February 22, 2024

Ikea India has decided to discontinue operations at its R-City Mall store in Mumbai by the middle of this year. This move will see the Swedish retail giant consolidating its Mumbai operations to Ikea Worli and Ikea Navi Mumbai, alongside its e-commerce operations.

Opened in 2022 as part of the company’s strategy to experiment with smaller format concepts in India, this store faced challenges in delivering the complete brand experience due to layout and design-related constraints.

Employees at the R-City store will not be impacted and will be given opportunities to work at other stores operated by the retailer.

“This strategic decision is at the back of the learnings we have had in terms of customer experience and aligned to our vision of creating a leaner and faster retail business in the country. It further allows us to consolidate our Mumbai operations to Ikea Worli, Ikea Navi Mumbai and online presence, while exploring newer opportunities for future growth,” Ikea India said in a statement.

Continue Exploring: IKEA eyes major investment boost in India as it explores next phase of funding and expansion plans

“The focus on growing Mumbai remains robust as we explore newer omni-channel formats for the city, further develop the existing IKEA Navi Mumbai site into a retail destination, expand our physical presence in Pune, and become even accessible through our online presence across Maharashtra. India is a long-term priority for IKEA, and we will continue to invest in more growth avenues and job opportunities,” the company added.

“Taking care of our dedicated co-workers is our highest priority. We are committed to supporting them with equal growth opportunities and a seamless transition and have them continue to be a part of the IKEA family,” Ikea India added.

Earlier this month, the Swedish furniture retailer extended its doorstep delivery services to 62 additional districts across four states, encompassing 14 districts in Maharashtra as well as areas in Karnataka, Telangana, and Andhra Pradesh.

Additionally, it plans to commence e-commerce operations in Delhi within one year ahead of the store launch in the region. Ingka Centres, Ikea’s parent Ingka Group’s shopping centre division, will open Lykli Gurugram meeting center in late 2025, while another meeting place is being developed in Noida.

Continue Exploring: Ikea expands reach with online doorstep deliveries to 62 new districts in India; plans e-commerce launch in Delhi-NCR within a year

Accessorize London bolsters e-commerce capabilities with Unicommerce integration

SnackTeam

February 22, 2024

Accessorize London, the fashion accessories brand, has teamed up with Gurugram-based e-commerce enablement SaaS platform Unicommerce, as stated in a joint release on Thursday.

Accessorize London has adopted Unicommerce’s multi-channel order management and warehouse management system. This technology is poised to optimize warehouse operations by assigning orders to the nearest facility, ultimately leading to faster deliveries for customers. Additionally, the Unicommerce platform will assist in returns management, reducing return orders and enhancing the post-purchase experience for Accessorize London’s customers.

Continue Exploring: IPO-bound Unicommerce reports INR 6.3 Cr PAT in H1 FY24, matching full FY23 earnings

Exclusively dedicated to e-commerce and retail, Accessorize London intends to integrate Unicommerce’s omnichannel retail management system, enabling the seamless processing of orders across both physical and digital channels. Presently, the fashion brand handles an average of over 20,000 orders per month.

Accessorize London, a subsidiary of Planet Retail Holdings Pvt. Ltd., maintains stores across various cities including Mumbai, Bengaluru, Haryana, Kolkata, Hyderabad, Punjab, Delhi, Goa, Nagpur, Ahmedabad, and Pune, with over 25 stores according to the company’s official website.

“We are presently in the phase of creating a collection tailored specifically for India, collaborating closely with our design team in the UK. As we expect e-commerce to take a larger share of our revenue in the coming years, our partnership with Unicommerce is another step towards building our operational strength and our focus on providing a seamless shopping experience to our customers,” said Kumar Saurabh, CEO of Planet Retail Holdings.

Continue Exploring: The Souled Store elevates customer experience through collaboration with Simpl for seamless 1-Tap checkout integration

California lifestyle apparel brand Dockers makes big bet on Indian market, plans five store openings in first year

SnackTeam

February 22, 2024

Dockers

Dockers, the California-based lifestyle apparel brand, is betting big on India’s physical retail growth and has planned to open five stores in the first year of its entry into India, in addition to entering 14 cities through Shoppers Stop.

Natalie MacLennan, the Chief Executive Officer of Dockers, disclosed that over 50% of the company’s sales originate from countries beyond the borders of the United States. Additionally, she emphasized the brand’s ambition to expand its presence in the Asian market.

“We are big in Europe, but Asia is an area that we are really looking to grow in. And I would say India, for us, is one of the most exciting countries within that region just given the scale, given the growth, given the dynamics going on in the country,” said Natalie MacLennan.

