South Korean snack company Orion India has appointed actor Palak Tiwari as the brand ambassador for their salty product line Turtle Chips in India, as per a press release shared on Wednesday.
Tiwari was recently featured in the latest advertisement for Turtle Chips, highlighting the spicy flavor variant.
The spicy flavor, known as Spicy Devil Flavour, stands out as one of the company’s most popular offerings in the Indian market, according to the release.
“Within our Turtle Chips lineup, the Spicy Devil variant has successfully introduced the distinctive Korean spicy taste to the Indian chips market, garnering a considerable and dedicated fan base. The same goes true for the Mexican Lime flavour, a very distinct and international flavour,” said Saurabh Saith, chief executive officer, Orion India.
“As we aim to expand our market presence, we are very happy to share the appointment of Palak Tiwari as our brand ambassador; it’s a strategic move to enhance awareness, especially among the dynamic Indian youth,” he added.
Sharing her enthusiasm for the collaboration, Palak Tiwari said, “I am thrilled to be associated with Orion’s Turtle Chips. Filming the commercial for its popular Spicy Devil flavour Turtle Chips was an absolute blast. The energy and fun we had on set are clearly evident in the commercial, effectively conveying the brand attributes of being cheerful and quirky.”
The campaign has been launched across various multimedia platforms, including digital film, print, and radio, targeting key markets in India.
Producers of packaged foods and beverages are increasing their product supplies in Ayodhya and launching on-site marketing campaigns to take advantage of the anticipated increase in visitors to the pilgrimage town in northern India before the temple inauguration on January 22nd.
The bottled water brand Bisleri is boosting its supplies along all road routes to the city and important consumption hubs in Ayodhya. Additionally, the company is in the process of establishing a plant within the city, expected to be operational in the coming months.
“We are ensuring responsible consumption and disposal of used plastic in collaboration with municipal authorities. We have a new plant coming up in Ayodhya which will be operational in a few months,” said Angelo George, CEO, Bisleri International.
The seven-day religious ceremonies for the Ayodhya Ram Temple’s ‘Pran Pratistha’ event, which began on January 16 and will extend until January 22, are anticipated to attract a substantial number of attendees. Prime Minister Narendra Modi is scheduled to inaugurate the temple next week, likely resulting in hundreds of thousands of daily visitors by year-end. Companies are expressing expectations of increased religious tourism in the city, which has undergone recent infrastructure enhancements, including a modern airport and expanded roads.
Producers of packaged goods leverage such events to introduce new products and encourage trials for existing brands. These occasions also result in increased foot traffic, providing brands with the chance to execute on-site brand activations.
Parle Products, the packaged foods manufacturer, stated that the period leading up to the inauguration on January 22nd will be “significant.”
“We have significantly increased distribution across biscuits, confectionery and snacks across touch-points. Not just in Ayodhya, but even in nearby towns and cities. The company is also sampling brands across its portfolio,” said Krishnarao Buddha, senior category head, Parle Products.
Buddha compared the magnitude of the event to the Kumbh Mela, one of India’s largest religious gatherings, although the latter extends over a more extended period and experiences a more steady influx of pilgrims. Additionally, Parle has been a sponsor of “Ayodhya ki Ram Leela,” a two-hour play spanning 10 days for the past two years.
Dabur India, a domestic fast-moving consumer goods company, is expanding the distribution of its products in the city, anticipating an increase in demand for everyday essentials. The company is also allocating resources to on-site marketing initiatives, including the establishment of experience zones in the city for brands such as Real juices, Dabur Amla hair oil, and Dabur Vedic Tea, as stated by Mohit Malhotra, CEO of Dabur India Ltd. Dabur has formed partnerships with dhabas and eateries along the Lucknow, Gorakhpur, and Varanasi highways leading to Ayodhya. These establishments are being branded with key Dabur products like Hajmola and Real, accompanied by extensive sampling of the product range, according to a company spokesperson.
