DCGI cracks down on unregulated cosmetics: Importers ordered to disclose consignment details

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February 27, 2024

The Drugs Controller General of India (DCGI) has asked importers of cosmetics to provide information on consignments coming into the country, as it aims to prevent the sale of unregulated and fake products, according to people aware of the development. The regulator has sought information on the number of consignments, their bills, the quantity imported, and cost of imported cosmetics, among other details.

The importers have acknowledged receipt of the DCGI’s notice. Previously, the DCGI had issued show-cause notices to ecommerce portals regarding the sale and distribution of counterfeit, adulterated cosmetics, as well as cosmetics produced without a valid license, violating the Drugs and Cosmetics Act, 1940.

“The Cosmetics Rules, 2020 have been notified on 15.12.2020 by the government of lndia under the Drugs and Cosmetics Act, 1940 (23 of 1940),” it said in the notice dated February 23.

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

“This office has granted import registration number (lRN) under Form Cos-4A for cosmetics, which are already registered under Rule 13 for import and sale into lndia.”

In the notice, the regulator stated that in accordance with the conditions outlined in IRN under Form Cos 4A, importers are obligated to furnish an annual statement detailing the cosmetics imported to the Central Licensing Authority.

However, it further stated that the office has not been receiving the annual details of cosmetics imported by importers.

The DCGI has thus asked for details like the annual statement of details of cosmetics imported in India from the date of grant of IRN under Cos-4A to their office including details such as number of consignments, bill of entries of each consignment, imported quantity in each consignment, total cost of imported cosmetics in each consignment, warehouse details where those are stored for further distribution and sale among other details.

Earlier, raids were carried out which revealed the extent of illegal cosmetics in the market.

The confiscated items comprised creams containing mesenchymal stem cells, oral glutathione supplements, placenta and glutathione injections, hyaluronic acid injections, botulinum toxin injections, hair serums, peels containing assorted ingredients, collagen pyruvate, biotin hydroxin, pure caffeine, anti-hair loss solutions, skin peel exfoliators, and more.

Continue Exploring: Beauty and personal care tops D2C sales charts in 2023: GoKwik Report

Flipkart expands grocery operations with fourth fulfillment center in West Bengal

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February 27, 2024

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Flipkart, the e-commerce marketplace, announced the opening of its fourth grocery fulfillment center in Malda, West Bengal, as stated in a press release issued on Monday.

According to the release, the center will create over 700 direct and indirect job opportunities within the local community, and also serve as a gateway for thousands of local sellers, MSMEs, and small-scale farmers to access the nationwide market.

Covering an area of 1.13 lakh square feet, the fulfillment center is expected to handle over 7,000 orders daily.

Continue Exploring: Flipkart opens first ever grocery fulfillment center in Bhubaneswar, promising 24 hour delivery

“Our commitment to next-day delivery ensures that local consumers have access to fresh groceries delivered to their doorsteps, bringing the benefits and convenience of e-commerce into their lives,” said Rajneeesh Kumar, chief corporate affairs officer at Flipkart Group.

“With the launch of the fourth grocery fulfillment center in the state, we will be able to offer unparalleled customer service combined with superior value delivered at the customer’s convenience while giving a push to the upliftment of livelihoods of numerous regional businesses and sellers,” commented Hari Kumar G, vice president, head of grocery, Flipkart.

Continue Exploring: Flipkart explores buyout of cash-strapped Dunzo

Coca-Cola’s top brass set to make high-stakes visit to India with 200-member team

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February 27, 2024

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James Quincey, the global chairman and CEO of The Coca-Cola Co, is set to lead a 220-member company leadership team on a visit to India this week, according to executives familiar with the plans. This underscores New Delhi’s increasing importance for the Atlanta-headquartered beverage giant as it seeks to boost sales in mature markets like the US and Europe.

India, boasting the world’s largest population and a youthful demographic, stands as one of the top five priority markets for volume growth for the manufacturer of Coca-Cola, Sprite aerated beverages, Minute Maid juices, and Kinley bottled water.

“The executives are keen on meeting the government brass,” said one of the executives cited above. “They will also be engaging with bottling partners that now operate close to half of Coca-Cola’s bottling business in India – and are crucial since they will infuse capital into the business.”

The teams are scheduled to meet in Goa. Alongside Quincey, the company’s president and CFO, John Murphy, and the global chief marketing officer, Manuel Manolo Arroyo, are leading the teams of Coca-Cola officials.

