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Swiggy Instamart launches 24×7 delivery service in Delhi-NCR ahead of festive season

By
M Haziq Pandit
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Swiggy Instamart

With the festive season approaching, quick commerce giant Swiggy Instamart has launched a 24×7 delivery service in the Delhi-NCR region.

In͏͏ a͏͏ statement,͏͏ the͏͏ company͏͏ announced͏͏ that͏͏ the͏͏ service͏͏ will͏͏ be͏͏ accessible͏͏ in͏͏ the͏͏ national͏͏ capital,͏͏ as͏͏ well͏͏ as͏͏ in͏͏ the͏͏ nearby͏͏ satellite͏͏ towns͏͏ of͏͏ Gurugram͏͏ and͏͏ Noida.

Late-Night͏͏ Demand͏͏ Drives͏͏ New͏͏ Offering:

Explaining͏͏ the͏͏ reasoning͏͏ behind͏͏ the͏͏ new͏͏ offering,͏͏ the͏͏ IPO-bound͏͏ foodtech͏͏ giant͏͏ stated͏͏ that͏͏ its͏͏ internal͏͏ “order͏͏ analysis”͏͏ indicated͏͏ that͏͏ late-night͏͏ orders͏͏ for͏͏ items͏͏ like͏͏ chips,͏͏ bhujia,͏͏ ice͏͏ creams,͏͏ sexual͏͏ wellness͏͏ products,͏͏ and͏͏ “pan͏͏ corner͏͏ essentials”͏͏ peak͏͏ between͏͏ 11͏͏ PM͏͏ and͏͏ 6͏͏ AM͏͏ during͏͏ the͏͏ festive͏͏ season.͏͏ Additionally,͏͏ mornings͏͏ witness͏͏ a͏͏ significant͏͏ number͏͏ of͏͏ orders͏͏ for͏͏ staples͏͏ like͏͏ milk͏͏ and͏͏ eggs.

Continue͏͏ Exploring:͏͏ Swiggy Instamart expands͏͏ to͏͏ 42͏͏ cities,͏͏ eyes͏͏ growth͏͏ in͏͏ tier͏͏ 2͏͏ and͏͏ 3͏͏ markets

Competitive͏͏ Landscape:

The͏͏ new͏͏ offering͏͏ follows͏͏ closely͏͏ on͏͏ the͏͏ heels͏͏ of͏͏ Flipkart͏͏ launching͏͏ its͏͏ quick͏͏ commerce͏͏ service,͏͏ Minutes,͏͏ in͏͏ the͏͏ national͏͏ capital͏͏ region.͏͏ To͏͏ attract͏͏ users,͏͏ the͏͏ e-commerce͏͏ giant͏͏ announced͏͏ free͏͏ delivery͏͏ on͏͏ all͏͏ orders͏͏ over͏͏ INR͏͏ 99,͏͏ along͏͏ with͏͏ an͏͏ INR͏͏ 5͏͏ platform͏͏ fee.

In͏͏ addition͏͏ to͏͏ effectively͏͏ competing͏͏ with͏͏ Flipkart͏͏ Minutes͏͏ and͏͏ established͏͏ players͏͏ like͏͏ Zomato-owned͏͏ Blinkit͏͏ and͏͏ Zepto,͏͏ Swiggy͏͏ Instamart͏͏ is͏͏ likely͏͏ aiming͏͏ to͏͏ capitalize͏͏ on͏͏ the͏͏ festive͏͏ season,͏͏ a͏͏ time͏͏ when͏͏ consumers͏͏ tend͏͏ to͏͏ make͏͏ significant͏͏ purchases.

This͏͏ comes͏͏ at͏͏ a͏͏ time͏͏ when͏͏ Swiggy͏͏ is͏͏ gearing͏͏ up͏͏ to͏͏ list͏͏ on͏͏ the͏͏ stock͏͏ exchanges.͏͏ The͏͏ foodtech͏͏ giant͏͏ recently͏͏ submitted͏͏ its͏͏ updated͏͏ draft͏͏ red͏͏ herring͏͏ prospectus͏͏ (DRHP)͏͏ to͏͏ the͏͏ Securities͏͏ and͏͏ Exchange͏͏ Board͏͏ of͏͏ India͏͏ (SEBI).

The͏͏ Bengaluru-based͏͏ decacorn’s͏͏ IPO͏͏ will͏͏ include͏͏ a͏͏ fresh͏͏ issuance͏͏ of͏͏ shares͏͏ valued͏͏ at͏͏ INR͏͏ 3,750͏͏ crore,͏͏ along͏͏ with͏͏ an͏͏ offer͏͏ for͏͏ sale͏͏ (OFS)͏͏ of͏͏ 18.53͏͏ crore͏͏ equity͏͏ shares.

Meanwhile,͏͏ on͏͏ the͏͏ financial͏͏ side,͏͏ Swiggy’s͏͏ net͏͏ loss͏͏ increased͏͏ by͏͏ over͏͏ 7%,͏͏ reaching͏͏ INR͏͏ 605.7͏͏ crore͏͏ in͏͏ the͏͏ first͏͏ quarter͏͏ (Q1)͏͏ of͏͏ the͏͏ financial͏͏ year͏͏ 2024-25͏͏ (FY25),͏͏ compared͏͏ to͏͏ INR͏͏ 562.8͏͏ crore͏͏ in͏͏ the͏͏ same͏͏ quarter͏͏ of͏͏ the͏͏ previous͏͏ fiscal͏͏ year.͏͏ Operating͏͏ revenue,͏͏ however,͏͏ saw͏͏ a͏͏ significant͏͏ rise͏͏ of͏͏ nearly͏͏ 35%,͏͏ totaling͏͏ INR͏͏ 3,222.2͏͏ crore͏͏ during͏͏ the͏͏ reviewed͏͏ quarter,͏͏ up͏͏ from͏͏ INR͏͏ 2,389.8͏͏ crore͏͏ in͏͏ Q1͏͏ FY24.

Continue͏͏ Exploring:͏͏ Swiggy files͏͏ updated͏͏ DRHP͏͏ with͏͏ SEBI͏͏ for͏͏ INR͏͏ 3,750͏͏ Cr͏͏ IPO

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Conscious Chemist secures INR 12 Cr from Atomic Capital, strengthens board with new director

By
M Haziq Pandit
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0
Conscious Chemist

D2C beauty startup Conscious Chemist has secured INR 12 crore (around $1.4 million) in funding from private equity firm Atomic Capital.

Strategic͏͏ Board͏͏ Appointment:

Following͏͏ this͏͏ investment,͏͏ the͏͏ company͏͏ also͏͏ appointed͏͏ Apoorv͏͏ Gautam,͏͏ founder͏͏ and͏͏ managing͏͏ partner͏͏ of͏͏ Atomic͏͏ Capital,͏͏ to͏͏ its͏͏ board͏͏ of͏͏ directors.

Growth͏͏ Plans:

Conscious͏͏ Chemist͏͏ plans͏͏ to͏͏ utilize͏͏ the͏͏ new͏͏ funds͏͏ to͏͏ enhance͏͏ its͏͏ product͏͏ portfolio͏͏ and͏͏ operations,͏͏ while͏͏ expanding͏͏ its͏͏ digital͏͏ presence,͏͏ supply͏͏ chain,͏͏ marketing,͏͏ and͏͏ product͏͏ distribution.

In͏͏ addition,͏͏ the͏͏ funds͏͏ will͏͏ be͏͏ used͏͏ to͏͏ enhance͏͏ customer͏͏ experience͏͏ through͏͏ data-driven͏͏ insights͏͏ and͏͏ to͏͏ explore͏͏ new͏͏ markets͏͏ within͏͏ the͏͏ beauty͏͏ and͏͏ wellness͏͏ industry.

