Gokyo, a Mumbai-based outdoor clothing brand, has opened a new store in Noida, as stated in a release by the company on Monday.
This marks the brand’s expansion into the North region, including the NCR, with the new store located in the Gulshan ONE29 mall.
The newly opened Gokyo store presents a selection of outdoor clothing and gear meticulously curated to cater to the varied requirements of adventurers. Featuring the Explorer Series, Alpine Series, and Sherpa Series, Gokyo provides a diverse array of products tailored for beginners, intermediate, and expert adventurers alike.
“It excites us all at Gokyo to introduce our successful range of high-quality outdoor clothing and gear to Northern India with our new store in Noida. Through our presence in the Gulshan ONE29 mall, we look forward to inspiring and equipping more adventure enthusiasts to explore the extremes with functionality and style,” said Venkatesh Maheshwari, Co-Founder, Gokyo.
As of now, the brand also operates another store in Malad, Mumbai.
Pee Safe, a Gurugram-based personal hygiene and wellness brand, has teamed up with the Indian Navy and Navy Welfare and Wellness Association (NWWA) to supply women’s hygiene products to serving female personnel, as per a company statement released on Monday.
This collaboration is part of the Memorandum of Understanding (MoU) that was signed by the Indian Navy and NWWA with Pee Safe as part of the former’s wellness initiative for ‘Women in White, the release added.
On the occasion of the 38th NWWA Diwas, Pee Safe kits were distributed to all women officers and Agniveers posted in Delhi, with plans for distribution across all commands. The kit consists of a Menstrual Cup, a Sterilizing Container, a Menstrual Cup Steam Sterilizer, and a Menstrual Cup Wash.
“Pee Safe considers it a great honour to provide essential feminine hygiene products to the Indian Naval Fraternity. Their dedication and hard work in their incredibly important roles are truly inspiring to us. Our commitment to supporting their well-being remains unwavering, as we strive to ensure that they receive the comfort and care they deserve while focusing on their vital work throughout their menstrual cycle, said Vikas Bagaria, founder, Pee Safe.
Established in 2017 by Srijana Bagaria and Vikas Bagaria, Pee Safe has been focused on providing women with solutions to their everyday problems. Its products are available in upwards of 20,000 retail counters across 100+ cities in India. Pee Safe also exports to 22 countries along with a presence in all major e-commerce marketplaces, apart from their website.
They have catered to more than 6 million customers (with over 700,000 registered customers on their website). According to its official LinkedIn handle, the company recently secured a Series B funding of $3 million.
As per information available on the NCLT website, Velvin Group, a leading Indian manufacturer of sustainable packaging solutions, filed the plea in November last year. The plea was registered earlier this month.
It’s worth noting that Dunzo has received numerous legal notices from its vendors regarding payment of outstanding dues, as it grapples with severe cash flow issues that are hindering its ability to sustain operations.
Last year, the startup received legal notices from Google India, Nilenso, Clover Ventures, Facebook India Online Services Private Limited (FBI), Cupshup, Koo, and Glance for the same matter. Dunzo’s outstanding dues to these vendors amount to around INR 11.4 Cr.
Established in 2015 by Kabeer Biswas, Suri, Mukund Jha, and Ankur Aggarwal, Dunzo connects consumers with nearby stores and facilitates deliveries of products including groceries, medicines, and food, among other daily needs. Its venture into the quick commerce realm with Dunzo Daily led to a sharp increase in its cash burn.
Dunzo encountered difficulties in expanding its business, especially when juxtaposed with quick commerce giants like Blinkit, Zepto, and Swiggy Instamart. Although it has shifted its focus solely to the less capital-intensive B2B operations, it remains a minor contender in this sector, contending with competitors such as Porter, Shiprocket, as well as Zomato and Ola.
Dunzo has secured approximately $457 million through various funding rounds to date. Among its investors are Reliance, Google, Lightbox, Lightrock, and Alteria Capital. In January 2022, the startup received a funding of $240 million from Reliance Retail.
Dunzo has faced significant challenges over the past year or so, primarily due to cash flow constraints, leading to several rounds of layoffs and prolonged delays in employee salary disbursements. Additionally, the startup experienced the departure of some key board members and co-founder Dalvir Suri last year.
