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The Body Shop Joins ONDC network, expanding reach of vegan beauty products across India

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The Body Shop
The Body Shop

The Body Shop, a UK-based ethical beauty brand, has officially joined the Open Network for Digital Commerce (ONDC) network through the use of Shopalyst’s plugin. This strategic partnership signifies a significant step as ONDC and The Body Shop collaborate to introduce 100% Vegan product formulations and ethically sourced Skincare, Bodycare, Haircare, and Make-up to the expansive ‘Open Network.’

The Body Shop India, one of the largest beauty retailers since 2006, has established a formidable retail presence with 200 stores and an extensive reach encompassing 15,000+ pincodes through ecommerce channels and cutting-edge digital experiences. This groundbreaking development enables The Body Shop to showcase its catalog across a rapidly expanding network, providing consumers with the ease of exploration and seamless transactions. Additionally, this presents buyers with the opportunity to choose from a diverse selection of ethical products, accessible through any application on the network, all within a unified app or website.

Vishal Chaturvedi, VP- Retail and Operations, The Body Shop Asia South, said “We are thrilled to be one of the first international beauty and skincare brands in India to join the ONDC Network. As a brand that is always looking to innovate and disrupt the market, joining the ONDC Network is a great move for us. With ONDC Network, we can widen our reach, be easily accessible to consumers across the country, and provide them with a simply great experience at affordable prices.”

This strategic initiative aligns with The Body Shop’s vision of nationwide expansion and making ethical, sustainable, and vegan beauty products readily available to a broader audience. By embracing the ONDC Protocol, The Body Shop aims to establish numerous consumer touchpoints, ensuring an improved and simplified shopping experience for all customers.

T Koshy, MD and CEO, ONDC said, “As the ONDC Network charts its course towards creating a transparent e-commerce ecosystem that champions equal opportunities for all, we are elated to have The Body Shop join the Network. This not only signifies a significant stride for The Body Shop but also sets a pioneering precedent for the beauty industry at large.”

In the rapidly evolving tech landscape, initiatives like the ONDC Protocol play a crucial role in fostering innovation and growth. The Body Shop, with its pioneering spirit, is well-positioned to leverage the ONDC Network and take its innovative product portfolio to new customers across the country.

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

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India’s palm oil imports reach four-month high in December, fueled by competitive prices and increased demand for refined variants

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Edible oil

India’s palm oil imports reached their highest level in four months in December, led by an uptick in purchases of refined palmolein due to competitive prices, according to a leading trade body’s report on Friday.

Increased purchases by the world’s largest importer of vegetable oils may contribute to a decrease in palm oil stocks in top producers Indonesia and Malaysia, thereby supporting benchmark futures.

The Solvent Extractors’ Association of India (SEA) noted a 2.8% increase in December palm oil imports, totaling 894,186 metric tonnes, while refined palm oil imports surged by 47% to 251,667 tonnes.

The negative refining margin for crude palm oil in India, coupled with the lower prices offered by exporting countries for refined palm oil, made it an attractive option for buyers.

Dealers indicated that the landed cost of refined bleached deodorized (RBD) palmolein at Mumbai port was around $25 per ton less than that of crude palm oil.

Sunflower Oil Imports Double Alongside Palm Oil Rise

Apart from palm oil, the imports of sunflower oil surged by over twofold in December, reaching 260,850 tons, marking the highest volume in three months.

This, coupled with heightened imports of palm oil, resulted in a 12.9% month-on-month increase in India’s overall vegetable oil imports, totaling 1.31 million metric tons.

In December, soyoil imports increased by 1.8% to reach 152,650 tons, albeit considerably lower than the average imports of 306,000 tons in the previous marketing year.

Negative refining margins and a higher premium over rival oils were cited as contributing factors.

“Even in January, we could witness higher imports of refined palm oil because of lower prices. Total palm oil imports could rise above 900,000 tons,” said a Mumbai-based trader.

India predominantly obtains palm oil from Indonesia, Malaysia, and Thailand, whereas soyoil and sunflower oil imports originate from Argentina, Brazil, Russia, and Ukraine.

