Popcorn & Company scores big with INR 75 Lakh investment on Shark Tank India 3

March 23, 2024

Popcorn & Company, a gourmet popcorn brand, landed an investment worth INR 75 lakh in the recent episode of Shark Tank India 3, currently streaming on the OTT platform Sony LIV. The brand secured a significant investment from Ms. Namita Thapar, Executive Director of Emcure Pharmaceuticals, one of the sharks on the show.

Founded in 2020 by Vikas Suri, Popcorn & Company aims to establish itself as India’s leading gourmet popcorn brand. The brand emphasizes its dedication to sourcing top-quality ingredients and maintaining consistency to provide customers with an exceptional popcorn experience. With a diverse range of over 12 varieties of Butterfly and Mushroom popcorns, complemented by a wide selection of both international and Indian flavors, Popcorn & Company has quickly made a name for itself in the market.

The company will use the newly acquired funds to strategically enhance stock inventory and bolster marketing initiatives. This strategic allocation aims to position the company for rapid expansion and increased market penetration.

Continue Exploring: upliance.ai hits 5 million sales mark in just 30 days following Shark Tank appearance

Vikas Suri, CEO and Founder of Popcorn & Company, shared his excitement about the investment, saying, “Our goal is to transform snacking by creating flavors influenced by India’s rich culinary heritage. Securing this investment is a significant milestone for us. It reflects confidence in our vision and the unwavering dedication of our team. With the Sharks now on board, we are poised to elevate Popcorn & Company to new levels.”

With a steadfast dedication to quality, innovation, sustainability, and customer satisfaction, Popcorn & Company is positioned to significantly influence the future of the popcorn market in India. Particularly, the company’s Movie Night Kit provides a distinctive and convenient way to savor gourmet popcorn at home, ideal for preparation in a microwave or pressure cooker. Perfect for family get-togethers or relaxed snacking moments, the Movie Night Kit is sure to captivate snack lovers with its variety of flavors and experiences.

Continue Exploring: The Cinnamon Kitchen’s INR 60 Lakh ‘Shark Tank’ deal marks a sweet success for the bakery

Kritunga Restaurants teams up with 91Squarefeet, plans to launch 15 new outlets in Southern India

SnackTeam

March 23, 2024

Kritunga Restaurants, renowned for its authentic South Indian cuisine, plans to launch over 15 outlets in southern cities such as Bengaluru, Hyderabad, and Chennai. Through a strategic partnership with 91Squarefeet, a rapidly expanding commercial fit-out services company backed by Y-Combinator, Kritunga aims to enhance the dining experience for its customers and improve operational efficiency.

This collaboration marks a turning point in restaurant design as it seeks to improve the dining experience at every Kritunga location globally. Leveraging 91squarefeet’s expertise, the revamped design emphasizes efficient layouts to increase seating capacity, all while maintaining customer comfort.

Continue Exploring: Soma – India’s first Ayurvedic restaurant in Delhi serves tailored meals post health check-ups

The interiors will feature captivating designs that align with Kritunga’s brand and cultural essence. Improved flow management will boost service efficiency for both patrons and staff, and the kitchen areas will prioritize functionality and safety. Sustainability is at the forefront, with the incorporation of eco-friendly design components. The flexible spaces are designed to meet diverse needs, and cohesive branding ensures a memorable dining experience for all.

Ananth Mandra, Managing Partner of Kritunga Restaurants and Franchise, commented, “We are launching over 15 new outlets in Hyderabad, Chennai, and other cities in the south. We are thrilled to collaborate in establishing new benchmarks in restaurant design and ambiance, enhancing the dining experience for our customers.”

91Squarefeet will be instrumental in shaping Kritunga’s expansion initiatives, handling everything from defining brand identity and enhancing ambiance to executing on-site tasks with precision and efficiency, paying careful attention to every detail.

Continue Exploring: 5 Indian restaurants shine in Asia’s 50 Best Extended List for 2024

Amit Bansal, the founder and CEO of 91Squarefeet, shared his excitement about the partnership, saying, “Our competitive edge lies in our speed, and we are continuously dedicated to technological innovation in project management and the skill enhancement of our team to further expedite project execution. We are excited to collaborate with Kritunga and contribute our expertise to their expansion endeavors. By merging our innovative strategies with Kritunga’s commitment to delivering outstanding dining experiences, we aspire to design spaces that not only enchant customers but also enhance operational efficiency and distinguish the brand.”

