EatFit, a health-focused food platform affiliated with Curefoods, and HRX, the groundbreaking fitness brand co-founded by Hrithik Roshan and Exceed Entertainment, have collaboratively unveiled a groundbreaking addition to their offerings: the HRX Cafe.
The cafe is strategically located at Palladium in Lower Parel, Mumbai.
After introducing the HRX Cafe in Mumbai, the HRX brand intends to expand the presence of these cafes to a wider audience.
“I am thrilled to collaboratively introduce HRX by EatFit Cafe in Phoenix Palladium, Mumbai. At HRX Cafe, we aim to nourish both body and soul, bringing together the energy of fitness with the delight of great food. It’s a step towards redefining wellness, and we can’t wait to share this exciting journey with everyone in Mumbai,” said Ankit Nagori, Founder of Curefoods.
The opening of the Mumbai outlet signals the start of an initiative to establish HRX Cafes in multiple locations by the end of the year.
This expansion mirrors the brand’s dedication to cultivating a community of health-conscious individuals seeking nutritious dining experiences at every turn.
The HRX Cafe distinguishes itself through a commitment to incorporating a variety of millets like Quinoa, Millet, and Black Rice into its recipes. This encourages customers to make mindful dietary choices that align with their fitness goals.
Zingavita, a prominent player in India’s retail health sector, has appointed Dheeraj Nagpal as Co-Founder, signaling a strategic move to enhance its product innovation, brand strategy, and marketing initiatives. With an impressive background spanning over 12 years in growth, B2B partnerships, and business strategy, Dheeraj’s appointment marks a noteworthy milestone for the company.
Dheeraj, recognized for his instrumental contributions to the expansion of Zomato Gold in India and his leadership in Partnerships and Alliances at Zomato, brings a wealth of expertise in lending, payments, and Food Tech to Zingavita. His successful track record in executing strategic mandates for Zomato and his prior role as the Lead Finance Officer at American Express highlight his ability to guide Zingavita toward its upcoming phase of growth and innovation.
Sachin Goel, Co-Founder of Zingavita, expressed excitement about the partnership, stating, “Zingavita is thrilled to welcome and partner with Dheeraj in this growth journey. His expertise will enable us to accelerate our innovation cycle and meet our growth milestones to continue delivering on our promise of high-quality, targeted nutrition for the entire family.”
Dheeraj Nagpal shared his enthusiasm, stating, “I am excited with Zingavita embarking on the journey to redefine health and wellness in India. Zingavita’s commitment to quality, innovation, and affordability resonates deeply with my vision for the future of the health supplements industry.”
Zingavita, a frontrunner in the health retail industry, specializes in providing a varied selection of premium, scientifically crafted natural supplements. With a strategic emphasis on the INR 20,000 crore nutraceuticals and herbal supplements market in India, the brand has positioned itself with a portfolio of over 20 SKUs in Kids and Adult nutrition, accessible on leading marketplaces.
The company has revolutionized the Kids’ nutrition segment by presenting traditional chyawanprash in a gummy format, specially crafted to boost children’s immunity. Zingavita’s adult nutrition products are in harmony with its vision of “science-backed nutrition, tailor-made for you,” incorporating distinctive formulations like a combined multivitamin and Omega 3 blend in a single soft-gel, as well as personalized multivitamins tailored for different age and gender categories. Zingavita aspires to strengthen its standing in the health and wellness sector, persistently providing innovative solutions for a healthier and more vibrant life.
Balrampur Chini Mills Ltd (BCML) anticipates maintaining strong growth momentum, driven by heightened crushing activities and improved yield during the ongoing sugar season from October 2023 to September 2024, according to a senior executive. Besides the organic growth it is experiencing, the company is actively investigating potential “acquisition opportunities” in the inorganic sector.
“I don’t want to stall our growth trajectory. We need to evaluate various opportunities to ensure sustained healthy growth given the favourable government policies. We expect our performance is going to be only better in the years to come,” stated Avantika Saraogi, the Promoter and Business Lead (New Initiatives), without disclosing specific targets.
