Patanjali Foods Ltd. witnessed a sequential decrease in its revenue from edible oil sales as domestic prices softened, according to Chief Executive Officer Sanjeev Asthana. This was in line with a decline in global prices.
Due to a significant portion of edible oil being imported by India, alterations in global prices have some influence on domestic prices, according to Asthana. Consequently, Patanjali Foods experienced a decline in revenue during the July-September quarter, despite a marginal increase in sales volume.
He mentioned that palm oil futures on the Bursa Malaysia Derivatives Exchange dropped by 4.64% in the second quarter.
During the quarter ending in September, Patanjali Foods’ revenue from edible oil decreased to INR 5,421.5 crore, down from INR 5,890.73 crore in the preceding quarter.
The CEO mentioned that concerning the prices of edible oils, the worst has passed, and there is a likelihood of an increase in the next two quarters due to international factors.
Regarding transferring the price increase to consumers, he stated, “Usually, if there is a partial uptick, it can be passed on to consumers… It’s on a real-time basis.”
Growth in the quarter was propelled by new introductions in the food and fast-moving consumer goods sector, according to Asthana. He mentioned that there is a likelihood of ongoing new launches in this segment.
The revenue in the segment for Patanjali Foods increased to INR 2,487.6 crore, constituting 31.8% of its total revenue.
The FMCG company aims to achieve and sustain an Ebitda margin ranging from 16-18% in the food and fast-moving consumer goods segment and 2-4% in the edible oil segment, as stated by Asthana.
During Q2, the company expanded its palm oil plantation to cover 4,500 hectares across India, bringing the total plantation area to 68,498 hectares. Asthana noted that the effects of the palm oil plantation would become apparent in four to five years.
Jewellery brands are rushing to secure fresh celebrity endorsements, creating a surge in celebrity fees and the implementation of rigorous terms and conditions, both on a national and regional scale. However, there is a notable preference for endorsements from glamorous icons.
A high-ranking executive from a renowned jewellery brand, who preferred to remain anonymous, mentioned that the daily asking price for top-tier celebrities is approximately INR 8 crore.
“It’s becoming unviable for the business. Even at this hefty price, they are reluctant to give more than three days in a year to the brand they are endorsing, won’t change costumes more than two times on the day of shooting, and won’t work more than eight hours on that day including traffic time.”
He said the likes of Allu Arjun, who once billed INR 35 lakh a few years back, now demand around INR 6 crore per day, thanks to the staggering success of the movie Pushpa.
Madhuri Dixit commands INR 1 crore for an 8-hour commitment, while emerging actresses like Kiara Advani demand INR 1.5-2 crore per day, encompassing activities such as photoshoots, store openings, and participation in brand-related events. Anish Varghese, the head of marketing at Joyalukkas, expressed, “We’ve had Kajol as our brand ambassador for the past 8 years, and we’re actively searching for a new face. However, finding one is proving challenging, as every other jeweller has already secured someone from the new generation of actors.”
This year, Malabar Gold & Diamonds has enlisted the endorsement of Alia Bhatt, Junior NTR, Anil Kapoor, Kareena Kapoor Khan, and Karthik Sivakumar, commonly known as Karthi, renowned for his work in Tamil cinema. While Alia Bhatt is a new addition to Malabar’s roster, Junior NTR’s contract has been renewed, particularly notable for his popularity gained from the song Natu Natu in the film RRR.
Mia By Tanishq recently named Bollywood actor Rakul Preet Singh as its newest brand ambassador, while Zoya Jewels features Sonam Kapoor Ahuja as its face. Ajoy Chawla, CEO of Tanishq, revealed, “We have enlisted south Indian actress Nayanthara as our brand ambassador to bolster the brand’s presence in the southern region, where we intend to expand.” However, Chawla declined to disclose the specific terms and conditions of the agreement with the actress. It is rumored that Nayanthara commands INR 5 crore for brand partnerships.
Film stars from the South are experiencing a deluge of brand endorsements. Following the widespread use of the term “pan-India” in the aftermath of the successes of their films and OTT shows, actors ranging from Allu Arjun to Samantha Ruth Prabhu (known for The Family Man and Oo Antava) are attracting aggressive attention from advertisers. Insiders in the industry indicate that these South Indian stars are now demanding eight times their previous fees (pre-2021) for brand collaborations.
“We too are looking for one for our new line of silver jewellery. But everyone is booked. Thanks to social media like Instagram, Facebook or X, consumers can constantly see the celebs and therefore for jewellers, it acts as a major brand recall. So, the jewellers are chasing celebrities to endorse,” explained Saurabh Gadgil,MD of PNG Jewellers, adding that they are confident of getting a new face soon.
