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Amul secures top spot as world’s strongest dairy brand and second strongest food brand globally

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Amul
Amul (Representative Image)

In a significant accomplishment, Amul has clinched the title of the world’s strongest dairy brand according to the Brand Finance Food and Drink Report 2023. This comprehensive report meticulously evaluates and ranks the most potent and valuable brands in the realms of food, dairy, and non-alcoholic beverages.

Conducted by the prominent UK-based brand valuation consultancy, Brand Finance, recognized globally as a leader in its field, the report underscores Amul’s resolute dedication to excellence, ingenuity, and the trust of consumers. Notably, Amul has secured not only the premier position as the most robust global dairy brand but has also attained the remarkable distinction of being the second-strongest global food brand, yielding only to the renowned American chocolate giant, Hershey.

Amul’s remarkable achievement in this esteemed report extends beyond a single accolade. The Amul brand has additionally secured a place within the elite bracket of the top 30 most valuable food brands globally, a notable accomplishment considering the vast pool of 5000 brands worldwide. Furthermore, Amul takes pride in being the exclusive farmer-owned brand among the esteemed ranks of the world’s top 100 brands.

Jayen Mehta, Managing Director of Gujarat Cooperative Milk Marketing Federation (GCMMF), the umbrella organization that markets milk and a range of milk products under the Amul brand, said, “This achievement is a testament to the hard work and dedication of the 36 lakh dairy farmer members of the Amul family. We have always strived to provide the highest quality dairy products to our consumers while upholding the values of sustainability and farmer empowerment. Being recognized as the world’s strongest dairy brand will motivate us to continue our journey of excellence and empowering dairy farmers.”

Securing an impressive valuation of $3 billion, Amul has clinched the seventh position among the globe’s most valuable dairy brands. Notably, as India’s solitary entrant on this esteemed roster, Amul consistently upholds the nation’s pride on the international platform.

Additionally, the report underscores Amul’s dedication to sustainability and ethical conduct by positioning it at the seventh spot in terms of Sustainability Perception Values (SPV).

Amul stands as India’s premier FMCG brand, boasting an annual sales turnover of INR 72,000 crores (equivalent to US $ 9 billion). It serves as an exceptional embodiment of the potency inherent in the farmer’s cooperative movement. Originating in 1946, even prior to India’s attainment of independence, Amul recently celebrated its 75th anniversary.

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Choko La sets ambitious growth trajectory: Plans to expand cloud kitchens, enter new markets, and diversify product portfolio

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Choko La
Choko La (Representative Image)

The couverture chocolate brand Choko La is poised to make significant strides in its growth strategy. With 7 boutique stores and 15 cloud kitchens already under its belt, Choko La is now setting its sights on expanding its presence in both the Indian and international markets, as shared by Vibhu Mahajan, the company’s COO.

Driven by a rising demand, the brand has set its sights on elevating the number of cloud kitchens to 25 by the conclusion of this fiscal year.

“For our products, we have a huge demand coming in from cities like Mumbai, Hyderabad, Bangalore, and Chennai and to cater to this increasing demand, we are planning to open more cloud kitchens during Q4 of FY24,” he explained.

“Another reason for expanding the cloud kitchens is that demand for our cakes has grown by almost 4x in the last couple of years and we are foreseeing another 2x-3x by the next fiscal,” he added.

Currently, cakes constitute 35 percent of the brand’s revenue. Over the upcoming 2-3 years, Choko La anticipates a shift where it will vie evenly with chocolates, aiming for a balanced 50:50 revenue distribution between the two.

An investment of INR 5-6 crore will be infused to support the expansion of cloud kitchens for the brand.

Choko La, conceptualized by Vasudha Munjal Dinodia, ventured into the modern trade arena in the previous year. It has currently established its presence across Spencer’s, Modern Bazaar, and Le Marche. Looking forward, the brand is strategizing to expand its reach to encompass 24Seven and Sodhi’s outlets.

In addition to this, the brand can be found in duty-free shops at 13 international terminals, as well as on various online marketplaces including Amazon, Flipkart, and Blinkit, among others.

