Shoppers Stop betting big on beauty segment, targets to open 100 stores

News

By

-

December 13, 2023

Shoppers Stop is placing a significant emphasis on its beauty segment, actively expanding its standalone specialty beauty stores, incorporating shop-in-shops within its department stores, and forming distribution partnerships with renowned global luxury brands. With the objective of deriving approximately 25% of its upcoming revenues from the beauty business, the company is intensifying its presence in this market.

At present, the company operates 13 standalone specialty beauty stores branded as SS Beauty. It is scheduled to inaugurate a spacious 3800 sq ft store at Bangalore International Airport Terminal 2 later this month, with plans for another substantial 9000 sq ft store in Kolkata set to open in March.

Biju Kassim, Customer Care Associate and CEO of Beauty, Shoppers Stop said, “Our desire is to have 3-5 large format flagship stores under SS Beauty. We also expect to have 30-35 mid size format stores and 40-50 small format stores. Our aimbition is to eventually have upto 100 stores in the few years. We want to ensure that this expansion is done in a sustainable manner with a strong focus on profitability.”

Talking about the strategy to open large format flagship stores, “ These large format stores will offer the best beauty brand assortment and presentation. So for instance, in terms of education, we are on track to do one million makeovers and master classes this year. So the store will focus on leveraging on various elements to deepen consumer engagement,” he added.

As the company extends its department store network, it will also increase the presence of beauty shop-in-shops.

“We will add 15-20 department stores every year. So besides the standalone beauty store expansion, the footprint of our beauty shop-n-shops will also grow. So overall, we have a very robust plan in the beauty space,” he added.

At the group level, the current contribution of revenue from the beauty segment stands at approximately 18 percent for the company.

“We believe the beauty space has a strong potential especially in post-Covid times when consumers engagement in this space has increased signficiantly. We think this contribution will grow to 20 per cent in the near future and our desire is to further grow it to about 25 per cent. Given the low per cap consumption, we believe the combination of engagement and education will enable the beauty segment consumption to see strong growth in the coming years,” he added.

The company has been expanding its distribution partnerships with global beauty brands, exemplified by the recent introduction of NARS Cosmetics.

Continue Exploring: Nars Cosmetics debuts in India, set to unveil first boutique in New Delhi this November

“We have a strong portfolio of global brands and continue to look for opportunitie to grow the distribution business. For instance : We currently distribute fragrances of brands such as Armani, Prada and Valentino. These brands will also be launching their make-up lines by March-April,” Kassim explained.

Swiggy facilitates INR 102 Crore worth of loans to delivery partners in one year

News

By

SnackTeam

-

December 13, 2023

0

Swiggy, the prominent online food delivery platform, reported on Tuesday that it has been instrumental in facilitating the distribution of loans totaling INR 102 crore over the past 12 months. Impressively, a noteworthy sum of INR 10.1 crore was disbursed in November alone.

Swiggy has collaborated with Betterplace and Refyne to facilitate the provision of these loans.

Delivery partners are not restricted in the number of loans they can apply for, as long as they uphold a positive repayment track record. This policy has empowered delivery partners to secure loans, on average, up to three times throughout their association with the platform, as stated by the company.

“Our loans initiative isn’t just a programme, it’s another way of looking out for our delivery partners. Personal emergencies, needs, and aspirations often need quick access to funds. We’re glad that our delivery partners trust Swiggy for having their backs” Mihir Shah, Head of Operations, at Swiggy, said in a statement.

Swiggy has recently unveiled the Hospicash policy in collaboration with Reliance General Insurance.

The policy provides coverage to the delivery partner in circumstances such as death, partial or temporary disability, and hospitalization.

The premium for this policy is established at a nominal 1% of the loan amount.

Swiggy additionally provides extensive assistance to educate and raise awareness among its delivery partners regarding both the Hospicash policy and the loan application process.

New loan applicants receive assistance through informative messages, confirmation of loan details, and support in document submission. The company also intends to educate individuals with reservations about taking loans.

Furthermore, Swiggy stated that a specialized Central Insurance team, in conjunction with the Loan service and Insurance customer service team, is accessible to address any concerns or complaints.

