Mondelēz has unveiled its new $5 million Regional Biscuit and Baked Snacks Lab and Innovation Kitchen in Singapore, demonstrating its dedication to innovation and product enhancement to cater to the changing preferences of consumers in Southeast Asia, Australia, New Zealand, and Japan.
Chan Ih-Ming, Executive Vice President of the Singapore Economic Development Board (EDB), Chargé d’affaires Casey Mace, Deputy Chief of Mission at the U.S. Embassy in Singapore, Deepak Iyer, Executive Vice President and President of AMEA at Mondelēz, and Marco Michielsen, R&D Lead for SEA & VP of Biscuits and Baked Snacks at Mondelēz, were among the distinguished guests at the event.
The Lab and Innovation Kitchen stand as a strategic regional hub driving creative development and innovation in the biscuits and baked snacks category. This latest investment underscores Mondelēz’s commitment to Singapore and the wider region, fostering an environment that facilitates product innovation and continues to cater to evolving consumer demands.
Mondelēz International operates in over 150 countries, encouraging responsible snacking worldwide. With 2023 net revenues hovering around $36 billion, MDLZ leads the snacking industry’s evolution through its globally recognized brands like Oreo, Ritz, LU, Clif Bar, and Tate’s Bake Shop biscuits and baked snacks, alongside Cadbury Dairy Milk, Milka, and Toblerone chocolates. Proudly listed on the Standard and Poor’s 500, Nasdaq 100, and Dow Jones Sustainability Index, Mondelēz International prioritizes both quality snacks and sustainable business practices.
The Coca-Cola system, composed of The Coca-Cola Company and its licensed bottler Coca-Cola Beverages Africa, has announced its intention to increase its investment in Kenya by up to $175 million over the next five years, conditional upon achieving its anticipated growth targets in the country.
The CEO of Coca-Cola Beverages Africa, Sunil Gupta, hosted Kenyan President H.E. Dr William Ruto to The Coca-Cola Company’s headquarters in Atlanta and said, “The Coca-Cola system has been an integral part of Kenya’s landscape for more than 75 years.” We are thrilled to declare today that we plan to make a sizable commitment to further solidify this heritage.”
“This investment aims to expedite the capacity and capability expansion of the Coca-Cola system over the next five years. Our choice to invest highlights our confidence in the enduring potential of Kenya’s economy,” Gupta remarked.
The president of The Coca-Cola Company’s Africa Operating Unit, Luisa Ortega, stressed the value of working with the government to establish solid policy frameworks. For almost 70 years, we have been a part of the community. Over the ensuing years, we look forward to expanding our company and helping Kenyan communities,” Ortega stated.
With a profound legacy of refreshing Africa and contributing to the East Africa region, the Coca-Cola system serves as a significant employer, directly engaging 10,000 individuals.
Furthermore, the Coca-Cola system collaborates with more than 500,000 Micro, Small, and Medium Enterprises throughout the region, establishing a direct link to the collective experiences of numerous businesses in Kenya and across the East African region.
“Our value chain sustains livelihoods for over a million individuals in distribution, sales, and various other roles,” Gupta remarked. “We procure nearly 8,000 metric tons of mango puree from East African farmers. We have faith in the region’s potential and its capacity for substantial growth through collaboration between the public and private sectors. Our operations in Kenya prioritize a local approach – we recruit locally, manufacture locally, distribute locally, and procure locally.”
“We are optimistic and wholeheartedly dedicated to Kenya’s future. We anticipate significant social and economic progress, which is why we persist in investing in our Kenyan operations along with community initiatives aimed at enhancing Kenya’s prosperity,” Ortega concluded.
Burger King, under the umbrella of Restaurant Brands International, is set to unveil a new $5 meal deal in the United States, as reported by Bloomberg. This offer will feature a choice of one of three sandwiches, alongside nuggets, fries, and a drink.
In early April 2024, Burger King franchisees voted in favor of the $5 Your Way Meal, potentially rolling out the offer before a similar one from rival chain McDonald’s.
Burger King intends to extend its $5 promotion for several months.
In May 2024, McDonald’s unveiled its $5 meal, slated to kick off on June 25th and run for a month. The meal bundle will feature either a McChicken or McDouble, accompanied by four chicken nuggets, fries, and a beverage.
Wendy’s and Chili’s are among the other restaurant chains elevating their value offerings. Wendy’s is introducing a $3 breakfast sandwich, while Chili’s is launching a burger combo starting at $10.99.
These offerings underscore the industry’s endeavor to appeal to budget-conscious consumers.
As per a survey carried out by financial institution LendingTree, 78% of Americans currently perceive fast food as a luxury, mainly due to escalating expenses.
As the cost margin between quick-service and fast-casual restaurants diminishes, certain customers are opting to invest slightly more at establishments like Chipotle rather than traditional burger chains.
