Future-Proofing Your Brand: Key Technologies to Drive Sustainable Growth

Business

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October 19, 2023

When it comes to future proofing your brand, it is not just taking a step ahead from everyone else, it becomes something way more!

It is about embracing the cutting edge technologies that will pave way for sustainable developments and growth and that’s why we brought to you, some of these key technologies that are shaping the future of business and how they can be harnessed to ensure your brand remains relevant, resilient, and innovative.

Artificial Intelligence (AI) and Machine Learning:

Artificial intelligence and machine learning have revolutionized the way businesses operate. Whether it’s predictive analytics, chatbots, or personalized marketing, AI and machine learning can help your brand deliver better customer experiences. By analyzing vast amounts of data, these technologies can provide insights into customer behavior and market trends, enabling you to make data-driven decisions.

Blockchain Technology:

Blockchain is not just for cryptocurrencies; it’s transforming supply chain management, data security, and even voting systems. This technology ensures transparent and tamper-proof record-keeping, which is vital for trust-building in today’s digital world. By implementing blockchain, your brand can gain a competitive edge by offering enhanced security and transparency to your customers.

IoT (Internet of Things):

IoT is connecting everyday devices to the internet, creating a wealth of data. This technology can be utilized to improve operational efficiency, enhance customer experiences, and even create new revenue streams. For instance, smart home devices, wearable technology, and connected vehicles are all part of the IoT revolution. By integrating IoT into your products or services, you can create new and innovative customer interactions.

5G Connectivity:

The rollout of 5G networks is set to revolutionize connectivity, making data transfer faster and more reliable. This technology is a game-changer for businesses that rely on real-time data processing, such as augmented reality, virtual reality, and telemedicine. Ensuring your brand is 5G-ready can give you a competitive advantage in delivering high-speed, low-latency experiences to your customers.

Robotic Process Automation (RPA):

RPA is transforming industries by automating repetitive tasks and processes. This technology can significantly reduce operational costs, increase efficiency, and minimize errors. By integrating RPA into your business processes, you can free up human resources to focus on more strategic tasks, thereby enhancing productivity and agility.

Renewable Energy and Sustainability Technologies:

Sustainability is no longer just a buzzword; it’s a necessity. Adopting renewable energy sources and eco-friendly practices is essential for future-proofing your brand. By utilizing solar power, wind energy, and sustainable materials, you not only reduce your carbon footprint but also appeal to the growing number of environmentally conscious consumers.

Data Security and Privacy Solutions:

With the increasing concern over data breaches and privacy violations, investing in robust data security and privacy solutions is vital. Brands that prioritize data protection and privacy build trust with their customers. Implementing advanced encryption, multi-factor authentication, and compliance with data protection regulations are crucial steps in securing your brand’s future.

Augmented Reality (AR) and Virtual Reality (VR):

AR and VR technologies are becoming integral to marketing, training, and customer engagement. These immersive technologies can provide unique experiences that set your brand apart from competitors. Whether it’s virtual product demos, AR shopping apps, or VR training modules, these technologies can foster customer engagement and loyalty.

Hybrid and Remote Work Solutions:

The COVID-19 pandemic accelerated the adoption of remote work, and this trend is likely to continue. Embracing hybrid work solutions and investing in collaboration tools ensures your brand remains adaptable and capable of managing a distributed workforce effectively.

Future-proofing your brand is a journey that requires a commitment to technological advancement and innovation. By leveraging these key technologies, your brand can position itself for sustainable growth, adapt to changing market conditions, and meet the evolving demands of customers. Staying ahead of the curve is no longer an option but a necessity in the ever-changing business landscape. Embrace these technologies, and watch your brand thrive in the digital era.

Avanços Coffee: Brewing a New Dawn in India’s Coffee Culture, One Sip at a Time

Startups

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SnackTeam

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October 18, 2023

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In a nation predominantly known for its love affair with tea, Avanços Coffee is embarking on a mission to awaken India’s senses to the rich and diverse world of roasted coffee. Founded by Vinod Kumar Meena and Parul Chawla, this dynamic duo is on a quest to create unparalleled coffee experiences that resonate with coffee lovers across the country.

