D2C brand Svish secures investment from cricketer Shikhar Dhawan

April 18, 2024

Svish, a direct-to-consumer brand focused on personal hygiene, has successfully raised an undisclosed sum in a bridge funding round. The investment comes from cricketer Shikhar Dhawan, alongside participation from Ruchirans Jaipuria and several other angel investors.

As part of the investment deal, Dhawan has also taken on the role of brand ambassador for the company.

The startup plans to use the fresh capital to expand into sexual health and new grooming categories.

Established in 2020 by Ishan Grover and Jaideep Mahajan, Svish is a direct-to-consumer brand specializing in personal hygiene. The brand offers products across three main categories: sanitization, hair hygiene, and ‘below the belt’ hygiene.

Continue Exploring: TagZ Foods gains Shikhar Dhawan’s backing, enlists him as brand ambassador for nutritious snacking

Dhawan expressed his excitement about starting this thrilling journey with SVISH. He highlighted the brand’s dedication to innovation and quality, which resonates with his own values. Being an athlete, grooming holds significant importance, and he is enthusiastic about endorsing a brand that provides exceptional products.

Mahajan emphasized that Dhawan’s collaboration with Svish adds an invaluable dimension to the brand.

“His reach in the public domain and relevance make him the ideal ambassador for our mission to redefine standards for hygiene and grooming,” he stated.

“Having reduced our burn rate by over 60%, the company is now poised to attain profitability and strengthen its position as a market leader,” Jaipuria commented.

Svish now joins the ranks of startups such as TagZ, Upstox, and Sarva, where the cricketer has made investments.

In 2022, Dhawan unveiled a global investment fund aimed at supporting sportstech startups, starting with an initial fund of $75 million and an additional greenshoe option of $25 million.

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It’s noteworthy that in 2022, Svish secured INR 10 crore in a pre-Series A funding round, spearheaded by Wami Capital, with LC Nueva AIF also contributing.

Before that, in 2021, it obtained INR 400K in seed funding from LC Nueva AIF.

Indian cricketers have been increasingly investing in the startup ecosystem for a while.

On Wednesday (April 17), the former Indian captain Mahendra Singh Dhoni made an investment in EMotorad.

Just a few weeks ago, KKR captain and Indian cricketer Shreyas Iyer also invested in the healthtech platform Curelo.

Last year saw Hardik Pandya endorsing the kids’ footwear brand Arreto and the direct-to-consumer food startup Yu, while Dhoni chose to invest in the creatortech startup Rigi and the fitness startup Tagda Raho.

Continue Exploring: Indian cricketer Hardik Pandya makes strategic investment in chef-crafted food brand Yu

Amazon to expand Just Walk Out technology to third-party stores amidst halting internal use

SnackTeam

April 18, 2024

Just Walk Out technology (Representative Image)

Amazon, the e-commerce giant, has announced plans to expand the reach of its cashierless shopping technology, Just Walk Out, to more third-party stores from 2024 to 2025.

The company aims to launch more small-format third-party stores equipped with the technology in 2024 than in any previous year, planning to more than double the number of such stores.

This move comes despite the recent decision to halt the use of the technology in its own Amazon Fresh grocery stores.

The Just Walk Out system, currently in operation across 140 stores in the US, UK, Australia, and Canada, enables customers to enter a store by scanning an app, choose their products, and exit without the necessity of checking out at a register.

Continue Exploring: Amazon takes U-turn, decides to discontinue Just Walk Out tech at Fresh stores

The technology not only boosts sales and throughput but also streamlines staffing needs, allowing stores to potentially operate for extended hours, even around the clock without overnight staff present.

Just Walk Out proves particularly effective in stores offering a curated selection of items, catering to customers who typically purchase only a few products.

Responding to reports suggesting that Just Walk Out technology relies on human reviewers in India to monitor shoppers, Amazon clarified that its associates do not observe live video feeds of customers to generate receipts.

The company stressed that the process is entirely automated through computer vision algorithms, with human reviewers utilized only as is customary in other AI systems that prioritize accuracy.

Amazon highlighted that customers favor its Dash Cart particularly in larger grocery stores.

