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

April 5, 2024

Reliance Retail has launched the 12th outlet of Pret A Manger, a UK-based freshly made food and organic coffee chain, in India, as shared by a company official on social media. Situated at Brady House, Horniman Circle, Fort, Mumbai, this new establishment marks the seventh Pret A Manger store in the city.

“I am excited to announce the long-awaited opening of our latest Pret A Manger at Brady House, Fort, Mumbai,” stated Chandramohan Ramadasan, the business head of Pret A Manger at Reliance Brands Ltd., in a LinkedIn post.

Horniman Circle is renowned for hosting some of India’s pioneering retail ventures. In October 2012, the American coffeehouse chain Starbucks launched its inaugural store in India at Elphinstone Building, Horniman Circle. Additionally, Zara, the leading brand of the Spanish fashion retailer Inditex, inaugurated its largest store in India, spanning 51,300 sq. ft., in Mumbai’s heritage-listed 110-year-old Ismail Building situated in Horniman Circle.

Continue Exploring: Pret A Manger expands in India with the launch of its 10th outlet in Mumbai

In India, Pret A Manger outlets feature a selection of sandwiches, baguettes, salads, and soups, along with an assortment of organic coffee, tea, shakes, and smoothies.

“Setting a global benchmark, our Brady House location offers our clients a unique set of solutions. “Every aspect of this business has been thoughtfully designed to improve your dining experience, from plated service and an unusual dessert option to a transparent kitchen,” Ramadasan stated.

Pret A Manger has made its entry into India in collaboration with Reliance Brands, the retail arm of Reliance Industries.

Continue Exploring: Reliance ventures into the coffee industry with the opening of Pret A Manger’s first shop in Mumbai

In April, Reliance unveiled its first Pret A Manger cafe at Maker Maxity in Mumbai. Spanning 2,567 square feet, the outlet faithfully recreated the ambiance of the brand’s renowned London establishments. Subsequently, later that month, Pret A Manger launched its second Mumbai outlet at Phoenix Palladium Mall.

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

Reliance Brands, a subsidiary of Reliance Retail Ventures Ltd, commenced its operations in 2007 with the objective of introducing and developing global brands in the luxury to premium segments within the fashion and lifestyle sectors.

The company has established enduring exclusive partnerships across various sectors with both global and Indian brands, including Ritu Kumar, Bottega Veneta, Tiffany & Co., Valentino, Versace, Rahul Mishra, Armani, Balenciaga, Boss, and Zegna, among others.

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

Beauty ecommerce giant Purplle sets sights on brick-and-mortar expansion, eyes $100M investment from ADIA

SnackTeam

April 5, 2024

Purplle, the beauty ecommerce marketplace, aims to expand its presence by opening additional brick-and-mortar stores this year. Additionally, the company is in early talks with the Abu Dhabi Investment Authority (ADIA) regarding a potential $100 million investment.

Mint reported, citing sources familiar with the matter, that the primary infusion is anticipated to take place predominantly via a secondary transaction, facilitating the exit of certain early investors.

According to the report, Purplle’s sought-after valuation remains undisclosed at present. The fundraising endeavor is anticipated to unfold in the upcoming months, possibly constituting a segment of the company’s pre-IPO round.

CEO Manish Taneja disclosed to Mint that Purplle intends to access the public markets sometime between the second half of next year and early 2026.

Continue Exploring: Billionaire Ranjan Pai eyes major stake in beauty e-commerce giant Purplle

In May last year, ADIA invested $50-60 million in Purplle at a $1.1 billion valuation, which remained unchanged from its previous valuation following a $33 million investment from Paramark Ventures in June 2022.

Based on Tracxn data, the company has secured a total of $387 million through 16 funding rounds.

Additional investors in Purplle comprise Peak XV Partners, Blume Ventures, and Premji Invest.

Taneja continued, stating that rising expenditure on beauty items and a growing inclination towards hybrid buying are the company’s driving forces for its entry into offline channels.