Suvankar Sen, Managing Director of Senco Gold and Diamonds, stated that his company has enlisted the services of Kiara Advani, emphasizing her high level of professionalism.
Indira Foods, a renowned home-grown company celebrated for its Ready to Cook/Ready to Eat millets (ragi) and various natural spice-infused pastes and food formulations with zero additives, is embarking on ambitious expansion initiatives in the Indian retail sector. The company is poised to introduce disruptive products, among them its novel rasam paste, and is excited to welcome industry veteran Ullas Kamath as an advisor to steer its trajectory. In conjunction with these developments, a state-of-the-art 1.2 lakh sq. ft. manufacturing facility in Karnataka’s Mandya District, backed by a INR 25 crore investment, is currently underway. It’s worth noting that film star Sathish Ninasam has been enlisted as the face of the brand.
Emerging from a humble garage, Indira Foods stands as a testament to women entrepreneurship, swiftly transforming into one of the most rapidly growing FMCG companies. Noteworthy for pioneering achievements, such as being the first to introduce Ragi products and holding the title of the largest exporter of 100 percent natural tamarind concentrate in India, the brand consistently pushes boundaries. Operating without debt and firmly established in both domestic and international markets, the company is ready to take substantial leaps forward in the Indian ready-to-cook product line.
Chairman of Indira Foods, Indira, stated, “New technologies and production features, coupled with healthy and nostalgic edibles, ensure qualitative offerings that align with the needs of the modern generation. We are the modern-day answer to modern-day needs with the old touch of quality and wellness.”
Vijay C, Director of Indira Foods, underscores the brand’s robust foundation and extends gratitude for the trust bestowed upon it by notable figures such as Ullas Kamath. He underscores the company’s objective to swiftly broaden its product range and workforce, with a target to onboard 100 new team members in the coming year.
Ullas Kamath, Chairman of FICCI Karnataka State Council and Advisor on the board for Indira Foods, expresses his delight in being part of the Indira growth story, emphasizing the brand’s commitment to providing wholesome, healthy, and homegrown food.
Operating across four product categories, Indira Foods currently features three brands: Indira’s, Splitz, and Pingani. The company, selling products in the private label segment and exporting to countries such as the US, UK, Netherlands, Germany, New Zealand, and the Middle East, is poised for substantial growth in the dynamic FMCG market.
In the bustling world of Quick Service Restaurants (QSRs), where each establishment vies for a distinctive flavor and identity, Cheesiano Group has carved a niche for itself with a delectable combination of innovation, authenticity, and a relentless pursuit of quality.
Cheesiano Pizza emerged from a simple yet profound idea – the power of freshness. In a market dominated by cold supply chain models, Cheesiano set out to differentiate itself by providing pizzas with fresh dough and crisp vegetables. According to Niraj Bora, Co-Founder, “Fresh dough and veggies make a lot of difference in the taste.” This commitment to freshness laid the foundation for a culinary journey that would soon extend beyond pizzas.
From Pizza to Burgers and Subs: A Diversified Triumph
The success story of Cheesiano Pizza is marked not just by its growth but also by diversification. In the past year alone, the brand has grown fourfold, adding two more brands under its umbrella – Burgerino and Saucy Subs. Monthly orders have surpassed 25,000, and the brand is eyeing a substantial expansion to 50 stores in the next two years, with revenues crossing an impressive INR 1 Crore monthly.
The thought process behind diversification was strategic. As the brand entered a growth trajectory, it sought to add more categories to its menu. The decision to venture into burgers and subs was influenced by market trends and consumer preferences. “Burgers are the largest segment after pizza in QSR, and they are still growing. Consumers have a higher frequency of eating burgers than pizza,” explained the Co-Founder. In the case of subs, the brand saw an untapped market and envisioned making it a mass-market product with Indianized flavors.
With a portfolio ranging from pizzas to burgers and subs, Cheesiano Group caters to a diverse customer base. Pizzas and burgers are considered mass-market products, while subs, a less penetrated category in India, cater to a more discerning audience. The brand plans to cross-sell its subs to existing customers of pizzas and burgers, ensuring a gradual but steady acceptance of the new offerings.
Focusing on Freshness, Quality, and Consistency:
In a competitive market, Cheesiano Group distinguishes itself through a focus on freshness, quality, and consistency. The emphasis on using fresh ingredients and making dough daily sets it apart from competitors. “We dispose of the remaining dough at the end of the day and make fresh every day,” says the Co-Founder. This commitment to maintaining the quality of the crust and overall product is a key differentiator.
