ALTAIR Hotel’s rendezvous redefines Indian gastronomy with a contemporary twist

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October 24, 2023

ALTAIR, the exquisite hotel in Kolkata renowned for its exceptional design elegance, is introducing a rejuvenated visual appeal along with a completely reimagined rendition of Rendezvous, showcasing Progressive Modern Indian Cuisine.

Rendezvous embraces innovation, creativity, and experimentation, all while remaining firmly anchored in the deep-rooted culinary traditions of the nation.

“Rendezvous represents a culinary masterpiece featuring Progressive Modern Indian cuisine. It reflects our dedication to innovation and creativity while paying homage to our deep culinary heritage. With its fusion of tradition and contemporary elements, Rendezvous is the place where timeless charm meets contemporary elegance, promising an enduring and unforgettable dining experience,” shared Nitin Kohli, CEO and whole-time director of AmbujaNeotia Group.

Rendezvous is poised to captivate guests with an extraordinary, incomparable, and continually evolving dining experience, firmly grounded in the innovative domain of Indian cuisine. By exploring novel and avant-garde culinary techniques, Rendezvous breaks free from the conventional perceptions often associated with Indian gastronomy.

From the inviting comfort of the leather chairs to the mesmerizing vistas, this setting cultivates an ambiance that harmoniously connects the realms of tradition and modernity. Rendezvous is the junction where ‘Timeless Charm’ converges with contemporary elegance, ensuring an unforgettable experience for all who step inside. The gleaming wooden floors carry narratives of enduring refinement, while the intricately carved wooden wall panels form a tapestry of artisanal mastery. Rendezvous strives to cocoon its patrons in a warm and reassuring atmosphere, invoking a captivating essence of heritage and artisanal craftsmanship.

Rendezvous seeks to offer a modern take on Indian cuisine by blending traditional recipes and locally sourced ingredients with global influences. The culinary team is committed to providing a dining experience that embodies the farm-to-fork philosophy, leaving a lasting impression on all guests.

Keurig Dr Pepper to invest $100 Million in expanding South Carolina coffee facility, creating 250 new jobs

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October 24, 2023

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Keurig Dr Pepper has revealed its commitment to invest an additional $100 million to further advance the expansion of its coffee roasting and manufacturing facility in South Carolina, USA.

As a result of this investment, Keurig Dr Pepper anticipates the generation of approximately 250 new job opportunities by 2027 at its Spartanburg County facility. This project represents a continuation of the facility’s phased construction, which commenced in 2019. Prior to this, KDP had already invested a cumulative total of $380 million in the facility, leading to the creation of 155 jobs at the site.

Keurig Dr Pepper’s facility in Spartanburg County is dedicated solely to coffee roasting and the packaging of K-Cup pods designed for use in Keurig brewers. KDP proudly states that this facility ranks among the world’s largest manufacturing sites with LEED certification, signifying its commitment to environmentally sustainable practices. LEED, which stands for Leadership in Energy and Environmental Design, represents the most widely adopted global standard for assessing and promoting green building initiatives.

The Coordinating Council for Economic Development in South Carolina has granted Spartanburg County a $1 million Set-Aside grant to support the expenses associated with enhancing building infrastructure.

KDP’s chief supply chain officer, Roger Johnson, said, “Our facility in South Carolina remains an important asset in the ongoing evolution of our next-generation coffee production capabilities. Keurig Dr Pepper is proud to continue to grow in the welcoming and talent-rich community of Moore. We greatly appreciate the support we have received from the State of South Carolina in helping to facilitate our ongoing investment and hiring needs.”

The further development of the facility is expected to be complete in 2027, with jobs opening in manufacturing and distribution operations.

Italy backtracks on EU oversight for proposed lab-grown meat ban

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October 24, 2023

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The Italian government has opted out of the EU oversight procedure concerning its plan to prohibit the sale of lab-grown meat.

Italy had previously lodged a Technical Regulations Information System (TRIS) notification with the EU, a process designed to forestall trade hindrances within EU member states. The government had submitted this notification to advance its legislation banning the sale of lab-grown food and animal feed, which it had proposed in March.

Minister of Agriculture Francesco Lollobrigida stated on his Facebook page that the notification has been “retracted as a gesture of respect for the efforts” of Italy’s government.

Nonetheless, his remarks hinted that the exit from the EU procedure might not signify the end of Italy’s intentions to prohibit the sale of lab-grown meat.

“The DDL [the initial phase of a law that is proposed by one or more members of parliament] has already been given the green light in the senate, it has just been approved in the commission of the chamber of deputies and will soon be discussed and, I believe, approved by the chamber of deputies,” he said.

