Tuesday, February 10, 2026
Home Blog Page 673

Noida administration urges residents to report cross-border liquor purchases; unveils fines for offenders

By
SnackTeam
-
0
Liquor
Liquor

The Noida administration has urged residents to report cases of people purchasing alcohol from Delhi or Gurugram to consume in Uttar Pradesh. This move is in line with the administration’s endeavors to boost revenue from liquor sales and to control the flow of alcohol from neighboring states where it might be relatively less expensive.

Residents who report such incidents are guaranteed anonymity by the administration. It stresses that bringing or consuming liquor from outside Uttar Pradesh is a punishable offense, and those accused could face potential jail time.

District Excise Officer Subodh Kumar said, “In Uttar Pradesh, bringing or consuming liquor from outside the state is a punishable offense. A case can be registered under Section 63 of the Uttar Pradesh Excise Act 1910, leading to imprisonment. Additionally, under Section 72, the vehicle transporting illegal liquor can be confiscated.”

He explained the state’s excise regulations, permitting only one bottle of alcohol from other states, with a minimum penalty of INR 5,000 for such instances.

Growth in Liquor Sales Revenue

In the last six months (July to December 2023), the revenue from liquor sales in Gautam Buddh Nagar amounted to INR 892 crore, indicating a growth of 15.54 percent compared to the corresponding period in 2022 (INR 772 crore). The district has attained 84 percent of its annual target of INR 2,324.78 crore, having collected INR 1,342.87 crore as of December 2023.

In a bid to boost alcohol sales, the Uttar Pradesh government authorized the outdoor consumption of beer in liquor shops possessing a 100 sq ft space. Additionally, liquor sale hours were extended during the festival season.

Continue Exploring: New excise policy maintains liquor prices except for country-made; premium outlets at transit hubs approved

Noida has designated dry days, including January 22 for the ‘Pran Pratishtha’ ceremony of the Ram Temple in Ayodhya, January 14 for Makar Sankranti, and January 26 for Republic Day. On dry days, the sale of alcohol is prohibited, with regulations differing across states due to the state-subject nature of liquor laws.

Continue Exploring: Liquor outlets to remain shut in Uttar Pradesh on January 22 for Ram Temple ceremony

Advertisement

D2C brand Bewakoof reports 60% cut in losses to INR 12.7 Cr in FY23, sales dip 8%

By
SnackTeam
-
0
Bewakoof

Bewakoof, the D2C brand under Aditya Birla Group’s TMRW, achieved a nearly 60% reduction in its losses for the fiscal year concluding on March 31, 2023, primarily attributed to a significant increase in ‘other income’.

The Bengaluru-based brand registered a net loss of INR 12.7 Cr in the financial year 2022-23 (FY23), marking a 58% decrease from INR 30.7 Cr in FY22.

Nevertheless, there was a decrease in sales during the assessed period. Bewakoof recorded operating revenue of INR 147.1 Cr in FY23, reflecting an 8% decline from INR 160.19 Cr in the preceding fiscal year.

Established in 2012 by Prabhkiran Singh, the D2C startup earns revenue by offering a range of products, including clothes, accessories, notebooks, and backpacks, designed to cater specifically to the millennial audience.

The startup experienced a 64% surge in its other income, reaching INR 82 Cr in FY23 compared to INR 50.23 Cr in FY22. With the inclusion of other income, the total income saw a 9% increase, reaching INR 229.43 Cr, up from INR 210.42 Cr in FY22.

Bewakoof’s Expense Allocation: Procurement, Salaries, Advertising

The total expenditure showed minimal change, staying nearly constant at INR 241.8 Cr in FY23 compared to INR 240.5 Cr in the preceding year.

As a D2C brand, the startup allocated the largest portion of its expenses to the procurement of finished goods, amounting to INR 85.6 Cr. Nonetheless, this marked a 2% decrease from the INR 87.4 Cr spent in the prior year.

