The jewellery brand Mia by Tanishq, a part of the diversified conglomerate Tata Group, has opened four new stores in Tamil Nadu as part of its expansion initiative. To celebrate the inauguration, the brand is offering discounts of up to 20 percent on Mia’s product range until May 5th.
The company has opened three new stores, one each in Kellys, Adyar, & Velachery in Chennai, while another in Tiruppur District.
“We were thrilled with the tremendous reaction we received when we opened 12 new Mia by Tanishq stand-alone boutiques in Tamil Nadu last year. “We are launching four new stores in Chennai (3) and Tiruppur (1) between,” stated Shyamala Ramanan, Business Head of Mia by Tanishq.
Ramanan emphasized, “Mia comprehends the desires of contemporary women, seeking jewelry that mirrors their individuality. Our offerings feature lightweight designs crafted with trendy flair, tailored to match their preferences.”
BOSH!’s Falafel Wrap and Gingernut Loaf Cake with Oat Iced Latte
Costa Coffee has strengthened its partnership with plant-based food provider BOSH! by introducing two new vegan products across its stores in the UK.
In response to the increasing demand for plant-based options, Costa Coffee is set to launch The Fab Falafel and Houmous Wrap along with the Gingernut Loaf Cake in May 2024.
The Fab Falafel and Houmous Wrap, a vegan delight, melds spinach and pine kernel falafel with spiced chutney and houmous, all crowned with pink pickled onions.
It offers a nutritious choice for customers during lunchtime.
Paired with an Oat Latte, the Gingernut Loaf Cake offers a delightful indulgence, boasting warm spices, sweetness, ginger frosting, and a crumbly ginger biscuit topping.
The latest additions are currently accessible at 2,600 Costa Coffee outlets throughout the UK.
Since initiating their partnership in January 2024, both Costa Coffee and BOSH! have been actively working to increase the availability of plant-based options for busy consumers on-the-go.
Cathy Goodwin, Head of Food Innovation at Costa Coffee, remarked, “Our partnership with BOSH! keeps progressing, now bringing forth two new summer delights.”
“We’re excited to provide our customers with even more delectable plant-based options to enjoy either in-store or on-the-go with these offerings.”
Henry Firth and Ian Theasby, co-founders and co-CEOs of BOSH!, expressed, “The high street’s plant-based choices have received a significant boost with the introduction of one new sweet and one new savory product in collaboration with Costa Coffee.”
“By offering these options, we aim to encourage more plant-based eating, providing the perfect bite for a delightful lunch in the sunshine.”
BOSH! has recently obtained B Corp certification, reaffirming its dedication to ethical business practices and environmental sustainability.
In April 2024, Starbucks Hong Kong unveiled a fresh plant-based meal option in collaboration with UNLIMEAT, a leading South Korean plant-based meat producer.
The UNLIMEAT Pulled Pork Wrap boasts vegan pulled pork alongside crisp vegetables such as carrots, red cabbage, and lettuce.
The Food Safety and Standards Authority of India (FSSAI) recently launched an investigation into alleged norm violations within branded spice products. Now, FSSAI plans to expand its oversight to include other food items such as fortified rice, dairy products, and spices sold in the domestic market.
According to sources, FSSAI also intends to monitor food items such as fruits and vegetables, salmonella in fish products, spices and herbs, fortified rice, and milk and dairy products. They are already collecting samples of powdered spices from all brands, including MDH and Everest, from across the country, as concerns about quality have been raised by Singapore and Hong Kong.
“In view of the current development, the food regulator is gathering samples of spices from all brands to check whether they adhere to regulations,” a source said on April 22.
According to sources, the FSSAI does not oversee the quality of spices meant for export. In a recent development, the Centre for Food Safety (CFS) in Hong Kong advised consumers against purchasing certain spice products, including Madras Curry Powder, Everest Fish Curry Masala, MDH Sambhar Masala Mixed Masala Powder, and MDH Curry Powder Mixed Masala Powder. They also urged traders not to sell these items.
