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AB Akola Group to acquire minority stake in OMG Bubble Tea for €1.9 Million

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OMG Bubble Tea
OMG Bubble Tea

AB Akola Group is acquiring a minority share in Lithuanian beverage startup OMG Bubble Tea for €1.9 million.

Established in 2022, OMG Bubble Tea specializes in crafting natural bubble tea. The company exports roughly 95% of its production to countries including France, Germany, Great Britain, Austria, and others. With a workforce of 143 employees, it operates a production facility situated in Panevėžys.

AB Akola Group is said to hold “the largest agricultural and food production group in the Baltics,” employing 4.9 thousand people.

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Mažvydas Šileika, chief financial officer of AB Akola Group, said, “OMG Bubble Tea is a growing start-up that has increased production and revenue several times over the year. The management and the team are energetic, the production processes are being fine-tuned, and the sales progress has been made for further successful expansion.”

“In 2024 and 2025, exponential growth is foreseen for the start-up – measuring in times, not in percentage. The global bubble tea market size was valued at 3 billion US dollars in 2022 and is projected by experts to grow by 6.3% annually until 2032, while the European market will grow by 8% annually. Therefore, the start-up’s outlook is promising.”

He added, “We believe this is a worthwhile investment for us, as the consumption of beverages is growing globally, especially among young people, and the prospects in this area are great. Our business strategy is to increase the weight of food products in the group’s overall business, thereby increasing the group’s overall profitability and value. We are not only investing in increasing production capacity but also looking for small, growing producers. This is by no means our last investment in beverage start-ups.”

Jonas Karosas, director of OMG Bubble Tea, commented, “Our product is aimed at children and young people, and it evokes good emotions. Global trends show increased demand, and we want to take advantage of this and expand our volumes. The kick-off, as in any production, was not easy, but we have still grown at a very fast pace since we started the company. The Akola Group’s investment will allow us to increase this pace even further.”

Continue Exploring: PepsiCo takes sparkling water to new heights with Bubly Burst lineup

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Fostering togetherness: Hearty Mart’s Falooda Mix elevates Ramadan gatherings with flavor and generosity

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Hearty Mart's Falooda Mix
Hearty Mart's Falooda Mix

Ramadan holds deep spiritual significance for Muslims globally. Each year, this sacred month is observed through fasting from dawn till sunset, serving not merely as a physical exercise but also as a pathway to profound introspection. It’s a time when Muslims devote themselves more fervently to prayers and extend acts of generosity through charitable giving.

One of the most heartwarming aspects of Ramadan is the community iftaars—the evening meals to break the fast—where families, friends, and sometimes even strangers come together to share food and companionship. These gatherings, along with community prayers, play a pivotal role in strengthening the bonds of kinship and community. Moreover, Ramadan offers a unique opportunity for individuals to introspect and cultivate a closer relationship with their faith, aiming to elevate their spiritual experience, and fostering interfaith camaraderie.

Within the context of Ramadan, food transcends its basic nutritional value to become a powerful conduit of cultural expression. Sharing a meal, especially after a day spent fasting, deepens a sense of gratitude and kinship among participants. This shared experience at the iftaar table not only fosters a warm atmosphere but also allows individuals to more profoundly appreciate the blessings they have. As a result, certain foods have assumed significant cultural importance during Ramadan.

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

Dates, renowned for their rich nutritional profile and symbolic significance, are a cornerstone of breaking the fast, marking the beginning of iftaar with a blend of sweetness and tradition. Haleem, a hearty stew featuring meat, lentils, and wheat, takes center stage during the iftaar meal, providing not just nourishment but also a deep sense of contentment through its slow-cooked flavors. For Sehri, the predawn meal, Paya emerges as a preferred choice. Together, these dishes not only fulfill the physical requirements of fasting but also enrich the cultural and spiritual experience of Ramadan.

Among the myriad of delicacies adorning the iftaar spread, Falooda stands out for its uniquely refreshing allure. Following hours of fasting, particularly on hot days, a serving of Falooda provides more than just hydration; it represents a ritual of rejuvenation and delight. Infused with ‘tukhmari’ (basil seeds) and its distinctively cool flavor, it delivers a soothing and revitalizing sensation, offering a moment of respite and invigoration.

