Taco Bell has introduced a fresh beverage line called Agua Frescas, available exclusively at one location in Irvine, California.
Enhanced with authentic fruit chunks and crafted with a green tea foundation, the drink debuts in flavors like Strawberry Passionfruit, Peach Mango, and Dragonfruit Berry.
The Agua Frescas collection is available in a 16oz cup size, priced at $3.99.
Customers have the option to place their orders in person at the 2222 Barranca Parkway location.
The exclusive collection will be accessible until late May 2024 or while stocks last.
Taylor Montgomery, the Chief Marketing Officer of Taco Bell, expressed, “Our aim is to make our beverages as iconic as our food.”
“Our new Agua Refrescas will aid us on our journey to establish Taco Bell a beverage destination. They are the perfect, vibrant pairing with anything our fans desire from Taco Bell.”
Following recent trials of Coffee Chillers and Churro Chillers in Southern California, Taco Bell is actively exploring new additions to its beverage menu with this initiative.
Drawing inspiration from Mexican flavors, Coffee Chillers and Churro Chillers were exclusively featured as limited-time menu items at the Santa Margarita Parkway store in Mission Viejo and the Barranca Parkway store in Irvine.
The Coffee Chillers were served in a 16oz cup, featuring a flavored base, filled with blended iced coffee, and topped with a layer of cold foam.
The Churro Chiller was also offered in a 16oz cup, featuring a flavored base, filled with a blended sweet shake, and topped with cold foam and churro crumbles.
The Sweet Vanilla Churro Chiller also sported a purple hue.
To celebrate 25 years of its beloved Iced Capp, Tim Hortons, the Canadian restaurant chain, is introducing the deliciously new Caramilk Iced Capp and reintroducing the fan-favorite Oreo Double Stuf Iced Capp.
The Caramilk Iced Capp blends the signature Tims Iced Capp base with milk chocolate chunks, topped with whipped cream and drizzled with caramel syrup.
The Oreo Double Stuf Iced Capp features Oreo cookie crumbles, vanilla syrup, a creamy layer of vanilla-flavored whipped topping, and an extra sprinkle of Oreo crumbles for added delight.
Tim Hortons is unveiling its complete array of refreshing cold beverages for the summer of 2024. Among them is the Mango Starfruit Sparkling Quencher, delivering a taste of the tropics, and the Wildberry Hibiscus Sparkling Quencher, blending fruity and floral tones for a delightful sip.
Another standout option is the Tiramisu Cold Brew, crafted with 16-hour steeped espresso-infused cold foam, combined with tiramisu syrup, and finished with a dusting of cocoa powder on top.
Carolina Berti, Tim Hortons’ Vice President of Category and Innovation, expressed, “As my favorite season arrives—cold beverage season—we’re thrilled to offer a range of incredibly delicious, flavorful, and thirst-quenching options to savor throughout the spring and summer months.”
“And it’s really exciting to be commemorating the significant anniversary of the much-loved Iced Capp, a beloved frozen beverage that is exclusive to Tim Hortons and a summertime mainstay for a great number of our guests across Canada.”
These refreshing spring and summer beverages are now available at select Tim Hortons locations throughout Canada and can also be ordered for delivery via the Tim Hortons app.
Situated in the Garden City, this marks the third Bastian venture in India, following two in Mumbai, situated in Bandra and Dadar respectively. Reflecting the essence of its Mumbai counterparts, Bastian in Bengaluru occupies a breathtaking space adorned with décor reminiscent of stylish holiday destinations worldwide. Its captivating boho-chic ambiance and elegantly understated interiors, featuring hues of beige, white, and taupe, serve as an ideal canvas for striking design features such as an imposing bar, gently swaying vertical ceiling fans, and a contemporary chandelier that casts a soft, inviting glow, setting the perfect evening atmosphere.
