Baskin Robbins, the American multinational ice cream and cake chain, aims to open 1000 stores this year in India and the South Asian region.
The American ice cream brand, managed by Graviss Foods Pvt Ltd, headquartered in Mumbai, India, is targeting tier 2 and 3 cities as it expands its presence in the country.
“With a commitment to providing high-quality ice creams & desserts in vibrant and convenient locations across the nation, we are happy to aim to reach a major milestone of 1,000 stores spread over 270+ cities in the country making BR the largest Ice cream Parlor chain in India,” said Vikram Seth, managing director, Graviss Foods Pvt Ltd. “We believe in the power of ice cream to contribute to the nation’s Happiness, economic growth, and job creation.”
Baskin Robbins made its debut in India in 1993 through a joint venture with the Graviss Group. The first manufacturing plant outside of North America opened near Pune. With an investment of INR 100 crore in a new factory in India in 2022 to meet escalating demand, the brand has extended its reach beyond parlors to encompass over 4,000 retail outlets across major cities. As it approaches its 30-year milestone in India in 2024, Baskin Robbins is gearing up to celebrate its enduring journey.
Presently, the ice cream chain boasts over 900 stores across 250+ cities.
The new store openings in India include Latur, Satara, and Nagpur in Maharashtra; Kolar and Whitefield in Karnataka; Jaipur in Rajasthan; Chandni Chowk in Delhi; Vanasthalipuram in Andhra Pradesh; Patiala in Punjab, and Puducherry. Notably, this marks Malabar Gold & Diamonds’ first entry into Rajasthan and Puducherry.
The company also announced its plan to ramp up its workforce to one lakh within the next three years, as mentioned in a press release.
MP Ahammed, Chairman of Malabar Group said, we have achieved great progress at the global level by embracing the concept of ‘Make in India, Market to the World’
“This accomplishment brings immense joy, not only to us but also to jewellery enthusiasts in the 14 countries where the brand is present. As we prepare to open ten new stores, we express our sincere gratitude to all our valued customers, team members, and investors who have played a key role in making this possible. With each new store opening, we are moving closer to our goal of becoming the world’s number one jewellery and luxury brand,” he said.
The company is extending its global footprint by inaugurating new stores in New Zealand, Egypt, Turkey, and South Africa, alongside its existing operations in other countries.
D2C jewellery brand Kushal’s has secured INR 284 Cr (around $34 Mn) in a Series B funding round from growth stage venture capital firm Lighthouse’s fourth alternative investment fund (AIF).
Additionally, this funding round involves a secondary buyout, providing partial exit for its first institutional investor, India SME Investments, which injected INR 15 Cr ($1.8 Mn+) in 2019. Moreover, the brand also includes Motilal Oswal among its backers, who participated in its Series A funding round of INR 90 Cr in 2022, as confirmed by cofounder Manish Guleccha.
Established in 2006 by Manish Guleccha, Nandish Guleccha, and Kalpesh Guleccha, the direct-to-consumer (D2C) brand specializes in crafting fashion jewellery suitable for various occasions.
Manish Gulechha said, “The funding will facilitate investments in brand building, technology, hiring and retail expansion.”
Kushal’s maintains an omnichannel presence. In brick-and-mortar retail, it distributes its products through 75+ stores spanning over 25 cities such as Bengaluru, Hyderabad, Chennai, Pune, Indore, and Chandigarh, among others. Additionally, its products are accessible across various ecommerce platforms, including its own website, Myntra, Amazon, Ajio, and more.
According to Guleccha, the brand intends to launch approximately 300-400 stores throughout India within the next four to five years. Additionally, it has plans to become publicly listed in five to six years.
This investment represents Lighthouse’s first from its newly raised private equity fund. Among its portfolio companies are Bikaji Foods, Nykaa, Wow! Momo, Fabindia, and Kama Ayurveda.
The brand competes with Giva, Melorra, Pipa Bella, Meta Man, Swasha, and others.
