Marcella Wartenbergh, the global CEO of Pepe Jeans, said India is poised to become its largest market in the next two years, outpacing its home country Spain and the UK. This growth is attributed to young consumers in India increasingly embracing Western-style clothing.
“We are witnessing rapid growth in India in comparison to more established markets, surpassing them in both sales and profit. Additionally, considering that Gen Z currently lacks substantial funds, it is predominantly millennials and Gen Y who will steer the market, and we must ensure that the brand aligns with their preferences,” remarked Wartenbergh. “A significant advantage for India is its proximity to suppliers, facilitating faster innovation processes.”
As a clothing retailer that also possesses the menswear brand Hackett, India stands out as the largest market in terms of volume, contributing to almost one-third of its global sourcing. Pepe India experienced a sales surge of over 50%, reaching INR 560 crore in the fiscal year ending March 2023, while its consumer revenue, as indicated by the price tag, surpassed INR 1,100 crore.
Nonetheless, menswear constitutes nearly 90% of the sales in India, a contrast to the 65% in Europe—a dynamic the company is now keen on altering. Pepe Jeans has set its sights on diversifying by expanding its offerings in footwear and women’s western wear, a sector currently dominated by global competitors such as Zara and H&M.
“We believe women are becoming much more modern in India driven by western influence, and are also playing an important role in business. If our women’s wear is just 30% of what we earn from men’s merchandise, the numbers will swell,” added Wartenbergh, who joined in 2019 replacing earlier CEO Carlos Ortega, a Spanish entrepreneur who still has a stake in the apparel and accessories group.
Scuzo Ice ‘O’ Magic, a dessert café in India, has garnered a reputation for its innovative live popsicle concept, experiencing substantial development under the guidance of Founder and Director, Mr. Gagan Anand.
Aligning with its growth-oriented approach, the company has appointed Mr. R.P. Mishra, an experienced professional, as its Chief Executive Officer.
Scuzo Ice ‘O’ Magic distinguishes itself by focusing on top-notch desserts suitable for a diverse range of age groups, ensuring delightful sweet moments without compromising on health.
The company takes pride in meticulously crafting gelatos, waffles, sundaes, and dessert cakes using only natural fruits and nuts. Their emphasis on purity and wholesomeness is evident in the careful preparation of these delightful treats.
“Scuzo Ice ‘O’ Magic has always been committed to delivering the best desserts to our customers. With Mr. R.P. Mishra joining us as the CEO, we are confident that his extensive experience and strategic vision will further propel the company towards greater heights. We are thrilled to have him on board,” said Gagan Anand, Founder and Director Scuzo Ice ‘O’ Magic.
R.P. Mishra, a distinguished graduate in BCA and a Microsoft Certified Professional, boasts a successful career spanning over two decades in the field of Information Technology (IT), with a specific focus on the Quick Service Restaurant (QSR) domain.
Throughout his professional journey, Mr. Mishra held key positions at prominent establishments like Domino’s Pizza, Barista Coffee, Baskin Robbins, and Maroosh, culminating his tenure as the Chief Operating Officer.
About eight years ago, Mr. Mishra began showcasing his strategic skills by venturing into operations and infrastructure enhancement, expanding his expertise.
As a result of this initiative, cloud-based brands such as Biryani Tales, Veg Meal Express, and Mediterranean Delights were established.
Efficiently overseen from Maroosh’s kitchen, these ventures underscored Mr. Mishra’s flexible leadership in navigating evolving industry dynamics.
“I am excited to join Scuzo Ice ‘O’ Magic, a brand that is synonymous with quality and innovation in the dessert industry. I look forward to contributing to the company’s growth and helping it achieve its ambitious goals of opening 100+ outlets across PAN India.. Together, we will continue to delight customers with the best desserts while upholding the values that define Scuzo Ice ‘O’ Magic,” said Mr. R.P. Mishra, CEO, Scuzo Ice ‘O’ Magic.
Scuzo Ice ‘O’ Magic believes that Mr. R.P. Mishra’s leadership will be instrumental in guiding the company toward sustained success and realizing its expansion objectives.