“India is gaining prominence in global system due to strong earnings over the last two years. There are significant investments into building capacity, and the focus is now on ensuring growth is balanced with profitability,” said one of the executives cited above.

India is considered a core growth target due to the low penetration of packaged soft drinks in the country. However, beverage makers remain concerned about the taxation of aerated drinks. Despite being priced at INR 10 and above, soft drinks are classified in the same tax bracket as alcohol. Under the GST regime, carbonated drinks attract a peak GST rate of 28%, along with an additional 12% compensation cess.

Continue Exploring: Coca-Cola reports robust growth in India in 2023, plans increased investments for expansion

In an earnings management commentary following the December quarter, Quincey stated that Coca-Cola’s business in India experienced “strong growth throughout 2023” despite climate disturbances.

“A significant portion of our expected capital investment increase is to build capacity for our India business and Fairlife (Coca-Cola’s dairy business),” Murphy said during the fourth-quarter and full-year earnings call last fortnight.

In December 2023, Coca-Cola’s regional bottling partner, Hindustan Coca-Cola Beverages (HCCB), unveiled plans to invest INR 3,000 crore in Gujarat for the production of juices and aerated beverages.

In its full-year earnings presentation, The Coca-Cola Co highlighted India and Brazil as leading growth markets in developing and emerging economies throughout 2023. The company noted an augmented value share in the Asia-Pacific region, primarily driven by India, the Philippines, South Korea, and Japan. However, specific market share gains were not disclosed.

Continue Exploring: Coca-Cola undertakes major refranchising move in India, shifting bottling operations to independent partners

Throughout the full year, developed markets saw a 1% growth, with decreases observed in the US and Chile. Conversely, developing and emerging markets experienced a 2% expansion, fueled by the growth witnessed in India and Brazil, as stated by the beverage company.

According to financial data obtained from the business intelligence platform Tofler, Coca-Cola India’s consolidated profit surged by 57% to INR 722 crore in FY23, while revenue from operations rose by 45% to INR 4,521 crore.

An economic policy think-tank, ICRIER, projected that India’s non-alcoholic beverage market would grow to INR 1.47 lakh crore by 2030, a substantial increase from INR 67,100 crore in 2019. The report highlighted carbonated soft drinks and bottled water as the primary contributors to the non-alcoholic beverages sector. Additionally, it emphasized the expanding market for juices, energy drinks, tea, milk, and coffee-based beverages, indicating significant potential to boost consumption of packaged drinks.

WayCool Foods implements second wave of layoffs, 70 employees affected

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February 27, 2024

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Chennai-based WayCool Foods has reportedly let go of at least 70 employees over the past month, marking the second round of layoffs at the agritech startup within a year, according to sources.

According to sources, the recent round of layoffs affected employees across various departments, including sales, research, marketing, and technology.

They added that the startup, which includes subsidiaries like WayCool Censa and WayCool BrandNext, also closed down its warehouses over the last month.

The sources attributed the restructuring exercise to the startup’s inability to secure new funding rounds over the past two years.

In response to inquiries regarding the matter, a spokesperson from WayCool confirmed the layoffs but refrained from disclosing the number of employees affected by the restructuring.

“Over the past one year, WayCool foods has focused its investment behind its own brands, to capture the benefit of its efficient supply chain to the fullest. Our brands have achieved a significant scale. This enables us to build a direct, warehouse free supply chain from source to market. Hence, we have rationalised the warehouse footprint, resulting in some redundancies,” the spokesperson said in a statement.

Continue Exploring: Meat retailer Licious lays off 80 employees in bid for enhanced efficiency

The spokesperson asserted that this transition has enabled the startup to decrease its EBITDA loss by more than 80%, positioning it to potentially achieve EBITDA profitability in Q1 FY25.

“Indeed, several of our business units are already EBITDA positive for several months . We are, as we speak, wrapping up another round of funding and will continue to raise capital as required by the business,” the statement added.

Last year, WayCool launched its FMCG entity BrandsNext, featuring brands like Madhuram, KITCHENji, DeziFresh, and Freshey’s.

Continue Exploring: Agri-tech firm WayCool sets up FMCG arm ‘BrandsNext’, names BP Ravindran as CEO

It’s noteworthy that WayCool implemented a restructuring exercise in July of last year, resulting in the layoff of approximately 300 employees as part of its effort to achieve profitability. While some employees chose to resign, others were requested to tender their resignations.

Last year, reports surfaced indicating that the agritech startup was negotiating to raise approximately $50 million to $70 million, valuing the company at around $900 million. However, it was unable to finalize this funding round due to the prevailing funding challenges. Consequently, WayCool had to reduce its expenses to prolong its operational runway.