Continue Exploring: French apparel brand Kiabi partners with Myntra for Indian debut

Dockers has forged a partnership with the retail technology firm Ace Turtle to make its entry into the Indian market.

Ace Turtle, licensed to retail fashion and lifestyle brands like Lee, Wrangler, Toys ‘R’ Us, and Babies ‘R’ Us in India, will bolster Dockers’ presence both in physical stores and online platforms.

“We are opening our first store, and after going live in Delhi, we are also coming up with four more stores. There is an exclusive partnership which we have done for offline on our department store side with Shoppers’ Stop. They go live this week as well, and then with Myntra, which for online third-party marketplace, which also goes live this week,” said Nitin Chhabra, CEO, ace turtle.

Dockers, a division under Levi Strauss & Co., enjoys a global presence spanning across 50 countries.

MacLennan stated that India holds the potential to emerge as one of Dockers’ largest markets outside the US, with the India team prepared with an ambitious expansion strategy.

For Dockers, omni-channel is important and post Covid, the consumer is looking for an experience at the store.

Continue Exploring: Smart clothing brand TURMS makes waves on Shark Tank India Season 3, secures INR 1.2 Crore investment for innovative apparel line

The majority of the products will be manufactured in India, with additional quantities sourced from Dockers’ global supply chain.

“But with each passing season the local component is going to increase. Close to 65% of the inventory will be locally produced while 35% will be imported and as we keep going deeper each season, the India components are going to increase,” said Chhabra.

Ace Turtle is targeting Delhi, Mumbai, and Bangalore as the initial locations to establish stores before expanding to other cities.

Ace Turtle, having recently secured $34 million (around INR 293 crore), intends to allocate a portion of the capital towards the expansion of Dockers.

Continue Exploring: India’s apparel exports on the rise: CMAI forecasts 10-15% YoY growth in UAE market

Popeyes makes grand debut in Delhi’s Chandni Chowk, delighting chicken aficionados

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February 22, 2024

Jubilant FoodWorks Limited (JFL), the food service giant, delighted customers with the grand opening of Popeyes, the renowned Louisiana Chicken brand, at Chandni Chowk in Delhi.

This marks the highly anticipated debut of the iconic Louisiana-style chicken giant in the national capital region, located at the Omaxe Chowk mall.

Popeyes, celebrated worldwide for its bold, Louisiana-style fried chicken and the globally famous Chicken Sandwich, which took the internet by storm in August 2019 in the USA, is now all set to enamour the taste buds of Delhi’s chicken aficionados.

Accessible globally and across southern India, Popeyes will now bring its legendary fried chicken, renowned for its crispy texture and distinctive blend of spices, to the national capital.

In addition to its Chicken Sandwich and renowned Hot & Messy Range, the menu will showcase Cajun-flavored Chicken Tenders, Popcorn Chicken, Rice Bowls, Wraps, and more.

For vegetarian diners, Popeyes offers tantalizing choices such as Cajun Veg Burgers, Veg Wraps, Cajun Fries, and Onion Rings.

Sameer Khetarpal, CEO and MD of Jubilant FoodWorks Limited, shared his excitement as the globally renowned fried chicken brand, Popeyes, enters the consumer market of the national capital.

Continue Exploring: Jubilant Foods expects Popeyes to hit INR 1,000 Crore sales mark in 3-4 years, plans rapid expansion

“Since our launch in India two years ago, we have been humbled by the overwhelming response to the brand. We aspire to recreate the same fan following in Delhi that we have received in other cities by generating the same excitement and loyalty for Popeyes and its signature dishes. The unique, delicious, and wholesome Cajun flavours of Popeyes are certain to appeal to the Indian audience,” he added.

The brand is set to further captivate the city with plans for additional store openings in strategic locations, including Pacific Mall, Jasola, Pacific Mall Faridabad, and DLF Epitome, Gurgaon, all while championing sustainability with a zero-emission delivery fleet.

Gaurav Pande, Executive Vice President & Business Head of Popeyes, India, said that Popeyes stands out for its authentic Cajun flavour and a rich legacy dating back to 1972. “Globally, long queues of chicken-loving enthusiasts are witnessed outside each new store, and a similar reaction is being seen in India as well,” he noted.

He further said that consumers in Delhi can now enjoy a variety of flavourful dishes like the world-famous Chicken Sandwich and newer innovations like the Hot & Messy range alongside vegetarian options. “The lip-smacking menu offerings will be backed by exceptional service, making for a memorable dining experience,” he said.

Continue Exploring: Popeyes set to sizzle North India’s taste buds with its first outlet in Mall of Faridabad

Rafael Odorizzi, President of Restaurant Brands International (RBI)’s Asia-Pacific region stated, “This first restaurant in Delhi will show guests our commitment and passion to serve only the best chicken. We can’t wait for guests at Popeyes to try the mouth-watering crunch of our juicy fried chicken.”

Additionally, he expressed confidence that the brand’s unique menu offerings catered to the local taste profiles will help build unforgettable memories that will make people fall in love with Popeyes over and over again.

JFL boasts a robust and expansive network comprising 1,928 Domino’s outlets spanning 407 cities. Additionally, the food service giant holds exclusive rights for Popeyes establishments in India, Bangladesh, Nepal, and Bhutan, as well as Dunkin’ eateries in India.

On January 31, JFL reported a standalone net profit of INR 65.8 crore for the December quarter, marking a decrease of 18.2 percent from INR 80.4 crore in the corresponding period of the previous year.

Continue Exploring: Popeyes spices up its menu: Wings now a permanent fixture with five tantalizing flavors!

Yum Restaurants India exits Devyani International, sells entire stake for INR 871 Crore

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SnackTeam

February 22, 2024

Yum Restaurants India on Wednesday sold its entire 4.4% stake in Devyani International for INR 871 crore through an open market transaction.

Devyani International, the Quick Service Restaurant (QSR) operator, is the franchisee for Yum Brands, which operates KFC, Pizza Hut and Taco Bell in India.

SBI Mutual Fund (MF), Axis MF, Franklin Templeton MF, Nippon India MF, HDFC Standard Life Insurance, Ghisallo Master Fund LP, the Singapore Government, Societe Generale, Goldman Sachs, and Morgan Stanley Asia Singapore were among the buyers of shares in Devyani International.

Continue Exploring: Devyani International surges 6% amid reports of block deal; Yum Restaurants likely seller

According to the block deal data available on the National Stock Exchange (NSE), Yum Restaurants India offloaded 5,30,83,330 shares, amounting to its 4.4% stake in Devyani International.

The shares were offloaded at an average price of INR 164.10 apiece, taking the transaction value to INR 871 crore.

At the end of December 2023, Yum Restaurants held over 5.30 crore shares, representing a 4.40% stake in Devyani International.

On Wednesday, shares of Devyani International rose by 1.24%, ending the day at INR 167.80 apiece on the NSE.

Continue Exploring: Indian appetite for pizzas and burgers wanes: Domino’s and McDonald’s franchisee results reflect decline in dining out trends

Scuzo Ice ‘O’ Magic expands into confectionery market, unveils new menu packed with delectable delights!

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SnackTeam

February 22, 2024

Witnessing remarkable growth, Scuzo Ice ‘O’ Magic, India’s First Live Popsicle Concept and Dessert Café, is now breaking new ground by expanding its menu and venturing into the confectionery market. This move promises to uphold the same level of quality, innovation, and taste that has become synonymous with the Scuzo Ice ‘O’ Magic brand.

Scuzo Ice ‘O’ Magic’s latest menu features a delightful variety of treats, including marshmallows, cookies, cheesecake, and tarts – all poised to become your new on-the-go favorites. Crafted with Scuzo’s dedication to natural ingredients, these delectable offerings are just the beginning. And here’s the exciting news: there’s even more deliciousness in store! Scuzo is gearing up to introduce additional tasty options, ensuring they remain your top choice for convenient and flavorful bites.

Continue Exploring: Scuzo Ice ‘O’ Magic unveils Noida’s first franchise outlet, marking its sixteenth milestone in India’s live popsicle concept!

Gagan Anand, Founder, Scuzo Ice ‘O’ Magic, said, We’re stepping into the confectionery market with a menu that reflects our commitment to natural indulgence. The Indian market provides various opportunities and tremendous growth potential, provided that the product gives true value for money. We have a well-equipped manufacturing unit that is continuously working on delivering the products according to the customer’s requirements. Marshmallows, cookies, cheesecake, and tarts are just the first taste of what’s to come. Scuzo has always been about more than just desserts; it’s a flavor-filled experience. As we expand, covering 20% of our menu with a variety of new treats, we’re ready to redefine convenience with a dash of delight. We have invested over 1 crore in our plant in the first phase of operations. Join us on this exciting adventure as we introduce a world of flavors that’s both easy and delicious!”

Continue Exploring: Reliance Consumer Products bolsters confectionery portfolio with acquisition of Ravalgaon’s assets for INR 27 Crore

Haldiram’s continues expansion in Hyderabad with inauguration of 10th QSR in Begumpet

SnackTeam

February 22, 2024

Haldiram’s, one of the most trusted and renowned brands in the Indian culinary landscape, has further solidified its presence in Hyderabad with the inauguration of a new Quick Service Restaurant (QSR) in the vibrant locale of Begumpet. Positioned strategically at Plot no. 6, S.P. Road circle in Sindhi colony, the newly-launched QSR opened its doors to the public following a grand inaugural ceremony.

The inauguration of the new restaurant represents a significant achievement for Haldiram’s as it extends its reach in Hyderabad, now boasting a total of 10 QSRs across the city. With the debut of its first QSR in the upscale Begumpet neighborhood, Haldiram’s has made its diverse culinary offerings more accessible to residents and office-goers in the vicinity. Among these offerings, the restaurant’s standout dish – the South Indian Thali, takes center stage. Priced at INR 299, this exclusive thali presents a tantalizing assortment of flavors, featuring Veg Korma, Beans Poriyal, Lemon Rice, Minute Made Rasam, South Indian Dahi Vada, Appalam, Poori, Curd Rice, and Gulab Jamun. Designed to entice the discerning tastes of the city’s diverse populace, this exquisite thali is sure to leave a lasting impression.

Continue Exploring: Haldiram’s Nagpur launches luxury chocolate brand ‘Cocobay’ catering to Indian taste buds

Neeraj Agrawal, Director of Haldiram Foods International Pvt Ltd, said, “Hyderabad remains a key market for Haldiram’s. It’s a city with a rich cultural heritage that combines influences from various parts of India and beyond. The city has a unique blend of traditions and culture that can be seen in its festivals, music, and cuisine. With that in mind, we bring together an experience that is a paradise for foodies and a cuisine that is as diverse as its culture. With a touch of the South in our traditional menu, we bring to our customers a specially curated ‘South Indian Thali’ to entice food enthusiasts in the city. This new QSR, our 10th in Hyderabad, not only caters to the diverse needs of our customers by elevating their dining experience but also strengthens our brand position across India and abroad.”

Renowned for its unwavering dedication to quality and flavor, Haldiram’s has been a beloved household name for generations, delivering an outstanding selection of snacks and delightful dishes. Remaining true to tradition while embracing innovation to cater to evolving consumer tastes, the brand continually endeavors to delight customers. This commitment to excellence and culinary delight echoes through its latest venture, the Begumpet QSR. Positioned as a premier destination for food connoisseurs in search of authentic flavors and unparalleled dining encounters, this establishment promises to set a new standard in gastronomic excellence.

Continue Exploring: Vegetarian thali gets costlier by 5%, non-veg thali witnesses 13% price decrease: Crisil Report

Agri-produce startup Indic Wisdom secures INR 4 Crore in pre-Series A funding led by Inflection Point Ventures

SnackTeam

February 22, 2024

Indic Wisdom, an agri-produce startup, has secured INR 4 crore in pre-Series A funding, with Inflection Point Ventures leading the round. Additionally, Mahendra Sankhe, Launch Capital, Bifco Finance, and several other High Net Worth Individuals (HNIs) participated in the investment.

The newly acquired funds will be used to enhance the brand’s visibility, expand its distribution network, and build production capacity toward increasing market presence and operational efficiency.

Established by Kaustubh Khare and Prajakta Khare, Indic Wisdom is a manufacturer of food staples, with a core focus on wood-pressed oils. It asserts its commitment to utilizing traditional methods of food preparation while consistently innovating and adhering to modern quality standards.

Inflection Point Ventures’ investment comes at a time when the global market for wood-pressed oil is anticipated to witness significant growth, with projections indicating an increase from $9.63 billion in 2022 to $18.61 billion by 2030, reflecting a compound annual growth rate (CAGR) of 8.57%.

“Conventional oils encounter issues concerning their quality, safety, nutrient content, and environmental impact. Choosing wood-pressed oils gives a healthier and more sustainable choice for both manufacturers and consumers,” said Rahul Wagh, Managing Director, Inflection Point Ventures.

“With the global wood-pressed oil market expected to grow from USD 9.63 billion in 2022 to USD 18.61 billion by 2030, at a compound annual growth rate (CAGR) of 8.57%, there’s a clear shift towards the healthier alternatives. This, with increasing awareness about the health concerns related to conventional oils, brings us here, to the right path that our ancestors paved,” Wagh added.

Continue Exploring: Former Swiggy executive Kedar Gokhale launches agritech venture ‘Orbit Farming’ targeting mid-sized Indian farmers

Indic Wisdom emphasized its unique positioning in the market, attributing it to its internal manufacturing capabilities, stringent quality control protocols, and financial robustness, underscored by its positive Profit After Tax (PAT) status maintained over the last four years.