Continue Exploring: Godrej Agrovet and Malaysia’s Sime Darby eye collaborative venture for palm oil processing unit in Telangana

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Sarveshwar Foods expands footprint with NIMBARK Organic outlets in Punjab and Delhi-NCR

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Sarveshwar Foods Limited

Sarveshwar Foods Limited has announced the opening of its NIMBARK Organic Stores in Punjab and the Delhi-NCR region. The company informed that these stores, operated by its subsidiary Himalayan Bio Organic Foods Limited, showcase their range of organic offerings from the Himalayas. Sarveshwar Foods now has a total of 15 retail stores.

The company also distributes its products through 1,200 retail counters across consumption centers and maintains a PAN-India online presence via its website and online marketplaces. The company conveyed that its commitment to offering organic products without artificial fertilisers and chemicals, coupled with its philosophy of promoting a ‘SATVIK’ conscious lifestyle, has played a pivotal role in its market success.

Its product-selling strategy comprises three main components: first, leveraging traditional channels; second, establishing proprietary retail outlets; and third, tapping into the growing preference of the younger generation for online product transactions.

Nonetheless, the stocks exhibited a 0.69% decrease, reaching INR 7.20 at 1:41 pm on the BSE.

Continue Exploring: Akshayakalpa Organic raises $12 Million in funding round led by A91 Partners

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Catalina Crunch appoints Doug Behrens as CEO to drive next phase of growth

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Catalina Crunch

D2C healthy snacks brand, Catalina Crunch, has appointed Doug Behrens as Chief Executive Officer (CEO). Behrens will lead Catalina Crunch into its next phase of growth, concentrating on expanding the brand’s retail presence at a time when the company’s demand is at an all-time high. This significant announcement builds on Catalina Crunch’s recent progress as the company continues to invest in hiring top talent for its executive team.

“I am thrilled to welcome Doug Behrens to the Catalina Crunch team. Hiring him is instrumental to get us to the next level as our needs as a company have changed. We are very excited about the future and look forward to building on the success that has defined the brand to date,” shared Krishna Kaliannan, Catalina Crunch’s Founder.

“I’ve been very impressed with the explosive growth of Catalina Crunch and excited to join the team for the next chapter. The better-for-you food and snacking space is incredibly dynamic and Catalina is well positioned to be a disruptive leader,” shared Doug Behrens.

Drawing upon a wealth of experience in the food and health sector, Doug Behrens boasts a proven track record of propelling growth and fostering innovation. With leadership roles at Johnson & Johnson, Danone, Amplify Snack Brands, and his most recent position as the President and Chief Customer Officer for KIND, Behrens brings a seasoned perspective to Catalina Crunch. His strategic vision harmonizes seamlessly with Catalina Crunch’s dedication to delivering wholesome, delicious, and innovative products to our esteemed customers.

Krishna Kaliannan continues to play an active role in the daily operations of the business as the Founder, while Joel Warady, the current President of Catalina Crunch, will pursue a new opportunity following a remarkable tenure marked by substantial company growth. This transition is viewed as a positive move, underscoring the company’s commitment to ongoing enhancement and enduring expansion.

Following the recent introduction of Catalina Crunch’s latest product, Dark Chocolate Cookie Bars, and its thrilling collaboration with NBA player Jalen Brunson, this significant announcement signifies the brand’s strategic positioning for further growth. Catalina Crunch is poised to extend its product range, venture into new markets, and solidify its status as a pioneer in the health food industry. The brand’s steadfast dedication to quality, transparency, and customer satisfaction remains resolute, with this appointment playing a crucial role in sustaining that success.

Continue Exploring: Nissin Foods USA appoints Brian Huff as president and CEO

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

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Tesco
Tesco

Tesco, the largest retailer in Britain, revised its profit forecast for the second time in four months. This adjustment comes as the company disclosed a stronger-than-anticipated increase in underlying UK sales during the key Christmas trading period, driven by heightened demand for fresh food.

Shares in the supermarket group, holding almost 28% of Britain’s grocery market, rose by 1% early on Thursday. This extends the gains over the past year to 23%, following the company’s announcement of “great momentum” heading into 2024.

CEO Ken Murphy expressed a “cautiously optimistic” outlook regarding the well-being of the UK consumer. He pointed out that mortgage rates were beginning to decline, fuel prices were decreasing, and there was robust growth in wage rates.

“So as long as we are in a full employment market I feel like we’re in a period of relative stability,” he said.

Tesco reported sales of more than 1 million fresh whole turkeys, turkey crowns, and joints, along with over 57 million mince pies and 6.6 million bottles of Prosecco.