ITC’s FMCG business soars with 14% CAGR over 3 years, Aashirvaad brand hits INR 8,000 Crores in consumer spends

News

By

SnackTeam

-

December 13, 2023

0

Over the past three years, the FMCG segment of the diversified conglomerate ITC has seen substantial growth, with a compounded annual growth rate of 14 percent. Additionally, the Aashirvaad brand, within this business, has achieved consumer spends totaling INR 8,000 crores, as highlighted in a company presentation.

ITC is “one of the fastest growing FMCG Businesses in India” with rapid scale in revenues, which is largely “driven by brands developed in-house”, ITC in an investor presentation released on Tuesday.

ITC reported that its FMCG products now have a presence in three out of every four households in India.

The foods business of the company has maintained a compounded annual growth rate (CAGR) of 13 percent over the past decade, experiencing a threefold increase in the last ten years.

ITC announced that the Sunfeast brand has surpassed INR 5,000 crores in terms of consumer expenditures.

Furthermore, the snacks brand Bingo, instant noodles under the Yipee label, Agarbatti brand Mangaldeep, stationery brand Classmate, and spice brand Sunrise have all crossed INR 1,000 crore in terms of consumer spends.

The company calculates annual consumer spend by combining the consumer expenditures on its goods. This includes the net sales turnover of the brands, along with channel margins and taxes.

ITC has expressed its commitment to enhancing Aashirvaad’s presence in the kitchen through adjacent offerings. Presently, the brand offers a variety of products, including atta, ghee, salt, spices, and instant mixes.

The company is currently elevating consumer choices by introducing additional products, thereby creating new avenues for value addition.

Launched by ITC in May 2002, the brand has since risen to become the leading choice for branded packaged atta nationwide.

With a portfolio boasting more than 25 world-class mother brands in the FMCG segment, the company has achieved a consumer spend of INR 29,000 crore in FY 23.

Over the past three years, ITC introduced 300 products in the FMCG segment.

Its overall reach now spans 7 million outlets, with a direct outreach to 2.6 million households.

The company is expanding the MasterChef brand and nurturing the development of chocolates.

In the personal wash category, ITC mentioned that it is a INR 24,000 crore industry with the presence of 3,000 brands.

The Fiama brand is heavily represented in modern distribution channels. Additionally, Savlon, the hygiene brand acquired in 2015, has witnessed nearly a tenfold growth in the past six years.

Healthify and Swiggy collaborate to bring tailored, AI-recommended meals to users

News

By

SnackTeam

-

December 13, 2023

0

Healthtech startup Healthify, formerly known as HealthifyMe, has partnered with the foodtech major Swiggy to enhance meal delivery services. Furthermore, the company is actively focusing on amplifying its presence in the enterprise vertical, with plans for substantial growth in that sector.

As part of this collaboration, users can now order diet-aligned meals recommended by Healthify’s AI coach Ria through Swiggy. Within the Healthify app itself, customers have the convenience of placing their meal orders seamlessly.

“With Ria’s smart dietary recommendations, users can effortlessly order aligned meals through the Healthify app, simplifying sticking to a healthy diet,” the startup said in a statement.

This feature is set to be accessible to Healthify Smart subscribers from December 15 onwards.

During the ‘Ignite’ annual event in Bengaluru, Healthify’s co-founder and CEO, Tushar Vashisht, highlighted the commercial nature of the partnership. Nevertheless, the startup refrained from disclosing details about whether the collaboration involves a revenue-sharing model.

“Our advancements in AI-powered photo-tracking with Snap and our strategic partnership with India’s top food delivery app, Swiggy, represent significant milestones in making healthy living accessible and actionable,” Vashisht added.

During the event, the startup unveiled the introduction of Coach Co-Pilot, an AI-powered health platform designed to assist users in analyzing and managing their dietary, fitness, stress, and sleep patterns. The platform provides personalized plans tailored to individual user needs.

Users of Healthify will have the capability to engage in conversations with the AI coach, Ria. This AI feature, working in tandem with Healthify’s team of human coaches, facilitates users in tracking nutrition by analyzing pictures of their food.

