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Supreme Court directs ‘London Pride’ whisky maker to reconsider packaging amid trademark dispute with Pernod Ricard

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London Pride

The Supreme Court on Monday issued a directive to a company based in Madhya Pradesh, renowned for its production and sale of whisky under the trademark ‘London Pride.’ The court sought clarification on whether the company is amenable to altering the trade dress and color of its product, pointing out similarities with the well-known whiskies ‘Blenders Pride’ and ‘Imperial Blue’ from liquor major Pernod Ricard India Pvt Ltd. Presiding over the bench, Chief Justice D Y Chandrachud tasked senior advocate S Muralidhar, representing the ‘London Pride’ brand, with obtaining instructions and conveying the company’s response during the next hearing.

“Why have you (‘London Pride’) adopted the same trade dress and colour and all? Get instructions on whether you will change the trade dress and colour (visual appearance of a product),” the bench, also comprising Justices JB Pardiwala and Manoj Misra, said.

The apex court said it will hear arguments on the issue of trademark dispute on names at the next hearing.

The legal battle over the alleged infringement of trademark of the whisky brands witnessed an unusual sight in the Supreme Court on January 5 as liquor bottles were placed before the country’s highest court.

The top court was hearing a plea by liquor major Pernod Ricard India Pvt Ltd, which manufactures and sells ‘Blenders Pride’ and ‘Imperial Blue’ whisky, against last November’s verdict of the Madhya Pradesh High Court.

Continue Exploring: Supreme Court takes up Pernod Ricard trademark dispute for review

Pernod Ricard had approached the high court against an order passed by the commercial court, Indore, which rejected its application for issuance of temporary injunction. The firm had alleged infringement of their trade mark.

It told the high court it had registered the trade mark in respect of ‘Blenders Pride’ and ‘Imperial Blue’ and also has registered trade mark in respect of Seagram’s, which is their house mark and appears on their products sold under various brands.

It alleged that JK Enterprises has imitated their trade mark and is manufacturing and selling its whisky under the trade mark ‘London Pride’.

The high court had dismissed Pernod Ricard’s plea, saying the trial court had not committed any error in holding that no similarity was found in the mark of JK Enterprises which can be said to be such imitation of Pernod Ricard’s trade mark.

Pernod Ricard had argued before the high court that ‘Pride’ was the most essential and distinctive component of the mark ‘Blenders Pride’ which they have been using since 1995.

The firm had said they were also using another mark ‘Imperial Blue’ since 1997 and are selling whisky under the same in distinctive label, packaging and trade dress.

“The plaintiffs (Pernod Ricard) acquired knowledge that defendant is selling London Pride whisky which is deceptively similar to its Blenders Pride trade mark. The whisky of defendant is being sold by putting label, using packaging, getup and trade dress deceptively similar to Imperial Blue,” the high court had noted in its verdict.

The other side had said they were manufacturing and selling liquor in the brand name of ‘London Pride’ in Madhya Pradesh and the trademark ‘London Pride’ was entirely different in name, style and composition from any of the earlier registered trademarks.

The counsel appearing for the other side had argued before the high court that the overall comparison of the trademarks unmistakably showed that there was no similarity in them which may cause any confusion in the mind of a consumer while purchasing the whisky.

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Coffee prices surge as unseasonal rainfall, labor shortage, and surging urban youth demand drive up costs; Coffee Board of India forecasts 10-15% production drop

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Coffee
Coffee (Representative Image)

The rate at which coffee prices are rising has accelerated due to unseasonal rainfall, a scarcity of labor, and increased demand, particularly from urban youth, in the aftermath of the Covid-19 pandemic, according to experts.

“Torrential rains during off-season caused a lot of damage to coffee. To add to it, shortage of labour has also slowed down the harvest process,” said ND Jayaram, a large grower from Karnataka.

Due to unseasonal rainfall in the coffee-producing states, the Coffee Board of India anticipates that production will be 10-15% lower than the previous estimate of 367,000 tonnes.

