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Ospree expands duty-free operations at Mangaluru International Airport

By
M Haziq Pandit
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Ospree

Ospree͏͏ Duty͏͏ Free͏͏ has͏͏ launched͏͏ its͏͏ newly͏͏ expanded͏͏ arrival͏͏ store͏͏ at͏͏ Mangaluru͏͏ International͏͏ Airport͏͏ in͏͏ Karnataka,͏͏ marking͏͏ a͏͏ significant͏͏ advancement͏͏ in͏͏ India’s͏͏ retail͏͏ sector.͏͏ The͏͏ revamped͏͏ store,͏͏ situated͏͏ at͏͏ the͏͏ state’s͏͏ second͏͏ busiest͏͏ airport,͏͏ provides͏͏ travelers͏͏ with͏͏ an͏͏ extensive͏͏ selection͏͏ of͏͏ premium͏͏ products,͏͏ elevating͏͏ the͏͏ duty-free͏͏ shopping͏͏ experience.

Broader͏͏ Range͏͏ of͏͏ Premium͏͏ Products:

The͏͏ store͏͏ has͏͏ expanded͏͏ from͏͏ 35͏͏ square͏͏ meters͏͏ to͏͏ 245͏͏ square͏͏ meters,͏͏ enabling͏͏ a͏͏ broader͏͏ selection͏͏ of͏͏ products.͏͏ In͏͏ addition͏͏ to͏͏ core͏͏ categories͏͏ like͏͏ liquor,͏͏ tobacco,͏͏ confectionery,͏͏ and͏͏ toys,͏͏ it͏͏ now͏͏ includes͏͏ an͏͏ extended͏͏ array͏͏ of͏͏ premium͏͏ items͏͏ such͏͏ as͏͏ destination͏͏ merchandise,͏͏ bags,͏͏ sunglasses,͏͏ and͏͏ watches.͏͏ This͏͏ enhanced͏͏ offering͏͏ gives͏͏ customers͏͏ access͏͏ to͏͏ more͏͏ international͏͏ brands͏͏ and͏͏ an͏͏ improved͏͏ shopping͏͏ experience.

Continue͏͏ Exploring:͏͏ Ospree elevates͏͏ Mumbai͏͏ airport͏͏ shopping͏͏ experience͏͏ with͏͏ two͏͏ new͏͏ retail͏͏ outlets

Avishek͏͏ Bambi͏͏ Das,͏͏ CEO͏͏ of͏͏ Ospree͏͏ Duty͏͏ Free,͏͏ stated,͏͏ “The͏͏ revamped͏͏ Mangaluru͏͏ store͏͏ showcases͏͏ our͏͏ dedication͏͏ to͏͏ improving͏͏ the͏͏ shopping͏͏ experience͏͏ at͏͏ regional͏͏ airports.͏͏ By͏͏ providing͏͏ a͏͏ wider͏͏ range͏͏ of͏͏ premium͏͏ products,͏͏ we͏͏ aim͏͏ to͏͏ meet͏͏ our͏͏ customers’͏͏ increasing͏͏ demands͏͏ while͏͏ reinforcing͏͏ our͏͏ presence͏͏ in͏͏ vital͏͏ regional͏͏ markets.”

With͏͏ the͏͏ launch͏͏ of͏͏ the͏͏ revamped͏͏ store,͏͏ Ospree͏͏ aims͏͏ to͏͏ provide͏͏ a͏͏ seamless͏͏ retail͏͏ experience͏͏ for͏͏ travelers͏͏ at͏͏ Mangaluru͏͏ International͏͏ Airport,͏͏ which͏͏ continues͏͏ to͏͏ attract͏͏ high͏͏ foot͏͏ traffic͏͏ and͏͏ demand͏͏ for͏͏ international͏͏ products.

Continue͏͏ Exploring:͏͏ Cochin͏͏ Duty͏͏ Free͏͏ enhances͏͏ airport͏͏ experience͏͏ with͏͏ new͏͏ last-minute͏͏ store͏͏ and͏͏ mobile͏͏ shop-on-wheels

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Bigbasket partners with 30,000 farmers to offer affordable organic produce

By
M Haziq Pandit
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0
Bigbasket

Bigbasket, an omnichannel grocery delivery firm, has teamed up with more than 30,000 farmers to provide organically grown fruits, vegetables, and staples at͏͏ prices͏͏ equivalent͏͏ to͏͏ conventionally͏͏ grown͏͏ products.

Expanding͏͏ Organic Offerings:

By͏͏ collaborating͏͏ with͏͏ over͏͏ 2,000͏͏ organic͏͏ fruit͏͏ and͏͏ vegetable͏͏ farmers͏͏ and͏͏ 28,000͏͏ agri-commodity͏͏ producers͏͏ via͏͏ registered͏͏ farmer͏͏ producer͏͏ organisations͏͏ (FPOs),͏͏ Bigbasket͏͏ now͏͏ provides͏͏ more͏͏ than͏͏ 50͏͏ varieties͏͏ of͏͏ organically͏͏ grown͏͏ fruits͏͏ and͏͏ vegetables,͏͏ alongside͏͏ over͏͏ 100͏͏ grocery͏͏ staples.

Over͏͏ the͏͏ last͏͏ financial͏͏ year,͏͏ the͏͏ retailer’s͏͏ organic͏͏ category͏͏ has͏͏ recorded͏͏ a͏͏ month-on-month͏͏ sales͏͏ growth͏͏ of͏͏ 15-17%.͏͏ Organic͏͏ products͏͏ now͏͏ make͏͏ up͏͏ 22%͏͏ of͏͏ its͏͏ staples͏͏ sales,͏͏ while͏͏ sales͏͏ of͏͏ organically͏͏ grown͏͏ fruits͏͏ and͏͏ vegetables͏͏ have͏͏ risen͏͏ by͏͏ 50%,͏͏ contributing͏͏ to͏͏ 8%͏͏ of͏͏ total͏͏ fresh͏͏ produce͏͏ sales,͏͏ according͏͏ to͏͏ the͏͏ company.

Continue͏͏ Exploring:͏͏ BigBasket to͏͏ phase͏͏ out͏͏ slotted͏͏ deliveries,͏͏ merge͏͏ BBdaily͏͏ into͏͏ main͏͏ app

Addressing͏͏ Cost͏͏ Barriers:

“The͏͏ cost͏͏ difference͏͏ between͏͏ organic͏͏ and͏͏ conventional͏͏ products͏͏ has͏͏ historically͏͏ posed͏͏ a͏͏ significant͏͏ challenge͏͏ for͏͏ consumers,”͏͏ said͏͏ Seshu͏͏ Kumar,͏͏ Chief͏͏ Buying͏͏ and͏͏ Merchandising͏͏ Officer͏͏ at͏͏ Bigbasket.͏͏ “By͏͏ eliminating͏͏ this͏͏ price͏͏ gap,͏͏ we͏͏ are͏͏ addressing͏͏ a͏͏ crucial͏͏ barrier,͏͏ enabling͏͏ more͏͏ people͏͏ to͏͏ experience͏͏ the͏͏ advantages͏͏ of͏͏ organic͏͏ food.”

“This͏͏ initiative͏͏ not͏͏ only͏͏ supports͏͏ our͏͏ customers͏͏ but͏͏ also͏͏ empowers͏͏ farmers͏͏ by͏͏ broadening͏͏ the͏͏ market͏͏ for͏͏ their͏͏ organic͏͏ produce,”͏͏ he͏͏ added.

