Scotch maker Chivas Brothers reports impressive 27% growth in India during FY23

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September 1, 2023

Chivas Regal Whisky (Representative Image)

Chivas Brothers, a prominent producer of Scotch whiskey, achieved a remarkable 27 percent increase in sales during the fiscal year 2023 within the Indian market. This growth was driven by the introduction of new Scotch enthusiasts and the elevation of the market’s premium offerings. According to Chairman and CEO Jean Etienne Gourgues, India emerged as one of the company’s most significant expanding markets in terms of value for the fiscal year 2023. Chivas Brothers adheres to a financial year that spans from July to June.

Chivas Brothers is a subsidiary of the French beverage giant Pernod Ricard. The company is engaged in the production of both single malt and blended Scotch whisky labels, which encompass well-known brands like Chivas Regal, Ballantine’s, Royal Salute, and The Glenlivet.

“It is a big growth. It is directly driven by the value and the organisation. Overall group’s performance in India is still high. It plus 13 per cent. Scotch whisky, the higher part of that is growing faster. Brands such as Glenlivet are enjoying very strong growth. The higher the brand, the stronger the growth,” Gourgues told PTI in an interview after the results.

Furthermore, he also mentioned that there exists a slight inflationary factor in India, although it is currently not of significant magnitude.

India falls within the Asia region, where Chivas Brothers experienced a strong growth of 21 percent during the fiscal year 2023. The company’s financial year follows the period from July to June.

“The Asia region has been particularly robust, with 21 per cent growth in FY23, and the number one contributor to growth overall. India (+27%), South Korea (+19%), Japan (+28%) and Greater China (+7%) have also seen exceptionally strong performances and are driving demand with new Scotch audiences,” said an earning statement from Chivas Brothers.

When asked about the brand-wise performance in the Indian market, Gourgues said, “All the brands have enjoyed double-digit growth In India.”

“Most of our brands in between Chivas and Ballantine’s performed both at the same level in India. It’s again very much value-driven, more than volume-driven,” he added.

The Luxury Blended Scotch Whisky from Chivas Brothers achieved triple-digit growth in India, highlighting the increasing desire for top-quality whiskey in the country.

Gourgues mentioned that the trend of premiumization continues within the whiskey market, accompanied by ongoing innovations.

“I think the growth driver was the overall trend of premiumisation, which means that consumers are purchasing a bit, sometimes a bit less but the higher quality and that has been the strong underlying factor for the growth.”

Chivas Brothers intends to introduce further innovations for its products in India over the upcoming year. However, specific details regarding these plans were not disclosed.

“It is a strategic market for us. So it’s definitely a market where when we do have innovation on Ballantine’s on Chivas on Royal salute, we will bring it to India,” he said

When asked about the short-term and mid-term outlook for the Indian market, Gourgues said, “It is very positive for the future. India is the largest market in the world in terms of whiskey consumption. So there is a huge consumer base of consumers of the IMFL.”

Now consumers want to trade up for the special occasion and even for the daily occasion as well, he said.

“And I think with this premiumisation trend, which has been very clearly demonstrated through the results, the appetite is very strong to go for a more premium product and definitely Scotch whiskey and our brands are very well positioned to capture.”

Over all Chivas Brothers reported the “strongest financial performance” in a decade with 17 per cent growth in global sales.

“Chivas Regal celebrated global growth of +25%, with impressive performance in markets such as India and Japan,” it added.

Kerala’s liquor sales skyrocket during Onam, hitting INR 759 Crore record

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September 1, 2023

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The Kerala State Beverages Corporation (KSBC) this year registered a record liquor sale of around INR 759 crore between August 21-30 amidst the Onam festival.

According to KSBC CMD Yogesh Gupta, this year’s liquor sales were 8.5% higher than last year’s figure of INR 700 crore during the same period.

“Between August 21 and 30, liquor worth around INR 759 crore was sold by KSBC. Last year it was INR 700 crore,” he noted.

On Uthradom (on the eve of Thiruvonam day), KSBC, also known as Bevco, sold alcohol worth INR 116.19 crore which was also more than last year’s INR 112.07 crore on the same day.

