Despite the open import policy, tur dal prices have risen by over 10% in less than a month. The pulse processing sector has alleged that raw tur is in short supply for conversion into tur dal.
Despite the government suspecting hoarding by importers, the Indian Pulses and Grains Association (IPGA) trade body has attributed the recent surge in tur dal prices to hoarding by exporting countries and Gujarat’s procurement of tur dal.
Tur prices in the Latur market have surged from INR 102-104/kg to INR 115-117/kg within a month, marking an increase of approximately 12%. Retail consumers are now shelling out INR 160-200 per kilogram of tur dal.
According to the processing industry, the recent price hike is attributed to a shortage of raw material, specifically the whole unprocessed tur beans, which are split into dal at mills, as well as the elevated prices of imported tur.
Suresh Agarwal, chairman of the All India Dal Millers Association, highlighted, “Domestic tur production is notably lower this year, particularly in Maharashtra and Karnataka. The import policy should enable pulse processors to directly import pulses instead of relying solely on import houses.”
Despite India permitting unrestricted import of tur dal, Rupesh Rathi, a pulses processor from Akola in Vidarbha, remarked, “Throughout this year, the prices of imported tur have consistently stayed high since the start of the import season. Additionally, we are encountering a shortage in tur availability for dal production.”
Industry representatives anticipate a further increase in prices until the end of April, with consumers potentially experiencing some relief thereafter.
Hindustan Unilever Ltd., the largest consumer company in the world’s most populous nation, has been providing everyday products from detergent to instant coffee to Indians for decades. Now, it finds its fortunes flagging as an increasingly sophisticated consumer class with disposable incomes demands more. The Indian unit of Unilever Plc is battling a slowing rate of growth in revenue and profits while its share price is lagging.
The discerning tastes of India’s affluent are driving the thriving popularity of organic personal-care brands, propelled by polished social media marketing strategies. The emergence of players like homegrown newcomer Honasa Consumer Ltd, alongside the advancing presence of global giants like Estee Lauder Companies Inc. and Clinique Laboratories LLC, is compelling Hindustan Unilever to increase investments in both product innovation and promotional efforts.
The hurdles faced by the company echo those encountered by fellow consumer-goods behemoths like Procter & Gamble Co., L’Oreal SA, and its London-based parent company. These industry leaders have found themselves compelled in recent years to acquire niche brands that have been eroding market share from their own in-house offerings.
“In simple terms, larger companies such as Hindustan Unilever tend to move and strategize at a slower pace compared to the newer, more agile brands,” remarked Arvind Singhal, chairman of consulting firm Technopak Advisors Pvt.
“The influence of major brands is dwindling steadily as challenger brands emerge across all price ranges. These newcomers provide retailers with better margins, enticing local shopkeepers to give them a try,” he added.
Hindustan Unilever declined to comment, stating that it is in an earnings quiet period.
Redseer Management Consulting Pvt. estimates that India’s personal-care sector will grow from $20 billion in 2022 to a projected $33 billion market by 2027.
As the producer of Dove soaps and Magnum ice cream, the competition for affluent clientele intensifies, necessitating price reductions for its most economical brands. This adjustment comes in response to reduced spending among rural consumers with lower income levels.
This situation is putting pressure on the company from both directions, a position often regarded as indicative of consumer spending trends in India, given the widespread availability of its household products across the nation.
The company’s revenue grew by 3% in the first nine months of the fiscal year that ended in December, which is a considerable decrease from the 17% growth that was seen in the corresponding period of the prior year. Similarly, net profit declined, increasing by only 4% to 77 billion rupees for the nine months that ended on December 31 as opposed to the 14% growth that was recorded in the corresponding period of the prior year.
The consumer products manufacturer spent a total of 48 billion rupees ($576 million) on advertising and promotional costs from April to December, up from 36 billion rupees in the same time of the previous fiscal year.
During January, Emkay Global Financial Services Ltd. and Centrum Broking Pvt. revised down their earnings forecasts for Hindustan Unilever. The brokerages expressed concerns that profit margins would be squeezed further as the company is compelled to allocate additional resources to compete against new brands in the premium segment.
The company has long enjoyed the advantages of its well-established supply chain network, effectively stocking shelves in both neighborhood convenience stores and large supermarkets throughout the country.
