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.
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.
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.
“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.
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.
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.
Uttar Pradesh’s Bundelkhand district has received the first-ever Geographical Indication (GI) marking for a farm product.
Authorities announced on Monday that the indigenous wheat variety, commonly referred to as Kathiya Gehu (wheat), has been awarded the esteemed Geographical Indication (GI) tag.
Bhupesh Pal, the Assistant General Manager of NABARD Jhansi, stated that an application for the GI certification was submitted in January 2022 by a local FPO, Khatiya Wheat Bangra Producer Company Limited, with the backing of NABARD and technical guidance from Padma Shri awardee Rajnikant Rai, the director of Human Welfare Organisation in Varanasi.
Following a lengthy two-year process, the GI tag was issued with certificate number 585 on March 30, 2024.
“Getting the GI tag—the first for any farm commodity in the region—is a significant accomplishment for the Bundelkhand region. This will support the promotion of this locally grown wheat variety that is high in protein and requires very little irrigation, according to Pal.
Meanwhile, the director of research at Rani Lakshmi Bai Central Agricultural University (RLBCAU), S.K. Chaturvedi, stated that Kathiya wheat, or Durum wheat, is quite common in this area. It is healthier in addition to being high in nutrients since it is gluten-free.
He mentioned that it can thrive in harsh climatic conditions with minimal water requirements.
Kathiya’s GI tag validation will increase the brand value of the food and encourage the prosperity of the local farmers. “In collaboration with the International Centre for Agricultural Research in the Dry Areas (ICARDA), RLBCAU has initiated a larger study on wheat to obtain new varieties of seed that can increase its output,” said S.K. Chaturvedi.
The partnership aims to provide IndusInd Bank FASTags to Swiggy Instamart users in less than 10 minutes, establishing a new benchmark in convenience.
For the first time in the realm of rapid commerce and online shopping, customers can now get FASTags delivered directly to their homes. These FASTags will be available to Swiggy Instamart users in 29 cities.
Phani Kishan, Head of Swiggy Instamart, said, “FASTag represents seamless payment and convenience, and its accessibility should reflect that. Previously, acquiring a FASTag meant applying through a bank’s website or visiting a toll booth in person, resulting in waiting periods of 3 to 7 days for card delivery and activation. With FASTag now offered on Swiggy Instamart, users can obtain it anytime, anywhere, reducing the delivery wait time from days to less than 10 minutes.”
FASTags have become indispensable for modern car owners, with over 79.8 million FASTags issued in India as of November 2023. Park+’s innovative parking and vehicle management systems allow users to digitally pay tolls or parking fees without the need for cash transactions.
Amit Lakhotia, Founder & CEO of Park+, stated, “At Park+, our primary goal is to reintroduce joy into car ownership. In line with this mission, we have collaborated with Swiggy Instamart to expedite the process for car owners purchasing a FASTag.
As the leading distributor of FASTags in India, we are well-equipped to bridge the existing gaps in the FASTag ecosystem. Our strong partnership with IndusInd bank enables us to provide IndusInd FASTags to customers in under 10 minutes, thanks to Swiggy Instamart.
Additionally, we are actively working with pertinent FASTag issuing partners to educate users on FASTag purchase, renewal, recharge, and more. We remain committed to enhancing the car ownership experience for owners throughout the lifespan of their vehicles and eagerly seek partnerships with other external stakeholders to support us in this initiative.”
The collaboration between Swiggy Instamart and Park+ aims to fill an important market gap by providing a quick and convenient solution for obtaining FASTags.
The Board of Directors at Aditya Birla Fashion and Retail Ltd (ABFRL) has granted approval for the company’s management to assess the possibility of vertically demerging Madura Fashion & Lifestyle business from ABFRL to establish it as an independent listed entity.
In a statement, the company announced that the planned demerger would facilitate the formation of two distinct listed companies, each serving as an independent growth driver with unique capital structures and opportunities for value creation.
The Madura Fashion & Lifestyle business segment (MFL) will be split off into a separate listed company. The MFL consists of four main brands: Van Heusen, Allen Solly, Peter England, Louis Philippe; it also includes casual clothing labels American Eagle and Forever 21, athletic company Reebok, and Van Heusen’s innerwear branch.
“The company’s robust financial position will support its goals for future expansion. The demerger will be accomplished through an NCLT plan of arrangement when the required permissions are obtained, and all ABFRL shareholders will have the same number of shares in the newly minted organisation”, according to the statement.