The͏͏ company͏͏ aids͏͏ its͏͏ farmers͏͏ by͏͏ employing͏͏ technologies͏͏ such͏͏ as͏͏ geotagging͏͏ to͏͏ track͏͏ sowing͏͏ and͏͏ harvest͏͏ schedules,͏͏ along͏͏ with͏͏ offering͏͏ weather͏͏ forecasts͏͏ and͏͏ strategies͏͏ to͏͏ mitigate͏͏ climate-related͏͏ risks.͏͏ Additionally,͏͏ Bigbasket͏͏ has͏͏ launched͏͏ a͏͏ digital͏͏ labelling͏͏ system͏͏ that͏͏ improves͏͏ traceability͏͏ by͏͏ connecting͏͏ each͏͏ product͏͏ to͏͏ its͏͏ respective͏͏ farmer.

Based͏͏ in͏͏ Bengaluru,͏͏ Bigbasket͏͏ was͏͏ established͏͏ in͏͏ 2011͏͏ by͏͏ Hari͏͏ Menon,͏͏ VS͏͏ Sudhakar,͏͏ V͏͏ S͏͏ Ramesh,͏͏ Vipul͏͏ Parekh,͏͏ and͏͏ Abhinay͏͏ Choudari.͏͏ In͏͏ May͏͏ 2021,͏͏ Tata͏͏ Digital,͏͏ a͏͏ wholly-owned͏͏ subsidiary͏͏ of͏͏ Tata͏͏ Sons,͏͏ acquired͏͏ a͏͏ 64%͏͏ stake͏͏ in͏͏ Supermarket͏͏ Grocery͏͏ Supplies,͏͏ the͏͏ parent͏͏ company͏͏ of͏͏ Bigbasket.͏͏ Bigbasket͏͏ is͏͏ currently͏͏ managed͏͏ by͏͏ Innovative͏͏ Retail͏͏ Concepts,͏͏ a͏͏ subsidiary͏͏ of͏͏ Supermarket͏͏ Grocery͏͏ Supplies.

The͏͏ company͏͏ now͏͏ operates͏͏ in͏͏ over͏͏ 400͏͏ cities͏͏ across͏͏ India,͏͏ processing͏͏ approximately͏͏ 15͏͏ million͏͏ customer͏͏ orders͏͏ each͏͏ month.

Continue͏͏ Exploring:͏͏ As͏͏ competition͏͏ grows,͏͏ BigBasket expands͏͏ into͏͏ electronics͏͏ with͏͏ 10-minute͏͏ iPhone͏͏ 16͏͏ delivery

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Oman India Joint Investment Fund sells shares in Senco Gold for over INR 75 Cr; ICICI Prudential Life acquires stake

By
M Haziq Pandit
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0
Senco Gold

Oman India Joint Investment Fund‘s arm sold shares of jewellery retail giant Senco Gold for over INR 75 crore in an open market transaction on Monday, while ICICI Prudential Life Insurance acquired͏͏ a͏͏ stake͏͏ in͏͏ the͏͏ company.

Details͏͏ of͏͏ the͏͏ Transaction:

According͏͏ to͏͏ bulk͏͏ deal͏͏ data͏͏ from͏͏ the͏͏ BSE,͏͏ Oman͏͏ India͏͏ Joint͏͏ Investment͏͏ Fund͏͏ II͏͏ offloaded͏͏ 5.89͏͏ lakh͏͏ shares,͏͏ or͏͏ a͏͏ 0.76%͏͏ stake,͏͏ in͏͏ Senco͏͏ Gold.

The͏͏ shares͏͏ were͏͏ sold͏͏ at͏͏ an͏͏ average͏͏ price͏͏ of͏͏ INR͏͏ 1,280.16͏͏ each,͏͏ bringing͏͏ the͏͏ transaction͏͏ value͏͏ to͏͏ INR͏͏ 75.52͏͏ crore.

Following͏͏ the͏͏ latest͏͏ transaction,͏͏ Oman͏͏ India͏͏ Joint͏͏ Investment͏͏ Fund’s͏͏ stake͏͏ in͏͏ Senco͏͏ Gold͏͏ has͏͏ reduced͏͏ to͏͏ 1.27%͏͏ from͏͏ 2.03%.

Continue͏͏ Exploring:͏͏ Senco Gold Q1͏͏ FY25͏͏ net͏͏ profit͏͏ jumps͏͏ 85%,͏͏ revenue͏͏ up͏͏ 7.5%

ICICI͏͏ Prudential͏͏ Life͏͏ Insurance͏͏ Acquires͏͏ Stake:

Meanwhile,͏͏ ICICI͏͏ Prudential͏͏ Life͏͏ Insurance͏͏ acquired͏͏ 4.90͏͏ lakh͏͏ shares,͏͏ amounting͏͏ to͏͏ a͏͏ 0.63%͏͏ stake͏͏ in͏͏ Senco͏͏ Gold,͏͏ at͏͏ an͏͏ average͏͏ price͏͏ of͏͏ INR͏͏ 1,280͏͏ per͏͏ share.

This͏͏ brought͏͏ the͏͏ deal͏͏ value͏͏ to͏͏ INR͏͏ 62.81͏͏ crore.

Details͏͏ regarding͏͏ the͏͏ other͏͏ buyers͏͏ of͏͏ Senco͏͏ Gold’s͏͏ shares͏͏ remain͏͏ unconfirmed.

Oman͏͏ India͏͏ Joint͏͏ Investment͏͏ Fund͏͏ II͏͏ is͏͏ an͏͏ affiliate͏͏ of͏͏ the͏͏ Oman͏͏ India͏͏ Joint͏͏ Investment͏͏ Fund͏͏ Management͏͏ Company͏͏ (OIJIF-MC).

OIJIF-MC͏͏ is͏͏ a͏͏ professionally͏͏ managed͏͏ firm͏͏ that͏͏ manages͏͏ private͏͏ equity͏͏ funds͏͏ aimed͏͏ at͏͏ investing͏͏ in͏͏ the͏͏ mid-market͏͏ segment͏͏ in͏͏ India.͏͏ It͏͏ is͏͏ supported͏͏ by͏͏ two͏͏ major͏͏ sponsors:͏͏ Oman͏͏ Investment͏͏ Authority͏͏ (OIA)͏͏ and͏͏ State͏͏ Bank͏͏ of͏͏ India.

OIA͏͏ is͏͏ the͏͏ sovereign͏͏ wealth͏͏ fund͏͏ of͏͏ the͏͏ Sultanate͏͏ of͏͏ Oman.

Shares͏͏ of͏͏ Senco͏͏ Gold͏͏ rose͏͏ 3.77%͏͏ to͏͏ close͏͏ at͏͏ Rs͏͏ 1,332.70͏͏ apiece͏͏ on͏͏ the͏͏ BSE͏͏ on͏͏ Monday.

Continue͏͏ Exploring:͏͏ SAIF͏͏ Partners͏͏ divests͏͏ 5.8%͏͏ stake͏͏ in͏͏ Senco Gold for͏͏ INR͏͏ 432.72͏͏ Cr

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OYO expects EBITDA to cross INR 2,000 Cr in FY26 with Motel 6 acquisition

By
M Haziq Pandit
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0
OYO

OYO, the IPO-bound travel tech platform, expects its EBITDA to hit INR 2,000 crore in 2025-26, largely driven by the American budget hotel chain Motel 6.͏͏ Documents͏͏ reveal͏͏ that͏͏ Motel͏͏ 6͏͏ is͏͏ projected͏͏ to͏͏ contribute͏͏ over͏͏ INR͏͏ 630͏͏ crore͏͏ to͏͏ OYO’s͏͏ EBITDA͏͏ in͏͏ the͏͏ upcoming͏͏ financial͏͏ year,͏͏ marking͏͏ the͏͏ first͏͏ full͏͏ year͏͏ of͏͏ their͏͏ integration.

