Bollywood star Deepika Padukone invests in specialty coffee brand Blue Tokai

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September 15, 2023

Specialty coffee brand Blue Tokai Coffee Roasters has raised an undisclosed amount of funding from Ka Enterprises, the investment entity of Bollywood actress Deepika Padukone, as revealed in the company’s Friday press release.

As part of its Series B funding round, Blue Tokai Coffee Roasters secured an impressive $30 million in investment, with A91 Partners taking the lead. The company’s list of investors includes Anicut Capital, 8i Ventures, DSP Blackrock, Negen Capital, Mauryan Capital, and White Whale Ventures.

“We have followed the brand’s growth very closely over the past decade and observed their vision and commitment to quality and innovation and are therefore thrilled to partner with them on their journey of making Indian specialty coffee accessible, delivering unparalleled coffee experiences, and putting it on the global map,” commented Deepika Padukone, Founder, Ka Enterprises in a prepared statement.

Established in 2013, Blue Tokai Coffee Roasters operates a network of its own cafe stores and actively markets its products through e-commerce platforms and various marketplaces. In addition to its consumer-facing sales, the company also engages in B2B transactions. As of March 31, 2022, the company reported a revenue of INR 74 crore.

Currently, the brand has a presence in both India and Japan, boasting four roasteries and an extensive network of over 80 physical stores spanning across Delhi-NCR, Mumbai, Bangalore, Hyderabad, Kolkata, Chandigarh, Mohali, and Pune. Additionally, it frequently hosts pop-up events in Tokyo.

Swiggy and Goa govt empower local entrepreneurs with the Goa Chavath e-Bazaar initiative

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September 15, 2023

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Ahead of the Ganesh Chaturthi festival, Goa’s Chief Minister, Pramod Sawant, made an announcement on Thursday. He unveiled the “Goa Chavath e-Bazaar,” which showcases products from local women entrepreneurs and self-help groups. This initiative is made possible through a Memorandum of Understanding (MoU) with the online delivery platform Swiggy, and the e-Bazaar is accessible through Swiggy’s ‘Swiggy Minis’ section.

On Thursday, the delivery platform inked a deal with the Goa government to introduce the Chavath e-Bazaar on ‘Swiggy Minis’.

The primary objective of this partnership is to provide online exposure to local entrepreneurs, enabling them to reach a wider audience during the festive period. The Memorandum of Understanding was formally exchanged between Goa’s Chief Minister, Pramod Sawant, and Dolly Surekha representing Swiggy.

As per an official press statement, this collaboration is poised to generate income opportunities for local entrepreneurs by offering an array of more than 25 regional products.

Commencing from September 16th, Swiggy has introduced an exclusive e-Chavath Bazaar section within Swiggy Minis. This dedicated section allows customers to purchase homemade festive delicacies such as Modaks, Nevris, Laddus, and Kapa, along with an assortment of Goan-style snacks, including Chaklis, Papads, Farsan, Namkeen Nevris, masalas, and pickles, all from the convenience of their homes.

Nandan Reddy, Co-Founder of Swiggy, highlighted the significance of the collaboration with the Government of Goa. He emphasized how this initiative, while enhancing consumer accessibility, plays a pivotal role in empowering local entrepreneurs, particularly women and self-help groups.

He said, “Swiggy is honored to partner with the Government of Goa for the Chavath e-Bazaar 2023. This initiative enhances accessibility and convenience for consumers, offering a seamless way to connect with local entrepreneurs. By bridging tradition and technology, it empowers entrepreneurs, especially women and self-help communities, to preserve our culture and provide wider access to Goan sweets and snacks this Ganesh Chaturthi. We’re thankful to Chief Minister Pramod Sawant and everyone involved in bringing this initiative to life. Together, we’re fostering economic growth and celebrating the vibrant spirit of Goa.”

Swiggy Minis, dedicated to supporting small-scale entrepreneurs, has established a designated hub for the Goa Chavath e-Bazaar Stores to enhance their visibility and consumer reach. The press release mentioned that Swiggy is also conducting training sessions for relevant officials in online order management and operations, ensuring a seamless experience during the festive rush.

