Gully Labs Raises Rs 30 Crore Series A Led by Saama Capital to Scale Premium Indian Sneaker Brand

funding

January 20, 2026

Image of gali labs — Gully Labs Raises Rs 30 Crore Series A Led by Saama Capital to Scale Premium Indian Sneaker Brand

Indian sneaker label Gully Labs has closed a Rs 30 crore Series A funding round, marking a significant step in its ambition to build a homegrown premium footwear brand with global relevance. The round was led by Saama Capital, with continued participation from existing investor Zeropearl VC, according to people familiar with the development.

The fresh capital will be deployed to widen Gully Labs’ product range, scale its physical retail footprint across major Indian cities, and strengthen brand visibility in overseas markets such as the United States and the United Kingdom. The company is also sharpening its supply chain and customer engagement efforts as it prepares for its next phase of growth.

Founded in 2023 by Arjun Singh and Animesh Mishra, Gully Labs has positioned itself in the premium sneaker segment by drawing design inspiration from Indian cultural cues, regional art, and traditional craft narratives. The brand’s collections aim to blend contemporary sneaker silhouettes with locally rooted storytelling, targeting consumers looking for differentiation beyond mass-market footwear.

The Series A round also saw participation from a group of founders and angel investors with backgrounds across consumer brands, food, and education technology. These include Mokobara founder Sangeet Agrawal, Veeba founder Viraj Bahl, Unacademy co-founders Roman Saini and Gaurav Munjal, Genesis Luxury founder Sanjay Kapoor, and Edelweiss Mutual Fund MD and CEO Radhika Gupta.

Since raising its seed round in March 2025, Gully Labs has reported rapid traction. The company has scaled to an annualised revenue run rate of around Rs 30 crore, established offline stores in five Indian cities, and recorded early sales from international customers in the US and UK through cross-border channels.

Investors backing the brand said Gully Labs stands out for its clear premium positioning and early ability to build demand across both digital and physical retail formats. With the new funding in place, the company is now targeting an annualised revenue of Rs 100 crore by FY 2026–27, as it looks to cement its presence in India and build recognition in global sneaker markets.

Everstone to Exit Burger King India Operator Restaurant Brands Asia; Ajanta Pharma Family Office Emerges as Strategic Investor

Business

SnackTeam

January 20, 2026

Private equity investor Everstone is preparing to exit Restaurant Brands Asia, the master franchisee for Burger King in India and Indonesia, in a transaction that could bring in a new long term strategic backer and fresh capital for the quick service restaurant operator, according to people familiar with the development.

Everstone plans to sell its entire 11.26 percent holding in Restaurant Brands Asia through its investment arm QSR Asia Pte Ltd. Based on current market prices, the stake is valued at about $57 million. Restaurant Brands Asia is listed on Indian stock exchanges and currently has a market capitalisation of around $437 million.

Sources said the buyer is expected to be the family office of the promoters of Ajanta Pharma, which already has interests across healthcare and food businesses. The family office is likely to come in as a strategic investor and may inject up to Rs 8 billion into the company as part of the transaction. While the exact shareholding has not been finalised, discussions include the possibility of the family office eventually becoming a majority shareholder as other investors look to monetise their holdings over time.

Neither Everstone nor Restaurant Brands Asia responded to queries on the proposed deal. Representatives of the Ajanta Pharma family office also declined to comment.

The potential change in shareholding comes at a time when Restaurant Brands Asia is looking to strengthen its balance sheet and accelerate growth. The company informed stock exchanges last week that its board would meet on Tuesday to consider fundraising options, without providing further details.

Restaurant Brands Asia operates the Burger King brand across India and Indonesia and has been expanding its store network steadily in recent years. The business has faced pressure from rising costs, intense competition and the need for sustained capital investment to support store additions, supply chain upgrades and marketing.

If completed, the transaction would mark a full exit for Everstone, which has been invested in the business since its early years, and could signal a new phase for Restaurant Brands Asia under a capital provider with a longer investment horizon and a sharper focus on operational scale.