The CFS reported the discovery of the pesticide ethylene oxide in samples of various pre-packaged spice mixes from two Indian brands.
Following the directive from Hong Kong, the Singapore Food Authority (SFA) has also issued a recall order for ‘Everest Fish Curry Masala’ imported from India.
Last week, the FSSAI announced that it was in the process of collecting samples of Nestle’s Cerelac baby cereal across India following global reports indicating that the company had added higher levels of sugar to the product.
Sources indicate that the FSSAI is conducting extensive nationwide surveillance of various food products to evaluate their compliance with relevant regulations in India.
Over the last few years, there has been a notable surge in the number of samples analyzed, escalating from 107,829 in 2020-21 to over 451,000 in 2023-24, marking a more than threefold increase. In 2020-21, out of the 107,829 samples analyzed, 28,347 were found non-compliant. In 2021-22, 144,345 samples were analyzed, with 32,934 found non-compliant.
In the fiscal year 2022-23, a total of 177,511 samples underwent analysis, with 44,626 found to be non-compliant. In the most recent financial year, 451,296 samples were analyzed.
The rise in the number of cases initiated and convictions reflects the dedicated efforts of the relevant food safety authorities in enforcing the FSS Act of 2006.
Aashnee Gajaria, the Co-Founder and CMO of Niblerzz
In India, where the candy aisle often reflects a sugary wonderland, a home-grown D2C brand Niblerzz Food and Confectionery Pvt Ltd emerges as a game-changer, reshaping the landscape with its revolutionary approach to sweet indulgence. Despite the plethora of options available, the market for sugar-free and vegan candies remains relatively untapped in India. However, Niblerzz’s bold entry into the scene signifies a seismic shift, capturing the hearts of health-conscious consumers and establishing a unique foothold in the confectionery domain.
As it celebrates its second anniversary with remarkable growth, talking to SnackFax, Aashnee Gajaria, the Co-Founder and CMO of Niblerzz, shared insights into the journey of their innovative candy brand post their appearance on Shark Tank season 3.
“We turned two on April 4th. And it’s been an amazing journey. We are already available in over 140 locations across 19 cities in retail. Still bootstrapping, with a tiny circle of friends and family,” Aashnee said.
Despite being bootstrapped, Niblerzz has secured placements in esteemed retailers like Hamleys and Crossword, standing shoulder to shoulder with established giants in the confectionery realm such as Hershey’s Kisses, M&M’s, and Cadbury’s, to name a few. “Niblerzz is India’s first clean, better-for-you confectionery brand. We aim to cater to every sweet palate, offering a range of products from hard-boiled candies to soft-boiled candies and chocolates,” she stated.
Appearing in Shark Tank Season 3 provided them with a pivotal platform, amplifying its visibility and garnering widespread consumer interest. Aashnee shared the experience, “The whole experience was fantastic. We are grateful to the Shark Tank and Sony team for providing us with this platform, but it was not an easy feat. We went with the mindset that it was a once-in-a-lifetime opportunity for our company,” she said.
After its appearance on the show, Niblerzz experienced surge in popularity. The Co-Founder recounted heartwarming stories of customer engagement, with parents expressing unwavering support and children enthusiastically embracing Niblerzz products. “People have sent us messages of support. They’ve shared images of kids enjoying our products. During a Delhi event in April, parents approached us saying, we continue to buy from you.” These gestures, including messages, social media interactions, and in-person encounters, underscore the deep connection customers feel towards the brand.
The brand’s commitment to clean ingredients and delectable flavors has earned it a dedicated fan base, evident in the surge of sales, which has quadrupled compared to its inaugural year.
“Initially we were offering just one product, in July and August of 2023, we launched peanut chocolate butter cups and lollipops. Notably, lollipops have surpassed sales of mixed fruit gummies in the shortest span. Being India’s first clean lollipop—free from artificial flavors, colors, and preservatives—has further contributed to our success. And yes, I see the brand growing as we plan to launch new products and extend retail operations,” she said.
