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Luxury footwear industry in India faces challenges amid BIS certification issues

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SnackTeam
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footwear
(Representative Image)

The high-end footwear sector, which specializes in offering designer labels and luxury sports shoes, is facing upheaval. Manufacturers are expressing concerns that consumers might encounter difficulties purchasing the latest releases for the upcoming spring-summer season. This uncertainty arises from the fact that the Bureau of Indian Standards (BIS) has not certified factories in China and Vietnam, a prerequisite for permitting imports from these locations. Consequently, there is a risk that the footwear may be removed from retail shelves in the coming months.

The category of footwear, specifically leather shoes, has been subject to BIS Quality Control Orders (QCO) since July. For sports shoes, sandals, and slippers, the QCO has been implemented starting January 2024. According to QCO standards, all factories producing these products and certain specified key components like rubber, PVC, or polyurethane soles and heels must obtain BIS certification to import and sell such items.

The CEOs of five prominent brands, who preferred to remain anonymous, revealed that BIS has not certified the sourcing factories in China and Vietnam, which constitute a significant portion of the imported shoes for India. According to these executives, BIS officials have communicated their reluctance to certify factories in these markets. Moreover, they indicated that BIS will adopt a selective approach even for manufacturing units in Southeast Asia, including Thailand, Indonesia, and Malaysia. The concern is driven by apprehensions that some of these units may be owned by Chinese entities, similar to the situation in Vietnam.

“Government officials have said to import from Europe, which will involve higher manufacturing cost and freight, impacting the pricing strategy in India or to manufacture in the country where the expertise for high-end, designer and sports footwear is still limited,” said the chief of a leading shoe maker.

According to a high-ranking government official, the objective is to boost domestic manufacturing, given the substantial influx of substandard footwear from China. The Quality Control Orders (QCO) for 24 footwear and related products were officially announced in October 2020. Notably, the industry, particularly the larger and medium-scale players, has previously requested multiple extensions in response to these regulations.

Last month, there were reports that Nike had communicated with the government, urging the certification of supplier factories in Indonesia and Vietnam to maintain their import relationship. A representative from a prominent sports brand mentioned that they have successfully imported the stock for the upcoming spring season. However, they anticipate a potential impact on imports beyond that point if the certification issue is not resolved.

A significant number of premium and luxury brands import nearly their entire range of footwear, while brands such as Woodland, Puma, and Adidas acquire their high-end and technical shoes from international sources. The primary countries serving as major import hubs for these products include Vietnam, China, and a selection of Southeast Asian nations.

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Indian govt orders rice industry to lower retail prices immediately

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SnackTeam
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Basmati Rice
Basmati Rice (Representative Image)

The government has issued a directive to rice industry associations in India, mandating an immediate reduction in the retail price of rice, as stated in an official notification.

According to the release, recommendations have been made to the associations, urging them to rectify substantial gaps between the Maximum Retail Price (MRP) and the existing retail price. This adjustment aims to safeguard consumer interests and comes in response to reports indicating a notable increase in profit margins claimed by wholesalers and retailers.

To assess the current domestic pricing situation of non-basmati rice, Sanjeev Chopra, the Secretary of the Department of Food and Public Distribution, organized a meeting with prominent representatives from the rice processing industry on Monday.

“During the meeting, it was discussed that the benefit of lower prices has to be passed on expeditiously to the end consumers. The leading Rice Industry Associations were advised to take up the issue with their members and ensure that the retail price of Rice is reduced with immediate effect. There are reports of a sharp increase in the margins being availed by wholesalers and retailers which needs to be tempered. Besides, it was suggested that where there exists a wide gap between the MRP and actual retail Price, the same needs to be brought down to a realistic level in order to safeguard the interest of the consumers,” said the government release.

The rice processing industry was notified by FCI that an ample supply of high-quality rice is accessible, offered through the Open Market Sales Scheme (OMSS) at a reserve price of INR 29/Kg. Additionally, manufacturers and traders were advised to contemplate acquiring FCI rice under OMSS, allowing them to sell to consumers with a reasonable profit margin.

