏ this͏͏ accomplishment,͏͏ the͏͏ company͏͏ is͏͏ introducing͏͏ a͏͏ special͏͏ offer,͏͏ enabling͏͏ first-time͏͏ users͏͏ of͏͏ Rail͏͏ Restro’s͏͏ services͏͏ to͏͏ order͏͏ free͏͏ meals͏͏ during͏͏ their͏͏ train͏͏ journeys.

Free͏͏ Meals͏͏ for͏͏ First-Time͏͏ Users:

The͏͏ special͏͏ offer,͏͏ available͏͏ at͏͏ over͏͏ 500͏͏ railway͏͏ stations,͏͏ allows͏͏ passengers͏͏ to͏͏ enjoy͏͏ a͏͏ diverse͏͏ selection͏͏ of͏͏ cuisines—Indian,͏͏ Chinese,͏͏ Italian,͏͏ South͏͏ Indian,͏͏ Jain,͏͏ and͏͏ more—delivered͏͏ right͏͏ to͏͏ their͏͏ seats͏͏ at͏͏ no͏͏ cost,͏͏ according͏͏ to͏͏ a͏͏ release͏͏ from͏͏ the͏͏ company.

Continue͏͏ Exploring:͏͏ IRCTC͏͏ expands͏͏ its͏͏ footprint,͏͏ ventures͏͏ into͏͏ non-railway͏͏ catering͏͏ business

Rail Restro Available͏͏ at͏͏ 500+͏͏ Stations:

Rail͏͏ Restro͏͏ has͏͏ become͏͏ the͏͏ go-to͏͏ option͏͏ for͏͏ railway͏͏ passengers͏͏ by͏͏ providing͏͏ high-quality,͏͏ hygienic͏͏ meals͏͏ sourced͏͏ from͏͏ over͏͏ 5,000͏͏ top͏͏ restaurants͏͏ across͏͏ India.͏͏ Each͏͏ restaurant͏͏ affiliated͏͏ with͏͏ Rail͏͏ Restro͏͏ is͏͏ FSSAI͏͏ certified,͏͏ ensuring͏͏ the͏͏ highest͏͏ standards͏͏ of͏͏ safety͏͏ and͏͏ cleanliness.͏͏ Passengers͏͏ can͏͏ conveniently͏͏ order͏͏ food͏͏ with͏͏ just͏͏ a͏͏ few͏͏ clicks,͏͏ whether͏͏ they͏͏ are͏͏ on͏͏ short͏͏ journeys͏͏ or͏͏ long-haul͏͏ trips,͏͏ and͏͏ have͏͏ it͏͏ delivered͏͏ straight͏͏ to͏͏ their͏͏ train͏͏ seat.

Manish͏͏ Chandra,͏͏ founder͏͏ of͏͏ Rail͏͏ Restro,͏͏ stated,͏͏ “We͏͏ are͏͏ excited͏͏ to͏͏ have͏͏ served͏͏ over͏͏ 1͏͏ crore͏͏ passengers,͏͏ highlighting͏͏ the͏͏ trust͏͏ that͏͏ railway͏͏ travelers͏͏ have͏͏ in͏͏ our͏͏ services.͏͏ This͏͏ special͏͏ offer͏͏ is͏͏ our͏͏ way͏͏ of͏͏ giving͏͏ back͏͏ to͏͏ our͏͏ customers͏͏ and͏͏ inviting͏͏ new͏͏ users͏͏ to͏͏ discover͏͏ the͏͏ convenience͏͏ and͏͏ quality͏͏ of͏͏ ordering͏͏ food͏͏ through͏͏ Rail͏͏ Restro.͏͏ Our͏͏ aim͏͏ has͏͏ always͏͏ been͏͏ to͏͏ enhance͏͏ the͏͏ train͏͏ travel͏͏ experience,͏͏ making͏͏ it͏͏ more͏͏ enjoyable͏͏ and͏͏ convenient.”