Discussing Niblerzz’s retail strategy, Aashnee revealed their focus on A+ organic and gourmet stores, strategically positioning their products where parents and children frequently visit. She emphasized the brand’s appeal to children, stating, “Once a child sees our product, it becomes a must-have, creating a delightful challenge for parents.”
Aashnee then described the brand’s offline and online sales dynamics, noting a significant portion of repeat purchases occurring offline due to the impulse nature of candy buying. “The category we play is still niche. It’s not top of the mind, so its impulse indulgence. Interestingly, while online platforms like Amazon and D2C website play a significant role in sales, offline retail remains a stronghold, with repeat purchases,” she said.
She stressed the significance of trials in converting customers, especially in physical retail settings. “If people don’t taste the product, they won’t know if it’s good. And if it’s not enjoyable, they won’t purchase it again. That’s why many customer interactions and purchases occur offline. We’ve observed consistent repeat purchases since entering retail and marketplaces within just two or three months of our launch,” she explained.
Currently, the brand is extensively working on an expansion roadmap with innovative marketing initiatives. “We’re looking to add at least one or two new products this fiscal year, most likely before the festive season because we want to double down on the celebrations.”
Besides this, their packaging strategy also showcases focus on marketing. “We have kept it very bright and colorful to maintain the category codes. We also have the Paw Patrol licence in India, which is like what McDonald’s and Cadbury’s do with their Mac Meals and Minion toys. But we, as a startup, have the licence and are providing kids with the same collection experience that we had when we were collecting WWE cards, Pokemon cards and even Tazos.”
They’ve something for this summer too, Aashnee revealed. Niblerzz is gearing up for summer by venturing into summer camps and play areas, capitalizing on increased consumer activity during the season. Additionally, the introduction of exclusive play date boxes on their website caters to evolving consumer needs for unique experiences. “We have curated special play date boxes for the summer which kids can buy while enjoying their lego sessions and movies.”
In terms of expansion, Niblerzz prioritizes consolidating its presence in key markets such as the South and West regions of India, leveraging the success witnessed in metros and tier 2 cities. “Our focus is on doubling down on the cities where we’re already seeing success. Cities like Mumbai, Bangalore, Chennai, Hyderabad, Ahmedabad, and others have shown promising results. In the north, we’re concentrating on cities like Delhi, Chandigarh, and Noida, where our brand is gaining traction,” she said.
The Indian candy market, rooted in centuries-old sweet traditions, has evolved to meet the changing tastes of consumers. From traditional ‘mithai’ to global confections, it’s a dynamic segment within India’s food industry. According to TechSci, it hit USD 1845.2 million in 2023 and is expected to grow at 15.2% CAGR from 2025 to 2029, fueled by ongoing product innovation.
Asking about the competitive landscape in the market, while many international brands have entered India, Aashnee doesn’t feel the heat. “We don’t view them as direct competition. Instead, we see them as incumbents who will inevitably need to adapt to changing consumer preferences for cleaner, healthier products,” she said.
According to her, the recent example of Bournvita highlights the shift towards healthier choices, impacting both consumer behavior and product offerings. “We believe that in the coming years, this shift will become more pronounced, providing an opportunity for us to establish ourselves as a leading Indian brand offering healthier alternatives,” she asserted.
Myntra, the e-commerce marketplace, has enlisted Bollywood actor Ayushmann Khurrana as the brand ambassador for Nautica, the American lifestyle brand, as announced by the online retailer.
Khurrana will lead the promotional campaign for the brand’s latest Spring Summer collection, set to be showcased nationwide.
Nautica’s latest Spring-Summer campaign eloquently captures the adventurous essence of men. With Khurrana on board, we anticipate a considerable boost in Nautica’s brand visibility, resonating deeply with the brand’s target demographic, which aligns seamlessly with the actor’s loyal fan base,” remarked Venu Nair, Myntra’s Chief of Strategic Partnerships and Omnichannel.