During the reviewed year, the startup allocated INR 59 Cr towards employee salaries and additional benefits, reflecting a significant increase of 47% from the INR 40 Cr spent in FY22. This suggests a growth in the startup’s workforce during FY23.

Advertising expenses witnessed a 17% decline, decreasing to INR 28 Cr from INR 33.7 Cr in FY22.

In FY23, Aditya Birla Group‘s brand conglomerate TMRW infused INR 200 Cr into Bewakoof to secure a controlling stake in the D2C startup. At the point of investment, Bewakoof outlined its intention to utilize the funds for brand development and the expansion of its offerings into the segments of teens and kids wear within the subsequent two years.

Before this investment, the startup had support from notable backers such as Investcorp, IvyCap, and Spring Marketing Capital.

In the rapidly expanding D2C apparel market in India, Bewakoof competes with brands such as The Souled Store, Snitch, and Damensch.

Continue Exploring: Global apparel and fast fashion giants buck trend with 40-60% sales surge among young consumers in FY23

Advertisement

Firstcry parent Brainbees Solutions to invest INR 150 Crore for Gulf expansion

By
SnackTeam
-
0
FirstCry

Brainbees Solutions, the parent company of Firstcry, plans to allocate more than INR 150 crore from the proposed IPO funds to enhance its operations in the Gulf region, focusing particularly on the Kingdom of Saudi Arabia.

The move aims to further solidify its leadership in KSA. Firstcry aims to raise approximately INR 4,000 crore through the IPO, which includes a fresh issue of INR 1,800 crore.

In the Draft Red Herring Prospectus submitted to SEBI, Firstcry has stated it plans to inaugurate 12 new stores between FY25-27, with an investment of INR 73 crore.

Continue Exploring: IPO-bound FirstCry files DRHP, targets INR 1,816 Crore fundraising in fresh issue

The company also plans to establish its own 2.5 lakh square feet warehouse by deploying INR 83 crore. This investment will facilitate the company in establishing its offline presence and distribution in KSA.

In India, Firstcry manages 936 retail outlets, backed by a network of 80 warehouses and stockists.

The expenditure on childcare products per child in KSA is INR 60,000, which is over seven times higher than that of India (INR 8,000). This is further compounded by a high birth rate of 17.5 per thousand population as of 2021, surpassing both India and China.

This positions KSA as the largest market for childcare products in the GCC, with an estimated value of INR 49,400 crore in 2022. The market is anticipated to witness a four percent Compound Annual Growth Rate (CAGR) until 2027, reaching a projected range of INR 59,000 to INR 63,000 crore.

The expansion is predominantly fueled by the increasing prevalence of e-commerce, elevated employment rates, and a growing emphasis on children’s health and safety.

While Firstcry contends in KSA with competitors like Amazon, Babyshop, owned by the Landmark Group, and other brands encounter challenges in the Middle East.

The UK-based childcare and parenting brand Mothercare, which obtained 43 percent of its revenues from the Middle East and 13 percent from KSA, experienced an 11 percent and 20 percent decrease in sales, respectively, attributed to ‘local factors,’ as stated in Mothercare PLC’s 2023 Annual Report.

Firstcry’s Successful Entry and Operations in KSA

Nevertheless, Firstcry ventured into KSA in August 2022, aiming to replicate its successful playbook from India. FirstCry Arabia provides a range of over 167,500 Stock Keeping Units (SKUs) from more than 3,100 brands spanning various categories.

Firstcry’s international Gross Merchandise Value (GMV) has experienced remarkable growth, expanding 2.3 times from FY21 (GMV INR 377 crore) to FY23 (GMV INR 874 crore). This substantial increase signifies a notable 52 percent Compound Annual Growth Rate (CAGR).

The average order value has shown a consistent rise, climbing from INR 5,311 in FY21 to INR 7,644 in Q1FY24.

However, this is partially due to the recent start and the influence of a small base effect.