The͏͏ travel͏͏ tech͏͏ major͏͏ plans͏͏ to͏͏ refile͏͏ its͏͏ initial͏͏ public͏͏ offering͏͏ (IPO)͏͏ documents͏͏ with͏͏ the͏͏ Securities͏͏ and͏͏ Exchange͏͏ Board͏͏ of͏͏ India͏͏ (SEBI)͏͏ following͏͏ the͏͏ refinancing͏͏ of͏͏ its͏͏ existing͏͏ USD͏͏ 450͏͏ million͏͏ Term͏͏ Loan͏͏ B͏͏ (TLB)͏͏ at͏͏ a͏͏ reduced͏͏ interest͏͏ rate.

Strategic͏͏ Acquisition͏͏ of͏͏ Motel 6:

OYO͏͏ announced͏͏ on͏͏ Saturday͏͏ that͏͏ it͏͏ has͏͏ reached͏͏ an͏͏ agreement͏͏ to͏͏ acquire͏͏ the͏͏ Motel͏͏ 6͏͏ and͏͏ Studio͏͏ 6͏͏ brands͏͏ from͏͏ Blackstone͏͏ Real͏͏ Estate͏͏ for͏͏ USD͏͏ 525͏͏ million͏͏ in͏͏ an͏͏ all-cash͏͏ deal.

Continue͏͏ Exploring:͏͏ OYO acquires͏͏ US͏͏ chain͏͏ Motel͏͏ 6͏͏ in͏͏ $525͏͏ Mn͏͏ deal,͏͏ eyes͏͏ global͏͏ expansion

Oravel͏͏ Stays,͏͏ the͏͏ parent͏͏ company͏͏ of͏͏ OYO,͏͏ announced͏͏ that͏͏ it͏͏ will͏͏ acquire͏͏ G6͏͏ Hospitality,͏͏ the͏͏ leading͏͏ economy͏͏ lodging͏͏ franchisor͏͏ and͏͏ parent͏͏ company͏͏ of͏͏ Motel͏͏ 6͏͏ and͏͏ its͏͏ offshoot͏͏ brand,͏͏ Studio͏͏ 6.

The͏͏ transaction͏͏ is͏͏ anticipated͏͏ to͏͏ be͏͏ finalized͏͏ in͏͏ the͏͏ fourth͏͏ quarter͏͏ of͏͏ 2024.

According͏͏ to͏͏ sources,͏͏ OYO͏͏ plans͏͏ to͏͏ use͏͏ a͏͏ combination͏͏ of͏͏ debt͏͏ and͏͏ equity͏͏ to͏͏ finance͏͏ the͏͏ acquisition,͏͏ allocating͏͏ USD͏͏ 250͏͏ million͏͏ from͏͏ its͏͏ recent͏͏ fundraising͏͏ and͏͏ existing͏͏ cash͏͏ reserves.

Rapid͏͏ Expansion͏͏ in͏͏ Hotel͏͏ Count:

The͏͏ travel͏͏ tech͏͏ chain’s͏͏ hotel͏͏ count͏͏ increased͏͏ from͏͏ 12,938͏͏ at͏͏ the͏͏ end͏͏ of͏͏ FY23͏͏ to͏͏ 18,103͏͏ by͏͏ the͏͏ end͏͏ of͏͏ FY24,͏͏ representing͏͏ a͏͏ 40͏͏ per͏͏ cent͏͏ growth.

“The͏͏ acquisition͏͏ will͏͏ add͏͏ approximately͏͏ 1,500͏͏ hotels,͏͏ bringing͏͏ the͏͏ total͏͏ count͏͏ to͏͏ nearly͏͏ 20,000.͏͏ With͏͏ an͏͏ average͏͏ of͏͏ 110͏͏ rooms͏͏ per͏͏ Motel͏͏ 6͏͏ hotel͏͏ and͏͏ a͏͏ higher͏͏ average͏͏ room͏͏ rate,͏͏ this͏͏ will͏͏ significantly͏͏ boost͏͏ OYO’s͏͏ topline,”͏͏ a͏͏ source͏͏ stated.

Motel͏͏ 6͏͏ operates͏͏ 1,500͏͏ franchised͏͏ hotels͏͏ throughout͏͏ the͏͏ US͏͏ and͏͏ Canada,͏͏ along͏͏ with͏͏ extended͏͏ stay͏͏ properties͏͏ known͏͏ as͏͏ Studio͏͏ 6.

Prior͏͏ to͏͏ the͏͏ acquisition,͏͏ OYO͏͏ projected͏͏ its͏͏ PAT͏͏ to͏͏ increase͏͏ more͏͏ than͏͏ threefold͏͏ to͏͏ INR͏͏ 700͏͏ crore͏͏ in͏͏ the͏͏ current͏͏ fiscal͏͏ year͏͏ compared͏͏ to͏͏ FY24.͏͏ OYO͏͏ recorded͏͏ its͏͏ first-ever͏͏ profit͏͏ after͏͏ tax͏͏ (PAT)͏͏ of͏͏ INR͏͏ 229͏͏ crore͏͏ in͏͏ FY24,͏͏ followed͏͏ by͏͏ a͏͏ profit͏͏ of͏͏ INR͏͏ 132͏͏ crore͏͏ in͏͏ Q1͏͏ FY25.͏͏ Additionally,͏͏ OYO’s͏͏ Adjusted͏͏ EBITDA͏͏ rose͏͏ by͏͏ 215͏͏ per͏͏ cent,͏͏ reaching͏͏ INR͏͏ 877͏͏ crore͏͏ in͏͏ FY24.

Continue͏͏ Exploring:͏͏ OYO eyes͏͏ 3x͏͏ increase͏͏ in͏͏ net͏͏ profit͏͏ to͏͏ INR͏͏ 700͏͏ Cr͏͏ for͏͏ FY25

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Export of gems and jewellery falls over 18% in August due to global consumption slowdown

By
M Haziq Pandit
-
0
gems and jewellery

The exports of gems and jewellery from India in August declined by 18.79% to USD 2,012.51 million,͏͏ compared͏͏ to͏͏ USD͏͏ 2,478.23͏͏ million͏͏ in͏͏ the͏͏ same͏͏ month͏͏ last͏͏ year,͏͏ according͏͏ to͏͏ the͏͏ Gem͏͏ &͏͏ Jewellery͏͏ Export͏͏ Promotion͏͏ Council͏͏ (GJEPC).

Global͏͏ Demand͏͏ Slump:

This͏͏ decline͏͏ in͏͏ exports͏͏ is͏͏ attributed͏͏ to͏͏ a͏͏ general͏͏ slowdown͏͏ in͏͏ global͏͏ consumption,͏͏ as͏͏ ongoing͏͏ geopolitical͏͏ tensions͏͏ deter͏͏ demand͏͏ and͏͏ lead͏͏ buyers͏͏ to͏͏ adopt͏͏ more͏͏ cautious͏͏ purchasing͏͏ decisions.

The͏͏ export͏͏ of͏͏ cut͏͏ and͏͏ polished͏͏ diamonds͏͏ fell͏͏ by͏͏ 23.8%͏͏ in͏͏ August͏͏ 2024,͏͏ reaching͏͏ USD͏͏ 1,036.63͏͏ million͏͏ compared͏͏ to͏͏ USD͏͏ 1,360.39͏͏ million͏͏ in͏͏ the͏͏ same͏͏ month͏͏ last͏͏ year.͏͏ This͏͏ decline͏͏ reflects͏͏ an͏͏ overall͏͏ dip͏͏ in͏͏ international͏͏ markets,͏͏ compounded͏͏ by͏͏ the͏͏ prolonged͏͏ geopolitical͏͏ crisis,͏͏ the͏͏ approaching͏͏ US͏͏ elections,͏͏ and͏͏ reduced͏͏ demand͏͏ from͏͏ key͏͏ markets͏͏ like͏͏ China.

