This groundbreaking endeavor was revealed during the grand opening of Stovekraft's 100th store.
Stovekraft, a pioneer in revolutionary cookware, kitchenware appliances, and consumer lighting, is cultivating a culture of entrepreneurship, innovation, and inclusivity. They have launched an exceptional franchise opportunity exclusively for women, with no initial capital investment required. This groundbreaking endeavor was revealed during the grand opening of Stovekraft’s 100th store.
This initiative strongly underscores Stovekraft’s unwavering commitment to promoting gender equality and diversity. Stovekraft is dedicated to investing in the establishment of these stores, empowering women across India who opt to be a part of this program.
Rajendra Gandhi, MD of Stovekraft Limited stated, “Since our inception, we have consistently launched programs aimed at enhancing the skills of women and integrating them as invaluable members of our organization. Approximately 80 percent of our workforce, encompassing roles from managerial to workers, consists of women. Our latest endeavor, the ‘Exclusive Franchise Opportunity for Women,’ is designed to support women entrepreneurs and promote their active engagement in the retail sector. This initiative aligns perfectly with our overarching vision of inclusivity and empowerment for all stakeholders.”
Stovekraft Limited commenced its retail journey a mere 14 months ago, back in June 2022. In this astonishingly brief period, the company has reached a significant milestone by opening its 100th store. This accomplishment reaffirms its steadfast dedication to providing top-notch kitchen solutions and an unmatched shopping experience.
Stovekraft’s well-planned retail expansion strategy is poised to sustain its momentum in the upcoming years. The company is committed to strengthening its retail footprint across India, introducing customers to cutting-edge innovations in kitchen technology and design, thereby transforming kitchens on a nationwide scale.
The Skin Diet Company isn’t your typical skincare brand; it embodies a transformative voyage that seamlessly incorporates the nourishing power of superfoods into your daily skincare regimen. Founded by the visionary Harshita Rai, the standout products in their skincare collection include the Avocado Milky Serum and the Watermelon Face Wash, offering a comprehensive approach to revitalizing your skin.
Amidst the bustling streets of New York City, Harshita embarked on a personal odyssey, facing the rigors of daily life and the relentless pressures it imposed. It was within these demanding moments that she unearthed the paramount importance of self-care and the adoption of a healthy lifestyle. Her pursuit of a solution led her to the world of conscious consumption and the remarkable potential of superfoods, eventually giving rise to The Skin Diet Company.
The Skin Diet Company is dedicated to the meticulous creation of skincare products that fully utilize the incredible potential of superfoods, providing exceptional nourishment for your skin. Their mission goes beyond skincare; it embodies authenticity, self-acceptance, and a positive attitude towards one’s skin. The brand empowers individuals to embrace their innate beauty, prioritizing self-care and self-love above all else.
The Avocado Milky Serum and Watermelon Face Wash stand as prime examples of The Skin Diet Company’s unwavering dedication to your skin’s health. These items are integral components of an extensive lineup that epitomizes the essence of skin minimalism, meticulously crafted for both ease of use and remarkable results. The assortment additionally encompasses the Matcha Toner, Beetroot Moisturizer, and Banana Under-Eye Cream, with conveniently sized options tailored for those with busy, on-the-go lifestyles.
Nevertheless, The Skin Diet Company’s devotion extends beyond skincare. They proudly uphold their status as sulfate-free, paraben-free, toxin-free, alcohol-free, and synthetic fragrance-free. Their steadfast dedication to cruelty-free principles ensures that every product undergoes rigorous dermatological testing, guaranteeing a secure and ethically responsible skincare experience.
In the vibrant and diverse culinary landscape of India, one essential ingredient stands tall – the humble onion. Loved for its versatile flavor and ubiquitous presence in Indian cuisine, this vegetable has recently been making headlines for all the wrong reasons. Onion prices are expected to soar in the coming month, potentially reaching INR 55 to INR 60 per kilogram, leaving restaurant owners facing a challenging predicament.
SnackFax spoke to Founders and Chairpersons of renowned establishments to understand their strategies for dealing with this impending challenge and how it might affect their menus and prices.
