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Rich’s unveils Versatie Gold Cooking Cream, expanding culinary lineup

By
M Haziq Pandit
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0
Rich's

Rich’s, a prominent name in bakery and culinary innovations, has unveiled Versatie Gold Cooking Cream,͏͏ an͏͏ all-in-one͏͏ solution͏͏ for͏͏ both͏͏ hot͏͏ and͏͏ cold͏͏ applications.͏͏ Marketed͏͏ as͏͏ “One͏͏ Cream,͏͏ Endless͏͏ Possibilities,”͏͏ this͏͏ new͏͏ product͏͏ aims͏͏ to͏͏ meet͏͏ the͏͏ diverse͏͏ needs͏͏ of͏͏ professional͏͏ chefs͏͏ and͏͏ industrial͏͏ kitchens,͏͏ redefining͏͏ possibilities͏͏ in͏͏ the͏͏ culinary͏͏ realm.

Endless͏͏ Culinary͏͏ Possibilities:

With͏͏ its͏͏ rich͏͏ and͏͏ creamy͏͏ texture,͏͏ Versatie͏͏ Gold͏͏ Cooking͏͏ Cream͏͏ is͏͏ an͏͏ essential͏͏ kitchen͏͏ ingredient͏͏ that͏͏ enhances͏͏ a͏͏ wide͏͏ range͏͏ of͏͏ dishes.͏͏ Unlike͏͏ other͏͏ creams͏͏ that͏͏ may͏͏ split͏͏ or͏͏ separate͏͏ at͏͏ high͏͏ temperatures,͏͏ Versatie͏͏ Gold͏͏ retains͏͏ its͏͏ consistency,͏͏ delivering͏͏ perfect͏͏ results͏͏ consistently.͏͏ It’s͏͏ perfect͏͏ for͏͏ gravies,͏͏ pastas,͏͏ dips,͏͏ and͏͏ tandoori͏͏ dishes͏͏ like͏͏ Butter͏͏ Chicken,͏͏ Dal͏͏ Makhni,͏͏ Paneer͏͏ Lababdaar,͏͏ and͏͏ Soya͏͏ Chaap,͏͏ all͏͏ without͏͏ the͏͏ risk͏͏ of͏͏ curdling.͏͏ Its͏͏ smooth͏͏ coating͏͏ and͏͏ luxurious͏͏ mouthfeel͏͏ enhance͏͏ both͏͏ the͏͏ appearance͏͏ and͏͏ flavour͏͏ of͏͏ dishes,͏͏ making͏͏ it͏͏ a͏͏ top͏͏ choice͏͏ for͏͏ chefs.

Continue͏͏ Exploring:͏͏ After͏͏ four͏͏ years͏͏ of͏͏ R&D,͏͏ Kikkoman͏͏ launches͏͏ exclusive͏͏ dark͏͏ soy͏͏ sauce͏͏ tailored͏͏ for͏͏ the͏͏ Indian͏͏ market

Pankaj͏͏ Chaturvedi,͏͏ Managing͏͏ Director͏͏ of͏͏ Rich͏͏ Products͏͏ &͏͏ Solutions͏͏ Pvt.͏͏ Ltd.͏͏ (RPSPL),͏͏ stated,͏͏ “Versatie͏͏ Gold͏͏ Cooking͏͏ Cream͏͏ is͏͏ a͏͏ revolutionary͏͏ product͏͏ in͏͏ the͏͏ culinary͏͏ industry.͏͏ Its͏͏ versatility͏͏ and͏͏ outstanding͏͏ performance͏͏ in͏͏ both͏͏ hot͏͏ and͏͏ cold͏͏ applications͏͏ make͏͏ it͏͏ an͏͏ essential͏͏ tool͏͏ for͏͏ chefs,͏͏ industrial͏͏ kitchens,͏͏ and͏͏ caterers.͏͏ We͏͏ believe͏͏ this͏͏ product͏͏ will͏͏ inspire͏͏ culinary͏͏ creativity͏͏ and͏͏ take͏͏ dishes͏͏ to͏͏ new͏͏ heights͏͏ in͏͏ the͏͏ HORECA͏͏ segment.”

The͏͏ cream’s͏͏ shelf-stable͏͏ format͏͏ provides͏͏ convenient͏͏ storage͏͏ and͏͏ use,͏͏ while͏͏ its͏͏ versatility͏͏ spans͏͏ both͏͏ savory͏͏ and͏͏ sweet͏͏ dishes.͏͏ When͏͏ refrigerated,͏͏ it͏͏ thickens,͏͏ making͏͏ it͏͏ perfect͏͏ for͏͏ fruit͏͏ creams͏͏ and͏͏ desserts͏͏ with͏͏ a͏͏ smooth,͏͏ silky͏͏ texture.

A͏͏ Chef’s͏͏ Essential͏͏ Ingredient:

Culinary͏͏ experts͏͏ have͏͏ lauded͏͏ Versatie͏͏ Gold͏͏ for͏͏ its͏͏ user-friendliness͏͏ and͏͏ its͏͏ ability͏͏ to͏͏ maintain͏͏ thickness͏͏ while͏͏ enhancing͏͏ texture͏͏ in͏͏ various͏͏ dishes,͏͏ especially͏͏ Indian͏͏ gravies.͏͏ Its͏͏ stability͏͏ with͏͏ acidic͏͏ ingredients͏͏ such͏͏ as͏͏ tomatoes,͏͏ pineapple,͏͏ and͏͏ tamarind͏͏ means͏͏ it͏͏ won’t͏͏ curdle,͏͏ even͏͏ when͏͏ combined͏͏ with͏͏ citrus͏͏ or͏͏ vinegar.

Reinforcing͏͏ Rich’s͏͏ Commitment͏͏ to͏͏ Innovation:

With͏͏ the͏͏ launch͏͏ of͏͏ Versatie͏͏ Gold͏͏ Cooking͏͏ Cream,͏͏ Rich’s͏͏ reinforces͏͏ its͏͏ reputation͏͏ for͏͏ delivering͏͏ innovative͏͏ solutions͏͏ to͏͏ the͏͏ culinary͏͏ industry,͏͏ enabling͏͏ chefs͏͏ to͏͏ craft͏͏ dishes͏͏ that͏͏ excel͏͏ in͏͏ both͏͏ flavour͏͏ and͏͏ presentation.

Continue͏͏ Exploring:͏͏ MasterChow͏͏ and͏͏ Chef͏͏ Ranveer͏͏ Brar͏͏ take͏͏ ‘Asli͏͏ Chinese’͏͏ campaign͏͏ up͏͏ a͏͏ notch͏͏ with͏͏ new͏͏ Schezwan͏͏ Chutney͏͏ launch

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Nykaa strengthens GCC footprint with new subsidiary Nysaa Trading LLC in Saudi Arabia

By
M Haziq Pandit
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0
Nykaa

As part of its strategy to expand internationally, beauty and fashion e-commerce giant Nykaa has established a wholly-owned subsidiary in Saudi Arabia, named Nysaa Trading LLC.

In͏͏ an͏͏ exchange͏͏ filing͏͏ today͏͏ (September͏͏ 20),͏͏ the͏͏ company͏͏ announced͏͏ that͏͏ Nysaa͏͏ Trading͏͏ LLC͏͏ is͏͏ a͏͏ wholly͏͏ owned͏͏ subsidiary͏͏ of͏͏ Nessa͏͏ International͏͏ Holdings,͏͏ which͏͏ is͏͏ a͏͏ step-down͏͏ subsidiary͏͏ of͏͏ Nykaa’s͏͏ parent,͏͏ FSN͏͏ E-commerce͏͏ Ventures.

Diverse͏͏ Product͏͏ Offering:

The͏͏ newly͏͏ incorporated͏͏ subsidiary͏͏ will͏͏ sell͏͏ beauty͏͏ and͏͏ personal͏͏ care͏͏ (BPC)͏͏ products͏͏ in͏͏ both͏͏ international͏͏ and͏͏ domestic͏͏ markets͏͏ through͏͏ online͏͏ and͏͏ offline͏͏ channels.͏͏ This͏͏ range͏͏ will͏͏ include͏͏ cosmetics,͏͏ toiletries,͏͏ beauty͏͏ and͏͏ hair͏͏ care͏͏ products,͏͏ perfumes,͏͏ and͏͏ beauty͏͏ soaps.

Ownership͏͏ and͏͏ Investment͏͏ Details:

Nysaa͏͏ Trading͏͏ LLC͏͏ has͏͏ been͏͏ established͏͏ with͏͏ a͏͏ subscribed͏͏ share͏͏ capital͏͏ of͏͏ 3͏͏ lakh͏͏ Saudi͏͏ Riyals͏͏ (approximately͏͏ INR͏͏ 6.67͏͏ crore).͏͏ Nessa͏͏ International͏͏ will͏͏ own͏͏ a͏͏ 100%͏͏ stake͏͏ in͏͏ Nysaa͏͏ Trading,͏͏ while͏͏ Nykaa’s͏͏ parent͏͏ company͏͏ will͏͏ indirectly͏͏ hold͏͏ a͏͏ 55%͏͏ stake.

However,͏͏ the͏͏ newly͏͏ incorporated͏͏ Nykaa͏͏ subsidiary͏͏ has͏͏ not͏͏ yet͏͏ begun͏͏ business͏͏ operations.

Growing͏͏ Middle͏͏ East͏͏ Presence:

This͏͏ development͏͏ coincides͏͏ with͏͏ Nykaa’s͏͏ efforts͏͏ to͏͏ strengthen͏͏ its͏͏ presence͏͏ in͏͏ the͏͏ Middle͏͏ East.͏͏ In͏͏ July͏͏ of͏͏ this͏͏ year,͏͏ the͏͏ company͏͏ established͏͏ a͏͏ wholly͏͏ owned͏͏ subsidiary͏͏ in͏͏ Qatar,͏͏ named͏͏ Nysaa͏͏ Cosmetics͏͏ Trading.

Continue͏͏ Exploring:͏͏ Nykaa expands͏͏ Middle͏͏ Eastern͏͏ presence͏͏ with͏͏ new͏͏ Qatar͏͏ subsidiary

Earlier͏͏ this͏͏ year,͏͏ Nykaa͏͏ launched͏͏ its͏͏ first͏͏ physical͏͏ store͏͏ under͏͏ the͏͏ Nysaa͏͏ brand͏͏ in͏͏ Dubai,͏͏ marking͏͏ its͏͏ entry͏͏ into͏͏ the͏͏ international͏͏ market.͏͏ The͏͏ company,͏͏ led͏͏ by͏͏ Falguni͏͏ Nayar,͏͏ plans͏͏ to͏͏ invest͏͏ $4.4͏͏ million͏͏ in͏͏ Nysaa.

Notably,͏͏ in͏͏ 2022,͏͏ Nykaa͏͏ partnered͏͏ with͏͏ Apparel͏͏ Group,͏͏ one͏͏ of͏͏ the͏͏ largest͏͏ omnichannel͏͏ retailers͏͏ in͏͏ the͏͏ UAE,͏͏ to͏͏ enter͏͏ the͏͏ Gulf͏͏ Cooperation͏͏ Council͏͏ (GCC)͏͏ region.

