The Gujarat Co-operative Milk Marketing Federation (GCMMF), known for its Amul brand of dairy products and with a turnover of over INR 80,000 Cr in the fiscal year 2023-24, has inaugurated its first Amul Ice Lounge in Northern India at Phoenix Palassio Mall, Lucknow.
The Amul Ice Lounge at Lucknow was inaugurated by Shri Bhupendrabhai Patel, Hon. Chief Minister of Gujarat, Shankarbhai Chaudhary Hon. Speaker of the Gujarat Assembly and Jagdish Vishwakarma, Hon. Minister of Co-operation, Gujarat.
The Amul Ice Lounge offers a lavish setting for patrons to savor a selection of 24 top flavors from 24 countries worldwide, crafted with the finest Amul milk and premium ingredients. Among the array of international ice cream flavors are Dulce de leche from Argentina, Butter pecan from the USA, French Caramel, English Apple, Persian Peach, Belgian Chocolate, Swiss Chocolate, Jamaican Toto, Spanish Tango, Italian Fudge, Turkish Coffee, California Slow Churn, and numerous others.
Following the inauguration of the initial Amul Ice Lounge in Pune a year ago, Amul has successfully inaugurated one Ice Lounge every month, with Lucknow being the 12th such establishment in India.
At present, the Amul Ice Lounge can be found in Mumbai, Ahmedabad, the Statue of Unity, Surat, Jaipur, and Anand. This summer, Indian patrons will also have the opportunity to enjoy international ice cream flavors at Mumbai International Airport, Connaught Place in Delhi, and Nashik, bringing the total store count to 15. Furthermore, we have devised plans to launch 100 Amul Ice Lounge International Ice Cream parlors within the current year.
Amul Ice Lounge has been recognized by the prestigious Times Food & Night Life Award 2024 in the category of the Best Ice Cream Lounge – Premium Dining.
Although summer hasn’t officially arrived, the craving for a summertime favorite has already taken hold. Ice cream brands are experiencing a surge in sales this month, well before temperatures start to rise. February alone saw a remarkable 15% increase in sales across Gujarat.
Leading ice cream manufacturers in Gujarat anticipate that sales figures from March to June this year will surpass all previous records. This growth is fueled by both in-house and out-of-home consumption, as well as demand from the hotels, restaurants, and catering (HoReCa) segment.
Amul, India’s largest FMCG brand, is investing INR 1,000 crore to bolster its manufacturing capacity by establishing new plants and enhancing its current facilities. This investment serves as a clear indication of the anticipated demand for this summer.
“We have started new plants at six locations including Kutch, Surendranagar, Taloja, Pune, Ujjain and Varanasi, increasing our total ice cream plant locations to 25 from 19 last season,” stated Jayen Mehta, managing director of the Gujarat Co-operative Milk Marketing Federation (GCMMF), the marketing arm of Amul.
“We are growing at 25-30 % and are expecting that 2024-25 too would be a year of bumper growth as last summer season was disrupted due to unseasonal weather,” said Mehta.
A senior official from another leading ice cream brand said, “Feb sales were encouraging, and the Gujarat market has seen around 12-15% growth during the month compared to Feb 2023. We believe this summer, the market will expand by around 12-15%,” he said.
Industry analysts also note that rural demand has been steadily rising each year, primarily attributed to increased electrification and higher farmer incomes.
“There will be volume growth this year because there is no possibility of retail price increase. Milk prices have increased from last year, but milk powder prices have remained almost stable. Two years ago, the industry saw a significant price hike due to increased cost of packaging and other raw materials,” said Bhupat Bhuva, chairman of Gujarat Ice Cream Association.
In a significant advancement for Uttar Pradesh’s dairy sector, projects launched during the groundbreaking ceremony are set to attract investments totaling INR 9,000 crore. Despite the state’s accolade as the leading milk producer among states in 2022-23, it continues to grapple with low milk production capacity in cattle, underscoring the considerable scope for enhancing total production.
The projects will also open up employment opportunities within the state, said an official from the department of animal husbandry.
On February 23, Prime Minister Narendra Modi inaugurated the Banas Kashi Complex in Varanasi. This project is expected to create direct employment opportunities for approximately 3,000 individuals and indirectly benefit around 100,000 people, particularly farmers from 1,346 villages in Purvanchal. Additionally, at the close of the year, dairy producers will also receive a portion of the company’s dividends.