Continue͏͏ Exploring:͏͏ Skincare͏͏ brand͏͏ Conscious Chemist secures͏͏ INR͏͏ 1͏͏ Crore͏͏ debt͏͏ capital͏͏ from͏͏ Recur͏͏ Club͏͏ to͏͏ fuel͏͏ growth͏͏ and͏͏ expansion

“We’re͏͏ excited͏͏ to͏͏ welcome͏͏ Gautam͏͏ to͏͏ our͏͏ board͏͏ through͏͏ this͏͏ new͏͏ partnership͏͏ with͏͏ Atomic͏͏ Capital.͏͏ It’s͏͏ an͏͏ exciting͏͏ phase͏͏ for͏͏ Conscious͏͏ Chemist͏͏ as͏͏ we͏͏ focus͏͏ on͏͏ rapid͏͏ growth͏͏ and͏͏ delivering͏͏ more͏͏ innovative,͏͏ science-driven͏͏ skincare͏͏ solutions͏͏ to͏͏ Indian͏͏ consumers.͏͏ Our͏͏ goal͏͏ is͏͏ to͏͏ redefine͏͏ beauty͏͏ with͏͏ products͏͏ that͏͏ offer͏͏ real͏͏ results͏͏ and͏͏ transformative͏͏ experiences,”͏͏ said͏͏ Robin͏͏ Gupta,͏͏ chief͏͏ executive͏͏ of͏͏ Conscious͏͏ Chemist.

“Conscious͏͏ Chemist͏͏ holds͏͏ significant͏͏ potential͏͏ in͏͏ the͏͏ beauty͏͏ and͏͏ personal͏͏ care͏͏ space.͏͏ I’m͏͏ excited͏͏ to͏͏ support͏͏ the͏͏ team͏͏ as͏͏ they͏͏ strive͏͏ to͏͏ achieve͏͏ their͏͏ INR͏͏ 100͏͏ crore͏͏ annual͏͏ recurring͏͏ revenue͏͏ target,”͏͏ said͏͏ Gautam.

Founded͏͏ in͏͏ 2019͏͏ by͏͏ Robin͏͏ Gupta͏͏ and͏͏ Prakher͏͏ Mathur,͏͏ Conscious͏͏ Chemist͏͏ is͏͏ a͏͏ direct-to-consumer͏͏ beauty͏͏ brand͏͏ specializing͏͏ in͏͏ skincare.͏͏ The͏͏ brand͏͏ claims͏͏ to͏͏ have͏͏ served͏͏ over͏͏ 1͏͏ million͏͏ customers͏͏ across͏͏ India,͏͏ reaching͏͏ them͏͏ through͏͏ platforms͏͏ like͏͏ Amazon,͏͏ Nykaa,͏͏ Myntra,͏͏ Flipkart,͏͏ Blinkit,͏͏ Zepto,͏͏ and͏͏ its͏͏ own͏͏ website.

It͏͏ competes͏͏ with͏͏ brands͏͏ such͏͏ as͏͏ Dot͏͏ &͏͏ Key,͏͏ Earth͏͏ Rhythm,͏͏ Minimalist,͏͏ Dr.͏͏ Sheth’s,͏͏ and͏͏ The͏͏ Dermacco͏͏ in͏͏ the͏͏ Indian͏͏ skincare͏͏ market.

This͏͏ trend͏͏ reflects͏͏ the͏͏ growing͏͏ interest͏͏ of͏͏ investors͏͏ in͏͏ beauty͏͏ and͏͏ personal͏͏ care͏͏ startups,͏͏ driven͏͏ by͏͏ rising͏͏ consumer͏͏ demand͏͏ for͏͏ skincare͏͏ products.

According͏͏ to͏͏ the͏͏ report,͏͏ the͏͏ Indian͏͏ beauty͏͏ and͏͏ personal͏͏ care͏͏ market͏͏ is͏͏ recognized͏͏ as͏͏ the͏͏ fastest-growing͏͏ e-commerce͏͏ segment͏͏ in͏͏ the͏͏ country,͏͏ with͏͏ projections͏͏ indicating͏͏ it͏͏ will͏͏ reach͏͏ $28͏͏ billion͏͏ by͏͏ 2030,͏͏ making͏͏ up͏͏ 7%͏͏ of͏͏ the͏͏ overall͏͏ e-commerce͏͏ market.

Continue͏͏ Exploring:͏͏ Conscious Chemist partners͏͏ with͏͏ GoKwik͏͏ to͏͏ accelerate͏͏ digital͏͏ expansion͏͏ and͏͏ enhance͏͏ shopper͏͏ experience

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FirstCry’s GlobalBees acquires full stake in The Butternut Co with additional INR 8 Cr investment

By
M Haziq Pandit
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0
FirstCry GlobalBees The Butternut Co

GlobalBees, a subsidiary of FirstCry, has invested an additional INR 8 crore in D2C brand The Butternut Co, raising its stake in the healthy snack brand to 100%.

In͏͏ a͏͏ filing͏͏ to͏͏ the͏͏ stock͏͏ exchange,͏͏ FirstCry͏͏ announced͏͏ that͏͏ GlobalBees͏͏ made͏͏ the͏͏ additional͏͏ investment͏͏ to͏͏ acquire͏͏ a͏͏ 24%͏͏ stake͏͏ in͏͏ the͏͏ D2C͏͏ brand.

According͏͏ to͏͏ FirstCry’s͏͏ red͏͏ herring͏͏ prospectus͏͏ (RHP)͏͏ filed͏͏ on͏͏ August͏͏ 6,͏͏ GlobalBees͏͏ owned͏͏ a͏͏ 76%͏͏ stake͏͏ in͏͏ The͏͏ Butternut͏͏ Co,͏͏ while͏͏ co-founders͏͏ Sahil͏͏ Kukreja͏͏ and͏͏ Ankita͏͏ Kukreja͏͏ collectively͏͏ held͏͏ 24%.

Revenue͏͏ Surge͏͏ for͏͏ The Butternut Co:

According͏͏ to͏͏ the͏͏ RHP,͏͏ The͏͏ Butternut͏͏ Co’s͏͏ revenue͏͏ from͏͏ operations͏͏ for͏͏ the͏͏ financial͏͏ year͏͏ 2023-24͏͏ (FY24)͏͏ soared͏͏ by͏͏ 57%,͏͏ reaching͏͏ INR͏͏ 11.14͏͏ crore͏͏ compared͏͏ to͏͏ INR͏͏ 7.09͏͏ crore͏͏ in͏͏ the͏͏ previous͏͏ fiscal͏͏ year.͏͏ The͏͏ startup͏͏ reported͏͏ a͏͏ loss͏͏ of͏͏ INR͏͏ 1.61͏͏ crore͏͏ for͏͏ the͏͏ fiscal͏͏ year,͏͏ an͏͏ improvement͏͏ from͏͏ a͏͏ loss͏͏ of͏͏ INR͏͏ 2.77͏͏ crore͏͏ in͏͏ FY23.

The͏͏ filing͏͏ indicated͏͏ that͏͏ The͏͏ Butternut͏͏ Co’s͏͏ net͏͏ worth͏͏ is͏͏ INR͏͏ 5.8͏͏ crore.

Founded͏͏ in͏͏ 2016͏͏ by͏͏ Sahil͏͏ and͏͏ Ankita͏͏ Kukreja,͏͏ The͏͏ Butternut͏͏ Co͏͏ offers͏͏ almond,͏͏ seed,͏͏ and͏͏ peanut͏͏ butter͏͏ variants͏͏ through͏͏ its͏͏ website.͏͏ GlobalBees͏͏ made͏͏ an͏͏ investment͏͏ in͏͏ the͏͏ startup͏͏ in͏͏ 2022.

At͏͏ that͏͏ time,͏͏ it͏͏ also͏͏ announced͏͏ investments͏͏ in͏͏ D2C͏͏ startups͏͏ HealthVit͏͏ and͏͏ Top͏͏ Gummy,͏͏ personal͏͏ care͏͏ brands͏͏ UrbanGabru͏͏ and͏͏ Urban͏͏ Yog,͏͏ and͏͏ the͏͏ lifestyle͏͏ brand͏͏ Kuber͏͏ Industries.

GlobalBees’͏͏ Expanding͏͏ Portfolio:

This͏͏ comes͏͏ days͏͏ after͏͏ GlobalBees͏͏ increased͏͏ its͏͏ stake͏͏ in͏͏ The͏͏ Clownfish,͏͏ a͏͏ brand͏͏ specializing͏͏ in͏͏ bags͏͏ and͏͏ rainwear.͏͏ On͏͏ September͏͏ 21,͏͏ the͏͏ company͏͏ announced͏͏ an͏͏ investment͏͏ of͏͏ INR͏͏ 5.88͏͏ crore͏͏ to͏͏ secure͏͏ an͏͏ additional͏͏ 22.5%͏͏ stake͏͏ in͏͏ the͏͏ startup.

