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The Original Rainbow Cone expands footprint with new franchise in Florida

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The Original Rainbow Cone

The Original Rainbow Cone, a US-based establishment, has unveiled plans to open a new franchise location in Key West, Florida.

The upcoming venue, set to be located at 126 Duvall Street, will feature Rainbow Cone’s signature ice cream treat, along with an array of sundaes, shakes, and cakes.

This expansion marks the second Rainbow Cone location in Florida, following the opening of a Bradenton franchise in September 2023.

The company also intends to launch additional franchises in Tampa Bay, West Palm Beach, and Orlando in 2024.

The Original Rainbow Cone third generation owner Lynn Sapp said, “We are excited about the growth of our franchise programme in Florida.

“The responses we have received from the Florida communities have been incredible, and we are confident that Key West will be no exception.”

Founded in 1926 by Grandpa Joe Sapp, The Original Rainbow Cone opened its first shop in a pink building on Western Avenue in Chicago.

Subsequently, the company has broadened its presence to include kiosks and trucks across the Chicago area.

In 2022, the company launched its new franchise partner program, securing franchise agreements in Florida, California, Nashville, and Texas.

In May this year, The Original Rainbow Cone and Buona inaugurated their first dual-branded store in Valparaiso, Indiana.

The dual-concept venue, covering 4,900 square feet, features twin drive-through lanes and has the capacity to accommodate up to 80 guests.

The Original Rainbow Cone is presently exploring opportunities to expand its presence, with upcoming plans for an ice cream truck tour from Chicago to Florida.

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Jamie Oliver unveils new restaurant at Ambience Mall in Gurgaon

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Jamie Oliver

British celebrity chef and restaurateur, Jamie Oliver, has unveiled a new restaurant at Ambience Mall in Gurgaon, as announced in a social media post by the company on Thursday.

The establishment will feature an array of culinary highlights spanning over 20 years of the celebrity chef’s career. It will present a diverse global cuisine crafted from sustainable ingredients. Operating with an all-day menu, the restaurant will also provide a selection of modern beverages, encompassing coffee, mocktails, and boba.

“It’s the first full format we’ve done in India. We did an all-veg one in Ahmedabad recently with no alcohol, but this is a veg, non-veg, bar, all-day dining,” said Jasper Reid, Managing Director, Dolomite Restaurants Pvt. Ltd., the India Master Franchise partner for Jamie’s Italian, Jamie’s Kitchen, Jamie’s Kitchen Cafe, Jamie’s Pizzeria and Jamie’s Diner.

“The new restaurant has every single best dish that Jamie ever cooked with a wider range than Jamie’s Italian, the emphasis is on handmade, fresh sauces, careful sourcing of ingredients, super service, amazing cocktails, amazing mocktails,” added Reid.

Reid also discussed the brand’s expansion plan, mentioning that another outlet is scheduled to open soon in Indiranagar on 12th Maine. Additionally, there are plans for 30 more restaurants, encompassing a mix of pizzerias, cafes, and kitchens, in the near future.

“We’re the largest player in the space now and are on track to the big target of INR 500 crore top line in a few years and we want to get up to 130 sites,” Reid said.

Operating within the Jamie Oliver Group, the Jamie Oliver Kitchen is part of a diverse portfolio of brands. These include Jamie Oliver Catherine St, Chequer Lane, Jamie’s Italian, Jamie Oliver’s pizzeria, Jamie Oliver’s Diner, Jamie’s Deli, and the Jamie Oliver cookery school, which spans across various regions in South America, Asia, and Europe.

As per the company’s official website, the brand has established its presence in various Indian cities, including Jalandhar, Chandigarh, Delhi-NCR, Lucknow, Mumbai, Navi Mumbai, Pune, Hyderabad, and Bengaluru.

The brand has over 15 restaurants in India, emphasizing a commitment to anti-junk, anti-processed food, and anti-preservatives.

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Lacoste debuts in Kerala, unveils trendsetting retail store in Kochi’s Forum Mall

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Lacoste

French casualwear giant Lacoste has entered Kerala, inaugurating its first retail store in Kochi, as announced by a company official on social media. The newly opened store is situated at Prestige Group’s Forum Mall in Maradu.

