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Culinary Art India’s 16th Edition to showcase excellence at AAHAR 2024

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Chef
(Representative Image)

The Indian Culinary Forum (ICF) has unveiled the 16th iteration of Culinary Art India (CAI), slated to coincide with the 38th edition of the AAHAR International Fair from March 7 to 11, 2024. This collaborative event, presented by ICF and orchestrated by “ITPO” and Hospitality First, under the technical stewardship of ICF, pledges to be a showcase of culinary ingenuity and mastery.

With the incorporation of new competition categories totaling 18, Culinary Art India 2024 is poised to draw in more than 500 participants at the national level. These competitors will include senior chefs and apprentices from all corners of India, engaging in a competition set on an internationally recognized platform. The primary aim of CAI remains steadfast: to furnish a professional arena where culinary experts can exhibit their individual and collective talents, ingenuity, and proficiency. Moreover, CAI seeks to promote learning, facilitate the exchange of experiences, foster partnerships, and encourage networking within a competitive framework.

Davinder Kumar, president of ICF, expressed his excitement, stating, “We are proud to present the expanded lineup of competition categories for Culinary Art India 2024. This event is not just a competition but a celebration of culinary artistry and skill. In today’s world where new technologies have accelerated the way we live, communicate & eat, Culinary Art India provides a platform to demonstrate culinary skills and adapt to evolving trends in the hospitality industry.”

Continue Exploring: From Gochujang to Parmesan: Kerry unveils 2024 Taste Charts mapping culinary trends

Vivek Saggar, general secretary, ICF said, “Indian Culinary Forum’s mission is to encourage and inspire junior chefs through training and competition, to raise the culinary standards in India, and to serve as a platform to leverage the development of Indian culture and cuisine on a global scale. ICF’s dedication to fostering excellence in the culinary profession is evident in events like Culinary Art India, where chefs can learn, compete, and inspire each other. We look forward to witnessing the creativity and talent of all participants as they compete on this prestigious stage.”

With a grand total of 18 categories, this competition will showcase an array of culinary talents and specialties. Participants will demonstrate their skills in crafting 3-Tier Wedding Cakes, Artistic Pastry Showpieces, Artistic Bakery Showpieces, Fruit & Vegetable Carving, Plated Appetizers, Petit Fours or Pralines, Three-Course Set Dinner Menus, Desserts, Authentic Indian Regional Cuisine, Contemporary Sushi Platters, Live Cooking Competitions (2 Courses in 45 Minutes), One-Dish Rice Creations, Enthusiastic Hobby Cooks, Egg Benedicts, Chocolate Mania, Cake Decorating with “Dress the Cake,” Mocktail Crafting, and Live Sandwich Making.

The culinary competition will be assessed by WACS-certified jurors hailing from both India and overseas. Serving as this year’s jury chairperson is Chef Gautam Sethi, Cluster Chef at Accor Group of Hotels in Phuket, Thailand. Assisting him as the organizing secretary is the renowned Chef Arvind Rai.

Continue Exploring: How Millennials, with a Global Palate, Are Reshaping the Culinary Landscape

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Zepto Pass hits 1 Million subscribers within a week of launch

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Zepto
Zepto

Zepto, the quick-commerce unicorn, stated that its membership programme Zepto Pass has attracted one million sign-ups within one week of its launch.

Taking to social media platform X, chief executive officer Aadit Palicha said, “The energy at Zepto feels just like the early days, and I’ve never been more excited about our company’s momentum and strength of execution.”

The membership, priced at INR 99 per month, provides unlimited free deliveries for orders worth INR 99 or more, along with discounts of up to 20% based on the order value.

According to sources familiar with the matter, certain users are eligible for discounts on orders exceeding INR 299, while for others, the threshold stands at INR 699. Additionally, it’s noted that the company is extending this service to select users at an introductory rate of INR 19.

With the launch of ‘Pass’, Zepto has become the second quick commerce firm to offer subscription benefits, following Swiggy Instamart. In contrast, Zomato does not extend benefits from its Gold subscription to its quick commerce service Blinkit.

Continue Exploring: Zepto launches Zepto Pass membership program for all users, offering exclusive benefits

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Tiger Pacific Capital acquires 4% stake in B9 Beverages, sets stage for potential IPO

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Bira 91
Bira 91

Tiger Pacific Capital, a private equity fund, has purchased nearly 4% of B9 Beverages, the manufacturer of Bira 91 beer and the proprietor of The Beer Cafe pub chain, for $25 million (around INR 207 crore). According to company executives familiar with the matter, this acquisition serves as a preliminary step toward the company’s intended stock market listing.