Looking ahead, the Co-Founder sees numerous opportunities in the QSR space, including a growing market, urbanization, changing consumer habits, and more. While challenges exist, such as getting people to try the product for the first time, the brand is actively working on overcoming these hurdles. The focus is on delivering a top-notch customer experience from the first order to create repeat customers.
FOCO Model: A Recipe for Growth
The FOCO (franchise-owned company-operated) model has been instrumental in Cheesiano Group’s expansion. This model allows individuals who dream of owning a restaurant to sign up for a franchise with the company. The company then operates the store, utilizing its expertise in marketing, quality maintenance, and overall store management. The revenue is shared with the franchise in perpetuity, ensuring a win-win situation for both parties.
Vision for the Future: National Presence with Quality Intact
Cheesiano Group is not resting on its laurels. Recent innovations include the launch of its own app, consolidating all brands and categories under one platform. Future plans involve building an in-house fleet of riders to achieve 45-minute deliveries, further enhancing the customer experience.
Looking ahead, Cheesiano Group envisions a national presence, expanding city by city and state by state. However, the commitment to maintaining quality remains unwavering. The long-term goal is not just expansion but a strategic and measured growth that ensures each new venture upholds the brand’s core values.
For aspiring entrepreneurs, especially those venturing into the food and beverage industry, the Co-Founder of Cheesiano Group offers valuable advice. Find a niche, something you would personally enjoy and order frequently. Start small, perfect the offering, and then consider expansion. It’s a recipe that has clearly worked for Cheesiano Group, a brand that continues to redefine the QSR landscape with its commitment to quality and innovation.
The digital storefront has become a crucial area for brands to create and improve their visibility in the constantly changing world of commerce. In the world of online business, video marketing strategies in particular have changed the game. These advertisements not only highlight goods and services but also have the ability to enthral viewers, which has a long-lasting effect on customer involvement and brand recognition.
The Visual Appeal of Video
Videos have an innate ability to capture attention. It’s no secret that our brains are wired to process visual information more effectively than text. This is why video marketing has become a pivotal tool for businesses looking to stand out in the crowded digital marketplace. Whether it’s a product demo, customer testimonial, or a brand story, videos allow brands to tell their story in a visually compelling and emotionally resonant way.
Unveiling the Digital Storefront
The term “digital storefront” might conjure images of e-commerce websites, but in the context of video marketing, it’s about creating an online presence that showcases your brand’s identity and products in a visually engaging manner. Video content serves as the dynamic storefront that welcomes potential customers, invites them to explore, and entices them to stay.
Key Strategies for Enhancing Brand Visibility:
Educational Content: Videos can educate viewers about your products or services. Create informative videos that address common questions or concerns. Not only does this build trust, but it also positions your brand as an authority in your niche.
Storytelling: Every brand has a story to tell. Share your brand’s journey, values, and mission through video storytelling. This emotional connection can leave a lasting impact on viewers and forge a stronger bond.
Product Demonstrations: Showcase how your products work and the problems they can solve. Whether it’s through a step-by-step tutorial or a creative demo, videos can help potential customers understand the value your products bring.
Customer Testimonials: Real-life success stories from satisfied customers can be a powerful endorsement. Video testimonials create authenticity and build confidence in your brand.
Live Streaming: Platforms like Facebook Live, Instagram Live, and YouTube Live offer opportunities to connect with your audience in real-time. Host live events, Q&A sessions, or product launches to engage directly with your audience.
Social Media Integration: Share your videos across different social media platforms. Leverage the power of hashtags, shares, and likes to broaden your reach and engage with your audience.
Optimize for Mobile: As mobile device usage continues to rise, ensure your videos are mobile-friendly. Short, engaging videos that are easy to consume on the go can enhance brand visibility among smartphone users.
Measuring Success
One of the advantages of digital marketing is the ability to track and measure performance. Through analytics, you can gain insights into how your video marketing campaigns are performing. Metrics like view count, engagement rate, and conversion rate provide valuable data to fine-tune your strategies and enhance brand visibility further.
The digital storefront created by video marketing campaigns offers an immersive and dynamic platform for brands to connect with their audience. As consumers increasingly turn to online video for information and entertainment, businesses that embrace this trend are well-positioned to enhance their brand visibility and foster meaningful connections with their customers. So, the next time you plan your digital marketing strategy, remember that video is not just a tool; it’s the digital storefront that invites the world to explore your brand.
