IKEA teams up with Rhenus to boost online presence and delivery efficiency in Delhi-NCR

May 14, 2024

IKEA, the Swedish furniture giant, has collaborated with Rhenus, a global logistics player, to bolster its online presence and facilitate deliveries to customers in Delhi-NCR.

IKEA said that it has inked a MoU with Rhenus to “elevate the home delivery experience” for clients in the Delhi-NCR region.

This move aims to support the growth of IKEA’s e-commerce expansion and ensure faster and sustainable deliveries to customers in the region, as stated in a statement.

As part of this collaboration, Rhenus will establish a warehouse facility capable of storing and fulfilling over 7,000 products. The warehouse is expected to go live early next year, the company stated.

The company stated that this initiative will guarantee smooth doorstep delivery to customers in the Delhi-NCR region, representing a notable milestone in IKEA’s expansion in India. Furthermore, the company added that this move would empower it to fulfill the majority of orders within a 24-hour timeframe.

Continue Exploring: India tops Ikea’s investment priority list, says CEO Jesper Brodin, highlighting rapid development and market potential

“Our collaboration with Rhenus spans decades. Bringing their knowledge and expertise in growing IKEA in other global countries to our operations in India is an exciting opportunity for both,” said Saiba Suri, IKEA Country Customer Fulfilment Manager.

Suri elaborated, stating, “Our aim is not only to expand but also to craft a customer experience that prioritizes sustainability and community well-being. IKEA is thrilled to mark its initial presence in Delhi NCR in partnership with Rhenus.”

Situated in Gurugram, the facility spans 150,000 square feet and boasts excellent connectivity for inbound movements via rail, road, and air. According to the company, it will fulfill hundreds of orders daily and also create numerous job opportunities, fostering a diverse and inclusive workspace while implementing industry-leading sustainable practices.

Continue Exploring: Ikea expands reach with online doorstep deliveries to 62 new districts in India; plans e-commerce launch in Delhi-NCR within a year

Rhenus India Regional CEO, Vivek Arya, remarked, “As our partnership with IKEA extends beyond Europe to a global level, it underscores our mutual dedication to excellence, innovation, and sustainability. This new warehousing endeavor in India signifies more than just operational growth; it represents a bold stride toward fostering a more inclusive and diverse global footprint.”

In August 2018, IKEA inaugurated its maiden retail outlet in India located in Hyderabad. Presently, it operates three large-format stores in Hyderabad, Navi Mumbai, and Bengaluru, along with two city stores in Mumbai. The company intends to venture into the Delhi-NCR region with two expansive shopping centers featuring integrated IKEA outlets in Gurugram and Noida. The Gurugram project is anticipated to debut by the coming year.

Continue Exploring: Ikea unveils first-ever B2B furniture collection with launch of Mittzon

CYK Hospitalities strengthens its leasing portfolio for QSR brands

SnackTeam

May 14, 2024

Simranjeet Singh & Pulkit Arora, Directors at CYK Hospitalities

CYK Hospitalities, an end-to-end F&B consultancy firm, has announced notable strides in reinforcing its leasing portfolio for Quick Service Restaurant (QSR) brands in the past three months. With the rapid urbanization in India, the QSR sector has experienced a remarkable surge, witnessing the rise of several local and international players expanding nationwide. Anticipating these trends, CYK Hospitalities has positioned itself as a pivotal facilitator in the growth and expansion of QSR brands, strategically placing them amidst the right audience in prime locations.

Expressing his perspective on the industry’s expansion, Simranjeet Singh, Director of CYK Hospitalities, remarked, “India’s swift urbanization has led to remarkable growth in the QSR sector in recent years. This surge is propelled by the emergence of local brands alongside the influx of international chains. Nonetheless, to ensure the success of these brands, securing an ideal location with the right target demographic is paramount. This is where our leasing expertise becomes indispensable.”

