United Spirits faces INR 5.51 Crore tax demand over non-submission of statutory forms

April 3, 2024

United Spirits Ltd has stated that it has received a tax demand of INR 5.51 crore, including interest, for the non-submission of certain statutory declaration forms and delivery proofs. According to a regulatory filing, the Deputy Commissioner of State Tax in Nanded has imposed this demand on the company for its failure to submit specific statutory declaration forms and delivery proofs related to Pioneer Distilleries Ltd. United Spirits Ltd. and Pioneer Distilleries Ltd. amalgamated on December 30, 2023.

The demand amount totals INR 5.51 crore, which includes an interest component of INR 2.99 crore, the company added.

Continue Exploring: United Spirits hit with INR 4.47 Crore tax demand by Maharashtra State Authorities

United Spirits stated, “The company plans to challenge the issue by submitting a rectification application or appeal to higher authorities.”

Based on its risk-assessment process, the company stated, “It believes it has a strong case and anticipates no significant financial impact.”

Continue Exploring: Tax troubles continue for Zomato as INR 92 Cr demand notice adds to mounting woes

Jadeblue expands its presence with the opening of its 40th store in Rajasthan

SnackTeam

April 2, 2024

Jadeblue, the Ahmedabad-based men’s clothing retailer, has opened its 40th store in Rajasthan, as announced by a company official on social media.

“Our 40th store in India and 6th in Rajasthan is now open at Mittal Mall, Ajmer. This luxury space offers a diverse selection of formals, casuals, clubwear, festive attire, and occasional wear for men, including the iconic Modi Kurta and Jacket,” stated Vrudang Parikh, General Manager of Finance and Accounts at Jadeblue Lifestyle India Ltd., in a LinkedIn post.

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

This will mark the sixth store for Jadeblue in Rajasthan, following two in Jaipur and one each in Jodhpur, Kota, and Udaipur.

Apart from Rajasthan, Jadeblue has established its presence in Gujarat, Madhya Pradesh, Telangana, Maharashtra, and Chhattisgarh.

Founded in 1995, Jadeblue provides a wide array of collections including Modi kurtas and jackets, loungewear, ethnic wear, casual wear, and formal attire. The company has expanded to 40 men’s clothing stores and boasts a satisfied client base of over 1,000,000, as per information from its website.

Continue Exploring: Apparel brand Bombay Shirt Company raises $3.2 Million in bridge funding round led by Singularity Ventures

Ikea unveils first-ever B2B furniture collection with launch of Mittzon

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April 2, 2024

Ikea, the well-known Swedish home products and furniture company, has unveiled its first B2B (business-to-business) furniture line, Mittzon.

The latest collection comprises 56 products tailored to the needs of today’s workforce, featuring adjustable desks and sound-proof screens among its offerings.

“Our new office system, Mittzon, is designed with flexibility as its cornerstone to accommodate various working preferences and tasks. The outcome is an office system that fosters collaboration, comfort, and productivity,” stated Sumit Parthi, Country B2B Manager at Ikea India.

“B2B in India is experiencing rapid growth, and our solutions, informed by comprehensive research on both global and Indian trends, aim to expand our market share. Currently, Ikea B2B accounts for 15–20% of total Ikea sales in India. With this new collection, we aim to enhance our presence and sales in the upcoming years,” Parthi commented.

Continue Exploring: India tops Ikea’s investment priority list, says CEO Jesper Brodin, highlighting rapid development and market potential

The collection integrates biophilic design elements, taking inspiration from nature in its shapes, colors, and materials. It is designed to enhance wellness by reducing stress and increasing productivity.

The materials utilized, such as fade-resistant wood veneer and high-strength steel, guarantee durability and longevity, backed by a 10-year warranty.

The products are accessible online, via the app, and at all Ikea stores globally.

In 2018, the Ingka Group-owned Ikea made its Indian debut with a 13-acre property in Hyderabad. The company currently has two city stores in Mumbai and three big-format stores in Hyderabad, Navi Mumbai, and Bengaluru. It can be found online in Bengaluru, Hyderabad, Pune, Mumbai, Gujarat, and Hyderabad.

Continue Exploring: Ikea India streamlines operations, set to close R-City Mumbai store by mid-2024

Westside strengthens South India presence with three new store openings

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April 2, 2024

Westside

Westside, a fashion and lifestyle brand owned by Tata, has launched three new stores in South India across Kerala, Karnataka, and Tamil Nadu, as stated by a company official on social media.