Founded͏͏ by͏͏ Nitin͏͏ Agarwal͏͏ and͏͏ Supam͏͏ Maheshwari,͏͏ GlobalBees͏͏ invests͏͏ in͏͏ and͏͏ acquires͏͏ brands͏͏ that͏͏ sell͏͏ their͏͏ products͏͏ on͏͏ Amazon͏͏ India,͏͏ Flipkart,͏͏ and͏͏ various͏͏ other͏͏ e-commerce͏͏ marketplaces.͏͏ The͏͏ Thrasio-style͏͏ arm͏͏ of͏͏ FirstCry͏͏ also͏͏ includes͏͏ The͏͏ Better͏͏ Home,͏͏ andMe,͏͏ Absorbia,͏͏ Yellow͏͏ Chimes,͏͏ Prolixir,͏͏ Rey͏͏ Naturals,͏͏ Healthy͏͏ Hey,͏͏ Intellilens,͏͏ Strauss,͏͏ Mush,͏͏ and͏͏ Reach͏͏ in͏͏ its͏͏ portfolio.

Continue͏͏ Exploring:͏͏ GlobalBees acquires͏͏ additional͏͏ 22.5%͏͏ stake͏͏ in͏͏ Solarista͏͏ for͏͏ INR͏͏ 5.88͏͏ Cr

Strong͏͏ Revenue͏͏ Growth͏͏ for͏͏ GlobalBees:

GlobalBees͏͏ reported͏͏ operating͏͏ revenue͏͏ of͏͏ INR͏͏ 324.5͏͏ crore͏͏ in͏͏ Q1͏͏ FY25,͏͏ a͏͏ 26%͏͏ increase͏͏ from͏͏ INR͏͏ 256.5͏͏ crore͏͏ in͏͏ the͏͏ same͏͏ quarter͏͏ last͏͏ year.

During͏͏ the͏͏ quarter,͏͏ its͏͏ parent͏͏ company͏͏ FirstCry͏͏ reduced͏͏ its͏͏ consolidated͏͏ net͏͏ loss͏͏ by͏͏ 31%͏͏ year-on-year͏͏ (YoY)͏͏ to͏͏ INR͏͏ 75.68͏͏ crore.͏͏ Meanwhile,͏͏ operating͏͏ revenue͏͏ rose͏͏ by͏͏ 10%͏͏ to͏͏ INR͏͏ 1,652.07͏͏ crore,͏͏ up͏͏ from͏͏ INR͏͏ 1,496.93͏͏ crore͏͏ in͏͏ Q1͏͏ FY24.

Shares͏͏ of͏͏ FirstCry͏͏ closed͏͏ yesterday’s͏͏ trading͏͏ session͏͏ at͏͏ INR͏͏ 643.80͏͏ on͏͏ the͏͏ BSE,͏͏ reflecting͏͏ a͏͏ 2.9%͏͏ increase.

Continue͏͏ Exploring:͏͏ GlobalBees acquires͏͏ additional͏͏ 23%͏͏ in͏͏ Frootle͏͏ and͏͏ Wellspire͏͏ India,͏͏ raising͏͏ stake͏͏ to͏͏ 74%

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BizDateUp co-founders acquire stakes in IPO-bound Swiggy

By
M Haziq Pandit
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0
Swiggy BizDateUp

In a bold move, venture capitalists and co-founders of BizDateup, Jeet Chandan and Meet Jain, have acquired an undisclosed stake in Swiggy, the IPO-bound foodtech giant.

Investment͏͏ Made͏͏ via͏͏ Off-Market͏͏ Deal:

In͏͏ a͏͏ statement,͏͏ the͏͏ company͏͏ revealed͏͏ that͏͏ the͏͏ investment͏͏ was͏͏ made͏͏ through͏͏ an͏͏ “off-market”͏͏ secondary͏͏ deal͏͏ for͏͏ an͏͏ undisclosed͏͏ amount.

Chandan͏͏ expressed,͏͏ “Having͏͏ been͏͏ an͏͏ entrepreneur͏͏ since͏͏ the͏͏ age͏͏ of͏͏ 13,͏͏ I͏͏ am͏͏ passionate͏͏ about͏͏ building͏͏ businesses͏͏ that͏͏ demonstrate͏͏ disruptive͏͏ potential͏͏ and͏͏ positively͏͏ influence͏͏ consumers’͏͏ lives.͏͏ Swiggy’s͏͏ innovative͏͏ strategy͏͏ and͏͏ leadership͏͏ in͏͏ the͏͏ food͏͏ delivery͏͏ industry͏͏ resonate͏͏ perfectly͏͏ with͏͏ my͏͏ investment͏͏ philosophy.”

Cofounder͏͏ Jain͏͏ remarked,͏͏ “The͏͏ emergence͏͏ of͏͏ engaging,͏͏ user-friendly͏͏ apps͏͏ and͏͏ tech-enabled͏͏ driver͏͏ networks,͏͏ along͏͏ with͏͏ changing͏͏ consumer͏͏ expectations,͏͏ has͏͏ turned͏͏ ready-to-eat͏͏ food͏͏ delivery͏͏ into͏͏ a͏͏ significant͏͏ category.͏͏ We͏͏ believe͏͏ Swiggy͏͏ is͏͏ ideally͏͏ positioned͏͏ to͏͏ shape͏͏ the͏͏ future͏͏ of͏͏ food͏͏ delivery͏͏ with͏͏ its͏͏ innovative͏͏ solutions͏͏ and͏͏ customer-focused͏͏ approach.”

BizDateUp’s͏͏ Rise͏͏ in͏͏ Angel͏͏ Investments:

Founded͏͏ by͏͏ Chandan͏͏ and͏͏ Jain͏͏ in͏͏ 2020,͏͏ BizDateUp͏͏ enables͏͏ angel͏͏ investors͏͏ to͏͏ invest͏͏ in͏͏ Indian͏͏ startups͏͏ with͏͏ a͏͏ minimum͏͏ capital͏͏ of͏͏ INR͏͏ 1͏͏ lakh.͏͏ In͏͏ April͏͏ 2024,͏͏ the͏͏ investment͏͏ firm͏͏ announced͏͏ the͏͏ launch͏͏ of͏͏ a͏͏ INR͏͏ 200͏͏ crore͏͏ fund͏͏ dedicated͏͏ to͏͏ investing͏͏ in͏͏ technology͏͏ startups.

It͏͏ has͏͏ raised͏͏ over͏͏ $10͏͏ million͏͏ from͏͏ more͏͏ than͏͏ 1,000͏͏ active͏͏ angel͏͏ investors͏͏ in͏͏ the͏͏ financial͏͏ year͏͏ 2023-24͏͏ (FY24).

Celebrity͏͏ Interest͏͏ in͏͏ Swiggy’s͏͏ IPO:

This͏͏ development͏͏ comes͏͏ as͏͏ a͏͏ wave͏͏ of͏͏ celebrities͏͏ seeks͏͏ to͏͏ acquire͏͏ stakes͏͏ in͏͏ the͏͏ company͏͏ ahead͏͏ of͏͏ Swiggy’s͏͏ IPO.͏͏ Last͏͏ week,͏͏ cricketers͏͏ Rahul͏͏ Dravid͏͏ and͏͏ Zaheer͏͏ Khan,͏͏ tennis͏͏ star͏͏ Rohan͏͏ Bopanna,͏͏ director͏͏ Karan͏͏ Johar,͏͏ and͏͏ actor-entrepreneur͏͏ Ashish͏͏ Chowdhry͏͏ invested͏͏ in͏͏ the͏͏ foodtech͏͏ giant.

Prior͏͏ to͏͏ that,͏͏ actors͏͏ like͏͏ Amitabh͏͏ Bachchan͏͏ and͏͏ Madhuri͏͏ Dixit͏͏ also͏͏ acquired͏͏ stakes͏͏ in͏͏ Swiggy͏͏ ahead͏͏ of͏͏ the͏͏ decacorn’s͏͏ IPO.