Advertisement

Ayodhya’s hotel industry booms: Investors pour INR 420 Crore into hospitality projects as Ram Temple spurs tourism growth

By
SnackTeam
-
0
hospitality hotel
(Representative Image)

Investors have entered into multiple agreements to make substantial investments in the hospitality sector in Ayodhya, capitalizing on the significant potential for religious tourism with the upcoming Ram Temple. Well-known hotel brands are setting up their establishments in Ayodhya, and around 50 major hotel construction projects are presently in progress in the city, according to official sources.

With numerous small-scale hotels, resorts, and homestays making investments in the area, Ayodhya is establishing itself as a burgeoning hotspot in the hotel industry.

Moreover, well-maintained highways and roads, wall paintings portraying the life of Lord Ram, decorative facade lighting, and an impressive entrance embellished with Victorian lamps enhance the allure of Ayodhya.

According to Divisional Commissioner of Ayodhya Gaurav Dayal, 102 intent agreements worth about INR 18,000 crore were signed for tourism in Ayodhya during the Global investment summit.

Mega Projects Shaping Ayodhya’s Future

Even after the GIS, many entrepreneurs have submitted their proposals to the government and district administration for the investment in the tourism sector in Ayodhya, he added.

Currently, there are 126 ready-to-be-implemented projects related to tourism in Ayodhya.

Of the 126 projects, 46 have signed MOUs, while 80 are non-MOU related. The total cost of all these 126 projects is around INR 4,000 crore.

Dayal said that around 50 renowned hotels have invested in Ayodhya for large-scale projects, and the construction of their buildings is underway. These hotels include Taj, Marriott, Ginger, Oberoi, Trident, and Radisson, and they will soon be completed and operational.

There are plans to develop the ‘Raja Ki Building’ as a heritage hotel, with a major hotel chain expressing interest in investing in this project.

Apart from these, a significant number of small and large hotels are likely to commence operations in and around the Ayodhya region. These hotels will ensure the accommodation for a large number of devotees and tourists visiting Ayodhya.

Ayodhya is set to witness an investment of approximately INR 420 crore through the four large projects in the hotel industry. The first on the list is Panche Dreamworld LLP, which will establish the ‘O Rama Hotels and Resorts’ project at a total cost of INR 140 crore.

Innovators Digital Ads Pvt Ltd will build Solitaire Ayodhya 5 Star hotel for INR 100 crore, Evergreen Infrastructure will establish Shri Ramya Hotel with an investment of INR 90 crore and Samruddhi Swastik Trading and Investment will set up the ‘Vishranti Grah’ at an investment of INR 86 crore, officials said.

Continue Exploring: Ayodhya becomes hub for FMCG companies and food service chains ahead of Ram temple consecration

Advertisement

Luxmi Tea to intensify retail presence, targets key airports for expansion

By
SnackTeam
-
0
Luxmi Tea

Luxmi Tea, the proprietor of the Makaibari brand, plans to broaden its retail footprint nationwide, as stated by a company representative.

The company has already inaugurated stores for the sale of its premium tea within Kolkata and Bagdogra airports, as well as within the international terminal of Mumbai airport.

Rudra Chatterjee, MD of Luxmi Tea, said “The retail and online channels of our tea sales are growing fast. Presently, online and retail constitute less than ten per cent of overall sales.”

“Luxmi Tea, which has gardens in West Bengal, Assam and Rwanda in Africa, produces around 25 million kilogramme of the crop annually,” Chatterjee said.

He said, “We have started with three airports at present. Preliminary talks are on to open more retail stores in other airports like Bengaluru and Delhi as well.”

Luxmi Tea’s Branded Accessories Offerings

According to him, the stores are branded as ‘Makaibari’ and feature the sale of the iconic tea, along with other premium Luxmi products at the airport outlets.

The airport outlets will also offer branded accessories such as cups and saucers, in addition to caddies and gift boxes.

Chatterjee said, “The objective is to promote Luxmi tea across the country, primarily the Makaibari brand. Our monthly sales of tea in value terms is around INR 18 lakh to INR 20 lakh”.

Apart from airports, the company also maintains a presence in upscale malls and modern trade establishments.

