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QSRs and snack brands gear up for festive season demand surge

By
M Haziq Pandit
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0
QSR

As the festive season of 2024 approaches, quick service restaurants (QSRs), café chains, bakeries, and snack brands across India are͏͏ gearing͏͏ up͏͏ for͏͏ a͏͏ rise͏͏ in͏͏ demand,͏͏ despite͏͏ the͏͏ noticeable͏͏ impact͏͏ of͏͏ the͏͏ economic͏͏ downturn͏͏ on͏͏ the͏͏ industry͏͏ in͏͏ the͏͏ last͏͏ quarter.

The͏͏ festive͏͏ season͏͏ in͏͏ India͏͏ begins͏͏ around͏͏ mid-August͏͏ with͏͏ Raksha͏͏ Bandhan͏͏ and͏͏ continues͏͏ through͏͏ celebrations͏͏ like͏͏ Ganesh͏͏ Chaturthi,͏͏ Onam,͏͏ Dussehra,͏͏ Diwali,͏͏ and͏͏ Christmas,͏͏ culminating͏͏ in͏͏ New͏͏ Year’s͏͏ festivities.͏͏ This͏͏ period͏͏ is͏͏ typically͏͏ characterised͏͏ by͏͏ increased͏͏ consumer͏͏ spending,͏͏ providing͏͏ a͏͏ prime͏͏ opportunity͏͏ for͏͏ companies͏͏ to͏͏ enhance͏͏ sales͏͏ and͏͏ customer͏͏ engagement.͏͏ For͏͏ numerous͏͏ brands,͏͏ this͏͏ season͏͏ accounts͏͏ for͏͏ nearly͏͏ 30%͏͏ of͏͏ their͏͏ annual͏͏ sales͏͏ and͏͏ approximately͏͏ 60%͏͏ of͏͏ their͏͏ marketing͏͏ expenditures,͏͏ according͏͏ to͏͏ media͏͏ reports.

Brands͏͏ Prepare͏͏ for͏͏ Sales͏͏ Surge͏͏ with͏͏ Special͏͏ Menus͏͏ and͏͏ Promotions:

After͏͏ months͏͏ of͏͏ sluggish͏͏ demand,͏͏ brands͏͏ are͏͏ counting͏͏ on͏͏ the͏͏ festive͏͏ season͏͏ to͏͏ revitalise͏͏ their͏͏ business.͏͏ From͏͏ launching͏͏ special͏͏ festive͏͏ menus͏͏ to͏͏ enhancing͏͏ delivery͏͏ services,͏͏ food͏͏ and͏͏ beverage͏͏ companies͏͏ are͏͏ making͏͏ every͏͏ effort͏͏ to͏͏ meet͏͏ the͏͏ preferences͏͏ of͏͏ festive͏͏ shoppers.

Ice͏͏ cream͏͏ chain͏͏ Baskin͏͏ Robbins,͏͏ which͏͏ has͏͏ recently͏͏ achieved͏͏ the͏͏ milestone͏͏ of͏͏ 1,000͏͏ stores͏͏ in͏͏ India͏͏ and͏͏ the͏͏ South͏͏ Asian͏͏ region,͏͏ has͏͏ introduced͏͏ a͏͏ variety͏͏ of͏͏ new͏͏ flavours͏͏ to͏͏ celebrate͏͏ the͏͏ season.

“The͏͏ most͏͏ effective͏͏ sales͏͏ strategy͏͏ involves͏͏ launching͏͏ a͏͏ product͏͏ that͏͏ customers͏͏ adore͏͏ and͏͏ can’t͏͏ resist,”͏͏ stated͏͏ Mohit͏͏ Khattar,͏͏ CEO͏͏ of͏͏ Graviss͏͏ Foods͏͏ Pvt.͏͏ Ltd.,͏͏ the͏͏ exclusive͏͏ licensee͏͏ of͏͏ Baskin͏͏ Robbins͏͏ in͏͏ India͏͏ and͏͏ several͏͏ other͏͏ regions.͏͏ “Staying͏͏ true͏͏ to͏͏ this͏͏ principle,͏͏ we͏͏ focus͏͏ on͏͏ creating͏͏ unique͏͏ products͏͏ that͏͏ customers͏͏ won’t͏͏ find͏͏ anywhere͏͏ else.”

This͏͏ season͏͏ is͏͏ expected͏͏ to͏͏ witness͏͏ significant͏͏ activity͏͏ on͏͏ quick͏͏ commerce͏͏ platforms,͏͏ as͏͏ customers͏͏ prioritise͏͏ convenience͏͏ for͏͏ last-minute͏͏ gifting.͏͏ This͏͏ trend͏͏ was͏͏ evident͏͏ during͏͏ this͏͏ year’s͏͏ Raksha͏͏ Bandhan,͏͏ when͏͏ Blinkit͏͏ sold͏͏ around͏͏ 700͏͏ rakhis͏͏ every͏͏ minute.

Continue͏͏ Exploring:͏͏ Hyperlocal͏͏ food͏͏ &͏͏ beverage͏͏ brands͏͏ scale͏͏ up͏͏ presence͏͏ on͏͏ quick͏͏ commerce͏͏ to͏͏ capture͏͏ festive͏͏ season͏͏ demand

According͏͏ to͏͏ media͏͏ reports,͏͏ these͏͏ platforms͏͏ are͏͏ ramping͏͏ up͏͏ their͏͏ 24×7͏͏ delivery͏͏ services͏͏ to͏͏ cater͏͏ to͏͏ consumer͏͏ demand,͏͏ even͏͏ during͏͏ the͏͏ early͏͏ hours.

Barista͏͏ Strengthens͏͏ Hyperlocal͏͏ Delivery͏͏ with͏͏ New͏͏ Partnerships:

Eager͏͏ to͏͏ capitalise͏͏ on͏͏ the͏͏ last-minute͏͏ shopping͏͏ frenzy,͏͏ brands͏͏ are͏͏ ensuring͏͏ their͏͏ availability͏͏ on͏͏ these͏͏ platforms.͏͏ Homegrown͏͏ coffee͏͏ chain͏͏ Barista͏͏ Coffee͏͏ has͏͏ enhanced͏͏ its͏͏ presence͏͏ on͏͏ hyperlocal͏͏ services͏͏ like͏͏ Swiggy͏͏ Dineout͏͏ and͏͏ MagicPin.

Barista͏͏ has͏͏ partnered͏͏ with͏͏ DreamFolks͏͏ to͏͏ provide͏͏ complimentary͏͏ food͏͏ and͏͏ beverage͏͏ combos͏͏ to͏͏ credit͏͏ and͏͏ debit͏͏ cardholders͏͏ at͏͏ select͏͏ Barista͏͏ cafés.

Barista͏͏ has͏͏ partnered͏͏ with͏͏ DreamFolks͏͏ to͏͏ provide͏͏ complimentary͏͏ food͏͏ and͏͏ beverage͏͏ combos͏͏ to͏͏ credit͏͏ and͏͏ debit͏͏ cardholders͏͏ at͏͏ select͏͏ Barista͏͏ cafés.

Personalised͏͏ offerings͏͏ are͏͏ particularly͏͏ impactful͏͏ during͏͏ the͏͏ festive͏͏ season,͏͏ as͏͏ they͏͏ resonate͏͏ with͏͏ both͏͏ emotional͏͏ and͏͏ cultural͏͏ significance.͏͏ Brands͏͏ have͏͏ capitalised͏͏ on͏͏ this͏͏ for͏͏ years,͏͏ and͏͏ the͏͏ rise͏͏ of͏͏ quick͏͏ commerce͏͏ has͏͏ made͏͏ these͏͏ offerings͏͏ even͏͏ more͏͏ accessible.͏͏ Customers͏͏ can͏͏ now͏͏ order͏͏ customised͏͏ products,͏͏ packaging,͏͏ or͏͏ experiences͏͏ tailored͏͏ to͏͏ their͏͏ preferences͏͏ and͏͏ receive͏͏ them͏͏ within͏͏ minutes.

Continue͏͏ Exploring:͏͏ INR͏͏ 1.25͏͏ Lakh͏͏ Cr͏͏ Industry͏͏ to͏͏ Skyrocket͏͏ This͏͏ Festive͏͏ Season:͏͏ Mithai͏͏ and͏͏ Namkeen͏͏ Expert͏͏ Forecasts͏͏ Growth͏͏ Amid͏͏ Innovation͏͏ Surge

Bakingo͏͏ Embraces͏͏ Personalisation͏͏ for͏͏ Sales͏͏ Growth:

Bakingo,͏͏ an͏͏ online͏͏ dessert͏͏ brand͏͏ renowned͏͏ for͏͏ its͏͏ cakes͏͏ and͏͏ pastries͏͏ delivered͏͏ in͏͏ under͏͏ two͏͏ hours,͏͏ is͏͏ providing͏͏ curated͏͏ recommendations͏͏ and͏͏ embracing͏͏ a͏͏ personalised͏͏ approach͏͏ for͏͏ much͏͏ of͏͏ its͏͏ merchandise͏͏ in͏͏ an͏͏ effort͏͏ to͏͏ boost͏͏ sales͏͏ significantly.

F&B͏͏ Brands͏͏ Target͏͏ Strong͏͏ Festive͏͏ Sales:

Food͏͏ and͏͏ beverage͏͏ brands͏͏ are͏͏ optimistic͏͏ about͏͏ a͏͏ surge͏͏ in͏͏ sales͏͏ this͏͏ festive͏͏ season.