“Around 6 lakh customers were served by Bevco shops on Uthradom day (August 28). More than 2,000 customers per shop on an average on a single day,” Gupta said.

While there was no liquor sales on Thiruvonam — on August 29 — the next day saw sales of around INR 93 crore, he added. There are around 301 government-run liquor outlets across the State.

Rakshabandhan gets sweeter: Bikano brings love and laughter to ‘Sweet Home’ orphanage

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August 31, 2023

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Sweet Home orphanage — The occasion witnessed not just the sharing of presents and confections, but also the ceremonial tying of rakhi threads.

On this Rakshabandhan occasion, Bikano, a well-known FMCG food brand with strong connections to the cultural heritage of Bikaner, Rajasthan, took its heartfelt celebration of sibling affection to the kids at the “Sweet Home” orphanage in Najafgarh. As an extension of its ongoing #PyarkaMeethaBandhan campaign, the brand’s recent initiative strives to bring happiness, forge significant relationships, and promote adoption as a meaningful avenue to broaden the scope of family bonds.

Embracing the essence of Rakshabandhan, a festival that symbolizes the lasting connection between siblings, Bikano embarked on a touching journey by visiting the “Sweet Home” orphanage. The children inhabiting the home were granted a day filled with delight, celebration, and companionship. The occasion witnessed not just the sharing of presents and confections, but also the ceremonial tying of rakhi threads, representing a fresh tie of affection and safeguarding.

Manish Aggarwal, Director of Bikano, Bikanervala Foods Pvt Ltd, said, “Rakshabandhan is a festival that beautifully encapsulates the essence of love, companionship, and protection. As part of our ongoing #PyarkaMeethaBandhan campaign, we believe in extending this celebration to every corner of society, especially to those who may yearn for the warmth of sibling love. Our visit to ‘Sweet Home’ was an enriching experience, and we are humbled to have shared the joy of Rakshabandhan with these wonderful children.”

Kush Aggarwal, Head of marketing at Bikano said, “Love transcends blood relations, and the essence of Rakshabandhan is universal. With our campaign, we want to inspire not only the spirit of festivity but also highlight the potential of adoption as a means to create unbreakable bonds. Every child deserves love, care, and the joy of sibling companionship.”

Launched a year ago, the #PyarkaMeethaBandhan campaign strives to deeply connect with individuals and ignite significant bonds, all while spotlighting adoption as a deeply compassionate gesture. The campaign’s most recent chapter presents an emotive story wherein a young boy’s desire for a sister to tie him a rakhi is realized through adoption, underscoring the notion that love transcends all barriers and constraints.

Amidst the nationwide festive spirit of Rakshabandhan, Bikano’s dedication to nurturing affection, connections, and empathy strikes a profound chord. The brand’s presence at the “Sweet Home” orphanage and the ongoing endeavors of the #PyarkaMeethaBandhan campaign stand as a testament to the potent force of love and togetherness that unites us all.

Bombay Sapphire unveils new gin infused with Murcian Fino lemons

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August 31, 2023

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Bombay Sapphire Cru Murcian Lemon stands as a fresh addition to the esteemed premium gin brand’s range. This particular rendition serves as a tribute to the captivating Spanish region of Murcia, famed for its exquisite citrus harvests. Furthermore, it accentuates the robust bonds that Bombay Sapphire shares with its devoted suppliers and diligent farmers.

Central to this extraordinary gin is the very essence of Murcian Fino lemons, imbuing the drink with a dynamic and sophisticated range of flavors.

The lively zest is skillfully accompanied by the addition of mandarins and honeyed Navel oranges, crafting a harmonious fusion of bittersweet sensations that captivates gin aficionados across the globe.

The newest creation from Bombay Sapphire skillfully merges meticulously chosen botanicals, with Murcian citrus taking a prominent position in the blend.

This meticulous curation leads to a harmoniously balanced flavor profile, establishing a unique citrus base for a variety of creative cocktails. These libations span from timeless favorites like the Gin & Tonic to sophisticated creations like the French 75.

