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

May 23, 2024

Beauty e-commerce giant Nykaa has announced a significant restructuring of its business divisions.

The company’s board has given the green light for parent FSN E-Commerce to acquire the western wear and accessories business of Nykaa Fashion Limited for a cash sum of INR 133.7 Cr.

The company stated in a regulatory filing with the BSE that the Board has sanctioned the acquisition of Nykaa Fashion Limited’s western wear and accessories business as a going concern on a slump sale basis. This acquisition will be carried out in accordance with the business transfer agreement between the company and the transferor company.

Continue Exploring: Beauty platform Nykaa grants 4.05 Lakh ESOPs ahead of Q4 results

According to Nykaa, the decision to transfer the western wear and accessories business to Nykaa Limited aligns with their strategy to streamline and centralize owned brand operations within one entity. The transaction is anticipated to finalize by September 2024.

In addition, Nykaa obtained board approval to integrate its content delivery subsidiary, Little Black Book (LBB), with Nykaa Fashion. Initially, it disclosed the transfer of its entire ownership in LBB’s parent company, Iluminar Media, to Nykaa Fashion. Shortly thereafter, the board granted its preliminary consent to merge LBB with Nykaa Fashion.

According to the company, the stake transfer will be finalized by December 2024.

The transactions concerning Nykaa Fashion and LBB will require approval from various parties, including the National Company Law Tribunal (NCLT) and the company’s shareholders.

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

In a filing, Nykaa stated, “The Scheme of Amalgamation will be presented to the Boards of both companies for approval at an appropriate juncture and will be contingent upon obtaining necessary endorsements from the National Company Law Tribunal, shareholders, creditors of both entities, and any other requisite regulatory clearances.”

This development comes as Nykaa released its financial results for the quarter ended March 2024. The beauty ecommerce major experienced a significant downturn in its consolidated net profit, plummeting by nearly half (48% to be precise) sequentially to INR 9.07 Cr in Q4 FY24 from INR 17.45 Cr in the previous quarter.

However, on a year-on-year (YoY) basis, profits surged by 1.2 times from INR 4.27 Cr in Q4 FY23.

At the same time, there was a 6% quarter-on-quarter decline in operating revenue, amounting to INR 1,667.9 Cr in Q4 FY23; however, there was a notable 28% year-on-year increase.

Continue Exploring: Nykaa continues strong growth trajectory: Q3 net profit doubles YoY to INR 17.4 Cr

The restructuring coincides with the company’s announcement of an additional 4.05 lakh stock options under its Employee Stock Option Policy (ESOPs) scheme, which was made public just a day before the Q4 results.

The results were announced shortly after the markets closed on Wednesday. Nykaa’s stock ended the day nearly 1% higher at INR 179.05 on the BSE.

whpjewellers bags $10 Million in funding to boost online jewellery market in India

SnackTeam

May 23, 2024

In the thriving landscape of e-commerce, whpjewellers is swiftly rising as a frontrunner in India’s direct-to-consumer jewellery market. Committed to delivering a hassle-free and enjoyable shopping journey, this platform is on track to becoming a ubiquitous name nationwide. Catering to women, men, and children with a diverse array of collections, whpjewellers serves as a go-to destination for all fashion needs, cementing its significance in India’s retail scene.

The platform boasts a wide array of offerings, spanning from gold and diamond rings, earrings, pendants, necklaces, mangalsutras, bangles, to bracelets. For men seeking sophistication, there are elegant chains, rings, and bracelets available. Delicate designs adorn the children’s line, featuring earrings, pendants, and bracelets. Introducing Anayra, a line of Sterling 92.5 Silver Jewellery tailored for younger women. The Silver collection extends to include various puja articles, from utensils to idols. Noteworthy is the 9Ratna collection, presenting a diverse selection of colored gemstones.

Continue Exploring: Bengaluru-based jewellery marketplace Eternz secures $1.15M pre-seed funding led by Kae Capital

whpjewellers is dedicated to ensuring a safe and intuitive shopping experience for its customers. With features like secure payment systems, swift delivery options within 24-48 hours, flexible payment plans such as EMIs and insurance coverage, personalized jewellery services, try-at-home options, and a committed customer care team, the company showcases its customer-focused approach. Founder Aditya Pethe underscores the immense growth potential of the Indian online jewellery sector, noting that in 2019, it was valued at $850 million and is projected to reach $3.7 billion by 2025, with a staggering CAGR of 28 percent. Leveraging unique and tailored offerings, whpjewellers is poised to seize a substantial market share.

