D2C brand Nat Habit hits INR 100 Crore annual revenue milestone, eyes further growth in beauty and wellness market

April 23, 2024

Nat Habit, a D2C beauty and wellness brand, has surpassed the INR 100 crore milestone in terms of its annualized revenues for the fiscal year 2023-2024.

After securing $10.2 million in December, the brand has been enhancing its online marketplace presence and concentrating on expanding its product portfolio.

Continue Exploring: D2C beauty brand Nat Habit bags $10.2 Million in Series B funding, eyes 4x growth

“We concentrated on expanding our product portfolio and working to strengthen brand penetration, which drove this growth. We have found that our all-natural goods are well received by our customers. Our footprint across all online channels, including marketplaces, has also been growing,” said Swagatika Das, Nat Habit’s Co-Founder.

The brand is also striving to achieve EBITDA profitability within the next 17-18 months.

“We are committed to redefining the category by harnessing the true potential of natural ingredients. Unlike relying on contract manufacturers, we have established our own manufacturing setup. Our vision is to be the forefront of the category with our ‘Fresh Ayurveda’ proposition,” she elaborated.

Approximately 55% of the brand’s revenue originates from its proprietary D2C site, while the remaining portion is generated from e-commerce marketplaces.

The brand is currently in the final stages of solidifying its offline strategy.

“We’ve been proceeding methodically, starting with our own D2C site. After extending the shelf life of our products from 3-4 months to 5-6 months, we expanded to selling on marketplaces. Now, we’re advancing further by stocking our products in marketplace warehouses for quicker replenishment cycles of 5-7 days. Similarly, for our offline strategy, we’ll collaborate with partners who grasp our value proposition and can facilitate swift replenishment,” she clarified.

The startup is broadening its footprint in both hair care and bolstering its skin care lineup. The majority of its business stems from top-tier cities and metropolitan areas.

“Currently, approximately 30% of our business is derived from smaller cities and tier-2 markets,” Das elaborated. “We anticipate rapid growth in this segment as we intensify our efforts to enhance brand awareness.”

Continue Exploring: D2C skincare brand Foxtale secures $14 Million in funding led by Panthera Growth Partners

Tata Consumer Products Q4 net profit dips 19% to INR 217 Crore despite revenue growth

SnackTeam

April 23, 2024

Tata Consumer Products Ltd, the parent company of Tetley tea and Ching’s Secret noodles brands, recorded a net profit of INR 217 crore for the fiscal fourth quarter, marking a 19 percent decrease from the year-ago period.

The company’s revenue increased by 8.5 percent to INR 3,927 crore in the three months ended March 31, as stated in an exchange filing on April 23.

While revenue aligned closely with expectations, profit fell short of estimates. An average of six brokerages polled anticipated a year-on-year revenue growth of 4.8 percent to INR 3,989 crore. The bottom line was projected to increase by 13.4 percent to INR 329 crore.

The EBITDA margin stood at 16 percent, marking a 190 basis points increase.

Continue Exploring: Tata Consumer Products eyes further acquisitions after Capital Foods and Organic India deals

“Our sales and distribution network in India has been strengthened, and as of March 24, we had 4 million outlets worldwide. In every town with a population of one million or more, we divided the routes, and the assortment and growth significantly improved. We are expanding into more rural areas and tightening our focus on Rurban areas. Alternative channels, such as contemporary trade and e-commerce, have seen tremendous growth and are still very powerful growth drivers,” remarked Tata Consumer Products’ CEO and managing director, Sunil D’Souza.

The India Packaged Beverages division achieved a 2 percent increase in revenue. Maintaining its market leadership in tea within the E-commerce channel, the company sustained its position. Additionally, coffee demonstrated robust performance, achieving a remarkable 45 percent revenue growth for the quarter.

During the quarter, Nourishco (RTD business) experienced a revenue surge of 13 percent, contributing to a robust FY24 growth of 33 percent. The company bolstered its sales and distribution infrastructure, extending its total reach to 4 million outlets as of March 2024. Moreover, the company expanded its reach by adding over 1300 distributors in FY24, predominantly targeting Rurban markets.

Tata Consumer Products Limited concluded the day at INR 1173.25 on BSE, marking a 0.07 percent increase from the previous day’s closing price.

Continue Exploring: Tata Consumer Products’ Q3 net profit slides 17% to INR 301.5 Crore, revenue up 9%

P.F. Chang’s continues Indian expansion with second restaurant opening in Gurugram’s CyberHub!