BCML reported a revenue of INR 4,728 crore for the fiscal year 2022-23. The revenue for the first half of the fiscal year 2023-24 (April-September 2023) surged by 33 percent year-on-year, reaching INR 2,929 crore.
Saraogi, a key contributor to BCML’s success, conveyed optimism about the company’s upcoming performance.
The city-based sugar major, which operates ten sugar factories in Uttar Pradesh with an aggregate sugarcane crushing capacity exceeding 80,000 TCD, remains open to acquisitions for inorganic growth while maintaining organic growth in its existing mills.
She mentioned that initial observations from the ongoing crushing season indicate a yield surpassing 10 percent, attributed to favorable weather conditions, technological interventions introduced by BCML for farmers, and enhanced pest management. In the preceding sugar season, the company successfully processed 10.3 crore quintals of sugarcane.
Her optimism stems from the preponement of the E20 (20 per cent ethanol blend in petrol) target to 2025-26, a move that will ensure a balanced sugar market and foster stable returns for the sugar industry.
Nevertheless, Vinod Kumar Yadav, the CGM & Head of Operations at Haidergarh Sugar Mill, warned that the industry may face challenges due to external factors, such as a sudden rise in the state-advised price (SAP) for sugarcane set by the Uttar Pradesh government.
Yadav urged the state government to consider the industry’s viability before contemplating any increase in the cane support price.
According to Trendlyne Forecaster, Balrampur Chini Mills Ltd is anticipated to generate revenue within the range of INR 5,516 crore to INR 5,824 crore in FY24 and between INR 6,100 crore to INR 6,639 crore in FY25.
Although sugar continues to be the primary focus of BCML, there is a 50% increase in ethanol production, reaching 33 crore litres this year. Sugar constitutes 66% of the company’s revenue, while ethanol makes up nearly 33% of the remaining share.
Pepe Jeans London, a renowned denim brand, is setting its sights on achieving sales of approximately INR 2,000 crore in the Indian market. According to Manish Kapoor, the Managing Director and CEO of Pepe Jeans London in India, the company plans to enhance its retail footprint by adding over 100 new stores within the next three years. As part of the Spanish global fashion group AWWG, Pepe Jeans London is optimistic about the Indian market and aims for a robust compound annual growth rate (CAGR) of 18-20% over the next three to five years, as shared by Kapoor in an interview with PTI.
As part of the strategy, Pepe Jeans is directing its efforts toward expanding its network of brand stores and fast-growing e-commerce channels. Anticipating a significant shift, the company expects that 55% of its business will be generated directly through sales to consumers via its proprietary sales channels.
Over Pepe Jeans’ expansion plans, Kapoor said, “We will add 100 odd stores in the next three years and in terms of a turnover, we are looking at a CAGR growth of 18 to 20 per cent. So we should be almost around INR 2,000 crore of consumer sales in three years.”
When asked about sales numbers, Kapoor said, “If I look at business in India, last year on a consumer sales revenue we did close to INR 1,200 crore and book revenue of INR 562 crore. We grew almost 55 per cent as compared to the previous year.”
But more importantly, Pepe Jeans grew almost 42 per cent, as compared to the pre-COVID numbers, he added.
According to Kapoor, over the last two to three years, Pepe Jeans has transformed into a consumer-centric company, placing a strong emphasis on trends and the digital facets of the business.
“We have a very clear focus in terms of direct-to-consumer sales. So whether it is through online or through stores, retail and e-commerce are going to be our biggest focus,” he said.
Kapoor mentioned that Pepe Jeans London is experiencing a significant portion of its growth from smaller Tier II and III markets. This growth is attributed to factors such as increasing disposable income, greater exposure to trend-related information for existing brands, and the boost from the expanding internet penetration.
“Today the aspirations of these consumers (tier II & III) are similar to a consumer of a metro city.