“(Consumers) were really determined to enjoy Christmas and they came out in force, they were really pleased to see that the rate of inflation continues to fall in food,” said Murphy.

Tesco noted that it had additionally experienced increased demand for its premium product lines and the widespread popularity of its loyalty program.

As a result, it said that it now expects retail adjusted operating profit, its key profit figure, to reach 2.75 billion pounds ($3.5 billion) in the year ending February 2024, up from 2.49 billion pounds last year.

It had earlier projected a range of 2.6-2.7 billion pounds.

Consumer Spending Trends Impact Tesco and UK Retail

Trading updates from UK retailers and industry data indicate that, during Christmas, consumers prioritized spending on food rather than on more discretionary general merchandise. This trend reflects the challenging economic conditions in Britain.

Industry data, published on Tuesday, showed sluggish UK retail sales in December, adding to concerns that the economy has tipped into a mild recession after soaring inflation forced the Bank of England to hike interest rates to a 15-year high of 5.25%.

For Tesco, during the six weeks leading to January 6, its UK like-for-like sales surged by 6.8%, surpassing analyst expectations of about 5%. In the third quarter until November 25, the sales showed a growth of 7.9%, following an 8.4% increase in the second quarter.

Similar to its smaller counterpart Sainsbury’s, which disclosed robust food sales on Wednesday, Tesco is reaping the rewards of a strategy that involves aligning prices with the discount retailer Aldi on essential items.

Its Clubcard loyalty program, offering discounted prices to members, is contributing to its success due to its widespread popularity.

The funding for these programs is derived from a strategy aimed at reducing 1.1 billion pounds in costs from the business over the two-year period ending in February 2024.

Similar to Sainsbury’s, Tesco has seen advantages from consumers opting to save money by cooking and entertaining at home instead of dining out. Sales of its upscale “Finest” range have surged by 17%.

Murphy anticipated a “minimal impact” on Tesco from disruptions to shipping in the Red Sea, noting non-food products represent just 7% of total sales.

On Thursday, Marks and Spencer, a retailer specializing in clothing and food, announced a stronger-than-anticipated 8.1% increase in sales during the Christmas trading period.

Continue Exploring: Sainsbury’s, Tesco, & other grocers bet big on festive food amid rising inflation

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Bakingo unveils cutting-edge ‘super kitchen’ in Gurugram, marking a milestone in its 2024 expansion plans

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Bakingo

Bakingo, the online bakery platform, has kicked off the year 2024 by unveiling its cutting-edge ‘super kitchen’ located in Gurugram. Covering an impressive 27,000 square feet across three meticulously planned floors, this facility seamlessly combines automation with skilled human expertise. As Bakingo advances in its quest to reshape the culinary scene, the inauguration of this state-of-the-art kitchen marks a noteworthy stride in its journey toward establishing itself as a national bakery brand.

This strategic expansion not only strengthens Bakingo’s ability to cater to a myriad of customer tastes across different occasions but also emphasizes its commitment to delivering unparalleled culinary excellence. The expanded facility positions Bakingo to enhance its services, providing a platform for introducing a diverse range of new varieties and products, thereby enhancing the overall customer experience.

Continue Exploring: Bakingo bolsters expansion plans with $16M investment from Faering Capital

Bakingo sets itself apart through a steadfast commitment to quality, achieved by meticulously selecting premium ingredients and adopting a consumer-centric approach. This dedication is clearly mirrored in its diverse product range and extensive variety. As part of its continuous quest for excellence, Bakingo is devoted to investing in new infrastructure, aiming not only to expand but also to strengthen its nationwide presence, guaranteeing an enhanced experience for all.

Himanshu Chawla, Founder & CEO of Bakingo, said, “This new super kitchen is a testament to the relentless dedication, meticulous planning, and an unwavering commitment to excellence. At Bakingo, our core values—quality, consistency, scalability, and a customer-first approach—have shaped the foundation of this culinary innovation. From the inception of an order to that delightful first bite, our super kitchen is poised to redefine the entire culinary experience. It symbolizes a significant stride in our nationwide expansion journey, embodying our vision for the future of Bakingo. We are eager to continue delighting our customers with delectable and unforgettable treats throughout the year, setting a new standard for excellence in the world of desserts.”

