Prices of home-cooked meals continued their upward trend for the second consecutive month in May, propelled by the costs of potatoes, onions, and tomatoes, according to a report by Crisil. Vegetarian thali prices rose 8% from a year earlier to INR 27.80 in May. Sequentially, the increase was 1%.
The inflation rate for vegetarian thalis stood at 7.9% in April.
Crisil stated that reduced onion arrivals due to a notable decrease in rabi acreage, along with a decline in potato arrivals caused by late blight and crop damage in West Bengal, were factors contributing to the price hike.
Upward Trend in Other Essential Ingredients
In May, onion prices surged by 43% compared to last year, while potatoes saw a 41% increase and tomatoes became 39% costlier. Additionally, other essentials such as vegetables, rice, and pulses showed an upward trend. Rice, constituting 13% of the thali’s weight, experienced a 13% price hike, while pulses rose by 21%. The inflation was also influenced by spices. However, the prices of cumin, chilli, and vegetable oil dropped by 37%, 25%, and 8% respectively, mitigating a further rise in the cost of the vegetable thali, according to Crisil.
Meanwhile, the price of the non-vegetarian thali dropped by 7% compared to last year, attributed to a 16% decrease in broiler prices from the previous year. Retail food inflation rose to 8.7% in April, up from 8.5% in the previous month.
Haldiram’s, the renowned restaurant chain, has inaugurated a new branch in Rajasthan. Situated within Bhiwadi’s Legend Centra Mall, this latest addition covers an impressive area of 8,000 square feet.
“Great news for all Bhiwadi food lovers! Haldiram’s, a prominent figure in Indian gastronomy, has relocated its outlet to the dynamic and contemporary Legend Centra. Taarun V Jain, Managing Director of Legend Malls, expressed that this fresh venue guarantees an exceptional dining journey, crafted especially for the next generation.”
Earlier, the company launched a train-themed restaurant at the Pune Railway Station.
Established by Ganga Bishan Agarwal in Bikaner, Rajasthan, in 1937, Haldiram’s has expanded its reach significantly. Presently, it boasts a vast network comprising 100 carrying and forwarding agents and 1000 distributors across India. Haldiram’s diverse range of snacks, sweets, and meals can now be found in over 7 million outlets nationwide.
The newly formed entity, ITC Hotels, will have a strong debt-free balance sheet which will help it raise capital of its own through equity and debt after the proposed demerger of the hotels business, ITC Ltd Chairman and Managing Director Sanjiv Puri said.
Addressing the shareholders meeting of ITC Ltd, convened to obtain necessary approval for the proposed demerger of the diversified conglomerate’s hotels business into ITC Hotels, Puri stated that the new entity would possess a net worth of approximately INR 10,000 crore. Currently, ITC Hotels operates as a wholly-owned subsidiary of ITC Ltd.
Puri emphasized, “With a robust debt-free balance sheet and a net worth nearing INR 10,000 crore, ITC Hotels will be well-positioned to tap into the debt and equity markets for capital should the need arise in the future.”
Puri said, “The goal of the proposed demerger is to give present shareholders access to the full potential of ITC’s hotel sector. This will be accomplished by means of an impartial, market-driven assessment of ITC Hotels, providing shareholders with the choice and flexibility to hold onto their investment in a concentrated, publicly traded hospitality company. Additionally, the organisations’ cross-synergies will guarantee that ITC’s stockholders continue to get value creation.”
Listing and Trading of ITC Hotels Equity
As per the scheme, all equity shares of ITC Hotels will be listed and/or admitted for trading on both the NSE and BSE.
On August 14, the board of directors of the company, known for its diverse range from cigarettes to soap, gave the green light to the proposed demerger of the hotel business into an independent entity.
ITC shareholders on Thursday approved the conglomerate’s plan to carve out its hotels business with a significant majority. According to a stock exchange filing, around 99.6 per cent of the votes were in favour of the demerger resolution.
Puri emphasized, “ITC Hotels will persist in harnessing numerous institutional advantages of ITC, encompassing its esteemed corporate brand, internationally recognized sustainability achievements, skilled workforce, digital prowess, and robust governance systems. Additionally, ITC Ltd will extend enduring stability and strategic backing to ITC Hotels, fostering confidence among stakeholders, including business partners and employees. We are confident that this approach will lay a solid groundwork for accelerated growth.”