He also mentioned that the company currently operates only two offline stores but intends to open 5-10 more in the coming months.

Over the past two years, consumers have transitioned back to offline shopping as they resume pre-pandemic routines. This shift has prompted online beauty and personal care companies such as Nykaa, Mamaearth, and now Purplle to contemplate expanding their offline presence.

In February, Mamaearth’s co-founder Ghazal Alagh revealed plans to expand its omni-channel distribution, aiming to reach 17,000 retail touchpoints. This represents a notable 37% increase from the previous year.

Continue Exploring: Honasa Consumer expands offline presence with multi-brand outlet in Bengaluru

In the third quarter of fiscal year 2024, the startup expanded its offline footprint, extending to 177,366 FMCG retail outlets across India and incorporating approximately 8,000 additional stores.

Moreover, the company has established collaborations with Purplle and other entities to serve the needs of tier-2 and tier-3 segments.

In the meantime, media reports indicate that Nykaa’s store count surged to approximately 150 by FY23 from 72 stores two years earlier. However, according to Mint, Purplle intends to uphold its emphasis on online operations, which currently generate roughly 99% of its revenue, as stated by Taneja. He further mentioned that the launch of their stores is likely in an experimental phase, with intentions to assess their performance gradually.

Continue Exploring: Purplle achieves rapid growth in FY23, edging closer to the INR 500 Cr revenue mark

Yum Brands goes high-tech: AI set to reshape operations at Pizza Hut, KFC, and Taco Bell

SnackTeam

April 5, 2024

Pizza Hut, KFC, and Taco Bell are set to significantly enhance their operations through the integration of artificial intelligence. Yum Brands, the parent company of these beloved fast-food chains, is fully embracing AI technology and intends to incorporate it into nearly every facet of their restaurant operations.

According to Yum’s Chief Digital and Technology Officer Joe Park, “our perspective on quick-service restaurants is centred around an AI-first approach throughout every process,” he said in a Wall Street Journal interview. “When assessing the important facets of restaurant operations that may gain benefit from AI, we see endless potential.”

AI technology is on its way to your local drive-thru, where voice AI systems are undergoing trials to handle order-taking duties instead of human employees. Additionally, there’s a pilot program for an AI-driven “SuperApp” designed for staff, enabling them to easily inquire about menu preparation methods instead of relying on cumbersome training manuals.

“You can achieve this with generative AI,” Park commented on the AI chatbot features being trialed for the SuperApp, which is utilized in over 8,700 Pizza Hut and KFC outlets.

Continue Exploring: From smart kiosks to AI-powered chefs: How artificial intelligence stirred up the food business and restaurants in 2023

The SuperApp is conceived as a comprehensive “coach in your pocket,” as described by Park, for franchisees. From adjusting oven temperatures and scheduling shifts to ordering ingredients, this AI assistant has the potential to handle crucial tasks typically managed by human supervisors. Does this mean the end of the need for human managers?

The integration of AI might raise concerns for the employees crafting your Crunchwrap Supremes and Original Recipe chicken. Nonetheless, Yum asserts that its human workforce will continue to be essential, referring to the AI technology as an “opportunity to enhance the experiences of restaurant team members.”

A spokesperson from Yum informed The Journal that employees “will always play an essential role,” even with the extensive AI initiatives in place.

For the consumer, Yum’s AI initiatives could lead to a more personalized experience. The company has aggregated data from its various brands to formulate comprehensive customer profiles. This integrated data, the “secret sauce,” could enable AI systems to offer customized promotions and anticipate your cravings for your next meal.

Continue Exploring: Yum! Brands reports robust Q2 performance in India: KFC sales jump 22%, Pizza Hut 11%

“We recognize that loyalty will be a crucial aspect of Yum’s future,” stated Park. “Each time we increase our digital sales, it brings along valuable customer data.”

