Winston India’s revenue skyrockets 5x post Shark Tank appearance

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March 13, 2024

Winston India, the innovative lifestyle brand, has achieved an impressive fivefold increase in revenue, profit, and sales following its feature on Shark Tank. This remarkable growth underscores the brand’s dedication to excellence, strategic foresight, and invaluable mentorship from industry experts.

Following its debut on Shark Tank, Winston India has notably broadened its retail footprint across multiple platforms such as Vanity Wagon, Tata 1Mg, Jio Mart, Tira Beauty, Net Mets, Ajio, BlinkIt, and Cred. This expansion correlates with a significant increase in the customer base, surging from 15,000-20,000 customers to an impressive 100,000. Notably, the trimmers and skincare category have emerged as the flagship segment, leading the pack as the best-selling products within the Winston India portfolio.

Himanshu Adhlaka, Co-Founder of Winston India said, “The experience on Shark Tank and the subsequent growth have been nothing short of phenomenal. We are immensely grateful for the mentorship provided by Vineeta and Anupam, their guidance helped us strategise, plan, and network. They not only helped us with better industry insights but also suggested where we should invest, and where we should not. This has been instrumental in guiding us on the right path.”

Continue Exploring: Luggage brand Nasher Miles bags INR 3 Cr investment on Shark Tank India 3

Vineeta Singh, Co-Founder and CEO of Sugar Cosmetics and Investing Shark in Winston India further congratulates the team said, “Congratulations team Winston on 1 year since Shark Tank. It was amazing to collaborate with Winston India and bring the brand from 5 crore to 15 crore, and I am sure 100 crore is not far away. Good Luck!”

Anupam Mittal, Founder of Shaadi.com and Investing Shark, Winston India congratulates the team said, “Congratulations Winston India on this epic journey from Shark Tank and beyond. We are very proud to see how much your brand has grown and can’t wait to see it dominate the personal care market in the country.”

In celebration of this noteworthy achievement and to express gratitude to its dedicated customer base, Winston India is presently hosting the Winston Shark Tank Sale on its website. The sale features discounts of up to 70 percent off on Singles, up to INR 4000 off on combos, and the revelation of unlimited hidden freebies.

Moving forward, Winston India remains committed to elevating customer satisfaction, fostering ongoing product innovation, and amplifying its footprint within the ever-evolving e-commerce realm. Additionally, the brand foresees exclusive launches with prominent e-commerce platforms, marking the onset of the next chapter in Winston India’s journey toward success.

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

BIA Brands bolsters skincare portfolio with acquisition of Asa Beauty

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March 13, 2024

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Fast-moving consumer goods (FMCG)-focused BIA Brands has acquired beauty brand Asa Beauty for an undisclosed amount, aiming to expand its foothold in the beauty and personal care (BPC) space.

This also marks BIA Brands’ second buyout in the skincare segment after it acquired Mumbai-based TrueKind in December last year.

Continue Exploring: BIA Brands makes first foray into skincare with TrueKind acquisition

Established in 2022 by Sudhakar Adapa and Anudeep Chappa, BIA operates as a ‘house of brands’, focusing on developing and expanding various brands. The platform is dedicated to nurturing Indian-origin brands into global entities.

Meanwhile, Asa Beauty, founded in 2020 by Asha Jindal Khaitan and Sukriti Khaitan, offers clean, natural, vegan, and cruelty-free makeup, catering to a selective global clientele that values ethical practices and environmental responsibility.

Adapa, said, “Asa Beauty represents exactly what we aspire to bring under the BIA Brands umbrella – excellence, innovation, and sustainability.”

“With BIA Brands’ strong market presence and innovative approach, we are confident that the brand is in capable hands. We believe wholeheartedly that BIA Brands will elevate Asa Beauty to the heights it truly deserves,” said Asha Jindal Khaitan.

This acquisition comes three months after BIA Brands acquired Mumbai-based TrueKind, marking its initial venture into the skincare sector.

