The seventh edition of Indusfood 2024, a three-day mega food show in Greater Noida, Uttar Pradesh, kicks off today with over 1,200 exhibitors and a participation of more than 7,500 global buyers. Commerce and Industry Minister Piyush Goyal is set to inaugurate the event, as announced by the Trade Promotion Council of India (TPCI).
Indusfood stands out as India’s exclusive trade fair for food and beverages with a focus on exports, presenting domestic products to an international audience of buyers.
This would act as a platform to Indian companies, global importers, retailers, and distribution chains to look for business opportunities and collaborations, it said.
Indusfood 2024: A Growing International Platform
Mohit Singla, Chairman, TPCI, said that the show “has scaled up tremendously, with around 1,200 plus exhibitors, over 7,500 global buyers. Over 120 exhibitors from around the world are also coming”.
Delegates from 90-plus countries are expected to visit this edition of the show.
The sectors which will present their products include sweets and confectionery, dairy, dry fruits, tea and coffee, spices, fresh fruits and vegetables, wine and alcoholic beverages, non-alcoholic beverages, organic and health food, oil and oil seeds.
About a dozen major consumer goods companies, such as Hindustan Unilever, Marico, Parle, Nestle, and Dabur, are restructuring their distribution strategies as part of a broader plan to boost sales, particularly for slow-moving products. This effort is specifically targeted at revitalizing rural markets, which have been under pressure for more than a year. These companies are either modifying their distributor margin structures by incorporating higher variables linked to sales or offering incentives to kirana stores and general trade.
While the majority of distributors typically receive fixed margins ranging from 3-6%, regardless of sales, additional margins are usually tied to reaching specific sales targets. Following a pilot phase involving a reduction of fixed margins by 60-100 basis points to 3.3% and an increase in variable margins by over 100-150 basis points for almost a year, HUL implemented this revised structure across 110 major cities in October. HUL stated that the objective is to enhance overall service efficiency and provide distributors with greater earning potential.
“We are looking at commercial models to enhance the quality of service to general trade stores while giving our distributors an opportunity to earn healthy returns – a win-win. This distributor-inclusive model is designed to better serve the needs of kirana and other neighbourhood stores – the MSMEs,” said a spokesperson for HUL.
Parle has announced an increase in incentives for the trade and raised profit margins within the snacks category.
“We have slightly increased margins for snacking products and are giving incentives and offers if they meet targets. The idea is to push sales, at a time when we can afford to maintain profit even after increasing margins as inflation tapers off,” said Krishnarao Buddha, senior category head, marketing at Parle Products.
In its investor update, Marico noted that constraints on liquidity and profitability persist in the general trade (GT) channel, posing challenges for the sector.
“Towards the end of the quarter, we initiated significant steps towards improving the return on investment of our general channel partners and structurally re-igniting growth in the channel. This included a primary stock correction for our channel partners,” Marico said.
Distributor Challenges in the Consumer Goods Market:
However, distributors argue that altering the margin structure is challenging in a market with sluggish demand. Some contend that a higher variable margin model is viable only for rapidly selling categories, while for products with low demand, it becomes a loss-making proposition. Additionally, distributors mention that companies are now compensating for logistics costs when targets are achieved instead of making adjustments to the previous model.
Delhi, India’s buzzing capital, is a culinary lover’s fantasy. The city has a rich history, a varied ethnic environment, and many delicious restaurants. As the chill of winter settles in, nothing is more comforting than sipping a mug of hot chocolate. In what follows, we’ll review the 10 best spots in Delhi to satiate your cravings for hot chocolate.
Paul – A French Delight:
Paul, a magnificent French bakery that has made its way into the hearts of Delhiites, is the first stop on our tour when it comes to hot chocolate. A masterpiece in a cup, Paul’s hot chocolate combines rich cocoa with a velvety texture that will leave you craving more. Paul’s is known for its beautiful pastries, and for a good reason.
Location: Ambience Mall, Vasant Kunj, New Delhi
Colocal – Hidden Gem:
There is a secret treasure that qualifies for a spot on our list, and that is Colocal. The inviting atmosphere and the tempting aroma of cocoa urge you to come in, and their hot chocolate does not let you down throughout your visit. The hot chocolate offered by Colocal is a symphony of flavours that will thrill your taste buds. It is prepared with premium ingredients of the highest quality.