Recognizing the deep-rooted cultural significance, Hearty Mart strategically releases its Falooda mix each year in preparation for Ramadan. This endeavor transcends mere business tactics; it signifies an appreciation for the profound importance of communal gatherings and experiences during this sacred period. Their Falooda mix has evolved into a sought-after commodity, cherished not only for its flavor but also for the nostalgic sentiments it stirs. Through such culinary customs and the endeavors of enterprises like Hearty Mart, the spirit of Ramadan is honored, fostering moments of happiness, contemplation, and unity.

Nadeem Jafri, Founder & Chief Mentor, Hearty Mart, shares, “Falooda is traditionally enjoyed during Iftaar, a time when individuals seek to re-energize after a day-long fast. With Good Time Falooda mix, we aim to position our brand as the ideal choice for this occasion, offering a refreshing and revitalizing experience. This strategic alignment of our brand with the Iftaar occasion enhances the product’s recall value.”

The appeal of Falooda Mix extends beyond its refreshing flavor; it serves as a crucial element in charitable efforts during the holy month. Driven by a spirit of generosity, individuals frequently turn to Hearty Mart to compile special kits containing a selection of their finest spice blends, essential food items, and, notably, multiple packages of the beloved Falooda mix. The purpose behind these kits is profound: they are designed as gifts for those in need, ensuring that less fortunate families can partake in the nourishing and celebratory aspects of Ramadan. By including the Falooda mix, these kits accomplish more than providing sustenance; they create moments of shared joy and solace, fostering a more inclusive and communal observance of Ramadan. Through this considerate initiative, Hearty Mart and its supporters extend a hand of fellowship and compassion, embodying the true essence of Ramadan’s spirit of generosity.

Continue Exploring: Investor appetite grows for homegrown food and beverage startups as demand skyrockets

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Reliance Retail’s Lee Cooper enters women’s footwear segment

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Lee Cooper
Lee Cooper

Lee Cooper, a brand under Reliance Retail, has unveiled its entry into the women’s footwear market.

Lee Cooper’s SS’24 women’s footwear line, “Shoes Don’t Judge,” presents a varied selection of designs tailored to complement diverse styles and occasions. Offering a distinctive blend of styles, a rich spectrum of colors, and versatile materials, the collection caters to every event and preference.

Continue Exploring: Indian footwear industry set for exponential growth, projected to reach $90 Billion by 2030: GTRI Report

In a society rife with preconceptions and biases, shoes emerge as a symbol of neutrality and inclusivity. They refrain from judging individuals based on their looks, social standing, or origins. Rather, they offer a platform for self-expression, empowering people to embrace their authentic identities.

In a press release, the company stated that for the Lee Cooper brand, “Shoes Don’t Judge” transcends mere campaign status—it embodies a movement that honors individual choices and preferences without bias or judgment.

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Beauty brand Florence by Mills makes Indian debut with exclusive launch on Nykaa

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Florence by Mills
Florence by Mills

Nykaa, a Mumbai-based fashion and beauty retailer, has brought the beauty brand Florence by Mills to the Indian market. Created by British actress and activist Millie Bobby Brown, Florence by Mills caters specifically to Gen Z consumers.

“We are thrilled to exclusively launch Florence by Mills on Nykaa, bringing Brown’s vision of clean and affordable beauty to our customers. We believe that this collaboration will resonate strongly with our Gen Z audience, empowering them to embrace their individuality and redefine beauty standards,” said Anchit Nayar, executive director of Nykaa Beauty.

The items can only be found on Nykaa’s platforms, which include the Nykaa app, website, and Nykaa’s retail outlets.

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“I wanted to create something for me and my generation, a brand that reflects us and our self-expression while being good for you, simple to use, and suitable for changing, transitional skin. With Florence by Mills, everyone can discover and build their own beauty philosophy with clean, accessible, and easy-to-use beauty essentials,” said Brown.

Nykaa’s international brand portfolio also features Charlotte Tilbury, Urban Decay, Kiehl’s, Dr. Barbara Sturm, YSL Beauty, MAC, Estee Lauder, Lancome, Carolina Herrera, Benefit Cosmetics, and Laneige.

Founded in 2012 by Indian entrepreneur Falguni Nayar, Nykaa emerged as a digital-first omni-channel beauty platform. Its first brick-and-mortar store debuted at Terminal 3 of Delhi’s Indira Gandhi International Airport in 2014.