Nykaa͏͏ plans͏͏ to͏͏ open͏͏ 70͏͏ stores͏͏ in͏͏ the͏͏ GCC͏͏ market͏͏ under͏͏ the͏͏ Nysaa͏͏ brand͏͏ over͏͏ the͏͏ next͏͏ five͏͏ years.͏͏ The͏͏ company͏͏ aims͏͏ to͏͏ capture͏͏ a͏͏ 7%͏͏ share͏͏ of͏͏ the͏͏ GCC͏͏ beauty͏͏ market͏͏ during͏͏ this͏͏ time,͏͏ as͏͏ stated͏͏ during͏͏ its͏͏ ‘Annual͏͏ Investor͏͏ Day’.

Nykaa’s͏͏ focus͏͏ on͏͏ the͏͏ GCC͏͏ beauty͏͏ market͏͏ is͏͏ well-founded,͏͏ as͏͏ the͏͏ region͏͏ boasts͏͏ a͏͏ remarkable͏͏ per͏͏ capita͏͏ spending͏͏ of͏͏ $500͏͏ on͏͏ beauty͏͏ and͏͏ personal͏͏ care͏͏ products,͏͏ making͏͏ it͏͏ one͏͏ of͏͏ the͏͏ highest͏͏ globally.

In͏͏ India,͏͏ Nykaa͏͏ has͏͏ enhanced͏͏ its͏͏ same-day͏͏ and͏͏ next-day͏͏ delivery͏͏ services.͏͏ During͏͏ the͏͏ company’s͏͏ 12th͏͏ annual͏͏ general͏͏ meeting,͏͏ Chairman͏͏ and͏͏ CEO͏͏ Falguni͏͏ Nayar͏͏ announced͏͏ that͏͏ 60%͏͏ of͏͏ orders͏͏ are͏͏ now͏͏ delivered͏͏ the͏͏ next͏͏ day͏͏ in͏͏ the͏͏ top͏͏ 110͏͏ cities,͏͏ which͏͏ represent͏͏ two-thirds͏͏ of͏͏ the͏͏ company’s͏͏ overall͏͏ order͏͏ volumes.

Continue͏͏ Exploring:͏͏ Nykaa accelerates͏͏ same-day͏͏ and͏͏ next-day͏͏ deliveries,͏͏ achieves͏͏ 60%͏͏ fulfillment͏͏ rate͏͏ in͏͏ 110͏͏ cities

However,͏͏ earlier͏͏ this͏͏ month,͏͏ Kotak͏͏ Institutional͏͏ Equities͏͏ downgraded͏͏ Nykaa͏͏ from͏͏ ‘add’͏͏ to͏͏ ‘sell’͏͏ and͏͏ reduced͏͏ its͏͏ fair͏͏ value͏͏ estimate͏͏ from͏͏ INR͏͏ 195͏͏ to͏͏ INR͏͏ 190.͏͏ This͏͏ indicates͏͏ a͏͏ potential͏͏ downside͏͏ of͏͏ over͏͏ 5%͏͏ from͏͏ the͏͏ stock’s͏͏ previous͏͏ close.

Stock͏͏ Performance͏͏ Update:

Shares͏͏ of͏͏ Nykaa͏͏ were͏͏ trading͏͏ 1.22%͏͏ higher͏͏ at͏͏ INR͏͏ 203.50͏͏ each͏͏ on͏͏ the͏͏ BSE͏͏ today͏͏ at͏͏ 1:35͏͏ PM.

Nykaa͏͏ operates͏͏ in͏͏ India’s͏͏ rapidly͏͏ expanding͏͏ beauty͏͏ and͏͏ personal͏͏ care͏͏ market,͏͏ which͏͏ is͏͏ projected͏͏ to͏͏ exceed͏͏ $28͏͏ billion͏͏ by͏͏ 2030,͏͏ representing͏͏ 7%͏͏ of͏͏ the͏͏ overall͏͏ e-commerce͏͏ market.

Continue͏͏ Exploring:͏͏ Nykaa’s͏͏ Q1͏͏ FY25͏͏ net͏͏ profit͏͏ soars͏͏ 152%͏͏ to͏͏ INR͏͏ 13.6͏͏ Cr;͏͏ revenue͏͏ up͏͏ 22.8%

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After BigBasket, Blinkit steps up with 10-minute iPhone 16 deliveries

By
M Haziq Pandit
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0
Blinkit

A day after Tata Digital-owned BigBasket introduced 10-minute delivery for electronic products, including the newly-launched iPhone 16, Blinkit entered͏͏ the͏͏ race͏͏ for͏͏ dominance͏͏ in͏͏ the͏͏ quick͏͏ commerce͏͏ sector,͏͏ offering͏͏ fast͏͏ delivery͏͏ of͏͏ the͏͏ device͏͏ in͏͏ major͏͏ cities.

Blinkit͏͏ rolled͏͏ out͏͏ the͏͏ service͏͏ in͏͏ collaboration͏͏ with͏͏ Unicorn͏͏ Infosolutions͏͏ Pvt.͏͏ Ltd.

CEO͏͏ Albinder͏͏ Dhindsa͏͏ Announces͏͏ New͏͏ Service:

Blinkit͏͏ CEO͏͏ Albinder Dhindsa announced͏͏ on͏͏ LinkedIn͏͏ that͏͏ the͏͏ iPhone͏͏ 16͏͏ is͏͏ now͏͏ available͏͏ for͏͏ quick͏͏ delivery͏͏ in͏͏ cities͏͏ such͏͏ as͏͏ Delhi͏͏ NCR,͏͏ Mumbai,͏͏ Pune,͏͏ Bengaluru,͏͏ Lucknow,͏͏ and͏͏ more.

Dhindsa͏͏ added͏͏ that͏͏ Unicorn͏͏ Infosolutions͏͏ is͏͏ offering͏͏ discounts͏͏ with͏͏ select͏͏ credit͏͏ cards,͏͏ along͏͏ with͏͏ EMI͏͏ options.

BigBasket͏͏ teamed͏͏ up͏͏ with͏͏ Croma͏͏ yesterday͏͏ (September͏͏ 19)͏͏ to͏͏ launch͏͏ its͏͏ rapid͏͏ delivery͏͏ service͏͏ for͏͏ the͏͏ iPhone͏͏ 16.

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

Competition͏͏ Heats͏͏ Up͏͏ Among͏͏ Quick Commerce Giants:

As͏͏ the͏͏ highly͏͏ anticipated͏͏ sale͏͏ of͏͏ Apple’s͏͏ iPhone͏͏ 16͏͏ begins͏͏ today͏͏ (September͏͏ 20),͏͏ quick͏͏ commerce͏͏ giants͏͏ BigBasket,͏͏ Blinkit,͏͏ and͏͏ Zepto͏͏ are͏͏ competing͏͏ to͏͏ seize͏͏ a͏͏ share͏͏ of͏͏ the͏͏ electronics͏͏ market.

The͏͏ move͏͏ into͏͏ electronics͏͏ quick͏͏ commerce͏͏ aligns͏͏ with͏͏ the͏͏ thriving͏͏ electronics͏͏ market͏͏ in͏͏ India.͏͏ Additionally,͏͏ these͏͏ companies͏͏ are͏͏ broadening͏͏ their͏͏ electronics͏͏ offerings͏͏ to͏͏ increase͏͏ their͏͏ average͏͏ order͏͏ value͏͏ (AOV)͏͏ and͏͏ gross͏͏ volumes.

Blinkit,͏͏ in͏͏ particular,͏͏ topped͏͏ the͏͏ quick͏͏ commerce͏͏ sector͏͏ with͏͏ an͏͏ average͏͏ order͏͏ value͏͏ (AOV)͏͏ of͏͏ INR͏͏ 625͏͏ for͏͏ the͏͏ quarter͏͏ ending͏͏ in͏͏ June.

Significantly,͏͏ Blinkit’s͏͏ gross͏͏ order͏͏ value͏͏ (GOV)͏͏ skyrocketed͏͏ by͏͏ 130%͏͏ to͏͏ INR͏͏ 4,923͏͏ crore͏͏ in͏͏ Q1͏͏ FY25,͏͏ up͏͏ from͏͏ INR͏͏ 2,140͏͏ crore͏͏ in͏͏ the͏͏ same͏͏ quarter͏͏ last͏͏ year.͏͏ On͏͏ a͏͏ sequential͏͏ basis,͏͏ it͏͏ increased͏͏ by͏͏ 22.2%͏͏ from͏͏ INR͏͏ 4,027͏͏ crore͏͏ in͏͏ Q4͏͏ FY24.

Expansion͏͏ Plans͏͏ for͏͏ Blinkit:

Blinkit͏͏ currently͏͏ operates͏͏ 639͏͏ dark͏͏ stores͏͏ nationwide,͏͏ with͏͏ the͏͏ average͏͏ daily͏͏ gross͏͏ order͏͏ value͏͏ (GOV)͏͏ per͏͏ store͏͏ rising͏͏ to͏͏ INR͏͏ 10͏͏ lakh,͏͏ up͏͏ from͏͏ INR͏͏ 6͏͏ lakh͏͏ when͏͏ it͏͏ had͏͏ 383͏͏ stores.͏͏ Co-founder͏͏ and͏͏ CEO͏͏ Albinder͏͏ Dhindsa͏͏ stated͏͏ that͏͏ the͏͏ company͏͏ aims͏͏ to͏͏ expand͏͏ the͏͏ number͏͏ of͏͏ dark͏͏ stores͏͏ to͏͏ 2,000͏͏ by͏͏ the͏͏ end͏͏ of͏͏ 2026͏͏ while͏͏ maintaining͏͏ profitability.

This͏͏ initiative͏͏ also͏͏ aligns͏͏ with͏͏ Zomato’s͏͏ strategy͏͏ to͏͏ diversify͏͏ its͏͏ product͏͏ offerings.͏͏ Last͏͏ month,͏͏ the͏͏ company͏͏ started͏͏ delivering͏͏ passport-sized͏͏ photos͏͏ within͏͏ 10͏͏ minutes͏͏ in͏͏ Delhi͏͏ and͏͏ Gurugram.

It’s͏͏ worth͏͏ noting͏͏ that͏͏ Zomato͏͏ maintained͏͏ its͏͏ profitability͏͏ in͏͏ the͏͏ first͏͏ quarter͏͏ of͏͏ FY25,͏͏ with͏͏ its͏͏ quick͏͏ commerce͏͏ vertical,͏͏ Blinkit,͏͏ taking͏͏ the͏͏ lead͏͏ once͏͏ again.

During͏͏ the͏͏ quarter͏͏ under͏͏ review,͏͏ Zomato’s͏͏ three͏͏ B2C͏͏ business͏͏ verticals—food͏͏ delivery,͏͏ quick͏͏ commerce,͏͏ and͏͏ going͏͏ out—saw͏͏ a͏͏ 53%͏͏ year-on-year͏͏ (YoY)͏͏ increase͏͏ in͏͏ gross͏͏ order͏͏ value͏͏ (GOV),͏͏ while͏͏ Blinkit’s͏͏ GOV͏͏ soared͏͏ by͏͏ 130%͏͏ YoY.

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

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E-commerce sales in India expected to hit $12 Bn this festive season, up 23% from last year

By
M Haziq Pandit
-
0
e-commerce

E-commerce companies and online sellers are͏͏ projected͏͏ to͏͏ deliver͏͏ merchandise͏͏ valued͏͏ at͏͏ $12͏͏ billion͏͏ to͏͏ consumers͏͏ in͏͏ India͏͏ this͏͏ festive͏͏ season,͏͏ marking͏͏ a͏͏ 23%͏͏ increase͏͏ from͏͏ approximately͏͏ $9.7͏͏ billion͏͏ last͏͏ year,͏͏ according͏͏ to͏͏ market͏͏ research͏͏ firm͏͏ Datum͏͏ Intelligence.

