Metro Brands Ltd (MBL) has announced an extension of its partnership with Crocs India Ltd (CIL), with adjustments made to the terms of their agreement. Under the renewed arrangement, MBL gains exclusive rights to own and operate Crocs “full price” stores across the western and southern states of India. This strategic move underscores MBL’s commitment to expanding its retail presence and potentially strengthening its market position in these key geographical areas.
The company released a statement saying, “The renewal has been finalised through a retail partnership agreement, with a few modifications in agreement terms, most important being granting MBL exclusive rights to operate and own Crocs “full price” stores across the western and southern States in India along with increase in residual balance term of the contract.” Additionally, it will be able to “continue, renew and operate all existing stores” that are presently running in India’s northern and eastern states.
It said, “Therefore, the current Non-Exclusive Retail Licence Agreement, signed between the organisation and Crocs India on April 25, 2015, stands superseded.”
The collaboration, which commenced in 2008, initially introduced Crocs’ products into MBL’s multi-brand outlets. In 2015, the brands formalized a non-exclusive retail license agreement, empowering MBL to distribute Crocs products across India. Presently, MBL oversees a network of over 200 exclusive Crocs stores.
Sumit Dhingra, Vice President and General Manager for India, the Middle East, and Africa at Crocs, expressed, “Metro Brands has demonstrated exceptional skill in enhancing Crocs’ visibility in India. They have been instrumental in conveying our distinctive value proposition centered around self-expression, personalization, and iconic comfort, resulting in a retail experience that strongly connects with Indian consumers. As our esteemed partners, they have played a crucial role in our achievements. We are enthusiastic about continuing this journey together, expanding our outreach, and unlocking further possibilities for our customers in India.”
Nissan Joseph, CEO of Metro Brands Ltd, remarked, “Our collaboration with Crocs has been exceptionally rewarding, and we are primed for continued growth in enhancing Crocs’ footprint in our nation. At Metro Brands, we are unwavering in our commitment to delivering a top-tier retail experience and becoming the go-to destination for customers’ footwear needs. The path forward is brimming with boundless opportunities and achievements, and we are confident in the exciting future that lies ahead with Crocs.”
Metro Brands retails its Indian labels like Metro Shoes, Mochi, and Walkway, alongside renowned international brands such as Crocs, Fila, and FitFlop. Additionally, the company has unveiled a recent strategic collaboration with the US-based footwear powerhouse, Foot Locker.
On World Idli Day today, Swiggy announced that a customer from Hyderabad has indulged in idlis worth INR 7.3 lakh over the past 12 months, showcasing a true love for this South Indian delicacy.
In a statement, the company revealed that the prime time for ordering idlis falls between 8 a.m. to 10 a.m. Moreover, consumers from cities like Bengaluru, Hyderabad, Chennai, Coimbatore, and Mumbai also enjoy this delicacy during dinner hours.
Bengaluru, Hyderabad, and Chennai emerged as the top three cities for idlis orders, followed by Pune, Mumbai, and Coimbatore, Delhi, Vizag, Kolkata, and Vijayawada.
The plain idli stands out as the most favored variation across all cities, with a plate of two pieces being the predominant choice among consumers.
Swiggy stated that Rava idli is especially popular in Bengaluru, while ghee/neyi karam podi idli is preferred in Tamil Nadu, Andhra Pradesh, and Telangana. Additionally, Thatte idli and mini idli consistently secure their place among idli orders across various cities.
Idlis hold the position of the second-most ordered breakfast item on the platform, trailing closely behind masala dosa.
According to the online food delivery platform, the top five restaurants renowned for their idlis are Asha Tiffins in Bengaluru, A2B – Adyar Ananda Bhavan in Bengaluru and Chennai, Varalakshmi Tiffins in Hyderabad, Sree Akshayam in Chennai, and Veena Stores in Bengaluru.
Following the outstanding success of the internationally acclaimed Indri-Trini, India’s premier triple cask single malt, Piccadily Distilleries is excited to unveil another prestigious accolade for India. Their cask strength offering, Indri Dru, has been honored with the ‘Best Indian Single Malt’ award at the World Whiskies Awards 2024. Less than a year since its debut in 2023, this exceptional cask strength whisky is set to revolutionize the whisky experience for both connoisseurs and enthusiasts.