“Vanakkam Kerala! The first store of Kerala, now open at Kochi, Forum Mall,” said Abhishek Raj, chief operating officer of Lacoste India in a LinkedIn post.

The brand offers a diverse range of products, including clothing and accessories, leather goods, watches, sunglasses, perfumes, footwear, and underwear.

Lacoste began its retail operations in India in 1993 and has since established approximately 40 stores across 17 cities in the country over the course of three decades.

The company is looking to adopt a more assertive approach, with aspirations to launch approximately 50 standalone stores in the country over the next five years. Marcus Meyer, Chief Executive Officer of Lacoste for the Central and Northern European Region, shared this vision during his inaugural visit to India in an interview with IndiaRetailing.

Established in 1933 by the French tennis player René Lacoste and co-founder Andre Gillier, Lacoste is a renowned French clothing brand. It holds the distinction of being the first clothing brand globally to prominently showcase its logo on its apparel.

Presently, the company boasts a network of over 1,000 stores and 15,000 points of sale spanning 98 countries. Additionally, its products are accessible through 32 online stores worldwide.

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Amazon India’s seller base soars to 14 lakh with addition of 3 lakh new sellers in 2023

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Amazon
Amazon

Amazon India, a major player in the e-commerce industry, expanded its seller base to over 14 lakh by incorporating around 3 lakh new sellers this year, as mentioned by Manish Tiwary, the Country Manager for Amazon India’s Consumer Business.

Apart from the substantial increase in the seller base, Tiwary emphasized that Amazon experienced its largest-ever Prime Day and the Great Indian Festival this year.

“We are excited about the customer response we are seeing in core business categories like everyday essentials, consumer electronics, fashion & beauty, grocery, home and kitchen products as well as the momentum in our Prime program as well as Amazon Pay.”

According to information on Amazon’s blog, the e-commerce platform saw a 14% increase in Prime members shopping compared to the previous year, marking 2023 as the most significant Prime Day event in India. The blog further asserted that discounts from sellers, brands, and bank partners contributed to customers saving INR 300 crore during the Prime Day event.

Marking the year special as Amazon completed a decade in the country, Tiwary said, “It has been an incredible journey of innovating for customers and sellers, including many unique India first experiments – many of them are now going global.”

“We started the year with the launch of Amazon Air, becoming the first e-commerce company in India to have dedicated air-cargo capacity for faster delivery of customer packages, and followed it up by being the first in India to use Indian Railways Dedicated Freight Corridor to enable our seller serve customers faster and more efficiently.”

Noting Amazon’s emphasis on empowering small businesses and facilitating exports, he mentioned that the e-commerce behemoth has successfully digitized more than 6.2 million small enterprises, facilitating nearly USD 8 billion in total exports. Additionally, he asserted that Amazon has contributed to the creation of over 1.3 million direct and indirect jobs in India.

Amazon India has committed to digitizing 10 million small businesses, enabling USD 20 billion in cumulative exports, and creating 2 million jobs in India by 2025. Last month, the e-tailer signed an MoU with the Directorate General of Foreign Trade (DGFT) to co-create capacity-building sessions, training, and workshops for MSMEs across 75 districts.

Earlier this year, Amazon CEO Andy Jassy met with Prime Minister Narendra Modi and committed to an additional investment of USD 15 billion in India over the next seven years across various business domains. As a result, the company’s total investment in India, encompassing all its businesses, will reach USD 26 billion.

Expressing enthusiasm for the enduring potential in India, Tiwary emphasized that Amazon remains committed to its long-term vision. The company will persistently concentrate on key initiatives, including expanding the reach of online shopping among Indian customers, empowering small businesses and fostering exports, and actively contributing as a thought leader in sustainability.

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Meesho reports 14 Crore customer transactions in 2023, with 80% of orders originating beyond tier 2 cities

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Meesho
Meesho

E-commerce platform Meesho announced on Thursday that it facilitated transactions for 14 crore customers on its platform in 2023, with 80 percent of orders originating from tier 2 and beyond markets, as stated in a press release.

