BBMP shuts down 21 Bengaluru pubs, bars, and restaurants over fire-safety violations

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October 23, 2023

BBMP inspects eateries and pubs for adherence to fire-safety measures, but hoteliers argue that this is an insufficient solution.

In response to a recent fire incident at a café located on the terrace of a three-story building, officials from the Bruhat Bengaluru Mahanagara Palike (BBMP) were observed conducting inspections of pubs, bars, and restaurants throughout the city on Friday.

Under the guidance of Dr. Balasundar, the BBMP Chief Medical Officer (Public Health), a team of officials conducted inspections at 280 establishments. Of these, 167 were served notices for breaching safety regulations. Additionally, 21 pubs, bars, and restaurants were instructed to cease operations due to their non-compliance with safety norms.

Bengaluru South tops the list with seven establishments closed, followed by Bengaluru East in second place with six closures. Bengaluru West secures the third position with five closures. Additionally, authorities mandated the closure of one establishment each in Bommanahalli, Bengaluru East, and RR Nagar. Notably, Dasarahalli and Yelahanka Zones had no reported violations. The majority of the closed pubs in Bengaluru West were operating from rooftop locations.

“We will continue inspecting the pubs, bars & restaurants and hotels in future. The establishments that have been served notices, must respond on the measures taken to comply with the norms,’’ said BBMP Chief Medical Officer (Public Health) Dr Balasundar.

It is said that during the inspection, the officials found fire extinguishers placed at the wrong locations. The teams also found that most joints had no fire exits. “We have ordered the closure of pubs, bars and restaurants that don’t have fire exits. We will revoke closure orders only after fire exits are facilitated and penalty is paid for violation of the norms all these years,’’ Dr Balsundar said.

He said that he has directed the owners to organise fire safety mock drills for workers and employees. “We found that most of the pubs, bars and restaurants operating from rooftops had not organised any fire safety mock drills for their employees,’’ he said.

Bruhat Bengaluru Hotels Association executive committee member Krishnaraj S P said that closure of these establishments is not a solution. “It is the BBMP that issues trade licences to them. It is their responsibility to verify whether the owners have taken measures to follow fire safety norms,’’ said Krishnaraj.

Bruhat Bengaluru Hotels Association president PC Rao described the fire mishap at Mudpipe Café as unfortunate. “It is the responsibility of owners of pubs, bars and restaurants to take fire safety measures for the welfare of employees. A majority of owners have already put in place fire safety measures by installing fire extinguishers and creating awareness on how to use LPG. We have decided to organise safety programmes, training, make posters, and guidelines for the benefit of hoteliers. Closure is not an answer. We are planning to have a meeting with the BBMP officials shortly,’’ said Rao.

Bootstrapped agritech startup Agriall sets new industry standard with $4M turnover in just 3 months

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October 23, 2023

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Agriall, a self-financed agritech startup, has demonstrated remarkable entrepreneurial acumen by establishing a new industry standard. Within a mere three months, they achieved an impressive turnover of $4 million. This outstanding accomplishment highlights the company’s swift expansion and its dedication to transforming the agricultural sector through technological innovation.

Established by visionary entrepreneurs Avantikka Kapur, Karanjeet Singh, Dr. Aqsa Desai, Pranali Kate, along with Co-Founders Prathamesh Madye and Maaz Desai, Agriall embarked on a mission to deliver innovative, technology-driven solutions to the edible oil industry. What adds to the remarkable nature of this accomplishment is that the company is entirely self-funded, depending solely on the investments and ingenuity of its stakeholders.

Agriall’s triumph can be credited to its pioneering approach to agriculture, harnessing technology to empower stakeholders with data-driven insights, sustainable methodologies, and streamlined supply chain management.

The $4 million in turnover stands as evidence of Agriall’s resolute dedication to tackling the hurdles encountered by the edible oil industry. This achievement not only marks a noteworthy milestone for the company but also serves as a brilliant illustration of what can be accomplished through determination, innovation, and a deep comprehension of the sector.