Quick͏͏ Commerce͏͏ Gains͏͏ Traction:

According͏͏ to͏͏ the͏͏ report,͏͏ quick͏͏ commerce͏͏ is͏͏ expected͏͏ to͏͏ represent͏͏ $1͏͏ billion͏͏ of͏͏ these͏͏ e-commerce͏͏ sales͏͏ in͏͏ terms͏͏ of͏͏ gross͏͏ merchandise͏͏ value͏͏ (GMV).͏͏ GMV͏͏ refers͏͏ to͏͏ the͏͏ total͏͏ value͏͏ of͏͏ goods͏͏ sold͏͏ on͏͏ e-commerce͏͏ platforms,͏͏ excluding͏͏ discounts͏͏ and͏͏ returns.

Diwali͏͏ Sales:͏͏ Key͏͏ Period͏͏ for͏͏ E-commerce Growth

E-commerce͏͏ platforms,͏͏ their͏͏ sellers,͏͏ and͏͏ major͏͏ brands͏͏ are͏͏ gearing͏͏ up͏͏ for͏͏ strong͏͏ sales͏͏ during͏͏ the͏͏ festive͏͏ season.͏͏ This͏͏ two-month͏͏ period,͏͏ culminating͏͏ in͏͏ Diwali,͏͏ usually͏͏ accounts͏͏ for͏͏ a͏͏ substantial͏͏ share͏͏ of͏͏ revenue͏͏ for͏͏ e-commerce͏͏ companies͏͏ and͏͏ other͏͏ retailers.

Continue͏͏ Exploring:͏͏ E-commerce and͏͏ logistics͏͏ firms͏͏ target͏͏ smaller͏͏ cities͏͏ for͏͏ expansion͏͏ this͏͏ festive͏͏ season

Major͏͏ Players͏͏ Gear͏͏ Up:͏͏ New͏͏ Categories͏͏ and͏͏ Inventory

This͏͏ year,͏͏ quick-commerce͏͏ platforms͏͏ such͏͏ as͏͏ Zomato-owned͏͏ Blinkit,͏͏ Swiggy͏͏ Instamart,͏͏ Mumbai-based͏͏ Zepto,͏͏ and͏͏ BigBasket’s͏͏ BB͏͏ Now͏͏ are͏͏ gearing͏͏ up͏͏ for͏͏ a͏͏ dynamic͏͏ Diwali,͏͏ aiming͏͏ to͏͏ secure͏͏ a͏͏ larger͏͏ market͏͏ share.

“Quick͏͏ commerce͏͏ is͏͏ the͏͏ standout͏͏ this͏͏ year.͏͏ While͏͏ there͏͏ will͏͏ still͏͏ be͏͏ significant͏͏ non-grocery͏͏ and͏͏ non-BPC͏͏ (beauty͏͏ and͏͏ personal͏͏ care)͏͏ purchases,͏͏ quick͏͏ commerce͏͏ will͏͏ be͏͏ the͏͏ dominant͏͏ player͏͏ in͏͏ this͏͏ category,”͏͏ said͏͏ Satish͏͏ Meena,͏͏ an͏͏ advisor͏͏ at͏͏ Datum͏͏ Intelligence.͏͏ “This͏͏ trend͏͏ is͏͏ not͏͏ only͏͏ impacting͏͏ sales͏͏ from͏͏ modern͏͏ trade͏͏ marketplaces͏͏ but͏͏ will͏͏ also͏͏ affect͏͏ kirana͏͏ store͏͏ revenues.”

Zepto͏͏ announced͏͏ that͏͏ its͏͏ sellers͏͏ have͏͏ increased͏͏ inventory͏͏ with͏͏ new͏͏ categories,͏͏ including͏͏ electrical͏͏ appliances,͏͏ beauty͏͏ products,͏͏ and͏͏ gifting͏͏ options͏͏ like͏͏ plants͏͏ for͏͏ the͏͏ festive͏͏ season,͏͏ in͏͏ addition͏͏ to͏͏ its͏͏ core͏͏ categories͏͏ of͏͏ kitchen͏͏ appliances,͏͏ personal͏͏ care,͏͏ and͏͏ gift͏͏ packs.͏͏ “We’re͏͏ collaborating͏͏ closely͏͏ with͏͏ brands͏͏ to͏͏ create͏͏ festival-specific͏͏ offers,”͏͏ a͏͏ Zepto͏͏ spokesperson͏͏ stated.

Grocery͏͏ and͏͏ beauty͏͏ and͏͏ personal͏͏ care͏͏ are͏͏ poised͏͏ to͏͏ drive͏͏ growth,͏͏ with͏͏ quick͏͏ commerce͏͏ projected͏͏ to͏͏ account͏͏ for͏͏ 51%͏͏ of͏͏ online͏͏ grocery͏͏ sales,͏͏ up͏͏ from͏͏ 37.6%͏͏ last͏͏ year,͏͏ according͏͏ to͏͏ the͏͏ report.

For͏͏ e-commerce͏͏ platforms,͏͏ sales͏͏ of͏͏ categories͏͏ such͏͏ as͏͏ smartphones͏͏ and͏͏ large͏͏ appliances͏͏ during͏͏ the͏͏ festive͏͏ season͏͏ can͏͏ account͏͏ for͏͏ up͏͏ to͏͏ a͏͏ third͏͏ of͏͏ their͏͏ annual͏͏ revenue.

Continue͏͏ Exploring:͏͏ Non-metro͏͏ cities͏͏ lead͏͏ e-commerce growth͏͏ in͏͏ India,͏͏ driving͏͏ 60%͏͏ of͏͏ orders:͏͏ Report

According͏͏ to͏͏ the͏͏ Datum͏͏ Intelligence͏͏ report,͏͏ mobile͏͏ and͏͏ fashion͏͏ categories͏͏ are͏͏ expected͏͏ to͏͏ dominate͏͏ festive͏͏ spending,͏͏ comprising͏͏ 50%͏͏ of͏͏ total͏͏ sales.

“The͏͏ premiumisation͏͏ trend͏͏ that͏͏ began͏͏ last͏͏ year͏͏ will͏͏ persist͏͏ this͏͏ year͏͏ as͏͏ well.͏͏ Last͏͏ year,͏͏ we͏͏ observed͏͏ premiumisation͏͏ particularly͏͏ in͏͏ the͏͏ smartphone͏͏ category,”͏͏ said͏͏ Meena.

Festive͏͏ Sales͏͏ Launch:͏͏ Major͏͏ Events͏͏ Kicking͏͏ Off:

E-commerce͏͏ giants͏͏ Amazon͏͏ India͏͏ and͏͏ Walmart-owned͏͏ Flipkart͏͏ are͏͏ set͏͏ to͏͏ launch͏͏ their͏͏ annual͏͏ festive͏͏ season͏͏ sale͏͏ on͏͏ September͏͏ 27,͏͏ lasting͏͏ for͏͏ approximately͏͏ a͏͏ month.͏͏ SoftBank-backed͏͏ e-commerce͏͏ firm͏͏ Meesho͏͏ will͏͏ also͏͏ start͏͏ its͏͏ Meesho͏͏ Mega͏͏ Blockbuster͏͏ Sale͏͏ on͏͏ the͏͏ same͏͏ day.͏͏ Meanwhile,͏͏ Flipkart-owned͏͏ fashion͏͏ platform͏͏ Myntra͏͏ will͏͏ kick͏͏ off͏͏ its͏͏ Big͏͏ Fashion͏͏ Festival͏͏ a͏͏ day͏͏ earlier.

“For͏͏ the͏͏ upcoming͏͏ festive͏͏ season,͏͏ Flipkart͏͏ customers͏͏ can͏͏ look͏͏ forward͏͏ to͏͏ improved͏͏ on-app͏͏ experiences,͏͏ including͏͏ video͏͏ commerce,͏͏ immersive͏͏ technologies͏͏ like͏͏ AR͏͏ and͏͏ 3D͏͏ try-ons,͏͏ and͏͏ a͏͏ broader͏͏ product͏͏ selection͏͏ across͏͏ various͏͏ categories,”͏͏ said͏͏ Harsh͏͏ Chaudhary,͏͏ head͏͏ of͏͏ growth͏͏ at͏͏ the͏͏ e-commerce͏͏ firm.

The͏͏ Datum͏͏ Intelligence͏͏ report͏͏ indicates͏͏ that͏͏ shoppers͏͏ in͏͏ small͏͏ cities͏͏ are͏͏ starting͏͏ their͏͏ purchases͏͏ earlier͏͏ to͏͏ guarantee͏͏ timely͏͏ delivery͏͏ of͏͏ their͏͏ products.͏͏ Typically,͏͏ during͏͏ the͏͏ festive͏͏ rush,͏͏ delivery͏͏ estimates͏͏ in͏͏ non-metro͏͏ markets͏͏ are͏͏ longer͏͏ than͏͏ usual.

In͏͏ preparation͏͏ for͏͏ this͏͏ year’s͏͏ festive͏͏ season,͏͏ Flipkart͏͏ has͏͏ opened͏͏ 11͏͏ fulfilment͏͏ centres͏͏ and͏͏ created͏͏ over͏͏ 100,000͏͏ new͏͏ temporary͏͏ jobs͏͏ across͏͏ more͏͏ than͏͏ 40͏͏ regions.͏͏ The͏͏ company͏͏ is͏͏ also͏͏ enhancing͏͏ same-day͏͏ and͏͏ next-day͏͏ delivery͏͏ services͏͏ within͏͏ its͏͏ expanding͏͏ network͏͏ of͏͏ cities.

Amazon͏͏ has͏͏ opened͏͏ three͏͏ new͏͏ fulfilment͏͏ centres͏͏ in͏͏ the͏͏ National͏͏ Capital͏͏ Region,͏͏ Guwahati,͏͏ and͏͏ Patna͏͏ to͏͏ improve͏͏ delivery͏͏ speeds,͏͏ support͏͏ over͏͏ 250,000͏͏ sellers,͏͏ and͏͏ create͏͏ job͏͏ opportunities.͏͏ Amazon͏͏ India͏͏ did͏͏ not͏͏ provide͏͏ a͏͏ comment.

“Quick͏͏ commerce͏͏ is͏͏ an͏͏ intriguing͏͏ space.͏͏ It͏͏ certainly͏͏ serves͏͏ a͏͏ purpose͏͏ for͏͏ specific͏͏ customer͏͏ segments,͏͏ and͏͏ there’s͏͏ no͏͏ denying͏͏ that.͏͏ However,͏͏ Amazon’s͏͏ model͏͏ focuses͏͏ on͏͏ delivering͏͏ to͏͏ 100%͏͏ of͏͏ serviceable͏͏ pin͏͏ codes͏͏ in͏͏ India,͏͏ particularly͏͏ as͏͏ we͏͏ approach͏͏ the͏͏ festive͏͏ season,͏͏ which͏͏ is͏͏ meant͏͏ for͏͏ everyone,͏͏ not͏͏ just͏͏ those͏͏ in͏͏ metro͏͏ cities͏͏ or͏͏ high-density͏͏ areas.͏͏ We͏͏ aim͏͏ to͏͏ ensure͏͏ that͏͏ customers͏͏ across͏͏ the͏͏ country͏͏ have͏͏ access͏͏ to͏͏ deals,͏͏ a͏͏ wide͏͏ selection͏͏ of͏͏ products,͏͏ and͏͏ fast͏͏ service͏͏ at͏͏ scale,”͏͏ said͏͏ Saurabh͏͏ Srivastava,͏͏ vice͏͏ president͏͏ of͏͏ categories͏͏ at͏͏ Amazon͏͏ India.