SSBeauty raises the bar with launch of India’s largest beauty store in Kolkata

SnackTeam

March 23, 2024

SSBeauty, the beauty retail wing of Shoppers Stop, has inaugurated India’s largest beauty store. Situated on the first level of Quest Mall in Kolkata, this expansive outlet spans an impressive 9,000 square feet of retail area.

“I’m delighted to introduce the biggest beauty store in the country! Biju Kassim, Chief Executive Officer, Shoppers Stop, said, “SSBeauty at Quest Mall reflects our dedication to offering a state-of-the-art shopping experience for today’s beauty aficionados.”

Continue Exploring: Shift in Indian beauty market: Fairness creams witness first decline as demand swells for radiance and hydration products

The store provides a wide range of products including makeup, skincare, fragrances, and men’s grooming essentials. Additionally, it boasts a specialized treatment room for facials and treatments, as well as a nail bar offering nail care and styling services.

It features an array of international brands such as Dior, Nars, Armani Beauty, Kilian, Laura Mercier, Givenchy, Clarins, Lancôme, Kiehl’s, Shiseido, Jo Malone, and Tom Ford, as well as popular Indian brands like Forest Essentials, Kay Beauty, Colorbar, and Kama Ayurveda.

SS Beauty launched its first standalone beauty store in Malad, Mumbai, in February 2022. Currently, it has expanded to operate 14 stores throughout the country.

Founded in 1991 by property developer K Raheja Corp, Shoppers Stop Ltd. opened its inaugural store in Andheri, Mumbai. With a presence spanning 106 department stores across 56 cities, the company also manages seven premium home concept stores named Home Stop, 88 specialty beauty stores featuring M.A.C, Estée Lauder, Bobbi Brown, Clinique, Jo Malone, Too Faced, and SSBeauty, along with 23 airport outlets and 18 Intune stores, encompassing a total area of 4.1 million square feet.

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

Amazon India adjusts seller fees, impacts various categories starting April 7

SnackTeam

March 23, 2024

In a significant move, Amazon India has informed its sellers about changes to its fee structures effective April 7. Several categories are expected to see increased fees based on the product price.

According to a report by Moneycontrol, the company notification stated that the updated fee structure encompasses alterations across different item categories, long-term storage fees, and refund fees.

It’s important to highlight that these fee modifications do not incorporate the 18% Goods and Services Tax (GST), which will be levied separately on the seller fee.

At present, sellers pay Amazon a fee that covers inventory storage, technology, shipping, returns, and a seller fee for each product sold through the platform.

Continue Exploring: Amazon rolls out enhanced generative AI for effortless product listing creation

Home improvement fees increased from 9% to 13.5%, luxury beauty shifted from a flat 5% to a tiered system reaching up to 10%, and sleepwear rose from 11-15% to 13.5-19%, marking some of the most significant hikes in seller fees. Additionally, fees for musical instruments rose from 7.5% to 10.5%, and for flipflops, they increased from 10-12.5% to 13-15%.

While some categories experienced fee hikes, the ecommerce giant also decreased fees for categories like inverters and batteries, dropping from 5-5.5% to 4.5%, as well as Baby Apparel, which went from 11-21% to 11-20%, among others.

Amazon’s changes to seller fees will impact major companies such as Mamaearth and BoAt, which depend heavily on e-commerce platforms for sales. Mamaearth, a leading brand in face washes and skincare, will experience a notable rise in seller fees. The costs for face washes will now be around 6-9% instead of 2.5-8%.

Likewise, fees for moisturizer creams, including those from Mamaearth, will rise from 2.5-8% to 6.5-9.5%. Even for sought-after items like sunscreens, fees will increase from 2.5-8% to 6.5-9.5%. This adjustment will also apply to other beauty products, with fees going up from 2.5-8% to 6.5-9%.

