India-EFTA trade deal set to boost gem & jewellery exports, industry optimistic

March 15, 2024

The Gem & Jewellery Export Promotion Council (GJEPC) anticipates that the Trade and Economic Partnership Agreement between India and the European Free Trade Association (EFTA) will significantly elevate gem and jewellery exports to Switzerland, Iceland, Norway, and Liechtenstein. The exports are projected to surge to $1 billion in the coming years, a substantial increase from the present $335 million.

On Thursday, the council announced that the EFTA four-country bloc has eliminated customs duties on the entire Chapter 71 (gem and jewellery products), granting Indian exporters duty-free access to those markets.

“The $100 billion bilateral trade pact has opened up immense opportunities for Indian gem and jewellery manufacturers to broaden their export prospects in the EFTA region,” GJEPC chairman Vipul Shah said. “It will also pave the way for new and larger FTAs with many other European countries … I believe there is a huge scope for exporting fine gold jewellery and silver jewellery with high gloss and matte finishes, as well as luxurious diamond and coloured gemstone jewellery.”

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In 2023, the bloc imported finished gem and jewellery products valued at $12.3 billion, with India contributing only 2.7% to that figure. The industry anticipates that the trade partnership will enable Indian exporters to secure a significantly larger portion of the EFTA market.

According to the trade agreement, imports of various items including natural and cultured pearls, natural rough diamonds, precious and semi-precious colored gemstones, polished synthetic stones, and diamond stone dust and powder from EFTA countries into India will gradually become duty-free over a period of five, seven, or ten years. Customs duty on imported cut and polished diamonds, precious and semi-precious colored gemstones, and polished lab-grown diamonds from EFTA has been reduced from 5% to 2.5% and will be phased out in five equal annual installments. India imports all these items and re-exports them after value addition.

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DoorDash launches SafeChat+ AI feature to combat verbal abuse and harassment on platform

SnackTeam

March 14, 2024

DoorDash has introduced SafeChat+, an AI-driven feature designed to mitigate instances of verbal abuse and harassment within its platform.

The initiative aims to protect both customers and delivery drivers, fostering a communication environment that is respectful and secure.

When SafeChat+ detects potentially inappropriate interactions, it gives drivers the ability to cancel orders without any impact on their ratings.

The feature also ends any ongoing chat if inappropriate conversation arises after the delivery has been completed.

Customers experiencing inappropriate behavior from drivers can choose to reach out to DoorDash support for assistance.

DoorDash stated, “Our trust and safety team will investigate all incidents identified by the new tool and take appropriate actions to enforce our policies, which strictly prohibit any verbal abuse or harassment.”

Despite DoorDash’s high safety record, with “more than 99.9%” of deliveries reported as incident-free, the platform recognizes verbal abuse as the most common safety-related concern.

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SafeChat+ tackles this issue by scanning over 1,400 messages per minute, searching for signs of inappropriate communication.

The AI tool is capable of processing multiple languages, including English, French, Spanish, Portuguese, and Mandarin.

“DoorDash takes privacy extremely seriously and that’s why the new feature does not access any personal information and only looks at the content of the message to identify inappropriate, abusive or harassing language,” the company’s statement went on.

In December 2023, DoorDash partnered with ParTech, a subsidiary of PAR Technology, to integrate DoorDash with PAR’s Brink POS software and MENU Link, thereby improving the omnichannel ordering experience.

In the same month, the food delivery platform, along with Uber Eats, announced plans to cease pre-delivery tip requests, as reported by WSYX ABC 6.

The platforms intended to postpone tip prompts until after deliveries had been successfully completed, eliminating the need for customers to tip in order to receive faster service.

Continue Exploring: DoorDash and Uber Eats to stop pre-delivery tipping, promising improved delivery experience

Kishore Biyani’s daughters Ashni and Avni set to re-enter retail space with Foodstories venture

SnackTeam

March 14, 2024

Ashni Biyani and Avni Biyani, daughters of Kishore Biyani, the founder of the now defunct retail house The Future Group, are re-entering the retail space by launching a gourmet food store called Foodstories. According to a report by ET, the venture will be fully backed by a family office, with insights suggesting that the Narottam Sekhsaria family office (NSFO), one of the early-stage backers of Nykaa, will be providing the necessary support.