“Millennials͏͏ make͏͏ up͏͏ 60%͏͏ of͏͏ our͏͏ shopper͏͏ base͏͏ and͏͏ significantly͏͏ influence͏͏ shopping͏͏ trends͏͏ on͏͏ our͏͏ platform.͏͏ Their͏͏ preferred͏͏ categories͏͏ include͏͏ fashion,͏͏ home͏͏ and͏͏ kitchen,͏͏ beauty͏͏ and͏͏ personal͏͏ care,͏͏ electronic͏͏ accessories,͏͏ as͏͏ well͏͏ as͏͏ office͏͏ and͏͏ stationery͏͏ items.͏͏ Popular͏͏ searches͏͏ feature͏͏ smartwatches,͏͏ water͏͏ bottles,͏͏ ready-to-wear͏͏ sarees,͏͏ shoe͏͏ racks,͏͏ nail͏͏ polish,͏͏ and͏͏ lunch͏͏ bags,”͏͏ said͏͏ a͏͏ spokesperson͏͏ from͏͏ Meesho.

Chaitanya͏͏ Ramalingegowda,͏͏ co-founder͏͏ of͏͏ Wakefit,͏͏ which͏͏ sells͏͏ mattresses͏͏ and͏͏ furniture,͏͏ stated͏͏ that͏͏ consumer͏͏ demand͏͏ has͏͏ consistently͏͏ rebounded͏͏ over͏͏ the͏͏ past͏͏ 10͏͏ months,͏͏ leading͏͏ to͏͏ high͏͏ expectations͏͏ for͏͏ festive͏͏ sales.͏͏ He͏͏ anticipates͏͏ double-digit͏͏ growth,͏͏ with͏͏ key͏͏ days͏͏ experiencing͏͏ sales͏͏ up͏͏ to͏͏ 10͏͏ times͏͏ the͏͏ usual͏͏ levels.

Industry͏͏ experts͏͏ suggest͏͏ that͏͏ quick͏͏ commerce͏͏ is͏͏ well-suited͏͏ for͏͏ certain͏͏ categories͏͏ and͏͏ is͏͏ disrupting͏͏ some͏͏ areas͏͏ of͏͏ e-commerce.͏͏ However,͏͏ it͏͏ is͏͏ not͏͏ applicable͏͏ to͏͏ all͏͏ categories;͏͏ for͏͏ instance,͏͏ electronics͏͏ remain͏͏ a͏͏ significant͏͏ segment͏͏ in͏͏ e-commerce͏͏ that͏͏ quick͏͏ commerce͏͏ cannot͏͏ replicate,͏͏ along͏͏ with͏͏ larger͏͏ items͏͏ like͏͏ furniture.

“Due͏͏ to͏͏ the͏͏ bulky͏͏ nature͏͏ of͏͏ our͏͏ core͏͏ products,͏͏ such͏͏ as͏͏ mattresses͏͏ and͏͏ furniture,͏͏ quick͏͏ commerce͏͏ is͏͏ not͏͏ yet͏͏ optimised͏͏ for͏͏ these͏͏ items.͏͏ However,͏͏ smaller͏͏ products͏͏ like͏͏ pillows͏͏ and͏͏ accessories͏͏ are͏͏ well-suited͏͏ for͏͏ quick͏͏ commerce,͏͏ and͏͏ we͏͏ anticipate͏͏ a͏͏ significant͏͏ contribution͏͏ from͏͏ this͏͏ segment͏͏ during͏͏ the͏͏ festive͏͏ season,”͏͏ Ramalingegowda͏͏ added.

“We͏͏ are͏͏ witnessing͏͏ strong͏͏ traction͏͏ on͏͏ quick-commerce͏͏ platforms͏͏ and͏͏ are͏͏ actively͏͏ collaborating͏͏ with͏͏ all͏͏ the͏͏ major͏͏ players͏͏ in͏͏ this͏͏ space.͏͏ That͏͏ said,͏͏ e-commerce͏͏ remains͏͏ the͏͏ largest͏͏ channel͏͏ and͏͏ is͏͏ critical͏͏ for͏͏ driving͏͏ revenues,”͏͏ said͏͏ Gaurav͏͏ Nayyar,͏͏ chief͏͏ operating͏͏ officer͏͏ at͏͏ homegrown͏͏ wearable͏͏ and͏͏ audio͏͏ products͏͏ brand͏͏ Boat.͏͏ Quick͏͏ commerce͏͏ is͏͏ the͏͏ third͏͏ largest͏͏ sales͏͏ channel͏͏ for͏͏ the͏͏ startup.

Boat͏͏ anticipates͏͏ a͏͏ surge͏͏ in͏͏ demand͏͏ for͏͏ its͏͏ premium͏͏ products.

For͏͏ snacking͏͏ brand͏͏ Farmley,͏͏ quick͏͏ commerce͏͏ is͏͏ expected͏͏ to͏͏ make͏͏ a͏͏ significant͏͏ contribution͏͏ this͏͏ season.͏͏ “The͏͏ platforms͏͏ have͏͏ been͏͏ growing͏͏ rapidly,͏͏ and͏͏ we͏͏ aim͏͏ to͏͏ increase͏͏ our͏͏ category͏͏ share͏͏ alongside͏͏ that.͏͏ It’s͏͏ unlocking͏͏ market͏͏ access͏͏ for͏͏ us,”͏͏ said͏͏ co-founder͏͏ Abhishek͏͏ Agarwal.

“For͏͏ the͏͏ upcoming͏͏ festive͏͏ and͏͏ travel͏͏ season,͏͏ Scapia͏͏ is͏͏ forecasting͏͏ a͏͏ 50%͏͏ growth͏͏ in͏͏ international͏͏ travel.͏͏ This͏͏ surge͏͏ will͏͏ be͏͏ further͏͏ boosted͏͏ by͏͏ a͏͏ 5-6͏͏ fold͏͏ increase͏͏ in͏͏ credit͏͏ card͏͏ spending͏͏ on͏͏ online͏͏ festival͏͏ shopping,͏͏ allowing͏͏ customers͏͏ to͏͏ earn͏͏ rewards͏͏ redeemable͏͏ for͏͏ travel͏͏ bookings͏͏ on͏͏ the͏͏ app,”͏͏ said͏͏ Anil͏͏ Goteti,͏͏ founder͏͏ of͏͏ the͏͏ travel-focused͏͏ fintech͏͏ firm.

Continue͏͏ Exploring:͏͏ India͏͏ aims͏͏ for͏͏ $200͏͏ Bn͏͏ in͏͏ e-commerce exports͏͏ by͏͏ 2030:͏͏ Commerce͏͏ Secretary

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Zomato shares hit all-time High of INR 290.50 amid broader market rally

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SnackTeam
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Foodtech giant Zomato‘s shares surged͏͏ to͏͏ a͏͏ new͏͏ all-time͏͏ high͏͏ of͏͏ INR͏͏ 290.50͏͏ apiece͏͏ on͏͏ the͏͏ BSE͏͏ today͏͏ (September͏͏ 20),͏͏ propelled͏͏ by͏͏ a͏͏ broader͏͏ market͏͏ rally͏͏ that͏͏ saw͏͏ the͏͏ Sensex͏͏ and͏͏ Nifty50͏͏ also͏͏ reach͏͏ record͏͏ highs.

The͏͏ stock͏͏ climbed͏͏ over͏͏ 4%͏͏ in͏͏ early͏͏ trading͏͏ but͏͏ later͏͏ trimmed͏͏ some͏͏ gains,͏͏ trading͏͏ 3.01%͏͏ higher͏͏ at͏͏ INR͏͏ 287.25͏͏ apiece͏͏ on͏͏ the͏͏ BSE͏͏ at͏͏ 12:03͏͏ PM.

High͏͏ Trading͏͏ Volume͏͏ Reflects͏͏ Investor͏͏ Confidence:

Over͏͏ 4.82͏͏ crore͏͏ Zomato͏͏ shares͏͏ had͏͏ traded͏͏ on͏͏ the͏͏ BSE͏͏ and͏͏ NSE͏͏ by͏͏ the͏͏ time͏͏ of͏͏ publishing͏͏ this͏͏ story,͏͏ indicating͏͏ increasing͏͏ investor͏͏ confidence͏͏ in͏͏ the͏͏ stock.

Sensex͏͏ and͏͏ Nifty50͏͏ Hit͏͏ Historic͏͏ Peaks:

The͏͏ surge͏͏ in͏͏ Zomato’s͏͏ share͏͏ prices͏͏ coincided͏͏ with͏͏ the͏͏ 30-share͏͏ Sensex͏͏ crossing͏͏ the͏͏ 84,000͏͏ mark͏͏ for͏͏ the͏͏ first͏͏ time͏͏ in͏͏ history.͏͏ The͏͏ index͏͏ rose͏͏ nearly͏͏ 1.3%͏͏ to͏͏ reach͏͏ a͏͏ new͏͏ intraday͏͏ peak͏͏ of͏͏ 84,248.69.

The͏͏ NSE͏͏ Nifty͏͏ 50͏͏ also͏͏ rose͏͏ 1.2%,͏͏ reaching͏͏ a͏͏ new͏͏ all-time͏͏ intraday͏͏ high͏͏ of͏͏ 25,726.65.͏͏ This͏͏ record-breaking͏͏ performance͏͏ in͏͏ the͏͏ broader͏͏ market͏͏ followed͏͏ the͏͏ US͏͏ Federal͏͏ Reserve’s͏͏ decision͏͏ to͏͏ cut͏͏ interest͏͏ rates͏͏ by͏͏ half͏͏ a͏͏ percentage͏͏ point͏͏ for͏͏ the͏͏ first͏͏ time͏͏ in͏͏ four͏͏ years,͏͏ bringing͏͏ the͏͏ rates͏͏ down͏͏ to͏͏ approximately͏͏ 4.9%.

JP͏͏ Morgan͏͏ Increases͏͏ Zomato’s͏͏ Target͏͏ Price:

It’s͏͏ important͏͏ to͏͏ note͏͏ that͏͏ brokerage͏͏ firm͏͏ JP͏͏ Morgan͏͏ recently͏͏ reaffirmed͏͏ its͏͏ “overweight”͏͏ rating͏͏ on͏͏ Zomato,͏͏ increasing͏͏ its͏͏ target͏͏ price͏͏ to͏͏ INR͏͏ 340͏͏ per͏͏ share͏͏ from͏͏ INR͏͏ 208.͏͏ This͏͏ suggests͏͏ an͏͏ upside͏͏ potential͏͏ of͏͏ nearly͏͏ 22%͏͏ from͏͏ the͏͏ stock’s͏͏ closing͏͏ price͏͏ today.

Continue͏͏ Exploring:͏͏ Zomato shares surge͏͏ 7.7%͏͏ after͏͏ JP͏͏ Morgan͏͏ raises͏͏ target͏͏ price͏͏ to͏͏ INR͏͏ 340

Zomato͏͏ shares͏͏ have͏͏ surged͏͏ over͏͏ 124%͏͏ year͏͏ to͏͏ date,͏͏ driven͏͏ by͏͏ the͏͏ foodtech͏͏ giant’s͏͏ improving͏͏ profitability͏͏ and͏͏ the͏͏ introduction͏͏ of͏͏ several͏͏ attractive͏͏ features,͏͏ including͏͏ group͏͏ ordering͏͏ and͏͏ ticket͏͏ rescheduling.

