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Tata Group Dismisses Reports of Starbucks Leaving India as ‘Unfounded’

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Tata Group Dismisses Reports of Starbucks Leaving India as ‘Unfounded’

Tata Consumer Products Ltd (TCPL) dismissed reports on Thursday claiming that Starbucks was planning to exit the Indian market, calling them “unfounded.” 

The Tata Group, in a 50:50 joint venture with US-based Starbucks Corporation, operates Starbucks cafés in India, where the brand remains the dominant café chain.

The State of Starbucks in India

As of the end of September, Starbucks had 457 stores across 70 cities in India and aims to expand this number to 1,000 by FY28. For the fiscal year 2024, the company reported a 12% increase in revenue from operations, reaching Rs 1,218.06 crore. However, its losses widened to Rs 79.97 crore from Rs 24.97 crore in FY23, primarily due to its aggressive expansion strategy.

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In terms of marketing, Starbucks saw a 26.8% rise in promotional expenses, totaling Rs 43.20 crore, while royalty payments amounted to Rs 86.15 crore, according to financial data from the business intelligence platform Tofler.

Reports of Starbucks Leaving India

These reports of Starbucks potentially leaving the Indian market came after speculation about high operating costs, mounting losses, and competition from cheaper local alternatives. In response, TCPL issued a regulatory filing on Thursday, firmly denying the claims as “baseless.”

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Starbucks entered the Indian market in October 2012 through its joint venture with Tata Group, with its first store opening in the Elphinstone Building in Mumbai.

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Blinkit Appoints Former Flipkart Executive Vipin Kapooria as Chief Financial Officer

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Blinkit Appoints Former Flipkart Executive Vipin Kapooria as Chief Financial Officer

Blinkit, the quick commerce platform owned by Zomato, has appointed Vipin Kapooria as its new Chief Financial Officer (CFO). 

Kapooria, a seasoned finance professional with over 16 years of experience, steps into the role as Blinkit’s first full-time CFO since 2022, signaling the company’s intent to bolster its financial strategy in an increasingly competitive market.

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Vipin Kapooria Gets Appointed New CFO of Blinkit

Kapooria’s impressive track record includes key leadership positions at Flipkart, where he served as Vice President and Business Finance Head for the mobiles, electronics, and large appliances divisions. 

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Kapooria’s Stellar Corporate Career 

His career also spans roles at prominent companies like OYO and Yum! Restaurants, the operator of brands such as KFC, Pizza Hut, and Taco Bell in India. As a chartered accountant with deep expertise in business finance, Kapooria’s appointment is seen as a strategic move by Blinkit to enhance its financial planning and operational efficiency as it navigates the fast-paced quick commerce industry.

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After ₹8 Lakh Investment and No Returns, YouTuber Decides to Quit

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Nalini Unagar, a YouTuber known for her cooking channel Nalini’s Kitchen Recipe, has decided to leave the world of content creation after three years of effort and an investment exceeding ₹8 lakh. 

Despite her dedication, Nalini revealed that she hasn’t earned any income from her channel, prompting her to make this tough decision.

YouTuber Shares her Struggles 

In a series of emotional posts on X, Nalini shared her struggles and announced that she is selling her kitchen equipment and studio gear. “After failing in my YouTube journey, I’m selling all my kitchen accessories and studio equipment. If anyone is interested, please let me know,” she wrote.

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She further opened up about the financial strain her channel placed on her. “I invested around ₹8 lakhs in setting up a kitchen, buying studio equipment, and promoting my channel. The result? Zero earnings,” she admitted in another post.

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Heartfelt Story Goes Viral, Netizens Empathise 

Nalini’s honesty struck a chord with many, sparking conversations about the challenges of thriving in the competitive world of online content creation. While some followers urged her to reconsider, she explained her decision to step away. “I dedicated three years to this platform, creating more than 250 videos. But the response was far from what I had hoped for. I’ve now deleted all my content and decided to move on,” she shared.

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Funding Boost: KiranaPro to Transform Local Stores into 10-Minute Delivery Hubs

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Funding Boost: KiranaPro to Transform Local Stores into 10-Minute Delivery Hubs

KiranaPro has secured pre-seed funding from a group of angel investors, including Yatish Talvadia, co-founder of MilkBasket, and Vikas Taneja, senior partner at Boston Consulting Group. 

KiranaPro Secures Crucial Funding for Growth Plans

The funding round also saw participation from early-stage investment firms like TurboStart, Unpopular Ventures, Blume Founders Fund, and Snow Leopard Ventures. While the exact amount raised has not been disclosed, the company is gearing up for ambitious growth plans.

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With the new funding, KiranaPro intends to expand its operational teams, strengthen its ONDC-integrated tech platform, and roll out a consumer app to fuel its entry into additional cities.

KiranaPro’s Unique Systems 

The company’s unique approach focuses on turning local kirana stores and supermarkets into ultra-fast fulfillment centers. By utilizing their proximity to customers, KiranaPro enables deliveries within just 10 minutes, redefining convenience shopping.