However, according to Nitin Gupta, an analyst at Emkay Global, niche competitors who sell directly to consumers online bypass the traditional distribution network.
Gupta pointed out, “Even when HUL does introduce a premium product, they tend to be tardy in reaching the market. Their innovation hasn’t kept pace with consumer demands.”
Since the beginning of this year, the stock has declined by 15%, trailing behind the 4.5% decrease seen in the broader index of consumer stocks in India. Conversely, the market benchmark, S&P BSE Sensex, has shown gains in 2024.
According to Vidushi Agrawal, an independent brand consultant situated in Mumbai, Hindustan Unilever is encountering difficulties in introducing new products in the premium segment that generate market excitement.
Its modern competitors are targeting specific demographic segments—such as youth or new parents—and leveraging social media influencers to promote their brands.
Hindustan Unilever’s personal-care brands like Simple or Love, Beauty and Planet, which were introduced a few years back, are only now beginning to gain traction on social media. However, each of these brands has accumulated fewer than 92,000 Instagram followers, for instance. In contrast, Mamaearth, a personal-care brand by newcomer Honasa Consumer, boasts over 1.3 million followers on the platform.
Karthik M, an accountant from Mumbai, mentioned that he now tends to pass over most HUL items on store shelves. When shopping for personal grooming products, he prefers those from Bombay Shaving Co. and Beardo, which is backed by Marico Ltd.
“I extensively research the science behind shampoos and soaps and carefully select the chemicals I want on my face,” he explained. “Apart from Pears soap, I refrain from purchasing any other hair and beard products from Unilever’s India unit.”
In the past two years, Hindustan Unilever has launched numerous new body care products. Additionally, in December, the company divided its personal care division into two separate entities to enhance specialized marketing efforts.
During a January conference call with analysts, Hindustan Unilever Chief Executive Officer Rohit Jawa stated that over 80% of the company’s product lines are either experiencing growth or maintaining their brand identity among consumers.
According to a statement from the company, the premium beauty business segment, which was founded three years ago, brings in over a billion rupees in recurring revenue annually. The unit’s profit isn’t disclosed, though.
Nevertheless, the company’s struggle to uphold its longstanding dominance over Indian consumers appears poised to escalate. Laxmichand Gada, owner of Mumbai retail chain Society Stores, noted that agile competitors are providing shoppers with greater variety and retailers with increased profits.
Because of this, he’s choosing to stock more niche domestic and international brands on his shelves and less Unilever personal care goods.
Majority of the protein powders leading the market in India fall short in terms of quality, accuracy in labeling, or fulfillment of advertised claims, as revealed by a first-of-its-kind observational analysis.
Last week, a peer-reviewed journal, Medicine, published the results of an analysis conducted on 36 various brands of protein powders. These brands included products containing herbal and dietary supplements like vitamins, minerals, and other natural or synthetic ingredients.
Protein supplements serve as concentrated sources of high-quality protein derived from various food sources. They are commonly utilized in bodybuilding and as dietary supplements to meet protein requirements, offering a lean and pure source of essential amino acids, which are the fundamental building blocks of proteins.
The study revealed that almost 70 percent of the 36 supplements examined provided inaccurate protein content information, with certain brands delivering only half of the claimed amount. Additionally, approximately 14 percent of the samples contained harmful fungal aflatoxins, while 8 percent showed detectable levels of pesticide residue.
Additionally, the authors — clinical researchers linked with Rajagiri Hospital in Kerala and a technology entrepreneur from the US — highlighted that “the majority of Indian-made herbal protein-based supplements are of substandard quality and contain botanicals that are harmful to the liver.”
“The findings highlight the need for rigorous scrutiny, regulation, & fundamental safety assessments before allowing the sale of protein-based herbal & dietary supplements,” said the authors.
Dr. Cyriac Abby Philips, a hepatologist at Rajagiri Hospital in Aluva, Kerala, and the lead investigator of the self-funded study, emphasized that despite existing published data from numerous research groups and clinical units worldwide concerning organ damage, particularly liver injury caused by herbal and dietary supplements, there has been a lack of proactive and prospective analysis of widely used supplements — especially protein-based ones — in the published literature.