“Dru” translates to “wood” in Sanskrit. Indri Dru pays homage to the sacred drink “soma,” which, according to ancient Indian mythology, was offered to the Gods and stored in wooden vessels or “dru.” Meticulously crafted with precision and passion, Indri Dru is the culmination of a thoughtful selection and blending of handpicked Ex-Bourbon barrels. This whisky matures in the subtropical climate of northern India, where the elements infuse it with distinctive characteristics.
With a potent 57.2% ABV, Indri Dru showcases a powerful and alluring aroma. When you take a whiff, you’ll encounter a pleasing blend of mixed fruits, underscored by delicate traces of vanilla, mild spice, and undertones of chocolate and honey. This enticing aroma paves the way for an exceptional tasting journey.
Indri Dru tantalizes the palate with a sweet, fruity forefront, seamlessly evolving into gentle spices and luscious vanilla. Delightfully, hints of chocolate and woody undertones emerge, accompanied by citrusy nuances that enrich the whisky’s character. The finale is robust, intricate, leaving a lingering blend of fruity delights that are bound to captivate and gratify even the most refined tastes.
Siddhartha Sharma, Founder, Piccadily Distilleries, said, “Securing the ‘Best Indian Single Malt’ award marks a significant milestone, highlighting India’s excellence in whisky craftsmanship on a global scale. We are confident that Indri Dru will captivate whisky aficionados, offering them an unforgettable experience. This triumph not only celebrates our distillery but also reinforces India’s position as a prominent contender in the global whisky industry.”
The World Whiskies Awards undergoes a meticulous three-round judging process, with a panel composed of leading international journalists, industry experts, and specialist drink retailers. This evaluation includes entries from various regions worldwide, such as the United Kingdom, the United States, Denmark, Australia, Canada, India, Japan, Ireland, Scotland, Korea, and more.
Indri Dru has previously garnered acclaim and accolades, notably receiving a commendatory review from the prestigious International Wine and Spirits Competition in 2023. It was hailed as a harmoniously balanced whisky, brimming with rich aromas and flavors. The panel of experts praised its delightful blend of sweet spice, dried fruit, and dark chocolate, leading to a smooth and enduring finish.
Pizza Hut, an American multinational pizza restaurant chain, is expanding its geographical presence and targeting a younger demographic in India, as per a company official.
“We’ve embarked on an aggressive expansion drive, launching more restaurants in the last two years than we have in the past two decades combined. We’re well-positioned to sustain this growth trajectory,” stated Merrill Pereyra, managing director of Pizza Hut Indian Subcontinent.
At present, the brand oversees more than 850 Pizza Hut eateries throughout India. Among these, over 300 restaurants are designated as Fast Casual Delco (FCD) outlets, catering to the rapid lifestyles of busy, on-the-go consumers.
The company disclosed that FCD establishments seamlessly integrate dine-in, delivery, and takeaway services, utilizing advanced technology such as Bring Your Own Device (BYOD) ordering. The open-kitchen layout guarantees transparency in food preparation, fostering greater trust among customers.
“To appeal to an even broader consumer demographic, it’s imperative for us to continually expand and enhance our menu strategically. This ensures our offerings remain relevant and accessible to our audience, who are seeking products that effortlessly integrate into their busy lifestyles,” Pereyra expressed.
India, being a market sensitive to pricing, boasts a diverse array of tastes and preferences. Hence, the brand is concentrating on providing value-oriented offerings tailored to suit the palates of Indian consumers.
In a recent move, the brand has entered a new category in the Indian market with the introduction of Melts. Commenting on this expansion, Pereyra stated, “The addition of Melts to our menu represents a substantial stride in our commitment to providing value offerings. This adaptable product has garnered acclaim from consumers globally, and we’re optimistic it will emerge as a top seller in India too.”
Amrut Distilleries has attracted investment interest from numerous parties; however, it has not considered altering its shareholding structure, especially as the Indian single malt whiskey business is experiencing growth due to a premiumisation trend in the country.
