Telangana plans to curb home delivery of liquor, authorities set to enforce stricter regulations

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March 9, 2024

With the emergence of numerous mobile apps and individuals providing liquor delivery services to entice customers, the Telangana Prohibition and Excise Department is mobilizing to crack down on this unauthorized practice throughout the state.

While home delivery of liquor remains illegal, this business experienced a surge, especially during nighttime following the closure of regular wine shops.

Continue Exploring: Premiumization trend to fuel India’s soaring liquor industry, Crisil Report reveals

E. Sridhar, the commissioner of the Telangana Prohibition and Excise Commission, voiced serious concern regarding the home delivery of liquor. He emphasized that strict action would be taken against such activities, which contravene the Excise Act and regulations.

“If liquor has to be door delivered, it requires a new law giving it legislative sanction. If anybody is involved in door delivery of liquor, he is violating the law,” the commissioner said.

While excise department officials intend to carry out raids, they may encounter challenges in substantiating the violation due to the unique operational model. Suppliers procure liquor according to customer orders and generate bills in the buyer’s name, after which online marketing agencies step in to facilitate liquor delivery.

Continue Exploring: Uttarakhand introduces new excise policy: Allows bottling of foreign liquor, targets INR 4,440 Crore revenue in FY 2024-25

JDE Peet’s CEO Fabien Simon set to leave company in April

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March 9, 2024

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Fabien Simon, the CEO of leading coffee company JDE Peet’s, will depart from the company next month.

The Jacobs coffee maker announced that Simon, who assumed the role of CEO in 2020, will be departing on April 1st.

No explanations were provided for the leadership transition. Simon started at Jacobs Douwe Egberts as CFO in 2014 and was promoted to CEO six years later.

“On behalf of the board, I want to thank Fabien for leading JDE Peet’s, particularly through a period of macro disruption,” said JDE Peet’s chairman Olivier Goudet said.

“While navigating Covid and high inflation in a more complicated world, Fabien transformed the company into a global coffee and tea powerhouse with brands, talent and sustainability at its core.”

Continue Exploring: abCoffee secures $3.4M in Series A funding led by Nexus Venture Partners, targets 150 stores by end of 2024

Luc Vandevelde, the ex-chairman and CEO of Marks and Spencer, currently serves as the lead independent director at JDE Peet’s. He will assume the interim leadership role while the company searches for a permanent replacement for Simon.

Vandevelde formerly held a position as an executive at Jacobs Coffee during the 1990s. Following the acquisition of Jacobs Suchard by Kraft Foods at the time, he assumed the role of CEO for the French and Italian operations of what was then known as Kraft Jacobs Suchard.

“Luc is a seasoned executive who knows JDE Peet’s and the coffee category intimately, and we are confident in his ability to unlock shareholder value while leading the search for a permanent CEO,” Joachim Creus, the CEO of JAB, the indirect majority shareholder of the company, said.

“JAB has strong conviction in the long-term growth prospects of JDE Peet’s and the resilience of the sector and we are fully committed to our investment in the world’s leading pure-play coffee and tea company.”

Vandevelde is slated to take over as the chairman of JDE Peet’s following its Annual General Meeting in May.

In 2023, the owner of the Tassimo brand achieved sales of €8.19 billion ($8.96 billion), marking a 0.5% increase on a reported basis and a 3.9% increase organically.

Continue Exploring: Costa Coffee and BOSH! team up to introduce delectable plant-based delights across the UK

In 2023, JDE Peet’s reported an adjusted EBIT of €1.13 billion, showing a decrease of 8.1% on a reported basis, yet demonstrating a 1.1% increase organically.

The company’s “underlying profit” declined by 21.6% to €734 million.

When discussing the group’s overall outlook for 2024 with analysts last month, Simon said, “We expect our organic sales growth to come in at the lower end of our medium-term target of 3% to 5%, with a mid-single-digit organic growth in adjusted EBIT, when excluding Russia’s performance.

