Tira, the omni-channel beauty retail platform by Reliance Retail, has launched its 11th store across the country, as announced by an industry official on social media. Situated on Peddar Road in South Mumbai, the new store is located within the Vama department store.
“Inaugurating our latest addition! The 11th Tira Store is now open at Vama, Peddar Road, South Mumbai. Tira extends its presence across South Mumbai,” shared Nirant Khedkar, Executive Director of The Othr Lab, in a LinkedIn post.
The Othr Lab is a Dubai-based retail consultancy specializing in developing, launching, and scaling emerging and niche beauty, wellness, and lifestyle brands with a focus on the Middle East and Indian Subcontinent.
The latest store features a carefully curated selection of brands spanning makeup, skincare, fragrance, and bath products. It offers innovative amenities including AI fragrance finders, smart mirrors, and personalized beauty and skincare consultations.
In February 2023, Reliance Industries Ltd.’s (RIL) retail division, Reliance Retail, introduced Tira as an online retailer. After that, in April, they opened its flagship shop at Jio World Drive in Mumbai’s Bandra Kurla Complex.
Tira’s second retail outlet within the city can be found at Infiniti Mall in Malad.
Recently, the beauty retailer broadened its presence into the Northern region by inaugurating a store at DLF Avenue Mall in Saket, New Delhi. This marked the milestone of Tira’s 10th store in India.
Tira currently offers over 150 Indian and international brands in its stores.
Reliance Retail Ltd. (RRL) is a subsidiary of Reliance Retail Ventures Ltd. (RRVL), which is the parent company for all RIL retail enterprises. The company maintains a huge network of over 18,771 stores and digital commerce platforms across a variety of industries, including grocery, consumer electronics, fashion & leisure, and pharmaceuticals, all within a perfectly integrated omnichannel framework.
As summer starts to set in, The BlueBop Cafe beckons with the perfect remedy to beat the heat: their homemade gelato. Renowned for its unique ambiance and unrivaled style, this beloved hotspot is ready to whisk your taste buds away on a delectable journey with its freshly churned gelato, beloved by patrons of all ages.
BlueBop Gelato is far from just another gelato brand. Its dense, silky, and smooth texture is sure to captivate anyone’s senses with delight. By using more milk and less cream, one can indulge with a touch less guilt. But that’s not all! What sets their gelato apart is the meticulous crafting process that employs only the finest and most authentic ingredients. Without any artificial flavors, it truly stands as a unique and exceptional treat. The divine gelato collection at The BlueBop Cafe is genuinely a tantalizing delight for anyone’s taste buds.
From classic favorites like Blueberry Cheesecake to innovative selections such as Almond Maple and Nutella Sea Salt, this menu truly offers something for everyone. For those with a discerning palate, the French Vanilla Gelato presents a sophisticated flavor profile that will undoubtedly leave one craving more. The Belgian Chocolate Gelato boasts a rich and creamy blend of 65% dark chocolate, while the Lotus Biscoff Gelato delivers a delightful crunch for Lotus Biscoff enthusiasts.
For those with dietary restrictions, there’s no need to worry! The BlueBop Cafe provides guilt-free options with their Vegan and Sugar-Free Chocolate Gelato, which is just as delectable as the rest. Rest assured, their gelato is churned fresh, ensuring the utmost in flavor and quality. They have also introduced a tantalizing seasonal Mango Gelato flavor.
Eesha Sukhi, the Director of The BlueBop Cafe, expresses her excitement, stating, “We are thrilled to receive such a positive response to our homemade Gelato at The BlueBop Cafe. This truly reflects our commitment to excellence and ensuring our customers experience the very best.”
Apparel exports are anticipated to experience a modest recovery with a projected growth of around 8-9 percent in revenues, according to ICRA. This revival is expected to be driven by increased demand for stock replenishment in the US and EU markets.
Retail apparel brands in the US and EU collectively represent nearly 55% of global apparel trade. They are anticipated to reduce their high inventory levels and place orders for the summer 2024 season in the first half of fiscal year 2025.