In 2019, the online retailer Flipkart Group entered into an agreement with Authentic Brands to procure the licensing and distribution rights for the apparel brand Nautica in the Indian market. Flipkart secured exclusive rights to Nautica in India, and the brand is currently available for purchase on Flipkart and its fashion platforms, including Myntra.
The latest ad campaign starring Khurrana is being rolled out across multiple channels, encompassing print, outdoor, social media, and digital platforms. The collection is targeted towards men aged 22 to 60.
“I’m delighted to be the face of an iconic brand like Nautica. The latest summer collection pays homage to daring men, effortlessly intertwining modern trends into its designs. My personal style resonates harmoniously with Nautica’s aesthetic, and I’m thrilled to facilitate a connection between the brand and its audience,” expressed Khurrana.
Nautica boasts an extensive range of offerings spanning more than 35 categories, encompassing apparel, accessories, and a home collection tailored for men, women, and children. Presently, the brand is accessible through nearly 1,400 freestanding stores and shop-in-shops across over 65 countries globally, as well as online via Nautica, Myntra, and Flipkart.
Myntra provides a diverse selection of more than 6,000 fashion and lifestyle brands. Collaborating with renowned global names such as Mango, Nautica, Slazenger, and numerous others, the platform serves as a distribution channel for their products in India.
According to the Myntra Trend Index, Myntra has drawn in roughly 75 million new users over the past year, with 65% of them originating from non-metro areas.
Titan, a leading player in consumer discretionary goods, reported a 7% year-on-year (YoY) surge in its standalone net profit, amounting to INR 786 crore, aligning closely with market expectations.
The profit matched the Street’s estimate of INR 794 crore.
In January-March 2024, net sales surged 17% year-on-year to INR 10,047 crore, compared to INR 8,553 crore in the corresponding period last year. The Board has proposed a dividend of INR 11 per equity share for the fiscal year 2024.
The Board has additionally endorsed the reappointment of CK Venkataraman as the Managing Director of the company, extending his tenure from October 2024 to December 2025.
EBIT increased by 8% year-on-year to INR 1,139 crore in the fourth quarter, although EBIT margins experienced a 95 basis points drop, settling at 11.1%.
At a consolidated level, Titan witnessed a 22% total income growth, reaching INR 11,472 crore. Concurrently, consolidated profit after tax (PAT) increased by 5% year-on-year to INR 771 crore.
Breaking it down by segment, the total income from the jewellery business surged by 19% year-on-year to INR 8,998 crore, with the Indian business experiencing a 20% rise during the same period.
The segment’s EBIT reached INR 1,089 crore for the quarter, carrying a margin of 12.1%. Over the full year, the jewellery segment saw a 20% total income increase to INR 38,353 crore, with EBIT totaling INR 4,726 crore.
The watches and wearables business achieved a total income of INR 940 crore, marking an 8% year-on-year increase. Concurrently, the domestic business experienced a 9% year-on-year growth in the same period.
The segment’s EBIT amounted to INR 80 crore, yielding a quarterly margin of 8.5%. Over the full year, the division achieved a total income growth of 18%, reaching INR 3,904 crore.
Revenue from analog watches increased by 9% year-on-year to INR 787 crore, propelled by premiumization and increased average price realizations. Wearables revenue grew by 3% year-on-year while doubling in volumes compared to the same period last year.
In the March quarter, the EyeCare business generated a total income of INR 166 crore, remaining unchanged compared to the previous year’s period. The business achieved an EBIT of INR 8 crore, resulting in a quarterly margin of 4.8%.
Throughout the full year, the EyeCare division witnessed a 5% total income growth, reaching INR 724 crore. The corresponding EBIT for the year amounted to INR 85 crore, with margins standing at 11.7% for the entirety of the year.
The emerging businesses, encompassing Indian dress wear, fragrances, and fashion accessories (F&FA), achieved a total income of INR 97 crore in the March quarter, marking a 26% year-on-year growth. However, the combined businesses incurred a loss of INR 22 crores in the reporting quarter.