Among its competitors, Giva secured INR 270 Cr in funding led by Premji Invest in July last year. The company also recorded a significant 97% increase in operating revenue, rising from INR 84 Cr in the previous fiscal year to INR 165 Cr in FY23.
Analysis indicates that India presently hosts over 15 funded jewellery startups, collectively securing over $288.6 Mn in funding since 2014.
Reliance‘s FMCG division has partnered with a prominent Sri Lankan beverage company to bring the Elephant House brand to India. This strategic move is in line with the conglomerate’s aim to strengthen its beverage portfolio in a market largely controlled by Coca-Cola and Pepsi.
In a statement, Reliance Consumer Products Limited (RCPL), the FMCG arm of Reliance Retail Ventures Limited, announced its collaboration with Sri Lanka’s Elephant House to produce, promote, distribute, and sell beverages under the Elephant House label in India.
“This association will not only help RCPL bolster its growing beverage portfolio that boasts iconic brands such as Campa, Sosyo and Raskik but will also bring exceptional new products and value propositions to Indian consumers,” Reliance said.
Ceylon Cold Stores PLC, the parent company of Elephant House, stands as Sri Lanka’s foremost listed conglomerate. Renowned for its diverse array of beverages such as Necto, Cream Soda, EGB (Ginger Beer), Orange Barley, and Lemonade, Elephant House has firmly established itself as a leading brand within the Sri Lankan market.
Since the past year, Reliance has been expanding its FMCG operations, simultaneously emphasizing the development of its own private labels and the acquisition of both popular and regional brands.
Last year, Reliance Consumer Products unveiled the revival of the iconic beverage brand, Campa, marking yet another milestone in the Mukesh Ambani-owned company’s efforts to bolster its wide-ranging FMCG portfolio. This assortment includes heritage brands like Sosyo Hajoori, confectionary products from Lotus Chocolates, Sri Lanka’s prominent biscuit brand Maliban, alongside its own branded daily essentials such as Independence and Good Life, among others.
“This (Reliance-Elephant House) partnership will not only add its much-loved beverages to our growing FMCG portfolio but will also offer our Indian consumers great choice and value proposition through quality products,” said Ketan Mody, COO, Reliance Consumer Products Limited.
Krishan Balendra, Chairperson of the John Keells Group, said, “We are proud to announce the expansion of the Elephant House brand to the Indian market. Our partnership with Reliance Consumer Products Limited marks a significant milestone in the journey of our heritage brand and represents our commitment to delivering our high-quality beverages to new consumer segments. We look forward to the opportunity this partnership brings, to provide refreshing and innovative beverage options to meet the diverse preferences of Indian consumers.”
In the early 2000s, it was commonly believed that Indian spirits couldn’t compete with their global counterparts. India was primarily recognized as a mass producer of dark spirits, and local brands were often seen as inferior. However, this perception shifted as India began crafting spirits that not only rivaled but surpassed international standards. With India’s ascent as the fifth-largest economy globally, its spirits industry has kept pace, delivering premium offerings that command recognition on par with global standards. Today, domestically produced spirits are highly coveted among Indian consumers, reflecting their quality and appeal.
One such new-age Indian spirit brand that has rapidly risen in prominence is Short Story. In 2022, Third Eye Distillery, the parent company responsible for the globally acclaimed Stranger & Sons Gin, made the strategic move to expand its portfolio of spirits. This decision culminated in the introduction of Short Story, featuring a trio of white spirits: Grain Vodka, White Rum, and Dry Gin.
Established with the overarching goal of showcasing high-quality Indian spirits on the global stage and enhancing the cocktail culture within the nation, Third Eye Distillery identified a gap in the market for dependable, premium homegrown spirits. With Short Story, they sought to bridge this gap and establish a standard for accessible, top-tier spirits from India.
Within just over a year since its launch, Short Story has managed to create waves not only across India but also on the global platform as its spirits have bagged some of the most prestigious awards alongside the top spirits of the world.