The Dash Cart utilizes advanced computer vision technology, akin to Just Walk Out, to automatically tally the cost of items as they’re added, enhancing the shopping experience, especially in larger establishments.

Continue Exploring: Amazon Fresh expands presence in India, now serving 60 cities with fresh food delivery

The expansion of the Dash Cart is already in progress, with Amazon integrating it into all Amazon Fresh stores and collaborating with third-party grocers to achieve broader adoption.

Customers also show a preference for the security and convenience offered by the palm recognition service Amazon One.

The service, allowing customers to securely check out using the palm of their hand, has been utilized over eight million times.

US craft beer production declines in 2023 despite record brewery numbers; market share inches upwards

SnackTeam

April 18, 2024

Despite a record number of operational breweries, production rates in the US craft-beer industry saw a decline in 2023, according to preliminary figures from the national Brewers Association (BA).

Small and independent brewers experienced a 1% drop in annual beer production compared to 2022, with a total output of 23.4 million barrels.

However, craft beer’s overall annual market share slightly increased by 0.2% from the previous year, reaching 13.3% in 2023.

According to the BA, the growth stemmed from craft declines being less pronounced compared to the overall losses in beer volume.

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Craft beer’s production decline comes as the country’s overall beer market saw a 5.1% decrease in volumes last year, attributed to factors such as pricing and slightly stronger growth in onsite sales compared to distribution, according to industry analysis.

Alongside production data, the BA also unveiled its roster of the leading craft brewers in the US, determined by beer sales volumes.

Boston Beer Co., D. G. Yuengling & Son, Duvel Moortgat, Sierra Nevada Company, and Gambrinus were among the top five craft players. Prominent breweries included Pabst Brewing Company, Heineken, Molson Coors, Constellation, and Anheuser-Busch Inc.

Even though craft production decreased in the US, the number of operating breweries in the craft sector reached an all-time high, rising by 1.37% compared to 2022, totaling 9,683.

Among these breweries, there were 3,900 taproom breweries, 3,467 brewpubs, 2,071 microbreweries, and 245 regional craft breweries.

However, closure rates for craft breweries increased again in 2023, rising from 3% to approximately 4%.

In 2023, the US experienced 495 brewery openings, marking a 9.8% decrease compared to 2022, while closures surged by 31%, with 418 breweries shutting their doors.

Continue Exploring: Craft beer producer Sprecher Brewing makes bold move into energy drinks with Juvee acquisition

Reflecting on the results, Bart Watson, Vice President of Strategy and Chief Economist of the Brewers Association, commented, “2023 proved to be yet another competitive and challenging year for small and independent brewers.”

“However, despite the slowdown in growth, small brewers have demonstrated remarkable resilience, evident in the rise in the number of breweries, relatively low closure rates, and advancements in onsite sales and job opportunities.”

He further remarked, “As always, the beverage alcohol market and consumer demand continue to undergo evolution.”

“Accordingly, many brewers are updating their operations to align with these changes, refining their business models, go-to-market strategies, and brand strategies to adapt to evolving consumer preferences.”

Little Caesars announces major expansion: Over 30 new restaurants set to open across the US

SnackTeam

April 18, 2024

Little Caesars, the American pizza chain, has recently inked numerous multi-unit development agreements aimed at enhancing its footprint across the United States.

Under these agreements, over 30 new restaurants are slated to open in pivotal markets such as San Diego, California; Memphis, Tennessee; Tampa, Florida; and Raleigh, North Carolina.

This initiative aligns with the brand’s strategy to expand its presence through collaborative efforts with operating partners.

Leo Gonzalez, a franchise owner, is spearheading the expansion endeavors in Southern California.

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Having successfully managed numerous Little Caesars outlets in Santa Barbara and Los Angeles, Gonzalez has pledged to launch nine additional locations in San Diego by 2027.

Jocelyn Monperousse and Lissette Isabel, co-owners of RJBL Pizza, are set to unveil the first traditional Little Caesars establishment in Bradenton, Florida.

Their franchise agreement for five units is a component of a comprehensive strategy to foster the development of the Tampa market until 2027.

Patrick Cunningham, Vice President of Development for Little Caesars in the US, commented, “The expansion and traction we’ve achieved in the initial three months of 2024 highlight the resilience and appeal of Little Caesars. Our franchise-friendly business model has attracted numerous seasoned multi-unit operators.”

