IPO-bound Honasa Consumer Ltd is significantly escalating its initiatives to extend the reach of its flagship brand, Mamaearth, into international markets, setting ambitious goals for substantial growth.
According to ET, Honasa has pinpointed strategic regions where it plans to amplify the expansion of Mamaearth through partnerships with local channels. Bangladesh, Malaysia, Vietnam, and Thailand are highlighted as top-priority markets in this endeavor.
The company has already made its presence felt in various global markets, such as the UAE, Qatar, Nepal, Malaysia, Maldives, and Mauritius, with Amazon playing a pivotal role. Honasa utilizes a wide array of distribution channels, spanning from modern retail establishments and e-commerce platforms to operating dedicated brand websites in specific instances.
This global expansion effort aligns with Honasa Consumer Ltd’s proactive engagement with investors, aimed at securing a pre-IPO funding round within the range of $120 million to $150 million.
In the initial red herring prospectus issued in December last year, Honasa Consumer outlined its strategy to keep India as its main focus market in the medium term. Nevertheless, the company also expressed its strategic readiness to opportunistically expand its presence in markets such as the UAE, Nepal, and Bangladesh, either through organic growth or via strategic acquisitions.
The heightened emphasis on global markets aligns with a notable shift in leadership at Honasa Consumer. Ashish Mishra, the senior vice president for Offline and International Business, has been succeeded by Nishchay Sale Dan, former chief business officer at The Good Glamm Group, now serving as the new senior vice president for Offline Sales.
Established in 2016, Honasa Consumer initially began as a babycare brand and subsequently shifted its primary focus to the core beauty and skincare products sector. The company markets its hair care, skincare, and makeup products under the Mamaearth brand and additionally possesses other brands such as BBlunt, The Derma Co, and Ayuga.
In August, Honasa Consumer Ltd, the corporate entity behind the beauty e-commerce unicorn Mamaearth, obtained approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO).
According to the DRHP, a number of Honasa investors, which include founders Ghazal and Varun Alagh, along with Evolvence, Fireside Ventures, Sofina Ventures SA, Stellaris Venture Partners, Snapdeal founder Kunal Bahl, and Bollywood actress Shilpa Shetty Kundra, are anticipated to reduce their stakes in the IPO.
During the six-month period ending on September 30, 2022, the revenue from offline channels for all brands under Honasa Consumer Limited, the parent company of the direct-to-consumer beauty brand Mamaearth, constituted 35.39% of the total revenue from operations.
The share of revenue from offline channels, as per the DRHP, witnessed a remarkable 27-fold growth during the period, increasing to 28.87% in FY22 from 9.06% in FY20.
British clothing conglomerate Next (Representative Image)
The British clothing conglomerate Next has reached an agreement to acquire FatFace in a transaction that values the fashion chain at £115.2 million ($140 million), expanding its rapidly growing portfolio with another brand.
Next, with approximately 460 stores in the UK and Ireland and an online presence in over 70 countries, has been strategically investing in or purchasing smaller retailers in recent years as part of its expansion into the “Total Platform” business.
This year, it has added the Cath Kidston brand to its portfolio and boosted its ownership in the upscale fashion chain Reiss to 72%.
Last year, Next made significant acquisitions, including the fashion retailer Joules, the furniture brand Made.com, and a minority stake in the baby goods retailer JoJo Maman BeBe.
On Friday, Next announced its intention to compensate the current owners of FatFace, a consortium comprising financial institutions like Alcentra and Lloyds Banking Group, with a combination of cash and newly issued Next shares.
The agreement, anticipated to finalize in the coming weeks, will result in Next owning 97% of FatFace’s equity, while the remaining 3% will be retained by the management team.
FatFace conducts its business through online operations and a network of 180 stores in the UK and Ireland, along with 28 additional locations in the United States and Canada.
In the fiscal year ending in May 2023, the company reported a pre-tax profit of £19.5 million, with sales totaling £282 million, marking a 15% increase compared to the previous year.
Next announced that Will Crumbie, who has been serving as FatFace’s CEO since 2021, will remain at the helm of the business. Furthermore, the company mentioned that this agreement is not expected to significantly affect the group’s profit for the current fiscal year.
Last month, Next raised its profit guidance for the third time in four months, resulting in an 18% year-to-date increase in its shares.
French supermarket chain Casino (Representative Image)
Indebted French supermarket chain Casino, on Monday, disclosed that it had reached an initial agreement to offload its ownership stake in the Latin American retailer Almacenes Exito to Grupo Calleja.
