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House of Biryan set to spice up Delhi and Pune with 35 new outlets by 2025, eyes INR 100 Cr revenue boost

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House of Biryan
House of Biryan

House of Biryan, renowned for its signature customizable biryani offerings, plans to inaugurate 35 new outlets in diverse locales across Delhi and Pune, elevating the total count to 45 stores by December 2025. The company anticipates revenues exceeding INR 100 crore with the expanded network, aiming to serve over 400,000 new patrons.

Mohammed Bhol, co-Founder and CEO of House of Biryan, highlights, “Biryani brands, though thriving locally, face hurdles when expanding to multiple cities. We view this as an opportunity and have addressed the challenge by conducting thorough PMFit activities before market entry.”

“We’ve undertaken numerous PMFit activities, including pop-ups and tastings, to secure on-the-ground consumer validation. Regrettably, it’s a rigorous and arduous process, but necessary for ensuring success,” he added.

Bhol noted that while biryani remains the most ordered dish on platforms like Swiggy and Zomato, it also represents the most competitive category for operation.

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

Experiential Dining Concepts:

“One thing became evident when we embarked on this journey in December 2022: our emphasis on the product’s freshness, a crucial aspect often overlooked, particularly by scalable brands due to extensive food industrialization,” he remarked.

“We were equally determined to establish unique selling points for our biryani. We’ve incorporated experiential dining concepts, such as our galouti section, offering various vegetarian, chicken, and mutton galouti options, which are nearly 90% comparable to those found at an ITC hotel, but at a fraction of the cost and delivered directly to the comfort of your living room,” he elaborated.

Customization as a Key Differentiator:

Bhol emphasized that House of Biryan stands out as the sole biryani platform offering customers the opportunity to customize their own biryani.

“Typically, when you order biryani from a specific place, it arrives in a predetermined manner, with fixed components. However, that’s not our approach. With us, you have the freedom to choose your flavor, select from various protein options, and mix and match to your preference. This flexibility has significantly broadened our appeal, particularly among younger audiences,” he further explained.

He highlighted that, bearing this in mind, the company has opted not to pursue the traditional royal, Mughal route that other biryani brands have taken.

“In fact, our initial stance was clear: if you’re seeking an authentic biryani, we’re not the place for you. Instead, we concentrate on delivering a fantastic, desi, delicious, and addictive product. Our order processing time is just 11 minutes, ensuring swift delivery,” he elaborated.

Continue Exploring: The House of Biryan sets sights on rapid expansion with plans for 40 new locations in the next 18 months

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D2C brand WellBe Foods hits 1000 store milestone, eyes 25,000 GT stores by FY24-25

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WellBe Foods
WellBe Foods

D2C brand WellBe Foods, a part of the Nimida Group, achieved a significant milestone in the FY 2023-24 by reaching 1000 stores. Based in Bengaluru, this brand is renowned for its commitment to offering clean food choices to Indian consumers. Now, it’s gearing up for further expansion through the General Trade (GT) route. By the end of fiscal year 2024-2025, WellBe Foods plans to launch its snacks and snack bars in 25,000 general trade (GT) stores across South India, becoming the first brand with a “No Nasties” promise to reach such a wide distribution in GT stores.

General Trade stores, encompassing traditional mom-and-pop or kirana outlets, play a pivotal role in the Indian retail landscape. With approximately 12 to 13 million such establishments across the country, they constitute about four-fifths of total FMCG retail sales in India. Despite the surge of e-commerce, these conventional retail stores maintain their dominance, commanding nearly 90 percent of India’s $1.3 trillion retail market.

WellBe Foods’ Journey: From Modest Beginnings to 1000 Stores

WellBe Foods embarked on its journey in 2020, initially establishing a modest presence in 13 stores of The Organic World in Bengaluru. Since then, its range of healthy snacks and snack bars has expanded significantly, now being stocked in 1000 stores spread across five cities: Bengaluru, Chennai, Hyderabad, Vizag, and Vijayawada. This growth has been strategically fueled by partnerships with Modern Trade (MT), Stand Alone Modern Trade (SAMT), and Regional Chains, featuring prominent retail collaborators such as Lulu, Spar, Spencer’s, More, Ratnadeep, and Natures’ Basket.