“We have a strong development pipeline, and we’re committed to building on this momentum as the year progresses. We’re actively looking for ways to expand our reach while using innovation and technology to adjust to our clients’ shifting needs.”

Little Caesars is also introducing a fresh restaurant prototype known as Little Caesars’ PODs.

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The PODs are crafted off-site, enabling a quicker construction timeline in contrast to traditional restaurants.

The company is actively seeking multi-unit franchise operators to participate in its development initiatives, with a specific focus on non-traditional locations like universities, water parks, airports, and stadiums.

Multi-unit franchising opportunities abound throughout the US, with regions such as the Northeast, the Pacific Northwest, Kansas City, New Orleans, and the Carolinas identified as areas ripe for growth.

Danone surpasses quarterly sales forecasts, wraps up European price negotiations

SnackTeam

April 18, 2024

France’s Danone announced on Thursday that pricing negotiations with retailers have concluded for the year, anticipating a reduced impact on its European operations following stronger-than-expected first-quarter sales.

The producer of Activia yogurt, Evian water, and Aptamil maintained its targets for like-for-like sales growth in 2024, ranging between 3% and 5%, alongside a moderate enhancement in recurring operating margin.

Danone’s shares surged by 3% at market open, further climbing to 1.5% higher by 0707 GMT.

During a call to discuss earnings, Chief Financial Officer Juergen Esser stated that the majority of pricing negotiations with European retailers have concluded, indicating a gradual return to normal business operations.

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Similar to Nestle and P&G, Danone is among several prominent consumer goods companies that have significantly increased prices over the last couple of years to navigate elevated input costs, frequently engaging in contentious discussions with retailers such as Carrefour and Tesco.

Cost pressures have escalated due to the COVID-19 pandemic and irregular weather patterns affecting agricultural commodities, and the situation has exacerbated following Russia’s invasion of Ukraine.

During the first quarter, Danone implemented a price increase of 2.9%, marking its most modest hike in at least two years, contrary to analysts’ projections of a 2.7% rise. In the preceding fourth quarter, the company had raised prices by 4.3%.

“This update is likely to position the shares as slightly outperforming peers this morning,” commented Jefferies analyst David Hayes. “The release’s confident tone regarding ‘everything going to plan’ is reinforced by strong performance in key areas.”

Danone’s shares have declined by 3.3% since the beginning of the year, significantly lagging behind the EURO STOXX Consumer Products and Services index, which has risen by 7.3%.

Continue Exploring: Danone teams up with Else Nutrition to expand plant-based infant formula in Europe

In the first quarter, like-for-like sales increased by 4.1% to 6.79 billion euros ($7.25 billion), surpassing expectations for 3.4% growth according to a consensus compiled by the company from 17 analysts.

Despite investor apprehensions that the price increases might result in retailers’ private label brands gaining market share, Danone’s first-quarter sales volumes/mix grew by 1.2%, surpassing the 0.8% increase anticipated by analysts.

Tim Hortons diversifies menu, introduces mouthwatering flatbread pizzas across Canada

SnackTeam

April 18, 2024

Tim Hortons has broadened its menu offerings in Canada by adding flatbread pizza to its lineup across its restaurant chain.

The recent addition comes after thorough testing in various locations, including Mississauga, Ontario.

The brand has perfected four flatbread pizza flavors through subsequent testing nationwide.

Starting May 1, 2024, customers will also be able to choose flatbread pizza for delivery using the Tim Hortons app.

Continue Exploring: Tim Hortons unveils exciting new Iced Capps and refreshing cold drinks menu across Canada!

Hope Bagozzi, Tim Hortons’ Chief Marketing Officer, expressed, “We’ve dedicated significant effort to crafting fresh and enticing menu additions for Tims’ lunch and dinner offerings. After extensive testing and perfecting our recipes, we’re thrilled to introduce Flatbread Pizzas to our customers nationwide.”

The menu will showcase four flavors, each served on a base of roasted garlic flatbread.

Priced at $7.99, the Bacon Everything Flatbread Pizza boasts double-smoked bacon, herb and garlic cream cheese, and a combination of mozzarella and Monterey Jack cheeses, all crowned with Everything Seasoning.