In the midst of these developments, Flipkart is said to be considering acquiring the financially struggling startup. Nevertheless, complications regarding Dunzo’s ownership structure have posed challenges for both parties in reaching an agreement.
The Bengaluru-headquartered hyperlocal delivery startup witnessed a significant increase in losses, soaring to INR 1,801 crore in the financial year 2022-23 (FY23) from INR 464 crore in the preceding fiscal year. Although its operating revenue surged by 317% to INR 226.6 crore in FY23 from INR 54.3 crore in FY22, total expenses ballooned by 286% to INR 2,054.4 crore in FY23.
Team India and Chennai Super Kings‘ fast bowler Deepak Chahar took to social media on Saturday to express his dissatisfaction with food delivery service Zomato. He claimed that despite placing an order through the app, he never received it, and the company falsely marked it as delivered.
Sharing his ordeal on social media, Chahar highlighted the mismanagement by Zomato in delivering the order and also pointed out that the customer service labelled him a liar.
new fraud in India ???? . Ordered food from @zomato and app shows delivered but didn’t receive anything. After calling the customer service they also said that it’s been delivered and m lying ???? . M sure lot of people must be facing same issues. Tag @zomato and tell your story . pic.twitter.com/PwvNTcRTTj
Chahar’s call for other users to recount similar negative experiences prompted Zomato to swiftly initiate damage control, issuing an apology to the cricketing star.
new fraud in India ???? . Ordered food from @zomato and app shows delivered but didn’t receive anything. After calling the customer service they also said that it’s been delivered and m lying ???? . M sure lot of people must be facing same issues. Tag @zomato and tell your story . pic.twitter.com/PwvNTcRTTj
Responding to Zomato‘s apology, Chahar highlighted that simply refunding the order amount isn’t an adequate solution, as many others face similar issues.
Just wanted to highlight this as lot of people face this issue and no proper action is taken giving back the money of the order will not solve the issue. Hunger cannot be compensate with money .
Just wanted to highlight this as lot of people face this issue and no proper action is taken giving back the money of the order will not solve the issue. Hunger cannot be compensate with money .
Chahar is gearing up for his return to professional cricket in the upcoming IPL, with his sights firmly set on the upcoming T20 World Cup. The tournament is scheduled to be jointly hosted by the United States and West Indies in June of this year.
Chahar was unable to participate in India’s tour of South Africa in December and the subsequent home T20Is against Afghanistan due to his father’s recovery from a brain stroke.
According to a report by credit rating firm ICRA, the Indian hotel industry anticipates a revenue growth of seven to nine per cent in the upcoming financial year 2024-25. ICRA highlighted that the continued interest in domestic leisure travel and the demand for meetings, incentives, conferences, and exhibitions (MICE) will be key drivers of this growth, despite a temporary slowdown during the forthcoming general elections.
The research firm highlighted that spiritual tourism and Tier 2 cities are anticipated to contribute significantly to the overall demand in the next fiscal year.
According to ICRA, pan-India hotel occupancy estimates have reached a ten-year peak of 70 percent to 72 percent in the current financial year and are expected to remain at that level in the next fiscal year, compared to 68 percent to 70 percent in 2022-23.
Pan-India, average room rates (ARRs) are expected to be around INR 7,200 to INR 7,400 in the current fiscal, which is likely to rise further to INR 7,800 to INR 8,000 in the next financial year.
ICRA holds an optimistic view regarding the Indian hospitality industry, noting improvements in credit ratings, the report said.
The increase in demand led to a rise in supply announcements and the commencement of deferred projects over the past 18 to 24 months. However, it was noted that supply would trail behind demand.
An IndiGo passenger recently spotted cockroaches crawling in the food area during their flight. Sharing the video on X platform, Tarun Shukla raised serious concerns about food hygiene on flights.
“Cockroaches and in the food area of a plane (anywhere for that matter) are just truly awful. One hopes @IndiGo6E takes a hard look at its fleet and checks how this even happened given that it normally flies relatively new @Airbus A320s,” Shukla wrote.
In another tweet, Shukla shared what he said was IndiGo’s response to the video showing the cockroaches.
