Barbeque Nation Hospitality to invest INR 300 Cr for expansion over next 3 years

June 7, 2024

Barbeque Nation Hospitality is set to invest INR 300 crore to launch 100 new outlets over the next three years, according to CEO Rahul Agrawal.

The company, which operates restaurant brands such as Barbeque Nation, Toscano, and Salt, as well as delivery services like UBQ and Dum Safar, will finance the expansion through internal accruals.

“Over the next three years, we plan to open 18-20 Toscano outlets, 12-15 Salt outlets, and 50-55 Barbeque Nation outlets,” he said. “We’re going to new cities like Hyderabad, Delhi, and Mumbai with Toscano and Salt. For Barbeque Nation, 75% of the expansion will focus on metro and tier I cities, with the remaining 25% targeting tier II and tier III cities.”

International Expansion Plans

“We will also expand our international presence by increasing our outlet count from 18 to 28, achieving an 8-10 percent growth,” he added. “In addition to deepening our reach in the Middle East, we will enter new markets such as Sri Lanka.”

Continue Exploring: Barbeque Nation expands footprint with grand opening at Nexus Ahmedabad, marking fourth venture in Gujarat

Currently, the company operates 217 restaurants: 16 Toscano outlets in Bengaluru, Chennai, and Pune; 7 Salt outlets in Bengaluru and Chennai; and 194 Barbeque Nation outlets across India and in international markets such as the Middle East.

“Our ideal store size is 4,000 square feet,” he said.

Currently, the company generates 80 percent of its revenue from Barbeque Nation India, 13 percent from Toscano and Salt combined, and the remaining 7 percent from its international business.

“All our outlets are company-owned and operated, with no plans to open franchise locations. Additionally, our delivery business has grown sevenfold from FY19 to FY24,” he asserted.

In the last fiscal year, the company’s same-store sales growth was -6 percent.

“In FY 23-24, there was a significant difference between our performance in the second half (H2) compared to the first half (H1). We nearly doubled our margins in the second half of the year with the same revenue base as H1. Our P&L for H2 was profitable,” he said.

This fiscal year, the company aims to achieve positive profit after tax (PAT).

In FY 23-24, the company achieved an EBITDA margin of 18.3 percent. However, its EBITDA margins are still around 300 basis points lower, or 3-4 percentage points lower than pre-COVID levels, which were typically around 22-23 percent.

The company, which ended the last fiscal year at INR 1,250 crore, aims to achieve a compound annual growth rate (CAGR) of 15-18 percent over the next three years.

Continue Exploring: Barbeque Nation Hospitality plans aggressive expansion, targets 100 new stores in three years

Rare and Basics opens 22nd retail outlet in India with new Kochi store, expands Kerala presence to six locations

SnackTeam

June 6, 2024

Rare and Basics (R&B), a fashion brand under the umbrella of retail giant Apparel Group, announced the opening of its 22nd retail outlet in Kerala via a social media update.

Situated in Palarivattom, Kochi, this new standalone store marks the sixth addition to the brand’s presence in Kerala.

“We’re thrilled to unveil the latest addition to the Apparel Group family: R&B’s newest store in Palarivattom. This not only signifies our sixth establishment in Kerala but also our 22nd store nationwide,” Apparel Group shared in a LinkedIn post.

Continue Exploring: Apparel Group’s fashion brand R&B opens second store in Kochi, further expanding its presence

R&B outlets offer a diverse selection of Western clothing for men, women, and children.

Rare and Basics’s Journey: From Kochi to Nationwide Presence

The first R&B store in Kochi is located at Centre Square Mall, Rajaji Junction, and was launched in August 2023.

In India, the brand has established its presence in cities including Kozhikode, Kochi, Ahmedabad, Hyderabad, Bengaluru, Mangalore, and Mysore.

R&B was introduced by Apparel Group in October 2012, with its inaugural retail outlet opening at Muscat Grand Mall in Oman. The expansive retail chain now boasts over 135 stores across eight countries, encompassing a total retail area exceeding 20 lakh square feet.

R&B plans to expand its presence by opening 200 new stores across India and the Gulf Cooperation Council (GCC) region by the end of fiscal year 2025.

In the first quarter of FY25, the brand has already launched over 12 new stores across both India and GCC countries.

Continue Exploring: Apparel Group’s R&B expands footprint with new Bengaluru store, marking 18th outlet in India

UAE-based Apparel Group operates more than 2,200 retail stores and represents over 85 brands across various platforms, employing a diverse workforce of over 22,000. Among its brands are Aldo, Bath & Body Works, Tim Hortons, Tommy Hilfiger, Nine West, It Spring, Charles & Keith, Inglot, La Senza, Beverly Hills Polo Club, and Victoria’s Secret.