In a recent achievement, whpjewellers marked a significant milestone by securing $10 million in its inaugural funding round from a Singapore-based investment firm. This injection of capital serves as a testament to investor faith in the company’s prospects and strategic vision. While pushing boundaries in expansion and innovation, whpjewellers stays committed to its ethos of offering “Something Special for Everyone,” further cementing its stature as a leading jewellery shopping hub in India.

Continue Exploring: Plain gold jewellery exports surge by 27.45% to $342.27 Million in April 2024

ITC leverages innovative packaging and product premiumization to elevate customer experience

SnackTeam

May 23, 2024

ITC, a diversified conglomerate, is focusing on enhancing product experience and shelf life while promoting sustainability through innovative packaging. The company is also managing costs through structural reengineering and elevating product quality to meet the evolving needs of consumers, according to Biswarup Chakrabarty, General Manager and Head of Packaging Development at ITC Foods.

In a fiercely competitive market, ITC has rolled out packaging advancements, including the circular noodle block for YiPPee! noodles, breathable packs for Aashirvaad atta, and a diverse array of paper-based packaging for its entire product range. Additionally, the company is actively curbing plastic consumption while expanding its range of recyclable packaging alternatives.

Continue Exploring: ITC sees untapped market potential for YiPPee! Noodles, aims for further growth in the North region

In addition to prioritizing innovations, the company is reducing its plastic usage. ITC Foods brands have launched a variety of paper-based packaging for several products. Moreover, they are focusing on incorporating recycled plastic and recyclable packaging solutions.

Over recent years, e-commerce has emerged as an indispensable avenue for FMCG, with its significance steadily amplifying. Additionally, it’s morphing into fresh formats such as quick commerce, characterized by distinct product handling methods, as noted by the company.

ITC aims to render its packaging channel-neutral, as crafting separate packaging for each channel poses a significant supply chain challenge. However, not all products can employ identical packaging for the e-commerce supply chain.

Chakrabarty remarked on the divergence in packaging across channels, stating, “We craft unique secondary packaging or SKUs tailored for e-commerce, working closely alongside the respective channels.”

Continue Exploring: ITC Aashirvaad expands portfolio, launches ‘Himalayan Pink Salt’ with no added colors

Despite current limitations, ITC expects biodegradable packaging materials to be used more frequently. Chakrabarty stressed that, while recycling is still economically beneficial, non-recyclable items such as small wrappers as well as wet food containers require biodegradable solutions.

With advancements in barrier technology, ITC anticipates a wider acceptance of paper-based solutions, which will improve sustainability and efficiency in the FMCG sector.

Pret A Manger expands footprint in India with new outlet launch in Delhi’s upscale Khan Market

SnackTeam

May 22, 2024

Pret A Manger, the renowned food and organic coffee chain, has unveiled its new outlet in Delhi, as announced in a social media post by a top company executive.

In India, Pret is managed by Reliance Brands, and the latest outlet can be found on the first floor above the Hamster London and Samsonite store in upscale Khan Market, Delhi—a locale known for its high rental rates, ranking among India’s most expensive markets.

Continue Exploring: Reliance ventures into the coffee industry with the opening of Pret A Manger’s first shop in Mumbai

Dhiraj Singh, General Manager of Real Estate & Business Development (India) at Reliance Brands Ltd, announced on LinkedIn, “Pret a Manger. Now welcoming customers at Khan Market, Delhi.”

The coffee chain recently inaugurated its 14th store in the country at the DLF Mall of India in Noida.

Continue Exploring: Pret A Manger continues growth in India, unveils 14th store in Noida’s DLF Mall of India

Established in London in 1986, Pret A Manger ventured into India through a partnership with Reliance Brands, a retail arm of Reliance Industries. Presently, the café chain operates in Mumbai, Gurugram, Noida, and Delhi.

Reliance Brands, a subsidiary of Reliance Retail Ventures Ltd, commenced its operations in 2007 with a mission to introduce and develop global brands within the luxury to premium sectors encompassing fashion and lifestyle.

Continue Exploring: Swiggy and Pret A Manger team up to offer online delivery of freshly made delights and organic coffees

Jubilant Foodworks’ Q4 net profit rises multi-fold to INR 208.24 Cr

SnackTeam

May 22, 2024

Jubilant Foodworks Limited, which owns popular fast-food brands Domino’s Pizza and Dunkin’ Donuts, reported a multi-fold increase in consolidated net profit to INR 208.24 crore for the fourth quarter ended March 2024, helped by exceptional item gains.

