Radico Khaitan, an Indian Made Foreign Liquor (IMFL) company, has announced its strategic collaboration with Bollywood actor Arjun Kapoor as the brand influencer for its diverse range of premium brands, including Rampur Indian Single Malt Whisky, Jaisalmer Indian Craft Gin, Magic Moments Vodka, 8PM Premium Black Whisky, Morpheus Brandy, and more.
The company is gearing up to introduce a series of campaigns and activations in partnership with Kapoor.
In response to this partnership, Amar Sinha, COO of Radico Khaitan, conveyed his enthusiasm, stating, “We are delighted to have Kapoor join the Radico family, following our tradition of teaming up with industry luminaries. Kapoor’s captivating charisma and strong rapport with audiences align perfectly with our brand’s heritage of offering excellence and luxury. This collaboration highlights our steadfast commitment to innovation and enhancing consumer experiences, solidifying our position as pioneers in the industry.”
Kapoor’s partnership with the company will extend over 18 months, during which he will serve as the ambassador for a variety of Radico brands, with a particular emphasis on digital platforms.
Kapoor also expressed his enthusiasm for teaming up with Radico Khaitan, saying, “I’m thrilled to collaborate with Radico Khaitan for their premium range of brands. Radico is renowned for its dedication to delivering excellence and luxurious offerings. This partnership celebrates craftsmanship, innovation, and the esteemed heritage of Indian spirits on an international platform. I am eager to connect with audiences to craft unforgettable experiences that mirror Radico’s innovative ethos and commitment to establishing new standards in the industry.”
Breitling, the renowned Swiss luxury watchmaker, witnessed a remarkable surge of over 40% in revenue from India last year, as disclosed by CEO Georges Kern. Kern also expressed aspirations for Breitling to quickly rise to the top three positions in the luxury watch market within the country.
In pursuit of this objective, the Swiss brand is actively exploring opportunities to increase investment in the Indian market.
“We’ve proven that we can outperform the competition. We already operate three boutiques, and this year we intend to open two or three more to bring our total to six. Our goal is to open about ten boutiques in India, which will be a major infrastructural milestone, according to Kern. “Depending on size, each of our boutiques could run between $400,000 and $1 million.”
In 2023, Swiss watch exports to India experienced a year-on-year growth of 16.5%, signaling an expansion in the market within this category.
Kern, a seasoned professional in the Swiss watch industry who previously led another renowned luxury watch brand, IWC, noted that the Indian watch consumer has evolved. He observed a noticeable trend towards purchasing luxury locally, prompting the brand to enhance its distribution network.
Under Kern’s leadership, Breitling has undergone a remarkable transformation, marked by its assertive entry into markets such as India. Over the past six years, Kern has ascended to a rockstar status within the Swiss luxury watch industry.
The company was valued at $900 million when the Swiss-German business tycoon joined Breitling in 2017 and $4.5 billion when it was sold to Partners Group last year.
In 2017, CVC Capital Partners acquired the watch brand from the Schneider family. By 2022, the Swiss watchmaker had risen to become one of the top 10 Swiss brands by sales, achieving an annual turnover of nearly $1 billion.
Partners Group’s acquisition marked a significant turning point in the brand’s trajectory.
One out of every five rooms being built in the global hospitality sector is from the Hilton portfolio, as stated by Chris Silcock, president of global brands and commercial services at Hilton. He highlighted the chain’s expectation to achieve similar success in the Indian market in the near future.
Silcock expressed that the chain holds an ‘exceptionally’ bullish outlook on the sector, which is reinforced by its results.
Silcock noted, “Last year marked a record-breaking period for us in signings, with more rooms added to our global portfolio in Q4 than in any single year throughout our century-long history. We inaugurated over 130 hotels in the fourth quarter of 2023, resulting in a pipeline exceeding 3,000 hotels and half a million rooms. Consequently, we hold a highly optimistic outlook on a global scale.” Hilton’s objective is to have 75 trading and in-pipeline hotels in India by 2027. Presently, it operates 26 hotels in India, with an additional 20 in the pipeline.
“And when you consider India, this sentiment is even more pronounced. While we anticipate fluctuations on a global scale due to macroeconomic uncertainties typical in mature markets, in India, the momentum appears remarkably robust. Despite prevailing global economic conditions, we anticipate continued acceleration in growth. We perceive vast opportunities in the hospitality sector overall, particularly for Hilton,” he emphasized.