According to Dairy Commissioner Shashi Bhushan Lal Sushil, the Banaskantha District Cooperative Milk Producers’ Union Ltd intends to establish a dairy unit in Baghpat with an investment of INR 800 crore. The facility will initially handle 10 lakh liters of milk per day, with potential to increase to 15 lakh liters per day in the second phase, creating 4,000 job opportunities.
Furthermore, CP Milk and Food Products Private Ltd, presently running three manufacturing units in the state and offering employment to thousands of individuals, has opted to broaden its operations with an extra investment of INR 300 crore in Barabanki. This initiative is anticipated to create job opportunities for 90 individuals. CP Milk directly sources milk from 1.65 lakh dairy farmers.
Smart Grid Pvt Ltd is set to establish its unit in Gonda, with an investment totaling INR 1,100 crore. This venture is expected to create 3,000 job opportunities. Additionally, Rinku Dairy is initiating projects in Bareilly and Shahjahanpur, with investments of INR 490 crore and INR 300 crore respectively. Together, these projects will provide employment for over 1,300 individuals.
“Other major investments include a INR 300 crore project by Bareilly Dairies Ltd, INR 300 crore by Mitra Seva Insurance and Fintech Pvt Ltd, INR 252 crore by Gopal Ji Dairy, INR 250 crore by Creamy Foods in Bulandshahr, INR 250 crore by Pradhan Milk Chilling Plant in Meerut, and INR 212 crore by Dairy Craft in Bareilly,” said the commissioner.
MDH Spices, a leading spice manufacturer, has announced its intention to establish a new manufacturing facility in Ujjain, with an investment of INR 150 crore. Additionally, the company aims to invest INR 2,000 crore in expanding its operations across India in the forthcoming years.
The company has acquired a 16-acre plot in Ujjain.
The company has already allocated INR 5 crore towards its Indore plant investment.
Rajeev Gulati, CMD, MDH Spices, said, “We have taken 16 acre in Ujjain and intend to invest almost INR 150 crore in the coming 2 years. This will be our third largest unit after Faridabad and Nagaur in Rajastha. MP happens to be the center of India and this makes procurement and processing of spices easy. Here we will be producing more because logistically well placed and sending it across MP is easy.”
Gulati mentioned that the increasing demand for Indian spices is creating opportunities for export expansion. He further stated that he is considering the establishment of an export-oriented unit in the state.
“Within India also we are improving and innovating. We are bringing in new blends suitable for different markets,” said Gulati.
Leisure Hotels Group, which is home to 23 operational properties in its portfolio including the Taj Corbett Resort & Spa and Pilibhit House in Haridwar in partnership with IHCL alongside its own brands, is aiming to expand to 100 properties by 2030, as disclosed by Vibhas Prasad, the director of Leisure Hotels Group.
The company, which possesses and operates establishments and ventures like Aloha on the Ganges in Rishikesh, The Riverview Retreat in Corbett National Park, The Earl’s Court in Nainital, and The Manor properties in Bareilly and Kashipur, is contemplating expansion into various markets. These include Udaipur, Jodhpur, Chittorgarh, Kanha, Khajuraho, Vizag, Pondicherry, Kanyakumari, Thekkady, and Kodaikanal.
Prasad emphasized that the chain’s primary expansion focus lies on Madhya Pradesh and Rajasthan. Additionally, there are plans to convert current properties like Naini Retreat and The Hideaway Waterfront in Naukuchiatal into IHCL SeleQtions properties.
Over the next two years, the company plans to recruit 1000 individuals, supplementing its existing workforce of 1200. Expansion for the chain will be financed through a combination of debt and internal accruals. Prasad stated that the chain will employ a mixed strategy for expansion, noting that the current pipeline appears strong.
“Our plan by 2030 is to have 100 properties. We are working with IHCL in the luxury space and we have boutique concepts under our own brands. We have also created a concept called Bedzzz for young at heart customers who are willing to come and stay at a INR 5,000 a night kind of a property, but they want modern amenities and a social vibe,” said Prasad.
“Bedzzz has an interesting concept from a return-on-investment perspective. We could do a greenfield project, buy land, build a property, we could do a brownfield acquisition through a lease. Or we could have a franchised operation. In our portfolio, we also have holiday homes in locations such as Corbett, Rishikesh, wherein some investors or leisure seekers have apartments or villas which they lease back to us, and we operate that entire estate asset as a resort. They get some returns, maintenance is taken care of, and they have room nights. This is also a space that we are expanding,” he added.