The company had recorded a net profit of INR 28.54 crore in the January-March quarter of the previous fiscal year, according to a regulatory filing from Jubilant Foodworks Ltd (JFL).

During the quarter, its revenue from operations increased by 23.85% to INR 1,572.79 crore, compared to INR 1,269.84 crore in the corresponding period last year.

In the March quarter of FY24, the total expenses of JFL, India’s largest food service company, surged by 28.23% to INR 1,545.47 crore.

Continue Exploring: Jubilant FoodWorks launches aggressive 360-degree rebranding for Domino’s

The company’s total income, including other income, rose 23.61% to INR 1,594.12 crore in the March quarter.

During FY24, Jubilant Foodworks Netherlands BV, its wholly-owned subsidiary, increased its stake in DP Eurasia NV (DPEU) by acquiring an additional share for a total consideration of INR 7,70.26 crore. This move raised its ownership in the company to 94.33%. DP Eurasia NV serves as the exclusive master franchisee of the Domino’s Pizza brand in Turkey, Azerbaijan, and Georgia.

Continue Exploring: Jubilant Foodworks to acquire remaining 45.33% stake in DP Eurasia through 85.1 Million Euro open offer

“The deal has led to DPEU becoming a subsidiary of JFN… As a result, a gain of INR 170.16 crore from the remeasurement of previously held equity interest at the fair value on the acquisition date has been reported under exceptional items in the financial results,” the statement explained.

In the March quarter, its profit before exceptional items and tax amounted to INR 54.86 crore, compared to INR 53.40 crore in the corresponding period of FY23.

In the Indian market, JFL’s revenue from operations reached INR 1,331.3 crore, marking a growth of 6.3%, primarily propelled by a 4.9% increase in Domino’s India.

The company’s revenue from the international market stood at INR 242.7 crore, largely influenced by a revenue contribution of INR 217.4 crore from Turkey, Azerbaijan, and Georgia over two months.

In the March quarter, JFL inaugurated 23 stores across all its international markets.

For fiscal year 2024, JFL’s consolidated net profit amounted to INR 400.07 crore, compared to INR 353.03 crore in the preceding year.

In FY24, its revenue from operations grew by 9.61% to reach INR 5,654.08 crore.

Continue Exploring: Jubilant Foods expects Popeyes to hit INR 1,000 Crore sales mark in 3-4 years, plans rapid expansion

In FY24, JFL experienced a “record opening of 356 stores,” expanding the JFL Group Network to 2,991 stores across six markets: India, Turkey, Bangladesh, Sri Lanka, Azerbaijan, and Georgia.

JFL holds franchise rights for five brands, including Domino’s, Popeyes, and Dunkin’ in emerging markets, alongside two in-house brands: Hong’s Kitchen, an Indo-Chinese QSR brand in India, and COFFY, a CAFE brand in Turkey.

In a separate filing, JFL announced that its board, in a meeting held on Wednesday, approved a 60% dividend, amounting to INR 1.20 per equity share with a face value of INR 2 each for the financial year 2023-24.

On Wednesday, shares of Jubilant Foodworks settled at INR 479.15 apiece on BSE, down 0.13%.

Continue Exploring: Jubilant FoodWorks ramps up Domino’s value offerings amidst QSR downturn

SoftBank-backed hospitality giant OYO withdraws IPO documents, shifts focus to $450M bond sale

SnackTeam

May 22, 2024

OYO, a Delhi NCR-based hospitality unicorn, has officially withdrawn its IPO (initial public offering) documents from the market regulator SEBI. According to the SEBI document, the company has officially withdrawn its IPO papers on May 17, 2024.

This development comes as OYO intends to raise $450 million through the sale of dollar bonds, with JP Morgan expected to lead the financing.

It’s reported that securing $450 million in funding will lead to significant alterations in OYO’s financial reports. According to regulations, OYO must amend its DRHP and submit it to the market regulator with the revised figures.

Continue Exploring: Oyo Hotels plans $450 Million bond sale for refinancing

The startup aims to raise this capital to pay off its term loans of approximately $1.2 billion, which were taken in 2021.

Earlier this week, reports indicated that OYO is seeking new funding at a reduced valuation. The startup reportedly engaged Incred to facilitate discussions with family offices, aiming to raise approximately $80 million to $90 million at a valuation of $2.3 billion. This valuation represents a 77% decrease from the $10 billion valuation of its previous external funding round.