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To support its partners, the company offers flexible earning options, allowing store owners to choose between daily payouts or per-lead commissions. Additionally, KiranaPro has introduced specialized counters in supermarkets to streamline operations and ensure quick order processing for rapid deliveries.

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CCI Raids Liquor Giants Pernod Ricard and AB InBev Over Price-Fixing Allegations

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CCI Raids Liquor Giants Pernod Ricard and AB InBev Over Price-Fixing Allegations

India’s antitrust watchdog, the Competition Commission of India (CCI), has carried out surprise raids on the offices of Pernod Ricard and Anheuser-Busch InBev. 

These are two major players in the alcohol industry, as part of an investigation into alleged price-fixing with retailers in the southern state of Telangana, according to multiple sources.

CCI Conducts Surprise Raids on Top Liquor Brands

The raids, conducted on Wednesday, targeted corporate offices in Hyderabad and several retail partners in the surrounding region. This marks one of the most significant crackdowns in the industry in recent years, according to five individuals familiar with the matter who spoke under the condition of anonymity because they were not authorized to speak publicly.

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AB InBev, the maker of Budweiser, issued a brief statement saying, “We cannot comment on the specifics of this investigation but remain committed to compliance with antitrust laws and are cooperating with the authorities.” Pernod Ricard, known for brands like Chivas Regal, also confirmed its compliance with Indian regulations and stated it is assisting with the inquiry.

CCI Remains Tight lipped About this Raid

The CCI, as is customary during ongoing investigations, has declined to comment on the matter. Its confidentiality rules restrict public disclosure of details related to raids and probes until cases are concluded.

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This isn’t the first time the Indian beer and liquor sector has faced scrutiny. A similar investigation in 2018 involved raids on Carlsberg, AB InBev, and Heineken-controlled United Breweries. That case culminated in 2021, with Carlsberg and United Breweries being fined over $100 million collectively, though both companies have consistently denied any misconduct.

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CEO Rajat Agrawal and Team Take Over Barista Operations for a Day to ‘Learn by Doing’

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CEO Rajat Agrawal and Team Take Over Barista Operations for a Day to ‘Learn by Doing’

Rajat Agrawal, the CEO of Barista Coffee, recently took to social media to announce an event where the top leadership team of the company would take charge of store operations. 

The same would take place at Barista Cafe, Basant Lok Market. New Delhi, from 12 Noon to 5 PM. 

Barista Coffee CEO Announces Leadership Team to Take Charge of Store Operations for a Day

Agrawal penned an interesting statement explaining the reasoning behind this unusual move. He wrote: ”Barista’s on a Break. Leadership team to take charge. The best way to learn is to “Learn By Doing”, as we approach the end of 2024, we would love to give our Barista’s a break and get an on-ground feel of the actual learnings at the store getting into the shoes of our Barista’s who manage the show so well each day.” 

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In an appreciative gesture, the leadership team would handle store operations for a day at a New Delhi location. The CEO continued: “Idea is not only to improve as a team and a brand but further assist to build a strong 2025 at all levels, be it Consumer Experience, Team Collaboration & Effective Decision making”. 

CEO Rajat Agrawal Explains Motivation Behind this Move

Citing a famous quote by British entrepreneur Richard Branson, Agrawal discussed his motivation behind this fascinating move: “We are hopeful to see you all, testing us on our Barista Skills for a change and help us improve, we may not be as good as our Barista’s but are keen learner’s for sure. 

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I am a firm believer of a famous saying by Richard Branson – “We are hopeful to see you all, testing us on our Barista Skills for a change and help us improve, we may not be as good as our Barista’s but are keen learner’s for sure. I am a firm believer of a famous saying by Richard Branson – “You don’t learn to walk by following rules. You learn by doing, and by falling over.” 

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Scrabble Expands to Middle East, Appoints New Managing Director for Dubai

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Scrabble Expands to Middle East, Appoints New Managing Director for Dubai

Scrabble

Scrabble, a strategic recruitment firm from India, is making its debut in Dubai and the broader Middle East, marking an exciting move to tap into a burgeoning market.

Scrabble Makes Key Appointment to Boost Expansion 

To lead this expansion, the company has appointed Abhilash Joseph, an ISB graduate and experienced entrepreneur, as Managing Director for the region.

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Now based in Dubai, Abhilash will be responsible for driving Scrabble’s growth in the Middle East, building new partnerships, and addressing the hiring needs of businesses looking to set up or scale operations in the area.

Co-Founder of Scrabble Makes a Statement 

With an initial partnership already secured, Scrabble is focusing on collaborating with small to mid-sized startups, particularly those looking to establish a presence in Dubai and across the Middle East. 