Rakshit N. Jagdale, the managing director of Amrut Distillers, disclosed that the company has garnered interest from numerous investors lately, though he didn’t provide specific details. Currently, the company has no plans to go public on the stock market, but its focus remains on expanding exports and capturing a larger market share.
Jagdale added that currently, single malt whisky contributes approximately 25% to 26% of the annual turnover of INR 500 crore. He anticipates that the share of this premium category will rise to 35-40% of the total turnover within the next five years.
According to preliminary estimates from the Confederation of Indian Alcoholic Beverage Companies (CIABC), Indian single malts captured approximately 53% of total sales in 2023. Out of the roughly 675,000 cases (each containing nine liters) of single malts sold in India last year, Indian producers accounted for about 345,000 cases, while Scottish and other producers made up the remaining 330,000 cases.
As domestic single malts gain popularity among consumers, global giants are also introducing local brands. For instance, Pernod Ricard launched Longitude 77 and Diageo introduced Godawan, among others.
Nevertheless, Jagdale remains undeterred by the entry of global giants into this market. He believes this will only stimulate industry growth, viewing it as a positive development.
“The entry of both Diageo and Pernod into the Indian single malt whisky market speaks volumes about the potential of this category,” he commented. “We view this positively and anticipate robust growth in the Indian single malt category. What we’ve observed is a shift in consumer preference towards quality over quantity in alcohol consumption.”
This indicates the growing demand for Indian single malt whiskey and the necessity to meet this demand. The increasing popularity of Indian single malt is a positive trend for domestic companies like ours, which have been offering unique products and serving the market in this category for two decades,” Jagdale stated. He further added that the entry of global companies presents an opportunity for local firms.
“The category is growing and will keep growing on a global scale. Since Indian single malt whisky has been commended for its quality, we can now compete with Scotch, Irish and even Japanese whisky’, the official said.
Jagdale also mentioned that there is ample room for the single malt business to expand, with the Indian market for single malt growing at a rate of 12% year on year.
Jagdale stated that India’s increasing wealth and preference for premium and quality products are expected to further bolster the growth of the category.
Rising income levels could lead to a rise in sales. The growth potential for major alcoholic beverage companies in India is remarkable. There has been an upsurge in both the export and import of alcoholic beverage products. Presently, our annual exports of single malt whisky amount to INR 35 crore, and this figure is expected to increase further.
According to ICRA, a credit rating agency, the Indian alcoholic beverages industry is poised for improved margins and higher sales in the fiscal year 2025.
ICRA predicts that several indigenous alcoholic beverage (alcobev) companies will see revenue increase of 8–10% in FY2025. A rise in volume of approximately 3-5% and a growing inclination towards premium products are expected to propel an 11–13% gain in revenue for Indian produced foreign spirits (IMFL) producers.
Amrut, the maker of the acclaimed single malt, has earned global recognition and awards for its signature product. This achievement has motivated other Indian brands to aim for increased competition and expansion.
In 2022, Indian and Scotch brands directly competed, with the former selling around 281,000 cases, indicating a 2.4 percent growth in sales. In contrast, the latter sold 296,000 cases, showing a notable 35 percent rise in sales, according to the data.
Amrut stole the limelight in 2022’s top-selling offerings, surpassing Glenlivet with two of its products, closely followed by Paul John. Leading the pack was Amrut Fusion with 99,000 cases sold, while Amrut Amalgam followed closely with 94,000 cases.
However, the alcohol industry in India faces challenges due to varying state tax rates and weather-related disruptions.
In contrast to Scottish single malt, India’s environment presents a unique challenge for desi single malt: the angel’s share. This term refers to the alcohol that evaporates while being matured and aged in wooden casks before being distilled into whisky. When spirits age in casks kept in dark cellars, the industry tradition goes that “angels come to sip their share of alcohol.” In the negotiations for a free-trade deal, this disagreement has turned into a point of contention between India and the UK.
Nevertheless, Amrut believes that you ought to work with what you have and aiming for the best possible result. They also mentioned the various state taxes that exist, even in US markets.