It is unlikely that Mamaearth, despite its large sales volume, will be treated differently and will be subject to the same seller fee increases.

In fact, we would be the most commonly treated in terms of players because we function as sellers on these platforms’, stated Varun Alagh, co-founder and CEO of Mamaearth, in February during the company’s Q3FY24 results announcement. As sellers, you function within the same framework that Amazon has established for all sellers in the nation.

Continue Exploring: Amazon India’s marketplace division sees INR 830 Cr investment from US parent

Ultimately, though, we are operating under the same guidelines that Flipkart or Amazon have developed for all sellers in the nation. In contrast to most other businesses, which use a B2B model with less transparency, ours is extremely transparent when it comes to the costs involved,” he continued.

Additionally, as part of the recent update, Amazon has discontinued its Zero Fee fulfillment policy. As a result, beginning from April 30, 2024, standard-sized goods costing more than INR 20,000 will be subject to a weight handling shipping tax.

Meanwhile, Amazon is reportedly preparing to launch its new vertical, Bazaar, which will feature budget-friendly, unbranded fashion and lifestyle products.

According to reports, Amazon Bazaar is currently onboarding sellers to list unbranded products, which include apparel, watches, shoes, jewellery, and luggage, all priced below INR 600.

The recent development closely follows Amazon’s foray into the logistics sector in India with the introduction of a new vertical called Amazon Shipping. The company is poised to enter this domain by managing non-Amazon orders. To kick off this new initiative, Amazon collaborated with logistics aggregators, other companies that receive orders directly from consumers, and direct-to-consumer (D2C) firms.

Continue Exploring: Amazon to challenge Meesho with budget-friendly fashion vertical ‘Bazaar’

FMCG companies in India revamp marketing strategies, prioritize digital outreach

SnackTeam

March 23, 2024

FMCG digital ad — (Representative Image)

Fast-moving consumer goods (FMCG) companies in India are progressively relying on digital advertising to connect with customers, particularly as many individuals now prefer consuming online content.

The pandemic has triggered a significant shift in behavior, leading Indians to increasingly embrace online services such as quick commerce. Furthermore, to effectively target the Gen Z and Gen Alpha generations, companies must leverage online platforms to connect with these digital natives. It’s high time traditional companies revamped their marketing strategies to capitalize on this transformation.

In 2023, the FMCG industry rapidly embraced digital advertising, with approximately 47% of the sector’s total ad expenditures directed towards digital media, according to analysts at Dentsu.

Continue Exploring: FMCG manufacturers revamp packaging for e-commerce as online sales surge

“Personalised targeting, real-time engagement, and quantifiable results are all made possible by the digital landscape. “Investing in digital advertising is essential to maintain relevance and accessibility to our target demographic as consumers increasingly turn to online content consumption,” stated Marico‘s chief marketing officer, Somasree Bose Awasthi.

The company employs a combination of digital platforms, social media, and influencer marketing to enhance its outreach.

Adani Wilmar tailors its digital strategy based on the platform selected. For example, on Meta, the company emphasizes a content-driven engagement approach. The digital medium enables companies to craft targeted communications for particular audiences, reducing unnecessary reach.

Jignesh Shah, Head of Media and Digital Marketing at Adani Wilmar, stated, “We predominantly utilise Meta ads, Google ads, programmatic partners, and content partners. it is fair to say that we are somewhat upbeat on digital expenditures as part of our overall media strategy.”

Parle Products now allocates more than 25% of its advertising budget to digital, up from 10% before the pandemic. In addition to Google and Meta, the company advertises on various OTT (over-the-top) platforms, content platforms such as ShareChat and Dailyhunt, and even short-format video platforms like Josh.

“Many in the younger generation are now cord-cutters. They prioritize mobile-first experiences and prefer to consume media on their own terms. This shift is prompting most advertisers to allocate more of their advertising budget to digital,” stated Vice-President Mayank Shah. He added that the digital medium currently provides much clearer visibility for assessing ROI (return on investment), indicating how effectively ads translate into reach and sales.

ITC’s digital investments are motivated by its goal to target the appropriate audience and optimize the accessibility of its brand. According to Shuvadip Banerjee, Chief Digital Marketing Officer, as internet penetration expands nationwide and its usage becomes more widespread, the digital medium has become omnipresent and democratized.

