Monday, January 12, 2026
Home Blog Page 947

Acasa unveils new factory in Pune, offering fresh Italian delights to Indian homes

0
Acasa
Acasa (Representative Image)

Little Italy’s gourmet grocery label, Acasa, has revealed the introduction of fresh production lines through a newly established facility in Pune. This factory will be dedicated to crafting an array of products including pasta, bread, sauces, and cheese. Acasa is renowned for its innovative approach, offering do-it-yourself kits, distinctive sauces, premium cheeses, and freshly crafted pastas, among other unique items. These offerings are designed to empower customers to effortlessly recreate the essence of restaurant-style Italian cuisine within the comfort of their own homes.

Debuting in 2020, Acasa’s products are meticulously crafted within a cutting-edge factory space that covers an expansive 25,000 square feet. Within this facility, four primary production lines operate: the cheese line, pasta line, sauce line, and bakery line. Every production line is meticulously tailored to efficiently manufacture a diverse selection of distinct products.

Since the early 1990s, Little Italy has been crafting their own cheese to cater to their restaurants. However, in response to the surging desire for gourmet cheese and the noticeable uptick in its consumption, Acasa opted to broaden their production. Their expanded range now encompasses a variety of cheeses including Mozzarella, Burrata, Gouda, Goat cheese, Cheddar, Bocconcini, Ricotta, and numerous others.

In addition to their exceptional cheese offerings, Acasa features a standout product line dedicated to pasta. This line specializes in crafting a diverse array of both fresh and stuffed pasta, encompassing delectable choices such as Ravioli, Tortellini, Cappelletti, Lasagne, Gnocchi, and more. The availability of fresh pasta is a culinary indulgence not commonly found in the current Indian retail landscape. Acasa aims to revolutionize this by ensuring the accessibility of these premium pasta varieties to all consumers.

Moreover, the factory’s repertoire extends beyond pasta to encompass a variety of other products. This includes desserts, artisanal breads, and an assortment of sauces like salsas, flavored oils, and an array of dips.

Amrut Mehta, Managing Director of Little Italy Group, said, “With this factory launch, we come one step closer to achieving our dream of bringing a slice of Italy to our customers’ doorsteps and sharing our love for Italian cuisine with India. We want to take it a step further by enabling consumers with great value for money products and sharing our expertise on how to cook Italian food and eventually make gourmet cooking a phenomenon in Indian households.”

“As a brand we strive to continue innovating and create unique products for the Indian market and the next steps for us will be introducing a line of truffle products and a vegan range,” said Raj Mehta, Chairman of Little Italy Group.

He further adds “Our passion for perfection drives us to transform your kitchen into a little piece of Italy, making every meal a celebration of fine taste and cherished memories.”

The factory boasts a distinctive feature: the incorporation of specialized Italian machinery furnished with cutting-edge technology. This equipment enables the production of top-tier products with enhanced efficiency, all the while safeguarding their inherent flavors and extending their shelf life, all without resorting to the use of preservatives. Accomplishing this feat involves a dedicated team of food technologists who leverage their expertise in food science. Through meticulous control over processes, meticulous attention to product temperature, pH levels, and precise packaging criteria, they ensure an extended shelf life for the products.

Conceived by Amrut Mehta, Acasa came into existence and was unveiled during the lockdown period. It proudly held the distinction of being the pioneering venture in the nation to introduce nationwide DIY home kits, a move that achieved remarkable success.

Since then, Acasa’s range of offerings has undergone significant expansion, now encompassing an extensive variety of sauces, cheeses, and pastas. In the preceding fiscal year, their revenue amounted to INR 1.2 crore. Anticipating the forthcoming financial year, Acasa has set its sights on a substantial growth trajectory, with the goal of reaching a revenue of INR 3 crore.

The long-term objective entails rendering Acasa products accessible to the average Indian, allowing them to conveniently prepare gourmet food in their own households.

Advertisement

Swiggy stands strong despite new platform fee, sees no negative impact

0
Swiggy
Swiggy delivery executive (Representative Image)

Swiggy, a prominent player in the food delivery industry, has experienced no negative consequences following its recent choice to implement a platform fee for its users. The company remains confident that the demand for food delivery and dining services has not waned, despite prevailing macroeconomic conditions.

Rohit Kapoor, CEO of Swiggy’s food business, said, “The platform fee is a standard feature across consumer tech categories like ticket booking etc., and we have not seen any impact of it.”

In April, the food delivery platform introduced a ‘platform fee’ of INR 2 per order for all users, regardless of the value of their cart.

Read More: Swiggy implements ‘platform fee’ on all orders, users to bear the cost

In March, Swiggy revealed that its food delivery segment achieved profitability by March 2023, factoring in all corporate expenses except for employee stock option costs. The company’s executive emphasized their command over the profit and loss statement and their ability to judiciously allocate investments to strategically viable areas.