Continue Exploring: CYK Hospitalities facilitates Sassy Desserts’ first store opening in Panipat

With expertise in location mapping, legal documentation, and lease finalization, CYK Hospitalities has been pivotal in facilitating the expansion of QSR chains into multiple locations, spanning Delhi, Bengaluru, Gurugram, and Agra. Leveraging its proficiency, the firm has aided over 30 brands within three months to inaugurate outlets in a range of formats, including metro stations, highways, malls, and beyond.

In recent collaborations, CYK Hospitalities partnered with renowned entities in the F&B sector, including The Waffle Company, Burger King, Rage Coffee, Samosa Singh, Mad Over Donuts, Ab Coffee, Bistro 57, K se Kulcha, G.O.A.T (Gelato Brand), Dohful Cookies, and Schmitten Chocolates.

Continue Exploring: CYK Hospitalities spearheads the expansion of My Bar Headquarters into Agra

Expanding its portfolio, CYK broadened its scope to include beauty brands, with Lovechild by Masaba being a notable standout success.

Pulkit Arora, Director at CYK Hospitalities, comments, “The QSR industry in India has undergone significant evolution, with a notable 17% growth reflecting shifting food trends and urban expansion. Globally, strategic leasing stands as a linchpin for QSR triumph, providing coveted locations that drive both profitability and customer interaction. At CYK Hospitalities, our dedication lies in empowering clients with bespoke leasing solutions that unlock premium locations and enhance profitability. Our unwavering commitment to excellence ensures our position at the forefront of shaping the future landscape of the F&B industry.”

Continue Exploring: Gurugram-based CYK Hospitalities sets sights on international expansion, enhancing global reach

Sharing her experience collaborating with CYK Hospitalities, Nidhi Singh, Co-founder of Samosa Singh, remarked, “CYK Hospitalities’ leasing expertise has been crucial in pinpointing optimal locations for our brand in Bengaluru. Their insightful guidance and meticulous research are truly commendable. We look forward to a mutually beneficial and enduring partnership with them!”

In addition to leasing, CYK Hospitalities provides a comprehensive array of services encompassing concept development, market research, competitor analysis, menu design, chef recruitment, standard operating procedures, recipe creation, food costing, ambiance and setup consultation, logo and packaging design, as well as branding services.

Continue Exploring: CYK Hospitalities spearheads launch of Nagari restaurant, elevating Agra’s culinary scene

Devyani International forms JV with PVR Inox to develop food courts in malls

SnackTeam

May 14, 2024

Devyani International, the operator of well-known quick service restaurants (QSRs) like KFC and Pizza Hut, established a 51:49 joint venture with cinema operator PVR Inox to build and manage food courts within shopping malls across India.

In separate regulatory filings, the two corporations stated that no consideration was exchanged between them. Upon establishment, Devyani & PVR INOX will invest in the proposed company’s share capital at a 51:49 ratio.

The two companies clarified that the ongoing food court operations within shopping malls, managed either by Devyani or PVR INOX, will not be included in the business of the proposed company until the expiration, termination, or renewal of their respective contracts.

Continue Exploring: PVR INOX and Devyani International partner up to bring Costa Coffee to premium locations

They also mentioned that the shareholders’ agreement includes customary covenants concerning reserved matters and transfer restrictions. Additionally, PVR INOX and Devyani will appoint directors to the proposed company in accordance with the shareholders’ agreement.

PVR INOX is recognized as India’s largest film exhibition company, operating 1,748 screens across 361 properties in 112 cities, covering both India and Sri Lanka.

The company is involved in operating and overseeing multiplex/cinema theaters, managing food courts, producing cinematograph films, and marketing and distributing films, all aimed at providing entertainment to the general public.

Continue Exploring: Yum Restaurants India exits Devyani International, sells entire stake for INR 871 Crore

Devyani stands as one of the rapidly expanding QSR chain operators in the nation, serving as the largest franchisee for Yum Brands (including KFC and Pizza Hut) in India. Additionally, Devyani holds the exclusive franchise rights for the Costa Coffee brand and its stores across India.