The hotels business encompasses more than 135 properties spanning across 80 locations under various brands, including ITC Hotels, Mementos, WelcomHotels, Storii, Fortune, and WelcomHeritage, with a total of over 12,500 keys. Over the past 24 months, it has expanded its portfolio by incorporating 24 new properties.
On Thursday, the ITC Ltd stock concluded the trading day at INR 435.80 per share on the BSE, marking a 1.28 percent increase from the previous day’s closing price.
Lifelong Online, a prominent Indian e-commerce brand specializing in consumer goods, has expanded its horizons into the thriving baby care sector by introducing a fresh category of baby products. With a vision to redefine contemporary parenting, the company is committed to offering cutting-edge and secure solutions. This innovative range encompasses wearable breast pumps, strollers, bottle warmers, collapsible baby bathtubs, anti-slip baby bathers, and baby car seats. Crafted with advanced technology, these products are tailored to elevate convenience and offer reassurance to modern-day parents, prioritizing the safety and welfare of their little ones.
The flagship item within this fresh category is Lifelong’s wearable breast pump tailored for nursing mothers. This hands-free, BPA-free, rechargeable pump boasts an innovative design equipped with three modes and ten levels, complemented by a one-year warranty. It enables both working and stay-at-home mothers to uphold their vibrant routines while ensuring optimal nutrition for their babies. Lifelong’s wearable breast pump not only facilitates convenience but also fosters a profound and nurturing connection between mothers and their infants.
Abhishek Agarwal, the Category Manager at Lifelong Online Retail Pvt. Ltd, expressed, “With the launch of our new baby category, Lifelong Online is set to transform India’s quickly growing baby care sector by bringing cutting-edge solutions that will transform the parental experience. The baby care market in India is witnessing notable growth, driven by factors like a burgeoning population, increased disposable incomes, and heightened awareness of baby care among young parents. This presents significant opportunities for businesses operating in the baby care sector. We recognize the paramount importance of innovation and safety in every facet of parenthood. This underscores our dedication to delivering groundbreaking products that streamline parental responsibilities while placing utmost emphasis on the safety and welfare of their precious little ones.”
Product Lineup and Pricing:
The complete product lineup is accessible on Amazon, featuring prices spanning from INR 1500 to INR 11000. This assortment encompasses wearable breast pumps, strollers, bottle warmers, collapsible baby bathtubs, anti-slip baby bathers, baby car seats, and potty seats.
The Lifelong Booster Car Seat, tailored for children aged 3 to 12 years, is lightweight, incorporates a backless belt-positioning design, and boasts machine-washable fabric, adhering to safety standard ECER44/04. For children aged 9 months to 12 years, the Lifelong ISOFIX Car Seat, ECE certified, features an adjustable headrest, plush cushioning for comfort, and a 5-point harness with a magnetic buckle for enhanced safety. Alternatively, the Lifelong Car Seat, suitable for babies aged 0 to 7 years and also ECE certified, offers three recline positions, plush cushions, and a 5-point harness with a magnetic buckle, available in pink and grey options.
Lifelong provides options for potty training, including a potty seat suitable for kids aged 1 to 6 years, and a 3-in-1 baby potty training seat equipped with a cushioned toilet seat and a non-slip stepper for enhanced safety. Moreover, Lifelong’s strollers are meticulously crafted for optimal comfort and safety, boasting shock-absorbing suspension and sturdy yet lightweight frames, guaranteeing seamless rides and delightful outings for both parents and babies.
Furthermore, the collapsible baby bathtubs and anti-slip baby bathers are equipped with advanced functionalities like temperature sensors, cozy cushioning, and reliable grips, ensuring a secure and enjoyable bathing session for infants.
The Face Shop, a global leader in Korean beauty, has launched its ‘mini collection’ in India. This new range features compact versions of their most popular products, perfect for those on the go. With prices starting at INR 365, the collection is affordable and appeals to those who wish to sample products before committing to full-sized versions.
Designed for convenience, these compact essentials fit effortlessly into carry-on luggage, beach totes, or portable vanity bags, making them ideal for college students, office professionals, and avid travelers. Despite their small size, these potent minis provide comprehensive skincare benefits.
