IHG Hotels & Resorts set to double presence in India, aiming for 100 operating hotels in five years

April 24, 2024

IHG Hotels & Resorts plans to double its presence in India in the next five years, aiming to have 100 operating hotels by then.

In 2023, the company reported robust signing performance, sealing 13 deals across its luxury, premium, and essentials brands. It notably expanded its presence in key markets like Gurgaon, Jim Corbett, Mumbai, Amritsar, and Goa.

The chain reported that nearly 70% of the signings occurred within the midscale and upper midscale segments, which remain pivotal growth drivers for the company in India, with premium and luxury segments following suit.

IHG’s development pipeline encompasses a variety of brands, including InterContinental Hotels and Resorts, Crowne Plaza, voco, Holiday Inn, Holiday Inn Express, and Staybridge Suites. The chain expressed its intention to not only focus on established destinations but also to target rapidly growing secondary markets like Amritsar, Lucknow, Zirakpur, Kasauli, and Katra, while also revitalizing its presence in popular tourist destinations.

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Over the past year, IHG has also announced the debut of its premium conversion brand, voco, in India with a signing in Gurgaon. Subsequently, the brand has seen four additional signings in 2023 across key leisure and business destinations such as Jim Corbett, Mumbai, Amritsar, and Goa, IHG reported.

Haitham Mattar, Managing Director for India, Middle East, and Africa at IHG Hotels & Resorts, emphasized the chain’s enduring history in India and reiterated its dedication to expanding its presence throughout the country.

“India’s hospitality industry is experiencing a dynamic transition driven by a number of factors including higher spending power, a growing middle class that enjoys travelling, and the opening of new tourist destinations,” he said. In addition to allowing us to satisfy this growing demand, our strategic development plan places IHG in a key position to influence the direction of hospitality in India.”

He added, “Through harnessing our diverse brand portfolio and unwavering dedication to guest satisfaction, we aim to provide travelers with an expanded array of lodging choices, thereby fostering the growth and liveliness of the Indian tourism scene.”

Sudeep Jain, Managing Director for South-West Asia at the chain, expressed pride in IHG’s robust signing performance last year and affirmed the company’s trajectory towards another prosperous year.

He remarked, “The ongoing trust of our owners in IHG’s varied portfolio, spanning from the cherished Holiday Inn brand family to our luxurious and lifestyle selections, places us ideally to meet the changing preferences of both local and global travelers.”

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“We harbor ambitious expansion strategies aimed at bolstering our portfolio across all brand segments in India. Our Essentials portfolio has proven highly successful in this market, primarily fueled by domestic tourism. Additionally, we hold a positive outlook for our growth in the luxury and lifestyle segment. We firmly believe that laying a robust foundation and platform is pivotal for advancing our luxury brands further. This approach enables us to meticulously choose the right partners in the right locales, ensuring the delivery of extraordinary experiences that resonate with the discerning expectations of luxury travelers,” he elaborated.

In 2023, IHG reported that hotel occupancy rates surpassed pre-pandemic levels by a considerable margin. Additionally, revenue per available room experienced a notable increase of over 30% compared to figures from both 2019 and 2022.

IHG operates in India through six of its key brands, spanning various market segments: Six Senses and InterContinental Hotels and Resorts cater to the luxury and lifestyle segment, Crowne Plaza Hotels & Resorts and voco serve the premium segment, while Holiday Inn and Holiday Inn Express target the midscale and upper midscale segments.

At present, the group boasts 51 hotels in South West Asia, totaling over 8,500 rooms, with India hosting 46 of these hotels, offering over 7,800 rooms.

Ethnic wear brand Koskii continues expansion in Hyderabad with fourth store opening at Nexus Mall

SnackTeam

April 24, 2024

Koskii, the ethnic wear brand, has just unveiled its fourth store in Hyderabad, as announced by a company representative on social media. Situated on the second floor of Nexus Mall, Kukatpally, this new establishment marks the 19th addition to Koskii’s nationwide network of stores.