In December 2023, coffee prices experienced a 16% inflation rate, marking the fourteenth consecutive month of double-digit inflation. In October, the inflation rate reached its peak at 16.9%, the highest level since 2015.

Continue Exploring: Indian coffee exports set to soar by 10% in 2024, fueled by global price rally and European demand

Industry executives attribute the rise in coffee prices to an expanding network of coffee chains, which has subsequently boosted demand.

“The demand for coffee has gone up significantly post-Covid compared to the pre-Covid era,” said KG Jagdeesha, CEO, Coffee Board of India.

Jagdeesha stated that even with elevated prices, the consumption of coffee remains unaffected. This is attributed to the rising disposable income among urban youths, coupled with an increased willingness to spend on coffee.

The surge in coffee prices has impacted traditional coffee-drinking communities, particularly in the southern region. Nevertheless, some individuals within these communities opt for a solution by blending chicory, a coffee substitute with a comparable flavor but lacking caffeine.

India stands as the eighth-largest producer of coffee globally, predominantly cultivating robusta beans utilized in the production of instant coffee. Additionally, the country produces some of the pricier arabica varieties.

In 2023, coffee exports experienced a 4.5% increase in value, reaching a record $1.16 billion. However, there was a decline in volume attributed to higher global prices. The Coffee Board of India reported that India exported around 396,346 tonnes of coffee, down from 413,942 tonnes the previous year.

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Prosus likely to have promoter status in Swiggy’s $1 billion IPO

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Swiggy
Swiggy

Prosus, the largest shareholder in Swiggy, is likely to be designated as a promoter for the upcoming initial public share sale of the online food and grocery delivery company, according to a report from ET. Sources familiar with the matter have indicated that the major sellers in this IPO will be the existing investors of Swiggy.

The Dutch-listed investment arm of the South African conglomerate Naspers has been actively seeking to decrease its stake in Swiggy, aiming to bring it below the current 33%. Despite ongoing talks with potential investors, these efforts have yet to achieve success. According to Indian regulations, holding a stake of 26% or more qualifies a shareholder as a promoter, leading to restrictions on post-IPO share sales.

As Swiggy gears up to file its draft IPO papers in the forthcoming months, sources indicate that the $1 billion IPO is anticipated to include a minimum of $600 million in an offer for sale by existing investors.

Continue Exploring: Swiggy may file IPO by fiscal year end, plans to raise capital with combination of offer-for-sale and new issue; Prosus contemplates stake reduction

Swiggy’s spokesperson opted not to comment, and an email directed to Prosus remained unanswered until the press time.

While Swiggy is in the process of preparing its IPO papers, insiders reveal that Boat, the New Delhi-based wearables and audio accessory brand, is contemplating a reconsideration of its plan to go public in 2024. This comes after Boat withdrew its draft red herring prospectus (DRHP) filed with the Securities and Exchange Board of India in 2022, citing challenging market conditions.

However, one of the sources mentioned that it still intends to proceed with a public share sale.

Several new-age companies are seeking to make their debut on the stock market, following a turbulent 12-18 months for technology-led startups on local exchanges. In recent weeks, FirstCry, Ola Electric, Mobikwik, and Unicommerce have submitted their draft IPO papers and are anticipated to go public later this year.

Swiggy aims to file draft IPO papers by the end of the current fiscal year, but the timeline could change, according to individuals familiar with the matter.

Continue Exploring: Preparations in full swing as Swiggy nears mega IPO launch later this year

“Prosus has been in talks with several investors to dilute the stake in Swiggy as part of a broader strategy to do secondaries (sale of shares) across portfolio firms, but it hasn’t worked out due to a valuation mismatch in Swiggy,” a person aware of the matter said.

Prosus, having invested around $1 billion in Swiggy, aims to shed the promoter tag to attain greater autonomy in managing the investment post the IPO.

SoftBank, with a 46% stake in the hospitality chain Oyo, also faces a similar situation. However, in the case of FirstCry, SoftBank reduced its holding to around 25.5% before the company filed the DRHP in December, from more than 30% at one point in time.