“There are sporadic published reports examining the quality of whey protein and amino acid analysis in protein supplements, aiming to detect amino acid spiking or ‘doping’ to artificially inflate protein content,” he stated.
Philips further noted that a study examined the adherence of marketed protein supplements to quality regulations, primarily focusing on products sold in the US. However, there have been no comparable studies conducted in the Asia Pacific region.
“Our research highlights the lapses in regulatory efforts, highlights the importance of consumer rights in accessing transparent information to make well-informed decisions about safe food as well as supplement options, and reveals the general indifference of the medical community towards educating the public about the potential benefits versus risks of food as well as dietary supplements,” he stated.
Efforts to reach G. Kamala Vardhana Rao, Chief Executive of the Food Safety and Standards Authority of India (FSSAI), for comments on the findings outlined in the paper were made via phone calls. Nevertheless, no response had been received as of the time of publication.
Responding to an inquiry in the Lok Sabha in August last year, Union Health Minister Mansukh Mandaviya informed the Lower House that during the fiscal year 2022-23, the Food Safety and Standards Authority of India (FSSAI) lodged a total of 38,053 civil cases and 4,817 criminal cases pertaining to non-conforming food samples, which included protein powders and dietary supplements.
The 36 analyzed protein powders comprised blended formulations, pure plant-based options, and pure whey-based formulations (derived from whey, the liquid portion of milk that separates during cheese production).
The blends encompassed various combinations of proteins or those supplemented with herbal extracts.
Among the 14 blended formulations, seven incorporated herbal extracts, while the remaining consisted of diverse protein sources, including pea, soy, egg, milk (whole, whey, or casein), and peanuts.
Four products were exclusively plant-based, while 18 powders were either pure whey-based or blends of whey (comprising concentrate, hydrolysate, and isolate).
Twenty products originated from India, while the remainder were produced by multinational corporations.
Among the 36 products, nine exhibited a detected protein content of less than 40 percent, while the remaining had levels surpassing 60 percent. In total, 25 protein supplements (69.4 percent) were mislabeled regarding their protein content. This discrepancy ranged from less than 10 percent to over 50 percent deficit compared to the advertised product content per 100g.
Two products from a single manufacturer exhibited protein contents that were 62 percent and 50.4 percent lower than advertised. Additionally, a commonly recommended protein supplement from a reputable company also misrepresented its protein content, showing an approximate deficit of 30 percent compared to what was advertised.
Furthermore, as per the authors’ observations, specific protein brands were identified to contain higher protein content than what was indicated on their labels during the quantification analysis.
The researchers pointed out that elevated protein content could indicate the use of high-quality protein sources in manufacturing. However, it could also be indicative of “protein or amino spiking,” wherein supplement manufacturers deliberately incorporate less expensive protein components like readily available amino acids glycine and taurine to falsely portray higher protein content.
In the analysis of fungal toxins, it was discovered that five out of 36 samples (13.9 percent) were tainted with aflatoxins, toxins produced by specific fungi. In several instances, the aflatoxin levels exceeded 10 μg/kg. Regarding pesticide residue analysis, three samples (8.3 percent) were found to contain trace amounts of contamination.
Philips conveyed via social media that, according to these findings, the protein powder from BigMuscles was deemed the “poorest brand,” while Amway’s offering was identified as the “least favorable among plant-based options.” Furthermore, Philips categorized Protinex, Ensure, and B-Protin as the “most disappointing brands advertised as superior.”
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He additionally cautioned that brands requiring extreme vigilance include Elements and Nutrilite by Amway, due to their contamination with fungal toxins.
Efforts were made to contact the manufacturers of these powders (Big Muscles Nutrition, Amway, Nestle, Abbott, Danone India, and British Biologicals) via email to obtain their comments on the findings. However, no responses were received from any of them by the time of publication.
According to the findings, Philips identified One Science Nutrition as the “top-rated” whey brand in the Indian market, while Nutrabox’s protein supplement was deemed the “most favorable medium-range” whey option. The analysis also concluded that the protein powder from Origin stood out as the “premier choice” among vegan protein options.
The study underscores that, akin to the United States Food and Drug Administration, the FSSAI does not grant approval for herbal and dietary supplements but instead oversees adherence to good manufacturing practices.