Location: Khan Market, New Delhi
Ama Cafe – Quaint and Charming
Ama Cafe is the ideal location for individuals who are looking for a place that conveys a romantic and loving environment. The lovely cup of hot chocolate that is served at this modest restaurant in Majnu Ka Tilla is the ideal complement to the mouthwatering dishes that are offered there. The hot chocolate served at Ama Cafe is a delicious dish that combines sweetness and warmth, and it is sure to leave you feeling delighted.
Location: Majnu Ka Tila, New Delhi
Theos – Sinful Indulgence
Where sinfully delicious treats rule supreme, Theos is the place to go to satisfy your desire to find something sweet. Additionally, Theos’s hot chocolate is a rich and delicious experience, much like the rest of the restaurant’s offerings. It doesn’t matter whether you’re in the mood for traditional hot chocolate or flavoured hot chocolate; Theos offers a selection that will satisfy your palette and taste buds.
Location: Rajouri Garden, New Delhi
Nik Baker’s – Baking Bliss
Nik Bakers is a popular choice among those who are enthusiastic about desserts because of the exquisite baked delicacies that it offers. Hot chocolate is one of the most loved items at their bakery Their hot chocolate is a delicious mix of quality cocoa and frothy bliss, producing a beverage that is so comfortable that you won’t be able to resist drinking it.
Location: Green Park, New Delhi
Cafe Dori – Artisanal Excellence
At Cafe Dori, where each and every cup of hot chocolate is a piece of art, you will be plunged into a world of artisanal and artistic brilliance. Connoisseurs who are looking for a refined experience should try Cafe Dori’s hot chocolate because of the careful selection of cocoa beans and the rigorous processing that goes into it.
Location: The Dhan Mill, Chattarpur
Bread Talk – Global Flavors
Bread Talk, which has a worldwide effect, adds a unique twist to the classic drink of hot chocolate. Bread Talk is a wonderful choice for anyone who has an interest in experimenting with different variations of this traditional beverage because of the combination of flavours and the skilled craftsmanship that goes into making it.
Location: Select Citywalk Mall, Saket, New Delhi
The Chocolate Room – A Sweet Escape with Hot Chocolate
The Chocolate Room is a place where hot chocolate is more than simply a beverage; it is an experience. If you want to go on a sweet getaway, you should go there. This coffee shop is perfect for individuals who are craving sweets since it has a menu that is rather extensive and offers a variety of hot chocolate treats.
Location: Vishal Enclave, New Delhi
Sardar Ji Baksh – Desi Delight
Our journey through the world of hot chocolate comes to an end at Sardar Ji Baksh, a restaurant that offers this popular beverage a modern Indian touch. Their hot chocolate is a one-of-a-kind mix that is infused with Indian flavours and offers a pleasant warmth while paying respect to flavour profiles that are traditionally associated with India.
Location: Civil Lines, New Delhi
Harmoni By Greens – Organic Elegance
People who want a bit of organic flavour in their hot chocolate will find that Harmoni by the Greens is the place to call home. Their hot chocolate is a guilt-free indulgence that blends flavour with a touch of elegance, and they are committed to utilising organic ingredients of the highest quality throughout the production process.
Location: Sector 23, Gurugram
The hot chocolate culture in Delhi is very varied and pleasant, and it caters to every taste preference. A hot chocolate experience that is unlike any other can be found at these ten locations, regardless of whether you are a lover of traditional simplicity or desire the thrill of creative flavours. Therefore, travel on a tour through the winter paradise that is Delhi, and while you’re there, treat yourself to the greatest hot chocolate that the city has to offer.
Think of any restaurant that just opened a few months ago in a fancy shopping complex. Imagine a scenario in which you walked inside the place and found yourself blown away by it. What exactly struck you first? The answer may be simple: – everything.
Where unorganized eateries offer delicious taste and value for money, organized players are bringing a revolution to the tilt. They are making a statement with their fashionably varied menu options, outlandish decor which consumers invariably are impressed by and a large focus on technological adaption to attract more consumers who feel inclined to be far more present online and handle the digital influence with ease.
The Restaurant Space: A Lot is Happening
Restaurants in India are filling up with experiential and spontaneous diners who are awestruck by the difference in experience and quality, in comparison to the unorganized market. Local eateries have their charm and unique selling points, and no one can compete with the authenticity and value for money that is on offer in those spots.