One͏͏ of͏͏ the͏͏ major͏͏ advantages͏͏ of͏͏ ordering͏͏ food͏͏ from͏͏ Rail͏͏ Restro͏͏ is͏͏ that͏͏ there͏͏ are͏͏ no͏͏ delivery͏͏ charges,͏͏ setting͏͏ it͏͏ apart͏͏ from͏͏ many͏͏ other͏͏ food͏͏ delivery͏͏ services.͏͏ Passengers͏͏ can͏͏ also͏͏ opt͏͏ for͏͏ cash-on-delivery,͏͏ adding͏͏ an͏͏ extra͏͏ layer͏͏ of͏͏ convenience͏͏ to͏͏ their͏͏ meal͏͏ ordering͏͏ experience.͏͏ The͏͏ Rail͏͏ Restro͏͏ app͏͏ is͏͏ designed͏͏ to͏͏ ensure͏͏ a͏͏ seamless͏͏ user͏͏ experience,͏͏ guaranteeing͏͏ that͏͏ passengers͏͏ encounter͏͏ no͏͏ issues͏͏ from͏͏ the͏͏ moment͏͏ they͏͏ place͏͏ their͏͏ order͏͏ until͏͏ their͏͏ food͏͏ is͏͏ delivered,͏͏ as͏͏ stated͏͏ in͏͏ the͏͏ release.

“We͏͏ strive͏͏ to͏͏ make͏͏ top-quality͏͏ meals͏͏ from͏͏ India’s͏͏ finest͏͏ restaurants͏͏ available͏͏ to͏͏ every͏͏ train͏͏ traveler.͏͏ This͏͏ offer͏͏ presents͏͏ a͏͏ great͏͏ opportunity͏͏ for͏͏ passengers͏͏ to͏͏ experience͏͏ the͏͏ convenience͏͏ and͏͏ delight͏͏ of͏͏ having͏͏ their͏͏ favourite͏͏ meals͏͏ delivered͏͏ straight͏͏ to͏͏ their͏͏ seat͏͏ at͏͏ no͏͏ additional͏͏ cost,”͏͏ Chandra͏͏ stated.

Continue͏͏ Exploring:͏͏ Swiggy͏͏ &͏͏ IRCTC͏͏ join͏͏ forces͏͏ to͏͏ offer͏͏ food͏͏ delivery͏͏ service͏͏ on͏͏ trains

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Underdoggs plans major expansion with 10 new outlets in 2024, eyes entry into global markets

By
M Haziq Pandit
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0
Underdoggs

Underdoggs, a prominent sports bar and entertainment chain in India, is planning significant expansion with the addition of 10 new locations in 2024. This͏͏ growth͏͏ will͏͏ result͏͏ in͏͏ a͏͏ 200%͏͏ increase͏͏ in͏͏ its͏͏ total͏͏ number͏͏ of͏͏ outlets,͏͏ bringing͏͏ the͏͏ overall͏͏ count͏͏ to͏͏ 30͏͏ by͏͏ the͏͏ end͏͏ of͏͏ 2025.͏͏ The͏͏ brand͏͏ is͏͏ also͏͏ set͏͏ to͏͏ enter͏͏ international͏͏ markets,͏͏ aiming͏͏ to͏͏ establish͏͏ venues͏͏ in͏͏ Dubai͏͏ and͏͏ London,͏͏ where͏͏ it͏͏ will͏͏ introduce͏͏ its͏͏ unique͏͏ mix͏͏ of͏͏ sports,͏͏ dining,͏͏ and͏͏ entertainment͏͏ to͏͏ a͏͏ broader͏͏ audience.

Current͏͏ Presence͏͏ and͏͏ Future͏͏ Growth͏͏ of͏͏ Underdoggs:

As͏͏ of͏͏ September͏͏ 2024,͏͏ Underdoggs͏͏ operates͏͏ four͏͏ successful͏͏ outlets͏͏ in͏͏ New͏͏ Delhi,͏͏ Ludhiana,͏͏ Goa,͏͏ and͏͏ Bengaluru.͏͏ To͏͏ further͏͏ expand͏͏ its͏͏ footprint͏͏ in͏͏ India,͏͏ the͏͏ brand͏͏ is͏͏ set͏͏ to͏͏ open͏͏ eight͏͏ new͏͏ locations͏͏ in͏͏ Indore,͏͏ Noida,͏͏ Sri͏͏ Ganganagar,͏͏ Dehradun,͏͏ Hyderabad,͏͏ Raipur,͏͏ Gurgaon,͏͏ and͏͏ a͏͏ second͏͏ outlet͏͏ in͏͏ Bengaluru.