Ever since its inception in 2016, Bastian has garnered acclaim for its culinary delights—a fusion of daring experimentation and beloved comfort fare. True to its reputation, Bastian Bengaluru presents a menu brimming with decadent, palate-pleasing dishes drawing inspiration from both American and Asian cuisines. Complementing this gastronomic journey is a meticulously crafted bar selection, ensuring Bastian remains a premier destination on Mumbai’s nightlife scene.
Ranjit Bindra, the founder and CEO of Bastian Hospitality Private Limited, expresses, “Bastian emerged as a dream brand in Mumbai, the City of Dreams, and now finds its debut in Bengaluru, the Garden City, known for its youthful energy and vibrancy. Our vision has always centered on crafting a hospitality brand renowned for its exceptional dining and bar experiences. We’re thrilled to kick off our nationwide expansion with this exciting launch in Bengaluru. Drawing inspiration from our global adventures and trends, we’ve adeptly tailored each offering to resonate with our local patrons. We eagerly anticipate our new audience in Bengaluru embracing the Bastian experience, a journey we’ve poured our hearts into creating.”
Senco Gold Ltd, a prominent player in the jewellery retail sector, stated that the recent sharp surge in gold prices due to geopolitical reasons has dampened demand. The company emphasized that the industry’s first-quarter performance hinges upon ongoing buying propensity during festive and auspicious New Year celebrations. Based in Kolkata, the retail chain has implemented a range of measures to address the demand situation, including a shift towards diamond-studded gold jewellery and consumer-centric schemes.
Nevertheless, a senior company official remarked that these measures might not fully offset the 15-20 percent decline in volume observed in March and April.
Senco Gold’s Managing Director and CEO, Suvenkar Sen, highlighted the significant fluctuations in gold prices, noting a recent 10 percent increase in the past month and a 23-25 percent rise over the last six months. This pronounced volatility has adversely affected retail purchasing sentiment, resulting in a notable 15-20 percent decline in industry volumes, Sen stated.
Eid, Bengali New Year, Akshay Tritiya, and various regional New Year celebrations are anticipated to boost demand in stores. However, some retailers may face obstacles due to cash movement restrictions enforced by the election model code of conduct.
Senco disclosed a 23 percent increase in its consolidated net profit, reaching INR 27.6 crore for the quarter ended June 2023. This growth was supported by a 30 percent expansion in revenue, totaling INR 1,305 crore.
He did acknowledge, however, that in terms of value, the market is anticipated to remain stagnant, given that gold prices are hovering around INR 70,000 per 10 grams.
Sen anticipates that the year-on-year fourth-quarter sales, which concluded in March 2024, will exhibit a flat performance.
The company is currently in a silent period for results, therefore Sen declined to divulge more specific details.
Senco announced the introduction of a price guarantee scheme for six months as part of the Marigold scheme. Traditionally, the industry offers such guarantees only up to one month until Akshay Tritiya. With this scheme, customers can book gold and secure immunity from price rises.
During this period, the company is additionally providing discounts on making charges to stimulate sales. Moreover, it offers DigiGold, enabling customers to invest in gold for as little as INR 300.
Sen stated that the company has shifted its focus towards diamond-studded gold jewellery, a move that has either minimized the price difference or even rendered the ornaments less expensive, given their composition of 14-carat gold.
He anticipates that the contribution of diamonds, including lab-grown ones, currently comprising 11 percent of total revenue, will rise to a minimum of 15 percent within the next 2-3 years.
The company recorded a revenue of INR 4,104 crore and a net profit of INR 148.8 crore for the nine-month period that ended on December 24th.
Barista, a trailblazer in fostering coffee culture in India, has just unveiled its Mango Festival, an ode to the exuberance of the revered king of fruits during the summertime.
Barista has brought forth two irresistible treats designed to tantalize your taste buds and invigorate your senses: the Alphonso Thick Shake and the Alphonso Delight Gateau.
The Alphonso Delight Gateau tantalizes with its luscious blend of fresh Alphonso mangoes encased within a sumptuous gateau pastry, promising a harmonious fusion of flavors and textures.