Following the demerger, ABFRL will pivot its focus towards segments witnessing a transition from unbranded to branded goods, premiumization trends, the surge in super-premium and luxury markets, and the rapid expansion of Gen Z-oriented digital-first brands, as per the company’s statement. The post-demerger portfolio of ABFRL is expected to encompass value and masstige fashion retail represented by Pantaloons & Style Up, an ethnic wear portfolio, a bridge to luxury and luxury platform comprising The Collective, Galleries Lafayette, and select luxury brands, alongside the digital brand TMRW.
ABFRL plans to enhance its balance sheet by raising growth capital within a year of the demerger’s completion. “Over the years, our fashion and retail business has evolved from 5 brands in 2 categories to a dynamic portfolio of 20+ brands across all lifestyle categories,” stated Kumar Mangalam Birla, Chairman of the Aditya Birla Group. This portfolio’s development has smoothly followed the changes in consumer preferences, with a strategy that takes advantage of every significant opportunity for wealth creation. There’s room to reassess capital structures as the platform moves into its next transformative phase of expansion, optimising various portfolio components. The shift to an architecture that is more streamlined and straightforward is intended to open up new possibilities for value creation. This tactical realignment has the potential to greatly enhance long-term stakeholder value.
“The overhaul will facilitate a more targeted approach, supported by a unique strategy catered to each business segment,” stated Ashish Dikshit, MD of Aditya Birla Fashion and Retail Ltd. Under the direction of each CEO, these companies have all continuously operated independently.” The fashion and apparel industry in India is estimated to be worth over $100 billion and is expected to grow at a double-digit rate in the long run. This simplified organisation best positions the companies for steady expansion and value addition.”
“This funding allows us to advance our mission of offering personalized, effective solutions to meet the distinct hair-related needs of each person. We are committed to assisting individuals in managing hair loss and restoring their confidence,” stated Saloni Anand, co-founder of Traya.
The company did not provide details regarding the allocation of the funds. However, it asserted that it has amassed over one million customers utilizing its products.
“Traya has acquired proficiency in comprehending hair loss and has showcased achievements in addressing it through inventive blends of Ayurveda, Allopathy, and Nutrition. Our decision to invest in Traya aligns with Xponentia’s strategy to support rapidly expanding and profitable digitally native consumer brands,” remarked Rahul Bahri, Director at Xponentia Capital.
Several consumer brands, particularly in their early stages, have successfully secured funding in recent months. Last month, skincare company Foxtale Consumer raised approximately $14 million, and beauty products and content firm Good Glamm Group raised around $30 million via a rights issue, maintaining a consistent valuation of $1.2 billion.
As of March this year, The Fresh Press has become part of the first cohort of Gruhas Gusto – a foodtech accelerator program by Gruhas, Jubilant Family Office, DLF Family Office, and Anthill Ventures.
With the help of Gusto Accelerators and GCCF, we plan to increase our presence across the country. We believe current funding will enable us to expand our team as well,” said Morea.
With a projected annual growth rate of 7.54%, the cold-pressed juices industry is projected to reach $1.5 billion globally by 2030. Because of rising retail footprint and consumer demand for nutrient-dense fruit juices, the Indian market is flourishing, with a startling 25.43 percent growth rate projected between 2021 and 2028 “. Lodha continued.
The co-founders declined to disclose the amount the brand has raised when questioned.
At present, the brand exclusively conducts online operations in Mumbai through platforms like Swiggy and Zomato. However, it is set to expand its reach to Hyderabad, Bangalore, Chennai, and Delhi in the near future. With a presence in 9 cities, the brand boasts a total of 36 stores, including 24 shop-in-shops and 12 high-street stores.
Additionally, the brand has formed strategic partnerships with PVR-INOX and Reliance, enhancing its market presence and expanding accessibility to a broader audience.
“We want to open 150 stores in the next 18 months, of which 120 will be shop-in-shops and 30 will be high-street stores,” revealed Lodha.
The shop-in-shop stores of the brand cover an area of 100 square feet, while the high-street stores span 250 square feet.
“The capital expenditure required to open a shop-in-shop is approximately INR 5–6 lakh, while the high-street business requires an investment of INR 15 lakh. Shop-in-shop is currently a better choice for us to plug and play,” said Lodha.
Currently, the average order value for the brand is INR 300 at the shop-in-shops and INR 200 at the high-street stores.
During this fiscal year, the brand’s goal is to extend its market reach to cities including Hyderabad, Bangalore, and Chennai, as well as targeting additional regions such as Gujarat, Rajasthan, and Delhi.
“Our plan calls for additional growth into India over the next three years, with a particular emphasis on tier II and tier III cities,” said Lokha.
“Moving forward, we are also strategizing to collaborate with a network of gyms and fitness establishments,” Morea added.