Also priced at $7.99, the Chicken Parmesan Flatbread Pizza features slow-cooked chicken, Parmesan cheese, mozzarella, Monterey Jack cheese, and vine-ripened tomato sauce.

At the same price point, the Pepperoni Flatbread Pizza presents pepperoni, mozzarella, Monterey Jack cheese, and vine-ripened tomato sauce.

The Simply Cheese Flatbread Pizza, priced at $6.99, offers a vegetarian choice. It showcases a blend of mozzarella and Monterey Jack cheese along with vine-ripened tomato sauce.

Continue Exploring: Domino’s diversifies menu with introduction of New York Style Pizza in the US!

Bagozzi emphasized, “Our Flatbread Pizzas are versatile for any occasion. They’re a delightful choice for a fulfilling workday lunch or a crowd-pleasing option for family dinners or weekend get-togethers. You can easily mix and match flavors by picking up a few boxes. They’re also perfect for sharing as a snack with loved ones.”

In February 2024, the company unveiled two fresh additions to its menu lineup: the Sweet Chili Chicken Loaded Wrap and the Loaded Bowl.

These options feature grains, lettuce, freshly diced tomatoes, and cucumbers, with choices of crispy or slow-cooked chicken, or a vegetarian alternative.

Healthy snacking brand Crrunchy sets sights on Gujarat and South India for expansion

SnackTeam

April 18, 2024

Crrunchy, the pioneering startup brand celebrated for its premium flavored makhanas and diverse range of roasted and flavored dry fruits, is set to expand into Gujarat and strategically enter South India by seeking distributors. This move signifies yet another important step in the brand’s mission to deliver gourmet nut treats to customers across the country. With a goal of transforming snacking habits into healthier choices, Crrunchy remains dedicated to providing nutritious and delicious snack alternatives without sacrificing taste or portion size.

Crrunchy’s products have made a successful debut in Delhi-NCR and key cities across Maharashtra, such as Mumbai, Pune, and Aurangabad. Now, the brand looks forward to presenting its exceptional offerings to the refined tastes of Gujarat.

Continue Exploring: Healthy snacking brand Farmley set to expand retail presence, targets 30-40% offline sales share by 2026

Established by Dr. Saurabh Choudhary, a visionary entrepreneur who recognized a market gap for nutritious snack alternatives, particularly with makhanas. Driven by a love for nuts and an unwavering commitment to quality, Dr. Choudhary embarked on a mission to transform eating habits by advocating for healthy snacking options. The brand’s ethos centers on the careful selection, roasting, and curation of premium nuts sourced globally, promising customers an unmatched gourmet experience while promoting healthier dietary choices, with a particular emphasis on makhanas.

Dr. Saurabh Choudhary, Founder of Crrunchy, expressed, “Having solidified our foothold in Delhi-NCR and Maharashtra, we recognize vast potential in Gujarat and South India. Our mission is fueled by a dedication to advocating for healthier snacking alternatives, and we eagerly anticipate introducing our exquisite nut offerings to the sophisticated tastes of these areas.”

Continue Exploring: Healthy snack brand Mr Makhana to hit UK shelves, talks with Tesco and Sainsbury’s underway

Crrunchy presents a wide selection of products, boasting over 20+ SKUs, showcasing flavored makhanas and a variety of roasted and flavored dry fruits. From the luxurious creaminess of buttery makhanas to the irresistible flavors of roasted almonds and cashews, Crrunchy offers a delightful array of nutty treats tailored to satisfy every taste bud.

As Crrunchy pursues its expansion plans, it actively seeks distributors in South India to broaden its market reach and ensure its premium products are readily available to consumers throughout the region.

Apart from being available offline, Crrunchy products can be found on several online platforms, including Amazon, Swiggy Mini, and others.

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

SnackTeam

April 18, 2024

McDonald’s, the renowned American fast-food chain, is set to open a large outlet within Sundream Group’s Anthurium project, acclaimed as Noida’s first digital office space situated in Sector 73. This announcement was made by the real estate developer on Thursday.

According to individuals familiar with the development, the new outlet spans 7,500 square feet and is anticipated to commence operations within the next two months.