The mail sent to NSFO did not elicit a response.

The first Foodstories outlet is set to open at Ambience Mall in New Delhi.

Following the store launch, the digital content-to-commerce platform is slated to be launched by the end of March.

“Consumers can shop in stores, online, through WhatsApp, and our soon-to-be-unveiled website and app,” said Ashni Biyani.

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Foodstories will encompass an 8000-square-foot retail format dining café, offering a range of products including a wholly organic estate-to-cup coffee program, a single-origin chocolate experience, bespoke cheese, single-origin spices and dry fruits, as well as farm-sourced fruits and vegetables.

Avni Biyani said, “We’re building a community and platform for the dedicated entrepreneurs, growers, farmers, artisans, and food lovers.”

Foodstories is under the umbrella of the Biyani sisters’ startup, Honestly Italian Private Limited, which is presently running an Italian pantry essentials brand called Sorrentin.

During the pandemic, The Future Group, previously a flourishing retail company, encountered financial challenges. Consequently, it opted to divest its retail and wholesale businesses to Reliance. However, this transition was interrupted by Amazon’s intervention, citing a non-compete clause preventing The Future Group from selling its retail assets to rivals such as Reliance.

Continue Exploring: Liquidation looms for Future Retail as buyer search hits roadblocks

Hamleys expands presence in Italy with grand opening of flagship store in Rome

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SnackTeam

March 14, 2024

Hamleys, a renowned toy brand under the umbrella of Reliance Brands, has expanded its presence in Italy by unveiling its second flagship store in Rome, nestled within the esteemed Galleria Alberto Sordi. This strategic expansion, carried out in partnership with Giochi Preziosi S.P.A., a leading toy manufacturing and distribution entity in Italy, comes hot on the heels of the recent inauguration of a store in Milan.

Spanning across two levels and a mezzanine, the new Hamleys outlet covers an expansive area of over 1,360 square meters, exclusively dedicated to toys. Reflecting the iconic Hamleys brand, the store’s design incorporates the familiar red and white colors, subtly paying homage to Rome’s renowned landmarks.

Highlighting meticulously organized brand sections, the store presents cherished toy brands such as Lego, Nerf, and Barbie, along with an exclusive Build-A-Bear area. Upon entering, visitors are greeted by Hamleys’ vibrant mascots, including the Ringmaster, Toy Soldier, Rag Doll, and Hamley and Hattie bear, creating an engaging atmosphere for an unforgettable experience.

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Sumeet Yadav, CEO of Hamleys Global, expressed pride in the brand’s expansion into Rome, deeming it a pivotal milestone in their global expansion. He underscored their dedication to bringing Hamleys’ timeless allure to renowned cities worldwide. “Each new market breathes life into our storied legacy, reaffirming our pledge to stand as the world’s premier toy emporium,” he stated. Following the enthusiastic reception in Milan, this marks our second collaboration with the Giochi Preziosi Group (GP Group) in Italy. “We eagerly anticipate spreading joy and enchantment to children and families throughout Italy,” Yadav concluded.

Enrico Preziosi, founder of the Giochi Preziosi Group, expressed satisfaction with the retail expansion of the English brand, highlighting the success of the first Italian store in Milan, which has attracted 800 thousand visitors to date.

“…We are certain that Rome will also become very attached to this shop, and that not only the citizens but also the many tourists who visit our Capital every year will be happy and amazed to find Hamleys just a few minutes away from the Trevi Fountain. A fil rouge between history and historical brands in Rome’s shopping salon,” added Enrico Preziosi.

In July 2019, Reliance Brands Limited (RBL) ventured into the international market by acquiring Hamleys’ global operations, marking its inaugural foray abroad. Prior to this, RBL had been managing Hamleys’ franchise stores in India since 2010.