Coca-Cola, along with its bottling partners in the state, is enhancing the presence of vending machines in the region and collaborating with retailers to ensure sufficient stock of its smaller unit packs.
Approximately 50 reverse vending machines have been installed in the city, accompanied by supplementary infrastructure to guarantee round-the-clock service for retailers. The emphasis is also on providing an economical range of beverages priced at INR 10 and INR 20, according to a spokesperson.
Local convenience stores in the city are replenishing their stocks of puja samagri, including cotton wicks, ghee, oil, diyas, camphor, rice, wheat, honey, and other essentials, ahead of January 22. Kirana shop owners are also increasing their supplies of packaged sweets and chocolates, with 15% of retailers anticipating a surge in sales during the auspicious occasion. According to a survey by Kirana Club, a community of kirana owners, the third most stocked product at these stores in Ayodhya is chips and namkeens. Additionally, cold drinks, water, and personal care products like hair oil and soaps are among the other categories being boosted by local stores in the city.
Reliance Consumer Products, the fast-moving consumer products division of Reliance Retail, is expanding the distribution of its brands, including Independence bottled water, Campa fizzy drinks, and the snacking brand Alan’s Bugles, to further penetrate the Uttar Pradesh market.
Zomato, a major player in the food tech industry, aims to transition all its deliveries to electric vehicles (EVs) by 2033. This ambitious move is part of the company’s commitment to achieving net zero emissions throughout the entire food ordering and delivery value chain, aligning with its sustainability objectives.
The company announced its sustainability goals for the year 2030 on Wednesday during a conference on sustainability and inclusivity, organized by IndiaTech.org in collaboration with Zomato.
The Deepinder Goyal-led company’s sustainability goals are grounded in eight broad themes.
Zomato said it aims to support the growth of 3 Lakh micro, small, and medium-sized restaurant businesses and food entrepreneurs by 2030. Furthermore, the company aims to enhance the earning and saving capacity of one million gig workers through initiatives such as upskilling, partnerships, and benefit programs.
Other objectives involve achieving 100% plastic-neutral food delivery orders through voluntary recycling efforts and mobilizing resources to provide 300 million nutritious meals for underprivileged communities.
Commenting on these goals, Zomato’s chief sustainability officer Anjalli Ravi Kumar said, “Our visionary roadmap for 2030 signifies a significant stride towards a more sustainable and inclusive future. With a dedicated focus on eight material themes, this roadmap goes beyond the confines of food ordering and delivery, actively contributing to a world where every action leaves a positive imprint.”
With both central and state governments advocating the adoption of electric vehicles (EVs) to reduce carbon emissions, the sales of EVs have been increasing in the country over the past few years. Additionally, as environmental, social, and governance (ESG) norms gain prominence in global business practices, Indian startups are increasingly prioritizing initiatives such as reducing plastic usage and promoting EV adoption, among other sustainable practices.
Zomato has consistently advocated for the use of electric vehicles (EVs) in its delivery services and has forged numerous partnerships in recent years to electrify its delivery fleet. Last year, the company collaborated with Zypp Electric with the goal of deploying 100,000 electric scooters for deliveries by the year 2024.
It also entered into agreements with TVS Motors and SUN Mobility to roll out electric vehicle (EV) scooters for the gig workers on its platform.
Last year, Swiggy, Zomato’s rival, formed a partnership with the Taiwanese battery-swapping giant Gogoro to amplify the electrification of its delivery fleet. Concurrently, other tech companies like Flipkart and Amazon are also engaged in initiatives to electrify their last-mile delivery fleets.
Zomato’s shares concluded yesterday’s trading session 4.68% lower at INR 127.30 on the BSE.
Fat Phill’s, the Amsterdam-based smash burger brand, has recently signed a franchise agreement with Freshly Baked to expand its presence across the United Kingdom.
Initially, Freshly Baked aims to open three sites, ranging from 1,000 to 1,800 square feet, situated on busy high streets in Greater London. The goal is to launch a total of 100 sites within the next 10 years.