It’s worth noting that BIA also completed three acquisitions within the food and beverage (F&B) sector. These include Brew & Bliss, a specialty coffee brand, Nut-O-Licious, a flavored nuts startup, and La Kah Fay, a blends company.

Last year, the company appointed Karen Wilson Kumar, a former manager at Louis Vuitton and Ferragamo, as its BPC segment’s Chief Executive Officer.

In recent years, investors have been increasingly drawn to Indian startups focusing on FMCG.

Recently, D2C beauty and personal care (BPC) brand Foxtale secured INR 119 Cr (approximately $14.4 Mn) in a funding round led by Singapore-based Panthera Growth Partners.

Continue Exploring: D2C skincare brand Foxtale secures $14 Million in funding led by Panthera Growth Partners

Data indicates that the beauty and personal care market reached $4 Bn in 2022 and is projected to achieve a value of $28 Bn by 2030, with a Compound Annual Growth Rate (CAGR) of 27%.

Cold chain company Indicold secures Pre-Series A funding from Fundalogical Ventures

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March 13, 2024

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Indicold, a tech-enabled cold supply chain company, has secured investment from Fundalogical Ventures (FLV) in its Pre-Series A funding round, marking FLV’s first investment.

The newly acquired funds will be used to focus on tech development, expanding into new geographies, and building a strong team.

Established in 2019 by Niharika Jalan & Kartik Jalan, Indicold is dedicated to constructing a sustainable cold supply chain network tailored for the future. As a comprehensive B2B solution provider in environment-controlled logistics, it ensures swift turnaround times, optimal asset utilization, and decreased operational expenses. Indicold operates through three core verticals: Store, Move, and Prepare, covering essential aspects of the cold supply chain. Leveraging extensive knowledge and experience within India’s cold chain industry, the company has curated a prestigious clientele that includes industry giants such as Amul, Unilever, Britannia, Zomato, Jubilant Foodworks, Theobroma, Baskin Robbins, and more

Continue Exploring: Celcius Logistics: Pioneering India’s cold supply chain with tech-driven solutions for HORECA and beyond

Niharika Jalan, Co-founder CGO, Indicold, says, “We are excited to partner with Fundalogical Ventures in our journey going forward. The ethos of both Indicold and Fundalogical are growth, innovation and sustainability.

Kartik Jalan, Co-founder CEO, Indicold, adds, “Indicold is implementing state of the art automation in cold chain leveraging Deep Tech, AI, and ML with emphasis on sustainability. Our partnership with Fundalogical will accelerate our efforts in this direction.”

Commenting on the investment, Tushar Jani, Sponsor, Fundalogical Ventures, “With the country’s rapidly expanding demand for efficient cold logistics solutions, we see immense potential for growth in this sector. With huge losses in storage and transportation of temperature-controlled food supply chains, Indicold’s visionary founders and innovative operations will bring value-added propositions to their customers.”

Ratna Mehta, CEO & Managing Partner, Fundalogical Ventures says, “We believe that the next decade is going to see a lot of innovation in the supply chain space to support the consumption and manufacturing growth in India. We are excited to partner with Indicold which is building a disruptive platform for cold supply chain solutions.”

Indicold is setting up India’s first frozen Automatic Storage and Retrieval System – a High Bay Warehouse with over 7,000 pallets in Gujarat. This initiative aims to establish new benchmarks in automation and supply chain solutions within India. Additionally, the company has ambitious plans to extend its presence across multiple states, catering to clients spanning diverse industries by offering comprehensive cold chain solutions. Notably, over the past 12 months, the company has witnessed a remarkable threefold year-on-year growth.