Vinod Kumar Meena brings over a decade of experience from various sectors, including technology, capital markets, and hospitality. With an impressive educational background, having graduated from the prestigious India School of Business, Hyderabad, and IIT Bombay, Vinod’s journey to coffee entrepreneurship is marked by a desire to create long-term value in the coffee industry.

Parul Chawla, on the other hand, hails from a design background and is an alumna of the National Institute Of Fashion Technology, Kangra. Her extensive experience in the apparel industry and aesthetic sensibilities have played a pivotal role in shaping the identity of Avanços Coffee.

***Vinod Kumar Meena and Parul Chawla***

Together, Vinod and Parul’s diverse skill sets and shared passion for coffee have given birth to Avanços Coffee—a brand that’s a manifestation of over 15 years of their love affair with coffee and a dream to create extraordinary experiences through this beloved beverage.

The Inspiration Behind Avanços Coffee:

Avanços Coffee’s founders believe that life is finite, but the opportunities to learn, grow, and evolve are infinite. With this philosophy in mind, they chose coffee as their canvas to paint unique experiences in people’s lives. Coffee, to them, represents boundless possibilities to create moments of delight and self-discovery.

Bridging the Coffee Gap in India:

One of the primary problems Avanços Coffee aims to solve is the lack of awareness about roasted coffee in India, a country that predominantly favors tea. Despite India’s high-quality coffee beans, a significant portion is exported. Avanços is narrowing this gap by offering self-brewing experiences for coffee enthusiasts at home and introducing innovative cafe concepts in the near future.

The coffee market in India is on the rise, with a projected 10-12% compound annual growth rate (CAGR). Despite having just 4.5% of the roasted coffee consumption of the United States, India’s growing population and changing consumption habits offer immense potential for coffee as an alternative to tea.

What sets Avanços Coffee apart is its commitment to creating diverse coffee blends that cater to various palates. While currently operating as a standard direct-to-consumer (D2C) e-commerce model, the brand is gearing up to provide unique coffee experiences through its cafe ventures.

The mission of Avanços Coffee is to make roasted coffee an integral part of daily life for the majority of India’s population. They aspire to become one of the most trusted coffee brands in India and, eventually, at a global level through a relentless commitment to quality and service.

Avanços Coffee envisions coffee as a catalyst for self-improvement and personal growth. They aim to create a community of individuals who believe in evolving every day, one cup of coffee at a time.

Evolution, Challenges and Breaking Dogma:

Launched during the post-pandemic era, Avanços Coffee coincided with the rise of remote work and a heightened interest in home brewing. With innovative equipment that rivals cafe-quality coffee at a fraction of the cost, the brand is seizing the opportunity presented by this shift in consumer behavior.

Avanços Coffee has focused on brand building through the quality of its products, especially in terms of freshness and taste, along with excellent customer service. While the overall sales may be modest compared to industry giants, their high percentage of returning customers is a testament to their success.

The company is now poised to expand into a cafe model, driven by the belief that experience-driven coffee consumption is the future of the industry in India. However, the journey has not been without its challenges, the most prominent being the need to break the dogma surrounding coffee in a tea-centric nation.

Entrepreneurship Rooted in Learning:

Drawing from their diverse careers, Vinod and Parul have observed what works and what doesn’t for long-term success. Their entrepreneurial approach is deeply rooted in continuous learning and problem-solving. They are determined to make Avanços Coffee fundamentally strong, ensuring that every decision and action leads to unique experiential moments for their consumers.

Avanços Coffee is not just about coffee; it’s about crafting a journey of discovery and transformation, one sip at a time. As they continue to brew their dreams into reality, the brand promises to be a beacon of innovation and excellence in India’s burgeoning coffee culture.