Amrut unveils exclusive Bagheera and Portonova whiskies in Gurgaon market

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March 9, 2024

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Amrut Distilleries, renowned as the trailblazer of Indian single malt whisky, marks its illustrious 75-year journey in the industry with the exciting release of two exclusive limited edition whiskies tailored for the discerning palate of the Gurgaon market.

Amrut Bagheera (46% ABV) and Amrut Portonova (48% ABV) are the result of meticulous research into single malt whiskies, each painstakingly crafted to showcase unique flavors and characteristics. These new limited edition single malt whiskies were unveiled in Gurgaon by the esteemed whisky expert Jim Murray, alongside Mr. Rakshit Jagdale, Managing Director of Amrut Distilleries.

Continue Exploring: Indigenous spirits shine: India’s liquor exports soar, set to break $1 Billion barrier

“Amrut Bagheera and Amrut Portonova are exclusive and premium expressions from our single malt whiskies portfolio, as these are limited edition and are launched here in Haryana. Our objective in releasing these two expressions in India is to offer a unique experience for whisky lovers. We see a rising demand in the premium and luxury categories of single malt whiskies as current Indian consumers have a wide knowledge of their choice of drinks. This is one of the driving factors that inspires us to craft limited editions of expressions,” shared Jagdale.

Amrut Bagheera tantalizes the palate with a delightful fusion of salted caramel and dark chocolate, complemented by an assortment of fruity undertones, evoking thoughts of dried fruits, all gracefully accented by a subtle oak essence. Meanwhile, Amrut Portonova bursts with an explosion of fruitiness, accompanied by indulgent toffee sweetness and exotic tropical spices, with subtle whispers of coconut and cracked black pepper adding to its allure.

Continue Exploring: Indian single malt whiskies outshine global brands in sales, achieving a landmark 53% market share in 2023

Uber Eats introduces live location sharing to facilitate seamless deliveries

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March 9, 2024

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Uber Eats is introducing a live location-sharing capability to assist couriers in finding customers, especially in challenging locations like campus courtyards, parks, and playgrounds.

As of today, the new feature is being launched across all markets except Quebec. Uber Eats operates in over 11,000 cities spanning six continents.

When users place a “meet outside” or “meet at door” order on Uber Eats, they’ll receive a notification informing them that their location is being shared with the courier. This sharing activates when the courier is three minutes away, and the customer is within 100 meters of the drop-off site. Uber Eats ceases sharing the location once the order is delivered. Users also have the option to manually disable the feature at any point.

Continue Exploring: Uber Eats partners with Cartken and Mitsubishi Electric to launch autonomous food delivery robots in Tokyo

The company aims to address a significant hurdle faced by many couriers, particularly during the warmer months when outdoor activities increase and people order food for occasions like birthdays. Domino’s implemented a comparable solution in June 2023 with the launch of Pinpoint Delivery, enabling customers to drop a pin on the map for pizza delivery to nearly any location.

“We’re thrilled to bring location sharing to Uber Eats and help consumers ensure greater reliability with every delivery they receive,” Divya Dalapathi, director of Product Management at Uber, said in a statement. “After launching the feature on Uber rides and seeing great success, we knew that building this feature on Uber Eats would be a game changer—especially for consumers who order from tricky-to-navigate locations like office buildings, parks, and large apartment complexes.”

Uber has implemented the live location-sharing feature in its rider app since 2017.

Bio&Me unveils gut-friendly flapjack bars for on-the-go nutrition

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March 9, 2024

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Gut health food brand Bio&Me has launched a new lineup of on-the-go gut-friendly flapjack bars.

Bio&Me’s lineup includes three flavors: Toffee Apple, Superberry, and Cocoa Hazelnut. These bars are offered in both single 38g bars and multipack formats. Developed to support gut health, they are packed with fiber, gluten-free, and free from added sugar or harmful additives.

The brand underscores the significance of diverse and nutritious food for both individuals and their gut biome. These bars are crafted from a blend of 100% plant-based ingredients, including wholegrain oats, almonds, pumpkin seeds, and calcium-rich seaweed.

