As part of the collaboration, gold and silver coins and bars will be swiftly delivered within 10 minutes via the Big Basket Now platform in celebration of Akshaya Tritiya.
Seshu Kumar Tirumala, Chief Buying and Merchandising Officer at Big Basket, remarked, “Through our partnership with Tanishq, renowned for its quality and craftsmanship in the jewelry sector, we aim to offer our customers the opportunity to commemorate Akshaya Tritiya with the finest gold coins, symbolizing prosperity and elegance.”
He further noted that the collaboration with MMTC-PAMP provides customers with top-tier silver coins.
Big Basket, a Tata Enterprise, provides fresh fruits, vegetables, pulses, and various other groceries. The brand operates across over 400 cities in India, catering to approximately 15 million customer orders per month.
MMTC-PAMP is a collaboration between Switzerland’s PAMP SA and MMTC Ltd, a Government of India enterprise. Established in 2008, it operates a state-of-the-art precious metals processing facility, as stated on the company’s LinkedIn page.
As Akshaya Tritiya festivities sweep across the nation, quick commerce platforms are seizing the opportunity to offer gold and silver coins to users within “10 minutes”.
Swiggy Instamart, Tata’s bigbasket, and Zepto have collaborated with several gold-focused platforms and companies to deliver the coins directly to homes within 10 minutes, aiming to bolster sales and strengthen their revenue streams.
In a post on X, Albinder Dhindsa, Co-Founder and CEO of Blinkit, announced that the quick-commerce platform will provide gold and silver coins within 10 minutes. He further mentioned that the Zomato-owned quick-commerce platform will also deliver items such as deity photos, fresh flowers, and other puja essentials within the same timeframe.
Zepto has teamed up with Jar’s in-house jewellery brand, Nek, to sell gold coins from today. Nischay AG, co-founder of Jar, posted on X, “On this Akshaya Tritiya, get your @nekjewelry gold coins on @ZeptoNow.”.
Swiggy Instamart announced in a statement that it will swiftly deliver gold and silver coins (in various weights) “within minutes” through partnerships with Malabar Gold and Diamonds and Muthoot Exim. Additionally, the quick-commerce giant will provide associated products like silver spoons, silver glasses, flowers, and puja essentials to users on Akshaya Tritiya.
“Akshaya Tritiya is of great significance in Hindu culture because it represents prosperity and abundance. The day is also believed to be auspicious for purchasing gold and silver. Swiggy Instamart has partnered with Malabar Gold & Diamonds and Muthoot Exim to deliver certified silver and gold coins directly to customers’ doorsteps in minutes, making it easier to celebrate this auspicious occasion with the purchase of precious metals,” Swiggy stated.
Following suit, Tata-owned BigBasket has teamed up with sister company Tanishq and MMTC-PAMP to provide gold and silver coins, as well as bars, to users within 10 minutes.
In a statement, BigBasket announced that it will feature offerings such as MMTC-PAMP Lakshmi Ganesh (999.9 purity) silver coins, 22 carat gold coins, and more.
Swiggy also mentioned that gold coins bought through Instamart will be offered in 24 carats with 999% purity, while silver coins will have a purity of 999%.
“The success of last year’s Dhanteras coin sales underscores the growing consumer interest in quick commerce for auspicious purchases. Collaborating with reputable brands only strengthens their trust. Our teams are prepared to meet the heightened demand, guaranteeing a smooth experience for everyone this Akshaya Tritiya,” stated Phani Kishan, CEO of Swiggy Instamart.
In reference to the new releases, Seshu Kumar Tirumala, Chief Buying and Merchandising Officer at BigBasket, remarked, “Our partnership with Tanishq guarantees that our customers can commemorate Akshaya Tritiya with top-tier gold coins, embodying prosperity and sophistication. Moreover, our collaboration with MMTC-PAMP ensures our customers receive premium silver coins, infusing purity and tradition into their festivities. All of these will be delivered within 10 minutes.”