Describing it as “only a matter of form”, Italy has therefore withdrawn the so-called TRIS notification with which the draft law was to be examined by the EU Commission and member states to assess whether the new rules comply with EU law on the single market.

In spite of this, Lollobrigida has asserted that the bill has received approval, dismissing the reports of withdrawing the “disegno di legge” (DDL) as “inaccurate.”

Earlier this year, the European nation passed the bill prohibiting the production of cell-based food and animal feed. This legislation entails that Italian companies are prohibited from manufacturing food or feed “derived from cell cultures or tissues sourced from vertebrate animals.” Violating these regulations could lead to fines of up to €60,000 ($65,022).

Lollobrigida added in his post, “I remind the report’s editorial staff that, as a public service, they should not spread fake news, or at least they should try not to. Not only do I not withdraw the DDL, but I am more convinced than ever that I must follow the indications of the municipalities, the regions (all of them) and the millions of Italian citizens who have explicitly asked us to protect our health and our economy.”

Francesca Gallelli, Italian policy consultant at global food system think tank the Good Food Institute, said: “We hope that the step backwards on the European examination indicates the government’s willingness to modify the text of the bill on cultured meat, guaranteeing compliance with Union law.

“Only a week ago, however, the parliamentary majority rejected all the changes to the text in the House Commission, including those that intended to harmonise the bill with European legislation, resolving its numerous and important critical issues.”

She added, “We hope that Parliament will avoid the adoption of a law that would cause a fragmentation of the European single market and would hinder the sustainable growth of the country, also causing immediate damage to Italian companies in the sector.”

Johnsonville appoints former Kraft Heinz executive Don Fussner as new CEO

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October 24, 2023

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Johnsonville, the renowned American meat products company, recognized as one of the nation’s top sausage producers, has announced the appointment of Don Fussner, a former executive from Kraft Heinz, as its new CEO.

Presently serving as the company’s CFO and COO, Fussner is set to assume the role of CEO in January, succeeding the retiring CEO, Nick Meriggioli.

Fussner became part of the Johnsonville team in 2019, initially as the CFO, and in 2022, he expanded his role to include COO responsibilities. Prior to joining Johnsonville, he accumulated 24 years of experience at Kraft Food.

Situated in Sheboygan Falls, Wisconsin, Johnsonville has its origins dating back to 1945, when the Stayer family founded a butchers’ shop. Remarkably, the same family oversees the company’s operations to this day.

Meriggioli assumed the position of CEO in 2015, succeeding owner Ralph Stayer, who had held the role for 47 years.

On his successor, Shelly Stayer, Johnsonville owner and chairperson, said,
“Don is a strategic and operational leader with proven success across the entire value chain. He is a strong coach and people-focused leader who will continue to prioritise Johnsonville’s unique culture.”

She commended Meriggioli for his contributions to the company and his exceptional leadership during the COVID-19 pandemic.

“If our culture remained a priority, high member engagement and business growth would follow,” Stayer said. “Nick has modelled that and has been a strong advocate for our Johnsonville Way culture, and we are especially grateful for his leadership.”

Johnsonville, which has manufacturing facilities in the American Midwest, now sells its sausages in 45 countries.

It produces more than 70 different types of sausage products, including: brats, grillers, Italian sausage, smoked-cooked links and breakfast sausage.

The company, which employs around 2,000 people, has the facilities to process 3,400 pigs daily.

Bella Bulgaria invests $72 Million to set up meat venture in Indonesia

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October 24, 2023

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Bella Bulgaria has initiated a $72 million investment endeavor by establishing a halal meat joint venture in Indonesia.

The Sofia-based supplier, offering meat cuts, sausages, salami, minced products, and ham, has confirmed the establishment of a “trade and investment cooperation” memorandum with Indonesia’s PT Garuda Mitra Utama.

In addition to producing pastry products, cheese, frozen vegetables, and cooking oils, Bella Bulgaria disclosed that the four-year agreement was sealed this week during the Indonesia-Europe Business Forum in Jakarta, organized under the auspices of the Ministry of Foreign Affairs of Indonesia.

Out of the entire investment sum, $38 million will be allocated for the establishment of a meat products factory in Indonesia, while the remaining $34 million will be directed toward the acquisition and provision of spices and herbs. Mitra Utama will integrate these ingredients into its own product range.

Bella Bulgaria manages a network of nine European factories situated in various markets, including its domestic market, as well as Greece, Romania, and Hungary. Among these facilities, there is a dedicated halal production plant located in Plovdiv, Bulgaria, where it manufactures rendang-padang, a well-loved spiced meat dish in Indonesia.