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Promoter entities of Sapphire Foods sell shares worth INR 530 Crore

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SnackTeam
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KFC

Two promoter entities of Sapphire Foods, the operator of KFC and Pizza Hut chains in India, executed block deals on Monday, selling shares worth INR 530 crore.

Sapphire Foods Mauritius offloaded 33.37 lakh shares, representing 5.24% of the overall equity capital, while Samara Capital Partners divested 4.49 lakh shares, amounting to 0.71% of the total equity, at an average price of INR 1,400 per share.

After the block deal, Sapphire Foods’ shares experienced a 3.65% decline, closing at 1,402.95. As of September 30, Sapphire Food Mauritius retained a 29.28% stake, and Samara Capital held a 0.71% stake. The Government of Singapore acquired shares amounting to 141 crore, and HDFC Mutual Fund bought shares valued at INR 308 crore.

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Devyani International set to operate KFC outlets in Thailand after $128.9 Million deal

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SnackTeam
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KFC
KFC

India’s Devyani International announced on Monday its plans to begin operating KFC outlets in Thailand. This move comes after the company acquired Restaurants Development Co in a deal worth $128.9 million, with the completion expected by March 2024.

The Thai restaurant operator oversees 274 KFC outlets in the Southeast Asian country, employing a staff of more than 4,500 people.

Devyani acquired the company through its Dubai unit, where it holds a 51% stake, while the remaining portion is owned by the Singapore-based private investment firm Temasek Holdings.

“Thailand is a strong poultry market in its basket of meat consumption and we believe there is an opportunity available for the market to grow even further,” the Devyani said in a statement.

The addition of this acquisition will expand Devyani’s portfolio beyond its existing 500 KFC outlets in India, Nepal, and Nigeria. Furthermore, the company manages various other quick-service restaurants (QSR) in India, including Pizza Hut and Costa Coffee.

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Bisk Farm taps actress Rashmika Mandanna as brand ambassador, eyes Southern India market

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SnackTeam
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Bisk Farm

Bisk Farm, the renowned biscuit and bakery brand under Saj Food Products, has enlisted actress Rashmika Mandanna as its brand ambassador. This strategic move is geared towards enhancing the brand’s nationwide reach and specifically targeting the southern Indian markets. Rashmika Mandanna will represent the ‘RUSKIT Brand,’ showcasing a diverse selection of crispy baked toasts across four variants.

Bisk Farm is actively consolidating its presence in the Rusk category, a key driver of the company’s overall revenue. By capitalizing on the opportunity to enhance the local Rusk with a touch of pedigree, BISK FARM RUSKIT has effectively gained substantial popularity among Indian consumers.

Vijay Singh, managing director of Bisk Farm, said, “We are delighted to welcome Rashmika Mandanna to the Bisk Farm family as our Brand Ambassador. Her undeniable charm and widespread appeal perfectly embodies the spirit of Bisk Farm – a brand synonymous with fun, freshness, and deliciousness. Her strong connection with the millennial audience makes her the perfect choice to represent our brand and further strengthen our presence in key markets. We look forward to an exciting journey with Rashmika as a key partner in shaping the narrative and engaging with consumers on a deeper level across the nation for substantial revenue growth.”

SAJ Food Products aims to attain a revenue of INR 5,000 crore by FY29, in line with its vision to transform its flagship brand, BISK FARM, into a truly national brand.

In conjunction with this announcement, Bisk Farm has also revealed an engaging 360-degree campaign that celebrates the perfect pairing of RUSKIT’s satisfying crunch with Rashmika Mandanna’s versatility and playful charm. The campaign introduces the celebrated actress as the protagonist named Meena Bhai—a feared don terrorizing a busy market. Taking viewers on a hilarious journey, Meena Bhai unveils magic in every cup with #TheresNoTeaWithoutRUSKIT.

Focusing on establishing a nationwide presence, SAJ Food is actively preparing for extensive market penetration, with a particular emphasis on pivotal markets in Karnataka and other southern states. In pursuit of its growth objectives and an extended footprint, SAJ Food inaugurated its sixth facility in Bengaluru, Karnataka, in March 2022.