Within the company’s B2B vertical, Healthify has existing collaborations with various companies, such as AWS and HCL. The company intends to expand its partnerships with additional enterprises and, as a strategic move in its B2B initiative, aims to enhance its corporate wellness programs and apps to strengthen its foothold in the enterprise sector.

In FY23, Healthify experienced a notable 10% reduction in losses, decreasing from INR 157 Cr in FY22 to INR 42 Cr. Simultaneously, the company achieved a significant increase in total revenue from operations, reaching a record INR 228 Cr compared to INR 185.25 Cr in FY22.

Vashisht stated that the startup is progressing towards achieving a modest double-digit growth in revenue for FY24.

Established in 2012 by Vashisht, Healthify utilizes AI to produce tangible outcomes in areas such as eating habits, fitness, and weight management. It achieves this by monitoring lifestyle factors and offering access to coaches, among other advantages.

Serving over 40 million users in over 300 cities, the startup has secured a total funding of $130 million from notable investors such as Khosla Ventures and Leapfrog, among others. Within its user base of 40 million, 250,000 are paying subscribers, and the platform boasts a roster of over 1,000 coaches.

Doritos teams up with Empirical, unveils innovative ‘chip-inspired’ alcoholic beverage!

News

By

SnackTeam

-

December 12, 2023

0

Doritos is banking on a novel approach to captivate individuals with their tortilla chips: incorporating alcohol.

The brand owned by PepsiCo is launching a fresh spirit inspired by Doritos’ nacho cheese flavor, described as “authentic in taste” in a press release. Collaborating with Empirical, a Danish company renowned for crafting unique spirits with inventive flavors, the chip maker is introducing this innovative product.

Exclusively accessible through online channels, the limited-edition flavor becomes available for purchase on Wednesdays in New York and California, with a price tag of $65 for a 750ml bottle.

This marks another unconventional offering in the realm of food-related products from major brands. Not long ago, Kahlúa and Absolut Vodka collaborated on a fragrance capturing the essence of an espresso martini, while Dunkin’ transformed its iced coffees and teas into canned cocktails. Additionally, Arby’s ventured into the spirit world by turning its iconic curly and crinkle fries into vodka and crafting a smoked bourbon designed to complement its roast beef.

The goal of these offerings is to arouse customers’ curiosity, ignite conversations, and elevate brand recognition. Essentially, it’s a marketing tactic cleverly masquerading as a retail product. Nevertheless, one shouldn’t anticipate a substantial boost to Pepsi’s bottom line from these ventures.

Doritos and Empirical are characterizing their partnership as a “first-of-its-kind innovation for both brands.” The spirit was crafted in Empirical’s laboratory, utilizing a production technique that involved using Doritos chips and maintaining their “essence through vacuum distillation.” According to the spirit maker, this method preserves more of the authentic Doritos flavor when compared to conventional approaches.

The spirit’s flavor “opens with umami and tangy aromas of nacho cheese, moving to the deeper, corn-forward flavors of the chip to finish on a soft salty note,” the company said.

As it is a flavored spirit and not confined to a specific liquor category, Doritos suggests blending it with tequila or mezcal for a unique take on a Bloody Mary or a Margarita. Alternatively, the spirit can be enjoyed on its own or over ice.

“While the flavor may seem wacky, the collaboration has novelty value, and it is likely a lot of people will be interested enough to try it out,” said Neil Saunders, retail analyst and managing director at GlobalData Retail. He added that Empirical and Doritos are both known for “being playful and fun.”

“Consumers are in the mood to test new things and are looking for products that are interesting and a bit different from the run of the mill,” he said.

Torchy’s Tacos joins hands with Uber Eats for a nationwide delivery rollout in the U.S.

News

By

SnackTeam

-

December 12, 2023

0

Uber Eats has formed a delivery collaboration with Torchy’s Tacos, a restaurant chain based in the United States, on its online food ordering and delivery platform.

From December 2023, Torchy’s Tacos will integrate its extensive network of over 100 locations, spanning across states such as Colorado, Indiana, Louisiana, North Carolina, Tennessee, and Virginia, into the Uber Eats app.

Torchy’s offers a menu that includes Green Chili Queso, tacos made from scratch, and margaritas.

