Hennes & Mauritz (H&M), the renowned Swedish fashion brand, has recently inaugurated its 62nd store in Kerala, as revealed by a company official’s social media post. This new outlet, situated at Prestige Forum Mall in Kochi, marks the second H&M store in the city.
“Inaugurating the new Indian fiscal year with a bang! H&M has launched its second store in Kochi at Prestige Forum Mall. This expansion underscores the brand’s dedication to expansion and delivering top-notch fashion to Indian consumers,” stated Louis Coucke, H&M’s country controller for India, in a LinkedIn update.
The first H&M store in Kochi is situated in Edappally.
Over the past few weeks, the fast-fashion retailer has extended its presence across the nation by opening two additional stores in Pune and Siliguri.
Erling Persson established the Swedish fashion brand H&M in 1947.
The brand made its debut in the Indian market in October 2015 and now boasts 62 stores across over 30 cities in the country, according to its official website. Additionally, H&M offers an online shopping experience through its website, app, and also through the fashion e-commerce company Myntra.
In 2023 alone, the brand expanded its presence to new cities such as Bengaluru, Ahmedabad, Patna, and Mangalore.
In January, the retailer named Daniel Ervér as its new president and chief executive officer (CEO) after the resignation of its former CEO, Helena Helmersson.
As the scorching heat of summer envelops India, there’s a palpable surge in the demand for ice creams. With rising mercury, people, especially children, enjoy delights that ice cream offers. However, with dynamic innovations and shifting consumer preferences, it’s not just ice cream scoops that provide respite. The demand for frozen foods of all kinds—from popsicles and frozen yogurt to frozen fruit bars and gelato—reaches new heights as people seek out ways to beat the heat. With this, Delhi-NCR based FroGo, an online frozen food delivery brand is up for the season, led by its visionary founder and CEO Mira Jhala. In an exclusive conversation with SnackFax, Mira reflects on the past year’s achievements and anticipates the future trajectory.
“Last year was very exciting for us at FroGo. Expansion of our infra across the north zone, partnerships with many more brands and growing consumer demand – all keeping us super excited about the frozen food space,” she shared. Moving forward into the current year, Mira emphasizes three key priorities, “Frozen delivered Frozen”, consumer demand shifting rapidly towards online and expansion from ice creams to all frozen foods. This steadfast dedication has propelled FroGo’s expansion across the north zone, forging partnerships with numerous brands and witnessing a surge in consumer demand for frozen delights.
Mira launched an online frozen food delivery platform in 2022 after noticing a gap in the frozen food supply chain. The platform sources a variety of frozen food goods from food manufacturers and delivers them to users.
“The last year or two has been largely an early part of the adoption curve – many brands have been experimenting and trying out things. For the last few months, we have been seeing serious commitment from all players – large enterprises to new entrants – all going for the long haul to win over consumers via online and investing on end to end sub-zero infra via partners like FroGo.”
Speaking about opportunities this year, Mira told that the company has received confirmation on a thesis.
With multiple brands signing up for our B2B line of business, “we are seeing confirmation of that,” she said. “We believe our sub-zero facilities as well as network of frozen dark stores would prove very useful for brands for their own supply chain as well as distribution – especially since the frozen supply chain is truly broken in India.
Addressing the anticipation for the upcoming year, Mira emphasizes the industry’s momentum towards a nationwide infrastructure to support the growing demand. “The next two years are going to be important for creating a nationwide infra for us to support the massively growing demand from our brand partners.”
With an eye on technological advancements, FroGo aims to enhance supply chain visibility, operational efficiency, temperature monitoring and inventory tracking through custom-built software and apps. “Our north star is speed without error across the supply chain—from manufacturer to end consumer,” Mira affirms, highlighting FroGo’s commitment to excellence.
In light of the impending elections, Mira acknowledges the potential impact on consumer sentiment and market dynamics. However, she remains optimistic, viewing the elections as a testament to India’s democratic spirit and an opportunity for growth across sectors, including the frozen food industry.