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Starbucks opens first store in Talca, strengthening its presence in Southern Chile

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SnackTeam
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Starbucks

Alsea, Starbucks‘ licensed partner, has announced the opening of its first store in the city of Talca within central Chile’s Maule region.

The new café will represent the brand’s 160th store in this market.

Spanning across 190m², the latest Talca store has the capacity to accommodate 50 people and showcases a design by local artist Pepe, drawing inspiration from the city’s flora and fauna.

Starbucks Chile, Argentina, Uruguay and Paraguay marketing manager Soledad Fantuzzi stated, “We are thrilled to bring the Starbucks experience to consumers in Talca, further expanding our presence in southern Chile.

“Our store designers have created a space that pays homage to the historical charm of Talca, providing customers with a space for the meaningful moments of connection around coffee that so many of our customers enjoy.”

The upcoming store will provide guests with a variety of Starbucks favorites, such as the Caramel Frappuccino, flavored lattes, both hot and cold coffee blends, and a choice of bakery items.

Starbucks made its debut in the Chilean market in 2003 with the opening of its Santiago store. The upcoming Talca store will have a team of 13 Starbucks Chile partners.

Fantuzzi added, “Growing within the Chilean market is a priority for Starbucks. We have plans to open more stores in the coming years, aligning with our commitment to creating local job opportunities and delivering unparalleled experiences to our customers.”

In October 2023, Alsea declared an expansion of the brand’s presence in Colombia by inaugurating three stores in the city of Bucaramanga, the capital of the Santander department. This brings the total store count in the region to over 65.

Starbucks has established its presence in six Colombian cities, namely Barranquilla, Bogotá, Bucaramanga, Cali, Cartagena, and Medellín.

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EU to invest €50 Million to boost alternative protein production by 2024

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SnackTeam
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alternative protein

The EU is set to invest €50 million in 2024, aiming to facilitate the scaling up of alternative protein production by supporting start-ups. This initiative will employ innovative technologies, including precision fermentation.

As part of the European Innovation Council (EIC)’s Work Programme 2024, the €50 million investment is allocated under the EU’s flagship Horizon Europe program.

The objective is to enhance the sustainability, efficiency, and resilience of the European supply chain by offering assistance to small businesses operating in the alternative protein sector.

Precision fermentation is an innovative fermentation technique in which microorganisms, like yeast, are harnessed to generate authentic animal proteins, such as whey and casein, eliminating the need for animal involvement in the process.

These proteins frequently play a crucial role in imparting the taste and texture found in foods such as cheese, meat, and eggs. This enables companies to develop animal-free alternatives that successfully emulate the familiar qualities of their traditional counterparts.

Products like meat, eggs, dairy, and seafood produced through precision fermentation offer a substantial reduction in carbon emissions and are additionally free from antibiotics.

European companies employing precision fermentation for animal-free protein production include Paleo, a Belgium-based firm dedicated to creating species-specific myoglobin proteins for meat alternative applications. Recently, Paleo revealed plans for expansion into the plant-based pet food market.

The financial support, within the scope of the EIC’s Accelerator Challenge, is intended to bolster the creation of “viable alternatives that complement agriculture.” These alternatives aim to produce foods abundant in protein and other essential nutrients.

The work program emphasizes that these foods can be manufactured utilizing existing agricultural sidestreams, offering advantages such as alleviating pressure on natural resources like land and water.

Acacia Smith, senior policy manager at non-profit think tank the Good Food Institute Europe, said, “It’s excellent that the EIC has recognised precision fermentation’s game-changing potential to feed Europe’s growing population, improve public health and reduce our reliance on imports”.

She added, “It’s also very welcome that this funding aims to develop new ways of scaling up production – tackling Europe’s lack of infrastructure – and to look at other critical areas such as consumer acceptance, regulatory approval and supporting the entry of these foods into the European market.”