Mr. Tarun Kumar Chaba, the Founder of The Big Tree Cafe, shared his insights on the matter. “Even though we have a fixed agreement with our vegetable supplier for the year, we know that onion prices are expected to go up next month, possibly reaching INR 55- INR 60 per kg,” he states. To navigate this issue, Mr. Chaba’s restaurant plans to make several changes to their menu, such as using fewer onions and finding suitable substitutes. They may also need to adjust menu prices gradually to avoid inconveniencing their guests.
In a bid to support local farmers and reduce costs, The Big Tree Cafe will explore using seasonal and locally sourced ingredients. Transparent communication with their customers is paramount. “We want to keep them informed and hope they understand our challenges. We’re going to focus on running our kitchen efficiently, reducing waste, and using ingredients wisely,” Mr. Chaba affirms. He adds that staff training to use onions more efficiently and avoid overstocking will also be a key component of their strategy. Despite these challenges, their commitment to providing great dining experiences at affordable prices remains unwavering.
Float, a restaurant known for its supply chain management prowess, sees this challenge as an opportunity to showcase its resilience. Founder Varun Puri explains, “Our past experiences have demonstrated that strong supply chain management is effective in maintaining stability. Additionally, we have confidence in the proactive decision of the central government to release onions from their buffer stocks.”
Varun believes that such government interventions benefit both establishments and households, “This action is seen as a significant step to mitigate the expected increase in onion costs, which is a key ingredient in many dishes. Efficient supply chain management and government interventions like releasing buffer stocks are vital strategies to ensure that food remains affordable and accessible during periods of price volatility.”
Dearie, another player in the culinary world, also boasts a robust supply chain management system. Founder Akshay Chauhan expresses confidence in their approach, “Amidst the ever-fluctuating vegetable market prices, our restaurant proudly showcases the success of its robust supply chain management system in effectively tackling these challenges. Our track record attests to the effectiveness of this approach in maintaining stability.”
Akshay appreciates the government’s proactive stance, “Moreover, we express confidence in the proactive measures taken by the central government, particularly their decision to release onions from their buffer stocks. This action is a significant move toward mitigating the anticipated surge in onion costs, a crucial ingredient in many of our dishes.”
Romeo Lane, under the guidance of Chairman Saurabh Luthra, is committed to striking a balance between quality and affordability. Saurabh explains their approach, “We are actively pursuing various approaches to ensure that we strike a harmonious equilibrium between maintaining quality and affordability for our valued customers.”
He emphasizes their dedication to enhancing the overall dining experience, “Our focus will remain on enhancing the overall dining experience, which encompasses exceptional service and an inviting ambiance, thereby justifying any necessary price adjustments.”‘
Dr. Shruti Malik, Founder of Anardana, reassures their patrons about the restaurant’s unwavering commitment to maintaining quality and quantity in their dishes. “While external factors may drive up costs,” she assures, “our team at Anardana is committed to providing you with the same exceptional dining experience you expect from us.” Dr. Malik emphasizes their refusal to compromise on the essence of their dishes and their readiness to absorb as much of the increased costs as possible without burdening their valued patrons.
Anardana remains steadfast in their commitment to affordability and guarantees that the quality of their food will not suffer, promising to always serve their patrons the best.
In the face of rising onion prices, these restaurant owners and founders stand united in their commitment to preserving the integrity of Indian cuisine while ensuring that their valued patrons continue to enjoy delicious meals without breaking the bank. Their innovative approaches, ranging from supply chain management to ingredient substitutions, highlight their dedication to the culinary arts and their unwavering support for local communities. As diners, we can look forward to savoring the rich flavors of Indian cuisine while appreciating the efforts made to keep it accessible and affordable.
Anirudh A. Damani, Director of Artha India Ventures
Artha Group, boasting an impressive INR 1000 crore in Assets Under Management (AUM), is excited to introduce the Artha Continuum Fund (ACF). This innovative syndicate fund is meticulously crafted to cater to the unique needs of family offices and Ultra High Net Worth Individuals (UHNIs). ACF serves as a pivotal gateway, facilitating seamless transitions for startups on their journey to becoming thriving growth-stage ventures. It offers elite investors an exclusive opportunity to access and participate in high-potential investment rounds.