But the young consumer of today has grown up in the digital era and knows what is happening around the world, around the best and the hottest destinations. This informed consumer wants to experience more than just local food and feels that major cities in India should also become the next New York or Paris. With the increased spending capacity of the older generation and the newer generation too, the hospitality industry has a lot of expectations to fulfil.
The choices that restaurants will have to make now must be in favour of the younger folks’ thought processes and demands. In a nutshell, consumers that like being given limitless options for pleasure and recreation. As new players, you may label the generation of today to be very impulsive, and pampered. You may think that the generation can ‘never be pleased’ – but think again. This is a generation that is happy to buy from you and help you grow your business because it can. With social media at their fingertips, the most crucial and comprehensive resource for knowing what is trending in the world, they know exactly what to expect from a place they put their money on and they want restaurants to live up to that ideal. Above all, they want to spend money.
The better-informed players in the market who are disrupting the dine-in landscape are doing so simply by allowing the market forces to be dictated by the tectonic shift in consumer patterns. While they have witnessed the market being driven by loyal consumers who would often dine out once in a while on a special occasion but always loved the sound of eating chole bhature at a local eatery, the new market is becoming a bigger playground of sorts for new connections to form.
The New Market: What Works Well
Some new preferences for the hospitality sector include – the demand for superior quality and better hygiene standards, the demand for more variety and of course, lively ambience and top-notch crowd. A local eatery may not be capable enough to provide all of this today. They have smaller teams with low hygiene practices in place and their supply isn’t that big daily unless you count a few selected places that are renowned for their unlimited variety and large fan following. Most of the unorganized sector still suffers from not having adequate information about the consumers, what they want and how to analyze the information. The local eateries are still not using much technology to understand how to use the data to make informed decisions about making more sales. But, there is a lot of potential to utilise third-party platforms such as Google Reviews or Zomato to learn more.
Tech Utilization: Enhancing Data Insights in the Food & Beverage Business
On the flip side, the organized players are using the insights gained from feedback on third-party platforms to improve the experience that is on offer to the consumer. In turn, this can result in a better reputation and robust earnings. The ease of service is also becoming very important to the consumer, as more and more people want to avail the takeaway or delivery option. Hence, those restaurants that can fulfil this demand are seeing better returns too.
The onset of a new era in hospitality does not mean that the old will vanish away. The market will enjoy growth, but the fact remains that there are also restauranteurs with big pockets who are putting their focus on the newer and younger segments, and it is going to be quite something to watch the interaction between these players and the consumers to generate business.
Honasa Consumer, the recently-listed parent entity of the D2C beauty and personal care startup Mamaearth, is likely to be included in the MSCI Smallcap index, according to Nuvama Alternative & Quantitative Research.
The brokerage has reportedly identified the stock as a strong candidate for inclusion in the index, alongside IREDA, Cello World, and Signature Global. According to a Moneycontrol report, Nuvama has highlighted Jaiprakash Associates, Protean e-gov, Swan Energy, J Kumar Infraprojects, and RattanIndia Power as potential additions to the MSCI Smallcap index. These stocks have all experienced significant rallies of 10-100% in the last three months, resulting in their free float-adjusted market capitalization meeting the criteria for inclusion.
Mamaearth had a subdued entry into the stock market in November, but the stock has surged by 37% since its debut.
The official announcement for the upcoming MSCI index rejig is scheduled for February 13, with the adjustments set to happen on February 29.
In the prior adjustments made in November, One97 Communications, the parent company of Paytm, was included among the nine stocks incorporated into the MSCI Global Standard Index.
Presently, Nuvama envisions the potential inclusion of Nykaa‘s parent company, FSN E-Commerce Ventures, as well as entities such as Canara Bank, Mankind Pharma, Bosch, and Vodafone Idea, in the MSCI Standard index, provided they experience a surge ranging from 8% to 20%.
Meanwhile, Nuvama has indicated that if some names miss out on inclusion in the MSCI Global Standard Index in February, there is a possibility that they could be added during the May 2024 review.
Nuvama’s analyst, Abhilash Pagaria, highlighted that India presently commands a 16.9% weight in the MSCI EM Index. He anticipates this figure to surpass 20% by early to mid-2024, attributing it to the current momentum in the domestic market and its outperformance compared to other emerging markets.
