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From Behrouz to Biryani by Kilo: Companies cash in on India’s biryani frenzy

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Biryani

Biryani has become the most ordered and beloved dish on online platforms, with its demand continuing to rise this year. This surge in popularity has led delivery platforms to onboard more restaurants to meet the growing appetite.

Food companies specializing in this segment are aiming to expand into new markets while also introducing more unique concepts.

The eighth edition of Swiggy’s How India Swiggy’d report reveals that in 2023, India ordered 2.5 biryanis every second.

“A significant number of first-time users choose biryani as their first order, with 2.49 million debuting on Swiggy with a biryani. This year, we’ve seen nearly a 20% increase in restaurants offering biryanis,” a Swiggy spokesperson stated. “Swiggy is dedicated to expanding the availability and variety of biryanis, ensuring our customers can enjoy their favorite dish anytime, anywhere,” the spokesperson added.

Continue Exploring: Biryani at the top spot, again: Swiggy’s yearly report shed light on India’s food choices!

Rebel Foods: Riding the Biryani Wave

Ankush Grover, CEO of Rebel Foods for India and the Middle East, stated that the biryani segment has been growing by 20-25% year on year for the company, which operates two brands in this segment.

“The past year has been fantastic for us in both India and our global markets. Our biryani category has received tremendous love from international markets, including the Middle East and the UK,” said Ankush Grover. “Our Behrouz Biryani brand is growing in the early double digits. Customers keep us on our toes, and Behrouz is one of our top sellers wherever we go. We’ve expanded into markets such as Patna, Guwahati, Amritsar, Pondicherry, and Jamshedpur in India, and we’re planning to launch in Jammu, Rajkot, and other tier-II cities. We entered the MENA region six months ago and plan to intensify our focus in the Middle East and West region,” he added.

Continue Exploring: Behrouz Biryani taps Saif Ali Khan as brand ambassador for new biryani range

Grover mentioned that the company is currently running a pilot program called ‘Mehfil-e-Behrouz’ in Mumbai.

“Under this, we will arrange a buffet-like setup for people wanting to host a gathering through Behrouz that will include table runners, and kebabs and also curries as accompaniments,” he stated.

House of Biryan: Customization and Expansion

Mohammed Bhol, CEO of House of Biryan, stated that the Mumbai-based chain is expanding its presence to Delhi and Pune, with the goal of serving over 400,000 customers within a year. By December 2025, the company aims to achieve a revenue exceeding INR 100 crore through the operation of 45 stores. Bhol highlighted that the chain has successfully served more than 1.2 lakh customers in just one year. “We are the sole biryani platform that allows customers to customize their biryani,” Bhol remarked. “Ordinarily, when you order biryani, it arrives in a predetermined manner. However, our consumers have the option to select their preferred flavors and mix and match, which has significantly appealed to a younger audience,” he added.

Biryani by Kilo: Sustained Growth and Expansion Strategies

Vishal Jindal, co-founder of Biryani by Kilo, stated that the company has witnessed growth in both outlet count and revenues over the past year, with annual revenues rising from around INR 220 crore to over INR 300 crore. “We have extended our operating hours into the night and are exploring opportunities for more dine-in and highway outlets this year. Our focus for expansion remains on North and West India. Additionally, we’ve introduced a ‘Toofani’ category in our biryani offerings, ensuring quicker delivery,” he added.

Continue Exploring: Biryani by Kilo eyes 35% growth this FY, unveils ‘Tufani’ menu for quicker deliveries

Biryani’s Consistent Appeal

Vikrant Batra, founder of Cafe Delhi Heights, mentioned that despite offering a wide range of dishes from various cuisines, biryani consistently ranks among the top five dishes in terms of sales for both dine-in and delivery formats.

“Additionally, we observe an annual growth of 8-10% in biryani sales,” he added.

Pradeep Shetty, president of the Federation of Hotel & Restaurant Associations of India (FHRAI), emphasized that restaurant members are placing increased emphasis on the biryani segment, actively innovating with varieties and takeaways. “Moreover, they are committed to improving the packaging and delivery experience for consumers,” he stated. FHRAI boasts a membership of 500,000 restaurants, both directly and indirectly.

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NCLT grants Dunzo two-week extension to settle dues with Betterplace

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Dunzo
Dunzo

Offering some respite to the troubled hyperlocal startup Dunzo, the National Company Law Tribunal (NCLT) has reportedly granted the Reliance Retail-backed company a two-week period to settle its pending dues with vendor Betterplace Safety Solutions.