Nestle India was honored with the “Best Industry – Product Innovation for Mainstreaming Millets” award by Nutrihub, ICAR-IIMR during the acclaimed “International Nutri-Cereal Convention 5.0.” This recognition, presented at the event hosted by Nutrihub, IIMR-ICAR, underscores Nestle India’s steadfast commitment to excellence and innovation in the food industry. The convention successfully brought together a diverse range of stakeholders, including policymakers, producers, processors, researchers, academicians, R&D institutes, incubators, startups, micro-entrepreneurs, and NGOs operating in the millets ecosystem.
Commenting on the faster adoption of millets, Suresh Narayanan, chairman and managing director, Nestlé India said, “Nestlé India is deeply honoured to receive best industry- product innovation for mainstreaming millets award. This recognition is a testament to our commitment to providing nutritious and healthy food options to consumers across the country combined with the determination of the Nestlé India team to bring this vision to life. I am extremely pleased that we have launched millet-based products such as Nestlé a + Masala Millet with bajra, Nestlé CEREGROW grain selection with ragi, MAGGI Oats Noodles with Millet Magic with jowar and ragi amongst others. I extend my gratitude and sincerely congratulate the Government of India for being instrumental in bringing millets to the center stage and making 2023 the International Year of Millets. We believe this momentum of bringing millets or “shree anna” to the forefront needs to be sustained through partnerships between corporates, academics, and authorities.”
Dr. B Dayakar Rao, chief executive officer, Nutrihub said, “On behalf of Nutrihub, ICAR-IIMR and Poshak Annaj awards committee, I would like to extend my heartfelt congratulations to Nestlé India for their unwavering dedication and important contribution in the field of millets.”
Nestlé India’s efforts to encourage the adoption of millets underscore its dedication to fostering sustainable and varied food choices. Simultaneously, these initiatives demonstrate a commitment to supporting farmers and local communities, thereby contributing to the enhancement of the agricultural sector and creating positive social impact.
The inclusion of millets plays a pivotal role in advancing Sustainable Development Goals (SDGs) such as SDG-3, emphasizing good health and well-being, SDG-4, promoting responsible consumption and production, and SDG-5, addressing climate action. Nestlé India’s strategic emphasis on millets is positioned to have a substantial influence on the food industry, fostering the promotion of more sustainable food choices for consumers.
Cultsport, the direct-to-consumer (D2C) branch of Cultfit, specializing in the sale of sportswear, indoor fitness equipment, cycles, and more, is placing its strategic focus on offline retail. According to a senior executive of the company, Cultsport intends to establish an exclusive brand outlet every month as part of its expansion plan.
Shamik Sharma, the business head of Cultsport, said, “With more than 600 fitness centers throughout India, our goal is to have a comparable number of offline stores in the next three years. This is driven by the limited presence of sports retail shops in the country at present.”
Acknowledging the potential to launch numerous Exclusive Brand Outlets (EBOs) in the coming years, Sharma stated that the company plans to initiate the process by establishing one brand outlet every month in the upcoming months.
The company recently opened its first store in Bengaluru.
Cultsports, which began online sales in 2019 through the Cult application, expanded its presence across key marketplaces such as Myntra, Flipkart, and Amazon. It also adopted an omnichannel approach by selling in offline multi-brand outlets.
Sharma asserted that the brand experienced a growth of approximately 70 percent online last year.
According to Entrackr, the revenue generated from the sale of sports apparel and other products contributed INR 12 crore to the overall business of the company in FY22.
Commenting on the financial performance of the brand, Sharma said, “It’s our fastest-growing business unit.” He added that Cultsport contributes almost a third to Cultfit’s overall revenues and in a few years, he expects the retail arm to drive 50 per cent of the business.
“I think Curefit in the long run will be known for its Cult brand of both fitness centers as well as products.”
In terms of product categories, Sharma mentioned that the company is progressively venturing into new areas. While currently offering footwear, apparel, cycles, and cardio equipment, there are plans to expand into categories like outdoor hiking products, swimwear and accessories, and sporting goods, among others.
Red Rooster is intensifying its Christmas celebration by unveiling a new burger and bringing back its beloved classic Christmas promotion.
Infusing a classic roast essence into a fried chicken burger, Red Rooster is experimenting with the Chickmas Burger. This delectable creation features Red’s crispy fried chicken tenders, a novel stuffing-flavored mayo, and tempting Mash & Gravy balls nestled within a soft potato bun.
Exclusive to New South Wales (NSW), the new burger will have a limited-time availability at Red Rooster’s Bomaderry, Carlton, Ermington, Gregory Hills, Guildford, Mount Ousley, St Clair, and Wentworthville locations.