UNIQLO expands its global footprint: New outlets open in Italy and China, with further expansion planned in Europe

SnackTeam

June 6, 2024

UNIQLO, the Japanese fast-fashion giant, has broadened its footprint across Europe and Asia by inaugurating new outlets in Italy and China.

In April 2024, the retailer unveiled its first store in Rome, Italy, situated within the Galleria Alberto Sordi shopping arcade. Additionally, it debuted its premier city flagship store in central China, located in Wuhan.

The UNIQLO Roma Via del Corso store covers an area of 1,300m² spread across a basement and two above-ground floors, offering a display of the brand’s LifeWear collection for men, women, and children.

The Rome store offers innovative services including the RE.UNIQLO Studio for item repair and customization, as well as Italy’s first UTme!, allowing customers to personalize printed T-shirts.

Continue Exploring: UNIQLO set to open Poland’s first permanent store in autumn 2024

UNIQLO’s Italian Debut

In May 2024, UNIQLO also revealed a new Italian store located in Milan’s Piazza Gae Aulenti.

Spread across 800 square meters within a repurposed parking garage, the store showcases UNIQLO’s men’s, women’s, and children’s collections cohesively, highlighting the practical and pioneering attributes of LifeWear.

The retailer partnered with the Italian interior brand Kartell to provide modern furnishings for the Milan store.

Mark Barnatovic, the Chief Operating Officer of UNIQLO Italy, expressed, “Expanding and solidifying our brand presence in Italy follows naturally after the triumphant debut of our inaugural flagship store in Milan in 2019, and our recent expansion into Rome.”

Continue Exploring: Uniqlo appoints Bollywood star Katrina Kaif as first Indian brand ambassador

“Seeing the favorable reception in Milan thus far, it’s evident that the Italian community has warmly welcomed LifeWear. We aim to continue offering them pieces that align with our Japanese ethos of functionality, simplicity, and top-notch quality, enabling them to craft their individual style.”

UNIQLO’s Entry into China

UNIQLO’s 26th store in Wuhan’s Chuhe Hanjie Street, inaugurated on May 1st, 2024, marks a significant milestone as the first in central China to introduce the innovative UNIQLO FLOWER concept.

Additionally, it showcases the debut of central China’s first UTme! Service.

In May 2024, UNIQLO announced intentions to inaugurate its first permanent store in Poland during the autumn season.

Global tea, coffee value sales to slow until 2027: Report

SnackTeam

June 6, 2024

Global tea and coffee value sales are expected to slow down between now and 2027, as indicated by data, compared to the pace of the last few years.

According to GlobalData, the compound annual growth rate (CAGR) for the overall value sales of tea is projected to decrease from 7.8% between 2021 and 2024 to 4.8% between 2024 and 2027. This decline will culminate in reaching £58.6 billion ($72.5 billion).

During the same periods, the CAGR for coffee is expected to decrease from 5.9% to 5%, with total value sales forecasted to reach £72.5 billion in 2027.

The data is derived from 13 “key markets,” encompassing the US, Mexico, Brazil, Argentina, the UK, Germany, Sweden, China, India, Australia, Singapore, South Africa, and the UAE.

Continue Exploring: India’s coffee exports soar 12% to $1.28 Billion in 2023-24

Factors Influencing Market Trends

According to the report, GlobalData predicts a deceleration in the compound annual growth rate (CAGR) of overall value sales across most non-alcoholic beverage categories in the 13 key countries examined in this study.

“The anticipated decline in global sales is linked to consumer belt-tightening amid inflationary pressures. Projections indicate a decrease in inflation worldwide in the forthcoming years. This has prompted consumers to adopt more prudent spending habits, seeking to optimize their budgets. Alongside adjusted pricing, this trend is poised to align value growth more closely with volume growth once again.”

In the UK, tea’s sales value surged by 12.3% from 2023 to 2024, despite a 1.6% decline in volume sales. Similarly, in the US, there was value growth in both tea (7.4%) and coffee (2.9%), but volume growth lagged behind at 3.8% and 0.4%, respectively.

In the US, tea exhibited the highest volume growth among all non-alcoholic beverages surveyed by GlobalData in the past year.

Non-Alcoholic Beverage Categories Analysis

Meanwhile, juices and bottled water are poised for deceleration, with the former expected to decline from a 0.2% to a 6.9% compound annual growth rate (CAGR) between 2024 and 2027, and the latter dropping from 0.8% to 3.9%.