The team at Agriall is elated by their rapid success and is determined to continue its mission of empowering stakeholders and making agriculture more sustainable and profitable. This remarkable achievement has certainly put Agriall on the map as a pioneer in the agritech industry, and all eyes are now on this bootstrapped startup to see what groundbreaking innovations they will unveil next.

Mamaearth parent Honasa Consumer to launch IPO on Oct 31, targeting INR 10,500 Cr valuation

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October 23, 2023

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Honasa Consumer Limited (HCL), the parent company of the innovative direct-to-consumer beauty and personal care brand Mamaearth, is making strategic preparations for its anticipated initial public offering (IPO) set to take place on October 31, 2023.

On December 28, 2022, the company filed a Draft Red Herring Prospectus with the Securities and Exchange Board of India (SEBI).

As per a report by Moneycontrol, the anchor segment of the IPO is slated to commence on October 30. At present, there are no intentions for a pre-IPO fundraising round.

It’s important to highlight that HCL has set its sights on raising around INR 1,700 Crores through a blend of a fresh issue and an offer-for-sale, with a goal of achieving an estimated valuation of approximately INR 10,500 Crores.

The IPO is being managed by investment banking firms such as Kotak Mahindra Capital, JM Financial, Citi, and JP Morgan, with legal counsel offered by Cyril Amarchand Mangaldas, IndusLaw, and Khaitan & Co. The IPO will comprise a fresh issue of shares amounting to INR 400 Crores and an offer for sale of up to 46,819,635 equity shares, as outlined in the company’s draft prospectus.

The funds generated from the fresh issue will be allocated to intensifying marketing initiatives for increased brand recognition, establishing additional exclusive brand outlets, and extending the network of BBlunt salons.

As outlined in the Draft Red Herring Prospectus (DRHP), shareholders who aim to decrease their stakes consist of the Alaghs, Sofina Ventures SA, Evolvence, Fireside Ventures, Stellaris Venture Partners, Snapdeal founder Kunal Bahl, Bollywood actress Shilpa Shetty Kundra, Rishabh Harsh Mariwala, and Rohit Kumar Bansal. It’s worth noting that Sequoia Capital is not partaking in the offer for sale.

Established in 2016 by the husband-wife team of Varun and Ghazal Alagh, HCL operates a portfolio of brands, including Mamaearth, The Derma Co., Aqualogica, and Ayuga. Additionally, the company has invested in BBlunt and Dr. Sheths.

Mamaearth, among its brands, reached a notable achievement in FY22 by reporting a net profit of INR 19.8 Crores, marking a remarkable turnaround from the INR 1,332.2 Crores net loss in FY21. This transformation can be attributed to heightened customer loyalty rates and the expansion of sales channels, encompassing both online and offline platforms.

Mamaearth is poised to cross the INR 1,000 Crore revenue threshold. In FY22, the company’s total income surged by 101%, reaching INR 952.4 Crores, as opposed to INR 472.1 Crores in the preceding fiscal year. This doubling of revenue from operations, backed by Tiger Global, resulted in INR 931.7 Crores, compared to INR 459.9 Crores in FY21.

HCL attained unicorn status after a funding round in December 2022, where it successfully raised $52 million at a valuation of $1.2 billion. This round was spearheaded by the venture capital firm Peak XV (formerly known as Sequoia Capital).

As of September 2022, HCL’s online distribution network extended to more than 18,000 pin codes across India, making its products available in over 700 districts.

The e-commerce giant also sells products through more than 100,000 FMCG retail outlets in India. In the competitive beauty e-commerce landscape, it contends with Nykaa, Purplle, SUGAR, Wow Skin Science, and others.

Honasa is actively driving the expansion of its flagship brand, Mamaearth, into global markets with a robust growth strategy. The company is setting its sights on pivotal regions, including Bangladesh, Malaysia, Vietnam, and Thailand, where it intends to enhance Mamaearth’s footprint by forming partnerships with local distribution channels.