The shops are located in Hesaraghatta, Bengaluru (Karnataka), Velachery, Chennai (Tamil Nadu), and Kalamassery, Kochi (Kerala).

“We are excited to announce the grand opening of three new Westside stores in the South. These exquisite stores are your premier fashion destinations, designed to satisfy all your style desires,” stated Raja Kasim, regional head at Trent Ltd., in a LinkedIn post.

The stores feature Westside’s 22 in-house designed brands, spanning categories including womenswear, menswear, kidswear, footwear, lingerie, cosmetics, perfumes, accessories, and home furniture.

Its in-house brands encompass Bombay Paisley (fusion wear), Vark (ethnic wear), Noun (party wear), L.O.V (subtle-wear), Gia (curvy women’s line), Noun Men (streetwear), E.T.A. (urban-wear), Studio West (beauty), Westside kidswear, Westside footwear, and Westside Home.

Continue Exploring: Westside to amp up beauty portfolio and strengthen e-commerce presence

Westside operates under Trent Ltd., a subsidiary of the Tata Group, established in 1998.

In April 2022, Westside achieved the milestone of 200 stores. Currently, the brand operates 231 stores across the country.

In addition to Westside, Tata Trent manages apparel brands Zudio, Utsa, and Samoh; beauty, accessories, and decor brand Misbu; and the hypermarket and supermarket chain named Star. The company also has two joint ventures with Spain’s Inditex SA to operate the Zara and Massimo Dutti labels in India.

Nao Spirits unveils Punk Gin, a fresh and authentic addition to their annual limited-edition collection

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April 2, 2024

Nao Spirits, the creators of Greater Than and Hapusa Gin, are successfully progressing towards their objective of introducing a new limited-edition gin every year. Each gin boasts a unique flavor, compelling story, and features only the freshest ingredients.

Their Pink Gin goes by the name “Punk Gin”. Embodying the essence of punk—an ethos of anti-establishment—this gin boldly defies the conventions set by commercial gin producers. Crafted with integrity, the distillers of Punk Gin abstained from artificial colorants, flavors, or sweeteners. Instead, they opted for the freshest strawberries sourced from Mahabaleshwar, a picturesque hill station nestled in the Western Ghats of Maharashtra renowned as India’s premier strawberry destination.

The strawberries are cleaned, diced, and allowed to steep in a vat of their signature London Dry Gin for 48 hours. Adding a unique twist, they incorporate dried hibiscus flowers to infuse a hint of acidity and vibrancy into the gin. The outcome is a sparkling pink gin with a delightful freshness, making it an ideal companion for the approaching summer season.

Continue Exploring: Broken Bat Gin by Nao Spirits hits a home run, named ‘Best Gin in Asia’ at The Gin Guide Awards 2023

Anand Virmani, co-founder and CEO of Nao Spirits, comments, “While pink gins are currently trending, many are laden with artificial flavors, colors, and excessive sugar, deviating significantly from authentic gin. As India’s leading craft gin brand, we seize every chance to elevate the category and exemplify true ‘craftsmanship’. This is precisely our approach with Punk Gin—adhering to our principles in a rapidly expanding and competitive market by utilizing fresh ingredients and reverting Pink Gin to its roots, highlighting its genuine essence.”

Punk Gin is ideally paired with tonic water, a fresh strawberry slice, and either a basil leaf or a sprig of rosemary. Due to its natural ingredients, it’s recommended to refrigerate the gin to maintain its freshness. This gin will be launched annually during the strawberry season in Mahabaleshwar, which spans from December to March.

Punk Gin is now available in Goa and Karnataka, and will soon be introduced in Haryana as well.

Continue Exploring: Greater Than Gin expands reach with introduction of GT Minis in six new locations, aiming to make quality gin more accessible

Radico Khaitan unveils Golden Mirage Limited Edition Box for Jaisalmer Indian Craft Gin

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April 2, 2024

Radico Khaitan, a prominent Indian Made Foreign Liquor (IMFL) company, is launching the Jaisalmer Indian Craft Gin: The Golden Mirage Limited Edition Box.

The increasing popularity of gin in India, driven by a rising inclination towards premium and artisanal spirits, has motivated Radico Khaitan to strategically expand its product offerings.