Approximately ten percent of the company’s overall production volumes are dedicated to tea exports.

Continue Exploring: Assam tea sales skyrocket to INR 2,300 Crore in FY23-24: GTAC Report

Advertisement

Tata Consumer Products to fund Capital Foods and Organic India deals with cash reserves, bridge financing

By
SnackTeam
-
0
Tata Consumer Products
Tata Consumer Products

Tata Consumer Products (TCPL) plans to finance its acquisitions of Capital Foods Ltd and Organic India Ltd, with a combined enterprise value of INR 7,000 crore, using internal cash reserves and bridge financing, according to MD and CEO Sunil D’Souza. D’Souza emphasized that both acquisitions operate in sectors with a significant growth potential, attractive profit margins, and a robust business growth rate.

Furthermore, TCPL intends to enhance its food and beverage portfolio through organic means to address existing gaps. However, the company will also actively explore inorganic growth opportunities, especially if they involve superior brands, technology, and teams, as highlighted by Sunil D’Souza.

Last Friday, TCPL announced the complete acquisition of Capital Foods, which owns brands like Ching’s Secret and Smith & Jones, at an enterprise valuation of INR 5,100 crore, and Fab India-backed Organic India, which operates in the health and wellness category, at an enterprise value of INR 1,900 crore.

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

The Tata Group FMCG arm will finance half of these two all-cash deals through internal accruals.

“We have a decent amount of cash sitting on our balance sheet, but obviously will require far beyond that to make sure we fund it,” said D’Souza.

TCPL’s board is scheduled to meet on January 19 to deliberate on the proposal for fundraising through debt issues in the form of commercial papers/debentures and equity issues.

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

“Right now the proposal that we are putting in front of our board is a short- term, whichever way we do on equity which is going to take time and therefore we will look at a short-term debt. I would say bridge financing with that but we will also look at equity funding further on. Right now we are exploring all options including a possible rights issue as we go forward,” he said.

TCPL, which is a relatively new company in the FMCG sector, has made some acquisitions in the past to increase its play in the food segment and would continue to evaluate more options.

“This is the very start of our journey. We have a long way to go. Therefore we intend to keep dry powder ready in case options come up in the future as well,” he said.

Tata Consumer Products’ Value Creation through Acquisitions:

When asked specifically about the next acquisitions, D’Souza said they are not in a “hurry” and in the short term, they would focus on integrating these two companies properly.

“But yes, we will continue to keep our eyes open for opportunities that come along,” he said adding “We will seek to create value as and when we look at inorganic opportunities.”

When asked about gaps in the offering of TCPL in the food & beverages segment, D’Souza said TCPL has already decided the strategic categories in which it will operate.

“Most of it (gaps) are by choice and not by default,” he said adding if there are some areas by default which has opportunities, then the preferable route will be organic.

“But there will be opportunities, where someone does a far better job, has got a far better brand or it has got far better technology far better team. We will continue to look at those opportunities,” he added.

The Tata Group firm has the ambition to become a large FMCG company.

“In the short to medium term we will first build food and beverage before we get to the FMCG spaces. We have defined our strategic priorities in terms of which are the categories that we will operate in whether it is our core, we will look at the pantry now we have got Sampann Foods and Capital Foods to play in the pantry,” he said.

Besides, TCPL is looking to move up the value chain.

“Therefore whether it is Organic India in the core or Capital Foods as we enter pantry and mini meals etc, the margin profiles of these categories are significantly accretive to Tata Consumer. We will continue to focus on to deliver double-digit growth and EBITDA, ” he said.

TCPL – which owns iconic brands such as Tata Tea, Tetley and Tata Salt – had a revenue in FY23 of INR 13,783 crore.

In 2011, TCPL acquired Bengaluru-based Kottaram Agro Foods for INR 155.8 crore to expand its product portfolio.