According to the study’s authors, manufacturers are responsible for ensuring the safety of the ingredients in protein-based herbal and dietary supplements. However, the scrutiny of content and labeling is conducted by the FSSAI based on test results submitted by the manufacturer. These results are not disclosed to the public and remain non-transparent.
“Our study has significant impacts,” said Philips. First and foremost, when it comes to food and dietary supplements, regulatory agencies need to put an emphasis on accountability and openness. These products are not rigorously tested for safety or efficacy, unlike pharmaceuticals and medications.”
The sole criterion that deems such products “market-ready” is adherence to good manufacturing practices, elucidated the hepatologist and medical researcher. Furthermore, the manufacturers cannot be relied upon, as they often prioritize profit and promotional endeavors over ensuring realistic quality standards.
For instance, he pointed out that the recent analysis revealed discrepancies between the labeled protein content and the actual content identified in numerous brands, with indications of “protein spiking or amino acid doping” present in some of the brands examined.
“In the absence of regulatory oversight in such scenarios, it essentially becomes a ‘survival of the fittest’ situation for buyers when choosing a food supplement,” he said. “This absence of regulation is both unfair & hazardous.”
Dr. Sabine Kapasi, an adviser on public health and healthcare services strategy with the United Nations Covid-19 task force, who is not directly affiliated with the study, also concurred that it highlights the pressing necessity for enhanced regulations and quality control in the manufacturing and labeling of protein supplements.
“It emphasizes the significance of providing transparent and precise product information, empowering consumers to make informed choices regarding their health,” she remarked.
Kapase further noted that the Supreme Court’s issuance of a contempt notice to the ayurvedic conglomerate Patanjali for persistently disseminating misleading advertisements underscores the imperative for rigorous accountability within the health supplement sector.
“These findings highlight growing concerns about false information, a lack of openness, and possible health risks related to these goods. It is imperative that we as customers continue to be aware of these issues and use caution when choosing protein supplements, she said.
Kapase emphasized that although protein supplements can provide benefits when used appropriately, the findings of the study underscore the pressing necessity for heightened scrutiny and regulation within the industry.
Varun Berry, Vice-Chairman and Managing Director of Britannia Industries
Fast-moving consumer goods (FMCG) have observed a marginal uptick in sales volume growth, as highlighted by Varun Berry, executive vice-chairman and managing director of Britannia Industries, India’s largest biscuits maker. However, Berry cautioned that several extraneous factors could potentially impact the future demand outlook. “We constantly monitor input costs & competitive pricing activities in order to take appropriate decisions,” he said in a recent interview.
On Tuesday, Skymet, a private forecasting agency, forecasted a regular monsoon for the year ahead. This announcement has boosted hopes for agricultural productivity and rural consumption, both pivotal for the continuous growth of the FMCG sector. The previous year witnessed inconsistent monsoon patterns, characterized by below-average or erratic rainfall. Given that rural areas in India account for approximately 40% of annual FMCG sales, a normal monsoon is crucial for sustaining market vitality.
“A regular monsoon will be a boon for the rural economy, which has lagged behind urban growth for more than a year,” Berry remarked. He warned about the potential impact of variable rainfall across different regions on crop yields. Britannia’s product portfolio predominantly caters to urban areas and is 1.3 times larger than its offerings aimed at rural consumers. Alongside popular biscuits like Good Day, Jim Jam, and NutriChoice, the company, promoted by Nusli Wadia, also manufactures a range of products including cheese, croissants, cakes, and bread.
Companies are also banking on the upcoming Lok Sabha elections, set to begin next week, to stimulate demand, anticipating an increase in market liquidity.
“Political stability and the government’s ongoing investment in both digital and physical infrastructure over the years bode well for the economy,” Berry said. “We expect an upward trend in spending as elections approach.” Britannia has dramatically increased its capacity in recent quarters, utilising a mix of new greenfield facilities and additional production lines in existing factories. Berry underlined that these investments put the company in a solid position to handle any sales increase.
He stated, “Our commitment remains steadfast in innovating and investing in our brands to stimulate demand in crucial categories and regions, all while maintaining a keen eye on cost efficiencies.”