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How to Supplement Your Vitamin D Needs This Winter

By
Aashi Goel
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Vitamin D

Our bodies share a common challenge as winter’s cold embrace sets in and daylight becomes scarce. That challenge is making sure our bodies are getting enough Vitamin D. Sometimes referred to as the “sunshine vitamin,” it is essential for maintaining the strength of our bones and the health of our immune systems, among other aspects of our general wellbeing. But because the winter months bring fewer daylight hours and shorter days, it can be challenging for our bodies to get enough of it. The good news is that our bodies are designed to withstand this seasonal decline. Moreover, nature provides us with a wealth of resources to help us meet our basic needs.

Why is Vitamin D Important?

It serves a number of essential roles, and regulates more than 200 genes , which are crucial for our continued health, growth, and development. The two that are most important are probably those that control how much calcium and phosphorus are absorbed by the body and support healthy immune system operation. Here are a few other ways in which the sunshine vitamin supports our overall bodily functions. 

  1. Infections and autoimmune disorders like rheumatoid arthritis, type 1 diabetes, and inflammatory bowel disease may be more common in people with low levels of the vitamin.
  2. An increased risk of heart diseases, including hypertension, heart failure, and stroke, has been associated with low vitamin D levels.
  3. It may reduce the likelihood of viral infections and severe flu
  4. It has the ability to regulate mood and reduce depression
  5. It might also support weight loss
  6. A recent study published by Harvard School of Public Health also states that it has anti-inflammatory, anti-infection, and anti-cancer effects.

Sources of Vitamin D

5-10 Minutes in The Sun

A sunny weekend getaway or an exceptionally warm day are excellent chances to get some sun. The best source of vitamin D is exposure to sunlight—20 to 30 minutes a day, three times a week, without sunscreen for people with fair skin and longer for people with darker skin. Additionally, even though using sunscreen is usually the healthiest way to enjoy the sun, the secret to producing your own vitamin D is to go a short while without it. When applied as instructed, sunscreen with an SPF of 15 reduces the synthesis of vitamin D by 99%, so hold off before applying.

Mushrooms

White Button Mushrooms Vitamin D

The only plant-based food that naturally produces vitamin D are mushrooms. The highest nutrient content is found in wild mushrooms and those that have been exposed to UV light. Approximately one cup of raw, UV-exposed mushrooms is all you need to meet or surpass your daily requirement for vitamin D. Consuming UV-exposed brown cremini, portabella, maitake, and white button mushrooms on a regular basis is an excellent source of vitamin D.

Foods Fortified with Vitamin D

Many items in the grocery store have been enhanced with vitamin D, even though there are foods that are naturally high in the nutrient. These consist of both animal- and plant-based products. Vitamin D-rich fortified foods include milk, yogurt, orange juice, soy milk, and other nondairy milk substitutes.

Egg Yolk

Eggs Vitamin D

Another excellent source is whole eggs, which are also incredibly nutrient-dense. The white of an egg contains the majority of its protein, while the yolk contains the majority of its fat, vitamins, and minerals. A couple of eggs cooked will provide you with about 44 IUs of the vitamin, which is a good source of both protein and vitamin D for those on the go.

Vitamin D Supplements

Your risk of deficiency may increase depending on your lifestyle choices and where in the world do you live. For those who don’t get enough of it, such as housebound elderly individuals, people with dark skin, expectant and nursing mothers, and those with specific medical conditions like liver disease, cystic fibrosis, celiac disease, and Crohn’s disease, a daily supplement may be necessary.

So, this winter, continue to get your vitamin D from foods and supplements, and when the summer sun returns, think about revisiting your strategy.

Unlock the secrets to flawless poached eggs: 6 game-changing hacks for busy Monday mornings!

 

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American fashion brand Coach opens its first store in Gujarat

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SnackTeam
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Coach

American fashion brand Coach has opened its first store in Gujarat at Palladium Ahmedabad, as announced by a mall official in a social media post on Sunday.

“We are happy to announce another 1st for the vibrant state of Gujarat,” said Saurabh Garg, Assistant General Manager – Leasing, The Phoenix Mills Ltd. on LinkedIn.

“Coach is now operational at the Luxury Shopping Destination,” added Garg.

Established in 1941 by six artisans in New York, Coach began with the vision of skillfully crafting leather into both beautiful and practical items. Guided by the leadership of Lillian and Miles Cahn, the brand transformed into the Official American House of Leather, as indicated on the company’s official website.