The brand generated revenue of INR 3 crore in FY 22-23, which increased to INR 7.5 crore by the end of the last fiscal year. This fiscal year, it aims to reach INR 15 crore in revenue.
As of right now, our EBITDA is 10%,” the co-founders asserted.
Mithil Lodha and Rahul Jain co-founded the brand in 2019, later joined by actor-entrepreneur Dino Morea, who became an investor and co-founder.
SOCIAL recently unveiled its 53rd establishment, Rajouri Garden SOCIAL, nestled in the vibrant heart of Rajouri Garden, West Delhi. Embracing the essence of Delhi with its distinctive blend of ambiance, Rajouri Garden SOCIAL promises to enrich the social and community landscape of West Delhi.
Drawing inspiration from the vibrant culture of Rajouri Garden market, the new venue is crafted to embody the urban essence that characterizes West Delhi. Rajouri Garden SOCIAL offers guests a sensory adventure, blending mechanical elements and local market aesthetics reminiscent of the lively ambiance of Old Rajouri Garden, complete with its playful charm. The space exudes nostalgia and warmth, featuring a lengthy alley that mirrors the bustling streets of the renowned Rajouri market, beckoning visitors to embark on a journey of exploration.
With thoughtfully designed booths, Rajouri Garden SOCIAL will provide its visitors a special fusion of privacy and community spirit, creating a calm haven amidst the busy atmosphere of a marketplace. The outlet seeks to capture the spirit of serenity amid chaos by reflecting the ups and downs of daily living.
SOCIAL has partnered with Gurpreet Singh Tikku, a prominent figure in Delhi’s F&B scene, to introduce the thrilling “Tikku Ji ka Tikka” to the people of Delhi. This culinary delight is a collaborative creation of Mister Tikku and Chef Shamsul Wahid, Group Executive Chef at Impresario Entertainment & Hospitality Pvt. Ltd.
According to Mayank Bhatt, CEO of Impresario Hospitality & Entertainment Pvt. Ltd., “We are excited to bring Rajouri SOCIAL to the ever-vibrant West Delhi.” “Rajouri Garden SOCIAL embraces the market atmosphere of West Delhi with a unique twist, in true SOCIAL style. We currently operate 15 SOCIAL stores in major cities throughout North India, including Chandigarh, Dehradun, Gurugram, Noida, and New Delhi. The opening of our newest SOCIAL location in Rajouri Garden, a quaint neighbourhood that is well-known in the city, adds to its significance. With its inventive design and unique ambiance, Rajouri Garden SOCIAL aspires to be a gathering place for Delhiites to mingle, meet, and create lifelong memories.”
Zomato continues to face mounting challenges, as the foodtech company has been ordered to pay a service tax of INR 92 Cr. This comes just a day after receiving a GST notice of INR 23.26 Cr for FY19 from tax authorities in Karnataka.
Zomato has been instructed to pay a service tax amounting to INR 92,09,90,306, along with applicable interest and a penalty of the same amount, as stated in the company’s regulatory filings.
The directive has been issued in accordance with Regulation 30 of the Listing Regulations by the Commissioner, Adjudication, Central Tax, Delhi, covering the period from October 2014 to June 2017.
The sum has been calculated based on sales conducted by the company’s foreign subsidiaries and branches to customers located outside of India.
The notification stated, “Company (Zomato) had clarified the allegations along with supporting documents and judicial precedents in its response to the show cause notice, which seems to not have been appreciated by the authorities while passing the order.”
As mentioned, Zomato is confident in its ability to present a compelling case to the appropriate appellate authority and foresees no financial repercussions for the company.
Zomato has been consistently receiving tax-related notices from the government in recent months, including a GST penalty notice of INR 8,57,77,696 from Gujarat’s Deputy Commissioner of State Tax in March 2024, and a show cause notice of INR 401.7 Cr from the Directorate General of GST Intelligence, Pune Zonal Unit, concerning unpaid tax on delivery charges collected from customers between October 29, 2019, and March 31, 2022, issued in December 2023.
Despite the ongoing tax concerns, Zomato issued a total of 15,16,229 stock options to eligible workers through the Foodie Bay Employee Stock Option Plan 2014 (“ESOP 2014”) and the Zomato Employee Stock Option Plan 2021 (“ESOP 2021”).
The granted stock options cover 30,30,203 equity shares having a face value of INR 1 apiece, as per the regulatory filing. This includes any necessary changes resulting from company actions as specified in the ESOP programmes.
In the September quarter of the fiscal year 2023–24 (FY24), Zomato reported its second consecutive profitable quarter, with a profit after tax (PAT) of INR 36 Cr. Compared to the prior quarter’s PAT of INR 2 Cr, this represented an 18-fold rise.
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