Established by Armin Vahabian in 2019, Fat Phill’s has rapidly grown to encompass 17 locations throughout the Netherlands, solidifying its status as the fastest-growing burger brand in the country.
The collaboration between Fat Phill’s and Freshly Baked, the master franchisee for the US-founded pretzel brand Auntie Anne’s, was orchestrated by Seeds Consulting, a food and beverage business developer, and franchise consultant.
“We are excited about partnering with Freshly Baked,” Vahabian says. “Their track-record as a master franchisee for Auntie Anne’s speaks for itself: they are structured to roll out and have a deep understanding of our sector and the franchise relationship.”
Seeds consulting director Matteo Frigeri added, “Fat Phill’s is not just a great restaurant concept; it works equally well as a franchise. It has delivered a competitive ROI and growth for all its current franchise partners, most of which are opening already their second or third location.”
Currently, Freshly Baked manages 38 Auntie Anne’s locations in the UK. In November of last year, the company renewed its Master Franchise Agreement with the US-based franchise Focus Brands for an additional 10 years and aims to ‘more than double’ its UK estate.
Swiggy, the Bengaluru-based food delivery giant, is planning to file its initial public offering by the end of this fiscal year.
The company plans to file the draft red herring prospectus with the Securities and Exchange Board of India by March-April. The size is yet to be decided and will be finalized days before the filing, according to two people familiar with the matter.
The potential offering might involve a combination of an offer-for-sale and a new issue, as stated by the individuals quoted above, who spoke on the condition of anonymity due to the non-public status of the details.
Swiggy’s Pre-IPO Placement Considerations
According to the first individual cited, the company may engage in pre-IPO placement activities between the filing of DRHP and RHP. Moreover, Prosus, a major player in the consumer internet sector with approximately 32% ownership of Swiggy, is contemplating a reduction in its stake through this issuance.
Invesco Inc., a U.S.-based investor, has seen the valuation of its investment in Bundl Technologies Pvt., the company behind the renowned food delivery service Swiggy, increase for the second consecutive time. This positive adjustment comes after experiencing two markdowns in the previous year.
According to a filing with the Securities and Exchange Commission by one of Invesco’s investment funds, the valuation of its approximately 2% stake in Swiggy rose to $147.6 million by the end of October 2023, an increase from $135.6 million in July 2023. This adjustment reflects a fair value of around $8 billion as of October 2023, compared to $7.85 billion previously.
Swiggy’s Profitable Milestone
In May, Swiggy’s CEO Sriharsha Majety announced that the food delivery business of the company had become profitable.
“As of March 2023, Swiggy’s food delivery business has turned profitable (after factoring in all corporate costs, excluding employee stock option costs)… Swiggy has become one of the very few global food delivery platforms to achieve profitability in less than nine years since its inception,” Majety wrote in a blog post then.
In contrast, Zomato Ltd., a listed competitor, achieved profitability for the second consecutive quarter in the period ending September 2023. As of Wednesday, it is valued at a market capitalization of INR 1.11 lakh crore on the BSE.
India is considering earmarking about 4 trillion rupees ($48 billion) for food and fertilizer subsidies in the next fiscal year, as indicated by two government sources quoted by Reuters. This move reflects fiscal caution ahead of the 2024 Lok Sabha elections.
In the ongoing fiscal year ending on March 31, India’s overall budget expenditure amounts to 45 trillion rupees, with roughly one-ninth originating from food and fertilizer subsidies.
The Ministry of Consumer Affairs, Food, and Public Distribution has indicated that the anticipated expenditure on food subsidies for 2019 is projected to reach 2.2 trillion rupees ($26.52 billion). This marks a 10% rise compared to the estimated spending of nearly 2 trillion rupees ($24.11 billion) in the ongoing fiscal year, 2023–24.
