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Coca-Cola and Bacardi to launch co-branded ready-to-drink cocktail in 2025

By
M Haziq Pandit
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0
Coca-Cola Bacardi

Coca-Cola and Bacardi are planning to introduce a co-branded ready-to-drink cocktail next year,͏͏ building͏͏ on͏͏ Coca-Cola’s͏͏ recent͏͏ collaboration͏͏ with͏͏ Brown-Forman͏͏ for͏͏ Jack͏͏ Daniel‘s.

Market͏͏ Focus:

The͏͏ Bacardi͏͏ Mixed͏͏ with͏͏ Coca-Cola͏͏ cocktail͏͏ will͏͏ first͏͏ be͏͏ launched͏͏ in͏͏ Mexico͏͏ and͏͏ select͏͏ European͏͏ markets͏͏ in͏͏ 2025.

The͏͏ companies͏͏ stated͏͏ that͏͏ the͏͏ “global͏͏ benchmark”͏͏ for͏͏ the͏͏ new͏͏ drink’s͏͏ alcohol͏͏ by͏͏ volume͏͏ (ABV)͏͏ is͏͏ set͏͏ at͏͏ 5%,͏͏ although͏͏ it͏͏ will͏͏ differ͏͏ by͏͏ market.͏͏ The͏͏ promotional͏͏ launch͏͏ features͏͏ packaging͏͏ that͏͏ indicates͏͏ an͏͏ ABV͏͏ of͏͏ 5.9%.

Coca-Cola͏͏ Co.͏͏ chairman͏͏ and͏͏ CEO͏͏ James͏͏ Quincey͏͏ stated,͏͏ “We͏͏ are͏͏ committed͏͏ to͏͏ expanding͏͏ our͏͏ portfolio͏͏ as͏͏ a͏͏ total͏͏ beverage͏͏ company,͏͏ particularly͏͏ in͏͏ the͏͏ growing͏͏ alcohol͏͏ RTD͏͏ market.͏͏ Our͏͏ new͏͏ partnership͏͏ with͏͏ Bacardi͏͏ Limited͏͏ aligns͏͏ with͏͏ our͏͏ strategic͏͏ expansion͏͏ goals.”

Bacardi͏͏ CEO͏͏ Mahesh͏͏ Madhavan͏͏ remarked,͏͏ “This͏͏ partnership͏͏ will͏͏ enhance͏͏ our͏͏ reach͏͏ and͏͏ accessibility,͏͏ allowing͏͏ even͏͏ more͏͏ legal͏͏ drinking͏͏ age͏͏ consumers͏͏ to͏͏ enjoy͏͏ the͏͏ classic͏͏ Bacardi͏͏ rum͏͏ and͏͏ Coca-Cola͏͏ cocktail.”

Continue͏͏ Exploring:͏͏ Coca-Cola’s͏͏ Minute͏͏ Maid͏͏ diversifies͏͏ portfolio:͏͏ Enters͏͏ alcohol͏͏ market͏͏ with͏͏ innovative͏͏ cocktails

Previous͏͏ Collaborations:

In͏͏ 2022,͏͏ Coca-Cola͏͏ partnered͏͏ with͏͏ Brown-Forman͏͏ to͏͏ create͏͏ a͏͏ cocktail͏͏ featuring͏͏ Jack͏͏ Daniel’s͏͏ Tennessee͏͏ Whiskey͏͏ and͏͏ Coca-Cola.

That͏͏ agreement͏͏ marked͏͏ the͏͏ first͏͏ collaboration͏͏ between͏͏ the͏͏ two͏͏ companies͏͏ on͏͏ a͏͏ product,͏͏ even͏͏ though͏͏ Brown-Forman͏͏ had͏͏ previously͏͏ launched͏͏ pre-mixed͏͏ Jack͏͏ Daniel’s͏͏ and͏͏ Cola͏͏ RTDs,͏͏ which͏͏ have͏͏ since͏͏ been͏͏ discontinued.

Last͏͏ year,͏͏ Coca-Cola͏͏ unveiled͏͏ a͏͏ co-branded͏͏ ready-to-drink͏͏ cocktail͏͏ in͏͏ collaboration͏͏ with͏͏ Pernod͏͏ Ricard,͏͏ introducing͏͏ the͏͏ vodka-based͏͏ Absolut͏͏ &͏͏ Sprite.

Before͏͏ partnering͏͏ with͏͏ Brown-Forman,͏͏ Coca-Cola͏͏ collaborated͏͏ with͏͏ Molson͏͏ Coors͏͏ to͏͏ introduce͏͏ Topo͏͏ Chico͏͏ Hard͏͏ Seltzer͏͏ and͏͏ experimented͏͏ with͏͏ alcoholic͏͏ soft͏͏ drinks,͏͏ including͏͏ a͏͏ hard͏͏ lemonade͏͏ in͏͏ Japan.

However,͏͏ it͏͏ had͏͏ not͏͏ incorporated͏͏ the͏͏ Coca-Cola͏͏ brand͏͏ into͏͏ an͏͏ alcoholic͏͏ product͏͏ until͏͏ its͏͏ partnership͏͏ with͏͏ Brown-Forman.

When͏͏ the͏͏ partnership͏͏ was͏͏ initially͏͏ announced͏͏ in͏͏ 2022,͏͏ Ricard͏͏ Woodard͏͏ highlighted͏͏ that͏͏ it͏͏ signified͏͏ a͏͏ change͏͏ in͏͏ Coca-Cola’s͏͏ approach͏͏ to͏͏ alcohol,͏͏ particularly͏͏ given͏͏ that͏͏ the͏͏ company͏͏ has͏͏ millions͏͏ of͏͏ sub-LDA͏͏ consumers͏͏ among͏͏ its͏͏ most͏͏ loyal͏͏ customers.

“Historically͏͏ hesitant͏͏ to͏͏ engage͏͏ in͏͏ the͏͏ alcohol͏͏ sector,͏͏ Coca-Cola͏͏ has,͏͏ under͏͏ current͏͏ CEO͏͏ James͏͏ Quincey,͏͏ ventured͏͏ more͏͏ into͏͏ this͏͏ complex͏͏ market͏͏ with͏͏ products͏͏ like͏͏ Topo͏͏ Chico͏͏ hard͏͏ seltzer͏͏ and͏͏ alcoholic͏͏ extensions͏͏ of͏͏ its͏͏ Simply͏͏ and͏͏ Fresca͏͏ brands,”͏͏ wrote͏͏ Woodard.

“This͏͏ venture͏͏ is͏͏ taking͏͏ place͏͏ at͏͏ a͏͏ time͏͏ that͏͏ highlights͏͏ the͏͏ rapid͏͏ and͏͏ significant͏͏ transformations͏͏ occurring͏͏ within͏͏ the͏͏ expansive͏͏ RTD͏͏ category.͏͏ Once͏͏ viewed͏͏ in͏͏ many͏͏ Western͏͏ markets͏͏ as͏͏ a͏͏ low-margin͏͏ entry͏͏ point͏͏ into͏͏ beverage͏͏ alcohol,͏͏ it͏͏ has͏͏ evolved͏͏ into͏͏ a͏͏ highly͏͏ diverse͏͏ space͏͏ that͏͏ includes͏͏ everything͏͏ from͏͏ hard͏͏ seltzers͏͏ and͏͏ premium͏͏ premixed͏͏ cocktails͏͏ to͏͏ reinvented͏͏ alcopops,͏͏ as͏͏ well͏͏ as͏͏ hard͏͏ teas,͏͏ coffees,͏͏ and͏͏ kombuchas.”

Continue͏͏ Exploring:͏͏ Bacardi India͏͏ intensifies͏͏ focus͏͏ on͏͏ premiumization͏͏ as͏͏ demand͏͏ for͏͏ high-end͏͏ spirits͏͏ surges

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Festive season boosts gold and silver prices, experts predict further increases

By
M Haziq Pandit
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0
gold and silver

Gold and silver prices are rising due to strong demand, and this momentum is expected to continue throughout the festival season.

In͏͏ the͏͏ current͏͏ financial͏͏ year,͏͏ gold͏͏ prices͏͏ have͏͏ increased͏͏ by͏͏ nearly͏͏ 10͏͏ percent,͏͏ while͏͏ silver͏͏ prices͏͏ have͏͏ risen͏͏ by͏͏ approximately͏͏ 24͏͏ percent.