Furthermore, it appeals to South Indian vegetarian food enthusiasts through Vaango, a brand that debuted over a decade ago and has become a prominent player in the Food Retail Business (FRB) category, particularly with its food courts.

With a robust presence in Indian airports, it offers a diverse range of food and beverage options. As of March 31, 2024, Devyani manages over 1,750 stores spanning various brands in more than 250 cities across India, Thailand, Nigeria, and Nepal.

Continue Exploring: Devyani International reports INR 49 Cr loss in Q4 despite 38% YoY revenue surge

Eggoz enters frozen snacks market with flavorful Egg Bhurji Momoz launch

SnackTeam

May 14, 2024

India’s leading egg-focused retail brand, Eggoz Nutrition, has introduced an innovative offering: Egg Bhurji Momoz. This launch not only signifies Eggoz’s venture into the frozen snacks domain but also underscores its commitment to delivering farm-fresh, chemical-free eggs. With a delightful fusion of flavors, these Momoz cater to diverse consumer tastes, adding a unique twist to the snacking experience.

Egg Bhurji Momoz makes a pioneering move by introducing egg bhurji stuffing within momos, setting a fresh standard for wholesome snacking alternatives. Inspired by the beloved Anda Bhurji, a nationwide favorite, these momos are brimming with succulent and flavorful Anda Bhurji, offering a delectable and nourishing snack option. With a preparation time of just five minutes, they are effortlessly convenient. Moreover, each pack comes with a zesty dip, elevating the taste and enjoyment of the snacking session.

Continue Exploring: Eggoz achieves remarkable milestone: Surpasses INR 100 Crore in annual revenue within three years of launch

Abhishek Negi, Co-Founder and CEO of Eggoz Nutrition, expressed, “At Eggoz, our aim has consistently been to champion nutritious eating without sacrificing flavor. With the debut of Egg Bhurji Momoz, we persist in our journey of innovation, responding to the changing tastes of our consumers. We take pride in presenting a snack that not only tantalizes the palate but also delivers a nourishing punch, in line with our dedication to quality and wellness. We have exciting plans to unveil more wholesome egg-based snacking options throughout this year.”

Eggoz Nutrition guarantees the integrity and safety of its products by sourcing eggs from hens fed with herbal feed, subjecting them to 11 stringent safety inspections. This unwavering dedication to quality has been instrumental in Eggoz’s remarkable market achievements. Recently, the brand achieved a milestone, surpassing INR 100 crore in net annual recurring revenue (ARR) sales within just three years of its inception. Its robust market foothold in Delhi-NCR and Bangalore solidifies its position as the go-to choice for premium-quality fresh eggs across India.

Egg Bhurji Momoz can be purchased on the Eggoz website as well as through well-known online retailers including Zepto, Blinkit, Swiggy, and Instamart.

Continue Exploring: Eggoz spearheads nationwide campaign to redefine egg quality standards in India

Natch partners with Swiggy Instamart to deliver healthy snacks across Mumbai, plans expansion to major cities

SnackTeam

May 14, 2024

Healthy snacking brand Natch has teamed up with Swiggy Instamart to swiftly deliver its nutritious snacks to customers in Mumbai. This collaboration aims to provide retail consumers with a convenient way to enjoy tasty and healthy snacks.

Natch offers a diverse range of options tailored to cater to various tastes. For those with a penchant for sweet and spicy indulgence, the Thai rice chips are available in sweet chili and sesame flavors. For individuals seeking a plant-based cheesy alternative, the brand provides chickpea puffs with a vegan cheddar taste. Moreover, their Thai mango slices come in classic and chili varieties, providing a delightful tropical twist. All Natch products are natural and plant-based, devoid of artificial flavors and preservatives, in line with the brand’s commitment to consumer wellness.

