Marriott International aims for record-breaking 2024 in India with plans to expand portfolio to 250 hotels

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January 13, 2024

Marriott International, the world’s largest hotel chain by the number of rooms, anticipates yet another potentially record-breaking year for the company in India in 2024. This optimistic outlook is driven by strong demand in both leisure and business travel, coinciding with the company’s plans to introduce new brands in the country.

Ranju Alex, the Area Vice President for South Asia at Marriott International, said in an interview that the company is progressing as planned to enhance its portfolio in India to 250 hotels by 2025. This encompasses both currently operational and upcoming properties.

The US-based company, last year, projected that its revenues from Indian operations would surpass $1 billion in 2023.

“We have broken a lot of records and milestones in 2023 and we are expecting 2024 to be another record year. We are riding the India wave, and we are continuing with our very positive growth strategy. We are well within our commitment to be at 250 hotels by 2025, including operational hotels and those in the pipeline,” Alex said.

She refrained from revealing the financial performance of Marriott in India for the year 2023.

Moxy: Marriott International’s Disruptive Brand

“The economy is growing at a very fast pace here. We are seeing a lot of interest for our brands that are not there in India, and our owners want to debut those brands. For instance, the Moxy brand that will make its debut in South Asia this month, with the new Moxy hotel in Bengaluru. We are seeing a lot of interest for brands such as the Autograph Collection and EDITION. A lot of brands are on the threshold of entering India,” she added.

On Monday, Marriott is set to inaugurate the Moxy Bengaluru Airport Prestige Tech Cloud hotel, with the Moxy Mumbai Andheri West scheduled to open later this year. The upcoming additions to the Moxy pipeline comprise the Moxy Chennai OMR and the Moxy Bengaluru Sarjapur. Presently, Marriott oversees approximately 125 Moxy hotels spanning 25 countries, including 16 in the Asia Pacific region.

Asserting that Moxy is poised to disrupt the Indian hospitality market, Alex stated, “While every brand is unique, Moxy presents a very quirky and playful side of hospitality. For example, check-in at Moxy Hotels is at the bar, where guests are greeted with a complimentary cocktail. It’s also a very tech savvy brand targeted at modern travellers. It will have a lot of co-working areas and there are innovative room features such as smartphone control”.

According to Alex, the company is witnessing robust demand at its resorts and other leisure destinations throughout India.

“We have 10 JW Marriott hotels, and there are ten in the pipeline. Our pipeline includes hotels in locations such as Ayodhya, Ranthambore, and Pahalgam. We have a hotel opening in Katra in a couple of months, and there is another hotel opening in Sonamarg. Our hotel in Shillong has done extremely well,” she said. “The good news is that we opened 12 hotels in India last year, and all hotels have opened with very healthy occupancies and average daily rates,” she added.

Marriott Anticipates the Return of Business Travel:

Meanwhile, Alex anticipates that the resurgence of international business travelers in India will drive growth this year.

“From 2020-2022, a lot of companies curtailed travel plans because of health or financial reasons. Since 2023 has been a record year for a lot of companies because of the surge in business, I am confident that there will be a lot of conferences and meetings and target-setting trips planned for 2024,” she said.

“We expect the medical sector and the manufacturing sector to contribute to the conferences business. The wedding segment is here to stay, as now there are expectations that more weddings should happen here,” she added.

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

India’s masur production set to hit all-time high of 1.6 million tonnes in 2023-24 rabi season

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January 13, 2024

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India’s masur (lentil) production is expected to reach an all-time high of 1.6 million tonnes in the 2023-24 rabi season, driven by an increase in cultivation area, according to Consumer Affairs Secretary Rohit Kumar Singh.

In the 2022-23 rabi season, masur production stood at 1.55 million tonnes, according to official data. Despite being the world’s largest producer and consumer of pulses, India imports certain pulses, including masur and tur, to address domestic shortages.

“This year, masur production is going to be at an all-time high. Our masur production will be the highest in the world. The acreage has increased. The dynamic is changing,” Singh said at an event organised by the Global Pulse Confederation (GPC) on Friday.

During the ongoing rabi season, the cultivation of masur has increased, with the total acreage reaching 1.94 million hectares as of January 12. This marks an increase from the 1.83 million hectares recorded in the same period last year, as reported by agriculture ministry data. Additionally, on the sidelines of the event, the Secretary stated that masur production is projected to reach 1.6 million tonnes for the current rabi season.

He also highlighted that the nation consistently produces an average of 26-27 million tonnes of pulses each year. While being self-sufficient in chana and moong, the country relies on imports to address shortages in other pulses such as tur and masur.

