British chef and television personality Gordon Ramsay is set to open his first Gordon Ramsay Steak restaurant in the US state of Louisiana.
Situated at the Horseshoe Lake Charles Hotel, the restaurant will have the ability to host over 200 guests. It will showcase a full bar offering visually appealing cocktails and an extensive wine selection. Starting next month, the restaurant will be open for business.
Reservations can be made by guests using OpenTable.
Ramsay said, “I’m honoured to open a Gordon Ramsay Steak at the brand-new Horseshoe Lake Charles.
“My continued partnership with Caesars Entertainment has provided many exciting opportunities and I’m thrilled to introduce Louisiana to Gordon Ramsay Steak and bring world-class dishes and impeccable service to our guests.”
The upcoming steakhouse will present a diverse menu to patrons, featuring options such as Louisiana Blue Crab Cake, dry-aged prime beef, American and Japanese Wagyu, chops, and crispy skin salmon.
Diners will have the opportunity to savor Ramsay’s iconic Beef Wellington, expertly cooked to medium rare perfection and accompanied by glazed root vegetables, potato purée, and a red wine demi-glace. For a sweet finish, they can indulge in the signature sticky toffee pudding dessert.
Horseshoe Lake Charles senior vice-president and general manager Russell Deaver said, “Gordon Ramsay is one of the most decorated chefs in the world and we couldn’t be happier to welcome his culinary vision to Lake Charles.
“The addition of Gordon Ramsay Steak will only strengthen the amenities our visitors can experience with us here at Horseshoe.”
In May of this year, Gordon Ramsay announced the establishment of two new restaurants at The ROW in Reno, Nevada.
The two dining establishments, Ramsay’s Kitchen and Gordon Ramsay Fish & Chips, are scheduled to open later this year within the Silver Legacy Resort Casino.
Domino’s Pizza Inc, the largest pizza company in the world, has appointed Sam Jackson as its Executive Vice President of Human Resources. Effective November 4, he will report directly to Chief Executive Officer Russell Weiner.
In 2018, Jackson became part of the Domino’s team as the Vice President of Human Resources, where he played a pivotal role in formulating and executing talent strategies for the company. In this capacity, he spearheaded the Human Resource Business Partners’ teams and took charge of the company’s initiatives related to the pandemic and the future of work.
His most recent role was as the Vice President for the Office of the CEO, a position he has maintained since April 2022.
“Sam’s many years of global experience in human resources across organizations and roles, as well as his understanding of our company, our business priorities and strategies, make him uniquely qualified to fill this role,” Weiner said.
Before joining Domino’s, Jackson dedicated nearly 12 years to Target, where he occupied diverse positions encompassing real estate, supply chain, store design, and human resources. This journey also included a significant responsibility of overseeing human resources for Target’s headquarters in India.
Jackson possesses a Bachelor of Arts in international studies from Brigham Young University, in addition to a Juris Doctorate from Hamline School of Law, with a specialization in dispute resolution and employment/labor law.
CaratLane – a Tanishq Partnership has unveiled its second store in the bustling city of Nagpur. As India’s pioneering omnichannel jewelry brand, CaratLane was founded in 2008 by the visionary duo of Mithun Sacheti and Srinivasa Gopalan.
With a strategic investment from Titan Company, CaratLane has entered into a partnership with India’s largest retail jeweller, Tanishq. Known for its signature jewelry-buying experience across all platforms, CaratLane has solidified its presence in the market.
In addition to the website, which stands as India’s foremost online jewelry destination, CaratLane’s network of over 240 stores throughout the country offers a seamless jewelry buying experience.
The newest store was inaugurated by customers and the Hon’ble Minister of Road Transport and Highways of India, Shri Nitin Gadkari. To mark this special occasion, a traditional coal-breaking ceremony was held at the store’s location, signifying the birth of the new store and the prosperous times that await.
Mr. Avnish Anand, Chief Executive Officer at CaratLane, added, “We are delighted to inaugurate our new store in Pratap Nagar, Nagpur and increase our foothold to 58 stores in the West region.”
“With every new store, we are enabling more and more consumers in a catchment to browse and discover jewellery designs they like and try the designs in a store near them using features like Try At Home and Find In Store”, he added.
This location has consistently attracted a strong customer base for the brand, making it the perfect choice for this store. The brand is committed to offering trial opportunities for its products in every area with significant customer interest, and this store will cater to the requirements of one such thriving catchment.
Mr. Atul Sinha, Chief Operation Officer at CaratLane, said, “Seeing the overwhelming response at our first store and the growing interest from customers in the pin codes near Pratap Nagar, we felt the need to expand. As the festive season approached, it seemed like the perfect time to open our new store.”
“Having Shri Nitin Gadkari and our wonderful customers inaugurate this new store together is a true honour. It’s a testament to the amazing support we receive from our community and our excitement to serve them better”, he added.