Matthew Taff, the Co-Founder and CEO of Natch Snacks, expressed enthusiasm, stating, “We’re excited to unveil the initial phase of Natch’s venture into quick commerce. Our devoted customers can anticipate unmatched convenience and outstanding service with the introduction of five of our top-selling products in Mumbai. We’re confident in the tremendous reception we’ll receive and eagerly anticipate broadening our product range and availability in the coming days.”

Continue Exploring: Snacking brand Natch raises INR 3 Crore in seed funding round led by Artha Venture Fund and DSP Group

In celebration of the launch, Natch is extending a special discount of 15-20 percent off the MRP on all their products available through Swiggy Instamart for the initial three months. This promotional offer presents customers with a fantastic chance to either replenish their stock of beloved healthy snacks or venture into trying new options at an enticing price point.

In addition to Mumbai, Natch aims to extend its availability on Swiggy Instamart to other major cities, including Gurgaon, Delhi, Hyderabad, Pune, Chennai, Bangalore, and Ahmedabad.

Continue Exploring: Healthy snack brands see explosive growth amidst health-conscious consumer trend

Devyani International reports INR 49 Cr loss in Q4 despite 38% YoY revenue surge

SnackTeam

May 14, 2024

Devyani International, India’s leading franchisee for Pizza Hut and KFC, announced a net loss of INR 49 crore for the quarter ended on March 31, 2024. This contrasts with a profit of nearly INR 60 crore during the corresponding period in the previous year.

The company noted a 38% year-on-year (YoY) rise in operational revenue, reaching INR 1061.7 crore. Concurrently, total expenses surged by 32% YoY to INR 550.6 crore, up from INR 374 crore in the fourth quarter of FY23.

The EBITDA margins saw a year-on-year (YoY) decrease of 340 basis points, settling at 16.6%, compared to the 20% recorded in the corresponding period last year.

Continue Exploring: Yum Restaurants India exits Devyani International, sells entire stake for INR 871 Crore

“Amidst our global expansion, we’ve been actively strategizing to bolster our presence in the domestic Food Courts business, aligning with India’s growing stature as a hub for travel, tourism, and shopping. With the domestic travel sector thriving, religious tourism stands out as a key focus area. Moreover, India’s prominence in international markets for medical tourism and as a value-for-money shopping destination is on the rise. These shifts are fundamental and enduring. A unifying element in this evolution is food – on the go,” stated Ravi Jaipuria, Non-Executive Chairman of Devyani International.

During Q4FY24, Devyani successfully finalized and integrated its acquisition of RD Thailand, while also incorporating 47 net new stores into its portfolio (including 5 KFC stores in Thailand). Moreover, the total store count is projected to reach the 2,000 milestone in 2024, two years earlier than previously anticipated.

The company has additionally forged a partnership with PVR INOX to manage food courts within shopping malls.

“I am delighted to announce that DIL has formed a strategic alliance with PVR INOX to cultivate and manage food court operations in shopping malls nationwide, synergizing the realms of cinema and gastronomy. This initiative will not only fortify our foothold in numerous malls across the country but also amplify the visibility of our brands and the food court enterprise,” remarked Jaipuria.

Devyani International’s shares were holding steady at INR 156.60 on the BSE around 1:30 pm today.

Continue Exploring: Devyani International set to operate KFC outlets in Thailand after $128.9 Million deal

Officer’s Choice Whisky maker Allied Blenders secures Sebi’s nod for INR 1,500 Cr IPO

SnackTeam

May 14, 2024

Allied Blenders and Distillers Limited (ABD)

Allied Blenders and Distillers Ltd, renowned for its Officer’s Choice Whisky, has received approval from Sebi to raise INR 1,500 crore through an Initial Public Offering (IPO), as revealed in a recent update from the markets regulator. The IPO plan involves a fresh issuance of equity shares valued at INR 1,000 crore and an Offer-for-Sale (OFS) of shares amounting to INR 500 crore by the promoters, according to details in the Draft Red Herring Prospectus (DRHP).