“We are delighted to unveil Anthurium as a unique office destination in Noida. Positioned strategically with exceptional connectivity and boasting a remarkable array of both national and international offices, we offer a dynamic and convenient office environment, ensuring a constant flow of customers to the retail brands leasing our space,” stated Harsh Gupta, CEO of Sundream Group.

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

Nestled in the vibrant Sector 73 of Noida, Anthurium benefits from superb connectivity to Noida, Greater Noida, and Delhi, alongside seamless access to various transportation options. Covering an expansive area of around 9 lakh square feet, Anthurium boasts a sustainable design, ensuring unmatched visibility and accessibility.

Furthermore, Anthurium provides access to a captive audience of 15,000 individuals, guaranteeing a consistent flow of affluent daily customers.

Based in Chicago, McDonald’s Corporation was established in 1940 as a restaurant venture by Richard and Maurice McDonald.

Connaught Plaza Restaurants Pvt. Ltd. operates McDonald’s restaurants in the North and East regions of India, owning over 150 establishments in these areas. The brand contributes to direct employment for over 5,000 individuals.

Continue Exploring: McDonald’s launches first stand-alone drive-thru store in Ahmedabad

Swiggy merges Swiggy Mall with Instamart to expand quick commerce offerings beyond groceries

SnackTeam

April 18, 2024

Swiggy, the food tech giant, announced on Thursday that it will merge Swiggy Mall with its quick commerce offering Instamart. This strategic move is intended to enhance consumer choice beyond groceries and staples.

Swiggy Mall, presently operational in specific regions of Bengaluru, signifies the company’s venture into online retail.

With Swiggy Instamart already operating in more than 25 cities, the company stated that Swiggy Mall will be able to scale up in the coming months, starting with Bengaluru.

Continue Exploring: Invesco marks IPO-bound Swiggy’s valuation at $12.7 Billion, up 18% from last fundraise

According to Phani Kishan, Head of Swiggy Instamart, “We’re expanding Swiggy Instamart’s offerings to encompass an even broader range of products. With our latest update, customers can now browse through an extensive selection spanning over 35 categories, extending beyond groceries and home essentials, all delivered within minutes.”

He added, “This signifies a significant milestone in our quest to offer unmatched convenience, ensuring our users have swift access to everything they require, faster than ever.”

Continue Exploring: Swiggy Instamart and Park+ join forces for instant delivery of IndusInd Bank FASTags

In a blog post, the company announced that the integration will expand options for consumers, who are displaying a growing preference for purchasing items beyond groceries and essentials from Swiggy Instamart.

Redtape partners with e-commerce enabler Easyecom for enhanced operations

SnackTeam

April 18, 2024

Redtape, the footwear brand, has established a strategic alliance with Easyecom, an e-commerce enabler platform for inventory management, order processing, warehouse logistics, and reconciliation capabilities.

Arvind Verma, Director of Redtape, expressed, “At Redtape, our dedication lies in providing unparalleled products and customer experiences. Collaborating with Easyecom marks a strategic step towards operational excellence. This alliance is poised to not only streamline our operations but also bolster our agility in meeting the dynamic needs of the eCommerce environment.”

This partnership will enable the footwear and fashion brand to expand its operations, fostering enhanced and smooth customer experiences through streamlined processes.

Continue Exploring: India’s footwear market set for double-digit growth, expected to reach INR 191K Crore by FY 2028: 1Lattice Report

Easyecom provides automation-driven solutions for inventory, order, and warehouse management, as well as payment and returns reconciliation services. Supported by IndiaMart, Easyecom holds a leading position in both domestic and international eCommerce markets. As the preferred Amazon ATS and Flipkart Seller Partner, the company stands out in the industry due to its dedication to customer service and ongoing technology research investments.

Established in 1996, Redtape is a part of the Mirza International brand portfolio and is presently led by Shuja Mirza, serving as the managing director.

RedTape specializes in premium clothing and footwear for all genders, age groups, and occasions through its well-known brands: RedTape Athleisure, Mode by RedTape, and BondStreet by RedTape.

Continue Exploring: Reliance Retail’s Lee Cooper enters women’s footwear segment

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