Honasa has successfully expanded into several international markets, including the UAE, Qatar, Nepal, Malaysia, Maldives, and Mauritius, primarily utilizing the Amazon platform for distribution.

It’s worth highlighting that the IPO activity in 2022 and 2023 has been affected by ongoing market volatility. Furthermore, it’s noteworthy that Honasa is currently entangled in several legal disputes. The Draft Red Herring Prospectus (DRHP) discloses that the company, along with its various subsidiaries, is embroiled in four criminal and civil litigations involving various individuals.

Wagh Bakri Director Parag Desai passes away at 49 after brain hemorrhage

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October 23, 2023

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Parag Desai, the Executive Director of the Wagh Bakri Tea Group, passed away today at the age of 49, as confirmed by the company through their social media announcement. Tragically, he had experienced a brain hemorrhage following a fall last week and succumbed to it in the hospital on Sunday.

“With profound grief, we regret to inform the sad demise of our beloved Parag Desai,” the company said in an Instagram post.

He was hospitalized last week and was receiving treatment for a severe head injury sustained during a fall near his residence. According to reports, the incident occurred when he was confronted by street dogs.

Shaktisinh Gohil, Rajya Sabha MP and Gujarat Congress chief, offered his condolences.

“Very sad news coming in. Parag Desai, Director and owner Wagh Bakri Tea passed away. He had a brain hemorrhage following a fall. May his soul rest in peace. My condolences to the entire Wagh Bakri family across India,” wrote on X.

He was one of the two executive directors serving on the board of Wagh Bakri Tea Group, instrumental in guiding their transition into tea lounges and e-commerce.

He spearheaded the group’s sales, marketing, and export departments, and he was additionally an accomplished tea taster and evaluator.

Founded in 1892 by Narandas Desai, the Wagh Bakri Tea Group has grown to achieve an impressive turnover of INR 2,000 crore today.

The group maintains a significant presence in Gujarat, Rajasthan, Madhya Pradesh, Maharashtra, Delhi, Andhra Pradesh, Telangana, Karnataka, Chhattisgarh, Western Uttar Pradesh, Goa, Punjab, Chandigarh, Himachal, Jammu and Kashmir, Tamil Nadu, and West Bengal. They have also recently expanded their operations into Bihar, Jharkhand, and Odisha.

DLF Malls kicks off the festive season with the first-ever ‘DLF Malls Shopping Festival’

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October 23, 2023

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As the Diwali festive season approaches, DLF Ltd has announced its first-ever shopping festival, set to occur between October 20, 2023, and November 19, 2023, at DLF malls.

DLF mentioned that the festival will provide opportunities for customers to relish a blend of retail experiences, along with food and entertainment offerings.

In a press release issued on Friday, the company stated that customers, while participating in the shopping festival, will have the opportunity to win prizes including an iPhone 15, a Samsung Flip 5, a Mahindra Jawa Yezdi bike, and an OSIM uRegal massage chair.

“We continue our pursuit of taking these experiences to the next level,” Pushpa Bector, senior executive director, DLF Retail said. “Marking this inaugural Shopping Festival as the first of many to come by DLF Malls, we take immense pleasure in setting a new benchmark for an elevated and holistic mall experience.”

DLF Mall of India in Noida, Avenue in Saket, and Promenade in Vasant Kunj, along with various other shopping centers managed by the New Delhi-based real estate conglomerate, are participating in the promotion. Customers who spend INR 30,000 or more at DLF Mall of India in Noida will be eligible for a chance to win a Mahindra Jawa Yezdi bike. Additionally, at DLF CyberHub in Gurugram, customers making purchases of INR 50,000 or above will have the opportunity to win a Skoda Slavia.

Established in 1946 by Chaudhary Raghvendra Singh, DLF currently manages a portfolio of 8 retail properties in the Delhi-NCR region and Chandigarh.

