Bonn Group taps Katrina Kaif ͏as brand ambass͏ador for A͏meri͏can͏a͏ B͏iscui͏ts and Bon͏n Bakery

June 14, 2024

Bonn Group,͏͏ a͏ p͏rom͏ine͏nt FMC͏G fo͏o͏d ͏compa͏n͏y ͏i͏n ͏Ind͏ia, h͏a͏s a͏pp͏o͏int͏ed Bollywood͏ actor K͏a͏tri͏na Kaif͏ as͏͏ t͏he br͏and ͏ambassa͏dor f͏͏or both Bonn͏ Br͏͏e͏ads & Ba͏ke͏ry ͏͏a͏nd͏ Americana Biscuits. Ka͏trina͏’s genuine c͏harm͏, ve͏͏rsa͏͏til͏ity, ͏and br͏o͏ad ͏app͏eal pe͏r͏fectl͏y͏ align wit͏h Bonn’͏s͏ d͏edic͏ation to ex͏cellenc͏e and qu͏a͏lity͏͏ in ͏ever͏y ͏product. Her e͏n͏dor͏se͏m͏en͏͏t ͏is͏ ͏a͏nt͏icip͏ated to en͏hance t͏he brand’s image͏ and re͏ach, attracting a young͏e͏r a͏nd ͏mor͏e div͏erse demographi͏c.

Co͏mprehensive Ma͏r͏keting Campaign͏

͏Bonn͏ is a l͏eading ͏pla͏yer͏ in sev͏eral ͏food cat͏e͏gories͏,͏ ͏i͏n͏cl͏u͏ding br͏ead,͏ biscu͏its, c͏ak͏͏es, and c͏ookies. Americana Bi͏scuits, o͏ne o͏f ͏the G͏rou͏p’s͏ fas͏test-growing brands,͏ is poise͏d f͏or a͏ggressive growth in the͏ c͏o͏mi͏ng ͏ye͏͏ars.͏ To support͏ this expansio͏n, t͏he b͏ran͏d wil͏l͏ laun͏c͏h a comprehe͏͏nsi͏ve 36͏0-de͏gree campaign f͏ea͏turing a televi͏sion com͏me͏rcial, c͏om͏͏pleme͏nt͏e͏d by͏ ͏robu͏st͏ ef͏forts͏ in͏ pri͏nt͏, outdoor, online͏, an͏d o͏n-groun͏d ac͏ti͏vat͏ions.

Contin͏ue Exploring: Bon͏n Group͏’s͏ La Ameri͏cana Go͏u͏rmet unveils Cle͏an Label bread & bakery range

Stra͏tegic Endorsement͏

Th͏is ͏strateg͏i͏c endo͏rseme͏n͏t represe͏͏nts a st͏rong͏ ͏allian͏͏c͏e͏ ͏betwe͏en ͏t͏͏wo en͏tities wit͏͏h r͏e͏marka͏ble legac͏ie͏s. Ove͏r the pa͏s͏t 3͏9 ye͏a͏r͏s, Bon͏n͏ ͏G͏͏roup h͏a͏s adeptly adapted to evo͏lving consumer͏ tren͏ds͏, ͏developi͏ng a ͏c͏͏om͏prehe͏nsive͏ p͏rod͏uct port͏fol͏i͏o t͏hat emph͏asi͏zes health,͏ taste,͏͏ an͏d con͏sistent quality. This approach has͏ ͏established Bonn as one of ͏t͏h͏e mo͏st pre͏f͏erred brands in ͏the͏ bre͏ad and͏ bi͏scuit͏͏ cat͏egory a͏cross t͏he Hindi-spea͏k͏ing re͏gions͏ ͏of͏ Indi͏a. ͏Ka͏trina͏ Kaif, ͏͏an ͏iconic figure and ro͏le m͏od͏el ͏for͏ ͏mil͏lions, exem͏plifie͏s t͏͏op͏-͏tier fitness, e͏xcept͏i͏onal perfor͏manc͏e ͏standards, and wo͏rk e͏thics͏.

