Japanese curry chain Coco Ichibanya further expands its presence with new outlet in Gurugram

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September 14, 2023

CoCo ICHIBANYA, the renowned Japanese curry restaurant chain with a global presence, is thrilled to announce the grand opening of its third location in India, conveniently located at M3M IFC in Gurugram.

With this recent expansion, CoCo ICHIBANYA has solidified its presence on the international stage, boasting an impressive network of over 1400 establishments across 13 different countries and regions.

CoCo ICHIBANYA is dedicated to revolutionizing the food and beverage industry in India by introducing an authentic Japanese dining experience centered around delicious, genuine curries and a wide array of Japanese delicacies.

The recently opened CoCo ICHIBANYA location offers a truly authentic Japanese dining experience, showcasing a diverse menu that includes soups, salads, starters, curries, udon, ramen, beverages, and desserts.

Devesh Srivastava, Chief Executive Officer of CoCo ICHIBANYA, said, “The name “Ichibanya,” meaning “number one” in Japanese, reflects our commitment to excellence in menu, services, and overall experience. This expansion aims to bring a taste of Japanese culture to the Indian palate, offering a delightful alternative for curry and spice enthusiasts seeking something beyond the ordinary.”

In Japan, curry represents the epitome of comfort food, best enjoyed when generously ladled over rice and adorned with various garnishes.

At CoCo ICHIBANYA, customers enjoy the liberty of personalizing their curry dishes by selecting from a captivating array of toppings, spice levels, and portion sizes to pair with their Japanese sticky rice.

The menu accommodates a broad spectrum of tastes, offering options for both non-vegetarian and vegetarian diners, all while upholding exceptional global standards of quality.

Prominent selections on the menu include Chicken Katsu Curry, Shrimp Katsu Curry, Chicken Momo Curry, Cheese Croquette Curry, Soupy Udon, Ramen, Chicken Basket, and Seafood Basket.

Furthermore, there is an assortment of Japanese-style toppings available, such as cheese croquettes, Shrimp Katsu, Chicken Katsu, fried fish, and fried shrimp.

The CoCo ICHIBANYA team celebrates the diversity of Indian cuisine by incorporating dishes like the Chicken Keema and Paratha Curry Set, blending genuine Indian flavors with a Japanese twist.

As a gesture of respect for Indian culture, they have replaced beef dishes with vegetarian, chicken, and seafood alternatives to cater to a variety of dietary preferences.

Cornitos launches the ultimate fusion of flavor and rewards with the Corny Club!

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September 14, 2023

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Cornitos has introduced the Corny Club on their website. The Corny Club serves as an extension of their recently launched Mascot campaign, featuring the mischievous character, Corny the Un-Cooperative Chimp. The primary objective of this campaign is to establish enduring relationships with customers and elevate brand recognition to unprecedented levels.

The Corny Club is the ultimate fusion of flavor and enjoyment, where each delectable bite inches you closer to exclusive rewards and delightful surprises. Picture yourself in a trendy Corny T-Shirt, savoring your drink from a Cornitos-branded Sipper, or proudly displaying your loyalty with a Corny Keychain—these perks are exclusively reserved for members of the Cornitos Corny Club.

Embarking on this adventure is as straightforward as creating an account and becoming a valued member of the continually expanding Cornitos community. What’s particularly thrilling is that users have the opportunity to accrue loyalty points without needing to make a purchase. By sharing your adoration for Cornitos on social media, crafting reviews of your cherished products, posting your Cornitos experiences on Instagram, you’ll witness your points take flight. The greater your involvement, the more rewards you’ll reap!

Fundamentally, the Corny Club centers around cultivating enduring relationships with its customers. Not only do customers relish regular discounts on shop.cornitos.in, but they also amass valuable loyalty points as part of the Corny Club experience. Beyond the realm of rewards, the Corny Club also serves as a platform to strengthen the presence of Cornitos’ mascot, Corny.

