The Coca-Cola Company is poised to make a significant investment of INR 3,000 crore to establish a plant for beverage bases and concentrates in Sanand, Gujarat. This foreign direct investment (FDI) will be directed through International Refreshments (India) Private Limited (IRIPL), a subsidiary of The Coca-Cola Company, which is an American multinational.
The state government has allocated a plot of land measuring 1.6 lakh square meters (SM-52) in Sanand Industrial Estate-II for the plant. Government sources have verified that the approval process has been accelerated, underscoring the company’s dedication to its investment in Gujarat.
“Coca Cola has already made two large investments through its bottling partners in Gujarat. The government has fast tracked the process of approvals and has already made land allotment to the company,” TOI quoted senior officials in the state administration as saying.
The upcoming Sanand plant is anticipated to feature full automation, integrating robotic technology, Internet of Things (IoT), and machine-learning devices for continuous real-time monitoring and control of manufacturing processes. Furthermore, automated storage and retrieval systems will contribute to increased efficiency.
As per the TOI report, the company intends to hire approximately 1,000 individuals, encompassing both skilled and unskilled workers, during the construction phase. Once operational, the plant is expected to generate employment for about 400 individuals in operational and engineering positions, with an emphasis on promoting gender diversity.
The inception of this new plant is set to create a favorable ripple effect on related industries, such as packaging suppliers, flavor producers, engineering services, capital goods, and the automation sector.
Seattle’s Starbucks Corporation is feeling the rapid repercussions of escalating global political tensions, with a staggering loss of around $11 billion in value. This accounts for a significant 9.4% reduction in the company’s overall worth.
Within a span of 19 calendar days since its November 16 Red Cup Day promotion, Starbucks has experienced a significant 8.96% drop in shares, amounting to an almost $11 billion loss. This downturn is attributed to analysts’ reports highlighting slowing sales and a subdued response to the holiday season’s offerings.
The protests within the Seattle, Washington-based chain have profound origins, delving into delicate geopolitical matters. This situation unfolded when Starbucks Workers United, the union representing numerous baristas, sparked controversy with a tweet expressing solidarity with Palestinians, placing the company in a challenging position.
“Amid an ongoing boycott due to the Israeli occupation’s aggression against the Gaza strip, the undercurrent of discontent signals a challenging brew for the company’s future,” an industry analyst said.
Starbucks shares have undergone a continuous decline over 12 consecutive stock market sessions, marking the lengthiest downward streak since the company’s initial public offering in 1992. Presently, the stock is hovering around $95.80 per share, a notable decrease from its annual peak of $115.
While the company has refuted any wrongdoing in these situations, it grapples with the task of preserving its brand reputation amidst contentious global issues.
During a recent discussion with analysts, Starbucks CEO Laxman Narasimhan expressed optimism regarding the company’s diverse channels and its capability to connect with customers, despite challenges posed by macroeconomic factors and evolving consumer behaviors.
The current Starbucks boycott is part of a broader movement targeting various global brands due to their support for Israel. In Egypt, Starbucks reportedly had to let go of workers in late November, as the financial repercussions of the boycott took a toll, necessitating expense reductions.
On Thursday, senior executives announced that Giordano, the retail brand, aims to achieve a twofold increase in its apparel business revenues in India by 2024.
The Hong Kong-based company, which re-entered the Indian market almost a decade later, is positioned to end 2023 with a revenue of INR 20 crore from its apparel business.
In 2024, Ujjval Saraf, the director of Brandzstorm India Marketing, Giordano’s partner in India, stated that the revenue from Giordano’s apparel sales is projected to increase to INR 40 crore, with the number of points of sale doubling to 100.
Ishwar Chugani, a member of Giordano International’s management committee, mentioned that the company currently operates 108 points of sale in Myanmar and views India as a promising market.
Saraf stated that the objective is to achieve a revenue of INR 100 crore from apparel sales by 2026, accompanied by an expanded distribution strategy encompassing exclusive stores, shop-in-shop setups, and online marketplace presence.