“The combination of strategic partners and blue chip financial sponsors spread across Japan, New York and India make our cap table unique,” said Ankur Jain, chief executive of B9 Beverages.

“It enables the company to leverage strengths, capital pools and business opportunities in all relevant geographies.” He declined to comment on IPO plans. “This is the first investor on B9 Beverages’ cap table from a crossover fund,” said an executive aware of the development. “The investment is focused on strengthening B9’s capital base and tapping into new investor bases focused on pre-IPO companies and listed securities.” This aligns with reports from December last year regarding B9 Beverages’ intention to secure $50 million in funding.

Continue Exploring: B9 Beverages gears up for INR 400 Crore funding round to drive business expansion

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Antfin Singapore mulls selling 2% stake in Zomato for INR 2,800 Cr amid surging share prices

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Zomato
Zomato

Amidst a notable surge in Zomato‘s share prices, China’s Ant Group‘s arm, Antfin Singapore Holdings, is reportedly considering selling off up to a 2% stake in the foodtech giant.

According to a CNBC-Awaaz report, the investor aims to sell 17.64 crore shares in a block deal at a price of INR 159.4 per share. This would value the entire transaction at INR 2,800 crore.

As per Zomato’s shareholding pattern at the end of December quarter of 2023, Antfin Singapore held a 6.42% stake in the Deepinder Goyal-led company.

The latest development comes after Zomato shares surged to an all-time high of INR 175.5 during intraday trading on Monday (March 4). While the stock has been on an uptrend since April 2023, it received a major boost after the foodtech major reported its third consecutive profitable quarter in Q3 FY24.

Continue Exploring: Zomato’s shares reach record high of INR 175.5 amidst bullish market sentiment

In the December quarter of 2023, the startup witnessed a remarkable 283% quarter-on-quarter surge in consolidated profit after tax (PAT), reaching INR 138 crore. Furthermore, operating revenue rose from INR 2,848 crore in Q2 FY24 to INR 3,288 crore.

After the release of the results, brokerage firms such as Jefferies, Nuvama, and Kotak increased their price targets (PT) for Zomato stock.

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

With its strengthening financials, Zomato’s shares have surged over threefold in the past year and are currently trading nearly 35% higher year to date. Consequently, several major investors have been divesting their holdings in the company in recent months to capitalize on profits.

In December, SoftBank sold 9.35 crore shares of the foodtech giant Zomato in a block deal valued at INR 1,127 crore. Following this, in January, Societe Generale divested over 86.5 lakh shares of Zomato in a block deal. Additionally, Motilal Oswal Mutual Fund disposed of 4.5 crore shares of Zomato through an open market transaction in the same month.

Zomato’s shares concluded yesterday’s trading session at INR 166.05 on the BSE, marking a decrease of 2.18%.

Continue Exploring: Zomato’s strong Q3 performance spurs brokerage firms to boost price targets; Blinkit expansion drives optimism

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The Face Shop enlists Bollywood star Khushi Kapoor as brand ambassador for Indian market, targeting Gen Z audience

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Khushi Kapoor
Bollywood actress Khushi Kapoor

The Face Shop, a Seoul-based skincare and cosmetics company, has announced Bollywood actress Khushi Kapoor as the first-ever face of the brand in India, as stated in a release by the company on Tuesday.

The company eyes Kapoor’s Gen Z appeal and popularity among young audiences, the release added.

“I am honoured and thrilled to be chosen as the face of The Face Shop. As an actor, skincare is an essential part of my daily routine, with long hours on set, coupled with shoots and meetings, I always seek out extra hydration and nourishment to my skin,” said Khushi Kapoor.

Continue Exploring: Orion India appoints Palak Tiwari as brand ambassador for Turtle Chips

“We are thrilled to welcome Khushi Kapoor to The Face Shop family,” said a spokesperson at The Face Shop.

With roots dating back nearly two decades, The Face Shop boasts a network of over 3000 stores spanning 35 countries. In India, the brand has established itself across offline and online channels, operating its own direct-to-consumer (D2C) websites and e-commerce platforms. Additionally, it distributes its products in over 60 Nykaa stores, as indicated on its official website.

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

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Fenty Beauty

Cosmetics brand Fenty Beauty by Barbadian singer and businesswoman Rihanna will enter the Indian market with fashion and beauty retailer Nykaa, the Mumbai-based company said in a press release on Tuesday.