Continue͏͏ Exploring:͏͏ Swiggy attracts͏͏ celebrity͏͏ investors:͏͏ Rahul͏͏ Dravid,͏͏ Karan͏͏ Johar͏͏ &͏͏ others͏͏ invest͏͏ in͏͏ pre-IPO͏͏ round

In͏͏ September,͏͏ listed͏͏ porcelain͏͏ insulator͏͏ manufacturer͏͏ Modern͏͏ Insulators͏͏ purchased͏͏ shares͏͏ in͏͏ Swiggy͏͏ valued͏͏ at͏͏ nearly͏͏ INR͏͏ 5͏͏ crore,͏͏ while͏͏ Hindustan͏͏ Composites͏͏ announced͏͏ plans͏͏ to͏͏ acquire͏͏ 1.5͏͏ lakh͏͏ shares͏͏ for͏͏ a͏͏ cash͏͏ consideration͏͏ of͏͏ INR͏͏ 5.17͏͏ crore.

This͏͏ follows͏͏ closely͏͏ after͏͏ Swiggy͏͏ submitted͏͏ its͏͏ updated͏͏ draft͏͏ red͏͏ herring͏͏ prospectus͏͏ (DRHP)͏͏ to͏͏ the͏͏ Securities͏͏ and͏͏ Exchange͏͏ Board͏͏ of͏͏ India͏͏ (SEBI)͏͏ last͏͏ week͏͏ for͏͏ an͏͏ initial͏͏ public͏͏ offering͏͏ (IPO)͏͏ valued͏͏ at͏͏ INR͏͏ 3,750͏͏ crore.

The͏͏ public͏͏ issue͏͏ will͏͏ consist͏͏ of͏͏ a͏͏ fresh͏͏ issuance͏͏ of͏͏ shares͏͏ valued͏͏ at͏͏ INR͏͏ 3,750͏͏ crore,͏͏ along͏͏ with͏͏ an͏͏ offer͏͏ for͏͏ sale͏͏ (OFS)͏͏ of͏͏ 18.53͏͏ crore͏͏ equity͏͏ shares.

On͏͏ the͏͏ financial͏͏ front,͏͏ the͏͏ DRHP͏͏ revealed͏͏ that͏͏ Swiggy’s͏͏ net͏͏ losses͏͏ increased͏͏ by͏͏ over͏͏ 7%͏͏ to͏͏ INR͏͏ 605.7͏͏ crore͏͏ in͏͏ Q1͏͏ FY25,͏͏ compared͏͏ to͏͏ INR͏͏ 562.8͏͏ crore͏͏ in͏͏ the͏͏ same͏͏ quarter͏͏ of͏͏ the͏͏ previous͏͏ fiscal͏͏ year.͏͏ Nevertheless,͏͏ its͏͏ operational͏͏ revenue͏͏ surged͏͏ nearly͏͏ 35%͏͏ to͏͏ INR͏͏ 3,222.2͏͏ crore͏͏ in͏͏ the͏͏ June͏͏ quarter,͏͏ up͏͏ from͏͏ INR͏͏ 2,389.8͏͏ crore͏͏ in͏͏ Q1͏͏ FY24.

Continue͏͏ Exploring:͏͏ Swiggy’s͏͏ FY24͏͏ revenue͏͏ soars͏͏ 36%͏͏ to͏͏ INR͏͏ 11,247͏͏ Cr;͏͏ net͏͏ loss͏͏ nearly͏͏ halves͏͏ to͏͏ INR͏͏ 2,350͏͏ Cr

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Pluckk acquires D2C nutrition brand Upnourish for $1.4 Mn

By
M Haziq Pandit
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0
Pluckk

In a strategic move to diversify its product mix, fresh fruits and vegetables platform Pluckk has acquired D2C nutrition brand Upnourish for $1.4 Mn.

Expansion͏͏ into͏͏ Nutrition͏͏ Vertical:

Pluckk͏͏ stated͏͏ that͏͏ the͏͏ acquisition͏͏ will͏͏ allow͏͏ it͏͏ to͏͏ expand͏͏ its͏͏ offerings͏͏ and͏͏ prioritise͏͏ the͏͏ “growth͏͏ of͏͏ a͏͏ new͏͏ vertical͏͏ focused͏͏ on͏͏ nutrition.”

Continue͏͏ Exploring:͏͏ Foodtech͏͏ startup͏͏ Pluckk targets͏͏ INR͏͏ 200͏͏ Cr͏͏ ARR͏͏ by͏͏ fiscal͏͏ year-end,͏͏ plans͏͏ expansion͏͏ into͏͏ new͏͏ categories

Founded͏͏ in͏͏ 2021͏͏ by͏͏ husband-and-wife͏͏ duo͏͏ Aayushi͏͏ and͏͏ Kuonal͏͏ Lakhpati,͏͏ Upnourish͏͏ offers͏͏ on-the-go͏͏ meals͏͏ like͏͏ smoothies,͏͏ soups,͏͏ and͏͏ bars,͏͏ along͏͏ with͏͏ personalised͏͏ nutrition͏͏ plans.

Pluckk͏͏ founder͏͏ and͏͏ CEO͏͏ Pratik͏͏ Gupta͏͏ commented͏͏ on͏͏ the͏͏ acquisition,͏͏ saying,͏͏ “We͏͏ are͏͏ pleased͏͏ to͏͏ welcome͏͏ Upnourish͏͏ to͏͏ the͏͏ Pluckk͏͏ family.͏͏ This͏͏ move͏͏ directly͏͏ benefits͏͏ our͏͏ customers,͏͏ as͏͏ their͏͏ products͏͏ have͏͏ made͏͏ it͏͏ easier͏͏ to͏͏ meet͏͏ on-the-go͏͏ nutrition͏͏ needs͏͏ with͏͏ their͏͏ meal͏͏ replacement͏͏ smoothies,͏͏ soups,͏͏ and͏͏ bars.”

Founded͏͏ in͏͏ 2021͏͏ by͏͏ Gupta,͏͏ Pluckk͏͏ operates͏͏ on͏͏ a͏͏ ‘farm-to-table’͏͏ concept,͏͏ offering͏͏ a͏͏ range͏͏ of͏͏ products͏͏ including͏͏ fruits,͏͏ vegetables,͏͏ meal͏͏ kits,͏͏ juices,͏͏ dips,͏͏ soups,͏͏ smoothies,͏͏ and͏͏ salads.͏͏ The͏͏ company͏͏ has͏͏ a͏͏ presence͏͏ in͏͏ Delhi,͏͏ Mumbai,͏͏ Bengaluru,͏͏ and͏͏ Pune,͏͏ selling͏͏ its͏͏ products͏͏ through͏͏ its͏͏ own͏͏ app͏͏ and͏͏ website,͏͏ as͏͏ well͏͏ as͏͏ on͏͏ platforms͏͏ such͏͏ as͏͏ Amazon,͏͏ Swiggy͏͏ Instamart,͏͏ Zepto,͏͏ Blinkit,͏͏ and͏͏ Flipkart͏͏ Minutes.

Pluckk͏͏ delivers͏͏ over͏͏ 20͏͏ lakh͏͏ products͏͏ each͏͏ month͏͏ to͏͏ 5͏͏ lakh͏͏ households.

Upnourish͏͏ cofounder͏͏ and͏͏ business͏͏ head͏͏ Kuonal͏͏ Lakhapati͏͏ commented͏͏ on͏͏ the͏͏ acquisition,͏͏ stating,͏͏ “We͏͏ are͏͏ excited͏͏ to͏͏ partner͏͏ with͏͏ Pluckk͏͏ in͏͏ this͏͏ new͏͏ chapter.͏͏ Pluckk’s͏͏ dedication͏͏ to͏͏ providing͏͏ clean,͏͏ fresh,͏͏ high-quality͏͏ produce,͏͏ along͏͏ with͏͏ Upnourish’s͏͏ innovative͏͏ and͏͏ convenient͏͏ nutritional͏͏ products,͏͏ positions͏͏ us͏͏ to͏͏ help͏͏ people͏͏ become͏͏ leaner,͏͏ fitter,͏͏ and͏͏ bolder.”