Continue Exploring: Govt pushes for Indian toy sector expansion with Snapdeal, Walmart collaborations

Gap expands footprint in India: Reaches 30-store milestone with new outlets in Mumbai and Pune

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SnackTeam

March 14, 2024

Gap Inc., a renowned Californian clothing and accessories retail chain, has reached the 30-store milestone in India with its latest outlets in Mumbai and Pune, as announced by a company official on social media.

The Reliance Retail-operated brand has inaugurated its 29th store in Pune, located at The Ark Highstreet, Mohammadwadi, and its 30th store in Mumbai, situated at R-City Mall, Ghatkopar West. This marks the fifth addition to Gap’s store presence in Pune and the third in Mumbai.

“Hello Pune and Mumbai, Gap comes again to Pune and Mumbai,” Mukesh Sinha, channel head at Gap said in a LinkedIn post.

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The newly opened stores provide a tech-enabled shopping experience, featuring smart trial rooms, express check-out, and an omni-channel experience.

In February 2023, the apparel retailer inaugurated its first full-fledged store in India at Infiniti Mall, Mumbai, after setting up over 50 Gap shop-in-shops in 2022.

Gap Inc. was established in 1969 by Donald Fisher and Doris F. Fisher. The company offers a range of apparel, accessories, and personal care products for men, women, and children through its retail outlets, franchised stores, and online platforms.

The company is divided into four main divisions: Gap, Banana Republic, Old Navy, and Athleta.

Reliance Retail Ltd (RRL), the retail subsidiary of Reliance Industries Ltd., manages a variety of fashion and lifestyle brands, including Reliance Trends, Avantra by Trends, Azorte, Yousta, Fashion Factory, and Centro. Additionally, the company boasts a portfolio of more than 50 international brands, such as Armani, Burberry, Diesel, Gas, Marks & Spencer, Superdry, Brooks Brothers, and Steve Madden.

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Tiger Yaki debuts in Bengaluru, bringing a fusion feast of Korean and Japanese delights

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SnackTeam

March 14, 2024

Tiger Yaki, a dynamic fast-casual eatery, is gearing up to launch in Bangalore, presenting an enticing fusion of Korean and Japanese cuisine. Brought to the city by ASAR Hospitality, co-founded by Mohammed Aseem, Rohit Golia, Aryan Menon, and Sarfaraz Nawas, Tiger Yaki promises to inject vibrancy and excellence into Bangalore’s rich culinary landscape.

Conveniently situated at St. Marks Road (Opposite SBI), Tiger Yaki goes beyond merely offering a delectable menu, striving to provide an unparalleled dining experience. Embracing innovation, convenience, and a lively ambiance, it transcends the definition of a mere restaurant to become a celebration of both tradition and modernity.

With a large and youthful demographic boasting disposable income, Bangalore presents an audience hungry for trendy and distinctive fast food experiences. Tiger Yaki is poised to capture the hearts of this demographic with its exquisite blend of authentic Asian flavors and varied textures. The rising interest in Asian cuisine, especially Japanese, further solidifies Bangalore’s status as the ideal market for Tiger Yaki. The city has embraced the pan-Asian culinary wave, and Tiger Yaki aims to be at the forefront of this gastronomic revolution.

Established just nine months ago by Chef Rahul Vasandani and Karan Sharma in a charming 375 square feet outlet nestled in Pali Hill, Bandra, Mumbai, Tiger Yaki has rapidly ascended to culinary stardom, synonymous with excellence in Korean and Japanese cuisine. Tiger Yaki distinguishes itself with its commitment to crafting culinary marvels from meticulously selected fresh ingredients. Each dish offers a harmonious fusion of authentic Asian flavors, guaranteeing an unparalleled gastronomic adventure. Whether indulging in the tantalizing Takoyakis, the flavorful gyozas, the irresistible cheese corn dogs, the sizzling Fiery Tiger, or the savory Bulgogi Tiger accompanied by Spicy Kimchi, Tiger Yaki promises a sensory feast unlike any other.

Lone Wolf elevates drinking experience with launch of Alpha and Maverick beers in stylish cans!