Currently, the brand’s revenue is comprised of 60 percent from boutique stores, while the remaining 40 percent is generated through various other avenues such as marketplaces, e-commerce, Q-commerce, and exports.

“In the coming fiscal year, we are looking to change this ratio to 40:60 and for the next couple of years, we have no plans to enter general trade,” he said.

With a portfolio encompassing over 100 SKUs, the brand identifies chocolate and chocolate hampers as its most swiftly selling product categories.

Continuing its expansion into the premium FMCG market, the brand has recently unveiled a classic-flavored chocolate drink packaged in a 200 ml can. Additionally, the brand has imminent plans to roll out this product in three additional flavors, including options catering to health-conscious consumers such as sugar-free and vegan variations.

With the strategic intent to reach into tier II and tier III cities more extensively, the brand has set a price point of INR 175 for the drink.

“In this segment, we have invested INR 2-3 crore and by Q1 of FY 25, we will be launching more pocket-friendly options in 4-5 key categories to cater to a wider audience in tier II and tier III cities,” he stated.

At present, the beverages segment constitutes 7 percent of the brand’s total revenue. As the demand for this segment continues to rise, Choko La envisions a potential increase to 15-20 percent of the overall revenue by the upcoming fiscal year.

In the previous year, the brand made its debut in the US market, and in the current year, it successfully entered the UK market.

“We are supplying to these markets through Amazon at the moment. We are also talking to the departmental stores, for example, in the US, we are in discussions with Whole Foods, which is again owned by Amazon, and in the UK, we are talking with Selfridges and Harrods and we hope to close it by Q3,” he said.

Simultaneously, the brand is in the process of preparing for market entry into Singapore and Canada.

Furthermore, Choko La has intentions to expand its presence into the GCC region, Western Europe, and Australasia.

“At present, international markets contribute to 5 per cent of our overall business, and after expanding to all these countries, we expect the contribution to go up to 15 per cent,” he said.

“In the next 3-4 years, we are eyeing a presence in 10-15 more countries.” he added.

In terms of fiscal operating revenue, the brand achieved INR 25 crore, and it anticipates concluding the current fiscal year with a figure of INR 35 crore.

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Vegetable prices in India set to drop from September, says RBI Governor

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vegetables
Vegetables (Representative Image)

Vegetable prices in India are set to undergo a softening trend, with a probable decline expected from September, as highlighted by Reserve Bank of India (RBI) Governor Shaktikanta Das in his recent speech on Wednesday.

The escalating costs of vegetables and cereals have propelled the retail inflation to surge by 7.44% in July, marking its highest point in 15 months.

“We expect to see an appreciable slowdown in vegetable inflation from September,” Shaktikanta Das said.

Despite the potential hindrance of geopolitical tensions on food prices, he mentioned that the prospects for cereal prices remain optimistic.

Shaktikanta Das remarked that despite the persistent elevation of core inflation, the consistent gradual reduction observed in recent months serves as an indication of effective monetary policy transmission.

He stated that the central bank would be vigilant in preventing inflation from becoming enduring and spreading across various segments.

“The frequent incidences of recurring food price shocks pose a risk to anchoring of inflation expectations, which has been underway since September 2022. We will remain watchful of this,” Shaktikanta Das said.

Since May 2022, India has implemented a cumulative increase of 250 basis points in rates to control the upward trajectory of prices. Shaktikanta Das emphasized that the central bank maintains a strong commitment to bringing inflation in line with the Monetary Policy Committee’s prescribed medium-term goal of 4%.

He highlighted that sustainable growth must be grounded in price stability. He further added that the current conditions are conducive for the ongoing expansion to persist and for the capital expenditure cycle to gather momentum in the fiscal year 2023-24.

Regarding the rupee, the head of the central bank restated that while the RBI doesn’t have a particular target, it will maintain its efforts to bolster foreign exchange reserves in order to effectively handle potential dollar outflows.

“The Reserve Bank has also made conscious efforts to improve systemic resilience and efficiency by maintaining external stability and building forex reserves,” he said.

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CafePod unveils luxurious ‘Black Velvet’ coffee pods for ultimate indulgence

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CafePod Black Velvet
CafePod Black Velvet

CafePod, an independent coffee company headquartered in London, United Kingdom, is introducing “Black Velvet,” a new addition to its range of Nespresso-compatible pods that offers a rich, dark, and incredibly smooth experience.

