Stovekraft bolsters market presence, unveils first Pigeon brand outlet in North India

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December 5, 2023

In a strategic maneuver to meet the increasing demand for elevated in-store shopping experiences, Stovekraft Limited, a distinguished name in innovative cookware, kitchenware appliances, and consumer lighting, has launched its flagship exclusive Pigeon Brand Outlet in Mayur Vihar, New Delhi. This marks the company’s debut in exclusive retail stores in the North Indian market, with intentions to set up five additional outlets across the Delhi-NCR region in the next quarter.

Encompassing an area of 610 square feet, the dedicated Pigeon brand outlet in Delhi represents a crucial move in Stovekraft’s effort to broaden its footprint in North India, reinforcing its market position across the country. Currently, the company manages more than 124 exclusive retail outlets across Andhra Pradesh, Karnataka, Kerala, Tamil Nadu, and Telangana.

Rajendra Gandhi, MD of Stovekraft said, “At Stovekraft, our mission is to bring high-quality kitchen appliances to the masses. We believe in providing products that enhance the culinary experience of every household. With the opening of our first store in North India, we are excited to continue our journey of offering reliable and innovative solutions to our customers.”

The recently opened Stovekraft outlet in Delhi exemplifies the company’s commitment to delivering high-quality kitchen appliances and exceptional customer service. Offering a diverse array of products such as gas stoves, chimneys, pressure cookers, cookware, and various small domestic appliances, Stovekraft remains at the forefront of setting new standards in the kitchen appliances industry.

Mayank Gupta, Chief Growth Officer at Stovekraft said, “The opening of our 125th store in Delhi is a moment of pride for Stovekraft. We are thrilled to bring our innovative and reliable kitchen appliances to the discerning consumers of North India. This marks the beginning of our expansion plan in the region, and we aim to open approximately 5 more stores in the Delhi NCR region within the next 30 days.”

Stovekraft affirms its objective to achieve a total of 150 stores by the end of December 2023 and aims to open another 150 stores in 2024.

Dr. M Nanda, Chief Marketing Officer of Stovekraft said, “Our physical stores provide an immersive experience, enhancing brand visibility, trust, and loyalty. We are confident that our retail expansion will significantly contribute to the elevation of the Stovekraft brand.”

As Stovekraft undertakes its expansion in North India, the company recognizes the favorable reception it has garnered from customers in South India. Encouraged by this enthusiastic support, Stovekraft is driven to broaden its presence, committed to delivering consistently reliable and high-quality kitchen appliances that elevate the culinary experiences of households. The company anticipates extending its legacy of excellence to the new store in Delhi and beyond, persisting in innovation, enhancement, and catering to the diverse needs of its valued customers.

Deliveroo experiences 33% jump in order value amid return to office trend in Hong Kong

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December 5, 2023

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Deliveroo saw a 33% surge in average order value during the last 10 months of 2023. This boost was fueled by businesses in Hong Kong, which actively brought their staff back to the office through the initiation of group meal orders.

As per Deliveroo’s data, both companies and employees are eager to enjoy the advantages of returning to in-person work following a period of remote work. With offices gradually filling up once more, an increasing number of businesses are opting for food delivery services to provide convenient and diverse catering solutions, ranging from grand in-office festive celebrations to everyday lunches with colleagues.

The information was gathered through Deliveroo’s Deliveroo for Work (DfW) program, which serves as the aggregator’s adaptable solution for work-related meals, team benefits, and catered events tailored for corporate clients.

Deliveroo discovered that finance, consultancy, legal, and technology firms in the bustling business districts of Hong Kong remain the primary contributors to DfW revenue. Among them, offices situated in Sheung Wan, Central, Admiralty, Wan Chai, and Quarry Bay place the highest number of orders, and those on Hong Kong Island consistently outspend their counterparts in Kowloon.

Among Hong Kong workers, Asian cuisine maintains its dominance, with Japanese, Chinese, and Korean food securing top positions in terms of order preferences.

Ordering preferences differ across industries, with consultancy firms favoring on-the-go bakery items such as coffee, pastries, and juice, while law firms lean towards more polished and healthy options like Japanese and Vietnamese bentos.

E&J Gallo set to expand US distribution of Lotte Chilsung’s Korean beverage, Soju

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December 5, 2023

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E&J Gallo aims to broaden the market reach of Lotte Chilsung Beverage Co.’s soju in the United States by taking on the distribution, seeking to introduce the beverage into a wider range of mainstream channels.

