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Zomato experiences stock boost following high-value block deal

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Zomato, the foodtech industry leader, saw a slight uptick in its stock during the initial trading hours this Friday, propelled by a substantial block deal.

Approximately 1.06% ownership of the company, equivalent to 9.35 crore shares, was traded in the block deal. The shares were transacted at an average price of INR 120.5 each, resulting in a total transaction value of INR 1,127 crore.

Nevertheless, the identities of the individuals or entities involved as buyers and sellers in these transactions remain undisclosed.

In the initial trading session of the day, Zomato shares were priced at INR 123.6 each on the BSE, reflecting a 1.3% increase from its closing price in the previous session.

According to various media sources, it was reported that SoftBank’s SVF Growth, a Japanese tech investor, is considering selling an additional 1.1% stake in Zomato through a block deal valued at $135 million.

Read More: SoftBank considers divesting another 1.1% stake in Zomato for $135 Million

According to the reports, SVF Growth is anticipated to divest the shares at INR 120.5 each, representing a modest discount compared to Zomato’s closing price of INR 121.8 on the BSE on Thursday.

By the end of the September 2023 quarter, SVF Growth (Singapore) Pte Ltd held a 2.17% stake in Zomato, totaling 18.71 crore shares. Following that, in October, the Japanese investor sold a 1.1% stake, or 9.36 crore shares, in the foodtech major.

In August of this year, SVF Growth disposed of its 1.15% stake, equivalent to 10 crore shares, in Zomato, reducing its ownership in the company to 2.17%.

Last week, an international investor, Alipay, exited Zomato by selling its entire 3.44% stake in the company through multiple block deals, totaling a cumulative value of INR 3,336.7 crore. Despite the exit, these shares found new ownership among investors like Morgan Stanley and Fidelity Investment.

Read More: Alipay to sell its entire 3.44% stake in Zomato in a block deal worth $400 Million

In August, investment firm Tiger Global exited Zomato by selling 12.24 crore shares worth INR 1,123 crore, thereby relinquishing a 1.44% stake in the company.

Read More: Tiger Global exits Zomato, sells 12.24 Cr shares for INR 1,123 Cr in open market transaction

Zomato posted its second consecutive profitable quarter, witnessing a significant surge in profit after tax to INR 36 crore in the September quarter of the financial year 2023-24 (FY24). This marked an 18-fold increase from the PAT of INR 2 crore in the preceding quarter.

Read More: Zomato reports remarkable surge in profit, achieving second consecutive profitable quarter in FY24

Meanwhile, Zomato and Swiggy, the duo, reportedly received notices for a cumulative goods and services tax (GST) worth around INR 1,000 crore. This is the 18% tax levied on the total amount collected by them as delivery fees since they commenced offering food delivery services.

Read More: Zomato and Swiggy grapple with INR 1,000 Cr GST notices as tax authorities include delivery charges in revenue assessment

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Your Ultimate Guide to Christmas Markets In Delhi This December

Delhi is brimming with Christmas cheer right now, offering a perfect trifecta of food, fun and festivities. Mark your calendars for these Christmas markets, promising an unforgettable experience for everyone who brings on the holiday cheer! 

Special tip: Dress in your favourite reds and greens, and turn it into the grandest gala of the season!

  1. Sorbet Soiree 

Indulge in the Sorbet Soiree on 23rd December at Sunder Nursery, where every nook and corner unveils a winter delight for the shopaholic’s soul. From the rich aroma of artisanal coffees and hand-pounded Indian spices, to the luxurious touch of winter cashmere, this Christmas market is a sensory delight. For the eco-conscious connoisseur, sustainable jewellery brands and handcrafted scented candles gleam amongst the many luxury gifting options. Art enthusiasts can also explore mural art and sustainable water colours that breathe life onto canvases.

And for the food aficionado in you, Sorbet Soiree goes beyond the ordinary. With a lineup of patisseries, bakeries, and live pizza stations, the market transforms into a haven for gastronomic splendidness. Sula, their esteemed wine partner, adds a touch of sophistication, ensuring your festive spirit is as perky as their finest wines.