Accompanying the Gateau is the Alphonso Thick Shake, a revitalizing drink that marries Alphonso mangoes with Barista’s exclusive recipe, offering a delightful explosion of tropical flavors in every sip. Guaranteed to win over mango aficionados, the Alphonso Thick Shake is set to be a crowd favorite.
Rajat Agarwal, CEO of Barista Coffee, expressed, “The Mango Festival showcases Barista’s commitment to innovation and excellence, providing customers with a one-of-a-kind and delightful experience. Mangoes are quintessential to Indian summers, and we’re thrilled to unveil these new mango delights that authentically encapsulate their essence.”
Both the Alphonso Thick Shake and Alphonso Delight Gateau will be accessible at every Barista establishment across India.
Founded in 2000, Barista Coffee Company stands as India’s trailblazer in cultivating coffee culture. The Barista Café chain offers an authentic coffee experience within a welcoming, convivial atmosphere, fostering a cozy space for patrons to unwind amidst engaging discussions and a steaming cup of coffee. Apart from India, Barista cafés are also situated across the enchanting landscapes of Sri Lanka and the Maldives.
Blinkit, the quick commerce company under Zomato‘s umbrella, is now offering delivery of eyewear items from Lenskart in less than 10 minutes, according to a LinkedIn post by Blinkit founder Albinder Dhindsa on Friday.
The post mentioned, “Blinkit customers can now receive Lenskart.com products within 10 minutes. Kicking off with the delivery of sunglasses and their Hustlr range (Computer Glasses). It will be intriguing to witness the evolution of Hustlr as a brand over time.”
Quick commerce companies are broadening their offerings beyond groceries. Categories like beauty, toys, health, and electronics are experiencing strong sales growth on quick-commerce platforms.
Arindam Paul, a founding member and CBO at Atomberg, announced in a LinkedIn post on Thursday that the company has initiated sales of its products on a quick commerce platform. He emphasized that the prices remain consistent with those offered on other e-commerce platforms.
Last week, Blinkit made waves when it announced that it would be launching the PS 5 on its platform. “Blinkit customers residing in Delhi-NCR, Mumbai, & Bengaluru will be able to have the latest PS 5 & controllers delivered within 10 minutes,” Dhindsa wrote.
A week after the launch, he went on LinkedIn to reassure customers that the company is actively replenishing PlayStation 5 stock at its stores, as the product sold out within a week.
Mahesh Chopra, Founder of Mom's Kitchen with Kewal Ashwini Ahuja, Founder of SGF India
In a notable development within the culinary realm, SGF India (Spice Grill Flame) has announced the acquisition of Mom’s Kitchen, a Chandigarh-based food chain, recognized for its authentic home-cooked flavors and warm hospitality in Indian cuisine. This strategic move signals a new chapter for both entities, as they join forces to elevate the culinary experience to new heights.
The brand has accomplished the feat of establishing over 100 outlets nationwide, standing as proof of the dedication demonstrated by SGF India and Mom’s Kitchen.
SGF acquired Mom’s Kitchen for its unique commitment to providing healthy, flavorful home-cooked meals tailored to individuals living away from home, such as students and working professionals. This acquisition has broadened the reach of Mom’s Kitchen’s flavors, leveraging SGF India’s network for strategic outlet expansion. It has also facilitated new marketing initiatives, leading to higher foot traffic, customer engagement, and revenue generation, showcasing their mutual dedication to delivering exceptional culinary experiences.
“We are delighted to embark on this journey with Mom’s Kitchen, as we both share a mutual commitment to delivering unmatched culinary experiences. Our partnership highlights the transformative impact of collaboration in the culinary world. Surpassing the milestone of 100+ outlets speaks volumes about our steadfast dedication to excellence. Together, we are positioned for ongoing success, fueled by innovation and a shared love for gastronomy,” stated Kewal Ashwini Ahuja, Founder of SGF India.