“Following a slight revenue dip in FY2024, ICRA anticipates apparel-exporting companies to show a rebound in FY2025 due to replenishment of stock in the US and EU regions,” stated Priyesh Ruparelia, Vice President and Co-Group Head of Corporate Sector Ratings at ICRA.
A challenging operating environment has delayed significant capital expenditure investments for many participants. Nevertheless, with the anticipation of demand resurgence in FY2025 and the strategic initiatives of industry players to leverage the China Plus One movement, ICRA anticipates an uptick in capital expenditure spending in FY2025.
The Red Sea conflict has not resulted in any immediate cost impacts on apparel exports, aside from shipment delays of 15 days from the original schedule.
Additionally, the report indicated that the PM Mega Integrated Textile Region and Apparel (MITRA) scheme will enhance India’s position in the global apparel trade by offering economies of scale and bolstering the country’s presence in the MMF supply chain.
Furthermore, the operating margins of apparel exporters are expected to decline to 9.8-10% in FY2024 from 11.3% in FY2023, attributed to a comparatively weaker operating performance in the first nine months of FY2024 and a reduction in volumes resulting in decreased operational efficiencies.
Avenue Supermarts Ltd. expects a 19.8% increase in revenue for the fourth quarter of fiscal 2024.
According to its quarterly business update released on Wednesday, the standalone revenue for the operator of the DMart retail chain is projected to rise to INR 12,393.5 crore during the January-March period, up from the same period last year.
Sequentially, the revenue is anticipated to decrease by 6.4% from INR 13,247.3 crore. However, the third-quarter performance was boosted by the festive season.
In Q4 FY24, DMart opened 24 new stores, bringing its total number of stores to 365.
Brokerages are optimistic about DMart. In March, CLSA upgraded the company’s stock twice within a week, maintaining its ‘buy’ recommendation. Meanwhile, ICICI Securities raised the stock to ‘Add’, anticipating that DMart would outperform Nestle India Ltd. in the medium term. This positive outlook is driven by several factors, including DMart’s attractive valuation, limited downside and business risk, accelerated pace of store openings, and consistent revenue growth.
Following the upgrades, the shares of Avenue Supermarts have rebounded.
DMart shares, which reached a 52-week low of INR 3,352 each on May 18 of the previous year, closed at INR 4,460.9 on the NSE in the latest session.
In the past year, the stock of the company founded by Radhakishan Damani has risen by 22.17%, while the benchmark Nifty50 has increased by 27.78%. Nonetheless, the stock has retreated from its peak of INR 5,900, reached on October 18, 2021.
Radisson Hotel Group has strategically positioned its hotels within every four hours of driving distance in India, as stated by a senior official. Moving forward, the esteemed hospitality chain aims for an even more extensive network, targeting a property within every two hours of driving distance.
Elie Younes, Executive Vice President and Global Chief Development Officer at Radisson Hotel Group, announced that the company signed 21 new hotels in India last year, encompassing locations like Jhansi and Sonipat. Now, the plan is to continue this momentum by signing approximately 30 hotels each year in the country for the next five years.
Over the upcoming five years, India is poised to witness an unprecedented phase of expansion from global chains like Marriott, Hilton, IHG, and Wyndham. CEOs, regional heads, and industry insiders express their utmost confidence, asserting that this represents the most optimistic outlook they’ve ever held.
Younes stated, “Presently, 50% of our properties are located in tier-two and three cities in India, and we are actively leading the expansion in these markets.” “Inflation rates in India have remained relatively moderate in comparison to global standards, fostering a greater sense of optimism for new hotel developments here,” he continued. On the other hand, there is noticeably less new hotel development in developed markets like Germany, France, and the UK.
Rajeev Menon, President of Asia Pacific excluding China at Marriott International, disclosed that Marriott is set to inaugurate its 150th hotel in Katra next month. He expressed the company’s ambition to reach 250 operating hotels within the next five years, amounting to approximately 50,000 rooms.