͏Bon͏n Group is s͏et͏ to ͏launch a multimedia c͏a͏mpa͏ign͏ featuring Katr͏͏i͏na Kai͏f to pr͏om͏͏ote͏ Am͏͏er͏ica͏na Biscuits a͏nd ͏the ͏Bonn Bread and͏ B͏ake͏ry͏ p͏rodu͏c͏t range. T͏h͏is ͏c͏amp͏͏aign ͏hi͏ghli͏ghts ͏a dive͏r͏se͏ ͏assortment of br͏eads͏ and biscu͏its, b͏a͏ked wi͏th lo͏v͏e an͏d care to͏ ͏al͏ign with ͏the di͏etary͏ pr͏e͏fere͏nces of ͏mode͏r͏n c͏onsu͏m͏ers. ͏Bo͏nn G͏r͏͏oup offe͏rs ͏a va͏͏r͏͏ie͏ty of healthy f͏ood pro͏͏d͏uct͏s to discern͏i͏ng customers a͏cross ͏se͏veral͏ In͏͏dia͏n stat͏es a͏nd͏ ͏over 5͏5 countries on ͏t͏hre͏e͏ continen͏ts.

͏Am͏rinder Singh,͏ ͏director͏ of Bonn͏ Group, e͏xpressed ͏hi͏s exciteme͏nt͏ about͏ t͏h͏͏e strat͏egic end͏orsement, s͏͏tat͏ing, “͏Katrina Kaif’s app͏eal an͏d dedicat͏io͏n to excellenc͏e ͏p͏e͏rfectly al͏͏i͏g͏n͏͏ wit͏h Bonn’s commi͏tme͏nt t͏o ͏qua͏lity, h͏ealth, a͏nd͏ wel͏lness.͏ Her ͏credib͏ility a͏nd p͏opulari͏t͏y acr͏os͏s diverse demograp͏h͏͏ics͏͏ w͏il͏l͏ signif͏ica͏ntly ra͏ise a͏w͏areness about the im͏͏portan͏͏ce of Amer͏i͏c͏a͏na ͏͏B͏iscu͏its an͏d B͏onn͏ Bread and Bak͏ery pr͏oducts. T͏his end͏o͏rsem͏ent marks ͏th͏e ͏beg͏inning͏ o͏f an͏ ͏excit͏ing new͏ ch͏apter͏ fo͏r Bonn Group, as we co͏nt͏inue to͏ demonst͏rat͏e͏ ͏our͏ ͏unwaveri͏ng commit͏͏͏ment͏ to meeting the health needs of o͏ur consumers wi͏th͏o͏͏u͏t comp͏rom͏ising on taste.”͏
͏
“W͏e͏ are͏ thrill͏ed to ha͏ve Ka͏tri͏na Kaif͏ on board as our bran͏d͏ ͏amba͏ssa͏dor,͏”͏ ͏said͏ Dawi͏nd͏er Pal, head͏͏ of ͏mar͏keting a͏t Bo͏n͏n Group. “͏We an͏ti͏cipate͏ ͏aggressive r͏evenue growth͏ over th͏e͏ nex͏t two years͏͏ with her ͏e͏nd͏orse͏ment. Katrin͏a’͏͏s association w͏ill m͏ake͏ the b͏rand͏ mor͏e relatable ͏t͏o͏ our target aud͏i͏ence a͏n͏d ener͏g͏ize͏ our͏ inter͏na͏l͏͏ ͏͏team an͏d entir͏e ͏sales cha͏n͏nel. Her commit͏me͏nt to wel͏lness aligns per͏f͏ectly w͏i͏th our focu͏s ͏on del͏iverin͏g͏ quality foo͏d and͏ prioritiz͏ing our con͏s͏um͏ers’ health wi͏thout ͏comprom͏͏i͏s͏ing on ͏ta͏s͏t͏e.͏”
͏
C͏ampa͏igns f͏or Am͏ericana͏ Biscuits and Bo͏͏nn Bread wi͏ll͏ be f͏e͏atured͏ ͏across m͏u͏͏ltipl͏e pl͏at͏f͏orms͏, inc͏ludin͏g print ͏and ͏broadc͏a͏st media, digi͏tal cha͏n͏nel͏s, o͏utdoor adver͏t͏ising, a͏nd͏ ͏o͏͏n-g͏roun͏͏͏d activa͏tio͏ns.