Adding yet another milestone accolade to their name, Short Story Dry Gin has secured a Gold Medal and has also been declared as the ‘Country Winner’ for being the best London Dry Gin from India, at the World Gin Awards 2024 organized by The World Drinks Awards – the global awards selecting the very best in all internationally recognised styles of drink and presented by TheDrinksReport.com.
Pankaj Balachandran, Brand Director, Short Story, said, “Earlier, there was a prevailing notion that premium liquor equated to imported spirits. Our goal was to shift that perception and create a homegrown spirit that not only resonated with Indians but also instilled a sense of pride in consumption. It is immensely gratifying to see our spirits being appreciated globally and equally reassuring that we are on the right path towards our goal to take Indian spirits worldwide!”
Speaking further about the spirit he added, “Post the pandemic we noticed that the Indian consumer is no longer just looking for a quick, cheap drink. They’re seeking out newness as well as quality. Much buzz and hype had been generated about the ingredients and the technique that goes into the creation of some of our homegrown brands, but we wanted to keep things simple and let the spirits speak for themselves to consumers. Hence the name, Short Story!”
The brand has already garnered over 15 international awards to its name! Last year, Short Story’s spirits managed to bag multiple international awards in just their first year. DBSB, awarded Short Story White Rum a Gold medal in their Summer Tasting 2023 in the UK. Additionally, all three spirits – Grain Vodka, Dry Gin, and White Rum – won Gold medals at the San Francisco World Spirits Competition. Moreover, at the Asian Spirits Masters 2023, Short Story Grain Vodka was awarded the highest honor – Master Medal, a recognition reserved for only 10 spirits among competitions from over 59 countries, while the White Rum earned a Gold Medal. Furthermore, all three spirits of the Short Story portfolio also swept Gold Medals at the Singapore World Spirits Competition 2023.
Short Story is currently accessible in nine domestic markets, including Maharashtra, Goa, Delhi, Karnataka, Haryana, Rajasthan, and more. It also holds a presence in travel retail at Mumbai Duty Free. In the coming months, the brand plans to extend its reach to additional domestic and international markets. Moreover, Short Story can be found in many premier bars across its available cities, such as The Bombay Canteen, Americano, Masque, Copitas, Hideaway, Sidecar, Klap, Izumi, PCO, and more.
Burger Singh, a Gurugram-based restaurant chain, reported that its website was hacked on Tuesday by Pakistani hackers.
The company stated on X, formerly known as Twitter, that hackers not only breached but vandalized their website, leaving a digital graffiti wall on the same.
“It seems our digital doorstep got a surprise makeover on the 27th of February, 2024, thanks to a special visit from our not-so-friendly neighbourhood web wizards, Team Insane PK, straight out of Pakistan. And guess what? We weren’t the party of the year—Gujarat University got an invite too,” the company said in a press statement.
The company adds that the backstory to this attack could be the result of a cheeky promo called “Fpak20,” ring any bells?) that the company used recently offering discounts.
The promo code offered a 20% discount on all orders placed online in light of the airstrike on the Jaish terror camps, media reports said.
The culprits, a group known for their digital doodling on sites from Delhi Police to Mumbai Police and beyond, seem to have taken a particular interest in our humble burger domain. Their resume is impressive, in a ‘most wanted’ kind of way, and now, we’re the latest addition, the company added.
The growth in the number of active users for the top 20 online retailers more than halved last calendar year, reversing the surge seen during the pandemic as shoppers shift to brick-and-mortar stores.
The active user base in these online firms reached 499 million in 2023, up from 455 million in 2022.
Nevertheless, the growth rate stood at 10%, marking a five-year low in comparison to the 22-55% surge recorded between 2019 and 2022, as per the most recent report released by the Boston Consulting Group and the Retailers Association of India.
According to the report, the slowdown in new user addition on eCom post-Covid period acceleration could be due to the consumers partially switching back to offline.