WayCool has yet to submit its financial statements for FY23 to the Ministry of Corporate Affairs (MCA). According to reports, the company has reportedly slashed its expenses by 60% since October 2022 and aimed to conclude FY23 with a revenue of INR 1,700 crore.

In FY22, the startup experienced a staggering 142% year-on-year (YoY) increase in its net loss, reaching INR 360.5 crore. Meanwhile, operating revenue surged 2.4 times to INR 926.9 crore from INR 382.3 crore in FY21.

To date, WayCool has secured approximately $300 million in total funding, with support from investors including Lightrock, Lightbox, Lightsmith, 57 Stars, and FMO.

Continue Exploring: WayCool keeps supply chain focus as SunnyBee Market joins Fresh2Day

Kerala’s bar hotel count skyrockets by over 2,600% in 8 years

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February 27, 2024

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In 2016, Kerala had one of the lowest counts of bar hotels. However, currently, the state boasts 801 operational bar hotels, marking an astounding growth rate of 2,662% over the past eight years.

Following the liberalization of the excise policy by the LDF government, the number of bar hotels in the state has surged to 801 from just 29 in 2016. Under the leadership of Pinarayi Vijayan during the second LDF government, a total of 97 new licenses have been issued thus far. Notably, the districts of Thiruvananthapuram, Ernakulam, and Thrissur collectively account for 53% of these bar hotels.

Under the previous LDF government led by Vijayan, 200 new bar licenses were issued, bringing the total number of bar hotels to 671 by the end of the first LDF government’s tenure, including the renewal of expired licenses.

The current count has climbed to 801, with over a dozen in various stages of processing.

“Govt is following transparent rules for granting licences without discrimination. If an applicant me- ets all conditions as per law, the licence will be issued,” said local self-govt and excise minister M B Rajesh.

Continue Exploring: Hotel association calls for GST reform, seeks 5% rate for in-house restaurants

Although Thiruvananthapuram and Ernakulam have seen numerous applicants, districts like Wayanad and Idukki, renowned for tourism, have relatively few takers for bar hotels. Notably, no fresh licenses were issued in Kasaragod and Pathanamthitta. Additionally, over the past two-and-a-half years, the number of newly established bar hotels has been minimal in districts such as Idukki (2), Malappuram (2), Kannur (4), Wayanad (5), and Kozhikode (5).

The low uptake in Wayanad and Idukki is attributed to reduced business activity on weekdays. “For survival of bar hotels, a steady and regular business is required. They will not survive with just weekend business, which is the trend in resorts in Idukki or Wayanad,” said general secretary of Federation of Kerala Hotels’ Association K B Padmadas.

According to the association’s evaluation, the average daily sales in a bar hotel in the state range from INR 1 to 1.5 lakh. However, for bar hotels to become profitable, they require a minimum daily sales of INR 2 lakh. The government has been steadily increasing license fees and liquor prices.

Moreover, stiff competition from Bevco outlets is compelling the bars to adhere to a restricted pricing structure.

“The business has become unaffordable for bar hotel owners. Most owners have availed huge loans to set up the hotels. Also, every five years, the star classification has to be conducted. According to our estimation, some of these may shut down because of a non-profitable business in the coming years,” said Padmadas.

Despite its 272 outlets, Bevco has recently managed to draw in a larger customer base.

“Bevco has focussed on improving services offered to customers. The supermarket system where customers need not wait in long queues, automated billing, online payment facilities, etc, have made Bevco a place where any citizen, irrespective of male or female, can visit without hassles,” said Yogesh Gupta, chairman and managing director of Bevco.

Tech adoption imperative for food businesses, says Riyaaz Amlani of Impresario

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February 27, 2024

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Sharing an insightful narrative on the evolution of India’s food services industry, Riyaaz Amlani, Founder and MD of Impresario Entertainment and Hospitality, emphasized the indispensable role of technology in shaping the industry’s future.

“Restaurateurs have been traditionally very slow to adopt technology as it is a person-to-person business. But it’s becoming inevitable. Every company needs a CTO now more than ever,” said Amlani in a candid conversation at the Great India Retail Summit 2024, held in Mumbai earlier this month.

He further expressed his opinion that companies failing to adopt technology, both to streamline processes and as a means of storytelling, will quickly become disconnected from their audience.

