Rebel Foods to boost Oven Story Pizza’s reach with 250+ franchise outlets

April 10, 2024

Rebel Foods, known for its network of cloud kitchens and digital brands, is making a significant investment in the offline channel. Having achieved unicorn status in 2021, the company is growing its leading brand, Oven Story Pizza, through franchising in the offline market. This strategic decision aims to capture a larger market share in the rapidly expanding pizza sector and challenge global pizza chains in the region.

Ankit Jindal, the Business Head at Rebel Foods, stated, “Franchising is a key initiative we are prioritizing this year. Our goal is to establish Oven Story Pizza as a leading brand in its category, and we are accelerating its offline expansion to achieve this. We plan to launch 250-300 outlets over the next 2-3 years, which we believe is a significant milestone to compete effectively with global chains.” The company is also recognized for its brands such as Faasos, Behrouz Biryani, Mandarin Oak, and Firangi Bake, among others.

Continue Exploring: Pizza Hut ramps up expansion in India, targets younger demographic with new menu offerings

He further mentioned that the franchising model aligns perfectly with the brand’s current stage and will also facilitate the company’s access to a network of similarly minded individual entrepreneurs.

“Our emphasis will be on launching these stores in tier-2 and tier-3 cities. We see immense untapped potential in these areas. As disposable incomes rise and consumer awareness increases, people in these markets are increasingly spending on dining out and ordering food. There’s also a growing preference for national food brands, and consumers are open to trying new offerings. From a real estate cost standpoint, we believe our franchise partners will find profitable opportunities in these markets,” added Jindal.

In 2024, the company plans to launch 40-50 offline outlets for the brand.

Continue Exploring: Rebel Foods joins ONDC to expand D2C presence and enhance consumer reach

The company is optimistic about the pizza category. Jindal highlighted that in recent years, the category has gained momentum in tier 2, 3, and 4 markets, with numerous local brands emerging and attracting more consumers to the category.

Discussing the growth trends for FY24, Jindal stated, “We have seen robust year-over-year growth across our 75 locations, spanning Tier-1 and Tier-2 markets in India and the UAE. The EatSure Food-Court App has played a key role in driving this growth by catering to consumers’ needs for multiple restaurant options in one order.”

Rebel Foods is also the exclusive franchise holder for the American fast-food brand Wendy’s in India.

We are also growing Wendy’s offline presence. In Delhi-NCR, we now operate three to four restaurants, and we’re working on opening a few more,” Jindal continued.

Continue Exploring: Rebel Foods unveils Wendy’s first airport dine-in store in Bengaluru

Nissin Foods shakes up Cup Noodles lineup with bagel-inspired flavor!

SnackTeam

April 9, 2024

Nissin Foods has diversified its Cup Noodles portfolio with the introduction of bagel-inspired noodles.

The Everything Bagel variety merges noodles with sesame, poppy, and caraway seeds, garlic, and dried onion in a cream cheese-flavored sauce, creating a ramen dish with a saucy texture rather than a soup-based one.

Continue Exploring: Nissin Foods takes ramen to the next level with Hot & Spicy Fire Wok Chili-Infused Noodles

Priscila Stanton, Nissin Foods’ senior vice president of marketing, expressed, “We’re aware that noodle enthusiasts and food aficionados are always seeking innovative ways to enhance their instant ramen with diverse sauces, seasonings, and unexpected elements. In particular, consumers have been incorporating Everything Seasoning into their ramen since its popularity surged, and we drew inspiration from our consumer base to infuse everyone’s beloved noodles with a creamy twist.”

The Everything Bagel with Cream Cheese flavor is currently on offer for a limited period at Walmart outlets, priced at $1.18.

Continue Exploring: FMCG giants spice up instant noodle portfolios as Indian consumers crave K-noodles

Froneri expands Oreo ice cream line with new mini bites

SnackTeam

April 9, 2024

Froneri has introduced its latest ice cream creation, Oreo Mini Bites, under the Oreo brand.