On Wednesday, Marriott inked a fresh agreement for a JW Marriott Resort & Spa hotel in Alibag, alongside a recent deal for a Ritz Carlton in Jaipur a few weeks prior.
Shawn Hill, Chief Development Officer for Asia Pacific (excluding greater China) at Marriott, asserted that this represents the most robust growth in the pipeline to date. He emphasized, “We anticipate setting all-time high signing records in India this year.”
Hilton also affirmed that 2024 will mark its most formidable year in India to date, with plans to inaugurate and finalize agreements for more hotels than ever before. Alan Watts, APAC President at Hilton, highlighted, “India’s growth trajectory and macroeconomic strength as the world’s fifth largest economy present Hilton with substantial opportunities to expand our footprint in emerging cities and markets and diversify our brand portfolio.”
“We currently have 26 hotels in operation across India, with an additional 20 in the pipeline. Among these, 4 to 6 are slated to open this year, contributing 500 keys to our portfolio in 2024 and 1,500 keys by 2026,” he remarked. “With this momentum, we are poised to expand our India estate threefold, reaching 75 hotels by 2027.”
According to Manav Thadani, founder chairman of hospitality consultancy firm Hotelivate, there is a scarcity of hotel rooms in India, and global hotel chains appear to be striking considerably more deals than previously observed.
Sudeep Jain, Managing Director for South-West Asia at IHG Hotels & Resorts, expressed that the industry is currently experiencing its most optimistic outlook. “Every hotel company, including IHG, is thriving. Demand is expected to surpass supply in India in the near future, as it remains one of the least penetrated markets,” he stated. “Currently, we have 50 operating hotels and over 60 in the pipeline.”
Dimitris Manikis, President of Europe, Middle East, Eurasia, and Africa at Wyndham Hotels & Resorts, announced that Wyndham plans to inaugurate 150 hotels in India by the end of 2025. Presently, the company operates 62 hotels and is set to open an additional 14-15 hotels within the current year.
The recent major initiatives announced by the country’s Prime Minister have undoubtedly inspired people like Arindam Chakraborty, the COO of Catering Collective, boosting their determination and enthusiasm. Both ‘Meet in India’ and ‘Wed in India’ initiatives hold significant business potential. If successfully implemented, they could surpass the targets set by Chakraborty and his business division.
Additionally, the growing demand for lavish weddings, including destination weddings, and the increasing popularity of large sporting events across the country present lucrative opportunities for organized catering services and venue management companies like Catering Collective.
Catering Collective, a division of K Hospitality, was established in 2004 with its first venue, Blue Sea in Worli, Mumbai. Today, the company manages six venues, with five located in Mumbai and one in Delhi. Over the past 20 years, the company has catered for numerous high-profile events and weddings both within India and internationally. This includes the recent pre-wedding gala for the Ambani family in Jamnagar, Gujarat.
Furthermore, Catering Collective is the preferred and empanelled caterer for various venues, stadiums, clubs, and other establishments, often enjoying the first right of refusal for catering services.
With various business opportunities on the horizon, Catering Collective has strategically positioned itself to capitalize on these prospects and aims to grow at least fivefold over the next five years. Regarding the venues business, Chakraborty discussed a “venue-led approach,” forecasting an increase in the number of venues managed and enlisted in the coming five years.
“Catering Collective adopts a venue-centric strategy to launch additional premium and luxury venues nationwide. We are currently in discussions with partners in various cities, with Hyderabad being the next target. We have also pinpointed potential venues in the Delhi-NCR region. Following this, our focus will shift to Ahmedabad, Kolkata, and Chandigarh,” Chakraborty reveals.
Expanding on the venue-centric strategy, Chakraborty explained that this approach involves collaborating with venue owners for new projects, either designing venues to meet the company’s specifications or assuming the management of existing venues.