Derived from a singular late harvest, these fully matured Murcian Fino lemons soak up the Mediterranean sun, undergoing their ripening process throughout the winter season.

Similar to their entire gin range, the subtle intricacies of the botanicals are unleashed and subsequently delicately captured using the distinctive Vapour Infusion technique at the renowned Bombay Sapphire hub, Laverstoke Mill, nestled in Hampshire.

“We have meticulously curated every aspect of this expression, from the indigenously sourced botanicals to our environmentally conscious production processes. Premier Cru is a symphony of flavours meticulously composed to delight the senses. From the moment the Fino Lemons are handpicked and hand-peeled to the final pour, every step of Bombay Sapphire Premier Cru’s creation is a tribute to craftsmanship.” said, Adtnu Tiwari, Sr. Brand Manager, Premium White Spirits, Bacardi India.

Remaining true to the ethos of London Dry Gin, this iteration steadfastly avoids artificial flavors or essences. Its complete range of flavors emerges exclusively from the botanicals and the distillation process, capturing the most genuine and remarkable taste that nature has granted.

Demy Café & Bar redefines brunch with its delectable new menu

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August 31, 2023

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Demy Café & Bar, widely acclaimed for its steadfast commitment to culinary perfection and imaginative tastes, proudly introduces its newest culinary marvel – an enchanting and varied Brunch Menu.

Located in the heart of Mumbai’s Kamala Mills, Demy Café & Bar shines as a distinguished Italian and European culinary haven. Infused with a distinctive boho-chic ambiance, the entire space exudes an air of relaxed sophistication, crafting the ideal setting for unhurried conversations, shared moments, and a delightful brunch experience.

Dhaval Udeshi, a highly esteemed figure in India’s restaurant and food industry and an esteemed partner at Demy Café & Bar, states that “The new Brunch menu is a testament to our constant pursuit of delighting our patrons with fresh and exciting dining experiences. Brunch, being a cherished tradition for many, presented us with the perfect opportunity to showcase our creativity and passion for food. This menu is our way of inviting patrons to linger over delectable bites, and redefine their mid-morning dining escapades.”

Catering to both vegetarians and non-vegetarians, the brunch menu extends an invitation to explore a diverse range of dishes hailing from Indian, Asian, and European cuisines. All offered at a fixed price, each dish comes complete with a carefully curated beverage pairing. Begin your culinary journey with the Chef’s Soup of the Day or indulge in the vibrant salad bar, featuring options like the Avo Caesar Salad and the California Love Salad.

For those seeking lighter fare, the menu presents an assortment of small plates, including the Avocado Toast, Demy Bruschetta Board, Thai Sweet Chilli Tofu, Shrommami Sliders, Delhi-style Paneer Tikka, and the cherished Butter Chicken Naan Bombs. Dive into the flavors of dim sum and bao, with tempting choices like the Korean Tofu Bao and the Spicy Chicken Dimsum.

The pizza section showcases culinary gems like the Mumbai Masala Pizza, Pizza Bianca, and Veg Farmers Delight Pizza. Meanwhile, the Large Plates selection tantalizes with offerings such as the Asian Wok Box, Gnocchi With Basil Pesto, Rigatoni Red Pesto, Paneer Tikka Biryani, and Chicken Tikka Biryani. To complement these delectable dishes, an assortment of Indian Breads is available, perfectly suited for pairing.

To cap off this extraordinary brunch experience, the menu boasts irresistible desserts, including the Nutella San Sebastian Cheesecake and the vegan Ganache Cake.

“As a film producer, I’ve always been captivated by the art of storytelling, and our Brunch Menu tells a story through every plate. It’s about the thrill of discovery, the joy of sharing, and the enchantment of savouring each bite in the company of friends and family. This menu isn’t just a selection of dishes; it’s an ode to the diversity of culinary traditions that inspire us,” said Ricky Bedi, a thriving entrepreneur, accomplished film producer, and Co-Owner of Demy Café & Bar.

Zomato shares maintain momentum, gain 1% following SVF block deal

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August 31, 2023

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Shares of the foodtech giant Zomato extended their 5% rally from the prior day as the morning trade on Thursday (August 31) saw a 1% price increase. This uptick came after SVF Growth offloaded 10 crore equity shares in the company.