The latest extension will assist Dunzo in sidestepping potential insolvency proceedings for the next couple of weeks.

According to a Livemint report, a bench consisting of judicial member K. Biswal and technical member Manoj Kumar Dubey provided the extension following Dunzo’s legal representative’s request for a 14-day negotiation period to reach a settlement.

“We have engaged in significant settlement negotiations with the lenders… Additionally, we have been securing investments. We require a two-week extension until June 20th to endeavor to resolve the issue,” the report quoted Dunzo’s counsel as saying.

Continue Exploring: Challenges mount for hyperlocal platform Dunzo as key investor Lightbox steps down from board

In response, according to reports, Betterplace’s attorney informed the NCLT that the vendor has been informed about a settlement for nearly a year, expressing a lack of confidence. Additionally, Betterplace requested “some form of protection” in the shape of the company’s assets, otherwise expressing concerns that nothing would remain for them under the IBC’s corporate insolvency resolution process.

The Bengaluru bench of the tribunal is scheduled to address the matter next on June 19th.

Central to the issue is Dunzo’s failure to fulfill payments to Betterplace. The indebtedness stems from various services utilized by the hyperlocal startup, encompassing background checks, hiring, asset administration, and procurement.

Following Dunzo’s financial constraints and subsequent default on payments, Betterplace lodged an insolvency petition against the startup in February under Section 9 of the Insolvency and Bankruptcy Code (IBC).

As per Section 9 of the IBC, operational creditors are authorized to commence insolvency proceedings subsequent to a payment default. Nevertheless, there appears to be a lack of clarity regarding the precise amount owed to the creditor.

Funding Prospects: Dunzo’s Bid to Resolve Financial Woes

This development comes a month after reports indicated that the cash-strapped startup is poised to finalize a funding round following a year of deliberations. According to the reports, the startup would employ the funds to clear pending liabilities, including employee salaries.

As reported by Livemint, cofounder and CEO Kabeer Biswas communicated to employees internally that the arrangement is anticipated to “secure the company’s future indefinitely.” Sources informed the publication that Dunzo was in the advanced stages of securing between $22 million to $25 million in a combination of equity and debt from both new and existing investors.

Established in 2015 by Biswas, Dalvir Suri, Mukund Jha, and Ankur Aggarwal, Dunzo serves as a platform connecting consumers with nearby stores and enables the delivery of various items such as groceries and medicines.

Last year, the company reverted to its original hyperlocal model due to a significant rise in cash burn. The startup has been contending with various challenges, including delayed salaries, multiple insolvency proceedings, escalating losses, and postponed payments to vendors.

Continue Exploring: Legal troubles mount for struggling Dunzo as companies seek payment resolution

Last year, Dunzo also received legal notices from companies such as Google India, Nilenso, Clover Ventures, Facebook India, Cupshup, Koo, and others regarding outstanding payments.

Financial Performance

The Bengaluru-headquartered startup witnessed a notable increase in losses, reaching INR 1,801 crore in the financial year 2022-23 (FY23), compared to INR 464 crore in the preceding year. On the other hand, revenue from operations experienced a significant growth of 317% year-on-year, amounting to INR 226.6 crore for the fiscal year ending March 2023.

Continue Exploring: Dunzo reports INR 1,800 Crore loss in FY23, while operational revenue soars to INR 226 Crore
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Heineken acquires minority stake in hard seltzer brand Stëlz

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Stëlz
Stëlz

Heineken, the brewing giant, has acquired a minority stake in the Dutch ready-to-drink brand Stëlz for an undisclosed sum.

Stëlz, the hard seltzer brand, was established by Milan Voet and Glenn Cornelisse in 2020. The brand’s primary line features hard seltzers with an alcohol by volume (abv) of 4.5%, alongside canned cocktails with identical potency. Recently, Stëlz introduced a new lemon-flavored hard iced tea to its product lineup.

Stëlz, headquartered in Amsterdam, stated its intention to maintain its “independence,” while also mentioning that Heineken would offer resources to facilitate the company’s expansion into the broader “beyond beer” category.

Continue Exploring: Heineken takes a refreshing turn with Strongbow Zest Cider debut!

“You see a shift in social drinking culture with the introduction of hard seltzer,” Voet observed. “Our big neighbour has the strength and expertise we need to unlock that potential. They know the beverage market like no one else and can assist us with their expertise and knowledge in the retail, hospitality, as well as festival domains.”