Among the offerings is the Jaisalmer Indian Craft Gin.

The company claims that this limited-edition pack from Radico Khaitan captures the essence of the Golden City by fusing classic Indian herbs with well-known gin notes like cubeb pepper, sweet orange peel, coriander, vetiver, lemon grass, Darjeeling green tea leaves, lemon peel, angelica roots, liquorice, and caraway seeds.

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Amar Sinha, the COO of Radico Khaitan, emphasized, “The Golden Mirage Limited Edition Box reflects our dedication to innovation and our unwavering mission to create exceptional experiences for our valued consumers. This intricately crafted packaging and its contents honor the rich artistry and legacy of Jaisalmer, seamlessly blending traditional Indian herbs with timeless gin flavors to present a delightfully refined taste profile.”

The Golden Mirage Limited Edition Box is now stocked at designated outlets throughout Uttar Pradesh, Uttarakhand, Haryana, Rajasthan, Punjab, Chandigarh, Himachal Pradesh, Madhya Pradesh, Maharashtra, Goa, Daman, Karnataka, Telangana, Puducherry, West Bengal, Odisha, and Assam, providing consumers with the chance to savor the royal narratives and captivating flavors of Jaisalmer Indian Craft Gin.

Continue Exploring: Radico Khaitan reports 22.75% rise in Q3 net profit, revenue surges by 34.1%

Starbucks launches first eco-friendly store in India, receives prestigious ‘Greener Store of the Year’ award in Asia Pacific region

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April 2, 2024

Starbucks has unveiled its first Greener Store in India and has also been recognized as the ‘Greener Store of the Year’ in the Asia Pacific region. Located in Ayali Kalan, Ludhiana, Punjab, and operated in partnership with Tata Starbucks, the Sunview Enclave store aims to reduce Starbucks’ environmental impact through the use of sustainable practices and materials.

“The Sunview Enclave store, the first green store in Ludhiana, which has been honoured as the ‘Greener Store of the Year’ in the Asia Pacific region, demonstrates our commitment to promoting a cleaner, healthier future,” said Sushant Dash, CEO of TATA Starbucks.

“I eagerly anticipate interacting with customers to inform them about our efforts to raise awareness on climate change and the conscientious measures we’ve implemented in this store to minimize its environmental impact. This award allows us to celebrate and share this awareness with our customers,” commented Pankaj, the store manager of Starbucks Sunview Enclave in Ayali Kalan.

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

The store emphasizes efficient resource utilization by offering electric vehicle (EV) chargers, a rainwater harvesting system, and by recycling used coffee grounds as fertilizer for nearby developments. Beyond using energy and water-efficient appliances, the building embraces sustainable construction methods including the use of local clay bricks, advanced insulation, generous glazing for natural daylight, and roof overhangs crafted to reduce heat gain. Furthermore, it serves as an interactive center to raise awareness about climate change and motivate others to adopt eco-friendly practices. Through engaging displays, customers are inspired to make sustainable choices and adopt a greener lifestyle.

Starbucks has pledged to construct and retrofit 10,000 Greener Stores worldwide by 2025, marking a significant stride in advancing its commitment to hasten the global transition to a more sustainable future. Since the announcement of the international expansion of Greener Stores in September 2021, Starbucks has established a global framework comprising design, construction, and operational standards to certify new Greener Stores across the globe. As of March 2024, Greener Stores have received certification in over 40 markets worldwide, including India in the Asia Pacific region.

Continue Exploring: TATA Starbucks launches global favourite refreshers in India

Baskin Robbins expands beyond ice cream: Introduces all-day snacking options and new flavors for summer

SnackTeam

April 2, 2024

Baskin Robbins, the American multinational ice cream and cake chain, has broadened its focus from solely offering ice creams as dessert choices to now providing all-day snacking options.

The brand’s latest offerings for the summer feature doublet bars and ice cream funwich. Additionally, they have introduced two new flavors to their range of bite-sized ice creams: caramel biscuit and hazelnut.

“We are thrilled to spearhead the transformation of how consumers savour ice cream, shifting the focus towards snacking and making it the ultimate choice for every occasion,” stated Mohit Khattar, CEO of Graviss Foods Pvt. Ltd., Baskin Robbins’ master franchisee in India and the South Asian region.