SnackTeam

April 23, 2024

P.F. Chang’s, the American casual dining restaurant chain, has opened its second location in Gurugram, marking its second venture in the country just three months after its debut.

Situated within Gurugram’s bustling DLF CyberHub, the new 140-seat restaurant adds to the vibrant array of dining and retail options in the area.

Rafik Farouk, Senior Director of Global Business Development at P.F. Chang’s China Bistro, shared on LinkedIn, “Exciting developments are underway at P.F. Chang’s! Let’s extend our congratulations to the team and our partners on the launch of their second restaurant in India, situated at DLF CyberHub.”

In India, P.F. Chang’s operates under a franchise agreement with Gourmet Investments Pvt. Ltd., a restaurant brand associated with the Bharti Group. The first Indian outlet opened its doors in January 2024 at One Lodha Place, Lower Parel, Mumbai.

Farouk added, “This latest achievement signifies P.F. Chang’s ongoing expansion efforts in India, as we introduce our globally renowned brand, authentic recipes, hospitality, and culinary principles to new regions within the country. We eagerly anticipate substantial growth in various other Indian cities in the future.”

Continue Exploring: Haldiram’s Nagpur delights Bengaluru with latest restaurant in Malleshwaram

Gourmet Investments has carefully selected a range of international brands, including PizzaExpress, Chili’s, and Ministry of Crab, and currently manages 35 restaurants across India in key cities such as Mumbai, Pune, Delhi-NCR, Bengaluru, Hyderabad, and Chennai.

According to Forbes India, P.F. Chang’s is currently planning to expand into the major metropolitan cities within the next 18 to 24 months, strategizing for its growth.

Founded in 1993 and based in Arizona, P.F. Chang’s has gained acclaim for its mastery of Asian cuisine. Today, the restaurant chain boasts a global footprint, with operations spanning across more than 20 countries and a network of 300 restaurants worldwide, according to the company’s official website.

Continue Exploring: Actress Rakul Preet Singh teams up with Curefoods to debut ‘Arambam’ restaurant in Hyderabad

United Colors of Benetton unveils its largest store in Andhra Pradesh

SnackTeam

April 23, 2024

United Colors of Benetton, the Italian fashion brand, has inaugurated its largest store in the state of Andhra Pradesh, as announced by an industry official on social media. Located at PVP Mall in Vijayawada, the store boasts a sprawling retail space of 3,000 square feet.

In a LinkedIn post, Rohit Jhamnani, the managing director of K J Fashions & Designers, expressed his excitement, stating, “Excited to share the news of the grand opening of the largest Benetton store in Andhra Pradesh, situated at PVP Mall, Vijayawada.”

K J Fashions & Designers holds the master franchise and distribution rights for Benetton in Andhra Pradesh, Telangana, and Kerala.

Continue Exploring: Tata Group eyes expansion with potential stake purchase in Fabindia’s apparel business

Apart from showcasing the brand’s renowned vibrant clothing, footwear, and accessories for men, women, kids, and newborns, the store also highlights Benetton’s latest Spring-Summer 2024 collection.

Founded in 1965 by Luciano Benetton, the Benetton Group inaugurated its first store in Veneto, Italy’s Northern region. Four years later, in 1969, the company expanded beyond Italy, unveiling its first international store in Paris. Presently, according to Pentagram.com, it manufactures over 150 million garments annually for distribution across more than 6,000 Benetton outlets spanning 120 countries.

Benetton entered the Indian market in 1991 and currently runs more than 400 stores spread across over 100 cities nationwide.

In 2022, the retailer stepped into the metaverse by introducing PlayChange, a platform accessible via the online game creation system Roblox.

Continue Exploring: Apparel exports set for 8-9% growth in FY2025: ICRA

The New Shop expands reach with flagship store opening in Jabalpur, Madhya Pradesh

SnackTeam

April 23, 2024

The New Shop, a Delhi-based convenience retailer, has opened a flagship store in Jabalpur, Madhya Pradesh, as stated in a social media post by a top company executive.

“Our flagship store goes beyond being merely a retail outlet; it serves as a convenience hub, providing a comprehensive array of products and services designed to cater to the varied requirements of the local community. Whether it’s fresh produce or daily necessities, we’ve curated everything you need under one roof!” remarked Aastha Almast, Co-Founder.

Continue Exploring: Retail sector sees 8% growth in March 2024

“We extend a warm invitation to all residents of Jabalpur to join us in commemorating this significant milestone and to witness the convenience revolution firsthand. Let’s collaborate to make shopping smarter, simpler, and more delightful for everyone!” she elaborated.