Boat, the audio-product maker, is scheduled to meet with investment bankers later this month to review its IPO plans.

“There is definite interest to relaunch the IPO as there is momentum in the market. They (Boat) will take a call on it soon,” a person aware of the matter said.

Aman Gupta, co-founder and Chief Marketing Officer of Boat, declined to comment on the matter.

In October 2022, it pulled back the DRHP after securing $60 million in funding.

Besides Gupta, Sameer Mehta, the other co-founder of Boat, also serves as its chief executive. He assumed this position after Vivek Gambhir was appointed chairman last year.

In 2022, Imagine Marketing, the parent company of Boat, submitted the DRHP to Sebi with the intention of raising INR 2,000 crore. This comprised a fresh issue of shares amounting to INR 900 crore and an offer for sale of shares valued at up to INR 1,100 crore.

Mobikwik is another firm that had initially postponed its IPO after filing its DRHP in July 2021. However, in a recent move, the company has refiled its draft papers with Sebi this month, aiming to raise INR 700 crore through a primary share sale.

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Concerns over cultivated meat echo in EU as Austria, France, and Italy unite against production

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Lab-grown meat

Austrian, French, and Italian delegations are set to oppose cultivated-meat production at the upcoming meeting of EU agriculture ministers taking place this week.

In a communication addressed to the Council of Ministers, the countries described the industry as a “threat to primary farm-based approaches.”

They also expressed concern that it jeopardized “authentic food production methods that form the core of the European farming model.”

“We recall that the EU has never delivered any authorisation on animal products based on cell cultivation techniques so far,” the delegations added.

“Hence, a transparent, science-based and comprehensive approach is necessary to assess the development of artificial cell-based meat production, which in our view does not constitute a sustainable alternative to primary farm-based production.”

The delegations of Czechia, Cyprus, Hungary, Luxembourg, Lithuania, Malta, Romania and Slovakia have supported the argument.

The note also asserts that cultivated food production “raises many questions that have to be thoroughly discussed between the member states, the Commission, stakeholders, and the general public” before it can be considered a viable method for producing food.

Some of the questions proposed revolve around ensuring the safety of lab-grown meat and addressing ways to prevent the creation of monopolies or oligopolies in the food market.

The document also expresses concerns regarding the “actual carbon footprint” of lab-grown meat and questions whether the process provides improved standards for animal welfare.

In a statement, Alex Holst, senior policy manager from the alternative proteins non-profit, the Good Food Institute Europe, said, “This non-binding statement spreads misinformation about cultivated meat and undermines Europe’s world-leading regulatory system.

“The EU’s Horizon programme and countries like Germany, Spain and the Netherlands have already invested in cultivated meat, recognising its potential to improve food security, reduce emissions, and satisfy growing demand for meat.

“Overhauling the gold standard Novel Foods regulatory process now is completely unnecessary, and risks preventing the EU from taking a leading role in this sector – just as the United States and China invest in cultivated meat to boost their economies and create future-proof jobs.”

In an interview with the European news site Euractiv, a diplomat described the action as “highly exaggerated and premature.”

“It’s a sector that does not yet exist, at this point it’s about innovation in a lab. Suppressing this now only hinders the kind of innovation that is precisely necessary for sustainability,” they said.

The note marks a new push against cultivated meat in Italy. Lawmakers in the country approved a ban on the manufacture, sale, and import of the product last November.

Continue Exploring: Italy becomes first EU country to prohibit cultivated meat production

Although the national Chamber of Deputies has accepted the bill, it still awaits the final approval from the EU.

To date, Singapore, the United States, and Israel stand as the only countries globally that have sanctioned the production of cultivated meat.

Last week, Israel became a recent addition to this roster by granting approval to Aleph Farms for its cultivated beef product, Petit Steak.

In 2020, regulatory approval was granted to Eat Just’s subsidiary, Good Meat, for its cultivated chicken in Singapore.

Last year, Eat Just and another U.S. entity, Upside Foods, secured approval to manufacture and market their cultivated chicken in the U.S. market.