On Friday, Casino’s board granted approval for a preliminary agreement to divest its complete ownership interest in Almacenes Exito to Grupo Calleja, a prominent grocery retailer based in El Salvador, the company stated.
Casino is currently undergoing a restructuring process as a result of years of debt-fueled acquisitions that had pushed it to the brink of default.
On Monday, the company announced that it would receive $400 million from the sale of its Almacenes Exito stake at a price of $0.9053 per share. Additionally, its subsidiary, Grupo Pao de Acucar (GPA), with its own stake, is set to receive $156 million.
Casino stated that the purchaser will make the payment in cash.
In a statement, Casino noted that the per-share price could be subject to reduction due to extraordinary dividend distributions, asset transfers, or similar transactions conducted by Exito.
India is a diverse country, not just in terms of its people and culture, but also in its culinary habits and snacking preferences. Snacking has always been an intrinsic part of Indian culture. We have a snack for any reason, season, and occasion, no matter what time of the day it is. Recognizing this deep-rooted love for snacking, Deepak Grover embarked on a mission in 2019 that would ultimately transform India’s snacking landscape.
Deepak’s vision was clear: he aimed to provide snacks that didn’t just satisfy taste buds but also promoted health, boosted immunity, replaced unhealthy meals, and supported weight management. It was an ambitious goal that gave birth to Snack Amor, a brand that firmly believes in the potent combination of health, taste, and affordability.
The target audience for Snack Amor is as diverse as India itself, catering to health-conscious millennials and discerning adults who prioritize preventive healthcare. In a market saturated with snack options, Snack Amor quickly emerged as a trusted platform for those seeking tasty, healthy, affordable, and natural snacking alternatives.
Over the past few years, Snack Amor’s journey has been nothing short of impressive. The brand has garnered a loyal customer base that continues to grow. However, for Snack Amor, this is merely the beginning of a more significant mission. Leveraging the power of digital technology, the brand is now poised to make its products accessible and affordable to millions across India and beyond.
The very name “Snack Amor” encapsulates its mission – the love of snacks done right. Unhealthy snacking habits have contributed to a surge in lifestyle diseases like diabetes and cardiovascular issues in India. Snack Amor was founded with the determination to confront this pressing concern and lead the way toward a healthier and happier India. Through its dedication to innovative, health-conscious snacks, Snack Amor is redefining snacking in India, one delicious and nutritious bite at a time.
When inquired about the brand, Founder Deepak Grover unveiled during his interview with Snackfax that Snack Amor’s ethos revolves around nurturing self-love, family well-being, and environmental stewardship through the provision of snacks crafted from wholesome, health-conscious ingredients. Firmly committed to upholding standards of quality and nutrition, Snack Amor is unwavering in its resolve to directly address the issue of unhealthy snacking. Here are some notable excerpts from the interview..
SnackFax:Could you provide insights into the competitive landscape and other relevant market dynamics, given the highly competitive nature of the snack category?
Deepak Grover: The organized market is valued at 100,000 crores, while the unorganized sector might be even ten times larger. Therefore, it’s not a market where one player can dominate entirely. Additionally, in the next 2-5 years, we can expect the emergence of new quality brands, which is a positive development, as it signifies a growing market. The more players, the better it is for the industry.
However, I believe consumers have advanced in their understanding of food, particularly when it comes to healthier options. They are seeking highly innovative products that offer both great taste and affordability while also being transparent about their nutritional value.
SnackFax: Can you elaborate on how Snack Amor’s products are not only healthier but also more environmentally sustainable?
Deepak Grover: When we talk about junk food, we’re referring to food that is excessively high in saturated fats, salt, and sugar. The real challenge lies in creating food products that are either devoid of or contain minimal amounts of these unhealthy elements while still delivering a delicious taste. This has been our primary focus as a brand. Additionally, we recognize that Indian consumers have specific preferences, such as the desire for high protein content, the avoidance of refined flour (maida), and the inclusion of essential micronutrients like calcium and iron. We are dedicated to curating products that meet these criteria.
Our products not only surpass the nutritional shortcomings of typical junk food but also excel in sustainability. They are not just free of saturated fats, salt, and sugar but are also enriched with essential micronutrients and protein, all while remaining affordable for our customers.
In the realm of business, profit is undoubtedly a goal, but we also have a higher purpose. Our aim is to be a responsible member of the global community and make a positive impact on the planet. We are a purpose-driven brand, and this sets us apart from others in the industry.