“By actively developing the activity of the rendang-padang factory in Plovdiv, we accumulated knowledge and experience, which we want to implement on a much larger scale in Indonesia,” Dimitar Mitev, Bella Bulgaria’s chief operating officer, said in a statement.

“The analyses of the markets and the taste preference of consumers in the southern hemisphere showed a potential for business growth in the field of meat processing in Indonesia and niches for new players in the market.”

Bella Bulgaria has enrolled in the “Indonesia: Spice Up the World” initiative initiated by President Joko Widodo, aimed at promoting Indonesian products on the global stage, stimulating the local economy, and fostering job opportunities.

Hendro Santoso, the CEO of Mitra Utama, said, “This is our first work project for cooperation with a European company and we have the opportunity to produce products based on traditional recipes with spices and herbs that are part of Indonesia’s cultural heritage.”

Speaking with the Indonesia Business Post, Hendro Santoso said the partnership has yet to determine the location of the joint-venture factory but it could be based in Jakarta or Bali.

“Our spices and seasonings will come from a collaboration with small and medium-sized enterprises from Sumatra to preserve the authentic flavour but the meat will come from Bulgaria. In essence, we can say it’s a collaborative effort, where it’s cooked there but under the supervision of both parties,” he told the publication.

Affinity Petcare to invest 20% of revenues in marketing as it targets top 3 position in India’s pet food market

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October 24, 2023

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Affinity Petcare, a Spanish company specializing in pet foods and healthcare, plans to allocate 20% of its Indian revenue towards marketing and promotional efforts. Their goal in India is to establish a prominent position within the clinical nutrition sector and become one of the top three players, as explained by Jordi Garriga, the International Business Director of Affinity Petcare.

Affinity Petcare has made its foray into the Indian market through a partnership with Scientific Remedies, a manufacturer of pet foods and products. Their initial product launch in India is the well-established Affinity Advance, which is the flagship brand of Affinity Petcare. This move comes as the Indian pet care market is anticipated to reach $1,932.6 million by the year 2030.

Garriga expressed the company’s ambition to secure a position among the top three leaders in the clinical nutrition sector within the upcoming 8 to 10 years.

According to the company, Affinity Petcare, a family-owned enterprise, is set to establish a portfolio of premium therapeutic, wellness, and specialty nutrition products for pets in the Indian market.

These products will be available for purchase at veterinary clinics, pharmacies, and pet shops affiliated with veterinarians.

Rakesh Mohan, executive director, Scientific Remedies, said Affinity Petcare is the world’s sixth largest pet food brand, and pointed to the existing potential to tap the India market. “The majority of pets in Indian households consume home food. But as disposable incomes grow, adoption to specialised pet foods and pet care is bound to increase,” Mohan said.

The company has set its sights on capturing a 20 percent market share within the pet food industry by the year 2033.

“The long term potential of this category is significant. The main task is to educate consumers and make the switch to specialised pet care,” Garriga said.

According to a report from Decipher Market Research Agency, India’s pet care industry is projected to experience a compound annual growth rate of 16.5 percent. The report highlights that the most rapidly expanding segments within the Indian pet care industry include food, accessories, grooming, and healthcare, which has garnered heightened investor attention due to its growing popularity.

In another report by Venture Intelligence, it was revealed that the pet care industry attracted investments totaling $77 million between 2021 and 2022.

In addition to this, prominent players such as Drools, Nestle, Mars, Emami, and Mankind Pharma have also been making substantial investments in the category.

Home-cooked Korean cuisine emerges as the most budget-friendly dining choice in the UK, study finds

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October 24, 2023

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A recent research project has shown that preparing Korean food at home is the most budget-friendly option, with the average cost of a single portion being £2.69 and just £10.79 to feed a family of four. This represents a cost that is less than half of what it typically takes to enjoy popular Chinese dishes like chow mein in the UK.

The results indicated that, when preparing meals at home, Japanese cuisine is the second most economical choice, coming in at around £10.79 for a family of four. Following closely is Mediterranean cuisine at £13.66, with Indian dishes at £17.57 and Chinese cuisine at the highest cost of £21.57.

This development coincides with a significant surge in dining-out expenses due to the ongoing cost of living challenges. According to a recent study by the Office for National Statistics (ONS), prices at restaurants and cafes increased by 9.1% over the year leading up to September 2023, marking a rise from 8.8% reported in June.