With this array of offerings, quick-commerce platforms are capitalizing on the long-standing tradition of purchasing gold during the festival. For context, according to industry insiders, an estimated 15 to 20 tonnes of gold are sold around Akshaya Tritiya.
While the figure is anticipated to be lower this year due to elevated gold prices, the sector still presents an enticing opportunity for these new-age tech firms to bolster their revenues. Additionally, larger transaction sizes are expected to significantly enhance the average order values (AOVs) of quick-commerce platforms, a crucial metric.
The introduction of these new offerings will provide these platforms with an opportunity to strengthen their presence in the religious offerings market, which is primarily dominated by unorganized brick-and-mortar stores and local vendors (especially for flowers). Moreover, this market is rapidly expanding.
According to a report, the Indian religious and spiritual market was valued at approximately $59.7 billion in 2023 and is forecasted to reach $127.8 billion by 2032.
BanyanTree Growth Capital, a well-established private equity firm with a strong track record in the Food & Beverage sector, has made a strategic investment in Bizibean, the celebrated café chain renowned for its specialty coffee and tea offerings in New Delhi and Gurugram. This partnership enhances the consumer experience under the iconic brands Nirula’s and “Angels in my Kitchen“, creating a powerhouse trio in India’s café and casual dining landscape.
Nirula’s, cherished by Delhiites, embodies a legacy of culinary excellence with its famed Hot Chocolate Fudge, Ice Creams, Big Boy Burgers, and Pizzas. Meanwhile, “Angels in my Kitchen,” supported by BanyanTree Growth Capital, delights patrons with its exquisite array of baked goods and desserts. Together, these brands create a harmonious fusion of offerings, catering to diverse tastes and preferences.
With the addition of Bizibean, the portfolio now extends into the realm of premium coffees and teas, enriching the café experience for customers. Emerging as a modest kiosk in Gurgaon’s South Point Mall, Bizibean has evolved into a prominent name in the coffee industry, renowned for its exceptional espresso and diverse brewing methods such as Espresso, Pourover, Aeropress, and French Press. Founded by industry veterans Aharnish Mishra, Manideep Chhokra, and Raj Singh, Bizibean has earned the prestigious Times Food Award for “Best Café- Casual Dining Gurgaon” for six consecutive years.
Sanjiv Singhal, Founder of BanyanTree Growth Capital, expressed his excitement, saying, “We are delighted to welcome Bizibean to our portfolio of premium brands. This partnership not only expands our food and beverage offerings, but it also aligns with our vision of providing exceptional dining experiences. We believe that incorporating Bizibean’s speciality coffees and teas will enhance and enrich the culinary experience at Nirula’s and Angels in my Kitchen, providing our customers with an even more diverse range of options.”
This strategic investment signifies a notable milestone, amalgamating the prowess of three influential brands. Customers can now relish a seamless fusion of coffee with their beloved Nirula’s meal or alongside a delightful indulgence from “Angels in my Kitchen”. The enhanced menu boasts an extensive selection of espresso-based beverages, including Espressos, Cortados, Cappuccinos, Lattes, Americanos, and Frappes, paired with an array of croissants, muffins, brownies, quiches, pastries, cakes, desserts, sandwiches, and wraps.
BanyanTree Growth Capital firmly believes that this partnership will revolutionize the café experience in India, providing an unparalleled variety and quality of food and beverage options all under one roof.
Indian Hotels Company (IHCL) has announced a strategic alliance with CG Hospitality, with the aim of expanding its portfolio within the Indian sub-continent. Their ambitious plan entails reaching a total of 25 hotels by the year 2025, with an estimated investment of approximately INR 4,000 crore.
Managing Director and Chief Executive Officer of IHCL, Puneet Chhatwal, outlined that this portfolio expansion will comprise 11 operational hotels with 900 rooms, along with the addition of 14 properties under the unified platform named ‘Ekyam’. These endeavors are geared towards exploring opportunities in regions offering adventurous experiences such as the Indian Ocean and Greater Himalayan areas, as well as wildlife retreats.