“Adaab, Hyderabad! Within a mere 12 months, we’ve introduced four stunning additions to the Koskii family, each serving as a tribute to our affection for Hyderabad and its fashion-forward community,” remarked Umar Akhter, CEO of Koskii, in a LinkedIn update.

Additional Koskii outlets within the city can be found in Jubilee Hills, Banjara Hills, and Sarath City Mall.

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“As our adventure continues, our attachment with Hyderabad grows stronger. “Here’s to countless more accomplishments, endless fashion narratives, & numerous cherished moments with Koskii in Nizams,” Akhter wrote.

Established in 2016, Koskii provides a diverse selection of products tailored for women, featuring lehengas, sarees, and salwars. Its offerings are designed to cater specifically to women aged between 18 and 35.

Koskii’s online retail platform has successfully fulfilled orders across more than 10,000 pin codes, and its dedicated app has garnered over 100,000 downloads.

Presently, the fashion brand has established its presence in cities like Chennai, Bengaluru, Hyderabad, Coimbatore, New Delhi, and Kochi.

Continue Exploring: Ethnic menswear brand Tasva makes debut in Kolkata

Amazon launches low-cost grocery delivery subscription for Prime members and EBT users

SnackTeam

April 24, 2024

Amazon, the e-commerce giant, has launched a new low-cost grocery delivery subscription service targeted at Prime members and customers with a registered Electronic Benefit Transfer (EBT).

The service, accessible in over 3,500 cities and towns throughout the US, carries a monthly fee of $9.99 for Prime members.

It offers unlimited grocery delivery for orders over $35 from Amazon Fresh, Whole Foods Market, and a variety of local and specialty retailers on Amazon.com.

EBT cardholders can access the same benefits without a Prime membership for $4.99 per month, which also includes a complimentary 30-day trial.

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Prime members who subscribe to this new service will also retain exclusive savings at Amazon Fresh and Whole Foods Market outlets, alongside other Prime perks.

The subscription encompasses convenient delivery and pickup time slots, complimentary one-hour delivery windows where accessible, unrestricted 30-minute pickup for orders of any magnitude, and priority access to Recurring Reservations for weekly grocery orders.

The grocery delivery subscription additionally encompasses local and specialty retailers including Cardenas Markets, Save Mart, Bartell Drugs, Rite Aid, Pet Food Express, Mission Wine & Spirits, and other participating stores.

Tony Hoggett, Senior Vice President of Amazon’s global grocery stores, commented, “This new grocery subscription benefit offers enhanced value and savings on delivery fees for customers who frequently order groceries from Amazon New, Whole Foods Market, and the diverse array of local grocery and specialty retailers on Amazon.com.”

“Our goal is to establish an exceptional online and in-store shopping experience where Amazon is the go-to option for variety, affordability, and ease of use. Our objective is to continuously save our wide range of clients—all with different demands and time constraints—time and money when they shop for food.”

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Amazon tested this grocery subscription in Columbus, Ohio; Denver, Colorado; and Sacramento, California, USA, in late 2023.

A survey conducted among subscribers showed that over 85% of respondents expressed extremely or very high satisfaction with the unlimited free delivery benefit.

Recently, Amazon announced its plans to launch a drone delivery service in Arizona, USA, later this year.

Furniture brand Ouchcart aims for INR 30 Crore revenue in FY25, eyeing 200% growth from previous fiscal

SnackTeam

April 24, 2024

Ouchcart, a UP-based home decor and furnishing brand, has set its sights on achieving INR 30 crore in revenue for the financial year (FY) 2025. This target represents a substantial increase of around 200% compared to the previous fiscal, during which it recorded approximately INR 10 crore in revenue.

“Our mission is to revolutionize the furniture industry by delivering exceptional products that not only elevate the aesthetics of living spaces but also ensure unparalleled comfort and enduring durability,” stated Atif Shamsi, the founder and CEO of Ouchcart. However, he did not elaborate on the strategies the company plans to employ to attain its ambitious growth target.