Crafted by blending elements from CafePod’s renowned blends like Supercharger Espresso and Brunch Blend, the new pod variant encapsulates the essence of dark chocolate torte with its profound and luxurious flavor profile.

With a foundation of dark chocolate, the pod unveils subtle roasted hazelnut undertones, a result of skillful blending using meticulously sourced Ethiopian and Colombian Arabica coffee beans grown at higher altitudes. The addition of Brazilian Arabica imparts a lusciously caramel note to the bold amalgamation.

Peter Grainger, Co-Founder at CafePod, commented, “The name Black Velvet says it all. This dark, strong, rich blend is set to delight coffee lovers and perfectly complements an indulgent chocolatey dessert. Our customers continuously request more strong coffee options, so we think we’ve found the ultimate pleasure blend that will satisfy their coffee needs.”

Crafted using 80% recycled aluminum, these pods will be conveniently accessible for purchase via cafepod.com, Amazon, and Ocado. Priced at an RRP of £3.80, you can obtain a set of 10 Nespresso-compatible pods.

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Domino’s Pizza to close all 142 outlets in Russia amid mounting challenges

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As per a report from CNN, Domino’s Pizza is preparing to shut down its entire network of 142 restaurants in Russia. These establishments are under the ownership of the franchise entity DP Eurasia, and they are set to initiate bankruptcy proceedings for their Russian branch known as DPRussia.

CNN reported that this decision represents one of the initial instances of Western chains exiting the country, following the departures of McDonald’s and Starbucks last year.

“With the increasingly challenging environment, DPRussia’s immediate holding company is now compelled to take this step, which will bring about the termination of the attempted sale process of DPRussia as a going concern and, inevitably, the group’s presence in Russia,” DP Eurasia said in a statement.

If acquired by a different franchisee, the pizza chain might still have a chance to maintain its presence in Russia. A similar strategy was adopted for McDonald’s and Starbucks in the country; they are presently managed by local entities that acquired the franchises and rebranded them with local names.

Since the beginning of 2022, Domino’s has refrained from extending any form of support to the Russian market.

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Moonshine Meadery diversifies portfolio with Lemon Tea Mead, promoting sustainable sipping

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Moonshine Lemon Tea Mead
Moonshine Lemon Tea Mead

Moonshine, renowned as Asia and India’s trailblazing meadery, unveils a revitalizing extension to their esteemed lineup: Lemon Tea Mead. Meticulously concocted using the essence of lemons and VAHDAM India’s Earl Grey tea, Moonshine remains steadfast in its endeavor to lead the charge for bee preservation and advocate for ecologically sound beekeeping methods, all through the simple act of enjoying a sip.

Crafted to transcend seasonal boundaries, Lemon Tea Mead presents a charming amalgamation of tastes – the lively, citrusy kick of lemon intermingled with the profound aroma of VAHDAM India’s Earl Grey tea. Its journey commences with a soft introduction of citrusy undertones that seamlessly surrender to the complex personality of Earl Grey tea, ultimately culminating in a gentle astringency bestowed by the tea’s tannins. This harmonious composition of flavors finds its foundation in the tender sweetness drawn from Moonshine’s diverse floral honey selection.

Available at an alluring price of INR 150 in Maharashtra, regardless of the season, this offering extends a welcoming gesture to novices, enhancing their understanding of meads. Moonshine has additionally partnered with Malaka Spice to creatively utilize their lemon zest, advocating for waste-reduction methods. The company has intentions to forge akin collaborations with other eateries in Pune as well.

Rohan Rehani, Co-Founder of Moonshine Meadery and Moonshine Honey Project remarked, “In the previous year 2022-2023, Moonshine accomplished a remarkable feat, utilizing over 55 MT of honey for crafting both mead and retail honey sales. It’s fascinating to note that it takes approximately 4 million flower visits by bees to produce just 1 kg of honey. Therefore, with our consumption of 55 MT of honey, we’ve effectively contributed to the pollination of a staggering 220 billion flowers. We’re taking one pint at a time and promoting more mead at a lower price point. Our objective is to consistently weave a narrative that underscores Moonshine’s commitment to ecological balance through bee preservation and dedicated beekeeping practices.”