Hyphen, the visionary skincare brand, has reached a significant milestone with the much-anticipated introduction of The VIP Lip Balms, expertly presented by Kriti Sanon. Unveiled at the opulent Nykaaland event, a seamless blend of entertainment, beauty, and skincare, this launch underscores Hyphen’s unwavering commitment to delivering high-quality, effective, and affordable skincare solutions. Catering to the passionate demands of valued customers, Hyphen continues to set new standards in the realm of innovative and accessible skincare.
During the star-studded Nykaaland event, Kriti Sanon took the stage to personally unveil the Hyphen Lip Balm range, leveraging the offline platform to create an immersive and interactive experience. The occasion not only showcased the brand’s commitment to skincare excellence but also highlighted its responsiveness to customer preferences. This event stands as a testament to Hyphen’s dedication to delivering an exceptional skincare experience.
The recently launched Lip Balm collection features the Vitamin-Infused Peptide Lip Balm in Vanilla, designed to suit all skin types. This particular product provides profound hydration, smoothes the lips, and repairs the moisture barrier by utilizing the benefits of Peptides, Vitamin E, Linoleic Acid, Squalane, and Shea Butter. The Vitamin-Infused Peptide Lip Balm in Peach mirrors these same advantages.
For sun protection, Hyphen offers the All I Need LipScreen – SPF 30, Fragrance and Flavor Free, tailored for all skin types. This innovative solution harmoniously blends lip moisturization and sun protection, incorporating key ingredients like Vitamin C, Vitamin E, Kojic acid, and Avocado Oil, all enriched with Pomegranate Oil.
As the Chief Customer Officer, Kriti Sanon conveyed her pride and enthusiasm while unveiling Hyphen’s deeply hydrating lip balms, developed in response to widespread demand. The Nykaaland launch event showcased Hyphen’s dedication to cutting-edge skincare solutions, making the VIP Lip Balm line available for purchase on their official website and prominent e-commerce platforms like Nykaa, Amazon, and Flipkart. It represents a seamless fusion of science and nature to cater to all lip care requirements.
Gargi, a venture by P N Gadgil and Sons (PNGS), is further expanding its presence with the opening of its second store in the Wakad area of Pune. This expansion underscores the brand’s dedication to providing outstanding shopping experiences and an extensive selection of premium fashion jewellery, encompassing brass, 92.5 sterling silver, and their newly unveiled diamond collection.
Gargi’s expansion journey encompasses nine Shop-in-Shop stores across Mumbai, Nashik, and Bangalore, along with two group-owned shops in Pune and a franchise outlet in Vashi (Mumbai). Aditya Modak, Co-founder of Gargi by PNGS, conveyed enthusiasm about achieving this milestone, highlighting the brand’s commitment to reaching a broader audience and providing unique, top-notch jewelry.
Inspired by the esteemed ancient Indian scholar from the Ramayana era, Gargi personifies attributes such as beauty, honesty, style, fearlessness, and scholarship. Supported by the proficiency of P N Gadgil and Sons, Gargi upholds remarkable operational standards, a deep understanding of customer needs, and unwavering product quality.
Gargi has made a substantial impact on the Indian fashion jewelry industry, bringing innovation and quality to the forefront. Pursuing a strategy centered on growth, Gargi aspires to attain the milestone of becoming a 100-crore company in the coming two years, showcasing a dedication to excellence and ambitious expansion plans within the retail sector.
The recently inaugurated Pune store, coupled with the recent introduction of the diamond collection and the established presence in markets such as Nashik and Bangalore through Shoppers Stop, seamlessly aligns with Gargi’s objectives outlined in the annual plan for the financial year 2023-24.
Japanese instant noodle and ramen producer Nissin Foods Holdings has announced plans to invest $228 million in a new manufacturing plant in Greenville County, South Carolina.
The upcoming facility in South Carolina will mark the company’s third production site in the United States. Nissin Foods Holdings already operates plants in Gardena, California, and Lancaster, Pennsylvania.
Nissin stated that the investment will support the enhancement of its innovation pipeline, enabling it to better fulfill consumer demand.
Construction of the facility is scheduled to commence in December, with operations anticipated to begin in August 2025.
The 640,640 square foot facility will incorporate electric forklifts, solar panels, and EV charging points. According to the group, these initiatives are aimed at achieving carbon neutrality by 2050 and reducing carbon dioxide emissions by 30% by 2030.
The site will bring “hundreds of new jobs to the Greenville County community”, it said.
Nissin’s US portfolio includes the brands Cup Noodle, Hot & Spicy Fire Wok and Top Ramen.
The company’s other main markets in the Americas include Mexico and Brazil.