With a twist on the classic Oreo sandwich cookie, these new bite-sized treats are perfect for those with hectic schedules and on-the-move convenience.

Each cup of Oreo Mini Bites features 14 bite-sized pieces, consisting of vanilla-flavored ice cream wrapped in a crushed Oreo biscuit crust.

Continue Exploring: Oreo expands line-up with gluten-free and NYC-inspired cookie flavors

Shreen Nobbel, the brand manager at Froneri UK, said, “After witnessing remarkable growth in the Oreo ice cream line, with the range expanding by 76% in recent years, we were inspired to introduce the new Oreo snacking mini bites. We recognize the large number of Oreo ice cream enthusiasts out there, and these Oreo mini bites are designed as a convenient on-the-go snacking option, sure to delight Oreo fans.”

This marks the newest addition to Froneri’s lineup of innovations. In February, the company introduced new Nuii ice cream flavors, followed by the launch of new Häagen-Dazs ice cream bars in January, and last year saw the debut of Häagen-Dazs Butter Cookie Cones.

Oreo Mini Bites are now available for purchase at UK retailers, priced at £2.50 per cup.

Continue Exploring: From Olipop to Oreo: Brands roll out retro-inspired products to tap into consumer nostalgia, says GlobalData

Plamil Foods unveils world’s first chocolate bar made from coffee beans

SnackTeam

April 9, 2024

Plamil Foods has introduced the world’s first chocolate bar crafted from coffee beans.

The Coffee Bar, made from whole coffee beans instead of cocoa beans, has a silky feel similar to chocolate.

Utilizing a distinctive production method that involves meticulously selected beans roasted in small batches, each bar encapsulates the rich flavors of the coffee beans. The company notes that the introduction of The Coffee Bar aligns with an uptick in chocolate prices and global cocoa bean shortages.

Adrian Ling, CEO of Plamil Foods, remarked, “No one has ever done this before – the exceptional taste and silky texture are a result of our unique production method. It took a year of dedicated development, but we’ve finally mastered the recipe for crafting a coffee bar.”

Continue Exploring: Global cocoa supply shortage pushes Cadbury and major chocolate brands to consider price hikes

He added, “Turning coffee into a bar may seem like a novel idea, but it actually makes a lot of sense when you consider the evolution of chocolate. 175 years ago, chocolate was primarily consumed as a drink until Frys of Bristol introduced the chocolate bar.”

“We understand that The Coffee Bar won’t be replacing everyone’s traditional cup of coffee overnight. However, this barista-quality snack is designed for on-the-go individuals who crave coffee enjoyment anytime, anywhere. We’re confident that it has the potential to fulfill consumer demands and tap into the global billion-pound coffee market.”

The Coffee Bar will debut at the London Coffee Festival from April 11-14 and will also be showcased at the Food & Drink Expo from April 29-May 1.

The bar is anticipated to become accessible to customers in the UK shortly, making appearances at service stations, outdoor sports venues, and conventional retail outlets.

Continue Exploring: Planet A Foods raises $15.4M in Series A funding to expand global reach of innovative cocoa-free chocolate, ChoViva

Uber Eats introduces TikTok-style videos for restaurants to enhance user experience and boost food orders

SnackTeam

April 9, 2024

Uber Eats, the food delivery platform, has evolved beyond just delivering food. Now, users can also watch videos on the app. The platform is introducing a new feature that allows restaurants to share short videos, similar to those found on TikTok or Instagram.

These videos will be featured in various sections of the Uber Eats app. So, when users are browsing for meal options, they might come across a captivating video of a restaurant preparing a delicious dish and be inspired to place an order.

The aim of this new feature is to immerse users in the restaurant experience, letting them watch chefs prepare dishes and igniting excitement to try new foods. Awaneesh Verma, an employee at Uber Eats, informed TechCrunch that preliminary tests indicate people are more inclined to order unfamiliar dishes after viewing these videos. Even minor details, such as seeing the appearance of a dish or understanding its portion size, can pique interest and encourage users to give it a try.

