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Renowned Chef Bill Granger passes away at 54, leaving a culinary legacy

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Bill Granger

Bill Granger, the cherished chef renowned for the acclaimed Bills cafes, passed away on Christmas Day at the age of 54.

The chef passed away in a London hospital, surrounded by family, after a brief struggle with cancer.

The family conveyed the heartbreaking news through Bill Granger’s Instagram account. “It is with great sadness that the family of Bill Granger announce he has passed away on 25th December at the age of 54. A dedicated husband and father, Bill died peacefully in hospital with his wife Natalie Elliott and three daughters, Edie, Inès and Bunny, at his bedside in their adopted home of London.”

Chefs globally paid homage to the Australian icon. Renowned British celebrity chef and restaurateur Jamie Oliver extended his sincere condolences.

“This is devastating news, I’m so sad to hear this, what a guy he was …. a wonderful human, kind calm soul….I admired everything he represented in food I remember the first time I met him many moons ago he couldn’t have been nicer and his food so good …. Sending so much love to all his family.” Food writer and TV star Nigella Lawson also paid tribute, “I’m heartbroken to hear this. So cruel,” she commented.

The news hit deeply Down Under, affecting chefs who had worked with him or been inspired by him, sharing their shock and sadness. Australian chef Neil Perry paid tribute to the “passionate cook and writer” but also the “brilliant person, husband, and father” that he was.

“I still remember all those years ago visiting Bills and seeing an energetic cook scramble divine eggs in that little kitchen in Darlinghurst, the beginning of something very special.” Sean Moran from Sean’s in Bondi commented. “Way too soon. What a class act you were Bill. Thank you for everything you have done to put Australian food on a global stage. You will be greatly missed.”

Born in Melbourne in 1969, Bill Granger initially pursued studies in art and architecture at university. However, at the age of just 24, he chose to leave his academic path and opened his first cafe, Bills, in Darlinghurst. The cafe achieved immediate success, propelling Bill to fame as Australia’s ‘King of Breakfast.’ His name has since become synonymous with his iconic dishes, including fluffy ricotta hotcakes with honeycomb butter, sweetcorn fritters with avocado salsa, and, of course, silky scrambled eggs.

His casual cooking style spurred the growth of casual and communal eating, both in Australia and around the world.

Bill and his wife, Natalie Elliot, are the driving force behind 15 cafes and restaurants globally, featuring four Bills cafes in Sydney and other venues situated in London, Tokyo, Osaka, Fukuoka, and Seoul. His 14 cookbooks achieved best-seller status, and numerous young Australians honed their culinary skills with a cherished copy of Bills Food or Simply Bill by their side.

In January 2023, he was honoured with the Medal of the Order of Australia for his contributions to the tourism and hospitality sector.

Bill Granger is survived by his wife, Natalie Elliott, and their three daughters, Edie, Inès, and Bunny.

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Delhi govt cracks down on illicit liquor serving at events, mandates advance registration for P-10 licences

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Liquor
Liquor

Following complaints about the illicit serving of liquor at banquet halls, farmhouses, and venues hosting events, parties, and wedding functions without obtaining the mandatory temporary P-10 licence, the Delhi government has directed the operators of such premises to register in advance with the excise department.

In a recent directive, the deputy commissioner (excise) mentioned that online registration, without any payment, will begin on December 25. “In case any excise violation is found on the premises, it may be debarred for at least three months from applying for P-10 permits in the first case,” the order stated. “In case of repeat violation, the premises would be debarred for one year.”

Temporary licences, referred to as P-10 licences, are intended for individuals to serve liquor at private parties. They can be acquired by paying INR 10,000, except for motels, banquet halls, and farmhouses, where the fee is INR 15,000.

A senior official stated that the enforcement team carried out random inspections at venues hosting weddings, related events, and private parties. Penalties were imposed on the host if alcoholic beverages were served without the required permit.

According to the data, 8,237 P-10 licences were granted during the five months of the festival and wedding season, spanning from October 1 to February 28 in the fiscal year 2022-23. In contrast, only 5,353 permits were issued in the seven months from March 1 to September 30 this year. During the festival season in October and November this year, only 1,716 P-10 licences were issued.

Officials mentioned that a large number of events, including those during Christmas, New Year, and wedding-related functions, took place during this period. However, only a few of them obtained the temporary licence.

In November, the excise department reissued instructions to the city’s restaurants, prohibiting them from applying for temporary licences to serve liquor.

Continue Exploring: Delhi govt bars independent restaurants from using P-10 liquor permits

While 935 hotels, clubs, and restaurants possess the excise licence to serve liquor, the count of standalone restaurants eligible to obtain a liquor licence is 5,374.

