Starbucks has introduced its latest array of summer drinks in Latin America and the Caribbean (LAC).
The selection includes the Retro Pink Frappuccino, Iced Retro Pink Starbucks Matcha, and a range of lemonade-infused beverages.
Starbucks stated that the Retro Pink Frappuccino combines cold milk, vanilla syrup, and a creamy Frappuccino base, alongside frozen red dragon fruit pieces, all topped with vanilla whipped cream.
The Iced Retro Pink Starbucks Matcha merges matcha green tea powder with chilled milk and ice, finished with Red Dragon Fruit Cold Foam, presenting a fresh take on the traditional iced matcha.
The company’s fresh lemonade selections feature the Strawberry Frozen Lemonade and Dragonfruit Frozen Lemonade, alongside the Iced Pink Berries Shaken Lemonade and Iced Strawberry Shaken Lemonade.
Alongside the matcha and lemonade beverages, Starbucks is reintroducing the Mocha Cookie Crumble Frappuccino and the Caramel Ribbon Crunch Frappuccino.
The Mocha Cookie Crumble Frappuccino combines Frappuccino chips and mocha sauce with milk and ice, finished with whipped cream and chocolate cookie crumble on top.
The Caramel Ribbon Crunch Frappuccino delivers a caramel scent and a rich roasted coffee flavor.
Starbucks is also reintroducing two coffee selections: the Sun-Dried Brazil Carmo De Minas, characterized by its caramel and hazelnut notes, and the Papua New Guinea Highlands coffee, renowned for its herbal nuances accompanied by hints of sugarcane and black cardamom.
In addition to the beverage debut, Starbucks is unveiling a fresh limited-edition drinkware collection at its LAC stores.
Earlier this month, Starbucks introduced the Spicy Lemonade Refreshers beverage and a new Spicy Cream Cold Foam in Canada.
FMCG giant Hindustan Unilever Ltd (HUL) has reported a 1.53% decline in consolidated net profit to INR 2,561 crore for the fourth quarter ending on March 31. The company had a net profit of INR 2,601 crore during a similar period in the previous fiscal year, according to a BSE filing.
Nevertheless, according to the regulatory filing, the total income for the quarter rose to INR 15,441 crore, compared to INR 15,375 crore during the corresponding quarter of the previous year.
For the fiscal year ended March 31, 2024, the company’s consolidated net profit stood at INR 10,282 crore. It had posted a net profit of INR 10,143 crore in the fiscal year 2022-23.
In FY24, its total income increased to INR 62,707 crore compared to INR 61,092 crore in FY23.
Regarding the company’s financial performance, Rohit Jawa, CEO and managing director, stated, “In FY24, we achieved a resilient performance with a 3% USG and surpassed the INR 10,000 crores Net Profit milestone. Our focus remains on enhancing operational excellence, restoring gross margins, and increasing investments in brands and long-term capabilities.”
Jawa also expressed, “Moving ahead, I am optimistic about the gradual improvement in consumer demand, driven by a normal monsoon and enhanced macro-economic indicators. With increasing affluence, relatively lower FMCG consumption, and robust digital infrastructure, I maintain a high level of confidence in the medium to long-term prospects of the Indian FMCG sector.”
Jawa added, “To meet the evolving aspirations of Indian consumers, we have initiated a ‘Transform to Outperform’ journey. Our primary focuses include enhancing our core through unmatched brand superiority, market expansion, premiumization, portfolio optimization for high-growth areas, and leadership in future channels. Leveraging our unique capabilities, we are poised to sustain success in the Indian FMCG sector.”
The company’s shares ended 0.16% down at INR 2,259.15 apiece on the BSE.
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.
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.”
“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.
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.
“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.
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.
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.”
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.
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.
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.
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.
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.”
“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.
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.”
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.
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.
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.
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.
“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.
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