Continue Exploring: Fashion, grocery, and general merchandise to dominate two-thirds of Indian e-commerce market by 2027: Nykaa CEO Falguni Nayar

In 2018, the company expanded its product categories by introducing Nykaa Fashion and Nykaa Man. Presently, Nykaa operates various store formats including Nykaa Luxe, Nykaa On Trend, and Nykaa Kiosks.

Operating under beauty and fashion e-tailer FSN e-Commerce Ventures, the brand reported a 97.55% rise in its consolidated net profit to INR 16.18 crore for the December 2023 quarter.

Continue Exploring: Nykaa continues strong growth trajectory: Q3 net profit doubles YoY to INR 17.4 Cr

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Central Consumer Protection Authority cracks down on liquor brands for violating surrogate advertising regulations

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liquor world
(Representative Image)

Following the discovery of several instances of liquor brands violating surrogate advertising regulations, the Central Consumer Protection Authority (CCPA) has called upon companies to ensure adherence to these standards. Moreover, they have asked for a compilation of products promoted under the same brand as alcoholic beverages, commonly referred to as brand extensions, within the last three years.

It has also sought revenue and turnover data pertaining to the sale of alcobev, as well as information on brand extension products (such as mineral water, playing cards, and music CDs) over the last three years.

Moreover, CCPA seeks details of expenditures related to promoting brand extensions over the past three years. These include expenses for sponsoring events, award ceremonies, music festivals, compensating celebrities and influencers, as well as airing TV advertisements.

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The agency aims to determine the correlation between the actual sales of the brand extension product and the money spent on its promotion.

“This assessment is critical for determining whether promoting of brand extension products authentically represents the extended product or functions as a surrogate for alcoholic beverages under the same brand,” CCPA chief commissioner Rohit Kumar Singh said.

The directive sent to all alcohol companies and industry associations arrives just days before the launch of the Indian Premier League, a time when such advertisements are commonly broadcasted and heavily promoted on social media platforms. Due to the ban on liquor advertisements, companies have resorted to surrogate ad campaigns to promote their products.

“The industry is advised to ensure that all brand extensions follow the broad principles of advertising only genuine extensions (that is, turnover and distribution in proportion to advertising spends), and ensure that advertisements contain no cues of restricted category such as tag lines and layouts and do not unduly suppress the category name and extension being advertised,” the two-page direction said. It also said that surrogate advertising posed a threat to consumer rights.

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PepsiCo takes sparkling water to new heights with Bubly Burst lineup

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PepsiCo bubly burst
PepsiCo bubly burst

Back in 2018, PepsiCo made waves in the sparkling water scene by introducing bubly sparkling water. Fast forward to today, and they’re at it again with an exciting addition: bubly burst. This fresh offering is a delicious, fruit-infused sparkling water beverage boasting vibrant flavors, vivid hues, no extra sugar, and low calories. Alongside its flavorful twist, bubly burst continues the playful spirit of the original bubly line, featuring whimsical messages and cheerful greetings on its packaging.

With a delightful mix of flavors and a playful fizziness, the new bubly burst comes in six tantalizing options: Triple Berry, Peach Mango, Watermelon Lime, Pineapple Tangerine, Cherry Lemonade, and Tropical Punch. Each flavor contains just 10 calories or fewer, without any added sugar, delivering a burst of fruity goodness. Packaged in 100% recycled PET single-serve 16.9oz bottles, bubly burst will be conveniently available nationwide at grocery stores, gas stations, convenience stores, and online.

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“Since we created and launched the bubly brand six years ago, bubly has taken the sparkling water category by storm – skyrocketing to the #1 brand in awareness, and the #1 most preferred sparkling water brand in the marketplace. As the category has become more mainstream, new consumers are coming into the space looking for solutions that have a stronger and slightly sweeter taste than a typical sparkling water, while maintaining many of the same credentials that the sparkling water category is known for today. That is what bubly burst is bringing to the table – sparkling water with a delicious burst of fruit flavor, all brought about in a way that only the bubly brand can,” said Todd Kaplan, chief marketing officer – Pepsi and Sparkling Water.

“We are confident in the strength of the bubly brand to stretch into this new space, providing consumers with the same fun and playful energy they love and have come to expect from bubly. The launch of bubly burst is a big bet for our organization that will truly accelerate bubly’s growth to entirely new heights while expanding its consumer base as the brand continues to assert its leadership role within the sparkling water category,” he added.

