Pending regulatory approval and other standard closing conditions, the deal is slated to be completed in the first half of 2025. Moreover, Uber will purchase $300 million worth of newly issued ordinary shares of Delivery Hero.
Following the transaction’s completion, Foodpanda’s local consumers, merchants, and delivery partners will transition to Uber Eats.
The agreement combines Uber’s global marketplace expertise with Foodpanda’s established presence in Taiwan and its partnerships with popular local brands. This collaboration aims to broaden consumer choices across different food categories and price ranges by consolidating the diverse groups of merchants from Uber Eats and Foodpanda onto a unified platform, according to the company’s statement.
For instance, the merger will provide consumers with benefits like Uber’s broad coverage in northern Taiwan and major cities, complemented by Foodpanda’s robust presence in southern Taiwan and smaller urban areas.
Niklas Östberg, CEO and co-founder of Delivery Hero, expressed, “The success of our Taiwanese business is a result of the dedication of numerous teams over the past eight years. To establish a globally renowned service, we’ve determined that redirecting our resources to other areas of our global footprint, where we can make the greatest difference for customers, vendors, and riders, is necessary. This agreement provides Foodpanda with an exciting opportunity in Taiwan, and we extend our best wishes to them as they embark on their next phase.”
Pierre-Dimitri Gore-Coty, Senior Vice President of Delivery at Uber, remarked, “Uniting our unique customer bases, merchant offerings, and geographical reach will enable us to offer greater choices and competitive prices for consumers, increased demand for restaurants, and enhanced earning potential for delivery partners.”
“Online meal delivery services still make up a relatively little portion of the food delivery market here. We can’t wait to use this transaction to unlock even more convenience and value in the years to come.”
Upon finalization, the deal would stand as “one of the largest ever international acquisitions in Taiwan,” with the exception of the semiconductor sector.
Hotel operators, who previously slashed jobs in large numbers during the Covid era, are now re-entering the market with vigor, hiring thousands to support their ambitious expansion strategies and address vacancies stemming from significant attrition rates.
TeamLease Services, a staffing services firm, anticipates the creation of approximately 200,000 jobs in the hotel, restaurant, and tourism sectors within the next 12-18 months. Balasubramanian A, Vice President and Head of Consumer, Hospitality, and E-commerce at TeamLease, projects that roughly half of these positions will be within the hotel industry.
Hotels in various sectors are increasing their staff to meet expansions into new areas and the installation of more rooms, fueled by a strong increase in business as well as leisure travel. Balasubramanian stated that the vacancies being filled include a mix of permanent, temporary, & gig work.
Chander K Baljee, Chairman and Managing Director of mid-tier Royal Orchid Hotels, stated, “We plan to increase our room count by about 2,000 this year across our various properties and aim to recruit approximately 5,000 individuals across various levels.” Industry executives and staffing firms report significant attrition rates, ranging from 30-50% per month for many small and mid-tier hotels, leading to a notable upsurge in replacement hiring.
“Out of our workforce totaling 8,000 employees, we experienced attrition rates ranging from 30-35%,” remarked Baljee. “These vacancies must be filled.”
Royal Orchid intends to introduce three fresh brands, one of which is a premium five-star brand. The company has already secured a new property with 300 rooms in Mumbai for this upscale venture.
Its existing portfolio comprises slightly over 100 hotels, totaling close to 6,000 rooms. The majority of its forthcoming 2,000-room inventory will be situated in western India, with subsequent expansions planned for the north and east regions.
TeamLease estimates suggest that the annual count of domestic tourists in India may witness an increase of 10 million over the next one to two years, rising from the current range of 180-200 million.
Meanwhile, forecasts indicate a 20% growth in foreign tourist arrivals during the same period, with expectations of tripling within five to six years from the current annual figure of around 10 million. The hotel industry stands poised as a direct beneficiary of this anticipated surge in tourism.
Samir MC, the Managing Director of Fortune Hotels, anticipates an 8-10% increase in the company’s hiring this year compared to the previous one, propelled by their ambitious expansion initiatives.
Fortune Hotels manages over 5,000 rooms spanning 56 cities. According to him, they are currently recruiting for positions in the front desk, housekeeping, administrative, and food and beverage departments.
Lemon Tree, another mid-tier hotel operator, aims to incorporate approximately 2,000 rooms within this fiscal year, along with recruiting 3,000-4,000 individuals across various roles, as stated by Chairman and Managing Director Patu Keswani. He further noted, “This hiring encompasses the replacement of attrition, totaling 1,500.”