The surge experienced during Covid was a result of mobility restrictions, and a decline in funding within e-commerce is also noted, with a 58% decrease in deals in 2023 compared to the previous year.
However, the share of e-commerce retail in the total retail market has grown from 4% in 2018 to 8% in 2023, with expectations of reaching 13-15% by 2028.
“Jump in user growth during Covid was reported but growth in new user addition declining, driven by a shift in consumer habits, lower discounting and growing premiumization,” BCG said in the report.
However, the growth of e-retail is expected to continue in Tier 2 cities, with projections suggesting a contribution of over 50% in the medium term. Moreover, Tier 2 regions are demonstrating higher spending per order.
There has been a 60% increase in time spent on apps over the past year, along with a 40% rise in data consumption and an additional 20% increase in consumer spending within apps.
India continues to be a bright spot among the major economies, growing fastest among the top 5 global economies and projected to become the 3rd largest by GDP in 2030. Additionally, India’s retail market is expected to reach $2 trillion in the next 10 years, presenting a significant opportunity for retailers.
Organised retail in India has consistently shown faster growth compared to the underlying category. Nevertheless, recent quarters have seen subdued performance due to potential headwinds.
Some major retailers have noted a decrease in like-for-like store growth. However, profitability has remained steady and aligned with global peers during the same period.
“The Indian retail sector will more than double in size to 2 trillion dollars in the next decade – across categories and formats – and the successful retailers are the ones who continue to challenge the perceived growth profitability trade off,” said Abheek Singhi, Managing Director and Senior Partner at BCG.
As per the report, consumers are allocating more of their spending towards experiences rather than products, with service categories experiencing a growth rate of 1.4 times the Compound Annual Growth Rate (CAGR) of product categories.
“By focusing on personalized customer experiences, exploring new collaborations, and leveraging AI for efficiency, we can propel India’s retail industry towards unprecedented growth and global competitiveness,” said Kumar Rajagopalan, CEO, Retailers Association of India (RAI).
Beauty and personal care house of brands Honasa Consumer Pvt. Ltd has recently unveiled a multi-brand outlet (MBO) in Bengaluru, as stated by a mall official on social media on Tuesday. The outlet is located on the upper ground floor of Mantri Square Mall, Malleshwaram.
“Happy to announce the arrival of the first store of Honasa Consumer at Mantri Square Mall. The first offline store of Honasa Beauty brings together beauty and personal care infused with technology and a commitment to customer satisfaction,” said Kamakshi Mantri, chief strategy officer at Mantri Developers Pvt. Ltd. in a LinkedIn post.
While Mantri claims this store to be the brand’s first MBO in the country, Snackfax had reported Honasa opening an MBO at Seasons Mall, Pune in January, making this the company’s second MBO in the country and first in Bengaluru.
The store showcases a range of beauty and personal care brands, which include Mamaearth, Aqualogica, The Derma Co, Ayuga, Dr. Sheth’s, and the hair care brand BBlunt.
Established in 2016 by Varun Alagh and Ghazal Alagh, Honasa Consumer adopted a digital-first approach. The company introduced Mamaearth, a toxin-free baby care brand, as its flagship product. Subsequently, the brand diversified its offerings to include beauty and personal care products for adults.
In 2020, The Derma Co became a part of the company, followed by the introductions of Aqualogica and Ayug in 2021. The acquisitions of BBlunt and Dr. Sheth’s occurred in 2022, coinciding with the parent company’s achievement of an annual revenue milestone of INR 1,000 crores in the same year.
During the third quarter (Q3) of the financial year (FY) 2024, the company demonstrated robust performance, exhibiting a revenue growth of 28% and a remarkable year-on-year profit after tax (PAT) surge of 264% to INR 26 crore.
Patanjali Foods, a subsidiary of the Baba Ramdev-led Patanjali Group, affirmed that its business operations and financial performance will remain unaffected by the recent Supreme Court remarks regarding advertisements for ayurvedic medicines sold by another firm within the promoter group. Clarifying in a regulatory disclosure, Patanjali Foods Ltd stated that the Supreme Court’s observations do not pertain to Patanjali Foods Ltd (PFL), an autonomous listed entity solely engaged in the production of edible oil and FMCG food products.