The Indian Alcobev market is subject to government regulation, which means it is a heavily regulated and taxed sector. It offers chances as well as problems, according to the company. It further stated that better business ease will result from some states updating their excise laws.
Regarding the FTA, Jagdale commented that the India–UK FTA will change the alcobev landscape in our country. The prices of products bottled at the origin will decrease, but the Indian single malt category, which boasts quality on par with Scotch, is prepared for this shift.
Amrut is also currently increasing its distillery capacity with a capital expenditure of around INR 10 crore.
China has lifted hefty tariffs on Australian wine, as announced by its Ministry of Commerce.
The decision ends three years of punitive taxes that have inflicted severe damage on certain winemaking regions in Australia.
After months of speculation, it was suggested in a November review that the anti-dumping and anti-subsidy tariffs might be lifted, indicating a reduction in trade tensions between the two nations.
Earlier this month, Treasury Wine Estates announced that they had received an interim draft of proposals, fueling rumors that a change was imminent.
The owner of the Penfolds brand welcomed the news and laid out its intentions to promptly resume operations in China.
Tim Ford, our CEO, stated, “The removal of tariffs on Australian wine exports to China is wonderful news and a reason for celebration across the Australian wine industry, as well as among our partners and customers in China.”
“It demonstrates the ongoing stabilisation of relationship between both countries and the longstanding partnerships upheld between Australian businesses and our Chinese counterparts.”
Treasury’s strategy involves reinstating distribution channels for Penfolds’ entry-level Australian portfolio, which includes brands such as Penfold’s Max’s, Koonunga Hill, and One by Penfolds.
Addressing analysts after the company’s financial year 2023 results last August, Ford mentioned that “prudent” shipping flexibility had been incorporated into the second half of FY24 in anticipation of potential changes in Beijing.
The company will now redirect a portion of its Penfolds Bin and Icon wines from other countries and reinstate distribution for its “Australian-sourced priority portfolio” in China. This portfolio includes Rawson’s Retreat, a brand that was reportedly rebranded as a South African wine due to the tariffs.
In 2022, the prominent winemaker expanded the ‘multi-regionality’ of its Penfolds flagship brand by introducing a version sourced from China, thereby circumventing the trade barriers.
Treasury stated that despite the imposition of tariffs, it has upheld its dedication to the Chinese market. This commitment is demonstrated through the retention of a robust and experienced onshore team comprising over 120 individuals, sustained efforts to cultivate strong industry and customer relationships, ongoing investments in brand promotion, and the introduction and expansion of a multi-origin portfolio.
Valued at over AUD1bn (US$690m) annually at its highest point, the abrupt loss of the Chinese export market in late 2020 left some winemakers with full tanks during the harvest season.
In Wine Australia’s recent export report, released in February, the increasing shipments to Hong Kong stood out as a positive note in an otherwise challenging data set. While Australia’s total value and volume declined by 2% and 3% respectively, Hong Kong experienced a significant growth with a 74% increase in value and a 28% rise in volume.
Meanwhile, some businesses have been more hesitant about a swift return to trading.
Mark Lewis, the proprietor of Cape Landing in Margaret River, had said, “Once bitten, twice shy,” at the Wine Australia trade tasting held in London earlier this year. “I think that the key lesson for Australia is not to overly rely on the Chinese market, as its unpredictability has been showed.”
When the five-month review was announced last year, Sean Cunial, regional managing director for Asia at Accolade Wines, expressed optimism, stating, “I am hopeful about the opportunities for our business, the suppliers we collaborate with across Australia, and the industry as a whole, considering the historical demand for Australian wine among Chinese consumers.”
However, he added, “We are aware that the Chinese market has experienced significant shifts since the tariffs were imposed, with growing competition from wines of other countries.”
Giles Cooke MW, managing director of Alliance Wine, commented that the news was welcome “considering the broader challenges of oversupply and challenging market conditions.” He also mentioned that he had already observed tentative interest from Chinese importers.
However, he added, “Much has changed since the tariffs were implemented, and the relationship between Australian wine businesses and China will undoubtedly be more cautious in the future.”