Read More: Swiggy’s strategic initiatives pay off as food delivery business turns profitable

Swiggy is betting heavily on AI, having established a dedicated team to spearhead its AI strategy. This strategic move has already resulted in the integration of AI across several key aspects of their platform. For instance, AI is being used to provide personalized restaurant recommendations to users and to assist them in making cuisine choices. Furthermore, Swiggy has implemented AI in enhancing customer service interactions and touchpoints.

Read More: Swiggy bolsters competitive edge with dedicated AI team for innovation

Also Read: Swiggy employs generative AI to elevate user and restaurant experiences

Notably, Swiggy’s acquisition of DineOut last year has paved the way for them to experiment with restaurant reservations directly through the Swiggy app in specific markets. This trial phase is a precursor to a wider rollout. Beyond this, the company is actively engaged in enhancing the app’s user experience by introducing additional layers of social engagement, as highlighted by Kapoor. This comprehensive approach underscores Swiggy’s commitment to leveraging AI and innovation to enrich their service offerings.

Read More: Swiggy expands services: Table reservation feature to roll out in key Indian locations

Between June 2022 and 2023, the entire food marketplace has observed a year-on-year growth ranging from 15 percent to 30 percent. During this period, Swiggy expanded its presence to encompass nearly 600 cities and towns. Despite the food tech market being primarily controlled by two key players, Swiggy remains unperturbed by the emergence of newcomers such as the ONDC (Open Network for Digital Commerce).

“We don’t see it [the food delivery market] as a duopoly…Our job is to show up and do our best,” says Kapoor. “Today, a Swiggy One user spends 4x more on the app; renewals too are strong,” he adds.

Advertisement

Samsung unveils AI-driven food platform, redefining home cooking experience

0
samsung food
Samsung Electronics Executive Vice President Park Chan-woo introduces the firm’s AI-powered food platform during a media event at its head office in Seoul, Thursday.

Samsung Electronics Co. has introduced Samsung Food, a comprehensive food platform that provides a tailored dining encounter and links seamlessly with the corporation’s adaptable range of Bespoke kitchen appliances driven by artificial intelligence (AI).

On Thursday, the prominent electronics company conducted a presentation in Seoul to introduce its upcoming platform. The official launch of this platform is scheduled for the next month at IFA, the largest trade show for consumer electronics in Europe, taking place in Berlin, Germany, from September 1 to 6.

Samsung Food serves as a comprehensive solution for complete dietary supervision, encompassing a variety of functions. These include exploring recipes from a pool of approximately 160,000 options, devising meal schedules, overseeing ingredients, preparing meals, and exchanging culinary content. Utilizing AI, the platform additionally crafts personalized recipes according to individual preferences and desired nutritional equilibrium. For instance, it can transform a meat-based recipe into a vegan dish by intelligently omitting the meat components while retaining the essence of the recipe.

The specific cooking parameters of a tailored recipe are directly transmitted to a Bespoke oven, eliminating the necessity for users to manually configure cooking temperatures or durations. Beginning with these ovens, Samsung Electronics intends to extend the connectivity of Samsung Food to encompass its array of kitchen appliances, including Bespoke induction cooktops and microwave ovens, by the conclusion of the current year.

By means of the community feature, which permits users to exchange their recipes with fellow users, the objective is to amass a user base exceeding one million active participants within the current year.

Advertisement

Pepsi to roll out exciting new branding and celebratory campaign for 125th anniversary bash!

0
Pepsi

As part of its 125th-anniversary festivities, the major soft drink company Pepsi will introduce its fresh logo and updated visual identity.

In honor of the brand’s official birthday on August 28th, the company will be providing complimentary Pepsi to individuals throughout the United States.

As part of the festivities, the company also mentioned that they will be unveiling new commercials showcasing the updated brand design.

Starting from August 28, 2023, the prominent cola company has revealed plans for a 125-day campaign that will extend until New Year’s Eve. This campaign will feature the introduction of 125 varieties of programming, including immersive events, moments of social content, and various giveaways.

Todd Kaplan, chief marketing officer of, Pepsi said, “Pepsi has become an iconic brand over the past 125 years with a rich legacy of challenging the status quo in pursuit of enjoyment – both in the beverage industry and pop culture at large.

“As we celebrate the brand’s historic milestone over the next 125 days, we will honour some of our most cherished cultural moments as we look ahead towards our next chapter with the rollout of the new Pepsi logo and visual identity.”

Between October 19th and 15th, Pepsi is set to provide an immersive dining experience at The Pepsi 125 Diner located in New York City.

