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.
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.
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.
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.”
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, 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.
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.
The IPO was entirely an OFS (Offer For Sale) of equity shares by promoters and other selling shareholders.
The price range for the offer was at INR 381-401 a share.
Founded in 1999, Gopal Snacks is a fast-moving consumer goods company in India, offering Namkeen, western snacks, and other products across India and internationally.
As of September 2023, the Namkeen makers’ products were sold in 10 states and 2 union territories. It has a network of 3 depots and 617 distributors.
The company operates three manufacturing facilities — Rajkot and Modasa in Gujarat, and Nagpur in Maharashtra.
Furthermore, it runs three ancillary manufacturing facilities that mostly produce ‘besan’, raw snack pellets, seasoning, and spices.
These are mainly used internally to make finished products like namkeen, gathiya, and snack pellets.
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.
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!”
The funds will be utilized to support brand-building initiatives and augment the existing capacities and distribution network. With a strong foothold already established across the country in the HoReCa (hotels, restaurants, and cafes) segment, the company is now focusing on expanding its distribution and establishing a presence in India’s retail market.
Darius Pandole, MD and CEO of Private Equity of JM Financial said, “The Indian bottled water market is highly under-penetrated and fragmented, and we are witnessing a structural shift in consumption from the unorganized to the organized market, owing to factors like hygiene, and a general rise in health awareness in a post covid world.”
This marks the fifth investment made by JM Financial India Growth Fund III. The fund, a sector-agnostic growth-capital private equity entity, targets high-growth-oriented companies within the small to mid-market space. Its investment focus spans across various sectors including financial services, consumer goods, IT/ITeS, infrastructure services, and manufacturing.
Nayan Shah, Founder and CEO of Energy Beverages said, “Pioneering vertical labelling, square-shaped bottles, I demonstrate our commitment to innovation. The capital infusion and partnership with JM Financial Private Equity will help us fast-track our current and future expansion plans.”
Decathlon, the global sports goods company, is embracing a new strategy focused on digital innovation, sustainability, and promoting health and diversity.
The new strategy hones in on three primary areas: enhancing customer experience, promoting sustainability and modernization, and streamlining and digitizing the entire business model.
The company aims to go beyond conventional product offerings and engage customers in a holistic journey. As part of this initiative, Decathlon has unveiled a fresh brand identity and logo.
The newly crafted identity, a project that Decathlon and its team have been diligently refining since 2022, portrays Decathlon as a global multi-specialist sports brand.
The new logo incorporates the company’s wordmark along with a fresh symbol dubbed the Orbit.
The second pillar of Decathlon’s ambitious new strategy is sustainability. The company is actively working on developing circular business models and reimagining product design with a focus on environmental impact.
The company will concentrate on innovating its production processes and integrating new renewable materials.
The third area entails modernizing, streamlining, and digitizing the entire business model.
Decathlon, operating as an end-to-end business, seeks to revolutionize processes from idea inception to product re-utilization.
The retailer is additionally launching an enhanced digital shopping experience with upgraded features on Decathlon’s e-commerce platforms.
The UK has introduced its redesigned e-commerce website, with plans for other countries to follow suit.
Stores worldwide will also reflect the new identity through signage and layout, offering immersive experiences to all customers.
Decathlon’s stores will include showrooms, discovery stations, circular hubs for repairs, second-life products, rental options, and lockers for order pickups.
Decathlon Global CEO Barbara Martin Coppola said, “At Decathlon, we believe that sport has a vital role to play in helping societies to be healthier and happier. Sport helps us to reconnect with our humanity, with the planet and with our physical selves. So, we took a moment to ask ourselves who we really want to be, and why we exist as an organisation.
“From this, we wrote our North Star. This is our long-term ambition and our guiding light to have all the positive impact we can have in the world. Guided by the North Star, a new purpose was born, to Move People Through the Wonders of Sport.
“We are all incredibly excited and proud to share with you the new chapter of Decathlon. One that will help many people around the world experience the wonders of sport.”
Decathlon boasts a workforce of 100,000 teammates and operates 1,700 stores spanning across 70 countries and regions.
In February 2024, the retailer unveiled the release of an immersive shopping app tailored for Apple Vision Pro.
Hyatt Hotels Corporation has unveiled its strategy for expanding the Hyatt brand portfolio within the India and Southwest Asia region. The corporation disclosed that it has a lineup of eight new hotels set to open in diverse leisure and urban locales throughout 2024.
The hospitality chain stated that this expansion aligns with the expected resurgence of both leisure and business travel in the country and the subcontinent.
The chain said that in 2024, its brand expansion in India and Southwest Asia will continue, featuring its Hyatt Regency, Hyatt Place, and Hyatt Centric brands.
Hyatt recently inaugurated Ronil Goa, marking the entry of the JdV by Hyatt brand into India. This addition makes the JdV by Hyatt brand the ninth Hyatt brand to be introduced in the country.
The chain emphasized that the Hyatt Regency brand serves as a pivotal growth catalyst for Hyatt in the region, highlighting upcoming openings of Hyatt Regency Kasauli and Hyatt Regency Ghaziabad.