Continue͏ Ex͏plo͏ring: Bak͏er͏y͏ startup C͏reme͏ Castle͏ se͏cur͏es INR ͏7 C͏r in se͏ed funding, ey͏e͏s͏ rapid e͏x͏pansion amidst ͏boom͏ing Indi͏an market

101 reasons you love your father, here are 10 ways to let him know

SnackTeam

June 13, 2024

This Father’s Day, let’s celebrate these remarkable men with gifts that go beyond the ordinary. From stylish wardrobe upgrades to unique merchandise, we’ve got everything to make your dad feel like the legend he is. So sit back, relax, and let the perfect gift find its way to your main man from day one.

Continue Exploring: Top 5 Smart Gadgets That Will Impress Any Tech-Savvy Dad

1. BHIDU SHIRT:

Combining subtle sophistication with comfort, this shirt is a lightweight, easy-fit button-up featuring an abstract bandhani style self-print and a solid black front panel. It’s perfect for any occasion: pair it with tailored trousers for a dressed-up look or with relaxed-fit denims for an on-the-go appeal. Show your dad how much you appreciate his style with a shirt that’s as versatile and unique as he is.

Price: INR 2,995 (Inclusive of all taxes)

2. KUNJ KURTA:

Crafted in luxe chanderi fabric, this exquisite waistcoat comes in a soothing sage green and features a woven Banaras design adorned with a resplendent gold textured pattern, adding a touch of regal allure. Cloth buttons and an intricately embroidered collar create an interplay of refined sophistication. Gift your dad the Shan Bandi and let him wear a story of elegance and tradition, celebrating his unique style and the timeless bond you share.

Price: INR 4,995 (Inclusive of all taxes)

3. SHAN BANDI:

This Father’s Day, honour your dad with the Shan Bandi, a masterpiece of timeless craftsmanship. Crafted in luxe chanderi fabric, this exquisite waistcoat comes in a soothing sage green and features a woven Banaras design adorned with a resplendent gold textured pattern, adding a touch of regal allure. Cloth buttons and an intricately embroidered collar create an interplay of refined sophistication. Gift your dad the Shan Bandi and let him wear a story of elegance and tradition, celebrating his unique style and the timeless bond you share.

Price: INR 8,995 (Inclusive of all taxes)

4. Floractive Professional Nutrition Ritual

Enriched with Vitamin E and Moringa Oil, the Floractive Hair Repair System Instant Nutrition Mask is designed to nourish and repair hair. This magical solution reduces frizz and prevents damage, bringing new life to the hair. Prolonged use offers exceptional smoothness, softness, shine, and strength while maintaining essential vitamins and nutrients for healthy hair.

Price: INR 4,000 (Inclusive of all taxes)

5. Floractive Professional Reconstruction Ritual

The Floractive Hair Repair System Reconstruction Mask is specially crafted to revitalize and replenish damaged hair. Combining vegetable protein and coconut oil, this unique reconstruction repair system reconstructs fragile hair bonds, promoting healthy and strong hair. Prolonged use provides deep hydration, exceptional softness, and a lustrous shine, ensuring hair retains essential vitamins and nutrients.

Price: INR 4,000 (Inclusive of all taxes)

6. Floractive Professional Marroco Golden Mask – 250g

Infused with Argan Oil, rich in antioxidants, Vitamin A, Omega 6 & Omega 9 Fatty Acids, the Floractive Golden Plus Mask promotes hair fiber renewal, enhances shine, improves flexibility, and protects hair during and after chemical processes. This mask provides deep hydration and promotes strong, healthy hair. Ideal for dry hair, it delivers instant hydration, softness, and luminous shine.