Established in March 2019, The New Shop operates as a franchise convenience retailer, strategically located in densely populated neighborhoods, airports, gas stations, railway stations, and educational institutions, as outlined in the brand’s LinkedIn profile. With a comprehensive omni-channel presence, The New Shop provides a wide array of products including snacks, beverages, personal care items, home essentials, pet care products, confectionery, tobacco, hygiene necessities, ready-to-eat meals, over-the-counter drugs, and grocery staples, as detailed on the brand’s website.

Continue Exploring: Godfrey Phillips explores sale of 24Seven grocery chain to major retail players

India seeks details from Singapore, Hong Kong food regulators following MDH and Everest spice bans

SnackTeam

April 23, 2024

MDH and Everest Spices (Representative Image)

India, widely acknowledged as the world’s leading producer, consumer, and exporter of spices, is actively seeking information from food safety authorities in Singapore and Hong Kong. These authorities have imposed bans on specific spices from Indian brands MDH and Everest, citing quality apprehensions. Additionally, the commerce ministry has instructed Indian embassies in both Singapore and Hong Kong to furnish comprehensive reports regarding this issue.

The ministry has also requested information from the Indian companies MDH and Everest, whose products have been banned due to alleged excess levels of the pesticide ‘ethylene oxide‘ surpassing permissible limits.

“A request for information has been sent to the companies. “We will identify the root cause of the rejection and begin corrective measures in collaboration with the affected exporters,” said a commerce ministry official.

The official mentioned that technical specifications, analytical reports, and information about the exporters whose shipments have faced rejection have been requested from the Embassies in Singapore and Hong Kong.

Continue Exploring: FSSAI launches quality checks on MDH and Everest spice mixes following reports of high ethylene oxide levels

The official also mentioned that information has been requested from the Singapore Food Agency, the Centre for Food Safety, and the Food and Environmental Hygiene Department in Hong Kong.

The ministry official noted that an industry consultation has also been arranged to address the issue of compulsory testing for ethylene oxide in spice shipments bound for Singapore and Hong Kong.

Meanwhile, the Spices Board of India is investigating the prohibition enforced by Hong Kong and Singapore on the sale of four spice-mix products from Indian brands MDH and Everest.

The food safety regulator in Hong Kong has advised consumers against purchasing these products and urged traders not to sell them, while the Singapore Food Agency has mandated a recall of the products.

Continue Exploring: Singapore recalls Everest’s Fish Curry Masala due to high pesticide levels

During the fiscal year 2022-23, the nation exported spices valued at nearly INR 32,000 crore. Major exported spices include chilli, cumin, spice oil and oleoresins, turmeric, curry powder, and cardamom.

Reliance Retail’s Smart & Smart Bazaar embrace premiumization with diverse product portfolio expansion

SnackTeam

April 23, 2024

In a strategic move signaling a shift towards catering to a more diverse clientele, Reliance Retail’s value-format grocery chains, Smart and Smart Bazaar, announced the diversification of its product portfolio to include premium offerings.

According to its latest quarterly report, the grocery retail chains unveiled a variety of upscale products, such as international delicacies, luxury body mists, and high-end serums.

Dinesh Taluja, CFO of Reliance Retail, said, “We’re observing a growing trend towards premiumization across various consumption categories. This is reflected in rising average bill values, primarily fueled by the demand for premium products, leading to improved margins. Moreover, there’s a notable increase in the share of non-grocery items, further enhancing the margins for our business.”

Reliance Retail, India’s largest retailer, reported another quarter of consistent performance in its grocery segment, spearheaded by Smart and Smart Bazaar.

Continue Exploring: Reliance Retail’s Q4FY24 net profit surges 11.7% to INR 2,698 Crore

The recent achievement of Smart & Smart Bazaar’s flagship event, the ‘Full Paisa Vasool Sale,’ saw a notable 21% year-on-year increase in sales, with significant contributions from household and personal care, confectionery, and snacks categories. Likewise, the retailer emphasized the impactful role of Smart & Smart Bazaar’s extensive regional presence in propelling growth, tapping into diverse regional nuances to fuel promising avenues for expansion.

“We are establishing the most extensive regional network of stores in the country,” Taluja remarked. “Therefore, offering both regional and national assortments creates a compelling value proposition for our customers.”

Remarkably, sales in specific markets leading up to Holi surpassed those during the traditionally festive season of Diwali.