At 9:26 AM on the National Stock Exchange, Zomato shares were being traded at INR 100.7. Despite the initial positive movement, the company’s share price declined to INR 99.45 by 12:27 PM, just a bit below the closing price of the previous Wednesday.

To recap, SVF Growth concluded a bulk deal by divesting a 1.16% equity stake in Zomato at INR 94.7 per share on August 30th. This move led to earnings of INR 947 crore for the affiliate of SoftBank. In terms of its ownership, SVF Growth held 28.71 crore shares, constituting a 3.35% stake in the company as of June 2023.

As a result of Zomato’s acquisition of the quick commerce startup Blinkit in August of the previous year, SoftBank acquired a share in the company. Following the conclusion of the one-year lock-in period, the prominent Japanese investment entity commenced its withdrawal from the startup. Current indications from reports indicate that the Japanese technology giant is pursuing a full divestment from the foodtech giant.

Buyers in the transaction included Goldman Sachs Investments, Copthall Mauritius Investment Fund, BNP Paribas Arbitrage, Franklin Templeton Mutual Fund, Axis Mutual Fund, Kotak Mahindra Fund, Morgan Stanley Asia Singapore, and various other entities.

Throughout this year, the publicly listed food delivery behemoth has maintained a consistent upward trend. From the beginning of 2023, Zomato’s stock price has surged by 65% on the stock exchanges, surpassing the BSE and the NSE by a significant margin. The company’s shares recently achieved a fresh 52-week peak at INR 102.85, with frequent trading above the INR 100 milestone.

In the April-June quarter, the foodtech company also recorded a profit of INR 2 crore, in contrast to a loss of INR 250 crore during the corresponding period in the previous year. Additionally, there was a notable 70% year-on-year (YoY) growth in revenue, which reached INR 2,416 crore in the same timeframe.

Shifting gears to different developments, Tiger Global Management, another overseas investor in Zomato, divested its complete ownership stake of 1.44% in the company for INR 1,123.85 crore on August 28th. The shares were sold by Internet Fund III Pte Ltd through an open market transaction.

Lately, the foodtech firm has initiated the implementation of a platform fee for its customers, playing a pivotal role in bolstering its profitability. Zomato is imposing a fee ranging from INR 2 to 3 per order, contingent upon the specific city. This platform fee has been introduced initially to customers in Tier II and III towns.

After INR 100 Crore profit, SoftBank eyes full exit from Zomato

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August 31, 2023

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Japanese investor SoftBank is preparing to divest its entire holdings in the foodtech giant Zomato over the upcoming months, utilizing open market transactions. This strategic choice comes in the wake of SoftBank’s successful move earlier this week, where it reaped profits exceeding INR 100 Crore through the partial sale of its stake in the company.

According to a report by Moneycontrol, SoftBank is currently in possession of an additional 2.18% stake in Zomato, and the company is actively exploring the option of divesting this particular stake using block deals within the coming months.

At an average base price of INR 94.70 per share, SoftBank, the Japanese investor, successfully sold 10 Crore shares of Zomato. This stands in contrast to their initial acquisition cost of INR 83-85 per share. As a consequence, the per-share gains ranged between INR 10-12.

This move comes after the lock-in period for Blinkit investors concluded. These investors had obtained Zomato shares as a result of the foodtech giant’s acquisition of the quick commerce player. Notably, SoftBank, an investor in Blinkit, acquired a 3.35% stake in Zomato subsequent to the acquisition in the previous year.

As Zomato wasn’t SoftBank’s initial investment, the investor is inclined to not hold onto the stake in the company.

“For SoftBank, Zomato is just a monetary transaction, unlike Delhivery, Paytm or PB Fintech, which it entered as a direct strategic investor. So, it is looking at the deal only from a monetary perspective. It was waiting for Zomato to turn into a profitable bet and now that it has, it will look to exit the company fully as and when it gets opportunities,” the report added, quoting a source.

