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Competition Commission Flags Cartel Behaviour in Maharashtra’s Liquor Market

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The Competition Commission of India has instructed three major liquor trade associations in Maharashtra to immediately halt practices that the regulator found to be restricting fair competition across the state’s alcoholic beverages market.

The order, issued on Thursday, follows a detailed investigation into the Maharashtra Wine Merchants’ Association, the Pune District Wine Merchants’ Association and the Association of Progressive Liquor Vendors. According to the regulator, all three bodies were involved in coordinating commercial terms that should have been left to individual businesses to decide.

The inquiry was triggered by information submitted to the commission that described how the associations were collectively prescribing conditions to manufacturers, distributors and retail sellers. The regulator found evidence that these groups were circulating instructions through emails, notices and internal communications that influenced retail margins, launch schemes for new products, transportation and delivery charges, cash discounts, and credit periods. In some cases, the associations were also collecting mandatory launch fees and seeking donations linked to commercial activity.

The commission noted that the most serious concern was the practice of requiring alcoholic beverage manufacturers to obtain a no objection certificate from the associations before launching new products. The CCI held that this requirement functioned as a barrier to entry and discouraged pricing freedom, ultimately limiting consumer choice.

In its order, the regulator concluded that these practices violated Section 3(3)(a) and Section 3(3)(b) of the Competition Act, read with Section 3(1). The findings also held the office bearers of the associations responsible for supporting and enabling the conduct, making them liable under Section 48 of the Act.

The three associations have been directed to cease all such activities with immediate effect. The decision is expected to bring more pricing autonomy, fewer administrative barriers and greater transparency to Maharashtra’s liquor trade.

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Honasa Consumer Makes Rs 195 Crore Bet on Men’s Personal Care with BTM Ventures Deal

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Image of Honasa.
Honasa Consumer Makes Rs 195 Crore Bet on Men’s Personal Care with BTM Ventures Deal

Honasa Consumer Ltd, the company behind Mamaearth, The Derma Co and Aqualogica, is making a decisive move into the men’s grooming space with the acquisition of BTM Ventures at an enterprise value of Rs 195 crore. The deal gives Honasa control of Reginald Men, a young but fast-scaling brand that has built a strong presence in the south Indian market through a focused range of men’s personal care products.

Reginald Men was founded in August 2022 by Trisha Reddy Talasani and has quickly carved out space in a category that has seen rapid consumer adoption over the past three years. The brand offers a curated line-up centred on sunscreen, serums and everyday grooming essentials. Over the twelve-month period from November 2024 to October 2025, it reported revenue of more than Rs 70 crore with an EBITDA margin of nearly twenty-five percent, placing it among the faster-growing independent brands in the men’s care segment.

Under the agreement, Honasa will acquire ninety-five percent of BTM Ventures through a secondary share purchase, with the remainder scheduled to be bought after a year based on valuation metrics agreed in advance. The deal gives Honasa immediate access to a consumer base that is both sticky and fast expanding, especially in the southern states where Reginald Men earns the bulk of its revenue.

Honasa said the acquisition strengthens its portfolio in categories that are already strategic priorities, particularly sunscreen and serums. Executives noted that the brand’s understanding of male grooming behaviour, product preferences and category gaps made it a strong fit at a time when men’s personal care is becoming one of the most dynamic sub-segments in beauty and wellness.

Varun Alagh, Co-founder and Chief Executive of Honasa Consumer, said the move reinforces the company’s position in India’s beauty and personal care market. He added that Reginald Men brings strong consumer insight and a clear product philosophy aimed at modern male buyers, making the acquisition a natural extension of Honasa’s growth strategy.

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Coca Cola Hands the CEO Job to Henrique Braun as James Quincey Moves Up to Executive Chairman

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Coca Cola has set the stage for an important leadership shift as it prepares to hand the reins of the company to one of its most experienced insiders. The beverage giant has confirmed that its chief operating officer Henrique Braun will take over as chief executive in the early months of 2026. Braun has spent close to thirty years at Coca Cola, rising through a series of global roles where he worked on brand expansion, market strategy, and regional growth. His appointment signals a continuation of the company’s belief in home grown leadership and long term succession planning.

James Quincey, who has led the company since 2017, will step into the position of executive chairman. Quincey’s term brought steady revenue gains, a sharper global strategy, and a major reorganisation of Coca Cola’s product portfolio. He steered the company through a period marked by supply chain stress, shifting consumer preferences, and intense competition from new age beverage brands. Under his watch, Coca Cola pushed deeper into ready to drink coffee, flavoured hydration, and low sugar offerings that reflected changing tastes across markets.