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Coca-Cola undertakes major refranchising move in India, shifting bottling operations to independent partners

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Coca-Cola
Coca-Cola

Coca-Cola has opted to refranchise its company-owned bottling operations in three regions in India. The beverage powerhouse announced on Friday that it is refranchising the bottling operations in Rajasthan, Bihar, North-East, and parts of West Bengal from its bottling subsidiary, Hindustan Coca-Cola Beverages Pvt Ltd, to its existing bottlers.

With this move, the North, North-East, and West Bengal territories will henceforth be entirely managed by independent bottlers on behalf of the company. Coca-Cola presently maintains partnerships with 11 bottlers in India. A similar refranchising initiative was previously undertaken by the company in 2019 in the Northern region.

The Rajasthan market will be owned and operated by Kandhari Global Beverages, which includes Enrich Agro Food Products Pvt. Ltd. and Kandhari Beverages Pvt. Ltd. They are currently operating in parts of Delhi, Himachal Pradesh, Haryana, Punjab, Chandigarh, Jammu & Kashmir, and Ladakh.

Meanwhile, SLMG Beverages Pvt. Ltd. will take ownership and operation of the Bihar market. They are currently engaged in operations in Uttarakhand, along with certain areas of Uttar Pradesh, Madhya Pradesh, and Bihar.

The North-East market, along with select areas of West Bengal, will be owned and operated by Moon Beverages Pvt. Ltd. Currently, they are operating in parts of Delhi and Uttar Pradesh.

Juan Pablo Rodriguez, CEO, HCCB India, said, “This business transfer marks a significant decision for Hindustan Coca-Cola Beverages. It ensures the right level of investments can be undertaken in all parts of the business, while bringing both scale and contiguity to the business. We are in the long-term growth prospects of our beverages business in India and believe this move will help accelerate the Coca‑Cola system, enabling us to win in the market and provide greater value to local communities.”

Future Growth: Coca-Cola’s Plans for New Plants in Gujarat, Telangana, and Maharashtra

HCCB presently manages 16 factories across India. In recent announcements, the company has revealed intentions to establish new plants in states like Gujarat, Telangana, and Maharashtra.

Sundeep Bajoria, Vice President, India Operations, Coca Cola India, said, “We are committed to building stronger and more sustainable local businesses in India As we set ourselves for further growth in the Indian market, these transfers will direct investments into innovation, infrastructure, technical capabilities, talent acquisition and business expansion while strengthening existing capabilities to deliver unparalleled beverage experiences to our consumers.”

Continue Exploring: Coca Cola to invest INR 1,387 Crore in new manufacturing hub in Maharashtra

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Nykaa’s parent company, FSN E-commerce, reports 2.5% share decline after massive block deal

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Nykaa
Nykaa

Shares of FSN E-commerce, the parent entity of the beauty e-commerce platform Nykaa, saw a decline of up to 2.5% following a likely huge block deal.

Nykaa’s shares were being traded at INR 188.75 apiece at 11:30 am on Friday.

According to a CNBC-TV18 report, approximately 2.7 crore shares of FSN E-commerce, equivalent to a 0.9% ownership stake in the company, were traded in a block deal on Friday. The total value of the transaction amounted to INR 516 crore.

Nevertheless, the report was unable to determine the identities of the buyers and sellers participating in the transaction.

On Thursday, reports indicated that Lexdale International was seeking to sell 2.62 crore shares of Nykaa through open market transactions.

Continue Exploring: Lexdale International to divest 2.62 Crore Nykaa shares valued at INR 490 Crore

Nykaa’s Quarterly Performance Update:

Earlier this week, Nykaa, in its quarterly performance update, reported sustained growth across its three business verticals during the third quarter (Q3) of FY24.

During the quarter, the company recognized short-term challenges impacting discretionary consumption. Nevertheless, it foresees the beauty and personal care segment to attain mid-twenties gross merchandise value (GMV) growth in Q3 FY24, while the Fashion vertical is expected to undergo around 40% GMV growth.

Throughout 2023, the beauty and personal care giant encountered challenges arising from increased competition, elevated inflation, and escalating customer acquisition costs. Despite these obstacles, the stock witnessed a partial recovery by the end of the year and has been steadily increasing ever since.

Over the last one year, the company has seen its shares surge by more than 24%, with an additional 11% gain in the first part of 2024.