When: 23rd December, 10 am- 9pm

Where: Sunder Nursery

Free Entry

 

2. Pre Xmas Market 

The most spectacular celebration in town is unfolding at Worldmark, Gurgaon this month. Amidst a lineup of Christmas festivities, including the International Clown Festival, Christmas Carol Singing, a lively Christmas Parade, and a chance to meet and greet Santa himself, the grandeur begins with the Pre-Xmas Market on the 9th and 10th of December.

Step into a winter wonderland at Worldmark, where the air is filled with holiday cheer. From delightful winter shopping and heavenly cakes and pastries to festive Xmas crafts, tree hangings, and the sweet joy of cookie decoration, this market promises a sparkling journey through the magic of the season.

As you immerse yourself in the festive spirit, Worldmark’s Holiday Calendar becomes your guide to a December filled with joy and merriment. For a more detailed itinerary of the celebrations, be sure to check out Worldmark’s Holiday Calendar, so you are here for every beat and ring of the holiday bells.

When: 9th- 10th December, 12 – 10pm

Where: Worldmark, Gurgaon

Free Entry

 

3. London Market, Christmas Edit 

The London Market’s Christmas Edit, happening on the 16th of December, is a treasure trove of delights, featuring a wide array of food and beverages, books, stationery, festive decorations, tableware, handicrafts, and much more. With something special for everyone, the London Market promises to be an all embracing celebration of the holiday spirit.

When: 16th December, 11 – 7pm

Where: DLF Club 4, Gurgaon

Free Entry

4. The Earth Collective: Christmas Special Weekend 

The Earth Collective has been renowned for hosting its weekend markets at Sunder Nursery. As December unfolds, the market transforms into a festive haven, showcasing everything from delectable food and drinks to exquisite home and festive decor items. Every element is worth a glance, while staying true to a commitment to promote eco-conscious businesses and sustainable initiatives in the realms of food and lifestyle. If you’re looking to spend your Christmas Eve weekend, the conscious way, make The Earth Collective your destination.

When: 23rd- 24th December, 9am – 2pm

Where: Sunder Nursery 

Free Entry

While these markets spread their festive magic across Delhi, they are just the beginning of the city’s vibrant celebrations. Beyond the market stalls, Delhi hosts a myriad of festivities, from enchanting open-air cinema experiences to lively church carnivals. The celebration doesn’t stop here—there’s so much more to explore. Check out this  comprehensive guide to all the Christmas carnivals and parties lighting up Delhi.

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Daawat earns top spot in Canstar Blue’s dry rice ratings in Australia

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Daawat basmati rice

LT Foods, a venerable Indian-origin FMCG company with a 70-year legacy in the consumer food space, proudly announces that its flagship brand, Daawat, has been recognized as the ‘Top Brand’ in Canstar Blue’s latest dry rice ratings in Australia.

Canstar Blue, a prominent consumer review and comparison website in Australia, empowers consumers to make informed decisions across 300 goods and services. Daawat attained an outstanding 5-star rating, assessing factors such as taste, texture, packaging convenience, variety, and overall satisfaction. The survey encompassed Australians who had bought dry rice in the past three months, assigning ratings on a scale from zero to ten.

Providing a range of dry rice choices within the ‘Daawat’ brand, LT Foods addresses the preferences of both Australian and South-Asian consumers. The brand primarily features various variants of basmati rice, renowned for its aromatic long-grain quality. Furthermore, LT Foods offers specialty options, including Daawat Quick Cooking Brown Rice, Daawat Sehat (rice fortified with vitamins and iron), the ‘Daawat Biryani Kit,’ and ‘Daawat Cuppa Rice,’ catering to diverse global consumer preferences.

Ritesh Arora, CEO, India Business and Far East, LT Foods Ltd, expressed, “Being recognized as a ‘Top Brand’ in Canstar Blue’s dry rice ratings in Australia is a testament to our commitment to delivering high-quality culinary experiences globally. At LT Foods, our focus remains on unlocking the goodness of food sustainably, creating superior shared value for our stakeholders.”

In India, the Daawat brand boasts a significant 30.2 percent market share, with 48 lakh households choosing Daawat rice. Meanwhile, in the U.S., the ‘Royal’ brand, under LT Foods, commands over 50 percent of the market share in North America, with more than 1.6 million households favoring ‘Royal’ Basmati. Furthermore, Daawat maintains a prominent leadership position in Israel.