However, carbonates are predicted to increase their value sales compound annual growth rate (CAGR) from 2.2% to 3.4%, jumping from a global value of £192.9 billion in 2021 to £278 billion in 2027.

Continue Exploring: Indian coffee growers rejoice as robusta prices hit historic high of INR 10,080 per 50 kg bag

Gü expands into frozen desserts with delectable sundaes exclusively at Waitrose!

SnackTeam

June 6, 2024

Gü, celebrated as a premium UK dessert brand, is stepping into the frozen arena with the debut of a tantalizing new line of frozen sundaes. These indulgent delights will be exclusively available at Waitrose supermarkets beginning June 9th.

This selection, showcasing flavors like Double Salted Caramel & Mascarpone, Caramel, Chocolate & Hazelnut, and Clotted Cream & Chocolate Crunch, marks Gü’s initial expansion beyond its signature chilled dessert lineup.

“Gü is excited to unveil our latest frozen sundae range, offering new avenues for innovation,” stated Emma Heeney, Gü’s senior innovation manager. “These decadent individual treats cater to a niche within the freezer section, traditionally filled with family-sized desserts.”

Continue Exploring: McCain Foods completes acquisition of Strong Roots, strengthening position in growing market for sustainable frozen foods

Consumer Trends Driving Gü’s Expansion

Gü’s decision coincides with a strategic effort to leverage a significant 12% surge in home indulgence over the last three years. Additionally, industry data reveals that 58% of UK consumers are intending to cut down on dining-out expenses amidst economic challenges, further motivating Gü’s market expansion.

Prepared by Gü’s master pâtisserie chef, Fred Ponnavoy, the frozen sundaes will initially hit the shelves of 253 Waitrose stores across the country. Following this debut, they are slated for wider distribution in other leading UK retailers later this summer.

The frozen range, consisting of four ramekins, will be available at £6 per pack. As part of an exclusive launch promotion, the price will be reduced to £4 from June 10th to July 2nd, 2024.

Exponent, a private equity firm, holds ownership of Gü, which has carved out a niche as a premium brand in the chilled dessert sector. With sales totaling £73.3 million and an annual growth rate exceeding 4.5%, Gü continues to reinforce its market presence.

“Our goal was to craft an unparalleled indulgence with our sundaes, brimming with our renowned velvety French salted caramel,” expressed Ponnavoy. “As connoisseurs of sweet delights, we’ve fashioned frozen treats that push the boundaries of dessert. Premium ingredients guarantee exceptional flavor, while innovative textures offer an extra dimension of delight.”

Continue Exploring: Burger King sweetens its menu with new frozen cotton candy drink

Heinz expands retail offerings with debut of Black Garlic Ranch and Harissa Aioli sauces!

SnackTeam

June 6, 2024

Black Garlic Ranch and Harissa Aioli sauces

The Kraft Heinz Company is set to debut two exciting new limited-edition sauces – Black Garlic Ranch and Harissa Aioli – on retail shelves. These products are making their way from successful restaurant trials to grocery stores, marking a significant step for the consumer brand as it ventures into the foodservice channel.

Exclusively available at Walmart and Target stores across the United States, these sauces boast bold global flavors such as black garlic and harissa.

Katie Peterson, Director of Heinz Innovation at Kraft Heinz, expressed, “Witnessing the overwhelming affection for the [restaurant] drops, especially for Black Garlic Ranch and Harissa Aioli, motivated us to make these products accessible nationwide, allowing the entire country to savor them.”

Continue Exploring: Heinz and Morley’s team up to launch flavor-packed fried chicken sauce

The consumer packaged goods giant’s move is in line with its strategy to utilize its foodservice arm for testing new products with consumers before introducing them on a larger scale in retail. The company emphasized its use of real-time insights gathered from the restaurant trials to guide the nationwide rollout.

Peterson further added, “This advancement in the ‘Sauce Drops’ program highlights Heinz’s strategic commitment to consumer-centric innovation.”

Catering to Younger Consumers’ Preferences

According to Heinz’s research, younger consumers, particularly Gen Z, are showing a growing interest in globally inspired flavors and cuisines. The Black Garlic Ranch and Harissa Aioli sauces are designed to meet this demand, presenting distinct taste profiles distinct from the brand’s conventional condiments.

The Black Garlic Ranch exclusive to Walmart harmonizes the rich essence of black garlic with the smoothness of ranch dressing. Meanwhile, the Harissa Aioli exclusive to Target melds a smoky roasted red pepper blend with a spicy kick.