Customers ordering $25 or more from Torchy’s Tacos menu between December 11 and 24 will receive complimentary queso and chips.

Members of Uber One can avail themselves of a 10% discount on their orders and enjoy complimentary delivery on eligible orders exceeding $15.

Torchy’s CEO and founder Mike Rypka stated, “Since the day we started in that Austin trailer park 17 years ago, our mission has always been to make damn good tacos, queso and drinks available for all.

“We couldn’t be more excited to partner with Uber Eats and have their help in continuing that mission.”

In addition to the on-demand delivery option, patrons of Torchy’s Tacos can leverage group orders, split bills, and utilize the “re-order” feature to maintain consistency in their Taco Tuesday orders.

Sarfraz Maredia, Vice President and Head of Uber Eats Americas, expressed, “Collaborating with Torchy’s Tacos marks a significant shift for famished Uber Eats users, both in their home state of Texas and beyond.”

“We are thrilled to bring this beloved brand onto the app and deepen the creative ways we can work together. And as a Texan myself, I feel incredibly fortunate to have such strong local partners who pride themselves on high standards — both for the quality of their food and how they treat their customers.”

Bubble tea giant Gong Cha set to expand across America with two new franchise agreements

News

By

SnackTeam

-

December 12, 2023

0

Gong cha, the tea drink franchise, has recently entered into agreements with two new master franchisees, granting them territorial rights for the Great Pacific Northwest and Central America.

The bubble tea brand, with a presence in over 2,100 locations across 23 countries, is set to broaden its footprint in Washington, Oregon, and Idaho through the Great Pacific Northwest franchise agreement with Ajay Keshap.

For 25 years, Keshap has been the proprietor of a diversified franchise group in the United States. Within the group’s portfolio are 24 Denny’s restaurants and 15 Papa John’s pizza establishments.

The group possesses area development rights for Dave’s Hot Chicken in the state of Washington.

In Central America, Gong cha has entered into an agreement with the husband and wife duo, Justin Willingham and Monica Fonseca.

Willingham and Fonseca will start by opening the first Gong cha location in Honduras, then proceed to expand the brand to Costa Rica, El Salvador, and Guatemala.

Their goal is to launch one or two locations in early 2024, aiming to reach a total of 50 stores across their territory by 2033.

Collectively, these two agreements will enhance the presence of the bubble tea brand in the Americas by over 100 stores.

Gong Cha Americas president Geoff Henry expressed, “We’re pleased to collaborate with Ajay, Justin, and Monica to introduce Gong cha to new markets in the Pacific Northwest and Central America.”

“With their experience and leadership in the franchise space, we know they will find great success introducing Gong cha’s premium product to a brand new audience.”

Since 2014, Gong cha Americas has successfully launched over 400 establishments spanning the United States, Canada, and Mexico.

Having established over 225 stores across 19 states, the brand is projected to achieve its 1,000th milestone in the Americas by 2026.

Flipkart opens first ever grocery fulfillment center in Bhubaneswar, promising 24 hour delivery

News

By

SnackTeam

-

December 12, 2023

0

Flipkart, owned by Walmart, has launched its first grocery fulfillment center in Bhubaneswar, Odisha, as part of an initiative to expand its grocery services.

The recently established center will enable the ecommerce giant to serve its online grocery customers in cities such as Asika, Basta, Bhadrak, Cuttack, Dhanekal, Jagatsinghpur, Puri, and Talcher, ensuring delivery within 24 hours.

According to Flipkart, the recently established center is anticipated to create more than 300 job opportunities. Additionally, it aims to facilitate nationwide market access for various local sellers, MSMEs, and small to medium-sized farmers in the region.

“Odisha’s socio-economic progress is gaining momentum, and the role of e-commerce in our overall development is pivotal. In alignment with our state’s vision, Flipkart’s inaugural grocery fulfilment centre marks a significant stride toward the rapid advancement of local MSMEs and farmers,” said Odisha’s micro, small and medium enterprises minister Pratap Keshari Deb.

He further mentioned that the endeavor will empower the state’s MSMEs, granting them access to the pan-India market and fostering stronger connections with consumers nationwide.