Simultaneously, the 25 Days of Christmas promotion by Red Rooster has returned. Over a span of four weeks, from November 30 to December 24, Red Royalty members can anticipate exclusive and thrilling offers landing in their accounts every week.
At the forefront of the Christmas promotion is a raffle, wherein a fortunate Red Royalty member stands a chance to win $10,000 in cash, while 10 other runners-up will receive Reds Merch packs, featuring prizes from the Sydney Roosters and St Kilda football clubs.
During the promotional period, members will also enjoy exclusive menu offerings.
McDonald’s bold move to assume more authority over its operations in China and pursue robust expansion amid a backdrop of diminished consumer activity and geopolitical challenges appears to carry risks. However, analysts emphasize that the potential rewards could be substantial.
Last month, McDonald’s successfully concluded a deal to reclaim the 28% stake in its China business that the Carlyle Group had acquired in 2017. This strategic move elevated McDonald’s ownership to 48% in a business valued at $6 billion, spanning operations in Hong Kong and Macau.
This decision starkly contrasts with the current trend among multinational corporations, which often involves scaling back investments in China or exiting the market entirely due to the challenges posed by geopolitics and the economy.
McDonald’s enjoys a notable advantage due to its majority partner in the China business, CITIC, which offers high-level political support, as noted by Jason Yu, the Greater China Managing Director of the market research firm Kantar Worldpanel.
“Having a very powerful Chinese state-owned conglomerate as a partner means they are not going to be at the forefront of the geopolitical situation; that is quite important,” Yu said.
McDonald’s China, Carlyle Group, and CITIC all refrained from providing comments.
Several other U.S. consumer-oriented companies, such as Starbucks, Apple, Tapestry (owner of Coach), and the sportswear giant Nike, have demonstrated a comparable commitment to the Chinese market.
Analysts suggest that Starbucks and Nike, confronting heightened competition from more affordable domestic rivals, underscore the importance of maintaining agility to safeguard and expand their market share.
The coffee behemoth adheres to its expansion strategy and introduced a smaller cup size, while in contrast, Nike has introduced localized, premium sneakers like the “Year of the Rabbit” Dunk Lows.
Utilizing funds from the Carlyle investment, McDonald’s has doubled its restaurant count since 2017 to reach 5,500, making the country its second-largest market. The company’s objective is to exceed 10,000 stores in China by the year 2028.
McDonald’s competitors are also extending their presence in China.
Yum China, the operator of KFC and Pizza Hut, among other brands, boasts a network of over 14,000 stores nationwide. Among domestic contenders, the chicken burger specialist Wallace announced in 2021 that it had achieved a presence in 20,000 stores, while the newer entrant Tastien, focusing on “Chinese-style” burgers, has established a presence in over 3,500 stores.
Certainly, Greg Halter, Director of Research at the investment advisory firm Carnegie Investment Counsel, pointed out that if relations between China and the West deteriorate, any sense of optimism could dissipate.
“If tensions deteriorate, we may see not only McDonald’s, but other companies divest their Chinese operations, similar to what has occurred in Russia over the past two years,” Halter said.
Yu emphasized the necessity for additional digitization and localization, highlighting that the key to capturing the palate in China’s $140.2 billion limited-service restaurant sector lies in effective localization.
While the McDonald’s China menu remains recognizable to U.S. consumers, there are subtle adaptations to cater to local preferences, such as offering a taro pie instead of the traditional apple pie.
Euromonitor projects that the market value of limited-service restaurants in China is poised to experience an average annual growth of approximately 4% through 2025. Among the limited-service burger-focused establishments in the country, McDonald’s stands out as the dominant player, commanding a substantial 70% share of the market.
Despite the challenges posed by China’s decelerating economic growth and subdued consumer spending this year, global businesses reliant on its consumer market have experienced financial setbacks. However, Ben Cavender, the Managing Director and Head of Strategy at China Market Research Group in Shanghai, asserts that McDonald’s is positioned favorably to surpass these challenges and outperform in this environment.
He noted that businesses like McDonald’s stand to benefit from a value-driven middle class and lower commercial rents throughout the country.
“If ever there was a time to double down on China, this is it,” he said.