Zomato stock reaches 52-week high after IRCTC partnership announcement

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October 18, 2023

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Foodtech giant Zomato’s stock price reached a 52-week high of INR 115 on the morning of October 18, driven by its strategic partnership with the Indian Railway Catering & Tourism Corp (IRCTC).

Zomato’s shares wrapped up Tuesday’s trading session at INR 113.90 and kicked off Wednesday’s trading at INR 114.25. However, by 12:20 pm, the shares had dipped to INR 111.45.

In a noteworthy development, Zomato has forged an agreement with the Indian Railway Catering and Tourism Corporation (IRCTC) to offer pre-ordered meal provisioning and delivery as part of an experimental initiative.

In the initial stage, the project will commence with a pilot program aimed at showcasing its viability. It will provide railway passengers with the opportunity to reserve meals via the IRCTC e-catering platform. At the outset, this service will be accessible at five prominent train stations: New Delhi, Prayagraj, Kanpur, Lucknow, and Varanasi.

“… IRCTC has tied up with M/s. Zomato Limited for supply and delivery of preordered meals through IRCTC’s E-catering portal as a Proof of Concept (PoC) in the first phase at five Railway stations i.e. New Delhi, Prayagraj, Kanpur, Lucknow and Varanasi,” said IRCTC in a regulatory filing with the BSE.

In Tuesday’s intraday trading on the Bombay Stock Exchange (BSE), following the announcement from IRCTC, Zomato achieved a fresh 52-week peak of INR 114.10.

In the first quarter of the fiscal year 2024 (Q1 FY24), Zomato achieved its first-ever profitable quarter, recording a profit after tax (PAT) of INR 2 Crore. This marks a significant turnaround from the net loss of INR 186 Crore reported in Q1 FY23. Concurrently, the company’s revenues from operations surged to INR 2,416 Crore in the quarter ending June 2023, a notable increase compared to INR 1,413.9 Crore in Q1 FY23.

During the second quarter (Q2), Zomato faces the challenge of maintaining profitability, with macroeconomic factors continuing to influence the demand for online food delivery, according to a recent report by JM Financial.

“We expect Zomato’s sequential food delivery GOV (gross order value) growth in Sep- Q to be closer to mid-single digit (mid-teens growth on a YoY basis, broadly in-line 1Q). Blinkit, on the other hand, could report very strong high-teens sequential GOV growth led by a robust increase in order volume,” the brokerage said.

Sunshine Mills boosts production capacity with acquisition of Red Collar facility

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October 18, 2023

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Sunshine Mills, a pet food and treat producer headquartered in Alabama, is expanding its manufacturing capacity through the acquisition of Red Collar Pet Foods’ production facility located in Joplin, Missouri.

The sale price of the plant has not been disclosed by either company.

The acquisition of the facility will grant Sunshine Mills additional production capabilities for making both baked and cold-formed pet treats.

Situated in a central US location, the Joplin site also facilitates more streamlined nationwide distribution of Sunshine Mills’ products, according to the company. The facility boasts over 200,000 square feet of production and warehouse space.

Approximately 130 employees are currently employed at the facility, possessing expertise in the production of baked biscuits and cold-formed treats for both dogs and cats.

Sunshine Mills is set to assume control of operations at the Joplin site immediately.

Greg Wolking, president and CEO at Red Collar Pet Foods said, “We are thrilled to see the knowledgeable and engaged team of associates at Joplin join the like-minded family at Sunshine Mills”.

“We now look forward to crossing paths with them as our industry colleagues while Red Collar continues to serve customers and key retailers.”

Red Collar Pet Foods, a manufacturer specializing in private-label pet food and treats, is headquartered in Franklin, Tennessee. In 2018, the company was acquired by the private equity group Abor Investments from Mars Petcare.

The Joplin facility is among several Red Collar plants that have been purchased in recent years. Earlier this year, Nestlé acquired the company’s factory in Miami, Oklahoma.