As part of the Offer-for-Sale (OFS), shares will be sold by Bina Kishore Chhabria, Resham Chhabria, Jeetendra Hemdev, and Neesha Kishore Chhabria.

The update revealed that Allied Blenders and Distillers Ltd, which submitted preliminary IPO documents to Sebi in January, received its observations on May 10.

In Sebi’s terms, receiving observations signifies its approval to launch the public offering.

Continue Exploring: Allied Blenders files IPO papers with SEBI, targeting INR 1,500 Crore capital raise

According to the draft documents, the funds generated from the fresh issue, totaling INR 720 crore, will be allocated for debt repayment, with a portion designated for general corporate purposes.

As of December 2023, the company’s total debt stood at approximately INR 808 crore.

Allied Blenders and Distillers, holding a market share of more than 8% in the Indian-Made Foreign Liquor (IMFL) market by sales volumes in Fiscal 2023, previously submitted draft papers to Sebi in 2022 for an IPO valued at INR 2,000 crore.

The company received approval from Sebi to initiate its inaugural public offering but chose not to proceed with the launch.

Allied Blenders and Distillers is involved in the production, marketing, and distribution of alcoholic beverages both domestically and internationally.

The firm’s product lineup includes various brands of Indian-Made Foreign Liquor (IMFL) spanning whisky, brandy, rum, and vodka.

Among the notable brands of the company are Officer’s Choice Whisky, Sterling Reserve Whisky, Jolly Roger Rum, and Class 21 Vodka.

Both the BSE as well as the NSE will list the company’s equity shares.

Continue Exploring: Allied Blenders & Distillers appoints Alok Gupta as new Managing Director

Skincare brand Moha teams up with cricketer Surya Kumar Yadav

SnackTeam

May 14, 2024

Moha:, a leading skincare brand celebrated for its natural formulations, has announced a partnership with renowned cricket star Surya Kumar Yadav, popularly known as SKY. Yadav’s swift rise in the cricketing world and his broad appeal align perfectly with moha:’s dedication to excellence and innovation in personal care within India’s retail market.

Surya Kumar Yadav remarked, “I am thrilled to join forces with moha:, a brand renowned for its extensive range of Ayurvedic products. As an athlete, sun protection and foot care are crucial parts of my routine, and their products are the perfect solution to meet these essential needs.”

Continue Exploring: Dot and Key Skincare appoints Shanaya Kapoor as its brand ambassador

Dr. Ram H. Shroff, Director of Charak Pharma, the parent company of moha:, stated, “We are thrilled to partner with SKY, as we both value trust, reliability, and excellence. Our moha: Sunscreen Spray, the first Indian sunscreen spray of its kind, exemplifies our dedication to innovation and quality.”

Moha: has solidified its position in the skincare industry by blending traditional Ayurvedic wisdom with modern scientific advancements. Their product line includes face washes, moisturizers, and hair care essentials, all crafted to enhance overall skin health and wellness. The partnership with Surya Kumar Yadav marks a new era of innovation and performance in personal care, offering high-quality products endorsed by SKY and backed by moha:’s legacy of excellence.

Continue Exploring: Honasa Consumer’s skincare brand The Derma Co hits INR 500 Cr ARR milestone

Pee Safe launches AI-driven chatbot PeePal for enhanced personal care shopping experience

SnackTeam

May 14, 2024

Pee Safe, the personal hygiene and wellness brand, has unveiled its latest initiative: introducing PeePal, an AI-powered chatbot. The aim is to enhance transaction efficiency and boost website traffic through this innovative addition.

PeePal combines Artificial Intelligence (AI) and Machine Learning (ML) to educate consumers about optimal hygiene and self-care practices.