Soju, a Korean alcoholic beverage, is commonly crafted from tapioca, sweet potato, rice, wheat, or barley, and typically possesses an average alcohol by volume (ABV) of approximately 20%.

Soonhari, Chum Churum, and Saero, the soju brands from Lotte Chilsung, are currently sold in specialized Asian retailers in the United States. On December 4, Spirit of Gallo, the spirits division of E&J Gallo, announced its intention to broaden distribution to include all other channels. The distribution agreement between the two companies is set to commence next month.

Britt West, the general manager for Spirit of Gallo, said the soju category was at a “pivotal” moment in the US.

Without citing the source of the data, he added, “The soju category doubled in the US over the past five years, driven by accelerating consumer demand.

“The newest generation of drinkers has been driving the growth and is turning over the soju category due to its variety, convenience, and accessible price point.

“We are entering the category at a pivotal moment with the strongest partner, and we look forward to capitalising on this opportunity.”

According to Spirit of Gallo, Lotte Chilsung Beverage Co. is the second-largest manufacturer of soju globally, and soju holds the position of being the largest spirits category worldwide in terms of volume.

Lotte Chilsung Beverage Co., a division of Lotte Group, manufactures a diverse range of over 100 beverages, encompassing soju, beer, whiskey, fruit wine, and rice wine. With six manufacturing facilities, the company extends its exports to more than 70 countries.

Kyungdong Kim, president of US subsidiary Lotte Beverage America Corp., said, “We are excited to partner with Spirit of Gallo to leverage their distribution network and go-to-market capabilities to bring soju closer to more consumers and take the category and the Lotte Chilsung brands to new heights.”

In September, Spirit of Gallo collaborated with Mexican boxer Saúl “Canelo” Álvarez and the Mexican spirit company Casa Lumbre to introduce a line of Tequila Ready-to-Drink (RTD) beverages in the United States. The initial rollout of the products will focus on “select markets with substantial Mexican-American populations,” as stated by Spirit of Gallo.

Last year, E&J Gallo established Spirit of Gallo as a specialized umbrella business unit dedicated to its spirits operations.

In July last year, the wine giant made a noteworthy announcement with a “strategic investment” in Horse Soldier Bourbon, signifying its first venture into the U.S. whiskey market.

Chinese tea brand Heytea makes Malaysian debut with first store in Kuala Lumpur

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December 5, 2023

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Heytea, a Chinese tea brand, has opened its first store in Malaysia.

The brand launched its outlet on December 1st, situated at The Exchange TRX in downtown Kuala Lumpur.

Heytea asserts itself as the originator of Cheese tea, crafting its beverages with fresh fruits, authentic tea leaves, and high-quality milk.

Covering more than 80 square meters in the central area of Level C within The Exchange TRX at Tun Razak Exchange, Malaysia’s first international financial and commercial center, the store is situated less than 2km from the iconic Petronas Towers.

The brand will present a selection of four main options, comprising Seasonal Inspirations, Refreshing Real Fruit Teas, REAL Dairy Milk Teas, and Refreshing Finest Teas. Among the timeless Heytea flavors are Very Grape Cheese (Original), Very Grape Crystal (Original), Mango Grapefruit Sago, Roasted Brown Bobo Milk (Original), Strawberry Mulberry Black, and Regal Aqua Green Jasmine Cheese (Original). Prices for these offerings range from MYR9.90 ($2.12) to MYR17.90 ($3.84).

Heytea boasts a network of more than 1,000 establishments in China and has expanded to four locations in Singapore. Earlier this year, the brand marked its entry into the UK with the opening of its inaugural outlet.

Soul Origin and KitKat woo chocoholics with a trio of delicious new drinks

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December 5, 2023

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Soul Origin is launching a trio of new beverages in partnership with the renowned chocolate brand, KitKat.

The initial beverage in the trio is the Classic Choc Iced Blend, featuring a luscious chocolate taste harmonized with the crispiness of KitKat pieces. It is finished with a dollop of whipped cream and a sprinkle of chocolate. The second option is the Choc Caramel Ice Blend, crafted with Soul Origin’s distinctive chocolate and caramel sauces, adorned with whipped cream, chocolate sprinkles, and crushed KitKat.