Nonetheless, controlling inflation will also be pivotal for stimulating demand, as companies navigate between safeguarding margins while facing competition from lower-priced regional competitors, particularly in categories like biscuits, tea, and laundry.
Berry noted that due to government interventions aimed at enhancing price accessibility, sugar prices are anticipated to remain stable. However, certain other commodities essential to Britannia’s operations continue to face inflationary pressures. “Considering the average wheat crop & lower-than-normal govt buffer stocks, we expect inflation in flour prices,” he went on to say. Despite significant fluctuations in cocoa prices, the company’s reliance on cocoa remains limited.
In the March quarter, companies reduced prices to reflect the easing of some commodity costs, although these costs have reverted to inflationary trends in April.
Britannia’s consolidated net profit fell by 40.4% year-on-year to INR 555.6 crore for the December quarter, primarily due to subdued rural demand and price adjustments made to counter regional competitors. Additionally, its fiscal third-quarter profit declined, influenced by a one-time gain in the corresponding quarter of the previous year. Despite this, FMCG companies have observed signs of recovery in sales of essential daily items and staples in Indian villages during the March quarter. This resurgence follows a period of sluggish performance throughout most of last year, attributed to increased food and fuel prices, as well as erratic rainfall affecting demand in rural areas.
Swiggy, a leading player in food delivery and quick commerce, has introduced a ‘Paw-ternity’ policy to support employees with pet care and adoption.
“We are expanding our concept of parenthood to encompass pet parents as well,” said Girish Menon, Chief Human Resource Officer at Swiggy. “We are building upon our gender-neutral parental policy introduced in 2020, that offers significant paid leave for both primary and secondary carers, along with bonding leaves as well as time off for adoption, surrogacy, miscarriage, and IVF.” We are therefore happy to announce the Swiggy Paw-ternity Policy, which is effective immediately for all full-time staff.
As per the policy, employees will be granted an extra paid day off, beyond their annual leave allowance, to celebrate the arrival of their new furry friends at home. This initiative coincided with National Pet Day, observed on April 11th.
In a blog post, Menon expressed, “Pet parents have the option to work from home during the settling-in period to offer comfort and support to their newest family member.”
Furthermore, pet parents are encouraged to utilize their casual or sick leave without reservation to tend to their pets’ needs. “Whether it’s for a routine vaccination or accompanying a sick or injured pet to a veterinary appointment, the policy empowers employees to take the necessary time off to care for their beloved companions,” Menon emphasized.
Swiggy will additionally provide bereavement leave for pet parents, offering employees the necessary time to mourn and recuperate from their loss.
The Tata Group‘s superapp, Tata Neu, has launched its services in the food and beverage segment on the government-backed Open Network for Digital Commerce (ONDC). This pilot program encompasses over 540 pin codes in Delhi-NCR and 264 pin codes in Bengaluru.
The superapp made its debut less than a month ago, with magicpin as its technology service provider.
They also intend to expand to additional cities in May, according to sources. ONDC currently includes two Tata enterprises as sellers: the StarQuick grocery app and the online grocer BigBasket.
Neu, operating within Tata Digital, the conglomerate’s ecommerce division, marks the first consumer app from the diverse conglomerate to join ONDC.
Other buyer apps within the food and beverage category include magicpin, Mystore, Novopay, NStore, Pai Platforms, pincode, and Spicemoney.
Reports indicated that ONDC received 5,777,231 food and beverage orders between April 2023 and March of this year. In March alone, food and beverage orders made up 9.55% of the total monthly orders, which amounted to 7.68 million on ONDC.
Requests for comment went unanswered by Tata Digital, magicpin, and ONDC.
Although Tata Neu has been involved in segments such as grocery, medicines, electronics, fashion, money, payments, and travel since 2022, it lacked a significant presence in the food and beverage category. Its entry into ONDC is aimed at bolstering its position in this sector.
At present, ONDC boasts approximately 105,000 sellers operating outside the retail sphere, with the food and beverage sector holding a significant portion of this share.
Reports indicate that in its first year of operation, Neu, which encompasses electronics, grocery, and e-pharmacy, has struggled to establish robust consumer loyalty.
