St.Botanica diversifies portfolio, enters fragrance market with exquisite perfume line

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April 3, 2024

St.Botanica, a prominent D2C beauty brand and an entity of the Good Glamm Group, has announced the launch of a new perfume line. This collection, meticulously crafted from the best ingredients, is complemented by the captivating campaign ‘Indulge Your Travel Spirit’.

The collection promises a sensory journey, with four distinct fragrances representing different corners of the world. The Citrus fragrance conjures the sun-drenched shores of the Mediterranean, blending notes of Amalfi Lemon, Patchouli, and White Honey. Transporting you to the landscapes of the Middle East, the Oud fragrance intertwines Cedarwood, Black Pepper, and Labdanum. Capturing the essence of North America, the Amber fragrance harmonizes Virginia Cedar, Gardenia, and African Orange Flower. Lastly, the Spicy fragrance entices with its fusion of Geranium, Bergamot, and Musk from Southern Africa.

To ensure broad accessibility, St.Botanica’s latest fragrances are now exclusively accessible both online through Amazon Beauty and offline at Shoppers Stop stores, reaching consumers across the nation. This strategic collaboration aims to offer effortless access to these exquisite scents, enhancing the olfactory journeys of fragrance enthusiasts everywhere.

Continue Exploring: AdilQadri Perfumes targets INR 250 Crore revenue milestone by 2025, eyes venture capital funding boost

Sukhleen Aneja, CEO of Good Brands Co within the Good Glamm Group, shared her excitement about the launch, remarking, “We’re delighted to enter the rapidly expanding fragrance market with our exceptional perfumes. With a commitment to sourcing the finest global ingredients, St.Botanica offers consumers a sensory odyssey that goes beyond conventional fragrance encounters, combining elegance with affordability. Our collaboration with Amazon and Shoppers Stop for online and offline sales respectively is also a source of great enthusiasm, ensuring consumers receive unparalleled quality and a seamless shopping journey.”

“At Amazon Beauty, our dedication lies in offering customers the latest and most thrilling beauty products. This collaboration with St. Botanica and Amazon Beauty epitomizes this commitment by presenting our beauty enthusiasts with an array of enchanting fragrances to enhance their beauty routines and elevate their everyday moments. With swift, hassle-free delivery and competitive pricing, Amazon Beauty provides customers with the ideal platform to discover and select the ideal fragrance that resonates with their distinct style and preferences,” remarked Zeba Khan, Director of BPC and Luxury Beauty at Amazon India.

Biju Kassim, Customer Care Associate and CEO, Beauty, Shoppers Stop Limited, expressed, “The exclusive launch of St.Botanica in the fragrance sector, available solely at Shoppers Stop, opens up avenues for our customers to delve into a wide range of sensory-rich fragrances. We are thrilled to provide a platform for our patrons to explore and experience the captivating St. Botanica scents, alongside an enhanced fragrance discovery journey at our stores.”

Continue Exploring: Rabanne unveils exclusive 1Million Golden Oud fragrance in India through Shoppers Stop

HyFun Foods launches HyFarm initiative, infusing INR 100 Crore to revolutionize agricultural procurement in India

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April 3, 2024

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HyFun Foods, a leading exporter of processed fruits and vegetables in India, has launched its new initiative: HyFarm. This pioneering agricultural procurement and farmer engagement program was inaugurated at the HyFun Plant facility in Mehsana, Gujarat. The event was graced by MLA Jagdish Vishwakarma and attended by 6,000 farmers. The company has pledged an initial investment of INR 100 crore for HyFarm, with the goal of revolutionizing produce procurement.

Haresh Karamchandani, the MD and CEO of HyFun Foods, voiced his enthusiasm for the #HyFarm initiative, saying, “With HyFarm, we are investing in the future of farming and the well-being of rural communities. This initiative underscores our dedication to sourcing top-quality ingredients, empowering farmers, and fostering sustainable agriculture.”

HyFarm, which was launched in tandem with HyFun Foods’ achievement of acquiring 300,000 tonnes of potatoes suitable for processing this year, is centred around the well-being of farmers. HyFun Foods is now recognised as the top Indian brand for potato processing thanks to this accomplishment. The occasion unveiled the HyFarm brand identity and emphasised the tight bond between HyFun Foods and its farming partners.

With a vision to harness India’s plentiful fresh produce, HyFarm aims to involve 30,000 farmers by 2030. Beyond just potatoes, HyFarm aims to procure 1 million tonnes by 2028, encompassing table and chipping varieties. Additionally, the initiative plans to expand its procurement to a broad array of fresh fruits and vegetables, offering year-round opportunities for farmers.