However, not everyone is enthusiastic about AI being responsible for their fast food preparation. Some experts caution that existing generative AI could produce unsafe cooking instructions or mix ingredients in ways that could be potentially harmful.

However, for Yum, the benefits of boosting digital sales and reducing labor costs seem to outweigh the risks of AI potentially mishandling the fryer (at least for the time being). Since the pandemic, Yum has nearly doubled its digital sales to approximately $30 billion, accounting for 45% of total sales, as reported by Park. These online ordering figures provide Yum with even more motivation to intensify its focus on AI and automation to continue driving digital growth.

Continue Exploring: Yum Restaurants India exits Devyani International, sells entire stake for INR 871 Crore

Food delivery app Thrive hits record highs in consumer numbers and orders, unveils ‘Faves’ loyalty program and expands restaurant portfolio

SnackTeam

April 5, 2024

Thrive, the popular food discovery and delivery app, is celebrating a promising start to the new financial year, FY24-25. Dhruv Dewan, Co-Founder of Thrive, recently shared an update on the company’s performance and future plans via a LinkedIn post.

Over the past weekend (from Friday to Sunday), Thrive registered its highest-ever consumer numbers. Furthermore, March marked the month with the highest number of orders in the company’s history. Dewan expressed optimism about the company’s growth potential, stating, “Lots of growth left to capitalize on, but this gives us the push we need that we’re on the right path.”

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Thrive’s consumer app now features a unique loyalty program called ‘faves’. Customers can select their five favorite restaurants and avail discounts of up to INR 125 off on every order placed through Thrive. Unlike typical aggregator loyalty programs, ‘faves’ aims to drive more value for the restaurants rather than solely benefiting Thrive.

A fascinating insight shared by Dhruv Dewan revealed that a popular ice cream brand observed a 46.5% higher repeat purchase frequency among consumers who selected their brand as part of their ‘faves’ compared to regular consumers.

Moreover, Thrive is also expanding its restaurant portfolio with the addition of marquee brands like Tiger Yaki, Mainland China, GetAWay, and Amar Juice Centre. Additionally, a crowd favorite legacy brand will soon be available for order on the app.

Continue Exploring: From scoops to sundaes: Ice cream sales set to soar 15-20% this summe

Dewan also highlighted the ongoing collaboration between Thrive and Coca-Cola. As part of this partnership, restaurants can list Coca-Cola items on Thrive and will receive a differential commission. They will also be included in marketing activities and campaigns, benefiting from the brand’s loyal customer base.

In addition to these developments, Thrive is collaborating with a diverse group of creators who are passionate about food and culinary experiences. Through ‘Thrive Spotlight’, the app will feature content from these creators, offering users unique insights and recommendations.

With these new initiatives and milestones, Thrive is poised for continued growth and aims to further solidify its position as a leading food discovery and delivery app in the coming fiscal year.

Continue Exploring: Zomato pilots new last-mile delivery service for office goers in corporate parks

U.S. Polo Assn. reports record-breaking $2.4 Billion global retail sales in 2023

SnackTeam

April 5, 2024

U.S. Polo Assn., the official brand of the United States Polo Association (USPA), has achieved a record-high global retail sales of $2.4 billion in 2023.

The brand’s remarkable growth can be credited to its expansion endeavors across different regions globally.

The brand’s growth strategy has led to a rise in market share in established regions like North America and Western Europe, and it has also seen substantial growth in emerging markets including Asia, Central America, the Middle East, and India.

In fact, U.S. Polo Assn. is targeting to become a billion-dollar business solely in India, underscoring its international appeal and popularity in crucial markets.

Continue Exploring: Levi Strauss raises annual profit forecast following cost reductions; shares soar 7%

With a footprint in 190 countries, U.S. Polo Assn. runs over 1,100 retail stores worldwide, in addition to various wholesale outlets and online platforms.

The brand is continuing its retail expansion, aiming to reach 1,500 stores in the near future.