The CEO of Restaurant Brands International has recognized that customers are becoming more attuned to pricing, while the CEO of McDonald’s has stressed the importance of maintaining a “laser focus on affordability.”
Burger King is experimenting with two additional value propositions that may be ready for launch in the latter part of 2024.
After a surge in spending across various segments—from clothing to automobiles—driven by revenge shopping in the post-pandemic period, India’s retail sales growth is now slowing down.
Excluding the pandemic year, Zara, the world’s largest clothing retailer, and Starbucks, the leading global coffee retailer, experienced their slowest ever sales growth in India during FY24.
Vedant Fashions, the parent company of the men’s ethnicwear brand Manyavar, noted that this marks the first instance of a weak wedding season persisting for five consecutive quarters. However, the company anticipates improved sales figures upon recovery, attributed partly to a lower base effect.
The retail sales growth witnessed a year-on-year decline every month in the previous fiscal, reflecting weak consumer sentiment across segments such as apparel, footwear, and quick-service restaurants (QSRs).
The Retailers Association of India (RAI) reported that the slower growth rate of 4-7% observed in the previous fiscal continued into this year, with April showing a 4% increase, according to a survey of the top 100 retailers.
Devarajan Iyer, CEO of Lifestyle International, India’s largest departmental store chain, said, “Pressure is evident across all sectors, particularly in tier II cities, where consumers are exercising caution with discretionary spending due to constrained disposable income. This deceleration appears poised to persist for an extended duration. We anticipate no signs of recovery for at least the next three to four months.”
Vedant Modi, Chief Revenue Officer at Vedant Fashions, expressed, “This situation presents a unique challenge, unprecedented in our experience. How we navigate through it will be equally unprecedented. Historically, after enduring five consecutive quarters of weakness, subsequent quarters often exhibit stronger growth.”
With the easing of Covid restrictions, pent-up demand sparked a surge in sales across athleisure wear, apparel, and lifestyle products. As offices reopened and social activities resumed, consumers upgraded their wardrobes, leading to consistent monthly growth of 13-24% throughout FY23.
However, this momentum has now waned.
Kumar Rajagopalan, CEO of RAI, remarked, “The recent deceleration isn’t necessarily a slowdown per se, as the post-pandemic growth was exceptionally high and inherently unsustainable.” He added, “Although we anticipated approximately 10% growth, the actual average was only 5%.”
He noted, “Approximately 70% of consumers, particularly those from the middle class, have increasingly opted for EMI options when purchasing high-value items like electronics and cars, compared to just 40% a few years back. This trend has impacted their disposable income, leading to reduced spending on discretionary items like clothing.”
According to analysts and industry executives, a recovery is anticipated only after a period of two to three quarters.
Several direct-to-consumer brands in the realm of social commerce are gradually carving out market share from larger, well-established brands. Dalip Sehgal, the CEO of Nexus Select, backed by Blackstone and overseeing 17 malls across the country, expressed concern over the performance of fashion brands. However, he noted that other sectors like electronics and beauty are experiencing growth rates of 18-20%, contributing to meeting their targets. Sehgal acknowledged the success of certain D2C fashion brands, emphasizing the need for existing brands to innovate. He remains optimistic, anticipating a better second half of the year.
The most recent annual report from Tata Consumer, Starbucks’ Indian joint venture partner, underscored a decline in demand across the Quick Service Restaurant (QSR) sector throughout FY24, leading to muted growth in same-store sales.
Westlife Foodworld, which manages McDonald’s restaurants in western and southern India, experienced a 5% decrease in same-store sales growth in the March quarter and a 1.5% decline over the last fiscal year.
Saurabh Kalra, managing director at Westlife Foodworld, informed investors that after multiple quarters of decline, out-of-home consumption trends in the fourth quarter remained relatively steady compared to the previous quarter. However, year-on-year, there is still a decrease in dining out frequency. Kalra expressed optimism, noting that the easing pressure on consumer budgets due to improved economic conditions and a slowdown in retail inflation is expected to positively influence discretionary spending. He anticipates a gradual improvement in the upcoming quarters.
This development comes shortly after the Indian retail giant Reliance Brands acquired the Italian brand. Following the acquisition, LensCrafters has swiftly opened new stores at Phoenix Mall of Millenium, Wakad, and Kopa Mall, Ghorpadi.
“Exciting news! LensCrafters has officially opened its doors at Kopa Mall and Mall of Millenium. Dive into a world of top-tier eyewear innovation and style, featuring a curated selection of designer brands and personalized vision solutions,” announced Reliance Brands Ltd. (RBL) on LinkedIn.