Continue Exploring: Cold chain provider Celcius Logistics bags INR 100 crore in funding round led by IvyCap Ventures

Powerlook Apparels expands offline presence: Unveils two new stores in Mumbai, eyes 50 nationwide by 2027

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March 13, 2024

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Powerlook Apparels, a renowned fashion label, has announced the opening of two new brick-and-mortar stores in Mumbai. Alongside this development, the brand has revealed its ambitious plan to invest INR 50 crore in expanding its offline retail presence across the country, with a target of reaching 50 stores by 2027. Powerlook Apparels currently enjoys a strong online presence through leading e-commerce platforms such as Myntra and Flipkart.

“Our expansion journey begins with the opening of these two offline stores in Mumbai. While e-commerce remains pivotal, we believe in the significance of physical stores, allowing customers to engage with our products,” Raghav Pawar, Co-founder of Powerlook Apparels said in a statement.

With the addition of two new stores, the company now operates six offline stores in Mumbai and Thane and Vasai in Maharashtra.

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

The company plans to open 50 stores in Tier-I Tier-2 and -3 cities by 2027 and will be investing in around INR 50 crore in setting up these stores, Pawar said.

According to Amar Pawar, Co-founder & Chief Fashion Designer, the company boasts over 700 SKUs (stock keeping units) and aims to expand its offerings with the introduction of shoes, accessories, as well as new styles of jeans and shirts. This initiative is geared towards providing customers with a broad and inclusive fashion collection.

The company aims to achieve exponential growth in the upcoming years, building on its expected revenue of close to INR 100 crore this fiscal, Amar Pawar said.

He added that Powerlook’s recent appearance on online platforms like Myntra and Flipkart is anticipated to enhance the brand’s offline growth, thereby fortifying its position in the market.

Continue Exploring: French apparel brand Kiabi partners with Myntra for Indian debut

Branded retailers ride high on rising demand for wedding accessories

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March 13, 2024

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Wedding Accessories — (Representative Image)

From traditional safa and mala to modern jooti and brooch, an Indian wedding is no longer complete without a touch of royalty for the groom, as well as his immediate family and friends. These accessories have become indispensable additions for wedding collection brands, often defining the overall look and feel of the celebration.

“While it (accessories) accounts for just 7-8% of the wedding collection sales, customers will just walk off the store if these products don’t match their outfits worth a few lakhs. These accessories are a make or break for brands,” said Mayank Mohan, owner of ethnic menswear brand Mohanlal Sons. “While we sell mala, we had discontinued imitation jewellery earlier, but are now planning to reintroduce them.”

In the past, occasion wear was predominantly catered to by local shops or made-to-order services. However, in the last decade, brands like Manyavar, Mohanlal, Tasva, and Ethnix by Raymond have introduced a level of consistency in the celebration wear segment, particularly in terms of delivery and execution. What initially began with apparel has now extended to include accessories that customers choose to complement their attire.

Continue Exploring: Hotel chains ride the wave of India’s wedding tourism surge with innovative offerings

Pearl necklaces (moti malas) and turbans (safas) have emerged as essential elements in enhancing the groom’s appearance on his special day. Consequently, these styling items offer a compelling rationale for wedding attire brands to broaden their product portfolios. Additionally, even friends and guests are adorning themselves with these accessories at Indian weddings, further emphasizing their significance in the celebration.

“We are not in the business of just selling sherwanis, kurtas, jootis and stoles, and instead focus on the entire look,” said Sunil Kataria, chief executive of Raymond Lifestyle that owns Ethnix. “As part of the selling process, this is an important part of training. It is a must for the groom because his entire ensemble hinges on the accessories. So, when you are selling a sherwani or occasion wear, the whole outfit as a style goes together. If these don’t match, then the sale gets rejected,” he said.

As per the analysis by management consulting firm Wazir Advisors, the apparel and accessories market in India reached an estimated value of $75 billion in FY23, with the ethnic wear sector accounting for approximately 30% of this total, equating to $22 billion.