“PeePal isn’t merely a shopping assistant; it’s your personalized guide through our Pee Safe ecosystem. It’s about tailoring your personal care journey to your needs and empowering you with knowledge,” expressed Rithish Kumar, Co-Founder of Pee Safe.

Continue Exploring: Hygiene and wellness brand Pee Safe surpasses INR 100 Crore revenue mark with over 50% sales growth in FY23-24

“PeePal isn’t solely about making precise decisions; it represents a revolution in reliability. While others discuss innovation, we’re actively living it, establishing a new benchmark in the ecosystem—revolutionizing personal care and enlightening our users as we progress,” remarked Gopal Dutt Vashisht, Growth Manager at Pee Safe.

Established in 2017, Pee Safe (Redcliffe Hygiene Private Limited) provides products for feminine hygiene and intimate wellness, catering to women across all age groups from puberty to menopause. With a customer base exceeding 6 million, the brand has made significant strides in the industry.

Continue Exploring: Hygiene brand Pee Safe raises $3 Million in ongoing Series B round

Zomato shares dip 6% despite Q4 FY24 profit surge

SnackTeam

May 14, 2024

Despite recording increased profits quarter-on-quarter for Q4 FY24, Zomato shares declined by 6% to INR 182.10 on Tuesday (May 14th).

By 12:20 PM, Zomato’s trading price per share stood at INR 189.20, down from INR 193.70 at the previous day’s close.

The decline may be linked to broader apprehensions arising from the 2024 general elections. Market volatility, sparked by uncertainty surrounding the election results, has resulted in a downturn in equity markets.

Additionally, it’s possible that numerous investors are reevaluating their Zomato holdings to capitalize on profits following the quarterly financial update.

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

The company announced its intention to heavily invest in the quick commerce business Blinkit, with plans to nearly double its store count by the end of FY25. This aggressive expansion is also expected to temper investor expectations around future profit growth.

In Q4FY23, Zomato’s consolidated net profit surged by 26.8% to INR 175 Cr from INR 138 Cr in the previous quarter. This marks a significant turnaround from the net loss of INR 187.6 Cr reported in the corresponding quarter of the previous fiscal year.

Nevertheless, Zomato experienced a decrease in the Gross Order Value (GOV) of its food delivery segment on a quarter-over-quarter (QoQ) basis. The GOV dropped to INR 8,439 Cr in the quarter under review, down from INR 8,486 Cr in the previous quarter. However, there was a notable 28% increase in GOV on a year-over-year (YoY) basis.

In March 2024, the quick commerce division Blinkit achieved positive adjusted EBITDA. The quarter saw a remarkable growth in its gross order value (GOV), surging by 97% year-over-year (YoY) and 14% quarter-over-quarter (QoQ) to INR 4,027 Cr. Additionally, the division’s operating revenue soared by 112% YoY and 19% QoQ, reaching INR 769 Cr.

Continue Exploring: Blinkit more valuable than Zomato’s food delivery business: Goldman Sachs

Blinkit’s adjusted EBITDA loss showed improvement, narrowing to INR 37 Cr in Q4 FY24 from INR 203 Cr a year earlier and INR 89 Cr in the previous December quarter.

Blinkit’s gross order value (GOV) surged by 97% year-on-year (YoY) to INR 4,027 Cr in the quarter that ended in March 2024.

Additionally, the company saw robust expansion in its B2B segment, Hyperpure. Revenue climbed by 11% to INR 951 Cr from the previous quarter’s INR 859 Cr. Moreover, the company successfully reduced losses in Hyperpure, with the adjusted EBITDA loss decreasing to INR 23 Cr in the March quarter, compared to INR 34 Cr in the December quarter.

Meanwhile, Zomato plans to issue 18.26 Cr employee stock options as part of its Zomato ESOP 2024 scheme, pending shareholder approval.

Continue Exploring: Zomato seeks shareholder approval for 18.26 Cr employee stock options plan

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