Rural FMCG recovery pauses amid food inflation and uneven rains

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October 23, 2023

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The FMCG industry has witnessed a challenging September quarter amid subdued consumer demand and a decline in rural consumption due to persistent food inflation and uneven rains in some regions. The operating environment remained tough for the FMCG (Fast Moving Consumer Goods) industry as rural demand continues to be sluggish, and some green shoots, which were visible in the preceding June quarter, seem to have paused following adverse conditions.

Leading FMCG makers like HUL, ITC and Nestle have expressed concerns over uneven rains, the impact of crop output and rising prices of some commodities — such as wheat, maida, sugar, potato, coffee, etc — in their September quarter earnings.

“Consumption demand has been relatively subdued, especially in the value segment and rural markets on the back of sub-par monsoons and persistent Food inflation, which saw a sharp spike during the quarter,” ITC said in an earning statement.

Persistent inflation has impacted rural demand, which contributed to over one-third of FMCG sales, as consumers are still tightening discretionary spending after uneven rains, analysts said.

Nestle India also hinted towards an “adverse impact on pricing” due to the rain deficit in several parts of the country.

“Uneven rain and rain deficit is expected to impact production of maize, sugar, oilseeds and spices that may have an adverse impact on pricing,” Nestle India said, adding that “coffee continues to be volatile because of the global supply deficit. The weather during the harvest of the Indian Robusta crop may impact production. Upcoming winter weather may impact wheat production”.

During the quarter, the urban market continued its growth for the FMCG industry, led by modern trade channels and large packs.

E-commerce continues to do well for FMCG makers.

FMCG companies are also facing the heat from the resurgence of the small regional/local players, which are gaining share in the mass market products, such as tea and detergent.

Leading FMCG company HUL reported a market share loss in the mass end segments due to heightened competition from the local players and a decline in the rural market during the quarter.

Most of the small/regional players had vacated the space in the mass and small pack segments when the market was facing inflationary challenges, and the costs of raw materials were at record highs.

With the softening of the input cost after moderation of commodity prices, the number of local players that have come into the market has just increased, said HUL CEO Rohit Jawa in the earnings call.

“We have seen small players participating more in the market, many of them which had left during the market at the peak of inflation,” he said, adding that “small players today in certain categories like detergent bar ad tea are going faster compared to the larger players”.

In the tea segment, small players’ market value has grown 1.4 times that of large players. Similarly, in the detergent vertical, small players’ market value has grown 6 times that of big players, said Jawa.

In the September quarter, the volume of HUL — having brands like Lux, Rin, Pond’s, Dove, and Lifebuoy – in rural areas declined 1 per cent on a two-year CAGR basis, while urban volumes increased by 3 per cent on a two-year basis.

According to Nuvama Institutional Equities Executive Director Abneesh Roy, local players would impact the big companies in some more areas.

“Local players are back in categories, such as detergent bars and tea. We expect local players to also impact in biscuits, edible oils, hair oils,” he said.

According to Roy, urban demand continues to outpace rural.

“Rural demand continues to be challenging. Some green shoots, which started in Q1 FY24, seem to have taken a pause. Election-related stimulus, recovery in September rains, softer retail inflation and weaker base could help in gradual recovery,” he added.

Moreover, shifting of the festive season from the September quarter to the December quarter is likely to have a positive impact on demand in Q3 FY24, Roy added.

Kolkata residents grapple with soaring vegetable prices during Durga Puja

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October 23, 2023

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grocery shopping — (Representative Image)

During Durga Puja, residents of Kolkata are facing the challenge of skyrocketing vegetable prices in the local markets.

Durga Puja organizers are also encountering difficulties as they must manage the community kitchens near their Puja pandals. According to the West Bengal government’s task force responsible for regulating essential commodity prices, the average retail prices of most vegetables in the market were notably elevated as of last Sunday.

