Zomato launches dedicated services for vegetarian customers with exclusive ‘Pure Veg Fleet’ and ‘Pure Veg Mode’

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March 19, 2024

Zomato, a major player in the foodtech sector, has rolled out a new initiative catering to customers with a 100% vegetarian dietary preference. This initiative includes the launch of a dedicated delivery fleet named ‘Pure Veg Fleet’ and a specialized feature on its app called ‘Pure Veg Mode.’

Zomato’s founder and CEO, Deepinder Goyal, made the announcement on X (formerly known as Twitter).

“India has the largest percentage of vegetarians in the world, and one of the most important feedback we’ve gotten from them is that they are very particular about how their food is cooked, and how their food is handled,” he said in a post, adding that the new launches are aimed at catering to such customers

To solve for their dietary preferences, we are today, launching a “Pure Veg Mode" along with a “Pure Veg Fleet” on Zomato, for customers who have a 100% vegetarian dietary preference. pic.twitter.com/xzV9y9IQbU
— Deepinder Goyal (@deepigoyal) March 19, 2024

Pure Veg Mode will feature a selection of restaurants exclusively serving pure vegetarian cuisine, excluding any establishments offering non-vegetarian items.

Meanwhile, the Pure Veg Fleet will exclusively handle orders from these pure vegetarian restaurants. This implies that meals containing non-vegetarian ingredients or those from non-vegetarian establishments will not be delivered by this fleet.

Goyal mentioned that the introduction of the new feature and fleet will be implemented gradually across the country over the next few weeks.

“In the future, we plan to add more specialised fleets for special customer needs. For example, there’s a special cake delivery fleet coming up with hydraulic balancers which prevent your cake from getting smudged during delivery,” he added.

The development comes a day after Goyal, speaking during the ongoing ‘Startup Mahakumbh’, emphasized the need for startups to constantly innovate. He stated that in today’s rapidly evolving technological landscape, no business model can endure for more than a decade.

Continue Exploring: Blinkit to outgrow Zomato within a year, says CEO Deepinder Goyal

These new launches are also within Zomato’s ongoing series of experiments with novel services and features. Earlier this year, the startup introduced a daily payout feature for certain restaurants and expressed its ambition to achieve 100% delivery using electric vehicles by 2033.

Zomato is additionally establishing a facility to process value-added food supplies for its Hyperpure vertical. These supplies will include sauces, spreads, pre-cut, and semi-finished perishable products.

In Q3 FY24, Zomato achieved its third consecutive profitable quarter, recording a profit after tax of INR 138 Cr. This marks a notable increase from the INR 36 Cr profit reported in the preceding quarter.

Continue Exploring: Zomato reports third consecutive profitable quarter with INR 138 Cr PAT in Q3 FY24

Following these achievements, the startup’s share price has climbed by over 25% year to date. Just this week, Jefferies identified Zomato as one of its top selections for the next five years, anticipating the stock to reach INR 400 within this timeframe.

Zomato’s shares concluded today’s trading session slightly lower by 0.13% at INR 158 on the BSE.

Continue Exploring: Zomato among Jefferies’ top picks for next five years, anticipates 2.5X share price increase by 2029

The Body Shop set to expand with 100 new stores in India by 2025, eyes double-digit growth

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March 19, 2024

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The Body Shop, a UK-based ethical beauty brand, is planning to expand its presence by adding 100 more brand touchpoints by the year 2025.

“India is one of the top markets for The Body Shop globally. Our consistent growth reflects the popularity of The Body Shop and the immense opportunities we are tapping into in the country,” said Vishal Chaturvedi, vice president – retail and operations at The Body Shop.

“We will continue to scale up and focus on omni-channel expansion while leveraging newer opportunities in high convenience formats to build stronger brand affinity in India,” he added.