Continue Exploring: The Organic World sets sights on INR 100 Cr brand status by FY25 with aggressive expansion plans and private label growth

Gaurav Manchanda, Founder of Nimida Group and MD of WellBe Foods, stated, “FY 2023-24 has been an immensely rewarding year for WellBe Foods. Reaching the 1000-store milestone is a significant achievement! What motivates us the most is the overwhelming consumer affection for WellBe products across various markets. Health-conscious professionals and millennial moms alike are seeking snacks made from wholesome ingredients, free from chemically refined oils and artificial colors. They are scrutinizing food labels and making informed decisions that align with their health objectives. At Nimida Group, we are excited to maintain this positive momentum, offering Deliciously Good, Honestly Made food with No Nasties Ever!”

WellBe Foods presents a range of traditional Indian snacks, including kodbale, ribbon pakoda, murukku, khara chakli, cornflakes mixture, and khara sev, all reimagined in a healthier form. The brand prioritizes the use of all-natural, wholesome ingredients such as red rice flour, rice bran oil, and flaxseeds, completely avoiding maida. True to its No Nasties promise, all WellBe products are free from chemically refined oils, artificial colors, artificial flavors, artificial sweeteners, synthetic antioxidants, synthetic preservatives, and high fructose syrups.

Continue Exploring: Blackstone-led consortium eyes $8.5 Billion stake in Haldiram snacks, setting stage for India’s largest PE buyout yet

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IHCL expands portfolio with debut of 86-key Ginger Hotel in Nagpur

IHCL
IHCL

The Indian Hotels Company Ltd (IHCL) has unveiled an 86-key Ginger hotel in Nagpur. The Ginger Nagpur Airport Road hotel is part of a mixed-use development that includes one of the city’s shopping malls. The property is in close proximity to the Dr Babasaheb Ambedkar Airport and provides easy access to the recently constructed metro line that serves the airport.

Strategic Significance for IHCL

“This inauguration is in complete harmony with IHCL’s strategic goal of establishing a strong presence in important business centres.

Continue Exploring: Ginger Hotels to spearhead IHCL’s aggressive expansion plan, anticipates surge in new business revenue

“Nagpur is a promising city that is currently Central India’s main business hub and a rising metropolis. With the opening of Ginger Nagpur Airport Road, we are excited to present the Ginger brand to the city,” said Deepika Rao, IHCL’s Executive Vice President of New Businesses and Hotel Openings.

With the inclusion of this hotel, IHCL will boast a portfolio of 34 hotels, with 11 currently under development, spanning across the Taj, Vivanta, SeleQtions, and Ginger brands in Maharashtra.

Continue Exploring: IHCL to launch over 50 new hotels in next two years

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Telangana implements statewide ban on sale, production, and distribution of tobacco and gutka products

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pan masala gutka tobacco
(Representative Image)

The Telangana government has banned the manufacture, storage, distribution, and sale of gutka and pan masala containing tobacco and nicotine statewide, effective from May 24, 2024, for a period of one year.

The restriction has been implemented with a genuine concern for public welfare. As per the directive from the Food Safety Commissioner, it will be enforced under the Food Safety and Standards Act, 2006.

According to the directive issued by the Food Safety Commissioner, the order states, “Telangana state hereby prohibits the manufacture, storage, distribution, transportation, and sale of Gutkha/Pan masala containing tobacco and nicotine as ingredients, packaged in sachets, pouches, packages, containers, etc., or by any other name, throughout the entire State of Telangana for a period of one year, starting from May 24, 2024.”