Within the alcoholic beverage sector, Moonshine Meadery holds a unique position as the sole brand that prioritizes beekeeping methods. Every glass of Moonshine consumed results in the pollination of around 4 million flowers. In an arena where only a handful of alcohol brands place emphasis on societal and environmental matters, Moonshine’s mindful commitment radiates brilliantly, reshaping the industry’s responsibility in driving positive global progress.

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Dabur India taps Kartik Aaryan for exciting launch of new Red Bae Fresh Gel Toothpaste

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Kartik Aaryan
Kartik Aaryan

Dabur India has enlisted Kartik Aaryan to serve as the brand ambassador for the introduction of the new Dabur Red Bae Fresh Gel toothpaste variant.

Devised by Ogilvy India, the launch campaign has its sights set on engaging Generation Z and Millennials, underlining the significance of both personal and oral hygiene.

Abhishek Jugran, Vice-President – Marketing, Dabur India, said, “I’m incredibly proud to announce the launch of Dabur Red Bae Fresh Gel. Embracing innovation and customer-centricity, our new launch represents a leap towards redefining excellence in the freshness segment in toothpaste. Infused with 5 Natural Activs like wintergreen oil and mint, the product delivers a unique taste of being mild sweet and spicy, with a burst of minty deep freshness. It is clinically proven to deliver 4 times better freshness compared to ordinary toothpaste.With Dabur Red Bae Fresh Gel, one can imagine a refreshing breeze sweeping through your mouth with every brush, awakening your senses and leaving you with an invigorating chill. We have the most dynamic and vibrant youth icon, Kartik Aaryan who perfectly embodies the values of our brand to make this launch a roaring success. The launch of Red Bae Fresh Gel Toothpaste marks a new milestone in Dabur’s commitment to providing innovative and effective oral care products”.

Aaryan said, “I am delighted to be part of the Dabur family. Dabur Red is an iconic and trusted brand from the House of Dabur. I am very excited to launch their latest Gel toothpaste offering “Dabur Red Bae Fresh Gel” which represents youthfulness, attraction, energy and confidence with a tinge of desi factor which is completely in sync with my personality. I’m excited with this association and look forward to reaching the audiences with our launch creative communicating the brand’s “irresistible freshness” message very effectively.

Ritu Sharda, CCO, Ogilvy India (North), said, “Dabur is constantly innovating products that appeal to today’s youth. Dabur Red BAE Fresh Gel achieves this with a lively and fun campaign that perfectly highlights our clutter-breaking ‘Saason ka Perfume’ concept, which is inspired by Gen Z’s desire to create an everlasting impression by always looking, smelling and feeling good. Dabur’s 12-hour freshness promise with this product further solidifies our concept. The campaign is brought to life by the effervescent Kartik Aaryan.”

Augustus Daniel, Head of Marketing-Oral Care, said, “Gels is the second largest sub-segment in toothpaste category. Our new launch, Dabur Red Bae Fresh Gel, is meticulously crafted with Gen Z and Millennials in mind – from the brand name to the product and proposition. ‘BAE – Before Anyone Else’ captures the essence of a close friend or partner, while ‘irresistible freshness’ appeals to youth aiming to leave a lasting impact in every interaction. Backed by youth icon Kartik Aaryan’s endorsement, our 360-degree campaign across TV, print, and digital platforms aims to win hearts of India’s youth”

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Celebrate the special bond of siblings with Chowman’s exclusive offers this Raksha Bandhan!

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Chowman
Honey Glazed Chilli Squid

A day dedicated to celebrating the cherished bond between brothers and sisters is just on the horizon. If you’re still unsure about how to go the extra mile in pampering your sibling, here’s some exciting news for you. The beloved Chinese restaurant chain that has won the hearts of Kolkata, Bangalore, and now Delhi, has meticulously designed an array of special offers to elevate your plans. Whether you choose to visit the nearest Chowman outlet and enjoy a generous 20% discount on dine-in experiences, or you decide to opt for convenience by ordering through the Chowman App, which comes with an exclusive INR 250 off, you’re all set for treating your sibling to an opulent Chinese feast that will undoubtedly warm their heart.