In August of 2022, Hill’s Pet Nutrition, a subsidiary of Colgate-Palmolive, acquired three Red Collar plants for a total of $700 million.

Tyson Foods ventures into insect-protein business with investment in Protix

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October 18, 2023

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Tyson Foods has made a strategic investment in Protix, a company specializing in insect-based protein, and is gearing up to establish a collaborative U.S. production facility, primarily focused on catering to the pet food market.

The American-based meat industry leader refrained from revealing the exact percentage of the minority stake it acquired in Protix, a Netherlands-based company that specializes in insect-derived ingredients. Protix provides these ingredients not only for pet food but also for use in animal and fish feed applications.

Tyson Foods and Protix have formed a collaborative endeavor to set up and manage a facility producing insect-based ingredients. The location of this facility will be in the “continental United States,” as stated by the owner of the Jimmy Dean and Hillshire Farm brands in an official statement.

The financial terms were not revealed.

Tyson Foods said, “The strategic investment will support the growth of the emerging insect-ingredient industry and expand the use of insect-ingredient solutions to create more efficient sustainable proteins and lipids for use in the global food system.”

Situated in Dongen, a town in the southern region of the Netherlands, Protix established its local operation in 2019. Using the liquid-to-liquid extraction (LLE) method, they process 14,000 metric tons annually. The company serves worldwide enterprises engaged in pet food, aquaculture feed, livestock feed, and organic fertilizer production.

John Tyson, Tyson Foods’ CFO, said, “Our partnership with Protix represents the latest strategic investment by Tyson Foods in ground-breaking solutions that drive added value to Tyson Foods’ business.

“The insect lifecycle provides the opportunity for full circularity within our value chain, strengthening our commitment to building a more sustainable food system for the future.”

Tyson Foods stated that its investment will contribute to funding Protix’s worldwide expansion and the growth of insect-based ingredient production.

The human meat major added with respect to the planned factory, “Upon completion, it will be the first at-scale facility of its kind to upcycle food manufacturing by-products into high-quality insect proteins and lipids, which will primarily be used in the pet food, aquaculture and livestock industries.”

The focus will encompass all stages of production, ranging from breeding and incubation to the hatching of insect larvae.

Kees Aarts, the CEO of Protix, added, “We are very excited to announce the next step in our international growth strategy. Tyson Foods’ and Protix’s strategic partnership advances our joint work towards creating high-quality, more sustainable protein using innovative technology and solutions.

“This agreement is a major milestone for Protix and significantly accelerates our ambition to grow through international partnerships.”

India’s wheat prices soar to 8-month peak amid tight supply and high demand

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October 18, 2023

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On Tuesday, Indian wheat prices reached an eight-month peak, driven by robust demand during significant festivals, restricted availability, and import duties rendering foreign purchases impractical for domestic flour mills.

The escalating prices might lead the government to release additional stocks from its inventories and waive import duties on wheat to strengthen the supply and manage prices in anticipation of crucial state assembly elections and a general election next year. The surge in wheat prices has the potential to contribute to food inflation.

On Tuesday, wheat prices in New Delhi experienced a 1.6% increase, reaching 27,390 rupees ($329) per metric ton—marking the highest level since February 10. Over the last six months, prices have witnessed a substantial surge of almost 22%.

“Festival season demand is driving up wheat prices. The government needs to permit duty-free imports to reduce prices,” said Pramod Kumar S, president of the Roller Flour Millers’ Federation.

Last month, Sanjeev Chopra, the highest-ranking civil servant at the food ministry, stated that India does not currently have any intentions to eliminate the 40% import tax on wheat.

On October 1, the wheat reserves in government storage facilities amounted to 24 million metric tons, significantly lower when compared to the five-year average of 37.6 million tons.

Ashwini Bansod, who leads commodities research at Phillip Capital India Pvt Ltd, explained that the increase in domestic wheat prices is due to the absence of imports and government procurement falling short of the intended targets.

In 2023, India succeeded in acquiring 26.2 million tons of wheat from farmers, falling short of the intended goal of 34.15 million tons.