Continue Exploring: OYO in talks with family offices to raise $90 Million in down round

This $80 million to $90 million is reportedly part of a larger funding round that could include a sovereign fund. Earlier, OYO was reported to have discussed raising capital with Malaysia-based sovereign fund Khazanah Nasional Berhad at a lower valuation, but OYO has denied reports of a down round and has not confirmed any talks with Khazanah.

Established in 2012 by Ritesh Agarwal, OYO provides a diverse range of accommodations including holiday homes, casino hotels, coworking spaces, budget hotels, and corporate stays. The company has amassed over $3.5 billion in funding so far, with notable investors such as Peak XV Partners and Microsoft.

In February of this year, Agarwal stated that the startup had achieved its second consecutive profitable quarter. During Q3, the startup reportedly recorded a profit of INR 30 Cr, marking a 2X increase from the INR 16 Cr reported in its initial profitable quarter.

Continue Exploring: JP Morgan extends INR 200 Crore credit facility to fuel Oyo’s expansion

In FY23, the startup’s net loss was INR 1,286.5 Cr, down 34% from INR 1,941.5 Cr in FY22, according to data that is available to the public. There was a 14% rise in operating revenue as well, from INR 4,781.3 Cr in the previous fiscal year to INR 5,463.9 Cr in FY23.

In September 2021, OYO submitted its Draft Red Herring Prospectus (DRHP) to raise INR 8,430 Cr ($1.2 Bn) via an initial public offering.

D2C brand WOW Skin Science in talks for $75 Million funding round

SnackTeam

May 22, 2024

Karan Chowdhary and Manish Chowdhary, Co-Founders, WOW Skin Science

WOW Skin Science, the direct-to-consumer skincare brand with notable backers like GIC and ChrysCapital, is reportedly in discussions with both current and prospective investors to secure fresh funding at a flat valuation.

The Bengaluru-based startup is aiming to raise between $65 million to $75 million in primary capital, maintaining a valuation of $400 million, matching the figure from its previous round in 2022 when GIC injected $48 million, as reported by Mint.

Reports indicate that WOW is currently in discussions with Japanese and Middle East-based funds for this funding round.

“The company has enlisted investment bank Investec to oversee the fundraising process, with consulting firm KPMG handling vendor due diligence,” cited one of the sources. “It’s still early stages, and the specifics of the fundraising will be determined in the months ahead.”

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

Established in 2014 by Karan Chowdhary and Manish Chowdhary, WOW Skin Science asserts its commitment to crafting products using natural ingredients, devoid of sulphates, silicones, mineral oils, parabens, and artificial coloring. Their product range spans skincare, haircare, bathing essentials, fragrances, and nutritional supplements.

The brand competes with Plum, Honasa, Good Glamm Group, The Ayurveda Co, and various other players in the Beauty, Personal Care (BPC) sector. It also contends with newcomers like Gabit and The Minimalist.

Based on the company’s MCA filings, it recorded a total income of INR 273.01 Cr in FY23, down from INR 343.94 Cr in the previous fiscal year. Additionally, the loss increased to INR 213 Cr from INR 135 Cr in FY22.

Continue Exploring: WOW Skin Science redefines skincare with innovative sunscreen range for Indian skin

In the direct-to-consumer (D2C) sector, beauty, skincare, and personal care brands are gaining significant traction, largely due to omnichannel distribution and the growing popularity of quick commerce among consumers. Reports suggest that the projected count of online beauty shoppers in India will surpass 122 million by FY25.

We have been reassessing our narrative over the last 18 months, prioritising brand marketing over performance marketing. One of the co-founders, Manish Chowdhary, said, “It’s crucial to keep in mind that although a company’s products are manufactured in a factory, their brand is ultimately formed in the perceptions of consumers.”

The company’s products are now available in over 200 cities across India and have expanded to 22 countries, with a particular focus on the US and South Asia as key markets. In 2022, they successfully entered the UAE market, followed by Saudi Arabia in 2023.

Continue Exploring: WOW Skin Science partners with Dukaan to strengthen D2C channel and provide seamless shopping experience

Ochre Spirits nears completion of INR 3 Cr pre-seed funding, targets 10% market share in premium flavoured spirits over next four years

SnackTeam

May 22, 2024

Ochre Spirits, a Goa-based flavoured spirit brand, is aiming to capture more than a 10 percent share of the premium flavoured spirits segment and a 5-7 percent share of the craft spirits market within the next four years, according to John Royerr, Founder of Ochre Spirits.