“These restaurants use the P-10 licence to buy stock from retailers instead of having a regular excise licence because of the higher fee as compared to the charges for the temporary permit. This leads to excise revenue loss to the state exchequer,” said an official.

“We also lose out on additional excise duty, which is up to 20 percent of the price of a bottle, on the sale of each bottle of alcohol sold to a restaurant with a regular licence,” the official added.

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Analysts bullish on Mufti menswear IPO: Robust financials and strong brand image fuel optimism

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Mufti

The much-anticipated debut of Credo Brands Marketing (Mufti Menswear) is set to take place on December 27. Analysts foresee substantial double-digit gains upon listing, pointing to the healthy financial performance in recent years, a strong brand image, robust subscription numbers, reasonable valuations, and positive market conditions.

The INR 550-crore public offering has garnered strong interest from investors, being subscribed 51.85 times between December 19-21. Qualified institutional buyers (QIBs) appear notably optimistic compared to other investors, oversubscribing their allocated portion by 104.95 times. In parallel, the allotted quota for high net worth individuals (HNIs) witnessed a subscription of 55.52 times, while that of retail investors reached 19.94 times.

Shares of the Mufti IPO have garnered substantial interest in the grey market, reportedly trading at approximately 35-40 percent above the issue price of INR 280 per share, as per anonymous analysts. The grey market serves as an unofficial platform where IPO shares can be bought and sold until the official listing.

Dhruv Mudaraddi, a research analyst at StoxBox, anticipates the stock to debut with a premium of about 45 percent over the issue price of INR 280 per share.

He is of the opinion that Credo’s robust listing performance can be credited to its unique combination of strengths.

“The company’s qualitative advantages include a strong brand equity spanning a diverse product range, safeguarding against business model risks. Operating on a scalable and asset-light model, MUFTI demonstrates flexibility for expansion with minimal capital investments,” Mudaraddi said.

Furthermore, the brand’s steadfast position as a trailblazer in men’s fashion and its robust in-house design capabilities create significant entry barriers, given that the company outsources all its products post-designing and does not engage in manufacturing.

From a financial perspective, Mufti has disclosed a commendable Compound Annual Growth Rate (CAGR) of approximately 42 percent for revenue from FY21 to FY23. The net profit has doubled compared to the preceding year, showcasing a substantial increase compared to FY21. Additionally, the EBITDA witnessed a CAGR of 84 percent during this period, demonstrating robust margin performance.

Saral Seth, Vice President of Institutional Equities, and Jainam Shah, Research Associate at Indsec Securities, believe that Credo could be listed at INR 350, representing a 25 percent increase from the issue price.

At the higher price bracket of INR 280 per share, the company is being valued at a Price/Earnings (P/E) ratio of 23.22x, resulting in a market capitalization of INR 1,800.4 crore post the issuance of equity shares. The return on net worth stands at 29.98 percent.

Indsec holds the view that the valuation represents a 35 percent discount compared to its peers.

“The strong earnings growth makes the apparel maker an attractive investment thesis.”

Credo Brands Marketing, providing a diverse range of products encompassing shirts, t-shirts, jeans, and chinos to address year-round clothing requirements, maintains a network of 1,807 touchpoints, extending its presence to 591 cities.

The Mufti Menswear IPO solely consisted of an offer-for-sale issue, lacking any fresh issue component. Consequently, all the net issue proceeds were received by the selling shareholders.

The price band for the offer was between INR 266 and INR 280 per share.

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Karigari unveils exquisite new venues in Punjabi Bagh, Dehradun, and Bengaluru

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Karigari

A celebrated name in Indian gastronomy, Karigari Restaurant has announced the opening of its latest branches in Punjabi Bagh, Dehradun, and Bengaluru. Spearheading this initiative is Chef and culinary maestro Harpal Singh Sokhi, assuring a modern reinterpretation of classical Indian tastes.

The warm and welcoming atmosphere of these venues has been meticulously designed to offer diners an authentic culinary experience that pays homage to the rich tradition of Indian cuisine.

Sokhi expressed his happinessat the expansion, saying, “We are thrilled to bring the Karigari experience to the thriving communities of Punjabi Bagh, Dehradun, and Bangalore.” Our culinary philosophy is around the inventiveness of Indian flavors, and we are eager to share our passion with fellow food enthusiasts.”

By adding additional locations in Dubai and London, Karigari is not only growing domestically but also leaving its imprint abroad. This expansion offers a new gastronomic experience in addition to signifying the brand’s growing reach.

The innovative methods, dishes, and desserts enhancing the dining experience will be showcased in the new outlets, featuring a blend of classic and modern elements.