Continue Exploring: The Body Shop Joins ONDC network, expanding reach of vegan beauty products across India

The brand is currently eyeing double-digit growth, prioritizing expansion in travel retail, standalone stores, beauty specialty outlets, and quick commerce segments.

The retailer recently partnered with Indian actress Diana Penty to promote its British Rose body care line in the Indian market.

The Body Shop teams up with Diana Penty to launch British Rose Collection in India

Operating in India since 2006, The Body Shop has been under the management of Quest Retail Pvt Ltd, a cosmetic manufacturing company based in Delhi.

Currently, it boasts 200 stores nationwide and serves over 1500 cities through its online presence and partnerships with e-commerce brands in various marketplaces.

Established in 1976 in Brighton, England, by Dame Anita Roddick, the beauty retailer now runs approximately 2,500 retail outlets across over 80 countries.

Quest Retail recently informed the media that the restructuring in the UK will not affect the Indian operations of the cosmetics firm, The Body Shop.

Continue Exploring: No impact on The Body Shop India amid UK restructuring, assures Quest Retail

Korean skincare brand Skin1004 makes exclusive debut in India via Reliance Retail’s Tira Beauty platform

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March 19, 2024

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Skin1004, a renowned Korean skincare brand, has exclusively launched its products in the Indian market on Reliance Retail‘s beauty platform, Tira Beauty.

“At Tira, our aim is to offer a curated assortment with the best of global and homegrown brands, catering to the growing demands of India’s booming beauty market. This exclusive partnership with Skin1004 allows us to offer their award-winning Korean skin care products to Indian consumers looking for formulations infused with natural and safe ingredients,” said Bhakti Modi, co-founder of Tira Beauty.

The products will be offered for purchase both online via the Tira app and offline at select Tira stores. This comprehensive product line includes cleansers, toners, serums, creams, masks, and more.

“We like to keep our finger on the pulse of the newest, most impactful and hottest brands across the world and we truly believe that Skin1004 is the next big thing in K-beauty,” said Suhrid Thacker, founder of Katalysst, an e-commerce partner for brands across marketplaces in India, which is also the exclusive India partner of the Skin1004.

Continue Exploring: BIA Brands bolsters skincare portfolio with acquisition of Asa Beauty

“Its powerhouse star ingredient and diverse range of products make me confident in the success of this brand, as we launch exclusively via Tira Beauty, in the Indian market,” added Thacker.

‘1004,’ when pronounced in Korean, sounds like the word ‘angel’ and the brand is often referred to as ‘skin angels’.

“India is an exciting new market for us as we see the Indian consumer becoming more receptive to K-beauty and appreciative of clean beauty brands. With partners like Tira Beauty, the platform on which we are exclusively launching, and Katalysst, which is helping us navigate our India entry, we are confident of the brand’s success and look forward to a warm welcome from Indian beauty enthusiasts,” said Jake Kwak, owner of Skin1004.

In February 2023, Reliance Retail, the retail arm of Reliance Industries Ltd (RIL), launched Tira as an e-commerce platform. Following this, in April, they inaugurated their flagship store situated at Jio World Drive within the Bandra Kurla Complex in Mumbai.

Currently, Tira retails over 150 Indian and international brands in its stores.

Continue Exploring: Reliance Retail ventures into beauty and personal care with Tira, targets 100 locations nationwide

FMCG stocks plunge as sectoral index drops 1.9%: Nestle, Colgate Palmolive lead losses

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March 19, 2024

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Fast Moving Consumer Goods (FMCG) stocks are trading weak on Tuesday with the sectoral index down 1.9 per cent.

FMCG index is among the top sectoral losers. Sensex stock Nestle is down more than 3 per cent.

Colgate Palmolive is down almost 4 per cent. Honasa Consumer is down 3.7 per cent, Tata Consumer is down 3.4 per cent, Patanjali Foods is down 3.2 per cent, United Breweries is down 3 per cent, Godrej Consumer is down more than 2 per cent, Britannia is down more than 2 per cent.