In a distinctive venture within India’s retail landscape, GNC, synonymous with the ethos of “Live well,” announces its collaboration with Pawan Sehrawat, a prominent figure in the Pro-Kabaddi League. By aligning Pawan’s energy and intensity with GNC’s values, the brand aims to spotlight the unconventional sport of Kabaddi and celebrate it with the renowned sportsperson.
“GNC is pleased to work with Pawan, a stellar kabaddi player, whose journey and unwavering determination align perfectly with GNC’s mission to support athletes and sports that often go unhighlighted,” stated GNC.
The partnership endeavors to redefine backing for emerging athletes and their sports, providing them with cutting-edge nutrition, supplements, and wellness resources to elevate their performance. The collaboration seeks to foster a culture of inclusivity, determination, and excellence in the realm of sports.
“We chose Pawan as our collaborative partner because his commitment to personal growth, combined with our expertise in nutrition and wellness, forms a synergy that will not only elevate Pawan’s performance but also inspire countless others in the sports community,” added the spokesperson of GNC.
The partnership between Pawan Sehrawat and GNC stems from a mutual acknowledgment of untapped potential and determination in underdog athletes. GNC recognizes the spirit and resilience demonstrated by individuals like Sehrawat, making this collaboration a seamless and formidable alliance. GNC provides substantial support and encouragement for non-mainstream sports, such as that of Pawan Sehrawat.
Pawan Sehrawat, presently leading the Indian Kabaddi team and maintaining a consistent position as the top scorer since 2018, emerges as one of the most influential athletes. He has garnered prestigious accolades, including gold medals at the 2019 South Asian Games, the 2022 Asian Games, and the 2023 Asian Kabaddi Championship.
“As an athlete in an ever-evolving sport, nutrition is a crucial aspect of my progress. Having a globally renowned brand like GNC as my nutrition partner is something I am pleased about. A new season of the Pro Kabaddi League is around the corner, and I am going to need the best in all aspects for a successful season with my team,” said Sehrawat.
GNC expresses excitement about the collaboration with Sehrawat, believing him to be the ideal sportsman synonymous with GNC’s vision. The brand anticipates celebrating the roots and spirit of Indian Kabaddi with equal enthusiasm and support.
EatFit, a health-focused food platform affiliated with Curefoods, and HRX, the groundbreaking fitness brand co-founded by Hrithik Roshan and Exceed Entertainment, have collaboratively unveiled a groundbreaking addition to their offerings: the HRX Cafe.
The cafe is strategically located at Palladium in Lower Parel, Mumbai.
After introducing the HRX Cafe in Mumbai, the HRX brand intends to expand the presence of these cafes to a wider audience.
“I am thrilled to collaboratively introduce HRX by EatFit Cafe in Phoenix Palladium, Mumbai. At HRX Cafe, we aim to nourish both body and soul, bringing together the energy of fitness with the delight of great food. It’s a step towards redefining wellness, and we can’t wait to share this exciting journey with everyone in Mumbai,” said Ankit Nagori, Founder of Curefoods.
The opening of the Mumbai outlet signals the start of an initiative to establish HRX Cafes in multiple locations by the end of the year.
This expansion mirrors the brand’s dedication to cultivating a community of health-conscious individuals seeking nutritious dining experiences at every turn.
“I am thrilled to introduce the HRX Café, an extension of the HRX brand’s philosophy. It’s more than just food; it’s a movement to empower people with choices that align with their fitness aspirations and goals. The HRX Cafe is a testimony to our commitment to supporting everyday athletes in becoming the best version of themselves,” said Afsar Zaidi, CEO at HRX.
The café menu features high-protein breakfast choices, customized salads, nourishing super bowls, and convenient, healthy snacks—catering to both health enthusiasts and regular fitness followers. Emphasizing protein-rich selections, the café strives to inspire and support individuals in maintaining a well-balanced and energetic lifestyle.
The HRX Cafe distinguishes itself through a commitment to incorporating a variety of millets like Quinoa, Millet, and Black Rice into its recipes. This encourages customers to make mindful dietary choices that align with their fitness goals.
Zingavita, a prominent player in India’s retail health sector, has appointed Dheeraj Nagpal as Co-Founder, signaling a strategic move to enhance its product innovation, brand strategy, and marketing initiatives. With an impressive background spanning over 12 years in growth, B2B partnerships, and business strategy, Dheeraj’s appointment marks a noteworthy milestone for the company.