Continue Exploring: Vegan and keto diets elicit innate and adaptive immune responses, altering gut microbiome: NIH Study

Jon Walsh, Bio&Me co-founder and CEO, said, “Now more than ever, consumers are looking at what’s actually in the food they’re eating and for us, as a science-backed brand, it was important for these bars to be the absolute best. As well as being requested by consumers, we actually had several retailers ask for Bio&Me bars too.”

Last year, the brand introduced new single-serve prebiotic yogurts boasting “billions” of live and active cultures, a quantity approximately four times greater than that found in any other yogurt available in the UK.

Bio&Me’s flapjack bars will be available to purchase in UK retailers from April.

Continue Exploring: VC firm Iris Ventures fuels £5.5 Million investment in gut-health beverage brand Biomel

Heineken takes a refreshing turn with Strongbow Zest Cider debut!

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March 9, 2024

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Heineken UK’s brand, Strongbow, has expanded its flavor portfolio with the introduction of Strongbow Zest.

Strongbow Zest combines apple cider with hints of lime, lemon, and orange. It joins Strongbow’s fruity lineup, which includes Dark Fruit, Cloudy Apple, and Tropical variants. The company asserts that the zesty blend of citrus fruits complements the traditional apple flavor and aims to attract more consumers to the cider category.

The fresh flavor boasts an ABV of 4% and is free from artificial flavors, sweeteners, or colors, making it suitable for vegan and gluten-free diets.

Continue Exploring: Heineken expands premium portfolio with investment in Ellie Goulding’s Served

Rachel Holms, the cider brand director at Heineken UK, expressed enthusiasm for introducing Strongbow Zest to the market just in time for the summer season. She highlighted the previous success of Strongbow Tropical’s launch last year, underscoring the ongoing demand for new flavors in the category.

Strongbow Zest is currently accessible in chosen retailers, offered in both multipacks and single formats, with a broader distribution scheduled for April.

Marks & Spencer reverts to single CEO as Co-Chief Executive steps down

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March 9, 2024

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British retailer Marks & Spencer announced that co-chief executive Katie Bickerstaffe will be stepping down from her position, leaving Stuart Machin as the sole executive in charge of the company.

In an unusual move, M&S transitioned to a dual CEO model in early 2022 as the retailer faced difficulties. Since then, it has made notable strides, with its share price soaring 50 percent in the past year fueled by strong sales.

Machin has always been referred to as CEO, while Bickerstaffe’s title was co-CEO.

“I’m very grateful to Katie for her support in seeing M&S through this important period in the reshaping of the business,” Machin said in a statement. “We now have a much stronger business.”

Continue Exploring: Marks & Spencer’s food retail arm continues strong sales streak, challenges leading grocers in UK

Bickerstaffe leaves in July “to pursue her board career”, the company said.

“I will leave with great memories and a strong sense of achievement,” she added in the statement.

After the announcement, M&S shares experienced a 0.5 percent increase, reaching 242 pence on London’s premier FTSE 100 index.

“Marks & Spencer has a history of revolving doors with its senior management team, but the difference now is that the business seems to have found its groove and the turnaround story is gaining traction,” noted AJ Bell investment director Russ Mould.

“It doesn’t appear to be a case of someone senior leaving because the strategy isn’t working. Machin is the architect behind the retailer’s recent success and the fact he remains in the top job will be of comfort to shareholders and the market.”

Continue Exploring: Fashion giant Marks & Spencer strengthens Indian presence with first store in Siliguri

Prada sales surge 17% in 2023, driven by Asian markets and Miu Miu brand

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March 9, 2024

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Italian luxury group Prada reported a 17% rise in its 2023 net revenues at constant exchange rates, driven by growth in Asia and the outstanding performance of its Miu Miu brand. It expects to outperform the market this year.

Last year, the group’s net revenues amounted to 4.7 billion euros ($5.1 billion), aligning closely with analysts’ forecasts. The “very positive” fourth quarter also exhibited a 17% increase in sales.

During a conference call with analysts, Prada’s Chief Executive Andrea Guerra remarked that the first two months of 2024 exhibited a trend similar to that observed in the fourth quarter.