Taneira witnessed a 36% sales growth compared to Q4FY23. Moreover, the brand’s 5th edition of the Taneira Saree Run in Hyderabad attracted over 4,200 saree enthusiasts, celebrating the saree as a symbol of liberation.
The F&FA business experienced a 13% year-on-year increase in the fourth quarter. Notably, fragrances rose by 9%, while women’s bags surged with a remarkable 97% growth in their respective key sub-segments.
Among key subsidiaries, Caratlane Trading recorded a 29% total income growth, reaching INR 748 crore. The EBIT for the quarter stood at INR 52 crore.
“FY24 marked another gratifying year for Titan. Our Jewelry business maintained its upward trajectory, reaching a significant milestone of over INR 40,000 crore in consumer sales. As we anticipate FY25, all divisions of Titan Co are steadfastly committed to catering to the ever-evolving preferences of our lifestyle consumers,” stated CK Venkataraman, MD.
On Friday, Titan’s stock closed 1.5% lower at Rs 3,514.75 on the NSE.
Raymond Ltd reported a notable 18 percent increase in its consolidated profit after tax, reaching INR 229 crore for the fourth quarter ended March 2024. This marks a significant rise from the INR 194 crore consolidated profit after tax recorded in the corresponding quarter of the previous fiscal year.
In the quarter under review, consolidated net revenue amounted to INR 2,688 crore, marking a 23 percent increase from INR 2,192 crore recorded in the same period last year.
For the fiscal year ended March 2024, the consolidated profit after tax stood at INR 1,638 crore, a substantial increase from INR 529 crore reported in the preceding fiscal year.
The company stated that consolidated net revenue for FY24 reached INR 9,286 crore, surpassing the INR 8,337 crore recorded in FY23.
Raymond Ltd’s Chairman and Managing Director, Gautam Hari Singhania, remarked that business across all segments showcased steady growth throughout the year.
He added, “Despite challenges and subdued consumer demand, our lifestyle business displayed robust resilience and achieved growth. In real estate, we’ve sustained a vigorous pace of bookings, especially with the introduction of our inaugural JDA project in Bandra, Mumbai.”
He added that the company’s three sectors—lifestyle, real estate, and engineering—are anticipated to serve as future growth catalysts.
In a regulatory filing, Raymond announced that its board has approved the re-appointment of Singhania as Managing Director for a term of five years starting from July 1, 2024.
Sarovar Hotels has expanded its presence in Jaipur with the opening of V Sarovar Portico, its sixth establishment in the bustling city. Positioned strategically close to key transportation centers such as Jaipur Railway Station and just a short 20-minute drive from Jaipur International Airport, the hotel provides an unmatched opportunity for travelers seeking to delve into the essence of Jaipur.
Situated on Sansar Chandra Road, alongside MI (Mirza Ismail) Road, the hotel features 106 rooms divided into two categories: Deluxe and Premium. At Flavours – All Day Dining restaurant, catering to 75 guests, visitors can savor a delightful blend of Western, Indian, Asian, and Rajasthani cuisines. Meanwhile, Jharokha – an exclusive Indian restaurant accommodating 95 diners, offers a refined atmosphere along with a menu showcasing the hotel’s signature curries and kebabs.
For corporate functions and social gatherings, the hotel provides top-notch facilities. With cutting-edge technology, its boardrooms facilitate seamless meetings, while the spacious banquet halls—Regal I & Regal II—can host up to 350 and 115 guests, respectively.
Ajay K Bakaya, Managing Director of Sarovar Hotels & Director of Louvre Hotels India, expressed his excitement regarding the inauguration, stating, “The introduction of V Sarovar Portico marks a notable achievement for us. This hotel epitomizes our commitment to providing unparalleled experiences and convenience to our guests. With this new addition, we’ve bolstered our presence in the leisure market and met the increasing demand for high-quality accommodations in Jaipur.”