“Mature, sensible business practices will be highly appreciated, but Australia should not lose sight of focusing on the long-term sustainability of its wine industry,” he remarked.
“One of the results of this focus is undoubtedly the decrease in the overall grape crush, the establishment of solid foundations for the market, and an increased emphasis on obtaining genuine, long-term premiums for the quality of its finest wines,” he noted.
Earlier this month, the Indian embassy in Beijing, China, organized a whisky tasting event. During the event, attendees were treated to a selection of seven distinct Indian whisky brands, each paired with traditional Indian delicacies. The official X handle of India in China shared highlights of the event on their social media and uploaded images capturing the gathering.
“The Indian Embassy in Beijing hosted an amazing Indian Whisky Tasting Event on March 5th, which included seven outstanding whiskies like Amrut, Paul John, & Indri. A step towards introducing the world to more of India’s finest!” the tweet from India in China stated.
They said,”The event, inaugurated by Ambassador Mr. Pradeep Kumar Rawat, welcomed whisky experts and enthusiasts from China to taste seven exceptional Indian whiskies.” The tasting followed by a supper of Indian cuisine that went nicely with the whiskies.
In the shared images, Mr. Pradeep Kumar Rawat can be observed addressing the event. Additionally, other photos capture individuals sampling various types of whiskies.
On March 5, Embassy of India in Beijing hosted a remarkable Indian Whisky Tasting Event featuring 7 exceptional whiskies from Amrut, Paul John, and Indri. A step towards introducing more of India's finest to the world! pic.twitter.com/1263wvvfoA
This post was published on March 27. Since its release, the original tweet has garnered over 5,000 views. The post has also received a significant number of likes and comments. Many individuals have engaged in the comments section to express their reactions.
One person commented, “With Indian whiskey comes the quintessential chakhana! That’s how you know this was an Indian event.”
In an effort to boost revenue and regulate alcohol usage, the Assam Excise Department has announced an increase in liquor prices, which would take effect from April 1, 2024.
According to the new regulations, consumers can anticipate a minimum increase in beer prices ranging from INR 33 to INR 43 per 650 ml bottle.
Likewise, prices for domestically produced spirits will experience a fluctuating increase depending on the brand category, with minimum prices set to reach INR 530 for a standard 750 ml bottle.
The ramifications of the price modification go beyond civilian transactions to encompass purchases through Canteen Store Depots (CSD) and wholesale warehouses serving paramilitary forces.
Nevertheless, the tax rates for these outlets will be slightly reduced in comparison to civilian transactions.
In these sectors, the price of beer is expected to rise by at least INR 16 to INR 20 per 650 ml bottle. Meanwhile, the cost of India-produced spirits could increase to as much as INR 262 for a 750 ml bottle.
The Assam Excise Department’s decision comes as part of efforts to standardize alcohol pricing policies and regulate consumption patterns.
After a successful foray into the boutique hospitality sector with Bhumi Pednekar last year, and making a mark in the concept restaurant scene with Mumbai’s renowned Gigi, Chrome Asia Hospitality is thrilled to announce its latest venture – Lyla.
Spanning 4,500 sq. ft., Lyla emerges as a stylish yet laid-back dining destination that seamlessly transforms into a lively cocktail bar as night falls. Inspired by the vibrant ambiance of Central America infused with a California spirit, the venue boasts a fusion of indigenous Indian, Afro-Latin, and Spanish design elements, complemented by abundant natural materials and vibrant splashes of color.
“We’re excited to introduce another F&B concept in BKC, a neighborhood we’re deeply familiar with and have extensive experience in. Lyla has been a labor of love for our team, and we’re eager for guests to enjoy delicious Mexican cuisine, cocktails, and the unique ambiance, filling the void for a distinctive all-day bar in the area. This marks the next phase in our journey with concept restaurants, and we’re looking forward to unveiling more in the coming months,” shared Pawan Shahri, Founder of Chrome Asia Hospitality.
With Gigi, Chrome Asia Hospitality continues its journey towards leading the concept restaurant sector, aiming to open 12 outlets by 2025 in this segment.