Regarding the worldwide expansion, Chef Sokhi stated, “We’re not done yet. We aim to spread the Karigari spirit to a global audience, showcasing the authentic flavours and inventive cooking that define Indian cuisine. Our global culinary journey doesn’t stop in London or Dubai.”

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Bata enhances customer experience through Easyrewardz’s Zence CRM for ‘BataClub’

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Bata
Bata

Global footwear brand Bata has joined forces with the comprehensive customer lifecycle management (CLM) platform Easyrewardz to utilize the latter’s ‘Zence’ customer relationship management (CRM) solution stack for its loyalty programme, ‘BataClub.’

The collaboration enables the monitoring of customer visits, improvement of service experiences, and the promotion of loyalty through tailored offerings and delightful services. It also incorporates diverse features into Bata to amplify customer engagement, employing LPaaS to create personalized loyalty journeys and encouraging active participation via WhatsApp.

“Our CRM and loyalty solutions seamlessly manage the entire customer journey, from initial acquisition to continued engagement and retention offering an optimal shopping experience for Bata’s customers,” said Soumya Chatterjee, chief executive officer of Easyrewardz.

“With the Zence CRM stack, we’ve equipped Bata International with advanced capabilities, providing a unified view of each customer across multiple locations. This enables personalised and attentive service, ensuring that every interaction with the brand is tailored to meet the unique preferences and expectations of Bata’s diverse customer base,” she added.

Easyrewardz has additionally assisted in establishing a microsite for Bata. This microsite empowers customers by providing access to personalised dashboards, the capability to refer friends and family, and the opportunity to unlock rewards.

“Bata and Easyrewardz are thrilled with the introduction of the “BataClub” program. This initiative was designed keeping in mind the values on which Bata was founded over 130 years ago,” said Geoffroy Berthon, global customer experience director at Bata.

“As a global group, we believe in respecting different cultures, and thus we have a unique set of customers with diverse needs and expectations. We are delighted to have chosen Easyrewardz as our partner in this journey to improve Customer lifecycle management to delight and reward customers,” he added.

Bata Corporation, a manufacturer and retailer of footwear, apparel, and accessories, was established in 1894 by Tomas Bata. The company, headquartered in Switzerland, was incorporated in India as Bata India Ltd in 1931.

Today, the Bata Group has more than 32,000 employees, 21 production facilities, and over 5,300 stores in more than 70 countries across the globe. The company operates over 1,700 COCO (company-owned, company-operated) and franchise stores in India.

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Les Petits unveils Lapin House in India, redefining children’s fashion landscape

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Lapin House

In a festive celebration of Christmas, Les Petits, the luxury fashion brand for kids, has introduced Lapin House in India. The collection, exclusively available on the Les Petits platform, beautifully captures the spirit of the season, presenting whimsical fashion that makes a statement.

With a fusion of luxury, comfort, and dependability, Lapin House delves into the designer’s ingenuity with exclusive tartan, check, and floral prints, complemented by a range of stripes. The collection leaves a lasting impression, empowering parents to inject playful elements into their children’s wardrobes.

Showcasing subtle tones of pink and green alongside vibrant shades of red and maroon, the collection presents a diverse colour palette to complement the varied moods of the season. Meticulous attention to detail takes precedence as the brand adopts aesthetics in harmony with the latest trends. The intricately crafted pieces seamlessly blend classic appeal with contemporary trends, elevating the charm of haute couture. Encompassing every facet of children’s fashion, the garments are woven from the finest fabrics, emphasising sustainability and durability while embracing the latest fashion trends.

Swati Saraf, President, Les Petits said, “Winter is always considered to be a dull season. Parents generally struggle to find the right set of attire to ace the fashion of children while keeping them warm. To cater to the diverse needs of parents, we added Lapin House to our offering to amplify the charm of the children with the latest fashion. Disseminating a playful twist to the overall demeanor of the kids, the brand also exudes elegance for offering complete packaging to the kidswear fashion.”

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Zoca Diner opens in Karol Bagh, unleashing a fusion of flavours and vibrant ambiance

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Zoca Diner

Zoca Diner, well-known for its vegetarian delights, proudly opens its expansive outlet in the affluent district of Karol Bagh. Encompassing 1200 sq. ft. and catering to 60 patrons, the diner establishes itself as a culinary haven for food enthusiasts in search of an extraordinary dining experience.

The gastronomic scene in West Delhi is set to undergo a metamorphosis with Zoca Diner, showcasing a thoughtfully curated menu by the esteemed Chef Eashan Kaul. From the tempting Vegetable Flautas and Makhni Momos to the indulgent Creamy Pasta and inventive Blueberry Bubble Tea, Zoca Diner assures a varied culinary journey for a spectrum of palates.