“As consumer behaviour evolves, so too must our approaches to reaching them. In terms of total reach, digital media currently outreaches television,” said Banerjee.

Continue Exploring: FMCG giants roll out budget-friendly digital packs, targeting mass market

Consumers no longer follow a linear purchasing path. Before making a purchase, whether online or offline, they often browse through content and reviews on the internet. Therefore, it is crucial in today’s world to have a presence on both digital and traditional media platforms, emphasized Nitin Saini, Vice President of Marketing at Mondelez India.

“The benefits of digital advertising are numerous, including precision targeting, personalized communication, robust ROI tracking, data-driven insights, and the capability to establish a brand presence in a crowded media environment. Moreover, the growth in e-commerce and quick commerce offers a lucrative opportunity, especially for consumer-packaged goods (CPG) brands,” stated Saini.

“Our choice to utilize digital marketing is rooted in the rising prevalence of digital users worldwide. With more people accessing the internet and engaging with digital content, it has become essential for FMCG companies like ours to establish a robust digital presence,” emphasized Kush Aggarwal, Head of Marketing at Bikano.

Amul’s ‘fresh milk’ brand to hit U.S. shelves for the first time

News

SnackTeam

March 23, 2024

For the first time in the history of India’s milk cooperatives, Amul‘s “fresh milk” brand will be available for sale in the United States.

The Gujarat Cooperative Milk Marketing Federation (GCMMF), which serves as the overarching organization for milk cooperatives in Gujarat and markets Amul branded milk, has partnered with the Michigan Milk Producers Association to distribute “fresh milk” in the East Coast and Midwest regions of the United States.

“We’ve been exporting milk products to the United States for the past 25 years. However, this will be the first time we will be offering fresh milk in the United States under the Amul brand. Jayen Mehta, managing director of GCMMF, said, “We expect this to be a game changer.”

Continue Exploring: Amul secures top spot as world’s strongest dairy brand and second strongest food brand globally

“We recently announced our US market debut to the board members of the Michigan Milk Producers Association during their 108th annual general meeting. They are a 108-year-old cooperative that ranks in the top ten cooperatives in the United States. “Our products will supplement theirs,” said Mehta, who was present at the announcement on March 20.

The GCMMF representative mentioned that the dairy plant of the Michigan Milk Producers Association in Ohio is strategically located, allowing Amul to reach markets in Chicago, Dallas, and other East Coast areas of the United States.

Amul is set to introduce its lineup of fresh milk in one-gallon (3.8 liters) and half-a-gallon (1.9 liters) packaging under the Amul brand in the United States. This range includes Amul Gold, boasting 6 percent milk fat, Amul Shakti with 4.5 percent milk fat, Amul Taaza with 3 percent milk fat, and Amul Slim with 2 percent milk fat.

Mehta added, “The composition of these dairy goods will remain the same as it is in India.”

Amul exports milk products to over 50 countries globally.

Continue Exploring: Amul’s first Ice Lounge in Northern India opens in Lucknow, bringing exotic ice creams from around the globe

Spain’s Kimitec partners with FIL Industries to revolutionize India’s apple fruit industry

SnackTeam

March 23, 2024

FIL's Junaid Alaf with KimiTech's Stephane Chabierski

Kimitec, a Spanish bio-innovation giant, has entered into a strategic partnership with FIL Industries, India’s leading investor in the apple sector based in Kashmir, to revolutionize the apple fruit industry in India.

Both companies assert that the addressable market for this partnership is approximately $30 million over the next five years.

The partnership seeks to revolutionize the horticulture sector in India, particularly focusing on apples and exploring opportunities in agro-waste management. They will collaborate to establish a circular economy for bio-stimulants and smart fertilizers produced from these processes.

Continue Exploring: Kashmiri apple growers rejoice as premium produce fetches highest market rates in a decade

“Given the dimension and market share of the FIL industries, we are ambitious that we can reach the numbers we aim for. If we co-invest and design our solutions according to the needs of the farmers we shall be looking at $30 million addressable market in five years,” said Stéphane Chabierski, EVP Global Corporate Strategy and General Manager Asia-Pacific for Kimitec.

