Myntra has expanded its international fashion presence with NEXT after securing franchise rights for the UK’s largest fashion retailer. Meanwhile, NEXT plans to tap into the vast market of the Asian nation, where conglomerates like Reliance and Tata are also increasing their presence in the clothing market.
This partnership allows NEXT to access the vast, varied, and continually evolving Indian market. Through an arrangement with Myntra Jabong Pvt Ltd, NEXT can distribute its products wholesale, facilitating the brand’s efforts to build a robust consumer base through various independent third-party franchise partners and distributors.
NEXT, a leading UK fashion brand, has granted Myntra Jabong the rights to distribute and oversee its products. Additionally, the e-tailer will enhance NEXT’s omni-channel presence in India, as announced by the company.
Under this franchise agreement, Myntra’s wholesale business will set up NEXT branded stores across India. The brand will provide a variety of apparel for children, women, and men both in-store and on their online platform.
During the initial years of operation, 8-10 NEXT stores will be inaugurated in key Indian cities like Delhi, Mumbai, and Bengaluru, complemented by a robust online presence on the Myntra platform.
The partnership enables NEXT to venture into the vast Indian market.
“We are thrilled to deepen our association with NEXT and strategically build its omni-channel presence in the country. With a strong playbook in exponentially building adoption for global brands ground-up, we are looking forward to unlocking the next phase of growth in the brand’s India scale-up journey,” said Nandita Sinha, Chief Executive Officer, Myntra.
Simon Wolfson, the Chief Executive of NEXT, expressed excitement about partnering with Myntra in one of the world’s fastest-growing markets.
Fit & Flex, a trailblazer in the FMCG industry, is transforming the way people think about breakfast and snacking. Based in Ahmedabad, Fit & Flex is known for its expertise in creating 100% baked, oat-based breakfast cereals and snacks. What distinguishes Fit & Flex is its steadfast dedication to developing products that are both tasty and nutritious, ideal for individuals leading hectic lives.
Since its establishment in December 2019, Fit & Flex has swiftly evolved from a startup to an industry frontrunner. The company launched with its signature product: 100% baked granola, offered in four unique flavors. Equipped with advanced European machinery in a spacious 4-acre facility, Fit & Flex has a production capacity of 375 metric tons, setting it apart as a trailblazer in India’s FMCG sector.
Over time, Fit & Flex has expanded its product range, launching muesli in 2021 and entering the snacking market in 2022 with oat-based baked multigrain blends and chocolate mini bites. Currently, Fit & Flex provides a varied portfolio that includes granola, muesli, oats, multigrain blends, and mini bites. These products are available in over 5000 GT & MT stores across the country and are also exported to numerous outlets in the UAE, Africa, and the Maldives.
In a recent interview, Pathik Patel, the founder of Fit & Flex, highlighted the brand’s unique selling proposition (USP), growth strategy, and competitive analysis. With a dedication to innovation, product excellence, and customer contentment, Fit & Flex endeavors to emerge as India’s leading snacking brand in the better-for-you category, fostering deep affection among consumers.
The expansion of Fit & Flex can be credited to evolving market dynamics and changing consumer tastes. Urbanization, globalization, and hectic lifestyles have spurred a rising need for convenient yet healthy breakfast choices. Fit & Flex meets this demand by offering nourishing products made with high-quality ingredients. Additionally, the brand’s founder, Pathik Patel, recognized a market void for nutritious and convenient breakfast alternatives, which inspired the creation of Fit & Flex.
Fit & Flex offers a diverse product lineup featuring 100% Baked, Oat-Based breakfast cereals and snack items across 35 SKU’s. Patel emphasizes that their inventive slow bake technique guarantees a distinctive crunch and texture, distinguishing them from rivals. Prioritizing both health and flavor, Fit & Flex presents choices such as muesli crafted from 90% whole grains, nuts, and seeds, alongside granola enriched with Added Prebiotic Fiber for digestive wellness. Their snack assortment, including Baked Multigrain blends and mini bites, strikes an ideal harmony between indulgence and nourishment.