Zoca Diner’s dedication to affordability, combined with Chef Eashan Kaul’s culinary proficiency, guarantees a harmonious blend of quality and cost. The diner’s welcoming ambiance, enhanced by live performances and captivating music, establishes it as the perfect setting for gatherings with family, friends, or colleagues. Through its fusion of culinary artistry and a convivial atmosphere, Zoca Diner aspires to be the favoured destination for relaxation and socialising in the heart of Karol Bagh.

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RBZ Jewellers prepares for market debut with modest listing gains expected

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RBZ Jewellers

Ahmedabad-based RBZ Jewellers is gearing up for its market debut on December 26. However, preliminary signals from the grey market hint at modest listing gains for the company, as the stock holds a premium of INR 5. This suggests a nominal 5 percent increase upon listing.

The firm’s initial public offering (IPO) attracted significant attention from investors, recording a subscription rate of 16.86. Retail investors displayed the highest enthusiasm, oversubscribing their allocated quota by 24.74 times. High net-worth individuals subscribed 9.27 times the reserved portion, while qualified institutional buyers opted for 13.43 times their allocated shares.

The firm’s initial public offering (IPO) attracted significant attention from investors, recording a subscription rate of 16.86. Retail investors displayed the highest enthusiasm, oversubscribing their allocated quota by 24.74 times. High net-worth individuals subscribed 9.27 times the reserved portion, while qualified institutional buyers opted for 13.43 times their allocated shares.

“We expect a decent listing for RBZ Jewellers’ issue. We anticipate the IPO to open at a premium of around 5 percent to the issue price of Rs 100 apiece,” said Prathamesh Masdekar, Research Analyst at StoxBox.

Masdekar emphasized the firm’s clientele in the wholesale sector, encompassing esteemed national, regional, and local family jewellers spanning 20 states and 72 cities in India. He commends the company’s distinctive approach in its business model, exercising full control over the entire value chain.

Furthermore, Masdekar advises investors who have been allotted shares to retain them with a medium to long-term perspective.

Nevertheless, apprehensions regarding the company’s limited disclosure to credit rating agencies such as Brickwork and CRISIL in recent years underscore governance issues. These concerns may have also impacted the demand the company experienced in the grey market.

Regarding financials, the company achieved a 55 percent year-on-year surge in net profit, reaching INR 22.33 crore for the fiscal year 2023, supported by robust operational performance.

During the corresponding period, the revenue reached INR 288 crore, marking a 14.2 percent increase from the preceding fiscal year. Simultaneously, the EBITDA experienced a significant rise, surging by 41 percent to INR 37.8 crore. The operating margin also saw a substantial expansion, increasing by 249 basis points on a yearly basis to 13.11 percent in the same period.

The net profit for the initial six months concluding in September of FY24 amounted to INR 12.09 crore, with revenue totaling INR 125.5 crore.

Narendra Solanki, the head of fundamental research at Anand Rathi Shares and Stock Brokers, is of the opinion that at the higher end of its price range, which is INR 95-100, the company is reasonably valued with a price-to-earnings (P/E) ratio of 17.9X and a market capitalization of INR 400 crore post its listing.

Nevertheless, amid existing concerns, Solanki also recommends that investors retain their allocated shares in the company based on their risk appetite.

The jewellery manufacturer intends to utilise the new funds primarily to meet working capital needs amounting to INR 80.75 crore. The residual funds will be allocated for general corporate purposes, not exceeding 25 percent of the gross proceeds.

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Kolkata restaurants boom as December sets new sales and footfall records

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Restaurant
(Representative Image)

This December, dining establishments along Park Street and throughout shopping malls in Kolkata have experienced a notable increase in visitor numbers, reaching its peak on Christmas Eve. As a considerable number of prominent restaurants have chosen to extend their operating hours on various nights this month, proprietors are expressing that this has proven to be their most successful December to date in both sales and footfall.

As per Sudesh Poddar, the National President of the Hotel and Restaurants Association of India (HRAI), there has been a rise of 8 to 10 percent in the sales of both food and liquor. In terms of value, the increase has been 15 percent, attributed to the escalation in prices of food and beverages over the past year.

“We have taken late closure since December 23. Liquor is being served till 1am while the restaurants remain open till 2am,” said Nitin Kothari, owner of Mocambo, Peter Cat and Peter Hu?, adding this was surely one of the best Decembers in recent years.

His dining establishments along Park Street have consistently been at full capacity for almost every day over the past three weeks. Kothari anticipates that this pattern is likely to persist.