India is projected to be the largest producer of bio-waste by 2030. According to Chabierski, the FIL-Kimitec partnership will concentrate on upcycling waste management.

“FIL is the largest apple integrator in the country and has an existing interest in valorizing apple waste. We think we have technologies to help FIL to work on this and many more such projects on a national scale,” said Chabierski.

Kimitec extracts molecules from biowaste and supplies them to the food and cosmetic industries. The company has recently launched the AI platform LINNA to expedite the discovery of new molecules.

“From 18 months it would now take us just one month to find one molecule. We aim to find 3 to five million new compounds in the next decade,” he said.

With apples as the primary focus of this partnership in its initial phase, both partners are optimistic about their potential to introduce groundbreaking changes in the apple industry in J&K and other regions of India, significantly enhancing both the quality and quantity.

“We are looking at decadal partnership with Kimtec. For a farmer, this partnership aims to bring end to end solutions through cutting edge technology with sustainability and responsibility. For us this is the FIL 2.0 version looking at innovative partnerships and solutions,” said Syed Junaid Altaf, Group Executive Director of FIL industries.

He emphasized the company’s dedication to biologicals and bio-stimulants, highlighting their significance to farmers.

“We are not giving a substitution but we are here with a better alternative that aims to give better look to the fruit, better feel and outcome and better returns,” said Junaid.

FIL Industries is also currently developing a 100% biological solution for apple Scab disease, which is expected to be cost-effective and superior to any chemical pesticide.

Continue Exploring: India’s fresh fruit exports surge by 29%, market presence expands to 111 countries

“Apple is going to stay and remain the main focus in the horticulture sector at least for the next two decades. We aim to improve the quality of fruit from traditional orchards and educate the farmer about high density plantations to ensure he gets the desired results,” said Junaid.

FIL has already launched some of Kimtec’s products and maintains regular communication with farmers to gather feedback from the field.

The apple industry in J&K is currently valued at around $1 billion. Junaid believes that with technology, awareness, and expertise from international partnerships like Kimitec, it has the potential to triple in size over the next decade.

FIL Industries is also developing an app for development and advisory purposes, targeting interaction with 80,000 to 100,000 farmers annually.

“Focus will be to digitally capture a farmer’s data point, land detail for insurance and advisory as well. It is a pure outreach endeavour,” said Junaid.

FIL is also introducing India’s first parametric apple crop insurance program, appleINSURE, in line with FIL Industries’ commitment to comprehensive support programs aimed at apple farmers in J&K and Himachal Pradesh.

Starbucks India marks 22nd store in Gujarat with new Gandhinagar outlet at Swagat Holiday Mall

SnackTeam

March 23, 2024

Starbucks, the US-based coffee chain, has opened its second outlet in Gandhinagar at Swagat Holiday Mall in Sargasan, as announced by a company representative on social media.

This represents the launch of the 22nd Starbucks store in the state of Gujarat.

“Thrilled to announce the launch of our new store, Swagat Holiday Mall, Gandhinagar! Our second store in Gandhinagar and our 22nd in the Gujarat region,” Prathamesh Akre, assistant manager -projects at Starbucks India said in a LinkedIn post.

The first Starbucks outlet in the city is situated at Pramukh Orbit, Gandhinagar, and opened three months ago.

Recently, the coffee chain achieved a milestone of 400 stores in India, opening a new outlet in Coimbatore at The Lakshmi Mills.

Continue Exploring: Starbucks hits 400th store milestone in India with grand opening in Coimbatore

The Starbucks-branded coffee chain in India is operated through a 50:50 joint venture between Seattle-based Starbucks Coffee Company and Tata Consumer Products Ltd.

In 2023, Starbucks expanded its presence into 15 new cities across India with the opening of 71 new stores.

The beverage company revealed plans to double its workforce, aiming to increase its partners from the existing 4,300 to around 8,600. This growth strategy includes expanding into tier 2 and 3 cities in India and introducing services like drive-thrus, airport locations, and 24-hour store formats to meet the varied needs of customers.