Continue Exploring: HyFun Foods to invest INR 850 Crore in Gujarat for three new plants, aims for INR 5,000 Crore revenue by 2028

With the goal of incorporating India’s plentiful fresh produce, HyFarm aims to involve 30,000 farmers by 2030. Beyond potatoes, HyFarm plans to procure 1 million tonnes by 2028, encompassing table and chipping varieties. Additionally, the initiative intends to expand its procurement to a diverse array of fresh fruits and vegetables, offering year-round opportunities for farmers.

In addition to procurement, HyFarm seeks to empower farmers through technology. A digital platform will provide access to agricultural best practices, improving efficiency, productivity, and sustainability.

A farmer representative at the event remarked, “HyFarm is a game-changer, offering a dependable market and consistent income. We are eager to collaborate with HyFarm for a sustainable agricultural future.”

As HyFun Foods invests in HyFarm, it reaffirms its commitment to promoting responsible agriculture and prosperity. This dedication was recently showcased at the Vibrant Gujarat Global Summit, where the company announced plans to meet growing domestic and export demands by establishing three new manufacturing plants in Gujarat. This expansion stands as a testament to HyFun Foods’ innovative approach and continuous growth in the market.

Continue Exploring: HyFun Foods reinvents itself with new brand identity, logo, and mascot

Swiggy Instamart sees yet another high-profile exit as VP of Supply Chain Karan Arora resigns

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April 3, 2024

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In yet another key exit from Swiggy, Karan Arora, the Vice President and Head of Supply Chain Management at Instamart, a subsidiary of Swiggy, has resigned after a tenure of three and a half years.

Arora left his position as Head of Supply Chain Management at Medlife to join the firm in 2020 as an Assistant Vice President.

“From starting with five dark stores, a 15,000 square feet warehouse, and 1,500 SKUs to expanding to over 500 dark stores, more than 2 million sq.ft of warehouse space, and 10,000+ SKUs, including industry-first FnV processing centers – the journey has been incredible. As I pause and reflect, I want to express my heartfelt gratitude to everyone who made this journey possible,” Arora shared in a LinkedIn post.

In his post, Arora also announced that he will be teaming up with Karthik Gurumurthy, former head of Swiggy Instamart, as a co-founder for Gurumurthy’s new offline retail venture, Convenio.

In January, Gurumurthy secured $3 million in funding for Convenio from Matrix Partners India and a group of angel investors.

Continue Exploring: Karthik Gurumurthy secures $3 Million funding led by Matrix Partners India for innovative fresh produce retail venture ‘Convenio’

Meanwhile, the company has not yet announced a replacement for Arora.

“During his 3.5-year tenure with Swiggy, Arora played a pivotal role in establishing Swiggy Instamart. As he ventures into his entrepreneurial path, we offer our best wishes and unwavering support from the Swiggy team,” the startup stated.

This recent exit from Swiggy adds to the series of high-profile departures from the company in a short period.

Several key individuals, including Mallika Srinivasan (independent director), Karthik Gurumurthy (Senior Vice President and Head of Swiggy Instamart), Dale Vaz (CTO), Anuj Rathi (SVP, Central Revenue and Growth), Ashish Lingamneni (VP, Marketing), and Dineout co-founder Vivek Kapoor, have stepped down from their roles since late last year.

Continue Exploring: Swiggy faces another high-profile departure as independent director Mallika Srinivasan steps down ahead of IPO

This comes at a time when the company is gearing up for its mega $1 billion public listing later in FY24. To bolster its IPO efforts, the company has been reducing its marketing expenditures and employee expenses.

The company successfully reduced its losses to $207 million (INR 1,730 crore) in the first nine months of FY24, compared to a net loss of INR 4,179.3 crore in the previous fiscal year.

Continue Exploring: Swiggy prepares for IPO with name change to Swiggy Private Limited

Limelight Lab Grown Diamonds receives $1 Million investment, plans nationwide expansion

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April 3, 2024

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Limelight Lab Grown Diamonds has attracted a strategic investment totaling US$1 million from two prominent retail jewellery chains. Through this strategic alliance, Limelight aims to establish new stores and elevate its brand recognition nationwide.

Previously, the company had secured an investment from the Emerald Group, the largest jewellery manufacturer in Asia. This investment was part of a strategic partnership aimed at positioning Limelight as a unique vertically integrated brand, enabling joint manufacturing, sales, and distribution of LGD studded jewellery in India and worldwide.

