CCPA asks quick commerce giants for proof of ’10-minute’ delivery claims

April 26, 2024

The Central Consumer Protection Authority (CCPA) has reportedly directed quick commerce players Blinkit, Swiggy Instamart, Zepto, and Big Basket (BB Now) to provide evidence supporting their assertions of ’10 minute’ delivery.

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.

Continue Exploring: Quick commerce platforms Blinkit and Zepto expand into e-commerce, targeting fashion, beauty, electronics, and more

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.

Continue Exploring: Flipkart challenges Zepto and Blinkit with quick commerce expansion

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.

Continue Exploring: Flipkart taps supply chain head Hemant Badri to spearhead quick commerce expansion

Cadbury expands healthier snacking lineup with non-HFSS Dairy Milk Fruitier & Nuttier bars

SnackTeam

April 25, 2024

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.

Continue Exploring: Global cocoa supply shortage pushes Cadbury and major chocolate brands to consider price hikes

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.

Continue Exploring: Amcor and Mondelēz International collaborate to introduce recycled plastic packaging for Cadbury Chocolate

ITC to expand hospitality footprint overseas, eyes neighbouring markets and Middle East

SnackTeam

April 25, 2024

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.

Continue Exploring: ITC Hotels charts course for expansion, targets 70 new properties within next five years

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.”

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

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.”

Kylie Jenner’s Kylie Cosmetics launches in India in collaboration with House of Beauty

SnackTeam

April 25, 2024

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.

Continue Exploring: Kylie Jenner enters beverage alcohol sector with ‘Sprinter’ RTD brand launch

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.

Continue Exploring: Beauty brand Florence by Mills makes Indian debut with exclusive launch on Nykaa

Nestlé brings Nespresso to Indian market, customers to enjoy full selection by late 2024

SnackTeam

April 25, 2024

Responding to the rising consumer demand for high-quality portioned coffees, Nestlé has announced the launch of Nespresso in India. With the goal of expanding the premium coffee category in the country, Nestlé will offer Nespresso coffees through e-commerce channels. It will commence by opening the first Nespresso boutique in Delhi and subsequently expand to other key cities in India. Nespresso coffees and systems, in both original and professional formats, will be available by the end of 2024 to cater to in-home and out-of-home consumers alike.

Guillaume Le Cunff, the CEO of Nespresso, expressed his enthusiasm about the introduction of Nespresso to coffee enthusiasts in India. He remarked, “I am delighted that we are bringing Nespresso to coffee lovers in India. For nearly four decades, Nespresso has been dedicated to enhancing the coffee experience with its distinctive taste and integrating sustainability into every aspect of the business. Having been sourcing green coffee from India since 2011, I am thrilled to witness the brand’s ongoing growth in this promising coffee market.”

Continue Exploring: Nestle India’s Q4 net profit jumps 27% to INR 934 Crore amid strong sales growth

Nespresso, as a certified B Corp company and the trailblazer of the portioned coffee category, collaborates directly with approximately 2,000 coffee farmers in India through its Nespresso AAA Sustainable Quality Program.

Suresh Narayanan, Chairman and Managing Director of Nestlé India, expressed his satisfaction, stating, “I am delighted that Nespresso will soon be accessible, providing consumers, coffee enthusiasts, and connoisseurs in India with the opportunity to explore new experiences and discover exceptional coffees. In recent years, there has been a notable increase in coffee consumption in India, particularly in-home. With its rapidly expanding young demographic, exposed to global trends and embracing novel experiences, India stands as one of Nestlé’s fastest-growing coffee markets.”

Nespresso coffees are crafted in three cutting-edge factories located in Switzerland, employing over 1,300 dedicated staff members. With a presence in more than 90 markets worldwide, the brand boasts a network of over 800 boutiques spread across 500 cities.

Continue Exploring: Nestlé India collaborates with SOCIAL and BOSS Burger to debut MAGGI’s plant-based menu across major cities

Nestle India’s Q4 net profit jumps 27% to INR 934 Crore amid strong sales growth

SnackTeam

April 25, 2024

Nestle India, a major FMCG company, reported a 27% increase in net profit to INR 934 crore for the fourth quarter ended March 31, 2024. This surge is attributed to strong growth across its product portfolio. In comparison, the company had recorded a net profit of INR 737 crore in the corresponding period of the fiscal year 2022-23.

During the period under review, revenue from operations increased to INR 5,267 crore, compared to INR 4,830 crore during the same quarter of the fiscal year 2022–2023.

Nestle India Chairman and Managing Director Suresh Narayanan remarked, “Despite the challenges presented by escalating food inflation and fluctuating commodity prices, we have achieved double-digit growth.”

He added that the company has experienced robust growth momentum across its product portfolio, driven by a combination of pricing and product mix.

Continue Exploring: Nestle India approves 0.15% annual increase in royalty payments to parent company for next five years

Narayanan noted, “This quarter marks a significant milestone for us as our domestic sales surpassed INR 5,000 crore.”