Many other apps, such as Instagram, YouTube, and Snapchat, have incorporated TikTok-like features due to the current popularity of short videos. Even LinkedIn, primarily known for professional networking, is experimenting with a video feed. Therefore, it’s understandable that Uber Eats aims to capitalize on this trend.

Continue Exploring: Uber Eats introduces live location sharing to facilitate seamless deliveries

Restaurants often share videos on social media platforms to attract new customers and showcase their dishes. Allowing them to do the same directly within the Uber Eats app simplifies the process for users to discover new dining options without exiting the app. While some may feel overwhelmed by the influx of apps featuring short videos, Uber Eats believes it will assist people in discovering new and delicious foods they’ll enjoy.

Currently, Uber Eats is piloting this feature in select cities: New York, San Francisco, and Toronto. However, if successful, they intend to roll it out globally. Restaurants won’t incur additional charges to display their videos within the app. Uber emphasizes that these videos are not treated as advertisements; rather, they offer a creative avenue for restaurants to showcase their dishes.

Celebrity Chef Akshat Parihar joins Starshine Brands as brand ambassador

SnackTeam

April 9, 2024

Starshine Brands, a premier hospitality company committed to offering Indians the best in European, Indian, and Mediterranean cuisine, is excited to welcome Celebrity Chef Akshat Parihar as its brand ambassador. Renowned worldwide for his culinary skill and creativity, Chef Akshat brings extensive experience and innovation to the Starshine team.

Originally from Rajasthan, Chef Akshat Parihar has made a name for himself in the culinary world through his exceptional skills and deep passion for food. With an impressive portfolio that covers over 18 cuisines, Chef Akshat is renowned for skillfully combining international flavors with his own distinctive twist. His innovative dishes, such as the introduction of Exquisite Savoury Mousse Cocktails, have received widespread acclaim, earning him the title of “Molecular Gastronomic.”

Shweta Gupta, Executive Director of Starshine Brands, said, “Chef Akshat Parihar’s collaborative spirit and dedication to pushing the boundaries of culinary artistry have fostered partnerships with esteemed brands globally, solidifying his reputation as a culinary innovator. His zeal for crafting unforgettable dining experiences aligns perfectly with Starshine’s vision of enriching urban landscapes by providing a diverse range of cuisines and a splendid ambiance all under one roof.”

Continue Exploring: BigBasket teams up with Chef Sanjeev Kapoor to introduce frozen foods brand ‘Precia’, targets INR 100 Crore in online sales by 2026

“I am delighted to collaborate with Starshine Brands as their brand ambassador. Together, we aspire to reshape the culinary scene in India and offer food aficionados unmatched dining experiences. I am eager to contribute to Starshine’s mission of bringing gastronomic joy throughout the country,” expressed Chef Akshat Parihar.

Within the framework of Starshine Brands, celebrated for its commitment to offering Indians the finest European, Indian, and Mediterranean cuisine, there exists a collection of culinary gems. Among these distinguished brands are Chhupa Rustam and Ivoryy, each providing a unique dining experience that captivates the senses and honors gastronomic diversity. Chhupa Rustam charms guests with its blend of traditional and contemporary flavors, while Ivoryy radiates elegance and sophistication, showcasing a thoughtfully curated array of culinary delights. With a dedication to excellence and a zeal for innovation, these brands encapsulate Starshine’s mission to redefine India’s culinary landscape, one memorable dining experience at a time.

As Starshine Brands pursues its expansion endeavors, Chef Akshat Parihar’s culinary expertise and Sandeep Gupta’s vision will be instrumental in bolstering the company’s footprint in the hospitality sector.

Continue Exploring: Celebrated Chef Arvind Prasad continues as Callebaut’s ambassador in India

Reliance Retail launches 13th Pret A Manger store in India

SnackTeam

April 9, 2024

Reliance Retail has launched the 13th outlet of the UK-based fresh food and organic coffee chain, Pret A Manger, in India, as stated in a social media post by a company official. Situated at Delphi, Downtown Powai, Mumbai, this new store marks the eighth Pret A Manger location in the city.