Private Equity Eyes Minority Stake in Purplle Cosmetics at $1.5 Billion Valuation

INVESTMENTS

SnackTeam

January 20, 2026

Private equity interest is intensifying around Purplle Cosmetics, with several large buyout and growth investors exploring a minority investment in the Indian beauty platform, according to people familiar with the discussions. The proposed transaction could peg the company’s valuation at nearly ₹13,000 crore, or about $1.5 billion, marking a step-up from its last funding round in 2024.

KKR, TPG Growth and ChrysCapital are understood to be holding separate conversations to acquire a minority stake in the omnichannel beauty retailer. While the exact stake size is yet to be finalised, the transaction is expected to involve an investment of roughly ₹1,800 crore through a combination of fresh capital and secondary share purchases. As part of the deal, some early-stage venture capital and angel investors are likely to partially monetise their holdings.

Purplle was last valued at approximately ₹10,000 crore when Abu Dhabi Investment Authority led a ₹1,500 crore round in 2024. Since its inception in 2012, the Mumbai-based company has raised close to $560 million across multiple funding rounds and built a diversified shareholder base that includes ADIA, Kedaara Capital, Premji Invest, Peak XV Partners, Verlinvest, Blume Ventures and others.

Founders Manish Taneja, Rahul Dash and Suyash Katyayani together hold about 15.6 percent of the company, while institutional investors control close to two-thirds of the equity. Verlinvest is currently the single largest shareholder.

Purplle operates a hybrid model, combining third-party brand sales with a strong portfolio of private labels such as Faces Canada, Alps Goodness, Good Vibes, Carmesi and NY Bae. The platform hosts over 1,000 brands and more than 60,000 products, serving around seven million monthly active users. It employs nearly 3,000 people across its operations.

The company reported revenue of ₹1,410 crore in FY25 and competes with players such as Nykaa, Tira, Good Glamm, Pilgrim and Innovist in a market that continues to attract investor capital. India’s beauty and personal care sector is projected to grow at a compounded annual rate of over 10 percent to reach $34 billion by 2028, with e-commerce emerging as the fastest-expanding channel.

Bagelstein Opens Third India Outlet in Bengaluru, Targets 100 Stores Nationwide by 2029

Retail & Ecommerce

SnackTeam

January 19, 2026

Image of Bagelstein — Bagelstein Opens Third India Outlet in Bengaluru, Targets 100 Stores Nationwide by 2029

French café brand Bagelstein has stepped up its India expansion with the launch of its third outlet in Bengaluru, reinforcing its long term ambition to build a nationwide presence in the country’s organised foodservice market.

The new store, located at EGL Business Park, marks Bagelstein’s first entry into Bengaluru after earlier openings in Delhi and Hyderabad in 2025. With this launch, the brand is establishing itself in one of India’s most competitive and consumption driven urban food markets, known for its strong appetite for global café and quick service formats.

Founded in France in 2011, Bagelstein operates in the premium café and QSR segment, offering freshly prepared bagels, sandwiches and beverages tailored for fast paced urban consumers. The brand has built its international reputation on a casual dining experience that combines convenience with a distinctly European café culture.

India is emerging as a strategic focus market for Bagelstein as rising disposable incomes, changing eating habits and exposure to international food trends continue to reshape urban consumption. Western café formats, in particular, are seeing increased traction among office goers, students and young professionals seeking quick meals in social settings.

According to the company, the Bengaluru outlet is part of a larger rollout plan that targets 100 stores across major Indian cities by 2029. Planned markets include Delhi, Mumbai, Bengaluru, Chennai and Hyderabad, with future locations expected to focus on high footfall business districts, malls and mixed use developments.

The expansion comes at a time when India’s café and QSR space is witnessing intense competition from global chains and homegrown brands alike. Despite this, Bagelstein is betting on its differentiated menu, consistent quality and premium positioning to carve out a sustainable share of the market.

As organised foodservice continues to expand beyond metros into new consumption hubs, Bagelstein’s India strategy reflects growing confidence among international brands in the country’s evolving dining landscape.