“Over the next few years, we plan to triple our current supply. The current number and the opportunity are entirely different from one another. For the long run, it matters more that the trajectory is heading in the right way,” he stated.
Hilton boasts 7,626 properties worldwide, encompassing 1,197,329 rooms across 126 countries and territories. Silcock disclosed that in Q1 of 2024, the chain greenlit nearly 30,000 new rooms for its pipeline.
“We currently have five brands operational in India. Our future plans involve introducing more of our brands to the Indian market. Specifically, we are exploring the introduction of our focused service and economy brands, such as Spark, in the near future,” he elaborated.
Hilton inked a deal for a Curio Collection hotel in India last year, marking another brand set to enter the market by next year.
Earlier this year, the American hotel chain unveiled a global partnership with Bollywood superstar Deepika Padukone.
“Our collaboration with Deepika is likely unparalleled, with perhaps only Paris Hilton’s partnership bearing some similarities. It’s a global alliance that has yielded significant benefits not only in India but also in other markets worldwide,” explained Silcock. “We seek partners who embody our values, individuals respected for their excellence, and Deepika epitomizes these qualities,” he further elaborated.
Hilton might explore potential partnerships within the cricket sphere in India. Globally, the chain has already established partnerships with McLaren and the Chelsea football club.
We provide lodging to the McLaren crew on their global travels. “They converse with their followers about how our lodgings help them perform better in their day job, which is Formula One racing,” added Silcock. Chelsea Football Club in the United Kingdom is a partner of ours. No doubt about it, cricket is here to stay. What shape does it take? You can absolutely anticipate seeing that in our future in some way, shape, or form, he continued. I couldn’t say at this point.
Royal Challenge packaged drinking water has announced its partnership with one of the nation’s most beloved T20 franchises, the Royal Challengers Bengaluru, as an Official Partner for the ongoing T20 season. Having enjoyed a fruitful collaboration with the reigning champions of the women’s T20 team, Royal Challengers Bengaluru, the brand extends its enduring partnership to the men’s team for the 2024 T20 season. This year, Royal Challenge Packaged Drinking Water will infuse the festive fervor into the cricket season, encouraging every player to embrace bold choices with the hashtag #ChooseBold.
“Cricket, a spectacular sporting event, unites the entire nation with its thrilling action, delighting fans nationwide. We are thrilled to partner with Royal Challengers Bengaluru as an official sponsor. Witnessing the Naya Shers #ChooseBold is exhilarating, as they epitomize the essence of our brand. We extend our best wishes to them for the ongoing season,” expressed Varun Koorichh, Vice President and Portfolio Head of Marketing at Diageo India.
“Embracing challenges and championing boldness has consistently defined the essence of Royal Challengers Bengaluru. We are delighted to collaborate with Royal Challenge Packaged Drinking Water, a brand that mirrors our ethos by consistently opting for boldness in all their pursuits,” stated Rajesh Menon, Vice-President and Head of Royal Challengers Bengaluru.
Lyskraft, the omnichannel fashion startup founded by former Zomato senior executive Mohit Gupta and Myntra founder Mukesh Bansal, has raised $26 million in seed funding, positioning it as one of the largest early-stage rounds for an Indian startup amid the ongoing funding crunch.
The funding round was led by Peak XV Partners, formerly known as Sequoia Capital India, Gupta stated. He emphasized that the seed capital would support their efforts to develop an omnichannel marketplace for premium brands. Their initial focus will be on women’s fashion, with plans to later expand into other lifestyle categories.
This significant seed investment in Lyskraft highlights the ongoing interest among investors in supporting ventures founded by returning entrepreneurs and seasoned executives.
Other investors in this round included global tech investor Prosus, Belgian investment fund Sofina, and partners of DST Global. Deep Kalra and Rajesh Magow from MakeMyTrip, along with Zomato founder Deepinder Goyal, also took part in the financing, as per Gupta.
Gupta will assume the position of chief executive at Lyskraft, while Bansal will serve as a strategic advisor and shareholder. However, he won’t be involved in the day-to-day operations of the company.
According to sources, Bansal, who co-founded the fashion e-commerce platform Myntra and the fitness startup Cultfit, is now focused on developing a deep tech artificial intelligence startup on his own.
Following his stint at Tata, Bansal had stepped down as the CEO of Cultfit last year.
A year ago, when Gupta and Bansal joined forces, the aim was for Meraki Labs, Bansal’s startup incubator, to explore raising capital at the holding company level while also securing funds for various startups under its wing. Bansal has supported ventures such as the stock-broking firm Groww and the spacetech startup Skyroot Aerospace.