Price: INR 1,200 (Inclusive of all taxes)

7. Boutique Living: Heirlooms Of India 300 TC Cotton Ultra Fine White/Purple Colored Ethnic Print Double Comforter

The stories of Heritage are meant to be shared generations after generations. Heirlooms of India is for those who have experience the old world charm & found stories worth keeping close to their heart. The 270tc single pick sateen has a beautiful soft hand feel, that lasts longer. It is a very popular choice in hotel chains all over the world due to its rugged performance.

Price: INR 8,499 (Inclusive of all taxes)

Continue Exploring: India’s luxury market surges as affluent buyers propel growth

Treasure Wine Estates and Snoop Dogg team up to launch RTD cocktail range

SnackTeam

June 13, 2024

Treasure Wine Estates‘ 19 Crimes label has partnered with American rapper Snoop Dogg to introduce a new line of ready-to-drink cocktails in the US called Cali Cocktails.

The range is is reportedly influenced by Snoop Dogg’s relaxed California lifestyle.

The Flavors: Smokin Strawberry Margarita and Long Beach Lemonade

Offered in two flavors – Smokin Strawberry Margarita and Long Beach Lemonade – these cocktails have an agave wine base and a hint of carbonation.

“We’re delighted to continue our collaboration with Snoop Dogg & celebrate another hot product launch,” stated Kris Ann Brady, vice president of marketing at 19 Crimes. “19 Crimes has always challenged conventional wine culture, and we’re prepared to upend the RTD market with Snoop. “

Continue Exploring: Dr. Dre and Snoop Dogg collaborate to launch ‘Gin & Juice’ canned cocktails

“It took a while to perfect this one, but it’s right on time,” Snoop Dogg added. Since California has always been my home, it seemed only fitting that my next “Cali” creation would celebrate that California state of mind.

Cali Cocktails represents Snoop Dogg’s fifth collaboration with 19 Crimes, expanding its lineup to include Snoop Cali Red, Cali Rosé, Cali Gold and Cali Blanc wines

Cali Cocktails can now be found at retailers across the US, packaged in 335ml cans with a suggested retail price of $14.99 per four-pack.

Continue Exploring: Snoop Dogg and Hill Beverage Co partner to launch cannabis-infused ‘Do It Fluid’ beverages

India’s palm oil imports reach four-month high in May, up 11.6% month-on-month

SnackTeam

June 13, 2024

India’s palm oil imports rose 11.6% in May from the previous month to a four-month high as its discount on rival oils boosted purchases, a trade body said in a statement.

Higher palm oil purchases by India, the world’s largest importer of vegetable oil, could support benchmark Malaysian palm oil futures.

India’s palm oil imports surged to 763,300 metric tons, the highest level since January, according to the Solvent Extractors’ Association of India (SEA).

Soyoil imports dropped approximately 16% to 324,016 tons, while sunflower oil imports surged 75% to 410,727 tons, bringing total vegetable oil imports to 1.5 million tons, an increase of 16%, the SEA reported.

Continue Exploring: Farmley champions healthy snacking with transition to 100% palm oil-free products

Factors Affecting Soyoil and Sunflower Oil Prices

Soyoil prices have surged recently due to supply disruptions in leading producers Argentina and Brazil, while sunflower oil prices have increased due to declining supplies from the Black Sea region, according to B.V. Mehta, executive director of the SEA.

He noted that palm oil prices remained largely stable, making it an attractive option for Indian buyers.

According to the SEA, last month in India, crude palm oil was offered at approximately $951 per metric ton, including cost, insurance, and freight, while soyoil and sunflower oil were offered at around $1,000 and $987 per ton, respectively.

“As the discount on palm oil widens, it becomes increasingly attractive to Indian buyers. In June, India could purchase more than 750,000 tons,” said a Mumbai-based dealer with a global trading firm.

He noted that soyoil imports could drop below 300,000 tons in June due to prices rising by over $60 per ton in the past two weeks.

India primarily imports palm oil from Indonesia, Malaysia, and Thailand, while it sources soyoil and sunflower oil from Argentina, Brazil, Russia, and Ukraine.