Finally, there’s the Choc Mint Ice Blend. This refreshing beverage combines Soul Origin’s distinctive Chocolate Sauce, Peppermint, and the classic KitKat Original.

Last year, the brand joined forces for a collaboration, unveiling the limited edition Soul Origin Iced Crushers collection.

In addition to the latest beverage offerings, from December 8 to 15, all Soul Origin loyalty members have the opportunity to enjoy a KitKat-infused Iced Blend for just $5.

Honasa Consumer experiences tumble in share prices following block deal

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December 5, 2023

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Shares of Honasa Consumer Ltd, the parent company of direct-to-consumer brands Mamaearth and The Derma Co, are currently in the red. This decline follows a substantial block deal that transpired shortly after the market opened on Tuesday (December 5th).

Around 2% stake of the company, or 62.90 lakh shares, changed hands in the block deal, valued at INR 238 crore.

Nevertheless, the identities of the buyers and sellers involved in the transactions remain undisclosed.

By 11:20 am, the shares were being traded at INR 379 each on the BSE, reflecting a 1% decrease from the previous closing price of INR 383.

Previously, there were reports indicating that Fireside Ventures, a venture capital firm, intended to sell a 1.9% stake in Honasa Consumer through various block deals. The venture capital firm aimed to divest 61 lakh shares at a price range of INR 368.7 to INR 384.1 per share.

The decision to divest the stake aligns with recent reports indicating that Honasa had accumulated excess stock with its offline distributors ahead of the startup’s public listing.

As per the reports, distributors in Maharashtra and Goa are currently grappling with a 90-day inventory burden, marking a substantial rise from the usual 30-day stock levels.

Mamaearth, the D2C unicorn, entered the Indian stock exchange on November 7, debuting on the NSE with an almost 2% premium. The shares were introduced at INR 330, reflecting a listing gain of INR 6 compared to the issue price of INR 324. Meanwhile, on the BSE, Mamaearth shares opened flat at INR 324.

Despite a promising beginning, the initial enthusiasm was tempered by market volatility, leading the stock to drop to a historic low of INR 256.10 on the BSE just four days later. Nevertheless, a positive turn of events ensued when the company unveiled its Q2 FY24 results, showcasing a significant rise in net profits.

In Q2, Mamaearth reported a Profit After Tax (PAT) of INR 29.4 Cr, marking a nearly 94% year-on-year (YoY) surge, and its operating revenue also saw a 21% rise to INR 496.1 Cr.

On November 23, shares of Honasa Consumer Ltd surged by 20% during intraday trading, reaching the upper limit and achieving a record high at INR 422.5 on the BSE, spurred by the company’s Q2 FY24 earnings announcement.

Nestlé charts expansion in Brazil with $1.2 Billion investment

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December 5, 2023

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Swiss multinational Nestlé has announced plans to allocate 6 billion reais ($1.2 billion) for food and drink production in Brazil.

A series of investments is set to take place between 2023 and 2025.

These initiatives aim to promote “business growth, portfolio transformation, and operational efficiency” within Nestlé’s chocolate, coffee, pet food, and nutrition categories in the country. Nestlé’s nutrition business encompasses products such as infant formula and supplements.

When inquired about additional details regarding the investment, a spokesperson from Nestlé mentioned that the expenditure will also be directed towards expanding production capacity, constructing new processing equipment, and enhancing “innovation in products and packaging.”

Nestlé chose not to disclose the specific amount of funds allocated to each business area.

The company has not clarified the number of new jobs it plans to generate with the allocated funds.

Nevertheless, it verified that the previously announced $2.7 billion reais investment in its Brazilian chocolate and biscuit lines, disclosed in August, constitutes a portion of the overall $6 billion reais sum.

The funding alone was reported to be three times the sum invested in the country over the past four years.

The majority of the $2.7 billion reais was anticipated to be directed towards Nestlé’s facilities in Caçapava and Marília in São Paulo, as well as Vila Velha in Espírito Santo.

The Caçapava site is responsible for producing the KitKat brand, while the Marília plant is dedicated to biscuit manufacturing. Vila Velha serves as the production site for Garoto chocolates.

Nestlé expanded its presence in Brazil this year by acquiring a majority stake in the “high-end” national chocolate group, Grupo CRM.

In February 2022, Nestlé revealed a significant capital expenditure increase in the country, expressing its intention to invest over 1.8 billion reais that year in sectors such as production, technology, and distribution.