Continue͏͏ Exploring:͏͏ India’s͏͏ gems and jewellery exports dip͏͏ 13.44%͏͏ in͏͏ June͏͏ to͏͏ INR͏͏ 15,939.77͏͏ Cr:͏͏ GJEPC

Imports͏͏ of͏͏ rough͏͏ diamonds͏͏ reached͏͏ USD͏͏ 4,978.04͏͏ million͏͏ in͏͏ August͏͏ 2024,͏͏ reflecting͏͏ a͏͏ 22.58%͏͏ decline͏͏ compared͏͏ to͏͏ USD͏͏ 6,429.76͏͏ million͏͏ in͏͏ the͏͏ same͏͏ month͏͏ last͏͏ year.͏͏ This͏͏ downturn͏͏ is͏͏ attributed͏͏ to͏͏ accumulated͏͏ inventories͏͏ resulting͏͏ from͏͏ excess͏͏ supply͏͏ and͏͏ limited͏͏ demand.͏͏ As͏͏ a͏͏ result,͏͏ traders͏͏ and͏͏ merchants͏͏ are͏͏ keen͏͏ to͏͏ clear͏͏ unsold͏͏ stock͏͏ to͏͏ revive͏͏ demand.

The͏͏ export͏͏ of͏͏ polished͏͏ lab-grown͏͏ diamonds͏͏ in͏͏ August͏͏ 2024͏͏ reached͏͏ USD͏͏ 99.64͏͏ million,͏͏ representing͏͏ a͏͏ 15.30%͏͏ decline͏͏ from͏͏ USD͏͏ 117.63͏͏ million͏͏ in͏͏ the͏͏ previous͏͏ year.͏͏ The͏͏ ongoing͏͏ decrease͏͏ in͏͏ natural͏͏ diamond͏͏ prices͏͏ has͏͏ also͏͏ affected͏͏ lab-grown͏͏ diamond͏͏ prices,͏͏ leading͏͏ to͏͏ fluctuations.

Gold͏͏ Jewellery Exports͏͏ Dip:

The͏͏ export͏͏ of͏͏ gold͏͏ jewellery͏͏ in͏͏ August͏͏ 2024͏͏ amounted͏͏ to͏͏ USD͏͏ 687.69͏͏ million,͏͏ reflecting͏͏ a͏͏ decline͏͏ of͏͏ 1.15%͏͏ from͏͏ USD͏͏ 695.65͏͏ million͏͏ in͏͏ the͏͏ same͏͏ month͏͏ last͏͏ year.͏͏ This͏͏ decrease͏͏ is͏͏ attributed͏͏ to͏͏ rising͏͏ gold͏͏ prices͏͏ driven͏͏ by͏͏ expectations͏͏ of͏͏ a͏͏ rate͏͏ cut͏͏ by͏͏ the͏͏ US͏͏ Fed.

The͏͏ export͏͏ of͏͏ coloured͏͏ gemstones͏͏ in͏͏ August͏͏ 2024͏͏ reached͏͏ USD͏͏ 156.41͏͏ million,͏͏ marking͏͏ a͏͏ 19.91%͏͏ decline͏͏ from͏͏ USD͏͏ 195.3͏͏ million͏͏ in͏͏ the͏͏ same͏͏ month͏͏ last͏͏ year,͏͏ due͏͏ to͏͏ weak͏͏ demand͏͏ in͏͏ international͏͏ markets.

Commenting͏͏ on͏͏ the͏͏ declining͏͏ exports,͏͏ Colin͏͏ Shah,͏͏ former͏͏ chairman͏͏ of͏͏ GJEPC͏͏ and͏͏ managing͏͏ director͏͏ of͏͏ Kama͏͏ Jewelry,͏͏ stated,͏͏ “With͏͏ over͏͏ 60͏͏ countries͏͏ facing͏͏ elections͏͏ in͏͏ the͏͏ near͏͏ future,͏͏ trade͏͏ activities͏͏ may͏͏ experience͏͏ a͏͏ temporary͏͏ slowdown͏͏ due͏͏ to͏͏ various͏͏ restrictions.͏͏ However,͏͏ we͏͏ anticipate͏͏ a͏͏ return͏͏ to͏͏ normalcy͏͏ following͏͏ the͏͏ elections͏͏ in͏͏ these͏͏ countries,͏͏ which͏͏ should͏͏ aid͏͏ in͏͏ reviving͏͏ demand.”

Continue͏͏ Exploring:͏͏ Indian͏͏ diamond͏͏ jewellery market͏͏ set͏͏ to͏͏ soar,͏͏ expected͏͏ to͏͏ reach͏͏ US$͏͏ 17͏͏ Billion͏͏ by͏͏ 2031

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Unicommerce strengthens sales and marketing teams with new senior directors

By
M Haziq Pandit
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0
Unicommerce

Enterprise tech startup Unicommerce has bolstered͏͏ its͏͏ leadership͏͏ team͏͏ with͏͏ two͏͏ new͏͏ appointments͏͏ to͏͏ accelerate͏͏ growth͏͏ in͏͏ the͏͏ e-commerce͏͏ enablement͏͏ sector.

The͏͏ company͏͏ has͏͏ enlisted͏͏ Pranay͏͏ Kale͏͏ as͏͏ Senior͏͏ Director͏͏ and͏͏ Head͏͏ of͏͏ India͏͏ Sales͏͏ (Business͏͏ Acquisition)͏͏ and͏͏ Vaibhav͏͏ Mehrotra͏͏ as͏͏ Senior͏͏ Director͏͏ of͏͏ Marketing͏͏ (Corporate).

Unicommerce͏͏ stated͏͏ that͏͏ Kale’s͏͏ expertise͏͏ in͏͏ SaaS͏͏ sales͏͏ and͏͏ Mehrotra’s͏͏ proficiency͏͏ in͏͏ digital͏͏ marketing͏͏ are͏͏ anticipated͏͏ to͏͏ enhance͏͏ the͏͏ startup’s͏͏ market͏͏ presence͏͏ and͏͏ customer͏͏ acquisition͏͏ strategies.

Unicommerce͏͏ announced͏͏ in͏͏ a͏͏ stock͏͏ exchange͏͏ filing͏͏ that͏͏ both͏͏ Kale͏͏ and͏͏ Mehrotra͏͏ have͏͏ been͏͏ appointed͏͏ as͏͏ senior͏͏ management͏͏ personnel,͏͏ effective͏͏ September͏͏ 23,͏͏ 2024.

Continue͏͏ Exploring:͏͏ Unicommerce makes͏͏ strong͏͏ debut͏͏ with͏͏ shares͏͏ listing͏͏ at͏͏ 118%͏͏ premium

Leadership͏͏ Experience:

Kale͏͏ brings͏͏ over͏͏ 18͏͏ years͏͏ of͏͏ experience͏͏ in͏͏ the͏͏ SaaS͏͏ industry,͏͏ having͏͏ worked͏͏ across͏͏ global͏͏ BFSI,͏͏ technology,͏͏ and͏͏ manufacturing͏͏ sectors.͏͏ Most͏͏ recently,͏͏ he͏͏ served͏͏ as͏͏ VP͏͏ and͏͏ Business͏͏ Head͏͏ of͏͏ Enterprise͏͏ Business͏͏ at͏͏ LeadSquared͏͏ since͏͏ April͏͏ 2023,͏͏ where͏͏ he͏͏ focused͏͏ on͏͏ solution͏͏ selling͏͏ and͏͏ business͏͏ development.

Mehrotra͏͏ has͏͏ over͏͏ 15͏͏ years͏͏ of͏͏ experience͏͏ in͏͏ brand,͏͏ product,͏͏ digital,͏͏ and͏͏ performance͏͏ marketing.͏͏ He͏͏ joins͏͏ Unicommerce͏͏ from͏͏ his͏͏ position͏͏ as͏͏ Senior͏͏ Director͏͏ of͏͏ Marketing͏͏ at͏͏ Cashfree͏͏ Payments,͏͏ where͏͏ he͏͏ has͏͏ been͏͏ since͏͏ April͏͏ 2021,͏͏ overseeing͏͏ the͏͏ company’s͏͏ marketing͏͏ strategy͏͏ and͏͏ execution.