Financial Highlights for Nykaa and Mamaearth in 2023:
In 2023, Nykaa saw a growth of more than 12%, and its shares are presently valued at INR 173.4 on the BSE. Meanwhile, Mamaearth is currently trading at INR 444.4.
Restaurant technology company Chowly has acquired Targetable, an automated digital marketing solutions provider for the restaurant industry.
Chowly will integrate Targetable’s marketing technology into its robust suite of offerings, enhancing the appeal for restaurants and driving increased demand.
Additionally, it will utilize this acquisition to provide restaurants with a cost-effective alternative to the expensive services offered by traditional marketing companies.
Targetable’s technology will be seamlessly incorporated into Chowly’s restaurant point-of-sale (POS) system, currently deployed across a network of over 17,000 restaurants.
Furthermore, Chowly and Targetable teams will join forces to create distinctive product offerings tailored for the small and medium-sized business (SMB) restaurant sector. More information about the new product will be revealed in the upcoming months.
Chowly’s Strategic Moves: Second Acquisition in 12 Months
This marks Chowly’s second acquisition in the last 12 months, aligning with its objective of equipping small and medium-sized business (SMB) restaurants with the essential tools for success in the off-premises and digitally driven restaurant sector.
Chowly co-founder and CEO Sterling Douglass said, “We’re thrilled to welcome Targetable to the Chowly team. The combination of these two businesses is a true ‘better together’ story that will help tens of thousands of restaurants create more sales without the additional operational headache.”
Last February, Chowly finalized the acquisition of Koala, a company dedicated to developing guest experience platforms.
Koala’s platform facilitates the enhancement of digital ordering capabilities for both established and emerging restaurant brands across the internet, apps, and kiosks.
Nestlé Waters-owned Sanpellegrino has unveiled a new range of beverages, Sanpellegrino Zero Grams Added Sugar Italian Sparkling Drinks.
The new beverages are crafted with genuine Italian fruit juice and are offered in four delicious flavors: blood orange, lemonade, peach and clementine, and pomegranate and orange.
Each 330ml can contains 1-4 grams of natural sugar (from fruit juice) and 20 calories or less, with variations depending on the flavor.
Sara Mayer, senior marketing manager at Sanpellegrino, said, “At Sanpellegrino, we take pride in crafting our Italian Sparkling Drinks with real fruit juice from fruits grown in the Mediterranean, offering fans authentic flavours”.
Sanpellegrino’s Zero Sugar Beverages Hit the Shelves:
The new zero-added-sugar beverages are now accessible for purchase in Costco stores across the US, with further expansion planned in the coming months.
Swiggy, an on-demand convenience delivery platform, has partnered with Pret A Manger to bring the brand’s freshly made favorites and organic coffees to customers through delivery services for the first time in India. This collaborative effort aims to offer customers increased accessibility to Pret’s delightful menu, enabling them to enjoy these offerings from the comfort of their homes. The initiative is set to contribute to the growth of the brand’s presence in key cities, including Mumbai and Delhi.
Pret A Manger’s Full Menu Available for Online Ordering:
Following the launch of the first Pret shop in Mumbai last year, this collaboration with Swiggy will help Pret deliver its freshly made food to more customers than ever before, wherever they are. Pret’s entire shop menu, which consists of fan-favorite dishes like Chicken Super Club granary sandwich, Posh Cheddar Baguette, including their range of organic coffees, can now be ordered online and delivered in minutes in Mumbai and Delhi.
Mirroring the in-store dining experience, customers on Swiggy now have the flexibility to customize their Barista-made drink orders, selecting their preferred milk and additional add-ons. To uphold the renowned Pret freshness found in Pret shops, strict guidelines and standard operating procedures (SOPs) have been implemented to guarantee that delivery maintains high standards of food quality and packaging.
Announcing the launch on social media, the brands shared a CGI coffee cup being dropped at Gateway of India garnering maximum eyeballs towards this partnership.
Speaking about this partnership, Swiggy national business head Sidharth Bhakoo said, “Swiggy is always looking for ways to bring the best of culinary experiences to consumers. Pret A Manger has been well-loved by users since its debut in India last year. Swiggy is excited to bring them online for the first time to delight and meet the demands of millions of people on the platform.”