However, according to sources, Neu is unlikely to incorporate additional categories such as grocery onto ONDC. This decision stems from the potential competition it would pose to Tata group’s BigBasket and StarQuick grocery apps already present on ONDC.
Tira, a brand under Reliance Retail, announced its entry into the beauty accessories space on Thursday with the launch of its in-house brand ‘Tira Tools’.
The company emphasized in a statement that this new venture marks the launch of its first in-house brand.
“We’re excited to unveil Tira Tools! Whether you’re a beginner or an expert, these essentials have got you covered—you can sculpt your face, create a stunning contour, and master the perfect cut crease,” stated the company in an Instagram post.
Tira Tools will offer a variety of beauty accessories such as brushes, face rollers, beauty sponges, and a diverse array of other products within the category. The company highlighted that the new brand will serve both beauty enthusiasts and professional makeup artists.
Tira intends to retail the “cruelty-free and vegan” accessories brand through both online channels and its physical stores.
The beauty ecommerce platform introduced its first proprietary brand almost a year after Tira went live in April last year. Since then, the Indian beauty ecommerce space has seen cutthroat competition as incumbents and new entrants both vie for a bigger pie of beauty shoppers.
Fueled by the rising purchasing power of Indian consumers and the continuous growth of ecommerce, the beauty and personal care industry in India has experienced significant growth in recent years. This surge has propelled established players like Nykaa, as well as startups such as SUGAR and Purplle, into prominence.
At the same time, conglomerates such as Tata and Reliance have their own brands vying for market share in the beauty and personal care sector.
According to a report, the Indian beauty and personal care (BPC) industry achieved a market size of $26.3 billion in 2022 and is expected to surge to $38 billion by 2028.
One in two Indians are favoring premium spirits, as per Bacardi India managing director Vinay Golikeri, citing the Bacardi Cocktail Trends Report 2024. Golikeri emphasized that “Premiumisation continues to flourish, and currently we are into the golden era of spirits given that the cocktail culture is thriving in India.”
The producer of Bacardi rum, Bombay Sapphire gin, Grey Goose vodka, and Dewar’s Scotch is ramping up its premiumization efforts across its range to align with evolving demand patterns, he elaborated.
Golikeri described India as a “standout” market for the multinational alcohol and beverage manufacturer. However, he refrained from disclosing the specific contribution of Bacardi’s Indian division to its global sales. As per the most recent data from the business intelligence platform Tofler, Bacardi India reported revenue surpassing INR 500 crore for the financial year that ended on March 31, 2023.
Just like in other consumer-focused industries, companies in the spirits sector like Diageo, United Spirits, Radico Khaitan, and Jagatjit Industries are also prioritizing premiumization to capitalize on the increasing demand for greater profitability.
As per the Confederation of Indian Alcoholic Beverage Companies (CIABC), alcoholic beverages priced above INR 1,000 experienced a growth rate four times faster than those priced under INR 500 in the calendar year 2023. Vinod Giri, the director-general of CIABC, attributed this rising trend of premiumization to a blend of factors. “Consumers are increasingly open to exploring different alcoholic beverages, and notably, the perception of spirits is shifting from mere functionality to embodying a lifestyle choice or a means of making a statement,” he remarked.
In a March report, credit ratings agency ICRA projected growth of 8-10% for the Indian alcoholic beverages sector in the current financial year. This growth, it noted, would be bolstered by consumer inclination towards premium products, with volumes expected to increase by 3-5% on a strong foundation.
Over the last three to four years, Scotch whisky sales in India have nearly quadrupled, according to Vijay Dev, the category lead for whiskies at Bacardi. He emphasised Dewar’s outstanding achievement in the Scotch whisky market in India, pointing out that the company’s volume has grown by an astounding 44.2% in the previous five years, above industry norms.
He added, “India offers us a significant growth potential, considering the increasing preference for premium Scotch whisky.”
The executives at Bacardi India refrained from commenting on the implications of the government’s recent directive, which requires alcohol manufacturers to provide a list of products marketed as surrogate extensions, including water, soda, and music festivals.
Spirits manufacturers promote and market products such as water, music festivals, music CDs, and soda to bypass regulations on advertising spirits. The CIABC has called on the government to reconsider its crackdown on this practice. Like other alcoholic beverage companies, Bacardi also heavily invests in events and platforms like NH7 Weekender and Xperiences to attract consumers.