Continue Exploring: FMCG growth to remain sluggish in current year: Emkay Global Report

BSE Sensex is down more than 600 points on broad based selling. Most sectoral indices are trading in the red.

Corporate commentary on the FMCG sector has highlighted the muted demand setting prevailing in Q4FY24, which has been projected by data agencies for CY24, Emkay Global Financial Services said in a recent report.

Nielsen, which tracks retail data, is building a case of 4.5-6.5 per cent value growth for the sector. Kantar, which tracks household consumption data, echoed the same muted outlook, the report said.

With the El-Nino effect remaining till May-24 (agri growth is projected at 1.8 per cent in FY24; a seven-year low), and expectation of no material shift in consumption from elections (as in the past), demand outlook remains weak for 1HFY25, Emkay Global Financial Services added.

Continue Exploring: FMCG sector to experience subdued growth until September quarter in 2024: Kantar

Iconic Brazilian brand Tramontina makes Indian market debut

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March 19, 2024

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Tramontina, a renowned name in household products, boasting a century-long Brazilian legacy, is making its much-anticipated debut in the Indian retail market. With a footprint in over 120 countries, the brand aims to bring its hallmark quality and innovative offerings to India, offering specially curated product lines that cater to the preferences of Indian consumers.

The debut of Tramontina in India signifies a significant milestone in the company’s journey of growth and expansion, following successful ventures in North America, Latin America, and Europe. With a focus on health and safety, the brand will initiate its Indian operations by introducing a line of cookware free from toxins, with plans for rapid expansion into a comprehensive range of household solutions, including cookware, tableware, cutlery, furniture, and more. Simultaneously, Tramontina aims to forge strategic partnerships to establish a cutting-edge manufacturing facility in India, further solidifying its presence and broadening its product portfolio.

Continue Exploring: California lifestyle apparel brand Dockers makes big bet on Indian market, plans five store openings in first year

Marcelo Borges, CEO of Tramontina US said, “With our foray into the dynamic Indian retail landscape, we are excited to extend Tramontina’s legacy of craftsmanship and innovation to discerning Indian consumers. Our diverse product portfolio caters to a wide array of household needs, blending practicality with elegance, and we are confident of a warm reception in India. We are assembling a seasoned leadership team in India, led by Aruni Mishra, to oversee operations and ensure an unparalleled experience for our Indian clientele.”

Aruni Mishra, CEO of Tramontina India said, “I am delighted to embark on this new chapter with Tramontina as we enter the vibrant Indian market. With a burgeoning young demographic in the country, there is a growing inclination towards cooking and embracing a healthy lifestyle. Tramontina is well-positioned to meet this evolving demand by offering Indian consumers durable products that prioritize health and safety, ensuring a 100 percent worry-free cooking experience.”

Founded in 1911 in Carlos Barbosa, South America, Tramontina has become a household name over the past century. With a vast product range of more than 22,000 offerings spanning cookware, furniture, appliances, and more, the brand’s meticulous manufacturing processes ensure products that are not only aesthetically superior but also durable.

Continue Exploring: After four years of R&D, Kikkoman launches exclusive dark soy sauce tailored for the Indian market

To showcase its dedication to sustainable practices, Tramontina maintains an extensive Environmental Management Program. This program ensures the careful utilization of natural resources, emphasizing the brand’s commitment to environmental responsibility.

As it enters the Indian market, Tramontina plans to introduce an initial lineup featuring a “worry-free” cookware range and its acclaimed knife collection. Subsequent phases will include offerings of flatware and tableware assortments. Engineered to meet the demands of everyday home cooks and professional chefs alike, this professional-grade cookware is crafted without toxins and PFAS, ensuring safety and preference among Indian households. Tramontina aims to enhance household experiences for Indian consumers, striving to establish itself as an indispensable part of Indian homes for generations to come.