In August of the previous year, Zomato completed the acquisition of the quick-commerce player for INR 4,447 Crores. The shares obtained were subjected to a 12-month lock-in period. Apart from SoftBank, two additional VC firms, namely Peak XV and Tiger Global, also acquired Zomato shares through the Blinkit acquisition.

On Monday, investment firm Tiger Global concluded its involvement with Zomato by divesting 12.24 Crore shares, representing a 1.44% stake, through open market transactions. The shares were sold by Tiger Global’s Internet Fund III Pte Ltd in several segments, achieving an average share price of INR 91.01. The total value of these transactions, as per BSE bulk deal data, amounted to INR 1,123.84 Crores.

In the first quarter of the fiscal year 2023-24, Zomato recorded a consolidated profit after tax (PAT) of INR 2 Crore, marking a significant improvement from the net loss of INR 186 Crore reported in the same quarter of the previous fiscal year.

In the first quarter of the fiscal year 2023-24, the gross order value (GOV) of Zomato’s food delivery business amounted to INR 7,318 Crore, demonstrating growth compared to the INR 6,425 Crore recorded in the corresponding quarter of the previous fiscal year.

Sid’s Farm announces marginal price revision for premium A2 Buffalo Milk

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August 31, 2023

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Sid’s Farm, a premium D2C dairy brand based in Telangana, has announced a marginal revision in the retail price of its A2 Buffalo Milk. The amended pricing, set at INR 60 per 500 ml pouch, is slated to take effect on August 31, 2023, across the company’s app and other distribution channels. This adjustment will exclusively impact supplies starting from September 1, and it’s important to note that the cost of other product variants, as well as the cow milk offerings by the company, will remain unaffected by this decision.

The pricing of A2 Buffalo milk has been facing prolonged strain owing to the inadequate availability of buffalo milk, and there are no immediate indications of this pressure easing. Sid’s Farm has noticed a significant rise in the expenses associated with raw buffalo milk, partly due to the stringent quality criteria maintained by the company throughout the stages of milk sourcing and processing. Despite the considerable escalation in procurement costs, Sid’s Farm remains committed to restricting the upward adjustment of prices to the lowest feasible extent, all in consideration of its esteemed customers.

Dr. Kishore Indukuri, Founder of Sid’s Farm, acknowledged the prevailing inflationary challenges faced by the dairy industry this year. He said, ”While we empathize fully with our customers considering the little additional financial burden, we are certain that our quality conscious customers would understand our predicament and continue to support us in our continued efforts to supply only real unadulterated antibiotic-free milk to them. It may not be one of the best times for the industry considering the continued surges in raw milk prices, but we will certainly keep our standards intact with the several thousand tests that we conduct every day on our milk.”

A2 Buffalo milk boasts an abundance of A2 beta-casein protein and is devoid of A1 beta-casein protein, a combination that amplifies its nutritional benefits. Sid’s Farm’s A2 Buffalo Milk is endowed with elevated proportions of protein, fat, essential nutrients, and lactose. These attributes contribute to a sense of satiety, facilitating weight management and regulation of body fat.

Since 2016, Sid’s Farm has been at the forefront of championing pure and healthy milk and dairy products. The company ensures the highest quality of milk and dairy items through stringent regulations and rigorous testing protocols. To counteract the possibility of micro-level adulteration, detailed assessments for substances such as urea, sugar, glucose, starch, peroxide, baking soda, caustic soda, formalin, melamine, and three classes of antibiotics are conducted at every container/can level.

Moreover, Sid’s Farm maintains strict monitoring of milk’s fat and solids-not-fat (SNF) content, using the Methylene Blue Dye Reduction Test – a recognized gold standard for evaluating the quality of raw milk.

With a cutting-edge laboratory in place, the company performs more than 6,500 daily tests to guarantee that its clientele exclusively receives completely pure, untainted milk and dairy offerings. The company’s unwavering dedication to excellence is clearly reflected in its scrupulous focus on particulars and unending efforts to establish unparalleled standards within the sector.