With Braun taking over, the company enters a new phase where it must juggle innovation with discipline. Coca Cola continues to face stubborn cost pressures, currency related challenges, and rapid changes in retail behaviour. Investors will watch closely to see how Braun positions the company in categories that are growing faster than carbonated drinks. His long career inside the Coca Cola system gives him a detailed view of both strengths and blind spots, something the board sees as important at this moment.

The transition also reinforces the company’s focus on continuity rather than dramatic shifts. As 2026 approaches, Coca Cola will look to Braun to keep the business steady while pushing it into new areas of growth.

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Jasper Food Buys Ten Percent Stake In Shark Tank Star SoupX As It Strengthens Its Health Food Portfolio

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Jasper Food Manufacturers Pvt Ltd, the ready to eat and ready to cook arm of the Jasper Group, has taken a significant step by acquiring a ten percent equity stake in SoupX. The young food tech brand, known for its clean ingredient soups and healthy meal bowls, recently gained national attention after appearing on Shark Tank India in its second season. The move signals Jasper Food’s growing interest in the health focused prepared food segment, which has been expanding quickly in urban markets.

SoupX started with a simple idea. Make healthy food convenient without compromising on taste. Over the last few years, the brand has built a loyal customer base across major cities by offering a menu that caters to fitness enthusiasts, working professionals, and anyone who wants quick nutritious meals. Their soups, smoothies, and low calorie meal plans have found strong traction among young consumers who want reliable options delivered to their doorstep.

For Jasper Food, this investment is not just financial. It is a way to strengthen its presence in a category that is shaping the future of eating habits in India. The company already has a strong distribution network through its ready to eat and ready to cook offerings. With SoupX on board, Jasper Food can tap into a customer base that values wellness and sustainability.

Industry observers see this partnership as a smart move at a time when healthier food choices are becoming mainstream. The ready to eat sector has been growing steadily, supported by rising disposable incomes and the convenience driven lifestyle of urban families.

With Jasper Food’s manufacturing strength and SoupX’s brand goodwill, the two companies are expected to scale the health food category further. The deal marks a promising chapter for both sides as they prepare for the next wave of demand in the Indian packaged food space.

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Bamboo Kidswear Brand Kidbea Prepares For Major Offline Wave With One Hundred Stores In Two Years

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Kidbea, the homegrown kidswear brand known for its bamboo based clothing, is gearing up for one of its biggest expansion phases yet. The company has shared an ambitious plan to launch one hundred new outlets over the next twenty four months, aiming to push its revenues to the five hundred crore mark. The move signals a strong shift from an online first approach to a deeper offline presence, driven by rising demand for sustainable and skin friendly apparel for children.

The brand’s newest stores have been designed to feel warm and inviting, with soft pastel tones, playful decor, and neatly displayed collections. The focus is on creating a space where parents can browse comfortably and children feel at ease. Kidbea’s founders believe that the experience inside the store is as important as the product itself, especially when it comes to young families.

As part of its rollout strategy, Kidbea will open clusters of stores across North and West India, strengthening its reach in cities where awareness for eco friendly products is growing quickly. The bigger push, however, is aimed at the southern region, which the brand sees as a high potential market. Bengaluru, Chennai, Hyderabad, Kochi, Coimbatore, and Madurai have already been identified as key cities for aggressive expansion.

Kidbea’s confidence comes from the steady rise in demand for bamboo based fabric, which is known for being gentle on the skin, breathable, and suitable for children with sensitivities. With parents becoming more conscious about what their kids wear, the brand feels the timing is ideal for a larger offline footprint.

If Kidbea manages to hit its target of one hundred stores and five hundred crore revenue, it would mark one of the strongest growth stories in the kids apparel segment in recent years.

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Nykaa Secures Exclusive Partnership to Bring Yves Rocher to India in Major 2026 Launch

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French beauty powerhouse Yves Rocher is making its entry into India through a strategic tie-up with Nykaa, signaling an ambitious expansion in one of the world’s fastest-growing cosmetics markets. The brand, owned by Groupe Rocher, plans to launch around 100 products spanning haircare and skincare across Nykaa’s online platforms and its 265 offline stores in June 2026.