Delhi govt extends existing excise policy for fiscal year 2024-25

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March 19, 2024

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The Delhi government has extended its prevailing excise duty based policy for the coming financial year 2024-25, officials on Monday said.

The competent authority has granted approval for continuation of the excise duty based policy, for 2024-25, to grant wholesale licenses on basis of same terms and conditions of Licensing Year 2023-24, said an order issued by the government’s excise department.

The wholesale licenses are allowed on same terms and conditions of excise duty based policy that is in effect from October 1, 2023, till March 31, 2024, said the officials.

Also, the terms and conditions of all licenses that are renewable every year, are also continued for Excise Year 2024-25, the excise department order said.

Continue Exploring: ISWAI presses for immediate rationalization of excise duties on alco-bev sector

The necessary circulars for these retail and HCR (hotel, club and restaurant) category licenses will be issued in the next few days, added the officials.

The excise duty-based policy regime, under which retail liquor business shifted from private firms to Delhi government enterprises, was implemented in September 2022 and was extended twice earlier in April 2023 and again in October 2023.

The policy was brought after the Delhi government’s ambitious excise policy 2021-22, implemented on November 17, 2021, ran rough weathers due to allegations of irregularities in its formulation and implementation.

Continue Exploring: New excise policy maintains liquor prices except for country-made; premium outlets at transit hubs approved

The policy was scrapped by the Arvind Kejriwal government days after Delhi LG VK Saxena recommended a CBI probe in the alleged irregularities.

The government had promised to bring a new excise policy that has yet not been ready, the officials said.

A committee formed by the government has readied a draft for the new policy that is yet to be taken up by the government, they said.

Under the existing excise policy, four Delhi government corporations run 684 liquor stores across the city.

Continue Exploring: Delhi’s excise department rides high on soaring liquor sales, notching a 9% revenue surge in Q3 2023-24

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

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March 19, 2024

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The innovators behind India’s first AI Cooking Assistant, upliance.ai, have witnessed a notable surge in demand following their recent feature on Season 3 of Shark Tank and a timely infusion of INR 34 crore funding from Khosla Ventures. With sales of over 200 units priced at INR 23,999 each, the brand has experienced a remarkable 243 percent increase in sales, now valued at INR 143 crore, surpassing its initial valuation of INR 100 crore.

Continue Exploring: Upliance.ai raises INR 34 Crore in seed funding led by Khosla Ventures, valuation soars to INR 143 Cr

After their feature on the investment show, the company garnered significant attention across various online platforms, especially among the customer community and digital Key Opinion Leaders (KOLs). Website traffic skyrocketed by 13 times in unique visitors, while social media engagement surged, witnessing a 120-fold increase in monthly followers on Instagram alongside a notable spike on their YouTube channel.

Mahek Mody and Mohit Sharma, Co-Founders said, “We are thrilled to witness the heightened interest in our products following our feature on Shark Tank. The substantial increase in both sales and social media engagement serves as a strong affirmation of the value we bring to Indian homes, reinforcing our steadfast vision for the future. This positive momentum propels us towards an expansive trajectory; our goal is comprehensive growth. Looking ahead, our focus is on expanding into new markets, increasing revenue, and achieving economies of scale, ultimately driving profitability company-wide.”

Continue Exploring: India’s first AI Cooking Assistant, upliance.ai sets sights on 10X growth and INR 150 Crore revenue after star performance on Shark Tank

Having already sold over 900 units and firmly establishing its position in the market, the Bengaluru-based brand is now strategically focused on accelerating product expansion. This involves making significant investments in tooling and advanced manufacturing techniques. With the capital raised, the company intends to build a flexible and skilled team while also exploring partnerships with content creators to enhance its marketing efforts. The strategic expansion plan includes scaling up manufacturing operations and establishing a robust presence in over 10,000 retail stores nationwide, complemented by 30 company-owned experience centers. This forward-thinking strategy marks the next significant chapter in upliance.ai’s journey within the dynamic realm of innovative home tech solutions.