Continue͏͏ Exploring:͏͏ Costa͏͏ Coffee͏͏ targets͏͏ rapid͏͏ expansion͏͏ in͏͏ India,͏͏ aiming͏͏ for͏͏ 40-50͏͏ new͏͏ stores͏͏ annually

Ambitious͏͏ Goals͏͏ for͏͏ 2025:

This͏͏ expansion͏͏ signifies͏͏ a͏͏ 50%͏͏ increase͏͏ in͏͏ the͏͏ number͏͏ of͏͏ outlets͏͏ in͏͏ 2024͏͏ alone,͏͏ underscoring͏͏ Underdoggs’͏͏ ambition͏͏ to͏͏ become͏͏ India’s͏͏ leading͏͏ sports͏͏ and͏͏ entertainment͏͏ brand.͏͏ By͏͏ 2025,͏͏ the͏͏ company͏͏ aims͏͏ to͏͏ triple͏͏ its͏͏ presence͏͏ across͏͏ the͏͏ country.

Sarthak͏͏ Sidana,͏͏ Director͏͏ of͏͏ Underdoggs,͏͏ remarked,͏͏ “While͏͏ we͏͏ pursue͏͏ our͏͏ rapid͏͏ expansion͏͏ in͏͏ India,͏͏ we͏͏ are͏͏ equally͏͏ enthusiastic͏͏ about͏͏ bringing͏͏ the͏͏ Underdoggs͏͏ experience͏͏ to͏͏ international͏͏ markets.͏͏ Having͏͏ offered͏͏ a͏͏ variety͏͏ of͏͏ flavors͏͏ and͏͏ experiences͏͏ to͏͏ our͏͏ Indian͏͏ customers,͏͏ we͏͏ are͏͏ confident͏͏ that͏͏ our͏͏ new͏͏ locations͏͏ will͏͏ resonate͏͏ with͏͏ our͏͏ concept.͏͏ Our͏͏ priority͏͏ will͏͏ always͏͏ be͏͏ to͏͏ create͏͏ unforgettable͏͏ experiences͏͏ for͏͏ every͏͏ guest,͏͏ no͏͏ matter͏͏ where͏͏ they͏͏ are.”

Sidana͏͏ also͏͏ highlighted͏͏ the͏͏ brand’s͏͏ dedication͏͏ to͏͏ maintaining͏͏ quality͏͏ as͏͏ it͏͏ expands͏͏ internationally.͏͏ “This͏͏ global͏͏ initiative͏͏ is͏͏ not͏͏ solely͏͏ focused͏͏ on͏͏ growth;͏͏ it’s͏͏ about͏͏ delivering͏͏ world-class͏͏ service,͏͏ quality,͏͏ and͏͏ entertainment͏͏ that͏͏ align͏͏ with͏͏ the͏͏ expectations͏͏ of͏͏ our͏͏ international͏͏ clientele.”

In͏͏ addition͏͏ to͏͏ its͏͏ growth͏͏ within͏͏ India,͏͏ Underdoggs’͏͏ international͏͏ ambitions͏͏ play͏͏ a͏͏ vital͏͏ role͏͏ in͏͏ its͏͏ overall͏͏ strategy͏͏ to͏͏ bring͏͏ its͏͏ unique͏͏ fusion͏͏ of͏͏ sports,͏͏ entertainment,͏͏ and͏͏ dining͏͏ to͏͏ a͏͏ global͏͏ market.͏͏ The͏͏ brand͏͏ is͏͏ celebrated͏͏ for͏͏ cultivating͏͏ a͏͏ community͏͏ vibe͏͏ through͏͏ activities͏͏ like͏͏ quiz͏͏ nights,͏͏ live͏͏ music,͏͏ and͏͏ bar͏͏ games,͏͏ redefining͏͏ the͏͏ sports͏͏ bar͏͏ experience͏͏ in͏͏ India.