Last͏͏ year,͏͏ Pluckk͏͏ secured͏͏ funding͏͏ from͏͏ Bollywood͏͏ actor͏͏ Kareena͏͏ Kapoor͏͏ Khan,͏͏ though͏͏ the͏͏ amount͏͏ remains͏͏ undisclosed.͏͏ The͏͏ company͏͏ is͏͏ also͏͏ backed͏͏ by͏͏ Exponentia͏͏ Ventures.

Continue͏͏ Exploring:͏͏ Bollywood͏͏ actress͏͏ Kareena͏͏ Kapoor͏͏ Khan͏͏ backs͏͏ D2C͏͏ startup͏͏ Pluckk as͏͏ brand͏͏ ambassador͏͏ and͏͏ investor

Health-Conscious͏͏ D2C͏͏ Market͏͏ Growth:

The͏͏ acquisition͏͏ comes͏͏ as͏͏ the͏͏ Indian͏͏ health-focused͏͏ D2C͏͏ space͏͏ experiences͏͏ a͏͏ surge͏͏ of͏͏ new͏͏ players,͏͏ driven͏͏ by͏͏ consumers’͏͏ increasing͏͏ health͏͏ consciousness͏͏ in͏͏ the͏͏ aftermath͏͏ of͏͏ the͏͏ pandemic.

The͏͏ rise͏͏ in͏͏ smartphone͏͏ penetration͏͏ and͏͏ affordable͏͏ internet͏͏ has͏͏ significantly͏͏ boosted͏͏ India’s͏͏ D2C͏͏ economy.͏͏ According͏͏ to͏͏ a͏͏ report,͏͏ the͏͏ homegrown͏͏ D2C͏͏ market͏͏ is͏͏ expected͏͏ to͏͏ reach͏͏ a͏͏ size͏͏ of͏͏ $100͏͏ billion͏͏ by͏͏ 2025.

Promising͏͏ Future͏͏ for͏͏ F&B͏͏ Industry:

Within͏͏ this͏͏ sector,͏͏ the͏͏ food͏͏ and͏͏ beverage͏͏ (F&B)͏͏ industry͏͏ is͏͏ projected͏͏ to͏͏ grow͏͏ to͏͏ a͏͏ size͏͏ of͏͏ $68͏͏ billion͏͏ by͏͏ 2030,͏͏ according͏͏ to͏͏ another͏͏ report.

Just͏͏ last͏͏ week,͏͏ D2C͏͏ bread͏͏ brand͏͏ The͏͏ Health͏͏ Factory͏͏ raised͏͏ $3.5͏͏ million͏͏ (INR͏͏ 29.2͏͏ crore)͏͏ in͏͏ a͏͏ seed͏͏ funding͏͏ round͏͏ led͏͏ by͏͏ Peak͏͏ XV͏͏ Partners’͏͏ accelerator͏͏ programme,͏͏ Surge.͏͏ Earlier,͏͏ D2C͏͏ health͏͏ food͏͏ brand͏͏ Alpino͏͏ secured͏͏ $1.2͏͏ million͏͏ in͏͏ funding͏͏ from͏͏ actor͏͏ Shilpa͏͏ Shetty͏͏ and͏͏ other͏͏ angel͏͏ investors.

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Luxury menswear brand French Crown set to make offline debut with stores across key Indian cities

By
M Haziq Pandit
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0
Menswear French Crown

French Crown, a prominent luxury menswear brand, is set to make its offline debut, signifying a major milestone in its growth journey. Established by Ilesh Ghevariya and Bhavdip Ghevariya in 2016, the͏͏ brand͏͏ is͏͏ renowned͏͏ for͏͏ its͏͏ dedication͏͏ to͏͏ sustainable͏͏ fashion.͏͏ The͏͏ company͏͏ has͏͏ now͏͏ revealed͏͏ plans͏͏ to͏͏ launch͏͏ its͏͏ first͏͏ physical͏͏ stores͏͏ in͏͏ key͏͏ Indian͏͏ cities.

French͏͏ Crown͏͏ began͏͏ as͏͏ an͏͏ online-only͏͏ platform͏͏ and͏͏ rapidly͏͏ built͏͏ a͏͏ global͏͏ customer͏͏ base͏͏ for͏͏ its͏͏ premium͏͏ yet͏͏ budget-friendly͏͏ men’s͏͏ fashion.͏͏ Today,͏͏ the͏͏ brand͏͏ operates͏͏ in͏͏ over͏͏ 90͏͏ countries,͏͏ launching͏͏ more͏͏ than͏͏ 300͏͏ new͏͏ designs͏͏ each͏͏ week.͏͏ Its͏͏ collections͏͏ are͏͏ highly͏͏ regarded͏͏ for͏͏ their͏͏ stylish͏͏ blend͏͏ of͏͏ sophistication,͏͏ comfort,͏͏ and͏͏ contemporary͏͏ flair.

From͏͏ Online͏͏ to͏͏ Offline:

Although͏͏ online͏͏ shopping͏͏ has͏͏ been͏͏ central͏͏ to͏͏ French͏͏ Crown’s͏͏ success,͏͏ the͏͏ brand͏͏ understands͏͏ the͏͏ value͏͏ of͏͏ offering͏͏ a͏͏ more͏͏ hands-on͏͏ shopping͏͏ experience.͏͏ By͏͏ launching͏͏ physical͏͏ stores,͏͏ French͏͏ Crown͏͏ seeks͏͏ to͏͏ cater͏͏ to͏͏ the͏͏ increasing͏͏ demand͏͏ for͏͏ an͏͏ immersive͏͏ retail͏͏ environment͏͏ where͏͏ customers͏͏ can͏͏ touch͏͏ the͏͏ fabrics,͏͏ try͏͏ on͏͏ outfits,͏͏ and͏͏ enjoy͏͏ personalized͏͏ service.

Continue͏͏ Exploring:͏͏ Menswear brand͏͏ DaMENSCH͏͏ raises͏͏ INR͏͏ 21.62͏͏ Cr͏͏ from͏͏ existing͏͏ investors

Exclusive͏͏ Offerings:

“The͏͏ online͏͏ platform͏͏ has͏͏ enabled͏͏ us͏͏ to͏͏ reach͏͏ a͏͏ broader͏͏ audience͏͏ and͏͏ establish͏͏ a͏͏ global͏͏ presence.͏͏ However,͏͏ we͏͏ have͏͏ noticed͏͏ that͏͏ many͏͏ customers͏͏ still͏͏ value͏͏ the͏͏ in-store͏͏ experience,͏͏ particularly͏͏ in͏͏ luxury͏͏ fashion.͏͏ Our͏͏ offline͏͏ stores͏͏ will͏͏ feature͏͏ exclusive͏͏ collections,͏͏ offering͏͏ customers͏͏ unique͏͏ items͏͏ that͏͏ aren’t͏͏ available͏͏ online,”͏͏ said͏͏ Ilesh͏͏ Ghevariya,͏͏ Co-founder͏͏ of͏͏ French͏͏ Crown.

Alongside͏͏ exclusive͏͏ collections,͏͏ French͏͏ Crown’s͏͏ stores͏͏ will͏͏ provide͏͏ in-store͏͏ tailoring͏͏ services,͏͏ ensuring͏͏ that͏͏ every͏͏ customer͏͏ can͏͏ achieve͏͏ the͏͏ perfect͏͏ fit͏͏ tailored͏͏ to͏͏ their͏͏ individual͏͏ style͏͏ preferences.

“We͏͏ want͏͏ our͏͏ customers͏͏ to͏͏ feel͏͏ that͏͏ they’re͏͏ not͏͏ just͏͏ purchasing͏͏ clothes,͏͏ but͏͏ entering͏͏ a͏͏ realm͏͏ of͏͏ personalized͏͏ luxury.͏͏ Our͏͏ stores͏͏ will͏͏ embody͏͏ this͏͏ with͏͏ sleek,͏͏ modern͏͏ interiors͏͏ designed͏͏ to͏͏ provide͏͏ an͏͏ enhanced͏͏ shopping͏͏ experience,”͏͏ Ghevariya͏͏ further͏͏ stated.