Jean-David Schwartz, CEO of Groupe Rocher, described the partnership as a key milestone in the company’s international growth strategy. He emphasized that Yves Rocher’s integrated model and scientific expertise align closely with the rising preference among Asian consumers for natural, effective, and transparent beauty solutions. The alliance leverages Nykaa’s pan-India presence to deliver the brand’s dermo-botanical offerings, while also capitalizing on the retailer’s strong digital infrastructure, including app, website, and offline footprint.

Anchit Nayar, Executive Director and CEO of Nykaa Beauty, said the collaboration responds to strong anticipation among Indian consumers for the French brand. He highlighted Yves Rocher’s combination of nature and science as a compelling fit for India, where the beauty and personal care sector is valued at €21 billion and is projected to reach €39 billion by FY2030. Natural and organic beauty segments are outpacing conventional categories, underscoring a favorable environment for Yves Rocher’s entry.

The company’s global expansion is supported by a €100 million, four-year investment plan aimed at strengthening its portfolio across key markets, including Asia. Digital channels, such as TikTok Shop and regional marketplaces, are expected to play a key role in reaching new consumer segments.

Guillaume Darrousez, CEO of Yves Rocher, called the Nykaa tie-up a proud moment, noting that the company’s commitment to naturality, efficacy, and transparency provides strong differentiators in India. With this strategic launch, Yves Rocher aims to establish a meaningful presence in the country while capitalizing on growing consumer demand for science-backed, botanical beauty products.

The partnership positions Yves Rocher to compete in India’s premium natural cosmetics segment, leveraging Nykaa’s distribution network and digital reach to quickly scale brand visibility and consumer adoption.

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Premium Coffee Brand Toffee Coffee Roasters Plans 10x Production Expansion After Rs 5 Crore Funding

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Premium Indian coffee brand Toffee Coffee Roasters has secured Rs 5 crore in a Pre-Series A funding round led by Inflection Point Ventures, with participation from 66 Bridge Partners, Abhijit Vemuganti, and Invesst. The funding marks a significant step for the brand as it seeks to scale operations amid growing demand for at-home specialty coffee.

According to the company, roughly 60 percent of the capital will be used as working capital to support operational expansion. The remainder will fund roastery upgrades, revamp packaging, and launch new products, aimed at enhancing both quality and consumer experience. Toffee Coffee Roasters currently produces over five tonnes of coffee monthly and aims to scale output to 50 tonnes, reflecting a tenfold increase to meet rising market demand.

The brand, which gained national visibility following its appearance on Shark Tank India, currently holds an estimated 1–2 percent share of the domestic coffee market and ranks among the top five online coffee platforms in terms of digital traction. Its growth trajectory underscores the increasing preference among Indian consumers for premium, at-home coffee experiences, moving beyond traditional café consumption.

Inflection Point Ventures, which has deployed over Rs 800 crore across 250 startups, highlighted that Toffee Coffee Roasters is tapping into a rapidly expanding segment. Analysts note that India’s specialty coffee market has been growing steadily, driven by urban consumers seeking quality, convenience, and curated coffee offerings at home.

Co-founder and CEO of Toffee Coffee Roasters said the funding will allow the brand to strengthen supply chains, improve roasting precision, and enhance product visibility across both digital and offline channels. By upgrading its roastery and diversifying product lines, the company aims to consolidate its position as a premium coffee brand while capturing a larger share of the growing at-home specialty coffee market in India.

With this capital infusion, Toffee Coffee Roasters is poised to accelerate its expansion and meet evolving consumer expectations for high-quality, curated coffee experiences.

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Premium Lingerie Brand Wacoal Debuts Stellar AW ’25 Collection at DLF Mall of India

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Premium Japanese lingerie brand Wacoal has opened its newest store at DLF Mall of India, Noida, marking a significant milestone in its North India expansion. The 300 sq. ft. outlet is designed to offer an immersive shopping experience with private fitting rooms, intuitive product zoning, digital displays, and trained fit experts to guide customers in selecting the perfect style and size.

“At Wacoal, our focus is on delivering exceptional fit, quality, and a premium shopping journey,” said Pooja Merani, COO, Wacoal India. “This new store strengthens our presence in Delhi-NCR and brings our curated offerings closer to consumers in a prominent mall location.”

The store features an extensive range of products, including the BASICS collection, the newly launched Stellar Collection, Autumn/Winter 2025 (AW ’25) seasonal lines, bridal lingerie, sleepwear, and loungewear. The outlet reflects Wacoal’s commitment to combining style, comfort, and quality in every product, while integrating an engaging retail environment that highlights the brand’s story.