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Established in 2018, the brand achieved a revenue of INR 3 crore in FY 23.

Established by Atif Shamsi as a bootstrap venture from Saharanpur, Uttar Pradesh, Ouchcart now provides a range of home furniture, decor, and furnishings via its website and various marketplaces.

Continue Exploring: Ikea unveils first-ever B2B furniture collection with launch of Mittzon

PhonePe’s Pincode streamlines e-commerce strategy, exits non-food categories on ONDC network

SnackTeam

April 24, 2024

Walmart-backed PhonePe is revamping its ecommerce strategy on the Open Network for Digital Commerce (ONDC). It is discontinuing several categories such as fashion, grocery, and electronics, except for food delivery on the network, according to individuals briefed on the matter. The company has already communicated with the government-backed ONDC network, and the changes are now in effect as of Tuesday.

On the PhonePe app, only unreserved ticket booking will be available through ONDC.

“PhonePe Payment Technology Services Private Limited (Pincode) has asked ONDC to limit its subscription solely to the Food and Unreserved ticket booking domains on the ONDC registry. They intend to explore other domains after adjusting their internal strategy,” stated an internal note from ONDC. “Consequently, starting from April 23, 2024, Pincode will no longer be subscribed to other domains except for Food and Unreserved ticket booking.”

As per people cited above, PhonePe has chosen to narrow down its focus on segments operating within ONDC and is realigning its priorities accordingly. Multiple sources have indicated that the end consumer experience still does not match up to other consumer delivery apps, which has also influenced PhonePe’s decision-making process.

Last year, PhonePe introduced its ecommerce venture, Pincode, on ONDC, providing a range of categories such as grocery, food delivery, medicines, fashion, and electronics on the network. After initially launching in Bengaluru, the services were expanded to 10 cities.

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A representative from PhonePe’s Pincode declined to provide a comment.

According to reports, PhonePe has invested INR 90 crore in Pincode over the past year, divided into two installments – one in July 2023 and the second earlier this month.

According to a senior government official, ONDC has been experiencing challenges with grocery deliveries due to the lack of standardization among general trade and smaller modern trade kirana stores.

“The likes of Zomato and Swiggy in food delivery have succeeded in standardizing and training restaurants extensively to manage online ordering, packaging, and inventory effectively, ensuring an optimal customer experience,” the official stated. “However, similar efforts haven’t been made with grocery stores, resulting in a lack of improvement in the quality of experience.”

Continue Exploring: PhonePe expands e-commerce portfolio with Pincode, a hyperlocal app on Open Network

“In general, complaints revolve around incorrect items being shipped or inadequate packaging resulting in damaged items before delivery,” the official added. “The ecosystem must collaborate to address these issues before ONDC can scale up grocery deliveries significantly.”

By the end of March, nearly 600,000 food orders had been fulfilled through ONDC on a cumulative basis, with almost 200,000 grocery orders being processed.

Continue Exploring: ONDC surpasses 7.1 Million orders milestone in February since inception last year

Reid & Taylor expands Mumbai footprint: Second store now open in Ghatkopar

SnackTeam

April 24, 2024

Reid & Taylor Apparel, a Mumbai-based textile manufacturer, has opened its 2nd store at Vallabagh Lane, Ghatkopar, Mumbai, as announced by a top company executive on social media.

In a LinkedIn post, Subrata Siddhanta, CEO of Apparel & Retail at Reid & Taylor, expressed, “Today marks the opening of our second store at Vallabagh Lane, Ghatkopar, Mumbai. Mr. JD Barman, Director of the Textiles Committee at the Ministry of Textiles, honored us with his presence. The journey of Reid & Taylor Apparel persists… Thank you to the entire team.”

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The CEO had previously announced on LinkedIn that the brand plans to open 7 stores in Mumbai within a month. According to reports, the brand previously opened its store at Borivali in Mumbai.

Reid & Taylor made its debut in India in 1988 with a cutting-edge mill situated in Mysore, Karnataka. Specializing in premium suiting and shirting, the brand provides a spectrum of options, catering to both formal and casual wear for men.