Fit & Flex has adopted strategic measures to solidify its market presence and sustain competitiveness. Through the expansion of its distribution channels and collaborations with key players in the modern trade industry, Fit & Flex guarantees broad accessibility of its products. Additionally, the brand prioritizes rigorous quality control standards and actively participates in promotional campaigns to boost brand awareness and foster consumer interaction.
Patel said, “We want to make Fit & Flex, India’s most loved snacking brand in the better-for-you category. For this, we are working on expanding our portfolio across ranges to offer our customers a one-stop-shop. Also, our focus is on innovation in terms of formats & flavors to break the current monotony available in the market. Apart from this, building a strong GT network is of primary focus this year to reach a large number of homes and become a familiar brand.”
While discussing the competitive landscape, Patel highlighted, “In the granola sector, we find ourselves with limited competition, primarily comprising large commercialized brands that may not prioritize ingredient quality and taste. Our Mini Bites stand out as a unique offering, unmatched by any other product in India. This places us in a strong position at the brand level, excelling in product format, taste, and overall quality compared to our competitors.”
Despite encountering obstacles during the Covid-19 pandemic, Fit & Flex has flourished and intends to launch new offerings such as Ready to Eat meals, flavored High Protein Oats, and millet-based high protein snacks. With aggressive expansion strategies into GT markets and plans to inaugurate approximately 10,000 new outlets, Fit & Flex aspires to establish itself as India’s preferred healthy snacking brand by 2025.
The growing consumer interest in healthy snacking choices has driven Fit & Flex’s expansion in both offline and online channels. Anticipating a 50% revenue growth in FY25, Fit & Flex plans to leverage this trend to solidify its market standing.
iD Fresh Food, India’s leading fresh food brand, has announced a partnership with Tata Motors, India’s largest commercial vehicle manufacturer, to transition its entire delivery fleet to electric vehicles. By 2025, 50% of iD Fresh Food’s delivery vehicles will be electric, with the remaining 50% to follow by 2027. The company has already procured its first batch of Ace EVs for their Bengaluru, Mumbai, and Delhi markets. The objective is to electrify the entire fleet across India, as well as in the US and UAE markets.
The shift towards electric vehicles is not only targeted at minimizing environmental impact and enhancing efficiency but also part of the company’s broader initiatives to adopt sustainable business practices in line with its ESG commitments. Moving towards a more eco-friendly transportation mode resonates with iD Fresh’s fundamental brand values of promoting the health and well-being of both people and the planet.
The new Ace EV, developed in close collaboration with its users, has successfully completed rigorous real-world market trials. Backed by a carefully crafted ecosystem, the Ace EV offers a comprehensive solution for seamless e-cargo mobility, along with a 5-year all-inclusive maintenance package. Its reliable performance, boasting 100% uptime, has garnered an overwhelmingly positive response from customers. The Ace EV’s supporting ecosystem encompasses the development and implementation of charging infrastructure, establishment of specialized Electric Vehicle Support Centers to ensure maximum fleet uptime, deployment of Tata Fleet Edge – the cutting-edge fleet management solution, and the backing of Tata UniEVerse, the established supporting ecosystem of relevant Tata Group companies. Additionally, partnerships have been formed with the country’s leading financiers to facilitate funding options.
Commenting on the company’s green transition, Rajat Diwaker, India CEO, iD Fresh Food, said, “With the demand for nutritious ingredients and environmentally-conscious sourcing becoming more pronounced, businesses today are taking steps to phase out artificial ingredients, such as flavours, colours, and preservatives. iD Fresh has been ahead of the curve in many ways. We aspire to evolve into a fully sustainable business by partnering with diverse stakeholders and nurturing an all-inclusive outlook that includes the people and the planet. That’s something our consumers value as much as we do! We couldn’t have asked for a more committed partner than Tata Motors, the market leader in the EV segment, to help drive iD Fresh’s green transition.”
