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.”
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.
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.
“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.
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.
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.
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.
Kazo, a homegrown fashion brand, is betting big on the accessories category with the recent launch of its new brand, Kazo Details. Founder and MD Deepak Aggarwal revealed that the company has unveiled two stores for its latest brand, offering a variety of bags and accessories.
Kazo Details plans to expand its offerings by introducing scarves, beanies, and sunglasses soon.
“In India, there is a significant gap in this area. There aren’t any major competitors providing similar prices for high-quality goods. Thus, we want to open three more Kazo Details stores this fiscal year in addition to ten kiosks,” he said.
Furthermore, he elaborated, “Additionally, we intend to inaugurate 12 new Kazo stores.”
Currently, the company boasts over 185 points of sale across the country, including more than 65 exclusive brand outlets (EBOs) and over 120 shop-in-shops.
“We’ve allocated INR 25 crore for our expansion plans, covering investments in new store openings, kiosks, inventory, and recruiting fresh talent,” he emphasized.
Currently, the capital expenditure (CAPEX) required to establish an Exclusive Brand Outlet (EBO) for the bootstrapped company is INR 70 lakh.
The company additionally sells its products through its direct-to-consumer (D2C) website, as well as other online marketplaces such as Myntra, Ajio, Tata Cliq, and Nykaa.
“At present, 80 percent of the company’s revenue is generated from offline stores, 15 percent from marketplaces, and the remaining 5 percent from our direct-to-consumer (D2C) website,” he emphasized.
With an EBITDA profitability of approximately 10 percent, the company concluded the previous fiscal year with revenue of INR 150 crore and aims to reach INR 200 crore by the end of this fiscal year.
“By the end of this fiscal year, we anticipate Kazo Details to contribute 15 percent of our total revenue,” he concluded.
McDonald’s, the renowned American fast food chain, has unveiled its 50th McCafe outlet in India, as shared in a recent social media post by the company.
The latest McCafe outlet is situated in Sector 132 of Noida. This location features specialties such as self-ordering options, digital kiosks, and a convenient drive-thru facility.
“We’re thrilled to announce the inauguration of our 50th McCafé, nestled in the heart of Noida at Sector 132,” stated McDonald’s India North and East in a LinkedIn post.
“Enjoy the mouth watering meals from McCafé and McDonald’s with much more convenience now. Visit us today to indulge in a wide variety of delectable McDonald’s fare,” the post continued.
Earlier in April, McDonald’s opened a location in sector 73 in Noida.
Established in 1940, McDonald’s Corporation is based in Chicago.
Connaught Plaza Restaurants Pvt. Ltd operates McDonald’s restaurants in the North and East regions of India, boasting over 200 outlets across these areas.
Kolkata-based beauty startup, Dot & Key Skincare, has collaborated with Shanaya Kapoor. This partnership signifies a remarkable milestone for both the brand and Shanaya’s burgeoning career. With her vibrant energy and unwavering focus on wellness, Shanaya perfectly encapsulates Dot & Key’s philosophy—a dedication to skincare efficacy grounded in powerful ingredients.
As the first brand ambassador, Shanaya infuses a breath of fresh air with her unique enthusiasm, effortlessly blending her rising star power with the brand’s fruit-infused ethos. This partnership epitomizes a blend of elegance, impact, and creativity, resonating deeply with the brand’s core audience—today’s vibrant millennials.
Shanaya Kapoor expressed her enthusiasm about the collaboration, saying, “I’m thrilled to be the ambassador for Dot and Key Skincare. Their products have effortlessly blended into my daily routine. Being someone who loves homemade fruit treatments, Dot and Key’s fruit-infused products have simplified my regimen and proven to be highly effective. I’m eager to share my skincare journey with everyone.”
Shanaya’s endorsement reinforces Dot and Key’s position as a trailblazer in personal skincare, offering a wide array of essential products such as sunscreen, moisturizers, face washes, lip balms, and beyond.
Suyash Saraf, Co-Founder of Dot and Key, expressed delight in welcoming Shanaya Kapoor to the Dot and Key Skincare family. He emphasized that her vibrant personality and genuine love for skincare and fruit-based beauty align seamlessly with the brand’s ethos.