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Throughout 2023, sales in the Asia Pacific region surged by 24%, while Europe experienced a 14% growth rate, albeit slowing down in the latter half of the year. Conversely, sales in the Americas remained stagnant.

Last year, Prada witnessed a 26% increase in its adjusted operating profit, reaching 1.06 billion euros.

“As with 2023, while quarterly growth trajectory may not be linear through the year, we retain our firm ambition of delivering solid, sustainable, above-market growth,” CEO Andrea Guerra said in the statement.

The conglomerate, which holds the eponymous brand along with Miu Miu, Church’s, and Car Shoe, suggested a dividend of 0.137 euros per share.

Continue Exploring: Fashion retailers slash discounts amidst subdued demand and low inventory

Sugar Foods acquires Concord Foods, expanding product portfolio and operations

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March 9, 2024

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Sugar Foods, renowned for its range of crunchy toppings, croutons, beverage ingredients, and pizza toppings, has completed the acquisition of Concord Foods from private equity firm Arbor Investments. The specific terms of the acquisition have not been disclosed.

Concord Foods produces a variety of products including beverage syrups and toppings, confectionery fillings, ice cream bases and variegates, caramels, stabilized fruit products, chocolate items, and dry blend mixes.

With this acquisition, Sugar Foods will integrate Concord’s 255,000-square-foot facility located in Brockton, Massachusetts, into its operations. Brands such as Concord Fresh Success, Simply Concord, Italia Garden, Oringer, and RedEMade from Concord Foods will now become part of Sugar Foods.

“Today marks a pivotal moment in Sugar Foods’ growth journey,” said Andrea Brule, president of Sugar Foods. “Concord and Sugar Foods share a long and successful history of customer-led innovation and service, and, with our complementary capabilities, I am confident that, together, we will maximize customer value and unlock new growth opportunities. This transaction combines the best of both organizations, and I look forward to welcoming the talented Brockton team to our Sugar Foods family.”

Continue Exploring: US-based Next Level Burger acquires Veggie Grill

In 2015, Arbor Investments acquired Concord Foods, a family-owned business, from its second-generation family owner and CEO, Peter Neville.

Following the acquisition, Arbor Investments stated that Neville continued his involvement with the company by assuming the role of chairman of Concord’s board of directors.

“We’re very proud of the growth and operational transformation that we catalyzed at Concord,” said George Russell, principal at Arbor Investments. “Our goal was to take the strong foundation built by the Neville family and strengthen it with a world-class team, leading R&D and production capabilities, and innovative ingredient offerings. The business is a natural extension for Sugar Foods and we’re excited to see Concord’s next chapter of growth under their ownership.”

Kraft Heinz and NotCo team up to introduce innovative plant-based hot dog alternative

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March 9, 2024

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Oscar Mayer, a brand under Kraft Heinz Co., has introduced its first plant-based offerings with the launch of NotHotDogs and NotSausages.

The product was developed in collaboration with TheNotCompany, Inc. through The Kraft Heinz Not Co. joint venture, addressing the market demand for alternative hot dog and dinner sausage options while tackling the taste and texture concerns often associated with plant-based foods. Oscar Mayer is unveiling both NotHotDogs and NotSausages, available in Bratwurst and Italian varieties, at the Natural Products Expo West convention this month. A nationwide retail release is scheduled for later in 2024.

Continue Exploring: Costa Coffee and BOSH! team up to introduce delectable plant-based delights across the UK

“Our goal is to create mouthwatering, plant-based foods that are delicious and accessible for everyone — from the devoted vegan to the plant-based curious,” said Lucho Lopez-May, chief executive officer of The Kraft Heinz Not Co. “We know people are hungry for plant-based meat options from brands they know and trust. In launching the joint venture’s first product in the plant-based meat category, we saw an opportunity to satisfy these consumer cravings, leveraging NotCo’s revolutionary AI technology and the power, equity and legacy of the Oscar Mayer brand.”

NotHotDogs and NotSausages are the latest additions to The Kraft Heinz Not Co.’s lineup, which already includes plant-based macaroni and cheese, mayonnaise, and cheese slices.

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