Moving forward, Mom’s Kitchen and SGF India have devised thorough growth strategies encompassing intelligent location selection, franchise model enhancement, menu innovation, digital presence, and strategic partnerships. These endeavors are geared towards enhancing their culinary offerings and bolstering their presence in the flourishing food industry.
Established in 2017 by Mahesh Chopra, Mom’s Kitchen specializes in offering nutritious meals, addressing a significant gap in the market. With a presence in over 20 outlets nationwide, Mom’s Kitchen’s focus on providing healthy home-cooked meals resonated with a diverse customer base, positioning it as a valuable asset within SGF’s portfolio.
In the past decade, the share of vanaspati in the assortment of cooking oils preferred by Indians has nearly halved to 2.88%. Nonetheless, it still commands the second-highest weightage in the wholesale price index (WPI) at 14.35%, following palm oil. In contrast, sunflower and soybean oils, now more commonly consumed, receive lower weightages in the 2011-12 WPI, potentially leading to flawed inflation data.
Recently, the Solvent Extractors’ Association of India (SEA) penned a letter to the Centre, advocating for an adjustment in the weightage of various oils in the WPI to accurately mirror current consumption patterns.
The weightage of edible oils within the food articles category of the WPI stands at 2.64293%, determined by both consumption levels and average prices.
“In recent years, there has been a complete shift in the consumption pattern of edible oils,” stated the association in a letter addressed to the consumer affairs ministry.
The association highlighted that price sensitivity and availability are the primary factors driving the shift in cooking oil consumption patterns, with health considerations following closely behind.
While regional preferences exist, with mustard oil favored in northern India and copra oil in Kerala, industry veterans note that groundnut oil held sway as the predominant choice across most regions of the country until five to six decades ago.
Atul Chaturvedi, chairman of the Asian Palm Oil Alliance, mentioned that during the 1960s and 1970s, groundnut oil dominated as the primary cooking oil across much of the country. Moreover, it served as a key ingredient in vanaspati production. However, while groundnut production remains steady, a considerable portion is now being directed towards exports. Simultaneously, the demand for groundnuts as a snack has surged, resulting in diminished availability for cooking oil.
This shift has led to groundnut oil becoming one of the most expensive cooking oils in the country over the past decade. Palm oil has largely taken over the role previously held by vanaspati.
Not only have Indians altered their oil preferences, but they’re also consuming more oil per person.
Chaturvedi said, “The per capita consumption of cooking oils increased from 7 kg in the early 1980s to 18 kg today.”
As per the SEA, the consumption of specific edible oils referenced in the WPI during 2022-23 stood at approximately 26.03 million tonnes. Among these, vanaspati consumption accounted for about 750,000 tonnes or 2.88%. However, according to the WPI 2011-12, its weightage was 14.35%.
The past year has witnessed a notable increase in the consumption of soybean and sunflower oils, largely attributed to their comparatively lower prices in international markets originating from Ukraine and the Russian region around the Black Sea, when contrasted with palm oil.
Although soybean oil constitutes nearly 20.15% of total consumption, its weightage in the WPI is only 12.96%. The consumption of soybean oil surged, doubling from 2.67 million tonnes in 2011-12 to 5.25 million tonnes in 2022-23.
In WPI 2011-12, sunflower oil was assigned a weightage of 8.75%, whereas its current share in total consumption stands at 11.16%. Sunflower oil consumption has risen to 2.9 million tonnes in 2022-23 from 1.05 million tonnes in 2010-11.
Chaturvedi pointed out, “The stagnant production of palm oil in Indonesia and Malaysia, coupled with its increasing diversion for biodiesel, has made palm oil more expensive compared to relatively premium oils like sunflower and soybean oil.”
The share of palm oil in total cooking oil use has dropped to 36% from 44.7% in 2014–15 (it was 39.9% in 2010–11).
Beyond Snack, the brand known for its banana chips, is aiming to enter the tier 2 and 3 regions of India and extend its global reach to 12 countries with its latest products, according to Manas Madhu, the Co-Founder of the company.