Pret A Manger Asia MD Eira Jarvis said, “We opened our first Pret shop in Mumbai last year and since then have continued to grow across the country. We have had great success so far and now have nine shops open across Mumbai in Delhi. We’ve had lots of great feedback from all the customers who have popped in to one of our shops and, with this new partnership, we look forward to continuing to offer even more customers across India our freshly made food and organic coffees wherever, whenever they want.”
On Friday, Kalyan Jewellers announced its plan to open the 250th showroom in Ayodhya, Uttar Pradesh, in the current quarter. The Kerala-based jewellery firm stated in a regulatory filing that it intends to open an additional 30 showrooms in India and the Middle East in the current fourth quarter of the fiscal year 2023-24.
Of the 30 showrooms, the company plans to add 15 ‘Kalyan’ showrooms in India, two ‘Kalyan’ showrooms in the Middle East and 13 ‘Candere’ showrooms, it said.
“The ongoing quarter should witness the launch of the company’s 250th showroom in Ayodhya, a milestone in our journey,” Kalyan Jewellers added.
As of December 31, 2023, the company’s total number of showrooms across India and the Middle East stood at 235.
Ayodhya is gearing up for the inauguration of the Ram Temple on January 22. The city has already undergone a major facelift and the Ayodhya Development Authority is expecting a footfall of three lakh tourists every day during the initial months.
Kalyan Jewellers also said that it is likely to convert the company-owned showrooms launched during the previous quarter to FOCO (Franchisee Owned Franchisee Operated) in the ongoing quarter.
Additionally, the company has completed signing letters of intent for the 80 showrooms planned for FY2025 with a significant majority of these being established under a revised franchise model with further improved economics for Kalyan, the filing said.
“We continue to be encouraged by the underlying momentum in footfalls across all our major markets and are gearing up with fresh collections and campaigns for the upcoming wedding season across the country,” it added.
Snapdeal-backed SaaS startup Unicommerce has submitted its draft red herring prospectus (DRHP) to market regulator SEBI, marking the fifth Indian startup to do so in recent weeks.
The SoftBank-backed startup intends to launch its initial public offering (IPO) exclusively through an offer for sale, without the issuance of any new shares. According to the Draft Red Herring Prospectus (DRHP), the startup’s current investors plan to sell up to 2.98 crore shares during the IPO.
SB Investment Holdings (UK) Limited, a subsidiary of SoftBank from Japan holding a stake of up to 29.23% in the startup, will be divesting the largest number of shares in the IPO, totaling 1.6 crore.
AceVector Limited, the parent company and promoter of Snapdeal, plans to divest up to 1.14 crore shares. Currently, AceVector holds a 38.18% stake in Unicommerce.
B2 Partners, holding a 9.95% stake in the startup, will divest up to 22 lakh shares in the upcoming IPO.
Unicommerce has decided against participating in a pre-IPO placement.
As the IPO is solely Offer for Sale (OFS), the proceeds generated will directly benefit the shareholders divesting their stakes.
Unicommerce’s H1 FY24 Performance:
Regarding the financials, Unicommerce reported a profit of INR 6.3 crore in the first half of FY24, with an operating revenue of INR 51 crore. The startup’s total expenses for H1 FY24 amounted to INR 45.5 crore, with employee benefit expenses being the biggest contributor at INR 34.5 crore.
Founded by three classmates at IIT Delhi—Ankit Pruthi, Karun Singla, and Vibhu Garg—Unicommerce was subsequently acquired by Snapdeal in 2015. The company offers a range of SaaS products designed to empower enterprises and small and medium businesses (SMBs) in effectively overseeing the entire post-purchase ecommerce operations journey.
It offers a comprehensive suite of services that includes a Warehouse and Inventory Management System (WMS), a Multi-Channel Order Management System (OMS), and an Omni-Channel Retail Management System (Omni-RMS). Additionally, it provides a Seller Management Panel specifically designed for marketplaces, known as Uniware. The suite also encompasses post-order services such as logistics tracking and courier allocation through UniShip, along with a Payment Reconciliation feature named UniReco.
In doing so, Unicommerce has joined the ranks of Ola Electric, Awfis, FirstCry, and MobiKwik, all of whom are capitalizing on the bullish trend in the Indian equities market as they seek to make their presence felt in the public markets.
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