Advertisement

US-based Next Level Burger acquires Veggie Grill

By
SnackTeam
-
0
Next Level Burger

Next Level Burger, a plant-based burger chain headquartered in the United States, has successfully acquired Veggie Grill, establishing itself as one of the foremost plant-based-only restaurant platforms in the country.

The combined entity will operate 27 units throughout the country.

Matt de Gruyter, co-founder of Next Level Burger, is set to lead both chains as CEO.

De Gruyter said, “We’re not just writing a new chapter for Veggie Grill — we’re starting a new book. Veggie Grill by Next Level will mean all sorts of changes: organic produce, non-GMO ingredients and ensuring living wages for our many team members across the country.

“Everything guests know and love about Veggie Grill is about to be taken to the Next Level, but know that the fan favourites aren’t going anywhere.”

De Gruyter has outlined immediate changes for Veggie Grill, which closed a dozen units – 40% of its outlets – in the summer of 2023.

These adjustments will bring Veggie Grill in line with Next Level Burger’s dedication to using non-GMO ingredients and exclusively organic produce.

VegInvest, an investment fund that previously rescued Veggie Grill from bankruptcy, played a key role in facilitating the acquisition.

VegInvest will maintain its involvement with the expanded entity, serving as both a shareholder and partner.

Veggie Grill had launched a franchising program to rejuvenate the business. However, this initiative was temporarily halted to concentrate on optimizing the company’s operations.

Veggie Grill co-founder TK Pillan said, “We signed most of our leases pre-Covid when we had a large office lunch business.

“That office lunch trade is a fraction of what it used to be, so a group of our restaurants weren’t worth moving forward with. Large dining rooms in office-centered markets just don’t make sense anymore. It’s about resizing the box economics based on this new world.”

Veggie Grill currently operates across 17 stores in California, Oregon, Washington, and Massachusetts. Meanwhile, Next Level Burger runs ten restaurants spanning California, Colorado, New York, Oregon, Texas, and Washington, enhancing the coast-to-coast coverage of the newly established platform.

Continue Exploring: Saltbae Burger’s global expansion continues with a 24/7 restaurant at Istanbul Airport

Advertisement

Miller Lite unveils innovative beer-flavored mints

By
SnackTeam
-
0
Miller Lite

Miller Lite presents a unique option for beer enthusiasts, even those observing Dry January, with the introduction of Miller Lite Beer Mints. These mints aim to capture the flavor of Miller Lite without the actual beer.

Designed for consumers aged 21 and older, Beer Mints present a combination of mint freshness and a subtle hint of Miller Lite taste when chewed.

This offering allows beer enthusiasts to enjoy a brew-like experience without consuming any alcohol, providing a unique twist for those participating in Dry January.

Ann Legan, VP of Marketing, Miller Family at Molson Coors, said, “We created Beer Mints for the folks participating in Dry January who might miss the taste of Miller Lite while being out with friends this January”.

“If you love the taste of beer but want to take a break from the ABV for the month, we’re offering consumers the perfect way to enjoy Miller Lite without breaking any resolutions. Beer Mints may be a little unexpected, but we’re confident our fans will love their great taste along with the surprising note of spearmint.”

Starting January 12th, with a subsequent release on January 19th, Beer Mints will be available for online purchase for a limited period. Priced at $5 per tin, each containing 40 mints.

Continue Exploring: EU beer sales rise in 2022 but still fall short of pre-pandemic levels

Advertisement

Mango Lassi crowned best dairy beverage globally in TasteAtlas 2023-24 awards

By
SnackTeam
-
0
Mango Lassi
Mango Lassi

Mango Lassi, a popular dairy beverage from North India, widely enjoyed throughout the country during the summer, has been honored with the title of the best dairy beverage in the world by the popular food and travel guide TasteAtlas in the 2023-24 awards.

Mango Lassi presents a revitalizing fusion of yogurt (dahi) and ripe mango. Typically infused with cardamom, water, and sugar, this concoction can be elevated by incorporating soaked saffron strands, giving rise to the delightful Kesar Mango Lassi.