“While we pitch for self-reliance in pulses, we cannot ignore that for some time to come, we probably need to keep (pulses) imports running,” he said.

While the government is incentivising farmers to grow more pulses, one needs to keep in mind the limited area under cultivation, he added.

Sharing how difficult it is to balance the farmers’ and consumers’ interests, the Secretary said, “I think we are doing ok in the last couple of years. Despite weather disturbances, we have managed to keep the prices of pulses reasonably under control.”

Continue Exploring: Govt expects 18% decline in tur prices by February

Tata Consumer Products mulls fundraising strategies after INR 7,100 Crore dual acquisitions announcement

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January 13, 2024

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Following the announcement of two potential acquisitions valued at INR 7,100 crore, Tata Consumer Products Ltd. is considering raising funds through a combination of debt issuance and equity from existing investors.

In an exchange filing on Friday, the company stated that a board meeting is set for January 19 to discuss various matters, including the potential fundraising through the issuance of commercial papers or debentures, a rights issue, or any other suitable mode as determined by the board.

Tata Consumer Products’ Dual Acquisition: Capital Foods and Organic India

The decision to raise capital comes as the Tata Group company has agreed to acquire Capital Foods Pvt., the owner of Ching’s Secret and Smith & Jones, and Fabindia-Backed Organic India, to expand its portfolio of high-margin businesses.

Continue Exploring: Tata Consumer Products seals INR 7,000 Crore dual acquisition, adding Capital Foods and Organic India to portfolio

The Tata Group agreed to acquire the Ajay Gupta-founded Capital Foods through an all-cash deal, as revealed in its exchange filing on Friday. The phased acquisition is set at an enterprise value of INR 5,100 crore.

Tata Consumer also intends to acquire Organic India with an enterprise value of INR 1,900 crore, aiming to establish a health and wellness platform. The company has entered into a share-purchase agreement with Fabindia for an all-cash deal, according to a separate exchange filing.

Actress Sunny Leone ventures into gastronomy with ‘Chica Loca’ debut

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January 13, 2024

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Actress and Entrepreneur Sunny Leone has unveiled ‘Chica Loca by Sunny Leone,’ a fusion of global cuisine and a cocktail bar.

The inauguration of the flagship venue is set for January 22nd in partnership with Singing Bowls Hospitality, led by Sahil Baweja, situated at Gulshan One 29 in Noida.

“Chica Loca is more than a place; it’s an extension of my personality. It’s where people can immerse themselves in glamour yet feel completely at ease. I can’t wait for guests to enjoy their favourite artists while sipping their favorite cocktails and get a taste of my loca world,” said Sunny Leone.

Chica Loca’s Unique Culinary Blend:

The menu at Chica Loca mirrors Sunny Leone’s global travels and diverse experiences. Curated by Chef Vaibhav Bhargava, it introduces undiscovered flavors and innovative culinary techniques from various corners of the world.

The culinary offerings showcase a contemporary interpretation of multi-cuisine, incorporating influences from Indian, Asian, Mexican, and Italian culinary traditions.

In alignment with the culinary offerings, “Potions by Sunny Leone” introduces a diverse array of cocktails, each with its unique narrative and inspiration drawn from her Bollywood ventures, travel escapades, and personal moments.

Sahil Baweja, Director of Singing Bowls Hospitality, said, “We aim to create an environment that mirrors Sunny’s infectious energy and joyous persona. Chica Loca by Sunny Leone is our endeavor to create a blend of fantastic food, entertainment, and an unforgettable experience.”

With the launch of Chica Loca by Sunny Leone, the actress-entrepreneur marks the beginning of a new chapter in the realms of gastronomy and entertainment.

Read Other Articles: Hip-hop icon Badshah dives into hospitality with new dining ventures in Chandigarh

Dunzo develops long-term strategy to address financial woes and salary commitments, sets payment timeline by January 31

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January 13, 2024

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Cash-strapped delivery startup Dunzo communicated to its former employees on Friday evening that it is actively developing a comprehensive, long-term business strategy to address outstanding liabilities and fulfill pending salary commitments.

In October last year, the firm backed by Reliance Retail had informed its former employees that salaries for June and July, along with final settlements, would be disbursed by February 2024. The payment will encompass a 12% annual interest calculated on the employee’s tenure of service.

Dunzo will now outline a payment timeline by January 31 as the company formulates a solution over the next couple of weeks, as mentioned in the email.

“As you would recall, Dunzo has always been a transparent organisation and has operated with the absolute best intent for its team members. It is unfortunate that we haven’t been able to meet our financial commitments due to unforeseen business and external funding situations in the recent past. We are extremely sorry for this,” the email noted.