Salty Raises ₹5.4 Crore Led by Anicut Capital to Scale Fashion Jewellery Business in India

funding

SnackTeam

January 19, 2026

Indian fashion jewellery startup Salty has raised ₹5.4 crore in a fresh funding round led by Anicut Capital, with participation from All In Capital, Suashish Diamonds, JK Group and a group of angel investors, as the brand looks to scale operations and broaden its product portfolio.

Founded by Twishaa Gupta, Kanishka Garg and Sonaal Goel, Salty operates in the fast-growing affordable fashion accessories segment, offering trend-driven jewellery across categories such as earrings, necklaces, bracelets and statement pieces. The brand positions itself at the intersection of everyday wear and occasion-led styling, targeting young, digital-first consumers seeking expressive yet accessible designs.

According to the company, the newly raised capital will be deployed toward expanding its core team, strengthening supply chain capabilities and launching new collections. A portion of the funds will also be used to accelerate product development as Salty plans to significantly widen its design catalogue over the next year.

The founders said the backing from consumer-focused investors reflects confidence in the long-term potential of India’s fashion jewellery market, which continues to benefit from rising online consumption, social media-led discovery and increasing acceptance of non-precious accessories among urban shoppers.

Operationally, Salty claims to have delivered over one lakh orders within a little over a year of launch, highlighting strong early traction in a competitive category. The brand has also built a social media following of close to 100,000 users on Instagram, which it actively uses as a sales and community engagement channel.

Looking ahead, the startup is targeting an annual revenue run rate of ₹40 crore in 2024 and plans to scale its assortment to more than 3,000 designs. Salty is also preparing to launch its own mobile application to deepen customer engagement and improve repeat purchases, alongside expanding its digital footprint across platforms.

The company has previously been selected under the Startup India Seed Fund programme and believes the current funding round puts it on a clear path toward building a ₹100 crore fashion accessories business over the coming years, supported by strong demand for affordable, trend-led jewellery in India’s evolving retail landscape.

Nom Nom Express Partners Farah Khan for Content-Driven Marketing Push as Pan-Asian QSR Expands Rapidly in India

Business

Online Desk

January 19, 2026

– Image of nom nom. — Nom Nom Express Partners Farah Khan for Content-Driven Marketing Push as Pan-Asian QSR Expands Rapidly in India

Nom Nom Express, a fast-growing pan Asian quick service restaurant brand under Aspect Hospitality, has roped in filmmaker and television personality Farah Khan for a content focused brand partnership as it accelerates its expansion across India’s organised foodservice market.

The collaboration also features Farah Khan’s long time home cook Dilip, whose appearances in her digital videos have built a strong following among food loving audiences. Rather than a conventional celebrity endorsement, the association is structured around digital storytelling, everyday food conversations and informal kitchen led content aimed at strengthening consumer recall.

Nom Nom Express operates with a compact, value oriented menu covering popular Asian formats across dine in and delivery. Within a year of operations, the brand has scaled to 50 outlets across multiple Indian cities, reflecting growing consumer demand for affordable, familiar Asian flavours in the QSR format. The brand’s expansion has been driven by a focus on standardised operations, delivery friendly menus and cost efficiency, allowing it to grow rapidly without significant dilution in quality.

Industry data shows that the Indian QSR market continues to expand at a high single digit pace, with Asian cuisine emerging as one of the fastest growing sub segments due to its adaptability to Indian tastes and strong performance on delivery platforms. Nom Nom Express is positioning itself to capture this demand by blending consistency with mass appeal pricing.

Hitesh Keswani, managing director of Aspect Hospitality, said the partnership was built on alignment rather than star power. He noted that Farah Khan’s digital food content resonates with everyday consumption habits and mirrors the brand’s focus on accessible dining experiences.

The move highlights a broader shift in QSR marketing strategies, where brands are increasingly investing in creator led content instead of high cost advertising campaigns. By tapping into established digital communities, Nom Nom Express aims to keep customer acquisition costs in check while building familiarity as it enters new markets.

With outlet additions planned across urban centres and select emerging cities, the brand is betting that relatable content and steady execution will support its next phase of growth.