Stëlz noted the increasing consumption of hard seltzers in the Netherlands and anticipates that these beverages will comprise 18% of ready-to-drink (RTD) sales by 2028, compared to 13% in the previous year.

Key Partnerships and Stakeholders

Additional stakeholders in Stëlz encompass the music enterprise ID&T, with whom Stëlz holds an exclusive supplier agreement for festivals, as well as the event coordination service This Is Live.

The valuation of Heineken’s investment in Stëlz remains undisclosed by both parties involved.

Maarten Schuurman, Managing Director of Heineken’s operations in the Netherlands, remarked, “It’s impressive how swiftly Stëlz has carved out a distinctive niche with their hard seltzer.”

Continue Exploring: Heineken injects £39 Million to revive 62 UK pubs

“On one hand, it’s about the product, but more importantly, it’s about how Stëlz uniquely markets it: direct and uncomplicated, with a sharp understanding of the current cultural atmosphere and the occasions suited for enjoying a hard seltzer.”

Last year marked Heineken’s acquisition of a minority stake in Served, the UK-based ready-to-drink brand co-founded by pop icon Ellie Goulding. Served specializes in offering a line of hard seltzers tailored to those pursuing a contemporary, health-conscious, and socially engaged way of life.

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WickedGud diversifies product portfolio, launches healthy Cup Noodles on Swiggy Instamart

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WickedGud

WickedGud, the FMCG brand dedicated to offering healthier food choices in India, has unveiled its newest addition, Cup Noodles. The debut on the retail quick commerce platform Swiggy Instamart marks a notable stride in WickedGud’s commitment to delivering convenient, delectable, and nutritious meals to families, all within a speedy 10-minute delivery window.

In the current retail environment, where Gen Z holds significant sway over household spending choices, mothers frequently encounter the dilemma of balancing nutrition with flavor in meals. WickedGud tackles this challenge head-on by presenting a healthier substitute for conventional pasta, instant noodles, and chips. Their offerings feature fresh, nutrient-packed multi-grain components such as dal, chawal, chana, atta, oats, and jowar.

WickedGud’s Cup Noodles – Convenience Meets Nutrition

WickedGud’s latest Cup Noodles are a standout in the instant food market, embodying the brand’s ethos of “Wicked Taste and Gud Ingredients.” They boast real food components, free from Maida, Palm Oil, and Added MSG, while incorporating whole wheat for nutritional value. Quick to prepare and available in masala and desi-manchow flavors, they offer both convenience and taste. Priced affordably at INR 60 for a 67-70 gram cup, they make healthy eating accessible to all.

Bhuman Dani, the Founder and CEO of WickedGud, said, “We’re delighted to introduce our newest addition, the Cup Noodles range, as part of our ongoing mission to transform Indian kitchens and rid them of unhealthy choices. Packaged foods today are saturated with maida, oil, sugar, and harmful chemicals, loaded with empty calories, carbs, and unpronounceable artificial elements. This reality gave me pause, not only for myself but for my family as well. Recognizing this shared concern spurred me into action. At WickedGud, we’re committed to fostering a culture of ‘habitual indulgence’—providing delectable and convenient options that never compromise on health.”

Actor and Investor Shilpa Shetty chimed in, stating, “Being a working mom, I completely relate to the challenge of sourcing convenient, speedy meal solutions for my family, particularly during busy days. WickedGud’s fresh Cup Noodles are a revelation! They’re not just scrumptious and swift to whip up, but they’re also crafted with genuine, nourishing ingredients that I can rely on. At last, a convenient meal choice that doesn’t sacrifice flavor or healthfulness.”

Continue Exploring: WickedGud secures significant funding as Shilpa Shetty invests INR 2.25 Crore, reinforcing brand presence

Phani Kishan, CEO of Swiggy Instamart, noted, “Swiggy Instamart has become the go-to platform for consumers seeking diverse and nutritious choices, all delivered within 10 minutes. We are continuously striving to expand the range and caliber of health-oriented products on offer. WickedGud’s new lineup of wholesome cup noodles is bound to please health-conscious customers, providing them with guilt-free indulgence. Being available on Instamart ensures that this healthier noodle option reaches users nationwide, keeping them prominently featured in the rapidly expanding quick commerce sector.”

WickedGud strives to empower Indian mothers in offering nutritious meals without any compromises. Through their innovative products, families can savor delicious and convenient meals while prioritizing their health and well-being.