The company’s diverse array of oils and extensive presence across multiple channels highlight its distinctive standing within the industry. Indic Wisdom, operating on a notable scale, extracts 70 thousand liters of oil per month, demonstrating its considerable production capacity, as stated by the company.

Prajakta Khare, Founder and Director of Indic Wisdom said that company aims to blend ancient wisdom and food production practices with modern production best practices and quality standards. With India’s stature on the rise globally and its manufacturing sector promising great potential, Indic Wisdom aspires to represent the best of India’s traditions, focusing on purity, accessibility, and sustainable growth.

“In an era when India is rising in stature in the world and our manufacturing is being looked at with great promise, we believe we can be the embodiment of India’s best traditions, promoting purity and accessibility of food, sustainable growth for ecosystems, and responsible conduct in society,” said Khare.

With estimates suggesting that the Cold Pressed Oil market in India will potentially reach an estimated INR 40,000 crores by 2030, and the global market projected to approach $30 billion by 2028, the company strategically aligns itself to address the rising consumer demand for healthier and more sustainable oil products.

Continue Exploring: Shilpa Shetty-backed agritech startup KisanKonnect secures INR 31 Crore in pre-series A funding led by Green Frontier Capital

Ghost Kitchens India secures $5 Million in series A funding to expand operations and launch retail stores

SnackTeam

February 22, 2024

Cloud kitchen startup Ghost Kitchens India has secured $5 million (around INR 41 crore) in its Series A funding round. The investment was spearheaded by GVFL (formerly Gujarat Venture Finance Ltd), with contributions from NB Ventures, LetsVenture, and Lead Angels.

Existing investors Yuj Ventures, Dholakia Ventures, and actor Rana Daggubati also participated in the funding round, which involves a mix of both equity and debt infusion.

The startup plans to utilize the new funds to expand its business operations and venture into retail stores for both its existing and upcoming brands. Additionally, the proceeds will be allocated towards enhancing the partner program and expanding the presence of company-owned and operated cloud kitchens and Quick Service Restaurants (QSR) stores.

Established in 2019 by Karan Tanna, Ghost Kitchens is a platform that provides a virtual restaurant network for food businesses. The platform aims to enhance incremental sales and improve margins by offering affordable, low-risk expansion opportunities. Additionally, it provides a complimentary tech platform to monitor sales and operational metrics, facilitating organic order growth.

The platform features various food brands such as Wakka Makka, SpeakBurgers By Chef Vicky Ratnani, New York Waffles, and Starboy Pizza.

Presently, it operates more than 15 self-owned and operated cloud kitchens in Mumbai and Ahmedabad, along with partnering with over 1,200 restaurants across 40 cities in India.

The startup’s food brands are available on food delivery apps Swiggy and Zomato, as stated by founder and CEO Tanna.

Continue Exploring: Cloud kitchen startup Kitchens@ secures $65 Million in Series C funding led by Finnest

With a focus on expanding both its in-house and partnership footprint, the startup aims to achieve an annualized revenue of around INR 200 Cr in the next two years.

Tanna said, “We have created 10X value for our earlier investors and we are sure to continue with this performance for new backers. We are excited for the coming years where we will focus on building iconic brands through customer loyalty and love for our food.”

In 2022, Ghost Kitchens India acquired the technology company WTF to develop proprietary technology for streamlined operations. Utilizing this in-house SaaS platform, the company aims to achieve profitability within the next 12-15 months by focusing on strengthening its flagship brands and forging new partnerships with celebrities.

Last year, it acquired SpeakBurgers for an undisclosed amount. With the acquisition, the startup plans to grow the partnership through 25 offline retail stores in the next 18-24 months.

Continue Exploring: Salad Days expands into Mumbai with first cloud kitchen launch in Chandivali; plans for aggressive growth across high-demand areas

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NewsHub

Ikea India streamlines operations, set to close R-City Mumbai store by mid-2024

Accessorize London bolsters e-commerce capabilities with Unicommerce integration

Magicpin integrates Domino’s Pizza into ONDC network, targets 1300+ stores in 45 days

California lifestyle apparel brand Dockers makes big bet on Indian market, plans five store openings in first year

Popeyes makes grand debut in Delhi’s Chandni Chowk, delighting chicken aficionados

Yum Restaurants India exits Devyani International, sells entire stake for INR 871 Crore

Scuzo Ice ‘O’ Magic expands into confectionery market, unveils new menu packed with delectable delights!

Haldiram’s continues expansion in Hyderabad with inauguration of 10th QSR in Begumpet

Agri-produce startup Indic Wisdom secures INR 4 Crore in pre-Series A funding led by Inflection Point Ventures