Continue Exploring: Nestlé India collaborates with SOCIAL and BOSS Burger to debut MAGGI’s plant-based menu across major cities

Acknowledging the influence of India’s tech ecosystem, especially the swift integration of digital payment solutions such as UPI, he highlighted that food enterprises now facilitate approximately 40 percent of transactions through UPI, surpassing cards and cash. This marks a significant shift from seven years ago when cash transactions dominated, comprising nearly 70 percent of the total.

“The aggregators have become very dominant in the market. The India tech stack has been incredible. 40% of transactions today come from UPI.”

Furthermore, he emphasized the transition towards QR code menus and digital storytelling, acknowledging the contemporary consumer’s demand for readily accessible information.

Established in 2001, Impresario stands as the parent organization of well-known eateries and cafes like Social, Smoke House Deli, Mocha, and Slink & Bardot.

Continue Exploring: SOCIAL breaks ground in Hyderabad with first outlet at Mindspace IT Park

IGP unveils its first retail outlet in Mumbai, eyes expansion across India

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February 26, 2024

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IGP, the multi-category gifting platform, has unveiled its first retail outlet in Mumbai, situated in Bandra West. Additionally, it intends to open two more stores in Breach Candy and Vashi, Navi Mumbai, within the coming month.

The store exhibits IGP’s diverse offerings, ranging from fresh flowers and gourmet foods to personalized gift hampers, among other items.

“Launching our first experiential retail store in Mumbai marks a pivotal moment for IGP. We’re excited to provide our customers with a space where they can physically discover our diverse range of offerings. This milestone reflects our commitment to innovation and elevating the user’s gifting experience,” said Tarun Joshi, Founder of IGP.

Continue Exploring: IGP takes gifting to new heights with 30-minute instant delivery service

The gifting retailer will soon expand its retail presence across the country with upcoming store launches.

Based in Mumbai, IGP boasts an extensive delivery network comprising three mother warehouses and more than 50 dark stores.

With customers in over 100 countries worldwide and serving more than 1000 cities in India, the brand has established a global presence. Its team of over 1100 employees operates from offices in Mumbai, Delhi, Bengaluru, Hyderabad, Kolkata, Lucknow, Jaipur, Pune, Singapore, Dubai, and California.

Continue Exploring: Online gifting giant IGP enters Dubai, aims at $10 Million revenue in 1.5 years

Snapdeal expands lifestyle portfolio with 1,200+ new brands, prioritizing affordability and quality

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February 26, 2024

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Snapdeal, the Gurugram-based e-commerce platform, announced on Monday the expansion of its lifestyle product portfolio by onboarding multiple brands.

In the past three months, the AceVector Ltd. value fashion marketplace has successfully brought on board more than 1,200 brands onto its platform.

Snapdeal’s latest fashion collection showcases a variety of renowned brands such as Jockey, Rosaline by Zivame, Varanga, House of Ramraj Cotton, John Players, Clovia, Red Tape, Janasya, Aurelia, Nauti Natti, and the newly introduced Ketch, among others. With prices ranging from INR 249 to INR 999, these brands guarantee accessibility without sacrificing style or quality.

Continue Exploring: Cash-on-Delivery remains top choice for Indian online shoppers, IIM-A survey finds

Within the footwear section, Snapdeal presents a selection of brands such as Carlton London, Sparx, Campus, and Action, with prices beginning at INR 599. Moreover, Snapdeal’s accessory collection showcases a diverse array from acclaimed brands like Baggit, Daniel Klein, and more, providing the ideal complement to any ensemble.

Himanshu Chakrawarti, CEO of Snapdeal, commented, “As Snapdeal enters a phase of substantial growth, this reflects our progressive stance in evolving into a holistic fashion destination for consumers who prioritise quality living at affordable prices. We plan to consistently add new brands to the portfolio and provide a lifestyle that is both stylish and values-driven.”

Currently, 86% of Snapdeal’s orders are sourced from non-metro areas, with more than 72% of purchasers coming from smaller towns and cities. Nearly 95% of the products offered on Snapdeal are priced below INR 1000. Founded in 2010, the company is assessed to be valued at $4 billion and is projected to experience a growth rate of 26% CAGR, aiming to achieve a valuation of $40 billion by 2030, according to its LinkedIn profile.

Continue Exploring: Snapdeal CEO anticipates a positive year ahead for retail and e-commerce industries

Bevzilla debuts Beauty Coffee packed with Marine Collagen & Biotin for ultimate wellness

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February 26, 2024

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Bevzilla, a prominent direct-to-consumer caffeine beverage brand, has introduced its latest product: The Beauty Coffee, infused with Marine Collagen, Biotin, and Vitamin E.