Furthermore, it is expected that the fertilizer subsidy for the forthcoming fiscal year will amount to 1.75 trillion rupees ($21.10 billion), as disclosed by an anonymous source. This figure is lower than the current projection of nearly 2 trillion rupees for the fiscal year 2022–2023.
Union Finance Minister Nirmala Sitharaman is set to unveil the interim budget for the fiscal year 2024-25 on February 1.
Anticipated to secure an unprecedented third term in the April and May elections, Prime Minister Narendra Modi would be faced with an unusual situation if the government maintains the current level of combined subsidies, especially considering the proximity of the national election.
Additionally, it is vital to control food and fertilizer subsidies as it plays a crucial role in managing India’s fiscal deficit. Modi’s government aims to keep the fiscal deficit at 5.9% of the gross domestic product this year and plans to reduce it by at least 50 basis points in the fiscal year 2024-25.
Given the Modi administration’s decision to extend its widely popular free food welfare program for an additional five years late last year, the cost of food subsidies is expected to increase in the upcoming year.
India runs the world’s most extensive food welfare program, a multi-billion dollar initiative that involves purchasing rice and wheat from millions of domestic farmers at state-set minimum or guaranteed prices. The acquired staples are then distributed free of charge to 800 million Indians, making it the largest such initiative globally.
Pret A Manger, the renowned British sandwich and coffee chain, has unveiled its first children’s menu in a bid to appeal to a younger audience and their families at its UK cafes.
The menu will target children aged four to ten and is set to be available in 70% of Pret’s 460 UK shops, with ongoing expansion planned throughout the year.
Pret’s new children’s menu features Kids’ Ham Triangle Sandwiches, incorporating the same Wiltshire cured ham found in Pret’s adult offerings but with thinner slices.
The Hummus and Cucumber pot has undergone a redesign, incorporating a separate container—a modification inspired by feedback from a kids’ tasting panel.
The menu includes Kids’ Cheese Triangle sandwiches, Kids’ Chicken and Cucumber Triangle sandwiches, a Kids’ Pizza Toastie, and a Kids’ Mango & Banana Yoghurt Pot.
The packaging showcases hand-drawn illustrations, and as an extra perk, children can enjoy a complimentary babycino with their meal.
The initiative is part of Pret’s broader strategy to diversify its customer base, responding to the pandemic’s impact. This period led to the closure of several sites in London, prompting Pret to expand beyond the capital through collaborations with franchise partners.
Established in London in 1986, Pret A Manger boasts a global presence with 700 shops worldwide.
Pret A Manger UK and Ireland managing director Clare Clough said, “Launching Pret’s first full kids’ range has long been a personal ambition and we’ve worked closely with our food development team, franchise partners and even our extended Pret family to create a menu we’re proud of, using the same high-quality ingredients found in several Pret classics that kids will love.
“It’s a major milestone within our transformation journey to bring Pret to a more diverse customer base across the country, from office workers to entire families and everyone in between.
“We felt it was the right time to expand our menu offer as we continue to focus our growth outside of London. We can’t wait to hear the feedback and are excited to create a new role for Pret within the lives of customers.”
In January 2024, Pret A Manger collaborated with the Indian delivery platform Swiggy to expand its presence in Mumbai and Delhi.
TABPS Pets, a pet food company, has secured a funding of INR 6.5 crore, attracting investments from renowned cricketers Hemang Badhani and KS Bharath, as well as other investors. The funds will be dedicated to bolstering production capacities, extending distribution networks, and channeling resources into research and development to introduce innovative products.
Established in 2021 by Prabhu Gandhikumar, Brindha Prabhu, Soumya Malani, and Arun Mukherjee, TABPS Pets is a Coimbatore-based pet food startup. The company distinguishes itself by incorporating Ayurvedic ingredients in the formulation of pet products, embracing a holistic approach to enhance pet nutrition and well-being.