Strong͏͏ Financial͏͏ Performance:

The͏͏ appointments͏͏ come͏͏ as͏͏ Unicommerce͏͏ demonstrates͏͏ robust͏͏ financial͏͏ performance.͏͏ For͏͏ the͏͏ quarter͏͏ ending͏͏ June͏͏ 2024,͏͏ the͏͏ company͏͏ reported͏͏ a͏͏ 9.18%͏͏ year-over-year͏͏ increase͏͏ in͏͏ revenue͏͏ from͏͏ operations͏͏ to͏͏ INR͏͏ 27.47͏͏ crore,͏͏ while͏͏ net͏͏ profit͏͏ rose͏͏ by͏͏ 30.97%͏͏ to͏͏ INR͏͏ 3.51͏͏ crore.

Unicommerce,͏͏ which͏͏ went͏͏ public͏͏ in͏͏ August͏͏ 2024,͏͏ serves͏͏ over͏͏ 3,600͏͏ clients͏͏ and͏͏ manages͏͏ more͏͏ than͏͏ 8,300͏͏ warehouses.͏͏ The͏͏ company͏͏ plans͏͏ to͏͏ expand͏͏ its͏͏ footprint͏͏ in͏͏ international͏͏ markets,͏͏ including͏͏ Thailand,͏͏ Egypt,͏͏ Kenya,͏͏ Bahrain,͏͏ and͏͏ Qatar.

Continue͏͏ Exploring:͏͏ Unicommerce Q1͏͏ FY25͏͏ profit͏͏ surges͏͏ 31%͏͏ YoY͏͏ to͏͏ INR͏͏ 3.51͏͏ Cr,͏͏ revenue͏͏ rises͏͏ 9%

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Retail sales grow 2% YoY in August 2024: RAI Survey

By
M Haziq Pandit
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0
retail

Retail sales in August 2024 recorded a moderate increase of 2% compared to the same period in August 2023, according to the latest edition of the Retail Business Survey by the Retailers Association of India (RAI).

Regional͏͏ Performance:͏͏ North͏͏ and͏͏ South͏͏ Lead

The͏͏ survey͏͏ revealed͏͏ that͏͏ North͏͏ and͏͏ South͏͏ India͏͏ experienced͏͏ a͏͏ sales͏͏ growth͏͏ of͏͏ 3%͏͏ each,͏͏ while͏͏ East͏͏ and͏͏ West͏͏ India͏͏ recorded͏͏ an͏͏ increase͏͏ of͏͏ 1%͏͏ each.

“Retail͏͏ performance͏͏ in͏͏ August͏͏ has͏͏ not͏͏ demonstrated͏͏ significant͏͏ growth͏͏ compared͏͏ to͏͏ last͏͏ year,”͏͏ stated͏͏ Kumar͏͏ Rajagopalan,͏͏ CEO͏͏ of͏͏ RAI.͏͏ “Many͏͏ retailers͏͏ have͏͏ reported͏͏ negative͏͏ growth͏͏ on͏͏ a͏͏ like-for-like͏͏ basis.͏͏ However,͏͏ there͏͏ are͏͏ optimistic͏͏ expectations͏͏ for͏͏ positive͏͏ growth͏͏ during͏͏ the͏͏ festive͏͏ season,͏͏ given͏͏ the͏͏ overall͏͏ positive͏͏ economic͏͏ climate.”

Continue͏͏ Exploring:͏͏ Retailers see͏͏ 5%͏͏ sales͏͏ growth͏͏ in͏͏ June,͏͏ QSRs͏͏ lead͏͏ growth:͏͏ RAI

Food͏͏ and͏͏ Grocery͏͏ Tops͏͏ Categories:

In͏͏ terms͏͏ of͏͏ categories,͏͏ food͏͏ and͏͏ grocery͏͏ led͏͏ with͏͏ the͏͏ highest͏͏ growth͏͏ at͏͏ 7%,͏͏ followed͏͏ by͏͏ jewellery͏͏ at͏͏ 5%͏͏ compared͏͏ to͏͏ August͏͏ 2023.͏͏ Quick͏͏ service͏͏ restaurants͏͏ (QSR),͏͏ consumer͏͏ durables͏͏ and͏͏ electronics,͏͏ and͏͏ apparel͏͏ each͏͏ recorded͏͏ a͏͏ growth͏͏ of͏͏ 2%,͏͏ while͏͏ footwear͏͏ had͏͏ the͏͏ lowest͏͏ growth͏͏ at͏͏ 1%.

Meanwhile,͏͏ furniture,͏͏ beauty͏͏ and͏͏ wellness,͏͏ and͏͏ sports͏͏ goods͏͏ experienced͏͏ declines,͏͏ with͏͏ sales͏͏ decreasing͏͏ by͏͏ 2%,͏͏ 1%,͏͏ and͏͏ 1%,͏͏ respectively,͏͏ compared͏͏ to͏͏ August͏͏ of͏͏ the͏͏ previous͏͏ year.

In͏͏ July͏͏ 2024,͏͏ sales͏͏ also͏͏ recorded͏͏ a͏͏ modest͏͏ 2%͏͏ increase͏͏ compared͏͏ to͏͏ the͏͏ same͏͏ period͏͏ in͏͏ July͏͏ 2023.͏͏ The͏͏ retail͏͏ sector͏͏ has͏͏ yet͏͏ to͏͏ achieve͏͏ double-digit͏͏ growth͏͏ on͏͏ a͏͏ like-for-like͏͏ basis,͏͏ RAI͏͏ noted.

RAI͏͏ is͏͏ the͏͏ leading͏͏ association͏͏ for͏͏ retailers͏͏ in͏͏ India,͏͏ collaborating͏͏ with͏͏ all͏͏ stakeholders͏͏ to͏͏ foster͏͏ a͏͏ conducive͏͏ environment͏͏ for͏͏ the͏͏ growth͏͏ of͏͏ the͏͏ modern͏͏ retail͏͏ industry͏͏ in͏͏ the͏͏ country.

Continue͏͏ Exploring:͏͏ India’s͏͏ consumer͏͏ and͏͏ retail sector͏͏ sees͏͏ surge͏͏ in͏͏ M&A͏͏ and͏͏ private͏͏ equity͏͏ deals,͏͏ up͏͏ 30%͏͏ in͏͏ Q1͏͏ 2024:͏͏ Grant͏͏ Thornton͏͏ Report

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Arvind Fashions plans aggressive expansion for US Polo Assn in India, targeting INR 5,000 Cr in sales

By
M Haziq Pandit
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0
Arvind Fashions US Polo Assn

Arvind Fashions Ltd aims to aggressively expand its casual lifestyle wear brand, US Polo Assn., in India,͏͏ prioritising͏͏ store͏͏ expansion͏͏ and͏͏ marketing͏͏ investments.͏͏ As͏͏ the͏͏ fastest-growing͏͏ market͏͏ for͏͏ the͏͏ brand͏͏ globally,͏͏ the͏͏ company͏͏ sees͏͏ the͏͏ potential͏͏ for͏͏ sales͏͏ to͏͏ reach͏͏ INR͏͏ 5,000͏͏ crore͏͏ in͏͏ the͏͏ coming͏͏ years.