After introducing some of Mumbai’s most sought-after dining destinations, Chrome Asia Hospitality has experienced a profitable journey, showcasing a significant 3X growth. Continuously strengthening its position, Chrome Hospitality aims to set new benchmarks in the hospitality industry.
Established in 2019, Chrome Asia Hospitality, founded by Pawan Shahri, Dhaval Udeshi, and Nikita Shahri, is a full-scale hospitality enterprise focused on creating experience-driven restaurants across the country.
Major jewellery retailers like Kalyan Jewellers, Tanishq, Malabar Gold & Diamonds, Joyalukkas, and Senco Gold are refraining from incorporating lab-grown diamonds (LGDs) into their collections due to low consumer demand and a reluctance to blend them with natural stones at their displays.
However, the excitement surrounding these stones, which are considerably cheaper than natural diamonds and virtually indistinguishable from them, is growing. This is evidenced by increased sales in markets like the US and the allocation of government stimulus funds in India.
Major retailers continue to believe that the local market is not prepared to embrace LGDs in the same way as the US. Artificial diamonds are commonly viewed as fashion jewellery rather than an investment with resale value.
Ramesh Kalyanaraman, the executive director of Kalyan Jewellers, stated that there has been minimal interest and the future of lab-grown diamonds remains uncertain. “Until demand and supply match up, we currently have no plans to venture into this,” he commented.
“Customers aren’t inquiring about LGDs in our stores. We haven’t seen any significant demand,” stated Suvankar Sen, the CEO of Senco, a publicly listed company.
Each of these leading brands operates between 150 to 200 stores. Furthermore, prominent retailers are hesitant to stock LGD jewellery alongside natural diamonds due to concerns about confusing their customers.
“If at all we enter this segment, which may not happen soon, it will likely be under an independent brand and at separate stores,” stated Sen. John McCain.
Kalyanaraman also highlighted the fluctuating international and domestic prices of these lab-grown stones, indicating that the chain would prioritize stable value propositions. Other major jewellers share this sentiment and are unlikely to venture into this category for the next four to five years.
According to provisional data from the Gem Jewellery Export Promotion Council for the current fiscal year (up to February), gross exports of polished LGDs decreased by 18.5% year-on-year to $1,278 million. In comparison, shipments of cut and polished natural diamonds for the same period saw a more significant decline of 28%. The global demand for LGDs is increasing due to economic challenges resulting from the Ukraine conflict, rising interest rates affecting purchasing power, and G7 sanctions on Russian diamonds.
Domestically, there is a substantial price difference. At the wholesale level, a carat of LGD is priced between INR 20,000-25,000. For retail, this could increase by anywhere from 30% to 100%. In contrast, one carat of natural diamond retails for INR 3-5.5 lakh.
“Despite this price difference, we’re seeing minimal demand from our customers,” commented Sen from Senco.
Joyalukkas CEO Baby George had the same opinion. “We need to wait and observe how the category progresses,” he stated. “As of right now, we have no plans to sell LGDs in our stores.”
Indian customers do look for value for money, but they also desire the prestige associated with fine jewellery made with natural diamonds, highlighted Rajiv Popley, director of Mumbai-based Popley & Sons. “With LGDs, that prestige is lacking,” he noted.
However, synthetic diamond manufacturers and retailers argue that the landscape is evolving.
Pooja Sheth Madhavan, the founder and managing director of Limelight Diamonds, commented, “Consumer confidence in India is increasing, and more than 50 LGD jewellery outlets have opened in just the past six months in major cities. We currently operate 10 stores in India. Our brand sales in FY24 saw a threefold increase compared to FY23.”
She mentioned that in 2023, 36% of engagement rings in the US were set with lab-grown diamonds, up from 17% in 2022.
The segment is also receiving support from the government. The 2023 Budget recognizes lab-grown diamonds as an emerging sector and provides incentives such as a research grant and reduced customs duty on seeds, aiming to reduce production costs.
Popley also highlighted the relatively low consumer awareness in the market regarding LGDs. “In the upcoming years, LGDs may evolve into a distinct category, which could benefit the overall gems and jewellery market,” he commented.
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