Backed by prominent investors such as Rainmatter, Rukam Capital, Draper Associates, and most recently Khosla Ventures, upliance.ai stands ready to establish itself as India’s leading Direct-to-Consumer (D2C) hardware startup, primed for rapid growth.

Continue Exploring: A-Listers Spice Up Their Portfolios with Bold Bets on India’s Booming F&B Startups

The Pantry launches ‘Wellness Menu’ in collaboration with celebrity nutritionist Neha Sahaya

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March 19, 2024

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The Pantry has launched its ‘Wellness Menu,’ in collaboration with celebrity nutritionist and wellness expert Neha Sahaya.

“We are very excited to introduce this new wellness menu to all our loyal patrons. Our collaboration with Neha Sahaya signifies our dedication to providing our customers with not only delicious and healthy food options but also meals that are nutritionally balanced and nourishing,” says Pankil Shah, co-founder, of The Pantry Guilt-free Goodness.

“We believe that food should not only taste good but should also make you feel good, and this menu exemplifies that ethos,” adds co-founder, Sumit Gambhir.

Continue Exploring: Nestlé India collaborates with SOCIAL and BOSS Burger to debut MAGGI’s plant-based menu across major cities

Drawing upon her profound expertise in food and lifestyle habits, Neha Sahaya specializes in addressing life-altering illnesses such as PCOS, diabetes, thyroid issues, high blood pressure, and weight gain. She skillfully combines her knowledge of healthy eating practices with the potency of nutritious ingredients to craft innovative dishes that emphasize nutritional value without sacrificing taste. Neha Sahaya’s collaborative endeavors include partnerships with notable figures such as Sunil Shetty, Baba Ramdev, and various Bollywood celebrities like Kajal Agarwal and Tanisha Mukherjee, as seen in initiatives like Mission Fit India.

“It has been an absolute pleasure collaborating with The Pantry to create this menu. By combining culinary creativity with evidence-based nutrition, we have crafted dishes that offer a perfect marriage of taste and health. I am confident that these offerings will not only tantalize taste buds but also support individuals in their journey towards optimal health,” said Neha Sahaya.

With a focus on flavor, freshness, and wellness, the menu is conveniently available on Swiggy and Zomato, allowing for easy ordering from the comfort of one’s home or on-the-go. From vibrant salads brimming with seasonal ingredients to nourishing bowls, desserts, and protein-rich shakes, this menu promises to tantalize taste buds while nourishing the body.

Continue Exploring: Scuzo Ice ‘O’ Magic expands into confectionery market, unveils new menu packed with delectable delights!

Kadamba single-malt whisky shines on global stage, named ‘Emerging Brand of the Year’ by Ambrosia Magazine

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March 19, 2024

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In a significant milestone highlighting India’s growing presence in the global spirits industry, Kadamba Single-Malt Whisky has secured prestigious accolades from three of the world’s foremost industry publications. Among them is Ambrosia, Asia-Pacific’s oldest and most widely circulated magazine, which awarded Kadamba Single-Malt Whisky the title of “Emerging Brand of the Year” during a recent illustrious awards ceremony.

These accolades not only honor the rich heritage of the Kadamba dynasty, from which the whisky draws its name and symbolizes the Golden Age of Goa, but also firmly establish India as a producer of world-class single-malt whiskies.

“Kadamba’s victory in bagging several medals is a testament to its exquisite craftsmanship, incorporating the bountiful harvest of Indian barley-malt and achieving a unique zest that captivates with every sip,” said Dr. Mohan Krishna, Founder of Cheers group.

Continue Exploring: Kadamba Whisky wins prestigious title of ‘Best Indian Single-Malt’ at Icons of Whisky awards

Ashwin Balivada, CEO of Cheers group, said, “Aged in a mix of bourbon, sherry, and virgin American oak casks, Kadamba’s Signature Expression delivers a complex, velvety, and full-bodied flavour profile, earning it top honours in its category.”