Continue Exploring: WickedGud aims for INR 700 Crore net revenue and INR 100 Crore EBITDA in 7-year plan amid rising demand for health-conscious D2C snacks

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Fashion brand Snitch unveils its largest store in Bengaluru

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Snitch
Snitch

Snitch, a Bengaluru-based fashion brand, has unveiled its largest store to date in the heart of Bengaluru.

The recently launched standalone store, marking its seventh establishment in the city, spans over 10,000 square feet.

The latest store is located in the bustling Hosur Sarjapura Road (HSR) layout, a prominent suburb in southeastern Bengaluru, India.

Continue Exploring: Fashion brand Snitch achieves over 150% growth in FY23-24, marks highest GMV in March

Siddharth Dungarwal, CEO and founder of Snitch, expressed, “We’re witnessing remarkable growth, unveiling new stores every two weeks to serve our discerning clientele. Within our cutting-edge showrooms, customers can explore a diverse collection of over 1000 styles spanning across 13 categories, all conveniently accessible in one location. This rapid expansion underscores our steadfast dedication to providing an extensive and unparalleled shopping journey.”

Current Store Operations and Expansion Plans

Presently, the brand operates seven stores throughout India: three in Bangalore, two in Surat, and two in Vadodara. With ambitious expansion goals, Snitch aims to inaugurate an additional 30 stores by the close of this fiscal year.

In the fiscal year (FY) 2023-2024, Snitch experienced a remarkable growth of over 150% compared to the preceding year. During this period, Snitch shipped over 3.5 million pieces through diverse channels, maintaining profitability while achieving a net sales increase of more than 2.25 times compared to the previous year.

Starting its journey as a D2C brand in 2020, Snitch secured INR 110 crore in a Series A funding round in December 2023. The investment came from Singapore-based venture capital firm SWC Global and Indian venture firm IvyCap Ventures.

Continue Exploring: Snitch eyes offline retail expansion after raising $13.19 Million in Series A funding round

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Dior unveils new Fragrances and Beauty Boutique in Bengaluru’s Phoenix Mall of Asia

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Dior Fragrances and Beauty store
Dior Fragrances and Beauty store

Christian Dior, the French multinational luxury fashion house, has unveiled its new Fragrances and Beauty boutique in Bengaluru. Located at Phoenix Mall of Asia in Yelahanka, this elegant addition was announced by a mall official on social media.

Tanul Bheda, the general manager of leasing at Phoenix Mall of Asia, announced in a recent LinkedIn post, “It’s our pleasure to announce that Dior, Fragrances and Beauty has commenced operations at Mall of Asia.”

Within the store, patrons can explore an extensive selection including Dior’s makeup, skincare, and fragrance collections, alongside a variety of personalized services.

Christian Dior’s Presence in the Indian Market

The first Christian Dior Fragrances and Beauty boutique in India was unveiled in 2016 at New Delhi’s Select CityWalk mall, Saket. Currently, the brand has over four such stores in India across Mumbai, New Delhi, and Bengaluru.

In 2006, Christian Dior entered the Indian market by inaugurating a haute couture boutique in New Delhi.

Continue Exploring: St.Botanica diversifies portfolio, enters fragrance market with exquisite perfume line

Established in 1946 by French fashion designer Christian Dior, the renowned brand Dior now falls under the control and leadership of French businessman Bernard Arnault, who also serves as the chairman of LVMH. With a global presence, Dior manages more than 620 retail outlets worldwide.

Phoenix Mall of Asia reserves an entire floor solely for esteemed international luxury brands, showcasing a curated selection including Ferragamo, Boss, Emporio Armani, Kate Spade, Bottega Veneta, Zegna, Coach, Brooks Brothers, Golden Goose, Karl Lagerfeld, Hackett, and many more.

It’s expected that all the luxury brands will be up and running by the year’s end.

Continue Exploring: Rabanne unveils exclusive 1Million Golden Oud fragrance in India through Shoppers Stop

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Reliance Retail’s Yousta unveils new store in Pune’s Amanora Mall

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Yousta
Yousta

Yousta, the youth-focused brand under Reliance Retail, has opened its store in Pune’s Amanora Mall, as revealed by a top company executive in a social media post.

The latest store will provide amenities such as QR-enabled screens for sharing information, self-checkout counters, Wi-Fi access, and charging stations.

Continue Exploring: Yousta unveils second Pune outlet with Bollywood star Shraddha Kapoor adding glamour to the grand opening

Surjit Singh Rajpurohit, CEO of Amanora Mall, Pune, shared on his LinkedIn post, “We’re delighted to unveil another remarkable addition to Amanora Mall, Pune – the inauguration of Yousta, Reliance Retail’s youth-focused fashion retail format! Yousta brings high-fashion to young consumers at affordable prices. Get ready to elevate your shopping experience and be part of this incredible journey!”