He mentioned that the confectionery division showed robust performance in the last fiscal year, driven by KitKat, thereby positioning India as the second-largest market for the brand worldwide.

Narayanan noted, “Our beverages business demonstrated strong performance… and our milk products and nutrition segments experienced significant growth despite inflationary pressures.”

He added that India has become the largest market globally for Maggi.

The company observed that commodity prices, particularly in coffee and cocoa, are facing unprecedented challenges, marked by all-time high prices and an ongoing price rally.

Cereals and grains are undergoing a structural cost increase backed by MSP, while milk prices are expected to rise due to the anticipated harsh summer, it added.

Nestle reported a net profit of INR 3,933 crore for the fifteen-month period ended on March 31, 2024, compared to INR 2,390 crore for the period ended on December 31, 2022 (January to December).

The revenue from operations amounted to INR 24,394 crore for the period ended on March 31, 2024, compared to INR 16,897 crore reported for January to December 2022.

The company has shifted its financial year from the January 1-December 31 cycle to the April 1-March 31 cycle.

Accordingly, the company’s prior financial year extended until March 31, 2024, covering a period of 15 months from January 1, 2023, to March 31, 2024, comprising five quarters.

Nestle announced that its board has approved the execution of a definitive agreement to establish a joint venture with Dr. Reddy’s Laboratories.

Continue Exploring: Nestle and Dr. Reddy’s announce joint venture for nutraceutical brands in India

The partners aim to unite a diverse range of global nutritional health solutions, along with Nestle Health Science’s vitamins, minerals, and health supplements.

The FMCG firm stated that the joint venture is anticipated to commence operations in the second quarter of the financial year 2024-25, pending customary closing conditions.

The board also greenlit the introduction of Nespresso in India, where the company will handle the sales and distribution of the product (machines and capsules) through its distribution network, online channels, and boutiques.

The company anticipates launching Nespresso in India by the end of 2024, as per their statement.

The board proposed a final dividend of INR 8.50 per share of INR 1 each for the fifteen-month financial year that ended on March 31, 2024.

The company’s shares were up by 2.53 percent, trading at INR 2566.15 each on the BSE.

Continue Exploring: Nestle faces regulatory heat as FSSAI launches probe into Cerelac sugar controversy

Radisson Hotel Group expands portfolio with Svelte Delhi, set to open by Q3 2024

SnackTeam

April 25, 2024

On Thursday, the Radisson Hotel Group announced the signing of the 108-room Svelte Delhi, a member of Radisson Individuals.

The hotel is anticipated to commence operations by Q3 2024, creating over 100 job opportunities spanning various roles for talented individuals in the industry.

Positioned strategically at the heart of South Delhi District Centre – Saket, which serves as the city’s retail and entertainment hub, the hotel offers easy access to prominent tourist attractions such as Qutub Minar, Humayun’s Tomb, and Lodhi Gardens.

“Given the proximity to corporate hubs, the hotel is positioned to attract both business and leisure travelers, becoming their preferred destination.”

Continue Exploring: Hotel giants bet big on India: Radisson, Marriott, Hilton, IHG, and Wyndham compete in intense race for expansion

Once operational, the 108-room hotel will offer guests comfortable accommodations across different categories, including superior rooms, premium rooms, and suites, as stated.

“We are thrilled to introduce Svelte Delhi, a Radisson Individuals member, to our portfolio. Nikhil Sharma, Managing Director & Area Senior Vice President, South Asia, Radisson Hotel Group, stated, “This expansion demonstrates our dedication to growing our footprint in significant cities so that we can meet the growing demand for both MICE events and weddings.”

He continued, “We are pleased to collaborate with Advent Hospitality & cater to the needs of modern travellers by offering them with exceptional hospitality experiences.”

“This partnership signifies a major milestone for us, highlighting our commitment to delivering top-notch hospitality experiences. Through our collaboration with Radisson Hotel Group, we aim to enhance operations and industry benchmarks, ensuring guests receive an exceptional experience that distinguishes us,” stated Satish Kumar Gupta, Managing Director, Advent Hospitality Pvt. Ltd.

Continue Exploring: ITC Hotels charts course for expansion, targets 70 new properties within next five years

McDonald’s makes a comeback at East Delhi Mall with a fresh look and enhanced dining experience

SnackTeam

April 25, 2024

McDonald’s has unveiled its revamped outlet at East Delhi Mall in Ghaziabad, Uttar Pradesh, boasting a brand-new appearance.

The restaurant underwent closure for renovation, aiming to transform it into a concept resembling that of McCafe.

Gaurav Gulati, Managing Director of East Delhi Mall, emphasized, “Our goal at East Delhi Mall is to ensure visitors enjoy an unparalleled experience, and the reintroduction of McDonald’s perfectly fits our vision.”

The newly opened outlet, inaugurated on April 16th, showcases modern aesthetics and integrates cutting-edge ordering technology, including AI-powered self-ordering kiosks.