Covering an expansive area of 1.35 lakh square feet, the new facility boasts a dispatch capacity exceeding 2.09 lakh units per day. Specifically designed to handle 16,000 orders daily, it offers a diverse array of products, encompassing both regional brands and well-known brands from other states.

“As a homegrown company, we are dedicated to advancing technology and innovation to create a positive ripple effect across the Digital India landscape. As Flipkart ventures into the heart of Odisha with our first-ever grocery fulfilment centre, we recognize the state’s dynamic growth,” said Rajneesh Kumar, chief corporate affairs officer, Flipkart Group.

At present, Flipkart operates 24 grocery fulfillment centers, serving over 1,800 cities and encompassing 10,000 PIN codes throughout India.

Within the grocery delivery sector, Flipkart engages in direct competition with Amazon Fresh, Big Basket, Blinkit, Zepto, and various other players.

During the festive season sale in October, the Walmart-owned company temporarily suspended its grocery segment operations due to a surge in user traffic.

The recent development coincides with rival Amazon intensifying its focus on the grocery sector. Earlier this year, Amazon Fresh announced an expansion, extending its presence to over 50 cities in India, up from just 22 cities a year ago.

Tira strengthens omnichannel experience with new store openings in Pune and Bengaluru

News

By

SnackTeam

-

December 12, 2023

0

Reliance Retail’s omnichannel beauty platform, Tira, has recently expanded its presence with the opening of two new stores in Pune and Bengaluru, as announced in a social media post by Nirant Khedkar, a consultant working with Tira.

The seventh and eighth stores from the beauty brand have been unveiled, situated at Phoenix Mall of Asia, Hebbal, Bengaluru, and Phoenix Mall of the Millennium, Pune.

Nirant Khedkar serves as the Executive Director at The Othr Lab and holds the position of Head of Operations at Tira, as indicated by his LinkedIn profile.

“We’re thrilled to announce the grand opening of our 8th store, located at the Upper Ground Floor of the Mall of the Millennium, Wakad, Pune,” said Khedkar.

“Our 7th store doors are officially open at the Phoenix Mall of Asia, ready to dazzle customers with the ultimate beauty experience,” added Khedkar.

Tira’s brick-and-mortar outlets extend beyond traditional retail, providing personalized beauty services and access to cutting-edge technology tools. Customers can indulge in makeup consultations, virtual try-ons, and tutorials to experience Tira’s distinctive looks.

The mobile application of the brand delivers beauty content and advice, while the stores showcase a diverse range of international and locally crafted beauty brands. Encompassing makeup, skincare, haircare, fragrances, and bathing essentials, the stores provide a holistic beauty experience.

Launched in February 2023 as an e-commerce platform under Reliance Group’s retail division, Reliance Retail Ltd., Tira made its debut with the unveiling of its first flagship store at Jio World Drive in the Bandra Kurla Complex in Mumbai.

In August, Tira expanded its retail presence by inaugurating its second outlet in Mumbai, situated at Infiniti Mall, Malad, bringing the current total count to 8.

JadeBlue expands footprint in India with a new luxurious store in Surat

News

By

SnackTeam

-

December 12, 2023

0

JadeBlue, the men’s clothing retailer, announced the opening of its 35th store in India through a social media post on Sunday. Situated in Surat, Gujarat, the new standalone store spans 4,000 square feet.

“Store number 3 in Surat and our 35th JadeBlue store in India. A 4,000 sq. ft. luxury space where we are bringing many international and national brands along with premium JadeBlue labels and the iconic Modi Kurta and Jacket,” said Vrudang Parikh, general manager – finance and accounts at JadeBlue Lifestyle India Ltd in a LinkedIn post.

In 1995, the JadeBlue Group laid the foundation for its inaugural 2800 sq. ft. retail outlet, signaling the birth of the company that has since evolved into two distinct brands: JadeBlue and Greenfibre.

JadeBlue stands as a prestigious lifestyle store celebrated for its exclusive men’s fashion offerings, featuring a diverse array of collections encompassing Modi kurtas and jackets, loungewear, ethnic wear, casual wear, and formal attire.

NewsHub