The opening of its first store on Madison Avenue marked a significant milestone in the brand’s journey. Beyond leather goods, Coach became known for its distinctive lifestyle collections, drawing inspiration from the dynamic essence of New York.

According to the company’s website, Coach achieved a remarkable 71% reduction in carbon emissions and diverted more than 389 grams of waste in its efforts towards a zero-waste future.

The brand entered the Indian market in 2012 and conducts its operations through various marketplaces and stores, providing a range of new styles and authentic brands.

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

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SnackTeam
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Sainsbury's
Sainsbury's

UK and European supermarkets are increasingly providing a variety of own-brand holiday foods, ranging from roast duck to truffle crackers. This trend is driven by budget-conscious families who are opting to invest in Christmas meals at home while reducing expenses on gifts and dining out.

Due to inflationary pressures, households are reorganizing their budgets, giving priority to festive meals, according to executives and market analysts. Some grocery retailers see this as an opportunity to promote higher-priced offerings to consumers who are willing to indulge during the holiday season.

“The trend on groceries is strong,” Simon Roberts, CEO of Sainsbury’s, Britain’s second biggest grocer, told Reuters last month. “We’re set for a strong food Christmas.”

Sainsbury’s has expanded its premium food range, “Taste the Difference,” introducing 170 new Christmas food items. The additions include a ready meal for four featuring duck, potatoes, and cranberry sauce, priced at £28 ($36), as well as canapés like mini smoked salmon terrine slices for £3.75.

According to Barclays research, Britons anticipate spending approximately £105 more on Christmas this year compared to 2022. The primary contributing factor is expected to be festive food and drink, with an average increase of nearly £26.

Tesco, the leading market player in the UK, has increased its turkey purchases compared to the previous year, according to CEO Ken Murphy. The anticipation is that individuals will opt for staying in more and dedicating additional time at home with friends and family.

“I am doing a lot of hosting in the next couple of weeks, and we do prefer to do stuff at home – it’s just more relaxing,” said Robyn Asher, 55, as she shopped in a Sainsbury’s supermarket in East Dulwich, London.

“You can enjoy far better-quality wine at home since the markup in restaurants is excessively high,” she remarked. In her shopping cart were five bottles of wine and one of champagne for her family’s Christmas celebrations, taking advantage of the supermarket’s promotion offering a 25% discount for the purchase of six bottles.

James Simpson, the managing director of the champagne producer Pol Roger, expressed the expectation that while overall growth in champagne sales might decelerate in 2023, there is anticipation for robust sales during the Christmas season. This period tends to see even budget-conscious consumers indulging and treating themselves.

According to Kantar data covering the 52 weeks ending on November 26, Britons have purchased 3.9 million liters of champagne this year, reflecting a 9% decrease from the previous year.

In France, consumers are looking to reduce their overall Christmas expenditures this year, with the average budget decreasing by 19 euros compared to 2022, as per a survey conducted by Cofidis and CSA Research. The area where they intend to make the most significant cut is in gift spending.

Carrefour, the supermarket chain, is aiming to lure in shoppers with affordable prices, such as a 0.99 euro ($1.09) chocolate advent calendar. This is part of the introduction of 60 new own-brand Christmas food products by the retailer this year.

In response to shifting consumer behavior, supermarkets have expanded their offerings of alternatives to branded foods. A significant majority (78%) of consumers in France, Germany, Italy, Spain, and the UK, spanning various income groups, report switching to more affordable products or opting for lower-priced retailers, as revealed by McKinsey research.

Biedronka, the Polish supermarket chain, has highlighted that its own-brand chocolates and sweets, including gingerbread biscuits, are priced at least 20% lower than comparable products from major brands.

The Dutch supermarket Albert Heijn announced that its premium “AH Excellent” range features 200 holiday products this year, surpassing the offerings from 2022.

In Portugal, the supermarket Pingo Doce has introduced new additions to its “Iguarias” (delicacies) range, featuring items like a meat, chestnut, and vegetable puff pastry starter priced at 5.49 euros and truffle crackers available for 1.99 euros.

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