“We are lucky and honoured to be a part of such an exciting period in India. The entrepreneurial spirit of enterprises like FroGo, among others, will propel India’s growth story ahead. Election season has an impact on all sectors, large or small. Over time, we have noticed an impact on consumer sentiment, stock market sentiment, and investor attitude. “We anticipate that elections will have a significant positive impact on our industry,” she added.
Delving into consumer behavior, Mira elucidates the evolving landscape driven by digital media and e-commerce. “I have no doubt that both will continue to develop. This allows for new businesses to emerge and capitalise on the shift in medium. Not only must familiar brands transition to the new medium, but newer brands must also provide good product quality, inventory availability across geographies, and customer assistance, just as consumers expect from well-known larger brands. Our sector has one key requirement: we deal with frozen food, which must be delivered within minutes – and frozen. As a result, inventory and the supply chain are critical,” she explained.
As demand for frozen food rises, companies like FroGo are preparing to capitalize on this potential market opportunity by improving the cold supply chain. FroGo raised $1.15 million in seed funding last year, marking a critical milestone in its mission to revolutionize the frozen food sector.
While acknowledging the allure of familiar brands, she underscores the importance for emerging brands to prioritize product quality and accessibility. “Consumers are hungry. We at FroGo are creating the sub-zero highway for frozen foods—brands just need to drive their trucks on our highway!” Mira remarks, emphasizing the company’s role in facilitating access to a diverse range of frozen delights.
As FroGo sets its sights on expansion, Jhala expresses enthusiasm for tier 1 and 2 cities, recognizing the untapped potential beyond metropolitan areas. With a focus on accessibility and outreach, FroGo endeavors to bridge the gap between urban and non-metro markets, catering to the diverse needs of consumers across geographies.
“Non-metro cities and towns have consumers who are aware and hungry – as they are mostly underserved. It is definitely very exciting for us to ensure that our sub-zero highway reaches tier 1 and 2 at the earliest and we are working on it. But remember the bulk of business is still coming from metros. The density of consumers and volumes are larger in metros – hence our sub-zero network will be denser in metros,” she told us.
With an eye towards the future, FroGo lists high goals for the season to come, such as growing the number of dark storefronts & adding new brands. “Last season, when we were just getting started, there were roughly 15 stores; this season, we intend to have 100 throughout the northern area. Dark stores are the FroGo sub-zero network’s endpoints. To serve the dark stores, new feeder mother hubs in other locations must be established. Another significant measure is expanding into other frozen categories by partnering with more ice cream businesses. “This season has a lot in store,” she remarked.
Looking ahead, she expects a rise in demand for exotic tastes and guilt-free options, indicating Indian consumers shifting preferences. “Indian consumers are excited about creative brands that offer international flavours. Simultaneously, there is an increasing desire for desi cuisine. She goes on to state, “We have observed a surge in demand seeking guilt-free options.”
Customs officials in India are demanding further duty payments from approximately 45 prominent rice exporters following the enforcement of a 20% export duty, which could potentially disrupt future rice shipments from the nation.
According to sources familiar with the matter, the department has issued notices to these exporters for the period spanning September 2022 to January 30, 2023, with a potential tax demand of around INR 2,000 crore. Additionally, individuals have reported that some port authorities are requiring rice exporters to settle customs duty before clearing shipments.
Several members of the All India Rice Exporters Association (AIREA) independently verified many notices. Before pursuing legal action, the group is expected to take the exporters’ complaints to the government.
In September 2022, India implemented a 20% export duty on white rice, followed by a similar duty on parboiled rice in August 2023, aimed at managing escalating domestic prices. While there isn’t a current ban on basmati rice exports, a minimum export price of INR 1,200 per million tonnes (MT) was initially set, later revised down to INR 950 per MT.
Exporters must remit a 20% duty, calculated on the Free on Board (FOB) value of rice. This duty is subsequently transferred to customers as an additional expense. Despite this, customs officials contend that the duty should be levied on the total value invoiced to customers, prompting exporters to settle the variance.