The company aims to operate 1,000 stores in India by 2028, with a goal of opening one new store every three days.

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

FMCG manufacturers revamp packaging for e-commerce as online sales surge

SnackTeam

March 23, 2024

Consumer goods manufacturers are redesigning their product packaging to be more e-commerce friendly due to the continued growth of this sales channel in their overall revenue.

Company executives stated that products sold through ecommerce undergo multiple handlings compared to offline sales, often experiencing rough handling by quick commerce delivery personnel. Additionally, individual units are shipped, increasing the likelihood of leakages or transit damage.

ITC Ltd is redesigning the packaging of most of its FMCG products to withstand transit damage. For example, it has modified the cap of shower gel packs to prevent leaks even without the use of adhesive tape.

Biscuit manufacturer Parle Products is introducing additional protective layers for its INR 30-80 packs, which are primarily sold online. They are also implementing separate outer packaging for bundled online sales to ensure the biscuits remain intact.

Mayank Shah, Vice President of Parle Products, noted that packages in e-commerce undergo more handling compared to modern or general trade, particularly with the increasing prominence of quick commerce.

Continue Exploring: Quick-commerce giants grab 30-50% of FMCG sales, kirana stores witness slowdown

Sameer Satpathy, the Chief Executive of ITC Ltd’s personal care products business, stated that designing e-commerce friendly packaging offers a competitive edge as consumers seek maximum value from their purchases.

Since the Covid pandemic, most fast-moving consumer goods (FMCG) companies have reported an increase in the contribution of e-commerce to their total sales. This trend has persisted even after the pandemic, which experts attribute to shifts in shopping behavior and the growth of quick commerce in major cities.

For example, according to research by NielsenIQ, the online contribution for impulse food items like chocolates, confectioneries, and salty snacks increased from 3% in 2022 to 5% in 2023. Similarly, for fabric care products such as washing powders/liquids, pre-post wash solutions, detergent cakes/bars, and fabric blues, the online contribution surged from 6% to 7%. Moreover, for home cleaning products like utensil cleaners, toilet cleaners, floor cleaners, and glass cleaners, the online contribution rose from 10% to 11% during the period analyzed.

Continue Exploring: FMCG giants roll out budget-friendly digital packs, targeting mass market

Little wonder, a major FMCG company discussed this issue during their recent corporate management committee meeting, prompted by complaints from several executives who received damaged products when buying online.

Dabur, aiming to attract younger online consumers, has begun designing new packaging specifically for online sales. Chief Executive Mohit Malhotra stated that they are introducing “aspirational packaging,” featuring consumer-friendly designs that are ergonomically improved for easier handling and use.

Health food brand Bagrry’s has transitioned their mid-sized cereal packages from cardboard boxes to pouches and jars to make them more suitable for e-commerce shipping. Additionally, they have introduced corrugated boxes for their plant-based beverages to minimize transit damage. In collaboration with Amazon, the company has also developed a corrugated box packaging for a 1.5 kg muesli pack, eliminating the need for Amazon to add additional packaging.

“The returns due to shipping damage has drastically come down due to these packaging changes,” said Bagrrys India director Aditya Bagri.

Continue Exploring: FMCG companies and Kirana stores gear up for summer: Dairy and beverage sales spike across India

1...570571572...1,401 Page 571 of 1,401

NewsHub

Popcorn & Company scores big with INR 75 Lakh investment on Shark Tank India 3

Kritunga Restaurants teams up with 91Squarefeet, plans to launch 15 new outlets in Southern India

SSBeauty raises the bar with launch of India’s largest beauty store in Kolkata

Amazon India adjusts seller fees, impacts various categories starting April 7

FMCG companies in India revamp marketing strategies, prioritize digital outreach

Amul’s ‘fresh milk’ brand to hit U.S. shelves for the first time

UK-based hair and skincare brand, Nature Spell, expands to Indian market with 22 new products

Spain’s Kimitec partners with FIL Industries to revolutionize India’s apple fruit industry

Starbucks India marks 22nd store in Gujarat with new Gandhinagar outlet at Swagat Holiday Mall

FMCG manufacturers revamp packaging for e-commerce as online sales surge