In light of the current scenario where the average UK household allocates approximately £23 per week, equating to £1,220 annually, to takeout meals, there is a growing call for Brits to adopt the “fakeaway” trend. By doing so, they could potentially save more than £900 each year, especially when considering that the average cost of a Chinese takeaway stands at £27.28.

Conducted by the Asian snack and beverage brand Kelly Loves, the study focused on five of the most beloved dishes from popular UK cuisines. It involved an analysis of the average cost of the ingredients required to make these dishes at home.

When it comes to affordability, making pizza from scratch proved to be the most cost-effective option, at just £1.10 per portion. Following closely are Korean green onion pajeon at £1.76, Japanese yakitori at £1.97, and, lastly, the Chinese favorite, chow mein, at £2.11.

A serving of katsu curry came in at an economical £3.64 per portion, which is approximately one-third the cost of the same dish when dining at well-known Japanese restaurants like Wagamama, where it would typically set you back £9.75.

On the opposite end of the spectrum, Chinese dim sum emerged as the priciest dish at £8.14, marking an eightfold increase in cost compared to pizza. This was followed by Chinese kung poa chicken at £6.95, the Indian classic lamb rogan josh at £6.58, and the Greek favorite moussaka at £5.70.

Kelly Choi, Founder of Kelly Loves, says, “For those looking to cut costs, popular Korean dishes such as fried chicken, pajeon, bibimbap, tteokbokki and bulgogi are the dishes to create at home if you’re looking at cost-saving options without compromising taste, flavour and variety. Most Korean dishes are simple – based on rice and vegetables, accompanied by meat or seafood, which can be budget-friendly if you compare supermarkets and visit your local food markets.

“Korean food mainly relies on spices and seasoning which give it its unique and well-known flavour. For example, sesame oil, soy sauce, salt, garlic, ginger, gochujang and kimchi are all well-known for their distinctive taste. All of these, once in the cupboard, can be reused frequently.

Korean culture places a lot of importance on sharing food. In Korea, banchan (Korean side dishes) sharing is a feature on the table at mealtimes and so meals are naturally more communal and therefore cost-effective. Every Korean dining table looks like there is a party taking place — full of variation and colour.”

Maharashtra Govt forms committee to explore tax reduction on beer to boost sales and revenue

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October 24, 2023

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With the goal of encouraging the consumption of healthier beverages, the Maharashtra government has established a committee to evaluate the feasibility of reducing taxes on beer. This strategic move aims to boost beer sales and generate additional revenue. The committee’s approach involves examining tax structures in other states for valuable insights.

A recently issued government report revealed a significant decline in beer sales following the most recent state excise tax hike, leading to a decrease in government revenue.

As per the government report (GR), beer was found to have a lower proportion of pure chemical spirits compared to hard liquors, and when evaluating taxes based on the pure spirits content, beer carried a higher tax burden than hard liquors like rum, whisky, vodka, and gin.

Throughout the world, especially in Europe, the United States, and Southeast Asia, the promotion of beer and wine is grounded in their natural fermentation processes, with a substantially lower pure chemical spirit content (up to 14%) in contrast to hard liquors, which typically feature 42% pure spirits.

The country’s brewing associations have drawn the government’s attention to the issue of dwindling patronage for beer, citing the higher taxes imposed on it, despite its lower pure spirit content, as reported by the GR.

The GR has additionally highlighted that various states experienced increased revenue after reducing taxes on beer. The formal recommendations will be made by the study group led by the additional chief secretary of excise after conducting its own comprehensive research.

The committee, comprising the excise commissioner, deputy secretary of excise, a representative from the All India Brewers Association, and the additional commissioner of state excise, has been tasked with delivering its report along with recommendations within the span of one month.

Pernod Ricard India Unveils Employee Involvement in Delhi Excise Policy Controversy

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October 24, 2023

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The Indian division of Pernod Ricard has reported that its internal investigation has uncovered the involvement of specific employees in interactions with the government and key individuals associated with the discontinued excise policy in Delhi.

“The company had engaged an independent third party to carry out an internal investigation on the Delhi Excise policy issue which highlighted certain findings including involvement of certain employees in activities relating to formulation and implementation of Delhi Excise Policy 21-22 and engagement with government officials and other third parties/alleged key conspirators/specific distributors/retailers,” Pernod said in its latest annual filings with the Registrar of Companies. It added that these findings are not conclusive in nature, given the ongoing investigation and are subject to interpretations by the legal counsel.

Pernod Ricard India Reveals Employee Role in Delhi Excise Controversy!

The French alcoholic beverage company’s license in Delhi was not extended, as investigating authorities implicated the company in a suspected corruption and cartelization case associated with the excise policy. In a related development, the Central Bureau of Investigation arrested former Delhi deputy chief minister Manish Sisodia in February for his alleged involvement in the same excise-related case.