 

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Experience Worldmark’s Calendar of Festive Delights: 9th- 25th December

Worldmark is going big with the holiday season this year, where each day of celebration unfolds a new chapter of Christmas cheer! With a food and beverage lineup featuring the crème de la crème, Worldmark proudly showcases its wonderland allure—a culinary haven with the most extensive array of international cuisines, resembling a charming town within itself. Undoubtedly, the holiday season poses as the prime time to experience this magic. Here’s a glimpse into the magical Worldmark calendar for this December:

9th-10th Dec, Sat-Sun: Pre Christmas Market

A prelude to Christmas at the vibrant market, offering a plethora of winter shopping, delectable cakes, Xmas crafts, tree hangings, and cookie decoration.

17th Dec, Sun: International Clown Festival

A day filled with laughter and joy as the International Clown Festival takes centre stage, promising a carnival of whimsical antics and delightful performances.

4.30pm onwards

23rd Dec, Sat: Christmas Carol Singing

Sweet melodies of Christmas carols as talented singers come together to serenade you with timeless tunes, creating a heartwarming atmosphere.

24th Dec, Sun: Christmas Parade

Witness the magic of Christmas come to life with a dazzling parade, featuring festive floats, joyful performers, and the spirit of the season parading through the alleys of Worldmark.

25th Dec, Mon: Santa Meet and Greet

The most anticipated moment—meet and greet Santa himself! Share your wishes and capture the magic of Christmas with a memorable encounter.

Worldmark’s Christmas Week promises a time that is full of  joy, laughter, and merriment. Mark your calendar, and join them for a week-long celebration that will make this holiday season truly unforgettable.

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Clensta taps JM Financial for expansion, fortifying its robust omnichannel presence

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Clensta

Clensta, a personal care brand backed by Parineeti Chopra, has engaged JM Financial, a prominent investment banking firm in India, to serve as its investment banker for driving its expansion initiatives. Recognized for its involvement in noteworthy IPOs of modern companies like Nykaa, Mamaearth, IdeaForge, and Zaggle, JM Financial will provide strategic guidance on Clensta’s future fundraising endeavors.

In a year marked by sustained growth, Clensta has strengthened its leadership by welcoming Ashish Mishra as a co-founder and Chief Business Officer, complementing Parineeti Chopra’s role as a partner and key investor. The brand is strategically adopting an omnichannel approach to optimize its category mix. Having already established a robust online and offline presence in the Indian market, Clensta has organically expanded its footprint internationally.

Puneet Gupta, Founder of Clensta said, “Our collaboration with JM Financial is part of a series of strategic moves, aligning with Clensta’s association with actor Parineeti Chopra and the appointment of Ashish Mishra as our co-founder and CBO. We aim to enhance our omnichannel distribution, encompassing retail, online, international, and alternate markets, while pursuing significant deals in institutional and export segments. With JM Financial onboard, we look forward to concentrating on business development under the leadership of Ashish.”

In a previous milestone this year, Clensta secured a successful Pre-Series B funding round, raising INR 75 crore. The round was led by TradeCred, co-led by the Royal Family of the UAE, and included participation from investors such as Parineeti Chopra. Illustrating remarkable growth, Clensta recorded a 100 percent increase in FY23 and foresees an additional 150 percent growth in the forthcoming fiscal year.

Check Out Other Article: Clensta secures funding boost as Parineeti Chopra backs the sustainable personal care startup

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7 Sneaky Ways to turn winter veggies into kid-friendly juices

Are you struggling to find a solution to the kids vs veggies battle?

Winter comes with a vibrant array of nutrient-packed vegetables, but for many parents, the challenge lies in transforming these veggies into a kids-approved feast. When it comes to veggies, especially the green ones, kids often put on their food detective hats, ready to uncover any hidden nutrition. But what if you can find a way to make them come back for more?