The MoU event was organized under the auspices of the Women and Child Welfare Department, uniting women entrepreneurs from various regions across the state.

Inspire Brand unveils innovation center in Hyderabad, set to create 500 jobs by 2025

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September 15, 2023

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Inspire Brand, the parent company of popular restaurant chains such as Baskin-Robbins, Buffalo Wild Wings, and Dunkin’, has officially inaugurated its Global Capability Centre (GCC) in Hyderabad, as announced by the company.

The establishment of the innovation center is a key component of the company’s strategy to enhance its competitive prowess in areas including data science, data analytics, e-commerce, automation, cloud computing, and information security. This initiative aims to provide a unique edge to its portfolio of brands.

Raghu Sagi, CIO of Inspire Brand, emphasized the significance of the center within the company’s strategy but refrained from disclosing specific investment details. He underscored the food service giant’s commitment to investing in talent development and building capabilities.

While the Global Capability Centre (GCC) is presently dedicated to serving the requirements of the Inspire Brand portfolio, Sagi did not entirely rule out the possibility of extending its services to other brands. Nevertheless, he emphasized that the company’s primary emphasis at the moment is on enhancing and expediting capabilities for its own portfolio of brands.

This marks the establishment of Inspire Brand’s sixth innovation center, following the ones in Atlanta, Boston, Champaign, Dubai, and Oklahoma City.

As of now, the Global Capability Centre (GCC) has a workforce of approximately 125 individuals. Natalie Rothman, the company’s Chief People Officer, revealed plans to ramp up the headcount to 500 by the year 2025.

Inspire Brand is a prominent American multi-brand restaurant corporation with a global presence, overseeing a network of more than 32,000 restaurants spanning six major brands: Arby’s, Baskin-Robbins, Buffalo Wild Wings, Dunkin’, Jimmy John’s, and SONIC Drive-In restaurants.

Within India, the company boasts an extensive presence with nearly 1,000 restaurants representing three out of its six brands: Baskin, BWW, and Dunkin’.

Indian tea industry forecasts 8% revenue decline in current fiscal due to export slump: Crisil Report

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September 15, 2023

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A decline in export volume is anticipated to lead to an 8% year-on-year degrowth in revenue for the Indian tea industry this fiscal, as stated by CRISIL Ratings on Friday, based on their study of 28 rated tea companies.

Operating profitability is set to decline for the second consecutive year, dropping by 100 basis points (bps) to 5% due to reduced realization. The previous fiscal saw a 150 bps decrease in profitability, primarily attributed to a rise in wages. Wages, accounting for 20% of the total production cost, were increased by 15% in the last fiscal year. Nevertheless, stable credit profiles will be maintained due to minimal capital expenditure (capex) and low leverage.

Nitin Kansal, Director, CRISIL Ratings, said “Domestic demand, which accounts for 82% of sales volume, should remain steady at 1,100 million kg this fiscal. However, exports, which make up 18% by volume and ~30% by value, may slide ~12% on-year to ~200 million kg. Last fiscal, the export volume had increased 14% due to lower production in Sri Lanka, a major tea exporting country.”

In the realm of tea exportation, India holds the position of the fourth-largest exporter, commanding an 11% market share, following China, Kenya, and Sri Lanka. This fiscal year, the augmented supply of Sri Lankan tea is expected to influence the demand for Indian tea.

Anticipated this fiscal year is a resurgence in Sri Lankan tea production, attributed to improved access to fertilizers and pesticides. Sri Lanka primarily focuses on producing orthodox tea, which enjoys significant global demand due to its high quality. The nation holds a substantial 50% share of the worldwide trade in orthodox tea. As a result, the revenue generated by Indian tea companies is expected to decrease due to reduced realization, despite stable domestic production projected at 1,350 million kg this fiscal. This decline in operating profitability is forecasted to lead to a 40% reduction in cash accrual for the fiscal year.