“This branded play within men’s ethnic is marked by both strong regional players as well as select national players,” said Pakhi Saxena, retail and CPG (consumer packaged goods) practice head at management consulting firm Wazir Advisors. “These players shall continue to garner share of the wedding and celebration accessories category as it lends to increase in basket size, average ticket value and most importantly enhances the customer engagement through offering of ensemble and curation. Accessories enable them to upsell by curating and customising the look,” she said.

Continue Exploring: Wedding-related expenditure remains subdued in FY24, luxury products buck trend, says industry executives

BAT set to divest up to 3.5% stake in ITC through block trade transaction

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March 13, 2024

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British multinational BAT PLC is set to sell up to a 3.5 percent stake in India’s ITC Ltd to institutional investors through a block trade.

In a statement, British American Tobacco PLC (BAT), the single largest shareholder in ITC Ltd (ITC), said its wholly-owned subsidiary Tobacco Manufacturers (India) Ltd (TMI) intends to sell up to 43,68,51,457 ordinary shares in the Indian diversified entity to institutional investors by way of an accelerated bookbuild process (block trade), subject to customary closing conditions.

Based on Tuesday’s closing price of INR 404.25 per share, the value of the total ITC shares planned to be sold by BAT is around INR 17,659.72 crore.

Continue Exploring: ITC’s emphasis on premium products propels personal care business, doubles sales contribution to 38%

“The block trade shares represent up to 3.5 per cent of ITC’s issued ordinary share capital,” it said, adding, following completion of the proposed block trade, BAT will remain a significant shareholder of ITC, with 25.5 per cent holding.

BAT’s initial investment in ITC dates back to the early 1900s and the two companies have a longstanding, mutually beneficial relationship, the statement said.

The company said it intends to use the net proceeds of the block trade to buy back BAT shares over a period ending December 2025, starting with 700 million pound in 2024. It will also continue to allocate operating cashflow to fund investment in its transformation and to further deleverage.

“I am confident that ITC, under the stewardship of its current management, will continue to create further value for its shareholders. We look forward to remaining important shareholders in ITC as it continues its journey of growth,” BAT Chief Executive Tadeu Marroco said.

He further said, “With this transaction BAT can accelerate the start of a sustainable buyback, while enabling us to continue to deleverage towards a new target range of 2-2.5x adjusted net debt/adjusted EBITDA.”

Continue Exploring: ITC sees untapped market potential for YiPPee! Noodles, aims for further growth in the North region

“ITC is a valued associate of BAT in an attractive market with long-term growth potential where BAT benefits from exposure to the world’s most populous market,” the company said.

As one of India’s leading FMCG enterprises, ITC has delivered significant value for its shareholders and BAT continues to be fully supportive of ITC’s management team, performance and strategy, the statement by BAT said.

BAT is into multi-category consumer goods business. Its strategic portfolio comprises global cigarette brands and a growing range of nicotine and smokeless tobacco products, including vapour brand Vuse; heated product brand ‘glo’ and Velo, a modern oral (nicotine pouch) brand.

Apparel Group’s Aldo continues collaboration with Bollywood stars Janhvi Kapoor and Aditya Roy Kapur

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March 13, 2024

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UAE-based fashion and retail conglomerate Apparel Group is continuing its collaboration with Bollywood actresses Janhvi Kapoor and Aditya Roy Kapur for its footwear and accessories brand Aldo, the company has confirmed.

“This partnership has significantly expanded Apparel Group’s reach. This collaboration not only deepens consumer trust in our brand Aldo but also fortifies Apparel Group’s standing commitment towards their consumers in the Indian market,” said Tushar Ved, president, Apparel Group India Pvt Ltd.

The retail giant has strategically selected celebrities who resonate with its customers, leveraging their popularity to extend Aldo’s reach across its 70 stores nationwide.

Continue Exploring: Apparel Group India signs Aditya Roy Kapur and Janhvi Kapoor as faces of ALDO’s new collection

“The collaboration with the talented duo, Janhvi Kapoor and Aditya Roy Kapur, underscores our commitment to authenticity and style at Aldo India. Their active energy and flair strengthen our brand’s credibility and resonate strongly with our consumers. With continued engagement, we look forward to even greater success in the future,” said Abhishek Bajpai, chief executive officer of Apparel Group India.