The market is also taking into consideration worries about the El Nino weather pattern, which could result in above-average winter temperatures and potentially adversely affect the upcoming wheat crop, as noted by Bansod.

While the government projected a record-high wheat output of 112.74 million metric tons in 2023, a prominent trade association contended that the actual harvest was at least 10% lower than the farm ministry’s assessment.

“The supply situation is poised to tighten further in the coming months, and there’s a real risk of prices surging beyond 30,000 rupees unless the government opens the door to imports,” said a Mumbai-based dealer with a global trade house.

Karnataka Bank set to recover half its dues from debt sale of Coffee Day Global

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October 18, 2023

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According to informed sources, Karnataka Bank is poised to recoup over 50% of its outstanding dues by the end of this month through the debt sale of Coffee Day Global, an unlisted company that runs the Cafe Coffee Day chain throughout India.

A binding offer has been presented to the bank by Rare Asset Reconstruction Company (ARC), prompting a Swiss challenge auction. The ARC’s offer stands at approximately INR 50-INR 55 crore in response to the outstanding dues of INR 88 crore, as reported by one of the sources mentioned earlier.

In the past, Rare Asset Reconstruction Company (ARC) had acquired Coffee Day Global debt from both RBL Bank and Aditya Birla Capital.

Coffee Day Global, a subsidiary of the publicly traded Coffee Day Enterprises, was founded by the late VG Siddhartha, who tragically took his own life in 2019.

As per its FY23 annual report, the company’s debt stands at INR 982 crore, compared to INR 960 crore in the previous year. This INR 982-crore debt encompasses inter-corporate loans amounting to INR 146 crore from Tanglin Developments, as indicated in the report.

Both the lender and Rare ARC declined to provide any comments.

Karnataka Bank has requested expressions of interest to be submitted by October 26, with the data room accessible for a single day on the same date, as outlined in the auction notice. The e-auction is set to take place on October 27.

In mid-August, Rare ARC acquired Coffee Day Global loans totaling INR 110 crore, making an initial cash payment of INR 68 crore. In September, IndusInd Bank sold its loans to Coffee Day Global to ASREC (India), another ARC. Coffee Day Global had previously been admitted for insolvency by the National Company Law Tribunal based on a petition from IndusInd Bank. Following the sale, IndusInd Bank expressed its intention to withdraw its petition before the appellate tribunal.

According to the most recent annual report for FY23, Coffee Day Global, a privately held company, operates 469 Cafe Coffee Day outlets in 154 cities and 268 CCD Value Express kiosks. The company has also deployed 48,788 coffee vending machines in corporate workplaces and hotels, as indicated in the same report.

The sale notice, which called for Expressions of Interest (EoI), specified the principal loan amount as INR 87.8 crore. However, it did not provide details regarding the reserve price or the permissible mark-up for potential counter bids by an ARC. The RBI’s guidelines from September 24, 2021, regarding loan transfers mandated that banks disclose both the base price and the anticipated mark-up in Swiss auctions.

Hotel industry set for remarkable growth: JM Financial forecasts robust FY24, steady progress in FY25

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October 18, 2023

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According to a report by JM Financial Institutional Securities, the latter part of FY24 is anticipated to mark one of the most robust periods for hotel companies in the past decade. This positive outlook is attributed to significant events such as the Cricket World Cup, the grand finale of Miss World 2023, and a thriving wedding season.

Looking ahead, JM Financial Institutional Securities continues to maintain the belief that both occupancies and Average Room Rates (ARR) have potential for further growth. It is important to note that this growth may not follow a consistently upward and linear trajectory. Various factors could introduce short-term disruptions to an otherwise positive trend. These factors include a high FY24E baseline, the General Elections scheduled for May 2024, the potential risk of the Indian Premier League (IPL) relocating, and an unfavorable mix due to a higher proportion of corporate travel. Despite these challenges, JM Financial Institutional Securities anticipates getting closer to pre-COVID levels.