“We can efficiently transform and commence operations at venues within four to six months. However, for a greenfield project, the timeline is naturally longer, typically ranging from 1.5 to 2 years,” he states.
Chakraborty views destination weddings as another significant growth opportunity for the company. He mentioned that the company is actively searching for “boutique venues” to cater to intimate and upscale destination weddings in sought-after locations such as Goa, Rajasthan, and more.
“In Goa and Rajasthan, we are exploring unique possibilities for destination weddings that follow a different format from the bigger venues. Providing a more upscale and specialised experience will be our main goal. He clarified, “We seek to secure leases with specific provisions to manage such situations.”
Catering Collective’s operations revolve around food and beverage (F&B), and the company has established a notable reputation in the domestic and international arenas for high-profile catering. “Our longstanding legacy and renowned branding provide us with a unique advantage when approaching any venue, allowing us to secure several contracts,” he states.
Catering Collective serves as the catering partner for prominent sporting venues and renowned teams in sporting leagues such as IPL, ISL, and others. As the company broadens its venue business to additional cities, Chakraborty is confident that they will have the opportunity to forge closer associations and collaborations with a greater number of sporting events and teams.
Destination weddings are an area where the company aims to excel in the upcoming period. “This year has been particularly successful for us in organizing high-profile destination weddings across various cities. We’ve executed upscale destination weddings in cities like Bangalore, Ahmedabad, Hyderabad, Mahabalipuram, and more. Additionally, we have catered to destination weddings internationally in locations such as the Middle East and Thailand. However, we see a significant opportunity to collaborate more closely with wedding influencers and planners to expand our business further,” he remarked.
Whether catering domestically or internationally, the company adheres to stringent operational protocols and quality standards, according to Chakraborty. Satellite kitchens are established at the venue, and they strictly follow a checklist of pre-event and post-event procedures. Additionally, the carbon footprint of each activity is meticulously measured.
Chakraborty emphasised the company’s dedication to sustainability by saying, “We have recently collaborated with the Centre for Environmental Research and Education (CERE) to evaluate the carbon footprint of our venues and recommend strategies to minimise and mitigate environmental impact.”
In a bid to enhance engagement with consumers, Britannia NutriChoice, a biscuit brand, has introduced NutriPlus, a health-tech app.
The app was developed in partnership with Aktivo Labs and allows users to monitor their health and wellness metrics.
Amit Doshi, the Chief Marketing Officer of Britannia Industries, stated, “Crafted by a distinguished team of doctors and scientists from Aktivo Labs, the NutriPlus app utilizes evidence-based technology and has been designed with the goal of democratizing health monitoring nationwide. Quantified health enables individuals from diverse cultures, languages, and regions to lead prolonged and healthy lives.”
The company stated that the app offers a NutriScore, a single-score indicator based on various parameters, giving users an overview of their health status. Doshi mentioned that this singular health score streamlines health monitoring and provides users with a clear understanding of their wellness journey.
Doshi stated, “Britannia NutriChoice targets the expanding consumer base that actively seeks improved snacking alternatives. Consumers can access the NutriPlus app by scanning a QR code found on various Britannia NutriChoice packs, reaching millions of households across India. We believe in the transformative impact of small, daily choices, and the NutriPlus app represents one such initiative to support millions of Indians in their quest for wellness and enhanced lifestyles. We anticipate it will democratize health monitoring.”
The company also mentioned that the NutriPlus app provides a detailed weekly health evaluation, offering personalized insights to users irrespective of their demographic.
Train travel has long been synonymous with comfort and affordability. Yet, beyond its classic appeal, it has evolved into a hub for culinary adventures in recent times. Programs like the IRCTC ecatering policy, in collaboration with trusted partners like Zoop, offer passengers an extensive menu for ordering food through IRCTC.
The IRCTC Corporate Plan for FY24-28 indicates that, in FY22, catering services accounted for 27% of total income, coming in second only to online ticketing. The growing appeal of onboard dining is demonstrated by the significant increase in demand for online meal orders placed on trains during busy times like holidays and festivals. It is anticipated that the market would reach INR 1,845.76 billion by the end of FY28 and grow at a robust 30% CAGR from FY23 to FY28, demonstrating significant growth potential in this industry.