Imperial Blue Records 1.79 Million Case Sales in First Month, Strengthens Tilaknagar’s Pan-India IMFL Presence

Business

SnackTeam

January 19, 2026

Tilaknagar Industries has begun its ownership of Imperial Blue whisky on a strong footing, recording robust volumes in the very first month after completing the acquisition from Pernod Ricard India. In December 2025, Imperial Blue clocked primary sales of 1.79 million cases, signalling a smooth transition and immediate traction under its new owner.

Including Imperial Blue, Tilaknagar Industries reported total primary sales of 3.09 million cases during the month, underscoring the scale the company has achieved following the landmark transaction. The addition of one of India’s largest selling whisky brands has transformed Tilaknagar from a largely regional player into a truly national contender in the Indian Made Foreign Liquor market.

Company executives attributed the early momentum to strong execution and a well established distribution network. The performance, they said, reflects the company’s ability to absorb and scale a large brand quickly while maintaining continuity in supply across key markets.

The impact of the acquisition has been particularly visible in southern India, where Tilaknagar has strengthened its leadership position. According to regulatory disclosures, the company has emerged as the second largest national player in the South IMFL market with a 9.7 percent share. It also leads the Prestige and Above segment with a 32 percent share, supported by secondary sales of 2.11 million cases in the region.

State level performance highlights further underline the gains. In Telangana, Tilaknagar has become the largest IMFL player with sales of around one million cases and a market share of 21.7 percent. The company commands over 30 percent share in the premium segment across Telangana and Karnataka. In Andhra Pradesh, it now ranks second overall with sales of 6.37 lakh cases and holds a leading 38.7 percent share in the Prestige and Above category.

The Imperial Blue business was acquired through a slump sale valued at Rs 3,442 crore, with an additional deferred payment of €28 million scheduled after four years. With integration underway, Tilaknagar is now focused on improving supply chain efficiencies and expanding margins as it builds scale across markets.

Kay Beauty Enters Luxury Makeup Space with Falguni Shane Peacock Couture Collaboration

Business

SnackTeam

January 19, 2026

Kay Beauty, the cosmetics brand co-founded by actor Katrina Kaif and Nykaa, is stepping into the premium beauty segment with a limited-edition collaboration alongside Indian couture label Falguni Shane Peacock. The new range, titled Kay Kouture, marks the brand’s first foray into luxury-priced makeup and signals a broader ambition to blend high fashion with everyday beauty.

The collection features matte lipsticks and multifunctional face palettes, with prices starting at ₹1,799, a noticeable shift from Kay Beauty’s core assortment, which is largely positioned below the ₹1,000 mark. In the Indian market, where designer-beauty collaborations remain relatively rare, the launch stands out. Comparable partnerships have largely been limited to global luxury players, such as the Sabyasachi and Estée Lauder collaboration in 2024.

Drawing inspiration from Indian textiles and couture craftsmanship, the range includes 12 lipstick shades that reflect traditional fabrics and finishes. Colours such as Blush Zari, Champagne Brocade and Mulberry Cashmere reference embroidery, metallic threads and rich weaves often seen in bridal and occasion wear. The face palette has been designed for versatility, allowing use across eyes, cheeks and lips, catering to consumers seeking fewer but more adaptable products.

Visually, the collection leans into a strong design narrative. Packaging reflects a 1920s Art Deco influence, combining structured geometry with metallic accents and ornate detailing. Motifs drawn from Falguni Shane Peacock’s design language, including sun-ray patterns from the brand’s logo, appear across lipstick bullets and palettes.

The collaboration is also rooted in consumer insight. According to Nykaa Fashion CEO and Nykaa co-founder Adwaita Nayar, Indian beauty shoppers are increasingly looking beyond basic performance. With access to a customer base exceeding 45 million users, Nykaa’s data indicates rising demand for products that feel expressive, premium and emotionally engaging while remaining practical for daily use.

For Kay Beauty, Kay Kouture represents both a creative and commercial experiment, positioning the brand closer to the luxury end of the spectrum while testing appetite for fashion-led makeup in India’s evolving beauty market.