“These guys have similar sort of disposable incomes and are willing to buy. e-commerce as a platform has provided us an opportunity where we can reach out to consumers or even cities which are like one lakh sort of population. So, accessibility has also become easier,” he added.
Presently, approximately 58 percent of Pepe Jeans’ business is derived from the top eight cities, with the remaining 42 percent originating from markets categorized as tier II and below.
Within the premium denim sector, Pepe Jeans London holds the second position as a leading brand. The forefront of the premium denim space is dominated by the American jeans manufacturing brand Levi’s.
Pepe Jeans London possesses ownership of brands like Hackett and Faconnable. Additionally, it serves as the licensed distributor for Tommy Hilfiger and Calvin Klein in Spain and Portugal.
The brand Pepe Jeans London has been present in India since 1988.
In a world driven by consumerism, the pursuit of sustainable practices has become a beacon of hope for a planet in peril. As environmental concerns escalate, the need for eco-conscious engagement has never been more critical. How can we convert consumers into champions of sustainability? The answer lies in the art of education.
Firstly, it is important to understand the Consumer mindset, in order to embark on the journey of eco-conscious engagement, it’s essential to decipher the intricate layers of the consumer mindset. Consumers, now more than ever, seek meaning beyond the tangible product – they crave a connection with a purpose. This shift in perspective provides a canvas for the brushstrokes of education to paint a picture of environmental responsibility. The power of storytelling transcends the confines of mere information delivery. Crafting narratives that resonate with the consumer’s values and emotions creates a compelling tapestry of understanding. By weaving stories of environmental impact, individual choices, and collective responsibility, we foster a sense of shared commitment.
The term “sustainability” often hovers in the realm of abstraction. Transforming it into a tangible concept involves breaking down complex jargon and concepts into digestible portions. A successful eco-conscious engagement strategy involves demystifying sustainability, making it accessible to the masses through relatable examples and real-world applications.
Education is Empowerment
Empowerment emerges as a cornerstone of sustainable consumer conversion. Education should not merely be an imparting of knowledge but a tool for empowerment, enabling individuals to make informed choices. By providing the necessary tools and knowledge, consumers can become architects of their own sustainable lifestyles.One of the very strong tools when it comes to educating is harnessing the power of influencers who align with eco-conscious values and amplifies the reach of educational campaigns. The ripple effect of a well-crafted message can extend far beyond initial expectations. The symbiotic relationship between brands and consumers can be a catalyst for change. Brands, by embracing transparent sustainability practices, build trust with consumers. Collaborative initiatives that involve consumers in the decision-making process create a sense of shared responsibility, fostering a community committed to positive environmental impact.
Navigating Challenges: Overcoming Greenwashing
In the pursuit of eco-conscious engagement, the specter of greenwashing looms large. To maintain authenticity, transparency is paramount. Educating consumers about how to discern genuine sustainability efforts from mere marketing ploys empowers them to make discerning choices.A successful eco-conscious engagement strategy transcends the individual level, creating a ripple effect that extends to communities and beyond. Through education, consumers evolve from passive participants to passionate advocates, influencing others through their informed choices and inspiring a domino effect of sustainable practices.
The journey toward sustainable consumer choices is paved with the bricks of education, empathy, and empowerment. By understanding the consumer mindset, crafting compelling narratives, and leveraging the power of social platforms, we can foster a collective awakening. Through collaborative initiatives and a commitment to transparency, we can transform consumers into champions of sustainability, creating a legacy of environmental stewardship for generations to come.
The tech era today is on a whole another level, where technology and consumer behavior intersect, businesses find themselves navigating a digital tapestry that weaves together insights, preferences, and trends. As technology becomes an integral part of daily life, understanding how it shapes consumer behavior is not just a necessity; it’s a strategic imperative. Let’s embark on a journey through the digital landscape, exploring the intricate relationship between tech and consumer behavior to unveil insights that pave the way for informed strategies.