Additionally, U.S. Polo Assn. has experienced significant growth in its digital sector, with 50 brand websites in 20 languages and active engagement with millions of followers across social media platforms.

Despite its commercial success, U.S. Polo Assn. remains dedicated to its heritage and ties to the sport of polo.

Through strategic partnerships like its recent multiyear agreement with ESPN, the brand seeks to promote polo to a worldwide audience.

Furthermore, the acquisition of the USPA National Polo Center highlights the brand’s commitment to nurturing the growth and development of the sport.

Continue Exploring: Global apparel and fast fashion giants buck trend with 40-60% sales surge among young consumers in FY23

Levi Strauss raises annual profit forecast following cost reductions; shares soar 7%

SnackTeam

April 5, 2024

Levi Strauss increased its annual profit outlook on Wednesday, citing the apparel company’s recent cost reductions from workforce reductions and reduced markdowns on its jeans and denim apparel. This announcement boosted its shares by 7% in after-hours trading.

In an effort to reduce expenses, Levi’s has downsized its global corporate workforce and streamlined the number of senior leadership roles. Additionally, the company has consolidated its operations in Europe and discontinued lower-margin ventures, including its Denizen brand and European footwear business.

The apparel retailer recorded a restructuring charge of $116 million in the first quarter.

In the first quarter, Levi’s posted a loss of $10.6 million, equivalent to 3 cents per share, in contrast to a profit of $114.7 million, or 29 cents, recorded a year ago.

Continue Exploring: Levi’s revamps Kyoto store with NextGen concept, elevating denim shopping experience

However, during a call on Wednesday, Chief Financial Officer Harmit Singh expressed optimism, stating that the jeans maker is “feeling good” about a “more stable” U.S. consumer environment.

Sales of Levi’s clothing to consumers through its website and company-owned stores increased by 8% on a constant-currency basis, following a 10% rise in the previous quarter.

However, sales for Levi’s through its significant wholesale channels, including department stores like Macy’s and Kohl’s, as well as other retailers like Walmart, declined by 19% on a constant-currency basis. This decline was more pronounced compared to a 3% decrease in the fourth quarter.

Amid persistent inflation causing shoppers to spend less on clothing, many retailers carrying Levi’s jeans have reduced their orders to maintain leaner inventories.

According to Singh, Levi’s plans to implement similar measures and reduce its stock-keeping units.

“We’re getting ready to cut about 15% of our SKUs and concentrate on expanding products that are truly popular with customers,” Singh said. “Currently, the baggier fit and the low, loose assortment seem to be particularly resonating with customers.”

Increased full-price sales and decreased product costs resulted in Levi’s gross margins climbing by 240 basis points to 58.2% in the first quarter, up from 55.8% a year earlier.

However, the San Francisco-based company stated that it still anticipates full-year revenue growth to be in the range of 1% to 3%.

The denim manufacturer anticipates an adjusted profit ranging from $1.17 to $1.27 per share for 2024, an increase from its previous forecast of $1.15 to $1.25. Analysts had predicted a profit of $1.21 per share.

Its net revenue declined by approximately 7.8% to $1.56 billion for the quarter ended February 25, slightly surpassing the estimated $1.55 billion, as per LSEG data.

Continue Exploring: California lifestyle apparel brand Dockers makes big bet on Indian market, plans five store openings in first year

Former Starbucks CEO Howard Schultz acquires minority stake in Tony’s Chocolonely

SnackTeam

April 5, 2024

Former Starbucks CEO, Howard Schultz, has acquired a minority stake in the Dutch chocolate company, Tony’s Chocolonely.

Schultz made his investment “recently,” the company announced in a statement.

The support comes after a successful €20 million ($21.7 million) fundraising round last June, with continued backing from existing investors such as Verlinvest and JamJar Investment. Both investors increased their stakes in the group during this round.

Tony’s Chocolonely opted not to disclose the total amount of funds it has raised to date.