Vikram Agarwal, Managing Director of Greendot Health Foods Pvt. Ltd., expresses his excitement, saying, “I’m thrilled to extend a warm invitation to all our valued customers to join Corny Club, where love for Cornitos is not only appreciated but also generously rewarded.”

Becoming a member of the Corny Club is a simple process, earning points is a joy, and redeeming rewards is just a few clicks away. So, why hesitate? Register today at https://shop.cornitos.in/pages/reward

Samhi Hotels racks up INR 616.54 Crore investment as it prepares for forthcoming share sale

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September 14, 2023

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Samhi Hotels, on Wednesday, disclosed that it secured INR 616.54 crore from anchor investors in preparation for its forthcoming initial share sale. As per information published in a circular on the BSE website, the company allocated 4,89,32,143 equity shares to 35 entities at an average price of INR 126 apiece.

Anchor investors in the offering include SBI Mutual Fund (MF), Aditya Birla Sun Life MF, ICICI Prudential MF, Tata MF, Elara India Opportunities Fund, Singapore Government, Monetary Authority of Singapore, Societe Generale, Segantii India Mauritius, D E Shaw Valence International (SPV) LLC, Lion Global Asia Pacific Fund, and Citigroup Global Markets Mauritius Pvt Ltd.

On Monday, Samhi Hotels, headquartered in Gurugram, announced the pricing range for its upcoming primary share sale of INR 1,370 crore. The share sale is scheduled to commence on Thursday, with a price band set between INR 119 and INR 126 per share.

The Initial Public Offering (IPO) consists of a new issuance of equity shares valued at a maximum of INR 1,200 crore, along with an Offer For Sale (OFS) of up to 1.35 crore shares.

Prior to the IPO, external investor Blue Chandra divested 10.32 million shares, equivalent to 8.4 percent of its holdings, to prominent investor Madhusudan Kela’s spouse, Madhuri Kela, in addition to Nuvama Crossover Opportunities Fund and TIMF Holdings. The total transaction amount for this sale amounted to INR 130 crore.

JM Financial and Kotak Mahindra Capital Company have been appointed as the book-running lead managers for the offering.

Samhi specializes in acquiring or constructing primary hotels, followed by renovation, rebranding, and upgrading of the property, which it then manages. With 13 years of experience in the industry, Samhi has successfully added 369 keys in FY23, making it the third-largest hotel owner by the number of keys. This brings their total key count to 4,800 across 31 operational hotels, including their most recent acquisition of ACIC last month.

The company possesses land for the construction of a 350-key hotel located in MIDC, Navi Mumbai.

Unilever invests $20.8 Million to boost ramen noodle production in Poland, focusing on automation and sustainability

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September 14, 2023

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Unilever’s Knorr brand of flavourings and noodles.

Unilever has committed to enhancing its Poland-based food manufacturing facility located in Poznań, with a focus on boosting production for its ramen noodles brands.

The multinational FMCG conglomerate is directing an investment of approximately 90 million zlotys ($20.8 million) into the plant to incorporate a new production line dedicated to its Knorr, Unox, and Amino noodle brands, as stated in their announcement.

Unilever has revealed that automation will be integrated into the project, empowering the facility to manufacture 600,000 noodle packs daily for distribution in Poland, Hungary, the Netherlands, and specifically chosen European nations.

Poznań, part of Unilever’s nutrition business division, stands as one of Unilever’s three factories in Eastern Europe. Additionally, the company maintains an operations center in Katowice and a facility in Bydgoszcz, specializing in the production of home and personal-care products.

“The investment in Poznań will help us continue to respond to the growing demands of the European market,” Hanneke Faber, the president of the nutrition business unit, said. “Moreover, our Polish food business is also strengthening its position.”

While Unilever refrains from providing specific sales figures for individual emerging-market nations, it underscores the significance of this geographical region as a central growth priority for the company.

During the initial half of its most recent fiscal year, which was reported in July, Unilever achieved an underlying sales growth (USG) rate of 10.6% in emerging markets, surpassing the overall group’s rate of 9.1%. Notably, the global nutrition division also demonstrated strong performance with a USG of 10.4%.