Renowned for their extensive selection of more than 600 menu items, Chowman is poised to enhance the festive ambiance with their exotic culinary offerings. On this occasion, you have the delightful opportunity to explore a diverse array of choices. Ranging from the delectable Four Treasured Mushrooms and the enticing Honey Glazed Chilli Squid to the flavorful Hong Kong Chicken, and not forgetting the appetizing Veg/Non-Veg Bao, an array of seafood dishes, a variety of Rice and Noodles preparations, a rich assortment of main course options, and an abundance of other tantalizing selections await your indulgence.

Chowman promises to take you and your foodie sibling on a flavourful culinary journey!

Where: Chowman, All Delhi-NCR Outlets

When: August 30 (Wednesday)

Delivery Offer: Chowman App offer: 250 off. Use Code: RAKHI250. T&C applied.

Dine-in Offer: Up to 20% off on Chowman Pay for dine-in customers.

Timing: 12 Noon – 10:30 PM

Helpline: 18008902150

Conceived as the aspiration of a young artist, Chowman emerged with the vision of presenting authentic and traditional Chinese delicacies to the people of Bengal. Crafted with meticulous attention, adorned with warm lighting, and exuding a cozy ambiance, Chowman encapsulates the essence of Chinese ethos, cuisine, and culture. The journey of Chowman has been remarkable, having now expanded significantly to encompass 19 outlets in Kolkata, 6 in Bangalore, and an additional 2 in Delhi, with a promising lineup of more to come.

Gathering numerous national accolades, Chowman has forged partnerships with renowned delivery platforms such as Swiggy and Zomato, in addition to establishing its own dedicated delivery service through the exclusive Chowman app. Supported by a proficient team known for their managerial prowess and master chefs well-versed in the intricacies of traditional Asian cooking, Chowman eagerly anticipates unveiling a multitude of exciting ventures in the upcoming years.

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A Spoonful of Love: How Delna Foods is Revolutionizing Greek Yogurt with Agapi

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Agapi

“Food startups are not really built by people who know the business but by people who are passionate about food,” said Mr. Moksh Eshpuniyani, Founder of Delna Foods in exclusive conversation with SnackFax. And we can’t agree more! We often see that people who are passionate about a certain thing end up dedicating their life towards it. Well, that is what this story is about as well—a story where passion to create something that we love, better for others and ourselves.

Moksha, through his brand Delna Foods, embarked on a mission to introduce Greek yogurt, a traditional delight with roots tracing back to ancient Greece, to modern consumers. Recognizing the growing demand for healthier snack options that don’t compromise on taste or quality, Delna Foods set out to create Agapi Greek Yogurt.

Agapi: Love in Every Spoonful

Agapi, meaning “love” in Greek, perfectly encapsulates the brand’s commitment to delivering not only a product but also a sentiment of love for well-being. The brand envisions making Greek yogurt accessible to everyone, ensuring that affordability does not come at the cost of quality.

At the heart of Agapi Greek Yogurt lies the belief that great taste begins with great ingredients. Delna Foods sources high-quality milk from local farms, prioritizing partnerships with ethical and sustainable producers. The result? A yogurt that boasts the richness of Greek tradition while adhering to modern expectations of quality and transparency.

The yogurt-making process at Delna Foods is a harmonious blend of tradition and innovation. Using age-old techniques combined with modern technologies, the brand ensures that each spoonful of Agapi Greek Yogurt is a testament to its commitment to excellence.

Affordability without Any Compromise:

One of the standout features of Agapi Greek Yogurt is its remarkable affordability. Delna Foods believes that health should be accessible to everyone, regardless of their budget. By streamlining production processes and forging efficient supply chains, the brand successfully delivers a premium product without inflating the price tag.

Agapi Greek Yogurt demonstrates that affordability doesn’t equate to compromise. Consumers can indulge in the velvety texture and rich taste of traditional Greek yogurt without straining their wallets.