Continue Exploring: Starbucks reports robust 22% sales growth in the UK, plans to open 100 more stores

Regarding Schultz’s investment, Douglas Lamont, the CEO of Tony’s Chocolonely, stated, “We are proud to have Howard Schultz as an investor in our company and eagerly anticipate benefiting from his vast experience in building a global consumer brand and company.”

“Tony’s swift revenue growth, growing appeal among U.S. consumers, and heightened investor interest illustrate that creating a company that balances shareholder returns with its impact on people and the planet is not only the right thing to do but also a smart strategy for modern businesses.”

The group plans to utilize the recent investment to enhance its “U.S. production capabilities” at its Chicago factory, which commenced operations in June of last year.

Tony’s Chocolonely intends to use the funds to further the brand’s expansion in the U.S. and to support the growth of “Tony’s Open Chain,” their business-to-business bean-sourcing operation, the company stated.

The chocolate bar producer also owns a facility in Belgium, which it acquired in 2021.

When inquired about the business’s plans for growth in the U.S. in 2024, Tony’s indicated a focus on “local production” and highlighted their “first year partnering with Walmart.”

Tony’s Chocolonely bars are now available in over 4,000 Walmart stores across the U.S., marking a 20% increase in store presence compared to 2023, the group announced.

Continue Exploring: Starbucks CEO bullish on India’s coffee market, targets 1000 cafes by 2028

The company will now be available in 31,000 points of sale across the country, including retailers like Whole Foods Market, Safeway, CVS, and Target.

Regarding the U.S. expansion, Lamont remarked, “We are immensely proud of the progress we’ve made in the U.S. market… Our increased retail footprint, combined with strategic investments in production and our new investment partnerships, align with our broader goal to eradicate exploitation in the cocoa industry.”

Tony’s Chocolonely saw a 23% year-on-year growth in annual revenue in 2023, reaching $162 million.

Krispy Kreme teams up with KitKat and Aero to launch exclusive doughnut flavors in the UK

SnackTeam

April 5, 2024

Krispy Kreme is set to launch two special-edition doughnuts in the UK next week, in collaboration with the renowned chocolate brands KitKat and Aero.

The new ‘Krumbled’ doughnut boasts a KitKat-flavored chocolate filling and crumb topping, layered on a chocolate-iced doughnut, promising a decadent blend of “crunchy and creamy” textures.

Continue Exploring: McDonald’s and Krispy Kreme join forces to bring doughnuts to all US outlets

The “Bubbly” ring doughnut offering, on the other hand, has a peppermint chocolate filling and is covered in a mixture of Aero chocolate toppings. An Aero peppermint chocolate “bubble” serves as the “cherry on top.”

The KitKat and Aero doughnuts will be on sale from 11 April to 19 May at Krispy Kreme outlets, selected supermarket displays in Tesco, Sainsbury’s, and Morrison’s, as well as via third-party delivery services UberEats, JustEat, and Deliveroo.

Both doughnuts will be available for £3.25 each.

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

Diageo raises the bar in India with the introduction of world’s finest tequila, Don Julio 1942

SnackTeam

April 5, 2024

Diageo, a leading name in the global alco-beverage sector, is delighted to introduce Don Julio 1942, an exceptional tequila brand, to the discerning Indian market. Esteemed by Hollywood and Bollywood luminaries such as Kylie Jenner, Kim Kardashian, Karan Johar, and Victoria Beckham, Don Julio 1942 is set to make a notable impact in India. Its recent spotlight at the Oscars has further heightened its appeal and anticipation. This launch reaffirms Diageo’s commitment to broadening its presence in the country. With its meticulous craftsmanship and rich heritage, this premium tequila embodies luxury, elegance, and unmatched flavor.

Don Julio 1942 Tequila is distinguished not just by its popularity but also by its meticulous craftsmanship. Every bottle is made from carefully chosen 100% Blue Weber Agave plants cultivated in the volcanic soils of Mexico’s Jalisco highlands. The agave is subjected to a 72-hour slow-roasting process in traditional masonry ovens, yielding a sophisticated flavor profile infused with hints of caramel, vanilla, and toasted oak.