Continue Exploring: India’s palm oil imports skyrocket by over 34% in April, driven by global price dip

D2C brand Osh expands presence to Mumbai, Delhi, and Hyderabad, anticipates 5X growth in sales

SnackTeam

June 13, 2024

Osh, a leading D2C brand known for its environmentally conscious products, has expanded its online presence to include Mumbai, Delhi and Hyderabad in addition to its base in Bangalore. Recognized for its commitment to provide safe and effective home care solutions it now offers same day delivery services to meet the demand for its 99% natural and plant-based products across several cities.

Continue Exploring: Amazon sees remarkable growth in home, kitchen, and outdoors categories in Dehradun and Uttarakhand; new customer base surges by 10%

Market Growth and Potential:

This move marks a major achievement for the brand as it anticipates substantial 5X growth in sales within the coming six months. Mumbai, in particular, has shown promising capability as a market, with post-expansion data revealing that 20% of orders are actually originating from this city.

The market research data shows a positive outlook for home care products in India, where the household cleaners segment is currently valued at INR 48,000 crore and is expected to grow at a compound annual growth rate (CAGR) of 19 .6% over the next five years. As part of The Organic World product line, Osh is well positioned to capitalize on this growth. Headquartered in Bengaluru, The Organic World is India’s leading organic and organic food retailer recognized as key Responsible Retailer in the nation.

Gaurav Manchanda, Founder and Managing Director of The Organic World, stated, “We are delighted to introduce Osh Homecare Solutions to new cities, meeting the rising demand for natural, plant-based products. Our e-commerce expansion underscores our commitment to delivering accessible, sustainable solutions to households across India. This online initiative is a key part of Osh Homecare Solutions’ growth strategy, aiming to increase its online presence by 15% through expanded operations in metropolitan cities, positioning us for significant growth.”

Continue Exploring: Sustainable homeware brand Ellementry secures funding from She Capital to drive innovation and expansion

In an effort to expand its product range, Osh has launched the new Osh 2-in-1 Bathroom Cleaner, designed to clean tile, granite and metal surfaces. This new addition complements Osh’s current offering of laundry detergent, laundry detergent, floor cleaner, toilet cleaner, dishwasher liquid, and multipurpose kitchen cleaner.

Osh Homecare Solutions is distinguished by its carefully crafted products made from 99% natural and botanical ingredients, certified non-toxic Embracing vegan and cruelty-free standards, the range features IFRA-compliant fragrances that are not hypoallergenic. Osh is committed to a plastic-negative approach, recycling twice the amount of plastic used. Its products are widely accessible through The Organic World’s omnichannel retail network, which spans 17 physical stores, more than 50 multi-brand retailers, and leading online platforms such as Amazon, BigBasket and Flipkart

Swiggy Instamart launches ‘Handpicked’ collection featuring fresh local delights and gourmet treats

SnackTeam

June 13, 2024

India’s leading quick commerce platform, Swiggy Instamart has introduced “Handpicked,” a carefully curated selection of fresh, high-quality products. This new addition aims to provide constumers a range of items known for their quality, taste, and authenticity. Consumers can find this new addition at the bottom right corner of the Swiggy Instamart app, featuring specific labels across curated products.

Continue Exploring: Swiggy’s revenue from food delivery, Instamart reaches INR 7,800 Cr in FY24

Diverse Range of Products

The collection features local, regional, and select new-age brands, as well as clean-label products, freshly prepared items, as well as gourmet options. This selection appeals to consumers seeking alternatives to mass-produced goods, with a focus on small-batch and healthier options.

The “Handpicked” category features a diverse selection, including locally sourced products such as handmade paneer and freshly baked breads and cakes from renowned brands like Iyengar’s. It also offers elusive items like sourdough bread from Brik Oven. The assortment extends to homemade treats like laddoos and chikki made with premium ingredients, distinctive batters such as Adai and Pesarattu, and authentic global cuisine ingredients like spices and sauces from ORIKA and Masterchow. Furthermore, the fruit and vegetable offerings highlight locally harvested seasonal produce.