With increasing greenhouse gas emissions, urban air pollution, and dependence on oil imports, environmental awareness has become paramount. However, these are not the only factors driving the growing appeal of EVs worldwide. Reduced production costs, ease of maintenance, and rising fuel prices are also significant contributors to this trend.
Vinay Pathak, Vice President & Business Head – SCV&PU, Tata Motors, said, “Tata Motors is committed to democratise e-cargo mobility solutions in the country. Our partnership with iD represents another significant milestone in our journey that benefit both our customers and the environment. The Ace EV has surpassed its customers’ expectations for its best-in-class performance, and we are confident that iD Fresh Foods will enjoy benefits of ACE EV ecosystem with lower TCO, best-in-class uptime and better driving comfort, while making its supply chain greener.”
Transitioning to an electric, zero-emission approach will not only enable businesses to more effectively tackle the climate change crisis but also offer a cost-effective, efficient, and sustainable path for their growth.
Currently, iD Fresh serves over 45 cities through 30,000 retail stores across India, UAE, GCC, US, and UK. The brand offers an extensive range of natural and healthy products, including Idly and Dosa Batter, Rice Rava Idly Batter, Malabar Parota, Wheat Parota, Homestyle Paratha, Wheat Chapati, Soft & Creamy Paneer, Creamy Thick Curd, ‘Squeeze and Fry’ Vada Batter, Cow Ghee, Butterstick, Frozen Fruit Blends, customized blends of Instant Filter Coffee Liquids, and iD Instant Coffee Breakfast Blend.
Vintage Coffee and Beverages Limited (VCBL) has unveiled ambitious plans to enhance its foothold in the international coffee market. The company has introduced a range of initiatives focused on increasing production capacity, broadening market presence, and offering enhanced value to its customers.
Balakrishna Tati, Chairman and MD of Vintage Coffee and Beverages Limited, says “VCBL remains committed to delivering excellence in quality and service while spearheading innovation and expansion in the global coffee market. We are excited about the journey ahead and look forward to continued success and growth.”
In response to the growing global demand for coffee, VCBL plans to augment its production capacity by an additional 2000 MT, targeting an annual capacity of 6500 MT. This expansion initiative is set to commence in the coming months and is scheduled for completion by the end of Q4FY25. Furthermore, VCBL aims to elevate the utilization of its existing 4500 MTPA capacities to 100% by the end of Q2FY25, a significant increase from 52% in Q3FY24. The proceeds from the ongoing preferential share issue will support working capital needs and essential brownfield capital expenditures.
The planned brownfield expansion is projected to increase VCBL’s daily production capacity from 13 MT to 18 MT in the early stages of the fourth quarter of the current financial year. With this enhanced capacity, VCBL plans to shift its sales strategy towards providing value-added products under multiple certified brands.
Additionally, VCBL is set to deploy advanced automated packaging lines for secure and efficient container handling. The company has secured substantial contracts in regions including the Middle East, Europe, Russia, and West Africa. Furthermore, VCBL plans to launch its proprietary brands in West Africa and Russia to leverage emerging market opportunities.
Furthermore, VCBL plans to expand into targeted segments of the Indian market, such as e-commerce, HORECA, and retail sectors. With these strategic initiatives underway, the company expects a 150% revenue growth by the conclusion of fiscal year 2025.
The ultimate destination for vegetarian dining in Mumbai is now at BKC! Santé Spa Cuisine, a healthy haven that first opened its doors in Pune over 8 years ago, stands out with its extensive array of vegan and vegetarian dishes. More than just a typical vegetarian eatery, it’s a gastronomic haven filled with flavor, innovation, and a steadfast commitment to encouraging healthy and sustainable dining choices.