Continue Exploring: AB InBev and PepsiCo collaborate to launch alcoholic 7Up in Canada

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Healthy beverage trend surges in Europe as consumers seek alternatives to alcohol

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Healthy Beverage
Healthy Beverage

European consumers are increasingly favoring a variety of healthier beverage choices over traditional alcoholic drinks, marking a significant shift in preferences across the region.

This insight comes from a study conducted by Prinova, a supplier of ingredients and premix solutions for the F&B and nutrition industries, shedding light on evolving trends in the beverage space.

The findings indicate that a notable portion of consumers, especially those aged 25-34, are cutting back on their alcohol consumption. Out of the 1,277 physically active European consumers surveyed, 42.5% acknowledged reducing their alcohol intake in the last three years, signifying a significant shift from traditional drinking norms.

What alternatives are they embracing? A range of healthier options, including tea, coffee, still water, and juices/smoothies, are leading the way. This transition isn’t limited to a single demographic; preferences differ among age groups, genders, and regions. For instance, while the older generation favors dairy beverages, the younger cohort leans more towards alcohol-free beer.

Continue Exploring: Rise in alcohol consumption: Australians double down on RTDs, beer consumption declines 

Energy emerges as the coveted wellness benefit, surpassing hydration and post-exercise recovery. This is reflected in the 35% of men reducing alcohol consumption by opting for energy drinks. Moreover, a significant portion of consumers expressed a desire for a broader selection of healthy beverages, with millennials leading the charge at 64%.

The study also reveals the key ingredients influencing consumer decisions. Vitamins and minerals are at the forefront, closely followed by plant protein, suggesting an increasing demand for functional beverages enhanced with high-quality micronutrients.

Other factors shaping purchase decisions encompass affordability, the use of natural ingredients, reliance on trusted brands, and reliance on scientifically proven formulas.

Commenting on the findings, James Street, global marketing director at Prinova, said, “Consumers are increasingly re-evaluating their relationship with alcohol, whether that means embracing the ‘sober-curious’ trend or simply moderating their intake. However, our research also suggests that many more would be persuaded do so if they could replace booze with appealing healthy alternatives.“

He added, “Given the scale of this market need, and the increasingly wide range of on-trend functional ingredients available, it’s clear that there are still huge opportunities for innovation in the functional beverage space”.

Continue Exploring: US non-alcoholic spirits market projected to soar to $13 Million by 2027: GlobalData Report

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Kalyan Jewellers expands presence in Delhi with two new outlets unveiled by Nora Fatehi

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Nora Fatehi
Nora Fatehi

Kalyan Jewellers, a renowned jewellery retailer, has opened two fresh outlets in Delhi. The new stores, situated in Kohat Enclave (Pitampura) and Sector 7, Rohini, were officially unveiled by Bollywood sensation Nora Fatehi.

To mark the inauguration, Kalyan Jewellers introduced a variety of promotions in the newly opened showrooms.

“The inauguration of our two new showrooms in New Delhi is a significant milestone for us. We are not just expanding our geographical footprint but also bringing our unique jewellery experience to more customers,” said Ramesh Kalyanaraman, Executive Director of Kalyan Jewellers.

Continue Exploring: Kalyan Jewellers unveils first Ayodhya showroom, inaugurated by Amitabh Bachchan

“As we celebrate these launches in New Delhi, we are also eagerly looking forward to the launch of our 250th showroom globally, in Ayodhya. With this we will mark another landmark moment in our three-decade-long journey,” he added further.

The new showrooms will showcase Muhurat, a bridal jewellery collection curated from various regions of India. Additionally, they will feature exclusive sections dedicated to Kalyan’s renowned house brands, including Tejasvi (Polki jewellery), Mudhra (Handcrafted Antique Jewellery), Nimah (Temple Jewellery), Glo (Dancing Diamonds), Ziah (Solitaire-like Diamond Jewellery), Anokhi (Uncut Diamonds), Apoorva (Diamonds for Special Occasions), Antara (Wedding Diamonds), Hera (Daily Wear Diamonds), Rang (Precious Stones Jewelry), and the recently launched Lila (Colored Stones and Diamond Jewellery).

“I am thrilled to be associated with this iconic brand which has time and again revolutionized India’s jewellery industry with its pioneering initiatives. I am confident that patrons in the region will enjoy the unique jewellery experience of the brand,” said actor Nora Fatehi.