Hirokuni Nagamori, CEO, Wacoal India, emphasized that the brand’s rapid growth in Delhi-NCR is driven by increasing consumer awareness of premium lingerie, proper fit, and curated comfort-first shopping experiences. The company currently operates 18 exclusive stores in India, alongside more than 45 large-format stores and 85 multi-brand outlets across major cities including Mumbai, Bangalore, Kolkata, and Chennai.

Wacoal’s expansion strategy includes leveraging both physical and digital channels to strengthen its omni-channel footprint. The DLF Mall of India store is part of a broader plan to open additional outlets in high-potential North Indian markets, ensuring access to premium lingerie for modern Indian women.

Founded in Japan in 1946, Wacoal entered India in 2015 and has since focused on delivering expertly crafted lingerie that blends style, support, and comfort. With a combination of retail, multi-brand, and online channels, Wacoal continues to meet the evolving needs of women seeking premium, well-fitting intimate wear.

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How Loonen Is Redefining Premium Water With Third-Party Testing and Transparent Reports

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Loonen, a young entrant in the premium bottled water market, is positioning itself around a simple promise that has become surprisingly rare in the category: genuine purity backed by visible proof. The California based brand sources its water directly from natural springs, puts it through a multi stage filtration process for contaminants, lightly mineralizes it for a clean taste profile, and bottles it only in glass. The company says each of these steps was designed to address mistrust among consumers who increasingly scrutinize what they drink.

What sets Loonen apart is not only its process but how openly it reports the results. Every production batch undergoes third party testing, and the findings are published for customers to access. The founders say transparency is core to the brand’s identity at a time when bottled water has grown into one of the largest packaged beverage categories in the United States yet remains one of the least understood in terms of sourcing and composition.

The label was co founded by Clara Sieg, Operating Partner at Revolution Ventures, and David Kimmell, former Chief Supply Chain Officer at Lemon Perfect and Senior Vice President of Operations at Spindrift. Their combined backgrounds in venture, operations and consumer goods shaped Loonen’s strategy to begin with a targeted rollout rather than mass distribution.

The brand is currently available on Amazon and through a network of independent retailers across California, a market where premium water continues to expand steadily as shoppers trade up for cleaner ingredient lists and more environmentally conscious packaging. With glass packaging at its centre and a science first approach to quality, Loonen is positioning itself against both mainstream bottled water and the growing number of functional water products that prioritise additives over purity.

The company plans to widen distribution gradually while holding firm on its commitment to testing frequency and publicly shared data, which it sees as the foundation of long term consumer trust.

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KNOT Bags 5 Million Dollars Funding as 60 Minute Fashion Delivery Demand Accelerates

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Mumbai’s fast-fashion delivery landscape is picking up pace, and KNOT has moved quickly to secure fresh capital to stay ahead. The quick fashion startup has raised 5 million dollars in a funding round led by 12 Flags, with participation from existing backers Kae Capital and Boundless Ventures. The raise comes barely three months after the company closed its pre-Series A round of 3 million dollars, signalling investor confidence in its rapid early traction.

Founded earlier this year by IIT Bombay graduates Archit Nanda and Rachit Bansal, KNOT has built its proposition around a simple but ambitious promise: fashion delivered to your door within 60 minutes, paired with doorstep trials and instant returns. The model is designed for Gen Z and millennial shoppers who increasingly expect spontaneity in fashion discovery and minimal friction in purchase decisions.

The company plans to deploy the new funds to deepen its 60-minute delivery network across Mumbai and make early inroads into other major metros. A large portion of the capital will go into strengthening micro-warehousing, expanding routing capabilities and reinforcing last-mile logistics to support higher order density.

KNOT has also begun widening its brand catalogue. In recent weeks, it has onboarded major apparel names including Jack and Jones, Vero Moda, Louis Philippe, Van Heusen and Allen Solly. The move is aimed at balancing speed with selection, a combination the founders believe will shape the future of urban fashion consumption.

The startup reports it has crossed 350 daily orders, a threefold rise in the last quarter. Its platform includes virtual try-on tools and at-home trials to reduce the hesitation often associated with online fashion purchases.

KNOT competes with players such as Slikk and ZILO, while platforms like Myntra have started scaling their own fast-delivery fashion services. With shoppers gravitating toward faster fulfilment and curated discovery, the quick fashion category is preparing for its next phase of growth, and KNOT intends to remain one of its early pace-setters.

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