Chandramohan Ramadasan, the business head of Pret A Manger at Reliance Brands Ltd., wroten in a LinkedIn post, “Pret’s latest store is now open for business in the vibrant heart of Powai. I’m thrilled to bring our dedication to freshly made food and organic coffee to this amazing neighborhood.”

This comes just a week after Reliance unveiled the 12th Pret A Manger store at the renowned Horniman Circle in Fort, Mumbai.

Continue Exploring: Reliance Retail unveils 12th Pret A Manger outlet in Mumbai’s historic Horniman Circle

In India, Pret A Manger stores presently provide an assortment of sandwiches, baguettes, salads, and soups, alongside an array of organic coffee, tea, shakes, and smoothie choices.

Pret A Manger has ventured into the Indian market through a partnership with Reliance Brands, the retail arm of Reliance Industries.

In April, Reliance inaugurated its first Pret A Manger cafe at Maker Maxity in Mumbai. Spanning 2,567 sq. ft., the outlet captures the essence of the brand’s iconic London stores. Subsequently, Pret A Manger launched its second Mumbai outlet at Phoenix Palladium Mall later in the same month.

Currently, the cafe chain operates stores in various cities such as Mumbai, Gurgaon, and Delhi.

Reliance Brands, a division of Reliance Retail Ventures Ltd., was founded in 2007 with the goal of introducing and expanding worldwide brands in the luxury to premium categories of the fashion and leisure industries.

The company has established long-term exclusive partnerships across various sectors with both global and Indian brands, including Ritu Kumar, Bottega Veneta, Tiffany & Co., Armani, Balenciaga, among others.

Continue Exploring: Swiggy and Pret A Manger team up to offer online delivery of freshly made delights and organic coffees

VilCart surpasses INR 100 Crore revenue milestone in March, eyes further growth

SnackTeam

April 9, 2024

Rural economy-focused tech startup, VilCart, announced on Monday that it achieved a revenue of INR 102 crore in March 2024. The company highlighted that its path to reaching this milestone of INR 100 crore in revenue was marked by significant partnerships with farmers, farmer producer organizations, leading suppliers, manufacturers, and brands, according to a statement released by the company.

“Every day, VilCart is experiencing growth, and with this rapid expansion, we are advancing towards new milestones,” stated Prasanna Kumar C (CPK), CEO of VilCart Rural. “We witnessed a remarkable 350 per cent increase in our workforce from 2023 to 2024,” he added.

Continue Exploring: Jumbotail raises INR 151 Crore led by Artal Asia in Series C3 funding round to revolutionize kirana retail ecosystem

He elaborated, “Our vision is to evolve Gramin Kirana stores into Gramin Supermarkets, providing them access to a comprehensive range of products available in the city.”

Earlier this year, the Bengaluru-headquartered startup secured INR 144 crore in Series A funding, with Asia Impact SA leading the investment round.

Since its inception in 2018, VilCart has expanded its reach to encompass 85,000 Kirana stores across 30,000 villages, spanning 56 districts in South India.

Continue Exploring: Innovative strategies propel ShopKirana’s revenue, aiming for INR 1,000 Crore run rate in FY24

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

SnackTeam

April 9, 2024

Invesco, a US-based investor, has raised the valuation of Swiggy, a food and grocery delivery company, to $12.7 billion, according to filings submitted to the US Securities and Exchange Commission. This represents an 18% increase from Swiggy’s previous valuation when it last secured funding in 2022.

In January 2022, Invesco led a $700 million funding round that valued Swiggy at $10.7 billion. This increase in Swiggy’s valuation by its investors contrasts with the recent fair value markdowns of stakes in several other Indian internet companies, including Ola Cabs, Byju’s, and Meesho, by investors like Vanguard, BlackRock, and Fidelity.

