Domino’s is set to initiate a trial of its collaboration with Uber Eats starting next year, as indicated in its most recent trading update.
As per Domino’s Pizza Group, the master franchisee for Domino’s in the UK, this decision follows the brand’s announcement of a worldwide partnership with Uber Eats.
Domino’s has revealed the opening of 45 restaurants in 2023, collaborating with 20 distinct franchise partners. This marks a change from the same period last year when 21 restaurants were opened, involving 13 different franchise partners.
Domino’s anticipates opening a minimum of 60 new restaurants by the year’s end, a notable increase from the 35 opened during the corresponding period last year. Additionally, the pizza brand has disclosed plans for the development of 45 new restaurants in 2024.
“We’ve continued to make great strategic progress to drive sustainable growth. As we look into next year, we see inflation stabilising and our focus will be on continued customer and order growth, as well as franchisee profitability. We remain confident that our resilient, asset-light business model will deliver further financial and strategic progress, and increased returns for our shareholders,” Andrew Rennie, CEO of DPG said.
Domino’s saw like-for-like sales increase by 3.7% in Q3 2023.
Current Foods, FoodSquared, Revo Foods, and other producers of alternative seafood have collaboratively founded Future Ocean Foods, an organization dedicated to advancing and promoting this innovative food category.
Future Ocean Foods comprises 36 member businesses spanning 14 countries, including the United States, Canada, the United Kingdom, and Singapore.
Its stated aim is to “promote food security, human health, environmental sustainability and ocean conservation,” said the alliance in a statement.
The group’s member businesses are manufacturers with diverse portfolios encompassing “plant-based, fermentation, cultivated-food, and technology.”
A common denominator among members is that all “have received significant venture capital from the world’s leading food and climate investors and are already working with large legacy seafood companies to create sustainable food options”.
“Alternative seafood is a relatively nascent but fast-growing industry, helping to solve key challenges facing the growing global demand for protein,” said the industry group.
Marissa Bronfman, executive director of Future Ocean Foods, said, “This is an incredible moment in time for the future of food and our oceans. Alternative seafood offers us the opportunity to build a more delicious, nutritious, sustainable and ethical global food system.”
Members of Future Ocean Foods have developed alternatives to seafood, including whole-cut salmon fillets, sushi-grade tuna, smoked salmon, flaky white fish, shrimp, crab, and calamari.
The alliance expressed its desire to propel the alternative protein industry “beyond the burger and the nugget,” transcending North American dietary norms. The group emphasizes the significance of this shift, pointing out that “more than three billion people around the world rely on seafood as their primary source of protein.”
“There have been enormous recent developments in advancing the taste, texture, nutrition and price of seafood alternatives,” it said..
The industry organisation said that “invested capital into the space grew 92% from 2021 to 2022 and US retail sales grew 42% over a similar period,” without citing the source of data.
The relevance of this step is that global fisheries are predicted to collapse by 2048, “due to human-led destruction and climate change”, said the group.
“The global seafood industry is projected to surpass $700bn by 2030, however, wild catch and aquaculture simply cannot – and should not – fulfil this demand,” Future Ocean Foods said.
“As we prepare for a future population of ten billion people by 2050, the need for creating and scaling sustainable protein sources has never been more urgent.”
Jon Burton, a business unit director for marine protein at seafood giant Thai Union, told an industry conference recently that the biggest barrier to shoppers choosing alternatives to seafood is the health benefits they see in eating traditional seafood.
Food and beverages company, The Montana Group, marked its venture into the lifestyle retail sector on Monday with the grand opening of its flagship store, Brands Unlimited, in Noida.
According to the company, Brands Unlimited is poised to revolutionize the retail landscape by providing an unmatched assortment of luxury brands and products. The establishment boasts an extensive collection of premium brands encompassing sportswear, fashion, and accessories, all housed conveniently under one roof.
“We are dedicated to providing our customers with a one-of-a-kind shopping experience, offering a diverse range of premium brands and products that cater to their evolving tastes and needs…we have a pipeline of 15 stores over the next 3 years with a capital investment outlay of INR 100 crore plus,” said Monty Singh, Founder and Chairman of The Montana Group, as per the statement.
It was mentioned that the primary store would be located in the central area of Noida within the Gulshan One29 complex.
Manoj Madhukar, Founder & CEO of The Montana Group, said, “Brands Unlimited is more than just a store, it’s a reflection of our commitment to excellence and innovation. We are excited to introduce a wide array of premium brands in sportswear, fashion, and accessories, all under one roof.
“Our aim is to offer our customers a shopping destination that caters to their diverse preferences, from sustainable and vegan options to the latest in fashion and lifestyle trends,” he added.