Q1͏͏ FY25͏͏ Results͏͏ Show͏͏ Strong͏͏ Growth:

Zomato’s͏͏ profit͏͏ soared͏͏ to͏͏ INR͏͏ 253͏͏ crore͏͏ in͏͏ Q1͏͏ FY25,͏͏ a͏͏ significant͏͏ increase͏͏ from͏͏ INR͏͏ 2͏͏ crore͏͏ in͏͏ the͏͏ same͏͏ quarter͏͏ last͏͏ year.͏͏ Revenue͏͏ from͏͏ operations͏͏ also͏͏ rose͏͏ 74%,͏͏ reaching͏͏ INR͏͏ 4,206͏͏ crore͏͏ compared͏͏ to͏͏ INR͏͏ 2,416͏͏ crore͏͏ in͏͏ Q1͏͏ FY24.

Continue͏͏ Exploring:͏͏ Zomato’s͏͏ net͏͏ profit͏͏ jumps͏͏ multi-fold͏͏ to͏͏ INR͏͏ 253͏͏ Cr͏͏ in͏͏ Q1,͏͏ marks͏͏ fifth͏͏ consecutive͏͏ profitable͏͏ quarter

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Sereko partners with TATA 1mg for retail expansion, launches in 20 NCR stores

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SnackTeam
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Sereko, India’s leading Psychodermatology Skincare brand, is making͏ s͏ig͏ni͏fi͏can͏͏t ͏str͏͏͏id͏e͏s͏͏͏ in ͏it͏͏͏s͏͏ ͏mis͏sion ͏t͏o ͏͏e͏͏n͏ha͏nce ͏access t͏o͏ hol͏istic sk͏͏͏͏͏incare sol͏͏uti͏ons. Th͏e brand͏ ha͏s par͏t͏͏͏n͏e͏͏͏red ͏with͏ TATA 1mg for ͏a͏͏ strate͏gic retail ͏͏ex͏p͏a͏nsion, launchi͏n͏͏g͏ in͏ 20 s͏t͏͏ore͏s͏ ͏͏͏acr͏oss t͏he ͏N͏͏͏at͏io͏n͏al͏ ͏Capit͏͏al R͏͏egi͏͏o͏͏͏n ͏(NCR) t͏͏his Aug͏͏͏ust.͏ ͏͏͏Th͏i͏s i͏͏͏͏nit͏i͏ativ͏͏e ͏m͏a͏͏r͏͏k͏s a pivot͏al m͏ilestone fo͏r Se͏r͏eko͏, wh͏ich is͏ a͏͏l͏s͏o bro͏͏͏ade͏ni͏ng͏͏ its͏͏͏ rea͏ch ͏͏͏͏thr͏oug͏h Br͏͏o͏͏ad͏way,͏ ͏͏͏an e͏xp͏e͏r͏͏ie͏n͏t͏ia͏͏l͏͏͏ s͏͏tore con͏͏c͏e͏pt l͏e͏d by ͏Viv͏e͏͏͏k ͏Bh͏iy͏͏ani͏͏.

͏͏Aimi͏ng for͏͏͏ 1͏20 Pe͏r͏cent Mon͏t͏͏h-Ove͏͏͏͏r-M͏onth͏͏ ͏G͏r͏owt͏h͏:

The ͏pa͏r͏tne͏͏r͏s͏hi͏p ͏with͏ ͏TATA ͏1mg ͏is͏͏ ͏͏͏set ͏to͏ gr͏͏͏e͏a͏t͏ly enha͏͏nc͏e͏ Se͏͏reko͏͏’͏s marke͏͏t ͏presence,͏ ͏͏facilit͏͏a͏ti͏ng ea͏si͏e͏r͏͏͏͏ ac͏cess͏ to ͏͏its u͏͏n͏͏i͏qu͏e “mi͏n͏͏d-first”͏ ͏skincar͏e͏ p͏ro͏d͏ucts͏ ͏f͏or co͏ns͏͏um͏e͏rs.͏ By ͏ut͏͏i͏l͏͏i͏sing TA͏T͏A 1͏m͏g’s ͏ex͏te͏nsi͏ve͏͏ ͏͏retail n͏e͏tw͏͏o͏rk, S͏e͏reko ͏aims fo͏r͏ a͏n ͏͏amb͏͏͏itious ͏120 p͏er͏ce͏͏nt͏͏ month-͏͏͏o͏ver͏-m͏on͏t͏h ͏g͏rowt͏h͏͏ with͏ this new ͏v͏͏enture͏͏. T͏he ͏br͏a͏͏nd’͏s ͏͏c͏om͏͏mitm͏͏e͏nt to ͏e͏xp͏͏a͏ndi͏ng i͏ts re͏͏͏t͏͏ail͏ ͏fo͏otpri͏n͏t under͏s͏cores its ͏confid͏͏ence ͏i͏n͏ ͏͏p͏rodu͏͏ct͏͏ ͏q͏u͏ali͏ty an͏͏͏d the in͏͏c͏r͏͏e͏as͏in͏͏g͏͏ ͏͏c͏͏on͏͏sum͏͏er͏ dem͏an͏͏d͏ for͏͏ ͏pre͏m͏ium ͏hol͏isti͏c ͏s͏kinc͏ar͏e.

͏B͏y ͏e͏x͏p͏and͏͏i͏n͏͏g ͏͏͏i͏n͏͏to͏͏ 20͏ TA͏T͏͏͏A ͏͏1mg͏ ͏͏sto͏͏res͏,͏ S͏e͏͏r͏ek͏o will dire͏ctl͏y en͏ga͏ge ͏wi͏th͏ a͏ w͏͏ide͏r ͏a͏ud͏i͏en͏ce, b͏oo͏sting ͏t͏he͏ visi͏bilit͏y a͏͏n͏͏d ͏͏͏access͏ibi͏lity ͏͏of ͏i͏t͏͏s͏ ͏sk͏inca͏re r͏ange͏.͏͏͏ ͏T͏h͏is ͏ini͏͏ti͏a͏tive͏͏ ͏a͏͏l͏͏͏ign͏s͏ wit͏h the comp͏a͏͏ny͏͏’s ͏dedicatio͏͏n͏ t͏o meeti͏ng͏͏ t͏he e͏v͏o͏l͏vin͏g͏͏ ͏n͏eed͏s ͏of͏ it͏s cus͏tom͏͏e͏͏͏r͏s͏ a͏͏nd͏ ͏e͏͏͏nsur͏in͏g i͏ts p͏rodu͏cts͏ a͏re͏ ͏a͏v͏͏͏ai͏l͏a͏b͏le ͏at k͏e͏͏͏y ͏loc͏at͏i͏o͏ns ͏t͏͏h͏r͏o͏u͏͏͏ghout͏͏ ͏͏th͏e N͏CR.

C͏o͏nt͏inue Ex͏͏͏pl͏o͏r͏i͏ng: ͏Skincare ͏b͏r͏a͏nd ͏XYST p͏art͏͏ner͏͏s wit͏͏h Ama͏͏z͏͏͏o͏n͏,͏ ͏Ny͏ka͏a͏,͏ a͏͏nd͏ ͏Fl͏͏i͏p͏kart ͏to ex͏pa͏nd͏ ma͏rk͏et re͏ach͏

Malvika Jain,͏ F͏ounde͏r͏͏ of͏͏͏ ͏͏S͏e͏͏͏r͏eko, st͏ate͏d͏͏,͏ ͏͏“͏A͏t ͏Se͏re͏k͏o͏,͏ our ͏m͏iss͏͏io͏n͏ ͏has a͏lways ͏been͏ ͏to͏ ͏p͏r͏ovi͏͏de high-qua͏li͏t͏y͏, ho͏l͏͏is͏t͏ic͏ sk͏͏inca͏͏͏r͏e ͏sol͏u͏͏tio͏n͏s. Th͏i͏s͏ ͏re͏͏͏tail͏ ex͏p͏ans͏io͏n͏ re͏pre͏sents͏ ͏a͏͏ ͏͏sig͏ni͏͏͏f͏ic͏͏a͏n͏t͏͏ ͏m͏iles͏to͏ne in͏͏ o͏ur j͏our͏n͏ey͏.͏ By͏͏ p͏ar͏tn͏͏erin͏g ͏wit͏͏͏h T͏A͏TA͏ ͏͏1mg an͏͏d ͏Broa͏d͏wa͏͏y, we a͏͏re͏ g͏͏re͏atl͏y ͏enh͏an͏cing ͏t͏he a͏cc͏e͏s͏si͏bi͏l͏i͏t͏y of ͏o͏ur͏ inn͏͏ovat͏ive skin͏care͏ produ͏cts. W͏e b͏e͏͏li͏eve ͏thi͏s͏͏ ͏will ͏͏n͏͏ot͏ ͏only drive ͏gr͏owth bu͏t ͏a͏lso s͏t͏͏reng͏͏then o͏͏ur͏͏ b͏rand’s͏ ma͏rket͏͏ p͏r͏ese͏nce͏͏,͏ ͏a͏llowin͏g us͏͏ t͏o re͏ac͏h more p͏e͏͏op͏l͏͏e ͏a͏n͏d cr͏ea͏te a͏ greater imp͏a͏c͏t. ͏͏Ad͏ditio͏͏nally, enabli͏ng͏͏ co͏nsumers͏ ͏͏to͏ p͏hys͏ic͏͏ally͏ ͏exp͏er͏͏͏i͏͏͏en͏c͏e o͏ur p͏rod͏uc͏t͏s͏͏͏ ͏͏wi͏͏ll e͏nri͏ch their͏͏ overal͏͏l͏ ͏journey͏, ͏sho͏w͏ca͏si͏ng͏ ͏the͏ qu͏alit͏y ͏a͏nd ef͏͏͏fe͏c͏t͏͏ive͏n͏ess we ͏stand͏ fo͏͏r.”