Customers will have the opportunity to explore and experiment with designs from CaratLane’s renowned collections, including Butterfly, Ombre, Adaa, and the exclusive Harry Potter x CaratLane collaboration. Additionally, they can discover the latest collection, Alpona, which takes inspiration from the enchanting traditional Bengali art style and features eight distinct motifs crafted with a modern aesthetic.
Poshmark, the American social shopping platform, is discontinuing its services in India. Starting from November 2, 2023, Indian users will no longer be able to access their accounts, marking the end of its almost two-year presence in the country.
In addition to India, Poshmark is also discontinuing its operations in the United Kingdom and Australia.
The company explained in its FAQ that it is withdrawing from India to redirect its focus towards its North American operations.
“In order to focus on Poshmark’s North America business and drive meaningful growth in its core markets of the United States and Canada, the company has made the difficult decision to close the Poshmark marketplace in Australia, India, and the UK,” the website read.
The website also conveyed that, starting from November 1, 2023, both buyers and sellers from India, Australia, and the UK will no longer be able to access the marketplace through the app or website. Poshmark, as stated on the website, will continue to handle return requests for orders placed before October 26, 2023.
Poshmark enables its users to engage in transactions involving fashion, home decor, and beauty products. Nevertheless, the startup has experienced a gradual decline in its user numbers. According to data from Sensor Tower, Poshmark’s global presence has dwindled to less than 50,000 users in India, the UK, and Australia.
The development comes after nearly a year of Naver, a South Korean giant, acquiring Poshmark at a reduced valuation of $1.2 billion. Poshmark had once been valued at $7.3 billion.
“I know this is especially hard news for those of you across the globe who have come to know and love Poshmark—please know that I’m incredibly grateful for you and for the community that we’ve built together. We hope to be back at some point in the future,” wrote Manish Chandra, Co-Founder and chief executive of Poshmark, in a blog post.
Poshmark now joins the ranks of major companies exiting the Indian market. Just last year, Singapore’s e-commerce giant, Shopee, ceased its operations in March 2022, a mere five months after its launch. Shopee’s decision to wind down its operations coincided with India’s ban on Free Fire, a game operated by Shopee’s parent company, Sea Ltd.
On Friday, Rahul Gandhi, the former chief and prominent figure of the Congress party, ventured into the world of culinary arts as he attempted to prepare a dosa at a street food stall in Telangana’s Jagtial district. A video shared by the news agency ANI captured the moment when he skillfully ladled the dosa batter onto the pan and expertly spread it with a bowl, demonstrating his proficiency akin to that of a seasoned chef. The shop’s owner was on hand to offer guidance and support to the Congress leader throughout the process.
While on his ‘Vijayabheri Yatra’, Rahul Gandhi made a brief stop at the Nukapally bus stand and engaged in a conversation with a street vendor who was preparing dosas.
#WATCH | Telangana | Congress MP Rahul Gandhi made dosas at a tiffin cart, as he briefly halted at the NAC bus stop while going to Jagtial as part of the Congress Vijayabheri Yatra.
He inquired about the dosa-making technique and even attempted to prepare one, which greatly surprised the local residents. The Member of Parliament also inquired about the dosa vendor’s earnings and the challenges he encountered. Furthermore, the Congress leader engaged in conversations with people passing by and shared chocolates with the children.
Rahul Gandhi continues his campaign in Telangana for the third consecutive day. Following an overnight stay in Karimnagar, he departed for Jagtial on Friday morning. He is scheduled to visit Armoor district as part of the bus yatra before heading back to Delhi.
The elections for the 119-member Telangana Assembly are set to take place on November 30th.
Udaan, the B2B ecommerce giant, which has been grappling with fundraising difficulties for some time now, might finally see a ray of hope.
A Bengaluru-based unicorn is currently engaged in discussions with M&G Prudential, a UK-based savings and investment company, about potentially spearheading an equity funding round, as reported by ET.
The upcoming funding round, expected to range from $100 million to $150 million, is likely to result in a reduction of Udaan’s valuation to under $2 billion, down from its previous peak valuation of $3.2 billion. If the round does indeed conclude with a $2 billion valuation, it would represent a 37% decrease in valuation.
Currently, M&G is in the process of conducting due diligence, and there is a likelihood of new investors joining the startup’s shareholder table in the upcoming days.
Last year, M&G had extended its support to Udaan through the issuance of convertible notes.
In January of last year, Udaan successfully obtained $200 million in debt financing through the issuance of convertible notes to five new investors, including Tor Investment, Arena Investors, and M&G Investments.
The report further mentioned that all of these investors, including M&G Investments, are poised to convert the debt into equity as part of the current ongoing funding round.
The potential funding round coincides with the startup’s significant overhaul of its top leadership and operational structure. In September of this year, the company merged its Essentials business, encompassing FMCG, staples, and pharma categories, with the Discretionary business, which encompasses general merchandise, lifestyle, and electronics categories.
In the process of combining these two divisions, Vivek Gupta, who previously headed the Essentials business, stepped down from his position while retaining an advisory role with Udaan’s board.
During the fiscal year 2023, the B2B ecommerce unicorn witnessed a 43% reduction in its operating revenue, which decreased from INR 9,897.3 Cr in the preceding year to INR 5,609 Cr.
In FY23, the startup implemented a workforce reduction strategy, letting go of approximately 350 employees in a bid to reduce costs. Nonetheless, certain media reports speculate that the total number of layoffs could have reached as high as 1,000.
Established in 2016 by Gupta, Sujeet Kumar, and Amod Malviya, Udaan specializes in facilitating supply chain and logistics operations geared toward B2B commerce. The platform boasts the capability to facilitate daily deliveries spanning more than 1,000 cities and encompassing 12,500 pin codes via udaanExpress.
Up to this point, Udaan has secured $1.8 billion in funding and boasts prominent supporters, including Lightspeed, Microsoft, Tencent, and others. It engages in direct competition with companies like Dealshare.
EatSure is revolutionizing the dining experience during train journeys by introducing a new feature on its app. Customers can now conveniently order food from a variety of restaurants and have it delivered to their seats using their PNR numbers while traveling on the Indian Railway Network.
The food ordering functionality will be accessible at over 100 railway stations spanning more than 75 cities, encompassing major urban centers such as Hyderabad, New Delhi-NCR, Jaipur, Kolkata, Mumbai, Bangalore, Nashik, Vizag, Faridabad, Vijayawada, Mangalore, Kanpur, Lucknow, Ahmedabad, Pune, Chennai, Tirupati, Mysore, and many others.
This unique partnership marks a significant milestone for EatSure, well-known for its innovative foodcourt-on-an-app concept. It positions EatSure as the pioneering foodtech platform to collaborate with IRCTC, aiming to revolutionize the dining experience for train passengers. Through EatSure, travelers will have the convenience of ordering from multiple food brands in a single order, eliminating the need to make difficult choices about their meals while on the go.
“We are truly honoured and humbled to embark on this proud partnership with IRCTC, expanding our reach to serve an even larger number of passengers across 100 railway stations through the EatSure app. Over the past four years, we have diligently worked alongside IRCTC, emerging as a leading partner in the e-catering category. Initially, we were fulfilling orders received from the IRCTC app and website independently,” shared Sagar Kochhar, Co-Founder, Rebel Foods.
With a vast user base of more than 75 million active travelers, IRCTC is poised to provide its passengers with a selection of renowned brands, which will include Behrouz Biryani, Faasos, Oven Story Pizza, Sweet Truth, LunchBox, The Good Bowl, and several others. Utilizing the EatSure app, these travelers can conveniently order their preferred dishes from a variety of brands to match their mood or the occasion during their train journey, with the added convenience of direct delivery to their seats.
Apart from its lineup of brands, EatSure remains dedicated to catering to both individual and group travelers. Furthermore, the company is committed to elevating the passenger experience by introducing special offerings for festivals and celebrations. This includes the provision of unique vegetarian and Satvik thalis during occasions like Shravan and Navratri, the delivery of cakes for birthdays, anniversaries, and other similar events, ensuring a memorable experience for travelers.
Passengers can enjoy the convenience of placing orders in advance or just one hour before their upcoming station using their PNR numbers. This is made possible through a range of features such as real-time order tracking, multi-brand ordering, and customer support. To ensure smooth integration with IRCTC, EatSure riders possess valid passes issued by IRCTC zonal offices, facilitating seamless commercial operations at the stations and enabling timely delivery of orders upon the train’s arrival.
“Our vision is not only to enhance the entire travel experience but also to address the longstanding challenges of food ordering during long-distance train journeys. Currently, while serving passengers on trains via the IRCTC app, we have garnered immense customer appreciation and love across every corner of India. This strong customer support fuels our confidence in the potential of our partnership, and we remain committed to constantly exploring innovative ways to serve our customers with extraordinary experiences” he added.
In 2020, Rebel Foods, the world’s largest internet restaurant company, introduced EatSure with the goal of addressing customer challenges when ordering food. This app has achieved over 10 million downloads and boasts an impressive rating of 4.3+. Offering distinct features like the delivery of multiple restaurant options in a single order, free deliveries, and a variety of dishes, EatSure has revitalized the food ordering experience. The app follows the ‘Foodcourt on an App’ philosophy and is presently catering to customers in more than 80 cities across India.