Two commonly used vegetables in Bengali cuisine, bitter gourd and parval, are currently priced at INR 80 to INR 100 per kilogram. Even the ubiquitous potato commands a relatively high price, ranging from INR 20 to INR 35 per kilogram, depending on the available variety.

The prices for ladies’ fingers and pointed gourd are ranging between INR 70 and INR 90 a kilogram. “On an average the price for each variety of vegetable is at least INR 10 to INR 15 higher per kilogram than what it was last week. Only the price of tomato has come down, ranging between INR 40 to INR 50 a kilogram,” a member of the task force said.

Equally vexing are the steep costs of cooking essentials, such as ginger (priced at INR 280 to INR 300 per kilogram), garlic (ranging from INR 130 to INR 150 per kilogram), and fresh chilies at INR 150 to INR 200 per kilogram.

According to the task force members, the prices of vegetables are expected to continue their upward trajectory until Laxmi Puja, which falls at the end of this week, after which they may see a slight decrease.

“However, the possibility of high prices being maintained till Diwali and Kali Puja next month cannot be ruled out altogether,” the task force member said.

They explained that extensive flooding in the state, caused by late rains, resulted in significant damage to vegetable fields. This, in turn, prompted a sudden surge in the supply of vegetables in the retail markets, driving prices upward.

The task force member also didn’t dismiss the possibility of certain hoarders playing a role in the sharp rise of vegetable prices.

NRI Chaiwala expands into North India, offering 22 unique tea flavors across new branches

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October 23, 2023

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NRI Chaiwala, celebrated for its steadfast dedication to offering unique and genuine flavors, is excited to declare its expansion into North India. This momentous occasion includes the opening of new branches in Jaipur, Uttar Pradesh, Punjab, and Jammu, signifying a significant venture into India’s dynamic retail scene.

A pioneering feat in India, the company presents an impressive array of 22 distinct tea flavors, each possessing its own unique character. These selections encompass a broad spectrum, including tea varieties such as Tulsi Chai, Regular Chai, Kadak Tea, Rose Tea, Turmeric Tea, Vanilla Tea, Tapri Wali Chai, Tandoori Chai, Ayurvedic Chai, Adrak Elaichi Tea, Cinnamon Thyme Chai, Corporate Wali Chai, Desh Wali Chai, Green Tea, Ginger Lemon Tea, Herbal Chai, Kadha Chai, Lemon Tea, Mardo Wali Chai, Masala Tea, Mulethi Chai, Premium Tea, Regular Tea, Turmeric Ginger Tea, and Mummy Ke Hath Wali Chai. These tea delights are conveniently available in 250 gm packaging, accessible through both physical retail stores and online platforms, ensuring affordability while upholding quality.

As a remarkable addition to their offerings, the newly introduced Kids Chai is specially designed as a wholesome and secure substitute for conventional tea. It has been carefully developed to be entirely devoid of any harmful components or tea leaves, making it perfect for the younger demographic.

Moreover, NRI Chaiwala is launching an innovative concept, the “NRI Tea Health” series, which will soon include Health Wali Chai and Wellness Tea. These unique tea blends are created from a diverse selection of Indian herbs and spices, customized to target particular health issues, such as Diabetes, Digestion, Stress, Anti-Aging, and Women’s Blood Purifier. This forward-thinking initiative underscores the company’s dedication to enhancing health and wellness through the pleasure of tea.

Jagdish Kumar, the visionary Founder of NRI Chaiwala, expressed his vision, stating, “Our dream is to bring an array of tea varieties to our cherished customers, right at their doorstep. NRI Chaiwala aims to elevate the chai-drinking experience, offering a refined selection of teas at our outlets. These diverse options and new flavor profiles promise to introduce fresh and unconventional dimensions to the world of chai, reinforcing our position as pioneers in the tea industry.”