The beauty brand will be making its debut on the Nykaa Cross-Border store on 7 March 2024. Nykaa will offer a line-up of Fenty Beauty’s products including the foundation, highlighter, lip gloss and more.

“We are thrilled to begin our partnership with one of the most innovative and disruptive beauty brands in the world, Fenty Beauty. The brand’s ethos of diversity and inclusivity is a perfect fit for Nykaa’s mission of democratizing beauty for all Indians,” said Anchit Nayar, executive director of Nykaa Beauty.

Founded in 2017 under the leadership of chief executive officer Rihanna, the global makeup brand is a partnership between the renowned singer and the French multinational conglomerate LVMH.

Continue Exploring: Shift in Indian beauty market: Fairness creams witness first decline as demand swells for radiance and hydration products

“Fenty Beauty was created so that people everywhere would be included. Expanding to India is so exciting because the more people that can feel beautiful, recognized and empowered, no matter their ethnicity, culture, skin tone or style the better,” said Rihanna.

The products can be ordered from the Nykaa app via the Cross Border Store with a shipping fee of INR 500. Orders will be delivered directly to consumers within 5-7 days, post successful photo ID and address proof verification.

Founded in 2012 by Indian entrepreneur Falguni Nayar, as a digital-first omni-channel beauty platform, Nykaa currently has over 165 retail stores in formats like Nykaa Luxe, Nykaa On Trend and Nykaa Kiosks.

Since its launch, Nykaa has expanded its product categories by introducing online platforms Nykaa Fashion, Nykaa Man and Superstore and it offers a selection of products from over 6,200 brands through its digital platforms and stores.

Continue Exploring: Bollywood star Sonakshi Sinha’s Soezi nail brand launches first offline store in Pune

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BigBasket aims to turn profitable in 8 months; eyeing IPO in 2025

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BigBasket
BigBasket

BigBasket, the Tata group-owned online grocer, is eyeing to come out with an initial public offering in 2025 after turning profitable, a top official said on Tuesday.

The Bengaluru-based company, a part of Tata Digital, will turn profitable in another 6-8 months, once the newly launched ‘BB Now’ vertical starts making money, its co-founder and chief executive Hari Menon said.

When asked about plans for an IPO, he said, “We will probably have it in 2025. But we are leaving it to the Tatas, there cannot be anybody better to guide us and advise us on that.”

He hinted that the issue will include both primary and secondary share sales, but did not share any more details.

Continue Exploring: BigBasket teams up with Chef Sanjeev Kapoor to introduce frozen foods brand ‘Precia’, targets INR 100 Crore in online sales by 2026

He stated that the business necessitates capital for continuous investments, which will be sourced from the Tata Group leading up to the IPO. He further added that the majority of these investments will be directed towards technology, marketing, and personnel.

The company, which competes with similar offerings from Amazon and Flipkart, is targeting to close FY24 with a revenue growth of 30-35% over the previous fiscal, with a topline of about INR 12,000 crore, Menon said.

On profitability, he said the enterprise will turn profitable once the newly launched BB Now under which it delivers products in 10 minutes turns profitable, which is in the next 6-8 months, Menon said, adding that the older business lines including slotted and BB Daily are in the black.

He said it is easier for the new business to turn profitable because the back end is common across the three business lines.

At present, over 70% of its revenues come from the slotted business, while the relatively newer BB Daily, under which it delivers items like milk early in the morning, and BB Now, account for the remaining 30%, Menon said.

The company does not have any plans of entering the broader e-commerce space, unlike its competition, Menon said, adding that it will concentrate on the kitchen-related space and continue being a grocer.

It is currently piloting a concept of having an offline presence to try out the omnichannel format, Menon said.

Over 36% of its current sales come from private labels, Menon said, adding that it is aiming to take the higher margin business’ contribution to 40-45% in the next two years.

It, however, does not have any plans of having a strategy of selling its private labels from offline outlets.

When asked about the traffic coming from the Tatas’ super app, Menon declined to comment. He also declined to comment on working under Tata Digital’s new chief executive and managing director Naveen Tahilyani, saying these are still early days of working with him.

When asked about some reports before the takeover of the company by Tatas, which stated that he would be leaving the company after some time, Menon said there were no such plans.

Earlier, BigBasket launched a line of frozen foods in a tie-up with celebrity chef Sanjeev Kapoor to tap an estimated $1.5 billion opportunity.

Menon said it is targeting sales of up to INR 150 crore from the line christened “Precia” by 2026, and will be focusing on marketing the products, which also include items like momos and desserts.