Their extensive menu offers a lively array of vegan, gluten-free, and protein-packed choices, all made with the freshest, most wholesome, and organic ingredients. Committed to clean eating, Santé Spa Cuisine emphasizes whole foods and avoids processed items, ensuring no sugary sodas or artificial flavors. Highlights include the distinctive Quinoa Biryani, Bajra Risotto, Zucchini Zoodles with Hemp Pesto, and the fragrant Green Thai curry served with steamed, unpolished brown rice. For starters, the freshly made Holy Guacamole paired with homemade chips is a must-try, alongside inventive wood-fired pizzas with bases made from Ragi, Almond Flour & sourdough. Lighter options feature the Mediterranean Quinoa Salad and protein-rich Beetroot and Spinach Hummus, while adventurous diners may enjoy the Crunchy Chlorophyll Dim Sum or Green Pao Bhaji with low-carb vegetables. To quench thirst, the restaurant offers invigorating teas, coffees, Iced Matcha Guarana, and a variety of Healthy Juices, Kombuchas, Activated Charcoal Lemonade, and Milkshakes. Diners can conclude their meal with the heavenly Forest of Chocolate Truffles dessert, ensuring a delectable, enjoyable, and mindful dining experience.
Chef Shailendra Kekade, with his extensive experience and dedication to sustainable practices, brings his culinary expertise to the table. “Crafting a menu this vast requires a deep respect for fresh, seasonal ingredients and a constant drive for innovation. We source only the finest produce and transform it into dishes that are not only healthy but also bursting with flavour. With Mumbai’s largest vegetarian menu, we offer something for everyone to discover and enjoy.”
The passionate team of Sonal Barmecha and Chef Shailendra Kekade was joined by Agnelorajesh Athaide and Kailash Biyani to create a space that promotes a healthy and sustainable lifestyle through delicious plant-based cuisine. Following their success in Pune, they expanded their reach to Ahmedabad and Bangalore, steadily building a reputation for innovative vegan and vegetarian cuisine. Now, Mumbai gets to experience the magic of Santé at its biggest and grandest location to date!
“At Santé Spa Cuisine, we believe delicious food shouldn’t come at the cost of our health or the planet. We’re passionate about creating a space that nourishes both body and soul, and our extensive vegetarian menu is a testament to the versatility and deliciousness of plant-based cuisine,” said Sonal Barmecha, founder of Santé Spa Cuisine.
Enter Sante and find yourself embraced by a tranquil setting, inviting you to relax, rejuvenate, and savor the present moment. The serene Buddha statue at the entrance, symbolizing the seven chakras, captivates your senses. Natural elements such as lush greenery, organic wood, and textured stone seamlessly merge with the surroundings, invoking instant tranquility. The minimalist design and sleek lines foster a sense of serenity and concentration, complemented by the elegant copperware adorning the tables and eco-friendly leaf straws, echoing the restaurant’s mindful wellness ethos.
Soft, ambient lighting casts a warm glow, accentuating the #honestlyhealthy board that epitomizes the restaurant’s values with sophistication. Meanwhile, gentle melodies float through the air, creating an atmosphere of ease, while plush pillows embroidered with affirmations like “gratitude” and “healthy” provide the perfect embellishment, completing the harmonious ambiance.
Agnelorajesh Athaide, a renowned author, social entrepreneur, and business mentor adds, “Santé Spa Cuisine is more than just a restaurant; it’s a movement towards a more mindful and sustainable way of life. Our expansive vegetarian menu is a reflection of this philosophy, offering a wide range of options that are both delicious and environmentally responsible. We’re thrilled to be sharing this experience with Mumbai and fostering a community that values both good food and a healthy planet.”
Starbucks has reached a significant sustainability milestone, with over 6,000 of its stores now recognized as ‘Greener Stores’ across 44 markets globally.
This nearly doubles the count of certified stores within a year, moving Starbucks closer to its goal of 10,000 Greener Stores by 2025.
Starbucks’ Greener Stores are designed and operated to reduce their environmental footprint.
Each store adheres to specific standards across eight areas developed in collaboration with the World Wildlife Fund and SCS Global Services.
These areas encompass water stewardship, energy efficiency, waste reduction, and the adoption of renewable energy.
In the US alone, Greener Stores have achieved significant cost savings, reducing water use and energy consumption by 30% each compared to standard Starbucks stores.