“Choosing a conscious lifestyle by embracing clean, small-batch, and authentic products is increasingly becoming a trend in Indian households,” said Phani Kishan, CEO of Swiggy Instamart. “Access and availability, however, frequently present difficulties. Consumers are actively looking for such offerings, particularly those who are worried about the welfare of their children. Handpicked features products that have been carefully chosen for their outstanding quality, distinct flavour, and compelling story. In order to ensure that products are rigorously evaluated and that they meet quality and consistency standards before being awarded the Handpicked label on Instamart, we work closely with local partners. In their respective markets, these products are unique, authentic, and state-of-the-art. The arrival of on-demand delivery, with its amazing 10-minute guarantee, is the icing on the cake.”

Currently available in Bengaluru, the new feature will soon extend its reach to Delhi and Mumbai.

Continue Exploring: Swiggy merges Swiggy Mall with Instamart to expand quick commerce offerings beyond groceries

Beauty and fashion retailer Nykaa may grow at 20% CAGR till FY27: Jefferies

SnackTeam

June 13, 2024

Beauty and fashion retailer Nykaa is expected to post a compound annual growth rate (CAGR) of about 20% from FY24 to FY27, brokerage firm Jefferies said.

This growth rate is considered a baseline case, where the upside scenario implies about 25% growth and the downstream scenario estimates about 15% growth over the same period.

Segment-wise Growth Insights

In terms of base, Nykaa will grow incrementally as its customer base grows, according to Jefferies. The brokerage also said that the gross merchandise value (GMV) for the beauty and personal care (BPC) and luxury apparel categories is expected to grow at a CAGR of about 25%.

In FY24, Nykaa’s BPC segment experienced a 25% growth in GMV, reaching INR 8,340 crore, while the fashion segment grew by 27%, hitting INR 3,269 crore. The ‘others’ segment, which includes the business-to-business (B2B) arm Superstore and the media arm LBB, saw a 59% increase, totaling INR 835 crore.

Approximately one-third of Nykaa’s product lineup consists of makeup products, another third comprises skincare items, and the final third includes various other items, Nykaa’s senior management stated during a roadshow in the US, as quoted by Jefferies.

Continue Exploring: Nykaa to reappoint Pradeep Parameswaran and Seshashayee Sridhara as independent directors for second consecutive term

Market Presence and Expansion: Online and Offline

Nykaa holds about 35% of the Indian online BPC market and is expanding offline as well. Typically, its stores become profitable on an EBITDA (earnings before interest, taxes, depreciation, and amortization) basis within a year of opening and recover their initial investment within three years.

In its latest earnings call on May 22, the firm announced its expansion into Gulf Cooperation Council countries, including the United Arab Emirates and Saudi Arabia, via its website in January. Additionally, it opened its first physical store in Dubai in March.

“Recently, there has been a surge in interest from global brand partners. With India’s strong consumption story and the over-dependence on China, brands have accelerated their plans for entering the Indian market. Nykaa has experienced numerous new brand sign-ups in the last few quarters,” the note added.

In FY24, Nykaa, which features global brands, saw a GMV growth of 31% at its Global store, while the luxury vertical witnessed a massive 68% growth

In a separate note, brokerage Morgan Stanley revealed that Nykaa’s own brand in the BPC segment has shown significant growth and could contribute 15-20% of GMV at its peak (13.1% in FY24).

Continue Exploring: Beauty retailer Nykaa overhauls operations: Merges LBB with Nykaa Fashion in strategic restructuring

According to the Morgan Stanley note, Nykaa executives said Indian beauty brands are highly competitive, relying on steep discounts, which impacts profitability and marketing costs.

“The management emphasised that quick commerce is currently gaining market share from Kirana stores and may not have as extensive an inventory or assortment, especially when compared to long-tail inventory seen in the BPC category. Specialised platforms such as Nykaa, which focus on customer education, will remain important, and the company is actively working to reduce delivery times, according to the Morgan Stanley note.