Exporters claim this will amount to “tax on tax”. “There are a large number of such notices where they are computing tax on the transactional value and not on FOB price,” a member of AIREA said, requesting anonymity.
Though exporters nationwide have received notices, the issue appears to be more pronounced at ports in southern India, where shipments are experiencing delays.
Exporters are apprehensive about facing similar tax obligations for other agricultural commodities like sugar, molasses, and onions, which have also been subjected to export duties by the government.
Rastogi Chambers founder Abhishek A. Rastogi stated, “The value is the total amount that you receive from the recipient, including the tax component. That being said, after tax has been paid on F.O.B. value & export duty has been collected from the clients, Indian exporters need not worry about the calculating part in the event of a demand.”
In the face of extraordinary challenges confronting the cocoa industry, Paul and Mike emerge as a beacon of stability, resilience, and community support.
By strategically prioritizing the sourcing of a significant portion of cocoa from their carefully tended farms in Kochi and Coimbatore, the company confidently tackles escalating input costs. Through the utilization of modern agricultural methods such as precision irrigation, pest control, and innovative farming techniques, Paul and Mike ensure the quality and sustainability of their cocoa supply chain.
In a commendable demonstration of solidarity and community spirit, Paul and Mike stand alongside small artisanal chocolate makers and home bakers confronting the challenges posed by the cocoa crisis. The company intends to provide limited quantities of cocoa beans and baking chocolate at previous rates, thereby supporting the continued production of these small-scale enterprises. This endeavor underscores Paul and Mike’s commitment to nurturing cooperation and resilience within the cocoa community, reflecting their dedication to shared prosperity and collective strength.
In the face of substantial disruptions in India’s cocoa supply chain, characterized by cocoa prices skyrocketing to unprecedented highs surpassing $10,000 per tonne, the industry grapples with an ominous future. Analysts foresee ongoing hurdles that may persist for several years. This highlights the vulnerability of global cocoa production and the pressing necessity for inventive solutions.
Anticipating these challenges as early as 2016, Vikas Temani, the founder of Paul and Mike, initiated thorough research ventures across Latin America and India, laying the foundation for the company’s strategic approach. By focusing on sustainable cocoa tree planting in Kochi and Coimbatore for three years before introducing their chocolate brand in 2019, the company established a precedent for proactive planning.
Utilizing contemporary agricultural methods such as precision irrigation, pest management, and inventive farming practices like no-shade planting, Paul and Mike’s approach showcases a blend of expertise and innovation. Supported by a team that includes a cocoa specialist with a PhD from Kerala Agricultural University, their farms have demonstrated resilience in times of crisis.
Amidst the crisis, Paul and Mike commit to keeping prices steady for their beloved chocolate-based products for the next three months, diverging from the current industry norm of price increases. This pledge highlights the company’s commitment to sustaining affordability and accessibility for their devoted customer base. By placing consumer satisfaction and loyalty at the forefront, Paul and Mike reinforce their status as a reliable brand in the cocoa market.
With their proactive stance, steadfast dedication to excellence, and unwavering support for the community, Paul and Mike warmly invite all artisans to reach out, offering access to cocoa supplies at previous prices. Even amidst the challenges of the ongoing crisis, Paul and Mike persist in their mission to provide top-notch chocolate products while promoting sustainability and community resilience.
The company is in the process of integrating a feature into its app that will allow users to purchase groceries, fashion items, and apparel, according to a report from ET.
Through an ONDC integration, the Ola app will gain access to a wide array of grocers, fashion, and apparel brands already present in cities on the network, as per the report. Additionally, the company has enlisted Magicpin as its technology service provider.
It’s worth mentioning that Ola initially collaborated with the network during a pilot of its food delivery platform in September 2023. Initially limited to its employees, the company’s foray into food technology is now accessible to the public. In January, ONDC announced that Ola is now live on the network in the food category as a buyer app.
A few months later, the company strengthened its relationship with ONDC by teaming up with the network to provide last-mile logistics services for various categories, encompassing food delivery, grocery shopping, and pharmaceuticals.