Currently, around 20% of its sales originate from online marketplaces such as Myntra and Ajio. Additionally, the company is exploring the possibility of launching a dedicated website to facilitate direct sales to consumers, according to Saraf.
Brandzstorm sources all products sold under the brand locally, and Chugani mentioned that the company is also aiming to enhance its reliance on India for global sourcing.
Historically, the company has relied on Vietnam and China for product sourcing, but recently, Bangladesh and India have been included as additional sourcing destinations, he noted.
Chugani mentioned that within the next two years, a quarter of the group’s total units will be sourced from India. He also added that for the Gulf Cooperation Council countries, the current 25 percent will rise to 40 percent.
When questioned about the re-entry into India, Chugani, noting the company’s previous presence from 2008 to 2012, stated that they have learned valuable and “expensive” lessons from that experience, which they are now actively avoiding.
During its initial venture, the company opted for independent stores in prime locations without a local partner. Additionally, it had a local unit head who was not based in India, as noted by Chugani.
Although the partnership with Brandzstorm was established in 2019, it only came into effect in 2021, Saraf mentioned. Currently, the collaboration has resulted in 50 points of sale spanning 13 states and 23 cities.
Fashion-tech startup brand Newme has launched its first offline store at Infiniti Mall, Mumbai, according to a press release issued on Wednesday.
“As we continue to grow, we are excited about the journey ahead, expanding our retail presence to over 12 stores across India in the next year and connecting with even more fashion-forward individuals across the country,” said Sumit Jasoria, co-founder and CEO, Newme.
The company asserts that it experienced a tenfold increase in sales during a Black Friday event. The brand is currently prioritizing efforts to connect with a broader audience and extend its presence in retail, as stated in the press release.
Founded in 2022, Newme aims to reach over 500 million Gen Z customers in both India and Southeast Asia.
On Tuesday, the World Health Organization (WHO) urged nations to raise taxes on alcohol and sugar-sweetened beverages, emphasizing that too few countries were employing taxation as a means to encourage healthier behaviors.
Following an examination of taxation rates, the World Health Organization observed that the average global tax rate on “unhealthy products” was low. They suggested that increasing taxes could lead to healthier populations.
“WHO recommends that excise tax should apply to all sugar-sweetened beverages (SSBs) and alcoholic beverages,” the UN health agency said in a statement.
Excise taxes focus on specific goods and services.
The World Health Organization reported that annually, 2.6 million people succumb to alcohol-related causes, whereas over eight million deaths result from an unhealthy diet.
“Implementing tax on alcohol and SSBs will reduce these deaths,” it said.
It emphasized that such a measure would not only contribute to reducing the consumption of these products but also provide companies with an incentive to produce healthier alternatives.
The World Health Organization noted that while 108 countries levy some form of taxation on sugar-sweetened beverages (SSBs), the average global excise tax only accounts for 6.6 percent of the soda’s price.
The World Health Organization observed that half of those nations also impose taxes on water, a practice not endorsed by the UN agency.
“Taxing unhealthy products creates healthier populations. It has a positive ripple effect across society — less disease and debilitation and revenue for governments to provide public services,” said Rudiger Krech, the WHO’s health promotion director.
“In the case of alcohol, taxes also help prevent violence and road traffic injuries.”
The Geneva-based World Health Organization, on Tuesday, unveiled a manual on alcohol tax policy and administration for its 194 member states.
The statement suggested that implementing minimum pricing, in conjunction with taxation, could effectively mitigate the consumption of inexpensive alcohol, leading to a decrease in alcohol-related hospitalizations, fatalities, traffic infractions, and criminal incidents.
“A significant body of research has demonstrated that people who engage in heavy episodic drinking tend to drink the cheapest available alcoholic beverages,” it said.
National excise taxes on alcoholic beverages are implemented by 148 countries.
“However, wine is exempted from excise taxes in at least 22 countries, most of which are in the European region,” the WHO said.