LensCrafters, a renowned prescription eyewear company, falls under the ownership of the Italian powerhouse Luxottica Group. Reliance Brands made the acquisition of LensCrafters from DLF Brands, which operated a network of LensCrafters-branded stores through a franchisee agreement.
RBL has additionally taken over a series of LensCrafters stores from DLF Brands, encompassing outlets situated in DLF Mall of India, Noida, and DLF Avenue Mall, Saket, New Delhi.
Established in 1983, LensCrafters stands as a prominent optical retailer in North America, boasting a network of over 1,000 stores across the US, Canada, and Puerto Rico. Among these are five flagship outlets situated in key cities such as New York City, San Francisco, Palo Alto, and Toronto. The inaugural Canadian flagship store debuted in July 2023.
In 2020, the brand made its debut in India with a store at DLF Mall of India in Noida. Their stores offer an array of brands, including Ray-Ban, Oakley, Versace, Coach, Michael Kors, Prada, and various other esteemed labels.
Reliance Brands Ltd., a subsidiary of Reliance Retail Ventures Ltd., commenced operations in 2007 with a mission to introduce and cultivate global brands in the luxury to premium sectors encompassing fashion and lifestyle. The company has established exclusive partnerships with renowned brands like Bottega Veneta, Tiffany & Co., Valentino, Balenciaga, and many more.
Neeman’s, a Hyderabad-based footwear brand, aspires to double its revenue to INR 200 crore this fiscal year, as revealed by a top company executive.
Taran Chhabra, founder of Neeman’s, stated, “In FY 2023-2024, our revenue surpassed INR 100 crore. Looking ahead to FY 2024-2025, we anticipate it to exceed INR 200 crore.”
Since the start of 2024, its representatives noted that the company has sustained a solid month-to-month growth rate of 15-20%, fueled by strategic internal reorganization and extensive expansion strategies.
Presently, the brand has over 11 stores in cities like Hyderabad, Mumbai, and Bengaluru. Additionally, Chhabra disclosed plans to open over 20 new stores across all major metro cities, aiming for a significant omnichannel presence.
Chhabra further emphasized, “Our omnichannel strategy encompasses a strategic expansion aimed at bolstering Neeman’s presence across various platforms.”
The company extends its reach internationally, with products available on Amazon UAE and 6th Street UAE, an omnichannel e-commerce fashion hub under the Apparel Group.
Chhabra emphasized, “Our primary focus remains on footwear, and we are committed to increasing our market share in this domain.” He added that in 2023, the company’s standout products were Sneakers, Slip Ons, and Loafers.
Neeman’s offers a wide range of products including sneakers, slip-ons, loafers, athleisure wear, flip flops, sandals, flats, and slides through its D2C website and offline stores. The prices vary between INR 300 and 2,500.
As per the company’s LinkedIn profile, it has secured a Series B funding of $5.2 million and employs technology to enhance customer experience, post-purchase services, and returns. The company collaborates with New Delhi-based e-commerce enabler GoKwik for these purposes.
Chhabra noted, “GoKwik’s technology-driven solutions have been instrumental in our journey of growth. Their support has significantly decreased return to origin (RTO) rates and improved the conversion rate of our checkout funnel, resulting in a more seamless and efficient customer experience.”
Aman Abdullah, Director of Market99, expressed, “We are thrilled to be in Kolkata – The City of Joy. Find us at Avani Riverside Mall, Howrah,” in a recent LinkedIn post.
Established in 1997, Market 99 provides a wide range of products starting from just INR 9. Their offerings include vases, artificial plants, jars, oil dispensers, trays, bowls, tea light holders, and diffusers across various categories such as jars and containers, dinnerware, serveware, tableware, kitchen tools, water bottles and holders, gifts and décor, bakeware and cookware, kitchen and dining, cups, mugs, napkin boxes, and bathroom accessories. With over 75 stores nationwide, Market 99 continues to expand its reach across India.
Fast&Up, India’s leading sports and health nutrition brand, has unveiled its latest innovation – Fast&Up Reload Ready-to-Drink. Tailored for athletes, fitness enthusiasts, and individuals embracing an active lifestyle, this groundbreaking beverage provides a hassle-free solution for sustaining energy levels and optimizing performance.
Fast&Up Reload Ready-to-Drink boasts a meticulously crafted formula comprising five crucial electrolytes: sodium, potassium, calcium, magnesium, and chloride. These essential elements aid in replenishing electrolytes lost during perspiration, thus maintaining an ideal fluid and electrolyte equilibrium. Distinguished from typical energy beverages, it contains a fraction of the sugar content and facilitates hydration twice as rapidly as water alone. Hence, it stands out as a superior option for revitalizing the body and staving off fatigue.