In the latter half of FY25E, as the previously underperforming demand segments, such as corporate travel and inbound tourism, take the spotlight, there is an expectation that occupancies will gradually rise to a range of 70-72 percent. This, in turn, is projected to result in low double-digit growth in Average Room Rates (ARR) during this period, with adjustments made for the exceptionally high rates seen during the ODI matches in their respective venues, as mentioned in the report.

Within their coverage universe, they anticipate a more moderate growth rate of 6-8 percent for Average Room Rates (ARRs) in FY25E, as compared to the 10 percent growth seen in FY24E. Simultaneously, they assume an expansion in EBITDA margins by 100-150 basis points, driven by favorable operating leverage.

During the third and fourth quarters of FY24, the domestic hotel industry is poised to achieve its highest numbers in a decade, driven by robust domestic tourist demand and significant global events. It is anticipated that Average Room Rates (ARR) will experience a year-on-year growth of 15-20 percent in FY24E. However, the report suggests that the elevated baseline established in FY24E is likely to lead to a slowdown in growth in FY25E.

Moreover, during the first quarter of FY20, coinciding with the previous general elections, there was a 0.4 percent year-on-year decrease in both occupancy and Revenue per Available Room (RevPAR), with a decline of 2.9 percent, respectively.

A comparable scenario is expected to unfold at the beginning of FY25E, leading to a temporary disruption in growth. The return of corporate sector demand, particularly rates negotiated through RFPs (Request for Proposals), is anticipated to exert downward pressure on room rates, as outlined in the report.

Shareholders green-light Campbell’s £2.7 Billion acquisition of Sovos Brands

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October 18, 2023

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Sovos Brands’ stockholders have granted their consent for the £2.7 billion acquisition of the company by Campbell Soup.

Sovos’ shareholders have overwhelmingly supported Campbell’s acquisition of Sovos Brands’ outstanding shares at a price of $23.00 per share in cash. An impressive 92.38% of the total outstanding shares participated in the vote, and an overwhelming 99.99% of those votes were in favor of the proposal.

Sovos Brands’ lineup comprises well-known brands, including Rao’s, Michael Angelo’s, and Noosa. These brands are known for producing a variety of products, including pasta sauces, soups, and frozen pizzas.

FoodBev initially reported on the agreement when it was first announced in August. Mark Clouse, the President and CEO of Campbell’s, expressed his excitement, stating that he was “delighted” to “welcome the highly skilled employees” from Sovos Brands.

Todd Lachman, the Founder, President, and CEO of Sovos, expressed confidence in the agreement, affirming his belief in Campbell’s capacity to expand the reach of their products to more households and to continue building upon their history of growth and success in the years ahead.

The completion of the transaction is contingent upon meeting several closing conditions, including regulatory approval. Sovos anticipates that the transaction will conclude in the fourth quarter of 2023.

Foodpanda appoints John Fang as new CEO amidst potential Southeast Asia sale

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October 18, 2023

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Foodpanda, the third-party food delivery aggregator, has announced the appointment of John Fang as its new CEO.

John Fang has held a variety of leadership positions at foodpanda over the past six years, starting with his role as Taiwan Country CEO when he first joined the company.

Most recently, he served as the Chief International Officer, overseeing business operations in foodpanda’s 11 markets. In his new capacity as CEO, Fang will persist in guiding and expanding foodpanda’s enterprise, with an unwavering commitment to enhancing the value and purpose within the food and grocery delivery ecosystem that foodpanda caters to.

Fang takes over from Jakob Angele, who stepped down as CEO of foodpanda after dedicating nine years to the company.

The appointment coincides with an announcement by Delivery Hero, the parent company of foodpanda, regarding the potential sale of foodpanda in Southeast Asia.

NewsHub

The Inspiration Behind Avanços Coffee:

Bridging the Coffee Gap in India:

Evolution, Challenges and Breaking Dogma:

Entrepreneurship Rooted in Learning: