Amcor and Mondelēz International collaborate to introduce recycled plastic packaging for Cadbury Chocolate products

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February 6, 2024

Amcor, a prominent developer and producer of sustainable packaging solutions, has entered into an agreement with Mondelēz International. Under this deal, Amcor will supply 1,000 tons of post-consumer recycled plastic for wrapping Mondelēz’s flagship Cadbury chocolate products. This collaboration signifies a significant step towards Cadbury’s goal of minimizing its reliance on virgin plastic materials.

In 2022, Cadbury announced that it had sourced 30% of the plastic required to wrap its 160g to 185g Cadbury Dairy Milk family blocks produced in Australia from recycled sources, on a mass balance basis. With its recent procurement, Cadbury is striving to increase its usage of recycled plastic to 50% across its range of chocolate blocks, bars, and pieces produced in Australia, also on a mass balance basis. This initiative is aimed at effectively halving the company’s reliance on virgin plastic for packaging these products.

The rollout of recycled material is slated to commence in the first quarter of 2024, kicking off with blocks and then expanding to encompass beloved bar lines like Cherry Ripe, Crunchie, and Twirl, as well as wrappers for Roses and Favourites assortments.

Continue Exploring: Mondelez International reports strong Q4 sales surge, but volume decline spurs a 2% share drop

This comes shortly after Mondelēz International, the custodian of Cadbury, unveiled its longer-term vision to recycle plastic waste domestically. Partnering with Amcor, they have announced plans to invest in Licella to fund the construction of one of Australia’s first soft plastic advanced recycling facilities. Managed by Advanced Recycling Victoria (ARV), the new facility in Melbourne is slated for completion in 2025. Initially, it will process around 20,000 tons per annum of end-of-life plastic, with aspirations to scale up to approximately 120,000 tons per annum.

Mike Cash, President of Amcor Flexibles Asia Pacific stated that he’s proud to continue to support Mondelēz International as they strive to be the most sustainable snacking company in Australia and New Zealand. “We partnered with Mondelēz when they made the first step to move to recycled content for their Cadbury Dairy Milk family blocks packaging, now we’re helping them elevate this ambition by sourcing ~1,000 tons of recycled plastic to help reduce virgin material across more of the Cadbury chocolate portfolio.”

Adding further, Mike Cash stated, “Being able to source this significant volume of recycled material for Mondelēz gives them the opportunity to differentiate and grow, and demonstrates the collective commitment of Mondelez’s leadership.”

According to Darren O’Brien, President – Mondelēz International Australia, New Zealand and Japan, “Reducing virgin plastic use and supporting a circular packaging economy is a focus for our business and this latest deal to purchase recycled plastic is another important step in our journey. By creating confidence in the market for recycled material, we’re helping to build a future for plastic recycling in this country.”

“Chocolate lovers love Cadbury Dairy Milk for its generous ‘glass and a half’ slogan, but when it comes to virgin plastic in our packaging, less is more. By halving our virgin plastic needs in our Cadbury chocolate blocks, bars and pieces portfolio, we are on a path to better packaging.”

Continue Exploring: Archies and Mondelez India join forces to sweeten Valentine’s season with exclusive collaboration

Malabar Gold & Diamonds makes landmark entry into Australian market, opens flagship showroom in Sydney

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February 6, 2024

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Kerala-based jewellery retailer Malabar Gold & Diamonds has ventured into Australia with the opening of its new showroom in Sydney. This marks the expansion of the company into its 13th country of operations, according to a press release issued on Tuesday.

The retailer asserts its position as the first Indian international jewellery brand to begin operations in Australia.

Located at 109 Wigram Street in Harris Park within the Little India Precinct, the new outlet is poised to be the largest jewellery showroom in Sydney. It was inaugurated by former Australian cricketer Brett Lee, adding a touch of prestige to the occasion.

“This is a proud moment for us as the first Indian International jewellery retailer to begin operations in Australia. We have been a strong proponent of ‘Make in India; Market to the World’, showcasing the artistry of Indian jewellery on a global stage and expanding into Australia is another testimony of our commitment to this initiative,” said M.P Ahammed, chairman of Malabar Gold & Diamonds.

“This is also a great success story leveraging the strong trade relationship and recent bi-lateral free trade agreement between Australia and India. Our growth plan in Australia will lead to significant investments into jobs and local economy in Australia over the next few years,” added Ahammed.

Featuring a diverse range of jewellery crafted in 18K and 22K gold, as well as diamonds, the showroom will display a stunning array of over 30,000 designs spanning bridal wear, daily wear, and occasional wear. Additionally, the store offers a bespoke jewellery design service supported by skilled designers and craftsmen.

Continue Exploring: Fashion jewellery brand salty secures INR 5.4 Crore for team expansion and product innovation

“With a large diaspora of immigrants from the Indian sub-continent, the jewellery sector in Australia remains a largely untapped one. Marking a significant shift in the country’s jewellery landscape, we aim to leverage our experience of over 30 years to bring forth an exceptional array of gold, diamond & precious gem jewellery,” said Shamlal Ahamed, managing director – international operations at Malabar Gold & Diamonds.

Presently, the brand boasts a retail network comprising more than 340 showrooms across various regions including India, the United Arab Emirates, Qatar, Kuwait, Oman, the Kingdom of Saudi Arabia (KSA), Bahrain, Singapore, Malaysia, the USA, the UK, Canada, and Australia. Furthermore, it is actively pursuing expansion into emerging markets such as South Africa, Egypt, Bangladesh, Turkey, and New Zealand.

“Malabar Gold & Diamonds is making remarkable progress in both the international and Indian jewelry sectors, gaining substantial momentum. The brand’s strategic global expansion into new countries and within Indian states such as Rajasthan, Puducherry, Uttarakhand, Jharkhand, Goa, Assam, Tripura, and Jammu & Kashmir is poised to elevate it to the coveted No. 1 position” said Asher O, managing director – India operations at Malabar Gold & Diamonds.

Founded in 1993, the jewellery retailer stands as the cornerstone of the Malabar Group. Boasting an impressive annual turnover of $5.2 billion, the brand has established a presence in 12 countries, complemented by numerous offices, design centers, procurement centers, and factories.

Continue Exploring: Jewellery consumption set for 10-12% value growth in FY24, driven by soaring gold prices: ICRA

Marks & Spencer’s food retail arm continues strong sales streak, challenges leading grocers in UK

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February 6, 2024

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UK industry data released on Tuesday indicated that Marks & Spencer’s food retail arm continued to capitalize on the strong sales momentum of 2023, carrying it into the early weeks of the new year.

According to market researcher NIQ, Marks & Spencer’s grocery sales surged by 11.6% year-on-year in the 12 weeks leading up to January 27, placing it second only to Lidl, a German-owned discounter, which experienced a 13.2% increase and is hailed as Britain’s fastest-growing grocer.

The leading market player, Tesco, recorded a sales growth of 6.9%, whereas Sainsbury’s, holding the second position, achieved a growth of 8.4%.

Continue Exploring: UK retail giant Tesco revises profit forecast following strong Christmas sales performance

Asda and Morrisons were once again among the laggards, with sales growth of 2.7% and 3.4% respectively, as shown by the data.

During the four-week period ending on January 27, UK supermarkets experienced a 6.6% year-on-year increase in total sales, as reported by NIQ. Meanwhile, food inflation stood at 6.1%, marking its lowest rate since June 2022.

Echoing the data from rival market researcher Kantar last week, NIQ stated that promotional activity accounted for 23% of sales, down from 26% over Christmas.

Furthermore, it noted that online grocery retained its share of 11.2% of the total grocery expenditure.

On a separate note, Tuesday’s data from the British Retail Consortium revealed that retailers experienced sluggish overall sales in January, reflecting consumer caution towards spending. This underscores the impact of high inflation and borrowing costs, which are placing pressure on households.

Continue Exploring: UK grocery costs remain 30% higher than two years ago despite ongoing inflation easing

Tata Neu joins online food delivery race through ONDC integration, posing competition to Zomato and Swiggy

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February 6, 2024

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Tata Group is set to make its foray into online food ordering through its super app Tata Neu, utilizing the Open Network for Digital Commerce (ONDC), as reported by MoneyControl.

The salt-to-steel conglomerate is gearing up for closed-user group trials in the next few days, as reported. However, it may take another month or longer before the feature is available to the public.

According to reports, Gaurav Porwal, Senior Vice President at Tata Digital, is leading the ONDC project.

In April 2022, Tata Neu was introduced as the digital platform encompassing Tata Group’s range of consumer brands, including BigBasket for online groceries, Croma for electronics, Tata CliQ for fashion, 1MG for e-pharmacy, Starbucks for coffee, and the group’s budget airline, formerly AirAsia, now rebranded as AIX Connect.

The 155-year-old conglomerate is poised to enter into competition with the new-age foodtech unicorns Zomato and Swiggy, reportedly dominating 95% of the online food delivery market. The objective is to establish a ‘high-frequency use case,’ encouraging consumers to engage with the app regularly, according to reports.

Continue Exploring: ONDC disrupts food delivery landscape: 50,000 restaurants join platform, challenging Zomato and Swiggy dominance

Several major super apps, such as China’s WeChat or Gojek, have a central offering, such as instant messaging or ride-hailing, around which additional services are integrated.

Following the introduction of ONDC, numerous players like the hyperlocal commerce platform Magicpin and PhonePe’s Pincode have begun offering food delivery services. In May last year, Magicpin announced that it was handling up to 20,000 orders daily.

ONDC facilitates interactions among various participants in the e-commerce ecosystem, such as buyers, sellers, service providers, and intermediaries, enabling them to collaborate in fulfilling business needs.

Tata Neu will function as the business-to-consumer interface within ONDC, serving as a buyer-side application. This approach eliminates the necessity of managing a fleet of delivery riders or negotiating with restaurants to join the platform.

Continue Exploring: ONDC network live in 500 towns & cities, MoS Commerce affirms full adherence to e-commerce regulations

Nykaa continues strong growth trajectory: Q3 net profit doubles YoY to INR 17.4 Cr

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February 6, 2024

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Nykaa, a prominent player in the beauty and fashion e-commerce sector, witnessed a significant surge in its consolidated net profit during the December quarter (Q3) of the fiscal year 2023-24 (FY24). The company’s net profit more than doubled, reaching INR 17.4 Cr compared to INR 8.5 Cr in the corresponding quarter of the previous year. This remarkable growth was attributed to the steady enhancement of its fashion segment, particularly during the festive period.

The net profit also experienced a significant increase of 123.7% on a quarter-on-quarter (QoQ) basis, rising from INR 7.8 Cr in the previous fiscal quarter, Q2 FY24.

The operating revenue saw a 22% growth, reaching INR 1,788.8 Cr in the current quarter compared to INR 1,462.8 Cr reported in Q3 FY23.

During the third quarter of fiscal year 2024, the company reported a 5.5% expansion in its EBITDA margin, with EBITDA increasing by 26% year-on-year to INR 98.8 Cr, attributed to enhancements in both direct and indirect cost efficiencies, as stated by the company.

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Nykaa announced in a statement that it implemented an ESOP grant targeting critical and top talent across various organizational levels during the quarter. This initiative is currently reflected in the company’s employee expenses. If adjusted for ESOP and new business expenses, the company’s EBITDA margin would have stood at 6.1%.

In Q3 FY2024, the business experienced a 29% year-on-year increase in gross merchandise value (GMV), totaling INR 3,619.4 Cr.

The company reported a 25% year-on-year growth in consolidated gross merchandise value (GMV) within the beauty and personal care (BPC) segment. Additionally, the GMV of Nykaa’s fashion vertical surged by 40% year-on-year.

“Our fashion business is showing consistent improvement in profitability, reflecting our platform strength and quality of our customers,” said Nykaa.

Continue Exploring: Nykaa’s fashion vertical takes the lead with anticipated 40% YoY GMV growth in Q3 FY24

Nykaa Fashion’s contribution margin as a percentage of net sales value (NSV) improved by 510 basis points, reaching 6% in Q3 FY24, compared to 0.9% in the same quarter of the previous year.

Delhi HC orders panel to probe alleged non-veg ingredients in Patanjali toothpaste, seeks recommendations in 10 weeks

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February 6, 2024

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The Delhi High Court has directed a committee appointed by the Ministry of Ayush to establish the guidelines for classifying raw materials utilized in drug manufacturing as either vegetarian, non-vegetarian, or falling under other categories.

The court directive, issued on February 2, was prompted by a petition alleging the presence of non-vegetarian components in Patanjali’s Divya Manjan toothpaste.

The petition, submitted by attorney Yatin Sharma, contends that Patanjali is marketing ‘Divya Manjan’ with a green dot on their official website, despite it containing non-vegetarian ingredients. The petition calls for stringent measures against the company for neglecting to indicate the red mark, thereby misleading, unduly influencing, offending religious sentiments, deceiving, misrepresenting, and defrauding their customers.

Sharma lodged the petition in July last year and was instructed to address the relevant authorities accordingly. In response, the lawyer filed a complaint with the Ministry of Ayush on July 23, 2023, prompting the ministry to suggest the formation of a committee to establish guidelines for classifying raw materials employed in drug manufacturing as either vegetarian, non-vegetarian, or falling under other categories.

Continue Exploring: Patanjali Ayurved faces govt scrutiny as PMO directs Ministry of Ayush to address deceptive advertising complaints

In the interim, the court has allotted the committee formed by the ministry a period of 10 weeks to formulate its recommendations.

It’s worth noting that the Supreme Court recently directed Patanjali Ayurved to refrain from publishing misleading claims and advertisements disparaging modern medical systems. The court warned of imposing a fine of INR 1 crore on each product for making false claims suggesting it can cure specific ailments.

Continue Exploring: SC warns Patanjali over ‘false’ advertising claims

During a hearing on a petition filed by the Indian Medical Association (IMA) last November, a bench comprising justices Ahsanuddin Amanullah and Prashant Kumar Mishra verbally cautioned against Patanjali Ayurved’s misleading advertisements, emphasizing the gravity of any such transgressions.

Earlier, on August 23, 2022, notices were issued by the Supreme Court to the Union Health Ministry, the Ministry of Ayush, and Patanjali Ayurved Ltd., following an IMA plea alleging a smear campaign by Ramdev against the vaccination drive and modern medicines.

During these proceedings, Ramdev was strongly rebuked by the court for his criticism of allopathy and allopathic practitioners, asserting the necessity of restraining him from disparaging doctors and other treatment modalities.

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

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February 6, 2024

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In an era where time is of the essence, IGP.com, the international gifts platform, makes a groundbreaking stride in the Indian retail landscape. With the introduction of its 30-minute instant delivery service, it not only sets a new benchmark for swift gifting experiences but also aims to redefine the dynamics of connections, ensuring seamless and memorable moments between gift giver and receiver.

IGP.com, renowned for its efficient same-day and scheduled deliveries across 400+ cities in India, further solidifies its dedication to swift service by introducing a lightning-fast 30-minute delivery option. Named “Your gift, their smile – Experience instant bliss with 30-minute delivery,” this initiative encompasses over 250 SKUs, accessible across more than 2000 pin codes, underscoring the platform’s unwavering commitment to instant joy.

This achievement is made possible by a sturdy logistics framework, orchestrated through three central warehouses strategically located alongside over 50 dark stores. This careful arrangement guarantees swift and punctual deliveries, transforming the 24/7 super instant delivery pledge from mere commitment into a tangible experience.

Tarun Joshi, the CEO and Co-Founder of IGP said, “We are thrilled to introduce the 30-minute instant delivery service, a testament to our commitment to enriching relationships through prompt and delightful gifting experiences. At IGP.com, we believe in creating moments of joy, and this service is designed to make those moments even more special, ensuring your gift brings an instant smile to your loved ones.”