Regarding Lyskraft, Gupta mentioned that the premiumization trend, noticeable across various consumer categories, guided him and Bansal towards targeting the high-end segment of the market for their venture.
“The premium fashion segment in India requires a distinct approach,” he stated. “He anticipates that within the next 5-10 years, it will grow significantly to warrant being treated as a standalone vertical. Particularly, women’s fashion poses unique challenges, and the solution, he believes, lies not solely in online or offline channels but in an omnichannel approach, which is our objective.”
Gupta exited Zomato in November 2022. He was promoted to the position of co-founder and played a key role in developing and guiding the company’s food delivery business. Prior to this, he spent a decade at MakeMyTrip, serving as its Chief Operating Officer until his departure in 2018. He also worked at the renowned packaged foods and beverages company, PepsiCo, in India.
As per Gupta, Lyskraft has partnered with 15 brands in the premium women’s apparel sector and does not intend to engage in manufacturing itself.
The company will vie with competitors such as Nykaa Fashion, which operates both online and offline stores, as well as purely digital platforms like Myntra (owned by Flipkart), Ajio by Reliance Retail, and Tata Cliq.
Gupta explained that Lyskraft chose an omnichannel approach instead of starting with an online-first strategy because their focus was on solving the problem rather than being confined to a specific channel.
“When it comes to premium occasion wear, whether it’s Indian or western, the buyer doesn’t care if it’s available online or offline.We are looking at this as a customer and category problem, not a channel one. The greatest solution we found for this was omni-channel, which is why we’re going that approach from the start,” he said.
“The offline piece has to be deeply curated as the brick-and-mortar ecosystem is able to accommodate a certain amount of inventory,” Gupta stated. We don’t think opening up an online marketplace is the greatest solution, even for online platforms, but we’re still very early in the process and will adjust as we learn more. However, curation is our underlying premise.
As per an investor presentation by Nykaa during its October-December earnings, the total fashion market in India is approximated to be $147 billion, with online fashion accounting for $49 billion of this figure.
Gupta mentioned that Lyskraft’s present addressable market stands at a few billion dollars, with projections indicating it could surge to $12-15 billion within the next six to seven years.
Firstcry, a kid-focused omnichannel retailer, is reportedly planning to withdraw its draft red herring prospectus (DRHP) filed with the Securities and Exchange Board of India (SEBI) and submit new IPO papers later next week.
According to sources cited by Moneycontrol, the startup intends to resubmit the DRHP with revised financial figures and key performance indicators reflecting the quarter that ended in December 2023.
Earlier, as reported by Reuters, Brainbees Solutions Ltd, the parent company of FirstCry, is set to withdraw its DRHP for a $500 million IPO. This decision comes after the market regulator raised concerns regarding the key metrics disclosed by FirstCry in the draft documents.
According to Moneycontrol, FirstCry had disclosed only 5-6 Key Performance Indicators (KPIs), falling short of the 25 KPIs requested by the markets regulator.
In the realm of ecommerce platforms, Key Performance Indicators (KPIs) typically encompass metrics such as the number of orders, average order value, gross order value, annual transacting customers, and various others.
According to the report, SEBI and FirstCry have been in discussions for a month to reach an agreement regarding the KPIs. Sources suggest that the resubmission of the DRHP will postpone FirstCry’s public listing by a few months, with expectations now pointing towards a debut on the bourses in July-August for the ecommerce unicorn.
This development comes at a time when SEBI has intensified its scrutiny of new-age tech companies seeking to list on the bourses.
This development comes at a time when SEBI has intensified its scrutiny of new-age tech companies seeking to list on the bourses. In 2022, the regulator halted the IPO of Go Digit General Insurance. Subsequently, the insurtech startup resubmitted its DRHP and obtained SEBI’s approval for its IPO just last month.
The funds raised from the IPO will be allocated towards establishing new retail outlets and warehouses, as well as facilitating international expansion efforts.
According to the DRHP, the largest shareholder in the startup is the Japanese investment giant SoftBank, followed by Mahindra & Mahindra and Premji Invest. The draft documents further disclosed that the Pune-based company recorded a consolidated net loss of INR 110.4 Cr in Q1 FY24, contrasting with a net loss of INR 486 Cr for the entire FY23.
Meanwhile, during Q1 FY24, the startup’s operating revenue reached INR 1,406.9 Cr, compared to INR 5,632.5 Cr for the entire FY23.