Take millets, for example. Despite their centuries-old presence in India, they have never received the attention they deserve. By promoting the cultivation of millets over crops like corn, we can conserve up to 247 million liters of water annually. Furthermore, millets have a significantly lower carbon footprint compared to corn, contributing to reduced greenhouse gas emissions.
Our purpose extends beyond improving the 4pm snacking culture; it encompasses a commitment to a more planet-centric approach.
SnackFax: In terms of brand scalability, where do you currently stand?
Deepak Grover: While Snack Amor primarily operates as an online e-commerce D2C (Direct-to-Consumer) business, it’s crucial to recognize that true growth and scalability for any FMCG (Fast-Moving Consumer Goods) company in India hinge on successfully navigating the challenges of offline distribution.
Moreover, when it comes to understanding the broader business ecosystem, my industry experience has equipped me with valuable insights. Having a background in this industry enables me to strategically allocate our marketing budget, identifying the most effective areas to invest in. This perspective is particularly significant when viewed from the standpoint of our distributors.
In addition to our online presence, we’ve strategically ventured into specific geographic regions or “belts” to establish a presence in offline markets. We’ve also tapped into the general trade market, where the average trade value can start at 1000 and gradually increase to 2x, 3x, or even 4x. The key strategy here is to identify the most relevant and impactful players in these markets and concentrate our efforts on collaborating with them to drive growth and make a meaningful difference.
Final Thoughts:
Snack Amor’s dedication to making healthier choices accessible extends an open invitation to everyone. As they say, “Do try us out. We would love to hear your feedback!” With its unique combination of taste, health, and affordability, Snack Amor is not just a brand; it’s a movement that’s reshaping the way India snacks, one delicious and nutritious bite at a time.
McDonald’s India (West & South) has introduced a thrilling addition to its Cheesy Burgers selection by unveiling the Cheesy Italian Burgers, available in both vegetarian and chicken variations. These exclusive menu items, complemented by the inventive McCheese burgers, aim to redefine the burger experience, showcasing McDonald’s dedication to menu innovation.
For the very first time, patrons of McDonald’s India will delight in the recently introduced Italian Herb Bun, providing an authentic taste of Italy. Enhanced by a carefully curated Tomato Herb Cheese Sauce, succulent tomatoes, and a Piri-Piri Cheese Slice, these burgers are a delectable blend of cheesiness, juiciness, and satiating satisfaction.
“We are delighted to introduce the Cheesy Italian burgers for our fans with an aim to make their festive season even more special. These new indulgent offerings, apart from our flagship McCheese burgers, combine traditional Italian flavours with the most loved Cheesy burgers platform. We at McDonald’s India continue to push the boundaries of menu innovation delivering the epitome of cheesy indulgence,” said R. P., Chief Marketing Officer, McDonald’s India (W&S).
Aligning with McDonald’s dedication to ‘Real Food, Real Good’, the Italian Cheesy Veg Burger and Italian Cheesy Chicken Burger proudly refrain from using artificial colors and flavors. These fresh offerings also underline the brand’s unwavering commitment to utilizing locally sourced, natural ingredients across its menu.
The fresh Italian Cheesy Veg Burger and Italian Cheesy Chicken Burger can be enjoyed at McDonald’s establishments throughout West and South India. Additionally, they are conveniently accessible for ordering via the McDelivery® app, offering various choices such as home delivery, on-the-go pickup, and drive-thru service.
KAZO Fashion, the renowned fashion label recognized for its versatile creations and outstanding craftsmanship, has introduced its newest retail establishment, situated at 56, Connaught Circle, Block M, Connaught Place, New Delhi.
This carefully planned area covers about 1000 square feet across two levels, ensuring an exceptional shopping venture. Every detail, from the well-placed furniture displays to the meticulously chosen lighting and signage, has been finely calibrated to optimize both form and function. The recent store opening signifies a major achievement for KAZO, now proudly operating a network of over 65 Exclusive Brand Outlet (EBO) stores and more than 120 shop-in-shop experiences throughout the country, with additional retail expansion strategies in the pipeline.
Deepak Aggarwal, Founder and CEO of KAZO said, “The opening of our new retail store in Delhi reflects our unwavering commitment to offering our customers a fusion of sophisticated fashion and an exceptional shopping experience. With a total of 12 strategically located stores across Delhi NCR, we continue to provide trendsetting yet competitively priced fashion apparel. KAZO is poised to redefine fashion accessibility as we embark on an ambitious expansion journey, introducing new stores across India and heralding an exciting new chapter in our brand’s evolution.”