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Pet nutrition brand Royal Canin boosts presence in India with new packaging center in Bhiwandi

SnackTeam

April 24, 2024

Mars-owned pet nutrition brand Royal Canin has opened its new packaging center in Bhiwandi, Maharashtra.

This development is the culmination of the Memorandum of Understanding (MoU) signed between Royal Canin and the Government of Maharashtra in April 2023.

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Cecile Coutens, Global President of Royal Canin, stated, “India boasts one of the most rapidly expanding petcare markets, with a Compound Annual Growth Rate (CAGR) of approximately 15%. Pet owners today are showing growing concern for their pets’ health and happiness, aspiring to offer them the finest nutrition and care available.”

Operating across over 120 countries, the brand manages 16 factories, 2 pet centers, 1 R&D center, and 7 laboratories. The new packaging center in India marks the brand’s 17th facility within its manufacturing network, enhancing its supply chain within the country.

Continue Exploring: Indian pet food brand Drools secures $60 Million investment from L Catterton, valuing the company at $600 Million

BN Group enters wellness and fitness oil category with Nutrica launch, Targets INR 500 Crore revenue in three years

SnackTeam

April 24, 2024

Edible oil manufacturing company BN Group has ventured into the wellness and fitness oil category with the launch of Nutrica, as announced by Anubhav Agarwal, CEO & MD of BN Group.

The company will introduce the brand across three categories: Nutrica Pro Immunity Oil, Nutrica Pro Energy Oil, and Nutrica Pro Fitness Oil enriched with Vitamin C.

“Given the shifting culinary preferences of a growing health-conscious consumer base, we’ve invested INR 95 crore in Nutrica. Our aim is to capture 10 percent market share, resulting in a turnover of INR 500 crore within three years,” he explained.

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“By the end of this fiscal year, we’re aiming for INR 120 crore in revenue from Nutrica, which will represent approximately 8-10 percent of our total business,” he added.

The company has invested in the technology for this brand, upgrading its plant and establishing a new production line at its existing Gandhidam facility.

Initially, the brand has formed a network of 600 distributors to retail at 50,000 modern and general trade outlets in markets like Delhi, Chandigarh, Mumbai, and Pune, alongside quick commerce and e-commerce platforms.

“We also have plans to enter Ahmedabad and South India in the near future,” he affirmed.

“We’re positioning the brand as an affordable option within its market, with pricing comparable to competitors. Distribution will be a key driver of our growth. In the first year, we plan to enter 8-10 cities, with plans to expand the network in the future,” he elaborated.

Additional edible oil brands under the BN Group umbrella include Simply Fresh, positioned as a commodity brand, and Healthy Value, specializing in mustard oil.

BN Group concluded the previous fiscal year with revenue of INR 4,500 crore and aims to achieve INR 8,000 crore in the current fiscal year.

Continue Exploring: Adani Wilmar sees double-digit growth in edible oil and food divisions during Q4 FY24

Quaker Oats adds new peanut butter flavor to protein lineup, targets growing demand

SnackTeam

April 24, 2024

Quaker Oats, a brand under the PepsiCo umbrella, has broadened its Protein lineup by introducing a new peanut butter flavor.

Quaker stated that the launch will enable retailers to meet the increasing consumer demand for protein, a vital nutrient essential for everyday wellness.

Furthermore, Quaker Protein Peanut Butter will debut with a new taste-driven visual identity, a design that will also be rolled out across the broader Protein range.

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Divesh Parmar, General Manager of Quaker UK at PepsiCo, remarked: “There’s a significant shift in how protein porridge is perceived. It’s now reaching a broader audience beyond just athletes aiming to enhance performance. Protein porridge is becoming a staple for everyday consumers seeking to boost their overall health and wellness. As the leading brand in hot cereals, we’re well-positioned to inject more enthusiasm into the category and assist shoppers in maintaining active lifestyles through our new product development.”