Juices are a great way to guarantee a blend of taste and essential nutrients if done right. While vegetable juices might not share the same sweetness as their fruity counterparts, we’re ready with our secret weapon – the 1:3 rule: With every three parts of veggies, you mix one part of fruits; and just like that, without losing the goodness of veggies, a symphony of flavours to delight your little one is ready!

Here are 6 kid-friendly vegetable juices that won’t just trick their taste buds but also sneak in a whole lot of nutrition and a pump of energy!

Additional Tips: 

  • If you’ve got a mixer-blender instead of a juicer, go for it! Juicers skip the good stuff like fiber and pulp, but with a mixer/blender, we’re grabbing all that nutrition and making it a vitamin rich party! 
  • We have decided to name our juices to make them sound fun, feel free to make your own.
  • You can add some honey or coconut sugar to taste. 
  • Serve fresh fruit and vegetable juices immediately!

 

  1. Carrot Splash

What you need: 2 carrots and 1 orange

Benefits: Rich in antioxidants and Vitamin C

 

2. Big Red

What you need: 1 Apple, ½ Beetroot, 2 Carrots

Benefits: Purifies the blood and helps in detoxifying the digestive tract.

 

3. Green Goddess

What you need: 1 cup coconut water, 3-4 spinach leaves, ½ cucumber, 2 slices pineapple

Benefits: Spinach is full of vitamins and minerals like magnesium, potassium, folate, vitamin A, C, K B2, BC and E. While cucumber contains antioxidants, which are important to fight disease.

 

4. Peppy Berry Burst

What you need: 1 Cup coconut water, 3-4 strawberries, ½ apple, a pinch of black pepper

Benefits: Super hydrating and rich in antioxidants 

 

5. Rabbit Juice

What you need: 1 carrot, 1 tomato and ½ cucumber

Benefits: It’s a great way to prepare tomato juice, and high in Vitamins B & C.

 

6. Power Potion

What you need: 1 cup chopped spinach, 1 chopped apple, a pinch of salt

Benefits: Spinach is a must include ingredient as part of your kids
(and yours) winter diets. It’s great to fight chronic diseases and improves vision power. 

 

7. Veggie Rocket

What you need: 1 tomato, 1 stalk celery, ½ cucumber, handful of fresh parsley, ½ tsp of pink salt

Benefits: Tomatoes are well known to promote great skin and hair growth, while instantly energizing us with antioxidants and getting rid of free radicals from the body. 

 

As we choose wholesome options for our children, keep in mind that we have the power to change their snacking habits. These colorful and nutritious juice recipes lead to a world where pleasure and health can coexist. 

So let the juicing adventure begin

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Start following Kiara Advani’s simple yet powerful morning ritual for glowing skin

Have you ever stopped to marvel at Kiara Advani’s radiant and flawless skin? In the exquisite glamour that is Bollywood, Kiara Advani stands out not just for her acting genius but also for her luminous and healthy skin. Amidst the overwhelming myriad of options surfaced by the beauty industry, this simple yet transformative ritual is not only a fad, but the cornerstone of her radiance.

 

The secret might be simpler than you think. It’s not a gruelling workout or a 10-step skincare routine; it’s a simple cup of warm water, with a slice of lemon in it. Kiara’s morning habit of indulging in warm water infused with the zest of fresh lemons has become a conscious choice rooted in her approach to holistic well-being. The actress recommends this refreshing elixir not only for its skin-enhancing benefits but also for the multiple benefits it has in improving your overall health and vitality.  

 

Hansa Yogendra, Director of The Yoga Institute in one of her videos on the health benefits of lemons mentioned, “Drinking one glass of lemon water every day in the morning will benefit you for a lifetime”.  Her claim can further be supported by a research published in the Journal of Science and Technology which reveals that “It is a healthy appetiser and helps to treat diseases with digestive aids. Lemon does not disclose any adverse effects, according to literature, but it is used all over the world as a traditional medicine”. Vitamin C, which is abundantly present in lemons, fights toxins and increases collagen production in the body, both of which help in treating acne as well as tightening the skin and reducing fine lines and wrinkles. While lemons are famously known for their Vitamin C component, not many people are aware of their Potassium-rich skin, which is an important mineral for nervous stimulation as well as maintaining blood pressure. Here are a few more benefits of adding lemon water to your everyday diet:- 