Strategic͏͏ Expansion͏͏ for͏͏ French Crown:

The͏͏ brand’s͏͏ offline͏͏ expansion͏͏ will͏͏ kick͏͏ off͏͏ with͏͏ 10͏͏ stores͏͏ in͏͏ key͏͏ Indian͏͏ cities,͏͏ giving͏͏ local͏͏ customers͏͏ the͏͏ chance͏͏ to͏͏ engage͏͏ with͏͏ the͏͏ brand͏͏ directly͏͏ and͏͏ experience͏͏ its͏͏ commitment͏͏ to͏͏ style,͏͏ quality,͏͏ and͏͏ comfort͏͏ firsthand.͏͏ These͏͏ locations͏͏ have͏͏ been͏͏ carefully͏͏ selected͏͏ to͏͏ appeal͏͏ to͏͏ fashion-forward͏͏ and͏͏ style-conscious͏͏ consumers.

This͏͏ initiative͏͏ is͏͏ part͏͏ of͏͏ French͏͏ Crown’s͏͏ larger͏͏ strategy͏͏ to͏͏ enhance͏͏ its͏͏ presence͏͏ throughout͏͏ India.͏͏ The͏͏ brand͏͏ is͏͏ dedicated͏͏ to͏͏ making͏͏ luxury͏͏ fashion͏͏ more͏͏ accessible͏͏ while͏͏ maintaining͏͏ a͏͏ focus͏͏ on͏͏ sustainability͏͏ and͏͏ high-quality͏͏ craftsmanship.͏͏ With͏͏ the͏͏ launch͏͏ of͏͏ the͏͏ new͏͏ “Frenchies”͏͏ line,͏͏ which͏͏ offers͏͏ trendy͏͏ and͏͏ comfortable͏͏ styles͏͏ for͏͏ everyday͏͏ wear,͏͏ French͏͏ Crown͏͏ aims͏͏ to͏͏ expand͏͏ its͏͏ customer͏͏ base.

The͏͏ initial͏͏ batch͏͏ of͏͏ stores͏͏ will͏͏ open͏͏ in͏͏ Surat,͏͏ Akola,͏͏ Chandrapur,͏͏ Nagpur,͏͏ Delhi,͏͏ and͏͏ other͏͏ locations.͏͏ By͏͏ integrating͏͏ its͏͏ robust͏͏ online͏͏ platform͏͏ with͏͏ immersive͏͏ physical͏͏ stores,͏͏ French͏͏ Crown’s͏͏ offline͏͏ expansion͏͏ marks͏͏ a͏͏ significant͏͏ milestone͏͏ in͏͏ the͏͏ brand’s͏͏ evolution,͏͏ providing͏͏ customers͏͏ with͏͏ the͏͏ best͏͏ of͏͏ both͏͏ worlds—luxury͏͏ fashion͏͏ at͏͏ their͏͏ fingertips͏͏ and͏͏ the͏͏ personalized͏͏ experience͏͏ of͏͏ in-store͏͏ shopping.

Continue͏͏ Exploring:͏͏ Menswear brand͏͏ Camaro͏͏ to͏͏ enter͏͏ western͏͏ and͏͏ northern͏͏ India͏͏ market,͏͏ targets͏͏ INR͏͏ 200͏͏ Cr͏͏ turnover

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MiniKlub expands Pune footprint, opens first exclusive store in Aundh

By
M Haziq Pandit
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0
MiniKlub

MiniKlub, a leading babywear brand, has opened its first store in Aundh, Pune. This expansion follows successful launches in Ajmer, Bhopal, and Mathura, reinforcing MiniKlub’s dedication to providing a wide range of products for parents. The͏͏ new͏͏ store͏͏ serves͏͏ as͏͏ a͏͏ one-stop͏͏ shop͏͏ for͏͏ newborn͏͏ essentials,͏͏ babywear,͏͏ kids’͏͏ fashion,͏͏ footwear,͏͏ toys,͏͏ travel͏͏ gear,͏͏ baby͏͏ care͏͏ products,͏͏ and͏͏ more,͏͏ catering͏͏ to͏͏ children͏͏ from͏͏ newborns͏͏ to͏͏ eight͏͏ years͏͏ old.

Anjana͏͏ Pasi,͏͏ Director͏͏ of͏͏ MiniKlub,͏͏ stated,͏͏ “We͏͏ are͏͏ excited͏͏ to͏͏ introduce͏͏ MiniKlub’s͏͏ exceptional͏͏ offerings͏͏ to͏͏ Pune.͏͏ Our͏͏ commitment͏͏ has͏͏ always͏͏ been͏͏ to͏͏ provide͏͏ a͏͏ diverse͏͏ selection͏͏ of͏͏ safe͏͏ and͏͏ comfortable͏͏ apparel͏͏ and͏͏ non-apparel͏͏ items͏͏ for͏͏ children͏͏ aged͏͏ newborn͏͏ to͏͏ eight͏͏ years.͏͏ We͏͏ look͏͏ forward͏͏ to͏͏ becoming͏͏ a͏͏ trusted͏͏ destination͏͏ for͏͏ families͏͏ in͏͏ Pune͏͏ and͏͏ the͏͏ surrounding͏͏ areas.”

Strong͏͏ Omni-Channel͏͏ Presence:

Founded͏͏ in͏͏ 2013,͏͏ MiniKlub,͏͏ a͏͏ part͏͏ of͏͏ First͏͏ Steps͏͏ Babywear,͏͏ has͏͏ quickly͏͏ become͏͏ a͏͏ prominent͏͏ omni-channel͏͏ brand.͏͏ With͏͏ a͏͏ presence͏͏ in͏͏ over͏͏ 450͏͏ multi-brand͏͏ outlets͏͏ and͏͏ leading͏͏ e-retailers,͏͏ as͏͏ well͏͏ as͏͏ exclusive͏͏ physical͏͏ and͏͏ online͏͏ stores,͏͏ MiniKlub͏͏ has͏͏ solidified͏͏ its͏͏ reputation͏͏ as͏͏ a͏͏ trusted͏͏ name͏͏ in͏͏ children’s͏͏ fashion.͏͏ The͏͏ brand͏͏ currently͏͏ operates͏͏ 58͏͏ exclusive͏͏ stores͏͏ across͏͏ 26͏͏ cities͏͏ in͏͏ India.

Continue͏͏ Exploring:͏͏ MiniKlub expands͏͏ reach͏͏ with͏͏ grand͏͏ opening͏͏ of͏͏ kidswear͏͏ haven͏͏ in͏͏ Bhatinda

MiniKlub͏͏ is͏͏ dedicated͏͏ to͏͏ creating͏͏ items͏͏ that͏͏ prioritise͏͏ the͏͏ safety͏͏ and͏͏ comfort͏͏ of͏͏ babies͏͏ while͏͏ embracing͏͏ the͏͏ joyful͏͏ essence͏͏ of͏͏ childhood.͏͏ The͏͏ brand͏͏ follows͏͏ sustainable͏͏ manufacturing͏͏ practices͏͏ to͏͏ ensure͏͏ high-quality͏͏ products͏͏ for͏͏ its͏͏ customers.͏͏ MiniKlub’s͏͏ offerings͏͏ are͏͏ available͏͏ on͏͏ leading͏͏ e-commerce͏͏ platforms͏͏ such͏͏ as͏͏ Amazon,͏͏ Myntra,͏͏ Flipkart,͏͏ and͏͏ Ajio,͏͏ and͏͏ they͏͏ provide͏͏ nationwide͏͏ delivery͏͏ through͏͏ their͏͏ website.

With͏͏ the͏͏ recent͏͏ opening͏͏ in͏͏ Aundh,͏͏ Pune,͏͏ MiniKlub͏͏ reinforces͏͏ its͏͏ mission͏͏ to͏͏ be͏͏ the͏͏ go-to͏͏ destination͏͏ for͏͏ young͏͏ families͏͏ across͏͏ India,͏͏ offering͏͏ the͏͏ finest͏͏ in͏͏ children’s͏͏ fashion͏͏ and͏͏ care͏͏ essentials.

Continue͏͏ Exploring:͏͏ MiniKlub broadens͏͏ reach͏͏ in͏͏ Trivandrum,͏͏ brings͏͏ trendy͏͏ kidswear͏͏ to͏͏ Lulu͏͏ Mall

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Apparel Group expands Victoria’s Secret with new store launch in Kochi

By
M Haziq Pandit
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0
Apparel Group Victoria's Secret

Apparel Group has expanded its footprint in South India with the launch of a new Victoria’s Secret store in LuLu Mall, Kochi. This marks a key move in the company’s strategy to cater to the rising demand for its globally renowned brands. The͏͏ new͏͏ outlet,͏͏ Victoria’s͏͏ Secret’s͏͏ 10th͏͏ store͏͏ in͏͏ India,͏͏ reflects͏͏ the͏͏ brand’s͏͏ dedication͏͏ to͏͏ offering͏͏ an͏͏ elevated͏͏ shopping͏͏ experience.

The͏͏ new͏͏ store͏͏ is͏͏ designed͏͏ around͏͏ Victoria’s͏͏ Secret’s͏͏ innovative͏͏ ‘Store͏͏ of͏͏ the͏͏ Future’͏͏ concept,͏͏ blending͏͏ advanced͏͏ technology͏͏ with͏͏ an͏͏ immersive͏͏ shopping͏͏ experience.͏͏ It͏͏ spotlights͏͏ the͏͏ brand’s͏͏ extensive͏͏ beauty͏͏ range,͏͏ offering͏͏ an͏͏ exclusive͏͏ selection͏͏ of͏͏ fragrances͏͏ and͏͏ premium͏͏ body͏͏ care͏͏ products.

Continue͏͏ Exploring:͏͏ Myntra͏͏ expands͏͏ international͏͏ brand͏͏ portfolio͏͏ with͏͏ Victoria’s Secret Beauty,͏͏ teams͏͏ up͏͏ with͏͏ Apparel Group for͏͏ exclusive͏͏ collaboration

“At͏͏ Apparel͏͏ Group,͏͏ our͏͏ goal͏͏ goes͏͏ beyond͏͏ expanding͏͏ our͏͏ footprint;͏͏ we͏͏ aim͏͏ to͏͏ create͏͏ pathways͏͏ for͏͏ global͏͏ brands͏͏ to͏͏ seamlessly͏͏ become͏͏ part͏͏ of͏͏ India’s͏͏ retail͏͏ landscape.͏͏ Bringing͏͏ the͏͏ iconic͏͏ Victoria’s͏͏ Secret͏͏ brand͏͏ closer͏͏ to͏͏ our͏͏ customers͏͏ in͏͏ South͏͏ India͏͏ marks͏͏ an͏͏ important͏͏ milestone.͏͏ This͏͏ launch͏͏ reflects͏͏ our͏͏ commitment͏͏ to͏͏ enhancing͏͏ India’s͏͏ retail͏͏ sector͏͏ by͏͏ introducing͏͏ brands͏͏ renowned͏͏ for͏͏ their͏͏ innovation͏͏ and͏͏ exceptional͏͏ products,”͏͏ said͏͏ Tushar͏͏ Ved,͏͏ President͏͏ of͏͏ Apparel͏͏ Group͏͏ India.

Abhishek͏͏ Bajpai,͏͏ CEO͏͏ of͏͏ Apparel͏͏ Group͏͏ India,͏͏ commented,͏͏ “Kochi͏͏ is͏͏ a͏͏ vibrant͏͏ and͏͏ rapidly͏͏ growing͏͏ market,͏͏ making͏͏ it͏͏ the͏͏ perfect͏͏ location͏͏ for͏͏ our͏͏ new͏͏ Victoria’s͏͏ Secret͏͏ store.͏͏ We͏͏ aim͏͏ to͏͏ provide͏͏ customers͏͏ with͏͏ a͏͏ shopping͏͏ experience͏͏ that͏͏ reflects͏͏ the͏͏ city’s͏͏ energy͏͏ and͏͏ diversity,͏͏ combining͏͏ the͏͏ global͏͏ essence͏͏ of͏͏ a͏͏ premium͏͏ brand͏͏ with͏͏ local͏͏ touches.͏͏ This͏͏ expansion͏͏ highlights͏͏ our͏͏ dedication͏͏ to͏͏ reaching͏͏ key͏͏ regions͏͏ across͏͏ India,͏͏ offering͏͏ unmatched͏͏ luxury͏͏ and͏͏ style͏͏ through͏͏ prime͏͏ retail͏͏ locations.”

Reinforcing͏͏ Retail͏͏ Innovation:

The͏͏ new͏͏ store͏͏ in͏͏ LuLu͏͏ Mall,͏͏ one͏͏ of͏͏ Kochi’s͏͏ top͏͏ shopping͏͏ hubs,͏͏ highlights͏͏ Victoria’s͏͏ Secret’s͏͏ expanding͏͏ presence͏͏ in͏͏ the͏͏ region.͏͏ Building͏͏ on͏͏ the͏͏ success͏͏ of͏͏ its͏͏ nine͏͏ other͏͏ stores͏͏ across͏͏ India,͏͏ the͏͏ Kochi͏͏ launch͏͏ reinforces͏͏ the͏͏ brand’s͏͏ drive͏͏ for͏͏ retail͏͏ innovation͏͏ and͏͏ its͏͏ dedication͏͏ to͏͏ offering͏͏ customers͏͏ a͏͏ vibrant,͏͏ cosmopolitan͏͏ shopping͏͏ experience.

By͏͏ expanding͏͏ into͏͏ key͏͏ local͏͏ markets,͏͏ Apparel͏͏ Group͏͏ aims͏͏ to͏͏ enhance͏͏ the͏͏ retail͏͏ experience͏͏ for͏͏ a͏͏ diverse͏͏ range͏͏ of͏͏ consumers,͏͏ fostering͏͏ a͏͏ vibrant͏͏ and͏͏ inclusive͏͏ shopping͏͏ atmosphere.͏͏ These͏͏ strategic͏͏ store͏͏ openings͏͏ highlight͏͏ Apparel͏͏ Group’s͏͏ commitment͏͏ to͏͏ catering͏͏ to͏͏ the͏͏ unique͏͏ preferences͏͏ of͏͏ South͏͏ Indian͏͏ customers͏͏ while͏͏ positioning͏͏ Victoria’s͏͏ Secret͏͏ as͏͏ a͏͏ leader͏͏ in͏͏ the͏͏ premium͏͏ retail͏͏ sector.

Continue͏͏ Exploring:͏͏ Apparel Group partners͏͏ with͏͏ Myntra to͏͏ expand͏͏ Victoria’s Secret presence͏͏ in͏͏ India

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Myntra reports massive shopper surge during Big Fashion Festival sale

By
M Haziq Pandit
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0
Myntra

Myntra‘s Big Fashion Festival launched with strong momentum,͏͏ attracting͏͏ 120͏͏ million͏͏ visitors͏͏ during͏͏ Early͏͏ Access͏͏ and͏͏ the͏͏ first͏͏ day,͏͏ according͏͏ to͏͏ the͏͏ e-commerce platform.

Surge͏͏ in͏͏ New͏͏ User͏͏ Activity:

The͏͏ platform͏͏ experienced͏͏ a͏͏ 15X͏͏ surge͏͏ in͏͏ new͏͏ users͏͏ compared͏͏ to͏͏ regular͏͏ activity,͏͏ along͏͏ with͏͏ a͏͏ 2X͏͏ rise͏͏ in͏͏ orders͏͏ per͏͏ minute͏͏ during͏͏ peak͏͏ hours͏͏ compared͏͏ to͏͏ last͏͏ year.

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

Impressive͏͏ Sales͏͏ Figures:

Myntra͏͏ reported͏͏ strong͏͏ sales͏͏ since͏͏ the͏͏ event’s͏͏ September͏͏ 25͏͏ launch,͏͏ with͏͏ 700͏͏ T-shirts,͏͏ 420͏͏ jeans,͏͏ 330͏͏ pairs͏͏ of͏͏ shoes,͏͏ and͏͏ 100͏͏ lipsticks͏͏ sold͏͏ every͏͏ minute͏͏ during͏͏ the͏͏ first͏͏ hour.