Ola’s venture into grocery and fashion is anticipated to bolster its logistics operations on ONDC. With this expansion, Ola will be entering the arena alongside competitors such as Pai Platforms (Paytm Ecommerce), Swiggy’s Instamart, Blinkit, and others. Meanwhile, in the fashion ecommerce sector, there are startups like 82°E, Beyoung, Snitch, and others.
Uber, Ola’s main rival in the ride-hailing industry, has also recently entered the ONDC arena. In February, the company signed an agreement with the network to explore integration options, aiming to broaden its spectrum of mobility services.
The startup’s plans for horizontal expansion coincide with its decision to close certain segments of its ride-hailing operations. Earlier this month, the company revealed its intention to cease operations in the UK, New Zealand, and Australia. Ola stated that it aims to concentrate on India, recognizing significant expansion opportunities within the country.
Inditex, the Spanish fashion giant, will introduce its youth-oriented clothing label, Bershka, and home decor brand, Zara Home, to the Indian market this year.
In its latest annual report, it said, “Bershka will open its first store in Mumbai Palladium, and Zara Home will open in Bangalore.”
Inditex introduced its fast-fashion label Zara in 2010 and debuted the premium clothing brand Massimo Dutti eight years prior. Now, with its latest addition, Bershka, Inditex ventures into direct competition with Reliance Retail‘s Yousta, both targeting the younger consumer segment.
As the world’s second most populous country, India presents an enticing market for apparel brands, particularly as younger demographics increasingly adopt Western-style clothing. Fast-fashion giants like Zara and H&M quickly soared to success upon entering the Indian market.
Experts noted that Bershka primarily caters to consumers in their teens to mid-20s, slightly younger than Zara’s target demographic, which focuses on fashion-forward customers aged 20 to 40.
Devangshu Dutta, founder of retail consulting firm Third Eyesight, explained, “The product assortment differs, with a higher emphasis on knits, fewer dresses, and an overall more casual vibe compared to Zara, aligning with the lifestyles of the target customer group. Hence, it’s unlikely to significantly cannibalize Zara’s market share, although some younger Zara customers may shift some of their purchases to Bershka.”
“The important question, given competition from local brands like Zudio and Yousta, is whether Bershka can reach the price points desired by young Indian fashion consumers,” he continued. Will cheaper prices outweigh the distinctive stylistic options and allure of the European brand, which might draw sizable crowds and guarantee the brand’s survival?”
As per a recent Motilal Oswal report, the value fashion segment, valued at INR 2.5 lakh crore, constitutes 57% of the overall apparel market and stands out as one of the largest and most rapidly expanding segments. With significant potential lying untapped beyond metropolitan and tier-1 cities, propelled by favorable demographics, rising incomes, and heightened consumer aspirations, numerous major players have ventured into a market once predominantly ruled by regional and local operators.
Since its establishment in 2016-17, Zudio has experienced significant growth, boasting nearly 400 standalone stores. Its success has outstripped that of many apparel brands, largely attributed to its competitively priced products, with an average selling price of INR 300. Riding on the coattails of Zudio’s triumph, the segment has witnessed the entry of national retailers into the affordable youth clothing sector, including Yousta by Reliance Retail, Style-Up by Aditya Birla Fashion and Retail, and Shoppers Stop’s InTune.
Consumer goods prices are still elevated compared to two years ago, even though companies have reduced prices on the majority of products in home, personal, and food categories over the past few quarters.
Raw material prices are beginning to exhibit early signs of inflation following a period of moderation, suggesting potential price hikes in certain categories may be imminent.
Over the past two years, the majority of consumer goods companies have implemented price increases of over twenty-five percent to counteract escalating costs attributed to factors such as raw materials, supply chain, and energy.
Cost inflation initially emerged during the pandemic and intensified following Russia’s invasion of Ukraine. Prices of crude oil, palm oil, LAB, and coffee experienced notable increases compared to both a quarter and a year earlier, while cocoa, coffee, and sugar prices saw sharp rises.