Recently, Aldo unveiled its Spring ’24 collection, offering a range of products in which each shoe is crafted with Pillow Walk technology for comfort.

“As we unveil Aldo’s captivating Spring ’24 collection, I’m thrilled to be part of a journey that merges style and comfort seamlessly. Each pair tells a unique story, inviting everyone to embrace their individuality with every step,” said Kapur about the collaboration.

Aldo ventured into the country’s market with the launch of its first physical store at Phoenix High Street in Mumbai in May 2005.

Apparel Group oversees a network of over 2025 retail stores, representing more than 80 brands across various platforms, and employs a multicultural workforce of over 20,000 individuals. Among the brands are Bath & Body Works, Tim Hortons, Tommy Hilfiger, Nine West, it Spring, Charles & Keith, Inglot, La Senza, Beverly Hills Polo Club, and Victoria’s Secret.

The company has established a strong presence in the GCC and developed successful avenues for market expansion in India, South Africa, Singapore, Indonesia, Thailand, Malaysia, and Egypt. Moreover, there are ongoing strategies to enter emerging markets like Hungary and the Philippines.

Continue Exploring: Aldo expands presence in India with grand opening of 4th store in Hyderabad, marking 66th outlet in the country

FSSAI to introduce stricter regulations for nutraceuticals and health supplements amid rising concerns over non-compliant products

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March 13, 2024

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The Food Safety and Standards Authority of India (FSSAI) is working on making regulations for nutraceuticals and health supplements more stringent after finding many non-compliant products in the market, according to officials.

Nutraceuticals are products derived from food sources that are believed to provide extra health benefits beyond the basic nutritional value found in foods. They can be available in the form of pills, syrups, capsules, powders, gummies, and chewables.

“The popularity of these products has increased manifold as consumers have become more health conscious,” said a senior FSSAI official, who did not wish to be identified. “We want to make the standards more stringent for the safety of consumers.”

Continue Exploring: Govt panel explores shifting nutraceutical regulation from FSSAI to CDSCO

According to the official, the authority had received numerous complaints regarding non-compliant health supplements being sold in the market. Subsequently, it initiated a nationwide drive to inspect nutraceuticals and health supplements, ensuring quality and safety throughout their manufacturing and sale process.

The issue was discussed by the scientific panel of the food authority recently, as stated by the official. They highlighted that due to the availability of health supplements over the counter, there is a risk of consuming multiple nutrients whose actions might antagonize each other.

He mentioned that because of the unsupervised usage of supplements, individuals often consume them alongside medications, leading to potential interactions that could result in adverse effects.

According to a survey conducted by research firm Pronto Consult, which analyzed nearly 13,000 bills across 15 cities, nutraceuticals constituted 31% of all billings at chemists in September 2023. The survey suggested a significant year-on-year growth of 24% in this segment.

The regulation for the nutraceutical and health supplement category of products was initially enforced in 2018.

Continue Exploring: Dietary supplement innovator Setu Nutrition secures funding from notable HNIs and celebrities

Several changes and amendments were made to them by the FSSAI, with the latest occurring in 2022.

These regulations encompass eight categories of products, including health supplements, nutraceuticals, food for special dietary use, food for special medical purposes, specialty food containing plant or botanicals, foods containing probiotics and prebiotics, and novel foods.

Last year, the FSSAI also issued advisories regarding the implementation of special enforcement drives aimed at verifying the compliance of nutraceuticals and health supplements. As part of the drive, several facilities operating in Baddi, Himachal Pradesh, were inspected and samples collected by the food authority.

Nykaa-KK Beauty eyes aggressive overseas expansion, Gulf region in focus

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March 13, 2024

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Nykaa-KK Beauty, a joint venture between Bollywood star Katrina Kaif, Nykaa, and Matrix India Entertainment, is gearing up for aggressive overseas expansion, with a primary focus on the Gulf region in the coming year, as revealed by the actress-turned-entrepreneur.