Dunzo’s Partner Store Setback:

In December, several of Dunzo’s partner stores, including Easy Bazar and MK Retail, temporarily went offline as the company delayed payments for grocery orders. They returned online in the same week after the dues were cleared.

The on-demand delivery platform has postponed salary payments on multiple occasions, citing preparations to secure additional funding to meet its payment obligations.

Continue Exploring: Awaiting investor funds, Dunzo yet to disburse November salaries

In September, Dunzo collaborated with payroll financing company OneTap to disburse salaries for existing employees for the month of August.

Earlier in August, SnackFax had reported that Dunzo was scaling down its quick commerce operations under Dunzo Daily massively to cut down cash-burning propositions and focus on more lucrative verticals. A Dunzo spokesperson later confirmed that the company is in the process of moving to a partner store format.

After shutting down the majority of its dark stores in major cities, including Bengaluru, the company collaborated with several offline retail stores like MK Retail, Easy Bazar, Pristine Supermarket, and Deepa Retail to fulfill quick commerce orders.

In October, Dalvir Suri, a Co-founder of Dunzo, resigned from his position. Suri played a pivotal role in introducing new business lines, including Dunzo Merchant Services (DMS).

Read Other Articles: Dunzo Co-Founder Dalvir Suri announces departure after six years of service

Unilever CEO Hein Schumacher lauds Hindustan Unilever as strongest and largest operation globally

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January 13, 2024

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Hein Schumacher, the CEO of Unilever, said that Hindustan Unilever, the company’s Indian unit, has undoubtedly become one of Unilever’s strongest and largest operations.

“The growth prospects of India as a country offer enormous potential, with the nation’s leapfrog into digital and favourable demographics seen in a younger population,” he posted on LinkedIn after a three-days visit to India this week.

Hindustan Unilever Limited (HUL) contributes over 11% to Unilever’s worldwide sales, making it the second-largest market for the company in terms of revenue, following the United States. Renowned for products like Rin detergent, Dove shampoo, and Lux soap, HUL holds a dominant position in the Indian market, leading in the majority of segments it operates, with nearly 80% of its portfolio either gaining or maintaining market share. During his market visits, Schumacher engaged with various stakeholders, including customers and top executives from Nykaa, Reliance Retail, the pharmacy chain Wellness Forever, and local kirana stores.

CEO Emphasizes Digital Transformation at Hindustan Unilever

“Leveraging the digital wave, for instance, 1.3 million neighbourhood retail stores across India have been using Shikhar, our in-house app that has transformed how we engage and conduct business with our partners. Its success demonstrates the tremendous opportunity for the digitalisation of the value chain,” added Schumacher on his maiden visit to the country after becoming Unilever’s CEO last July.

HUL’s Shikhar, an internal ordering application, enables small neighborhood stores to place direct orders, yet these orders are fulfilled through distributors. Widely adopted by several developing nations, this Indian innovation accounts for almost 40% of the total sales for India’s largest consumer goods company.

During his tour of the retail outlets, the executive emphasized his attention on the strategic arrangement of a diverse array of products in even the most limited spaces. He specifically noted the pivotal role played by technology in shaping this organizational dynamic.

“Our in-house app has transformed how we engage and conduct business with our partners at their convenience. Its success demonstrates the tremendous opportunity for the digitalisation of the value chain,” he told retailers.

His visit coincides with the All India Consumer Products Distributors Federation (AICPDF) raising concerns about HUL’s new margin structure. The AICPDF has expressed its determination to fight for the restoration of margins and has even issued a warning about a possible boycott of HUL’s products. However, HUL has maintained that their terms of trade with distributors are bilateral, and the supply of their products remains uninterrupted.

Continue Exploring: Taj Mahal Tea faces boycott in Maharashtra as FMCG distributors protest HUL’s margin changes

In the September quarter, HUL experienced a 3% increase in volumes, reflecting that a significant portion, three-fourths to be precise, of its growth originated from increased demand rather than price hikes. HUL’s performance is often viewed as a gauge for the overall consumer sentiment in India. During a recent Barclays Fireside conference, Schumacher cautioned against complacency regarding HUL’s market share, hinting that its historically strong position in India might face challenges with the growing competition.