The ambiance will replicate iconic settings from several memorable Pepsi commercials, adorned with artifacts sourced from the Pepsi archives. Simultaneously, it will serve as a tribute to the brand’s refreshed aesthetics and atmosphere.

Within the food menu, you can expect to find classic diner fare as well as innovative Pepsi-inspired dishes, both old and newly crafted.

Kaplan added, “The Pepsi 125 Diner will bring the best of Pepsi all together under one roof – from some of our favourite advertisements to our biggest music moments to our rarest product experiences, and so much more – it will truly be a one-of-a-kind immersive experience unlike anything else.”

Advertisement

Third Wave Coffee expands its footprint in Mumbai with a new café in Chembur

0
Third Wave Coffee
Third Wave Coffee (Representative Image)

Third Wave Coffee (TWC) has inaugurated its 19th coffee shop in Chembur, Mumbai, marking a significant step forward. With the unveiling of this new location, the Third Wave franchise aspires to revolutionize the traditional café experience, bringing an infusion of delight to the discerning palates of both coffee aficionados and food enthusiasts.

The selection of this location was influenced by the vibrant atmosphere and abundant culinary variety found in the area.

Varun Kapoor, Director of Operations, TWC, said, “This café is located in a premium neighbourhood in Chembur, one of the largest suburbs of Mumbai. It is a corner store with great visibility through an open façade, offering a large number of seating options indoors or outdoors.”

Blending modern aesthetics with timeless charm, the interior design of the café envelops visitors in an ambiance that perfectly encapsulates the spirit of Third Wave Coffee.

“Furthermore, we have plans to initiate sip & paint gatherings and coffee brewing workshops for our patrons, activities that are regularly organized across all our branches,” Varun said.

Advertisement

Tim Hortons plans major expansion along Indian highways, aims to open 120 stores by 2026

0
Tim Hortons
Tim Hortons (Representative Image)

Capitalizing on the increased demand from Indian consumers, the Canadian coffee brand Tim Hortons is set to enhance its footprint along highways across various cities in India.

The brand started with its first outlet in Delhi and celebrated its one-year anniversary in the country this August. Extending its presence to 8 cities, it has successfully set up 17 outlets across the nation. Looking ahead, the brand is now focused on expanding its reach to city highways connecting Mumbai – Pune and Chandigarh, aiming to establish a stronger foothold in these key travel routes.

Read More: Tim Hortons India celebrates first anniversary with exciting INR 199 offer

Tarun Jain, CEO, of Tim Hortons India, said, “The one-year journey has been remarkable in terms of discovery, We have been able to learn from the market, and adapt the offerings of the market and not just geographies but also through channels including high streets and malls. We opened our first airport store in Delhi which is getting a good response. We have been able to deliver consistently the Tim Hortons experience while keeping the core of the brand intact and are also developing local products as per the consumer demand. One has to understand the market before entering and we are now going into multiple cities and geographies which is exciting.”

The company has expressed its intention to launch 120 stores across various locations in India by the year 2026.

“We will open in Bangalore soon. We do geographies and look at traction and momentum when we enter a market. When we entered Mumbai, we could go into some neighbouring clusters like Pune, when in Delhi going to Noida and Gurgaon these are natural extensions. This is the strategy we want to take and once you get into a cluster you explore all channels. In Mumbai, the Mumbai – Pune expressway becomes a natural extension,” said Tarun Jain.

Read More: Tim Hortons continues rapid growth in India with addition of two new stores, including first airport outlet

The brand, which features items like pinwheel samosa, baida roti cigar rolls, and chicken makhani ravioli pasta on its menu, highlights that Indian consumers have a preference for local cuisine.

Read More: Tim Hortons makes striking entrance into Indian market, embraces regional cuisine

“Our experience is that Indian consumers want the same authentic core products from the brand but they are willing to experiment on the food side. They are more comfortable with the local cuisine. The other aspect is to experiment and reinvent what is offered on the menu,” added Jain.

Advertisement

Mars Inc bolsters up pet food production with INR 800 Crore investment in Telangana

0
Mars Inc
Mars Inc (Representative Image)

Mars Inc, a worldwide producer of confectionery, pet food, and various other food items, has declared an investment of INR 800 crore to initiate the second phase of expansion for its facility located in Telangana.

Mars Petcare, the segment dedicated to pet food and pet healthcare under Mars Inc, operates a facility in the Siddipet district. This plant, established with a fixed capital investment of INR 200 crore, produces renowned pet food brands like Pedigree and Whiskers.

As per an official statement, this recent declaration increases Mars Inc’s cumulative fixed capital investment in the state from INR 200 crore to INR 1,500 crore. A delegation from the Telangana State, headed by Industries Minister K T Rama Rao, held a meeting with Sekhar Krishnamoorthy, the Chief Data and Analytics Officer for Pet Nutrition at Mars Inc in New York, as mentioned in the release.