Continue Exploring: BigBasket rebrands slotted delivery to ‘bigbasket supersaver’, targets 1-hour service for faster deliveries

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Swiggy & IRCTC join forces to offer food delivery service on trains

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Swiggy
Sanjay Kumar Jain, chairman and managing director, IRCTC and Rohit Kapoor, CEO, Swiggy Food Marketplace.

Swiggy, the food delivery platform, has announced a partnership with the Indian Railway Catering and Tourism Corp (IRCTC) to deliver pre-ordered meals to travelers at four major railway stations in India. This move follows the footsteps of rival Zomato, which already offers a similar service.

Under the Memorandum of Understanding (MoU), Swiggy is set to commence delivering food from its vast network of restaurants to passengers on specific trains. Initially, this service will be available at Bangalore, Bhubaneswar, Visakhapatnam, and Vijayawada stations. Plans are underway to extend this service to an additional 59 stations nationwide in the upcoming weeks.

“One of the challenges encountered by travellers during extended journeys is the paucity of diverse culinary options. Through this integration, passengers aboard designated trains now have the option to savour good-quality, warm meals delivered right to their seats, thereby transforming their travel into a convenient and delightful culinary experience,” Swiggy said in a statement announcing the partnership.

Continue Exploring: Zomato partners with IRCTC to launch meal reservation for railway travelers

Annually, the Indian Railways facilitates transportation for more than 8 billion passengers. In October of last year, it unveiled a parallel collaboration with competitor Zomato, initially focusing on railway stations in New Delhi, Prayagraj, Kanpur, Lucknow, and Varanasi.

The pre-ordered meals will be delivered via IRCTC’s e-catering portal.

“At IRCTC our focus has always been to explore new ways to make train journeys comfortable and convenient for the billions of passengers aboard the Indian railways every year. This partnership with Swiggy will bring more convenience and food options to our passengers, making their journeys more memorable,” said Sanjay Kumar Jain, chairman and managing director, IRCTC.

Rohit Kapoor, CEO of Swiggy’s Food Marketplace, described the venture as an exploratory move, highlighting the company’s dedication to enhancing consumer experience through a diverse array of food options.

Regarding a potential collaboration with Swiggy Instamart, the company’s quick commerce service, Kapoor mentioned that while they haven’t actively considered it, he finds the concept intriguing.

Travelers interested in utilizing Swiggy’s food delivery service can simply input their PNR on the IRCTC app and choose their desired station for meal delivery.

Swiggy connects consumers with more than 280,000 restaurant partners across numerous cities. Additionally, its quick commerce grocery service, Instamart, operates in over 25 cities.

Kapoor expressed optimism about receiving a positive response from both passengers and restaurant operators along these routes. This enthusiasm may lead Swiggy to expand the service to additional stations and routes in the future.

IRCTC offers catering, hospitality, packaged drinking water, online ticketing, and travel and tourism services throughout India.

Through its e-catering services division, IRCTC recorded 1.48 billion meals booked in the fiscal year ending on March 31, 2023. As per its annual report for the year, the service was accessible at around 338 stations, with an average of 40,669 meals booked per day.

Additionally, IRCTC provides static catering services, encompassing offline food amenities such as refreshment rooms, food plazas, fast-food units, and more, located on railway platforms.

In the fiscal year 2023, IRCTC recorded revenues of INR 3,541.47 crore, with a net profit of INR 1,005.88 crore.

Continue Exploring: IRCTC expands its footprint, ventures into non-railway catering business

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Swizzle secures seed funding to fuel expansion and disrupt Indian beverage industry

Swizzle
Deepender Singh & Vrinda Singhal, Co-Founders of Swizzle

Swizzle, the trailblazing Made-in-India mocktail provider, has secured an undisclosed sum in seed funding from a consortium of angel investors, spearheaded by current investor Mrs. Monika Rao. Dr. Akshay Singhal, Founder & CEO of Log9 Materials, along with new investors Mr. Deepak Gambhir and Sri Harsha Thota, participated in this equity-based seed investment round.

The startup, having previously raised funds in 2022, utilized the proceeds for product development and achieving product-market fit. With this recent round, Swizzle has now amassed a cumulative funding of over INR 1 Cr. Co-Founders Vrinda Singhal and Deepender Singh expressed their excitement about this funding round, highlighting its importance in propelling Swizzle’s mission to revolutionize the Indian beverage industry.

“We are super excited to announce our latest seed fundraise, which marks a pivotal milestone in Swizzle’s journey, and catalyses our mission of revolutionizing the beverage industry in India,” said Vrinda Singhal and Deepender Singh, Co-Founders of Swizzle.