The Connaught Place establishment presents an extensive selection of women’s attire, spanning from glamorous ensembles suitable for festive gatherings to sophisticated, timeless outfits designed for office attire and formal functions. The assortment comprises a versatile array of dresses, tops, shirts, t-shirts, skirts, trousers, jumpsuits, co-ord sets, and a variety of other options. Additionally, customers can peruse a thoughtfully curated range of jewelry, handbags, and belts, intended to enhance their personal style.
With the recent selection of Bollywood star Janhvi Kapoor as the Brand Ambassador, KAZO envisions an exciting future for the upcoming season. The brand aims to take the helm in India’s fashion landscape and establish a substantial market presence in women’s clothing. In the forthcoming years, KAZO has outlined ambitious plans for growth, encompassing both online and offline domains, with expansion on digital platforms and in brick-and-mortar stores. This strategic move underscores the brand’s dedication to delivering chic and attainable fashion to a wider audience nationwide.
Chukde Spice, a prominent Indian spice manufacturer, has appointed Karisma Kapoor as its brand ambassador for an exclusive two-year partnership. Karisma Kapoor will represent the brand solely from August 2023 to August 2025.
Chukde Spices has been dedicated to upholding quality, authenticity, and food safety standards since its inception in 2006. The collaboration with Karisma Kapoor is set to enhance Chukde’s nationwide brand awareness efforts.
Over the course of almost two decades, Chukde has evolved into a well-recognized household brand, renowned for its diverse range of whole spices, blended spices, and superfood products.
“When everybody keeps talking about the quality of the product, we felt that we needed to give a commitment to our customers and not just talk about quality. We came out with the campaign Saaf Nahin to Paisa Nahi. Everyone kept telling us that it’s a suicidal campaign since people can make false claims for money but we felt we needed to put our neck on the line and in case we can’t deliver the proposition than we don’t deserve the money from our customers. We are the custodian of money that we charge from our customers and we deserve the money only if we deliver on our promises. We are the only brand with such a campaign in the spices category. We did fairly well in conveying our message to our customers which made us their favorite brand over the years,” Rajat Luthra, Director, Chukde, said.
Speaking about the association, Karisma Kapoor said, “Chukde Spices are an integral part of Indian cooking and have been serving us authentic Indian spices. I am very glad to be part of this exciting brand story.”
Chukde Spices, a brand under the umbrella of Lifestyle Foods, has earned the National Award for Outstanding Entrepreneurship in both 2015 and 2020. In addition to catering to domestic markets, the brand also exports its products to 29 countries worldwide.
Lucknow-based cafe, The Hazelnut Factory, recently made an exciting announcement. In a press release issued on Monday, the company revealed the grand opening of its first outlet in Delhi, situated on Punjabi Bagh Club Road. Covering an impressive 2,500 square feet, this marks the eighth establishment in their chain across India.
Speaking on the announcement, Ankit Sahni, Founder, The Hazelnut Factory said, “ Whether it’s the on-the-go professionals seeking a quick but delicious meal or families looking for a memorable dining experience, The Hazelnut Factory seamlessly fits into Delhi’s diverse dining culture.”
The brand presents an array of culinary delights, ranging from artisanal sweets, cookies, and namkeens to specialty coffee and more.
Since its inception in 2019, The Hazelnut Factory has been actively exploring opportunities for expansion within the vast Delhi-NCR region. The brand adheres to global manufacturing standards and employs cutting-edge production equipment and techniques.
Celcius Logistics, India’s rapidly expanding cold chain marketplace startup, is delighted to announce the appointment of Mr. Tarun Goyal as the Business Head. With 26 years of profound experience in the logistics industry, Mr. Goyal’s appointment marks a significant step in Celcius’s journey towards revolutionizing India’s cold chain logistics sector.
India’s traditional cold chain infrastructure grapples with inefficiencies, resulting in staggering food losses totaling approximately $14 billion and causing as much as 29% of vaccines to lose their efficacy due to damages and temperature fluctuations during transportation. Celcius has developed a comprehensive platform from scratch, employing proprietary technological solutions tailored explicitly for the cold supply chain. This platform addresses the challenges faced by all stakeholders, ranging from manufacturers and small-scale transporters to end consumers.