The latest investment serves a similar purpose in the company’s strategic agenda, facilitating accelerated and robust growth in the expansion of the brand’s stores across the country. Currently, the company operates 10 stores and over 40 shop-in-shops spanning 25 cities, including Mumbai, Delhi, Jaipur, Varanasi, Hyderabad, Bangalore, Chennai, Kolkata, and others.

Continue Exploring: Top jewellery retailers hold back on lab-grown diamonds citing low consumer demand

Pooja Sheth Madhavan, Founder and MD of Limelight Lab Grown Diamonds expressed, “The positive reception and customer support for LGD jewellery nationwide have been encouraging. This sentiment is mirrored in our sales, bolstering our confidence to expand more rapidly. With the Government’s commitment and attention to this burgeoning sector, the investment provides added momentum towards our goal of expanding our presence both in India and internationally.”

During FY24, the company achieved sales totaling INR 80 crores, marking a remarkable surge of over 230% compared to the previous year. Madhavan further noted that branded sales have tripled year-on-year.

Continue Exploring: Titan’s CaratLane jewellery line to make US debut in FY25

Medusa Beverages’ sales skyrocket by 106% in FY24, fueled by strong demand and market expansion

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April 3, 2024

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Medusa Beverages Pvt. Limited, a renowned Indian brewery known for its iconic Medusa Beer, has achieved a remarkable 106% growth in total cases sold for the financial year 2023-24 (FY24). The company has successfully sold over 680,000 cases, with an impressive 88,000 cases sold in March alone. This outstanding achievement underscores the robust demand for Medusa‘s premium products and reflects the unwavering dedication of its sales team.

Furthermore, Medusa Premium Strong Beer has strengthened its market foothold in Delhi and has seen significant growth in Punjab and Uttar Pradesh. Additionally, the company successfully ventured into Uttarakhand as a new market in FY24, broadening its geographical reach.

Continue Exploring: Medusa Beverages brings iconic Medusa Beer to Uttarakhand, eyes rapid growth

The company’s recently introduced light beer, Medusa Air, has seen a remarkable 70% month-on-month increase in sales. This surge is due to the overwhelmingly positive response from customers, making Medusa Air the second top-selling beer in Delhi.

“We are thrilled to announce that Medusa Air will soon be available in other markets,” the company wrote on LinkedIn.

Continue Exploring: Medusa Beverages pushes brewing boundaries with the launch of bold, new ‘Medusa Air’

As one of the fastest-growing companies in the alco-bev sector, Medusa Beverages remains steadfast in its commitment to sustainability. A significant 90% of the company’s sales are generated from aluminium cans, promoting an eco-friendlier approach compared to traditional glass bottles.

“We are elated to announce that we have already achieved a 23% market share in the CANS category in Delhi for the financial year 2023-24. This accomplishment marks another step towards sustainability in this dynamic market segment,” added the LinkedIn post.

As the company looks ahead, its unwavering dedication to delivering exceptional products and fostering sustainable practices remains at the forefront of its mission, promising an exciting future for both the brand and its loyal consumers.

Continue Exploring: Medusa beer dominates Delhi market with record-breaking beer can sales, capturing 17% market share

Lay’s, Sabritas, Gamesa, and Rockstar join forces as official partners of Leagues Cup 2024

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April 3, 2024

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Lay’s, Sabritas, Gamesa, and Rockstar Energy Drink

Lay’s, Sabritas, Gamesa, as well as Rockstar Energy Drink have signed a multi-year sponsorship agreement with Leagues Cup, the official World Cup-inspired tournament that features all 47 Major League Soccer (MLS) and Liga MX teams. This collaboration highlights the dedication of Frito-Lay and Rockstar to soccer while providing soccer fans with a delicious assortment of salty snacks, cookies, crackers and energy drinks to enjoy as they watch.

This summer, the snack brands along with Rockstar will ignite enthusiasm for Leagues Cup and honor soccer fans from both leagues with special Lay’s packaging, in-stadium experiences, and a thrilling consumer sweepstakes. Starting on July 1, fans will have the opportunity to win tickets to matches nationwide, along with a grand prize featuring a trip and tickets to the Leagues Cup 2024 final.

“We’re delighted to have Lay’s, Sabritas, and Gamesa as the official snack partners for Leagues Cup, further enhancing the excitement for this incredible sport across North America,” commented Antonio Escalona, SVP and General Manager of PepsiCo Foods North America’s Hispanic Business Unit. “As the passion for soccer, or ‘futbol,’ continues to flourish both in North America and worldwide, we are thrilled to enhance the game-watching experience with our range of snacks.”