The company’s total global revenue reached €30.4 billion ($32.6 billion) over the span of six months.

The forthcoming production line in Poznań will be implemented with a strong focus on sustainability, including efforts to optimize energy and water usage.

Przemysław Fejfer, the director of the factory, added, “Our Poznań factory is one of the largest food production plants in Unilever. Thanks to further investments, we will be able to respond even more effectively to the needs of our customers and continue to develop our business.”

Just across the Polish border in Ukraine, Unilever revealed in March its commitment to invest €20 million in a new facility dedicated to the production of personal-care products in the Kiev Oblast region.

Nevertheless, Unilever has faced criticism for maintaining its operations in Russia, despite the country’s invasion of Ukraine in February 2022.

In July, Unilever was added to the “international sponsors of war” list of Ukraine’s National Agency for the Prevention of Corruption (NACP).

FMCG peer Mondelez International is also on the list, while PepsiCo and Mars were added this month.

La Kaffa International set to reintroduce Chatime to the US market with swanky new outlets

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September 14, 2023

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Taiwanese food and beverage conglomerate La Kaffa International has revealed plans to reintroduce Chatime to the United States market. They will kick off this endeavor by inaugurating the initial of three Chatime outlets at Westfield Culver City.

La Kaffa’s foray into the US market forged a partnership with Chatime Group Australia, aiming to expand the brand to a broader range of international destinations.

As the franchisor of Chatime, La Kaffa has built a two-decade legacy in the industry. It has operated as a publicly traded company in Taiwan, overseeing multiple food and beverage brands during this time.

La Kaffa has set its sights on establishing 1,000 stores in the United States within the next decade. To kickstart this expansion, the company’s initial strategy involves opening stores in local malls throughout Los Angeles, including locations such as Westfield Fashion Square in Sherman Oaks and Simon Mall Fashion Center in Torrance.

“The opening of our newest Chatime store in Culver City, Los Angeles, is the beginning of our bigger plan for the US market! We are poised to open more stores in the coming years to bring the Chatime experience to each and every American, one cup at a time,” said Henry Wang, Founder and Chairman La Kaffa Inc., the franchisor of Chatime.

Chatime boasts a global presence with more than 1,400 outlets spanning across 60 countries. Originating in Taiwan, Chatime has been revolutionizing the world of tea since its inception in 2005. Its significant markets include Indonesia, the Philippines, Malaysia, Cambodia, South Korea, Japan, Australia, Canada, and the United Kingdom.

ITC backs Welcomhotels Sri Lanka with close to INR 3,000 Crore investment

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September 14, 2023

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ITC Ltd, which recently unveiled plans to demerge its hotels business, has committed an equity investment of approximately INR 3,000 crore in Welcomhotels Lanka Pvt Ltd, with the most recent investment totaling $20 million.

According to official data from the Reserve Bank of India, ITC injected $20 million into the equity of Welcomhotels Lanka Pvt Ltd in July. As per Welcomhotels’ annual report for FY23, the parent company, ITC Ltd, holds a total of INR 2,775 crore in equity and preference capital.

The Sri Lankan property spans 5.86 acres of premium oceanfront land in Colombo, featuring a luxurious hotel and an ultra-premium residential apartment complex known as ‘Sapphire Residences.’ The property encompasses 352 rooms, suites, and serviced apartments, along with 12 dining establishments. As per information available on the ITC Hotels’ website, the hotel is scheduled for completion in 2023.

According to the annual report, “The project construction activities, which had ramped up post the pandemic, were also impacted during the year on account of the challenging operating conditions prevalent in the country. Despite these challenges, the company took all steps to expedite project work; significant progress was made during the year in the façade, finishes, mechanical, electrical, and plumbing works.”

However, it also mentioned that the muted business environment and macro-economic challenges faced by the country have impacted sales of ‘The Sapphire Residences’ luxury apartments. “Given its unique positioning in the market and superior value proposition, it is anticipated that apartment sales would gain traction as the project nears completion and the situation in the country normalises,” the company added.