He added, “Our new packaging design aims to attract Gen-Z and Millennial consumers by highlighting the taste qualities of our range, ensuring visibility on shelves. Alongside the taste-focused design, our new packaging emphasizes the health attributes consumers seek, such as ‘high in protein,’ ‘100% wholegrain,’ and ‘natural energy release.’ We believe the revitalization of our Quaker Protein range will contribute to category growth and strongly appeal to the targeted Gen-Z and Millennial demographic, aligning with their lifestyle objectives.”

Quaker’s Protein Peanut Butter sachets will first hit the shelves at Asda stores, priced at £3.50 per pack. Subsequently, they will be introduced to additional grocery and convenience stores.

Continue Exploring: Quaker enlists celebrity duo Kiara Advani and Sidharth Malhotra as brand ambassadors

Coca-Cola inks $1.1 Billion deal with Microsoft for cloud computing and AI integration

SnackTeam

April 24, 2024

The Coca-Cola Company has inked a $1.1 billion agreement with Microsoft aimed at enhancing its cloud computing infrastructure and integrating the tech giant’s cutting-edge generative AI capabilities on a global level.

In their five-year “strategic partnership,” Coca-Cola and Microsoft will collaboratively explore new technologies such as Azure OpenAI Service to create “innovative generative AI applications across multiple business sectors,” as stated.

Coca-Cola has transitioned all its applications to Microsoft Azure, with the majority of its major independent bottling partners doing the same.

The beverage company has been utilizing generative AI for almost a year and has already integrated Azure OpenAI Service across various areas, spanning from marketing to manufacturing, and extending into the supply chain and beyond.

Continue Exploring: Coca-Cola launches new lightweight PET bottles across U.S. and Canada

“Through our long-term partnership, we’ve achieved notable strides in propelling systemwide AI transformation throughout The Coca-Cola Company and its global network of independent bottlers,” remarked Judson Althoff, Chief Commercial Officer at Microsoft.

“We’re delighted to assist Coca-Cola as it keeps embracing the era of AI & looks to solutions like Azure OpenAI Service & Copilot to drive innovation across all facets of its business.”

According to a statement released on April 23, the owner of Sprite is exploring the utilization of generative AI-driven digital assistants through Azure OpenAI Service. Their aim is to enhance customer experiences and optimize operational efficiency for employees.

“This new agreement further underscores Coca-Cola’s dedication to continuous digital transformation, building upon the successful partnership strategy with Microsoft,” stated John Murphy, CFO of The Coca-Cola Company.

In 2020, the company entered a five-year agreement valued at $250 million to utilize Microsoft’s cloud infrastructure and business software solutions.

Josep Bori, research director at GlobalData, commented, “This represents a classic move in the technology realm, where a major player leverages its dominant position in one product or service to support a nascent offering. Microsoft has previously employed this strategy with products like its Internet browser, media player, and even its cloud computing services.”

“Microsoft has made a significant investment in OpenAI technology and is currently exploring avenues to monetize it. Leveraging key customers like Coca-Cola to explore potential applications from both a technological and marketing standpoint seems like the right approach. For example, if Coca-Cola decides to adopt CoPilot for Microsoft 365 internally after successful testing, it would serve as a strong reference for future sales opportunities.”

Meanwhile, Coca-Cola HBC, a prominent bottler operating across 29 countries in Europe and Africa in partnership with The Coca-Cola Company, has recently been focused on optimizing its operations and enhancing sustainability by investing in technology.

Continue Exploring: Coca-Cola HBC Northern Ireland to acquire BDS Vending Solutions

In a recent interview, Mourad Ajarti, the Chief Digital and Technology Officer, elaborated on the company’s collaboration with Microsoft and its utilization of digital twins technology.

He mentioned, “We’re currently implementing a plan to expand into 50 or more product lines by 2027, applying the same digital twin and AI technology across each line.”

“We’re addressing energy efficiency, water efficiency, and changeover efficiency, aiming not only to boost productivity operationally but also to enhance sustainability by reducing energy and water consumption.”

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