Catering to those with a penchant for fashion, Brands Unlimited has unveiled an extensive selection of top-tier sportswear brands. This includes exclusive offerings from Nike, featuring the coveted Air Jordans collection, as well as the latest releases from Puma, Sketchers, Adidas, and Reebok. These offerings are tailored to meet the preferences of active lifestyle enthusiasts.
“An exciting addition to Brands Unlimited is the launch of the first Zouk offline store in North India, specializing in premium vegan women’s accessories, adding a touch of sustainability and elegance to the store’s offerings. Furthermore, the renowned Rare Rabbit range of apparel is now available, renowned for its unique style and quality craftsmanship,” the statement said.
Benu Sehgal, COO, Gulshan One29, shared her perspective on the project, stating, “Gulshan One29 was conceived as more than just a commercial complex. It was envisioned as a destination and community connect area that would offer an array of experiences.”
“With a mix of movies, food courts, restaurants, retail, premium supermarkets, and a large entertainment zone, it’s our endeavour to create a space where people can come together, not just for shopping but for a comprehensive lifestyle experience. Brands Unlimited is a significant addition to this vision, and we are thrilled to have The Montana Group as a partner in making this dream a reality,” she said.
Hospitality technology firm OYO announced on Monday its plan to expand its platform by incorporating 750 hotels within the next three months across over 35 leisure markets. This strategic initiative is geared towards tapping into the festive and winter tourism season.
The company stated that a significant portion of the new hotels will be integrated under OYO’s premium brands, including Palette, Townhouse, Townhouse Oak, and Collection O.
OYO emphasized that its primary target markets for the addition of new hotels include Goa, Jaipur, Mussoorie, Rishikesh, Katra, Puri, Shimla, Nainital, Udaipur, and Mount Abu.
“Our expansion in these leisure markets also aligns with our mission to provide quality accommodations and memorable experiences to travellers. The influx of new hotels will not only boost tourism, but also provide employment opportunities for local communities,” OYO Chief Merchant Officer, Anuj Tejpal said.
Referring to a recent government report, OYO stated that the influx of foreign tourists to India in the first half of this year (January-June) has witnessed a 106% increase compared to the corresponding period in 2022.
“As we head towards one of the most important seasons for tourism, it is heartening to see the number of foreign travellers increase in India after the Covid lull,” Tejpal said.
The high season, which typically runs from October to January, sees an influx of both domestic and international tourists, making it a crucial period for the tourism and hospitality industry.
OYO said it has also introduced a stay now pay later (SNPL) option to provide travellers greater flexibility while planning their travels. SNPL provides customers with a credit limit of INR 5,000 which can be settled after 15 days of the stay.
In the relentless pursuit of combating the detrimental effects of pollution, heat, and chemical treatments on hair, Clensta, a pioneering personal care brand, introduces a groundbreaking solution with its new Eggstreme range. Recognizing the rejuvenating potential inherent in egg protein, Clensta seamlessly integrates this natural elixir into a comprehensive line of products. These formulations are meticulously designed not only to revitalize and nourish hair but also to foster the growth of eyelashes and eyebrows.
Partner and Investor, Parineeti Chopra said, “I’m very excited to introduce our customers to Clensta’s revolutionary Eggstreme range. We’ve taken the goodness of nature, deployed innovative technology, and backed our R&D with science to present these products to you. This range is packed with the goodness of eggs, rich in protein, biotin, and Vitamins A and E, which promote hair growth, and renewal and provide nourishment to the hair roots. I am confident that once people use these products, they will be hooked on them. Can’t wait for you all to try our protein-packed bottles.”
The Eggstreme range by Clensta, crafted with the potent advantages of egg protein, stands out as an exceptional and efficient solution for holistic hair care. This collection heralds a natural approach to tackle the challenges presented by contemporary hair care practices.
McDonald’s Australia is set to open a new restaurant at Brisbane Airport’s Domestic Terminal in mid-2024.
Planned to be situated in a food court across from Gate 41, the upcoming restaurant will showcase kiosks, offering guests enhanced convenience and speed.
The restaurant company anticipates that the upcoming initiative will infuse A$7 million ($4.4 million) into the local economy and generate employment opportunities for 100 individuals.
Additionally, the upcoming restaurant will include a McCafé, expanding the array of choices available to customers.
McDonald’s Australia North Region regional director Alex Carapetis said, “We are excited to open our doors on McDonald’s Brisbane Airport Domestic and provide a space for travellers to enjoy a meal or coffee while they move through the airport.
“Every McDonald’s restaurant is committed to supporting the local community through providing jobs, training and development opportunities. We’re currently hiring a variety of crew, barista, management and maintenance roles in restaurants right across Brisbane.”
“We are passionate about supporting the professional development of our people and providing workplace skills applicable to any career, so apply today to join the crew.”
The planned McDonald’s location is part of Brisbane Airport’s terminal redevelopment plan.