It contains 20 times less sugar than most other energy drinks on the market and hydrates twice as fast as water alone, helping to re-energize the body and prevent fatigue and exhaustion. Unlike its counterparts, Fast&Up Reload Ready to Drink is caffeine-free, with no artificial flavors or colors. Additionally, it’s enriched with Vitamin B12 & C, which aids in reducing muscle soreness and tiredness. Available in the refreshing lemon blast flavor, Fast&Up Ready to Drink offers a revitalizing option for replenishing energy.
Reload Ready-to-Drink can be found in retail outlets nationwide, as well as directly on the website, Zepto, Swiggy, and Blinkit, with prices starting from INR 60.
Caprese, India’s leading women’s fashion handbag brand, has appointed Bollywood actor Kiara Advani as its new brand ambassador. To mark this exciting collaboration, Caprese has unveiled its latest spring-summer 2024 collection under the banner of “The Kiara Collection.” This partnership reflects Caprese’s dedication to empowering women to embrace and express their individual sense of style.
Since its inception in 2012, Caprese has been curating a diverse selection of women’s handbags influenced by global fashion trends and the enchanting ambiance of Capri. Tailored for contemporary women aspiring for a touch of timeless grace and sophistication in their daily attire, the brand encapsulates the essence of elevated style.
Kiara’s flawless fashion sensibility, effortlessly fusing modern trends with enduring charm, harmonizes seamlessly with Caprese’s brand ethos. Whether it’s a day at the beach or a casual evening with friends, “The Kiara Collection” caters to every occasion, featuring a diverse range of totes, satchels, laptop bags, slings, and fashion backpacks, ensuring versatility and elegance for every woman.
“The Kiara Collection represents a captivating fusion of Bollywood allure and enduring sophistication, reshaping modern fashion trends. We’re excited to introduce a collection that not only exudes elegance but also uplifts women, turning everyday experiences into stylish escapades. Kiara’s collaboration with Caprese will reinforce our leading position in the fashion industry,” remarked the Marketing Head of Caprese.
Customers can find all these stunning pieces for purchase on Caprese’s website, as well as at nearby retail outlets and on e-commerce platforms such as Myntra and Nykaa. The Kiara Collection offers a diverse range of handbags priced from INR 2199 to INR 3999.
Big Hello, a boutique fashion label catering to plus-sized clientele, has unveiled four fresh retail outlets in Hyderabad. Situated in Kukatpally, Upperpally, Miyapur, and Panjagutta, these establishments showcase chic, premium attire and accessories tailored for both plus-sized gentlemen and ladies across the twin cities of Hyderabad and Secunderabad.
The new Hyderabad locations are crafted as ‘Experience Stores,’ boasting vibrant interiors, animated mannequins, and exceptional customer service, embodying the brand’s lively and inclusive ethos. Big Hello is pioneering in India by offering a dedicated lounge where customers can sit and shop in comfort, significantly enhancing their retail experience.
With this launch, Big Hello now boasts 11 physical retail stores across Bangalore, Chennai, Vijayawada, and Hyderabad. In addition to its e-commerce platform, the brand plans to open eight more stores in Hyderabad by the end of this financial year. Big Hello is owned by Absolute Brands and Retail Private Limited (ABRPL), a rapidly growing fashion retail company founded by Vishnu Prasad.
Vishnu Prasad, Founder and CEO of Absolute Brands and Retail Pvt Ltd (ABRPL), noted, “Hyderabadis are known for their penchant for expressing individual style through impeccably fitting attire. However, for many plus-sized individuals, sourcing such garments has been challenging. Big Hello’s arrival in Hyderabad addresses this issue, offering locals effortless access to top-tier fashion and tailored fits, without compromise.”
Big Hello offers a diverse selection of Western and Indian ethnic wear for both men and women, including shirts, t-shirts, trousers, jeans, chinos, shorts, blazers, kurtas, ethnic bottomwear, and bandhgalas. The brand also features accessories like belts, tummy tuckers, scarves, ties, pocket squares, and suspenders, all designed to complement the unique curves of plus-sized bodies.
Prasad further stated that Big Hello’s expansion will extend beyond Telangana into other southern states. “We’re positioning Big Hello as the premier hub for plus-size fashion nationwide. Our brand delivers chic, premium clothing meticulously designed to complement the distinctive curves and shapes of plus-sized individuals.”
The Big Hello outlets in Hyderabad are situated at Vasavi Sri Sri Signature in Kukatpally, Mantra Mall in Upperpally, GSM Mall in Miyapur, and Uma Plaza at Nagarjuna Circle in Panjagutta.
The Indian market for plus-size fashion apparel, valued at INR 88,000 crore, constitutes a 12 percent share of the total fashion market. Within this, the organized sector represents approximately INR 29,000 crore. Projections indicate that this market is poised to expand at a compound annual growth rate (CAGR) of 25 percent over the upcoming five years.
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