The brand has predominantly focused on tier 1 and metropolitan cities, solidifying its presence in 21 cities and 10 states across India. Additionally, it has already made inroads into several countries such as the U.S., UAE, Australia, Sweden, Qatar, Nepal, Singapore, and Mauritius.
Madhu stated that in the current fiscal year, the brand aims to double its retail touch points across India, expanding to reach 40,000 outlets.
Recently, the brand unveiled coconut oil-based banana chips, offering both rock salt-infused and wavy-style variations. The focus is on introducing trade-compatible innovations that bring meaningful additions to the category.
Madhu remarked, “Consumers are increasingly trusting Beyond Snack as a brand, which makes them more willing to try out new market innovations from the same brand.”
Therefore, the brand intends to introduce additional innovations in FY25.
With ambitious expansion and product release strategies, the company aims to reach the INR 100 crore revenue milestone this fiscal year. Madhu emphasized, “Given that our product is often an impulse buy, our prominent placement on retail shelves significantly enhances its value. Therefore, distribution and retail visibility will be paramount in attaining our revenue targets.”
“This fiscal year, we anticipate a shift in sales contributions between online and offline channels,” Madhu explained. “As we prioritize aggressive expansion in offline channels, we expect offline sales to surpass online sales.”
Speaking more about the cash burn, he said that organisational spending is still in the single digits. “Our main priority is on sustainable growth instead of excessive spending,” Madhu said.
The brand is steadily advancing its online marketing efforts while also assisting offline partners through Below-the-line (BTL) activities. This year, it aims to explore fresh marketing avenues and contemplate above-the-line (ATL) initiatives to bolster distribution, emphasizing the synergy between online and offline endeavors.
Blue Tokai Co-Founders: Shivam Shahi, Namrata Asthana, Matt Chitharanjan
Blue Tokai, the specialty coffee chain, is reportedly in advanced talks to close a new fundraise at a valuation between USD 180 – 200 million, ET reported, citing sources familiar with the matter.
Although the size of the fundraising has not been disclosed, the upcoming round is expected to more than double the company’s valuation. In January of last year, Blue Tokai secured USD 30 million in a Series B round, reportedly valuing the company at around INR 650 crore.
Queries directed at Blue Tokai went unanswered.
According to a report by The Arc, the company is in the process of raising approximately USD 40 million.
Earlier this week, 12 Flags Group, the consumer fund established by Rakesh Kapoor, former global chief of Reckitt Benckiser, announced its investment in Blue Tokai Coffee Roasters through a LinkedIn post. However, the company refrained from disclosing the size of the investment.
Besides 12 Flags Group, the upcoming fundraise for Blue Tokai may also involve participation from its current investors. Whether a new investor will join the fray remains to be seen.
The company’s investor roster includes A91 Partners, Anicut Capital, 8i Ventures, DSP Blackrock, Negen Capital, Mauryan Capital, and White Whale Ventures. Additionally, Bollywood actor Deepika Padukone invested an undisclosed amount in the startup last year.
Blue Tokai recorded a revenue of INR 129 crore in FY23, while reporting a loss of INR 42 crore during the same period. The coffee chain operates more than 100 outlets across Delhi-NCR, Mumbai, Bengaluru, Hyderabad, Kolkata, Chandigarh, Mohali, and Pune.
Investors have been showing keen interest in the coffee market. Recently, Subko, a specialty coffee roaster and craft bakehouse, secured USD 10 million in funding from Zerodha co-founder Nikhil Kamath, Blume Founders Fund, The Gauri Khan Family Trust, and actor John Abraham.
abCoffee, a food service company, successfully raised USD 3.4 million in a Series A round, with Nexus Venture Partners and Tanglin Venture Partners taking the lead.
Last year, Bengaluru-based Third Wave Coffee, another significant player in the specialty coffee industry, secured USD 35 million in funding. The investment came from private equity firm Creaegis and existing investors, including WestBridge Capital and Udaan co-founder Sujeet Kumar. This round of funding reportedly valued the firm at approximately USD 150 million.
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