Social Media Frenzy: Celebrating Mango Lassi Supremacy

The online community couldn’t stop raving about the delicious Mango Lassi. Within the comment section of TasteAtlas’ award announcement post, a social media user hailed it as “Lassi supremacy,” while another added that Mango Lassi is “the best of the best.”

The flavor of this lassi may differ depending on the chosen mango variety, with a social media user noting that the “finest one is crafted from Alphonso.”

Reading about this delectable Indian beverage, a user mentioned, “missing India and Indian delicious food and beverages so much.”

The comments section serves as evidence that people from all around the world love Mango Lassi. A Mango Lassi fan wrote, “I’m not even Indian, but I have Indian friends, and I always ask for this.”

A teacher from Brazil recounted the delightful experience of crafting different lassi flavors.

“I was teaching about India to my students (we’re Brazilian), and there was this recipe. We decided to make it, and then we used the lassi for other combinations. Banana lassi, strawberry lassi… so good!”

Lassi, a traditional Indian smoothie originating from the pre-refrigeration era, involved farmers from Punjab blending milk with sugar and curd, storing the mixture in clay pots. This delightful beverage is ideal for combating summer heat, rejuvenating the palate, and hydrating the body.

Lassi is available in a diverse range of sweet and salty flavors. Mango lassi claims the top spot on the list of Top 16 Dairy Beverages in the World for 2023-24 by TasteAtlas, with the classic Punjabi lassi securing the fourth position. In addition to Mango lassi, other variations include Meetha (sweet lassi), Salted lassi, Bhang lassi, and Mint lassi. Sweet lassi also proudly ranks as the 5th best dairy beverage globally. Securing three titles in the top dairy beverages worldwide is a testament to the incredible and widespread love for Punjab’s lassi, not only within India but across the globe.

Continue Exploring: 6 Indian restaurants shine in Taste Atlas’ Top 100 Legendary Eateries, with three breaking into top 10 globally

Advertisement

Coca-Cola bottler SLMG Beverages set to invest INR 100 Crore in sustainable solutions this year

By
SnackTeam
-
0
Coca-Cola
Coca-Cola

In an effort to promote sustainable solutions for addressing climate change, SLMG Beverages Pvt Ltd, the Coca-Cola bottler in India, intends to allocate over INR 100 crore towards sustainability, safety, and environmental initiatives this year.

Of the total investment, INR 75 crore will be dedicated to sustainability, while INR 25 crore will be allocated for quality, as stated by the company.

S N Ladhani, Chairman and Managing Director at SLMG Beverages Pvt Ltd, said, “Sustainability is core to our business strategy to respond to current and future challenges, while creating positive change for the planet.”

“Our water, packaging and climate goals are interlinked. By creating a circular economy for packaging, we will minimise our carbon footprint,” Ladhani said in a statement.

In line with Coca-Cola’s global initiative to create a “World Without Waste,” SLMG endeavors to attain net-zero carbon emissions by 2050. This ambitious objective underscores the company’s commitment to taking a pivotal role in addressing climate change and diminishing its environmental impact.

Continue Exploring: SLMG Beverages launches 100% recycled PET bottles for Coca-Cola in India

SLMG intends to install an extra 20 Reverse Vending Machines (RVMs) in Agra, supplementing the current count of 12.

The company expressed its commitment to powering 70 percent of its electricity consumption with solar energy.

The company is reducing its ecological footprint and emphasizing clean energy solutions through planned capacity expansions in Ayodhya (15 MW), Unnao (5 MW), and Chhata (2.5 MW), as stated in the announcement.

EV Fleet Growth: SLMG Beverages Aims for 10,000 Vehicles by 2027

SLMG aims to increase its electric vehicle (EV) fleet from 2,000 to 5,000 by 2025 and further to 10,000 vehicles by 2027.

The company is acquiring large electric vehicles (EVs) for distribution and warehousing to align with the worldwide shift towards sustainable transportation, as mentioned in the statement.

Advertisement
1...672673674...1,403Page 673 of 1,403