Continue Exploring: Karnataka Legislative Assembly passes bill to ban hookah bars and tighten tobacco regulations

This development comes as a response to the serious health risks associated with the consumption of Gutka and pan masala. These tobacco products are often linked to oral cancer, oral submucous fibrosis, and various other health issues.

Impact on Market Dynamics and Pan Shop Owners

Since Sunday afternoon, this directive has affected the markets in Hyderabad, with pan shop owners prepared to adhere to the new regulation. However, they are encountering challenges due to the unorganized nature of the sector.

Mohammed Salahuddin Dakhni, president of the Pan Shop Owners Association of Telangana, said, “There are approximately 150,000 pan shops in Telangana. We endorse the ban on gutka, and many shops have already ceased its sale. However, we urge authorities to consider exempting chewing tobacco and zarda, as millions of families rely on these sales for their livelihoods.”

Mr. Salahuddin mentioned that his association had recently submitted petitions to Telangana Chief Minister A. Revanth Reddy and Union Health Minister Mansukh Mandaviya regarding this matter. He noted that numerous pan shops across the state also display posters outside indicating that they do not sell gutka.

Continue Exploring: Haryana allows over-the-counter sales of Nicotine Replacement Therapy (NRT) in retail outlets

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Competition watchdog approves ITC Hotel’s demerger plan

ITC Hotels
ITC Hotels

The Competition Commission of India (CCI) has given the green light to the demerger of ITC Ltd‘s hotel business into a separate entity.

Once the demerger is finalized, the stocks of ITC Hotels Ltd, a newly formed entity, will be listed on the stock exchanges.

The proposed merger involves the transfer of the demerged business to ITC’s wholly-owned newly established subsidiary, ITC Hotels.

Ownership Structure and Shareholding

After the demerger, ITC Hotels shares will be listed. ITC will retain a 40 percent stake, with the conglomerate’s shareholders holding the remaining 60 percent, as stated in a notice on the CCI website.

ITC boasts a diversified portfolio in India, encompassing FMCG, hotels, paperboards, paper and packaging, as well as agri-business.

Continue Exploring: ITC board approves hotel business demerger, expects ROCE to improve significantly

ITC stated in the notice that the proposed combination is merely an internal restructuring exercise and will not impact market dynamics in any way.

The Commission approves the demerger of Hotels Business of ITC Ltd to its wholly-owned subsidiary ITC Hotels Ltd,” as stated in a post by CCI on X.

In July 2023, the prominent conglomerate ITC announced the demerger of its hotel business, incorporating wholly-owned subsidiary ITC Hotels Ltd.

The company’s board has also given approval for the establishment of the wholly-owned subsidiary ITC Hotels Ltd, which will manage its hotels and hospitality business, it further stated.

Established in 1975, ITC Hotels, India’s leading chain of luxury hotels, has over 115 hotels in 80-plus destinations across six distinct brands.

Continue Exploring: BAT to stay off ITC Hotels’ board amid demerger plans

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Agritech startup FarMart secures INR 24 Cr funding for carbon-efficient food supply chain

Alekh Sanghera and Mehtab Singh Hans, Co-Founders, FarMart
Alekh Sanghera and Mehtab Singh Hans, Co-Founders, FarMart

FarMart, an agritech startup, has secured INR 24 Crore ($2.8 Million) in funding from Swiss asset manager ResponsAbility Investments as part of its financing round.

The startup plans to utilize the fresh proceeds to expedite its efforts towards building a carbon-efficient food supply chain. Additionally, as part of the deal, FarMart will leverage responsAbility’s expertise to optimize its existing supply chain.

FarMart cofounder and CEO Alekh Sanghera emphasized, “Sustainability lies at the heart of our business, and responsAbility aligns with our mission through its robust focus and proficiency in sustainability. Their investment enables us to expedite our endeavors towards establishing a carbon-efficient food supply chain, ultimately advancing our vision of a food-secure world.”