This month, the company is set to introduce Bedzzz Xclusiv in Morjim, Goa, alongside upcoming launches of Bedzzz properties in destinations like Ayodhya, Nainital, and Shimla, expected by the end of the upcoming financial year. Additionally, Leisure Hotels Group possesses the 72-room Ginger hotel in Greater Noida, as well as a Mahindra Corbett property.
Prasad mentioned that since its establishment 30 years ago, the chain has maintained a focus on domestic travelers. Its portfolio has consistently catered to the leisure segment in Uttarakhand.
“We realised that Himachal Pradesh also has some synergies. We have also looked at boutique resorts and the accessibility from Delhi NCR, Western UP and Punjab to other weekend destinations,” he added.
He mentioned that the portfolio operates through various legal entities, sometimes partnering for assets as well.
“But, the assets give the management right back to our parent company so when we don’t have capital, we look at a new special purpose vehicle. That’s been the route to our growth so far,” he added. The chain has played a key role over the years in bringing destinations such as Rishikesh, Corbett, Nainital, and Haridwar to the forefront in the domestic traveller market, said Prasad. “We also operated the Char Dham Camps in Badrinath, Kedarnath, Gangotri, and Yamunotri for about twenty years- from 2001, till the Covid-19 pandemic struck. We will also come back in a new avatar in this market and will do this differently in future,” he added.
Flipkart on Sunday announced the launch of its UPI (Unified Payments Interface) handle, aiming to enhance digital payment offerings to all users, including the e-commerce major’s over 500 million customers, and boost India’s digital evolution.
Initially accessible to Android users, Flipkart UPI, supported by Axis Bank, enables customers to register with the @fkaxis handle. Through the Flipkart app, users can conduct fund transfers and complete checkout payments seamlessly.
Following the UPI launch, customers can anticipate a unique and enhanced experience, with access to loyalty features such as Supercoins, cashbacks, Milestone benefits, and brand vouchers.
“Flipkart UPI underscores our dedication to shaping a digitally-empowered society and reaffirms our role as a leading catalyst in India’s digital evolution,” said Dheeraj Aneja, Senior Vice President – Fintech and Payments Group at Flipkart.
The introduction of UPI will empower users to conveniently utilize this feature for both online and offline merchant transactions, both within and beyond the Flipkart marketplace. Additionally, it introduces one-click and quick functionalities for recharges and bill payments, significantly enhancing overall payment efficiency for users.
In 2023, UPI facilitated more than 117 billion transactions valued at INR 182.84 trillion. Flipkart highlighted this as evidence of a vibrant landscape, with active involvement from banks, payment service providers, and fintech companies.
“We continue to scale our growth in UPI with partnerships and innovations. Our partnership with Flipkart has come a long way from launching one of India’s most successful co-branded credit cards to now launching the Flipkart UPI service,” said Sanjeev Moghe, President & Head – Cards & Payments, Axis Bank.
Two major quick commerce platforms, Blinkit owned by Zomato and Mumbai-based newcomer Zepto, are rapidly expanding into the realm of e-commerce. They are set to introduce a wide range of categories including fashion, beauty, electronics, toys, home, and kitchen, among others.
Zepto, which became the first unicorn of 2023, has reportedly achieved $1 billion in annualized gross sales according to insiders. Over the next two months, these platforms plan to add thousands of new SKUs, bringing the total to over 10,000, as they anticipate increased consumer engagement driving commerce through their platforms. This expansion beyond grocery and staples is expected to significantly elevate the scale of quick commerce, impacting established e-commerce rivals like Flipkart and Amazon, as well as local kirana stores, as per sources familiar with the plans.
Additionally, these platforms are strengthening their logistics networks to accommodate a diverse array of products and ensure seamless connectivity with dark stores for efficient deliveries. This represents a substantial strategic expansion from two years ago when quick commerce was emerging in India, involving a significant increase in the number of SKUs to facilitate faster delivery timelines.
Blinkit and Zepto have entered the fashion arena by collaborating with apparel companies and sellers to list brands such as Adidas, Pepe Jeans, Jockey, Manyavar, XYXX, and Mad Over Print. Although their venture into apparel is still in its infancy, insiders suggest that these companies could potentially emerge as preferred destinations for shoppers in specific scenarios. Zepto, based in Mumbai, is promoting its apparel offerings to potential users, emphasizing the demand for clothing and garments required on short notice.