Shailesh Chaturvedi,͏͏ MD͏͏ &͏͏ CEO͏͏ of͏͏ Arvind͏͏ Fashions͏͏ Ltd,͏͏ stated,͏͏ “US͏͏ Polo͏͏ Assn.͏͏ is͏͏ the͏͏ leading͏͏ casual͏͏ lifestyle͏͏ brand,͏͏ with͏͏ India͏͏ being͏͏ its͏͏ fastest-growing͏͏ global͏͏ market.͏͏ The͏͏ brand͏͏ has͏͏ nearly͏͏ reached͏͏ INR͏͏ 2,000͏͏ crore͏͏ in͏͏ net͏͏ sales͏͏ value.͏͏ Its͏͏ potential͏͏ for͏͏ expansion͏͏ is͏͏ significant,͏͏ and͏͏ we͏͏ are͏͏ actively͏͏ introducing͏͏ adjacent͏͏ categories.͏͏ The͏͏ brand͏͏ is͏͏ particularly͏͏ appealing͏͏ in͏͏ smaller͏͏ towns͏͏ and͏͏ cities.͏͏ We͏͏ have͏͏ an͏͏ aggressive͏͏ growth͏͏ strategy͏͏ that͏͏ includes͏͏ store͏͏ rollouts,͏͏ increased͏͏ advertising͏͏ and͏͏ marketing͏͏ investments,͏͏ and͏͏ enhancing͏͏ our͏͏ online͏͏ presence.”

Strategic͏͏ Growth͏͏ Initiatives͏͏ and͏͏ New͏͏ Category͏͏ Introductions:

Last͏͏ year,͏͏ the͏͏ company͏͏ launched͏͏ a͏͏ dedicated͏͏ website͏͏ for͏͏ US͏͏ Polo͏͏ in͏͏ India.͏͏ “There͏͏ is͏͏ potential͏͏ for͏͏ it͏͏ to͏͏ grow͏͏ into͏͏ a͏͏ INR͏͏ 5,000-crore͏͏ brand͏͏ in͏͏ the͏͏ near͏͏ to͏͏ mid-term.͏͏ The͏͏ brand͏͏ appeals͏͏ to͏͏ all͏͏ genders͏͏ and͏͏ age͏͏ groups,͏͏ excelling͏͏ in͏͏ both͏͏ apparel͏͏ and͏͏ accessories,”͏͏ he͏͏ added.

Recently,͏͏ US͏͏ Polo͏͏ Assn.͏͏ introduced͏͏ a͏͏ premium͏͏ capsule͏͏ line͏͏ in͏͏ collaboration͏͏ with͏͏ its͏͏ brand͏͏ ambassador,͏͏ Maharaja͏͏ Sawai͏͏ Padmanabh͏͏ Singh,͏͏ blending͏͏ Jaipur’s͏͏ royal͏͏ heritage͏͏ with͏͏ the͏͏ “refined͏͏ elegance”͏͏ of͏͏ sports͏͏ fashion,͏͏ the͏͏ company͏͏ announced.͏͏ The͏͏ US͏͏ Polo͏͏ Assn.͏͏ x͏͏ Pacho͏͏ Collection͏͏ will͏͏ be͏͏ available͏͏ at͏͏ select͏͏ stores͏͏ across͏͏ India,͏͏ on͏͏ uspoloassn.in,͏͏ and͏͏ exclusively͏͏ on͏͏ Myntra͏͏ this͏͏ autumn.

Continue Exploring: Arvind Fashions Q4͏͏ net͏͏ profit͏͏ rises͏͏ to͏͏ INR͏͏ 39.7͏͏ Cr,͏͏ revenue͏͏ grows͏͏ 3.6%͏͏ to͏͏ INR͏͏ 1,094͏͏ Cr

The͏͏ brand͏͏ is͏͏ currently͏͏ available͏͏ in͏͏ approximately͏͏ 450͏͏ stores͏͏ across͏͏ the͏͏ country.͏͏ “We͏͏ project͏͏ a͏͏ compound͏͏ annual͏͏ growth͏͏ rate͏͏ (CAGR)͏͏ of͏͏ 15͏͏ per͏͏ cent͏͏ in͏͏ terms͏͏ of͏͏ square͏͏ footage.͏͏ This͏͏ means͏͏ we͏͏ can͏͏ add͏͏ around͏͏ 60-70͏͏ stores͏͏ annually͏͏ for͏͏ the͏͏ brand.͏͏ We͏͏ are͏͏ also͏͏ launching͏͏ large͏͏ flagship͏͏ stores͏͏ for͏͏ US͏͏ Polo͏͏ Assn.͏͏ in͏͏ 15-20͏͏ key͏͏ locations,͏͏ which͏͏ will͏͏ showcase͏͏ the͏͏ full͏͏ range,͏͏ including͏͏ menswear,͏͏ footwear,͏͏ womenswear,͏͏ and͏͏ kidswear,”͏͏ Chaturvedi͏͏ added.

Arvind͏͏ Fashions͏͏ Ltd’s͏͏ portfolio͏͏ includes͏͏ both͏͏ international͏͏ and͏͏ indigenous͏͏ brands,͏͏ such͏͏ as͏͏ Arrow,͏͏ Tommy͏͏ Hilfiger,͏͏ Calvin͏͏ Klein,͏͏ and͏͏ Flying͏͏ Machine.

Positive͏͏ Growth͏͏ Outlook͏͏ for͏͏ Festival͏͏ Season:

In͏͏ response͏͏ to͏͏ a͏͏ query͏͏ about͏͏ the͏͏ growth͏͏ outlook,͏͏ Chaturvedi͏͏ stated,͏͏ “We͏͏ anticipate͏͏ higher͏͏ growth͏͏ than͏͏ in͏͏ the͏͏ previous͏͏ fiscal͏͏ year,͏͏ potentially͏͏ reaching͏͏ high͏͏ single͏͏ digits͏͏ or͏͏ even͏͏ double͏͏ digits,͏͏ depending͏͏ on͏͏ market͏͏ conditions.͏͏ Overall,͏͏ there͏͏ is͏͏ definitely͏͏ an͏͏ optimistic͏͏ sentiment͏͏ surrounding͏͏ the͏͏ festival͏͏ season.”

Continue͏͏ Exploring:͏͏ US Polo Assn reports͏͏ record-breaking͏͏ $2.4͏͏ Billion͏͏ global͏͏ retail͏͏ sales͏͏ in͏͏ 2023

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Amrut unveils world’s first 100% jaggery distilled single rum ‘Bella’

By
M Haziq Pandit
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0
Amrut Bella

Amrut Distilleries, a leading player in the spirits industry, has unveiled Bella, the world’s first 100% jaggery-distilled and matured single rum. Made͏͏ from͏͏ nutrient-rich͏͏ jaggery͏͏ sourced͏͏ from͏͏ the͏͏ fertile͏͏ Sahyadri͏͏ range͏͏ and͏͏ Namma͏͏ Mandya,͏͏ Bella͏͏ has͏͏ been͏͏ meticulously͏͏ matured͏͏ for͏͏ six͏͏ years͏͏ in͏͏ ex-bourbon͏͏ barrels͏͏ under͏͏ tropical͏͏ conditions.͏͏ This͏͏ artisanal͏͏ rum͏͏ celebrates͏͏ India’s͏͏ rich͏͏ cultural͏͏ heritage͏͏ and͏͏ commemorates͏͏ the͏͏ 75th͏͏ anniversary͏͏ of͏͏ Amrut͏͏ Distilleries.

Honouring͏͏ Heritage͏͏ Through͏͏ Innovation:

Bella’s͏͏ creation͏͏ can͏͏ be͏͏ traced͏͏ back͏͏ to͏͏ the͏͏ visionary͏͏ leadership͏͏ of͏͏ Shri͏͏ Mr.͏͏ Neelkanta͏͏ Rao͏͏ Jagdale͏͏ (NRJ),͏͏ affectionately͏͏ known͏͏ as͏͏ the͏͏ Father͏͏ of͏͏ Indian͏͏ Single͏͏ Malt.͏͏ His͏͏ profound͏͏ respect͏͏ for͏͏ Indian͏͏ heritage͏͏ and͏͏ culture͏͏ inspired͏͏ the͏͏ development͏͏ of͏͏ Bella.͏͏ Amrut͏͏ has͏͏ revolutionised͏͏ the͏͏ whisky͏͏ industry͏͏ by͏͏ establishing͏͏ a͏͏ new͏͏ category,͏͏ and͏͏ with͏͏ the͏͏ launch͏͏ of͏͏ Bella,͏͏ the͏͏ brand͏͏ reinforces͏͏ its͏͏ commitment͏͏ to͏͏ innovation.͏͏ NRJ’s͏͏ passion͏͏ and͏͏ perseverance͏͏ drove͏͏ him͏͏ to͏͏ create͏͏ a͏͏ rum͏͏ from͏͏ jaggery,͏͏ despite͏͏ the͏͏ absence͏͏ of͏͏ licensing͏͏ provisions͏͏ in͏͏ the͏͏ Karnataka͏͏ Excise͏͏ rules͏͏ at͏͏ the͏͏ time.