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SnackTeam

March 14, 2024

Following the immense success of its premium beers, Lone Wolf has introduced two of its popular drinks, Lone Wolf Alpha and Lone Wolf Maverick, in cans. Previously offered in bottles, Lone Wolf has garnered a strong following among beer enthusiasts, and the availability of these beverages in cans is poised to elevate the drinking experience for consumers. Initially launching in Delhi-NCR and Goa, these two canned beers will subsequently roll out to other cities.

Atul Kumar Singh, Co-Founder & Managing Director at Lone Wolf, said, “We are amazed by the love and acceptance that we have received from our customers. Our brand has already become a default choice of many beer lovers and we are glad we are able to bring experiential new flavors and taste to our customers. Our passion to better our drinks in many ways led us to launch our beer in cans. Cans preserve taste better than bottles and also keep carbonation intact, enriching the drinking experience. We are sure our customers will love the new beer cans and carry them more conveniently.”

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There are several advantages that underscore the superiority of beer in cans over bottles, which Lone Wolf capitalizes on. Canned beer benefits from reduced exposure to light, thereby preserving its taste for extended durations. Additionally, cans are more convenient for customers to transport and chill rapidly compared to bottles. Embodying the brand’s dynamic and youthful essence, Lone Wolf’s beer cans boast a premium matte finish, radiating sophistication through their striking design, setting them apart. These canned offerings seamlessly align with the brand’s identity, exuding its ethos, appearance, and ambiance.

CYK Hospitalities spearheads launch of Nagari restaurant, elevating Agra’s culinary scene

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SnackTeam

March 14, 2024

CYK Hospitalities, India’s leading food and beverage consultancy firm, has helped launch an innovative new restaurant ‘Nagari’ in the city of Taj-Agra, adding a new dimension to the culinary landscape of the city. Nestled in the vibrant Padam High Street, Nagari presents a culinary escapade for locals and tourists alike. Situated conveniently on Fatehabad road, opposite the Hilton Hotel, Nagari beckons patrons with its thoughtful approach to showcase authentic Indian vegetarian cuisine.

CYK Hospitalities provided comprehensive services, including menu conceptualization, engineering, staff recruitment and training, recipe development, and SOP establishment. Additionally, CYK managed audits, vendor relations, uniform design for staff, orchestrated the restaurant’s launch, and meticulously crafted branding and design elements. With meticulous attention to detail, CYK Hospitalities ensured that Nagari embodies excellence in every aspect of its operation.

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The menu at Nagari celebrates the diverse tapestry of Indian vegetarian cuisine from all corners of the country. Standout dishes include Dal Batti, a fondue originating from Rajasthan, Chole Kulche from Delhi’s Chandni Chowk, and Lucknow’s renowned Dilruba Seekh Kebab. Innovatively reimagined offerings like Aloo Gobhi Missi Tart and Dahi Donut present a contemporary twist, while timeless classics such as Kathal Bhel and Dal Makhani Shots satisfy discerning palates. For a complete dining experience, Nagari offers tasting platters featuring a main course, biryani or bread, salad, raita, chutneys, and papad.

The restaurant’s interior design creates a simple yet invigorating atmosphere by seamlessly blending modern and traditional elements. Harmonizing with the culinary offerings, Nagari’s interior design is meticulously crafted to embody the spirit of its cuisine. A color palette of beige, royal blue, and green infuses a sense of refinement into the dining experience.

Simranjeet Singh, Director, CYK Hospitalities, said, “We are thrilled to unveil Nagari, a restaurant that showcases one of the best of Indian vegetarian cuisines from various parts of our country. From ideation to execution, our team has been involved in every aspect of this project, ensuring an exceptional dining experience for the guests.”

Talking about the experience of working on Nagari, Pulkit Arora, Director, CYK Hospitalities, said, “Working with Nagari’s team has been a great experience. We have tried to be instrumental in every aspect of Nagari’s journey, from inception to execution. Our team has meticulously attended to every detail, ensuring that Nagari exemplifies excellence across all its operations. We have provided comprehensive services ranging from menu conceptualization and engineering to staff hiring, training, and SOP creation.”