As the exclusive aggregator platform in India, Celcius Logistics provides cutting-edge proprietary technology and operational solutions for reefer logistics and cold storage warehousing. It is revolutionizing the fragmented sector, working to establish a truly seamless cold chain network nationwide. Celcius Logistics boasts an impressive fleet of over 4,500 vehicles, operates 107 cold storage facilities, manages seven distribution centers, and is supported by a team of over 100 hyperlocal riders. In April 2023, the company successfully secured INR 100 crore in funding, positioning Celcius Logistics as the first startup in the cold supply chain sector to achieve rapid growth and carve out a distinctive niche in the cold chain industry.
In the coming years, Celcius Logistics has ambitious plans to roll out all-encompassing cold storage warehousing solutions, extend its reach to over 500 cities nationwide, and substantially augment its workforce. These endeavors are in perfect harmony with Celcius’s fundamental vision, which is to create a seamless and uninterrupted cold supply chain network by leveraging state-of-the-art technology to enhance efficiency and cost-effectiveness across diverse sectors.
The inclusion of Mr. Tarun Goyal on the Celcius team is poised to advance the company’s overarching vision. With a career spanning more than 26 years in the logistics industry, he has held pivotal roles in some of India’s top logistics firms. His illustrious career encompasses significant positions at renowned companies, including Gati, Safexpress, Radhakrishna Foodland, Transocean, V-Trans India Ltd, DP World, and Delhivery.
Speaking about the new addition to the team, Mr Swarup Bose, Founder and CEO of Celcius Logistics, said, “Mr Tarun Goyal has been a versatile Industry stalwart and has successfully managed express cargo, hard freight and cold chain logistics, making him an experienced business leader with deep domain insights in the world of logistics. We are delighted to welcome him to the Celcius family. His appointment strengthens the company’s position as a leader in the cold chain logistics industry and reinforces its commitment to transforming the logistics landscape in India. I am confident that his extensive experience, strong leadership, and business development acumen will play a pivotal role in furthering our vision of excellence in the cold chain logistics industry.”
Commenting on his new role at Celcius Logistics, Mr Tarun Goyal expressed, “I am excited to join Celcius Logistics, a company that has been redefining the cold chain logistics industry. It’s an honour to be part of a team that is setting new service benchmarks and supporting cold chain vendors in achieving their full potential. I am thrilled to be part of Celcius and look forward to working closely with Mr Swarup Bose and the entire team to take the company to new heights.”
Mr. Goyal boasts a strong educational foundation, having completed his primary education at St. Xavier’s Institute in Mumbai, followed by his undergraduate and postgraduate degrees in marketing from Dehradun. Furthermore, he is a certified ISO Auditor and has participated in workshops such as “Train The Trainer” and NLP.
The company’s progressive expansion strategy involves the implementation of advanced Warehouse Management Systems (WMS) and the enhancement of its existing Transportation Management Systems (TMS). Having achieved a remarkable growth of 20 times in the past year, Celcius has garnered an esteemed clientele, including Zepto, Zomato, Maersk, Prabhat Dairy, Baskin Robbins, Vadilal, Domino’s, Keventers, Godrej Agrovet, and Zydus Pharma. Celcius has successfully transported more than 125,000 tons of perishable goods across various sectors like dairy, fresh agricultural produce, pharmaceuticals, fruits, seafood, and vaccines, spanning over 350 cities in India.
The advent of the festive season has brought joy to cardamom farmers in Kerala’s Idukki district, with the price of the “queen of spices” surging by 20% month-on-month in October to reach INR 1,900 per kilogram at the farm gate level.
A year ago, cardamom was trading at around INR 1,100 per kilogram. This year, there has been a noticeable surge in prices, mainly due to a 30% reduction in cardamom production, with the total yield plummeting to 23,000 tonnes. This decline can be attributed to the scarce rainfall experienced during the crucial growing periods of June and August.
“The drop in production has been compensated by the high prices. But what is worrying us is the illegal influx of cardamom from Guatemala,” said Prabhakar SB, a cardamom grower in Idukki, whose family has been in this business for nearly 80 years.
Significantly, 95% of the country’s cardamom is produced in Idukki district.
Rainfall in the district has been deficient by 60% thus far. Cardamom harvesting typically commences towards the latter part of July. Although there was some rainfall towards the end of September, growers believe it is insufficient to rectify the damage incurred.
“Last year, cardamom farmers got a price of INR 1,000 per kg, even though the cost of production was INR 1,200 per kg,” said PC Punnoose, chief executive officer of Kerala Cardamom Processing & Marketing Company. “In September, the prices of cardamom went up by INR 1,500-1,600 per kg. In October, prices have further shot up to INR 1,900 per kg as the festive season demand for cardamom has picked up.”
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.