The funding will play a crucial role in expanding Swizzle’s presence in both B2C and B2B segments. The goal is to be accessible in over 1000 locations by August 2024, reaching new cities and bolstering the distribution network. The co-founders outlined their plan to implement effective marketing and go-to-market strategies for accelerated growth, aiming to become the preferred choice for beverage enthusiasts across India.

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

Lead Investor Ms. Monika Rao commented, “Swizzle has demonstrated a unique ability to innovate and bring to market a range of high-quality mixers. Their revamped hip and cool branding and packaging will help them scale and acquire the upwardly mobile young customer base across Tier 1 cities.”

Renowned for its natural beverages crafted from authentic fruits and herbs, Swizzle experienced an impressive 210% growth in FY 2023. The startup is set to attain its forecasted revenue of INR 15 Crore by the end of FY 2025. Swizzle’s assortment of ready-to-drink (RTD) mocktails, featuring diverse flavors and boasting 100% vegan ingredients, are retailed through its website and prominent e-commerce platforms such as Amazon, JioMart, Flipkart, and Swiggy-Mini.

Continue Exploring: Inflection Point Ventures to spearhead O’ Be Cocktails Pre-Series A fundraiser

In the retail realm, Swizzle has earned recognition across more than 350 locations in Bengaluru, encompassing vending machines, Nature Basket stores, MRP outlets, and supermarkets. The startup is committed to accelerating its offline retail expansion, targeting over 3000 locations by the close of the current fiscal year, with the objective of serving up to 5 lakh mocktails per month. Swizzle also has plans to venture into Hyderabad, Mumbai, Pune, and Chennai, tapping into the HoReCa and QSR segments.

Continue Exploring: India’s rising cocktail culture: Niche bars thrive beyond metros, offering unique concepts and flavors

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FSSAI verifies authentic cheese in McDonald’s India; Westlife Foodworld addresses concerns amid FDA scrutiny

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McDonald's
McDonald's (Representative Image)

The Food Safety and Standards Authority of India (FSSAI) has officially verified that McDonald’s India exclusively employs authentic cheese, as stated by Westlife Foodworld in a stock exchange notification on Tuesday.

“The verification confirms the brand’s assertion that it uses 100% Real Cheese and that it does not use any cheese analogues or substitutes in any of its products,” the company said.

Additionally, Westlife reported that the west and south zones of McDonald’s India have received test results from an NABL-accredited laboratory, affirming the utilization of 100% authentic cheese throughout their product range.

Westlife Foodworld stands as the largest franchisee of McDonald’s in India, managing a network of McDonald’s outlets primarily in the western and southern regions of the country. With operations spanning across Telangana, Gujarat, Karnataka, Maharashtra, Tamil Nadu, Kerala, Chhattisgarh, Andhra Pradesh, Goa, Madhya Pradesh, and Puducherry, it oversees nearly 380 units spread across 62 cities.

Westlife Foodworld drew attention recently when reports surfaced that one of its outlets in Maharashtra allegedly substituted real cheese with alternatives in burgers and nuggets. Subsequently, the state government announced an inspection.

“We are planning to check all outlets of McDonald’s,” Abhimanyu Kale, the FDA chief told Reuters. “We will also take action on other well-known and frequently visited global fast-food chain outlets,” he added, but declined to identify the brands being targeted.

Continue Exploring: Maharashtra launches statewide fast-food chain inspections after McDonald’s cheese controversy

Saurabh Kalra, the Managing Director of Westlife, the company responsible for overseeing McDonald’s operations in the west and south of India, has responded to concerns raised by the Food and Drug Administration (FDA). Kalra confirmed the company’s willingness to cooperate with any inspections, emphasizing McDonald’s commitment to upholding the “highest standards.”

Following FDA action, the license of a McDonald’s outlet in Ahmednagar was temporarily suspended, resulting in the removal of the term “cheese” from several menu items. However, the suspension of the license was subsequently lifted.

Continue Exploring: McDonald’s removes ‘cheese’ from outlet menus in Maharashtra following FDA suspension

The regulatory authority alleged that McDonald’s had utilized cheese substitutes without adequate disclosure, raising concerns about potential consumer deception regarding the authenticity of the cheese. The state FDA has called upon the fast-food chain to implement corrective actions, not only at the local level but also on a wider scale, possibly extending nationwide.

Continue Exploring: McDonald’s faces regulatory heat: Maharashtra FDA revokes license amid cheese substitution allegations

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