Founded in 2018, Dot and Key emerged from the collaborative efforts of Suyash Saraf and Anisha Saraf, a dynamic husband-and-wife duo driven by a shared vision to address the gaps in skincare routines with innovative solutions.
Avocados Australia Limited, the official representative of the Australian avocado industry, has announced its entry into the Indian market, featuring cricketer Brett Lee as their brand ambassador.
This collaboration represents a significant milestone for both Australian avocados and the Indian fresh fruit market. The initiative aims to promote premium quality avocados as a healthy addition to everyday meals and snacks in Indian households.
The avocado market is gaining momentum in India, with consumption on the rise and global demand significantly increasing over the past decade. Australia produced over 115,385 tonnes of avocados in 2022-23, and forecasts predict this will grow to around 170,000 tonnes by 2026. In light of this production growth, Australian producers are dedicated to expanding into new overseas markets, including India.
At the launch of Australian avocados in India, Acting Australian High Commissioner to India, Nick McCaffrey, stated, “The introduction of Australian avocados to the Indian market signifies a promising partnership between our nations. It reflects the strengthening bilateral ties and the potential for further collaboration in the agricultural sector.”
John Tyas, CEO of Avocados Australia, highlighted the importance of the Indian market and outlined a strategy aimed at boosting the visibility of Australian avocados in India. He emphasized, “Through our dedicated focus on exports and unwavering dedication to quality and service, we are poised to establish a strong foothold in India. Despite existing competition, we believe our steadfast commitment to quality, impeccable service, year-round availability, and comprehensive market support will distinguish us. While accessing the Indian market presents a significant opportunity, we acknowledge the learning curve ahead and recognize that nurturing this market will require time and concerted effort in the years to come.”
He added, “Many consumers in India are unaware of the health benefits of regular avocado consumption and the versatile uses of this fruit in various cuisines. We aim to educate consumers on both fronts. The launch of Australian avocados in India is a significant step in the industry’s global expansion, promising premium quality for Indian consumers.”
“I am delighted to be associated with Australian avocados as well as with the fruit that epitomises the essence of health,” said Brett Lee.
Varun Beverages Ltd (VBL), the largest franchise bottler for PepsiCo, reported a 25% rise in consolidated profit after tax to INR 547.98 crore for the first quarter ending March 2024. Following the calendar year (January-December) reporting system, the company had recorded a consolidated profit after tax (PAT) of INR 438.57 crore in the same quarter last year.
The consolidated revenue from operations in the first quarter stood at INR 4,397.98 crore as against INR 3,952.59 crore in the year-ago period.
Total expenses in the quarter amounted to INR 3,609.76 crore, higher than INR 3,329.7 crore in the year-ago period.
The company had a fairly solid overall financial and operational performance in the first quarter of the year, according to Varun Beverages Chairman Ravi Jaipuria, despite the Holi festival being postponed by 17 days, which caused a delayed seasonality cycle.
“We attained a consolidated sales revenue growth of 10.9%, comprising a volume growth of 7.2% and net realization per case growth of 3.5% in Q1,” he further explained. “This demonstrates an enhanced product mix in India and increased contributions from international markets.”
In the first quarter of calendar year 2024 (Q1 CY2024), the consolidated sales volume increased by 7.2%, reaching 240.2 million cases compared to 224.1 million cases in the same quarter of calendar year 2023 (Q1 CY2023).
According to the company, it has invested INR 2,800 crore in capital expenditures and has set up three greenfield production facilities for the 2024 calendar year: Supa in Maharashtra on January 25, 2024; Gorakhpur in Uttar Pradesh on April 13, 2024; and Khordha in Odisha on April 30, 2024.
The filing mentioned that the company’s board has given the green light for the establishment of a wholly-owned subsidiary in Zimbabwe. This subsidiary will be dedicated to conducting business in the food products sector.
In a bid to address the issue of fake reviews, the union government plans to make it mandatory for e-commerce platforms to comply with quality consumer review norms.
According to a report by news agency PTI, Nidhi Khare, the secretary of consumer affairs, mentioned that despite the Centre issuing voluntary standards on “online reviews” in late-2022, fake reviews on ecommerce sites still manage to “slip through.”
Khare stated, “It has been over a year since the voluntary standard on ‘online reviews’ was introduced. While some entities assert compliance, fake reviews persist in publication. To prioritize consumer protection, we aim to make these standards compulsory.”
