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Beyond Snack unleashes a wave of flavor with new Banana Waves chips

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Banana Waves
Banana Waves

Beyond Snack, the pioneering Indian brand known for its Kerala banana chips, is embarking on a mission to revolutionize the world of retail snacking with a captivating and innovative product makeover. The brand is thrilled to present its newest offerings in the banana chips collection: Banana Waves, which come in two irresistible flavors – Cheesy Jalapeno and Sriracha Delight. These delectable options perfectly blend crunch and flavor, promising a truly memorable snacking adventure.

With a commitment to infuse a youthful vigor into a beloved classic, Banana Waves stand apart from traditional banana chips. According to Manas Madhu, Co-Founder of Beyond Snack, “In our market research, we identified the need to modernize traditional banana chips to align with the preferences of today’s younger consumers. Our goal was to reimagine this classic into something vibrant, thrilling, and irresistibly contemporary.”

Jyoti Rajguru, Co-Founder stated, “The transition from traditional snacks to Banana Waves has been fueled by the desire to craft a unique snacking experience tailored for a younger audience.” Distinctly different from regular banana chips, Banana Waves boast an innovative wave-like structure, promising a crunchier bite and a flavor profile enriched with continental undertones.”

In the Cheesy Jalapeno variation, the lushness of cheese seamlessly merges with the exhilarating heat of jalapeno, creating a harmonious blend that complements the innovative wavy structure flawlessly. On the other hand, the Sriracha Delight option orchestrates a captivating ensemble of robust and spicy flavors that gracefully dance upon the palate, further heightened by its exceptional texture.

Beyond Snack’s dedication to innovation extends to its packaging as well. The vibrant depiction of a colossal Banana octopus generating waves symbolizes the thrill within each bag. Gautam Raghuraman, Co-Founder of Beyond Snack emphasized, “Banana Waves Chips are not merely snacks; they are an embodiment of joy and exhilaration. We aimed to challenge conventions and create a product that ignites excitement from the very first bite.”

Banana Waves are now available at retail outlets in prominent Indian cities such as Mumbai, Pune, Bangalore, Hyderabad, and more. With a strong retail presence and nationwide online availability through renowned platforms like Amazon, Flipkart, Big Basket, Blinkit, Swiggy, and Zepto, consumers across India can embrace this wave-inspired snacking revolution. Both new variants are affordably priced at INR 50 for a 65g pack.

Gautam added, “Our objective was to redefine banana chips while preserving the wholesome goodness that our customers expect from us. The wave-like texture and the exotic flavors offer a more engaging experience that we believe our customers will cherish.”

With this release, Beyond Snack anticipates initiating a snacking transformation that resonates not only within India but also beyond its borders. Similar to all of Beyond Snack’s offerings, Banana Waves uphold the values of being non-GMO, devoid of cholesterol, and free from trans fats. They are meticulously crafted using the finest bananas and premium ingredients, ensuring a top-notch snacking experience.

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Spirits giant Bacardi acquires mezcal brand Ilegal, eyes rapid growth

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Illegal
Illegal (Representative Image)

Bacardi has completed its acquisition of the mezcal brand Ilegal, marking the culmination of a six-year journey since the spirits giant initially invested in the US-based company.

Ilegal, headquartered in Brooklyn, New York, was established by John Rexer after he commenced importing mezcal from Oaxaca, Mexico, to his bar in Antigua.

In 2017, Bacardi acquired an undisclosed minority interest in Ilegal. In addition to Bacardi, previous investors in Ilegal included the U.S.-based private-equity firm VMG Partners. Today, on September 11, Bacardi announced that it has become the exclusive proprietor of the Ilegal brand.

The agreement comes after rumors in February that the private-equity company L Catterton was engaged in talks to purchase Ilegal.

“We believe that Ilegal has the credentials to own and lead the super premium mezcal category at a global level. Ilegal perfectly complements our portfolio and bringing it into our business sets the brand up for even greater growth as mezcal captivates more and more consumers,” Bacardi vice chairman Barry Kabalkin said.

The mezcal distillery crafts three varieties: joven, reposado, and añejo.

Ilegal Founder Rexer said, “Success for Illegal goes beyond seeing more of our bottles on shelves; it’s about building our business the right way. We will always be committed to artisanal production, the Oaxacan community, and our core values. Being a part of Bacardi will bring Ilegal to a larger audience while maintaining our commitment to sustainability and growing the business responsibly.”

The increasing demand for mezcal has ignited merger and acquisition interest in the industry. Over the past few years, Pernod Ricard acquired Del Maguey, Diageo acquired Casa UM, the parent company of Mezcal Unión, and Campari Group acquired Montelobos.

In October last year, Pernod Ricard made a significant move by purchasing a majority stake in Código 1530, a distillery renowned for its Tequila and mezcal offerings.