Tata Consumer Products seals INR 7,000 Crore dual acquisition, adding Capital Foods and Organic India to portfolio

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January 13, 2024

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Tata Consumer Products Ltd (TCPL) announced on Friday that it has entered into definitive agreements for the complete acquisition of Capital Foods, the proprietor of Ching’s Secret and Smith & Jones, and Organic India, a Fabindia-supported producer of organic teas and health products. While TCPL did not disclose the exact cost of the Capital Foods acquisition, individuals familiar with the matter indicated that the valuation of the instant noodles and condiments manufacturer stood at INR 5,100 crore. TCPL stated that the acquisition of Organic India would amount to INR 1,900 crore.

TCPL is set to acquire 75% of Capital Foods initially, with the remaining 25% to be acquired over the next three years. Both Invus Group and the US private equity group General Atlantic will divest their current stakes of 40% and 35%, respectively. Invus, functioning as a European family office and investment arm, will be part of the divestment.

“This move is consistent with Tata Consumer’s strategic intent to expand its product portfolio and its target addressable market in fast growing/high margin categories,” TCPL said in a stock exchange filing.

Nestle India’s Position Amid Tata Consumer Products’ Move

“The development is mildly negative for Nestle India as Nestle was also likely one the bidders for Capital Foods and competition in noodles and cooking aids will increase once TCPL acquires Capital Foods as it can scale it up further,” Nuvama Equities said in a note.

TCPL said that Capital Foods has strong umbrella platform brands with a distinctive product portfolio tailored for in-home consumption in rapidly expanding categories. Ching’s Secret, a market leader in desi Chinese products, encompasses a range of items including chutneys, blended masalas, sauces, and soups. Additionally, Smith & Jones focuses on facilitating in-home preparation of Italian and other Western cuisines.

The acquisition will empower TCPL to broaden its product portfolio and enhance its pantry platform. Substantial synergy benefits will be realized through the integration with TCPL’s existing businesses, encompassing distribution, logistics, exports, and overheads.

Continue Exploring: Tata Consumer Products set to expand portfolio with strategic acquisitions of Capital Foods and Organic India

“We believe this is a good strategic and financial fit,” said Sunil D’Souza, TCPL MD and CEO. “It will open up significant market opportunities in the fast-growing, non-Indian cuisines segment, leveraging the sales and distribution platform that we have built.”

Shantanu Rastogi, managing director and head, India, at General Atlantic, said, “We have had a great partnership with (Capital Foods founder) Ajay Gupta in scaling Ching’s and Smith & Jones. We wish Ajay and Tata Consumer Products the best in the next phase of development of Capital Foods.”

TCPL will complete the full acquisition of Organic India through an all-cash transaction amounting to INR 1,900 crore.

“The board of directors approved the acquisition of up to 100% of the equity share capital of Organic India Pvt Ltd,” TCPL said in an exchange filing. “This move is consistent with Tata Consumer’s strategic intent to expand its product portfolio and its target addressable market in fast-growing/high-margin categories. This acquisition will create a health and wellness platform.”

The total market size for the categories in which Capital Foods operates is estimated to be INR 21,400 crore.

D2C mouth freshener brand JoySpoon raises INR 1.25 Crore in funding led by 100X VC

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January 13, 2024

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Yash Mehta and Vaishali Mehta, Founders, JoySpoon

JoySpoon, a D2C brand specializing in mouth fresheners, also known as Mukhwas, has successfully raised INR 1.25 crore in a funding round led by 100X VC.

Gujarat-based JoySpoon offers high-quality and tastier alternatives to traditional mouth fresheners. The team has meticulously designed their product lineup to include age-old natural ingredients in their recipes without the addition of excessive sugar or artificial flavors. Their recipes ingeniously incorporate ancient wisdom to address common gastrointestinal concerns such as acidity and digestion.

Acknowledging the absence of health-conscious and wholesome alternatives to traditional mukhwas that contain sugars, preservatives, and artificial flavors, 100X VC chose to back the company due to its positive initial traction and capable founding team.

As mentioned by the team at 100x VC in their investment note, “JoySpoon represents an unparalleled prospect in the disorganized landscape of the Indian mouth fresheners market. With robust competitive advantages and capable founders, JoySpoon emerges as an enticing investment opportunity. Positioned strategically, the company is poised to leverage the growing momentum of the Indian mouth freshener market and emerge as a global industry leader.”

JoySpoon was established by Yash Mehta and Vaishali Mehta in 2023. Yash Mehta, a Chartered Accountant by profession, harbors a profound passion for high-quality foods and possesses a keen understanding of market trends, particularly in the D2C domain. Furthermore, Vaishali Mehta, with a background in retail, contributes expertise in product curation, product development, and online marketing. As a dynamic couple-preneur duo, they aspire to revolutionize and elevate mukhwas to international acclaim as a distinctive Indian product.