Strong͏͏ Performance͏͏ in͏͏ Core͏͏ and͏͏ Emerging͏͏ Categories:

Core͏͏ fashion͏͏ categories͏͏ remained͏͏ the͏͏ top͏͏ choice,͏͏ while͏͏ emerging͏͏ segments͏͏ like͏͏ Beauty͏͏ &͏͏ Personal͏͏ Care͏͏ and͏͏ Sports͏͏ Footwear͏͏ saw͏͏ over͏͏ 50%͏͏ growth͏͏ in͏͏ sales.͏͏ Additionally,͏͏ Home͏͏ and͏͏ Wearables͏͏ categories͏͏ experienced͏͏ a͏͏ 100%͏͏ surge͏͏ in͏͏ demand͏͏ compared͏͏ to͏͏ the͏͏ same͏͏ period͏͏ last͏͏ year,͏͏ according͏͏ to͏͏ the͏͏ Flipkart͏͏ Group͏͏ company.

Myntra͏͏ reported͏͏ a͏͏ surge͏͏ in͏͏ activity͏͏ on͏͏ its͏͏ Gen-Z͏͏ platform,͏͏ FWD,͏͏ with͏͏ demand͏͏ rising͏͏ 2.6X͏͏ compared͏͏ to͏͏ regular͏͏ usage͏͏ during͏͏ the͏͏ sale.

Myntra’s͏͏ reach͏͏ expanded͏͏ beyond͏͏ metro͏͏ areas,͏͏ with͏͏ around͏͏ 45%͏͏ of͏͏ orders͏͏ originating͏͏ from͏͏ Tier͏͏ 2͏͏ and͏͏ Tier͏͏ 3͏͏ cities.͏͏ Neha͏͏ Wali,͏͏ Head͏͏ of͏͏ Revenue͏͏ at͏͏ Myntra,͏͏ highlighted͏͏ a͏͏ 4X͏͏ increase͏͏ in͏͏ orders͏͏ compared͏͏ to͏͏ regular͏͏ business͏͏ on͏͏ the͏͏ event’s͏͏ first͏͏ day.

Myntra’s͏͏ collaboration͏͏ with͏͏ Kotak͏͏ Bank͏͏ via͏͏ a͏͏ co-branded͏͏ card͏͏ resulted͏͏ in͏͏ an͏͏ 8X͏͏ increase͏͏ in͏͏ transactions͏͏ on͏͏ Day͏͏ 1.

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

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Meesho’s festive season sale sees record orders, nearly doubling last year’s figures

By
M Haziq Pandit
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0
Meesho

E-commerce giant Meesho saw record orders on the first day of its festive season sale, nearly͏͏ doubling͏͏ last͏͏ year’s͏͏ figures͏͏ and͏͏ exceeding͏͏ daily͏͏ orders͏͏ by͏͏ more͏͏ than͏͏ three͏͏ times.

Major͏͏ E-Commerce͏͏ Players͏͏ Launch͏͏ Festive͏͏ Sales:

The͏͏ festive͏͏ season͏͏ sales͏͏ began͏͏ this͏͏ weekend,͏͏ with͏͏ e-commerce͏͏ giants͏͏ Amazon͏͏ and͏͏ Flipkart͏͏ launching͏͏ their͏͏ annual͏͏ sales͏͏ to͏͏ capitalise͏͏ on͏͏ the͏͏ most͏͏ profitable͏͏ period͏͏ for͏͏ online͏͏ shopping.

Meesho͏͏ reported͏͏ nearly͏͏ 6.5͏͏ crore͏͏ unique͏͏ customers͏͏ on͏͏ its͏͏ mobile͏͏ app͏͏ on͏͏ Day͏͏ 1,͏͏ along͏͏ with͏͏ approximately͏͏ 1.5͏͏ crore͏͏ app͏͏ downloads͏͏ prior͏͏ to͏͏ the͏͏ sale.͏͏ Meesho͏͏ Mall͏͏ experienced͏͏ significant͏͏ order͏͏ growth͏͏ compared͏͏ to͏͏ last͏͏ year,͏͏ with͏͏ nearly͏͏ 45%͏͏ of͏͏ these͏͏ orders͏͏ originating͏͏ from͏͏ first-time͏͏ customers.

Continue͏͏ Exploring:͏͏ Meesho partners͏͏ with͏͏ D2C͏͏ brands͏͏ ahead͏͏ of͏͏ festive͏͏ season͏͏ to͏͏ boost͏͏ offerings

“What͏͏ a͏͏ record-breaking͏͏ start͏͏ to͏͏ our͏͏ annual͏͏ Mega͏͏ Blockbuster͏͏ Sale!”͏͏ said͏͏ founder͏͏ Vidit͏͏ Aatrey͏͏ in͏͏ a͏͏ post͏͏ on͏͏ X.͏͏ “On͏͏ behalf͏͏ of͏͏ everyone͏͏ at͏͏ Meesho,͏͏ thank͏͏ you,͏͏ India,͏͏ for͏͏ choosing͏͏ us͏͏ as͏͏ your͏͏ preferred͏͏ online͏͏ shopping͏͏ destination!͏͏ This͏͏ is͏͏ just͏͏ the͏͏ beginning,͏͏ and͏͏ we’re͏͏ thrilled͏͏ to͏͏ set͏͏ even͏͏ more͏͏ records͏͏ together͏͏ this͏͏ festive͏͏ sale͏͏ season.”

Amazon’s͏͏ Great͏͏ Indian͏͏ Festival͏͏ and͏͏ Flipkart’s͏͏ Big͏͏ Billion͏͏ Days͏͏ are͏͏ currently͏͏ in͏͏ progress.͏͏ Festive͏͏ season͏͏ sales͏͏ are͏͏ critical͏͏ for͏͏ e-commerce͏͏ platforms͏͏ regarding͏͏ sales͏͏ performance.͏͏ To͏͏ prepare,͏͏ these͏͏ platforms͏͏ invest͏͏ significantly͏͏ in͏͏ advance͏͏ to͏͏ enhance͏͏ capacity͏͏ and͏͏ introduce͏͏ new͏͏ features.͏͏ Typically,͏͏ e-commerce͏͏ platforms͏͏ experience͏͏ a͏͏ surge͏͏ in͏͏ demand͏͏ for͏͏ high-value͏͏ items͏͏ across͏͏ various͏͏ categories,͏͏ including͏͏ premium͏͏ smartphones,͏͏ electronics,͏͏ appliances,͏͏ and͏͏ fashion͏͏ during͏͏ these͏͏ events.

Quick͏͏ Commerce͏͏ Platforms͏͏ Enter͏͏ the͏͏ Festive͏͏ Shopping͏͏ Arena:

This͏͏ year,͏͏ quick͏͏ commerce͏͏ platforms͏͏ such͏͏ as͏͏ Blinkit,͏͏ owned͏͏ by͏͏ Zepto,͏͏ Instamart,͏͏ and͏͏ Mumbai-based͏͏ Zepto͏͏ will͏͏ also͏͏ join͏͏ the͏͏ festive͏͏ rush,͏͏ aiming͏͏ to͏͏ capture͏͏ a͏͏ larger͏͏ market͏͏ share.

A͏͏ survey͏͏ conducted͏͏ by͏͏ Ipsos͏͏ Research,͏͏ commissioned͏͏ by͏͏ Amazon͏͏ India,͏͏ found͏͏ that͏͏ nearly͏͏ 71%͏͏ of͏͏ Indians͏͏ plan͏͏ to͏͏ shop͏͏ online͏͏ this͏͏ festive͏͏ season.͏͏ This͏͏ reflects͏͏ an͏͏ increase͏͏ in͏͏ consumer͏͏ confidence,͏͏ with͏͏ almost͏͏ 50%͏͏ of͏͏ respondents͏͏ intending͏͏ to͏͏ spend͏͏ more͏͏ on͏͏ festive͏͏ shopping͏͏ this͏͏ year͏͏ compared͏͏ to͏͏ last.

Continue͏͏ Exploring:͏͏ 60%͏͏ of͏͏ consumers͏͏ plan͏͏ to͏͏ boost͏͏ online͏͏ shopping͏͏ budgets͏͏ this͏͏ festive͏͏ season:͏͏ Meesho Survey

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