A standout favorite in The Face Shop’s mini collection is the Rice and Ceramide Emulsion, endorsed by youth icon Khushi Kapoor. Known for its moisturizing, brightening, and skin texture-refining properties, it is suitable for all skin types. Another highlight is the Chia B12 Hydro Cream, which deeply hydrates and locks in moisture, imparting a natural glow, making it an ideal summer skincare staple.
Brightening and Revitalizing Formulas:
Furthermore, the White Seed Brightening Serum, which is enhanced with White Lupine Seeds, revitalises the skin and improves its brightness. Even in dry weather, the accompanying brightening lotion leaves the complexion dewy.
Anti-Aging Solutions:
For those seeking anti-aging benefits, the Pomegranate & Collagen Volume Lifting Serum and Cream provide a powerful solution. This duo revitalizes and firms the skin, effectively combating signs of aging.
Rounding out the mini-range are popular picks like the Rice Water Bright Light Cleansing Oil, which effectively removes impurities and heavy makeup with its lightweight, watery texture. Also included is the Herb Day 365 Foaming Cleanser, featuring lemon and grapefruit extracts for a thorough cleanse. This cleanser is an excellent choice for a double-cleansing routine to achieve clear, radiant skin.
Hindustan Unilever Limited (HUL) announced that Arun Neelakantan, currently serving as the chief digital officer, will assume the role of executive director, customer development, starting July 1st, 2024. He will succeed Kedar Lele, who is stepping down to explore new external opportunities.
Neelakantan embarked on his journey with HUL as a Key Account Manager in Modern Trade back in 2006, following the completion of his Bachelor’s Degree from IIT Madras, followed by a Master’s from Penn State University, and subsequently an MBA from the Indian School of Business (ISB). Throughout his tenure, he has demonstrated exceptional performance, spearheading significant teams and driving transformative initiatives in customer development and marketing across various sectors including general trade, modern trade, customer marketing, and brand building.
“Within the organisation, Arun has excelled in a number of capacities. His profound comprehension of the customer development landscape in the country, along with his foresight into future channels and proficiency in data and technology, positions him to elevate HUL’s Customer Development and Sales to unprecedented levels,” stated Rohit Jawa, CEO and Managing Director of HUL.
As the regional manager overseeing the company’s largest branch in Chennai, he consistently delivered market-leading growth. His leadership facilitated the South region in introducing numerous groundbreaking initiatives, supported by profound consumer insights and exemplary market execution. He played a pivotal role in driving HUL’s digital transformation program across consumer, customer, and operational domains, enhancing data and digital capabilities for category and eCommerce teams, according to the company.
“It was Kedar who led HUL’s entry into eCommerce. Under his guidance, our innovative eB2B app, Shikhar, experienced significant expansion, now reaching over a million retailers nationwide. I extend my gratitude to him for the enduring contributions he has made to HUL during his two-decade journey with us,” remarked Jawa.
Borosil, a well-known consumer goods company in India, has achieved a remarkable feat with Larah Opalware by Borosil, securing the top spot as India’s leading brand in the opalware category, according to the latest sales report of 2024.
With a significant 37 percent increase in sales, Larah Opalware has surpassed its rivals, making a substantial contribution to Borosil’s overall revenue, which has now reached an impressive INR 942.3 crores.
Shreevar Kheruka, the Managing Director of Borosil Ltd., expressed appreciation for the brand’s success, stating, “We extend heartfelt gratitude to our customers for making Larah by Borosil the number one opalware brand in the country. We are dedicated to delivering the highest quality products, contemporary designs, and exceptional service to our customers.”
Role of Rebranding: Strategic Pivot in Borosil’s Success
The recent rebranding and repositioning of the brand have played a crucial role in this accomplishment. With a focus on empowering contemporary Indian women who are adept at multitasking and strive for excellence in every aspect of life, this strategic pivot has deeply connected with its target demographic, reinforcing its status as a market leader.
Looking ahead, Borosil aims to sustain its momentum by enriching its product range and broadening its market presence. With a commitment to establishing fresh industry benchmarks, the brand is ready to elevate its position further and cater to the evolving demands of its discerning clientele.
When you think of rum, do you imagine sipping it by a roaring fire on a cold winter’s night? Lalit Kalani, founder of Rock Paper Rum under Good Barrel Distillery, is here to challenge that notion and expand your rum repertoire to all seasons.