Continue Exploring: The Baker’s Dozen raises INR 33 Crores in Pre-Series A funding led by Wipro Consumer Care Ventures, eyes aggressive expansion beyond metro cities

Costa Coffee and BOSH! team up to introduce delectable plant-based delights across the UK

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January 12, 2024

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Costa Coffee has partnered with plant-based culinary experts BOSH! to launch a fresh assortment of plant-based savory and sweet offerings throughout its United Kingdom outlets.

The companies aim to enhance the accessibility and convenience of plant-based dining for on-the-go customers.

The latest range, available at over 2,600 Costa Coffee establishments across the UK, aims to transform the accessibility of plant-based food choices.

BOSH! officials Henry Firth and Ian Theasby stated, “Our mission is to get more plants onto more plates, and our collaboration with Costa Coffee has paved the way for easier access to delicious plant-based products across the United Kingdom.

“We’re incredibly proud to be working with the nation’s favourite coffee shop, making it more convenient than ever for customers to enjoy flavourful plant-based options without compromising on taste or accessibility.”

Varied Plant-Based Choices at Costa Coffee

Costa Coffee and BOSH!’s collaboration is committed to providing a varied range of meat-free, plant-based foods for customers to savor alongside their preferred Costa coffee, complemented by a plant-based milk alternative.

For breakfast, patrons have the choice of the Plant-Based Smashin’ Sausage Bap or the Plant-Based Saucy Chicken Fajita Wrap.

Dessert options encompass the fresh Caramelised Biscuit Rocky Road and the Double Chocolate Cookie.

The partnership introduces the concept of “delish-etarian,” a term designed to transcend conventional dietary labels.

Costa Coffee food innovation head Cathy Goodwin stated, “We’re proud to be making plant-based products more accessible at Costa Coffee with an exciting collaboration with BOSH!

“Ultimately, everyone wants to eat delicious food, and [by] teaming up with the remarkable talents at BOSH!, together we have created a range of delicious plant-based products tailored for delish-etarians everywhere. “

In December 2023, Costa Coffee unveiled its refurbished establishment at Cornhill in Dorchester, UK.

The upgraded establishment prioritizes convenience for customers on the go, offering touchscreen ordering and a designated collection point.

Continue Exploring: Costa Coffee unveils its first plant-based ready-to-drink Oat Latte

McDonald’s China and Cainiao collaborate to optimize supply chain efficiency

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January 12, 2024

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McDonald’s China has partnered with Cainiao, the logistics branch of the Alibaba Group, to improve supply chain efficiency, as reported by the South China Morning Post.

The collaboration will incorporate technologies like radio frequency identification (RFID) to streamline McDonald’s processes from manufacturing to the point of sale.

McDonald’s China will implement Cainiao’s RFID technology in its supply chain by incorporating built-in tags on food packaging. This will facilitate the tracking of products from factories to restaurants.

The initiative is anticipated to enhance inventory management and decrease the time needed for stocktaking.

RFID is a third-generation identification technology, succeeding bar codes and QR codes. It functions by transmitting data via radio frequency signals from a microchip within the tag.

The two companies tested the RFID system, and the findings indicated that participating restaurants could perform a daily stocktake in just 15 minutes, as opposed to an hour.

The precision of inventory data also saw a 30% improvement.

In order to streamline the supply chain for fast-food establishments, McDonald’s and Cainiao will explore digitalization and automation technologies more extensively.

McDonald’s China operates 5,500 establishments and employs 200,000 individuals to cater to over a billion customers each year.

This partnership comes at a time when the logistics company is planning to raise $1 billion through an IPO (initial public offering) in Hong Kong, after submitting its filing to the city’s stock exchange in September 2023.

In November 2023, McDonald’s reached an agreement to purchase the minority stake held by investment firm Carlyle in the partnership responsible for operating McDonald’s business in mainland China, Hong Kong, and Macau.

McDonald’s, through this deal, will increase its ownership stake from 20% to 48%. CITIC Capital, a Chinese alternative investor, will retain the remaining 52% stake.

The deal is set to conclude in the first quarter of 2024.

Continue Exploring: McDonald’s partners with Accenture to boost innovation and efficiency with AI

NewsHub

Moxy: Marriott International’s Disruptive Brand

Marriott Anticipates the Return of Business Travel:

Tata Consumer Products’ Dual Acquisition: Capital Foods and Organic India

Chica Loca’s Unique Culinary Blend:

Dunzo’s Partner Store Setback:

CEO Emphasizes Digital Transformation at Hindustan Unilever

Nestle India’s Position Amid Tata Consumer Products’ Move

Varied Plant-Based Choices at Costa Coffee