“We͏͏ are͏͏ truly͏͏ honoured͏͏ to͏͏ showcase͏͏ my͏͏ Father’s͏͏ vision͏͏ of͏͏ 100%͏͏ Jaggery͏͏ Rum͏͏ today.͏͏ On͏͏ our͏͏ Founder’s͏͏ Day,͏͏ we͏͏ dedicate͏͏ Bella͏͏ to͏͏ him,͏͏ as͏͏ he͏͏ pioneered͏͏ this͏͏ category͏͏ by͏͏ engaging͏͏ with͏͏ the͏͏ progressive͏͏ Karnataka͏͏ Excise,͏͏ which͏͏ awarded͏͏ Amrut͏͏ the͏͏ first͏͏ license͏͏ in͏͏ India͏͏ to͏͏ distill͏͏ Jaggery͏͏ single͏͏ rum͏͏ in͏͏ 2012.͏͏ Following͏͏ a͏͏ soft͏͏ launch͏͏ of͏͏ Bella͏͏ in͏͏ July,͏͏ today͏͏ we͏͏ celebrate͏͏ its͏͏ global͏͏ launch͏͏ at͏͏ the͏͏ Sheraton͏͏ Grand͏͏ Bengaluru͏͏ Whitefield͏͏ Hotel͏͏ and͏͏ Convention͏͏ Centre,”͏͏ stated͏͏ Rakshit͏͏ N.͏͏ Jagdale,͏͏ Managing͏͏ Director͏͏ of͏͏ Amrut͏͏ Distilleries.

Continue͏͏ Exploring:͏͏ Amrut Distilleries wins͏͏ ‘World’s͏͏ Best͏͏ Whiskey’͏͏ title͏͏ at͏͏ 2024͏͏ International͏͏ Spirits͏͏ Challenge

Launch͏͏ at͏͏ Sheraton͏͏ Grand:

“At͏͏ Sheraton͏͏ Grand͏͏ Bengaluru͏͏ Whitefield,͏͏ we͏͏ are͏͏ honoured͏͏ to͏͏ collaborate͏͏ with͏͏ iconic͏͏ brands͏͏ that͏͏ showcase͏͏ India’s͏͏ heritage͏͏ and͏͏ creativity.͏͏ Hosting͏͏ the͏͏ global͏͏ launch͏͏ of͏͏ Bella͏͏ is͏͏ a͏͏ remarkable͏͏ opportunity͏͏ for͏͏ us.͏͏ This͏͏ 100%͏͏ jaggery-distilled͏͏ single͏͏ rum͏͏ introduces͏͏ a͏͏ fascinating͏͏ narrative͏͏ to͏͏ the͏͏ spirits͏͏ market,͏͏ and͏͏ we͏͏ are͏͏ excited͏͏ to͏͏ celebrate͏͏ this͏͏ momentous͏͏ event,”͏͏ said͏͏ Sanjay͏͏ Gupta,͏͏ General͏͏ Manager͏͏ of͏͏ Sheraton͏͏ Grand͏͏ Bengaluru͏͏ Whitefield͏͏ Hotel͏͏ and͏͏ Convention͏͏ Centre.

India͏͏ has͏͏ a͏͏ rich͏͏ history͏͏ of͏͏ rum͏͏ production,͏͏ primarily͏͏ using͏͏ molasses͏͏ and,͏͏ at͏͏ times,͏͏ cane͏͏ juice.͏͏ In͏͏ 2013,͏͏ Amrut͏͏ made͏͏ a͏͏ significant͏͏ breakthrough͏͏ with͏͏ the͏͏ introduction͏͏ of͏͏ Two͏͏ Indies͏͏ Rum,͏͏ a͏͏ distinctive͏͏ blend͏͏ of͏͏ Indian͏͏ jaggery͏͏ and͏͏ Caribbean͏͏ molasses,͏͏ representing͏͏ a͏͏ unique͏͏ fusion͏͏ of͏͏ the͏͏ East͏͏ (India)͏͏ and͏͏ the͏͏ West͏͏ (the͏͏ Caribbean).͏͏ With͏͏ the͏͏ launch͏͏ of͏͏ Bella,͏͏ Amrut͏͏ builds͏͏ on͏͏ this͏͏ legacy͏͏ by͏͏ celebrating͏͏ the͏͏ country’s͏͏ ancient͏͏ relationship͏͏ with͏͏ jaggery,͏͏ a͏͏ natural͏͏ sweetener.

India͏͏ is͏͏ renowned͏͏ as͏͏ the͏͏ first͏͏ producer͏͏ of͏͏ jaggery,͏͏ with͏͏ its͏͏ roots͏͏ extending͏͏ back͏͏ to͏͏ the͏͏ Indus͏͏ Valley͏͏ Civilization.͏͏ However,͏͏ during͏͏ colonization,͏͏ the͏͏ proliferation͏͏ of͏͏ sugar͏͏ mills͏͏ resulted͏͏ in͏͏ the͏͏ widespread͏͏ production͏͏ of͏͏ refined͏͏ sugar,͏͏ which͏͏ gradually͏͏ eclipsed͏͏ jaggery.͏͏ Now,͏͏ 75͏͏ years͏͏ later,͏͏ Bella͏͏ embodies͏͏ Amrut’s͏͏ profound͏͏ appreciation͏͏ for͏͏ this͏͏ enchanting͏͏ ingredient.͏͏ Jaggery͏͏ continues͏͏ to͏͏ be͏͏ a͏͏ staple͏͏ in͏͏ Indian͏͏ households,͏͏ commonly͏͏ used͏͏ to͏͏ create͏͏ sweet͏͏ treats͏͏ for͏͏ special͏͏ occasions.

The͏͏ name͏͏ Bella͏͏ is͏͏ particularly͏͏ meaningful,͏͏ as͏͏ it͏͏ means͏͏ “jaggery”͏͏ in͏͏ Kannada,͏͏ the͏͏ language͏͏ of͏͏ 67͏͏ million͏͏ people͏͏ in͏͏ Karnataka,͏͏ where͏͏ Amrut͏͏ Distillery͏͏ is͏͏ located.͏͏ Amrut’s͏͏ leadership͏͏ is͏͏ wholeheartedly͏͏ committed͏͏ to͏͏ celebrating͏͏ the͏͏ roots͏͏ of͏͏ this͏͏ exceptional͏͏ product.

As͏͏ Bella͏͏ makes͏͏ its͏͏ global͏͏ debut,͏͏ it͏͏ not͏͏ only͏͏ introduces͏͏ a͏͏ distinctive͏͏ rum͏͏ but͏͏ also͏͏ heralds͏͏ the͏͏ establishment͏͏ of͏͏ a͏͏ new͏͏ category:͏͏ Premium͏͏ Indian͏͏ Rums.͏͏ Amrut’s͏͏ deep͏͏ connection͏͏ to͏͏ its͏͏ cultural͏͏ roots͏͏ is͏͏ evident,͏͏ and͏͏ with͏͏ the͏͏ launch͏͏ of͏͏ Bella,͏͏ the͏͏ distillery͏͏ honours͏͏ India’s͏͏ rich͏͏ heritage͏͏ while͏͏ fostering͏͏ pride͏͏ among͏͏ both͏͏ domestic͏͏ and͏͏ international͏͏ patrons.