“We are currently assessing the conclusions of the third party. Furthermore, as the matter is sub-judice, we are unable to comment on the allegations made by the ED and on the findings resulting from the internal investigation. In line with its local and international standards, Pernod Ricard India has been very solicitous about its legal and ethical obligations, including fully co-operating with government agencies in the investigation of the Delhi Excise Matter, ” said a Pernod Ricard India spokesperson.

Pernod Ricard News — Pernod Ricard (Representative Image)

In November 2021, the Delhi government opted to withdraw from the liquor retailing sector, entrusting it to private companies. Nevertheless, in the preceding year, it returned to the previous policy. Investigative agencies have alleged that this policy facilitated the clandestine creation of cartels and allowed for substantial wholesale profit margins of 12% and retail margins as high as 185%.

The Enforcement Directorate (ED) has made allegations against Pernod Ricard, the owner of Blenders Pride and Royal Stag brands, asserting their involvement in retail cartelization, money laundering, false price declarations, and obtaining international approval for corporate guarantees to aid suppliers, thereby creating circumstances that would confer a strategic advantage in 20 out of the 32 proposed zones in Delhi.

“Based on legal counsel’s review of the complaint, the company’s exposure in terms of civil liability under PMLA could be equivalent to ‘5,637 million as quantified in the ED’s complaint, though the final outcome cannot be determined with any degree of certainty at this stage,” Pernod added.

Flipkart India’s B2B Arm Sees FY23 Loss Surge to INR 4,846 Cr Despite Revenue Rise!

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October 24, 2023

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Flipkart India, the B2B arm of Walmart-owned Indian e-commerce giant Flipkart, witnessed a substantial upsurge in its standalone net loss during the financial year 2022-23 (FY23). The net loss ballooned by over 42% to INR 4,845.7 Cr, compared to INR 3,404.3 Cr in the previous fiscal year, primarily due to stagnant income and escalating expenses.

The B2B division of the company, responsible for supplying products to online sellers who then list them on Flipkart’s online marketplace, Flipkart Internet, experienced a modest 9.7% growth in operating revenue, reaching INR 55,923.9 Cr.

During FY22, Flipkart India recorded an operating revenue of INR 50,992.5 Cr, marking a year-on-year (YoY) growth of 18.7%.

Walmart’s E-commerce Titan, Flipkart India!

The majority of its revenue is generated through the sale of traded goods, supplemented by earnings from transaction fees paid by vendors and the provision of logistics services.

During the year under review, it generated INR 55,310 Cr in revenue from product sales and INR 513.9 Cr from service sales.

Taking into account interest income and other non-operating sources, Flipkart India’s total revenue in FY23 reached INR 56,012.8 Cr, a notable increase from the INR 51,175.7 Cr recorded in the previous year.

amazon flipkart — (Representative Image)

With a 11.5% increase, Flipkart India’s expenses outpaced the growth in its top line. The company’s total expenditure in FY23 reached INR 60,858.5 Cr, compared to INR 54,580 Cr in the previous fiscal year.

The largest expenditure for the company was on the purchase of stock-in-trade, which surged by 1.1 times year-on-year (YoY) to INR 59,816.6 Cr during the year under review.

Additionally, employee benefit expenses experienced a slight uptick, rising to INR 639.2 Cr in FY23 from INR 627.4 Cr in the previous year.

In FY23, the company allocated INR 279.6 Cr toward employee share-based payments, a notable increase from the INR 264.5 Cr spent in FY22.

In the meantime, the inventories of finished goods, work-in-progress, and stock-in-trade decreased during the period.

Flipkart India Private Limited!

In FY23, Flipkart India maintained its receipt of capital from Flipkart Private Limited. Interestingly, despite the increased losses, Flipkart India’s cash and cash equivalents at the close of FY23 surged to INR 599.9 Cr, a significant rise from the INR 3.9 Cr recorded just one year prior.

During FY22, Flipkart’s e-commerce platform, Flipkart Internet, witnessed a significant year-on-year (YoY) increase in its net loss, surging by 1.5 times to INR 4,361 Cr.

At the same time, Walmart continued to increase its ownership in Flipkart. Over the six months ending on July 31, 2023, the US-based retail giant invested $3.5 billion to purchase Flipkart shares from non-controlling stakeholders.

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Pernod Ricard India Reveals Employee Role in Delhi Excise Controversy!

Walmart’s E-commerce Titan, Flipkart India!

Flipkart India Private Limited!