UNIQLO expands in Mumbai: Second store opens at Oberoi Mall in Goregaon with exclusive promotions

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October 23, 2023

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UNIQLO, the renowned global clothing retailer, has recently opened its second store in Mumbai. The new store is conveniently located at Oberoi Mall in Goregaon and spans an expansive 7,500 square feet on the mall’s ground floor. This expansion further reinforces UNIQLO’s dedication to offering the people of Mumbai meticulously crafted, top-quality apparel that embodies the brand’s LifeWear philosophy.

Tomohiko Sei, Chief Executive Officer of UNIQLO India said, “We are thrilled to have been welcomed so enthusiastically by Mumbaikars. With our second store opening at Oberoi Mall, Goregaon, we look forward to offering innovative, high-quality apparel to even more discerning consumers.”

A ribbon-cutting ceremony was held to commemorate the inauguration of this store, attracting a throng of enthusiastic customers, signifying the presence of UNIQLO’s second establishment in Mumbai. Inside the store, shoppers were greeted with exclusive promotions on beloved products such as Fleece Jackets, Ultra Light Down Vests, Flannel Shirts, Smart Ankle Pants, U Crew Neck T-shirts, and more. These enticing discounts will remain available until October 26.

The UNIQLO store at Oberoi Mall in Goregaon marks the 12th physical retail outlet for the brand in India, following its debut in the Indian market in 2019. The inauguration of this new store comes shortly after the launch of UNIQLO’s first Mumbai store at Phoenix Marketcity Kurla, highlighting the brand’s continued expansion efforts in India.

Located in Goregaon along the Western Express Highway, Oberoi Mall is a key component of the expansive Oberoi Garden City, an integrated township comprising residential and commercial complexes, an international school, a 5-star hotel, and extensive landscaped gardens. The UNIQLO store at Oberoi Mall in Goregaon offers a diverse range of essential items, including low-maintenance rayon apparel, AIRism T-shirts, denims, high-quality dress shirts, and stylish ankle pants. Furthermore, the store introduces the complete selection of Fall/Winter products, featuring innovative and practical options such as Ultra Light Down, HEATTECH, and eco-friendly Recycled Fleece garments, as well as items crafted from premium materials like cashmere, lambswool, and merino. Additionally, the store will showcase the exclusive UNIQLO and KAWS collaborative UT Graphic T-shirt collection.

As a special promotion, customers who make purchases amounting to INR 6,000 or higher will be given a personalized Tote Bag showcasing a distinctive UNIQLO x Mumbai design created by illustrator Aashti Miller (subject to availability).

Caffe Nero to upgrade 100 more cafes amidst remarkable 19% sales growth surge

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October 23, 2023

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Caffe Nero has scheduled the refurbishment of an additional 100 cafes before the end of the financial year as part of its major store refurbishment program to upgrade its estate.

The announcement coincides with Caffe Nero’s release of impressive financial results, which reveal a remarkable 19% year-over-year sales increase for the group and a substantial 13.5% growth in the UK during the first quarter of the fiscal year spanning from June 1 to August 31, 2023.

In that same time frame, the company expanded its presence by launching 18 new stores in its 10 diverse regions, with nine of them being in the United Kingdom.

Caffè Nero’s UK division has seen notable growth in its online app, with more than 32% of all store transactions in the UK being conducted through the app. Currently, over two million individuals in the UK are actively using the application.

From June to the end of August, Caffè Nero continued its expansion of delivery sales in the UK, with delivery sales now accounting for almost 3% of its overall sales.

“Results in our First Quarter were very encouraging across the Group and enabled our financial year to get off to a strong start. Despite problematic weather in the UK last summer, our summer iced drinks campaign there was very successful, with our ‘coffee over ice’ range performing particularly strongly at 17.4% like-for-like sales. New drinks in our Frappe Crème range (including the Tropical Fro-Yo) meant the category achieved 5.4% like-for-like sales. We also saw very strong growth in our sliced cake range, which was in 20% growth year on year. Despite continuing inflation, I’m optimistic that we can have a good Second Quarter. I know our new store openings pipeline is very strong,” Caffè Nero Founder and Group CEO, Gerry Ford said.

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