Expressing the excitement about the successful fundraise, Brindha Prabhu, Founder and CEO of TABPS Pets, said, “We are thrilled to have received such overwhelming support from our investors, including the esteemed Hemang Badhani and K.S Bharath. This funding will play a pivotal role in propelling our mission to provide pet owners with high-quality, Ayurveda-powered products for their beloved companions.”
Investors Hemang Badhani and K.S Bharath also shared their enthusiasm for being part of TABPS Pets’ journey. “We believe in the company’s vision and dedication to pet well-being. TABPS Pets has showcased remarkable growth, and we are excited to be a part of their continued success,” said Hemang Badhani.
With the backing of prominent investors, including cricketers with a keen interest in the pet industry, TABPS Pets aims to strengthen its position in the market and continue delivering high-quality, Ayurvedic-infused pet products to meet the evolving needs of pet owners.
Customers in Bengaluru and Hyderabad are increasingly prioritizing their health and expressing a desire to explore healthier food choices, as indicated by a study conducted by Simpli Namdhari’s, an omnichannel retail chain specializing in food and vegetables.
Around 38% of customers in Bengaluru and 34% in Hyderabad express genuine concern about their health, showing a willingness to invest in premium, healthier food choices. Despite this, a lack of awareness regarding nutrition-rich foods is hindering their ability to reach their health objectives, according to the report.
64% of customers are oblivious to an array of exotic fruits and vegetables and their associated nutritional advantages. While 35% of customers in Bengaluru and 30% in Hyderabad perceive exotic foods as healthy. Additionally, nearly 40% of customers in Bengaluru and 27% in Hyderabad express a desire to opt for exotic produce in 2024.
The study, titled ‘Choose Goodness: A Comprehensive Analysis of Health-Conscious Grocery Choices in Bengaluru and Hyderabad,’ surveyed 34,000 customers in these cities in December 2023. It unveils insights into how customers intend to shop in 2024 and their perspectives on making healthy food choices.
In both Bengaluru and Hyderabad, there is a growing preference among customers for A2 milk, a type of cow’s milk that primarily lacks a certain form of β-casein proteins. This shift is attributed to the digestive discomfort associated with traditional milk consumption. A significant 70% of customers in Hyderabad and 55% in Bengaluru exhibit a strong inclination towards purchasing A2 dairy products, drawn by the purported health benefits.
Additionally, there is an increasing trend towards the preference for plant-based foods, with a 10% adoption rate in Bengaluru and 4% in Hyderabad.
In the aftermath of the pandemic, customer awareness and interest in immunity-boosting food have dwindled, as indicated by 65% of customers in Bengaluru and Hyderabad who report not purchasing such items. Despite an increasing concern for health, the report adds that only 13% choose millets and whole grains.
The survey findings also revealed a receptiveness to global culinary influences, with 52% of consumers in Bengaluru indicating a preference for imported and premium ingredients such as cheese, sourdough, spreads, etc., as opposed to Hyderabad’s 39%.
Presently, Simpli Namdhari’s has established a presence with over 30 strategically positioned stores in Bengaluru and Hyderabad, catering to a customer base surpassing 600,000.
Paytm E-commerce Private Limited (PEPL) has onboarded well-known restaurants, including Meghana Foods, Andhra Gunpowder, Leon’s, and Empire Restaurant in Bengaluru, as announced in a press release.
With this, the platform enables users to order food from these restaurants through the Paytm se ONDC network using the Paytm app, asserting discounts of up to 20 percent.
The platform aims to transform the dining experience for Bengaluru residents, read the release.
“The incorporation of food delivery services from premier restaurants in Bengaluru into our network signifies a noteworthy advancement amplifying our commitment to elevate everyday experiences to an extraordinary level,” said Paytm se ONDC spokesperson.
Backed by the Government of India, the Open Network of Digital Commerce (ONDC) has its presence in Delhi-NCR, Mumbai, Kolkata, Chennai, Kanchipuram, Hyderabad, Bagalkot, and Lucknow.
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