Continue Exploring: McDonald’s India teams up with Lotus Biscoff for delectable dessert delights!

Tanvi Sareen, Marketing Head of East Delhi Mall, expressed, “Customers were thrilled to have McDonald’s back in their neighborhood, and their response was overwhelmingly positive.”

Spanning an area of 2 lakh square feet, East Delhi Mall presents a varied selection of retail options. According to reports, the mall attracts a footfall of 7500-8000 visitors on weekdays.

Last year, it underwent renovations aimed at elevating its visual appeal. The outcome was a distinctive design, providing increased space and a smoke-free environment.

Connaught Plaza Restaurants Pvt. Ltd. manages McDonald’s eateries across the north and east regions of India. With a network of over 150 restaurants, McDonald’s employs 5,000 individuals in North and East India. The chain operates through various formats, such as standalone restaurants, Drive-thrus, 24/7 outlets, and McDelivery services.

Continue Exploring: McDonald’s to expand presence in Noida with new outlet in Sector 73

Nestle and Dr. Reddy’s announce joint venture for nutraceutical brands in India

SnackTeam

April 25, 2024

Nestle India and Dr. Reddy’s have officially inked a deal to establish a joint venture (JV), aiming to introduce cutting-edge nutraceutical brands to consumers in India and other designated regions.

This collaboration will unite the renowned global assortment of nutritional health solutions, including vitamins, minerals, herbals, and supplements from Nestle Health Science (NHSc), while also harnessing the commercial expertise of Dr. Reddy’s.

The joint venture partners will license specific brands to the JV company.

Continue Exploring: Nutraceutical industry growing beyond expectations: FSSAI chief

Optifast, Peptamen, Resource Diabetic, Osteo Bi-Flex, Ester-C, Nature’s Bounty, and Resource Renal and Resource Dialysis will be some of the brands that the Nestle Group will licence. In the OTC and nutrition markets, Dr. Reddy’s will licence brands such Becozinc, Kidrich-D3, Celevida, Rebalanz, and Antoxid. Headquartered in Hyderabad, the joint venture company is anticipated to start operations in the second quarter of FY25.

“This partnership will empower us to establish a strong retail and distribution network, bringing our brands within reach of consumers and fostering a significant impact on enhancing quality of life,” remarked Suresh Narayanan, Chairman and Managing Director of Nestlé India.

“This innovative strategy of capitalizing on the mutually reinforcing strengths of both parent companies will enhance accessibility and affordability for consumers,” commented M.V. Ramana, CEO of Branded Markets (India & Emerging Markets) at Dr. Reddy’s.

Continue Exploring: Govt panel explores shifting nutraceutical regulation from FSSAI to CDSCO

Lenskart set to secure $200 Million funding from Temasek, Fidelity

SnackTeam

April 25, 2024

Singapore’s state investment firm Temasek and US-based Fidelity are in the last stages of negotiations to inject approximately $200 million into Lenskart via a secondary share sale, placing the omnichannel eyewear unicorn‘s valuation at roughly $5 billion.

According to ET, the secondary sale of Lenskart might achieve a valuation 11-12% higher than its previous $4.5 billion, setting it apart from typical transactions that frequently settle at lower valuations.

Temasek, already a current investor in Lenskart, is poised to spearhead the funding round with an investment ranging from $125-150 million. Fidelity, making its inaugural investment in the startup, will provide the remaining funds.

In this funding round, early investors such as TR Capital, KKR, and Avendus are considering selling a part of their stakes in Lenskart. However, SoftBank, holding the largest institutional stake at 16.5%, will not be divesting any shares in this round.

Continue Exploring: Kidswear brand Includ raises $1.5M in seed funding led by Incubate Fund Asia

Established in 2010, Lenskart is India’s largest omnichannel eyewear retailer, with a growing presence in Singapore, the UAE, and other geographies. Lenskart has a customer base of 20 million in India.

Lenskart is further extending its reach into international markets across Asia and the Middle East. As part of its efforts to drive international expansion, the eyewear unicorn acquired OWNDAYS, Japan’s largest online eyewear brand, in a deal valued at $400 million.

Additionally, Lenskart is strategizing to broaden its presence in the Southeast Asia (SEA) market by introducing 300-400 stores in the region within the next two years. Currently operating approximately 70 stores in Singapore, the Delhi NCR-based unicorn intends to venture into Thailand and the Philippines as part of its expansion plans.

Continue Exploring: Meesho to upsize next funding round to $500-$650 Million

Last year, Lenskart secured a $100 million investment from the private equity firm ChrysCapital. Additionally, earlier in 2023, Lenskart raised $500 million from the Abu Dhabi Investment Authority (ADIA).

In FY22, the eyewear unicorn reported a consolidated loss of INR 102.3 crore compared to a profit of INR 28.9 crore in FY21. Lenskart’s revenue from operations saw a remarkable 66% increase to INR 1,502.7 crore from INR 905.3 crore in FY21.

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