“Project construction activity was running on schedule till Q3 of FY2018-19,” it said, adding that conditions were adversely impacted due to disruptions in the aftermath of the terror incidents in 2019, recurrent waves of Covid and the challenging socio-economic and operating conditions prevailing in the country over the last 18 months.

The situation in the nation is gradually moving towards stability. The Sri Lankan government has implemented a series of measures to strengthen the economy. These measures involve obtaining financial support from international organizations and foreign nations, raising interest rates to control inflation, limiting non-essential imports to preserve foreign currency reserves, and introducing taxation to augment government revenue, among others.

ITC was not available for comment.

As per DGCA data, there is an increasing trend in travel between India and Sri Lanka. During the April to June quarter, more than two lakh passengers traveled from Sri Lanka to India, while a similar number of Indian passengers visited Sri Lanka.

Bira 91 and NAO Spirits introduce the ‘Greater IPA’, a unique blend of beer and gin flavors

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September 14, 2023

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Bira 91, a rapidly expanding global beer brand, has teamed up with NAO Spirits, the pioneers of the Indian craft gin scene known for their London Dry Gin called Greater Than. Together, they are introducing a special edition beer named “Greater IPA,” inspired by the flavors of gin.

Drawing its inspiration from the enchanting realm of gin botanicals, the Greater IPA incorporates Macedonian Juniper, a vital component in Greater Than’s London Dry gin, to infuse the IPA with a robust and spicy essence. Unlike the typical fruity hops often encountered in IPAs, the hops used in this brew possess a piney quality that harmonizes beautifully with the distinct juniper flavor, resulting in a harmonious blend of piney and spicy undertones.

Starting September 14, 2023, the Greater IPA will be exclusively offered at Bira 91 Taprooms located in Gurugram’s DLF Cyberhub and Bengaluru’s Koramangala, while supplies last.

Commenting on the launch, Ankur Jain, Founder and CEO, Bira 91 said, “We are thrilled to unveil Greater IPA, a Limited Release gin-inspired beer created in collaboration with Greater Than Gin, a crowd-favorite and one of the fastest growing brands in the country. This collaboration reaffirms our commitment to innovation, bringing together two exceptional brands to offer a distinctive and remarkable consumer experience.”

In honor of the launch, Bira 91 and Greater Than will introduce a special cocktail menu and host guided tastings by their brewers. You can exclusively savor the Greater IPA beginning on September 14, 2023, at Bira 91’s Taproom locations in Cyberhub, Gurugram, and Koramangala, Bengaluru.

“We’re absolutely delighted about this collaboration with the passionate lot of brewers at Bira 91, the trailblazers behind India’s craft beer revolution. As the first Craft Gin in India, Greater Than has naturally taken a lot of heart from Bira 91’s success in the country and it made absolute sense to bring our two brands together for something fun,” added Anand Virmani, Co-Founder & CEO, NAO Spirits and Beverages Pvt Ltd.

Amazon boosts retail in Maharashtra with 35,000 new sellers on its platform

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September 14, 2023

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The e-commerce giant Amazon has successfully enlisted 35,000 retailers from Maharashtra onto its platform via its ‘Local shops on Amazon’ initiative. This program, introduced in 2020, entices retail store owners to showcase their businesses on Amazon’s platform, thereby enhancing their sales and visibility.

The company has enlisted retailers hailing from cities such as Mumbai, Pune, Nashik, Thane, Satara, and Nagpur. These sellers represent diverse categories, spanning kitchen, apparel, grocery, electronics, major appliances, home, and furniture. On a national scale, the company has brought onboard 300,000 retail shop owners across 344 cities. These sellers retain the flexibility to continue their sales through their independent online and physical channels, in addition to utilizing the company’s platform. Furthermore, they have the option to fulfill orders received from other platforms by leveraging the company’s logistics network, as stated by Abhishek Jain, the head of Amazon India’s Local Shops division.