“For more than 65 years, our instant ramen products and brands have cultivated a loyal consumer base, which has fueled our relentless growth in the market,” said Michael Price, CEO and president of Nissin Foods’ US arm.
“With the south-eastern portion of the United States being a priority market for Nissin Foods, Greenville’s geographic accessibility, talented labour market, and competitive cost of living make it an ideal location for our new plant.”
Earlier this year, Nissin Foods set out plans to invest in its Lancaster plant. New manufacturing funding for its premium products at this facility grew by 15% as a result of the “unprecedented consumer demand” for its instant ramen goods.
Price added that having a third site “marks a critical turning point for Nissin Foods, solidifying our leadership position in the US market as we continue to grow the instant ramen category”.
In its latest financial statement covering 1 April to 30 September, Nissin Foods’ consolidated results included a 10.5% increase in revenue to Y350bn and 68.1% growth in core operating profit to Y48bn.
On a constant-currency basis, the group saw an 8.1% boost in revenue to Y342bn ($2.26bn) and a 63.4% increase in core operating profit to Y46bn.
General Mills has acquired a pet supplements business, marking the first purchase facilitated by the new “growth equity fund” of the US-based conglomerate.
The owner of Blue Buffalo pet food has acquired Fera Pets, a company specializing in the development and sale of supplements for dogs and cats.
A spokesperson from General Mills stated that their recently launched fund, announced on November 9 alongside the Fera Pets deal, is “dedicated to acquiring, scaling, and incubating businesses.”
The fund is part of a trio of units employed by General Mills for either investing in emerging businesses or cultivating its own products. These units are consolidated under a division known as Gold Medal Ventures.
301 Inc, previously functioning as the company’s innovation arm and later as its in-house investment vehicle, now serves as the deal-sourcing arm for the growth equity fund, as clarified by the spokesperson.
They added: “301 Inc will find passionate and driven founders, in or adjacent to General Mills’ current categories, with proven impact in the market. The growth equity fund is focused on acquiring, scaling and incubating businesses to accelerate their growth, providing them with access to General Mills’ talent and expertise, while remaining founder-led and independently operated.”
The spokesperson declined to comment when asked why General Mills wanted to set up the new fund when it had been using 301 Inc to make the investments.
They also refused to be drawn on the investment budgets the units have, or how many staff work within them.
Gold Medal Ventures’ third pillar is G-Works, set up in 2019 and through which the company develops and launches its own products.
Launches to have emerged from G-Works include “blood sugar friendly” snack brand Good Measure and lower net-carb pasta brand Carbe Diem.
Earlier this year, General Mills pulled another of G-Works’ products – the experimental non-cow milk cream-cheese brand – Bold Cultr from the market.
Dr. Michelle Dulake, a veterinarian and co-founder of Fera Pets, said the US-based company was “thrilled to join the General Mills family and embark on a new chapter of growth for our business”.
She added, “Fera Pets was created after recognising a lack of transparency in the pet supplement category and a gap in the market for a holistic approach to our pets’ wellbeing. With the support of General Mills’ scaling capabilities, we are looking forward to furthering our mission to create better lives for pets and their families.”
Fera Pets sells products including probiotic supplements and fish oil. Its products can be bought online, including through pet specialist Chewy, as well as through more mainstream retailers like Target.
Earlier this year, General Mills announced plans to close a pet-food plant in Iowa.
However, in March, the company set out plans to invest in its Blue Buffalo facility in Wayne County, Indiana.
The group’s recent investments in pet food have also included financial backing for US cat-food business Smalls.
In March, the New York-headquartered D2C start-up said it had raised $19m from investors including 301 Inc and the Mars-affiliated Companion Fund.
On Thursday, SPC Samlip Corp, a subsidiary of South Korea’s food and bakery giant SPC Group, announced that it had signed a business agreement with H Mart, the largest Asian food distributor in the US.
H Mart, renowned for its distribution of Asian food and groceries in North America, manages a network of over 120 stores across the US, Canada, and the UK. In the previous year, the company achieved a revenue of 4.3 trillion won ($3.2 billion).
Given the increasing global fascination with Korean cuisine, the company aims to broaden its presence in the US market through collaboration with H Mart, focusing on the promotion of Korean baked goods.
SPC Samlip intends to collaborate with H Mart to jointly develop and distribute a variety of bakery items through H Mart’s channels. Additionally, there are plans to diversify the product range to include other food items in the future.
“Through a partnership with a global large-scale distribution channel, we will actively expand into the U.S. bakery market and advance our global business,” an SPC Samlip said. “With Korea’s premier bakery technology, we aim to lead trends and vigorously pursue the overseas market.”
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