Dr. Divya Balivada, Global Creative Director of Cheers group, said, “Kadamba, leisurely aged Indian single-malt is nothing short of spectacular. The classic, earthy peat notes are balanced with a touch of salty Goan ocean breeze, it’s a smooth, warm blend that allows all the flavours to dance synchronously.”

Continue Exploring: Rising tide of Indian single malts disrupts Pernod and Diageo in booming spirits market

Kadamba lives up to its hype. Its aroma is richly oaked and intricate, making it perfect for whisky enthusiasts who appreciate malty and nuanced flavors. Exhibiting a pronounced peaty taste, it also carries a subtle hint of sherry trifle, harmonizing the oak, vanilla, and fruit undertones. The whisky culminates in a satisfying spicy finish, offering a distinctive mouthfeel.

Kadamba, meticulously crafted at the prestigious distillery of the Cheers group near the historic town of ‘Kadamba’ in North Goa, stands as an exceptional single malt whisky. Remarkably, it undergoes triple cask maturation, a rarity in the world of whisky, embodying the essence of royalty. It’s akin to discovering a hidden gem, a whisky that astonishes with its complexity and magnificence!

Continue Exploring: Indian alcoholic beverages industry set for margin improvement and sales surge in FY2025: ICRA

Unilever announces spin-off of ice cream business, 7,500 job cuts planned in cost-cutting effort

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March 19, 2024

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Unilever Plc plans to separate its ice cream division, which includes renowned brands like Ben & Jerry’s and Magnum, into a standalone business as part of a cost-cutting program that would also result in 7,500 job losses.

The separation process will begin immediately and is anticipated to conclude by the end of 2025.

“The separation of Ice Cream and the delivery of the productivity programme will help create a simpler, more focused, and higher performing Unilever. It will also create a world-leading ice cream business, with strong growth prospects and an exciting future as a standalone business,” said Ian Meakins, Chair of Unilever.

Continue Exploring: From scoops to sundaes: Ice cream sales set to soar 15-20% this summer

In a broader initiative to boost growth, CEO Hein Schumacher is overseeing the streamlining of the UK consumer-goods giant. The company has emphasized that the job reductions are integral to its Growth Action Plan, targeting €800 million in cost savings over the next three years.

The Unilever Board holds the view that the company should concentrate on a portfolio of exceptionally superior brands within highly appealing categories, supported by complementary operating models. With the Ice Cream business boasting its own unique operating model, the Board has concluded that separating this division will enhance future growth prospects for both Ice Cream and Unilever, as stated in a release.

The company announced that it will explore various options for the separation, with a demerger likely resulting in the establishment of a new publicly listed company being the most probable outcome.

Unilever, known for brands such as Hellmann’s mayonnaise and Domestos cleaners, disclosed that its ice cream business accrued sales of €7.9 billion ($8.6 billion) in 2023.

After the separation of the Ice Cream business and the implementation of its productivity program, Unilever envisions attaining a “structurally higher” margin. Subsequent to this division, the company forecasts achieving mid-single digit underlying sales growth and modest margin improvement.

Continue Exploring: Unilever and Perfect Day collaborate to launch animal-free dairy ice cream

“The separation of Ice Cream will assist Unilever’s management to accelerate the implementation of its GAP, announced in October 2023, which is focused on doing fewer things, better, with greater impact to drive consistent and stronger topline growth, enhance productivity and simplicity, and step up Unilever’s performance culture,” it said.

Building on the initial advancements of the GAP initiative, Unilever stated that it has pinpointed additional opportunities for improving efficiency, which can now be accelerated.

“The proposed changes are expected to impact around 7,500 predominantly office-based roles globally, with total restructuring costs now anticipated to be around 1.2% of Group turnover for the next three years (up from the around 1% of Group turnover previously communicated),” the company added.

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