The company intends to expand the presence of local shops on its platform in anticipation of the upcoming festive season.

Small and medium-sized businesses experienced robust sales on Amazon Prime sales day, with 90,000 sellers receiving orders from Prime members, as reported in a statement.

Assam and QCI unite to strengthen food safety framework in the state

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September 14, 2023

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The Quality Council of India (QCI) and the Commissionerate of Food Safety in Assam, under the Department of Health and Family Welfare, have entered into a Memorandum of Understanding (MoU) aimed at enhancing the food safety framework within the state.

According to an official statement, the MoU is designed to establish quality infrastructure mechanisms, including initiatives like the conformity assessment framework, infrastructure development, and the training and capacity building of various stakeholders, among other objectives.

The MoU was signed at the Assam Gunvatta Sankalp event by the QCI with the support of the state government, and marks a significant milestone in the journey towards excellence in quality and this collaboration will further strengthen the quality and safety of food products in the state, the release stated.

Besides the signing of the MoU, the Sankalp also featured sessions with various aspects of the state’s development in multivariate sectors including education and skilling, industry and MSME, sustainable agriculture, tourism, culture and infrastructure.

Assam Chief Secretary Paban Kumar Borthakur said that high-quality products and services can enhance a country’s economic growth.

”QCI’s efforts in areas such as quality certification, accreditation, and training can help improve the quality of products, services, and infrastructure in Assam, which in turn can have a positive impact on the state’s development,” he said.

Inaugurating the Sankalp, Industries Secretary Dr Lakshmanan S, said that the state’s unique cultural heritage and vast potential have always set it apart and it has to be harnessed fully. ”The Gunvatta Sankalp isn’t just a pledge, it is a promise to raise the bar in every aspect of our society, and we are committed to igniting quality revolution as a strong pillar for the state’s growth,” he said.

QCI Chairperson Jaxay Shah said, ”Quality is a universal language, and we are excited to work hand in hand with Assam to turn this vision into reality. We are aiming to nurture a quality culture in every corner of the state,” he added.

The Quality Council of India, established in 1997 by the Government of India and the Indian industry, is the apex organisation responsible for establishing and operating the third-party national accreditation system, improving quality across sectors and advising the government and other stakeholders on matters concerning quality.

Coffee Day Enterprises shares surge by 20% after successful resolution with IndusInd Bank

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September 14, 2023

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Shares of Coffee Day Enterprises Ltd saw a significant 20 percent surge on Wednesday. This remarkable uptick followed a resolution between Coffee Day Global Ltd (CDGL) and its financial creditor, IndusInd Bank. Consequently, the National Company Law Appellate Tribunal (NCLAT) reversed the insolvency order against the company that owns and manages the well-known Cafe Coffee Day coffee chain.

The stock exhibited an impressive rally of 19.77 percent, eventually closing at INR 51.26 per share on the BSE. Throughout the day’s trading session, it surged by 20 percent, reaching INR 51.36, which corresponds to its upper circuit limit.

On the NSE, it experienced a notable 20 percent surge, reaching INR 51.30 per share, which marked its upper circuit limit.

In terms of trading volume, the company witnessed the exchange of 31.18 lakh shares on the BSE and more than 2 crore shares on the NSE throughout the day.

The legal representatives for CDGL and IndusInd Bank conveyed news of the settlement to the Chennai bench of the National Company Law Appellate Tribunal (NCLAT) on Wednesday. They requested permission to withdraw the insolvency litigations in light of this development.

A two-member bench, consisting of Justice M Venugopal and Shreesha Merla, duly acknowledged their presentations and proceeded to nullify the order that had admitted CDGL to insolvency.

According to the FY23 annual report of Coffee Day Enterprises Ltd (CDEL), the parent company, CDGL boasts ownership of 469 cafes across 154 cities, along with 268 CCD Value Express kiosks. Furthermore, it actively managed a network of 48,788 vending machines that dispensed coffee in corporate workplaces and hotels under its brand.

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