Zepto’s cofounder and CEO Aadit Palicha confirmed hitting $1 billion gross sale run-rate.
“We will be expanding our assortment into new categories like apparel, beauty, home and kitchen as consumer demand for these products is increasing on our platform,” Palicha said. “We are consistently seeing more frequent commerce taking place on the platform and the average user spend is increasing over a period of time. With new brands and categories, the ability to drive higher output per order within the same cost increases.”
He further mentioned that the company has been dedicated to this project since last year, recognizing that the potential total addressable market (TAM) for quick commerce is significantly larger than originally anticipated.
Albinder Dhindsa, the CEO of Blinkit, stated that the Gurugram-based company is currently in the experimental phase with the category and has not yet formulated a definitive strategy for this segment.
“We plan from the point of view of what the customer needs. On fashion, we’ve started some experiments but we don’t have a gameplan yet. Adidas started selling recently… they came onboard as a brand,” Dhindsa said. “It takes us about a year’s worth of work to have a thesis on what a category is. What you’re seeing in beauty today… work has been happening on that for the last 1-1.5 years… At any time we’re experimenting with five or six (categories).”
During the first nine months of FY24, Blinkit recorded a Gross Merchandise Value (GMV) surpassing $1 billion. Swiggy witnessed a 63% increase in Instamart gross sales in the first half of FY24, as reported in a filing by Prosus.
BigBasket’s BB Now is another competitor in this segment but entered the market later and is now striving to catch up with its larger rivals. Dunzo, backed by Reliance Retail, effectively exited this market due to its own financial constraints.
That being said, it won’t be a simple task for quick commerce players to compete with established horizontal e-commerce giants. Success will largely hinge on execution across crucial stages, from sourcing to delivery.
“It won’t be easy at all. There are sectoral issues, for example in fashion with returns. Other segments too will have challenges but a lot of work is being put in place to find a solution because there is a consumer demand,” one of the top industry executives said.
“Offering width is challenging for ecommerce itself. Large products (by size) and value will still be driven by ecommerce but it would be interesting to see if quick commerce players can challenge ecommerce in a meaningful manner,” another senior ecommerce industry executive said.
Regarding price points, a senior executive in the quick-commerce sector mentioned that the cost of selling on quick commerce platforms may also become more rationalized for brands at a larger scale. Similarly, addressing product returns would be necessary, as it is not typically included in the framework when selling grocery and other daily items.
“We’ve seen brands sell the same products cheaper on Amazon because the cost of doing business with quick-commerce may be higher. But as we scale up, we are seeing them bring quick-commerce to parity…or in a few cases, go more aggressive on quick-commerce. But that’s their journey,” this person said, adding the same occurred with FMCG companies like HUL, Nestle, Mondelez. “But now that there’s a lot of buying on these platforms… and quick-commerce has become an important channel, they’re putting a lot more focus.”
After a low-intensity bomb blast at a popular city eatery left 10 people injured, the Bruhath Bangalore Hotels Association announced on Saturday its commitment to devising a plan to enhance security systems at all hotels across the city. They also intend to discuss preventive measures to ensure the safety of public places.
On Friday afternoon, the Rameshwaram Cafe witnessed a bomb blast at its Brookefield branch following which security has been tightened across the State and its capital city. According to the Association, it will be convening a meeting with police officials, hotels owners and other stakeholders to discuss the Standard Operating Procedures (SOPs) to maintain vigil in hotels.
They would also discuss the dos and don’ts in hotels, review the SOPs and step up security measures to avert any such untoward incidents in the near future. It will also discuss having in place an enhanced security system in place and work towards having a zero tolerance approach against movement of any “suspicious individuals” and those “loitering” in the hotels henceforth.
President of Bruhath Bangalore Hotels Association, PC Rao said that once the police investigation is concluded, they would soon call up a meeting with the police department, cafe and hotel owners as well as other stakeholders to discuss and chalk out a detailed plan to enhance the security system at the eateries so as to avoid such unfortunate incident in future.
“We are working on ways to enhance the security system and ensure safety of people at public places but for now we are waiting for the formal report from the police department on how it (blast) happened. Once the investigation is over, we will take up the matter and chalk a detailed plan. Our discussions are on and we are definitely calling for a meeting next week with police officials and other members in the hospitality business,” he said.