Neha Baid, Head of Sustainable Food Debt at responsAbility APAC, expressed, “We take pride in our collaboration with FarMart to combat food loss and waste in India. Their technological solutions play a pivotal role in optimizing supply chain and logistics efficiency. Through our financing and climate advisory proficiency, we are amplifying our impact alongside FarMart.”

Continue Exploring: FarMart joins ONDC as the first food and agri-tech supply network

Established in 2015 by Alekh Sanghera, Mehtab Singh Hans, and Lokesh Singh, FarMart is an agritech startup facilitating direct procurement of food commodities for global food brands from farmers. With a network spanning 3 million farmers, it assists over 2,000 food manufacturers across six nations in procuring more than 90 food commodities.

Additionally, it harnesses AI for quality assurance and places a strong emphasis on traceability across the value chain. The B2B startup asserts its ability to serve clients across Asia, the Middle East, and Africa.

Supported by prominent investors including General Catalyst, Matrix Partners, Omidyar Network, and Avaana Capital, the startup has accumulated over $44 million in funding to date.

Market Dynamics:

This development comes at a time when the Indian agritech startup ecosystem is experiencing significant growth, fueled by increasing demand for agricultural products and services. It coincides with the integration of AI and a renewed push from both the central government and states towards adopting smart agricultural practices.

Continue Exploring: Uttar Pradesh govt aims to integrate AI in farming, bolster agritech startups for economic growth

Consequently, the market is experiencing steady growth, accompanied by the emergence of a new wave of agritech players that are reshaping the industry. Investors are eagerly lining up to support these innovative tech companies.

Earlier this month, Info Edge augmented its ownership in agritech startup Gramophone to 39.5% by injecting an additional INR 15 Crore into the company. Preceding this, Niqo Robotics concluded its Series B funding round at $13 million.

Continue Exploring: Info Edge to invest additional INR 15 Cr in agritech startup Gramophone

Poshn has secured $6 million, comprising both equity and debt, as part of a Pre-Series A round co-led by Prime Venture Partners and Zephyr Peacock India.

According to data, the Indian agritech sector is projected to represent a market opportunity of $25 billion by 2025.

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Licious appoints Karishma Gupta as CFO, targets profitability ahead of IPO

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Karishma Gupta
Karishma Gupta

Licious, the fresh meat and seafood delivery unicorn, is ramping up its talent acquisition efforts as it aims for profitability and prepares for an initial public offering (IPO) within the next 24 months.

Delightful Gourmet, the parent company of Licious, has appointed Karishma Gupta, as its new Chief Financial Officer (CFO). Her appointment fits in with Licious’ omnichannel growth strategy for profitable growth.

Headquartered in Bengaluru, the company aims to establish more than 500 Licious outlets across 20 cities within the next five years. Their goal is to achieve operational profitability by the end of the current financial year (2024-25).

Her role will be pivotal in nurturing sustainable growth and profitability, setting up governance frameworks, and implementing crucial standard operating procedures as Licious transitions into a pre-IPO phase.

“Our intention is to launch 500 stores within the upcoming five years. While it’s premature to specify hiring figures, we’ll be scouting for individuals possessing essential skills and specialized expertise,” stated a spokesperson for the company.

Continue Exploring: Licious embarks on offline expansion, plans to open five stores in Bengaluru by June, eyes 500 nationwide in five years

“The prerequisites comprise a nuanced hyperlocal comprehension, sharp insights to recognize consumer demands in crucial catchment zones for new stores, along with a deep understanding of primary differentiators and synergies between online and offline environments,” the spokesperson elaborated.

As a chartered accountant, she contributes more than 18 years of varied finance experience to Licious. Her skills encompass business collaboration, supply chain finance, governance, financial planning and analysis, auditing, and controllership.

Having served in leadership capacities within multinational and Indian firms, she boasts a demonstrable history of rejuvenating business performance, financial administration, and overseeing mergers and acquisitions.

Prior to her tenure at Licious, she led the charge in implementing expansion and revitalization strategies across various brands and regions for Jubilant FoodWorks.

Vivek Gupta and Abhay Hanjura, the co-founders of Licious, underscored the company’s robust financial standing, noting a nearly 20 percent annual revenue growth of $100 million last year. They pointed out the company’s shift from a loss margin to a gross margin of nearly 30 percent, along with an 80 percent decrease in burn rate.

Gupta and Hanjura emphasized, “Our primary focuses as we move forward into the next phase of our journey are maintaining financial health, fostering sustainable growth, driving innovation, and establishing robust financial frameworks.” They expressed confidence that Karishma’s extensive experience with prominent players in related industries, especially her retail acumen aligning with their omnichannel strategy, will prove immensely beneficial.

Continue Exploring: Licious crowned ‘India’s Juiciest Chicken’ by National Meat Research Institute

In her earlier career, she held roles at Diageo, GSK Consumer Healthcare, and ITC. Notably, she stands as one of the youngest female CFOs in India, a significant milestone given that only 50 out of the 2,328 companies listed on the National Stock Exchange have women serving in this capacity.

“We are in a phase where there will be a strong push for swift expansion,” she said. “We will go through a transformative journey over the next few years towards the next phase of innovation-led business growth, even though we already have best-in-class finance structures and governance.”

Licious’ Expansion and Financial Performance

Licious caters to consumers in more than 20 Indian cities, handling 1.2 million orders monthly, with over 90 percent repeat consumption across all markets. The company boasts a workforce of over 6,000 team members spanning various disciplines and functions.

The company has set aside approximately $100 million for the expansion of its stores. They are also planning to conduct a pre-IPO funding round at some point in 2026.

With an impressive annual revenue run rate of INR 850 crore, the company has seen a significant uptick in monthly revenue, climbing from INR 60 crore to approximately INR 72 crore year-on-year (Y-o-Y).

The platform anticipates reaching a revenue run rate of INR 1,200 crore by March 2025, reflecting a monthly revenue run rate of INR 100 crore. Out of this, INR 90 crore could stem from the app, with the remaining portion generated by the new retail stores.

On a year-on-year basis, the monthly cash burn has decreased to approximately INR 12 crore from INR 26 crore. The company aims to further slash this figure to about INR 10 crore. Sources indicate that gross margins have surged to 30 per cent.

In 2022-23, the company recorded a 9 per cent year-on-year revenue growth, reaching INR 748 crore. Meanwhile, the loss for the year decreased by approximately 38 per cent to INR 529 crore.

Continue Exploring: Licious records INR 748 Cr in meat sales for FY23 as growth plateaus

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Healthy snack maker, Crrunchy targets new frontiers with offline expansion

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Crrunchy
Crrunchy

Crrunchy, a Gurgaon based healthy snacks brand and startup known for its premium flavored makhanas, is entering a new phase of growth. After successfully establishing its presence in Delhi-NCR and Maharashtra, recently, the brand introduced its exceptional offerings to the discerning palates of Gujarat. With numerous brands already competing in the North, Crrunchy is now strategically focusing on South India and exploring global markets. Not only this, the company is also working on expanding its product offerings.

Founded in 2021, Crrunchy began its journey in North India before expanding to Maharashtra, Gujarat including tier 2 cities like Aurangabad. Now its expanded into the South Indian market, particularly cities like Kochi in Kerala. “Our focus now is on South India and the global market,” says Dr. Saurabh Choudhary, the visionary behind Crrunchy, acknowledging the saturation of brands in North India.

“In North India, Makhana is well-known for its benefits. However, when I first entered the offline market in Kerala, I faced some interesting challenges. Distributors and super stockists would frequently ask, “Makhana? Is that what you use at Prasad?” This highlighted the need for increased awareness, especially in South India and global markets,” he says.

Continue Exploring: Healthy snacking brand Crrunchy sets sights on Gujarat and South India for expansion

While the Makhana market is increasingly crowded, Crrunchy stands out due to its commitment to quality and affordability. Dr. Choudhary highlights several unique selling points: “Our Makhanas are fresh and fumigation-free, sourced directly from our own land. Unlike other brands that use palm oil, we use high-quality vegetable oil, ensuring a healthier snack.” This dedication to quality allows Crrunchy to offer competitive pricing, with a 70-gram jar of Makhanas priced at 170 rupees, compared to over 200 rupees for 90-gram jars from competitors that often contain added palm oil.

On the other hand, Crrunchy is soon going to launch new product offerings with various dry fruits snacks. Giving the update Dr Choudhary informs that testing for various dry fruits such as almonds, peanuts and cashews and proceedings for food license is already completed.

Distribution Strategy

Additionally, unlike many brands that start with a D2C model, Crrunchy has always prioritized establishing a strong offline presence. “Our initial focus was to crack the offline market, which helps reduce marketing costs in the long run,” explains Dr. Choudhary. Currently, Crrunchy products are available in both General Trade (GT) and Modern Trade (MT) channels.

With this, Crrunchy is set to expand its reach even further. The brand has already signed up with major quick commerce platforms like Big Basket and Zepto, with plans to launch in the next month or two. This move aims to tap into the growing demand for quick and convenient online shopping, complementing Crrunchy’s robust offline strategy.

Financial Performance and Projections

Talking about the brand’s performance, the past quarter was a successful one for Crrunchy, with sales reaching approximately 58 lakhs, says Dr Choudhary. Looking ahead, Crrunchy anticipates significant growth: “We expect to reach approximately 90 lakhs in sales next quarter, marking an 80% growth.” The company plans to expand its presence to nine states and secure additional MT partnerships, solidifying its position in the market.

As Crrunchy continues to grow, its strategic focus remains clear. By prioritizing the South Indian and global markets, and leveraging both offline and quick commerce channels, Crrunchy is well-positioned to become a major player in the healthy snacking industry.

Continue Exploring: Healthy snack brand Mr Makhana to hit UK shelves, talks with Tesco and Sainsbury’s underway

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Rapid growth of Zomato and Swiggy to dent QSR sales: BNP Paribas Report

Zomato-swiggy

The swift growth and increasing popularity of foodtech giants Zomato and Swiggy are expected to negatively impact sales in the quick-service restaurant (QSR) sector, which includes pizza and burger chains, according to a report by brokerage BNP Paribas.

The brokerage’s QSR Tracker report highlighted that Zomato’s average monthly active restaurant partners increased dramatically to 2.70 Lakh by FY24, up from 61,000 in FY19. Meanwhile, listed QSR chains had a total of 5,300 stores combined as of FY24.

Meanwhile, Swiggy, which is gearing up for an IPO, boasted 22.72 Lakh active restaurants on its platform by the end of FY23.

Continue Exploring: Zomato and Swiggy prioritize order frequency to drive growth amid slow user acquisition

“This indicates that the scale of these companies has grown significantly over the past few years, which helped to improve consumer reach, particularly for smaller restaurants,” said the report.

According to analysts at the brokerage, the number of restaurants operating on Zomato surged to 51 times the total branded QSR (Quick Service Restaurant) stores in FY24, up from 22 times in FY19, with expectations for this trend to continue expanding rapidly.

“With the growing number of options available to customers, sales are expected to become more fragmented. This further undermines the QSR industry’s already low average daily sales, which are exacerbated by overall demand weakness,” they explained.

Continue Exploring: Food delivery app Thrive hits record highs in consumer numbers and orders, unveils ‘Faves’ loyalty program and expands restaurant portfolio

Revenue and Sales Trends in the QSR Sector

The report highlighted that revenue growth for listed QSR companies dropped by 9% year-on-year in Q4 FY24, compared to an 18% rise in FY23 for the corresponding quarter. This decline primarily stems from factors such as subdued demand, prevailing macroeconomic conditions, and decreased consumer spending, among other contributors.

Even amid low demand and sluggish sales growth, QSR companies have affirmed their intentions to proceed with opening new stores or investing in capital expenditure, as per the report.

Jubilant FoodWorks, Devyani International – a franchisee of Yum Brands (KFC & Pizza Hut) in India, and Restaurant Brands Asia, operator of Burger King, stand out as prominent QSR brands in India aiming to expand their outlet count in the country.

The report comes at a time when both Zomato and Swiggy are actively working to expand their restaurant offerings and bolster support for establishments already on their platforms.

Earlier this year, Swiggy rolled out a marketing feature named ‘Smart Links,’ allowing restaurants to seamlessly guide customers from social media and ads to their menu pages within the food delivery app. Additionally, it initiated a digital learning academy in support of its restaurant partners’ development last year.

Continue Exploring: Swiggy unveils ‘Smart Links’ to enhance restaurant visibility and boost orders

In January, Zomato introduced a daily payout option for select restaurants.

However, Swiggy raised its restaurant collection fee to 2% last year following Zomato’s implementation of a comparable ‘payment gateway fee’ of approximately 1.8% on all orders.

Moreover, both platforms have implemented platform fees, which appear to have bolstered their revenues without significantly affecting the demand for their services.

Financial Performance of Zomato and Swiggy

Zomato saw its consolidated profit soar to INR 175 Cr in Q4 of FY24, marking a 26% increase from INR 138 Cr in the corresponding quarter of the previous year. Meanwhile, its operating revenue for the same period surged by 73% to INR 3,562 Cr in Q4 FY24 compared to INR 2,056 Cr in Q4 FY23.

Similarly, Swiggy experienced a 40% surge in operating revenue, reaching INR 8,264 Cr in FY23, up from INR 5,704 Cr in FY22.

In the midst of these developments, Swiggy is gearing up for its IPO, expected to include a fresh issue valued at INR 3,750 Cr alongside an offer-for-sale component totaling INR 6,664 Cr.

As smartphone usage grows and online food ordering becomes more widespread, the country’s food delivery market is projected to expand rapidly, reaching 34.66 Cr users by 2028, according to Statista.

Continue Exploring: Food delivery app surge leaves QSRs struggling with revenue and margins amidst fragmented sales: BNP Paribas Report

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Radico Khaitan’s Morpheus Brandy sells 1 Million cases for consecutive years, commands 64% market share in premium segment

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Morpheus Brandy
Morpheus Brandy

Morpheus Brandy, crafted by Radico Khaitan Limited, an Indian Made Foreign Liquor (IMFL) company, has achieved sales of one million cases for consecutive years. The company asserts Morpheus to be the first premium brandy to reach this milestone and has captured a 64 per cent share of the premium brandy market in India.

Building upon the success of Morpheus XO Brandy, Radico Khaitan introduces a more premium extension to its brandy portfolio: Morpheus Blue XO Premium Brandy.

Continue Exploring: Radico Khaitan’s Magic Moments Vodka achieves remarkable milestone, sells 6.3 Million cases, surpassing INR 1000 Crores in FY24

Abhishek Khaitan, Managing Director of Radico Khaitan Limited, expressed, “Morpheus Brandy, our inaugural offering in the premium segment, has attained remarkable success, emerging as a trailblazer within the industry. Its nationwide presence across 25 states signifies the realization of a dream, marking it as the first brandy to achieve true national recognition. This milestone underscores our steadfast dedication to excellence and the enduring trust of our consumers.”

He further noted that Morpheus primarily sells in the southern states, emphasizing that the company had always envisioned it as a national brand.

Morpheus Brandy’ Global Reach

Morpheus is presently exported to 27 countries, with its blend meticulously crafted using aged eau-de-vie sourced from grapes.

The brandy has garnered numerous Monde Selection Awards in 2021, 2022, and 2023, alongside various other industry accolades both on a global and local scale.

Continue Exploring: Radico Khaitan reports 26.43% rise in Q4 FY24 net profit

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