Despite significant job layoffs and reduced staffing levels due to the Covid-19 outbreak, the hotel business has recovered. We have seen a 20-25% spike in hotel demand over the previous year. This increased demand is coming from both current businesses and newly developed properties,” said Alok Kumar, President-Manpower of ManpowerGroup India.
“With the lifting of travel restrictions and the restoration of consumer confidence, both leisure and business travel are experiencing an upsurge. The demand for hotel accommodations has soared to unprecedented levels, prompting hotels to recruit additional staff to uphold service standards,” he further commented.
The most sought-after positions include front desk agents, concierges, guest relations managers, as well as housekeeping and maintenance staff.
Specialized roles such as maintenance technicians, chefs, and recreation managers are also witnessing high demand, with Manpower noting an increase of over 35% compared to the same quarter last year.
“The hotels and hospitality sector have seen at least a 20% year-over-year surge in demand for personnel,” Ciel HR Services Chief Executive Aditya Narayan Mishra said. “We are seeing huge demand for professionals across various fields such as marketing, sales, technical roles, as well as HR,” he went on to explain.
According to a recent report by ratings firm ICRA, the hotel industry is expected to achieve revenue growth ranging from 7% to 9% in fiscal year 2025.
Travel platforms have also increased their hiring efforts in response to the overall uptick in both leisure and business travel.
Ajay Sreedhara, Head of the People Function at the online travel firm Cleartrip, stated, “As our business expands, we have intensified our hiring efforts, particularly for numerous leadership roles… We are actively recruiting talent across various domains, including technology, product development, and business development. From product engineers to senior executives, we are eager to engage individuals with pertinent travel industry expertise.”
ITC Aashirvaad Salt has unveiled its latest offering: Himalayan Pink Salt. Also recognized as Sendha Namak or Saindhava Lavana in India, this salt variety is revered for its natural origins, hailing from the depths of the Himalayan salt mines.
To alleviate consumer concerns about unethical practices, such as the addition of artificial colors to achieve a pink hue, Aashirvaad Himalayan Pink Salt proudly guarantees “No added colors.” Its naturally deeper pink hue derives from the superior quality of salt sourced by Aashirvaad, setting it apart from other pink salts on the market. This distinction underscores Aashirvaad’s unwavering dedication to delivering premium, safe products to its discerning clientele.
Aashirvaad Himalayan Pink salt is enriched with vital minerals such as calcium and magnesium. Through gentle processing, this new addition elevates the taste of dishes while ensuring purity. Moreover, its multi-layer packaging preserves freshness, allowing consumers to instantly gauge its quality through the transparent strip.
Anuj Kumar Rustagi, Chief Operating Officer of Staples and Adjacencies, highlights, “Our consumer research revealed a growing preference for pink salt owing to its perceived health advantages. This prompted us to introduce Himalayan Pink Salt. Backed by Aashirvaad’s quality assurance, we eagerly anticipate a favorable response from our customers.”
Aashirvaad Pink Salt will be accessible at Modern Trade/ISS outlets in all major metropolitan areas, including Bangalore, Chennai, Mumbai, Delhi, Hyderabad, and Kolkata, as well as eCommerce/quick commerce platforms. The 1kg package is priced at INR 120.
TCNS Clothing, an ethnic-wear brand, has reported a net loss of INR 63.60 crore for the quarter ended March 31, 2024, according to its BSE filing. This marks a significant increase from the INR 28.12 crore loss reported in the same quarter last year.
New photographic and video evidence promise to add an extra kick to the ongoing Indian court dispute regarding the origins of the globally renowned butter chicken dish.
Since January, two Indian restaurant chains have been locked in a legal battle at the Delhi High Court, each asserting ownership of the creation of the dish. This lawsuit has captured the interest of social media users, food critics, editorials, and TV channels worldwide.
The renowned Moti Mahal restaurant chain insisted that it held exclusive rights as the originator of the curry and called upon its competitor, the Daryaganj chain, to cease laying claim to its creation and to compensate $240,000 for damages. Moti Mahal asserted that its founder, Kundan Lal Gujral, crafted the dish laden with cream during the 1930s at an establishment in Peshawar, which is now part of Pakistan, before subsequently moving to Delhi.
Daryaganj stated in a fresh, 642-page counter-filing that the “narrative surrounding the invention of butter chicken lacks credibility” and is designed to deceive the court.
Daryaganj claims that Kundan Lal Jaggi, a late member of its founding family, created the disputed dish while he was leading the kitchen at the relocated Delhi restaurant. His friend and partner from Peshawar, Gujral, was only responsible for marketing.
Both men have passed away, with Gujral dying in 1997 and Jaggi in 2018.
Evidence in the non-public filing includes a black-and-white photograph from the 1930s showing the two friends in Peshawar, a 1949 partnership agreement, Jaggi’s business card from after his relocation to Delhi, and a 2017 video of Jaggi discussing the dish’s origin.
Due to the partnership between the friends, “both parties can claim that their respective ancestors created the dishes,” Daryaganj states in the filing, describing the dispute as a “business rivalry.”
Moti Mahal declined to comment. The judge is scheduled to hear the case next on May 29.
A central issue the court must resolve is where, when, and by whom the dish was first created—whether it was by Gujral in Peshawar, Jaggi in New Delhi, or if both should be credited.
Butter chicken is ranked 43rd on TasteAtlas‘s list of the world’s “best dishes,” and brand experts note that claiming its invention carries significant bragging rights.
“Being recognised as a creator brings significant benefits and increases customer attractiveness. “It also allows you to charge more,” said Dilip Cherian, an image consultant and co-founder of the Indian public relations firm Perfect Relations.
Moti Mahal operates a franchise model with more than 100 outlets worldwide. Their butter chicken dishes are priced at $8 in New Delhi and $23 in New York.
Former U.S. President Richard Nixon and India’s first Prime Minister Jawaharlal Nehru are among the notable patrons who have visited its flagship outlet in Delhi.
Established in 2019, Daryaganj offers its butter chicken at a price of $7.50. With 10 outlets primarily located in New Delhi, the brand intends to broaden its presence to other cities across India as well as Bangkok.
Within its 2,752-page Indian lawsuit, Moti Mahal also alleged that Daryaganj had replicated “the look and feel” of its outlet interiors.
Daryaganj has countered with photographs of restaurant interiors for the judge’s review, asserting that it is Moti Mahal that has replicated its “design of floor tiles.”
After expanding its priority delivery services to Delhi, Hyderabad, and Pune, Zomato, the foodtech giant, has now rolled out a new feature to aid its users in making healthier choices.
Through this latest feature,, users can steer towards healthier options when placing their orders, ensuring they won’t regret their decisions afterward.
Deepinder Goyal, the founder and CEO of Zomato, made the announcement on X.
“We just released a new function on Zomato – gently assisting our users in making healthier choices,” the post stated. To begin with, we’ve started to recommend roti in place of naans.
We just launched a new feature on zomato – gently helping our customers to make healthier choices (just in case you are subconsciously ordering something you may later regret). To begin with, we have started suggesting roti as an alternative to a naan.
This feature has received tremendously good response, and we are seeing a 7% attach rate for these proposals. Soon, we plan to expand this to include additional foods and categories. When you add a dessert to your cart, for instance, if you are in the mood for something sweeter, we may suggest lighter dessert options to you,” it added.
Zomato is also preparing to extend this functionality to additional dishes and categories. For example, if a user desires dessert, they could receive suggestions for lower-calorie options when adding it to their cart.
Last month, the company also raised its platform fee to INR 5 per order from INR 4 earlier.
Earlier in May, Zomato marked its fourth straight quarter of profitability. The company’s consolidated net profit surged by 26.8% to INR 175 Cr in the quarter ending March 31 of the fiscal year 2023-24 (FY24), compared to INR 138 Cr in the previous quarter.
The company’s operating revenue saw a notable surge, jumping over 8% to INR 3,562 Cr during the quarter from INR 3,288 Cr in Q3 FY24.
Nonetheless, Zomato experienced a decrease in the Gross Order Value (GOV) of its food delivery segment quarter-over-quarter. The GOV dropped to INR 8,439 Cr in the current quarter from INR 8,486 Cr in the preceding one. However, there was a 28% increase in GOV on a year-over-year basis.
Reliance Retail‘s footwear retail chain, Trends Footwear (formerly Reliance Footprint), has inaugurated a new store in Tamil Nadu, as announced by a company representative on social media. The standalone store is situated in Nochipalayam, Thirupur.
“Introducing our newest addition to Trends Footwear in Nochipalayam,” Dhruv Kaura, Vice President of Reliance Retail, shared on LinkedIn.
Established in 2007 under the name Reliance Footprint, with its inaugural store in Indiranagar, Bengaluru, the brand underwent a rebranding in 2019 to become Trends Footwear. By January 2023, the retailer boasted a network of over 700 stores, each spanning an average of 2,000 sq. ft., spread across more than 350 cities.
Reliance Retail, the retail division of Reliance Industries Ltd., manages a comprehensive omnichannel network comprising more than 18,836 stores and digital commerce platforms encompassing grocery, consumer electronics, fashion and lifestyle, and pharmaceutical consumption categories.
Within the retail powerhouse are fashion and lifestyle labels like Reliance Trends, Avantra by Trends, Azorte, Fashion Factory, and Centro. Additionally, it boasts a collection of more than 50 global brands, including Armani, Burberry, Diesel, Gas, Marks & Spencer, Superdry, Brooks Brothers, and Steve Madden.
In March 2024, Kaura, previously serving as the Chief Operating Officer of Aditya Birla Fashion and Retail Ltd.’s ethnic wear brand Tasva, assumed the role of Vice President at Reliance Retail, overseeing Trends Footwear.
Rilastil, the renowned Italian dermatological skincare brand, will make its debut in India this month.
Rilastil is set to introduce a selection of high-quality dermatological products tailored to the needs of Indian consumers, encompassing depigmentation, hydration, acne treatment, facial cleansers, and sun protection. These offerings will be accessible through chosen medical clinics, pharmacies, and online platforms.
“Unveiling our product range in India marks a pivotal moment for our brand, signifying a major milestone as we engage with a fresh group of discerning consumers,” stated Giorgio Berni, Managing Director, Asia Pacific.
Rilastil has been announced as the exclusive skincare partner for both the FC Barcelona women’s football and basketball teams.
“Bringing beauty to India transcends mere product importation; it entails introducing transformative experiences that empower individuals to embrace their unique beauty and confidence. This endeavor aims to redefine standards and ignite self-expression nationwide,” expressed Karan Narula, Head of India Operations.
Established in 1972, Rilastil is under the ownership of the Ganassini Group, an Italian corporate entity. The brand boasts a diverse product line, including moisturizers, sunscreen with SPF 30 and 50+, and depigmenting concentrate drops.
Retail sales in April 2024 surged by 4% compared to the sales levels during the same period in April 2023, as revealed by the Retailers Association of India (RAI) in the latest edition of its Retail Business Survey.
In specific categories, quick service restaurants (QSR) and food and grocery saw a growth of 7% each, while jewellery exhibited a 6% growth compared to sales levels in April 2023.
Consumer durables and electronics, as well as the furniture category, experienced a 5% growth, trailed by beauty, wellness, and personal care, which demonstrated a 4% growth. Meanwhile, apparel, footwear, and sports goods exhibited the least growth, each at 2%.
Kumar Rajagopalan, CEO of RAI, said, “Although the economic indicators for the culinary sector are promising, the retail sector has not yet experienced double-digit growth in line with typical trends.”
The CEO continued, “Customers have been cautious in their spending on non-essential things, although they are more attracted to capital expenditures such as autos, houses, and travel. We expect growth to accelerate following the release of election results in June.”
Retail businesses in various regions have reported increased sales compared to April 2023 levels, with North, South, and West India each experiencing a 5% growth, while East India showed a 2% increase.
RAI serves as the apex body representing retailers in India, collaborating with all stakeholders to foster a favorable environment for the advancement of the modern retail industry in the country.
Soch, a Bengaluru-based ethnic wear brand, will inaugurate its first international store in Canada this Saturday, joining the ranks of Indian retailers expanding globally. Located on North Park Drive in Brampton, the new store will open its doors on May 18th.
“Expanding into Canada is a significant turning point for the brand, indicating our expansion beyond borders & elevating consumer expectations,” said Vinay Chatlani, CEO & co-founder of Soch. “Our objective is to expand our footprint into overseas areas with strong Indian-origin people, and Canada perfectly fits that vision. This expansion demonstrates our dedication to making our offerings more accessible to our consumers.
The store will feature the brand’s latest collection, offering a wide range of designer ethnic wear such as sarees, salwar suits, kurtas, tunics, kurta sets, lehengas, and kaftans.
The new Soch store will preserve the brand’s signature in-store look and feel, along with its advanced tech initiatives like the endless aisle and other omnichannel features. Additionally, Soch has launched an exclusive website for Canada to showcase its collections.
The company plans to expand into other major cities in Canada, as well as into the USA, Malaysia, Singapore, Indonesia, Mauritius, the Middle East, and the UK, further establishing its position as a global leader in ethnic fashion.
With nearly two decades in the industry, Soch has expanded to over 175 stores across 68 cities in India.
This expansion coincides with a broader trend of Indian retailers and D2C brands targeting international markets. According to data, omnichannel retailer Lenskart has been rapidly expanding in the Middle East, having already opened over five stores in countries such as Saudi Arabia and the United Arab Emirates.
Additionally, brands like Tanishq have opened new stores in Chicago, USA; Hamleys in Rome, Italy; Louis Philippe and Van Heusen in Qatar; and Bombay Brasserie in Singapore. These openings bring the total number of international store launches by Indian retailers to over seven in the last quarter of the 2023-24 financial year.
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