As per a Moneycontrol report, the CCPA, established under the Consumer Protection Act of 2019, has requested the mentioned companies to disclose median data regarding delivery times in prominent cities such as Bengaluru, Mumbai, Delhi, Kolkata, and Chennai.
Queries directed towards Blinkit, Swiggy Instamart, BBNow, and Zepto regarding this development remained unanswered at the time of this story’s publication.
The four startups mentioned above heavily promote the prospect of “10-minute deliveries” in their brand messaging, albeit subject to terms and conditions.
In their March 2023 publication, “Swiggy Diaries,” Swiggy Instamart claimed that the app could serve food in “less than 20 minutes on a busy day and no more than 10 on a normal one.”
Currently operating in more than 25 cities, Instamart is strategically focusing on its forthcoming initial public offering (IPO), prompting Swiggy to refine and bolster its quick commerce vertical. Notably, Swiggy recently merged Swiggy Mall, offering a diverse selection of non-grocery items such as footwear and electronics, with Instamart.
Meanwhile, according to Blinkit’s website, delivery times can be as short as 10 minutes “during all times the store in your area is operational”. It’s worth noting that Zomato‘s quick commerce vertical has significantly impacted the fortunes of the listed company. Blinkit reported a revenue of INR 644 Cr in Q3 FY24, compared to INR 301 Cr in the year-ago quarter and INR 505 Cr in Q2 FY24.
Meanwhile, Tata-backed BigBasket entered the quick commerce scene in April 2022. The company claims to serve over 10 million customers with grocery deliveries within 10 minutes, although its services are presently limited to select cities.
For Zepto, the commitment to 10-minute delivery comes with certain conditions. Recently, the company launched Zepto Pass, a membership program that provides unlimited deliveries for a monthly fee. Additionally, it introduced a platform fee of INR 2 per order for its users.
The Moneycontrol report also quoted a senior government official who stated that the companies are not currently required to modify their messaging. However, if their median delivery times diverge significantly from their claims, they will be requested to adjust their advertisements accordingly.
A CCPA official told the publication, “We’re fine if the median delivery timeline even stretches up to 14 minutes from 10 minutes, but any delay exceeding that buffer will mean firms have to change their advertising message.”
These developments come at a time when the competition in the quick commerce space is intensifying. With an eye on a slice of the burgeoning market, ecommerce major Flipkart has also been gearing up to enter the space. Recently, reports surfaced indicating Flipkart’s interest in acquiring a major stake in Zepto. However, the deal failed to materialize.
However, the company has been strengthening its leadership for its quick commerce vertical. Recently, it appointed senior VP Hemant Badri to lead its expansion into the fast-growing space.
Cadbury is introducing three fresh additions to its Dairy Milk Fruitier & Nuttier collection, expanding its lineup of non-HFSS bars and injecting innovation into the realm of healthier snacking options.
These bars feature a delightful fusion of fruits, crispy elements, rich cocoa, and crunchy nuts, all generously coated with Cadbury Dairy Milk chocolate.
Available this month across the UK in a multipack 4x30g format, the new bars are launching in two flavors: Classic and Orange Boost. The latter boasts a luscious layer of Cadbury Dairy Milk Chocolate Orange. Come the end of May, the orange variant will also hit shelves in a single 40g bar format.
Crafted with health-conscious consumers in mind, these bars boast a composition of over 70% fruit and nuts, providing a mere 127 kcals per 30g multipack bar. Notably low in sugar and saturated fat, they are also rich in fiber.
Abi Eayrs, the brand manager for Cadbury at Mondelēz International, expressed, “We take immense pride in introducing Cadbury Dairy Milk’s Fruitier & Nuttier non-HFSS snack bar range. As consumers increasingly seek health-conscious options without compromising taste, this innovative lineup enables retailers to meet this demand and optimize their non-HFSS sales.”
The launch of these bars marks a continuation of Cadbury’s expansion into healthier snacking options. Building upon the success of the Cadbury Dairy Milk Fruitier & Nuttier Trail Mix platform introduced last year as Cadbury’s first non-HFSS portfolio, this latest addition aims to cater to consumers seeking nutritious yet indulgent treats. Earlier this month, Cadbury Brunch also entered the market with its own range of non-HFSS bars in the UK, further demonstrating the company’s commitment to tapping into the growing demand for healthier snacking choices.