“From͏͏ an͏͏ Indian͏͏ perspective,͏͏ the͏͏ customs͏͏ duty͏͏ cut͏͏ in͏͏ July͏͏ has͏͏ significantly͏͏ boosted͏͏ gold͏͏ consumption͏͏ and͏͏ will͏͏ continue͏͏ to͏͏ do͏͏ so.͏͏ We͏͏ anticipate͏͏ a͏͏ strong͏͏ performance͏͏ in͏͏ the͏͏ October-December͏͏ quarter.͏͏ It’s͏͏ an͏͏ opportune͏͏ time͏͏ for͏͏ gold,”͏͏ said͏͏ Sachin͏͏ Jain,͏͏ Regional͏͏ CEO,͏͏ India,͏͏ World͏͏ Gold͏͏ Council,͏͏ in͏͏ a͏͏ phone͏͏ interview.

Ajay͏͏ Kedia,͏͏ head͏͏ of͏͏ Mumbai-based͏͏ Kedia͏͏ Advisory,͏͏ expects͏͏ gold͏͏ futures͏͏ prices͏͏ to͏͏ rise͏͏ to͏͏ INR͏͏ 77,000͏͏ in͏͏ the͏͏ near͏͏ term.

Gold Nears͏͏ All-Time͏͏ Highs:

Gold͏͏ prices͏͏ are͏͏ currently͏͏ approximately͏͏ INR͏͏ 75,000͏͏ per͏͏ 10͏͏ grams,͏͏ slightly͏͏ below͏͏ the͏͏ all-time͏͏ high͏͏ of͏͏ around͏͏ INR͏͏ 75,400.͏͏ At͏͏ the͏͏ beginning͏͏ of͏͏ the͏͏ financial͏͏ year,͏͏ prices͏͏ were͏͏ around͏͏ INR͏͏ 68,700.

“For͏͏ a͏͏ rally͏͏ to͏͏ occur,͏͏ a͏͏ price͏͏ correction͏͏ is͏͏ necessary,͏͏ and͏͏ we’re͏͏ currently͏͏ witnessing͏͏ that.͏͏ Factors͏͏ such͏͏ as͏͏ ETF͏͏ purchases,͏͏ central͏͏ bank͏͏ buying,͏͏ and͏͏ geopolitical͏͏ tensions͏͏ all͏͏ support͏͏ a͏͏ bullish͏͏ outlook͏͏ for͏͏ gold,”͏͏ said͏͏ Ajay͏͏ Kedia.

Continue͏͏ Exploring:͏͏ Gold jewellery͏͏ demand͏͏ set͏͏ to͏͏ rise͏͏ with͏͏ 18%͏͏ volume͏͏ growth͏͏ anticipated,͏͏ says͏͏ Nuvama͏͏ Report

Silver Prices͏͏ to͏͏ Reach͏͏ INR͏͏ 100,000:

Kedia͏͏ predicts͏͏ that͏͏ silver͏͏ prices͏͏ will͏͏ reach͏͏ INR͏͏ 100,000͏͏ per͏͏ kg͏͏ in͏͏ the͏͏ near͏͏ to͏͏ mid-term.

“Industrial͏͏ demand͏͏ for͏͏ silver͏͏ is͏͏ rising,͏͏ particularly͏͏ for͏͏ electric͏͏ vehicles͏͏ and͏͏ solar͏͏ panels.͏͏ Although͏͏ silver͏͏ prices͏͏ struggled͏͏ to͏͏ gain͏͏ traction͏͏ due͏͏ to͏͏ recession͏͏ fears͏͏ in͏͏ some͏͏ countries,͏͏ we͏͏ have͏͏ seen͏͏ significant͏͏ outperformance͏͏ in͏͏ silver͏͏ over͏͏ the͏͏ past͏͏ few͏͏ months,”͏͏ Kedia͏͏ stated.

Silver͏͏ prices͏͏ are͏͏ currently͏͏ approximately͏͏ INR͏͏ 93,000͏͏ per͏͏ kg,͏͏ compared͏͏ to͏͏ INR͏͏ 75,000͏͏ at͏͏ the͏͏ beginning͏͏ of͏͏ the͏͏ current͏͏ financial͏͏ year.

Manoj͏͏ Kumar͏͏ Jain,͏͏ Director͏͏ and͏͏ Head͏͏ of͏͏ Commodity͏͏ and͏͏ Currency͏͏ Research͏͏ at͏͏ Prithvi͏͏ Finmart,͏͏ expects͏͏ gold͏͏ futures͏͏ to͏͏ reach͏͏ INR͏͏ 77,000͏͏ and͏͏ silver͏͏ to͏͏ hit͏͏ INR͏͏ 96,000͏͏ in͏͏ the͏͏ near͏͏ term.

“The͏͏ usual͏͏ market͏͏ fundamentals͏͏ are͏͏ not͏͏ in͏͏ play,͏͏ and͏͏ the͏͏ current͏͏ bull͏͏ run͏͏ is͏͏ driven͏͏ by͏͏ post-Covid͏͏ gold͏͏ purchases͏͏ by͏͏ central͏͏ banks͏͏ as͏͏ part͏͏ of͏͏ de-dollarisation,͏͏ along͏͏ with͏͏ increased͏͏ geopolitical͏͏ tensions͏͏ and͏͏ rate͏͏ cuts͏͏ by͏͏ various͏͏ central͏͏ banks.͏͏ Lower͏͏ interest͏͏ rates͏͏ are͏͏ also͏͏ beneficial͏͏ for͏͏ gold͏͏ and͏͏ other͏͏ commodities,”͏͏ Jain͏͏ stated.

International͏͏ gold͏͏ prices͏͏ have͏͏ experienced͏͏ an͏͏ “extraordinary”͏͏ increase͏͏ of͏͏ approximately͏͏ 40͏͏ percent͏͏ this͏͏ year,͏͏ compared͏͏ to͏͏ the͏͏ usual͏͏ average͏͏ of͏͏ around͏͏ 10͏͏ percent,͏͏ Jain͏͏ noted.

Colin͏͏ Shah,͏͏ MD͏͏ of͏͏ Kama͏͏ Jewelry͏͏ and͏͏ former͏͏ Vice͏͏ Chairman͏͏ of͏͏ the͏͏ Gem͏͏ and͏͏ Jewellery͏͏ Export͏͏ Promotion͏͏ Council͏͏ (GJEPC),͏͏ stated͏͏ that͏͏ gold͏͏ demand͏͏ is͏͏ anticipated͏͏ to͏͏ remain͏͏ strong͏͏ with͏͏ the͏͏ arrival͏͏ of͏͏ the͏͏ festive͏͏ season.

“The͏͏ primary͏͏ factors͏͏ contributing͏͏ to͏͏ gold’s͏͏ outstanding͏͏ performance͏͏ are͏͏ the͏͏ onset͏͏ of͏͏ a͏͏ rate͏͏ cut͏͏ cycle͏͏ in͏͏ the͏͏ US͏͏ and͏͏ the͏͏ strong͏͏ expectations͏͏ for͏͏ additional͏͏ rate͏͏ cuts͏͏ in͏͏ the͏͏ upcoming͏͏ meetings.͏͏ Geopolitical͏͏ tensions͏͏ between͏͏ Israel͏͏ and͏͏ Lebanon͏͏ are͏͏ also͏͏ driving͏͏ gold͏͏ prices͏͏ higher,”͏͏ Shah͏͏ said.

International͏͏ gold͏͏ prices͏͏ are͏͏ currently͏͏ approaching͏͏ USD͏͏ 2,700͏͏ per͏͏ ounce,͏͏ and͏͏ Shah͏͏ anticipates͏͏ they͏͏ may͏͏ reach͏͏ USD͏͏ 3,000.͏͏ In͏͏ the͏͏ domestic͏͏ market,͏͏ he͏͏ expects͏͏ prices͏͏ to͏͏ surpass͏͏ INR͏͏ 78,000͏͏ in͏͏ the͏͏ medium͏͏ to͏͏ long͏͏ term.

Pranav͏͏ Mer,͏͏ Vice͏͏ President͏͏ of͏͏ Commodity͏͏ and͏͏ Currency͏͏ Research͏͏ at͏͏ JM͏͏ Financial͏͏ Services͏͏ Ltd,͏͏ echoed͏͏ this͏͏ sentiment.͏͏ He͏͏ stated͏͏ that͏͏ bullion͏͏ is͏͏ expected͏͏ to͏͏ remain͏͏ bolstered͏͏ by͏͏ safe-haven͏͏ demand͏͏ and͏͏ purchases͏͏ from͏͏ ETF͏͏ investors.

“On͏͏ the͏͏ chart,͏͏ the͏͏ trend͏͏ remains͏͏ positive͏͏ as͏͏ long͏͏ as͏͏ support͏͏ at͏͏ 75,850/75,500͏͏ holds,͏͏ while͏͏ resistance͏͏ is͏͏ noted͏͏ at͏͏ 76,550͏͏ for͏͏ December͏͏ futures,”͏͏ Mer͏͏ added.

Continue͏͏ Exploring:͏͏ Jewellery͏͏ stores͏͏ see͏͏ gold rush͏͏ as͏͏ customs͏͏ duty͏͏ cut͏͏ spurs͏͏ buying͏͏ frenzy

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NCLT slams Dunzo for lack of progress in settling creditor disputes

By
M Haziq Pandit
-
0
Dunzo

Reliance Retail-backed hyperlocal delivery startup Dunzo has come under scrutiny from the National Company Law Tribunal (NCLT) for failing to reach a settlement with its creditors.

The͏͏ Bengaluru͏͏ bench͏͏ of͏͏ the͏͏ NCLT͏͏ noted͏͏ today͏͏ (September͏͏ 27)͏͏ that͏͏ despite͏͏ being͏͏ granted͏͏ three͏͏ months͏͏ to͏͏ resolve͏͏ its͏͏ dispute͏͏ with͏͏ creditors,͏͏ Dunzo͏͏ has͏͏ yet͏͏ to͏͏ reach͏͏ a͏͏ settlement,͏͏ according͏͏ to͏͏ Mint.

The͏͏ tribunal͏͏ asserted͏͏ that͏͏ Dunzo͏͏ had͏͏ “enough͏͏ time”͏͏ to͏͏ settle͏͏ with͏͏ its͏͏ creditors͏͏ and͏͏ declined͏͏ to͏͏ hear͏͏ the͏͏ company’s͏͏ objections͏͏ to͏͏ the͏͏ insolvency͏͏ cases͏͏ filed͏͏ against͏͏ it.͏͏ The͏͏ NCLT͏͏ has͏͏ reportedly͏͏ instructed͏͏ Dunzo͏͏ to͏͏ submit͏͏ an͏͏ interlocutory͏͏ application͏͏ if͏͏ it͏͏ wishes͏͏ for͏͏ its͏͏ objections͏͏ to͏͏ be͏͏ considered.

Two͏͏ of͏͏ Dunzo’s͏͏ creditors,͏͏ Invoice͏͏ Discounters͏͏ of͏͏ Dunzo͏͏ Digital͏͏ and͏͏ Velvin͏͏ Packaging,͏͏ had͏͏ earlier͏͏ approached͏͏ the͏͏ NCLT͏͏ to͏͏ initiate͏͏ insolvency͏͏ proceedings͏͏ against͏͏ the͏͏ company͏͏ due͏͏ to͏͏ outstanding͏͏ payments.

In͏͏ January,͏͏ Invoice͏͏ Discounters͏͏ of͏͏ Dunzo͏͏ Digital͏͏ submitted͏͏ an͏͏ application͏͏ to͏͏ the͏͏ NCLT,͏͏ claiming͏͏ that͏͏ the͏͏ startup͏͏ had͏͏ paid͏͏ only͏͏ 50%͏͏ of͏͏ the͏͏ outstanding͏͏ amount.͏͏ The͏͏ exact͏͏ debt͏͏ Dunzo͏͏ owes͏͏ its͏͏ creditors͏͏ remains͏͏ unclear.

This͏͏ development͏͏ comes͏͏ as͏͏ Dunzo͏͏ grapples͏͏ with͏͏ significant͏͏ challenges,͏͏ including͏͏ a͏͏ severe͏͏ cash͏͏ crunch,͏͏ layoffs,͏͏ and͏͏ the͏͏ threat͏͏ of͏͏ bankruptcy.͏͏ Last͏͏ month,͏͏ reports͏͏ indicated͏͏ that͏͏ the͏͏ Bengaluru-based͏͏ startup͏͏ had͏͏ laid͏͏ off͏͏ 150͏͏ employees͏͏ across͏͏ its͏͏ supply͏͏ and͏͏ market͏͏ verticals͏͏ as͏͏ part͏͏ of͏͏ its͏͏ cost-cutting͏͏ measures.

Continue͏͏ Exploring:͏͏ Cash-strapped͏͏ Dunzo hit͏͏ with͏͏ fresh͏͏ legal͏͏ trouble͏͏ as͏͏ another͏͏ creditor͏͏ seeks͏͏ insolvency

Dunzo’s͏͏ Losses͏͏ Soar͏͏ to͏͏ INR͏͏ 1,801͏͏ Cr:

Dunzo’s͏͏ losses͏͏ surged͏͏ over͏͏ threefold͏͏ to͏͏ INR͏͏ 1,801͏͏ Cr͏͏ in͏͏ FY23,͏͏ up͏͏ from͏͏ INR͏͏ 464͏͏ Cr͏͏ in͏͏ the͏͏ previous͏͏ fiscal.͏͏ The͏͏ financial͏͏ strain͏͏ led͏͏ to͏͏ delays͏͏ in͏͏ salary͏͏ disbursements͏͏ for͏͏ current͏͏ and͏͏ former͏͏ employees,͏͏ along͏͏ with͏͏ unpaid͏͏ dues͏͏ to͏͏ vendors.

Founded͏͏ in͏͏ 2015͏͏ by͏͏ Kabeer͏͏ Biswas,͏͏ Suri,͏͏ Mukund͏͏ Jha,͏͏ and͏͏ Ankur͏͏ Aggarwal,͏͏ Dunzo͏͏ links͏͏ consumers͏͏ to͏͏ local͏͏ stores,͏͏ offering͏͏ delivery͏͏ services͏͏ for͏͏ groceries,͏͏ medicines,͏͏ food,͏͏ and͏͏ other͏͏ daily͏͏ essentials.͏͏ Its͏͏ entry͏͏ into͏͏ the͏͏ quick͏͏ commerce͏͏ sector͏͏ with͏͏ Dunzo͏͏ Daily͏͏ significantly͏͏ accelerated͏͏ its͏͏ cash͏͏ burn.

Earlier͏͏ this͏͏ year,͏͏ the͏͏ NCLT͏͏ cautioned͏͏ Dunzo͏͏ that͏͏ it͏͏ would͏͏ enforce͏͏ a͏͏ moratorium͏͏ on͏͏ the͏͏ hyperlocal͏͏ delivery͏͏ platform͏͏ if͏͏ it͏͏ did͏͏ not͏͏ swiftly͏͏ respond͏͏ to͏͏ a͏͏ notice͏͏ regarding͏͏ unpaid͏͏ dues͏͏ of͏͏ INR͏͏ 4͏͏ Cr͏͏ owed͏͏ to͏͏ Betterplace͏͏ Safety͏͏ Solutions.

Dunzo,͏͏ grappling͏͏ with͏͏ a͏͏ major͏͏ cash͏͏ shortage,͏͏ has͏͏ been͏͏ served͏͏ with͏͏ numerous͏͏ legal͏͏ notices͏͏ from͏͏ vendors͏͏ demanding͏͏ payment͏͏ for͏͏ unpaid͏͏ dues,͏͏ further͏͏ complicating͏͏ its͏͏ efforts͏͏ to͏͏ sustain͏͏ operations.

Last͏͏ year,͏͏ Dunzo͏͏ was͏͏ issued͏͏ legal͏͏ notices͏͏ from͏͏ Google͏͏ India,͏͏ Nilenso,͏͏ Clover͏͏ Ventures,͏͏ Facebook͏͏ India͏͏ Online͏͏ Services͏͏ Private͏͏ Limited͏͏ (FBI),͏͏ Cupshup,͏͏ Koo,͏͏ and͏͏ Glance͏͏ over͏͏ unpaid͏͏ dues,͏͏ which͏͏ total͏͏ approximately͏͏ INR͏͏ 11.4͏͏ Cr.

Cofounder͏͏ Pursues͏͏ New͏͏ Funding͏͏ Opportunities:

As͏͏ Dunzo͏͏ faces͏͏ insolvency͏͏ proceedings,͏͏ cofounder͏͏ and͏͏ former͏͏ chief͏͏ technology͏͏ officer͏͏ Mukund͏͏ Jha͏͏ is͏͏ reportedly͏͏ in͏͏ discussions͏͏ with͏͏ Together͏͏ Fund͏͏ to͏͏ secure͏͏ INR͏͏ 50͏͏ Cr͏͏ to͏͏ INR͏͏ 80͏͏ Cr͏͏ in͏͏ funding͏͏ for͏͏ his͏͏ new͏͏ venture,͏͏ GenAI.

Continue͏͏ Exploring:͏͏ NCLT grants͏͏ Dunzo two-week͏͏ extension͏͏ to͏͏ settle͏͏ dues͏͏ with͏͏ Betterplace

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Mul Secrets launches Gut Detox Drink to boost digestion and skin health

By
M Haziq Pandit
-
0
Mul Secrets

Mul Secrets has launched its Gut Detox Drink, the brand’s latest addition to its wellness range. Crafted͏͏ with͏͏ a͏͏ focus͏͏ on͏͏ gut health,͏͏ this͏͏ refreshing,͏͏ nutrient-packed͏͏ beverage͏͏ aims͏͏ to͏͏ support͏͏ digestion͏͏ and͏͏ enhance͏͏ skin͏͏ radiance.

Nutrient-Rich͏͏ Superfood͏͏ Blend:

With͏͏ an͏͏ enhanced͏͏ formulation,͏͏ the͏͏ Gut͏͏ Detox͏͏ Drink͏͏ delivers͏͏ a͏͏ potent͏͏ mix͏͏ of͏͏ prebiotics͏͏ and͏͏ superfoods͏͏ aimed͏͏ at͏͏ promoting͏͏ digestive͏͏ health.͏͏ Key͏͏ ingredients͏͏ like͏͏ amla,͏͏ apple͏͏ peel,͏͏ harad,͏͏ raw͏͏ turmeric,͏͏ and͏͏ sun͏͏ fiber͏͏ are͏͏ specifically͏͏ chosen͏͏ to͏͏ tackle͏͏ common͏͏ issues͏͏ such͏͏ as͏͏ gas,͏͏ acidity,͏͏ bloating,͏͏ constipation,͏͏ and͏͏ indigestion.͏͏ Additionally,͏͏ the͏͏ drink͏͏ addresses͏͏ skin͏͏ concerns͏͏ like͏͏ acne,͏͏ which͏͏ the͏͏ brand͏͏ links͏͏ to͏͏ poor͏͏ gut͏͏ health.

In͏͏ line͏͏ with͏͏ Mul͏͏ Secrets’͏͏ philosophy,͏͏ the͏͏ Gut͏͏ Detox͏͏ Drink͏͏ is͏͏ formulated͏͏ based͏͏ on͏͏ the͏͏ GUT-SKIN͏͏ Axis,͏͏ a͏͏ concept͏͏ the͏͏ brand͏͏ considers͏͏ essential͏͏ for͏͏ holistic͏͏ health.͏͏ The͏͏ company͏͏ emphasizes,͏͏ “Your͏͏ skin͏͏ health͏͏ is͏͏ a͏͏ reflection͏͏ of͏͏ your͏͏ gut͏͏ health,”͏͏ highlighting͏͏ the͏͏ crucial͏͏ role͏͏ of͏͏ internal͏͏ cleansing͏͏ in͏͏ achieving͏͏ external͏͏ benefits.

Continue͏͏ Exploring:͏͏ Luxury͏͏ skincare brand͏͏ No.9͏͏ launches͏͏ advanced͏͏ Anti-Aging͏͏ Vitamin͏͏ C͏͏ Serum͏͏ in͏͏ India

Puja,͏͏ Founder͏͏ of͏͏ Mul͏͏ Secrets,͏͏ stated,͏͏ “Skincare͏͏ is͏͏ a͏͏ holistic͏͏ journey͏͏ that͏͏ requires͏͏ both͏͏ external͏͏ care͏͏ and͏͏ internal͏͏ nourishment.͏͏ It’s͏͏ not͏͏ just͏͏ about͏͏ what͏͏ you͏͏ apply͏͏ to͏͏ your͏͏ skin͏͏ but͏͏ also͏͏ about͏͏ what͏͏ you͏͏ consume͏͏ and͏͏ how͏͏ you͏͏ support͏͏ your͏͏ body͏͏ from͏͏ within.͏͏ Your͏͏ diet͏͏ plays͏͏ a͏͏ significant͏͏ role͏͏ in͏͏ skin͏͏ health,͏͏ as͏͏ your͏͏ skin͏͏ needs͏͏ proper͏͏ nutrition͏͏ too.͏͏ Poor͏͏ gut͏͏ health͏͏ can͏͏ lead͏͏ to͏͏ accelerated͏͏ aging͏͏ and͏͏ acne͏͏ breakouts.͏͏ Our͏͏ Gut͏͏ Detox͏͏ Drink͏͏ embodies͏͏ the͏͏ Gut-Skin͏͏ connection͏͏ we͏͏ advocate,͏͏ and͏͏ I͏͏ am͏͏ excited͏͏ about͏͏ its͏͏ launch.”

Mul Secrets’͏͏ Holistic͏͏ Approach͏͏ to͏͏ Detox:

This͏͏ drink͏͏ is͏͏ designed͏͏ to͏͏ metabolise͏͏ and͏͏ eliminate͏͏ toxins,͏͏ helping͏͏ to͏͏ regulate͏͏ pH͏͏ levels,͏͏ support͏͏ bile͏͏ production͏͏ for͏͏ digestion,͏͏ and͏͏ filter͏͏ airborne͏͏ toxins͏͏ while͏͏ fighting͏͏ acne-causing͏͏ bacteria.͏͏ The͏͏ Gut͏͏ Detox͏͏ Drink͏͏ from͏͏ Mul͏͏ Secrets͏͏ aims͏͏ to͏͏ be͏͏ more͏͏ than͏͏ just͏͏ a͏͏ beverage—it͏͏ serves͏͏ as͏͏ a͏͏ holistic͏͏ tool͏͏ for͏͏ enhancing͏͏ well-being͏͏ from͏͏ the͏͏ inside͏͏ out.

Continue͏͏ Exploring:͏͏ The͏͏ Good͏͏ Bug͏͏ secures͏͏ $3.5͏͏ Million͏͏ in͏͏ Series͏͏ A͏͏ funding͏͏ to͏͏ transform͏͏ gut health in͏͏ India

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Peter England strengthens retail presence in Nepal with new store

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M Haziq Pandit
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Peter England

Peter England, a prominent menswear brand under Aditya Birla Fashion and Retail Ltd, has broadened its retail presence by opening a new flagship store in Kathmandu, Nepal. This͏͏ expansion͏͏ reflects͏͏ the͏͏ brand’s͏͏ dedication͏͏ to͏͏ providing͏͏ high-quality͏͏ lifestyle͏͏ products͏͏ in͏͏ emerging͏͏ markets.͏͏ The͏͏ store͏͏ was͏͏ inaugurated͏͏ by͏͏ Nepalese͏͏ actor͏͏ Ayushman͏͏ Joshi͏͏ and͏͏ aims͏͏ to͏͏ strengthen͏͏ Peter͏͏ England’s͏͏ regional͏͏ footprint͏͏ by͏͏ meeting͏͏ the͏͏ rising͏͏ demand͏͏ for͏͏ premium͏͏ menswear.

Peter England Offers͏͏ a͏͏ Diverse͏͏ Range͏͏ of͏͏ Men’s͏͏ Fashion:

Established͏͏ in͏͏ 1889,͏͏ Peter͏͏ England͏͏ has͏͏ evolved͏͏ into͏͏ India’s͏͏ largest͏͏ menswear͏͏ brand.͏͏ The͏͏ new͏͏ 750͏͏ sq͏͏ ft͏͏ store͏͏ in͏͏ Kumaripati,͏͏ Kathmandu,͏͏ showcases͏͏ an͏͏ extensive͏͏ selection͏͏ of͏͏ men’s͏͏ clothing,͏͏ including͏͏ shirts,͏͏ trousers,͏͏ t-shirts,͏͏ suits,͏͏ and͏͏ accessories͏͏ such͏͏ as͏͏ belts͏͏ and͏͏ ties.͏͏ It͏͏ also͏͏ features͏͏ the͏͏ brand’s͏͏ latest͏͏ Yacht͏͏ Club͏͏ collection,͏͏ tailored͏͏ to͏͏ cater͏͏ to͏͏ contemporary͏͏ fashion͏͏ requirements͏͏ for͏͏ both͏͏ formal͏͏ and͏͏ casual͏͏ attire.

Continue͏͏ Exploring:͏͏ Organised͏͏ apparel͏͏ retailers͏͏ to͏͏ clock͏͏ 8-10%͏͏ revenue͏͏ growth͏͏ this͏͏ fiscal͏͏ year

Anil͏͏ S͏͏ Kumar,͏͏ Chief͏͏ Operating͏͏ Officer͏͏ at͏͏ Peter͏͏ England,͏͏ remarked,͏͏ “We͏͏ are͏͏ excited͏͏ to͏͏ strengthen͏͏ our͏͏ presence͏͏ in͏͏ Nepal͏͏ with͏͏ the͏͏ opening͏͏ of͏͏ our͏͏ third͏͏ store͏͏ in͏͏ Kathmandu.͏͏ Peter͏͏ England͏͏ represents͏͏ trust,͏͏ quality,͏͏ and͏͏ affordability,͏͏ and͏͏ we͏͏ are͏͏ committed͏͏ to͏͏ delivering͏͏ an͏͏ improved͏͏ shopping͏͏ experience͏͏ for͏͏ our͏͏ customers.͏͏ Our͏͏ collaboration͏͏ with͏͏ Pacific͏͏ Business͏͏ Private͏͏ Limited͏͏ has͏͏ been͏͏ instrumental͏͏ to͏͏ our͏͏ success͏͏ in͏͏ this͏͏ market.”

Bipin͏͏ Kumar͏͏ Agarwal,͏͏ Director͏͏ of͏͏ Pacific͏͏ Business͏͏ Private͏͏ Limited,͏͏ highlighted͏͏ the͏͏ importance͏͏ of͏͏ the͏͏ new͏͏ store,͏͏ stating͏͏ that͏͏ it͏͏ reinforces͏͏ their͏͏ partnership͏͏ with͏͏ Peter͏͏ England͏͏ while͏͏ providing͏͏ stylish͏͏ and͏͏ affordable͏͏ menswear͏͏ options͏͏ that͏͏ cater͏͏ to͏͏ local͏͏ fashion͏͏ preferences.

This͏͏ expansion͏͏ underscores͏͏ Peter͏͏ England’s͏͏ commitment͏͏ to͏͏ enhancing͏͏ its͏͏ retail͏͏ presence͏͏ across͏͏ India͏͏ and͏͏ its͏͏ neighboring͏͏ regions,͏͏ offering͏͏ versatile͏͏ fashion͏͏ options͏͏ at͏͏ competitive͏͏ prices.

Continue͏͏ Exploring:͏͏ Apparel͏͏ brand͏͏ Dockers͏͏ expands͏͏ in͏͏ India͏͏ with͏͏ second͏͏ retail͏͏ outlet

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Puma names Markus Neubrand as new CFO

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M Haziq Pandit
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Puma Markus Neubrand

Puma, the German sportswear manufacturer, has appointed Markus Neubrand as its new Chief Financial Officer,͏͏ effective͏͏ October͏͏ 1,͏͏ 2024.

Neubrand͏͏ will͏͏ succeed͏͏ Hubert͏͏ Hinterseher,͏͏ who͏͏ is͏͏ set͏͏ to͏͏ step͏͏ down͏͏ on͏͏ September͏͏ 30,͏͏ 2024,͏͏ and͏͏ will͏͏ leave͏͏ the͏͏ company͏͏ by͏͏ mutual͏͏ agreement͏͏ on͏͏ December͏͏ 31,͏͏ 2024.

Neubrand’s͏͏ Background:

Markus͏͏ Neubrand͏͏ most͏͏ recently͏͏ held͏͏ the͏͏ position͏͏ of͏͏ Chief͏͏ Financial͏͏ Officer͏͏ at͏͏ GUESS?͏͏ Inc.͏͏ He͏͏ has͏͏ also͏͏ served͏͏ as͏͏ Group͏͏ Chief͏͏ Financial͏͏ Officer͏͏ for͏͏ the͏͏ luxury͏͏ fashion͏͏ brand͏͏ MCM͏͏ Worldwide͏͏ and͏͏ as͏͏ Chief͏͏ Operating͏͏ and͏͏ Chief͏͏ Financial͏͏ Officer͏͏ for͏͏ the͏͏ Americas͏͏ region͏͏ at͏͏ HUGO͏͏ BOSS.͏͏ At͏͏ Puma,͏͏ Neubrand͏͏ will͏͏ oversee͏͏ Finance,͏͏ Investor͏͏ Relations,͏͏ Legal,͏͏ IT,͏͏ and͏͏ Business͏͏ Solutions.

Continue͏͏ Exploring:͏͏ Puma shifts͏͏ focus͏͏ to͏͏ become͏͏ a͏͏ sports͏͏ and͏͏ performance-first͏͏ brand

Arne͏͏ Freundt,͏͏ CEO͏͏ of͏͏ Puma,͏͏ stated,͏͏ “Markus͏͏ is͏͏ an͏͏ experienced͏͏ finance͏͏ executive͏͏ with͏͏ extensive͏͏ expertise͏͏ in͏͏ operational͏͏ and͏͏ financial͏͏ planning,͏͏ along͏͏ with͏͏ capital͏͏ markets.͏͏ His͏͏ industry͏͏ knowledge͏͏ and͏͏ people-first͏͏ approach͏͏ make͏͏ him͏͏ an͏͏ outstanding͏͏ addition͏͏ to͏͏ the͏͏ Puma͏͏ family.”

Effective͏͏ October͏͏ 1,͏͏ 2024,͏͏ Puma’s͏͏ Management͏͏ Board͏͏ will͏͏ include͏͏ Arne͏͏ Freundt͏͏ (CEO),͏͏ Markus͏͏ Neubrand͏͏ (CFO),͏͏ Maria͏͏ Valdes͏͏ (CPO),͏͏ and͏͏ Anne-Laure͏͏ Descours͏͏ (CSO).

Continue͏͏ Exploring:͏͏ Puma enlists͏͏ fitness͏͏ icon͏͏ Milind͏͏ Soman͏͏ as͏͏ running͏͏ ambassador

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MONIN expands retail presence in India with new experiential studio in Mumbai

By
M Haziq Pandit
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MONIN

MONIN, the renowned premium syrup brand, has unveiled its newest experiential studio in Mumbai, bolstering its retail presence in India. Officially͏͏ launched͏͏ on͏͏ 26th͏͏ September͏͏ 2024,͏͏ the͏͏ Juhu͏͏ studio͏͏ follows͏͏ successful͏͏ openings͏͏ in͏͏ Delhi͏͏ and͏͏ Bengaluru.͏͏ This͏͏ expansion͏͏ highlights͏͏ MONIN’s͏͏ dedication͏͏ to͏͏ tapping͏͏ into͏͏ India’s͏͏ thriving͏͏ food͏͏ and͏͏ beverage͏͏ market.

Collaborative͏͏ Hub͏͏ for͏͏ Hospitality͏͏ Professionals:

The͏͏ Mumbai͏͏ studio͏͏ is͏͏ designed͏͏ as͏͏ a͏͏ collaborative͏͏ hub͏͏ for͏͏ hospitality͏͏ industry͏͏ professionals,͏͏ including͏͏ HORECA͏͏ stakeholders͏͏ and͏͏ culinary͏͏ experts.͏͏ It͏͏ aims͏͏ to͏͏ foster͏͏ innovation͏͏ and͏͏ creativity,͏͏ providing͏͏ a͏͏ space͏͏ for͏͏ industry͏͏ leaders͏͏ to͏͏ collaborate͏͏ on͏͏ developing͏͏ new͏͏ recipes͏͏ and͏͏ beverage͏͏ concepts.

Germain͏͏ Araud,͏͏ Managing͏͏ Director͏͏ of͏͏ MONIN͏͏ India͏͏ Pvt͏͏ Ltd,͏͏ stated,͏͏ “The͏͏ Indian͏͏ F&B͏͏ sector͏͏ is͏͏ thriving,͏͏ and͏͏ MONIN͏͏ is͏͏ poised͏͏ to͏͏ introduce͏͏ innovative͏͏ creations͏͏ to͏͏ the͏͏ beverage͏͏ market.͏͏ This͏͏ studio͏͏ will͏͏ serve͏͏ as͏͏ a͏͏ hub͏͏ of͏͏ inspiration,͏͏ driving͏͏ beverage͏͏ and͏͏ culinary͏͏ innovations͏͏ led͏͏ by͏͏ industry͏͏ experts.͏͏ As͏͏ part͏͏ of͏͏ our͏͏ ‘Make͏͏ in͏͏ India’͏͏ initiative,͏͏ we͏͏ have͏͏ an͏͏ ambitious͏͏ expansion͏͏ plan,͏͏ including͏͏ a͏͏ factory͏͏ set͏͏ to͏͏ commence͏͏ operations͏͏ in͏͏ late͏͏ 2025.͏͏ Additionally,͏͏ our͏͏ new͏͏ Research͏͏ and͏͏ Development͏͏ centre͏͏ in͏͏ Hyderabad͏͏ will͏͏ focus͏͏ on͏͏ creating͏͏ localized͏͏ flavours͏͏ and͏͏ tailored͏͏ solutions͏͏ for͏͏ our͏͏ key͏͏ accounts,͏͏ engaging͏͏ communities͏͏ at͏͏ all͏͏ levels.”

Continue͏͏ Exploring:͏͏ French͏͏ gourmet͏͏ flavors͏͏ giant͏͏ Georges͏͏ Monin invests͏͏ INR͏͏ 300͏͏ Crore͏͏ in͏͏ Hyderabad͏͏ for͏͏ new͏͏ manufacturing͏͏ facility͏͏ and͏͏ Indian͏͏ HQ

A͏͏ Blend͏͏ of͏͏ Modern͏͏ Design͏͏ and͏͏ Local͏͏ Culture:

Housed͏͏ in͏͏ a͏͏ renovated͏͏ bungalow͏͏ near͏͏ Juhu͏͏ Tara͏͏ Road,͏͏ the͏͏ studio͏͏ blends͏͏ modern͏͏ and͏͏ local͏͏ cultural͏͏ elements͏͏ in͏͏ its͏͏ design.͏͏ Features͏͏ like͏͏ terracotta͏͏ jaali,͏͏ clay͏͏ roof͏͏ tiles,͏͏ and͏͏ Warli͏͏ art͏͏ underscore͏͏ the͏͏ studio’s͏͏ dedication͏͏ to͏͏ embracing͏͏ regional͏͏ heritage͏͏ while͏͏ promoting͏͏ creativity.͏͏ Its͏͏ open͏͏ layout͏͏ and͏͏ state-of-the-art͏͏ equipment͏͏ are͏͏ designed͏͏ to͏͏ facilitate͏͏ the͏͏ exchange͏͏ of͏͏ ideas͏͏ and͏͏ innovations͏͏ within͏͏ the͏͏ beverage͏͏ and͏͏ hospitality͏͏ sectors.

With͏͏ studios͏͏ now͏͏ operational͏͏ in͏͏ Mumbai,͏͏ Delhi,͏͏ and͏͏ Bengaluru,͏͏ MONIN͏͏ remains͏͏ focused͏͏ on͏͏ its͏͏ retail͏͏ expansion͏͏ in͏͏ India,͏͏ highlighting͏͏ local͏͏ engagement͏͏ and͏͏ sustainability͏͏ as͏͏ core͏͏ values.͏͏ The͏͏ brand͏͏ aims͏͏ to͏͏ support͏͏ the͏͏ creation͏͏ of͏͏ new͏͏ beverage͏͏ experiences͏͏ and͏͏ contribute͏͏ to͏͏ the͏͏ evolving͏͏ hospitality͏͏ landscape͏͏ in͏͏ the͏͏ country.

Continue͏͏ Exploring:͏͏ Broadway͏͏ launches͏͏ flagship͏͏ experiential commerce͏͏ store͏͏ in͏͏ New͏͏ Delhi

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McDowell’s launches X Series to tap into India’s evolving cocktail culture

By
M Haziq Pandit
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0
McDowell’s cocktail

India’s hospitality and beverage industry is undergoing notable transformations in consumer preferences, influenced by evolving socializing patterns following Covid. The͏͏ emergence͏͏ of͏͏ Middle͏͏ India͏͏ and͏͏ the͏͏ younger͏͏ generations,͏͏ such͏͏ as͏͏ Gen͏͏ Z͏͏ and͏͏ millennials,͏͏ is͏͏ driving͏͏ demand͏͏ for͏͏ more͏͏ diverse͏͏ experiences͏͏ beyond͏͏ conventional͏͏ choices͏͏ like͏͏ whisky.͏͏ This͏͏ trend͏͏ is͏͏ reflected͏͏ in͏͏ the͏͏ rising͏͏ popularity͏͏ of͏͏ cocktail culture,͏͏ as͏͏ consumers͏͏ across͏͏ various͏͏ age͏͏ groups͏͏ explore͏͏ innovative͏͏ flavors͏͏ and͏͏ drinks.

McDowell’s Revitalises͏͏ Offerings͏͏ with͏͏ the͏͏ X͏͏ Series:

In͏͏ response͏͏ to͏͏ this͏͏ shift,͏͏ McDowell’s͏͏ and͏͏ Co.,͏͏ a͏͏ 125-year-old͏͏ legacy͏͏ brand͏͏ in͏͏ India’s͏͏ spirits͏͏ market,͏͏ has͏͏ revitalised͏͏ its͏͏ offerings͏͏ with͏͏ the͏͏ launch͏͏ of͏͏ the͏͏ X͏͏ Series.͏͏ This͏͏ new͏͏ portfolio,͏͏ featuring͏͏ vodka,͏͏ gin,͏͏ citron͏͏ rum,͏͏ and͏͏ dark͏͏ rum,͏͏ aims͏͏ to͏͏ attract͏͏ consumers͏͏ looking͏͏ for͏͏ more͏͏ diverse͏͏ and͏͏ sophisticated͏͏ drinking͏͏ experiences.͏͏ Crafted͏͏ from͏͏ ingredients͏͏ sourced͏͏ both͏͏ locally͏͏ and͏͏ globally,͏͏ the͏͏ X͏͏ Series͏͏ showcases͏͏ the͏͏ brand’s͏͏ dedication͏͏ to͏͏ innovation͏͏ while͏͏ upholding͏͏ its͏͏ long-standing͏͏ quality͏͏ standards.

The͏͏ X͏͏ Series͏͏ distinguishes͏͏ itself͏͏ by͏͏ fusing͏͏ Indian͏͏ ingredients͏͏ with͏͏ exotic͏͏ global͏͏ flavours,͏͏ presenting͏͏ a͏͏ novel͏͏ approach͏͏ to͏͏ the͏͏ spirits͏͏ market.͏͏ With͏͏ contributions͏͏ from͏͏ the͏͏ brand’s͏͏ seven͏͏ distilleries͏͏ across͏͏ the͏͏ country,͏͏ this͏͏ diverse͏͏ range͏͏ seeks͏͏ to͏͏ provide͏͏ a͏͏ unique͏͏ tasting͏͏ experience͏͏ using͏͏ honest͏͏ ingredients͏͏ and͏͏ distinctive͏͏ recipes.

Continue͏͏ Exploring:͏͏ India’s͏͏ alcobev͏͏ market͏͏ sees͏͏ boost͏͏ from͏͏ HNIs͏͏ as͏͏ craft͏͏ spirits gain͏͏ popularity

Varun͏͏ Koorichh,͏͏ VP͏͏ and͏͏ Portfolio͏͏ Head͏͏ of͏͏ Marketing͏͏ at͏͏ Diageo͏͏ India,͏͏ stated,͏͏ “McDowell’s͏͏ has͏͏ consistently͏͏ set͏͏ the͏͏ standard͏͏ for͏͏ excellence͏͏ in͏͏ the͏͏ spirits͏͏ industry͏͏ with͏͏ its͏͏ remarkable͏͏ taste͏͏ and͏͏ enduring͏͏ legacy͏͏ of͏͏ quality.͏͏ With͏͏ the͏͏ launch͏͏ of͏͏ the͏͏ X͏͏ Series͏͏ by͏͏ McDowell’s͏͏ and͏͏ Co,͏͏ we͏͏ are͏͏ advancing͏͏ our͏͏ storied͏͏ heritage͏͏ into͏͏ a͏͏ new͏͏ era͏͏ of͏͏ sophistication͏͏ and͏͏ excellence.͏͏ This͏͏ new͏͏ range͏͏ of͏͏ premium͏͏ vodka,͏͏ gin,͏͏ citron͏͏ rum,͏͏ and͏͏ dark͏͏ rum͏͏ is͏͏ inspired͏͏ by͏͏ evolving͏͏ consumer͏͏ preferences͏͏ for͏͏ broader͏͏ selections,͏͏ emphasising͏͏ higher-quality͏͏ drinking͏͏ experiences,͏͏ with͏͏ experimentation͏͏ at͏͏ its͏͏ core.”

Versatile͏͏ Options͏͏ for͏͏ the͏͏ New͏͏ Generation͏͏ of͏͏ Drinkers:

The͏͏ X͏͏ Series͏͏ marks͏͏ McDowell’s͏͏ entry͏͏ into͏͏ the͏͏ modern͏͏ cocktail͏͏ culture,͏͏ providing͏͏ versatile͏͏ options͏͏ for͏͏ consumers͏͏ keen͏͏ to͏͏ explore͏͏ new͏͏ flavours.͏͏ Its͏͏ unique͏͏ flavour͏͏ profiles͏͏ are͏͏ crafted͏͏ to͏͏ enhance͏͏ mixability͏͏ and͏͏ inspire͏͏ innovative͏͏ cocktails,͏͏ aligning͏͏ with͏͏ the͏͏ evolving͏͏ preferences͏͏ of͏͏ India’s͏͏ new͏͏ generation͏͏ of͏͏ drinkers.͏͏ This͏͏ initiative͏͏ positions͏͏ McDowell’s͏͏ and͏͏ Co.͏͏ as͏͏ a͏͏ significant͏͏ player͏͏ in͏͏ the͏͏ ongoing͏͏ transformation͏͏ of͏͏ the͏͏ hospitality͏͏ sector,͏͏ offering͏͏ products͏͏ that͏͏ appeal͏͏ to͏͏ today’s͏͏ more͏͏ adventurous͏͏ and͏͏ discerning͏͏ consumers.

With͏͏ this͏͏ latest͏͏ offering,͏͏ McDowell’s͏͏ upholds͏͏ its͏͏ legacy͏͏ of͏͏ innovation,͏͏ crafting͏͏ a͏͏ range͏͏ that͏͏ caters͏͏ to͏͏ diverse͏͏ occasions͏͏ and͏͏ taste͏͏ preferences.͏͏ As͏͏ India’s͏͏ hospitality͏͏ industry͏͏ evolves,͏͏ the͏͏ X͏͏ Series͏͏ by͏͏ McDowell’s͏͏ and͏͏ Co.͏͏ is͏͏ poised͏͏ to͏͏ play͏͏ a͏͏ crucial͏͏ role͏͏ in͏͏ shaping͏͏ the͏͏ future͏͏ of͏͏ drinking͏͏ experiences͏͏ in͏͏ the͏͏ country.

Continue͏͏ Exploring:͏͏ Premiumization͏͏ trend͏͏ to͏͏ fuel͏͏ India’s͏͏ soaring͏͏ liquor͏͏ industry,͏͏ Crisil͏͏ Report͏͏ reveals

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Swiggy’s Q1 loss widens 8% YoY to INR 611 Cr, operating revenue jumps 35%

By
M Haziq Pandit
-
0
Swiggy

IPO-bound Swiggy reported a consolidated net loss of INR 611 crore in the June quarter of FY25, an increase of over 8% from INR 564.08 crore in the same period last year,͏͏ attributed͏͏ to͏͏ rising͏͏ operating͏͏ costs.

Revenue͏͏ Surge͏͏ Driven͏͏ by͏͏ Food͏͏ Delivery͏͏ and͏͏ Quick͏͏ Commerce:

Nonetheless,͏͏ Swiggy’s͏͏ revenue͏͏ from͏͏ operations͏͏ surged͏͏ 35%͏͏ to͏͏ INR͏͏ 3,222.2͏͏ crore͏͏ during͏͏ the͏͏ quarter,͏͏ up͏͏ from͏͏ INR͏͏ 2,389.8͏͏ crore,͏͏ driven͏͏ by͏͏ robust͏͏ growth͏͏ in͏͏ its͏͏ food͏͏ delivery͏͏ and͏͏ quick͏͏ commerce͏͏ sectors.

In͏͏ Q1͏͏ FY25,͏͏ the͏͏ food͏͏ delivery͏͏ segment͏͏ contributed͏͏ INR͏͏ 1,518͏͏ crore͏͏ to͏͏ Swiggy’s͏͏ total͏͏ operating͏͏ revenue,͏͏ up͏͏ from͏͏ INR͏͏ 1,200͏͏ crore͏͏ in͏͏ the͏͏ same͏͏ quarter͏͏ last͏͏ year.͏͏ This͏͏ growth͏͏ was͏͏ primarily͏͏ fueled͏͏ by͏͏ an͏͏ increase͏͏ in͏͏ gross͏͏ order͏͏ value͏͏ (GOV),͏͏ which͏͏ rose͏͏ from͏͏ INR͏͏ 5,958.7͏͏ crore͏͏ in͏͏ Q1͏͏ FY24͏͏ to͏͏ INR͏͏ 6,808.3͏͏ crore͏͏ in͏͏ Q1͏͏ FY25.

Instamart͏͏ Sees͏͏ Impressive͏͏ Revenue͏͏ Growth:

In͏͏ the͏͏ reported͏͏ quarter,͏͏ Swiggy’s͏͏ quick͏͏ commerce͏͏ division,͏͏ Instamart,͏͏ generated͏͏ revenue͏͏ of͏͏ INR͏͏ 374.1͏͏ crore,͏͏ marking͏͏ a͏͏ 107%͏͏ increase͏͏ from͏͏ INR͏͏ 180͏͏ crore͏͏ in͏͏ Q1͏͏ FY24.͏͏ This͏͏ growth͏͏ was͏͏ driven͏͏ by͏͏ a͏͏ rise͏͏ in͏͏ gross͏͏ order͏͏ value͏͏ (GOV),͏͏ which͏͏ soared͏͏ to͏͏ INR͏͏ 2,724͏͏ crore͏͏ in͏͏ Q1͏͏ FY25,͏͏ up͏͏ from͏͏ INR͏͏ 1,741.5͏͏ crore͏͏ in͏͏ the͏͏ same͏͏ period͏͏ last͏͏ year.

Founded͏͏ in͏͏ 2014͏͏ by͏͏ Sriharsha͏͏ Majety,͏͏ Nandan͏͏ Reddy,͏͏ Phani͏͏ Kishan͏͏ Addepalli,͏͏ and͏͏ Rahul͏͏ Jaimini,͏͏ Swiggy͏͏ began͏͏ as͏͏ a͏͏ food͏͏ delivery͏͏ startup͏͏ before͏͏ expanding͏͏ into͏͏ the͏͏ quick͏͏ commerce͏͏ sector͏͏ with͏͏ Instamart.

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

It͏͏ competes͏͏ with͏͏ established͏͏ foodtech͏͏ giant͏͏ Zomato.

Although͏͏ Swiggy’s͏͏ net͏͏ loss͏͏ increased͏͏ in͏͏ Q1,͏͏ its͏͏ competitor͏͏ Zomato͏͏ reported͏͏ a͏͏ substantial͏͏ year-on-year͏͏ rise͏͏ in͏͏ consolidated͏͏ net͏͏ profit͏͏ to͏͏ INR͏͏ 253͏͏ crore͏͏ during͏͏ the͏͏ same͏͏ period.͏͏ Zomato’s͏͏ quick͏͏ commerce͏͏ segment͏͏ achieved͏͏ revenue͏͏ of͏͏ INR͏͏ 942͏͏ crore͏͏ in͏͏ the͏͏ reported͏͏ quarter,͏͏ with͏͏ a͏͏ gross͏͏ order͏͏ value͏͏ (GOV)͏͏ of͏͏ INR͏͏ 4,923͏͏ crore.

The͏͏ foodtech͏͏ giant’s͏͏ expenditures͏͏ rose͏͏ by͏͏ 27.2%͏͏ to͏͏ INR͏͏ 3,908͏͏ crore͏͏ in͏͏ Q1͏͏ FY25,͏͏ primarily͏͏ driven͏͏ by͏͏ increased͏͏ stock-in-trade͏͏ purchases,͏͏ food͏͏ delivery͏͏ expenses,͏͏ employee͏͏ costs,͏͏ and͏͏ other͏͏ charges͏͏ related͏͏ to͏͏ delivery.

The͏͏ company͏͏ reduced͏͏ its͏͏ spending͏͏ on͏͏ materials͏͏ by͏͏ nearly͏͏ 46%,͏͏ bringing͏͏ it͏͏ down͏͏ to͏͏ INR͏͏ 7.76͏͏ crore͏͏ in͏͏ the͏͏ reported͏͏ quarter,͏͏ compared͏͏ to͏͏ INR͏͏ 14.36͏͏ crore͏͏ in͏͏ Q1͏͏ FY24.

Swiggy͏͏ incurred͏͏ approximately͏͏ INR͏͏ 119.5͏͏ crore͏͏ in͏͏ purchases͏͏ of͏͏ stock-in-trade͏͏ during͏͏ Q1͏͏ FY25,͏͏ marking͏͏ a͏͏ 33%͏͏ year-on-year͏͏ increase.

The͏͏ IPO-bound͏͏ food͏͏ delivery͏͏ and͏͏ quick͏͏ commerce͏͏ giant͏͏ saw͏͏ its͏͏ employee͏͏ benefit͏͏ expenses͏͏ rise͏͏ by͏͏ 21.3%͏͏ year-on-year͏͏ to͏͏ INR͏͏ 589.2͏͏ crore͏͏ in͏͏ the͏͏ reported͏͏ quarter.

It͏͏ is͏͏ important͏͏ to͏͏ highlight͏͏ that͏͏ Swiggy͏͏ has͏͏ submitted͏͏ an͏͏ updated͏͏ draft͏͏ red͏͏ herring͏͏ prospectus͏͏ (DRHP)͏͏ to͏͏ market͏͏ regulator͏͏ SEBI͏͏ in͏͏ order͏͏ to͏͏ raise͏͏ over͏͏ INR͏͏ 3,750͏͏ crore͏͏ through͏͏ an͏͏ initial͏͏ public͏͏ offering͏͏ (IPO).

According͏͏ to͏͏ the͏͏ DRHP,͏͏ Swiggy’s͏͏ 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.

Targeting͏͏ a͏͏ $15͏͏ Billion͏͏ Valuation:

The͏͏ foodtech͏͏ giant͏͏ aims͏͏ for͏͏ a͏͏ valuation͏͏ of͏͏ $15͏͏ billion͏͏ for͏͏ its͏͏ IPO.͏͏ However,͏͏ brokerage͏͏ firm͏͏ Elara͏͏ Capital͏͏ anticipates͏͏ that͏͏ Swiggy͏͏ may͏͏ achieve͏͏ a͏͏ lower͏͏ valuation͏͏ in͏͏ the͏͏ public͏͏ market͏͏ compared͏͏ to͏͏ Zomato,͏͏ as͏͏ it͏͏ trails͏͏ behind͏͏ the͏͏ Deepinder͏͏ Goyal-led͏͏ company͏͏ in͏͏ several͏͏ key͏͏ metrics,͏͏ including͏͏ revenue,͏͏ gross͏͏ order͏͏ value͏͏ (GOV),͏͏ and͏͏ order͏͏ count.

Despite͏͏ this,͏͏ investors͏͏ are͏͏ eagerly͏͏ purchasing͏͏ unlisted͏͏ shares͏͏ of͏͏ Swiggy͏͏ in͏͏ anticipation͏͏ of͏͏ the͏͏ highly͏͏ awaited͏͏ IPO.͏͏ Hindustan͏͏ Composites,͏͏ Modern͏͏ Insulators,͏͏ and͏͏ Madhuri͏͏ Dixit͏͏ have͏͏ all͏͏ announced͏͏ investments͏͏ in͏͏ the͏͏ foodtech͏͏ giant.

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

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Flipkart invests in personalisation and GenAI to drive growth during Big Billion Days

By
M Haziq Pandit
-
0
Flipkart

E-commerce platform Flipkart is heavily investing in personalisation, GenAI, and video commerce to enhance customer engagement and drive growth, particularly during its annual festive sale, The Big Billion Days,͏͏ according͏͏ to͏͏ senior͏͏ executives.

“Personalisation,͏͏ GenAI,͏͏ and͏͏ video͏͏ commerce͏͏ are͏͏ our͏͏ primary͏͏ focuses.͏͏ The͏͏ more͏͏ we͏͏ tailor͏͏ and͏͏ customise͏͏ experiences,͏͏ the͏͏ better͏͏ the͏͏ customer͏͏ response,”͏͏ said͏͏ Harsh͏͏ Chaudhary,͏͏ VP͏͏ -͏͏ Growth͏͏ at͏͏ Flipkart.

Live͏͏ Commerce͏͏ Significantly͏͏ Increases͏͏ Conversion͏͏ Rates:

Sharing͏͏ insights͏͏ from͏͏ last͏͏ year’s͏͏ BBD͏͏ sale,͏͏ Chaudhary͏͏ noted͏͏ that͏͏ conversion͏͏ rates͏͏ through͏͏ live͏͏ commerce͏͏ doubled͏͏ compared͏͏ to͏͏ traditional͏͏ product͏͏ pages.͏͏ “Brands͏͏ leveraging͏͏ live͏͏ commerce͏͏ during͏͏ BBD͏͏ events͏͏ have͏͏ experienced͏͏ significant͏͏ increases͏͏ in͏͏ conversion,͏͏ particularly͏͏ in͏͏ high-trust͏͏ categories͏͏ such͏͏ as͏͏ electronics͏͏ and͏͏ beauty,”͏͏ he͏͏ added.

Continue͏͏ Exploring:͏͏ Flipkart launches͏͏ B2B͏͏ app͏͏ for͏͏ refurbished͏͏ product͏͏ sellers͏͏ ahead͏͏ of͏͏ Big Billion Day

Tier͏͏ 2͏͏ Users͏͏ Dominate͏͏ Video͏͏ Commerce͏͏ Engagement:

Additionally,͏͏ Chaudhary͏͏ mentioned͏͏ that͏͏ users͏͏ from͏͏ tier͏͏ 2͏͏ and͏͏ above͏͏ regions͏͏ accounted͏͏ for͏͏ 65͏͏ per͏͏ cent͏͏ of͏͏ Flipkart’s͏͏ total͏͏ video͏͏ commerce͏͏ engagement͏͏ across͏͏ key͏͏ categories͏͏ such͏͏ as͏͏ fashion,͏͏ beauty,͏͏ personal͏͏ care,͏͏ home͏͏ decor,͏͏ and͏͏ furnishings.

Emphasising͏͏ the͏͏ growth͏͏ of͏͏ Flipkart’s͏͏ ad͏͏ vertical͏͏ ahead͏͏ of͏͏ BBD,͏͏ Sandeep͏͏ Karwa,͏͏ VP͏͏ of͏͏ Flipkart͏͏ Ads,͏͏ stated,͏͏ “In͏͏ the͏͏ last͏͏ BBD,͏͏ our͏͏ target͏͏ audience͏͏ was͏͏ around͏͏ 500.͏͏ This͏͏ year,͏͏ we’ve͏͏ expanded͏͏ that͏͏ to͏͏ nearly͏͏ 5,000,͏͏ representing͏͏ a͏͏ 10x͏͏ increase͏͏ in͏͏ the͏͏ audience͏͏ that͏͏ brands͏͏ can͏͏ target͏͏ through͏͏ Flipkart͏͏ ads.”

Karwa͏͏ also͏͏ noted͏͏ that͏͏ in͏͏ the͏͏ past͏͏ year,͏͏ 50͏͏ per͏͏ cent͏͏ of͏͏ Flipkart͏͏ sellers͏͏ have͏͏ experienced͏͏ over͏͏ 100͏͏ per͏͏ cent͏͏ growth͏͏ in͏͏ their͏͏ on-app͏͏ customer͏͏ reach͏͏ through͏͏ Flipkart͏͏ ad͏͏ products.

Continue͏͏ Exploring:͏͏ Flipkart,͏͏ Amazon͏͏ to͏͏ kick͏͏ off͏͏ major͏͏ festive͏͏ sales͏͏ from͏͏ September͏͏ 26

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