The Tech-Powered Consumer: Shaping Behaviors, Redefining Expectations
In a world where smartphones are extensions of ourselves and smart devices orchestrate our homes, consumers have become tech-empowered beings. Understanding the ways in which technology shapes their behaviors is like deciphering a code that unlocks the secrets of modern preferences and expectations. From instant gratification to seamless experiences, the tech-powered consumer is reshaping the landscape of expectations.
E-commerce has evolved from a convenience to a way of life, and understanding the nuances of online shopping behaviors is a quest for businesses navigating the digital landscape. From the psychology of clicks to the intricate dance of conversion rates, businesses that decode the digital shopping journey gain insights into optimizing user experiences, influencing purchase decisions, and fostering brand loyalty in the virtual marketplace.
Secondly, Social media has become the town square of the digital age, where consumer opinions echo and reverberate. Businesses that tap into the pulse of social platforms gain valuable insights into public sentiment, emerging trends, and brand perceptions. The interconnected web of likes, shares, and comments provides a real-time narrative of consumer preferences, enabling businesses to adapt and engage in meaningful conversations.
Data Analytics: Unraveling Patterns for Strategic Precision
As consumers traverse the digital landscape, they leave behind a trail of data that holds the key to understanding their behaviors. Data analytics becomes the compass guiding businesses through this intricate terrain. From analyzing website traffic patterns to deciphering purchase histories, businesses armed with data-driven insights gain the strategic precision needed to tailor offerings, refine marketing strategies, and anticipate future trends. With the world at their fingertips, consumers wield smartphones as personal command centers. Understanding mobile preferences goes beyond responsive web design – it’s about decoding micro-moments that shape decision-making on the go. Businesses that optimize for mobile not only capture attention but also tap into the fleeting opportunities where consumer behaviors crystallize into actions.
Apart from that, voice-activated assistants have become companions in our daily lives, transforming the way we search for information. The rise of voice search introduces a new dimension to consumer behavior – one characterized by conversational interactions and nuanced intent. Businesses attuned to the nuances of voice search gain a competitive edge in delivering content and experiences aligned with the natural flow of consumer conversations.
The Experience Economy: From Transactions to Engagements
In the digital landscape, the currency of success is no longer just transactions; it’s engagements. Consumers seek experiences that resonate, and businesses that craft immersive digital experiences win the hearts and minds of their audience. From virtual reality to augmented reality, the technologies shaping the experience economy redefine how consumers engage with brands, products, and services in the digital realm.
Further, as technology permeates every aspect of consumer life, the issues of privacy and trust become paramount. Understanding the delicate balance between personalized experiences and respecting user privacy is a challenge for businesses navigating the digital landscape. Establishing and maintaining trust becomes a cornerstone in building enduring digital relationships with consumers who seek both innovation and security. The digital landscape is a dynamic canvas, continually painted with the brushstrokes of emerging technologies. Businesses that cast their gaze to the future horizon gain foresight into the tech trends that will shape tomorrow’s consumer behaviors. From artificial intelligence and machine learning to the Internet of Things, understanding these trends positions businesses to proactively adapt and stay ahead in the ever-evolving digital ecosystem.
The Bottom Line
Navigating the digital landscape for insights into consumer behavior is akin to embarking on a captivating expedition through uncharted territories. Businesses that decode the nuances of tech-infused behaviors gain the strategic advantage needed to not only meet current expectations but also anticipate and shape the future of consumer preferences. The digital tapestry, woven with threads of technology and consumer behavior, reveals insights that are not just observations but the keys to unlocking the doors of strategic success in the digital era.
In the intricate dance between businesses and consumers, the concept of an omni-channel approach has emerged as a guiding principle, marrying efficiency and experience seamlessly. As technology continues to redefine how we engage with brands, the mastery of omni-channel strategies has become a catalyst for transforming customer journeys. Let’s explore the powerful synergy of efficiency and experience as businesses navigate the multi-faceted landscape of omni-channel engagement.