“Low capex intensity and stable working capital cycles will keep borrowings under control. So, the capital structure of tea companies in the CRISIL Ratings portfolio would remain stable, with gearing expected below 0.50 time as of March 31, 2024, in line with the historical trend. Healthy balance sheets will ensure comfortable debt protection metrics, lending stability to credit profiles,” said Argha Chanda, Associate Director, CRISIL Ratings.

Consequently, even though the operational performance is not robust, the interest coverage within the sample set is expected to remain at three times or more this fiscal year. It will be crucial to monitor the weather conditions in vital tea-growing regions and potential additional wage increases.

Yoga Bar diversifies into baby care market with new brand, Yoga Baby

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September 15, 2023

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Yoga Bar, a renowned producer of health foods, is venturing into the rapidly expanding baby care sector by introducing a fresh brand called Yoga Baby.

Suhasini Sampath, Co-Founder and chief executive officer of Yoga Bar, said that their new product range, which includes millet-based foods like porridge mixes, is intended to fulfill the nutritional needs of young children.

She mentioned that this product range will be accessible through the company’s online and e-commerce platforms, in addition to being available at various retail outlets.

In January of this year, the diversified group ITC unveiled its plans to acquire Yoga Bar from its parent company, Sproutlife Foods, in a gradual process spanning three to four years. This strategic move is aimed at enhancing ITC’s footprint in the health foods sector.

According to a report by Avendus Capital, the health foods and beverages sector in India is projected to reach a market value of $30 billion by the year 2026. The report further highlighted the potential for Indian consumers to increase their expenditure on health foods and beverages twofold within five years. Additionally, it emphasized that India is currently the fastest-growing health food market, with a remarkable 20 percent Compound Annual Growth Rate (CAGR).

According to research and analytics firm Statista, India boasted over 600 direct-to-consumer (D2C) brands last year, operating within a market valued at nearly $55 billion. This growth was primarily driven by the rapid expansion of e-commerce, increasing demand from tier-2 and 3 markets, and a culture of innovation.

The baby care market in India is projected to expand from $1.67 billion in 2023 to $2.91 billion by the year 2028.

Novotel Hyderabad Convention Centre launches HYBA, the new oasis of pan-Arabic cuisine

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September 15, 2023

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The Novotel Hyderabad Convention Centre proudly presents HYBA (Hyderabad Brings Arabia), a recently unveiled gastronomic oasis. This restaurant, infused with Pan-Arabic influences, invites patrons on a captivating culinary voyage, where they can savor the opulent flavors and aromas that echo the culinary heritage of the Middle East.

The cuisine selection is primarily driven by its harmonious fusion of fragrances, spices, and irresistible flavors. Indian spices infuse dishes with their distinct essence, complemented by Middle Eastern spices such as saffron, thyme, garlic, and yogurt, ensuring that each bite fulfills its pledge to deliver savory delights that leave a lingering desire for more.

Situated within the prestigious Novotel Hyderabad Convention Centre, HYBA presents a revitalizing concept imbued with contemporary allure. Its idyllic setting overlooking a stunning pool has been thoughtfully crafted to craft an ambiance of tranquility and luxury, effortlessly marrying modern sophistication with enduring charm. Providing a diverse array of seating choices, including intimate indoor spaces, romantic al fresco options, and relaxed bar-side areas, this establishment caters to a wide spectrum of patrons, making it the perfect destination for families, couples, friends, and solo adventurers alike.

The menu at HYBA invites you on a delightful journey through the vibrant flavors of the Mediterranean, offering a captivating array of dishes such as Jujeh Kebab, Lamb Tagine, Ruz Bukhari, Kunafa, and an array of other enticing options. Each dish is a burst of satisfying charm, promising a memorable culinary experience.

“HYBA is a culinary celebration of the Mediterranean’s finest flavors, where tradition and innovation unite to create a symphony of taste that transports our guests to the heart of the region. Hyba isn’t just about the cuisine, it’s about the transformation we wish to bring to our gastronomy,” said Chef Kailash Gundupalli, Director of Culinary Novotel Hyderabad Convention Centre & Hyderabad International Convention.