ITC, a diversified conglomerate, plans to expand its presence in the hospitality sector by venturing into more overseas markets, particularly in neighbouring countries and the Middle East. Sanjiv Puri, the Chairman and Managing Director of the company, announced this plan following the opening of its first international property. ITC Hotels, a subsidiary of the company, has already unveiled 22 new properties in the past two years and aims to introduce an additional 70 hotels across India within the next five years as part of its ambitious expansion strategy.
In addition to its focus on the hotels sector, the company aims to explore avenues for extending the reach of FMCG and other verticals into fresh international markets.
“We’re receptive to pursuing emerging opportunities. I believe our robust track record in hospitality equips us to venture beyond India’s borders. Presently, our focus lies squarely on nearby markets, whether in hospitality or FMCG,” stated Puri during a press briefing following the inauguration of the 352-room deluxe establishment, ITC Ratnadipa.
He mentioned that as the company delves into and comprehends a locale for a specific business, it might also consider it as a potential market for other verticals.
Referring to Nepal as an example, Puri stated, “We initially ventured into other sectors and are now eyeing the hospitality sector there. Similarly, here in Sri Lanka, we’ve commenced our journey with hospitality… As we delve deeper into understanding the region, we’ll explore opportunities across some of our other sectors too.”
Regarding the expansion of the hospitality business abroad, although the company primarily targets nearby markets, he mentioned, “We’re receptive to exploring further if compelling opportunities arise. We’re definitely keen on seizing such prospects.”
When asked if ITC is considering the Middle East as a market for the hospitality industry, he responded that it is a thriving economy with amazing growth prospects and that “we will certainly explore that if opportunity comes our way.”
Puri additionally mentioned that the company aims to broaden its presence across additional destinations in Sri Lanka in the future.
“This marks the beginning, and indeed, we aspire to expand and bolster the economy while fostering the development of tourism in Sri Lanka,” he expressed.
When questioned about ITC’s broader expansion strategy within the hospitality sector, he mentioned, “We have a robust pipeline comprising 70 hotels over the next five years.”
All 70 of these hotels are designated for the Indian domestic market, with the majority falling within the upscale segments.
However, he clarified, “In terms of global ventures, we are only starting out. As a result, we have not yet reached the point where we can specify a number.”
Regarding the investments earmarked for the overall expansion, he refrained from disclosing a precise figure but indicated, “Between renovations and new properties, we anticipate spending somewhere in the range of INR 700 crore to INR 1,000 crore annually.”
When questioned about the progress of the demerger of ITC Hotels and its scheduled public listing, Puri affirmed that it is proceeding according to the specified timelines and is anticipated “before the second half of this year or by year-end.”
At its latest establishment in this location, the company had invested approximately USD 500 million. The inauguration took place on Thursday with the presence of Sri Lankan President Ranil Wickremesinghe.
The ITC Ratnadipa, also known as the ‘Island of Gems,’ boasts 352 guest rooms, suites, and serviced apartments, all featuring private balconies offering waterfront vistas.
Earlier in the day, addressing the inauguration of the new hotel, Puri remarked, “It’s only fitting for us to prioritize markets in nearby regions, buoyed by our Prime Minister Narendra Modi’s vision of ‘neighbourhood first,’ where Sri Lanka holds a particularly significant position. ITC is steadfast in expanding our footprint and enriching hospitality in the region.”
American media personality Kylie Jenner‘s cosmetic brand, Kylie Cosmetics, has made its debut in India through a collaboration with the beauty specialty company House of Beauty.
Jenner expressed her enthusiasm for the launch of Kylie Cosmetics in India, stating, “I’m thrilled to introduce Kylie Cosmetics to India. My aim with Kylie Cosmetics has always been to offer my fans the makeup products I personally adore, and I’m eager to share my collection with all my supporters in India.”
The debut collection features matte and velvet lip kits, lip liner, foundation, mascara, concealer, and lip balm.
Kylie Cosmetics will be exclusively accessible at 25 Sephora outlets across the nation, in addition to being available online on the Sephora website.
In 2015, Jenner ventured into the beauty industry by introducing Kylie Lip Kits, featuring a trio of liquid lipsticks paired with matching lip liners.
In 2020, Coty, a global beauty giant, acquired a 51% stake in Kylie’s beauty brands, with a mutual goal of collaboratively expanding and enhancing the beauty enterprise.
Backed by Coty, the brand extended its reach to more than 50 countries and introduced new product lines catering to eye and face complexion needs.
Quest Retail’s subsidiary, House of Beauty, manages various exclusive international brands including Anastasia Beverly Hills, Kylie Cosmetics, Max Factor, EcoTools, Juice Beauty, and Neal’s Yard Remedies.
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