Traditionally, beauty and skincare have revolved around topical products and nutritious superfoods in one’s diet. However, Bevzilla’s Beauty Coffee offers a contemporary twist by bringing skincare benefits into your daily coffee cup. This luxurious addition to your routine seamlessly blends indulgence with beauty priorities, enhancing your daily rituals with ease and elegance.

Amidst the prevailing coffee culture, Bevzilla offers a refreshing newcomer — a promising consumer-centric beverage inclusive of ingredients like Marine Collagen and Biotin that are focused on enhancing skin elasticity and strengthening hair and nails. It seamlessly blends into the busy lifestyle, offering a taste experience that remains uncompromised, given the rich flavors of Arabica beans and the beauty benefits. A distinctive fusion of Arabica beans, Marine Collagen, Biotin, and Vitamin E in the coffee powder results in radiant skin and stronger hair, which further sets this product apart from conventional beauty products in the market. The Beauty Coffee package comes with 30 sachets.

Continue Exploring: Bevzilla unveils Green Coffee Powder, merging health benefits and flavor in a unique brew

Divisha Chaudhary, Co-Founder of Bevzilla commented, “The Beauty Coffee caters to those passionate about wellness and skincare. Crafted for individuals who prioritize self-care, our product offers an easy and gratifying means to effortlessly enhance natural beauty. We believe in helping you elevate your daily routine with Beauty Coffee—a near-perfect balance of indulgence and skincare, ensuring each sip is a step towards radiant well-being.”

Sanchit Garg, Co-Founder of Bevzilla added, “When formulating Beauty Coffee, we envisioned something more grandiose than just a beverage. We put together a luxurious and indulgent beauty ritual into each sip. We believe that by seamlessly integrating our coffee into your daily routine, consumers can effortlessly elevate their self-care practices with the sufficiency of biotin and collagen. With no compromise on taste, ‘Beauty Coffee retains the richness of arabica beans and the inherent beauty benefits of its ingredients. This coffee is your hack to a flavourful skincare practice!”

Continue Exploring: Third Wave Coffee and Ironhill India collaborate to redefine tastes with innovative coffee-beer fusion

Madras Mandi ramps up presence in Chennai, aims for 20 new stores in 2024

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February 26, 2024

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Madras Mandi, a prominent fresh produce brand, is taking a significant step to solidify its presence in the Chennai market. With a keen awareness of the market’s demands for quality, affordability, and convenience, the brand is embarking on a substantial offline expansion throughout the city. By the end of 2024, Madras Mandi aims to inaugurate 20 new stores in Chennai.

This strategic expansion reflects the brand’s dedication to providing tailored shopping experiences that resonate with the distinct preferences of Chennai’s diverse neighborhoods. Moreover, this initiative forms part of a broader strategy to improve access to farm-fresh products and foster deeper connections within local communities.

“Our expansion in Chennai is not just about opening new stores; it’s about embedding ourselves in the fabric of each locality, offering a tailored experience that meets the specific needs of our customers,” said Prashanth Vasan, CEO of Madras Mandi.

“We’re here to build lasting relationships with the Chennai community, providing them with fresh, quality produce that enriches their daily lives.”

Continue Exploring: Madras Mandi expands its reach in Chennai, opens new store in Neelankarai

Madras Mandi sets itself apart from competitors through unique farm experiences and community-focused events like “Kootanchoru,” with the aim of building stronger connections with its customers. These initiatives, combined with a commitment to fresh, quality produce, position Madras Mandi as a frontrunner in the Chennai market. The “Kootanchoru” event, a curated pop-up dinner celebrating communal dining and local cuisine, showcases Madras Mandi’s dedication to bringing people together over shared meals and premium ingredients.

With a user base surpassing 500,000 and more than 500,000 orders fulfilled to date, Madras Mandi’s expansion showcases its robust market presence and earned customer confidence. Looking ahead, the brand’s five-year vision entails prioritizing quality, sustainability, and waste reduction, reaffirming its steadfast commitment to delivering top-notch products to its clientele.

Madras Mandi’s foray into Chennai is integral to its overarching growth strategy, reflecting its ambition to become a household name in fresh produce retailing. As Madras Mandi continues to expand, it remains steadfast in its mission to deliver uncompromised quality vegetables, aiming for a presence in every neighborhood and eventually branching out to Tier 2 cities in the south.

Continue Exploring: B2B marketplace MyMandi secures INR 10 Crore funding for expansion and innovation

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