“We are aware of the video that was circulated on social media showing an unclean corner in one of our aircraft. Our staff promptly took the necessary action onboard. As a precautionary measure, we immediately cleaned the entire fleet and carried out fumigation and disinfection procedures. At IndiGo, we maintain the highest standards of cleanliness and hygiene to ensure a safe, hassle-free experience and regret any inconvenience caused to the passengers,” said the airlines.
Cockroaches and in the food area of a plane (anywhere for that matter) are just truly awful.
One hopes @IndiGo6E takes a hard look at its fleet and checks how did this even happen given that it normally flies relatively new @Airbus A320s :
The video prompted social media reactions, who slammed the airline. A user wrote, “@IndiGo6E is truely gone to dogs. From one of the best in the world to one of the worst. Looks like their leadership has given up completely. Time for another fresh budget carrier to take place?”
Another user wrote, “Very arrogant ,lame and irresponsible response from the side of Indigo. DGCA should take notice of this incident and take strict action against the airline.”
Red Bull has bolstered its position in the sports and energy drink market with the debut of its 2024 summer edition, Curuba Elderflower.
The latest energy beverage combines the taste of curuba, a fruit commonly referred to as banana passionfruit and indigenous to South America, with hints of elderflower, melon, and pineapple.
According to market research platform Appinio, flavors are a crucial factor driving growth in the energy drink category. Their findings reveal that 85% of consumers are keen on exploring “new and unconventional flavors” in energy drinks.
This year’s summer edition, Curuba Elderflower, follows in the footsteps of last year’s Red Bull Juneberry variant and the strawberry-apricot flavor introduced in 2022. The energy drink giant has confirmed that Juneberry, hailed as its most successful new product development (NPD), is now a permanent fixture in its portfolio.
The latest edition will hit shelves nationwide in the UK starting March 11, offering a range of pack sizes as well as a sugar-free option.
Being Human Clothing, a brand overseen by a charitable trust led by Bollywood actor Salman Khan, clinched five awards at the India Fashion Forum 2024, hosted at the Hotel Conrad, Bengaluru, on February 21-22.
The brand received the prestigious Alizeh award in the apparel category, honoring its outstanding achievements in marketing and promotion. Furthermore, its celebrity-endorsed campaign, multimedia ventures in the lifestyle realm, and impactful social cause initiatives were applauded for their efficacy.
Additionally, the retailer was acknowledged as the most admired brand for diversity and inclusivity. It also received the distinguished ESG Initiative of the year award, underscoring its commitment to environmental, social, and governance principles.
Established in 2012, Being Human Clothing was founded with the mission of advancing the goals of ‘Being Human – The Salman Khan Foundation,’ a charitable organization dedicated to providing education and healthcare support to underprivileged communities in India.
It sells its products through over 94 exclusive brand outlets (EBOs), spanning more than 400 multi-brand outlets (MBOs), over 200 shop-in-shop formats, and numerous online marketplaces.
The India Fashion Forum 2024 recognized numerous industry leaders for their exceptional performance and innovative contributions. Among the notable awardees were Rare Rabbit and Tommy Hilfiger for men’s western wear, AND and Vero Moda for women’s western wear, and Mini Klub and United Colors of Benetton for kidswear.
The event spotlighted brands that have demonstrated excellence in marketing, promotions, innovation, and retail expansion. Masaba Gupta for John Jacobs and Forum + BOF PNG Slide were among those acknowledged for their significant contributions.
Sangeet Agrawal and Navin Parwal, Co-Founders, Mokobara
D2C luggage brand Mokobara has raised $12 million (INR 100 crore) in its latest round of funding led by Peak XV Partners (formerly Sequoia Capital India), at a valuation of $80 million post-money.
In September 2023, ET was the first to report on a potential investment of $12-15 million in Mokobara, led by Peak XV Partners, at a valuation ranging from $65 to $80 million.
In the Series B funding round, Mokobara’s current supporters, Sauce VC and Saama Capital, have also joined in. According to regulatory filings with the Registrar of Companies (RoC), of the $12 million raised, approximately $9.4 million has been contributed by Peak XV Partners, with the remaining portion invested by the other two backers.