Kalani’s journey into the rum world began when he launched Rock Paper Rum in October 2022. Having spent significant time in the US, he noticed a wave of craft liquors, particularly gin, making inroads and resonating with consumers. Upon returning to India in 2020, he observed a similar trend. “When I moved back, I saw this whole wave of craft liquors and Indian craft liquors happening, especially through the gin revolution,” Kalani explains. This observation laid the groundwork for his foray into the alcohol industry, a sector his family had been involved in years before.
A common misconception in India is that rum is a winter drink. Kalani is quick to debunk this. “It’s a myth that it should only be consumed in the colder seasons. If you think about where rum really originated, like the Caribbean Islands, they’re all tropical areas. There’s nothing about seasonality where that comes from,” he asserts. This belief, deeply ingrained in Indian culture, needs re-education, and Kalani is committed to this change.
Kalani points out that many popular cocktails, enjoyed year-round, are rum-based. “When you ask people what cocktails they like, they say Pina Colada or Mojito. Those are all rum-based cocktails that have existed, and they don’t even know that they’re drinking rums right now on the beach or at a boat,” he notes. This highlights the versatility of rum and its suitability for any season, not just the colder months.
The Indian rum market
The rum market in India is substantial, worth around 15,000 to 17,000 crore rupees ($2 billion). It’s the second largest category after whiskey, significantly larger than the gin category. This presents a huge opportunity for premiumization. “Rum is going through its revolution in the Western world. We were hoping that would come to India as well. Rum became a very exciting opportunity,” Kalani shares.
Rock Paper Rum aims to tap into this mid-premium segment, offering great value without veering into ultra-premium or mass segments. This strategy is designed to appeal to a broad range of consumers looking for quality products at an affordable price.
Kalani is optimistic about the future of rum in India. “Seasonality does have a big impact, but the myth that rum is only for winter is slowly being busted. The industry is growing, and more startups within the rum category will help change this perception over time,” he believes. The trend of flavored rums, such as lemon, coconut, and coffee, is also contributing to rum’s year-round appeal. “We launched flavored rums that are very much summer alcohols, which help sustain growth even during the off-peak season,” Kalani adds.
The journey for Rock Paper Rum is just beginning. The first financial year saw significant success, with sales of around 5 crore rupees primarily in Maharashtra. The focus now is to significantly increase revenue by 4X within the new financial year on expanding to new markets like Goa, Haryana, Puducherry and parts of the Northeast, while maintaining a steady and sustainable growth strategy.
“We are excited for the monsoon to come because we’ve taken the last six months to really set up. We built that foundation, and now we’re ready to expand,” says Kalani. The plan is to ensure each market is well-penetrated before moving on to the next, aiming for long-term brand building over quick wins.
Kalani’s vision for Rock Paper Rum is clear: “Our strategy has always been to go into a few markets, make sure it’s doing well before expanding further. Building a brand takes time, and that’s what we’re focused on.”
As Rock Paper Rum continues to grow, one thing is certain—rum is not just a winter drink. It’s a versatile spirit meant to be enjoyed all year round, breaking free from seasonal constraints and finding a place in your glass any time you choose.
Following a lackluster May, attributed to the general election and heatwaves, there’s now a surge in bookings at prominent hotels in the national capital. This uptick coincides with heightened political activity, characterized by the movement of key ministers and newly elected MPs gearing up for the forthcoming swearing-in ceremony of the new government.
Projections and Trends:
Hoteliers anticipate a further increase in bookings in the upcoming weeks, as corporates are also gearing up to schedule trips following the allocation of ministries.
“Since Wednesday, we’ve experienced a significant surge in bookings due to our prime location in the heart of the city,” stated Tarun Thakral, Chief Operating Officer of Le Meridien hotel, highlighting its proximity to central Delhi, near the Parliament and government ministries. “Bookings have been driven by the upcoming swearing-in ceremony, with new MPs set to stay with us,” he added.
“At present, we’re enjoying a 70-80% occupancy rate, and with the surge in inquiries, there’s a possibility of reaching 90% by Thursday evening,” he remarked optimistically. “We anticipate this trend to persist for the next two to three weeks until ministries are allocated, with corporate groups also arriving to engage with the new ministers and key government officials,” he further elaborated.
Abhishek Sadhoo, the General Manager at Shangri-La Eros New Delhi, noted a minor decline in bookings during May compared to the usual season, attributing it to the elections, which likely prompted some travelers to defer their trips.