In order to provide hygienic, tasty, and fresh food on trains, Zoop, a leading authorised ecatering partner of IRCTC, began operations in 2016. By bringing food delivery services on trains, Zoop has partnered with IRCTC to improve the convenience of train travel and is now a proud ecatering partner of the IRCTC.
Presently, Zoop boasts a monthly revenue surpassing INR 2 crores and delivers 60,000 meals per month, with 400,000 meals served in the last quarter alone. Operating at over 180 train stations across India, Zoop achieved a milestone of 2 million train meals served in 2023.
In 2023, Zoop introduced several innovative initiatives that significantly contributed to its growth and transformed the way people travel. These initiatives encompassed a diverse range of platforms and services aimed at enhancing the convenience and accessibility of train food ordering.
Collaborating with Jio Haptik, Zoop launched the WhatsApp Train Food Delivery service, available in both Hindi and Hinglish. This innovative solution leveraged a user-friendly automated Chatbot on WhatsApp, simplifying the process of ordering food for train journeys and catering to a broader customer base.
Additionally, Zoop introduced a Google Chatbot service tailored for train passengers. This enabled them to effortlessly place food orders, track PNR statuses, and manage orders directly within the chat interface by searching “Zoop” on Google.
Leveraging the popularity of social media, Zoop unveiled the Instagram Chatbot, Ziva. This allowed train travelers to order food on the go using their Instagram accounts with just a few taps.
Furthermore, in collaboration with the online payment platform Simpl, Zoop introduced the ‘Pay At Delivery’ payment option. This eliminated the need for upfront payments, providing passengers with the convenience of paying only upon food delivery.
These initiatives collectively revolutionized the food ordering experience for train travelers, marking a significant milestone in Zoop’s commitment to innovation and customer satisfaction.
Puneet Sharma, the Founder of Zoop, commented, “We initiated our services even before food delivery options were accessible for trains. By partnering and aligning with IRCTC ecatering, our objective has always been to deliver hot, fresh, and hygienic meals from FSSAI-approved restaurants directly to train seats. Having served 2 million train meals in FY 2023, we are now targeting a revenue of INR 50 Cr for FY 2024. We are expanding our operations to include more train stations across India and aiming to be available at 250 stations by the end of the year.”
Furthermore, Zoop provides 24/7 food ordering options, including pre-ordering, group orders, and specialized dietary choices such as Jain and festive cuisine from a selection of over 2,500 FSSAI-certified restaurants. In addition to food services, Zoop offers features like PNR status, platform locator, train schedule, and coach position checks, simplifying passenger inquiries and improving the convenience of food delivery.
With the Railway Ministry’s plan to replace pantry car services on 300 trains with AC-3 tier coaches, aiming to increase revenue by INR 1,400 crore and shift meal services to base kitchens, e-catering, and train-side vending machines, Zoop is committed to providing hassle-free food ordering and delivery for train passengers. Zoop will cater to the diverse preferences of passengers seamlessly, ensuring a smooth transition to the new system.
Rebel Foods, the online restaurant company known for its homegrown brand Behrouz Biryani, has enlisted Bollywood actor Saif Ali Khan as its brand ambassador. This partnership focuses on the launch of a new line called ‘Nawabi Handi Dum Biryani’, embodying the pinnacle of regal flavor. Through this collaboration, the biryani brand aims to provide its customers with an unparalleled premium royal biryani experience.
The collaboration between Behrouz Biryani and Khan for the launch of the ‘Nawabi Handi Dum Biryani’ range is more than just a partnership; it’s a co-creation, as stated in a press release by the company. This initiative embodies the brand’s commitment to offering an unmatched biryani experience by blending Behrouz Biryani’s renowned culinary heritage with Khan’s aristocratic persona, making him the perfect fit as Behrouz’s brand ambassador.