On a global scale, the organization asserted that, on average, the excise tax accounts for 17.2 percent of the price of the most sold brand of beer, and for the most sold type of spirits, it is 26.5 percent.
“A pressing concern is that alcoholic beverages have, over time, consistently become more affordable,” said WHO assistant director-general Ailan Li.
“But increasing affordability can be curbed using well-designed alcohol tax and pricing policies.”
The handbook pointed out that the beverages industry frequently contends that alcohol taxes disproportionately affect the least affluent. However, it countered this argument by highlighting the “disproportionate harm per litre for alcohol consumers in lower socioeconomic groups.”
It’s time to trade the cozy confines of home for the celebratory spirit of the city, as Delhi comes alive with festive fervour this holiday season. It offers us gifts ranging from carnivals, events, and parties, to heartwarming initiatives that beckon everyone to step out and join the celebrations.
These events aren’t just another spectacle; they’re a delightful opportunity to drench oneself in the holiday spirit with friends and family. Venture out to discover more than just the merriment: from the enchanting allure of open-air cinemas under the stars to the vibrant charm of church bells, Delhi unfolds like what might seem to be one big tapestry of merry hustle.
Sacred Heart Cathedral, the largest church in Delhi, is hosting a spectacular Christmas carnival on the 10th of December, serving a noble cause, by channelling its proceeds towards providing free scholarships for deserving students. Embrace the spirit of giving while indulging in the heartwarming festivities curated by the organisation. A fun filled day awaits, featuring an array of authentic and delectable food, live cultural programs, Christmas carols sung in various Indian languages, adding a unique touch to the celebration.
Christmas Ornament Making Party
When & Where:
17th Dec (Sun) at Greenr Cafe, GK-1
23rd Dec (Sat) at The Palette, Dhan Mill Compound
Unleash your creativity and embrace the festive spirit at the Christmas Ornament Making Party hosted by Little Miss Makes, curated by Vasundhara Jain. Transform ordinary baubles into extraordinary treasures as Vasundhara guides you through the art of ornament making. Whether you’re a seasoned crafter or simply curious, this workshop welcomes all to indulge in the joy of crafting.
To Register: Contact 9910087608, or DM @littlemissmakes01 on Instagram
SSC Open Air Cinema: Home Alone 2
Take a journey down the memory lane with Sunset Cinema’s open-air screening of the holiday classic, Home Alone 2. This cinematic experience will be more than just a movie night – it’s a nostalgic embrace of the spirited holiday season.Gather your loved ones, bring a blanket, and immerse yourself in the heartwarming tale that brings back the magic of old times.
When & Where:
23rd Dec, Sat (6.30 pm onwards), Cyber Hub Gurgaon
24th Dec, Sun (6.30 pm onwards), Candor Techspace, Noida
Book your spot here: https://sunsetcinemaclub.in/delhi-ncr/events
Pacific Christmas Carnival
When: 23rd-24th Dec
Where: Pacific D21 Mall, Dwarka
Two days of joy, laughter, and festive delights! Explore the vibrant stalls adorned with Christmas cheer, offering a delightful array of seasonal treats, crafts, and gifts.
Book here: https://in.bookmyshow.com/activities/pacific-christmas-carnival/ET00377540
Christmas Party At the Gymkhana Club
When: 25th Dec, Mon (5pm onwards)
Where: Gymkhana Club, Sec 29 Gurgaon
Dance to the beats of the DJ, and indulge in a feast of mouthwatering delights, creating an atmosphere of joy and celebration. Let the festive spirit fill the air as you mingle with friends and family in the welcoming ambiance of the Gymkhana Club.
Book here: https://in.bookmyshow.com/activities/christmas-celebration-party/ET00376230
Don’t miss out—this year, let’s make our holidays sparkle beyond the familiar and create memories that echo with the laughter of shared celebrations!!!
For more, find your way into Delhi’s favourite Christmas markets for an even more indulging experience.
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.
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.
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.
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.
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.
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!
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.
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.
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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