It also has its sights set on achieving a INR 100 crore brand status within the next four years.

“For the fiscal year 2024-2025, we project a negative EBITDA of approximately 18-19 percent. However, in the subsequent fiscal year, we anticipate improvement to a negative 2-3 percent, with the goal of transitioning to positive returns by the fiscal year 2026-2027. Presently, our growth rate stands at 35 percent month-on-month,” he elaborated.

The brand, presently operating solely in Goa, is poised for expansion into new territories such as Karnataka and Puducherry in the near future. By the following fiscal year, it targets extending its reach into states like Maharashtra, Haryana, and Kolkata.

“Furthermore, we have been exploring export prospects to the UAE and are currently in discussions with distributors in that region,” he said.

Continue Exploring: United Spirits acquires 15% stake in alcohol beverage brand Pistola

At present, the brand is available in approximately 185 retail outlets and 40 on-premises institutional outlets. By the end of July, it aims to increase its presence to 350 retail outlets and around 120 on-trade outlets, encompassing bars and restaurants.

Moving forward, the brand is diversifying its product lineup. Currently, it features three gin variants, three vodka variants, and two rum variants.

At present, rum accounts for 65 percent of the brand’s sales, with the remaining 35 percent attributed to vodka.

During the second quarter of fiscal year 2024, the brand plans to introduce two new flavoured gin variants along with a citrus-flavoured rum. Additionally, it aims to debut its line of agave spirits by the fiscal year’s end. Furthermore, it is strategizing the launch of sparkling and spring water under the same brand to diversify its revenue streams.

This multifaceted strategy not only takes into account the wide range of consumer tastes, but it also makes us more noticeable on store shelves. Our brand is better positioned to draw customer interest and boost sales within each particular category by stretching across segments like gin, vodka, and rum,” he stressed.

Ochre Spirits has inaugurated a ‘Tasting Room’ in Goa, with plans to replicate this concept in Bangalore, Pondicherry, Mumbai, and Gurgaon in the near future.

Continue Exploring: Bacardi India intensifies focus on premiumization as demand for high-end spirits surges

“The Tasting Room currently features three spirit categories, showcasing nine distinct flavoured spirits exclusively available at the venue. Additionally, we plan to expand our selection to include over 15 flavoured spirits by November of this year,” he said.

Currently, the brand utilizes contract manufacturing to oversee its production operations based in Goa. It has set a target to produce 10,000 cases for this year.

“Moving forward, we are in talks with another facility in order to secure a production capacity of 22,000 cases,” he said.

Since our launch in April, we’ve garnered a positive response. We’re now intensifying our marketing and PR initiatives to enhance awareness.

The bootstrapped brand is currently finalizing a pre-seed funding round of INR 3 crore, with INR 2 crore secured from friends, family, and a family office.

“We anticipate concluding this funding within the next couple of months. These funds will be allocated towards marketing, operations, team expansion, and production,” he concluded.

Continue Exploring: Indigenous spirits shine: India’s liquor exports soar, set to break $1 Billion barrier

Mamaearth parent Honasa Consumer ordered to pay INR 56.6 Crores compensation to UAE distributor

SnackTeam

May 22, 2024

Honasa Consumer Ltd, Mamaearth‘s parent company, has been directed by a UAE court order to pay compensation totaling INR 56.6 Crores to a former distributor. This development comes just ahead of the company’s earnings call for the fourth quarter of FY24.

The United Arab Emirates’ Court of full Commercial Jurisdiction-(Court of First Instance) Dubai has ordered Honasa to compensate RSM General Trading, its former distributor in the Middle East and Africa markets, for improper contract termination.

RSM General Trading served as Honasa’s distributor from July 30, 2020, until January 17, 2023.

Continue Exploring: Mamaearth parent Honasa Consumer plans merger of two subsidiaries to eliminate cost duplication and enhance efficiency

In a filing with the exchange, the company stated that on May 16, the court issued an order to pay its former distributor a fine of AED 25.07 million, equivalent to approximately INR 56.6 crores, as compensation. Additionally, the court mandated a legal interest rate of 5% from the date the judgment becomes final until full payment is completed, along with AED 1,000 (INR 22,665) as attorney fees.

Nevertheless, Honasa stated that it considers the court’s decision to be without merit and therefore insignificant to its operations.