With ACF, investors gain access to opportunities that were previously beyond their reach, primarily because of the substantial capital requirements associated with such rounds. The fund will strategically collaborate with leading VC funds, providing investors with a smooth entry into the world of growth-stage venture capital. This combination equips investors with the due diligence capabilities of venture capital and the cost-efficiency benefits of direct investment.
Anirudh A. Damani, Director of Artha India Ventures, says, “ACF arose from listening to our discerning investors. They yearned for a competent entity to oversee rigorous due diligence, sophisticated negotiations, and post-investment management while crafting their direct investment narratives.”
ACF tackles a significant issue often encountered by family offices and UHNIs – the need for extensive due diligence and negotiation expertise. With its substantial resources and experienced team, ACF stands out as the premier choice for individuals seeking higher returns from private investments while remaining cautious about the inherent risks in early-stage startups. Importantly, ACF is not a blind pool; it provides investors with the freedom to independently choose and allocate funds for each deal.
Sandesha Jaitapkar, COO, Artha Group, says, “ACF is more than just a fund. It’s a movement to democratize elite investments in tech startups. We bridge the gap, allowing UHNIs to be actively involved, benefiting from the collective wisdom of seasoned VCs and superangels.”
Through its strategic partnership with Artha India Ventures, ACF has secured preliminary commitments from prominent LPs. The fund maintains its dedication to supporting top-tier companies that demonstrate substantial progress and clear paths to profitability. ACF’s core strategy revolves around solving real-world challenges, enhancing unit economics, strengthening competitive advantages, and harnessing technology as a powerful facilitator.
Proven Track Record in Syndication:
Prior to obtaining its license, Artha Group developed its syndication expertise through strategic collaborations. It successfully led an impressive INR 18 crore ($2.7 million) syndicate with LeverageEdu, participated in a substantial $1.9 million syndication for the no-code platform Laminar, and made a noteworthy INR 5.5 crore investment in the pioneering spacetech company, GalaxEye. These ventures serve as clear evidence of the group’s proficiency and forward-thinking approach in identifying and nurturing high-potential startups.
Established in 2012, Artha India Ventures, known as ‘AIV,’ has firmly solidified its position as a prominent player in the investment arena. Serving as the General Partner for flagship funds like the Artha Venture Fund and Artha Select Fund, AIV plays a pivotal role in shaping their investment strategies. Additionally, its involvement as a Limited Partner in various global funds highlights its extensive reach in the investment sphere. AIV boasts a diversified portfolio that spans across more than 80 startups located in India, the USA, Israel, and Africa, with notable investments in market-leading companies such as OYO, Purplle, LeverageEdu, Exotel, Karza, Tala, IconBuild, Caja Robotics, and Badili.
The Artha Group embodies diversity and influence in the world of investments. Beyond its role as a family office, the group proudly champions the Artha Venture Fund, a pioneering early-stage microVC fund in India, and the renowned Artha Select Fund, which garnered attention in Bain & Company’s/IVCA’s 2023 Report on the Indian Venture Capital landscape.
The group’s investment philosophy revolves around its unwavering commitment to startups that demonstrate innovation and transformation. Its extensive portfolio, consisting of over 100 startups worldwide, showcases prominent names like Everest Fleet, Agnikul, LenDenClub, KarmaLife, and InstaAstro.
On Wednesday, officials from the Food and Drug Administration (FDA) took action against three branches of the renowned South Mumbai restaurant, Bademiya. They issued cease-and-desist orders to these outlets as they were discovered to be operating without the necessary licenses. As part of an ongoing crackdown, the FDA has already shuttered 28 eateries in Mumbai and Thane for failing to meet essential hygiene and safety requirements. This proactive enforcement effort is anticipated to continue for another month, potentially affecting additional restaurants.
A group of food safety officers conducted a surprise inspection at the Bademiya establishments, situated behind the Taj Palace Hotel near Gateway and Horniman Circle. They reportedly discovered that the outlets were serving food without the necessary licenses and were also in breach of various safety and hygiene regulations. Additionally, the inspection team observed the presence of cockroaches and rats within the restaurant premises. Surprisingly, despite receiving the notice, the restaurant remained open until late on Wednesday.