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

The newly launched products can be found at all Baskin Robbins outlets, chosen e-commerce platforms, as well as in supermarkets and grocery stores.

Baskin Robbins made its entry into India in 1993 through a partnership with the Graviss Group. The first manufacturing facility outside of North America was established near Pune.

In the fiscal year (FY) 2024, Baskin Robbins achieved a 25% growth across various business-to-business (B2B) and business-to-consumer (B2C) channels.

The company presently runs more than 900 stores in 280 cities throughout India and the South Asian region. It is targeting the goal of launching 1,000 stores by the close of 2024.

Continue Exploring: Hindustan Unilever evaluates options for ice cream business future amid global restructuring by parent company

PepsiCo India to strengthen beverage production with new INR 1,266 Crore facility in Madhya Pradesh

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April 2, 2024

As part of its expansion strategy in India, PepsiCo India has announced plans to invest INR 1,266 crore in establishing a flavor manufacturing facility in Ujjain, Madhya Pradesh. Spanning 22 acres, the facility is expected to significantly enhance PepsiCo’s beverage production in the country, create employment opportunities, and have a positive impact on the local economy.

The new factory is expected to be functional by the first quarter of 2026, with construction expected to start in 2024.

PepsiCo India & South Asia CEO Jagrut Kotecha said, “With backing from the state government, we aim to expand our footprint while making impactful progress in improving the socio-economic landscape of the region.”

George Kovoor, Senior Vice President of Beverages at PepsiCo India, stated that the new facility will be the company’s second flavor manufacturing plant in India.

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“We intend to boost production to meet the rising demand for our beverages. Kovoor went on, “This strategic investment reaffirms our responsibility to advance sustainable practices throughout our entire business and our commitment to providing our customers with the best beverages possible.”

PepsiCo’s first flavor manufacturing facility in India is located in Channo, Punjab.

PepsiCo India stated that in alignment with its global sustainability objectives, the new manufacturing facility will run entirely on renewable energy sources, resulting in a significant reduction of 1.9 metric tonnes of carbon footprint per day.

Utilizing zero liquid discharge technology, the plant aims to achieve around 90% overall water efficiency. The company ensures responsible water resource management by replenishing 100% of the water used at the facility.

Continue Exploring: PepsiCo India appoints Jagrut Kotecha as new Chief

Lifestyle brand Assembly secures $2.1M from Prath Ventures, and other investors

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April 2, 2024

Aditya Khanna and Mohit Garg, Co-Founders, Assembly

Assembly, a New Delhi-based travel and lifestyle startup, has secured $2.1 million (approximately INR 17.4 crore) in an undisclosed funding round. The funding was spearheaded by Prath Ventures, with contributions from Anicut Capital, Blume Founders Fund, and several angel investors.

The startup plans to utilize the new funds to grow its team and product offerings, with an increased emphasis on marketing and branding efforts.

Established in 2019 by Aditya Khanna and Mohit Garg, Assembly provides mass-premium luggage, backpacks, and travel accessories designed specifically for the modern traveler.

“This year, we want to connect with a larger audience and expand our range of offerings,” he said.

Continue Exploring: D2C luggage brand Mokobara secures $12 million in funding from Peak XV Partners, existing investors

The startup also made an appearance on Shark Tank Season 3, showcasing their impressive track record of assisting over 200,000 travelers in the past three years. They aim to establish themselves as India’s premier and most considerate travel store within the next 2 to 5 years. Despite their ambitious vision, the founders were unable to secure any deals during their appearance on the show.

Prath Ventures, founded in May 2022 by Piyush Goenka and Harmanpreet Singh, backs early-stage consumer businesses and their supporting entities. With an objective to invest fresh capital in around 15 startups, Prath Ventures is dedicated to driving growth and innovation within the consumer sector.

According to Prath Ventures vice president Saptarishi Sen, “Assembly is well-positioned to capitalise on this developing trend thanks to its strong supply chain skills and attractive design. Our collaboration with them to create a cutting-edge competitor brand in the luggage industry excites us.”

This is the third investment made by Prath Ventures from its inaugural fund, which recently reached its second closing at INR 225 Cr. Previously, the fund had invested in the D2C F&B startup, Jimmy’s Cocktails.

Continue Exploring: Safari Industries raises INR 229 Crore in funding from Lighthouse’s AIF, eyes expansion in Indian luggage market

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