Continue Exploring: Kraft Heinz unveils ‘Creamy Sauces’ – The first in a new lineup of rebranded sauces, spreads, and dressings

Skincare startup CHOSEN secures $1.2M seed funding, eyes expansion into B2B sector

SnackTeam

June 6, 2024

CHOSEN, a startup specializing in skincare solutions, has secured a seed funding of $1.2 million (around INR 10 crore) from friends and family.

The newly acquired funds will be utilized by the startup to bolster its headcount across research and development as well as logistics verticals, in addition to scaling up its supply chain capabilities.

The company also seeks partnerships within the B2B sector.

This comes after the company received a $100,000 equity-free grant from Peak XV Partners as part of its third cohort of the SPARK program earlier this year.

Continue Exploring: Honasa Consumer acquires CosmoGenesis Labs to strengthen R&D and drive innovation in premium skincare solutions

Founded in 2020 by Renita Rajan, the startup offers IoT-led skincare solutions backed by dermatological expertise. Within its skincare, haircare, and wellness product categories, the company boasts 34 stock keeping units (SKUs), with 12 more in the pipeline and additional products slated for release soon. It is also in the process of developing a melanin lab and IoT-driven personalized skincare technology.

Future Plans:

Rajan, the founder of CHOSEN, said, “This seed round equips us with the flexibility to strategically broaden our operations and delve into new avenues for growth. Our immediate focus is on forging partnerships with B2B sectors like hospitality, health, travel, and leisure to enhance our distribution channels. Our aim is to secure pre-series funding of $10 to $20 million later this year.”

According to reports, the D2C market in the beauty and personal care sector is poised to reach $5.6 billion, with online shoppers estimated to exceed 122 million by 2025.

Continue Exploring: D2C skincare brand Foxtale secures $14 Million in funding led by Panthera Growth Partners

Zara’s parent company Inditex reports slowing quarterly sales growth

SnackTeam

June 6, 2024

Inditex, the parent company of Zara, saw a 7% increase in sales during the first quarter of its fiscal year, in line with analysts’ expectations.

The performance reflected a deceleration compared to the previous year, during which it had enjoyed a surge in shopping activity following the pandemic.

Continue Exploring: Fashion giant Inditex to introduce Bershka, Zara Home to Indian market this year

Market Analysis and Competitor Comparison

Inditex, the parent company of brands like Pull&Bear and Massimo Dutti, is striving to stay ahead of fierce competition from rivals like H&M by swiftly pursuing and delivering fashion trends.

In recent quarters, the company has surpassed its competitors, reaping the rewards of investments in innovative in-store and online offerings. However, it also confronts formidable competition from swiftly expanding Chinese-owned online retailers Shein and Temu.

During the three months leading up to April, the world’s largest listed fashion retailer disclosed sales of 8.15 billion euros ($8.87 billion). This figure slightly exceeded the average analyst forecast of 8.1 billion euros, as per an LSEG survey.

Net profit in the three months up to April saw an 11% rise to 1.29 billion euros ($1.40 billion), matching the 1.3 billion euro average forecast by analysts, according to the LSEG poll. Compared to the first quarter of the previous year, where the company reported a 54% rise in profits.

Inditex reported a 12% increase in sales at constant currencies from May 1 to June 3.

Continue Exploring: Zara’s parent company Inditex strengthens Lefties brand to compete with Shein

HanesBrands to sell ‘Champion’ business to Authentic Brands Group for $1.2 Billion

SnackTeam

June 6, 2024

HanesBrands, a global apparel company, has signed a definitive agreement to sell the intellectual property and certain operating assets of its global Champion business to Authentic Brands Group (“Authentic”). The deal is valued at $1.2 billion, but it could be worth up to $1.5 billion if a further $300 million in contingent cash consideration is received, subject to meeting certain performance requirements. The HanesBrands Board of Directors has unanimously approved this agreement, marking the successful conclusion of the company’s previously announced evaluation of strategic options for the global Champion business.

HanesBrands has made significant strides in recent years to revitalize its innerwear business, expand market share, attract younger consumers, and enhance its operating model. Following the completion of the transaction, the company plans to concentrate on reinforcing its leadership in the innerwear category and achieving above-market growth. This will be driven by ongoing consumer-focused product innovation and increased investment in its portfolio of leading brands, including Hanes, Bonds, Maidenform, and Bali.

Continue Exploring: Apparel Group partners with Myntra to expand Victoria’s Secret presence in India

Bill Simon, Chairman of the Board, stated, “After a comprehensive review of options for the global Champion business with our financial and legal advisors, we are pleased to have reached an agreement with Authentic Brands Group. We believe this agreement maximizes value for Champion and best positions HanesBrands for long-term success. Importantly, this transaction will enable the company to accelerate debt reduction while positioning HanesBrands to achieve consistent growth and cash flow generation. We will focus on advancing our leading innerwear brands and optimizing our world-class supply chain.”