Fueling Body and Mind: Nutritional Powerhouse

Greek yogurt is celebrated for its numerous health benefits, and Agapi takes this to the next level. Packed with protein, probiotics, and essential nutrients, Agapi Greek Yogurt supports digestion, promotes muscle recovery, and contributes to overall well-being. Delna Foods proudly highlights the nutritional content of their yogurt, positioning it as a wholesome snack that fuels both body and mind.

Agapi Greek Yogurt isn’t just a snack; it’s a culinary canvas waiting to be explored. Delna Foods encourages consumers to get creative with their yogurt, showcasing recipes ranging from savory dips and dressings to indulgent desserts. This culinary versatility adds an element of excitement to the product, inspiring consumers to reimagine traditional yogurt in innovative ways.

More Than a Yogurt Brand:

Delna Foods doesn’t just want to be a yogurt brand; they want to be a part of their consumers’ lives. The brand fosters a sense of community by sharing stories, recipes, and wellness tips on its platforms. Through engaging with consumers, Agapi Greek Yogurt becomes more than a product—it becomes a lifestyle choice that encourages health, happiness, and togetherness.

In a world where passion drives innovation, Moksha Eshpuniyani and Delna Foods have proved that following one’s heart can lead to the creation of products that not only nourish the body but also nurture the soul. Agapi Greek Yogurt is a delicious embodiment of this passion-driven journey to health and happiness, inviting us all to indulge in a little more love with every spoonful.

Watch our exclusive conversation with Moksh Eshpuniyani here:
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India considers ‘reference price’ to curb under-invoicing of imported alcohol

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As the negotiations for a free-trade agreement (FTA) between India and Rishi Sunak’s government progress, talks have commenced regarding measures to combat the issue of under-invoicing of alcohol. One approach being considered involves the establishment of ‘place valuation rules.’ These rules would necessitate importers to remit customs duty according to a value determined by customs authorities, serving as a benchmark price. This initiative aims to address the concern of underreported prices and ensure fair valuation.

The practice of under-invoicing alcohol for importing liquor into India has become a prevalent strategy adopted by foreign brands. This tactic allows them to evade substantial taxes, even though regulations exist for transfer pricing and transactions involving related parties.

In a recent development, the multinational corporation Pernod Ricard encountered a tax claim of approximately INR 2,000 crore. This claim was based on allegations of intentionally undervaluing concentrate imports over multiple years, a practice commonly referred to as “under-invoicing.”

According to an insider, the Indian government’s strategy to combat under-invoicing involves entrusting DG Valuations within the Central Board of Indirect Taxes and Customs with the responsibility of conducting a valuation assessment and establishing a specified price.

Once the reference price is established, all incoming shipments to the nation would be obligated to pay taxes according to the value determined by customs authorities, regardless of their stance on the taxation matter.

Nevertheless, importers are afforded an opportunity to contest the established price. The source mentioned that if they provide valid justifications, the authorities retain the authority to make a decision and allocate a reduced value for the imported goods.

One approach to address this concern involves having the Directorate General of Foreign Trade establish a minimum import price (MIP). However, this course of action would have led to only commodities surpassing the set price threshold being permitted for entry into India.

The matter of under-invoicing was raised during internal deliberations precisely at a juncture when the country is engaged in negotiations for a free trade agreement (FTA) aimed at securing reduced tariffs for imported Scotch whisky.

Indian officials are in discussions to secure reductions in tariffs, with the objective of safeguarding the segment of bottles priced below INR 750 from any adverse effects stemming from this initiative.

In their efforts to advocate for domestic brands, the Confederation of Indian Alcoholic Beverage Companies (CIABC) proposed the implementation of a minimum import price.

The organization has highlighted that certain alcohol-importing brands in India provided excise authorities with quotations that were one-third of the cost, insurance, and freight (CIF) price they had presented to duty-free outlets. Consequently, the consumer prices of certain brands in India have been lower than the expenses incurred in the UK.

According to CIABC, free trade agreements (FTAs) and under-invoicing could potentially have a negative effect on domestic industry participants.

Up until now, the deliberations within the Indian government have centered solely on bottled whisky. Conversations regarding other varieties of alcohol are still pending.

For years, foreign players have been lobbying to get the Indian government to lower the duty on imported spirits, which is currently fixed at 150 per cent.

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