Krishnarao Buddha, senior category head for marketing at Parle Products, India’s largest food company, stated, “We need to acknowledge that the current product prices represent the new norm. Despite reductions in the prices of certain raw materials, we continue to face pressure on input costs, particularly in the food sector. Product prices are likely to either remain steady or even rise in some cases, with further price reductions being improbable.”
Boston Consulting Group notes that prices for household care products, foods, and beverages have more than doubled over the last decade, with a particularly sharp rise observed in the period following the Covid pandemic.
Analysts noted that despite the deflation of raw material prices over the past year, companies have mostly preserved the benefits through margin expansion. In a recent report, BNP Paribas mentioned that due to competitive pressures, volume constraints, and robust gross margins, companies are likely to refrain from raising prices in the immediate future.
The report, which monitors monthly prices of over 150 FMCG products across 20 categories, states that in beauty and personal care, some categories experienced slight price reductions in the last two months. However, oral care witnessed significant price increases with no reversal observed thus far. Despite a 15% reduction in prices for detergents and dishwashing products over the last six months, they remain 4-30% higher compared to two years ago. In the food and beverage sector, prices have largely remained stable over the past six months, except for edible oil.
For instance, soap prices have remained steady over the past six months but are still 15-20% higher compared to levels seen two years ago.
Over this period, the oral care category has experienced significant price increases, contributing to market leader Colgate’s Ebitda margin reaching a record high of 33.6% in the December quarter.
While detergent prices saw a 15% rise over the past two years, there were price cuts in the last quarter. However, with raw material prices beginning to rise again, implementing further price increases may prove challenging.
The growth in sales of fast-moving consumer goods (FMCG) in rural areas has surpassed that in urban markets for the first time in nearly three years. This early indication of demand recovery is attributed to a lower base and price reductions aimed at mitigating hyperlocal competition.
In February, Sudhir Sitapati, the managing director at Godrej Consumer Products, remarked that commodity prices are currently stable to slightly on the rise, whereas wage inflation is increasing. As a result, product prices are expected to be slightly higher than before in the coming quarters, potentially leading to high-single-digit value growth for the industry this calendar year. He also noted that in Fiscal Year 2024, volume growth outpaced value growth for the industry, mainly due to many FMCG product prices turning negative.
With a growing number of young people turning to apps for food purchases, a recent study has raised concerns about the lack of nutritional information for most advertised items on online food delivery menus. This absence hampers consumers’ ability to make informed and healthy choices.
Researchers from the University of Sydney analyzed the menu offerings available on leading online food delivery platforms and apps.
They discovered that fewer than 6 percent of food outlet menus on online delivery platforms such as UberEats, Menulog, and Deliveroo included comprehensive nutritional labeling.
The researchers reviewed a collective of 482 menus from UberEats, Menulog, and Deliveroo for their study, which was published in the journal Public Health Nutrition.
Lead study author Sisi Jia stated, “Numerous studies demonstrate that menu labeling has tangible effects in the real world, with consumers provided nutritional information opting for meals with notably lower energy content.”
“Although there is an increasing need for food delivery services, it is still unclear how well online platforms are implementing menu labelling,” said Jia from the University of Sydney’s Susan Wakil School of Nursing & Midwifery and the Charles Perkins Centre.
The utilization of online food delivery services has experienced rapid growth, particularly during the pandemic.
According to the researchers, online food delivery is also simplifying the purchase of food with low nutritional value.
Riyaaz Amlani, Founder and MD, Impresario Entertainment and Hospitality
Impresario Entertainment and Hospitality, the company behind the restaurant chain ‘Social’, is aiming to establish 10 to 15 new brand outlets annually, particularly targeting tier-2 cities for expansion, according to its founder and MD Riyaaz Amlani.
The company, which also owns restaurant brands such as Smoke House Deli and Mocha, remains positive about its future in India, citing factors like as demographic dividend and rising demand for premium experiences.