The Omni-Channel Tapestry: Weaving Interconnected Experiences
Omni-channel strategies go beyond mere multi-channel presence. They weave a tapestry where each touchpoint, whether online or offline, contributes to a seamless and interconnected customer journey. From brick-and-mortar stores to e-commerce platforms, mobile apps, and social media, businesses that master the omni-channel tapestry create a cohesive experience that transcends individual channels.
Efficiency Unleashed: Streamlining Interactions
Efficiency lies at the core of omni-channel mastery. The ability to streamline interactions across channels ensures that customers can transition seamlessly between touchpoints without friction. From browsing products online to making a purchase in-store or seeking support through a mobile app, an efficient omni-channel strategy minimizes hurdles, saving time and enhancing the overall customer experience.
Personalization Precision: Tailoring Journeys for Individuals
One-size-fits-all approaches are relics of the past. Omni-channel mastery enables businesses to harness the power of data to deliver personalized experiences. From targeted marketing messages based on online behavior to in-store recommendations shaped by past purchases, personalization becomes a cornerstone, making customers feel seen and valued at every interaction.
Real-Time Responsiveness: Meeting Customers Where They Are
The omni-channel landscape is dynamic, requiring businesses to be agile and responsive in real time. Whether it’s addressing customer inquiries on social media, updating inventory levels across channels, or adapting marketing strategies based on emerging trends, real-time responsiveness ensures that businesses meet customers where they are, enhancing the relevance and timeliness of their interactions.
Unified Communication: Breaking Down Silos
The efficiency of an omni-channel approach is contingent on breaking down communication silos within organizations. Departments that traditionally operated independently, such as marketing, sales, and customer service, must collaborate seamlessly. Unified communication ensures that customer data is shared across channels, creating a holistic view that empowers businesses to deliver consistent and cohesive experiences.
From Online to Offline and Beyond: The Fluid Customer Journey
Customers don’t distinguish between online and offline experiences – their journey is fluid. Businesses mastering omni-channel strategies understand this fluidity and ensure a consistent brand presence across all touchpoints. Whether a customer starts their journey on a mobile app and completes it in-store or vice versa, the omni-channel approach provides a harmonious experience that transcends the boundaries of physical and digital realms.
Cross-Channel Analytics: Insights for Continuous Improvement
The mastery of omni-channel strategies isn’t a one-time achievement; it’s an ongoing process of refinement. Cross-channel analytics play a pivotal role in this journey. Businesses leverage data insights to understand customer behavior across channels, identify pain points, and optimize their strategies for continuous improvement. The ability to adapt based on analytics ensures that the omni-channel experience evolves with changing customer expectations.
Future-Proofing Through Innovation: Embracing Emerging Channels
The omni-channel landscape is dynamic, with emerging channels continually reshaping the customer journey. Future-proofing through innovation involves staying ahead of the curve, exploring and adopting new channels, and integrating them seamlessly into existing strategies. Whether it’s incorporating voice assistants, augmented reality, or other emerging technologies, businesses at the forefront of omni-channel mastery embrace innovation as a means of enhancing customer experiences.
The mastery of omni-channel strategies signifies the harmonious blend of efficiency and experience in the customer journey. Businesses that weave interconnected experiences, streamline interactions, personalize journeys, respond in real time, break down silos, embrace fluidity, leverage analytics, and innovate continuously are the architects of transformative customer experiences. The synergy of efficiency and experience in the omni-channel realm isn’t just a strategy; it’s a commitment to meeting customers where they are and guiding them seamlessly through a journey that transcends individual channels.
Businesses are increasingly recognizing augmented reality (AR) as a strategic cornerstone with the potential to redefine success in an ever-changing technological landscape, rather than dismissing it as a transient trend. However, when aiming for sustained benefits beyond quick wins, the critical evaluation of the Return on Investment (ROI) for augmented reality becomes paramount. This post will examine how companies can measure the benefits of augmented reality for sustained success.
The hype surrounding AR is undeniable, but businesses must move beyond the dazzle and delve into the substance. The AR odyssey begins with a clear understanding of the technology’s potential applications within the business landscape. From enhancing customer experiences to streamlining internal processes, AR is a versatile ally that can impact various facets of a business.