Dheeraj, recognized for his instrumental contributions to the expansion of Zomato Gold in India and his leadership in Partnerships and Alliances at Zomato, brings a wealth of expertise in lending, payments, and Food Tech to Zingavita. His successful track record in executing strategic mandates for Zomato and his prior role as the Lead Finance Officer at American Express highlight his ability to guide Zingavita toward its upcoming phase of growth and innovation.
Sachin Goel, Co-Founder of Zingavita, expressed excitement about the partnership, stating, “Zingavita is thrilled to welcome and partner with Dheeraj in this growth journey. His expertise will enable us to accelerate our innovation cycle and meet our growth milestones to continue delivering on our promise of high-quality, targeted nutrition for the entire family.”
Dheeraj Nagpal shared his enthusiasm, stating, “I am excited with Zingavita embarking on the journey to redefine health and wellness in India. Zingavita’s commitment to quality, innovation, and affordability resonates deeply with my vision for the future of the health supplements industry.”
Zingavita, a frontrunner in the health retail industry, specializes in providing a varied selection of premium, scientifically crafted natural supplements. With a strategic emphasis on the INR 20,000 crore nutraceuticals and herbal supplements market in India, the brand has positioned itself with a portfolio of over 20 SKUs in Kids and Adult nutrition, accessible on leading marketplaces.
The company has revolutionized the Kids’ nutrition segment by presenting traditional chyawanprash in a gummy format, specially crafted to boost children’s immunity. Zingavita’s adult nutrition products are in harmony with its vision of “science-backed nutrition, tailor-made for you,” incorporating distinctive formulations like a combined multivitamin and Omega 3 blend in a single soft-gel, as well as personalized multivitamins tailored for different age and gender categories. Zingavita aspires to strengthen its standing in the health and wellness sector, persistently providing innovative solutions for a healthier and more vibrant life.
Balrampur Chini Mills Ltd (BCML) anticipates maintaining strong growth momentum, driven by heightened crushing activities and improved yield during the ongoing sugar season from October 2023 to September 2024, according to a senior executive. Besides the organic growth it is experiencing, the company is actively investigating potential “acquisition opportunities” in the inorganic sector.
“I don’t want to stall our growth trajectory. We need to evaluate various opportunities to ensure sustained healthy growth given the favourable government policies. We expect our performance is going to be only better in the years to come,” stated Avantika Saraogi, the Promoter and Business Lead (New Initiatives), without disclosing specific targets.
BCML reported a revenue of INR 4,728 crore for the fiscal year 2022-23. The revenue for the first half of the fiscal year 2023-24 (April-September 2023) surged by 33 percent year-on-year, reaching INR 2,929 crore.
Saraogi, a key contributor to BCML’s success, conveyed optimism about the company’s upcoming performance.
The city-based sugar major, which operates ten sugar factories in Uttar Pradesh with an aggregate sugarcane crushing capacity exceeding 80,000 TCD, remains open to acquisitions for inorganic growth while maintaining organic growth in its existing mills.
She mentioned that initial observations from the ongoing crushing season indicate a yield surpassing 10 percent, attributed to favorable weather conditions, technological interventions introduced by BCML for farmers, and enhanced pest management. In the preceding sugar season, the company successfully processed 10.3 crore quintals of sugarcane.
Her optimism stems from the preponement of the E20 (20 per cent ethanol blend in petrol) target to 2025-26, a move that will ensure a balanced sugar market and foster stable returns for the sugar industry.
Nevertheless, Vinod Kumar Yadav, the CGM & Head of Operations at Haidergarh Sugar Mill, warned that the industry may face challenges due to external factors, such as a sudden rise in the state-advised price (SAP) for sugarcane set by the Uttar Pradesh government.
Yadav urged the state government to consider the industry’s viability before contemplating any increase in the cane support price.
According to Trendlyne Forecaster, Balrampur Chini Mills Ltd is anticipated to generate revenue within the range of INR 5,516 crore to INR 5,824 crore in FY24 and between INR 6,100 crore to INR 6,639 crore in FY25.
Although sugar continues to be the primary focus of BCML, there is a 50% increase in ethanol production, reaching 33 crore litres this year. Sugar constitutes 66% of the company’s revenue, while ethanol makes up nearly 33% of the remaining share.
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