Zepto plans to raise $650 Million, targeting $3.5 Billion valuation

SnackTeam

June 13, 2024

Kaivalya Vohra & Aadit Palicha - Co-Founders of Zepto

As competition in quick commerce space heats up, Zepto is looking to raise $650 million from new and existing investors.

The funding will be led by existing backer Nexus Venture Partners and its limited partner StepStone Group, according to news agency IANS. The round is expected to raise the startup’s valuation to $3.5 billion from a previous valuation of $1.4 billion.

Meanwhile, MoneyControl reports that the two investors plan to make the bulk of the capital investment in the fund, making it Nexus’ largest investment to date. According to sources quoted in the report, the round will also include existing investor Glade Brook Capital, as well as new investors Avenir Growth, Lightspeed Venture Partners, DST Global and Avra.

This follows another report that DST Global and Lightspeed Venture Partners are expected to fund Zepto’s round with the round expected to be around $300 million.

Continue Exploring: DST Global and Lightspeed Venture Partners likely to join Zepto’s financing round, valuing it at about $3 Billion

In its Series E round, Zepto raised $31. 25 million from investors including Goodwater Capital and Nexus Venture Partners, bringing the total of the round to $231. 5 million. This funding, which made the startup a unicorn, also included StepStone, Nexus, Lachy Groom, and others.

Zepto’s Growth Trajectory and Financial Performance

Zepto was founded in 2021 by Aadit Palicha and Kaivalya Vohra and has grown rapidly in response to rising demand for quick 10-minute deliveries. The startup’s revenue increased 14.3 times to INR 2,024.3 crore in FY23, up from INR 140.7 crore the previous fiscal year. In FY23, net loss increased 3.35 times year on year to INR 1,272.4 crore.

Though Zepto is yet to release FY24 figures, the company has previously said it wants to generate positive EBITDA and is committed to this target.

Continue Exploring: Zepto gains ground in quick-commerce market as Instamart slips

Earlier this year, reports suggested that Zepto was considering a move into India with the aim of becoming a publicly listed company by 2026.

In the new quick commerce space, Zepto competes with other players like Blinkit, Swiggy Instamart, BigBasket and others.

Meanwhile, anticipation mounts for heightened competition in the sector with Flipkart and Reliance’s JioMart poised to enter the fray. Additionally, recent reports suggest that Zomato is planning to inject INR 300 crore into Blinkit.

Continue Exploring: Reliance Industries set to disrupt quick commerce market with JioMart’s entry, challenging Blinkit, Zepto, and others

RENÉE Cosmetics to secure INR 100 Cr funding from existing investors

SnackTeam

June 13, 2024

Aashka Goradia Goble, Ashutosh Valani and Priyank Shah, Co-Founders, RENÉE Cosmetics

RENÉE͏ ͏Cosme͏t͏ics,͏ a di͏rect-͏to͏-͏con͏s͏umer͏ beauty brand,͏ is aiming to͏ raise a fresh ͏fu͏nding of INR 100 Cr (about $͏11.9 Mn) from ex͏isting investors

The com͏pany’s c͏urrent backers include Evo͏lvance India,͏ Edelwe͏iss Group and 100Uni͏corns.

The development was͏ first re͏ported by Entracker.
͏
Continue Exploring: Mars Cosmetics eyes͏ doubl͏ing revenue this fi͏s͏cal year, targets INR 40͏0 Cr͏ore miles͏tone

Funding Histor͏y

In 2022, RENEE raised $͏25 mil͏lion in its Series B funding ͏led by Evo͏lvanc͏e Ind͏ia with contributions from Edelwei͏ss G͏ro͏up, Equanimity an͏d 1͏00Unicorns

In the same year,͏ i͏t r͏a͏is͏ed $10 mi͏llion in Seri͏es A f͏unding,͏ led by Ana͏nth Narayanan’s D2C roll-up u͏nicorn͏ Mensa Brand͏s, with͏ participat͏ion fro͏m Equan͏imity ͏and 100Unicorns͏.

Renee has r͏aised $38 m͏il͏lion in͏ t͏otal so ͏far, ac͏co͏rd͏ing to Cru͏nchbase.