As IGP.com bolsters its offerings in the Indian market, it has concurrently embarked on a global expansion journey, establishing operations in Dubai. This strategic step highlights the platform’s unwavering commitment to spreading happiness worldwide, fostering a harmonious celebration of love and joy across borders. With its ongoing innovation and global expansion efforts, IGP.com is poised to deliver unparalleled gifting experiences that transcend geographical constraints, delighting customers around the globe.

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

Ajeenkya DY Patil University brings Young Chef Young Waiter Competition 2024 to India, fostering next-gen hospitality stars

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February 6, 2024

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Dr Robert Walton MBE, Chairman and President of the Restaurant Association UK and Mr Sean Valentine, Managing Director, World Young Chef Young Waiter

Ajeenkya DY Patil University (ADYPU), renowned for its commitment to cultivating budding talents through top-tier education, organized the inauguration of the highly esteemed Young Chef Young Waiter (YCYW) 2024 in Mumbai on January 18, 2024. With a legacy of fostering and motivating the global hospitality sector for more than forty years, this competition marks its debut in India, promising an exciting milestone for the industry.

Launched in 1979 in the UK through collaboration with UK Hospitality and the Restaurant Association, the competition aimed to elevate hospitality as a preferred career path. With unwavering support from industry professionals, it has thrived for over 45 years.

Dr Robert Walton MBE, Chairman and President of the Restaurant Association UK, said, “The Young Chef Young Waiter competition has a storied history of discovering and celebrating talent in the hospitality industry. Hosting this event at Ajeenkya DY Patil University adds a new and exciting dimension, especially as we resonate with the university’s dedication to encouraging out-of-the box thinking. We keenly await new flavours and experiences from India.”

Adding to this, Sean Valentine, Managing Director, World Young Chef Young Waiter, said, “The YCYW competition will be the perfect launchpad for young Indian talent to build global networks and learn from the very best. We want to spotlight India as a rising giant in hospitality excellence.”

The alignment of values between the university and the Young Chef, Young Waiter competition is remarkable. Both entities prioritize creativity, forward-thinking, and a proactive approach, aiming to foster talent and inspire young individuals to explore careers in culinary arts and hospitality. Through the competition, the goal is to facilitate the professional development of aspiring chefs and service personnel by challenging their abilities in high-pressure scenarios and providing opportunities for learning from global industry experts.

Continue Exploring: HRAWI and Ingram Micro collaborate to drive digital transformation in hospitality sector

Dr Ajeenkya DY Patil, President, Ajeenkya DY Patil University and Chairman, Ajeenkya DY Patil Group said, “We are thrilled to host the YCYW competition and join in the celebration of the rising stars in India’s vibrant hospitality segment. By providing a global platform for young talent, we hope to spotlight Indian culinary arts and service excellence while inspiring wider interest in this industry. We are proud to be associated with this initiative, and we look forward to seeing the extraordinary skills that young professionals will bring to the table.”

The judging panel for the competition will consist of Chef Mario Perara and Chef Cyrus Todiwala, both renowned figures in their respective domains. The event will start with an initial review of applications, leading to the India Finals, and ultimately culminating in the finalists vying for victory on the global stage.

Celebrity chef Cyrus Todiwala OBE DL, Café Spice, United Kingdom, said, “Indian cuisine and service standards have made their mark globally. In fact, the country has seen praiseworthy growth in culinary excellence and service standards in the last decade. We are delighted to bring this global competition to India to celebrate the immense potential of local talent on the world stage.”

“I’m thrilled to judge the creative talents of India’s next generation of hospitality heroes. This is a great opportunity for them to show the world that they have what it takes to leave a mark on the hospitality industry worldwide,” added Celebrity Chef Mario Pereira, Executive Chef, The Dorchester.

Continue Exploring: India’s hospitality industry toasts to 2024 with high hopes and record-breaking revenue growth

NielsenIQ forecasts 4.5-6.5% growth for FMCG sector in FY24; volume surges by 6.4% in Q4 2023 as urban-rural gap narrows

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February 6, 2024

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The fast-moving consumer goods (FMCG) sector in India experienced a 6% growth in value and a 6.4% growth in volume during the October-December quarter, reflecting a year-on-year increase in demand nationwide.