The͏͏ expansion͏͏ is͏͏ expected͏͏ to͏͏ create͏͏ more͏͏ than͏͏ 2,700͏͏ new͏͏ jobs,͏͏ providing͏͏ a͏͏ positive͏͏ boost͏͏ to͏͏ local͏͏ economies.

Continue͏͏ Exploring:͏͏ Nothing͏͏ Before͏͏ Coffee͏͏ opens͏͏ 75th͏͏ outlet͏͏ in͏͏ Connaught͏͏ Place,͏͏ plans͏͏ to͏͏ expand͏͏ to͏͏ 400͏͏ locations͏͏ by͏͏ 2027

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70% of retailers face challenges retaining customers post-festive season: Report

By
M Haziq Pandit
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0
retailers

Nearly 70% of retailers struggle to retain customers after the festive season, facing challenges such as customer drop-off and growing competition, according to a report by customer data platform WebEngage.

Key͏͏ Challenges:

Retaining͏͏ customers͏͏ is͏͏ challenging͏͏ due͏͏ to͏͏ distracted͏͏ users,͏͏ intense͏͏ competition,͏͏ high͏͏ post-festive͏͏ engagement͏͏ costs,͏͏ and͏͏ insufficient͏͏ customer͏͏ feedback.

The͏͏ report,͏͏ titled͏͏ ‘The͏͏ State͏͏ of͏͏ Festive͏͏ Marketing͏͏ Report͏͏ 2024,’͏͏ is͏͏ based͏͏ on͏͏ consultations͏͏ with͏͏ over͏͏ 250͏͏ industry͏͏ insiders͏͏ and͏͏ shoppers.͏͏ It͏͏ underscores͏͏ how͏͏ brands͏͏ are͏͏ utilising͏͏ trends͏͏ and͏͏ data-driven͏͏ strategies͏͏ to͏͏ improve͏͏ their͏͏ seasonal͏͏ marketing͏͏ initiatives.

What͏͏ Drives͏͏ Festive Campaign͏͏ Success?

The͏͏ report͏͏ identifies͏͏ prices,͏͏ new͏͏ launches,͏͏ and͏͏ user͏͏ experience͏͏ as͏͏ the͏͏ main͏͏ factors͏͏ that͏͏ make͏͏ festive͏͏ campaigns͏͏ attractive͏͏ to͏͏ consumers.͏͏ Notably,͏͏ 77.6%͏͏ of͏͏ those͏͏ engaging͏͏ with͏͏ these͏͏ campaigns͏͏ are͏͏ millennials͏͏ aged͏͏ 25͏͏ to͏͏ 34.

Approximately͏͏ 98%͏͏ of͏͏ brands͏͏ connect͏͏ with͏͏ users͏͏ through͏͏ online͏͏ channels,͏͏ while͏͏ nearly͏͏ 45%͏͏ utilize͏͏ omnichannel͏͏ marketing͏͏ to͏͏ reach͏͏ both͏͏ offline͏͏ and͏͏ online͏͏ audiences.

Continue͏͏ Exploring:͏͏ Online͏͏ retailers on͏͏ track͏͏ for͏͏ 20-25%͏͏ growth͏͏ this͏͏ festive season

“The͏͏ festive͏͏ season͏͏ presents͏͏ brands͏͏ with͏͏ a͏͏ valuable͏͏ opportunity͏͏ to͏͏ attract͏͏ new͏͏ customers͏͏ while͏͏ re-engaging͏͏ many͏͏ inactive͏͏ users.͏͏ However,͏͏ it’s͏͏ crucial͏͏ to͏͏ maximise͏͏ the͏͏ lifetime͏͏ value͏͏ of͏͏ both͏͏ acquired͏͏ and͏͏ reactivated͏͏ customers,”͏͏ stated͏͏ Ankur͏͏ Gattani,͏͏ Chief͏͏ Growth͏͏ Officer͏͏ at͏͏ WebEngage.