Infusing a regal flair into the brand’s image, the collaboration between Behrouz Biryani and Khan was prominently showcased across social media platforms through an advertisement. In the grand unveiling of the ‘Nawabi Handi Dum Biryani’ range, Khan is portrayed driving a classic vintage car, accompanied by a majestic procession of royal guards and horses. This portrayal accentuates Saif’s royal persona, mirroring the opulent dining experience that the new biryani range promises to deliver with each bite. The cinematic display in the advertisement encapsulates Behrouz Biryani’s dedication to providing a truly royal dining experience.
Regarding the collaboration with Khan, Nishant Kedia, Chief Marketing Officer – India at Rebel Foods, commented, “This partnership goes beyond a typical brand ambassador alliance; it’s a fusion of values, heritage, and a dedication to offering the finest to our customers. The ‘Nawabi Handi Dum Biryani’ represents our pursuit of culinary excellence, our rich heritage, and our commitment to craftsmanship, much like the roles for which Saif is renowned, which resonate with depth and authenticity. We are deeply honored and excited about this association with Saif and eagerly anticipate sharing this royal indulgence with biryani enthusiasts everywhere.”
To this, Khan remarked, “Embarking on this journey with Behrouz Biryani to introduce the ‘Nawabi Handi Dum Biryani’ has been a delightful experience. It’s about blending the opulence of royal culinary traditions with the craftsmanship that Behrouz is celebrated for. This collaboration transcends merely serving a dish; it’s about rejuvenating a legacy and presenting it with a blend of modernity and elegance, ensuring each serving evokes the essence of a royal feast.”
Utilizing the newly acquired funds, the startup aims to advance its mission of bolstering the agricultural supply chain within India’s APMC/MANDI network.
Established in 2021 by Rama Rao Kancharapu, ONO operates as a platform for farmers, facilitating crop price discovery and mandi exploration.
It provides a range of services including ONO Connect for price and market discovery, ONO Cash for credit facilitation, ONO Click, a SaaS platform for commission agents and traders offering market intelligence, payments, collections, and market operations digitization, as well as ONO Mandi, a mid-mile trading platform.
The startup asserts its operational presence in more than 45 mandis spanning six states, boasting a network of over 30,000 partners. Additionally, it reports facilitating seven commodity transactions on its platform.
Kancharapu expressed, “We’ve witnessed remarkable acceptance of our products in Mandis, and we’re confident in scaling our platform to establish a sustainable business with real-world impact. Having enduring partners like Aeravti Ventures and other industry leaders onboard enables us to expand our horizons and accelerate our growth.”
In 2021, ONO raised $530K in a funding round backed by numerous angel investors.
It competes with companies such as AgroStar, BigHaat, Cropin, Fasal, and Chifu Agritech, among others.
Rishabh Singh, managing partner at Aeravti Ventures, emphasized, “Reinforcing our commitment to India’s agricultural ecosystem has been pivotal for us. We firmly believe in technology’s transformative potential to tackle systemic challenges, and ONO stands poised to revolutionize India’s mandi ecosystem.”
Last March, Aeravti Ventures achieved the first closing of its inaugural INR 100 Cr fund aimed at emerging technology startups. At that time, the venture capital firm announced its intention to invest in startups spanning various sectors including deeptech, biosciences, agritech, climate, and enterprisetech.
Investors have been increasingly drawn to India’s agritech sector for some time now.
For example, in December last year, Vegrow, a business-to-business fruits marketplace, concluded its Series C funding round with a combination of primary and secondary investments. This $46 million fundraising effort was spearheaded by Singapore’s GIC, in collaboration with Prosus Ventures, Matrix Partners India, and other participants.
During that same month, agritech startup Fasal secured Series A funding of INR 100 crore ($12 million), with co-leadership from TDK Ventures and British International Investment (BII).
According to analysis, agritech startups in India have garnered over $2.4 billion in funding since 2014.
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