As per Nestlé’s annual report for 2022, the company operates 12 factories in Brazil, covering a range of sectors including milk and ice cream, beverages, pet food, confectionery, prepared dishes and cooking aids, as well as its nutrition and Health Science business.

The conglomerate in the food and beverage industry noted “robust double-digit growth” in its sales within Brazil during the initial nine months of 2023, with sustained momentum observed in confectionery and infant cereals.

In the Latin America region, organic growth rose by 10%, and reported sales exhibited a year-on-year increase of 5.7%, reaching SFr9.1 billion ($10.4 billion).

Indonesian coffee brand Tomoro Coffee debuts in China with new Shanghai outlet

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December 5, 2023

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Indonesian coffee brand Tomoro Coffee has unveiled its first outlet in Shanghai, China.

The recently opened venue is situated in Qingpu E Link World Industrial Park, a pivotal logistics hub in Shanghai.

Tomoro Coffee is backed by ATM Capital, a Chinese-led venture capital firm headquartered in Jakarta, Indonesia. Specializing in the Southeast Asian market, ATM Capital provides support to Tomoro Coffee, whose name is inspired by ‘tomorrow,’ symbolizing the embrace of goodness and the aspiration for a brighter future.

With a current presence of over 200 outlets in Indonesia, the brand plans to expand further by opening an additional 400 outlets.

Last year, Tomoro Coffee announced its goal of reaching 4,000 outlets in Southeast Asia, with a growth focus on Vietnam, Malaysia, Thailand, and the Philippines.

Jubilant FoodWorks sets new standards in foodservice, implements India’s first ‘No Antibiotics Ever’ policy

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December 5, 2023

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Jubilant FoodWorks Limited, India’s leading foodservice company, is pleased to announce the successful implementation of India’s inaugural “No Antibiotics Ever” (NAE) policy in 2023 for managing the health of poultry birds.

This groundbreaking initiative emphasizes JFL’s commitment to food safety, animal welfare, and aims to address global concerns surrounding Antimicrobial Resistance (AMR).

Since November 2017, the company has been actively engaged in crafting an antibiotics policy with the purpose of combating the improper utilization of antibiotics in the procurement of poultry.

The successful implementation of the three specified stages has prioritized ethical standards by restricting antibiotic usage to therapeutic purposes overseen by veterinarians, thereby eliminating non-therapeutic use for the promotion of growth.

“‘Jubilant for All’ represents the Company’s commitment to creating long-lasting value that delights not only our customers but all those involved in the process. As the pioneer of instituting an NAE policy in the world of QSR, moving beyond antibiotics isn’t just a policy; it’s a resounding affirmation of our values and an essential step towards delivering high-quality, safe, and ethically sourced products to our discerning consumers,” said Avinash Kant Kumar, President – Value Chain Engineering, Hong’s Kitchen, International Business and CSR- of Jubilant FoodWorks Limited.

To achieve the “No Antibiotics Ever” goal, the company has instituted a robust Surveillance and Oversight System that spans across farms, slaughterhouses, and processing facilities.

Supervised by qualified veterinarians, this comprehensive system guarantees strict adherence to the antibiotic usage policy. Furthermore, the company has achieved a noteworthy feat in ‘Farm Traceability,’ demonstrating its commitment to conscientious sourcing and vigilant product monitoring.

Barista Coffee brings more than just coffee: New winter menu & signature wraps launched

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December 5, 2023

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Barista Coffee Company Limited has unveiled its winter special menu, showcasing a collection of beverages with warming flavors that embody the essence of the season.

The selection of beverages on the menu spans from Apple Pie Frappe to the Caramel Almond Praline Latte.

In addition to the winter drinks, Barista is highlighting the Signature Wrap Festival, offering wraps such as spicy Paneer Paprika, Chicken Rogan Josh, and more.

“We are delighted to bring innovations to our newly launched winter menu, a celebration of the holiday season and culinary creativity. We believe in creating experiences that go beyond coffee, and this season, we invite our customers to indulge in the warmth and flavor of our specially curated wrap festival,” said Rajat Agrawal, CEO of Barista Coffee.

The recently introduced beverages are now accessible at every Barista establishment throughout India. With a presence in 120 cities, the brand boasts over 390 outlets in both India and Sri Lanka.

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