He mentioned, “The abnormally high temperatures had an impact on our food and beverage industry as well. Corporate gatherings, particularly those awaiting government approvals, were postponed during this time.”
“However, June appears to hold much promise for Shangri-La Eros New Delhi. The hotel’s strategic proximity to government bodies and ministries makes us well-suited to cater to the heightened political engagements. There has been a notable increase in inquiries from government officials and industry associations,” he elaborated.
Praydhumna Singh, the general manager at Taj Palace, New Delhi, anticipates a noticeable acceleration in both room bookings and corporate and diplomatic conferences and events in the coming weeks.
Vijay Bhalla, the general manager of The Lalit in New Delhi, situated in central Delhi, noted a ‘significant’ increase in reservations following the elections.
Bhalla remarked, “Although there was a slowdown in recent weeks due to the elections and the heatwave, we’re delighted to witness travel plans resuming as uncertainties diminish.”
“Events that were previously postponed are now being confirmed, leading to a surge in bookings. The overall attitude toward travel has turned more optimistic, generating increased interest compared to recent weeks. As VIPs and corporate entities gear up for visits to the capital, we anticipate this positive trend to gather momentum in the near future,” he added.
On Wednesday, the Telangana Food Safety Department raided a warehouse of Zomato-owned Blinkit in the Devar Yamjal area of the state’s Medchal Malkajgiri district.
In a post on X, the Commissioner of Food Safety for Telangana stated that a task force conducted a raid on the warehouse, discovering it to be “disorganized, unhygienic, and dusty.” The post also stated that a notice would be sent, and appropriate action would be taken against the organisation.
The department also reported seizing edible items valued at INR 82,000 from the premises, either for non-compliance with food safety regulations or due to expired licenses.
“The products manufactured by Kamakshi Foods were found to have expired licenses. Consequently, products from VSR, including Suji, Raw peanut butter, Maida, Poha, Besan, and Bajra worth INR 30K, were seized. Suspected infested Whole Farm Ragi flour and toor dal worth INR 52K were also seized, with samples sent to the lab,” the post detailed.
Furthermore, the department discovered products at the warehouse linked to Whole Farm Congruence Trade and Services that did not adhere to labeling regulations under the Food Safety and Standards Act of 2006. Notices concerning this matter will be issued accordingly, stated the department.
The authorities also observed that cosmetic products were stored alongside food items in the warehouse. Furthermore, the task force discovered that food handlers at the premises were working without proper headgear, gloves, and aprons.
The post on X also highlighted the absence of medical fitness certificates for food handlers in possession of the warehouse operators. It further noted the lack of Food Safety Training and Certification (FoSTaC) trainees present at the warehouse.
Meanwhile, Blinkit stated that it was collaborating with the department to execute corrective measures.
A Blinkit spokesperson emphasized, “We prioritize safety and hygiene standards. We are actively collaborating with our warehouse partner and the food safety department to address the issues highlighted and implement necessary corrective actions.”
For those unfamiliar, quick commerce platforms streamline deliveries through warehouses or dark stores, typically ranging from 2,500 to 3,500 square feet, strategically located near residential areas. Within these facilities, numerous handlers work on the floor, packing items before they are dispatched for delivery.
This isn’t the first instance of Blinkit facing scrutiny. In April, the Central Consumer Protection Authority (CCPA) instructed Blinkit, alongside other quick commerce players, to verify their ’10-minute’ delivery promises.
The company is also contending with a trademark infringement lawsuit filed by a Bengaluru-based company regarding the use of its name. Moreover, last month, the company faced a strike by its delivery executives, advocating for a revised pay structure. This resulted in service interruptions as numerous dark stores ceased operations, particularly in the Delhi NCR and Mumbai regions.
This comes at a time when optimism prevails among most brokerages regarding the performance of the quick commerce platform. Despite operating at a loss, Blinkit has rapidly expanded its operations and even achieved positive adjusted EBITDA in the March 2024 quarter.
Financial Performance of Blinkit
The quick commerce division generated a revenue of INR 769 Cr in the fourth quarter (Q4) of the financial year 2023-24 (FY24), compared to INR 363 Cr in the corresponding quarter of the previous year.
Meanwhile, Blinkit’s adjusted EBITDA loss continued to improve, reaching INR 37 Cr in the quarter under review, compared to INR 203 Cr in Q4 FY23.
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