L͏aunched in 2018 ͏b͏y ͏Aashka ͏G͏oradia Goble and Be͏ardo co͏-found͏e͏r͏s Ashutosh ͏Valani ͏and ͏Pri͏yank ͏Shah, Reni ͏is an Indian cosmetics bran͏d that speci͏alizes ͏in a ra͏nge of ͏pro͏ducts i͏nclu͏ding͏ ͏eyeshado͏ws͏, lip colou͏rs, skin serums and highli͏ghte͏rs.

The startup distributes its products throug͏h o͏nli͏ne͏ platforms͏, p͏hysica͏l stores͏ and qu͏ic͏k com͏merce apps. ͏I͏n retail, it operate͏s over 650 point-͏of-sa͏l͏e outlets across͏ India.

It ͏competes with bran͏ds͏ like S͏ugar Cosmetics, MyGlamm, Tira, a͏nd others͏ in the͏ ͏be͏auty͏ segment.

I͏ndustry Tr͏e͏nds͏ an͏d Futur͏e͏ Outl͏ook

This ͏comes at͏ ͏a ͏time when ͏there is n͏otable investor intere͏st in startup͏s operatin͏g in the͏ beauty and ͏p͏erson͏al care sect͏o͏r.

Earl͏i͏er this͏ mont͏h, the ͏ski͏ncare solutio͏n startup ͏C͏HOS͏EN by Derma͏tology r͏aised $1.2 million in ͏see͏d fund͏ing from ͏friends an͏d f͏ami͏ly.

Continue Explo͏ri͏ng:͏ Skincare s͏tart͏up CH͏OS͏EN secures $1.2M seed fu͏nding͏, eyes ͏expansion into B͏2B sector

Last͏ ͏year,͏ C͏le͏nsta, a D2C b͏e͏auty and͏ pers͏ona͏l ca͏re startup, raised INR 75 cror͏e in f͏und͏ing͏ led by TradeCred.

Furthermor͏e͏, the ͏beauty and personal ͏care mar͏ket is expecte͏d to grow͏ at a͏ compound͏ annual growth r͏ate (CAGR) of 28%, f͏rom $5 bi͏llion in 2023 to $28 billion by 2͏030͏, pre͏senting ͏a sizab͏l͏e business ͏opp͏ort͏unity.
͏
C͏ontinue Ex͏plo͏ring: ͏Kylie Jenner’s Kylie Cosmetics ͏launc͏hes in India in coll͏aborati͏on wi͏th Hou͏s͏e of Beauty

Bakery startup Creme Castle secures INR 7 Cr in seed funding, eyes rapid expansion amidst booming Indian market

SnackTeam

June 13, 2024

Pranjay Mittal, Founder & CEO, Creme Castle

Creme Castle, a burgeoning bakery venture, has secured INR 7 crore in seed funding from V3 Ventures. This investment is spearheaded by venture capitalist Arjun Vaidya, along with participation from Amit Jain, CEO and co-founder of CarDekho, and Indian Silicon Ventures.

Market Growth and Opportunity in the Indian Bakery Sector

Citing data from CRISIL, the company stated that the Indian bakery market is expected to grow at a rate of 11-12% annually between 2024 and 2028, reaching sales of INR 1,850 billion by FY2028. “India is spending more on festivities, and demand in tier 2 and tier 3 cities has increased as a result of social media,” the statement said.

Pranjay Mittal, chief executive of Creme Castle, said, “Consumers are increasingly embracing celebrations, reflecting a growing enthusiasm for marking special occasions. This trend is one of the reasons our investors believe Crème Castle will be among the top three players in the specialised bakery space by 2026.”

Established in 2013, Creme Castle currently delivers across more than 20 pin codes and aims to rapidly expand into 15 new markets by FY2025. Over half of the brand’s revenue comes from its own platform, with the remainder generated through aggregators Zomato and Swiggy.

Continue Exploring: The Cinnamon Kitchen’s INR 60 Lakh ‘Shark Tank’ deal marks a sweet success for the bakery

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