Established in 2020 by ex-Urban Ladder executives Sangeet Agrawal and Navin Parwal, Mokobara, the luggage and travel accessories brand, has accumulated a total funding of $20 million, encompassing the most recent round. The previous funding round in October 2023 saw Mokobara raising $3.6 million from Sauce VC and Saama Capital.
On its cap table, the Bengaluru-based startup also includes Varun Alagh, the cofounder and CEO of Mamaearth, Ashish Goel, the founder and CEO of Urban Ladder, and Ramakant Sharma, the founder and COO of LivSpace.
Operating within the mid-premium segment, Mokobara competes with a range of players, including established brands like American Tourister and emerging startups such as Nasher Miles.
As per a research note from Crisil in August 2023, despite a high-base effect of 40% growth in the previous fiscal year, India’s luggage industry revenue is projected to increase by approximately 15% year-on-year in the current fiscal year. This growth is attributed to the increasing adoption of hard luggage manufactured by the organized sector, alongside sustained expansion in tourism and corporate travel.
Mokobara’s fundraise comes at a time when risk capital investors are increasingly turning towards consumer brands away from tech companies owing to high valuations commanded by technology startups.
A New Delhi-based investor specializing in consumer-focused ventures emphasized that while India’s consumption narrative has consistently thrived, the tech sector’s acceleration has been propelled by the influx of billions of dollars from venture investors specifically targeting technology. Nonetheless, India’s consumption indicators remain resilient.
“For investors, the thesis is very clear. In any sector, there is enough space for consumer brands to scale and become large…India also has enough number of large brands across categories and segments that can come in as strategic investors opening up an exit route for early-stage investors,” the person added.
Following a notable decrease in input material costs last year and subsequent price reductions affecting the value growth rate of the fast-moving consumer goods (FMCG) industry, consumer goods manufacturers have indicated a “moderate increase” of 2-4% in product prices for this year. This adjustment is anticipated to enhance the pace of growth within the sector.
Godrej Consumer Products, Dabur, and Emami have signaled that price-driven growth will return to the industry. Dabur has implemented a 2.5% price increase for its food portfolio, while Emami plans to implement around 3% price hikes this year.
Sudhir Sitapati, the managing director of Godrej Consumer Products, mentioned that commodity prices are currently stable to slightly increasing, and there’s a positive trend in wage inflation. As a result, product prices are expected to rise slightly in the upcoming quarters, leading to a high single-digit value growth for the industry this calendar year.
“The market growth rate will improve next fiscal,” he said.
Mohit Malhotra, the CEO of Dabur India, remarked that inflation is increasingly tilting towards food items. He pointed out that essentials like cereals and spices are still experiencing double-digit inflation, which is concerning. While there was a slight decrease at one point, it has since resurged, indicating ongoing volatility in prices.
“Even in honey, there is inflation. We have just taken a price increase in oral care, for example, driven by our competitor taking up the price increase. In healthcare, we might be forced to take price increases. Even in spices. So wherever the shoe will pinch, we will have to hike prices,” said Malhotra.
According to FMCG market researcher NielsenIQ, the industry witnessed a significant drop in price growth from 10% in calendar year 2022 to 2.7% in 2023. This decline can be attributed to the decrease in prices across various products last year. In 2022, there was unprecedented inflation in several FMCG input costs, ranging from palm oil to crude oil to packaging materials, driven by geopolitical factors. Despite overall demand remaining subdued, many companies have observed higher volume growth compared to value growth in recent quarters, primarily due to the price downturn.
In the past two years, the edible oil segment experienced remarkable price fluctuations but has witnessed improved price stability over the last 2-3 quarters. Sanjeev Asthana, the CEO of Patanjali Foods, informed analysts earlier this month that prices have remained stable to slightly higher in the past week.
Approximately 65-70% of FMCG companies’ growth has been attributed to volume, while the remainder stemmed from price increases. However, in 2022, price hikes accounted for the entirety of their growth, as volumes either remained stagnant or declined for some companies. Following the cessation of price increases and the adjustment of price tags in response to moderating inflation, these companies anticipate an uptick in volumes.
Sanjay Agarwal, the Chief Financial Officer of Jyothy Labs, remarked that predicting geopolitical and macroeconomic situations has become increasingly challenging.
“So for now, it seems good, has come off from peak and margins — as what we are getting today, we are comfortable with that,” he said.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.