“Now, as you’re aware, Diwali is the country’s prime consumption period. However, for the first time, we observed exceptionally strong sales during the pre-Holi period in certain markets. This is likely attributed to the regional insights we possess regarding assortment, as well as our regional communication efforts,” he explained.

Continue Exploring: Reliance Retail’s JioMart sees 94% YoY surge in seller base in Q4 FY24

During the quarter, Reliance Retail’s Grocery New Commerce business segment saw significant growth, propelled by the successful inclusion of new kirana partners through initiatives such as the “Metro Kirana Utsav.” Furthermore, the HoReCa segment witnessed growth as Smart & Smart Bazaar strengthened partnerships with institutional customers, thereby broadening its revenue channels.

V2 Retail to invest INR 90-100 Crore in expansion drive: Plans 35-40 new stores across the nation

SnackTeam

April 23, 2024

Value retail chain V2 Retail has plans to open 35-40 new stores, each covering an area of 4 lakh square feet. Additionally, it intends to invest INR 90-100 crore in store expansion and bolstering inventory.

The retailer also intends to hire over 1500 people across various sectors such as sales, marketing, operations, and customer service, aiming to propel expansion and support the nation’s Skill India initiative.

Continue Exploring: Fashion retailer V2 Retail expands its reach to Bhubaneswar with latest store

“Our vision resonates with the enthusiasm and dedication of our latest team members,” remarked Akash Agarwal, Director at V2 Retail. Underscoring the importance of these new additions, Agarwal emphasized, “Their contributions will be instrumental as we continue to expand.”

V2 Retail offers an extensive selection of apparel spanning various categories, all conveniently available under one roof. With a presence in 17 states, the brand operates 96 stores in both major cities and smaller towns.

Continue Exploring: Fashion retailer V2 Retail expands with three new outlets in Odisha and Bihar

Smartsters expands retail footprint with exclusive store launch in Juhu

SnackTeam

April 23, 2024

Smartsters, the renowned children’s furniture brand, unveiled its 35th store at Linking Road, Juhu in Mumbai on Tuesday. The latest addition is housed within a shop-in-shop concept at Crossword Bookstore.

This marks a significant step in the brand’s efforts to extend its presence into key emerging markets.

Smartsters provides high-quality furniture tailored for children, spanning from toddlers to teenagers.

Ashni Biyani, Co-Founder of Smartsters, expressed, “Teaming up with Crossword was a logical decision for us, given our mutual dedication to enhancing lives and crafting spaces that foster development and creativity.”

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

The launch event featured a panel discussion comprising experts from academia, child development, and design. They delved into the importance of well-designed furniture in nurturing children’s development and providing them with environments conducive to flourishing.

Aditya Patil, Founder and CEO of Ascend International School, psychologist Payal Narang, certified parent coach and educator Piya Marker, Farheen Nanji and Naazish Reshamwala, founders of FN Design Studio, and Bikram Mittra, Head of Design at Smartsters, were among the panellists. The panel discussion was succeeded by Amar Chitra Katha’s storytelling session.

Smartsters presents a diverse array of children’s furniture and accessories, spanning from lively bunk beds and study desks to decorative accents and storage solutions. Additionally, a forthcoming collection will feature beds, study desks, cots, and cribs.

Continue Exploring: IKEA eyes major investment boost in India as it explores next phase of funding and expansion plans

The brand has established its presence in more than 20 locations through shop-in-shops across major cities such as Delhi, Mumbai, Chennai, Goa, Pune, Ahmedabad, and Noida, complemented by an exclusive brand store in Pune.

Collaborating with prominent names such as Crossword, Hamleys, and HT Interiors, Smartsters extends its reach. Moreover, it maintains a presence on various platforms including Amazon, Pepperfry, Firstcry, Myntra, Nykaa, and its own website.

Lifestyle brand Feier expands offerings with affordable activewear collection

SnackTeam

April 23, 2024

Feier, a Mumbai-based lifestyle brand, has ventured into the activewear market.

The latest activewear collection from the brand includes leggings, remix sets, and a range of innerwear, all starting at INR 1,199.

Natasha Vora, Founder of Feier, expressed, “We’ve utilized seamless technology and dynamic design to create distinctive activewear, on par with international brands. Our ethos centers on embracing individuality and empowering customers to feel fantastic, regardless of the occasion.”

D2C activewear brand BlissClub records four-fold surge in operating revenue, reaching INR 68 Crore in FY23, despite widening losses

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