The Greener Stores initiative has expanded to new markets including India, Hong Kong, and Costa Rica.
Significantly, Starbucks’ first and only coffee farm in Costa Rica features a Greener Stores-certified visitor center café.
To acknowledge outstanding sustainability performance, Starbucks has introduced its first-ever Greener Stores of the Year program.
Six stores, one from each of its global regions, were honored for surpassing expectations in innovation and environmental impact.
The store in Lima, Peru promotes the use of reusable cups and local sourcing, whereas the Tsushima, Japan store blends harmoniously with its park environment and encourages community involvement.
Starbucks’ store in Cesme, Turkey utilizes natural materials, collects rainwater, and employs on-site solar power to enhance energy efficiency.
The Williamsburg store in the US, situated in a historic building, operates solely on 100% local renewable energy and provides customers with information about sustainable options.
In India, the Ayali Kalan store advocates for electric vehicle charging, rainwater harvesting, and the reuse of coffee grounds.
Lastly, the store in Shanghai, China showcases leadership in using recycled and recyclable materials, as well as energy-saving technologies.
Starbucks’ commitment to sustainability is evident in the rapid expansion of its Greener Stores programme.
By recognising top-performing stores and implementing innovative practices, Starbucks is setting a strong example for the coffee industry and beyond.
Accessorize London has launched its ‘Jewellery Only’ concept store in Bangalore. This distinct retail space is exclusively dedicated to showcasing a wide variety of exquisite fashion jewellery, offering a one-of-a-kind shopping experience for fashion aficionados.
In contrast to conventional Accessorize outlets, which offer a broad array of fashion accessories ranging from handbags, scarves, sunglasses, to children’s fashion, this concept store is solely designed for jewellery enthusiasts. Spanning approximately 225 square feet with a compact yet stylish layout, the store provides an intimate and carefully curated shopping atmosphere.
The ‘Jewellery Only’ store stands out with its exclusive product lineup, which includes delicate to chunky designs crafted from enamel, metal, and semi-precious materials. With over 1500 unique designs on display, customers can explore a diverse collection of fashion jewellery options, providing a broader selection compared to standard Accessorize outlets. This specialization enhances the shopping experience, catering to customers seeking the latest trends and vintage classics in the jewellery domain.
Kumar Saurabh, CEO of Planet Retail Holdings Pvt Ltd said, “We are delighted to introduce the ‘Jewellery Only’ concept store under the Accessorize brand in Bangalore. This venture marks a strategic move to cater specifically to the growing demand for diverse and high-quality fashion jewellery. By curating an exclusive range and dedicating an entire store to this category, we aim to enhance the shopping experience for our customers and further solidify Accessorize’s position as a trendsetter in the fashion retail industry.”
The ‘Jewellery Only’ store showcases Accessorize’s dedication to offering comprehensive and chic collections. With its exclusive product range and emphasis on fashion jewellery, the store is poised to emerge as the premier destination for individuals in search of the perfect accessories to complement their style.
Arun Icecreams, South India’s leading ice cream brand has announced its partnership with Sunrisers Hyderabad as the official Ice Cream Partner for the T20 Cup 2024 season. This collaboration marks a significant milestone for Arun Icecreams as it seeks to reinforce its presence in the Andhra Pradesh and Telangana markets.
“We are delighted to be associated with Sunrisers Hyderabad, a team known for its outstanding performance and dedication. This partnership not only allows us to engage with cricket enthusiasts but also strengthens our commitment to providing quality products to consumers in the region,” said a spokesperson for Arun Ice creams.
As part of the collaboration, the Arun Icecreams logo will be prominently featured on the lead helmets and caps of the Sunrisers Hyderabad players throughout the T20 Cup 2024 season. This exposure will bolster the brand’s visibility and recognition among cricket enthusiasts nationwide.
“We are excited to welcome Arun Icecreams on board as our official Ice Cream Partner”, said Shanmugam, CEO, Sunrisers Hyderabad. “Their commitment to excellence and innovation resonates with our team’s ethos, and we look forward to a successful partnership both on and off the field.”