Brisbane Airport commercial executive general manager Martin Ryan said, “If there is one thing BNE travellers have been asking for, it’s a Maccas. It has consistently remained the most requested retailer and we couldn’t be more delighted to deliver.
“The terminal redevelopment is part of the $5bn Brisbane Airport is investing in Future BNE.
“This stage of the project will deliver new and revamped food and beverage experiences, upgraded amenities and fresh gate lounge seating areas for passengers while they wait for their flights.”
Prithvi Raj Singh Oberoi, the Chairman Emeritus of the Oberoi Group of hotels and resorts, passed away at the age of 94 on Tuesday morning. In 2002, following the passing of his father and the founding chairman of the Oberoi Group, Mohan Singh Oberoi, he assumed the roles of Chairman and Director of EIH Limited. Prithvi Raj Singh Oberoi continued to serve as the CEO of EIH Limited until 2013.
The veteran of the hospitality industry passed away over a year after stepping down from his role as the Chairman and Director of EIH Limited.
In May 2022, the Oberoi Group head chose to resign from his position as the Chairman and Director of EIH Limited. According to a company filing, his nephew Arjun Singh Oberoi was promptly appointed as the Executive Chairman with immediate effect. In a letter, Vikram Oberoi, his son and Managing Director of Oberoi Hotels, mentioned that the industry veteran would now devote more time to his health.
Throughout his term, PRS Oberoi spearheaded the growth of Oberoi Hotels and Resorts. The seasoned professional in the hospitality industry also inaugurated numerous Oberoi Hotels in significant cities, establishing the hospitality group’s presence on the global stage.
“It is PRS Oberoi’s firm belief that people are the most valuable asset of any organisation,” the Oberoi Group website read.
He received education in India, the UK, and Switzerland. Additionally, in 1967, he founded The Oberoi Centre of Learning and Development in Delhi.
“A visionary leader, Mr. P.R.S. Oberoi’s unwavering dedication and pursuit of excellence elevated The Oberoi Group to international acclaim. His influence extended beyond corporate success, touching the lives of countless hoteliers through mentorship and a commitment to unparalleled standards,” the Oberoi Group said in an in-memoriam release for the industry titan.
He has been honored with numerous awards for his significant contributions to the hospitality industry. In 2008, Oberoi received the Padma Vibhushan in recognition of his outstanding service to the country in the realms of tourism and hospitality. Business India magazine bestowed upon PRS Oberoi the title of Businessman of the Year 2008 for establishing a world-class hospitality brand.
He received the Lifetime Achievement Award at the Ernst & Young Entrepreneur of the Year Awards for revolutionizing standards in luxury hotels. In November 2010, the patriarch of the Oberoi Group was honored with the 2010 Corporate Hotelier of the World award by HOTELS magazine.
The magazine cover hailed him as “the founding father of modern luxury hospitality in India,” attributing to him the expansion of the company “into one of the world’s most esteemed luxury hotel groups.”
In February 2013, The All India Management Association (AIMA) honored him with the Lifetime Achievement Award for Management. In 2015, he was recognized as one of CNBC TV18’s Top 15 Indian Business Icons.
PepsiCo, the American snacks and beverage giant, is set to allocate $53.3 million (SR200 million) for the expansion of a snacks facility in Saudi Arabia.
The proprietor of Lay’s crisps and Doritos brands has announced that the investment in its facility in the eastern city of Dammam will enhance the overall capacity to meet growing local and export demands.
It said that this initiative is part of its Saudi Arabia Vision 2030 plan, designed to enhance the Saudi agricultural sector and boost sustainable food production in the Kingdom.
The expansion of the site is anticipated to be completed by the upcoming year.
Established in 2014, the snacks plant originally operated as a 5,000 sq m manufacturing facility catering to Middle Eastern markets.
PepsiCo produces brands in Saudi Arabia such as Lay’s, Doritos, and Quaker Oats, in addition to the locally recognized crisp brand Tasali.
The capital expenditure initiative, disclosed during the Future Investment Initiative in Riyadh at the close of October, follows closely on the heels of the company’s announcement of an expansion to its snacking plant in the Brazilian town of Cabo de Santo Agostinho.
A new production line is set to be installed at the site, where Cheetos and Cebolitos snacks are manufactured for the local market.
Last month, PepsiCo released its third-quarter results. Net revenue increased by 8.9% year-on-year to $23.45bn while operating profit jumped to $4.02bn.
Its Africa, Middle East and South Asia unit, which includes Saudi Arabia, recorded revenues of $1.61bn for the three-month period, down from $1.72bn 12 months earlier.
BRF, a prominent Brazilian meat company, has decided to cancel the sale of its pet-food division, a plan that was initially announced over eight months ago.
The publicly-listed BRF announced that its management has opted to retain the pet-food business. The “competitive sale process,” initiated in February, has been discontinued.