“Interestingly, this time there is no slump period. We are witnessing packed house even at 4-4.30pm which used to be a bit dull,” he added.

Anjan Chatterjee, the chairman of Speciality Restaurants, which includes brands such as Mainland China, Asia Kitchen, Café Mezzuna, Haka, Hopi Pola, and Barishh, expresses satisfaction with the sales and footfall for this month.

“We had late closing time at all our restaurants. This was up to 2am for more liquor centric brands while for family brands it was 1am. I should say Kolkata is the top food destination now,” he added.

Charles Mantosh, proprietor of prominent restaurants such as Waldorf, Magnolia, and Floriana, is of the opinion that life on Park Street is exceptionally positive this year.

“Thanks to the state for a good Park Street festival, this year’s crowd is even more. Even at midnight, you could see 5,000 people here. All our restaurants had late closing. Not only for the post-Covid period, I feel this is one of the best Decembers ever,” he added.

Debaditya Chaudhury, managing director of Chowman, Oudh 1590 & Chapter 2, said, “We witnessed rising sales since December 20 and have also seen a rise in deliveries.”

Pradip Rozario, proprietor of KK’s Fusion, concurred. Moloy Dutta, a partner at Opium Bar & Restaurant, remarked that Sector V experienced a significant increase in footfall this year.

“Christmas Eve was really good. Thanks to the newly opened walking street,” he added.

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Finland’s Valio to enhance frozen product processing with €10 Million investment

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Valio

Food company Valio is currently underway with the construction of a new pre-processing facility at the former freezer storage of the Suonenjoki production plant. This substantial investment, surpassing €10 million, is geared towards enhancing the pre-processing of frozen berries, fruits, vegetables, and herbs within the plant. The objective is to elevate predictability in production and improve raw materials management. Anticipated to be operational in 2025, the new automated preprocessing facility is poised to significantly augment Valio’s production capabilities.

Construction of the new preprocessing facility at Valio’s Suonenjoki plant began in December 2023. The upgrade will expand the preprocessing area by several hundred square meters, and a new melting system for frozen products will be introduced to improve and facilitate the handling of frozen raw materials at the start of production. Importantly, the construction work will not impact the plant’s operations.

“The investment will also bring new technology to the plant, enabling it to raise the temperature of frozen raw materials from the -20°C during transport and storage to the product processing temperature of -2°C in a matter of a few minutes. Additionally, new automation will facilitate the handling of heavy, frozen raw materials. This will significantly increase the efficiency and speed of the plant’s production and bring flexibility to the manufacturing of products,” noted Suonenjoki Plant Manager Markku Ihasalo.

The robotics technology slated for integration into the new pretreatment facility is anticipated to bring about a notable reduction in physically strenuous tasks. Such advancements are expected to positively influence the well-being and work resilience of Valio employees.

Markku Ihasalo continues, “The growing pretreatment and production area and the upgraded process technology will allow us to develop and expand our plant’s operations. This is an important investment in the future of the Suonenjoki plant and also a vote of confidence in our work.”

The Suonenjoki plant of Valio stands as the largest jam facility in Finland, producing an extensive array of jams, marmalades, cream fillings, purees, and flavoured oils. Its production caters to both Valio’s own product line and supplies other food companies, including bakeries. The plant is involved in processing approximately 500 different raw materials, ranging from exotic fruits to Finnish berries.

The berries delivered to the Suonenjoki plant arrive frozen, and the fruit is typically prechopped or subjected to other forms of preprocessing. Once the raw materials are thawed after being melted, they undergo further preprocessing, such as pureeing, sieving, or chopping. Depending on the specific product, additional elements like flavorings or gelling agents may be introduced to the berry and fruit raw materials.

“For example, we make vanilla creams for bakeries, Valio AURA cheese filling for ready-made meatballs and butterscotch filling for doughnuts. We also make the berry, fruit, vegetable and herb preparations used to flavour all Valio’s yoghurts, fresh cheeses and quarks,” notes Markku Ihasalo.

The Suonenjoki plant has a workforce of approximately 100 individuals involved in various aspects, including product production processes, raw materials receiving and handling, and product development. The plant’s product development division introduces dozens of new and seasonal products annually, and custom development work is undertaken for bakeries and other clients. About 85% of the plant’s production is dedicated to Valio’s yoghurts, flavoured quarks, and other snacks. The majority of these products are distributed to Valio’s facilities in Riihimäki, Oulu, and Seinäjoki, while purees are supplied to Valio’s Pitäjänmäki juice plant. The remaining output is sold to food industry companies in Finland and overseas through Valio’s B2B and Food Service sales channels.

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