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Metro Brands teams up with Nextail to revolutionize retail with AI-driven merchandising solutions

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Metro Brands

Footwear brand Metro Brands Ltd. has collaborated with the merchandise planning platform Nextail, as disclosed in a press release on Monday.

The collaboration involves integrating various AI-driven solutions into the company’s buying and merchandising functions, according to the press release. This initiative aims to enhance Metro Brands’ capabilities in ensuring product availability, hyper-local forecasting, and operational efficiency.

Nissan Joseph, chief executive officer, Metro Brands Ltd., said, “Our decision to partner with Nextail is based on their strong product vision and retail knowledge, but more importantly because of our shared ethos for leveraging cutting-edge solutions in favour of enhancing the customer experience.”

The Indian footwear sector is projected to grow from its current $26 billion to reach $90 billion by the year 2030.

“We are so proud to embark on this journey with Metro Brands Ltd., an iconic and respected name in the Indian retail landscape. Together, we aim to empower Metro Brands Ltd. to stay at the forefront of retail innovation in India and worldwide,” said Juan Avedillo, co-chief executive officer, Nextail.

Metro Brands operates more than 800 stores in over 180 cities across India and plans to open more than 200 additional stores by FY 2025.

Established by Joaquin Villalba and Juan Avedillo, Nextail, headquartered in Madrid, utilizes artificial intelligence and advanced technologies to offer merchandising planning services to fashion retailers.

In the third quarter concluding in December 2023, Metro Brands witnessed a 12.57% decrease in its combined net profit, amounting to INR 98.78 crore. This contrasts with the INR 112.99 crore net profit recorded in the corresponding October-December period of the previous year.

Continue Exploring: Indian footwear industry set for exponential growth, projected to reach $90 Billion by 2030: GTRI Report

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British menswear brand Charles Tyrwhitt debuts in India in collaboration with Reliance Brands, unveils first store in Ahmedabad

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Charles Tyrwhitt

Charles Tyrwhitt, the British multichannel men’s clothing retailer, has officially entered the Indian market through a collaboration with Reliance Brands, the retail division of Reliance Industries, as announced by an industry official on social media.

The brand’s first store is now operational at Palladium Mall in Ahmedabad, Gujarat.

“Charles Tyrwhitt arrived in India with the 1st store opening doors at Palladium Ahmedabad. Visit us to explore redefined premium men’s wear collection,” said Monil Gheewala, assistant vice president – leasing at The Phoenix Mills Ltd. in a LinkedIn post.

Charles Tyrwhitt was founded in 1986 as a mail-order company by Nicholas Charles Tyrwhitt Wheeler. The retailer now specializes in a range of products, including dress shirts, ties, suits, casual wear, shoes, and accessories.

Today, the company has established its presence in the United Kingdom, United States, France, and India.

Reliance Brands, a subsidiary of Reliance Retail Ventures Ltd, initiated its operations in 2007 with the goal of introducing and developing global brands in the luxury to premium segments of fashion and lifestyle.

The company has established long-term exclusive partnerships across various sectors, collaborating with renowned global and Indian brands such as Ritu Kumar, Bottega Veneta, Tiffany & Co., Valentino, Versace, Rahul Mishra, Armani, Balenciaga, Boss, and Zegna, among others.

Reliance Retail, along with its subsidiaries and affiliates under RRVL, operates an integrated omni-channel network comprising more than 18,650 stores and digital commerce platforms. This network spans grocery, consumer electronics, fashion, lifestyle, and pharmaceutical consumption categories.

In December 2023, RRVL reported a 31.87% increase in its net profit to Rs 3,165 crore for the third quarter of the fiscal year 2023-2024.

Continue Exploring: French fashion brand Maison Margiela marks its Indian debut in collaboration with Shoppers Stop and L’Oréal International Distribution

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Victoria’s Secret unveils its first beauty store in Mumbai

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Victoria's Secret

On Monday, Apparel Group India, the parent franchise of the American specialty retailer brand Victoria’s Secret, announced the opening of its first beauty store at Inorbit Mall in Malad, Mumbai, according to a post on social media.

“We are excited to present the opening of Victoria’s Secret Beauty store at Inorbit Mall Malad, Mumbai. This is the brand’s 1st beauty store in Mumbai and the 7th in India,” Apparel Group India said in a LinkedIn post.

Victoria’s Secret made its foray into the Indian market in 2021, establishing a foothold through a collaboration with Apparel Group India. Introducing itself initially through an e-commerce platform, the global chain featured a diverse array of products, ranging from fragrances to beauty and personal care items.

In the third quarter of the Financial Year 2023-24, Victoria’s Secret inaugurated more than four outlets. These comprised two establishments in Pune, and one each in Hyderabad and Bengaluru.

In 2022, Victoria’s Secret expanded its presence in India by inaugurating its initial brick-and-mortar outlet at Palladium Mall in Mumbai. Subsequently, a second store was opened at Ambience Mall in Vasant Kunj, New Delhi. In November 2023, marking a continued expansion, the brand introduced its first store in Pune at Phoenix Mall of the Millennium.

Founded in 1977 by brothers Roy and Gaye Raymond, Victoria’s Secret has grown into a prominent American retailer specializing in lingerie, clothing, and beauty products. According to its official website, the company now operates globally with around 1,360 retail stores situated in 70 countries.

Boasting an extensive network of over 2,025 stores spanning across more than 14 countries, the Apparel Group serves as the representative and marketer for a portfolio of over 80 brands. Among these are renowned names such as Beverly Hills Polo Club, Bath & Body Works, Tim Hortons, Tommy Hilfiger, Nine West, Call it Spring, Charles & Keith, Inglot, La Senza, and R&B Fashion.

Continue Exploring: Victoria’s Secret sets foot in Pune: Unveils its first store in Phoenix Mall

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Colgate-Palmolive reports 35.7% surge in net profit to INR 330.11 Crore in Q3 FY24

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Colgate Palmolive

In a regulatory filing on Monday, Colgate-Palmolive (India) announced a notable 35.7% increase in net profit after tax (PAT), reaching INR 330.11 crore for the quarter concluding on December 31, 2023. This marks a significant growth from the net PAT of INR 243.24 crore recorded for the corresponding quarter in the previous fiscal year.

As per the BSE filing, the company’s net sales for Q3 FY24 rose by 8.2% to INR 1,386 crore, contrasting with INR 1,281.21 crore reported in the corresponding period of the previous fiscal year.

Prabha Narasimhan, managing director and CEO of Colgate Palmolive said, “We are pleased with top-line growth for the quarter supported by the strong performance of our core equities. Profitability indicators are on an upward trend and we continue to enhance the investment support behind our brands.”

He further added, “Our current performance underscores the effectiveness of our strategy, focus on technology, securing the right talent, and efforts in governance and cost management. These initiatives have yielded consistent growth for the company, with our toothpaste segment achieving double-digit growth and positive volume expansion.”

Continue Exploring: Colgate-Palmolive sets sights on urban consumers, explores growth in premium oral care and personal care segments

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Healthy meal subscription platform The Kenko Life secures angel funding led by R Raghunathan, eyes expansion to Gurgaon and Hyderabad

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The Kenko Life
Neeraj Kumar & Vivek Chandran, Co-Founders, The Kenko Life

The Kenko Life, a food delivery platform focusing on health and macro-counted meals, has successfully concluded an angel funding round. The funding was led by R Raghunathan, the Co-Founder of Prizm Payment Services (now known as Hitachi Payment Services Private Limited) and OPC Asset Solutions.

The Kenko Life sets itself apart by delivering customized meals that prioritize individual protein, calorie, and macro requirements, all while emphasizing an exceptional taste experience.

Expert nutritionists at the startup curate personalized meal plans tailored to align with each customer’s health goals, offering continuous support throughout the journey. Kenko provides a variety of dietary options, such as carb-conscious, diabetes-friendly, vegetarian, non-vegetarian, multi-cuisine, and paleo plans, with durations spanning from one week to a month.