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BrewDog launches premium RTD Wonderland Cocktails with unique shake-to-enhance feature

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Wonderland Cocktails
Wonderland Cocktails

BrewDog Distilling Co. is introducing Wonderland Cocktails, an exciting new lineup featuring five ready-to-drink (RTD) cocktails that promise the quality of a bar-made experience.

The newly introduced drinks encompass a selection of Classic Mojito, Classic Margarita, Espresso Martini, Cantarito Paloma, and Passionfruit Martini.

This collection incorporates an inventive aspect—each can contains varying liquid volumes, enabling consumers to shake particular cocktails for enhanced aeration and a smoother, more textured serving experience. These cocktails are crafted using BrewDog Distilling Co.’s recently introduced spirits: LoneWolf gin, Abstrakt vodka, DUO rum, and Casa Rayos tequila.

Wonderland Cocktails feature alcohol by volume (ABV) levels spanning from 10% to 14%, distinguishing them as premium, high-strength options within the market, all while maintaining the “bar-grade quality” standard. These cans are meticulously designed for at-home enjoyment, providing a top-tier cocktail experience that doesn’t compromise on quality.

Steven Kersley, director of BrewDog Distilling Co, said, “Wonderland Cocktails have arrived, and we’re going to share with you a collection of sumptuous cocktails which have been created with one mission in mind – to bring bar quality cocktails to you, to enjoy whenever the occasion demands a delicious drink”.

He continued, “Using our award-winning spirits alongside a selection of hand-picked ingredients we’ve crafted the Wonderland range of five classic cocktails. We’ve made sure that these cocktails taste unlike any other canned cocktail you’ve experienced before and that’s why our cans are slightly oversized. We’ve left just enough space for you to shake your cocktail, creating a silky flavour texture just like it would be in a bar.”

Classic Mojito and Cantarito Paloma have 10% ABV, whilst the Classic Margarita, Espresso Martini and Passionfruit Martini cans have 14% ABV.

Wonderland Cocktails will be available from Morrisons supermarkets from 16 October for an RRP of £3.90 per can.

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Hygiene brand Pee Safe raises $3 Million in ongoing Series B round

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Pee Safe
Pee Safe exports its products to 20 countries across five continents.

Hygiene and wellness company Pee Safe has successfully secured $3 million in funding for its ongoing Series B round, marking significant progress toward its total fundraising target of $6 million.

The funding for this round was spearheaded by Natco Pharma Limited, a prominent pharmaceutical company. Supporting their efforts were Rainmatter Health, backed by Nithin Kamath and Nikhil Kamath, the Founders of Zerodha, alongside participation from Alkemi Growth Capital, an existing investor.

In June 2021, the Gurugram-based company successfully secured approximately $3 million in its pre-Series B round. According to a press release by Pee Safe, these new funds will be deployed to support the company’s expansion efforts within India, facilitate overseas growth, and bolster marketing and awareness initiatives.

Founded in 2013 by Vikas Bagaria and Srijana Bagaria, Pee Safe has transformed itself into a prominent brand within the personal hygiene and fast-moving consumer goods (FMCG) sector. Over the last six years, the company has expanded its product portfolio to cover a wide array of personal hygiene categories, catering to the requirements of individuals from puberty through to menopause.

Vikas Bagaria & Srijana Bagaria

At present, Pee Safe is accessible through an extensive network of over 15,000 physical retail outlets spread across more than 70 cities in India. Additionally, the brand maintains a robust online presence on leading e-commerce platforms. According to the company, it also exports its products to 20 countries across five continents.

Although Pee Safe has not yet filed its FY23 results, the company asserts that it has maintained an impressive compound annual growth rate (CAGR) of 100% over the past five years.

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McDonald’s and Coca-Cola team up to offer F1 Singapore Grand Prix tickets

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SnackTeam
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Grand Prix promotion

McDonald’s Singapore and Coca-Cola Singapore have joined forces to introduce the Sharing Grand Prix promotion, offering a chance to win tickets for the F1 Singapore Grand Prix.

Furthermore, an additional perk awaits as 10 fortunate customers could secure McDonald’s gift certificates valued at SG$100 each.

The competition intends to generate excitement for the event while honoring the sense of togetherness and the excitement of Formula 1 racing. To participate in the contest, customers will be required to buy the Happy Sharing Box Chicken McCrispy® Bundle.

Customers are additionally required to upload their receipts through a designated website, where they will earn 1 point for each submission. Notably, drive-thru orders will reward customers with 2 points per submission. At the conclusion of the contest submission period, the participant with the highest cumulative points will claim thrilling prizes in anticipation of the 2023 F1 Singapore Grand Prix.

The top prize consists of a pair of Promenade Grand Stand tickets valued at SG$3,000 for the exclusive experience of watching the F1 Singapore Grand Prix. The second prize offers a pair of Grand Prix tickets worth SG$1,500.