“Today’s announcement is the result of significant efforts by our teams to position all of our brands for future success,” said CEO Steve Bratspies. “Over the past three years, we have implemented the necessary adjustments to enhance the company’s operations and financial results. These changes include lowering debt levels, cutting costs, restoring historical gross margins, and producing steady cash flow.

The successful completion of this transaction further simplifies our business, reduces our leverage, and enhances our operations and financial performance. As we embark on the next chapter for HanesBrands, we believe we are in an even stronger position to extend our leadership in innerwear, pursue new cost reduction opportunities, ensure the right operating structure, and advance our multi-year strategy to drive strong shareholder returns.”

Operational Transition Plan

The deal is expected to close in the second half of 2024, subject to usual closing conditions. Following the closing, HanesBrands will offer certain transition services for Champion, including operating the business in select regions during a transition period.

The company anticipates that the acquisition will generate net proceeds of around $900 million, excluding the contingent cash consideration and accounting for working capital adjustments and other typical transaction costs. The company expects significant deleveraging on a net debt-to-adjusted EBITDA basis and will use all net proceeds from the deal to accelerate its debt reduction in line with HanesBrands’ commitment to debt reduction.

As of the end of the first quarter of 2024, the global Champion business generated approximately $75 million of adjusted EBITDA on a trailing 12-month basis, after accounting for around $60 million in stranded costs. The company has specific plans to eliminate all stranded costs within a year of the transaction closing as it completes the business transition.

The company plans to classify Champion as discontinued operations in the second quarter of 2024. Consequently, it expects to update its full-year 2024 guidance alongside the release of its second-quarter earnings results.

Financial Advisors and Legal Counsel

Goldman Sachs & Co. LLC and Evercore are acting as financial advisors to HanesBrands, while Kirkland & Ellis LLP and Jones Day are providing legal counsel.

Continue Exploring: Tata Group eyes expansion with potential stake purchase in Fabindia’s apparel business

Raise a Glass: Burash in Noida to host International Gin Day Extravaganza, featuring over 50 unique garnishes and DIY cocktails!

SnackTeam

June 6, 2024

With temperatures soaring this summer, diners can elevate their spirits at Burash, a casual fine-dining restaurant renowned for its exquisite Mediterranean cuisine in Noida. On June 8th, they are all set to celebrate the International Gin Day Extravaganza, offering a wide range of Gin-based DIY cocktails and bar nibbles.

Crafted to embrace the essence of summer, the International Gin Day Extravaganza will feature over 50 unique garnishes, including berries, candy floss, and more. Pricing will be dynamic, with rates set at INR 2499 per person from 12:00 noon to 3:00 pm, INR 2999 per person from 4:00 pm to 7:00 pm, and INR 3499 per person from 8:00 pm to 11:00 pm, all inclusive.

Remaining faithful to its ethos as a responsible hospitality brand, Burash urges guests to carry ID cards as alcohol will strictly not be served to individuals under the legal drinking age.

Continue Exploring: Jimmy’s Cocktails turns profitable, targets INR 100 Cr revenue run-rate in next 18 months

Delightful Nibbles Menu: Levantine Dips and More

Alongside the extensive selection of DIY cocktails, Burash’s nibble menu will showcase an enticing array of Levantine dip dishes such as Hummus, Tzatziki with Lavash, Spinach Crackers, and more, complimentary for guests. Additionally, patrons will have the option to order from the restaurant’s regular à la carte menu at an extra charge.

Chef Rishab Gupta, Co-founder of Burash, expressed, “As we commemorate the International Gin Day Extravaganza, our aim is to inject some thrill into the lives of our patrons, especially as the summer heat takes its toll. It’s the ideal occasion to unwind with an enticing assortment of DIY cocktails and an array of delectable bar snacks.”

For reservations and to embark on a culinary journey, visit the website of Burash and secure your table.

Continue Exploring: Mizu Izakaya and Cobbler and Crew set to shake up Mumbai’s cocktail scene with epic collaboration!

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NewsHub

International Expansion Plans

Rare and Basics’s Journey: From Kochi to Nationwide Presence

UNIQLO’s Italian Debut

UNIQLO’s Entry into China

Factors Influencing Market Trends

Non-Alcoholic Beverage Categories Analysis

Consumer Trends Driving Gü’s Expansion

Catering to Younger Consumers’ Preferences

Future Plans:

Market Analysis and Competitor Comparison

Operational Transition Plan

Financial Advisors and Legal Counsel

Delightful Nibbles Menu: Levantine Dips and More