The Central Consumer Protection Authority (CCPA) has instructed spirits manufacturers to disclose lists of products promoted under the same brand or as alternatives to alcoholic beverages over the past three years. Additionally, the authority has mandated these companies to provide details regarding the revenues generated from the sale of surrogate brand extensions during this three-year period.
Rasna, a homegrown beverage brand, derives about 20 percent of its business from its new generation portfolio, as shared by Piruz Khambatta, Group Chairman of Rasna Group.
Khambatta said, “The new-gen portfolio, that we launched post Covid, accounts for 15-20% of our business. However, the conventional portfolio continues to dominate, accounting for 80%. This is simply because mass items generate volume.”
Speaking about the consumer trend towards healthier options, he remarked, “At Rasna, unlike many other Indian brands, we’ve always been at the forefront of innovation, introducing numerous pioneering products. Rasna holds the distinction of being the first brand to introduce stevia-based products free from artificial colors and flavors.”
Sharing his insights on the anticipated demand in response to hot summer projections, he emphasized that for any soft drink company specializing in dilutables, the duration of the heat wave outweighs its intensity in importance.
“During the season, we have just one opportunity each month. Last year, from January to April, demand was robust, causing shortages. Yet, come May, early rains completely disrupted operations, leaving the industry with unsold inventory.”
Regarding Rasna’s readiness, he remarked that the company’s prowess lies in its strong R&D department, the emotional bond consumers share with the brand, and its robust distribution network spanning direct and indirect distributors across 2,000 small towns.
As summer approaches, Rasna unveiled a fresh advertising campaign featuring actress Tamannaah Bhatia. Discussing the company’s advertising strategy for the upcoming fiscal year, Khambatta revealed that marketing expenditures will surpass last year’s, with a stronger emphasis on digital marketing initiatives.
Indri Single Malt Whisky, meticulously crafted by Piccadily Distilleries, has set a new standard in the spirits market, emerging as the fastest-growing single malt whisky globally. Within a mere two years since its debut, Indri-Trini has soared past the remarkable milestone of selling over 1 lakh cases, capturing a substantial 30 percent market share in India and outshining even established global giants.
Indri-Trini’s remarkable surge, with a remarkable 599 percent leap from the previous year, has catapulted it into the esteemed ranks of the world’s best-selling single malt whiskies. Fueled by this monumental achievement, Piccadily Distilleries now sets its sights on joining the top 5 selling single malt whiskies globally, as it persistently reshapes industry norms.
Since its debut in November 2021, Indri Single Malt Whisky has amassed more than 25 prestigious awards on the global platform. These accolades include esteemed titles like ‘Best Indian Single Malt’ from renowned events such as the World Whisky Awards and the International Whisky Competition. Particularly noteworthy is its Diwali Collector’s Edition, which secured the highly coveted accolade of ‘Best Whisky In The World’ at the Whiskies of the World Awards, surpassing esteemed competitors from Scotch and American distilleries.
This remarkable feat not only enhances the brand’s reputation but also strengthens the global appreciation for Indian whiskies, sparking a notable increase in demand for high-quality Indian single malts. The rapid ascent of Indri mirrors a noteworthy change in consumer inclinations, with premium spirits taking the forefront.
Industry statistics indicate that in 2021–2022, Indian single malt whiskies increased by a remarkable 144%, much outpacing their Scottish counterparts. According to initial projections provided by the Confederation of Indian Alcoholic Beverage Companies (CIABC), the share of Indian single malts in total sales in 2023 was an astonishing 53%, showing a notable shift in the spirits market.
Praveen Malviya, CEO of Piccadily Distilleries, stated, “In a market previously dominated by imported brands, Indri emerges as a symbol of Indian excellence, epitomizing national pride and enhancing the reputation of Indian spirits worldwide. Indri isn’t merely taking the lead; it’s spearheading a revolution.”
As Indri continues to set new standards for Indian single malt whisky, Piccadily Distilleries remains steadfast in its dedication to pushing limits, venturing into uncharted territories, and providing extraordinary experiences to whisky aficionados across the globe.
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