The Hyatt Place brand is anticipated to enter three new locations in the region, featuring Hyatt Place Aurangabad, Hyatt Place Haridwar, and marking its debut in a new country with Hyatt Place Dhaka Uttara (Bangladesh).
The Hyatt Centric brand is set to broaden its portfolio with the anticipated launches of Hyatt Centric Hebbal Bengaluru and Hyatt Centric Ballygunge Kolkata.
“Southwest Asia continues to demonstrate high growth potential and is among the top global growth markets for Hyatt. We have strong expansion plans for 2024 across our portfolio encompassing our legacy brands like Hyatt Regency, Hyatt Place and Hyatt Centric across destinations that will strengthen our brand presence in key markets. This expansion represents our strong commitment and confidence in the Southwest Asia region,” said Sunjae Sharma, managing director, India and Southwest Asia, Hyatt.
“Complementing our current portfolio of Hyatt brands in the country, the introduction of the JdV by Hyatt lifestyle brand in India signifies a strategic milestone in Hyatt’s thoughtful expansion within the leisure and business segments. We look forward to further enhancing our distinctive brand footprint throughout the sub-continent,” Sharma added.
In 2023, Hyatt expanded its brand presence in India with the inauguration of Hyatt Place Bodh Gaya, Hyatt Place Vijaywada, Hyatt Place Goa Candolim, and Hyatt Centric Rajpur Road Dehradun. The chain emphasized that this expansion across leisure, corporate, and spiritual tourism segments has fortified Hyatt’s brand presence in India and the Southwest Asian region, providing travelers and World of Hyatt members with increased options to stay at Hyatt hotels.
With these new additions, Hyatt’s portfolio in India and Southwest Asia will encompass nine distinct brands: Andaz, Alila, Park Hyatt, Grand Hyatt, Hyatt Regency, Hyatt, Hyatt Centric, Hyatt Place, and JdV by Hyatt.
NITI Aayog has suggested a range of initiatives aimed at enhancing exports from micro, small, and medium enterprises (MSMEs). These measures include establishing a comprehensive trade portal, facilitating ease of merchandise exports, improving access to export finance, and establishing a centralized information hub for exporters, among other strategies.
In its report titled “Boosting Exports From MSMEs,” NITI Aayog stated that to enhance ecommerce exports, it is crucial to create a distinction between “exporter on record” (EOR) and “seller on record” (SOR), allow a reduction in invoice value without any percentage ceiling for all ecommerce exports, introduce an annual financial reconciliation process for ecommerce exporters, exempt import duties on rejects/returns, consider an exemption on reconciliation requirements for shipments up to $1000 until the “National Trade Network” (NTN) is implemented, and create a “green channel” clearance for e-commerce exports.
The report also presents six overarching recommendations aimed at boosting MSME exports, advocating for “green channel” clearances for MSME ecommerce exporters to tackle India’s lag in ecommerce utilization compared to China.
In 2022, China’s MSME ecommerce exports soared to $200 billion, significantly surpassing India’s figures. The report pinpoints intricate compliance procedures, especially payment reconciliation, as a major hurdle for small exporters.
Regarding the facilitation of merchandise exports, the Aayog has suggested easing compliance requirements for MSMEs for a limited period while implementing a system for timely disbursement of incentives. This approach aims to prevent the blocking of working capital for MSMEs.
The Aayog underscored the notable contribution of MSMEs to employment generation, exports, and overall economic growth, highlighting that exports represent a substantial yet underutilized opportunity for the sector.
In its report, the Aayog highlighted that MSMEs make a substantial contribution to employment generation, exports, and overall economic growth.
According to the report, MSMEs play a critical role in India’s economy, offering significant employment opportunities and contributing to exports and overall growth. With over 110 million jobs and constituting 27.0% of GDP, the sector comprises approximately 64 million MSMEs, engaging 23.0% of the labor force and ranking as the second-largest employer after agriculture.
Despite their significance, MSMEs encounter difficulties accessing export markets due to their limited scale.
“However, the rise of ecommerce platforms presents an opportunity to overcome these barriers. By improving the business environment and easing regulatory hurdles, India can transform its MSME sector into a potent engine for growth,” the report said.
Despite their significance, MSMEs encounter difficulties accessing export markets due to their limited scale.
Moreover, the report underscores sectors such as handicrafts, handloom textiles, ayurveda and herbal supplements, leather goods, imitation jewellery, and wooden products as promising opportunities for Indian MSMEs in export markets, with a combined global value exceeding $340 billion.
Furthermore, it suggests the establishment of a comprehensive national trade portal (NTN) to streamline the export process for MSMEs, enabling seamless operations and enhancing competitive advantage.
The report highlights that access to finance poses a significant challenge for MSMEs. It proposes the promotion of Export Credit Guarantee to improve working capital availability, with the goal of increasing uptake from 10% to over 50% through government incentives.
The proposal suggests the creation of a unified marketplace for export credit providers to foster competition and reduce costs for MSMEs.
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