Established in 2020 by Neeraj Kumar and Vivek Chandran, The Kenko Life is currently exclusively available in Bangalore. The platform offers a varied menu featuring 100 delightful meal options from diverse cuisines. Customers have the flexibility to choose from lunch, dinner, or both, ensuring a month-long experience without repetition. The startup, operating on a subscription model through its website, serves over 200 meals daily in Bangalore. Additionally, it is accessible on-demand through Swiggy and Zomato.

Expressing enthusiasm about the recent investment, Co-Founder Vivek Chandran stated, “We are thrilled to announce that R Raghunathan, co-founder of Prizm Payment Services and OPC Asset Solutions, with a proven track record in building successful startups, has decided to invest in our company. Raghu brings over 30 years of experience in building and scaling both manufacturing and service-centric businesses. His involvement in our business is a testament to his belief in our vision and potential. We are excited to leverage his wisdom, network, and resources to propel our growth and achieve new milestones.”

Founder Neeraj Kumar added, “The Kenko Life envisions launching an app, securing funds, and expanding to Gurgaon and Hyderabad, leveraging our existing client base and local support. We currently serve around 200 plus meals a day across 100 pin codes in the city; plans also include establishing healthy cafes in two upcoming fitness clubs and at some corporate establishments.”

Continue Exploring: Health-conscious trend surges in Bengaluru and Hyderabad: Simpli Namdhari’s study reveals shift towards nutrient-rich foods in 2024

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Udaan undergoes executive leadership restructuring as Group CFO Aditya Pande resigns

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Udaan
Udaan

Udaan, the B2B e-commerce platform, announced senior-level organizational changes on Monday. As part of this restructuring, Kiran Thadimarri, previously the Group Finance Controller, has been elevated to the executive management team. His expanded role includes overseeing treasury, corporate finance, and corporate audit functions.

The company informed that Aditya Pande has decided to pursue opportunities outside of udaan, after a successful stint of over three years as Group CFO.

Also, Vishnu Menon, Head of Corporate Strategy and investor relations, will take on the additional responsibility of business finance, as part of the organisational changes.

The two executives — Menon and Thadimarri — will work towards further strengthening the financial and governance practices at udaan with the objective of enabling the company to achieve operational profitability and public market readiness in the next 12-18 months, according to a company release.

Announcing the organisational changes, udaan said these are in line with the company’s commitment to drive profitable growth and continue strengthening core capabilities.

As part of the organisational changes, Kiran Thadimarri, Group Finance Controller, will be elevated to be a part of the executive management team with additional responsibility of handling treasury operations, corporate finance and corporate audit, in addition to his existing responsibility of financial controller.

In his enhanced role, Thadimarri will report to the CEO.

The release mentioned that Thadimarri, a qualified Chartered Accountant, has been associated with udaan for close to three years.

Continue Exploring: B2B ecommerce unicorn Udaan sees drastic 50% valuation drop to $1.8 Billion in down round


In a career spanning two decades, Kiran graduated from GE’s premier leadership programmes, was CFO of GE Water, South Asia, has worked closely with Aditya Pande (outgoing Group CFO, udaan) at GE Healthcare during his 14-year stint at GE, and subsequently co-founded a healthcare technology distribution company.

Vishnu Menon, Head – Corporate Strategy & IR, takes on the additional responsibility of business finance, and will continue to report to the CEO.

Menon has been associated with udaan for the past four years. An MBA from IIM Calcutta with a degree in Engineering from the Kerala University, Menon in the past has worked as a management consultant with Bain & Co and was also the Founder & CEO of Wandertrails, an experiential travel startup.

Informing about Aditya Pande’s exit, after a successful stint of over three years as Group CFO, the company said as he transitions, the solid foundation laid during his tenure will enable udaan to tap future growth opportunities, capitalise on scale, and leverage cost synergies.

“During his tenure, Aditya played a pivotal role in shaping udaan’s financial strategy marked by strategic financial decision-making, implementation of resilient financial systems, successful fund raising and a razor-sharp focus on fiscal management,” the release said.

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