Continue Exploring: Warburg Pincus offloads 8.4% stake in Kalyan Jewellers for INR 2,937

Based in Thrissur, Kerala, Kalyan Jewellers has established a significant foothold in the Indian market for almost thirty years. The brand recently disclosed a 21.51% increase in consolidated Profit After Tax (PAT), reaching INR 180.37 crore for the December quarter. According to the company’s regulatory filing, its PAT was recorded at INR 148.43 crore during the same period last year.

The brand maintains a notable presence in the Middle East as well.

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Pizza Hut launches global bestseller Melts in India; marks entry into a new category in the Indian market

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Pizza Hut Melts

Pizza Hut, India’s cherished and trusted pizza brand, has launched its global bestseller, Melts, marking the brand’s entry into a new category in the Indian market. Melts is a versatile, convenient, and satisfying meal option that caters to consumers’ on-the-go lifestyle, perfect for anytime, anywhere consumption.

Crispy, cheesy, and abundantly packed, the freshly introduced Melts boasts a thin, crispy crust generously loaded with tantalizing fillings, 100% melted mozzarella cheese, flavorful sauce, all folded over and expertly baked to perfection with a buttery glaze and distinctive spice sprinkles. Having achieved global acclaim, Melts is now customized to cater to Indian taste buds, presenting six delightful variations: Loaded Veggie BBQ, Loaded Chicken BBQ, Cheesy Cheese, Cheesy Cheese Chicken, Magical Makhni Paneer, and Chicken Tikka and Keema Supreme.

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Merrill Pereyra, Managing Director, Pizza Hut Indian Subcontinent, said, “Melts is a product unlike any we have ever had in India, and marks our entry into a brand-new category. We are thrilled to launch such a versatile food item that is so convenient to eat, anytime, anywhere ensuring no interruption, only satisfaction for our customers who are always on the go. The variety of flavours and a great value price point will surely delight and surprise all Pizza Hut lovers, and we are eagerly awaiting their response.”

Whether you’re settling in for a cozy movie night, tackling a hectic workday, or seeking to savor a culinary treat, the crispy, cheesy, and loaded Melts are bound to satisfy your cravings. Priced affordably starting at just INR 169, Melts can be savored at any of Pizza Hut’s 850+ restaurants across India, available for dine-in, delivery, and takeaway. Moreover, Pizza Hut presents enticing Melts combos and deals, including options like the Melts Meal for 1 and the 3-course Meal for 2, adding extra value to your dining experience.

In addition to Melts, Pizza Hut has unveiled its eagerly anticipated Thin N’ Crispy crust, showcasing a range of distinctive topping combinations, thereby expanding the array of pizza crust options available for customers to relish.

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PepsiCo to replace Coca-Cola as exclusive beverage provider for Subway in the US

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Subway
Subway (Representative Image)

PepsiCo Inc. has reached an agreement to become the exclusive beverage provider for all Subway sandwich shops in the US, replacing rival Coca-Cola Co. as the drink supplier for one of the nation’s largest chains.

On Tuesday, Subway announced a new 10-year agreement to feature PepsiCo products, including Mountain Dew sodas, Tropicana juices, and Gatorade sports drinks.

Starting from January 2025, Coca-Cola brands such as Sprite, Fanta, and Diet Coke will gradually phase out from the sandwich chain. This replacement process will extend over several months across Subway’s network of franchisee-owned restaurants.

Continue Exploring: Subway India refreshes its menu with Coca-Cola, ends 5-year PepsiCo partnership

“We are committed to serving Subway through the end of this year,” Coca-Cola said in a statement. The beverage giant has served Subway’s US restaurants for nearly 20 years, the company said.

Subway is Coca-Cola’s largest US fountain account by number of locations, according to Beverage Digest.

Subway, which operates about 20,000 restaurants in the US and nearly 37,000 worldwide, has announced its intention to extend its existing agreement with Frito-Lay, the snack-food unit of PepsiCo, to supply chips and snacks at its establishments until 2030. Moreover, PepsiCo is already the beverage provider for Subway outlets in several regions outside the US.

In 2023, Subway announced a deal to be acquired by the Atlanta-based private equity firm Roark Capital Group for nearly $10 billion. The deal is pending a Federal Trade Commission investigation, according to Politico.

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