  • Immediately soothes muscle cramps
  • Peptin in lemons makes us feel fuller, thereby, helping in weight loss
  • Boosts immunity by stimulating the production of White Blood Cells in the body
  • Removal of kidney stones 
  • The lemon peel when infused in water for 30 minutes, activates its bioactive compounds which boost immunity and prevent our bodies from cellular damage
  • It also helps in the release of digestive enzymes which help in better absorption of nutrients

 

This simple kitchen hack has proudly made its way into the celebrity wellness circuit. Not only Kiara Advani but also Alia Bhatt, Deepika Padukone, Kriti Sanon, and Malaika Arora have this one drink in common at the break of dawn.

Here are 3 ways, you can incorporate the lemon water glow into your morning routine:- 

  1. Warm ginger lemon tea- Boil a glass of water with crushed ginger. When its done, squeeze a lemon into your glass and have it warm. To enjoy it in place of your morning tea, you may add a teaspoon of honey to it.

2. Ginger lemon shot – Take an inch of ginger root, and one squeezed lemon. Add enough water to blend it (3-4 tablespoons) in a blender, and have it as a morning shot.

3. Lemon-infused detox water- Cut up slices of one lemon and add it to your water bottle. Have 1-2 glasses of lemon water in the morning, and keep having the rest throughout the day. 

While lemon water offers a myriad of health benefits, it’s crucial to exercise moderation. One lemon a day is a healthy limit, and people with gastroesophageal reflux disease should be cautious about excessive lemon juice intake. As with any dietary rituals, balance is key to ensuring you enjoy the advantages without overdoing it. 

Skincare startup Phases secures INR 30 Lakhs in angel funding boost

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Sannjana Raghu Amberkar

Phases, the natural skincare startup based in Davangere, Karnataka, achieved a significant milestone with the successful acquisition of angel funding totaling INR 30 Lakhs. This funding, involving a 20 percent equity dilution, was secured from Aparna Thyagarajan, Co-Founder of Shobitam, Inc. The breakthrough funding opportunity materialized through the startup’s participation in the groundbreaking ‘Indian Angels’ show, now accessible on the OTT platform JioCinema. Notably, Phases had previously sustained itself through the bootstrap efforts of its co-founders before this noteworthy financial injection.

Led by mompreneur Sannjana Raghu Amberkar, Phases is set to strategically deploy the recently secured angel funds. The key areas of concentration encompass product development, fine-tuning customer experience, amplifying marketing and brand visibility, and driving overall growth and expansion. This infusion of financial support harmonizes with Phases’ vision of emerging as a prominent player in India’s skincare market for teens and tweens.

During the ‘Indian Angels’ pitch, Sannjana shared a compelling narrative, accentuating Phases’ mission to provide safe and non-toxic skincare for teens and tweens. The angel investors were particularly resonant with the uniqueness of Phases’ positioning, commitment to sustainability, and meticulous product formulation. In the aftermath of the pitch, Sannjana found herself fielding two investment offers. After careful consideration, she chose Aparna Thyagarajan’s offer, citing a more favorable deal.

Sannjana Raghu Amberkar, Co-Founder, Phases said, “We are thrilled to announce our first angel funding raised from ‘Angel’ Aparna Thyagrajan via the Indian Angels show, marking a pivotal moment in Phases’ journey. The capital infusion will not just help us in meeting our immediate business needs and expansion goals, but additionally over the long-term, it shall open many doors for strategic partnerships and enhance Phases’ market positioning.”

“Apart from financial support, Aparna’s backing brings to us strategic guidance and industry insights as well, and her mentorship will certainly prove invaluable for us in navigating challenges, making informed decisions, and fostering sustainable growth for Phases. Looking ahead, we at Phases are super-excited about our journey in the upcoming years, as we aim to achieve robust revenue growth and profitability, and simultaneously initiate strategic product launches and expansion into new categories,” she added.

In its commitment to empowering teens and tweens, Phases distributes its products via its website and various platforms such as Amazon, Flipkart, and Suspire. The product line is designed to meet skincare needs, with a focus on plant-based ingredients and adherence to rigorous standards of safety and sustainability. Noteworthy among them, bestsellers like Splash and Poise exemplify Phases’ dedication to quality, setting the stage for upcoming product launches that will cater to the expanding skincare requirements of teens and tweens.