Emphasizing that such incidents have occurred in public places like hotels, railway stations, bus stands, he said, such people can target any public place and so we as citizens of Karnataka and Bengaluru should be careful and do the needful as a responsible citizen to keep our city safe and secure. “We need to know and analyse what actually happened and how it happened..and take preventive measures accordingly. Instead of putting blame on police or the government, It’s our responsibility as well as our duty as a citizen to secure our places,” he said.
Kadamba, a renowned single-malt whisky hailing from Goa, has accomplished an outstanding feat by claiming the title of “Best Indian Single-Malt Whisky” at the Icons of Whisky awards, presented by Whisky Magazine in the UK. This remarkable achievement on the international stage is a significant milestone for Kadamba Whisky, solidifying its standing among esteemed global whisky brands such as Suntory, Red Breast, JP Wiser, and Johnny Walker.
Kadamba’s Signature Expression, the winning whisky, undergoes a double-distillation and is aged in a blend of bourbon, sherry, and virgin American oak casks. This unique aging process results in a complex and full-bodied flavor profile that sets Kadamba apart.
Renowned as one of the globe’s most esteemed whisky contests, The World Whiskies Awards conducts blind tastings of around 6,000 whiskies hailing from the top 60 distilleries across the globe. Kadamba’s triumph highlights its outstanding quality and meticulous craftsmanship.
Crafted in limited batches to preserve its exclusivity and outstanding quality, Kadamba’s vintage single malt whisky commands a price of INR 2,200 per 750ml bottle. Encased in a stunning 3D cut-glass effect decanter, it has become a sought-after collector’s piece. Its distribution is restricted to exclusive wine outlets and upscale bars in Goa.
The Cheers Group is a globally recognized conglomerate in the beverage alcohol industry, renowned for its inventive range spanning Wine, Spirits, and Ready-to-Drink (RTD) beverages. Among its standout offerings are Indian Single Malts and Scotch whiskies, serving as the group’s flagship products.
Imperial Distillers and Vintners Pvt. Ltd., a division of the Cheers Group situated in Goa, features a cutting-edge production facility dedicated to crafting exquisite malt spirits. This distillery houses a modern plant equipped with top-of-the-line copper stills employing the latest design and technology. With a capacity to produce up to one million liters of premium Indian malt spirit annually, it stands as a testament to excellence in distillation.
The acknowledgment of Kadamba single-malt whisky at the Icons of Whisky awards underscores its outstanding quality and craftsmanship. This accolade cements its status as a top-tier whisky, showcasing India’s rising prominence in the global whisky scene.
Britannia Industries, India’s renowned biscuit maker, is currently exploring potential joint ventures to enter high-margin categories such as chocolates, fresh dairy, and salty snacks, as revealed by Varun Berry, the company’s vice-chairman and managing director.
The maker of Marie Gold and Good Day biscuit brands has enlisted the global consulting firm Bain & Co to prepare an aggressive ‘go-to-market’ project by leveraging data-driven strategies, as informed by Berry.
The Nusli Wadia-owned company is looking to map its target market segments closely for mounting an effective challenge to existing players in the new categories. It will also hire talent to build the sales team, Berry said.
“While our current focus is to pause and consolidate, we remain vigilant for opportunities to fuel portfolio growth,” said Berry, credited with Britannia’s transformation from a biscuit-centric entity to one with a broader product range. He assumed the role of vice-chairman in 2022, after Rajneet Kohli of Domino’s Restaurants was appointed as CEO.
“Chocolates is a big market but difficult to penetrate and therefore, it will only be through a JV if and when it is possible,” he said. “We are present in multiple categories and want to get them larger before going to others. The go-to-market strategy with the help of Bain will help identify blank spaces more precisely to ensure improved distribution of its products across markets,” he added.
Meanwhile, dismissing market rumours of a stake sale in Britannia to large players or private equity firms, Berry said, “There is no truth to this and absolutely no chance of that happening.”
While aspiring to evolve into a comprehensive food company, Britannia’s current focus lies in expanding its existing categories, including biscuits, cakes, rusks, croissants, energy bars, protein bars, cheese, milkshakes, and yogurt.
“Pause and consolidate is all about ensuring better focus. We are currently going to do that better with scale; about scaling up, for example, cheese is now a INR 100 crore business,” he said.
Britannia’s leading biscuit brands encompass Marie Gold, Tiger, NutriChoice, 50-50, Treat, Pure Magic, Milk Bikis, Bourbon, Nice Time, and Little Hearts.
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