“We have just launched in Dubai, and we have quite an extensive rollout plan for the Gulf over the next one year,” Kaif said, adding the company will launch in 2 new markets, without revealing the names.

The company, known for producing products under the Kay Beauty brand, also intends to bolster its offline presence in India. Currently, its revenue is heavily reliant on online commerce.

Continue Exploring: Fenty Beauty by Rihanna set to make Indian debut through Nykaa partnership

“Our sales are dominated by online, but we are expanding our offline sales at a rapid pace. I want to see the brand grow both online and offline, and at the moment we are doing that very successfully,” she said.

In efforts to expand its consumer reach, Kay Beauty has forged a partnership with UP Warriorz, the Women’s Premier League team owned by Capri Global.

“We will shed a spotlight on UP Warriorz players, bringing them to the forefront. I would like to see female athletes celebrated in the world of beauty,” Kaif said, adding that the WPL is an incredible initiative to promote women’s cricket.

Kaif mentioned that Kay Beauty has experienced remarkable growth and is fulfilling orders across more than 1,600 cities, encompassing major metropolitan areas as well as tier-2 and tier-3 cities.

“We have had phenomenal offline growth through our retail stores,” she said.

Kay Beauty products have been successful, she said, since they offer luxury quality at an accessible price point.

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

Hoteliers express discontent over Karnataka’s ban on artificial colors in Gobhi Manchurian

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March 13, 2024

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The Karnataka Health Department’s decision to ban artificial colors while still permitting eateries to serve dishes like gobhi manchurian has sparked discontent among many. Hoteliers have voiced concerns, stating that the decision lacked consultation and has not been well received.

Bruhat Bengaluru Hotels Association president PC Rao said, “The Health Minister has issued a statement concerning the use of colours for gobhi manchurian. It stipulates that all food additives complying with FSSAI Regulations/ISI Standards can utilise red, blue, green, and yellow colours within permissible limits. The directives released by the government lack rationality, and opposing guidelines are also irrational. Prior to making such scientific determinations, consultations with relevant manufacturers and users should have been conducted. We will provide comprehensive feedback to the government on this matter and engage in discussions with them in the upcoming days to rectify the situation.”

Continue Exploring: Karnataka bans artificial food colors in cotton candy and gobi manchurian, warns of severe penalties for violators

Reacting to this, Health Minister Dinesh Gundu Rao said, that out of the 171 samples of gobhi manchurian collected, 107 were found to contain unsafe artificial colours such as tartrazine, sunset yellow, and carmoisine. “A circular has been issued, and awareness programs will be conducted. Strict legal action will be taken against violators, with further sample collection to support legal proceedings. The use of artificial colours in food products is prohibited under the Food Safety and Standards Act, 2006, and its regulations. Any violation will result in legal action, including imprisonment of five years to a life sentence and a fine of INR 10 lakh.”

Physicians also highlighted the dangers associated with the use of artificial colors.

Dr. Muralidhar S Kathalagiri (Sparsh Hospital) said, “Food colourants may add vibrancy to our plates, but there are hidden dangers particularly when non approved colouring agents are used. These synthetic additives, often lurking in our favourite snacks and meals, can disrupt the harmony within our bodies. A food colouring agent Rhodamine B is often used in food which is harmful. Research suggests that these additives can trigger allergic reactions, hyperactivity in children, and may even contribute to long-term health issues like cancer and organ damage. Even though the colours look harmless on our plates, they’re actually hiding harmful stuff that can throw off our body’s balance and make one sick. It’s recommended to avoid these chemicals and stick to natural colours and to colour’s approved by FSSAI for our food to stay healthy.”

Continue Exploring: Tamil Nadu bans cotton candy sales after cancer-causing element detected by food lab

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