Starbucks, the renowned American coffee shop chain, is preparing to launch its second establishment in the city of Faridabad. This new store will be located within the recently inaugurated shopping center, The Mall of Faridabad, situated in NIT, Faridabad, Haryana.
A store bearing the Starbucks brand on the ground floor of the mall is presently undergoing fit-out work. Starbucks made its debut in Faridabad earlier this year in March, when it inaugurated a store in another newly established shopping center, Pebble Downtown Mall.
The company is now poised to unveil its most recent store within the recently inaugurated Mall of Faridabad. The Mall of Faridabad welcomed its first visitors on Monday.
Starbucks made its debut in India through a partnership with the Tata Group. The very first Starbucks store in India was inaugurated on October 19, 2012, at the Elphinstone Building, Horniman Circle, Mumbai.
Hindustan Unilever Ltd (HUL), a leading company in the fast-moving consumer goods (FMCG) industry, has announced a 4% increase in its independent net profit, reaching INR 2,717 crore for the quarter concluding in September 2023, compared to INR 2,616 crore in the corresponding quarter of the previous year.
In the reporting period, the company experienced a 4% year-on-year (YoY) increase in its sales, reaching INR 15,027 crore.
The board has announced an interim dividend of INR 18 per equity share for the fiscal year ending in 2024, with the record date for this dividend scheduled for November 2.
The underlying volume growth for the September quarter was 2%, falling short of analysts’ anticipated 3%.
The EBITDA for the quarter reached 3,694 crore, with margins at 24.18%, surpassing the estimated figures of INR 3,609 crore and 23.5%, respectively.
Breaking it down by segments, the home care business saw a 3% increase, driven by mid-single-digit volume growth. Within this sector, fabric wash experienced mid-single-digit volume growth, and the premium portfolio continued to deliver strong results. Household care volumes grew in the high single digits, primarily due to the performance of the dishwasher segment.
In the second quarter, the beauty and personal care business achieved a 4% growth, primarily driven by mid-single-digit volume growth. Skin cleansing, on the other hand, experienced low-single-digit volume growth, with Lux and Hamam brands consistently delivering strong results.
Revenue decreased due to additional price reductions in the soap segment. However, there was double-digit growth in skin care and color cosmetics, attributed to strategic efforts in exploring new demand areas and future channels.
Hair care registered robust high-single digit growth, with Clinic Plus and Indulekha brands maintaining their strong performance.
“We delivered resilient and competitive growth whilst stepping up our EBITDA margin in a challenging operating environment, marked by subdued rural demand and heightened competitive intensity,” said Rohit Jawa, CEO and MD, HUL.
Within the foods and refreshment business, which expanded by 4%, the tea segment experienced moderate growth as consumers continued to opt for lower-priced options. In contrast, the coffee segment saw a double-digit increase.
Looking ahead, HUL expressed a cautious optimism, expecting a gradual recovery in FMCG demand. This positive outlook is bolstered by the approaching festive season, sustained strength in services, and the government’s emphasis on capital expenditure.
“At the same time, we need to be watchful of volatile global commodity prices as well as the impact of monsoon on crop output and reservoir levels,” the FMCG major added.
On Thursday, HUL shares closed flat at INR 2,550 on NSE.
Government on Thursday assured that prices of all major food items and commodities will remain stable during the upcoming festival season.
Food secretary Sanjeev Chopra told mediapersons that government is using all tools to control prices.
He added that various steps have been taken by the government in the past few months to ensure that prices of essential commodities like wheat, rice, edible oils and sugar remain stable.
Chopra said sugar prices are among the cheapest in India in the world at INR 44 per kg, however curbs on sugar exports are to remain in place beyond the deadline of October 31, to ensure its domestic availability and to keep its prices under check.
He added that due to stable sugar prices, around 95 per cent sugar cane dues to farmers have been paid for 2022-23.
Even edible oil prices have been down since the past in year, the food secretary said, except in case of groundnut oil.
In case of rice, Chopra said that 20 per cent export duty on parboiled rice has been extended to march 31, 2024, to ensure price stability and availability in domestic markets.
Custom authorities have been directed to ensure stricter essential checks so that no other varieties can be exported in the guise of parboiled rice, he added.
Only some friendly countries have been allowed export of rice, the secretary informed.
Around 97,000 tonnes of rice has been sold under OMSS, he informed.
Chopra said that though rice inflation is now at 11 per cent since the past few months, however with harvest season setting in, it may come down drastically.
Wheat prices too have been under control, the food secretary said, adding that retail inflation in it has been around 3.6 per cent in the last one year.
Even in wholesale, the inflation in wheat has been around 3.86 per cent.
He added that there is no possibility of wheat prices rising as there is adequate stock available.
Chopra informed that 87 lakh tonnes will be available in wheat stocks till April 2024. Also there is 76 lakh tonnes available in buffer, which can be used.
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