B͏al͏an͏ced͏ D͏istr͏͏i͏but͏i͏o͏n Str͏a͏͏t͏͏͏eg͏y ͏fo͏r ͏FY 2͏024-͏2͏0͏25:

͏͏As S͏ere͏ko lo͏͏͏o͏k͏s ahead ͏͏to͏ ͏t͏͏he fiscal͏ ͏͏ye͏ar 202͏4͏-2͏͏0͏25,͏ i͏t i͏͏s ͏a͏d͏o͏p͏͏t͏i͏ng͏ ͏a balanc͏e͏d͏͏ distr͏͏ibuti͏͏͏on str͏a͏t͏e͏͏g͏y, ͏p͏ro͏jecti͏ng 70 per͏͏ce͏n͏t ͏o͏f ͏i͏͏t͏s ͏͏s͏al͏e͏͏s t͏o͏ ͏͏s͏te͏m ͏fr͏͏͏om͏ onli͏n͏e ͏c͏ha͏n͏n͏e͏͏ls an͏d ͏3͏0͏͏ pe͏rcent ͏͏from͏ retail. ͏T͏his app͏ro͏a͏ch ͏͏h͏i͏g͏͏hli͏ghts ͏͏the ͏br͏and͏’s commit͏m͏e͏͏nt͏ ͏to ac͏co͏͏͏͏m͏m͏od͏a͏ti͏n͏g͏ ͏divers͏e͏ ͏s͏ho͏͏p͏p͏͏ing p͏r͏͏e͏fe͏͏͏r͏e͏nc͏e͏s͏, allo͏͏w͏ing c͏͏͏ust͏o͏me͏͏r͏s ͏to e͏͏͏nj͏oy͏͏ bo͏t͏͏h onli͏n͏e a͏͏n͏͏d͏ i͏n͏-sto͏r͏͏e͏͏ experie͏n͏͏c͏e͏͏s.͏

Th͏͏e ͏re͏t͏a͏͏il͏ e͏͏x͏p͏a͏͏ns͏io͏͏n͏ will comp͏leme͏͏nt S͏͏e͏rek͏o’͏s r͏o͏͏b͏͏ust͏͏ o͏nline pres͏ence͏ and o͏ffer͏ a͏͏ ͏s͏eam͏less͏ s͏h͏͏o͏ppin͏g͏ ͏ex͏p͏͏e͏rience ac͏͏͏͏r͏͏͏͏͏oss͏ ͏var͏i͏o͏us͏ ͏͏p͏͏la͏t͏͏͏͏f͏͏orms͏. ͏This ͏ho͏͏l͏is͏ti͏c ap͏͏͏proach͏͏ ͏i͏s a͏nt͏i͏c͏i͏͏͏͏p͏a͏te͏d ͏t͏o ͏͏dri͏ve͏ gr͏͏owth,͏ boos͏t ͏t͏͏he ͏br͏͏an͏d͏’s visib͏͏i͏l͏͏i͏͏ty,͏͏͏ ͏a͏n͏d ͏͏͏en͏h͏͏a͏n͏ce custo͏m͏er͏ l͏o͏yalty͏ as ͏Se͏re͏ko͏ a͏͏d͏͏v͏a͏͏͏͏nces ͏i͏ts m͏i͏ss͏͏͏i͏͏on͏ t͏͏o ͏͏͏tr͏an͏s͏f͏orm͏͏ ͏͏skincare w͏͏͏ith͏͏ i͏t͏s͏͏͏ psychod͏͏͏e͏rma͏to͏l͏o͏g͏y͏͏-͏d͏͏͏riv͏e͏͏n͏ ͏s͏olu͏tio͏n͏s͏.

C͏͏o͏n͏t͏i͏nue E͏͏xplori͏͏͏ng: Sereko ͏re͏de͏fi͏͏͏ne͏s͏͏ skincare wi͏t͏h͏ ͏gr͏͏ou͏nd͏b͏r͏e͏͏aking ͏2͏4͏͏-H͏͏our Hy͏d͏ra͏ti͏on͏͏ ͏͏Su͏n͏s͏cree͏n͏ ͏inf͏͏used wi͏t͏h mi͏n͏d-͏c͏al͏min͏g e͏͏l͏emen͏t͏͏s

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Siolim Coffee launches 2024 microlot collection, showcasing premium Indian specialty coffee

By
SnackTeam
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Siolim Coffee͏ has͏͏ launched͏͏ its͏͏ highly͏͏ awaited͏͏ 2024͏͏ microlot collection,͏͏ featuring͏͏ a͏͏ curated͏͏ selection͏͏ of͏͏ premium͏͏ coffees from͏͏ the͏͏ renowned͏͏ Ratnagiri͏͏ and͏͏ Raxidi͏͏ Lobo͏͏ Estates.͏͏ This͏͏ collection͏͏ reflects͏͏ Siolim’s͏͏ dedication͏͏ to͏͏ quality͏͏ and͏͏ innovation͏͏ in͏͏ the͏͏ specialty͏͏ coffee͏͏ industry,͏͏ offering͏͏ consumers͏͏ a͏͏ chance͏͏ to͏͏ experience͏͏ the͏͏ finest͏͏ of͏͏ Indian͏͏ coffee͏͏ craftsmanship.

Spotlight͏͏ on͏͏ Ratnagiri͏͏ Yeast͏͏ Washed:

The͏͏ standout͏͏ of͏͏ this͏͏ collection͏͏ is͏͏ the͏͏ Ratnagiri͏͏ Yeast͏͏ Washed͏͏ (RDNW),͏͏ showcasing͏͏ Siolim’s͏͏ commitment͏͏ to͏͏ cutting-edge͏͏ processing͏͏ methods.͏͏ Crafted͏͏ through͏͏ a͏͏ meticulous͏͏ yeast͏͏ carbonic͏͏ maceration͏͏ process,͏͏ the͏͏ RDNW͏͏ offers͏͏ a͏͏ cup͏͏ with͏͏ lively͏͏ acidity,͏͏ subtle͏͏ sweetness,͏͏ and͏͏ a͏͏ well-balanced͏͏ body.͏͏ Featuring͏͏ citrus,͏͏ cardamom,͏͏ and͏͏ floral͏͏ notes,͏͏ this͏͏ coffee͏͏ presents͏͏ a͏͏ vibrant͏͏ and͏͏ complex͏͏ flavour͏͏ profile͏͏ sure͏͏ to͏͏ delight͏͏ even͏͏ the͏͏ most͏͏ discerning͏͏ coffee͏͏ enthusiasts.

Continue͏͏ Exploring:͏͏ Costa͏͏ Coffee unveils͏͏ Autumn͏͏ Maple͏͏ Hazel͏͏ menu͏͏ in͏͏ India

Diverse͏͏ Flavours͏͏ from͏͏ Unique͏͏ Microlots:

Alongside͏͏ the͏͏ Ratnagiri͏͏ Yeast͏͏ Washed,͏͏ the͏͏ collection͏͏ features͏͏ several͏͏ other͏͏ unique͏͏ microlots,͏͏ each͏͏ offering͏͏ distinct͏͏ flavour͏͏ profiles͏͏ through͏͏ a͏͏ variety͏͏ of͏͏ processing͏͏ techniques.͏͏ From͏͏ intricate͏͏ cocoa͏͏ and͏͏ raisin͏͏ notes͏͏ to͏͏ vibrant,͏͏ fruity͏͏ finishes,͏͏ these͏͏ coffees͏͏ highlight͏͏ the͏͏ diversity͏͏ and͏͏ richness͏͏ of͏͏ India’s͏͏ specialty͏͏ coffee͏͏ scene.

“We͏͏ are͏͏ thrilled͏͏ to͏͏ bring͏͏ these͏͏ exceptional͏͏ microlots͏͏ to͏͏ our͏͏ customers.͏͏ They͏͏ reflect͏͏ the͏͏ dedication͏͏ of͏͏ our͏͏ partner͏͏ estates͏͏ and͏͏ our͏͏ unwavering͏͏ focus͏͏ on͏͏ quality.͏͏ The͏͏ Ratnagiri͏͏ Yeast͏͏ Washed,͏͏ in͏͏ particular,͏͏ showcases͏͏ our͏͏ commitment͏͏ to͏͏ innovation,͏͏ and͏͏ we͏͏ believe͏͏ it͏͏ will͏͏ raise͏͏ the͏͏ bar͏͏ in͏͏ the͏͏ specialty͏͏ coffee͏͏ market,”͏͏ said͏͏ Gaurav͏͏ Sethi,͏͏ CEO͏͏ of͏͏ Siolim͏͏ Specialty͏͏ Coffee͏͏ Roasters.

Siolim Coffee Collection͏͏ Available͏͏ Now͏͏ at͏͏ Select͏͏ Retailers:

The͏͏ 2024͏͏ microlot͏͏ collection͏͏ is͏͏ now͏͏ available͏͏ for͏͏ purchase͏͏ through͏͏ select͏͏ specialty͏͏ coffee͏͏ retailers͏͏ and͏͏ the͏͏ Siolim͏͏ Coffee͏͏ website.͏͏ Coffee͏͏ enthusiasts͏͏ and͏͏ professionals͏͏ are͏͏ invited͏͏ to͏͏ explore͏͏ the͏͏ collection͏͏ and͏͏ experience͏͏ the͏͏ distinctive͏͏ flavours͏͏ of͏͏ Indian͏͏ specialty͏͏ coffee.

In͏͏ addition͏͏ to͏͏ the͏͏ coffee͏͏ launch,͏͏ Siolim͏͏ Coffee͏͏ has͏͏ unveiled͏͏ an͏͏ exclusive͏͏ merchandise͏͏ line͏͏ featuring͏͏ stylish͏͏ t-shirts͏͏ for͏͏ coffee͏͏ enthusiasts.͏͏ These͏͏ high-quality͏͏ designs͏͏ reflect͏͏ Siolim’s͏͏ passion͏͏ for͏͏ coffee͏͏ and͏͏ craftsmanship,͏͏ offering͏͏ fans͏͏ a͏͏ way͏͏ to͏͏ showcase͏͏ their͏͏ love͏͏ for͏͏ the͏͏ brand͏͏ in͏͏ everyday͏͏ life.͏͏ The͏͏ t-shirts͏͏ are͏͏ available͏͏ for͏͏ purchase͏͏ alongside͏͏ the͏͏ new͏͏ coffee͏͏ collection͏͏ on͏͏ the͏͏ Siolim͏͏ Coffee͏͏ website.

With͏͏ its͏͏ latest͏͏ collection͏͏ and͏͏ merchandise,͏͏ Siolim͏͏ Coffee͏͏ continues͏͏ to͏͏ raise͏͏ the͏͏ bar͏͏ in͏͏ the͏͏ specialty͏͏ coffee͏͏ market,͏͏ providing͏͏ consumers͏͏ with͏͏ a͏͏ taste͏͏ of͏͏ India’s͏͏ finest͏͏ coffees͏͏ and͏͏ a͏͏ stylish͏͏ way͏͏ to͏͏ embrace͏͏ the͏͏ brand’s͏͏ ethos.

Continue͏͏ Exploring:͏͏ Blue͏͏ Tokai͏͏ secures͏͏ $35M͏͏ in͏͏ Series͏͏ C͏͏ funding,͏͏ becomes͏͏ most͏͏ valued͏͏ Indian͏͏ specialty coffee͏ brand

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Everstone Capital sells 2.16% stake in Restaurant Brands Asia for INR 113 Cr; Mirae Asset Mutual Fund acquires stake

By
SnackTeam
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Everstone Capital, a promoter entity, sold a 2.16 percent stake in Restaurant Brands Asia for INR 113 crore on͏͏ Wednesday͏͏ through͏͏ an͏͏ open͏͏ market͏͏ transaction.͏͏ Meanwhile,͏͏ Mirae͏͏ Asset͏͏ Mutual͏͏ Fund͏͏ acquired͏͏ a͏͏ stake͏͏ in͏͏ the͏͏ company.͏͏ Formerly͏͏ known͏͏ as͏͏ Burger͏͏ King͏͏ India͏͏ Ltd,͏͏ Restaurant͏͏ Brands͏͏ Asia͏͏ is͏͏ part͏͏ of͏͏ US-based͏͏ Restaurant͏͏ Brands͏͏ International͏͏ Inc.,͏͏ which͏͏ owns͏͏ four͏͏ iconic͏͏ QSR͏͏ brands—Tim͏͏ Hortons,͏͏ Burger͏͏ King,͏͏ Popeyes,͏͏ and͏͏ Firehouse͏͏ Subs.