Notably, the beverage philosophy at HYBA encompasses signature infusions and a personalized Hyba experience known as the “House of Hyba.” These infusions have been meticulously honed by our mixologists over time to deliver an authentic and invigorating fusion of flavors.

“It warms my heart to finally open the doors to our new culinary delight, HYBA. Ever since we started out on this quest for a speciality restaurant to liven up our already exciting space, Novotel Hyderabad Convention Centre, we knew we wanted to bring a cuisine, that is not only from a region that the Hydrabadis are aspirational about, but is also one that is close to their hearts,” siad Rubin Cherian, the General Manager of Novotel Hyderabad Convention Centre & Hyderabad International Convention.

Toast Wine & Beer Festival returns for an exciting third season in New Delhi

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September 15, 2023

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The eagerly awaited third season of the Toast Wine & Beer Festival is making a triumphant return to DLF Avenue, Saket, New Delhi. Set to unfold over two thrilling days on September 23rd and 24th, this event guarantees an extraordinary display of the world’s finest international and local wine and beer brands. Alongside this, attendees can indulge in a diverse selection of culinary delights, be treated to captivating live performances, participate in wine tasting sessions, explore a beer arcade zone, join a sip & paint workshop, and relish a host of other exhilarating attractions. Prepare to immerse yourself in the festivities, as a carefully curated lineup of activities and performances by talented artists sets the stage for an unforgettable experience!

The Toast Festival embarked on its journey in March 2021, debuting with a memorable celebration in Delhi. Now, in its third season, Toast is once again uniting connoisseurs, beer enthusiasts, and inquisitive souls to commemorate life’s most cherished moments. Having journeyed through Delhi, Mumbai, Bangalore, and Pune, Toast is returning to its roots in Delhi once more.

The Toast Festival boasts an exciting roster of both international and local brands such as Bira 91, Simba, Kingfisher Ultra, Erdinger, Hill Station Cider, Lone Wolf, Fratelli, Pursue Hard Seltzer, Señorita Angel, Sangria’s by PCO, and many others. Get ready to groove to the music as we have an impressive lineup of artists including Aditya Rikhari, Hari & Sukhmani, BeatCrush, DJ SA, and more, all set to ignite the stage. Explore your creative side at our sip & paint workshop while savoring a glass of fine wine or beer and crafting your own masterpiece. And, of course, embark on a culinary journey with delectable food offerings carefully curated to complement your wine and beer selections perfectly.

The Toast Festival is brought to life through the collaborative efforts of two teams: WMS and Passcode Hospitality. WMS is a versatile company specializing in brand activations, event production, curating vibrant nightlife experiences, and managing artist bookings. With over a decade of expertise in organizing events for prominent global and domestic brands throughout India, WMS is also responsible for creating music experiences and intellectual properties like India Cocktail Week and the Toast Wine & Beer Festival.

On the other hand, Passcode Hospitality, established in 2012, is a boutique hospitality firm renowned for its leadership in the F&B industry in India. They own and operate multiple iconic establishments in New Delhi, including PCO, ATM, Ping’s Cafe Orient, PDA, Saz, Jamun, and the exclusive members-only club, A Ta Maison.

Secure your event tickets, now accessible through PayTm Insider, with prices commencing at just INR 499/-.

Kentucky Coffee redefines the RTD space with new whiskey-infused hard cold brew lineup

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September 15, 2023

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Kentucky Coffee, known for its delightful coffee-infused whiskey, has ventured into the ready-to-drink (RTD) sector by introducing its latest offering: the Hard Cold Brew collection.

This lineup features three delectable flavors – black, vanilla, and mocha – crafted using premium whiskey and cold brew.

Don Deubler, CEO of Kentucky Coffee’s parent company, Atomic Brands, said, “Coffee and whiskey are beloved in their own rights and come together naturally when blended. It’s a timeless pair that’s been largely overlooked within the RTD space – we’re excited to fill that gap for consumers.”

“Lemonades, teas and sparkling water have made their way from the non-alcoholic RTD category, but we’ve been missing coffee. Kentucky Coffee Hard Cold Brews answer that,” he added.

The mixed cocktails will roll out nationwide in 12oz cans at 5.9% ABV this autumn.