At the heart of the ROI equation lies customer engagement. AR has the power to transform ordinary interactions into immersive experiences. Whether it’s virtual try-ons for retail, interactive product demonstrations, or AR-enhanced storytelling, businesses can leverage AR to captivate their audience. The longer and more enjoyable the customer interaction, the higher the potential for conversion and loyalty.
For e-commerce, the ROI of AR isn’t just a metric; it’s a game-changer. AR-driven features like virtual fitting rooms, 3D product previews, and interactive catalogs remove the barriers of online shopping, providing consumers with a tangible experience. Reduced return rates and increased customer satisfaction become tangible indicators of the impact of AR on the bottom line.
The impact of AR isn’t confined to customer-facing realms. Businesses can harness AR to empower their workforce, enhancing operational efficiency and reducing errors. AR-guided assembly processes, remote assistance, and training simulations contribute to a skilled and confident workforce. The ROI here is reflected in improved productivity, decreased training costs, and minimized errors.
Further, quantifying the impact of AR requires a robust analytics framework. Businesses can track user interactions, dwell times, conversion rates, and other relevant metrics to gauge the effectiveness of AR initiatives. The ability to gather insights into user behavior within AR experiences provides valuable data for refining strategies and optimizing the immersive journey. The ROI of AR extends beyond immediate financial metrics; it’s intertwined with brand differentiation and loyalty. Businesses that integrate AR seamlessly into their brand narrative create a unique identity. This distinctiveness not only attracts attention but also fosters a sense of loyalty among consumers who appreciate and remember the brand’s commitment to innovative experiences.
While the potential of AR is immense, its successful integration requires overcoming implementation challenges. From initial costs to technical hurdles, businesses must adopt a long-term perspective. Investments in AR technology should be viewed as strategic assets that contribute to sustained growth, acknowledging that the full ROI might not materialize overnight. The AR landscape is dynamic, with continuous advancements and emerging technologies. Businesses seeking sustainable growth through AR must embrace adaptability. Future-proofing AR strategies involves staying abreast of technological developments, being open to evolving trends, and ensuring that AR initiatives align with changing consumer expectations.
The ROI of AR isn’t just about immediate financial gains; it’s a multidimensional evaluation of impact across customer engagement, operational efficiency, brand narrative, and workforce empowerment. Businesses that navigate the AR odyssey with a focus on long-term sustainability, backed by robust analytics and a commitment to innovation, are poised to augment success and redefine the business landscape. The ROI of AR isn’t just a metric; it’s a strategic compass guiding businesses towards a future where augmented realities contribute to lasting prosperity.
The expression “lights, camera, action” has a new meaning in the digital age as companies use the potent force of video marketing to not only draw viewers in but also convert those views into hard-earned money. Let’s take a trip through the exciting and profitable realm of video marketing monetization, from YouTube sensations to your brand’s success story.
Getting noticed demands more than simply a well-lit stage in a world where people’s attention spans are comparable to those of goldfish. Content that captivates, amuses, and connects with your audience is required. The secret is to keep your audience riveted to the screen, anticipating the next scene in your brand’s movie, whether it’s through heartwarming stories, hilarious sketches, or jaw-dropping tutorials.
The camera isn’t just a recording device; it’s the storyteller’s best friend. Brands that understand the art of crafting cinematic narratives weave stories that go beyond product features. From the opening sequence to the grand finale, every frame should contribute to the overarching plot of your brand. It’s not just about selling; it’s about creating an emotional connection that transforms viewers into loyal fans.
While views are great, action is where the real magic happens. Every video should have a purpose – a call to action that propels viewers to the next stage of their journey with your brand. Whether it’s subscribing, clicking a link, or making a purchase, the action is the crescendo that turns passive viewers into active participants in your brand’s success story.