Amlani stated, “Within the broader food services market, quick service restaurants (QSR) and casual dining restaurants (CDR) stand out as the primary drivers of growth. Our flagship brand, Social, uniquely positioned between a cafe and a bar, falls within the CDR category, presenting significant opportunities for expansion within this segment.”
Impresario intends to launch 10-15 new Social outlets each year, leveraging its expertise. Highlighting the company’s performance, he pointed out a double-digit revenue growth in the current fiscal year (FY24) compared to FY23.
“We maintain a bullish outlook and are optimistic about our growth in India. In the upcoming year, we will continue to expand Social into new neighborhoods,” Amlani affirmed.
Impresario operates a network of more than 60 restaurants spanning across over 20 cities in India.
Based on information obtained from the business intelligence platform Tofler, Impresario’s total consolidated revenue stood at INR 573.66 crore in FY23.
Regarding expansion, Amlani described the company’s two-fold strategy: “expanding into new tier-2 towns and targeting state capitals, while also delving deeper into existing markets to reach additional neighborhoods.”
In 2023, it expanded by opening Social outlets in emerging markets such as Dehradun, Kolkata, and Hyderabad.
“We have high hopes for growth outside of our present cities of Mumbai, Bangalore, New Delhi, Pune, Kolkata, Hyderabad, Gurugram, Chandigarh, Indore, Dehradun, & Faridabad. This year, we want to explore new cities and look for chances to offer unique, locally relevant experiences,” he said.
The company is implementing a strategy of diversifying outlet formats based on regional considerations and other relevant factors.
We currently run corporate parks in Bengaluru & Mumbai, as well as standalone stores in upscale neighbourhoods and malls. “We will continue to innovate our designs & spaces to suit the unique attributes of every area and community we enter,” Amlani said.
It also manages several cloud kitchen brands such as Boss Burger, Lucknowee, and Aflatoon by SocialL, primarily operating from Social premises to provide a diverse culinary experience.
“Currently, a significant part of our sales comes from these cloud kitchen brands & currently makes up 10 to 12 % of our overall business,” he stated.
Additionally, it manages restaurants such as Slink & Bardot, a French diner, Bandra Born, a cocktail bar, and Prithvi Cafe in Mumbai.
Thinsters are slender, bite-sized cookies crafted with ingredients known for their purity. Originally launched in 2014 under the name Mrs. Thinsters, the brand became part of Clearlake Capital Group, LP’s acquisition of That’s How We Roll, LLC in 2016. In 2019, it was rebranded as Thinsters. Subsequently, in a deal totaling $259 million, the Hain Celestial Group acquired Thinsters along with Parmcrisps two years later.
“This acquisition seamlessly aligns with our extensive range of cookies and baked goods,” stated Dan Fachner, President and CEO of J&J Snack Foods. “Thinsters’ commitment to utilizing top-notch, wholesome ingredients perfectly aligns with the preferences of our expanding customer base. We eagerly anticipate utilizing our expertise to broaden distribution channels and introduce Thinsters cookies to a broader audience.”
J&J Snack Foods also boasts ownership of other snack brands such as SuperPretzel, Hola Churros, and Funnel Cake.
Wendy Davidson, President and CEO of Hain Celestial, expressed, “By divesting Thinsters, we enhance the efficiency of our supply chain network, allowing us to concentrate our efforts on expanding the reach and scale of our core better-for-you brands within our targeted categories. We are pleased to have reached this agreement with J&J Snack Foods and have full confidence that the business will flourish under their leadership.”
The acquisition of Thinsters and Parmcrisps did not yield favorable results for The Hain Celestial Group. Just over a year post-acquisition, the company reported a pre-tax, non-cash impairment charge of $156 million related to the brands, citing a substantial decline in distribution, according to the company’s statement.
The initial premise, in my opinion, was that the risk associated with channel concentration would be surpassed by the growth of channels. Davidson made this comment during a May 9, 2023, conference call regarding the impairment charge. “But it turned out that these two elements were actually in opposition.” “Therefore, what we are witnessing currently is a result of acknowledging the current state of the brand.”
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