Block͏͏ deal͏͏ data͏͏ from͏͏ the͏͏ NSE͏͏ shows͏͏ that͏͏ Singapore-based͏͏ private͏͏ equity͏͏ firm͏͏ Everstone͏͏ Capital,͏͏ through͏͏ its͏͏ investment͏͏ vehicle͏͏ QSR͏͏ Asia͏͏ Pte,͏͏ sold͏͏ over͏͏ 1.07͏͏ crore͏͏ shares,͏͏ representing͏͏ a͏͏ 2.16͏͏ percent͏͏ stake͏͏ in͏͏ Restaurant͏͏ Brands͏͏ Asia͏͏ (RBA).

The͏͏ shares͏͏ were͏͏ sold͏͏ at͏͏ an͏͏ average͏͏ price͏͏ of͏͏ INR͏͏ 105͏͏ each,͏͏ bringing͏͏ the͏͏ total͏͏ transaction͏͏ value͏͏ to͏͏ INR͏͏ 112.83͏͏ crore.

Everstone’s͏͏ Holding͏͏ Falls͏͏ to͏͏ 13.17%:

Following͏͏ the͏͏ stake͏͏ sale,͏͏ Everstone͏͏ Capital’s͏͏ holding͏͏ in͏͏ RBA͏͏ decreased͏͏ from͏͏ 15.33͏͏ percent͏͏ to͏͏ 13.17͏͏ percent.

Continue͏͏ Exploring:͏͏ Everstone Capital cashes͏͏ in͏͏ on͏͏ surging͏͏ market,͏͏ sells͏͏ 25%͏͏ stake͏͏ in͏͏ Restaurant Brands Asia

Mirae͏͏ Asset͏͏ Buys͏͏ Into͏͏ RBA:

Mirae͏͏ Asset͏͏ Mutual͏͏ Fund͏͏ purchased͏͏ these͏͏ shares͏͏ at͏͏ the͏͏ same͏͏ price,͏͏ according͏͏ to͏͏ data͏͏ from͏͏ the͏͏ National͏͏ Stock͏͏ Exchange͏͏ (NSE).

Restaurant͏͏ Brands͏͏ Asia͏͏ shares͏͏ increased͏͏ by͏͏ 2.83͏͏ percent,͏͏ closing͏͏ at͏͏ INR͏͏ 107͏͏ each͏͏ on͏͏ the͏͏ NSE.

Everstone͏͏ Capital,͏͏ part͏͏ of͏͏ the͏͏ Everstone͏͏ Group,͏͏ is͏͏ one͏͏ of͏͏ Asia’s͏͏ leading͏͏ investment͏͏ firms,͏͏ managing͏͏ assets͏͏ worth͏͏ USD͏͏ 7͏͏ billion͏͏ across͏͏ private͏͏ equity͏͏ and͏͏ venture͏͏ capital.

Restaurant͏͏ Brands͏͏ International͏͏ is͏͏ one͏͏ of͏͏ the͏͏ largest͏͏ quick͏͏ service͏͏ restaurant͏͏ (QSR)͏͏ companies͏͏ globally,͏͏ generating͏͏ over͏͏ USD͏͏ 40͏͏ billion͏͏ in͏͏ annual͏͏ sales͏͏ with͏͏ more͏͏ than͏͏ 30,000͏͏ restaurants͏͏ across͏͏ 120+͏͏ countries͏͏ and͏͏ territories.

Continue͏͏ Exploring:͏͏ Burger͏͏ King’s͏͏ India͏͏ operator͏͏ Restaurant Brands Asia narrows͏͏ Q1͏͏ loss͏͏ to͏͏ INR͏͏ 49͏͏ Cr

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Cola price war intensifies as Reliance expands Campa soft drinks at disruptive prices

By
SnackTeam
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A cola price war is heating up as Reliance Consumer Products (RCPL) expands its Campa soft drink range—priced at half the cost of Coca-Cola and͏͏ PepsiCo—into͏͏ several͏͏ new͏͏ markets͏͏ in͏͏ time͏͏ for͏͏ the͏͏ festive͏͏ season.

Multinational͏͏ Brands͏͏ Ramp͏͏ Up͏͏ Promotions:

This͏͏ has͏͏ led͏͏ Coca-Cola͏͏ and͏͏ PepsiCo͏͏ to͏͏ ramp͏͏ up͏͏ consumer͏͏ promotions͏͏ across͏͏ grocery͏͏ stores͏͏ and͏͏ quick-commerce͏͏ platforms,͏͏ even͏͏ as͏͏ they͏͏ continue͏͏ to͏͏ avoid͏͏ lowering͏͏ their͏͏ prices.

Continue͏͏ Exploring:͏͏ Coca-Cola to͏͏ target͏͏ regional͏͏ growth͏͏ in͏͏ India͏͏ with͏͏ new͏͏ cluster͏͏ strategy

“The͏͏ multinational͏͏ brands͏͏ haven’t͏͏ reduced͏͏ prices͏͏ yet͏͏ but͏͏ are͏͏ increasing͏͏ tactical͏͏ promotions͏͏ at͏͏ local͏͏ retailers,͏͏ along͏͏ with͏͏ cross-promotions͏͏ and͏͏ bundling͏͏ on͏͏ quick-commerce͏͏ platforms,”͏͏ said͏͏ a͏͏ beverage͏͏ industry͏͏ executive.

However,͏͏ they͏͏ risk͏͏ losing͏͏ market͏͏ share.

“There͏͏ are͏͏ discussions͏͏ about͏͏ either͏͏ reducing͏͏ prices,͏͏ which͏͏ could͏͏ impact͏͏ profitability,͏͏ or͏͏ risking͏͏ market͏͏ share͏͏ to͏͏ a͏͏ lower-priced͏͏ competitor,”͏͏ said͏͏ a͏͏ second͏͏ executive.͏͏ “Any͏͏ pricing͏͏ decisions͏͏ will͏͏ also͏͏ need͏͏ to͏͏ be͏͏ agreed͏͏ upon͏͏ with͏͏ independent͏͏ bottling͏͏ partners,”͏͏ they͏͏ added.

In͏͏ 2022,͏͏ the͏͏ FMCG͏͏ arm͏͏ of͏͏ Reliance͏͏ Retail͏͏ entered͏͏ the͏͏ Indian͏͏ soft͏͏ drinks͏͏ market,͏͏ traditionally͏͏ dominated͏͏ by͏͏ Coca-Cola͏͏ and͏͏ PepsiCo,͏͏ by͏͏ launching͏͏ the͏͏ Campa͏͏ range͏͏ in͏͏ various͏͏ pack͏͏ sizes͏͏ and͏͏ flavours͏͏ at͏͏ significantly͏͏ lower͏͏ price͏͏ points͏͏ than͏͏ established͏͏ competitors͏͏ in͏͏ select͏͏ markets.

Following͏͏ a͏͏ slow͏͏ start,͏͏ RCPL͏͏ is͏͏ now͏͏ expanding͏͏ the͏͏ Campa͏͏ brand͏͏ across͏͏ multiple͏͏ markets,͏͏ including͏͏ the͏͏ southern͏͏ states,͏͏ West͏͏ Bengal,͏͏ Bihar,͏͏ Odisha,͏͏ and͏͏ parts͏͏ of͏͏ Uttar͏͏ Pradesh,͏͏ at͏͏ disruptive͏͏ prices,͏͏ according͏͏ to͏͏ executives͏͏ familiar͏͏ with͏͏ the͏͏ developments.

RCPL’s͏͏ Consumer-Centric͏͏ FMCG͏͏ Strategy

“RCPL’s͏͏ FMCG͏͏ strategy͏͏ focuses͏͏ on͏͏ offering͏͏ affordable͏͏ pricing͏͏ across͏͏ categories͏͏ like͏͏ beverages,͏͏ biscuits,͏͏ confectionery,͏͏ and͏͏ detergents,͏͏ with͏͏ prices͏͏ 30-35%͏͏ lower͏͏ than͏͏ competitors,”͏͏ said͏͏ another͏͏ industry͏͏ executive.͏͏ “This͏͏ aligns͏͏ with͏͏ their͏͏ internal͏͏ policy͏͏ of͏͏ being͏͏ ‘consumer-centric’͏͏ rather͏͏ than͏͏ ‘competition-centric’.”

For͏͏ instance,͏͏ Campa͏͏ offers͏͏ 250͏͏ ml͏͏ bottles͏͏ at͏͏ INR͏͏ 10,͏͏ compared͏͏ to͏͏ INR͏͏ 20͏͏ for͏͏ a͏͏ 250͏͏ ml͏͏ bottle͏͏ from͏͏ Coca-Cola͏͏ or͏͏ PepsiCo.͏͏ Additionally,͏͏ Campa͏͏ sells͏͏ 500͏͏ ml͏͏ bottles͏͏ at͏͏ INR͏͏ 20,͏͏ while͏͏ its͏͏ larger͏͏ competitors͏͏ price͏͏ their͏͏ 500͏͏ ml͏͏ bottles͏͏ at͏͏ INR͏͏ 30͏͏ or͏͏ INR͏͏ 40.

Continue͏͏ Exploring:͏͏ Reliance Industries’͏͏ FMCG͏͏ arm͏͏ rakes͏͏ in͏͏ INR͏͏ 3,000͏͏ Crore͏͏ in͏͏ FY24;͏͏ Campa Cola a͏͏ key͏͏ contributor

Emails͏͏ sent͏͏ to͏͏ the͏͏ offices͏͏ of͏͏ RCPL͏͏ and͏͏ Coca-Cola͏͏ went͏͏ unanswered,͏͏ while͏͏ PepsiCo͏͏ stated͏͏ it͏͏ was͏͏ unable͏͏ to͏͏ comment.

In͏͏ response͏͏ to͏͏ an͏͏ analyst’s͏͏ question͏͏ about͏͏ the͏͏ potential͏͏ impact͏͏ of͏͏ Campa,͏͏ RJ͏͏ Corp͏͏ chairman͏͏ Ravi͏͏ Jaipuria—whose͏͏ group͏͏ company͏͏ Varun͏͏ Beverages͏͏ bottles͏͏ and͏͏ sells͏͏ PepsiCo’s͏͏ products—recently͏͏ stated͏͏ that͏͏ the͏͏ market͏͏ is͏͏ growing͏͏ at͏͏ a͏͏ rate͏͏ that͏͏ allows͏͏ ample͏͏ room͏͏ for͏͏ new͏͏ players͏͏ to͏͏ enter.

“We͏͏ believe͏͏ every͏͏ new͏͏ entrant͏͏ has͏͏ the͏͏ potential͏͏ to͏͏ grow͏͏ the͏͏ market.͏͏ Reliance͏͏ is͏͏ a͏͏ strong͏͏ competitor,͏͏ but͏͏ they͏͏ will͏͏ need͏͏ to͏͏ invest͏͏ more͏͏ in͏͏ facilities,͏͏ plants,͏͏ and͏͏ visi-coolers.͏͏ Given͏͏ their͏͏ resources,͏͏ we’re͏͏ confident͏͏ they͏͏ will͏͏ succeed.͏͏ The͏͏ Indian͏͏ market͏͏ is͏͏ vast,͏͏ and͏͏ with͏͏ additional͏͏ investments,͏͏ growth͏͏ will͏͏ accelerate͏͏ even͏͏ further,”͏͏ Jaipuria͏͏ stated͏͏ during͏͏ an͏͏ earnings͏͏ call.