According to NielsenIQ‘s quarterly update, volume growth for the quarter increased by 6.1% compared to the same period last year. Additionally, in 2023, the consumption gap between urban and rural markets narrowed for the first time, as reported by the researcher.

NielsenIQ forecasts a growth of 4.5-6.5% for the FMCG market in FY24, indicating the industry’s adeptness in navigating complexities and adjusting to changing market dynamics.

Continue Exploring: Indian FMCG sector eyes robust growth in 2024 amidst favorable market conditions

Roosevelt Dsouza, head of customer success – India, NielsenIQ said, “The favourable interim Union Budget 2024-25, and several economic boosters for the rural sector, should augur well for companies with a rural strategy.”

Rural markets experienced a growth of 5.8%, whereas urban markets saw a higher growth of 6.8%. However, in sequential terms, rural markets exhibited a volume slowdown. India’s villages account for more than a third of the yearly sales of FMCG companies, underscoring their significance in revitalizing the sector.

Consumption in non-food categories surged by 8.7%, outpacing the growth in food categories, which stood at 3.8%.

Although experiencing a decrease in sequential quarters, the narrative of rural recovery continued to progress steadily throughout the year. In the fourth quarter of 2023, there was an increase in consumption, predominantly propelled by habit-forming categories like biscuits and noodles in food, along with essential home products.

“These categories have thrived despite flat to negative price growth, indicating resilience and sustained demand,” the researcher said.

Continue Exploring: FMCG firms optimistic about rural recovery amid macroeconomic improvements

Modern trade continued to sustain robust double-digit growth at 16.8%, while Traditional Trade witnessed a decline, posting a growth rate of 5.3% in the quarter, down from 7.5% in the previous quarter.

“Despite certain challenges, the positive momentum in modern trade adds a promising dimension to the overall market scenario,” the researcher said.

In urban markets, average pack sizes continue to show a positive trend, albeit with a consistent preference for larger packs. Conversely, in rural areas, there’s an emerging inclination towards larger pack sizes, indicating a path of recovery.

According to NielsenIQ, smaller manufacturers are experiencing greater volume growth rates in non-food categories compared to larger manufacturers, while the trend reverses in food categories.

Govt pushes for Indian toy sector expansion with Snapdeal, Walmart collaborations

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February 6, 2024

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The government announced on Monday that tie-ups between domestic toy makers and “internationally acclaimed big players” including Snapdeal and Walmart are in the pipeline, asserting that the sector is poised for success in the future.

The statement comes amidst Indian toy makers receiving orders above $10 million at a five-day international toy fair in Germany.

“While the domestic manufacturers have already experienced success in Germany, tie-ups with internationally acclaimed big players including Snapdeal and Walmart is in the pipeline,” the commerce and industry ministry said in a statement.

Continue Exploring: Toys ‘R’ Us bets big on Indian market, eyes top five position within 4-5 years

The exporters reported that buyers from nations including the US, the UK, South Africa, and Germany expressed keen interest in their products and made substantial orders during the Nuremberg fair, which took place from January 30 to February 3. India had over 55 participants at the event.

“The Indian toy sector is growing at a healthy rate and competing with global players. Among the most popular categories at the fair were those pertaining to wooden toys and educational learning toys,” the ministry said.

According to the statement, initiatives led by the Department for Promotion of Industry and Internal Trade such as enforcing mandatory quality standards, raising customs duties, and implementing a National Action Plan on Toys have contributed to the production of top-notch products that garnered recognition on the global stage.

The domestic manufacturers at the fair observed a notable shift in the approach and behavior of buyers.

“India is now being recognised as a lucrative alternative sourcing destination,” the ministry said, adding that the show has opened the doors for international joint ventures.

In 2022-23, India’s toy exports surged to $325.72 million from $96.17 million in 2014-15. Conversely, imports witnessed a 52% decline to $158.7 million in 2022-23 from $332.55 million in 2014-15.

Continue Exploring: Walmart targets $10 Billion annual exports from India, with toys taking center stage

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