SLMG Beverages, a prominent franchise bottler for Coca-Cola in India, is strategizing to establish a PET bottle recycling facility through a joint venture with Coca-Cola India and Maharashtra’s Dalmia Packaging, involving an investment ranging from INR 90 to 100 crore.
The recycling plant is expected to have the capacity to process 36,000 tonnes of food-grade plastic each year, while also producing 24,000 tonnes of PET bottles, representing 20% of its total sales output.
SN Ladhani, Chairman & Managing Director of SLMG Beverages, anticipates that within the next few years, the government will enforce regulations requiring all plastic product manufacturers to integrate recycled plastics into their production processes.
He mentioned that while western countries utilize recycled plastic up to 50%, the company anticipates the usage to be around 30% in India.
He noted that previously, recycled plastic wasn’t used in food-grade products. However, there are now advanced technologies available in Germany, Japan, and the US to ensure that recycled plastic is as good as virgin plastic.
The primary hurdle in plastic recycling lies in the collection of discarded plastic bottles. SLMG is relying on its joint venture partner, Dalmia Packaging, to manage the sourcing of plastic for recycling, given its existing presence in that sector.
The company has already pinpointed the location between Lucknow and Kanpur for establishing the facility and is currently in the process of procuring the machinery.
“We sent a letter to the central government requesting the same concessions granted to recyclers in various industries.” “We expect to begin production in two years,” he stated.
In an effort to streamline operations and explore opportunities in the capital market within the next 2-3 years, SLMG has appointed Costin Mandrea, a seasoned Coca-Cola executive, as CEO.
Operating seven plants with a daily bottling capacity of 41 crore units in Uttar Pradesh, SLMG caters to 90% of Coca-Cola bottle supply in the state. Additionally, it fulfills the entire demand for Coke in Uttarakhand and maintains a presence in Bihar and Madhya Pradesh.
It serves over 300 million people through its network of 1.5 million outlets and a distribution system comprising over 1,500 distributors across all four northern states.
Mandrea has devised plans to specialize each bottling plant in the production of a specific Coca-Cola beverage, aiming to enhance cost efficiency through the utilization of artificial intelligence in the transportation of finished goods.
Adani Wilmar has set its sights on expanding its food and FMCG operations to reach approximately INR 10,000 crore within the next three years. In FY24, revenues from the food and FMCG segment had already reached close to INR 5,000 crore, showing nearly a doubling in just two years. Additionally, the company is actively enhancing its direct and indirect market penetration efforts.
Angshu Mallick, MD & CEO of Adani Wilmar, stated, “We anticipate the ongoing growth trend in our food and FMCG sectors to persist. Our goal is to achieve a INR 10,000-crore food business within the next three years, bolstered by robust demand for branded staple food items.”
In FY24, the company experienced a remarkable 42% surge in the e-commerce sector. “In major cities, over 50% of grocery purchases are now made through e-commerce and quick commerce platforms. Our brands hold significant market share in the e-commerce realm across various categories, reflecting consumer preferences,” he remarked.
Simultaneously, the expansion of the physical distribution network stands as a key growth pillar. Mallick remarked, “The company has pursued an aggressive strategy for both direct and indirect distribution expansion. Presently, they directly serve approximately 7.2-7.3 lakh outlets, aiming to elevate this number to 8.25 lakh outlets by next year, with a particularly strong emphasis on rural areas.”
The company anticipates a relatively stable outlook for commodity prices in the edible oils sector in the upcoming months. “Regarding edible oils, market conditions are expected to remain relatively steady unless influenced by external factors. Globally, there has been ample production of edible oils, alongside a good crop yield of wheat. Hence, significant fluctuations in wheat prices are unlikely, although normal fluctuations of around 7-8% may occur throughout the year,” he elaborated.
When questioned about volume growth projections for the current fiscal year, Mallick indicated that overall, at a company level, volume growth is expected to range between 10-12 percent.
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