The contest will run until September 13, 2023.

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Kidbea explores acquisition of renowned cloth diaper brand to expand sustainability portfolio

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SnackTeam
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Kidbea
Kidbea (Representative Image)

Kidbea, a prominent brand in sustainable bamboo-based children’s clothing, is advancing significantly toward a more environmentally friendly future. The company has recently revealed its intention to acquire a well-known cloth diaper brand, marking a strategic move that reaffirms Kidbea’s strong dedication to eco-conscious childcare solutions. This acquisition also represents a remarkable expansion of Kidbea’s current range of cloth diaper products.

Kidbea has gained acclaim for its high-quality bamboo-based children’s clothing, known for its exceptional combination of comfort and environmental conscientiousness. As Kidbea prepares to acquire this cloth diaper brand, it is steadfastly working to reinforce its commitment to furnishing parents with a comprehensive array of sustainable parenting options, which now include cloth diapers.

“At Kidbea, our mission has always transcended clothing; it’s about shaping a future where children thrive while we champion the planet,” emphasized Mohammad Hussain, CEO, and Co-Founder Kidbea “This move reaffirms our commitment to offering parents diverse and sustainable choices.”

“Our mission transcends threads and textiles; it’s about threading together a brighter, greener future for every child,” added Aman Kumar Mahto, CPO and Co-Founder kidbea.

The cloth diaper brand slated for acquisition is renowned for its pioneering advancements in cloth diaper technology, providing outstanding absorbency, comfort, and sustainability, making it a trusted choice for environmentally conscious parents. Kidbea’s acquisition will not only broaden the choices accessible to parents but also enable seamless integration with its existing line of bamboo-based products, thereby elevating the overall sustainability and comfort of its product offerings.

Kidbea’s unwavering commitment to leading the way in sustainable parenting options is clearly demonstrated through this acquisition. It signifies a profound dedication to nurturing a healthier, environmentally conscious future for children. As Kidbea embraces the addition of the new cloth diaper brand to its family, it takes an exceptional stride towards establishing a more environmentally friendly and eco-conscious landscape for parenting.

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Marico’s COO Sanjay Mishra resigns, leadership changes announced

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Sanjay Mishra
Sanjay Mishra

On Monday, Marico, a leading player in the FMCG (Fast-Moving Consumer Goods) industry, announced that Sanjay Mishra, currently serving as the Chief Operating Officer for the India business and CEO of the new business division, will be resigning from his role. Mishra’s final day of work with the company will be December 15th.

Vaibhav Bhanchawat, currently serving as the COO for South East Asia and South Africa, is set to assume the role of COO for the India business starting from October 1. In his new capacity, Bhanchawat will oversee the India business’s sales, manufacturing, supply chain, and food division.

In 2020, he assumed the role of Executive Vice President and Business Head for South-East Asia. During his tenure, he played a pivotal role in revitalizing Marico’s South East Asia (SEA) operations through a highly effective Go-To-Market Model. The company, as reported in a stock exchange filing, credited him with spearheading essential transformation initiatives and expanding the product range in the region.

Additionally, Ashish Goupal, currently serving as the COO for Marico Bangladesh, MENA (Middle East and North Africa), and New Country Development, will be appointed as the CEO of the international business division. In this new role, he will be responsible for overseeing all international markets within the company, which encompasses South East Asia and South Africa, among others.

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Nykaa anticipates stronger Q2 Performance with fashion sector on the rise

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Nykaa
Nykaa (Representative Image)

Nykaa, the beauty and fashion retailer, anticipates a stronger performance in the current quarter compared to the first quarter. This optimism is driven by an improved consumer outlook, particularly in the fashion sector, which exhibited signs of recovery in July, primarily due to robust end-of-season sales.

During a recent discussion at the Jefferies Asia Forum, the leadership team of FSN E-Commerce, the company behind Nykaa, approached the subject of growth stabilization in the September quarter with a blend of caution and optimism. In a report, Jefferies remarked that the management, including Anchit Nayar, the head of beauty and personal care, P Ganesh, the chief financial officer, and Namrata Penta from the mergers and acquisitions team, conveyed an upbeat perspective.

Jefferies expressed the view that an increased proportion of in-house brands and a focus on premiumization would contribute to enhancing the retailer’s gross margin. Furthermore, the losses incurred from the fashion and B2B segments are expected to decrease and transition into profitability within a span of 3-4 years.

During the June quarter, the retailer delivered a lackluster performance, largely attributed to sluggish sales within the fashion segment. Jefferies also noted that in the initial quarter, the fashion industry as a whole experienced feeble growth, partly influenced by cautious consumer sentiments and a preference for offline shopping over online channels.

In the first quarter of FY24, the company’s net profit declined by 27.4 percent to INR 3.3 crore, while its revenue, although 24 percent higher at INR 1422 crore, fell short of analyst projections.