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Naveen Tiwari, Co-Founder of Scrabble, said, “Dubai, with its multiple free zones and business-friendly policies, has emerged as a global hub for enterprises. From start-ups to established brands, many companies are shifting their bases to Dubai, leveraging the region’s ease of doing business and access to venture capital ecosystems.”

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Edept Gains $1 Million Backing to Deliver Job-Ready Education Programs

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Edept Gains $1 Million Backing to Deliver Job-Ready Education Programs

Edept, a Bengaluru-based edtech startup focused on higher education, has secured $1 million in seed funding. 

The round was led by Enzia Ventures and Equanimity Investments, with participation from notable investors like Bhavin Pandya (founder of Games24x7), edtech expert Arjun Mohan, and Loyal VC from Canada.

Edept Secures Major Funding 

The funds will be used to expand edept’s operations, grow its team, and enhance its proprietary technology platform to better serve universities and educational institutions.

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Founded in 2023 by Gaurav Bhatia (INSEAD), Puneet Saxena (IIM Lucknow), and Devendra Nagle (IIM Bangalore), edept helps universities create industry-driven programs designed to meet global workforce demands. By aligning academic courses with real-world needs, the startup aims to boost employability and prepare graduates for the challenges of a competitive global job market.

Comments by Top Industry Leaders 

Rajesh Sehgal, Managing Partner of Equanimity Investments had this to say: “Edept is addressing the critical skills gap in the industry by empowering college students to excel in the jobs of the future. Their collaborative business model positions them to forge strong, long-term partnerships with leading colleges,” 

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On the other hand, Namita Dalmia, Partner at Enzia Ventures, said, “At Enzia, we invest in fundamental human needs with a sharp focus on delivering customer outcomes. Education models that prioritize student outcomes will build trusted, sustainable brands that will help them build a large, profitable business. Edept’s innovative approach to collaborating with universities and industry to deliver career-focused programs both domestically and internationally is unique and sets them apart. We are excited to partner with them on this journey.”

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Medalio Resort Udaipur Marks the Debut of Treebo’s New Premium Hotel Brand

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Medalio Resort Udaipur Marks the Debut of Treebo’s New Premium Hotel Brand

Treebo Hospitality Ventures (THV) has unveiled its latest premium hotel brand, Medalio. The name, inspired by the word ‘medallion,’ symbolizes a recognition of excellence, catering to those who seek an elevated experience that aligns with their refined tastes. 

New Project Boasts World Class Amenities

Medalio hotels promise to deliver top-tier service and modern elegance, featuring spacious rooms with plush 10-inch mattresses, separate shower cubicles, expansive breakfast spreads, high-end Kimirica toiletries, and attentive service. Guests can also enjoy specially designed “memory corners” to enhance their stay.

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The first Medalio hotel, Medalio Resort Udaipur Shobhagpura, has opened in the scenic city of Udaipur. Located centrally in this iconic destination, the resort offers 30 tastefully furnished rooms, complete with a swimming pool, lush garden, spa, in-room mini-fridges, and safety lockers, ensuring guests enjoy a luxurious retreat.

Co-founder Gives an Insightful Comment on this Launch 

This launch follows closely behind the debut of Park Inn & Suites by Radisson Thrissur, the first in THV’s partnership with Radisson Hotel Group. Over the next decade, both brands aim to expand with a target of 150 hotels under the Park Inn & Suites banner.

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Speaking on this milestone launch, Sidharth Gupta, Co-founder & CEO of THV, said, “India is going through an unprecedented reshaping of the income pyramid. As per a recent report by Google, Bain, and Temasek, by 2030, there will be an additional 65 million households that will have joined the upper middle-income segment. Together, these 168M households will represent 52% of all consumption that happens in the country up from about 35% today. This made a compelling case for us to expand from the economy segment to the mid-market segment.”

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Accor to Open Pullman Chennai in 2025, Strengthening Its Premium Footprint

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Accor to Open Pullman Chennai in 2025, Strengthening Its Premium Footprint

Accor has announced the upcoming launch of Pullman Chennai, set to open its doors in January 2025. 

Previously operating as The Raintree Anna Salai, the property is owned by the Ceebros Group and marks a significant step in Accor’s efforts to strengthen its premium presence in India.

Key Highlights of this New Property 

Spread across 5,000 square meters, Pullman Chennai Anna Salai will offer 233 well-appointed rooms, including 11 luxury suites. Guests can look forward to a variety of dining options, including an all-day restaurant, specialty eateries, and a rooftop bar. 

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The hotel will also boast wellness amenities such as a fitness center, spa, and swimming pool, providing a seamless blend of comfort and functionality for both business and leisure travelers.

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Top Executive Explains the Significance of this Project 

The vice president of development, India & South Asia, Accor, Aniruddh Kumar said, “The signing of Pullman Chennai underscores our commitment to expanding Accor’s footprint in southern India. With its dynamic design and state-of-the-art facilities, this landmark hotel promises to deliver an exceptional experience for today’s global visionaries.”

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