According to the report, the Department of Consumer Affairs has arranged a meeting later this week (on May 15) with prominent ecommerce companies and consumer organizations to deliberate on the proposed action.
It’s worth noting that in 2022, the Centre introduced a framework aimed at safeguarding consumers’ interests by combating fake and misleading reviews on ecommerce platforms.
Formulated by the Bureau of Indian Standards, the framework prohibits reviews that are “purchased and/or authored by individuals employed specifically for that purpose by the supplier or a third party.” Additionally, the quality standards for ecommerce entities require the disclosure of promotional content and paid reviews.
However, the framework operates on a voluntary basis. Nevertheless, the Ministry appears to have intensified its efforts and is now poised to take action against such violations in the interest of consumers.
This development comes a few months after reports surfaced that the government was considering making it mandatory for ecommerce sites to adopt a system to curb fake reviews. At that time, the former consumer affairs secretary Rohit Kumar Singh underscored the need for authenticating product reviews and developing standards to manage and prevent fake reviews.
The latest move is a part of the government’s attempts to safeguard online shoppers’ interests. The Department of Consumer Affairs prohibited e-commerce platforms from using “dark patterns” in their user interfaces in June of last year.
Authorities first sent a letter to major ecommerce platforms warning of repercussions if noncompliance continued, and then hinted at the intention of issuing guidelines if the industry did not comply voluntarily. In December 2023, the guidelines for dark patterns were finally released.
Among these dark patterns are false urgency, subscription traps, confirm shaming, forced action, bait and switch, and hidden costs.
According to an ASCI report, approximately 29% of the advertising complaints it handled during 2021-22 involved dark patterns and were endorsed by influencers. Industries such as crypto, fashion, and ecommerce topped the list in terms of such violations.
India’s retailinflation softened marginally, hitting an 11-month low of 4.83 percent annually in April, down from 4.85 percent in the previous month, as per government data released on Monday. A Reuters poll of 44 economists had anticipated the figure to drop to 4.80 percent.
According to data from the National Statistical Office (NSO), inflation in the food basket increased to 8.7 percent in April, rising from 8.52 percent in March.
In April, the inflation rate sequentially stood at 0.48 percent.
India’s year-on-year vegetable inflation was recorded at 27.80 percent, slightly lower than March’s 28.30 percent. Meanwhile, the inflation rates for cereals and pulses, which form a substantial part of India’s staple diet, were 8.63 percent and 16.84 percent, respectively.
During the announcement of the results of the first bimonthly Monetary Policy Committee (MPC) meeting of FY25, Reserve Bank of India (RBI) Governor Shaktikanta Das highlighted inflation as the primary challenge, metaphorically labeling it as “the elephant in the room.” Despite this, he expressed optimism by suggesting that inflation (the elephant) seems to be returning to the desired threshold (the forest) of 4 percent.
In his speech, Governor Das commented, “CPI inflation was the elephant in the room. Now, it seems the elephant has taken a stroll and is heading back to the forest.”
Das emphasized the declining trend of inflation, supported by favorable base effects. Nevertheless, he recognized the ongoing pressure from service prices, which has kept the key indicator elevated compared to the set targets.
The headline inflation for January-February 2024 decreased to 5.1 percent, down from the 5.7 percent recorded in December. Nonetheless, the unpredictable fluctuations in food prices persist, adding to inflation uncertainties.
“Although headline inflation has decreased from its December peak, the persistent influence of food prices is hindering the continuous disinflation process, posing challenges to reaching the target,” remarked Das.
After a correction in January, food inflation rose to 7.8 percent in February, mainly driven by increases in vegetable, egg, meat, and fish prices.
Meanwhile, fuel prices continued their deflationary trend for the sixth straight month in February. The core Consumer Price Index (CPI), which excludes food and fuel, experienced disinflation, falling to 3.4 percent in February. This represents one of the lowest levels in the current CPI series, with both goods and services components seeing a decrease in inflation.
During its April 2024 meeting, the MPC maintained its inflation projection for the fiscal year at 4.5 percent, contingent upon a normal monsoon, despite the nation preparing for a hot summer amidst rising crude oil prices and ongoing concerns about the supply chain due to the Red Sea crisis.
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