Last month, Snackfax reported that Baron Capital had increased the company’s valuation to $12.1 billion. As of January 31 this year, Invesco, which is expecting Swiggy to soon file draft papers for its $1 billion initial public offering (IPO), has also valued Swiggy at this amount. This marks the fourth consecutive valuation increase by Invesco for Swiggy.

Continue Exploring: Baron Capital elevates Swiggy’s valuation to $12.1 Billion, marking 13% increase from previous fundraise

Crossover funds, which invest in both publicly traded and privately held companies, regularly reassess the valuation of their portfolio companies. The fair value is determined based on various factors, including the stock market performance of similar companies.

Swiggy declined to comment on the development.

From October 31 to January 31, the share price of Zomato, Swiggy’s primary competitor in the food delivery, quick commerce, and dining-out sectors, rose by 33%.

Presently, Zomato’s shares are soaring to an all-time peak, edging close to the INR 200 threshold, with its market capitalization surpassing $20 billion.

According to stock market analysts, the increase in Zomato’s market valuation is mostly due to the growth of its rapid commerce venture, Blinkit, which competes with Swiggy’s Instamart, as well as Zepto & BigBasket.

Swiggy experienced a remarkable 45% year-on-year surge in operating revenue for the fiscal year that ended in March 2023, reaching INR 8,265 crore. Despite this, its net loss widened by 15% to INR 4,179 crore during the same period.

Continue Exploring: IPO-bound Swiggy appoints Titan’s Suparna Mitra as independent director

According to a January report by Bernstein, Zomato commanded a 54% market share in terms of gross merchandise value (GMV) in the food-delivery segment, with Swiggy trailing at 46%.

According to Reuters, referencing an internal company document, Swiggy reported a loss of approximately INR 1,730 crore for the nine-month period ending in December 2023. Throughout this timeframe, the company generated revenues of approximately INR 8,490 crore.

In the same period, Zomato’s consolidated operating revenue amounted to INR 8,552 crore.

On April 8, Snackfax reported that Swiggy, in preparation for its IPO, has transitioned into a public limited company. Furthermore, on February 27, Swiggy altered its registered name from Bundl Technologies Pvt Ltd to Swiggy Pvt Ltd with the aim of enhancing the association and recognition of the company’s corporate identity with its core brand, ‘Swiggy’.

Continue Exploring: Swiggy transitions to publicly traded company ahead of $1 Billion IPO

Fashion retailer Ted Baker to shut down 15 UK stores, leading to nearly 250 job cuts

SnackTeam

April 9, 2024

Ted Baker will be closing approximately 15 stores across the UK, including shops in London Bridge and Milton Keynes, leading to nearly 250 job losses, as stated by the joint administrators of the collapsed British fashion retailer.

Ted Baker, a well-known brand in the UK, entered administration last month, following its sale to the U.S.-based Authentic Brands Group over a year ago.

Authentic Brands is seeking a new operating partner to manage the retail and e-commerce business in the UK and throughout Europe.

The UK-based company No Ordinary Designer Label (NODL), which operates under the Ted Baker name, appointed Teneo Financial Advisory as its administrator on March 22.

British fashion retailers are grappling with challenging market conditions. Superdry, a peer of Ted Baker, stated earlier this year that it anticipates no improvement in market conditions in the foreseeable future.

Continue Exploring: Superdry CEO Julian Dunkerton weighs takeover options as struggling retailer seeks recovery

The administrators said they would be closing 11 Ted Baker stores by April 19, resulting in the loss of approximately 120 roles.

Approximately 25 positions at the head office have also been eliminated.

Additionally, the administrators noted that before their intervention, landlords had already served notices on four additional stores slated to close in the upcoming weeks, leading to an additional 100 job losses.

“The stores slated for closure are currently operating at a loss. After a review by the Joint Administrators, they are considered to have no potential for returning to profitability, even with significant rent reductions,” stated the administrators.

“These store closures, although unfortunate for our dedicated team members, will enhance the business’s performance,” commented Joint Administrator Benji Dymant.

Continue Exploring: The Body Shop files for bankruptcy: US operations shut down, Canadian stores to follow suit

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