Ram Maheshwari, IHCL’s Vice President Commercial, will spearhead the ‘Ekyam’ platform, he further added.
“For over two decades, we have maintained a strong partnership with CG Hospitality, a distinguished member of the renowned CG Corp Global. We are thrilled to announce that the next phase of this collaboration will focus on accelerating growth within the Indian sub-continent.”
Chhatwal expressed, “This collaboration, operating under the banner of Ekyam, will delve into managing hotels across regions encompassing the Himalayas, Indian Ocean, and bolstering the wildlife sector.”
He further mentioned that the total investment for this portfolio of 25 properties, comprising 2,500 rooms under the Ekyam platform, could approach approximately INR 4,000 crore.
Taj Exotica Resort & Spa, Taj Coral Reef Resort & Spa in the Maldives, Taj Samudra, Colombo, Sri Lanka, Taj Jumeirah Lakes Towers in Dubai, and Taj Safaris, India and Nepal’s wildlife luxury lodges, are among the company’s current operations in the Indian subcontinent and Middle East.
“The platform will begin with the existing portfolio of 11 operational hotels. We have already invested over INR 1,250 crore in both the operational and forthcoming hotels, and we are dedicated to incorporating 14 additional hotels through this partnership,” stated Rahul Chaudhary, Managing Director of CG Hospitality.
Binod Chaudhary, Chairman of CG Corp Global, emphasized the vast opportunities within this portfolio and expressed pride in CG Hospitality’s enduring 25-year partnership with Tata Group’s IHCL.
Foodtech giant Zomato‘s Founder, Deepinder Goyal, unveiled the launch of a new feature on the food delivery platform—Photo Cakes. This special service allows consumers to upload their own photos and have them transformed into personalised cakes that are delivered to their doorstep in just about 30 minutes.
Goyal recounted his firsthand encounter with the feature, illustrating its significance by commemorating an employee’s remarkable milestone of 10 years at Zomato. Aashna, who embarked on her journey with the company at the young age of 20, presently holds a pivotal role as a co-leader within Zomato’s people and HR team.
The Photo Cakes feature is presently available in select regions of Delhi-NCR, with plans to extend its reach to additional cities in the near future. Goyal conveyed appreciation to Zomato’s restaurant partners for their tight-knit cooperation in bringing this service to fruition, perfectly timed for Mother’s Day.
Goyal’s tweet read, “You can now upload your picture and receive a personalized cake in about 30 minutes. I tested the feature myself to celebrate Aashna’s 10-year journey at Zomato. She joined shortly after turning 20 and now co-leads the people/HR team. Give photo cakes a try—available in select areas of Delhi-NCR, more cities coming soon! A big thank you to our restaurant partners for their close collaboration on this launch, just in time for Mother’s Day.”
A more light hearted update for today – we just launched Photo Cakes on @zomato – now you can upload your picture and get a customized cake delivered in about 30 minutes.
Tested the feature myself to congratulate Aashna on completing 10 yrs at @zomato. She joined Zomato a few… pic.twitter.com/wmgb5gO7bA
Photo Cakes enables customers to infuse their special occasions with a distinctive and heartfelt touch, commemorating milestones, accomplishments, and treasured memories through delectable and personalized delights.
One user commented, “While it’s a commonly found feature these days, it’s undoubtedly a valuable addition to your growth narrative.”
This is among the several new initiatives Zomato has introduced in recent months. Their most recent endeavor, a green fleet focused on delivering exclusively vegetarian food, met with social media criticism and was promptly reversed.
The US-based salty snack food brand, Utz, has once again partnered with Mike’s Hot Honey to unveil their newest offering: the extra-hot potato chips flavor.
Now accessible until September, this exclusive flavor ramps up the spiciness of the original Utz Mike’s Hot Honey chips by threefold. These ‘swicy’ (sweet and spicy) potato chips are both gluten-free and kosher-certified, available in convenient 2.625-ounce packs for on-the-go snacking or larger 7.75-ounce sizes for enjoying at home.
Initially introduced as a limited-time offer in May 2023, the original Utz Mike’s Hot Honey potato chips swiftly captured the public’s interest, transitioning to a permanent flavor by August of the same year. Its exceptional reception surpassed sales records set by Utz’s prior limited-time launches.
According to Utz Brands’ marketing director, Amber McGrogan, “Hot and spicy” currently reigns as the top flavor in salty snacks. Thus, following the triumph of our original Mike’s Hot Honey potato chips, we aimed to provide fans with an even spicier snacking choice.”
In addition, she said, “We look forward to working together to bring the sweet heat to snacking fans nationwide. They have been a great partner over the last year.”
Building upon the ‘swicy’ trend, Utz unveiled Utz Mixed Mini pretzels in Mike’s Hot Honey flavor in March 2024, providing fans with additional avenues to savor the delightful blend of sweet and heat found in Mike’s Hot Honey.
Utz Mike’s Hot Honey Extra Hot potato chips are currently available at leading grocery, mass, and convenience retail stores nationwide, as well as online.
Commenting on the release, Mike’s Hot Honey founder, Mike Kurtz, expressed, “At Mike’s Hot Honey, we believe everything gets better with the perfect blend of sweet and heat, and that’s especially evident with the immensely popular Utz Mike’s Hot Honey potato chips. Having sampled the new Utz Mike’s Hot Honey Extra Hot Chips ourselves, we’re confident that Utz fans will embrace them as passionately as we do.”
Dr. Kaushik Banerjee FRSC, FNAAS, expressed his enthusiasm about the collaboration, stating, “We are pleased to team up with Agilent to bolster national food safety through a sustainable approach. Since introducing our inaugural comprehensive GC-MS/MS multi-residue monitoring procedure in 2012, we have developed and implemented various analytical methods for stakeholders in the food sector. This collaboration is centered around addressing the increasing demand for food analysis and supporting laboratories that comply with regulatory standards such as FSSAI, EIC, APEDA, and Community Boards. Looking ahead, we anticipate significant opportunities and responsibilities. The burgeoning demand for food analysis in the country is the focal point of this public-private partnership.”
Samir Vyas, the general manager, also conveyed his vision, stating, “This partnership is not solely about strengthening the supply chain with safe and nutritious foods but also about propelling India’s growth trajectory in global exports through technological advancements. Through training sessions and workshops aimed at fostering skill development among technical personnel, Agilent, in collaboration with NRCG, is dedicated to establishing new benchmarks in food safety standards.”
This partnership between Agilent and ICAR-NRCG aims not only to enhance existing workflows but also to promote the adoption of new regulations and engage in policy discussions actively, thereby shaping the future of food safety standards in India.
Popeyes, the American restaurant chain, has diversified its chicken sandwich menu by introducing the all-new Golden BBQ Chicken Sandwich in the US.
The latest addition to the menu showcases a buttermilk-battered chicken breast crafted from all-white meat, generously coated in Golden BBQ sauce, and presented on a buttery-toasted brioche bun accompanied by barrel-cured pickles.
Customers have the option to personalize their sandwich with Havarti cheese and Applewood smoked bacon, and it’s available at participating restaurants across the nation.
Amy Alarcon, Popeyes’ Vice President of Culinary Innovation and Chef, expressed, “We aimed to craft something that reignites our guests’ passion for lunchtime.”
“The Golden BBQ Chicken Sandwich offers a delightful blend of sweetness and tanginess in every mouthful, ideal for those seeking to add some zest to their midday dining experience. It’s all about injecting a bit of happiness, a dash of anticipation, and an abundance of flavor onto the plate—or perhaps, the desk.”
The Golden BBQ Chicken Sandwich marks the newest addition to Popeyes’ menu. In April 2024, Canadian patrons were delighted with the limited-time offerings of the Buffalo Crispy Chicken Wrap and Loaded Buffalo Poutine.
The Buffalo Crispy Chicken Wrap is a variation of the Crispy Chicken Wrap that debuted in July 2023.
In March 2024, Popeyes launched Honey Lemon Pepper Wings, a limited-time offering with sweet, tangy, and peppery flavours. The wings were first available exclusively through the Popeyes app along with website from March 19 to March 31, and then in restaurants starting April 1.
Pune-based Kisanserv is planning to expand its operations by opening 250 new retail stores across Pune and Mumbai over the next three years, thereby tripling its current footprint.
The company’s competitive edge lies in offering fresh, premium-packed fruits and vegetables at prices 15–25% lower than the market average.
Niranjan Sharma, the Founder and CEO of Kisanserv, said, “At Kisanserv, our mission is twofold: to offer consumers affordable, high-quality produce and to bolster local farmers by guaranteeing fair prices and direct sourcing.”
Within just 15 months, the company has already set up 25 stores in Pune and Mumbai. Looking forward, Niranjan Sharma has laid out a vision for the future, with plans to inaugurate an additional 250 retail outlets specializing in fruits and vegetables across Pune and Mumbai within the next three years.
Looking ahead, Kisanserv emphasizes its ongoing commitment to upholding its reputation for excellence in product quality, affordability, and sustainability. These expansion plans are in line with the company’s vision of cultivating a sustainable and efficient urban retail ecosystem, benefiting both consumers and farmers alike.
Kisanserv highlights its transition from a technology-focused software developer to a disruptive force in the retail market, showcasing innovation as its fundamental principle. “Technology underpins all our endeavors,” remarks Praveen Tiwary, Co-founder and Chief Technology Officer at Kisanserv. “Our software enhances operations, minimizes errors, and furnishes valuable data insights, enabling us to continuously enhance our offerings and address the changing demands of our customers.”
In a time marked by growing consumer awareness, Kisanserv’s focus on ethically procured, top-tier produce at competitive rates strikes a chord with environmentally and health-conscious shoppers. The company asserts that this deliberate positioning has empowered it to seize a considerable portion of the burgeoning urban fresh produce market.
Through harnessing technology and fostering innovation, Kisanserv stands ready to reshape the urban retail terrain, offering benefits to consumers while empowering farmers throughout India. Residents of Pune and Mumbai can anticipate the advantages of Kisanserv with the imminent launch of stores across both cities!
Bajaj Consumer Care Ltd, a fast-moving consumer goods (FMCG) company, has reported a 12 per cent decline in consolidated net profit to INR 35.58 crore for the fourth quarter ended March 2024. According to a regulatory filing by the company, this figure is down from the consolidated net profit of INR 40.46 crore posted in the same quarter of the previous fiscal year.
During the quarter in review, its consolidated total revenue from operations amounted to INR 239.96 crore, compared to INR 249.42 crore in the corresponding period of the previous year.
In the fourth quarter, the company’s total expenses decreased to INR 208.08 crore from INR 210.33 crore recorded a year ago.
The company reported a higher consolidated net profit of INR 155.43 crore for the fiscal year ended March 2024, compared to INR 139.22 crore in FY23.
In FY24, the consolidated total revenue from operations amounted to INR 984.12 crore, up from INR 960.87 crore in the preceding fiscal, according to the statement.
At its meeting held on Wednesday, Bajaj Consumer Care announced that its board of directors had considered and approved a proposal for the buyback of 57.41 lakh equity shares with a face value of INR 1 each, representing 4.02 per cent of the total number of paid-up equity shares of the company.
According to the filing, the buyback price has been set at INR 290 per equity share, with an aggregate amount not exceeding INR 166.49 crore.
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