The͏͏ report͏͏ reveals͏͏ that͏͏ while͏͏ brands͏͏ typically͏͏ plan͏͏ their͏͏ campaigns͏͏ three͏͏ to͏͏ six͏͏ months͏͏ ahead,͏͏ 54%͏͏ of͏͏ them͏͏ begin͏͏ their͏͏ pre-festive͏͏ campaigns͏͏ only͏͏ within͏͏ 30͏͏ days͏͏ of͏͏ the͏͏ launch.

Brands͏͏ across͏͏ various͏͏ sectors͏͏ start͏͏ their͏͏ preparations͏͏ early,͏͏ particularly͏͏ e-commerce͏͏ and͏͏ direct-to-consumer͏͏ (D2C)͏͏ brands,͏͏ which͏͏ make͏͏ up͏͏ 41.2%͏͏ of͏͏ those͏͏ involved͏͏ in͏͏ festive͏͏ marketing.

Short͏͏ Campaigns͏͏ Drive͏͏ Success:

Campaigns͏͏ that͏͏ run͏͏ for͏͏ less͏͏ than͏͏ seven͏͏ days͏͏ are͏͏ frequently͏͏ more͏͏ successful͏͏ for͏͏ multi-product͏͏ platforms.͏͏ This͏͏ brief͏͏ timeframe͏͏ fosters͏͏ urgency,͏͏ encouraging͏͏ consumers͏͏ to͏͏ make͏͏ faster͏͏ purchasing͏͏ decisions,͏͏ according͏͏ to͏͏ the͏͏ report.

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

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IPO-bound Swiggy launches EV fleet for bulk orders in Gurgaon

By
Ashutosh Dubey
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0
IPO-bound Swiggy, Swiggy Bolt, Swiggy EV Fleet, Swiggy IPO, Swiggy Delivery
IPO-bound Swiggy Launches EV Fleet for bulk orders in Gurgaon

As part of its aggressive push ahead of its public listing, the firm Swiggy has launched a bulk ordering service called Swiggy XL EV for large groups in Gurgaon. This comes out after recently unveiling Swiggy ‘Bolt’, a service promising the super-fast delivery of quick-to-prepare dishes in just 10 minutes.

Swiggy fleet deliver at Haryana Election Day on launch

The company had been testing the new program for a couple of weeks, launching it on the election day of Haryana. In order to promote the launch, the Swiggy XL EV fleet has delivered 3,500 free meals to the election officials at over 580 polling booths in Gurgaon and Badshahpur. Service came free of cost to the district administration.

Continue͏͏ Exploring:͏͏ IPO-bound Swiggy pilots concierge service targeting premium customer base

Sidharth Bhakoo, national business head of Swiggy Food Marketplace said, “The festival season is perhaps the best time to launch this service, when there is gaiety and joy all around, and everyone celebrates with their loved ones. Swiggy XL will ensure that there is no interruption in parties and gatherings and no delay in large orders.” Bhakoo further added, “The service has an important environmental angle as well since the entire fleet is electric and it saves multiplicity of order trips.” Swiggy’s bulk ordering service, Swiggy XL EV, is set to reach to new cities soon, Bhakoo announced.

Swiggy ‘Bolt’ – A 10 minutes delivery initiative

Following its recent launch of Swiggy ‘Bolt’, which delivers fast-cooking meals in 10 minutes, this service is now available in six cities: Bengaluru, Hyderabad, Mumbai, Chennai, Delhi, and Pune.

Continue͏͏ Exploring:͏͏ IPO-bound Swiggy launches 10-minute food delivery service ‘Bolt’

Additionally, the company is testing an expensive concierge membership. According to  reports, subscribers can buy access to exclusive high-end experiences and events that aren’t open to the public through membership. As the company is preparing to go public, this week, shareholders of Swiggy approved increasing the fresh issue in its IPO to INR 5,000 Cr, up from initial INR 3,750 Cr.

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