India’s Ready-to-Cook and Heat-and-Eat Food Market Set for Strong Growth Through 2029

Business

SnackTeam

January 19, 2026

India’s ready to cook and heat and eat food segment is moving into a high growth phase as large FMCG companies and consumer focused startups intensify competition for a bigger share of household kitchens. The market, estimated at about $6.7 billion in 2024, is gaining momentum as urban consumers seek faster meal options without compromising on taste, familiarity or ingredient quality.

Industry estimates suggest the category will expand at a compound annual growth rate of 6 to 8 percent through 2029. Growth is being driven by rising disposable incomes, smaller family sizes and longer working hours, particularly in metro and Tier 1 cities. Consumers are also showing a clear shift toward cleaner labels, regional flavours and products positioned as closer to home cooked food rather than heavily processed meals.

Large FMCG players are scaling up investments to capture this demand. ITC has strengthened its presence in frozen and premium ready meals through brand expansion and acquisitions, while integrating culinary expertise from its hospitality business into packaged offerings. Tata Consumer Products is focusing on shelf stable ready meals that do not require freezing, addressing distribution challenges beyond major cities. MTR continues to defend its leadership in breakfast mixes by launching faster cooking formats targeted at younger consumers, while Godrej Tyson Foods is expanding its ready to cook portfolio across vegetarian and non vegetarian segments to compete directly with quick service restaurants.

Startups are also reshaping the category by pushing freshness and transparency. iD Fresh Food has moved beyond batters into ready to heat accompaniments such as sambar and chutneys. Licious is shifting emphasis toward marinated and quick cook products to improve margins and encourage premium consumption. Brands such as Slurrp Farm are carving out niches with clean label, millet based mixes aimed at children.

Regional cuisine is emerging as a key differentiator, with companies launching products inspired by local gravies and spice blends. At the same time, advances in preservation technology are allowing room temperature storage, reducing logistics costs and expanding reach.

As competition sharpens, the next phase of growth is expected to be driven by consolidation, private labels and continued innovation around shelf life, taste and trust. For Indian consumers, convenience is no longer about speed alone but about familiarity and confidence in what reaches the plate.

Lulu Group to Raise India Sourcing to 35%, Eyes E-commerce Partnerships by Q1 2026

Growth

SnackTeam

January 19, 2026

Lulu Group International is deepening its engagement with India as it sharpens its global sourcing and retail strategy amid volatile trade conditions and geopolitical uncertainty. The Abu Dhabi headquartered retail major plans to increase India’s contribution to its overall imports to 35 percent over the next two years, up from the current 26 to 27 percent, according to chairman and managing director M A Yusuff Ali.

The group currently sources goods worth nearly ₹11,000 crore annually from India, with food and agricultural products forming the bulk of imports. Fresh fruits and vegetables, spices, FMCG items and textiles are procured through more than 30 sourcing and food processing centres spread across the country. Ali said India’s scale, competitive pricing and improving quality standards make it a critical pillar of Lulu’s long term supply chain planning, not only for the Gulf markets but also for other international geographies.

Lulu operates over 260 retail stores across the GCC, India, Southeast Asia and parts of Africa. In response to rising input costs, new trade barriers and shipping disruptions, the group has accelerated supplier diversification, strengthened audit processes and worked closely with logistics partners to secure container availability. It is also expanding direct sourcing, private labels and contract farming while investing in cold chain and backend infrastructure to stabilise prices and ensure consistent supply.

As part of its omni channel push, Lulu is preparing to partner with Indian ecommerce platforms and expects to roll out its hypermarket offerings through local online aggregators in the first quarter of 2026. The group already has similar digital tie ups in the Middle East with platforms such as Amazon, Talabat and HungerStation.

Lulu Group, which listed on the Abu Dhabi Securities Exchange in late 2024 and raised $1.72 billion, continues to invest aggressively in India. Its ₹10,000 crore investment plan announced in 2023 remains on track, with spending underway across retail expansion, logistics, food processing and technology. The retailer currently operates malls and hypermarkets in 10 Indian cities, with new projects planned across metros and Tier 2 markets including Ahmedabad, Visakhapatnam, Chennai, Hyderabad and several towns in Kerala.

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