Secondly, Product placements don’t have to be boring or intrusive. Embrace the art of playful integration. Whether it’s seamlessly showcasing your product in action during a comedy sketch or subtly incorporating it into the plot of your mini-drama, the key is to make it feel natural. When done right, it’s not just a placement; it’s a style statement that leaves an impression on your audience. While ad revenue is a tempting stream, true video marketing maestros explore diverse monetization avenues. From sponsored content and affiliate marketing to exclusive memberships and merchandise tie-ins, the possibilities are as vast as the video landscape itself. Monetizing moments goes beyond the initial view count; it’s about transforming those moments into a revenue-generating symphony.
Why settle for a passive viewing experience when you can invite your audience on an interactive adventure? From interactive quizzes to choose-your-own-adventure-style videos, brands that break the fourth wall and involve viewers in the storytelling process create an immersive experience that goes beyond traditional marketing. It’s not just watching; it’s participating in the brand’s journey.
Further, a peek behind the curtain and let your audience see the real stars – the people behind the brand. Whether it’s quirky office antics, day-in-the-life vlogs, or candid moments during product development, showcasing the human side of your brand builds authenticity. People don’t just buy products; they buy into stories, and the stories behind the scenes are often the most captivating. It’s safe to say that the key to sustained success in video marketing is mastering the art of the sequel. From ongoing series to follow-up videos that continue a narrative or delve deeper into a topic, creating a sense of anticipation keeps your audience coming back for more. It’s not just a one-hit wonder; it’s a saga that unfolds over time, building brand loyalty with each new episode.
From lights to camera to action, the journey of monetizing video marketing is a thrilling ride that transforms your brand from a mere spectator to the star of the show. With captivating content, cinematic narratives, compelling calls to action, playful product placements, diverse monetization strategies, interactive adventures, behind-the-scenes shenanigans, and a sequel strategy that keeps viewers hooked, your brand is ready to take center stage in the blockbuster of its own success story. So, grab your popcorn and let the video marketing extravaganza begin!
Wipro Consumer Care – Ventures, the venture funding division of Wipro Consumer Care and Lighting, announced on Saturday the initiation of its second fund, with a total capital of INR 250 crore. This new fund, labeled Fund II, is dedicated to supporting investments in consumer startups across India and Southeast Asia, as outlined in the company’s official statement.
“We would look for e-comm driven companies at Pre Series A onwards, with minority stake approach (up to 25 per cent), and continue with our strategy of helping and nurturing the startups as required,” it added.
Wipro Consumer Care – Ventures, launched around four years ago with a corpus of INR 200 crore, has made 10 investments so far.
“The fund performance is robust with MOIC (Multiple on Invested Capital) running at over 2.2x as well as strong IRR (internal rate of return), which are above market benchmarks,” it said.
Wipro Consumer Care – Ventures has undertaken partial exits from two of its investments from the initial corpus up to this point.
Furthermore, the funding company stated, “In one of these investments, we have witnessed a 10x increase in a brief timeframe.”
“While a large majority of this fund has been committed, a couple of more new investments would be made from this fund as well as few follow ons too. Our portfolio construct is varied and a mix of investments in startups in India, in SE Asia, as well as in a VC fund,” it said.
Sumit Keshan, Managing Partner of Wipro Consumer Care – Ventures, emphasized that the primary focus will be on companies operating within various categories and sub-categories such as personal care, skin care, home care, wellness, food, fragrances, and BPC (Beauty and Personal Care).
“Geo coverage would continue to be India and Southeast Asia where we feel we can add value beyond providing capital. We have been successful in value-adding to our investments by providing support in terms of offline focus, R&D, sourcing (specifically from overseas vendors), helping identify third-party manufacturers, finance discipline, etc,” he added.
In the fiscal year 2023, Wipro Consumer Care and Lighting, a division of Wipro Enterprises led by Azim Premji, has achieved a significant milestone by surpassing INR 10,000 crore in total sales.
Engaged in the Fast-Moving Consumer Goods (FMCG) and lighting sectors, Wipro Consumer Care and Lighting has diversified its portfolio by venturing into the food segment through the acquisitions of Nirapara and Brahmins.
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