Coca-Cola Africa appoints Sergio Vieira as new VP of Franchise Operations

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August 31, 2023

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Coca-Cola Africa has announced the appointment of Sergio Vieira as the new Vice President of Franchise Operations, South Africa. Joining the ranks at the Coca-Cola Africa Operating Unit (AOU) in Johannesburg, Vieira is set to bring his expertise and leadership to this pivotal role.

Vieira takes over from Phillipine Mtikitiki, who now serves as the Vice President of Franchise Operations, responsible for Italy and Albania.

Vieira is tasked with refining the company’s strategic orientation, fostering business growth and advancement, enhancing partnerships, and forging new connections throughout South Africa, Eswatini, and Lesotho.

Luisa Ortega, Africa Operating Unit president at Coca-Cola Africa, said, “Sergio has a critical role in creating a highly dynamic environment that drives high performance and in building the next generation of leaders. His experience and expertise are invaluable as we continue to grow and expand our operations, and we look forward to the contributions he will make to our company.”

With a career spanning more than two decades within the Coca-Cola system, Vieira became a part of Brazil’s bottler commercial team back in 2002. Transitioning in 2016, he assumed the position of Marketing Director at Coca-Cola Hellenic, Nigeria. One of his notable accomplishments includes receiving accolades for the top Growth Project in EMEA and the most outstanding Revenue Growth Management project on a global scale.

Vieira said, “I am thrilled with the appointment and with the move to South Africa with my family. The business in South Africa supports a strong brand portfolio, has a talented team, and an enviable reputation as a leader in FMCG. Coca-Cola in South Africa is well-positioned and has achieved significant strides, such as being certified as a top employer in the food and beverage category by the Top Employer Institute, strategically positioning it for far greater success in the future.”

Vieira holds a business bachelor’s degree from Brazil’s Universidade Federal de Pernambuco, with a focus on finance, marketing, and innovation.

SoSweet expands business portfolio, set to provide wholesale services to retailers

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August 31, 2023

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SoSweet, a confectionery retailer, has announced its plans to launch a wholesale venture. This initiative will grant convenience stores the opportunity to procure a wide array of products imported from both Europe and the Americas.

Presently, SoSweet runs 10 retail outlets catering to the public in the southwest of England, and there are intentions to establish additional locations within the upcoming year. The company’s achievements have been propelled by a diverse collection of over 250 items, including pick’n’mix, novelty, and international products. This inventory encompasses imports from the USA, Mexico, Turkey, and Spain.

According to SoSweet’s director, George Robinson, the achievements of the company have encouraged them to initiate a wholesale division. This new venture will extend the same products found in their retail stores to other retailers, all at “competitive prices”.

Robinson said, “Whether it’s convenience stores or other sweet shops, we’ve had thousands of enquiries that have built up from people wanting to purchase from us in a business-to-business format.

“It’s something in the pipeline. We’ve got a wholesale website built and ready to go. We’ve also got plans to offer an in-person wholesale shopping experience in North Devon, where we’re based, as there’s nothing else locally that can offer that. The opportunity is coming, but we want to make sure we can do it properly first.”

Minimum delivery terms and geographical coverage are still to be determined. Robinson said: “We’re retailers ourselves, and we know how to market and sell the products that customers will be offering. We’re already working with a logistics company, so we can offer a better service delivering to retailers rather than relying on standard couriers. We can work with haulers to do direct drops to specific areas and make sure customers receive their orders.”

Detailing the mechanics of the in-person shopping encounter, Robinson elaborated that both current and prospective customers would receive invitations to a warehouse. Here, they would have the opportunity to explore the company’s array of offerings and receive comprehensive product information. Following this, retailers can proceed to place their stock orders online for subsequent delivery.

Furthermore, the company has garnered a substantial following on the social media platform TikTok, leveraging videos and product sales within the platform’s consumer marketplace. Robinson mentioned that the company intends to leverage its expertise to assist stores in enhancing their TikTok profiles as well.

He added, “I’d like to think we can offer more services and help retailers sell more of our products through marketing on social media.”

When questioned about the company’s most popular products, Robinson pointed out a selection of items, including US-imported beverages like Fanta, Dr Pepper, Mountain Dew, along with snacks like Cheetos and Takis. He also highlighted products sourced from Mexico.

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