Although͏͏ the͏͏ peak͏͏ summer͏͏ quarter͏͏ from͏͏ April͏͏ to͏͏ June͏͏ is͏͏ the͏͏ largest͏͏ for͏͏ annual͏͏ soft͏͏ drink͏͏ sales,͏͏ companies͏͏ are͏͏ working͏͏ to͏͏ de-seasonalise͏͏ their͏͏ products͏͏ through͏͏ new͏͏ promotions͏͏ and͏͏ campaigns,͏͏ particularly͏͏ during͏͏ the͏͏ festive͏͏ months͏͏ of͏͏ October͏͏ to͏͏ December.

Bottled͏͏ Soft͏͏ Drink͏͏ Penetration͏͏ Surges:

According͏͏ to͏͏ a͏͏ report͏͏ released͏͏ by͏͏ global͏͏ research͏͏ firm͏͏ Kantar͏͏ in͏͏ June,͏͏ the͏͏ consumption͏͏ of͏͏ bottled͏͏ soft͏͏ drinks͏͏ exceeded͏͏ 50%͏͏ penetration͏͏ among͏͏ Indian͏͏ households͏͏ in͏͏ 2023-24.͏͏ “The͏͏ bottled͏͏ soft͏͏ drink͏͏ category͏͏ grew͏͏ by͏͏ 41%͏͏ on͏͏ a͏͏ moving͏͏ annual͏͏ total͏͏ (MAT)͏͏ basis͏͏ in͏͏ March͏͏ ’23͏͏ and͏͏ continued͏͏ to͏͏ attract͏͏ more͏͏ households,͏͏ expanding͏͏ by͏͏ 19%͏͏ in͏͏ MAT͏͏ by͏͏ March͏͏ ’24,”͏͏ the͏͏ report͏͏ stated.

In͏͏ its͏͏ most͏͏ recent͏͏ financial͏͏ report,͏͏ Coca-Cola͏͏ India͏͏ posted͏͏ a͏͏ consolidated͏͏ profit͏͏ of͏͏ INR͏͏ 722.44͏͏ crore͏͏ for͏͏ FY23,͏͏ marking͏͏ a͏͏ 57.2%͏͏ increase͏͏ compared͏͏ to͏͏ the͏͏ previous͏͏ year,͏͏ according͏͏ to͏͏ financial͏͏ data͏͏ obtained͏͏ from͏͏ the͏͏ business͏͏ intelligence͏͏ platform͏͏ Tofler.

Varun͏͏ Beverages͏͏ reported͏͏ a͏͏ consolidated͏͏ net͏͏ profit͏͏ of͏͏ INR͏͏ 1,262͏͏ crore͏͏ for͏͏ the͏͏ June͏͏ ’24͏͏ quarter,͏͏ reflecting͏͏ a͏͏ 26%͏͏ increase͏͏ compared͏͏ to͏͏ the͏͏ same͏͏ period͏͏ last͏͏ year.͏͏ The͏͏ company͏͏ attributed͏͏ this͏͏ growth͏͏ to͏͏ volume͏͏ increases͏͏ and͏͏ improved͏͏ margins.

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Nao Spirits to launch ‘Greater Than Gin’ in Himachal Pradesh and Punjab by next month

By
SnackTeam
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Nao Spirits & Beverages, makers of ‘Greater Than Gin’, has announced plans to expand into Himachal Pradesh and Punjab by the end of next month. Co-founder and CEO Anand Virmani stated͏͏ that͏͏ the͏͏ company͏͏ aims͏͏ to͏͏ sell͏͏ 120,000͏͏ cases͏͏ of͏͏ gin͏͏ this͏͏ financial͏͏ year,͏͏ up͏͏ from͏͏ 97,000͏͏ in͏͏ the͏͏ previous͏͏ one.

Significant͏͏ Market͏͏ Growth͏͏ Over͏͏ Six͏͏ Years:

“When͏͏ we͏͏ started͏͏ in͏͏ 2017,͏͏ only͏͏ about͏͏ 12,000͏͏ cases͏͏ of͏͏ premium͏͏ gin͏͏ were͏͏ sold,͏͏ including͏͏ imported͏͏ brands.͏͏ By͏͏ 2022,͏͏ this͏͏ number͏͏ had͏͏ risen͏͏ to͏͏ over͏͏ 300,000͏͏ cases,͏͏ and͏͏ reached͏͏ 420,000͏͏ in͏͏ 2023,͏͏ with͏͏ each͏͏ case͏͏ containing͏͏ 12͏͏ bottles.͏͏ These͏͏ figures͏͏ represent͏͏ gins͏͏ in͏͏ the͏͏ premium͏͏ category,͏͏ priced͏͏ at͏͏ INR͏͏ 1,000͏͏ and͏͏ above,”͏͏ said͏͏ Virmani,͏͏ adding͏͏ that͏͏ the͏͏ company͏͏ currently͏͏ holds͏͏ a͏͏ 25%͏͏ market͏͏ share͏͏ in͏͏ the͏͏ Indian͏͏ and͏͏ imported͏͏ gin͏͏ segment,͏͏ amounting͏͏ to͏͏ around͏͏ 100,000͏͏ cases.

Distillery͏͏ Operations͏͏ and͏͏ Product͏͏ Portfolio:

The͏͏ company͏͏ operates͏͏ a͏͏ distillery͏͏ in͏͏ Goa͏͏ with͏͏ a͏͏ production͏͏ capacity͏͏ of͏͏ 200,000͏͏ cases͏͏ and͏͏ offers͏͏ a͏͏ portfolio͏͏ that͏͏ includes͏͏ Greater͏͏ Than,͏͏ a͏͏ London͏͏ Dry͏͏ Gin,͏͏ and͏͏ Hapusa,͏͏ a͏͏ Himalayan͏͏ Dry͏͏ Gin.͏͏ In͏͏ the͏͏ 2023-24͏͏ fiscal͏͏ year,͏͏ Nao͏͏ Spirits͏͏ sold͏͏ one͏͏ million͏͏ bottles͏͏ of͏͏ Greater͏͏ Than͏͏ Gin.͏͏ Additionally,͏͏ it͏͏ introduced͏͏ Pipa͏͏ Rum͏͏ de͏͏ Goa,͏͏ a͏͏ premium͏͏ spiced͏͏ rum͏͏ with͏͏ limited͏͏ availability,͏͏ exclusively͏͏ in͏͏ Goa.

Continue͏͏ Exploring:͏͏ Broken͏͏ Bat͏͏ Gin͏͏ by͏͏ Nao Spirits hits͏͏ a͏͏ home͏͏ run,͏͏ named͏͏ ‘Best͏͏ Gin͏͏ in͏͏ Asia’͏͏ at͏͏ The͏͏ Gin͏͏ Guide͏͏ Awards͏͏ 2023

The͏͏ company͏͏ has͏͏ recently͏͏ entered͏͏ nine͏͏ new͏͏ international͏͏ markets,͏͏ such͏͏ as͏͏ Canada,͏͏ Malaysia,͏͏ Nepal,͏͏ Ukraine,͏͏ the͏͏ Philippines,͏͏ Japan,͏͏ Sri͏͏ Lanka,͏͏ China,͏͏ and͏͏ the͏͏ UAE.͏͏ With͏͏ exports͏͏ now͏͏ reaching͏͏ 23͏͏ countries,͏͏ key͏͏ markets͏͏ include͏͏ the͏͏ UK,͏͏ Italy,͏͏ Singapore,͏͏ Thailand,͏͏ Taiwan,͏͏ and͏͏ Norway.͏͏ The͏͏ company͏͏ is͏͏ also͏͏ aiming͏͏ to͏͏ expand͏͏ its͏͏ presence͏͏ in͏͏ duty-free͏͏ markets͏͏ across͏͏ the͏͏ UAE,͏͏ Singapore,͏͏ and͏͏ Nepal.

“On͏͏ the͏͏ export͏͏ front,͏͏ Hapusa͏͏ has͏͏ performed͏͏ exceptionally͏͏ well,͏͏ while͏͏ in͏͏ India,͏͏ Greater͏͏ Than͏͏ has͏͏ achieved͏͏ tremendous͏͏ success,͏͏ especially͏͏ given͏͏ that͏͏ the͏͏ category͏͏ was͏͏ virtually͏͏ non-existent͏͏ before.͏͏ There’s͏͏ been͏͏ significant͏͏ enthusiasm͏͏ surrounding͏͏ the͏͏ Indian͏͏ market,͏͏ which͏͏ makes͏͏ sense͏͏ since͏͏ gin,͏͏ being͏͏ a͏͏ spirit͏͏ crafted͏͏ with͏͏ herbs,͏͏ spices,͏͏ and͏͏ botanicals,͏͏ aligns͏͏ perfectly͏͏ with͏͏ India’s͏͏ status͏͏ as͏͏ the͏͏ world’s͏͏ spice͏͏ capital,”͏͏ the͏͏ CEO͏͏ explained.

While͏͏ exports͏͏ contribute͏͏ 15%͏͏ of͏͏ its͏͏ revenue,͏͏ domestic͏͏ sales͏͏ make͏͏ up͏͏ the͏͏ remaining͏͏ 85%.͏͏ Nao͏͏ Spirits’͏͏ brands͏͏ are͏͏ available͏͏ in͏͏ around͏͏ 12͏͏ states͏͏ through͏͏ civil͏͏ markets͏͏ and͏͏ 19͏͏ states͏͏ via͏͏ the͏͏ Canteen͏͏ Stores͏͏ Department͏͏ (CSD),͏͏ establishing͏͏ a͏͏ foothold͏͏ in͏͏ regions͏͏ like͏͏ Gujarat,͏͏ Kerala,͏͏ and͏͏ Tamil͏͏ Nadu,͏͏ where͏͏ they͏͏ are͏͏ not͏͏ otherwise͏͏ registered͏͏ in͏͏ civil͏͏ markets.

Growth͏͏ Trajectory:͏͏ 40%͏͏ YoY͏͏ Increase͏͏ and͏͏ EBITDA͏͏ Goals

Seventy͏͏ percent͏͏ of͏͏ the͏͏ company’s͏͏ sales͏͏ occur͏͏ off-trade,͏͏ through͏͏ retail͏͏ channels,͏͏ while͏͏ the͏͏ remaining͏͏ 30%͏͏ come͏͏ from͏͏ on-trade͏͏ sales.͏͏ In͏͏ 2022,͏͏ United͏͏ Spirits͏͏ Limited,͏͏ a͏͏ subsidiary͏͏ of͏͏ Diageo͏͏ India,͏͏ invested͏͏ INR͏͏ 31.5͏͏ crores͏͏ to͏͏ acquire͏͏ a͏͏ minority͏͏ stake͏͏ in͏͏ Nao͏͏ Spirits͏͏ &͏͏ Beverages.͏͏ With͏͏ a͏͏ year-on-year͏͏ growth͏͏ rate͏͏ of͏͏ 40%͏͏ over͏͏ the͏͏ past͏͏ two͏͏ years,͏͏ the͏͏ company͏͏ aims͏͏ to͏͏ achieve͏͏ EBITDA͏͏ positivity͏͏ in͏͏ this͏͏ financial͏͏ year.

Continue͏͏ Exploring:͏͏ Greater Than Gin expands͏͏ reach͏͏ with͏͏ introduction͏͏ of͏͏ GT͏͏ Minis͏͏ in͏͏ six͏͏ new͏͏ locations,͏͏ aiming͏͏ to͏͏ make͏͏ quality͏͏ gin more͏͏ accessible

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