Continue Exploring: Lay’s teams up with David Beckham and Thierry Henry for epic ‘No Lay’s, No Game’ return, surprising 75,000 fans

To enter the sweepstakes in July, fans can locate Leagues Cup displays featuring Lay’s, Sabritas, Gamesa, and Rockstar Energy Drink at retailers across the country and scan the QR code for an opportunity to win.

PepsiCo’s General Manager and Chief Marketing Officer for the energy category, Fabiola Torres, expressed enthusiasm about Rockstar Energy’s participation in the Leagues Cup trip, especially in light of their most recent ‘You Can Own Any Moment’ campaign. “As the official energy beverage of the tournament,” she explained, ” we are not just fuelling football fandom; we’re energising it, motivating youngsters to feel both mentally and physically energised, helping them to tap into and utilise every version of themselves.”

The second edition of Leagues Cup will showcase all 18 clubs from the Mexican league, LIGA MX, as well as all 29 clubs from MLS, representing both the U.S. and Canada. These 47 clubs will vie for victory in the official Concacaf club tournament, taking place from July 26 to August 25, 2024.

The 2025 Concacaf Champions League will include three qualifiers chosen from Leagues Cup 2024, which will be held in the United States and Canada. The region’s representative in the FIFA Club World Cup will be the Concacaf Champions League champion.

Continue Exploring: Lay’s gets a desi twist: AI imagines a chip lineup featuring Dhokla, Chole Bhature, and More

Carter Ladd, Executive Vice President of Soccer United Marketing (SUM), expressed excitement about the partnership between Leagues Cup and Lay’s, Gamesa, Sabritas, and Rockstar Energy, aiming to enhance this year’s tournament for fans. He emphasized gratitude for the support of brands aligned with the mission of uniting people across borders and cultures. Ladd believes that integrating fans’ passion for soccer with their preferred snacks and energy drinks will elevate the tournament experience to unprecedented heights.

Tickets for all matches, including those held at LIGA MX hub venues, will be accessible through LeaguesCup.com. Additionally, they will be available to fans through the hosting MLS club, where applicable.

Mahindra Holidays & Resorts unveils exciting new additions to Club Mahindra’s Resort portfolio!

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April 3, 2024

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Mahindra Holidays & Resorts India Limited is excited to announce the addition of new resorts to Club Mahindra’s portfolio. Through strategic partnerships and inventory alliances, the company is committed to providing members with exclusive access to a variety of destinations and unique experiences worldwide, enhancing their vacation experiences even further.

Club Mahindra’s latest additions to its portfolio feature some remarkable properties such as The Chumbi Mountain Retreat in Pelling, Sikkim; Hotel Pushkar Fort Resort in Ajmer, Rajasthan; Summit Green Lake Tea Resort in Kaziranga, Assam; Golden Tulip Westlands in Nairobi, Kenya; Royal Tulip Hotel & Casino in Tbilisi, Georgia; Pullman Khao Lak Resort in Thailand; and Radisson Resort in Hua Hin, Thailand.

These properties provide a diverse range of amenities and experiences, including exquisite dining options, spa services, cultural and adventure activities, breathtaking views, and many other offerings.

Continue Exploring: Mahindra Holidays & Resorts inks MoU with Tamil Nadu for INR 800 Crore investment in Greenfield Resorts

Julian Ayers, the Chief Resort Officer of Mahindra Holidays & Resorts India Limited, expressed excitement, stating, “We are delighted to unveil the expansion of Club Mahindra’s portfolio, featuring these outstanding properties across global destinations. These additions, facilitated through inventory alliances, align with our objective of doubling room capacity to 10,000 by FY 30. We eagerly anticipate enriching our members’ holiday experiences with these latest additions and anticipate offering even more destinations for them to explore.”

With these recent additions, Club Mahindra further extends its reach, granting members access to some of the most stunning and unique destinations both in India and globally.

Continue Exploring: India’s hospitality industry toasts to 2024 with high hopes and record-breaking revenue growth

Ethnic menswear brand Tasva makes debut in Kolkata

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April 3, 2024

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Expanding its reach further, Tasva, the ethnic menswear brand, has made its mark in Kolkata with the unveiling of its latest store at Woodburn Park, Elgin Road, according to a recent post by a company official on social media.

This marks the brand’s second outlet in West Bengal, the first being in Siliguri.