“The observations do not have any beating on the regular business operations or the financial performance of Patanjali Foods,” the company said.
Patanjali Group has nearly 74 per cent stake in Patanjali Foods.
Out of 73.82 per cent promoter stake, Patanjali Ayurved has 32.37 per cent stake.
Earlier, the Supreme Court, expressing concern, stated that the nation had been “misled,” as it temporarily prohibited Patanjali Ayurved from advertising or branding products intended for medical treatment until further directives are issued.
The apex court issued notices to Patanjali Ayurved and its Managing Director Acharya Balkrishna, questioning why contempt proceedings should not be initiated against them for apparently breaching the firm’s commitment made in court regarding the advertising of its products and their medicinal effectiveness.
Marriott International, the world’s largest hotel chain by number of rooms, reaffirmed its long-term commitment to South Asia on Tuesday by adding more than 4,600 rooms to the development pipeline following the signing of 28 hotel deals in 2023 and this year so far. At Marriott, South Asia comprises India, Nepal, Bhutan, Bangladesh, and Sri Lanka.
Marriott emphasized that its strategy highlights the company’s expansion in the region, where it presently manages a collection of 160 operational properties spanning 17 unique brands. Within India, the company oversees operations at 148 hotels.
In 2024, Marriott anticipates the opening of 14 hotels, including the debut of the Moxy brand in South Asia in early January 2024. The company also plans to introduce the Ritz-Carlton brand with The Ritz-Carlton, Amila Hills in Shimla, expected to open in May 2029. Additionally, Marriott intends to expand its luxury footprint in India with the JW Marriott Surat Resort and Spa and the JW Marriott Sohna Resort and Spa in Delhi-NCR.
“Marriott International’s strategic expansion in South Asia solidifies our commitment to accentuate the strong growth within the region’s travel and tourism sector,” said Rajeev Menon, president, Asia Pacific excluding China, Marriott International. “Our diverse brand portfolio, Marriott Bonvoy – an award-winning travel programme and strong distribution platforms position us well to create experiences and benefits for our guests and stakeholders in the region,” he said.
Kiran Andicot, regional vice president development, South Asia at Marriott International, said the chain’s focus remains on capitalising on opportunities in key gateway cities, strategic commercial centres, and major resort destinations in the region.
“By debuting Marriott International’s portfolio of brands into new markets, we offer best-in-class experiences to meet the demands of today’s travellers,” he added.
The chain stated that 77% of the rooms signed in 2023 are within the luxury and premium portfolio, compared to 48% in 2022.
Marriott Hotels and Resorts, the leading brand of the company, is set to unveil its presence in emerging locales with six new additions to its roster of premium brands. The forthcoming properties include Guwahati Marriott Resort & Spa, Ludhiana Marriott Hotel, Ayodhya Marriott Hotel, Shimla Marriott Hotel, and the Amritsar Marriott Hotel.
“Westin Hotels & Resorts will augment the wellness portfolio with the anticipated addition of the Westin Hyderabad Resort and the Westin Coorg Resort and Spa. Le Meridien Hotels & Resorts is expected to expand its footprint in North India with the Le Méridien Jalandhar,” according to the company.
Marriott also plans to broaden its collection of select brands throughout the region, responding to robust demand for chic yet affordable hospitality, according to the company.
Approximately 45% of the upcoming properties set to open in India within the next four years will be represented by Courtyard by Marriott and Fairfield by Marriott. These include Courtyard by Marriott Gwalior, Courtyard by Marriott Guwahati, Beltola, Fairfield by Marriott Guwahati, Fairfield by Marriott Andheri, Fairfield by Marriott Jalandhar, and Fairfield by Marriott Naina Tikker in Himachal Pradesh.
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