The home decor category experienced a 60% year-on-year growth, while the beauty and personal care segment saw a 40% increase.

Regarding sellers, Meesho asserted that 60% of its sellers hail from small towns. The company further stated that it successfully onboarded 25,000 non-GST sellers in the last two months.

The release highlighted that in 2023, approximately 75,000 Meesho sellers witnessed double-digit growth, with nearly 10,000 sellers achieving crorepati status and 130,000 becoming lakhpatis.

As per data from data.ai, Meesho registered 14.5 crore app downloads during the year.

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MiniKlub expands reach with grand opening of kidswear haven in Bhatinda

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MiniKlub

MiniKlub, India’s premier kidswear brand, is pleased to announce the grand opening of its latest retail venture in Bhatinda. This new establishment not only underscores MiniKlub’s dedication to quality, style, and comfort but also strategically poresitions itself to meet the diverse demands of parents in Bhatinda, becoming a sought-after destination for the latest in kidswear fashion.

The newly opened MiniKlub store is positioned as the ultimate destination for parents exploring the world of children’s fashion. Tailored to meet the requirements of parents with newborns to 8-year-olds, the store is meticulously crafted to provide a convenient and enjoyable shopping experience.

Anjana Pasi, Director of MiniKlub said, “We are thrilled to open our doors to the vibrant city of Bhatinda. MiniKlub is not just about clothing; it’s a celebration of childhood, and we are excited to bring our unique and stylish collections to the families of Bhatinda.”

Established in 2013, MiniKlub, a member of the First Steps Babywear family, has experienced rapid growth as an omni-channel brand. With a footprint extending to over 450 multi-brand outlets, leading e-retailers, as well as both physical and online exclusive brand stores, MiniKlub has established itself in 28 cities, boasting 65 exclusive brand stores. Infused with the joy of childhood, MiniKlub places a strong emphasis on comfort and safety in its designs, proudly embracing sustainable manufacturing practices to deliver high-quality products. Alongside a robust presence on e-commerce platforms such as Amazon, Myntra, Flipkart, and Ajio, MiniKlub caters to customers nationwide through its dedicated e-commerce platform, miniklub.in.

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EaseMyTrip enters hospitality sector, acquires 13% stake in Eco Hotels and Resorts

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EaseMyTrip

EaseMyTrip, a significant player in the traveltech sector, has acquired a non-controlling stake of around 13% in Eco Hotels and Resorts Limited through a share swap deal, signaling its entry into the hotel and hospitality industry.

“The company’s investment in equity shares of Eco Hotels India Private Limited is swapped with equity shares of Eco Hotels and Resorts Limited in the ratio of 1:1 and the company has acquired 40,00,000 equity shares of INR 10 each of Eco Hotels and Resorts Limited, issued on preferential basis,” said EaseMyTrip in a statement.

The startup stated that its key goal in the strategic investment in Eco Hotels is to obtain a minority stake and advance environmentally friendly practices within the hospitality sector.

EaseMyTrip asserted that every hotel managed by Eco Hotels will be carbon-neutral establishments.

Eco Hotels and Resorts Limited, a company listed on the BSE and promoted by Eco Hotels UK PLC, strives to emerge as a prominent owner, developer, and asset manager specializing in three-star premium and economy brands across the BRICS and N11 (Next 11) economies, with a primary focus on India.

At present, the hospitality company asserts the successful development of two brands, with one prototype Ecolodge currently operational in Kochi, Kerala.

In response to the acquisition, Nishant Pitti, EaseMyTrip’s co-founder and CEO, expressed that the strategic move underscores the online travel aggregator’s dedication to sustainable and responsible business practices.

“Our choice to invest in stakes aligns with our vision to contribute positively to the growth of eco-friendly and green hotels. This investment marks another milestone in our journey to diversify our portfolio and enhance the travel experiences we offer to our customers,” said Pitti.

It’s worth noting that over the past two years, EaseMyTrip has acquired several companies as part of its strategy to broaden its offerings and diversify its portfolio.

By 2:45 PM IST, EaseMyTrip’s shares were experiencing a slight uptick, trading at INR 38.32 on the BSE.