“As the third-ranked player in the pet-food market in Brazil and leader in super premium natural pet feed, the company will continue to drive growth in this segment by increasing distribution through specialised channels, strengthening [the] brand’s strategy by segment and channel, consolidating integration synergies, and advancing the export expansion strategy,” BRF said in a statement on 13 November.
BRF had enlisted Banco Santander as its financial advisor for the divestiture of the pet-food business. In February, the company had initiated preliminary discussions with potential buyers. Bloomberg sources had indicated that, at that time, a potential deal could secure 2 billion reais (equivalent to $405.5 million today).
During 2021, BRF completed the acquisition of two Brazilian pet-food manufacturers, Mogiana Alimentos and Hercosul.
According to BRF’s 2022 annual report, the company’s pet-food segment encompasses BRF Pet, Mogiana Alimentos, Hercosul Alimentos, Hercosul Soluções em Transportes, Hercosul Distribuição, and Hercosul International. However, the report did not offer a detailed breakdown of revenues for this category.
As a complete entity, BRF disclosed an 11.3% rise in revenue for the year, reaching 53.8 billion reais. The report highlighted the pet-food brands GranPlus and Biofresh. BRF also noted a 9.9% increase in pet-food sales volumes during the fourth quarter.
In the fiscal year 2022, the group’s adjusted EBITDA experienced a 50.4% decline, amounting to 2.86 billion reais. BRF’s net income from continuing operations reversed from a 517 million reais profit in the preceding 12 months to a loss of 3.09 billion reais. On a consolidated basis, the overall loss reached 3.10 billion reais, contrasting with a profit of 437 million reais.
In its second-quarter results issued in August, BRF said pet sales volumes rose 5.3%, which included the lines Super Premium Naturals, Biofresh and Guabi Natural. Revenue for the quarter fell 5.7% to 12.2bn reais, with adjusted EBITDA down 32.7% at 10.01bn reais.
Net income from continuing operations was a 1.34bn reais loss, compared to a 451m reais loss a year earlier. Consolidated net income was a 1.34bn reais loss versus a 468m reais loss.
In a significant transaction within the Chennai grocery retail industry, WayCool, valued at INR 2,000 crores, has concluded its retail operations under the SunnyBee Market brand. Sources report that Fresh2Day has acquired the brand for an undisclosed amount.
WayCool will continue prioritizing the reinforcement of its supply-chain business, which currently encompasses over 20 distribution centers.
“Waycool continues its B2B enterprise business in the areas of fresh, staples, and dairy, supply chain management, and contract manufacturing,” the source said.
Established in July 2015, SunnyBee stands as a comprehensive premium food store, providing a diverse range of over 5,000 Stock Keeping Units (SKUs) spanning various categories, including regular and exotic fruits, vegetables, dairy products, staples, and both Indian and international foods.
With 11 outlets in Chennai, SunnyBee Market oversees SunnyBee Santhai, an interface connecting farmers and consumers. The SunnyBee mobile app facilitates doorstep deliveries, and within the store, customers can safely utilize the Self-Checkout service.
Fresh2Day, a Chennai-based food and grocery store, features a curated catalog of more than 200 carefully selected products.
“Our main goal is to provide a hassle-free and premium shopping experience with fresh and top-quality products at the lowest prices in the market,” says information in social media.
WayCool Foods stands as India’s foremost food and agtech platform, actively collaborating with over 200,000 farmers through its farmer engagement initiative, Outgrow.
WayCool’s portfolio of consumer brands includes Madhuram, Kitchenji, L’exotique, Dezi Fresh, Freshey’s, AllFresh, and Just Potate.
“With the addition of SunnyBee stores inventory and more, our plan is to reach 35+ Superstores by the end of this financial year,” stated T Annamalai, Founder & CEO of Fresh2Day.
Adding to this, he mentioned that Fresh2Day, boasting 23 retail Superstores in Chennai, has secured its position as the second-largest player in the fruit and vegetable format in the city.
“Sourcing is key and is the most important aspect of our business. We work with several farmers across south India through our collection centres, and our stringent quality checks makes this brand popular among customers,” he said.
“Fresh2day has hired most of SunnyBee’s staff as an internal understanding with its parent company. With this takeover, the company has more than 400+ staff taking care of the needs of its 10,000+ daily customers, said Sanjoy Das, Chief Strategy Officer, Fresh2Day.
R Sathyanarayanan, Associate Professor of Marketing, IFMR Graduate School of Business, Krea University, said, “Waycool is a strong supply-chain and agritech player. Though they manage various businesses in the farm-to-fork value chain, the multi-store, brick-and-mortar retail business is a different ball game and capital-intensive. To be a completely vertically integrated player at this point might dissipate the firm’s energy and resources. The move to focus more on the core business will help WayCool strengthen itself, he said.
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