Nagari marks the 14th project undertaken by the consultancy firm in Agra, adding to its extensive portfolio of over 150 successful projects. The firm has collaborated with renowned F&B brands nationwide and internationally, including Sri Lanka, Dubai, and Canada.

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ITC Bingo unveils fiery Korean-inspired chips in collaboration with K-pop star Aoora

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SnackTeam

March 14, 2024

Capitalising on the Indian consumers’ love for all things Korean, ranging from K-drama to K-pop to K-cuisine, ITC Bingo has partnered with South Korean singer Aoora to introduce savory snacks inspired by the flavors of Korea.

ITC Bingo!’s newest release, Bingo! 2X Hot and Spicy Korean-style chips, have hit the market alongside Aoora’s latest track – “Maeun Maeun,” translating to “Spicy, Spicy” in Korean.

The catchy song aligns with the “vibe of the brand,” according to the brand.

With a comprehensive 360-degree media campaign, Bingo! aims to engage its audience across a multitude of platforms. Leveraging social media channels, the brand endeavors to spark excitement prior to the launch. Furthermore, Bingo! will feature prominently in K-Pop and Gen Z music lineups on major platforms like Spotify and YouTube. Strategic placement of promotional content, showcasing the brand’s song, will span movie, music, and general entertainment channels. Additionally, the brand has partnered with 15 influencers, including Korean influencers in India, Indian influencers in Korea, and food vloggers, to amplify awareness about the upcoming product.

Famed for its inventive snacking offerings, ITC Bingo! has pioneered numerous industry-first products such as Mad Angles! and Hashtags!, delivering a fusion of distinctive textures and flavors to consumers. Acknowledging the increasing consumer inclination towards exploring diverse flavors, particularly those of Korean origin, Bingo! strives to cater to this demand with its range of Korean-style chips.

Research indicates an increasing interest among consumers, particularly Gen Z females, in exploring Korean flavors and culture. This aligns with Bingo!’s strategy to introduce a product that authentically captures the fiery essence of Korean-style flavors fused with the familiar taste of Bingo!’s potato chips.

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Suresh Chand, VP and Head of Marketing, Snacks, Noodles and Pasta, ITC Foods, said, “The Korean culture has significantly penetrated in India especially among the GenZ audience. We, too, noticed that our consumers are seeking Korean experiences in snacking. Catering to this demand, we have launched the all new first-of-its kind spicy, tangy Korean-Style Chips in the Indian market. Infused with Korean-inspired flavours tailored to the spice-loving palates of India, we are confident that this range will delight our consumers.”

Spokesperson from Tonic Wordwide said, “This collaboration between Bingo and Aoora is twice as spicy. ‘Maeun’ means spicy in Korean. The new flavour is so spicy that we had to add another ‘Maeun’! As an agency, we are obsessed with the consumer, their behaviour, so when it came to launching a product that is for the GEN-Z, we wanted to do it in their language. K-Pop, is way beyond a music genre for the audience, it’s a part of their culture. The catchy song captures the core essence of the new flavours Korean style. Super excited!”

Continue Exploring: South Korean food exports soar to record $8.27Bn in 2023, instant noodles lead the charge

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NewsHub

India-EFTA trade deal set to boost gem & jewellery exports, industry optimistic

DoorDash launches SafeChat+ AI feature to combat verbal abuse and harassment on platform

Kishore Biyani’s daughters Ashni and Avni set to re-enter retail space with Foodstories venture

Hamleys expands presence in Italy with grand opening of flagship store in Rome

Gap expands footprint in India: Reaches 30-store milestone with new outlets in Mumbai and Pune

Tiger Yaki debuts in Bengaluru, bringing a fusion feast of Korean and Japanese delights

Lone Wolf elevates drinking experience with launch of Alpha and Maverick beers in stylish cans!

CYK Hospitalities spearheads launch of Nagari restaurant, elevating Agra’s culinary scene

Gopal Snacks makes market debut with nearly 13% discount on stock

ITC Bingo unveils fiery Korean-inspired chips in collaboration with K-pop star Aoora