Nonetheless, the beauty and personal care (BPC) segment displayed notable strength, as the company emphasized offline sales channels, recognizing the significance of physical presence and experiential factors in this sector. During the June quarter, the company’s BPC segment witnessed a 24 percent increase in gross merchandise value, surpassing industry growth rates. In contrast to the country’s per capita spending on BPC products, which stands at $15, Nykaa’s customers, on average, allocate $80. The company attributes this higher spending to income levels, as there is a direct correlation between income and expenditure on BPC items. With the potential for income levels to rise, this segment holds promising opportunities for future growth.

In the fashion segment as well, Nykaa’s customers have a per capita spending rate of $130, which significantly surpasses the industry average of $54.

While e-commerce penetration in India stands at 19 percent on a broad scale, the share of BPC and fashion within this market is comparatively lower, signifying substantial growth prospects.

Jefferies anticipates that Nykaa will continue to experience hyper-growth in the medium term, driven by an increasing online presence in the beauty and personal care (BPC) and fashion sectors.

As of March 2023, the company boasted 154 stores, a customer base of 2.4 crore, and offered products from more than 6,000 brands.

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Popeyes expands its Indian footprint with a new store in TC Palya, Bengaluru

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Popeyes store, TC Palya, Bengaluru
Popeyes store, TC Palya, Bengaluru

Popeyes, the American fast-food chain, recently inaugurated its newest establishment in TC Palya, Bengaluru, making it the 12th out of its 19 stores in the city. A company spokesperson made the exciting announcement via social media on Saturday.

“Our 19th Popeyes store opened its doors today at TC Palya, Bangalore!!!” Ivan Brandon Keith D’Souza, Training Head – Popeyes at Jubilant FoodWorks Ltd. wrote on LinkedIn.

The first Popeyes store in the country also made its debut in Bengaluru in January 2022.

In July, Popeyes made its debut in Hyderabad with the opening of a store located at Asian Satyam Mall in Amarpeet.

The CEO, Joshua Kobza, emphasized that India plays a pivotal role in the US-based fried chicken brand’s long-term growth strategy. Under the ownership of Restaurant Brands International Inc, the brand aims to establish 250 Popeyes stores in the country over the next four to five years through its Indian franchise partner, Jubilant FoodWorks Ltd (JFL).

Established by Al Copeland in 1972 in New Orleans, Louisiana, the American fast-food chain Popeyes has expanded its presence worldwide. Currently, there are over 3,700 Popeyes outlets across the globe.

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LuLu Group to establish two of India’s largest shopping malls in Ahmedabad and Chennai

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LuLu Mall
LuLu Mall (Representative Image)

On Monday, Yusuff Ali, the Chairman and Managing Director of LuLu Group International, announced that his company plans to establish two expansive shopping malls in India, specifically in Ahmedabad and Chennai.

Ali said, “We are going to construct one of the largest shopping malls in Ahmedabad and Chennai and we are opening our shopping mall in Hyderabad end of this month. Also we are going to different states for shopping malls and food processing.”

Hyderabad will mark the sixth city, joining the ranks of Kochi, Thiruvananthapuram, Bengaluru, Lucknow, and Coimbatore, where the group has established its shopping mall presence.

Based in Abu Dhabi, UAE, Lulu Group has gained a reputation as an influential pioneer in the retail sector across the Middle East and North Africa region. With a presence spanning more than 250 hypermarkets and supermarkets, the group has earned widespread acclaim among discerning shoppers in the GCC, Egypt, India, Indonesia, and Malaysia.

Speaking on the sidelines of an event where over two dozen Memoranda of Understanding were signed between Indian and Saudi Arabian companies, covering a wide range of sectors including Information Technology, agriculture, pharmaceuticals, petrochemicals, and human resources, among others, he highlighted the deep-rooted historical relationship between India and Saudi Arabia.

“A lot of liberalization happened and ease of doing business happened… A lot of restrictions are removed by the Prime Minister and the government. We are very thankful to him,” Ali said.

The MoUs were signed as part of the State visit by Saudi Arabian Prime Minister and Crown Prince Mohammed bin Salman Al Saud, who arrived in Delhi for a three-day visit on Saturday. His visit to Delhi followed his participation in the G20 Summit, and he extended his stay in India for the subsequent state visit.

“So this historical visit has further strengthened the bilateral commercial and the leadership relation,” the Lulu Group chief said.

On India’s G20 presidency, Ali said, “India is a global leader and we should congratulate our prime minister Narendra Modi ji for his hard work and bringing all the leaders here. And India’s tradition, India’s culture also showed to the great leaders of different countries.”

The Lulu Group boasts a workforce of over 65,000 individuals hailing from 42 different nations and achieves a global annual turnover of USD 8 billion.

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