Continue͏͏ Exploring:͏͏ Amrut unveils͏͏ exclusive͏͏ Bagheera͏͏ and͏͏ Portonova͏͏ whiskies͏͏ in͏͏ Gurgaon͏͏ market

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ITC Sunfeast Baked Creations expands with first cafe in Bangalore

By
M Haziq Pandit
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0
ITC Sunfeast Baked Creations cafe

ITC Sunfeast Baked Creations, known for its success in the food delivery market with its popular Croissants and Pull-Apart Bagels, has introduced its first Bakery Café at the FabIndia Experience Store in Whitefield, Bangalore. This͏͏ launch͏͏ marks͏͏ a͏͏ key͏͏ step͏͏ in͏͏ the͏͏ brand’s͏͏ transformation͏͏ from͏͏ a͏͏ cloud-kitchen͏͏ bakery͏͏ to͏͏ an͏͏ omni-channel͏͏ presence,͏͏ offering͏͏ Bangaloreans͏͏ a͏͏ premium͏͏ bakery͏͏ café͏͏ experience.

Curated͏͏ Selection͏͏ of͏͏ Premium͏͏ Baked͏͏ Goods:

This͏͏ meticulously͏͏ designed͏͏ café͏͏ offers͏͏ Bangaloreans͏͏ a͏͏ premium͏͏ culinary͏͏ experience͏͏ with͏͏ a͏͏ curated͏͏ selection͏͏ of͏͏ products,͏͏ including͏͏ Croissants͏͏ and͏͏ Sandwiches,͏͏ Pull-Apart͏͏ Bagels͏͏ and͏͏ Bagel͏͏ Toasties,͏͏ Desserts͏͏ and͏͏ Pastries,͏͏ and͏͏ Celebration͏͏ Cakes.͏͏ Each͏͏ item͏͏ is͏͏ crafted͏͏ by͏͏ ITC’s͏͏ culinary͏͏ experts͏͏ using͏͏ high-quality͏͏ ingredients͏͏ tailored͏͏ to͏͏ suit͏͏ Indian͏͏ tastes.͏͏ These͏͏ baked͏͏ delights͏͏ are͏͏ complemented͏͏ by͏͏ ITC’s͏͏ Sunbean͏͏ Gourmet͏͏ Coffee,͏͏ enhancing͏͏ the͏͏ overall͏͏ dining͏͏ experience.

Continue͏͏ Exploring:͏͏ ITC ramps͏͏ up͏͏ cloud͏͏ kitchen͏͏ operations,͏͏ targets͏͏ major͏͏ Indian͏͏ cities

Indian͏͏ cricketer͏͏ and͏͏ food͏͏ enthusiast͏͏ Shreyanka͏͏ Patil͏͏ attended͏͏ the͏͏ event͏͏ as͏͏ the͏͏ Chief͏͏ Guest,͏͏ sharing͏͏ her͏͏ excitement͏͏ about͏͏ the͏͏ collaboration.͏͏ “I’m͏͏ thrilled͏͏ to͏͏ be͏͏ associated͏͏ with͏͏ a͏͏ brand͏͏ whose͏͏ products͏͏ I’ve͏͏ enjoyed͏͏ countless͏͏ times͏͏ and͏͏ absolutely͏͏ love!͏͏ My͏͏ personal͏͏ favourites͏͏ are͏͏ the͏͏ Frangipane͏͏ Almond͏͏ Croissant,͏͏ Dark͏͏ Fantasy͏͏ Chocofill͏͏ Croissant,͏͏ and͏͏ Trinity͏͏ Ganache͏͏ Pastry.͏͏ I͏͏ highly͏͏ recommend͏͏ trying͏͏ them,”͏͏ she͏͏ said.

ITC Sunfeast Baked Creations Aims͏͏ to͏͏ Redefine͏͏ Bakery͏͏ Standards:

Rohit͏͏ Bhalla,͏͏ Food-Tech͏͏ Business͏͏ Head͏͏ at͏͏ ITC͏͏ Limited,͏͏ shared͏͏ his͏͏ excitement͏͏ about͏͏ the͏͏ launch,͏͏ stating,͏͏ “This͏͏ café͏͏ is͏͏ more͏͏ than͏͏ just͏͏ a͏͏ new͏͏ outlet;͏͏ it͏͏ embodies͏͏ ITC͏͏ Sunfeast͏͏ Baked͏͏ Creations’͏͏ commitment͏͏ to͏͏ bringing͏͏ a͏͏ ‘World͏͏ of͏͏ Bakery’͏͏ to͏͏ Indian͏͏ consumers,͏͏ elevating͏͏ their͏͏ bakery͏͏ experience͏͏ to͏͏ global͏͏ standards.͏͏ Our͏͏ Croissants͏͏ and͏͏ Pull-Apart͏͏ Bagels͏͏ have͏͏ already͏͏ gained͏͏ significant͏͏ popularity͏͏ through͏͏ delivery,͏͏ and͏͏ this͏͏ café͏͏ will͏͏ accelerate͏͏ our͏͏ plans͏͏ to͏͏ introduce͏͏ even͏͏ more͏͏ exciting͏͏ innovations͏͏ in͏͏ the͏͏ bakery͏͏ space.͏͏ This͏͏ launch͏͏ isn’t͏͏ merely͏͏ another͏͏ addition͏͏ to͏͏ Bangalore’s͏͏ dining͏͏ scene;͏͏ it’s͏͏ a͏͏ testament͏͏ to͏͏ ITC͏͏ Sunfeast͏͏ Baked͏͏ Creations’͏͏ evolving͏͏ vision͏͏ and͏͏ dedication͏͏ to͏͏ delivering͏͏ exceptional͏͏ experiences͏͏ to͏͏ customers͏͏ and͏͏ café͏͏ lovers͏͏ across͏͏ the͏͏ city.”

With͏͏ seating͏͏ for͏͏ up͏͏ to͏͏ 30͏͏ guests,͏͏ the͏͏ café͏͏ is͏͏ an͏͏ ideal͏͏ spot͏͏ for͏͏ both͏͏ intimate͏͏ gatherings͏͏ and͏͏ larger͏͏ celebrations,͏͏ providing͏͏ a͏͏ welcoming͏͏ atmosphere͏͏ for͏͏ customers͏͏ to͏͏ enjoy͏͏ ITC͏͏ Sunfeast͏͏ Baked͏͏ Creations’͏͏ exclusive͏͏ range͏͏ of͏͏ offerings.

Looking͏͏ ahead,͏͏ ITC͏͏ Sunfeast͏͏ Baked͏͏ Creations͏͏ aims͏͏ to͏͏ expand͏͏ its͏͏ bakery͏͏ café͏͏ presence͏͏ in͏͏ Bangalore͏͏ with͏͏ upcoming͏͏ locations͏͏ on͏͏ MG͏͏ Road͏͏ and͏͏ in͏͏ Jayanagar,͏͏ along͏͏ with͏͏ potential͏͏ plans͏͏ for͏͏ expansion͏͏ into͏͏ Chennai.͏͏ These͏͏ new͏͏ venues͏͏ will͏͏ further͏͏ the͏͏ brand’s͏͏ vision͏͏ of͏͏ enhancing͏͏ the͏͏ bakery͏͏ experience͏͏ for͏͏ its͏͏ customers.

Continue͏͏ Exploring:͏͏ Small͏͏ to͏͏ mid-sized͏͏ global͏͏ cafe chains͏͏ surge͏͏ in͏͏ India͏͏ as͏͏ large͏͏ players͏͏ struggle͏͏ with͏͏ declining͏͏ sales

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