Mars commits $1 Billion to achieve net-zero emissions, unveils detailed roadmap

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September 15, 2023

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Mars chocolate bar (Representative Image)

Mars has unveiled ‘The Mars Net Zero Roadmap,’ a comprehensive strategy aimed at attaining carbon neutrality throughout its entire supply chain by 2050.

Within the roadmap, a fresh objective has been incorporated, seeking a 50% reduction in emissions by 2030 compared to the 2015 baseline, along with a clear trajectory leading to complete carbon neutrality by 2050.

Despite reaching its peak emissions in 2018, the company has successfully curtailed its greenhouse gas emissions by 8%, equivalent to a reduction of 2.6 million metric tons, when compared to its 2015 baseline. Remarkably, the company has achieved this while simultaneously expanding its business by 60% during the same period.

As an integral component of the action plan, Mars has committed to investing more than $1 billion over the next three years and will remain dedicated to allocating financial resources as necessary until it attains its goal of net-zero emissions.

A recent Ipsos survey, commissioned by Mars, has revealed that even amidst challenging economic conditions, an average of 69% of adults in the world’s seven largest economies believe that businesses should maintain or increase their efforts in addressing climate change rather than prioritizing economic challenges. This comprehensive research involved 14,468 individuals across the USA, UK, China, Japan, Germany, France, and India.

The survey also highlighted that close to half of the population in the world’s seven largest economies assign “significant” responsibility to multinational corporations and governments for implementing measures to combat climate change.

Poul Weihrauch, Mars CEO said, “We cannot wait for the economy to improve; we must push forward with investments that protect our business today and in the future…Investment in climate is not a trade-off between planet and productivity, or between environment and employment. Consumers and our associates clearly want both – and so do we. Investing in emissions reductions is sound business policy, it is achievable, affordable, and it is absolutely necessary.”

In pursuit of net-zero emissions, Mars intends to intensify its efforts by transitioning to 100% renewable energy sources, overhauling supply chain practices to halt deforestation, expanding climate-smart agriculture initiatives, refining recipes, enhancing logistics efficiency, and deeply integrating climate action into its core business operations.

Weihrauch emphasized that companies should be evaluated based on the tangible outcomes they achieve in alignment with their climate strategies, rather than solely on the magnitude of their commitments. He drew a parallel, stating that similar to how boards and investors assess performance based on financial results, the focus should be on the delivery of climate goals rather than the caliber of climate projections.

Prasuk Jain Hospitality unveils The Game Luxe, a luxury entertainment bar at Phoenix MarketCity in Mumbai

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September 15, 2023

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Prasuk Jain Hospitality is thrilled to unveil The Game Luxe, an exclusive boutique bowling and entertainment bar, in a grand launch event. This prestigious establishment will make its inaugural appearance at the renowned Phoenix MarketCity in Mumbai, India.

“The Game Luxe stands as a testament to my long-held vision, a place where opulence and entertainment seamlessly intertwine, creating an unforgettable, immersive, and experiential journey. We aimed to create an unparalleled destination where indulgence leads to lasting memories. And as I always say, until we know we are spreading smiles and happiness amongst people, we know we are doing the right thing. The Game Luxe is set to bring a new era of entertainment and hospitality of international designs and standards in India,” shared Prasuk Jain.

Following the immense popularity of The Game, The Game Palacio, The Game Ranch, and The Game Garden, all cherished indoor destinations celebrated for providing top-tier entertainment and sports activities, The Game Luxe is set to elevate this experience to unprecedented levels, turning it into a lavish and opulent escapade.

Furthermore, the resto-bar boasts a diverse menu, tempting desserts, and carefully crafted cocktails.

The Game Luxe transcends being merely a gaming and entertainment destination; it serves as a lively and dynamic hub of experiences. Here, live music, themed nights, and interactive DJ sessions introduce an entirely new realm of excitement within the mall.

“We are very excited to launch and expand The Game Luxe locations around the nation. Soon Mumbai, Bangalore, Hyderabad and Delhi will also host their own The Game Luxe by the end of this year,” he added.

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