“The Company holds the view that the judgment lacked merit and was erroneous, as it failed to properly consider the facts and submissions presented by the Company. Consequently, the Company is currently in the process of filing an appeal with the Court of Appeal (Dubai) to contest the ruling issued by the Court of First Instance,” stated the company.

Honasa terminated its partnership with the distributor a few months before its public listing in India. Prior to being listed in November 2023, the company had intentions to bolster its international expansion endeavors, with a focus on Bangladesh, Malaysia, Vietnam, and Thailand.

During that period, the company was actively seeking to broaden its footprint in the UAE through strategic acquisitions or organic growth. However, these initiatives appeared to have been delayed as a result of the termination of the contract with RSM General Trading.

Currently, it remains uncertain whether Honasa has ventured into international markets with alternative distributors.

Continue Exploring: Mamaearth parent Honasa Consumer sees 250% YoY surge in net profit to INR 26.1 Crore in Q3FY24

In addition to the flagship brand Mamaearth, Honasa possesses and manages The Derma Co, Aqualogica, Ayuga, Dr. Sheth’s, BBlunt, and Momspresso. However, Momspresso was closed down prior to the IPO.

Following its initial public offering, Honasa has experienced a robust surge in profits. In the third quarter of FY24, it recorded a remarkable 264% rise in its consolidated net profit, climbing to INR 25.9 Crores from INR 7.1 Crores in the corresponding quarter of the previous year.

Nevertheless, this represented an 11% sequential decrease from the INR 29.4 Crore profit it reported in the preceding September quarter.

DS Group targets INR 5,000 Cr sales from confectionery business in 5 years, eyes expansion into tier II and III cities

SnackTeam

May 22, 2024

Dharampal Satyapal Group (DS Group), a domestic FMCG company, aims to achieve a revenue of INR 5,000 crore in the next five years from its confectionery division. This goal comes after surpassing the INR 1,000-crore milestone in 2023-24, as stated by a senior company official. The conglomerate, renowned for its brands like Pulse, Pass Pass, Rajnigandha Pearls, Chingles, Pulse Natkaare, and LuvIt in the confectionery segment, plans to expand its sales outlets in India to approximately 50 lakh within the next five years, a significant increase from the current 26 lakh outlets.

“Our confectionery division has seen a growth of over 20% in the past three years, while the industry has grown at 9%,” shared Dharampal Satyapal (DS) Group Vice Chairman Rajiv Kumar. “We have surpassed the INR 1,000-crore sales turnover mark in 2023-24. Our next target is to reach INR 5,000 crore within the next five years.”

Continue Exploring: DS Group’s confectionery business achieves INR 1,000 Cr sales in FY24

He also mentioned that the group intends to boost the confectionery business, aiming for a Compound Annual Growth Rate (CAGR) of around 30% over the next five years, employing both organic and inorganic growth strategies.

Regarding investments, he noted that there won’t be substantial investments in manufacturing since it is outsourced to third-party facilities across India.

Continue Exploring: FMCG giant DS Group appoints Jyotiroop Barua to lead confectionery business

Nevertheless, he mentioned that expenditures on advertising and promotions would be ramped up as needed. In the fiscal year 2023-24, the group allocated INR 100 crore for advertising in the confectionery category.

“We’re expanding our footprint in South India. Within the next year, we aim to double our outlets to a minimum of 50 lakh from the current 26 lakh. Our focus will be on tier II and III cities as well as rural markets,” Kumar stated.

Continue Exploring: DS Group’s Catch Spices hits INR 1,000 Crore in sales, plans expansion into ready-to-cook and digital-first products

“At present, the company holds a dominant position in North and East India, with plans underway to broaden its presence in South and West India,” he added.

Looking ahead, he mentioned that the company will sustain its leadership in the Hard-boiled Candy (HBC) and Indian ethnic confectionery (IEC) segments, while also venturing into new segments like chocolate.

Continue Exploring: DS Group boosts portfolio with acquisition of LuvIt Chocolate brand, solidifying market position

“Moving forward, our objective is to enhance our influence in the chocolate market while tactically advancing our leadership in the Indian ethnic confectionery domain with inventive product lines,” Kumar stated.

As part of the company’s sustainability drive, he mentioned that DS Group currently utilizes more than 800 electric vehicles for distributing confectionery products and plans to expand this fleet in the future.

Continue Exploring: DS Group brings Italian luxury to India with first Brioni boutique in Delhi

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