Recent Additions to Amanora Mall

The mall introduced several new outlets, including Nykd by Nykaa, Meena Bazaar, and Burger Singh, just a month ago.

Earlier, the company had inaugurated Yousta stores in Mahasharta, located at Phoenix Marketcity Pune, and Satyam Pride in New Panvel.

Reliance Retail launched its youth-focused fashion brand, Yousta, in August 2023, marking the opening of its first store at Sarath City Mall in Hyderabad. Presently, it spans across 15 states nationwide.

Reliance Retail Ltd (RRL), the retail subsidiary of Reliance Industries Ltd., operates a comprehensive omni-channel network comprising over 18,774 stores and digital commerce platforms.

Continue Exploring: Yousta unveils its first North Indian store in Prayagraj, inaugurated by Bollywood actor Rajkumar Rao!

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Starbucks continues expansion in India, opens first store in Greater Noida

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Starbucks
Starbucks

Starbucks, a US-based coffee chain, has launched its first store in Greater Noida, as announced by a company official on social media. The new store is situated at Ithum Galleria near Delta 1 metro station in Uttar Pradesh.

“Greater Noida, we’re here! Our very first store in your city is now open at Ithum Galleria near Delta 1 metro station,” shared Rahul Chaudhary, Associate in Business Development at Starbucks India, on LinkedIn.

“The journey commenced about a year and a half ago, and it was truly rewarding,” he added.

Starbucks Operations in India

The Starbucks-branded coffee chain in India operates through a joint venture split equally between Seattle-based Starbucks Coffee Co. and Tata Consumer Products Ltd.

In 2023, Starbucks expanded its presence in India by entering 15 new cities, inaugurating a total of 71 new stores. Presently, the brand boasts a network of over 430 stores nationwide.

The company aims to achieve a milestone of operating 1,000 stores in India by 2028, with the strategy of opening a new store every three days.

Continue Exploring: Starbucks CEO bullish on India’s coffee market, targets 1000 cafes by 2028

The beverage giant has announced its intention to double its workforce, aiming for approximately 8,600 partners, up from the current 4,300. This expansion strategy encompasses entering tier 2 and 3 cities in India, along with extending services to drive-thrus, airports, and 24-hour store formats to meet the diverse needs of customers.

The company recently unveiled its first store within the premises of the Delhi High Court, marking its first establishment within a court in India.

Continue Exploring: TATA Starbucks launches global favourite refreshers in India

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Nykaa board appoints Santosh Desai as Independent Director

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Santosh Desai
Santosh Desai

Nykaa, the Mumbai-based e-commerce company which offers a wide array of beauty, fashion, and lifestyle products, has announced the appointment of brand consultant Santosh Desai as an Independent Director on its board, effective July 15, 2024, for a term of three years.

Nykaa’s board of directors currently consists of 10 members, each bringing expertise in various areas including business strategy, technology, entrepreneurship, finance, governance, regulation, human capital management, and corporate social responsibility (CSR).

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

“We firmly believe that Santosh’s strategic guidance will play a pivotal role in driving Nykaa’s brand equity forward and fortifying our current array of brands for sustained global triumph,” stated Falguni Nayar, Nykaa’s Executive Chairperson, Founder, and CEO.

Nykaa’s Additional Independent Directors

Additional independent directors of the digital beauty retailer include Milind Sarwate, Anita Ramachandran, Seshashayee Sridhara, and Pradeep Prameshwaram.

Desai held the position of chief executive officer at FutureBrands Consulting for close to 17 years. Additionally, he assumed the role of President at McCann, an advertising agency.

Currently, Desai holds board positions at Think9 Consumer Technologies, Dainik Jagran Group, and Breakthrough. Furthermore, he is an active member of the governing councils at Mudra Institute of Communication, Ahmedabad, and Praxis Business School, Kolkata. Previously, he served on the boards of ING Vysya Bank and Oxfam India.

“I am thrilled to become part of Nykaa as an independent director. Nykaa’s dedication to customer-centric retail has truly revolutionized the beauty and lifestyle landscape in India,” remarked Desai.

Established in 2012, Nykaa caters to 25 million consumers across India. Over time, Nykaa has diversified its portfolio, venturing into lifestyle and B2B sectors with the launch of online platforms such as Nykaa Fashion, Nykaa Man, and Superstore.

Continue Exploring: Fashion, grocery, and general merchandise to dominate two-thirds of Indian e-commerce market by 2027: Nykaa CEO Falguni Nayar

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Prosus’ new CEO eyes collaboration opportunities between Swiggy and Delivery Hero

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Fabricio Bloisi
Fabricio Bloisi

Prosus‘ soon-to-be CEO, Fabricio Bloisi, sees potential for collaboration and synergy between portfolio companies Swiggy and Germany’s Delivery Hero.

Prosus holds the largest stake in Swiggy, owning 32% of the startup. Additionally, it has played a significant role as an investor for Delivery Hero, a company that went public in Germany back in 2017.

“Prosus has been increasingly involved with Delivery Hero in recent months, and it’s been more engaged in supporting Swiggy, as well, obviously. With my appointment, we anticipate greater opportunities for collaboration between our businesses and the sharing of best practices,” Bloisi informed analysts during a conference call on May 17 following the announcement of his new role.

Bloisi is set to become an executive director on the Naspers board starting July 1, and will subsequently join the Prosus board following the AGM in August 2024.

Continue Exploring: IPO-bound Swiggy resumes homestyle meal delivery service ‘Swiggy Daily’, integrates into main app

It’s worth noting that Bloisi presently serves as the CEO of iFood, a prominent food delivery startup in Brazil. Although he didn’t disclose detailed plans for collaboration between Swiggy and Delivery Hero, he highlighted that Swiggy’s expertise in Instamart and quick commerce in India would benefit iFood.

“In India, we collaborate closely with Harsha [Sriharsha Majety, cofounder of Swiggy] and the Swiggy team. Our interactions with them have been highly informative, particularly in the realm of iFood. For instance, their success with dark stores in the grocery sector is something we’re closely studying,” he shared with analysts, drawing parallels between his experiences in Brazil and the potential contributions to Prosus’ ventures in India.

Although the potential partnership between Delhivery Hero and Swiggy remains in the realm of speculation, it raises the question of whether Swiggy intends to venture into international markets through such a collaboration. However, there have been no signals thus far indicating that the Bengaluru-based unicorn is considering an expansion abroad.

Continue Exploring: Swiggy files confidential draft papers with SEBI for IPO launch

Considering Swiggy’s aims to reduce expenses, achieve profitability, and its recent filing of pre-IPO papers in India, any potential collaboration with Delivery Hero will be under close scrutiny.

Financial Performance of Swiggy

For context, in the fiscal year 2023, Swiggy reported a net loss of INR 4,179 crore, with operating revenue reaching INR 8,246 crore. According to reports, during the first nine months of fiscal year 2024 (from April 2023 to December 2023), the company recorded a loss of approximately $207 million (approximately INR 1,650 crore).

Given Zomato‘s less-than-impressive track record with global ventures, it’s intriguing to observe how Swiggy harnesses the potential synergies within Prosus’ portfolio. Delivery Hero, with its presence in 70 countries spanning Asia, Europe, MENA, and the Americas, offers a significant scope for exploration.

It’s worth mentioning that in 2019, Delivery Hero acquired Zomato’s UAE business, a direct competitor to Swiggy. Additionally, Delivery Hero invested $50 million in Zomato’s international operations, which is now a publicly listed food delivery powerhouse. Zomato, in its bid for global expansion, acquired several entities including Urbanspoon, Gastronauci, Cibando, MenuMania, and Lunchtime.

However, leading up to its initial public offering and shortly thereafter, the company opted to cease international operations in several regions, aiming to streamline its business operations.

Zomato, which made its debut on the stock market in 2021, reported its first-ever profit of INR 351 crore for the entire fiscal year of FY24.

The Gurugram-headquartered food delivery and quick commerce behemoth discontinued operations across nearly all international markets, such as the United States, United Kingdom, Singapore, and most recently Lebanon. Earlier this year, it also wound up its subsidiaries in Vietnam and the Czech Republic.

It remains to be seen whether Swiggy will reap any advantages from potential synergies with international players like Delivery Hero, particularly given Zomato’s previous unsuccessful experiences in similar endeavors.

In addition to discussing Swiggy, Bloisi announced that he would be visiting India in the coming weeks to further explore Prosus’s portfolio, which includes Meesho and PayU. “Therefore, you can anticipate that I will spend more time in India learning a great deal and considering how we can leverage our global structure to strengthen our position in India.

Continue Exploring: Zomato’s Q4 net profit surges 27% quarter-over-quarter to INR 175 Cr

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