Shailesh Adhao, the FDA joint commissioner, has confirmed that the Bademiya outlets must remain closed until they adhere to the necessary regulations, and a fresh round of inspections is conducted. The iconic Bademiya, which has been delighting customers with its kebabs and rolls for 76 years, boasts an annual turnover exceeding one crore. The recent discovery of a rat in a meal served at Papa Pancho da Dhaba triggered a comprehensive inspection campaign across restaurants in both the city and the state since August. In addition to Papa Pancho da Dhaba, Mumbai Darbar located in Mahim and a chain of cloud kitchens operated by Hyperkitchen Foodtech Pvt. Ltd in Govandi have been instructed to cease operations due to non-compliance with regulations.
In Thane, a total of 25 eateries have received cease-and-desist orders, as confirmed by the department. Meanwhile, in Mumbai, nearly 70 restaurants underwent inspections, and a comprehensive survey was conducted at a total of 85 establishments in Thane. Adhao noted that a significant number of these eateries were found to be operating without the required licenses.
Additionally, a majority of these establishments were found to have multiple violations, ranging from the absence of water testing reports and medical records for their staff to lacking essential hygiene compliance measures. None of these eateries will be permitted to resume operations until they have rectified these compliance issues and undergone a new round of inspections.
Suresh Deshmukh, the joint commissioner of the Konkan division, explained that instead of issuing show cause notices, they opted to close down these establishments. This decision was made to safeguard public health, as dining at many of these places would have posed a significant risk to the public.
“There are seven to eight core compliances that we look for, which mainly include hygiene, mandatory water tests, medical reports, pest control, etc. Majority of violations are in these areas,” he said.
In the meantime, an FDA official mentioned that they are currently awaiting the test results for food samples gathered from Papa Pancho da Dhaba. One batch of these samples is undergoing examination at the BMC-run laboratory in Dadar, while another set is being assessed at the FDA’s own laboratory located in BKC.
Clensta, the personal care startup, has onboarded Ashish Mishra, former Senior Vice President at Mamaearth, as its Co-Founder and Chief Business Officer (CBO).
Mishra, an alumnus of IIM Calcutta, spearheaded Mamaearth’s general trade, modern trade, HORECA, institutional, international, alternate, and salon divisions. In his latest position at the D2C unicorn, he served as the head of offline and international operations, overseeing a team comprising over 1,500 individuals.
At Clensta, Mishra will lead the retail and online sales channels while also contributing to the expansion of the international, institutional, and alternate distribution channels.
“Ashish’s experience in this industry will be instrumental in driving strategic decisions at the company and will also contribute towards the Company’s growth capital raising initiatives,” said Clensta in a statement.
The incoming Chief Business Officer (CBO) of Clensta had resigned from his role at Mamaearth just a week ago, as indicated in a LinkedIn post he shared.
On his new role at the personal care brand, Mishra said, “I am excited to be given this opportunity to work closely with Puneet and his team. Clensta has already disrupted the personal care space with its customer-centric approach and innovative offerings and I am confident that together, we will scale this brand to greater heights in the years to come.”
Established in 2016 by Puneet Gupta, Clensta provides an array of personal-care items spanning hair care, skincare, body care, fragrance, and more. The startup asserts that its products are environmentally friendly and undergo research and development at IIT-Delhi.
“We are thrilled to have Ashish on board who will add tremendous value to Clensta with his experience as an industry leader for almost 20 years. His rich experience and proven track record of scaling D2C businesses make him an invaluable addition to our team,” Gupta added.
Clensta recently enlisted Bollywood actor Parineeti Chopra as an investor, collaborator, and brand ambassador.
In July, the D2C brand successfully raised $9 million in a funding round led by TradeCred and co-led by Shaikh Mohammad Ibrahim Abdulaziz Bin Ibrahim Almualla from the UAE Royal Family, with contributions from Ex-Im Bank of India, Mumbai Angels, Keiretsu, LetsVenture, and the O2 VC Fund.
Since its inception, Clensta has secured a total funding of INR 105 Crores, which includes the current funding round. The startup boasts a notable list of investors, including IAN & IAN Fund, IPV, VCats, Hem Securities, IIT Delhi, and US-AID.
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.
The Corny Club centers around cultivating enduring relationships with its customers.
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 specializes in acquiring or constructing primary hotels, followed by renovation, rebranding, and upgrading of the property, which it then manages. (Representative Image)
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’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.
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.