“With͏͏ an͏͏ emphasis͏͏ on͏͏ improved͏͏ customer͏͏ engagement͏͏ through͏͏ promotions͏͏ and͏͏ partnerships͏͏ for͏͏ quicker͏͏ delivery,͏͏ we͏͏ are͏͏ confident͏͏ in͏͏ achieving͏͏ substantial͏͏ traction͏͏ during͏͏ the͏͏ festive͏͏ season,”͏͏ stated͏͏ CEO͏͏ Rajat͏͏ Agrawal.

“We͏͏ are͏͏ targeting͏͏ a͏͏ 20-25%͏͏ increase͏͏ in͏͏ overall͏͏ sales͏͏ compared͏͏ to͏͏ the͏͏ same͏͏ period͏͏ last͏͏ year.”

Luxury͏͏ chocolate͏͏ brand͏͏ Smoor͏͏ expects͏͏ an͏͏ increase͏͏ in͏͏ gifting͏͏ orders͏͏ this͏͏ season.͏͏ The͏͏ company͏͏ is͏͏ offering͏͏ customisable͏͏ gift͏͏ hampers͏͏ and͏͏ chocolate͏͏ boxes,͏͏ available͏͏ online͏͏ and͏͏ in-store,͏͏ along͏͏ with͏͏ special͏͏ discounts͏͏ on͏͏ bulk͏͏ corporate͏͏ orders͏͏ and͏͏ early-bird͏͏ deals͏͏ for͏͏ customers͏͏ ordering͏͏ through͏͏ quick͏͏ commerce͏͏ platforms͏͏ and͏͏ smoor.in.

“We͏͏ aim͏͏ to͏͏ boost͏͏ our͏͏ gifting͏͏ orders͏͏ and͏͏ expand͏͏ our͏͏ repeat͏͏ customer͏͏ base,”͏͏ said͏͏ Vimal͏͏ Sharma,͏͏ founder͏͏ of͏͏ Smoor.͏͏ “We͏͏ are͏͏ targeting͏͏ robust͏͏ sales͏͏ growth͏͏ of͏͏ approximately͏͏ 50-60%͏͏ this͏͏ season,͏͏ driven͏͏ by͏͏ our͏͏ expansion͏͏ into͏͏ tier-two͏͏ cities.͏͏ Consequently,͏͏ we͏͏ expect͏͏ a͏͏ 10-20%͏͏ increase͏͏ in͏͏ festive͏͏ revenue͏͏ compared͏͏ to͏͏ last͏͏ year.”

Mumbai-based͏͏ ice͏͏ cream͏͏ chain͏͏ Naturals͏͏ is͏͏ targeting͏͏ double-digit͏͏ growth͏͏ this͏͏ season͏͏ and͏͏ is͏͏ also͏͏ expecting͏͏ a͏͏ rise͏͏ in͏͏ bulk͏͏ orders.͏͏ “Given͏͏ the͏͏ increasing͏͏ demand͏͏ for͏͏ bulk͏͏ orders͏͏ during͏͏ this͏͏ period,͏͏ we͏͏ anticipate͏͏ a͏͏ substantial͏͏ boost͏͏ in͏͏ sales͏͏ volume͏͏ and͏͏ a͏͏ significant͏͏ increase͏͏ in͏͏ revenue͏͏ compared͏͏ to͏͏ last͏͏ year,”͏͏ said͏͏ Siddhant͏͏ Kamath,͏͏ director͏͏ of͏͏ Naturals.

Bakingo͏͏ is͏͏ aiming͏͏ for͏͏ a͏͏ remarkable͏͏ 60%͏͏ growth͏͏ compared͏͏ to͏͏ last͏͏ year.͏͏ “With͏͏ our͏͏ expansion͏͏ into͏͏ new͏͏ cities͏͏ and͏͏ a͏͏ strong͏͏ emphasis͏͏ on͏͏ scaling͏͏ operations,͏͏ we͏͏ anticipate͏͏ a͏͏ substantial͏͏ increase͏͏ in͏͏ order͏͏ volumes,”͏͏ said͏͏ Himanshu͏͏ Chawla,͏͏ co-founder͏͏ of͏͏ Bakingo.

Continue͏͏ Exploring:͏͏ One-third͏͏ of͏͏ food͏͏ outlets͏͏ in͏͏ India͏͏ to͏͏ be͏͏ QSRs by͏͏ 2028:͏͏ Report

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iD Fresh Food enters INR 25,000 Cr spices market with launch of clean label range

By
M Haziq Pandit
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0
iD Fresh Food spices

iD Fresh Food, one of India’s leading fresh food brands, has entered the INR 25,000-crore branded spices market with the launch of three unique spice variants:͏͏ Pure͏͏ Spice͏͏ Red͏͏ Chilli͏͏ Powder,͏͏ Blended͏͏ Spice͏͏ Garam͏͏ Masala,͏͏ and͏͏ Sambar͏͏ Powder.͏͏ This͏͏ initiative͏͏ aligns͏͏ with͏͏ iD͏͏ Fresh’s͏͏ objective͏͏ to͏͏ secure͏͏ a͏͏ substantial͏͏ share͏͏ of͏͏ the͏͏ expanding͏͏ spices͏͏ market.

Dedicated͏͏ to͏͏ providing͏͏ clean,͏͏ preservative-free͏͏ products,͏͏ iD͏͏ Fresh͏͏ Food’s͏͏ new͏͏ spice͏͏ range͏͏ is͏͏ made͏͏ without͏͏ synthetic͏͏ additives͏͏ or͏͏ chemicals.͏͏ Each͏͏ batch͏͏ adheres͏͏ to͏͏ strict͏͏ FSSAI͏͏ standards,͏͏ undergoing͏͏ comprehensive͏͏ testing͏͏ for͏͏ high-risk͏͏ pesticide͏͏ residues͏͏ and͏͏ passing͏͏ through͏͏ 20͏͏ quality͏͏ checks͏͏ from͏͏ farm͏͏ to͏͏ final͏͏ product.͏͏ The͏͏ company͏͏ ensures͏͏ its͏͏ spices͏͏ are͏͏ free͏͏ from͏͏ chemical͏͏ treatments͏͏ and͏͏ adulterants,͏͏ delivering͏͏ top-tier͏͏ quality͏͏ to͏͏ consumers.

Retail͏͏ Launch͏͏ in͏͏ Bangalore:

The͏͏ new͏͏ spices͏͏ will͏͏ first͏͏ be͏͏ launched͏͏ in͏͏ retail͏͏ stores͏͏ across͏͏ Bangalore͏͏ this͏͏ month,͏͏ with͏͏ plans͏͏ to͏͏ expand͏͏ gradually͏͏ into͏͏ other͏͏ major͏͏ markets.

Continue͏͏ Exploring:͏͏ iD Fresh Food to͏͏ invest͏͏ INR͏͏ 100͏͏ Cr͏͏ in͏͏ expansion,͏͏ doubling͏͏ manufacturing͏͏ capacity͏͏ across͏͏ India͏͏ and͏͏ Saudi͏͏ Arabia

Innovative͏͏ Packaging͏͏ for͏͏ Freshness:

“Innovation͏͏ has͏͏ always͏͏ been͏͏ central͏͏ to͏͏ iD͏͏ Fresh͏͏ Food’s͏͏ offerings.͏͏ Our͏͏ packaging͏͏ for͏͏ these͏͏ spices͏͏ ensures͏͏ their͏͏ freshness,͏͏ flavour,͏͏ and͏͏ aroma͏͏ for͏͏ up͏͏ to͏͏ 12͏͏ months͏͏ without͏͏ any͏͏ chemical͏͏ treatment.͏͏ To͏͏ uphold͏͏ our͏͏ commitment͏͏ to͏͏ transparency͏͏ and͏͏ clean͏͏ labelling,͏͏ each͏͏ spice͏͏ packet͏͏ features͏͏ a͏͏ QR͏͏ code͏͏ that͏͏ allows͏͏ consumers͏͏ to͏͏ access͏͏ pesticide͏͏ test͏͏ results͏͏ and͏͏ quality͏͏ check͏͏ reports,͏͏ providing͏͏ detailed͏͏ insights͏͏ into͏͏ the͏͏ product’s͏͏ quality.͏͏ After͏͏ dedicating͏͏ several͏͏ months͏͏ to͏͏ developing͏͏ these͏͏ spices,͏͏ we͏͏ are͏͏ excited͏͏ to͏͏ venture͏͏ into͏͏ this͏͏ new͏͏ category.͏͏ Our͏͏ aim͏͏ is͏͏ to͏͏ secure͏͏ a͏͏ significant͏͏ market͏͏ share͏͏ and͏͏ establish͏͏ a͏͏ new͏͏ standard͏͏ with͏͏ our͏͏ clean͏͏ and͏͏ natural͏͏ ingredients,”͏͏ said͏͏ Rajat͏͏ Diwaker,͏͏ CEO͏͏ (India),͏͏ iD͏͏ Fresh͏͏ Food.

Enakshi,͏͏ Head͏͏ of͏͏ New͏͏ Product͏͏ Development͏͏ at͏͏ iD͏͏ Fresh͏͏ Food,͏͏ stated,͏͏ “Our͏͏ new͏͏ range͏͏ of͏͏ clean͏͏ label͏͏ spices͏͏ reflects͏͏ the͏͏ core͏͏ principles͏͏ that͏͏ our͏͏ customers͏͏ rely͏͏ on—no͏͏ preservatives,͏͏ no͏͏ chemicals,͏͏ and͏͏ only͏͏ natural͏͏ ingredients.͏͏ To͏͏ guarantee͏͏ exceptional͏͏ quality͏͏ and͏͏ flavour,͏͏ we͏͏ dedicated͏͏ months͏͏ to͏͏ crafting͏͏ these͏͏ spices,͏͏ working͏͏ closely͏͏ with͏͏ experts͏͏ and͏͏ consumers.͏͏ We͏͏ ensure͏͏ purity͏͏ through͏͏ rigorous͏͏ control͏͏ over͏͏ sourcing,͏͏ processing,͏͏ quality͏͏ checks,͏͏ and͏͏ packaging.͏͏ We͏͏ are͏͏ confident͏͏ that͏͏ by͏͏ adhering͏͏ to͏͏ these͏͏ standards,͏͏ we͏͏ will͏͏ make͏͏ a͏͏ significant͏͏ impact͏͏ in͏͏ the͏͏ spices͏͏ market͏͏ and͏͏ sustainably͏͏ meet͏͏ the͏͏ needs͏͏ of͏͏ every͏͏ Indian͏͏ kitchen.”

Each͏͏ spice͏͏ variant͏͏ is͏͏ crafted͏͏ to͏͏ have͏͏ a͏͏ shelf͏͏ life͏͏ of͏͏ 12͏͏ months͏͏ without͏͏ the͏͏ use͏͏ of͏͏ chemicals.͏͏ The͏͏ packaging͏͏ includes͏͏ individual͏͏ 20g͏͏ pouches͏͏ within͏͏ 100g͏͏ packs,͏͏ designed͏͏ to͏͏ maintain͏͏ the͏͏ spices’͏͏ freshness,͏͏ flavour,͏͏ and͏͏ aroma.͏͏ Additionally,͏͏ each͏͏ pack͏͏ features͏͏ a͏͏ QR͏͏ code͏͏ that͏͏ allows͏͏ consumers͏͏ to͏͏ access͏͏ pesticide͏͏ test͏͏ results͏͏ and͏͏ quality͏͏ reports,͏͏ ensuring͏͏ transparency.͏͏ The͏͏ spices͏͏ are͏͏ priced͏͏ as͏͏ follows:͏͏ Red͏͏ Chilli͏͏ Powder͏͏ at͏͏ INR͏͏ 78,͏͏ Sambar͏͏ Powder͏͏ at͏͏ INR͏͏ 100,͏͏ and͏͏ Garam͏͏ Masala͏͏ at͏͏ INR͏͏ 135.

Continue͏͏ Exploring:͏͏ iD Fresh Food diversifies͏͏ into͏͏ packaged͏͏ spices segment,͏͏ targets͏͏ INR͏͏ 100͏͏ Crore͏͏ business͏͏ in͏͏ 3-4͏͏ years

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The Health Factory raises $3.5 Mn in seed funding for nationwide expansion

By
M Haziq Pandit
-
0
The Health Factory

Health-focused bread brand The Health Factory has successfully secured $3.5 million in seed funding, led by Peak XV’s Surge. This͏͏ significant͏͏ investment͏͏ marks͏͏ a͏͏ key͏͏ milestone͏͏ for͏͏ the͏͏ company͏͏ as͏͏ it͏͏ aims͏͏ to͏͏ transform͏͏ the͏͏ bread͏͏ market͏͏ with͏͏ an͏͏ emphasis͏͏ on͏͏ quality,͏͏ authenticity,͏͏ and͏͏ consumer͏͏ well-being.

The Health Factory’s͏͏ Innovative͏͏ Product͏͏ Lineup:

Established͏͏ in͏͏ 2018͏͏ by͏͏ Vinay Maheshwari, Mohit Sankhala, and bakery expert Jos Vast,͏͏ The͏͏ Health͏͏ Factory͏͏ is͏͏ acclaimed͏͏ for͏͏ its͏͏ innovative͏͏ product͏͏ lineup,͏͏ which͏͏ features͏͏ India’s͏͏ first͏͏ Protein͏͏ Bread͏͏ and͏͏ Vegan͏͏ Protein͏͏ Bread.͏͏ The͏͏ brand͏͏ also͏͏ offers͏͏ a͏͏ popular͏͏ zero͏͏ maida͏͏ bread,͏͏ with͏͏ all͏͏ products͏͏ free͏͏ from͏͏ chemicals͏͏ and͏͏ preservatives.͏͏ The͏͏ Health͏͏ Factory’s͏͏ products͏͏ are͏͏ widely͏͏ available͏͏ in͏͏ major͏͏ cities͏͏ including͏͏ Mumbai,͏͏ Pune,͏͏ Bangalore,͏͏ Delhi,͏͏ Chandigarh,͏͏ Ahmedabad,͏͏ Lucknow,͏͏ Hyderabad,͏͏ and͏͏ Chennai,͏͏ and͏͏ can͏͏ be͏͏ purchased͏͏ through͏͏ top͏͏ quick͏͏ commerce͏͏ platforms͏͏ like͏͏ Zepto,͏͏ Swiggy͏͏ Instamart,͏͏ and͏͏ BlinkIt.

Continue͏͏ Exploring:͏͏ Bakery͏͏ startup͏͏ Creme͏͏ Castle͏͏ secures͏͏ INR͏͏ 7͏͏ Cr͏͏ in͏͏ seed͏͏ funding,͏͏ eyes͏͏ rapid͏͏ expansion͏͏ amidst͏͏ booming͏͏ Indian͏͏ market

Expanding͏͏ Market͏͏ Presence:

Recently,͏͏ the͏͏ company͏͏ has͏͏ ventured͏͏ into͏͏ new͏͏ markets,͏͏ such͏͏ as͏͏ Chandigarh,͏͏ Ahmedabad,͏͏ Lucknow,͏͏ Chennai,͏͏ and͏͏ Hyderabad.͏͏ With͏͏ the͏͏ increasing͏͏ demand͏͏ for͏͏ healthier͏͏ bread͏͏ options,͏͏ The͏͏ Health͏͏ Factory͏͏ aims͏͏ to͏͏ broaden͏͏ its͏͏ presence͏͏ in͏͏ both͏͏ Tier͏͏ I͏͏ and͏͏ Tier͏͏ II͏͏ cities.͏͏ The͏͏ newly͏͏ acquired͏͏ funding͏͏ will͏͏ boost͏͏ these͏͏ efforts,͏͏ allowing͏͏ the͏͏ company͏͏ to͏͏ prioritise͏͏ product͏͏ development,͏͏ research,͏͏ and͏͏ innovation.͏͏ It͏͏ also͏͏ intends͏͏ to͏͏ strengthen͏͏ its͏͏ retail͏͏ footprint͏͏ in͏͏ general͏͏ and͏͏ modern͏͏ trade͏͏ channels͏͏ while͏͏ optimising͏͏ logistics͏͏ and͏͏ operational͏͏ technologies͏͏ to͏͏ facilitate͏͏ its͏͏ rapid͏͏ expansion.

Vinay͏͏ Maheshwari,͏͏ Founder͏͏ of͏͏ The͏͏ Health͏͏ Factory,͏͏ stated,͏͏ “We͏͏ are͏͏ excited͏͏ to͏͏ have͏͏ the͏͏ support͏͏ of͏͏ Peak͏͏ XV’s͏͏ Surge,͏͏ along͏͏ with͏͏ Kartik͏͏ Mehta,͏͏ Ali͏͏ Tambawala,͏͏ and͏͏ Sunil͏͏ Tulsiani,͏͏ as͏͏ we͏͏ embark͏͏ on͏͏ our͏͏ next͏͏ growth͏͏ phase.͏͏ This͏͏ investment͏͏ will͏͏ empower͏͏ us͏͏ to͏͏ penetrate͏͏ new͏͏ markets͏͏ with͏͏ our͏͏ health-focused͏͏ offerings.͏͏ We͏͏ have͏͏ seen͏͏ significant͏͏ interest͏͏ from͏͏ various͏͏ Tier͏͏ I͏͏ and͏͏ Tier͏͏ II͏͏ cities,͏͏ and͏͏ this͏͏ funding͏͏ will͏͏ enable͏͏ us͏͏ to͏͏ extend͏͏ our͏͏ reach͏͏ to͏͏ more͏͏ pin͏͏ codes,͏͏ ensuring͏͏ our͏͏ products͏͏ are͏͏ accessible͏͏ to͏͏ more͏͏ consumers͏͏ seeking͏͏ healthier͏͏ options.”

The͏͏ Health͏͏ Factory͏͏ has͏͏ experienced͏͏ significant͏͏ growth͏͏ over͏͏ the͏͏ past͏͏ 24͏͏ months,͏͏ with͏͏ sales͏͏ soaring͏͏ by͏͏ 65x.͏͏ This͏͏ funding͏͏ will͏͏ play͏͏ a͏͏ vital͏͏ role͏͏ in͏͏ broadening͏͏ the͏͏ brand’s͏͏ retail͏͏ footprint,͏͏ ensuring͏͏ its͏͏ health-focused͏͏ bread͏͏ products͏͏ are͏͏ more͏͏ accessible͏͏ to͏͏ consumers͏͏ throughout͏͏ India.͏͏ The͏͏ company͏͏ is͏͏ poised͏͏ to͏͏ drive͏͏ a͏͏ change͏͏ in͏͏ the͏͏ way͏͏ healthy͏͏ bread͏͏ is͏͏ consumed,͏͏ with͏͏ a͏͏ bright͏͏ future͏͏ as͏͏ it͏͏ remains͏͏ committed͏͏ to͏͏ offering͏͏ wholesome͏͏ and͏͏ nutritious͏͏ options͏͏ for͏͏ the͏͏ modern͏͏ consumer.

Continue͏͏ Exploring:͏͏ Belgian͏͏ bakery͏͏ brand͏͏ Le͏͏ Pain͏͏ Quotidien͏͏ re-enters͏͏ Indian͏͏ market,͏͏ plans͏͏ 100͏͏ outlets͏͏ by͏͏ 2035

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Swiggy attracts celebrity investors: Rahul Dravid, Karan Johar & others invest in pre-IPO round

By
M Haziq Pandit
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0
Swiggy

Cricketers Rahul Dravid and Zaheer Khan, tennis star Rohan Bopanna, director Karan Johar, and actor-entrepreneur Ashish Chowdhry are the latest celebrities backing foodtech giant Swiggy in its pre-IPO funding round.

However,͏͏ the͏͏ details͏͏ of͏͏ the͏͏ financial͏͏ transactions͏͏ remain͏͏ confidential.

According͏͏ to͏͏ ET,͏͏ this͏͏ investment͏͏ is͏͏ part͏͏ of͏͏ Swiggy’s͏͏ pre-IPO͏͏ shares͏͏ being͏͏ traded͏͏ in͏͏ the͏͏ unlisted͏͏ market,͏͏ with͏͏ approximately͏͏ 200,000͏͏ shares͏͏ already͏͏ acquired͏͏ by͏͏ notable͏͏ individuals.

This͏͏ development͏͏ comes͏͏ as͏͏ sports͏͏ and͏͏ entertainment͏͏ celebrities͏͏ rush͏͏ to͏͏ acquire͏͏ a͏͏ stake͏͏ in͏͏ Swiggy’s͏͏ pre-IPO͏͏ shares.

Recent͏͏ Celebrity Stake͏͏ Acquisitions:

Last͏͏ week,͏͏ actor͏͏ Madhuri͏͏ Dixit͏͏ became͏͏ the͏͏ second͏͏ Indian͏͏ celebrity,͏͏ following͏͏ Amitabh͏͏ Bachchan,͏͏ to͏͏ acquire͏͏ a͏͏ stake͏͏ in͏͏ Swiggy.

Continue͏͏ Exploring:͏͏ After͏͏ Amitabh͏͏ Bachchan,͏͏ Madhuri͏͏ Dixit͏͏ acquires͏͏ stake͏͏ in͏͏ IPO-bound͏͏ Swiggy

Earlier͏͏ this͏͏ month,͏͏ listed͏͏ porcelain͏͏ insulator͏͏ manufacturer͏͏ Modern͏͏ Insulators͏͏ purchased͏͏ shares͏͏ in͏͏ Swiggy͏͏ valued͏͏ at͏͏ nearly͏͏ INR͏͏ 5͏͏ crore.͏͏ Meanwhile,͏͏ Hindustan͏͏ Composites͏͏ announced͏͏ its͏͏ plan͏͏ to͏͏ acquire͏͏ 150,000͏͏ shares,͏͏ representing͏͏ a͏͏ 0.01%͏͏ stake,͏͏ in͏͏ Swiggy͏͏ for͏͏ a͏͏ cash͏͏ consideration͏͏ of͏͏ INR͏͏ 5.17͏͏ crore.

SEBI͏͏ Approval͏͏ for͏͏ IPO:

On͏͏ September͏͏ 24,͏͏ the͏͏ foodtech͏͏ giant͏͏ received͏͏ approval͏͏ from͏͏ the͏͏ Securities͏͏ and͏͏ Exchange͏͏ Board͏͏ of͏͏ India͏͏ (SEBI)͏͏ for͏͏ its͏͏ initial͏͏ public͏͏ offering.

Continue͏͏ Exploring:͏͏ Swiggy gets͏͏ SEBI͏͏ nod͏͏ for͏͏ IPO,͏͏ eyes͏͏ November͏͏ listing

Following͏͏ the͏͏ approval,͏͏ the͏͏ startup͏͏ will͏͏ now͏͏ submit͏͏ two͏͏ updated͏͏ draft͏͏ red͏͏ herring͏͏ prospectuses͏͏ (DRHPs)͏͏ —͏͏ one͏͏ addressing͏͏ SEBI’s͏͏ comments͏͏ on͏͏ its͏͏ confidential͏͏ DRHP͏͏ and͏͏ another͏͏ soliciting͏͏ public͏͏ comments,͏͏ Moneycontrol͏͏ reported,͏͏ citing͏͏ sources.

Anticipated͏͏ IPO͏͏ Size:

While͏͏ the͏͏ precise͏͏ size͏͏ of͏͏ the͏͏ public͏͏ offer͏͏ has͏͏ not͏͏ yet͏͏ been͏͏ disclosed,͏͏ the͏͏ startup͏͏ is͏͏ expected͏͏ to͏͏ aim͏͏ for͏͏ $1.4͏͏ billion͏͏ through͏͏ its͏͏ IPO.

For͏͏ those͏͏ unfamiliar,͏͏ Swiggy͏͏ filed͏͏ for͏͏ an͏͏ IPO͏͏ through͏͏ a͏͏ confidential͏͏ pre-filing͏͏ route͏͏ with͏͏ SEBI͏͏ in͏͏ April,͏͏ targeting͏͏ a͏͏ fresh͏͏ issue͏͏ of͏͏ equity͏͏ shares͏͏ valued͏͏ at͏͏ INR͏͏ 3,750͏͏ crore͏͏ ($450͏͏ million)͏͏ and͏͏ a͏͏ total͏͏ offer-for-sale͏͏ (OFS)͏͏ component͏͏ worth͏͏ INR͏͏ 6,664͏͏ crore.

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

Swiggy’s͏͏ IPO͏͏ is͏͏ taking͏͏ place͏͏ despite͏͏ the͏͏ company͏͏ not͏͏ yet͏͏ achieving͏͏ profitability.͏͏ In͏͏ contrast,͏͏ its͏͏ competitor͏͏ Zomato͏͏ has͏͏ been͏͏ steadily͏͏ improving͏͏ its͏͏ profit͏͏ margins͏͏ since͏͏ reporting͏͏ its͏͏ first͏͏ profit͏͏ in͏͏ Q1͏͏ FY24.

However,͏͏ the͏͏ silver͏͏ lining͏͏ is͏͏ that͏͏ the͏͏ foodtech͏͏ giant͏͏ has͏͏ succeeded͏͏ in͏͏ reducing͏͏ its͏͏ losses͏͏ in͏͏ FY24.͏͏ The͏͏ total͏͏ loss͏͏ for͏͏ the͏͏ year͏͏ 2023-24͏͏ (FY24)͏͏ stood͏͏ at͏͏ INR͏͏ 2,350.2͏͏ crore,͏͏ reflecting͏͏ a͏͏ 43%͏͏ decrease͏͏ from͏͏ the͏͏ INR͏͏ 4,179.3͏͏ crore͏͏ loss͏͏ recorded͏͏ in͏͏ FY23.

In͏͏ terms͏͏ of͏͏ market͏͏ share,͏͏ Swiggy’s͏͏ quick͏͏ commerce͏͏ division,͏͏ Instamart,͏͏ has͏͏ been͏͏ losing͏͏ ground͏͏ to͏͏ competitors͏͏ Blinkit͏͏ and͏͏ Zepto.͏͏ Currently,͏͏ Zomato’s͏͏ Blinkit͏͏ leads͏͏ the͏͏ market,͏͏ while͏͏ Zepto͏͏ has͏͏ secured͏͏ millions͏͏ of͏͏ dollars͏͏ in͏͏ funding͏͏ in͏͏ recent͏͏ months.

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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Organised apparel retailers to clock 8-10% revenue growth this fiscal year

By
M Haziq Pandit
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0
apparel

The festive and wedding seasons, along with a growing preference for fast fashion, are expected to drive the organised retail apparel sector to achieve revenue growth of 8-10% this financial year, according͏͏ to͏͏ a͏͏ report.

Drivers͏͏ of͏͏ Growth:

According͏͏ to͏͏ a͏͏ report͏͏ by͏͏ Crisil͏͏ Ratings,͏͏ the͏͏ organised͏͏ retail͏͏ apparel͏͏ sector͏͏ is͏͏ projected͏͏ to͏͏ achieve͏͏ revenue͏͏ growth͏͏ of͏͏ 8-10%͏͏ this͏͏ fiscal͏͏ year,͏͏ driven͏͏ by͏͏ increased͏͏ demand͏͏ due͏͏ to͏͏ a͏͏ normal͏͏ monsoon,͏͏ easing͏͏ inflation,͏͏ the͏͏ festive͏͏ and͏͏ wedding͏͏ seasons,͏͏ and͏͏ a͏͏ rising͏͏ preference͏͏ for͏͏ fast͏͏ fashion—affordable,͏͏ trendy͏͏ clothing͏͏ that͏͏ imitates͏͏ high͏͏ fashion͏͏ designs͏͏ and͏͏ popular͏͏ styles.

Continue͏͏ Exploring:͏͏ India’s͏͏ fast͏͏ fa͏͏sh͏i͏on industry͏͏ set͏͏ to͏͏ reach͏͏ $50͏͏ Billion͏͏ by͏͏ FY31:͏͏ Report

Shifts͏͏ in͏͏ Market͏͏ Dynamics:

Crisil͏͏ Ratings͏͏ Senior͏͏ Director͏͏ Anuj͏͏ Sethi͏͏ stated,͏͏ “The͏͏ mass͏͏ market͏͏ segment͏͏ now͏͏ represents͏͏ 60%͏͏ of͏͏ total͏͏ sales,͏͏ up͏͏ from͏͏ 56%͏͏ before͏͏ the͏͏ pandemic,͏͏ largely͏͏ due͏͏ to͏͏ the͏͏ growing͏͏ popularity͏͏ of͏͏ fast͏͏ fashion,͏͏ which͏͏ is͏͏ anticipated͏͏ to͏͏ be͏͏ the͏͏ main͏͏ revenue͏͏ driver͏͏ this͏͏ fiscal͏͏ year.͏͏ Additionally,͏͏ the͏͏ expected͏͏ rise͏͏ in͏͏ demand͏͏ for͏͏ premium͏͏ clothing͏͏ during͏͏ the͏͏ forthcoming͏͏ festive͏͏ and͏͏ wedding͏͏ seasons͏͏ will͏͏ further͏͏ support͏͏ overall͏͏ revenue͏͏ growth͏͏ of͏͏ 8-10%͏͏ this͏͏ fiscal.”

However,͏͏ revenue͏͏ growth͏͏ is͏͏ expected͏͏ to͏͏ be͏͏ slower͏͏ than͏͏ the͏͏ compound͏͏ annual͏͏ growth͏͏ rate͏͏ of͏͏ 11-12%͏͏ observed͏͏ between͏͏ fiscals͏͏ 2018͏͏ and͏͏ 2023,͏͏ leading͏͏ retailers͏͏ to͏͏ exercise͏͏ caution͏͏ in͏͏ opening͏͏ new͏͏ stores,͏͏ the͏͏ report͏͏ highlighted.

Instead,͏͏ retailers͏͏ will͏͏ prioritise͏͏ improving͏͏ efficiencies͏͏ at͏͏ existing͏͏ stores,͏͏ managing͏͏ costs,͏͏ and͏͏ reducing͏͏ dependence͏͏ on͏͏ external͏͏ debt.͏͏ This͏͏ approach͏͏ will͏͏ help͏͏ maintain͏͏ their͏͏ operating͏͏ margin͏͏ at͏͏ 7.2-7.4%,͏͏ despite͏͏ ongoing͏͏ high͏͏ marketing͏͏ expenses,͏͏ thereby͏͏ ensuring͏͏ stable͏͏ credit͏͏ profiles,͏͏ the͏͏ report͏͏ noted.

In͏͏ the͏͏ apparel͏͏ retail͏͏ sector,͏͏ the͏͏ largest͏͏ segment͏͏ is͏͏ the͏͏ mass͏͏ market,͏͏ followed͏͏ by͏͏ premium͏͏ and͏͏ luxury͏͏ segments.

Fast͏͏ fashion,͏͏ an͏͏ expanding͏͏ segment͏͏ of͏͏ the͏͏ mass͏͏ market,͏͏ provides͏͏ the͏͏ latest͏͏ trends͏͏ that͏͏ are͏͏ frequently͏͏ updated͏͏ throughout͏͏ the͏͏ season,͏͏ with͏͏ shorter͏͏ lead͏͏ times͏͏ to͏͏ ensure͏͏ quick͏͏ delivery͏͏ to͏͏ customers.

The͏͏ report͏͏ indicated͏͏ that͏͏ retailers͏͏ are͏͏ adapting͏͏ their͏͏ business͏͏ strategies,͏͏ improving͏͏ supply͏͏ chain͏͏ efficiency,͏͏ and͏͏ concentrating͏͏ on͏͏ new͏͏ trends—especially͏͏ in͏͏ fast͏͏ fashion—to͏͏ align͏͏ with͏͏ changing͏͏ consumer͏͏ behaviour.

Changing͏͏ Consumer͏͏ Behaviour:

As͏͏ consumer͏͏ spending͏͏ increasingly͏͏ shifts͏͏ towards͏͏ travel͏͏ experiences͏͏ and͏͏ luxury͏͏ goods͏͏ in͏͏ major͏͏ urban͏͏ areas,͏͏ retailers͏͏ will͏͏ exercise͏͏ caution͏͏ in͏͏ expanding͏͏ stores͏͏ there,͏͏ while͏͏ continuing͏͏ to͏͏ grow͏͏ in͏͏ tier͏͏ II͏͏ and͏͏ III͏͏ cities͏͏ that͏͏ are͏͏ moving͏͏ towards͏͏ organised͏͏ retail.

The͏͏ report͏͏ stated͏͏ that͏͏ area͏͏ additions͏͏ will͏͏ decline͏͏ year-on-year͏͏ to͏͏ 2.2͏͏ million͏͏ square͏͏ feet,͏͏ down͏͏ from͏͏ 3.6͏͏ million͏͏ square͏͏ feet͏͏ last͏͏ fiscal,͏͏ as͏͏ store͏͏ sizes͏͏ will͏͏ be͏͏ smaller.

Meanwhile,͏͏ Crisil͏͏ Ratings͏͏ noted͏͏ that͏͏ revenue͏͏ density͏͏ is͏͏ projected͏͏ to͏͏ remain͏͏ flat͏͏ at͏͏ INR͏͏ 11,900͏͏ per͏͏ square͏͏ foot,͏͏ attributed͏͏ to͏͏ subdued͏͏ growth͏͏ in͏͏ same-store͏͏ sales,͏͏ which͏͏ will͏͏ limit͏͏ substantial͏͏ improvements͏͏ in͏͏ profitability.

Crisil͏͏ Ratings͏͏ Associate͏͏ Director͏͏ Anil͏͏ More͏͏ stated,͏͏ “The͏͏ slight͏͏ increase͏͏ in͏͏ profitability͏͏ this͏͏ fiscal͏͏ will͏͏ stem͏͏ from͏͏ apparel͏͏ retailers͏͏ streamlining͏͏ their͏͏ existing͏͏ stores͏͏ and͏͏ opening͏͏ new͏͏ ones͏͏ only͏͏ as͏͏ needed,͏͏ as͏͏ demand͏͏ has͏͏ not͏͏ fully͏͏ rebounded.͏͏ Additionally,͏͏ the͏͏ necessity͏͏ to͏͏ provide͏͏ higher͏͏ discounts͏͏ and͏͏ increase͏͏ marketing͏͏ expenses͏͏ to͏͏ attract͏͏ customers͏͏ will͏͏ constrain͏͏ the͏͏ overall͏͏ improvement͏͏ in͏͏ operating͏͏ margin͏͏ to͏͏ 7.2-7.4%,͏͏ compared͏͏ to͏͏ 7%͏͏ in͏͏ fiscal͏͏ 2024.”

The͏͏ report͏͏ indicates͏͏ that͏͏ improved͏͏ inventory͏͏ management͏͏ and͏͏ stable͏͏ input͏͏ costs͏͏ will͏͏ help͏͏ avoid͏͏ significant͏͏ inventory͏͏ write-offs,͏͏ unlike͏͏ last͏͏ fiscal͏͏ year͏͏ when͏͏ sharp͏͏ cost͏͏ fluctuations͏͏ reduced͏͏ profitability͏͏ by͏͏ 100-110͏͏ basis͏͏ points.

Steady͏͏ cash͏͏ flow͏͏ and͏͏ minimal͏͏ reliance͏͏ on͏͏ debt͏͏ for͏͏ funding͏͏ store͏͏ expansion͏͏ will͏͏ result͏͏ in͏͏ strong͏͏ debt͏͏ metrics.

The͏͏ interest͏͏ coverage͏͏ and͏͏ total͏͏ debt/EBITDA͏͏ (earnings͏͏ before͏͏ interest,͏͏ taxes,͏͏ depreciation,͏͏ and͏͏ amortisation)͏͏ ratios͏͏ for͏͏ apparel͏͏ retailers͏͏ are͏͏ projected͏͏ to͏͏ be͏͏ 6.2͏͏ times͏͏ and͏͏ 1.7͏͏ times,͏͏ respectively,͏͏ in͏͏ 2024-25,͏͏ consistent͏͏ with͏͏ last͏͏ fiscal͏͏ year,͏͏ the͏͏ report͏͏ added.

However,͏͏ the͏͏ report͏͏ cautioned͏͏ that͏͏ changes͏͏ in͏͏ commodity͏͏ prices,͏͏ inflation͏͏ trends,͏͏ consumer͏͏ spending͏͏ behaviour,͏͏ and͏͏ retailers’͏͏ ability͏͏ to͏͏ maintain͏͏ momentum͏͏ in͏͏ the͏͏ fast͏͏ fashion͏͏ segment͏͏ should͏͏ be͏͏ closely͏͏ monitored.

Continue͏͏ Exploring:͏͏ India’s͏͏ apparel retail industry͏͏ to͏͏ continue͏͏ growing͏͏ with͏͏ rising͏͏ incomes͏͏ and͏͏ demand͏͏ for͏͏ affordable͏͏ fashion:͏͏ Centrum

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Over 30% of shoppers rely on quick commerce for essentials: NielsenIQ

By
M Haziq Pandit
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0
Quick commerce

Quick commerce has become a key growth driver in grocery shopping, with 31% of Indian shoppers depending on it for their essential grocery needs͏͏ and͏͏ 39%͏͏ using͏͏ these͏͏ platforms͏͏ for͏͏ top-up͏͏ purchases,͏͏ according͏͏ to͏͏ a͏͏ NielsenIQ Shopper Trends 2024 report.

The͏͏ research͏͏ and͏͏ analytics͏͏ company’s͏͏ report͏͏ highlighted͏͏ that͏͏ 42%͏͏ of͏͏ shoppers͏͏ utilise͏͏ quick͏͏ commerce͏͏ for͏͏ ready-to-eat͏͏ meals,͏͏ while͏͏ 45%͏͏ do͏͏ so͏͏ for͏͏ salty͏͏ snacks.

The͏͏ report͏͏ stated͏͏ that͏͏ economic͏͏ challenges͏͏ and͏͏ changing͏͏ preferences͏͏ are͏͏ prompting͏͏ more͏͏ shoppers͏͏ to͏͏ adjust͏͏ to͏͏ rising͏͏ food͏͏ prices,͏͏ explore͏͏ new͏͏ shopping͏͏ channels,͏͏ and͏͏ embrace͏͏ innovations͏͏ in͏͏ product͏͏ categories.

Continue͏͏ Exploring:͏͏ Quick commerce set͏͏ to͏͏ drive͏͏ India’s͏͏ gross͏͏ order͏͏ value͏͏ to͏͏ USD͏͏ 10͏͏ Bn͏͏ by͏͏ FY26

Demand͏͏ for͏͏ Convenience͏͏ and͏͏ Value:

Mitesh͏͏ Dabrai,͏͏ Executive͏͏ Director͏͏ of͏͏ Consumer͏͏ &͏͏ Marketing͏͏ Insights͏͏ at͏͏ NIQ,͏͏ stated:͏͏ “Today’s͏͏ shoppers͏͏ are͏͏ increasingly͏͏ discerning,͏͏ price-conscious,͏͏ and͏͏ channel-agnostic.͏͏ The͏͏ surge͏͏ in͏͏ quick͏͏ commerce͏͏ usage͏͏ highlights͏͏ the͏͏ urgent͏͏ need͏͏ for͏͏ FMCG͏͏ brands͏͏ to͏͏ prioritise͏͏ convenience͏͏ and͏͏ speed͏͏ while͏͏ also͏͏ addressing͏͏ value͏͏ perceptions.”

The͏͏ report͏͏ indicated͏͏ that͏͏ with͏͏ 87%͏͏ of͏͏ shoppers͏͏ feeling͏͏ the͏͏ effects͏͏ of͏͏ rising͏͏ food͏͏ prices,͏͏ businesses͏͏ must͏͏ concentrate͏͏ on͏͏ strategic͏͏ pricing͏͏ and͏͏ promotions͏͏ to͏͏ sustain͏͏ shopper͏͏ loyalty.͏͏ It͏͏ also͏͏ noted͏͏ that͏͏ 67%͏͏ of͏͏ shoppers͏͏ actively͏͏ seek͏͏ premium͏͏ private͏͏ labels.

E-commerce͏͏ Gains͏͏ Traction͏͏ for͏͏ Monthly͏͏ Purchases:

The͏͏ report͏͏ reveals͏͏ that͏͏ shoppers͏͏ are͏͏ increasingly͏͏ using͏͏ online͏͏ platforms͏͏ not͏͏ just͏͏ for͏͏ fill-in͏͏ shopping͏͏ but͏͏ also͏͏ for͏͏ their͏͏ monthly͏͏ purchases,͏͏ with͏͏ both͏͏ categories͏͏ experiencing͏͏ growth͏͏ across͏͏ all͏͏ trade͏͏ types.͏͏ E-commerce͏͏ platforms͏͏ are͏͏ becoming͏͏ a͏͏ preferred͏͏ choice͏͏ for͏͏ essential͏͏ staples,͏͏ as͏͏ 60%͏͏ of͏͏ shoppers͏͏ in͏͏ India͏͏ are͏͏ now͏͏ opting͏͏ for͏͏ online͏͏ channels͏͏ for͏͏ these͏͏ purchases.

The͏͏ report͏͏ also͏͏ highlighted͏͏ that͏͏ promotions͏͏ significantly͏͏ impact͏͏ store͏͏ and͏͏ brand͏͏ selection,͏͏ with͏͏ 40%͏͏ of͏͏ modern͏͏ trade͏͏ shoppers͏͏ changing͏͏ stores͏͏ in͏͏ response͏͏ to͏͏ promotional͏͏ offers.

“As͏͏ shoppers͏͏ increasingly͏͏ adopt͏͏ multichannel͏͏ shopping,͏͏ 20%͏͏ of͏͏ offline͏͏ shoppers͏͏ are͏͏ also͏͏ turning͏͏ to͏͏ online͏͏ stores͏͏ for͏͏ their͏͏ grocery͏͏ needs.͏͏ Additionally,͏͏ non-metro͏͏ shoppers͏͏ are͏͏ increasingly͏͏ using͏͏ online͏͏ stores͏͏ for͏͏ top-up͏͏ purchases,”͏͏ it͏͏ added.

Price͏͏ Sensitivity͏͏ Across͏͏ Categories:

The͏͏ report͏͏ noted͏͏ that͏͏ staples,͏͏ fresh͏͏ foods,͏͏ and͏͏ snacks͏͏ are͏͏ among͏͏ the͏͏ categories͏͏ most͏͏ impacted͏͏ by͏͏ price͏͏ sensitivity.͏͏ In͏͏ non-food͏͏ categories͏͏ like͏͏ laundry͏͏ and͏͏ dental͏͏ care͏͏ products,͏͏ shoppers͏͏ are͏͏ exhibiting͏͏ similar͏͏ cost-saving͏͏ behaviours.

Continue͏͏ Exploring:͏͏ New͏͏ ‘enabler’͏͏ startups͏͏ emerge͏͏ as͏͏ quick commerce gains͏͏ traction

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Reliance Industries launches R&D centre to drive innovation in consumer goods

By
M Haziq Pandit
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0
Reliance Industries

Reliance Industries Limited (RIL) has established an R&D centre to develop and test products in its consumer goods division, focusing͏͏ on͏͏ the͏͏ food,͏͏ home,͏͏ and͏͏ personal͏͏ care͏͏ categories.͏͏ The͏͏ company͏͏ is͏͏ also͏͏ experimenting͏͏ with͏͏ nano͏͏ factories͏͏ to͏͏ produce͏͏ and͏͏ package͏͏ small͏͏ batches͏͏ for͏͏ trial͏͏ launches.

Continue͏͏ Exploring:͏͏ Reliance Industries pumps͏͏ INR͏͏ 15,000͏͏ Cr͏͏ into͏͏ Reliance͏͏ Retail͏͏ for͏͏ expansion͏͏ and͏͏ new͏͏ store͏͏ formats

State-of-the-Art͏͏ Facility:

“The͏͏ new͏͏ 150,000͏͏ sq͏͏ ft͏͏ centre͏͏ in͏͏ Whitefield,͏͏ Bengaluru,͏͏ has͏͏ already͏͏ brought͏͏ on͏͏ board͏͏ 50͏͏ scientists͏͏ and͏͏ 100͏͏ support͏͏ staff,”͏͏ said͏͏ two͏͏ officials͏͏ familiar͏͏ with͏͏ the͏͏ development.͏͏ “Once͏͏ completed,͏͏ this͏͏ facility͏͏ will͏͏ be͏͏ among͏͏ the͏͏ first͏͏ fully͏͏ integrated͏͏ centres,͏͏ featuring͏͏ an͏͏ R&D͏͏ unit͏͏ for͏͏ product͏͏ development͏͏ across͏͏ various͏͏ categories,͏͏ a͏͏ consumer͏͏ engagement͏͏ centre͏͏ for͏͏ live͏͏ experiences͏͏ and͏͏ feedback,͏͏ and͏͏ pilot͏͏ manufacturing͏͏ capabilities͏͏ to͏͏ produce͏͏ small͏͏ batches͏͏ of͏͏ newly͏͏ developed͏͏ products͏͏ for͏͏ sampling͏͏ and͏͏ test͏͏ marketing.”

The͏͏ initiative͏͏ is͏͏ part͏͏ of͏͏ Reliance’s͏͏ broader͏͏ strategy͏͏ to͏͏ enter͏͏ and͏͏ expand͏͏ its͏͏ presence͏͏ across͏͏ various͏͏ consumer͏͏ categories.

Continue͏͏ Exploring:͏͏ Reliance Industries targets͏͏ consumer͏͏ durables͏͏ market͏͏ with͏͏ Wyzr͏͏ brand͏͏ expansion

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French retailer Carrefour to open 50 stores in Northern India over the next five years

By
M Haziq Pandit
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0
Carrefour

French retailer Carrefour, which recently announced a strategic partnership with Apparel Group to enter India, plans to open 50 stores in northern India over the next five years, according to Patrick Lasfargues,͏͏ executive͏͏ director͏͏ of͏͏ international͏͏ partnerships͏͏ at͏͏ Carrefour.

Initial͏͏ Launch͏͏ in͏͏ Delhi/NCR:

During͏͏ the͏͏ first͏͏ phase,͏͏ set͏͏ for͏͏ summer͏͏ 2025͏͏ to͏͏ summer͏͏ 2026,͏͏ the͏͏ company͏͏ plans͏͏ to͏͏ launch͏͏ its͏͏ initial͏͏ five͏͏ stores͏͏ in͏͏ the͏͏ Delhi/NCR͏͏ area.

“India͏͏ is͏͏ experiencing͏͏ significant͏͏ economic͏͏ growth,͏͏ with͏͏ improvements͏͏ in͏͏ GDP͏͏ and͏͏ per͏͏ capita͏͏ income,͏͏ while͏͏ the͏͏ middle͏͏ class͏͏ is͏͏ becoming͏͏ increasingly͏͏ aspirational.͏͏ This͏͏ creates͏͏ an͏͏ ideal͏͏ strategic͏͏ framework͏͏ for͏͏ our͏͏ expansion͏͏ in͏͏ India.͏͏ We͏͏ are͏͏ very͏͏ optimistic͏͏ about͏͏ the͏͏ Indian͏͏ market͏͏ this͏͏ time,”͏͏ he͏͏ stated.

Continue͏͏ Exploring:͏͏ French retailer Carrefour to͏͏ re-enter͏͏ India͏͏ with͏͏ franchise͏͏ partnership͏͏ with͏͏ Apparel͏͏ Group

“We͏͏ left͏͏ India͏͏ in͏͏ 2014͏͏ because͏͏ the͏͏ group’s͏͏ focus͏͏ was͏͏ not͏͏ optimal,͏͏ given͏͏ its͏͏ operations͏͏ in͏͏ multiple͏͏ countries.͏͏ The͏͏ group͏͏ had͏͏ to͏͏ reevaluate͏͏ its͏͏ strategy,͏͏ and͏͏ at͏͏ that͏͏ point,͏͏ we͏͏ seemed͏͏ to͏͏ lack͏͏ the͏͏ patience͏͏ to͏͏ persist͏͏ in͏͏ the͏͏ market.͏͏ Furthermore,͏͏ India͏͏ was͏͏ a͏͏ particularly͏͏ complex͏͏ environment,”͏͏ he͏͏ added.

Embracing͏͏ a͏͏ B2C͏͏ Strategy:

Rather͏͏ than͏͏ adopting͏͏ a͏͏ cash-and-carry͏͏ format,͏͏ the͏͏ company͏͏ is͏͏ pursuing͏͏ a͏͏ B2C͏͏ strategy͏͏ this͏͏ time.͏͏ It͏͏ plans͏͏ to͏͏ launch͏͏ its͏͏ stores͏͏ in͏͏ three͏͏ different͏͏ formats:͏͏ supermarkets͏͏ covering͏͏ 8,000͏͏ sq.͏͏ ft.,͏͏ hypermarkets͏͏ covering͏͏ 30,000͏͏ sq.͏͏ ft.,͏͏ and͏͏ gourmet͏͏ stores͏͏ also͏͏ spanning͏͏ 8,000͏͏ sq.͏͏ ft.

“Carrefour,͏͏ in͏͏ partnership͏͏ with͏͏ Apparel͏͏ Group,͏͏ will͏͏ establish͏͏ a͏͏ team͏͏ of͏͏ experts͏͏ in͏͏ operations,͏͏ supply͏͏ chain,͏͏ private͏͏ label,͏͏ and͏͏ e-commerce͏͏ specifically͏͏ for͏͏ the͏͏ Indian͏͏ market,”͏͏ he͏͏ asserted.

In͏͏ addition͏͏ to͏͏ fresh͏͏ produce͏͏ and͏͏ food͏͏ and͏͏ grocery͏͏ items,͏͏ it͏͏ will͏͏ also͏͏ offer͏͏ non-food͏͏ products.

“In͏͏ India,͏͏ our͏͏ primary͏͏ focus͏͏ will͏͏ be͏͏ on͏͏ food,͏͏ with͏͏ non-food͏͏ items͏͏ constituting͏͏ a͏͏ smaller͏͏ portion,”͏͏ he͏͏ said.

When͏͏ asked͏͏ about͏͏ the͏͏ location͏͏ strategy,͏͏ he͏͏ stated,͏͏ “We͏͏ will͏͏ be͏͏ opening͏͏ stores͏͏ in͏͏ both͏͏ high͏͏ streets͏͏ and͏͏ malls.”

The͏͏ group͏͏ has͏͏ been͏͏ sourcing͏͏ non-food͏͏ products,͏͏ such͏͏ as͏͏ textiles,͏͏ in͏͏ India͏͏ for͏͏ a͏͏ considerable͏͏ time͏͏ and͏͏ will͏͏ soon͏͏ begin͏͏ planning͏͏ to͏͏ source͏͏ food͏͏ products͏͏ from͏͏ the͏͏ country.

“We͏͏ will͏͏ provide͏͏ the͏͏ highest͏͏ quality͏͏ products͏͏ at͏͏ the͏͏ most͏͏ affordable͏͏ prices,͏͏ thanks͏͏ to͏͏ our͏͏ strong͏͏ relationships͏͏ with͏͏ manufacturers͏͏ and͏͏ suppliers͏͏ worldwide,”͏͏ he͏͏ said.

The͏͏ company͏͏ is͏͏ also͏͏ looking͏͏ to͏͏ launch͏͏ its͏͏ private͏͏ labels͏͏ in͏͏ India.͏͏ While͏͏ he͏͏ did͏͏ not͏͏ disclose͏͏ the͏͏ exact͏͏ percentage͏͏ of͏͏ private͏͏ labels͏͏ in͏͏ relation͏͏ to͏͏ total͏͏ offerings,͏͏ he͏͏ noted,͏͏ “Currently,͏͏ in͏͏ France,͏͏ private͏͏ labels͏͏ represent͏͏ 37͏͏ percent͏͏ of͏͏ our͏͏ turnover,͏͏ indicating͏͏ significant͏͏ potential.”

It͏͏ will͏͏ soon͏͏ commence͏͏ its͏͏ online͏͏ operations͏͏ in͏͏ India,͏͏ aiming͏͏ to͏͏ establish͏͏ an͏͏ omnichannel͏͏ presence.

Future͏͏ Expansion͏͏ in͏͏ Tier͏͏ II͏͏ Cities:

“In͏͏ addition͏͏ to͏͏ our͏͏ online͏͏ presence,͏͏ we͏͏ also͏͏ plan͏͏ to͏͏ open͏͏ stores͏͏ in͏͏ tier͏͏ II͏͏ cities͏͏ and͏͏ beyond,”͏͏ he͏͏ asserted.

Currently,͏͏ Carrefour͏͏ operates͏͏ over͏͏ 14,000͏͏ stores͏͏ across͏͏ 40͏͏ countries.

Apparel͏͏ Group͏͏ has͏͏ a͏͏ presence͏͏ in͏͏ over͏͏ 2,300͏͏ retail͏͏ stores,͏͏ featuring͏͏ more͏͏ than͏͏ 85͏͏ brands͏͏ across͏͏ countries͏͏ such͏͏ as͏͏ the͏͏ UAE,͏͏ India,͏͏ South͏͏ Africa,͏͏ Singapore,͏͏ Indonesia,͏͏ Thailand,͏͏ Malaysia,͏͏ and͏͏ Egypt.͏͏ It͏͏ is͏͏ also͏͏ planning͏͏ to͏͏ expand͏͏ into͏͏ Hungary͏͏ and͏͏ the͏͏ Philippines͏͏ soon.

Continue͏͏ Exploring:͏͏ Reliance͏͏ Retail͏͏ among͏͏ top͏͏ 5͏͏ global͏͏ retailers͏͏ by͏͏ store͏͏ count,͏͏ eyes͏͏ doubling͏͏ business͏͏ in͏͏ 3-4͏͏ years

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DRRK Foods invests INR 20 Cr to open new packing unit near Mundra Port

By
M Haziq Pandit
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0
DRRK Foods

DRRK Foods, a producer of basmati rice, is investing INR 20 crore to establish a packing, grading, and sorting unit on 17 acres near Mundra Port. This new unit is expected to be operational by February 2025, according to Amit Marwaha, MD and CEO of DRRK Foods Pvt Ltd.

Current͏͏ Operations͏͏ and͏͏ Capacity:

The͏͏ company͏͏ currently͏͏ operates͏͏ three͏͏ state-of-the-art͏͏ rice͏͏ mills͏͏ in͏͏ Amritsar,͏͏ covering͏͏ an͏͏ area͏͏ of͏͏ 200,000͏͏ square͏͏ feet͏͏ and͏͏ processing͏͏ 650͏͏ metric͏͏ tons͏͏ of͏͏ paddy͏͏ daily.

New͏͏ Unit’s͏͏ Daily͏͏ Output:

He͏͏ stated͏͏ that͏͏ the͏͏ new͏͏ unit͏͏ will͏͏ be͏͏ capable͏͏ of͏͏ packing͏͏ 350͏͏ metric͏͏ tons͏͏ of͏͏ rice͏͏ daily͏͏ and͏͏ will͏͏ be͏͏ used͏͏ for͏͏ rice͏͏ exports.

“We͏͏ plan͏͏ to͏͏ open͏͏ another͏͏ unit͏͏ in͏͏ either͏͏ Haryana͏͏ or͏͏ Madhya͏͏ Pradesh͏͏ with͏͏ a͏͏ capacity͏͏ of͏͏ 600͏͏ metric͏͏ tons͏͏ per͏͏ day͏͏ for͏͏ paddy͏͏ crops,͏͏ and͏͏ we͏͏ will͏͏ invest͏͏ INR͏͏ 60-70͏͏ crore͏͏ in͏͏ this͏͏ facility,”͏͏ he͏͏ further͏͏ added.

DRRK Foods Focuses͏͏ on͏͏ Domestic͏͏ Market͏͏ Growth:

Moving͏͏ forward,͏͏ the͏͏ company͏͏ intends͏͏ to͏͏ focus͏͏ more͏͏ on͏͏ the͏͏ Indian͏͏ market͏͏ due͏͏ to͏͏ the͏͏ rising͏͏ consumption͏͏ of͏͏ basmati͏͏ rice͏͏ in͏͏ the͏͏ country.

He͏͏ asserted,͏͏ “Currently,͏͏ we͏͏ have͏͏ approximately͏͏ 70͏͏ distributors͏͏ across͏͏ India,͏͏ and͏͏ we͏͏ plan͏͏ to͏͏ increase͏͏ this͏͏ number͏͏ to͏͏ 200͏͏ within͏͏ the͏͏ next͏͏ two͏͏ years.”

Its͏͏ in-house͏͏ brand,͏͏ Crown,͏͏ is͏͏ available͏͏ in͏͏ general͏͏ trade͏͏ stores͏͏ and͏͏ major͏͏ e-commerce͏͏ platforms͏͏ across͏͏ India.͏͏ The͏͏ company͏͏ plans͏͏ to͏͏ expand͏͏ its͏͏ presence͏͏ into͏͏ quick͏͏ commerce͏͏ soon.

Continue͏͏ Exploring:͏͏ Crown͏͏ Rice͏͏ launches͏͏ premium͏͏ diet͏͏ rice͏͏ with͏͏ low͏͏ glycemic͏͏ index͏͏ for͏͏ health-conscious͏͏ consumers

The͏͏ company͏͏ is͏͏ currently͏͏ exporting͏͏ Crown͏͏ to͏͏ over͏͏ 15͏͏ countries͏͏ and͏͏ aims͏͏ to͏͏ expand͏͏ its͏͏ presence͏͏ to͏͏ as͏͏ many͏͏ as͏͏ 30͏͏ countries͏͏ by͏͏ the͏͏ end͏͏ of͏͏ the͏͏ next͏͏ fiscal͏͏ year.

He͏͏ stated,͏͏ “Currently,͏͏ Crown͏͏ accounts͏͏ for͏͏ 15͏͏ percent͏͏ of͏͏ our͏͏ revenue,͏͏ and͏͏ we͏͏ aim͏͏ to͏͏ double͏͏ this͏͏ figure͏͏ by͏͏ the͏͏ end͏͏ of͏͏ the͏͏ next͏͏ fiscal͏͏ year.”

Revenue͏͏ and͏͏ Profit͏͏ Targets:

The͏͏ company,͏͏ which͏͏ closed͏͏ the͏͏ last͏͏ fiscal͏͏ year͏͏ with͏͏ INR͏͏ 850͏͏ crore͏͏ in͏͏ revenue,͏͏ is͏͏ targeting͏͏ to͏͏ reach͏͏ INR͏͏ 1,000͏͏ crore͏͏ by͏͏ the͏͏ end͏͏ of͏͏ the͏͏ current͏͏ fiscal͏͏ year.

He͏͏ said,͏͏ “Eighty͏͏ percent͏͏ of͏͏ our͏͏ revenue͏͏ comes͏͏ from͏͏ exports,͏͏ while͏͏ the͏͏ remaining͏͏ 20͏͏ percent͏͏ is͏͏ generated͏͏ from͏͏ the͏͏ domestic͏͏ market.͏͏ We͏͏ have͏͏ maintained͏͏ a͏͏ net͏͏ profit͏͏ ratio͏͏ of͏͏ approximately͏͏ 7͏͏ percent͏͏ over͏͏ the͏͏ last͏͏ five͏͏ years.”

Currently,͏͏ the͏͏ company͏͏ exports͏͏ to͏͏ 40͏͏ countries͏͏ and͏͏ intends͏͏ to͏͏ begin͏͏ exporting͏͏ to͏͏ 10͏͏ additional͏͏ countries͏͏ by͏͏ the͏͏ end͏͏ of͏͏ the͏͏ next͏͏ fiscal͏͏ year.

He͏͏ asserted,͏͏ “We͏͏ are͏͏ also͏͏ targeting͏͏ a͏͏ 25͏͏ to͏͏ 30͏͏ percent͏͏ increase͏͏ in͏͏ export͏͏ volumes͏͏ this͏͏ year,͏͏ supported͏͏ by͏͏ improved͏͏ market͏͏ conditions.”

Moving͏͏ forward,͏͏ the͏͏ company͏͏ is͏͏ entering͏͏ the͏͏ spices͏͏ category͏͏ and͏͏ plans͏͏ to͏͏ launch͏͏ its͏͏ range͏͏ of͏͏ spices͏͏ within͏͏ the͏͏ next͏͏ 2-3͏͏ months.

Continue͏͏ Exploring:͏͏ India͏͏ Gate͏͏ basmati͏͏ rice͏͏ maker͏͏ KRBL͏͏ expands͏͏ to͏͏ UK͏͏ market͏͏ with͏͏ Tesco͏͏ partnership

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After ‘Milletious’ & diabetes products success Goodveda to expand offerings for other chronic illness; eyes 20-30% monthly growth

By
M Haziq Pandit
-
0
Goodveda

Health tech startup Goodveda Health Labs Pvt Ltd, known for its chronic illness-focused wellness programs and supplements, has set its sights on rapid expansion with a 20-30% month-on-month growth target. Founded by Abhishek Gaggneja, the Delhi-based startup is gaining traction with its new range of millet-based snacks, Milletious, designed to fill a critical gap in the health and wellness industry.

Sustainable Growth Strategy

Goodveda, which launched officially in September 2023, has garnered over 15,000 customers in less than a year of operations. With a strong online presence, the brand sees 85% of its sales coming through its website.

“95% of our online sales are directly through our website,” Gaggneja shared, emphasizing the brand’s focus on customer retention and personalized health programs. “We are seeing amazing month-on-month retention from our customers, upwards of 45%. This helps us balance the rising customer acquisition cost (CAC).”

Goodveda’s revenue trajectory is equally promising. Currently closing around INR 80 lakh per month, Gaggneja is focused on sustainable growth rather than aggressive cash burn.

“We’re targeting consistent growth of 20-30% month-on-month. We started from a much smaller base—around INR 25-30 lakh—so getting to INR 80 lakh is already a big step. I’m not planning to hit a specific number this year. I just want to keep my customers happy, grow in a sensible way, and not burn excess cash,” he said.

The startup, which raised a small pre-seed round of INR 2 crore, remains largely bootstrapped.

According to Gaggneja, his focus is on immediate metrics, and next year he intends to use customer feedback and data to chart out the next phase of the company’s growth. “I do not have a long-term outlook for this year. Next year, we will conduct a more extensive planning process based on consumer inputs and data. For the time being, we’re taking things slowly.”

Continue Exploring: Ayurveda D2C brand Goodveda to raise $1 Mn to fuel growth and product expansion

Holistic Approach to Wellness

Gaggneja’s vision for Goodveda is clear: the brand isn’t looking to cater to general wellness. “If they’re looking for a general wellness product, we are not the brand. If they have specific chronic illnesses, that’s where we step in,” he noted. The startup currently offers 15 SKUs, spanning across categories such as diabetes, obesity, liver, gut health, and cardiac health.

A key differentiator for Goodveda is its commitment to holistic health solutions. “With every product, we provide a complimentary one-month nutrition guidance program,” Gaggneja explained. This includes personalized consultations that dive deep into a customer’s lifestyle, work habits, and diet, with recommendations tailored to their specific health conditions.

Milletious for Healthy Snacking

Gaggneja also talks about the brand’s latest launch, Milletious, emerged from customer feedback, particularly around healthy snacking. “We realized that while our customers followed our diet plans, they faltered when it came to snacking. That’s where Milletious comes in,” Gaggneja revealed. The millet-based snacks were developed as a healthier alternative for people looking to curb unhealthy cravings, especially when on the go. “We got an amazing response to our launch, and now, we’ve even managed to remove palm oil from the product, keeping the same cost. That’s an achievement for us.”

Looking ahead, Goodveda plans to expand its SKUs to cover more chronic illnesses and further solidify its position in the health tech space. “We are already testing new products and will be expanding into other chronic illness categories over the next six months,” Gaggneja added.

Continue Exploring: Goodveda partners with Barista to launch ‘Milletious’ crunchies nationwide

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