Meanwhile, V K Tripathi, executive chairman of Eco Hotels and Resorts, said on the stake acquisition, “This is not just a business decision; it’s a calculative move towards expanding our horizons and presenting guests with an elevated, ecoconscious, and luxurious experience that aligns seamlessly with our commitment to a greener and more sustainable future.”

In Q2 FY24, EaseMyTrip disclosed a 66% year-on-year (YoY) surge in its consolidated net profit, reaching INR 47 crore, with operating revenue experiencing a 31% YoY increase to INR 142 crore.

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Burger King hits a milestone with the grand opening of its 416th outlet in Bareilly

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Burger King

US-based hamburger chain Burger King has marked a milestone in India with the launch of its 416th outlet in the country.

Gaurav Singh, Deputy General Manager at Burger King, took to social media to announce the opening of the company’s 416th store in DD Puram, Bareilly. This significant milestone comes within the span of nine years since the brand commenced its operations in India.

“BurgerKing India now opens its 416th restaurant at DD Puram, Bareilly, Uttar Pradesh,” said Singh in a LinkedIn post.

In 2014, Burger King opened its first restaurant in India at Select Citywalk Mall, New Delhi. The chain achieved the milestone of opening its 100th outlet in Jalandhar in 2017, and subsequently, in 2019, it celebrated reaching a store count of 200. In 2021, Burger King introduced its cafe format, BK Cafe, at Churchgate, Mumbai.

Established in 1953 as Insta-Burger King, a restaurant chain based in Florida, Burger King underwent a change in ownership in 1954 due to financial challenges. David Edgerton and James McLamore, the franchisees based in Miami, acquired the company and subsequently renamed it ‘Burger King’.

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India extends import duty reduction on edible oils until March 2025 to counter soaring domestic prices

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Edible oil

In an effort to control local prices, India has issued a government order allowing the import of edible oils at lower tax rates until March 2025. As the world’s leading importer of vegetable oil, India is taking proactive measures to keep a check on domestic prices.

The original expiration date for the reduced import duty structure on crude palm oil, crude sunflower oil, and crude soyoil was set for March 2024. However, according to the recent order, refiners can now continue to import these oils at lower duties until March 2025.

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Cloud kitchen startup Kitchens@ secures $65 Million in Series C funding led by Finnest

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Kitchens@

Cloud kitchen startup Kitchens@ has successfully raised $65 million (INR 541 crore) in its Series C funding, with UK-based investment firm Finnest contributing to the funding round.

Utilizing the newly acquired funds, the startup plans to scale up its hybrid model, Dinerium.

Dinerium, combining casual dining with brand indulgence, is set to debut shortly. Featuring advanced booking and pre-ordering systems, it aims to streamline the dining experience, minimizing waiting times.

Earlier this year, Kitchens@ expanded its reach to six major cities and 45 locations by acquiring Swiggy Access Kitchen, thereby establishing a network of 700 kitchens.

Finnest, a BNP company established by Biswanath Patnaik and Arun Kar, has made investments across diverse sectors, including renewable energy, EV-hydrogen automotive, sports and entertainment, smart cities, aerospace technologies, and hotels and hospitality.

“Anticipating a substantial business turnaround in the coming years, especially with strategic partnerships in place with major entities like Swiggy and Beenext,” said Patnaik.

Junaiz Kizhakkayil (JK), founder & CEO of Kitchens@, elaborated on their restaurant roll-up plan, emphasizing the wealth of brand equity present within the Indian market.

He said, “The establishment of these brands has been a laborious journey, with dedicated individuals investing their hard-earned resources, time, and unwavering commitment. Today, we witness several such brands with the potential not only to dominate the Indian market but also to make a significant impact on the global stage.”

Loyal Hospitality currently operates and owns Kitchens@. The company secured $16.2 million in its Series B funding round in February 2020. Subsequently, in May of the same year, the startup raised an additional $2.6 million in venture debt from Trifecta Capital.

Founded in 2018 by Kizhakkayil, Bengaluru-based Kitchens@ began operations with initial seed capital from Zomato and later bought back the shares from the delivery giant in 2019.

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