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Each batch of Don Julio 1942 Tequila is distilled and matured for at least two and a half years in American oak barrels, ensuring its distinctive smoothness and rich character. Under the guidance of master distiller Enrique de Colsa, every sip promises an unforgettable sensory journey.

The establishment of the La Primavera distillery in the Mexican Jaliscan Highlands in 1942 marked the beginning of the Don Julio adventure. From tending to the agave fields to individually choosing each piña, Don Julio’s commitment to quality has been preserved by three generations of Jimador families. Don Julio 1942 Tequila was first produced to honour the distillery’s 60th anniversary. Since then, it has gained international acclaim for its exceptional quality and distinctive flavour. It is now available in select locations around India, giving discriminating customers a chance to experience its remarkable allure directly.

Prathmesh Mishra, Chief Commercial Officer of DIAGEO India, commented, “Don Julio 1942 is celebrated in the most exclusive cocktail bars, restaurants, and nightclubs worldwide. It’s the preferred choice of connoisseurs and the crème de la crème of society and celebrities. Crafted in small batches and matured for a minimum of two and a half years, Don Julio 1942 pays homage to the year Don Julio Gonzalez embarked on his tequila-making journey and promises to elevate India’s luxury drinking experience. As a longstanding favorite among luxury enthusiasts globally, we are excited to introduce this unmatched indulgence to India. Por amor!”

Whether enjoyed neat, on the rocks, or as the centerpiece in exquisite cocktails, Don Julio 1942 Tequila promises to captivate the senses and leave a lasting impression. As India welcomes this iconic spirit, it joins prestigious global venues that admire and indulge in the timeless elegance of Don Julio 1942 Tequila. Diageo aims to position 1942 as the quintessential celebratory drink, synonymous with festive occasions and joyful gatherings.

Continue Exploring: Diageo launches Tequila Don Julio 1942 at Mumbai Airport’s duty-free store

Ferns Estates acquires 75-room luxury hotel in Goa for INR 175 Crore; plans expansion with additional 75 suites

SnackTeam

April 5, 2024

Ferns Estates, a Bengaluru-based hospitality company, has acquired a 75-room luxury hotel located in the tourism hotspot of Goa from a local developer for INR 175 crore. As part of the deal, they have also obtained a 2-acre adjacent plot with plans to develop an additional 75 suite rooms.

Errol Fernandes, Chairman & Managing Director of Rosetta Resorts and Holiday Homes, said, “The organisation received a project loan of INR 150 crore from Bajaj Finance with a 10-year term to fund their acquisition.” “We want to construct opulent luxury suites next to the hotel in order to capitalise on the robust market demand for such high-end lodging. It is expected that in the long run, this strategic decision would increase the company’s profitability.”

Continue Exploring: Accor bullish on India, plans to launch 30 new luxury hotels with 5,500 rooms over next 3-5 years

“The concentration of hotels in Goa, a renowned vacation hotspot in India, is larger than in almost every other part of the country due to the large number of visitors the state attracts throughout the year,” he said.

Ferns Estates, the company behind the Rosetta Resorts and Holiday Homes brand, intends to grow its resort portfolio by adding approximately 1,000 rooms over the next 3-5 years. The company has pinpointed potential properties in various locations for this expansion.

“This strategic decision will not only increase its capacity to serve a broad spectrum of travellers, but also strengthen its market position through a combination of lease and company-owned properties acquired to enrich its portfolio of assets,” Fernandes stated.

According to a JLL analysis, hotel investments in India reached $401 million in 2023, nearly quadrupling the data from 2022. In 2023, financial institutions and high net worth individuals (HNIs) accounted for the highest proportion of hotel investment activities, at 31%.

Continue Exploring: Hotel investments in India surged to $401 Million in 2023, reveals JLL Report

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