Flipkart, a prominent player in the e-commerce industry, has revised its approach to employee increments. This year, instead of the customary pay raises, eligible employees will receive merit-based payouts divided into two installments.
“At Flipkart, we have always prioritised what’s right for both our employees and the organisation at large, and this compensation review cycle is in line with this intention. We are providing compensation increases to employees getting promoted, merit-linked payments and bonus payouts. Additionally, our stock option allocation exercise will continue as is, for those who are eligible,” Flipkart said in a statement.
Mint was the first to break the news on this development.
The one-time adjustment will reportedly be implemented for employees at the mid-management level (Grade 12) and below. Eligible employees will receive two lump-sum payments, in April and October of this year, equivalent to the total annual salary increase they would have otherwise obtained.
A Flipkart executive informed The Economic Times that this change will impact approximately 19,000 to 20,000 employees of the company.
Meanwhile, the e-commerce giant will also provide a 100% bonus to its entire staff this year, and promoted employees will receive their usual increments across all grades. For the remaining grades, the company has expanded the allocation of ESOPs to foster wealth creation.
In a letter sent to employees detailing the new compensation structure, CEO Kalyan Krishnamurthy reportedly said, “The company multiplier for the bonus payout is typically arrived at by measuring the company’s performance against key business parameters, which are GMV, contribution margin,… We have decided to keep the 2023 company multiplier at 100% for all employees (including VPs and SVPs).”
Significantly, last year the company had halted salary hikes for one-third of its employees, including senior staff, due to macroeconomic challenges and unfavorable market conditions. Additionally, earlier this year, the company reportedly initiated a workforce reduction of 5-7%, amounting to around 1,000 employees, as part of a performance review process. This downsizing is anticipated to be finalized by April 2024.
The new policy comes in the midst of significant changes at the e-commerce giant over the past year. In late 2022, Flipkart spun off the digital payments platform PhonePe into a separate entity, subsequently distributing cash payouts totaling $700 million to its employees as part of the demerger.
The company has also been exploring opportunities in the quick commerce sector and has been swiftly expanding into new market segments.
Despite receiving a $600 million investment from its parent company Walmart in December 2023, the e-commerce major continues to experience significant losses. Flipkart Internet, its B2C division, reported a net loss of INR 4,026.5 crore in FY23, a 9% decrease from INR 4,419.5 crore in FY22. However, the customer-facing division saw its operating revenue surge by 42% year-on-year (YoY) to INR 14,845.8 crore in FY23.
Earlier this month, reports indicated that Flipkart’s valuation had dropped by $5 billion to $35 billion as of the end of January 2024, compared to January 2022, due to the spin-off of PhonePe into a standalone entity.
After facing online backlash citing concerns around community and caste-based discrimination, Zomato has renamed its ‘pure veg’ mode to ‘veg only’ and dropped the plan to have a separate colour-coded fleet for exclusively delivering vegetarian food.
Several users expressed their dissatisfaction on social media with Zomato’s use of the term ‘pure veg’ and the decision to have their delivery staff wear green uniforms instead of the usual red when delivering vegetarian meals.
On Wednesday, Zomato rolled back the green uniforms that the pure-veg food-delivery fleet was earlier supposed to wear.
“Delivery partners onboarded on Zomato will never be discriminated against on the basis of any criteria,” the company said while pointing out that customers cannot select delivery partners based on the drivers’ dietary preferences.
The food delivery platform has assured that the introduction of a separate fleet will not result in any changes or impact the pay-outs for delivery partners. According to a post on X, the “veg-only mode” will be available to users by next week and will be progressively implemented nationwide.
In the December quarter, Zomato’s platform boasted an average of 419,000 monthly active delivery partners.
Zomato’s CEO, Deepinder Goyal, stated that the decision to introduce a veg-only mode was made in recognition of India’s status as the country with the largest vegetarian population globally. This initiative aligns with the company’s broader strategy to expand its total addressable market.
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