In the September quarter (Q2) of FY24, Nykaa witnessed a 50% increase in its consolidated net profit, reaching INR 7.8 Cr compared to INR 5.2 Cr in the corresponding quarter of the previous year. This growth can be attributed to advancements across business verticals and effective cost control measures.

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French butter maker Loyez Woessen sets sights on global expansion and diversification into cheese

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Loyez Woessen

France-based butter supplier Loyez Woessen aims to enhance its international presence following the acquisition of new investments.

The company is also expanding into cheese and has revealed a new corporate name – Abondia.

Less than 5% of Abondia’s sales originate from outside of France, where it packages butter for the country’s grocery stores. In 2023, the company achieved sales of €210 million ($230.2 million) but refrained from disclosing its profit details.

Having secured an undisclosed investment from BNP Paribas Développement, the group is now poised to extend its presence in the United States and establish footholds in the Middle East and Asia.

BNP Paribas Développement joins a group of investors that includes majority shareholder Sénevé Capital, agri-food fund Unigrains, and members of the butter maker’s management.

The details of BNP Paribas Développement’s investment remain confidential, including the identity of existing shareholders from whom the bank acquired its stake.

Pascal Jallet, appointed as Abondia’s CEO, has become an investor through the course of the transaction.

“International expansion is a greenfield development project, starting from scratch,” a Unigrains spokesperson said, pointing to overseas accounting for “less than 5%” of the business.

“As a first step, a commercial office has recently been opened in the United States. The focus in this first phase will be on butter, the group’s historic segment.”

Loyez Woessen’s Operational Focus:

Abondia has two butter production sites in France, located in Hauts de France and Loire Atlantique. The company employs 120 staff.

The company’s plans for cheese include production in France, with an eye on supplying the country’s major retailers.

In 2017, Xavier Burette, the president of Abondia, invested in Loyez Woessen alongside Sénevé Capital. Unigrains joined as an investor four years later.

Burette said, “The reorganization of our capital will bring added value to our growth projects. We are delighted to continue this adventure with Sénevé Capital and Unigrains and to welcome BNP Paribas Développement as a shareholder. This operation reflects our ambition for the development of our company in the coming years.”

Continue Exploring: Palace Culture’s plant-based cheese sales soar following successful UK retail debut

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Hindustan Unilever downplays marginal friction with distributors, emphasizes gains in new margin structure

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Unilever
Unilever

Hindustan Unilever, the largest consumer goods company in the country, stated that its distributors now have the opportunity to earn an additional 70 basis points in margins, providing significantly increased returns on investments under its new margin structure, downplaying the friction between the company and dealers.

“They can potentially make 70 bps more with healthier RoI than what they were making in the erstwhile model that we had. It is the right thing to do to future-fit and protect the businesses in our small stores and distribution,” said Kedar Lele, executive director, customer development for HUL.

He said that in the past year, the company had met with all its distributors at least three times before introducing the new model three months ago, emphasizing the absence of any friction between them.

“We tested and learned after they participated and gave us feedback and over a period of time, we created a framework, which we have rolled out after seeing the success of it.”

‘Pay for Performance’ Principle by Hindustan Unilever

Under the ‘pay for performance’ principle, the criteria for additional variable incentive prioritize the quality of service to the stores. This encompasses servicing larger networks of stores, ensuring the availability of various new category packs, and providing next-day delivery.

The company has announced a reduction of up to 60 basis points in the fixed margin to promote fair competition between distributors specializing in wholesale and those choosing the higher-cost retail service with a broader range of availability. To offset this decrease in the fixed margin, the variable margin has been raised by up to 130 basis points.

In October, HUL rolled out the structure in 110 major cities, encompassing almost 400 distributors.

As a result, the All India Consumer Products Distributors Federation (AICPDF) raised concerns, stating that it will advocate for the restoration of margins and even issued a warning about a potential boycott of their products. In response, HUL emphasized that their terms of trade with distributors are bilateral, and they will address concerns when approached.

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

“Our relationship with our distributors is one on one and I shall not discuss the policies of this relationship with anyone else but themselves. We are not asking people to sell more. We are asking people to service better. We do joint business plans and it is going absolutely as planned and as predicted,” said Lele, adding that their distributor attrition rate is in mid-single digits, nearly half compared to the industry average.

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