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Women’s wear brand Uptownie targets 2x revenue growth amidst expanding plans

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Uptownie

Homegrown women’s wear brand Uptownie, which initiated operations in 2015 with an initial investment of INR 80 lakh, is targeting a revenue of INR 60 crore by the end of this fiscal year, as stated by Shivani Agarwal, co-founder and CMO of Uptownie.

The self-funded brand, aiming to achieve an 18 percent EBITDA this fiscal year, mirroring the previous year’s performance, boasts a retention rate of 30 percent. It concluded the last fiscal year with a total of INR 30 crore.

At present, it maintains a presence on 11 marketplaces and operates a direct-to-consumer (D2C) website. There are plans to establish an offline presence in the fiscal year 2024-2025.

The women’s wear brand currently records an average order value of INR 1,800, with intentions to raise it to INR 2,000, while the customer acquisition cost (CAC) ranges between INR 500 and INR 600.

“At present, 70 per cent of our revenue is contributed by marketplaces and the remaining 30 per cent comes from the D2C channel, however, this financial year, we are aiming 45 per cent of our revenue from the marketplaces and the remaining 55 per cent from our D2C as our D2C channel has grown 6x since the last year,” she stated.

“Next year, we are planning to open shop-in-shops at large format stores like Central, Shoppers Stop, and Lifestyle. And towards the end of next year, we plan to open our EBOs,” she further added.

The brand intends to establish Exclusive Brand Outlets (EBOs) in cities such as Kolkata, Bengaluru, Guwahati, and Mumbai. The forthcoming mall-based stores are anticipated to cover an area ranging from 500 to 600 sq.ft.

To support its offline expansion strategy, the brand is preparing to secure INR 25 crore at a valuation of INR 250 crore, involving a 10 percent equity dilution.

Next year, the brand is set to expand its offerings by entering into the plus-size category.

“For FY25, we are aiming for INR 100 crore and if we raise the funds, then it can reach up to INR 130 crore,” she stated.

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Indian e-commerce giants Myntra and Ajio unveil mega sales to sustain consumer frenzy after successful festival season

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ecommerce
(Representative Image)

After a prosperous festival season for numerous e-commerce firms, companies are now eager to capitalize on the growing interest of Indian consumers in retail therapy.

Myntra and Ajio, prominent fashion platforms, have introduced the ‘End Of Reason Sale’ and ‘Big Bold Sale,’ presenting discounted prices on clothing and various fashion accessories. In India, the initial week of December marks the conclusion of the festival season, typically commencing in October and concluding by mid-November.

Nevertheless, businesses persist in providing products at reduced prices through sales, with some choosing to do so during Black Friday and Cyber Monday.

These sales serve as a crucial gauge of consumption health, constituting approximately 60 percent of India’s gross domestic product. Companies are also optimistic about capitalizing on the onset of the wedding season in many parts of India to sustain the momentum in consumption.

The Confederation of All India Traders projects that the total sales from November 23 to December 15 will amount to approximately INR 4.25 lakh crore ($51 billion).

Myntra anticipates approximately one million new customers to participate in the 19th edition of EORS. Meanwhile, Ajio’s Big Bold Sale, commencing on December 7, witnessed a 40 percent surge in orders during the early access phase compared to regular business.

Festival season was termed a success by many e-commerce players. “A very large middle class is expanding as we speak. We are seeing that increasing disposable incomes are leading to customers showing very strong preference to premiumise. This is happening in multiple categories,” said Saurabh Srivastava, vice president, Amazon India in October, ahead of the shopping season.

Amazon reported that 80 percent of its customer base hailed from tier 2-3 cities, asserting that this marked the largest ‘Great Indian Festival’ in the company’s history.

“The festive season is expected to be followed by a robust wedding period, both of which combined should support near-term growth,” Teresa John, an economist at Nirmal Bang Institutional Equities Pvt, had said late October. “Easy availability of credit and expectations of cooling inflation should also aid a gradual recovery in discretionary spending particularly in the mass market.”

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