“Thrilled to unveil our latest Tasva | Aditya Birla Group x Tarun Tahiliani store in Kolkata, situated at Elgin Road! Kolkata, we invite you to experience our outstanding service and stunning designs,” shared Varun Sharma, head of retail operations at Tasva, in a LinkedIn update.

The store features a range of sherwanis, kurta jackets, Indo-western ensembles, and accessories perfect for festivals, parties, and weddings.

Continue Exploring: Tasva expands its reach with new store opening at DLF Avenue Mall, Saket

Tasva is a venture under Indivinity Clothing, a collaboration between the renowned Indian designer brand Tarun Tahiliani and Aditya Birla Fashion & Retail Ltd (ABFRL). Launched in December 2021, Tasva specializes in ethnic menswear and debuted with its inaugural retail store located in Malleshwaram, Bengaluru.

In October 2022, Tasva expanded its presence into the e-commerce realm by partnering with Myntra, beyond its own online platform. Presently, the company boasts a network of over 60 stores spanning across more than 30 cities in India, as stated on its official website.

ABFRL, a fashion retail enterprise, is under the ownership of the Indian multinational conglomerate Aditya Birla Group. The company boasts a portfolio of brands including Louis Philippe, Van Heusen, Allen Solly, Peter England, and Pantaloons.

Continue Exploring: Bootstrapped ethnic fashion brand Libas surpasses INR 500 Crore revenue milestone in FY24; eyes 60-70% growth and seeks first round of funding

Demand slump hits lifestyle companies despite new summer collections: Motilal Oswal Report

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April 3, 2024

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Many lifestyle companies are seeing a decline in demand across various product categories, as reported by Motilal Oswal Financial Services.

Stores have seen the clearance of accumulated old inventories, while companies have launched new summer collections.

January showed a decrease in demand, but February improved somewhat due to the wedding season and the prolonged winter. Additionally, management anticipates a stronger March, influenced by Holi and Eid festivities, as well as election expenditures. End-of-season sales (EOSS) remained consistent with the previous year during the same period, according to the brokerage. Ethnic companies are facing a subdued demand, as the quarter has fewer weddings despite more available wedding dates. Metro and Tier 1 cities/towns are still outperforming Tier 2 and Tier 3 locations.

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

Despite the challenging environment, companies are still expanding their stores at a rate of 10-15%. Historically, the last quarter is typically strong for retailers in terms of store growth.

“We expect all the companies in our coverage to continue adding stores. However, V-Mart is likely to shut down some of its unprofitable stores, possibly leading to a net reduction for the company in 4QFY24,” stated Motilal Oswal Financial Services.

Raw material costs have largely stabilized, and some companies have already passed these costs onto customers through price reductions in previous quarters. In the current quarter, we anticipate minimal price reductions by companies. With the clearance of old accumulated inventories, companies have launched new summer collections. The combined advantages of price reductions and raw material cost moderation could bolster demand recovery over the next two to three quarters, according to the brokerage.

Continue Exploring: Apparel retailers revamp inventory management strategies to counter unsold merchandise and minimize obsolescence impact

Maharashtra’s excise revenue soars to new high of INR 23k Cr as tax hike drives shift from country liquor to IMFL

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April 3, 2024

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In the fiscal year 2023-24, Maharashtra’s excise revenue reached a record high of INR 23,250 crore, primarily due to the tax levied on country liquor in the previous fiscal year. This collection marked an 8% increase compared to the INR 21,500 crore collected in the preceding year.

Officials stated that the 15% tax on country liquor encouraged many consumers to shift to Indian-made liquor (IMFL).

“People who used to consume 180ml bottles of country liquor shifted to lower-end Indian-made liquor (IMFL) of the same volume, as the price difference was only INR 30-40,” said an official.

Continue Exploring: Punjab cabinet greenlights new excise policy, targets revenue of over INR 10,000 Crore

Maharashtra generates an annual revenue of over INR 15,000 crore, with the majority coming from Indian-made foreign liquor (IMFL) and beer sales alone.

Industry sources suggested that the tax hike in Karnataka following the assumption of office by its new government last year might have also contributed to the revenue increase.

“The smuggling that previously happened across the region has now shifted towards Karnataka,” according to a source.

Since excise duty is imposed at the initial point of trade, regions with a higher number of factories lead in revenue collection, rather than those with higher consumption rates.

Continue Exploring: Uttarakhand introduces new excise policy: Allows bottling of foreign liquor, targets INR 4,440 Crore revenue in FY 2024-25

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