Considering the swift expansion of the pet food market in India, Mars has indicated their intention to initiate the second phase of expansion for their Siddipet plant.

The Telangana government and Mars Inc have reached a mutual agreement to form a wide-ranging partnership aimed at introducing endeavors to enhance pet care and pet nutrition within the nation. The discussion during the meeting also encompassed potential collaborations, including the establishment of an extensive foundation for Mars Inc in fields like Research and Development, digital transformation, agricultural supply chains, innovation, and sustainability.

A separate release said Omnicom Group, a renowned global media, marketing, and communications company, will be setting up a large Global Capability Centre here, which would create over 2,500 new employment opportunities. The release said Rama Rao and his delegation met with Omnicom’s leadership team at New York on Thursday, it further said.

Advertisement

Instacart’s revenue soars by 31% as it prepares for highly anticipated IPO

0
Instacart
Instacart (Representative Image)

On Friday, Instacart, the grocery delivery app, announced a significant 31% increase in revenue for the initial half of this year. Simultaneously, the company disclosed its submission for an initial public offering (IPO) on the New York Stock Exchange. This move sets the scene for one of the most eagerly awaited stock market debuts in recent times.

The development comes after a span of 15 months since Instacart discreetly lodged its IPO documents, a customary precursor to an imminent listing.

The company headquartered in San Francisco had initially intended to go public in the last quarter of the previous year. However, it postponed its intentions due to a technology stock downturn and the consistent interest rate increases by the U.S. Federal Reserve, which caused a significant decline in the equity market.

Providing a comprehensive insight into its financial performance, Instacart revealed that its revenue experienced a notable 31% upswing, reaching $1.48 billion during the six-month period concluding on June 30th.

The company’s ability to generate profits could also enhance its appeal to discerning IPO investors. Since the previous year, these investors have shown a preference for companies that are profitable, as opposed to ambitious yet unprofitable startups.

In the span of six months, the company recorded a net income of $242 million, a significant turnaround from the $74 million loss reported in the corresponding period of the previous year.

The upcoming initial public offerings of both Instacart and Arm, a chip designer backed by SoftBank Group, are anticipated to inject new life into the U.S. IPO market. This market has shown signs of recovery in the current year following a lackluster performance in 2022. Investors are optimistic that the Federal Reserve’s guidance could steer the economy toward a stable and controlled slowdown, fostering renewed confidence in IPOs.

Data from Dealogic reveals that, excluding special purpose acquisition companies (SPACs), a total of $10.3 billion has been raised through 77 IPOs in the current year. This amount is almost twice the sum raised during the corresponding period in 2022.

“I think we’re going to see more companies kick off their (IPO) process in 2024, which is when a healthy IPO market will return,” said Mike Bellin, IPO services leader at PricewaterhouseCoopers U.S.

Instacart has stated that Goldman Sachs and J.P. Morgan will serve as the primary underwriters for the offering. Additionally, the company mentioned that its shares are set to be listed on the Nasdaq stock exchange, using the symbol “CART.”

Instacart’s challenging journey toward a Nasdaq listing included reports of the company reducing its internal valuation to potentially as low as $10 billion by December 2022. This marked a significant 74% decrease from its previous funding round over two years ago, which had valued the company at $39 billion.

As per a report, the company increased its valuation by 18% in April.

Sources previously informed Reuters that Instacart had contemplated a direct listing. In contrast to an IPO, a direct listing involves no advance sale of shares, enabling investors to directly offer their shares to the public.

In March 2021, the company appointed Frank Slootman, CEO of Snowflake and an experienced figure in the software industry who has been involved in significant IPOs, to its board.

Established in 2012, Instacart is helmed by Fidji Simo, formerly in charge of the Facebook app.

Under the name it was incorporated as, “Maplebear,” the company submitted its IPO filing.

Advertisement

Swiggy expands services: Table reservation feature to roll out in key Indian locations

0
swiggy
Swiggy (Representative Image)

Soon, the Swiggy app will introduce the convenience of reserving tables at restaurants. Under the ongoing pilot program, customers across Chennai, Ahmedabad, Jaipur, and Pune can enjoy the privilege of booking tables at approximately 200 restaurants, as revealed by Rohit Kapoor, CEO of Swiggy’s Food Marketplace division.

According to him, the largest platform within Swiggy is the Food Marketplace, which is followed by Instamart for groceries, Dineout, and Genie.

“As a leader in the dining out space, the table reservation feature on Swiggy Dineout is a long-standing ask from customers,” he said.

The acquisition of Dineout in the previous year has emerged as a crucial step for Swiggy. Through this integration, Swiggy has successfully addressed both food delivery and dining-out requirements, leading to a network of more than 21,000 restaurant partners across 34 cities, he explained.

“Recently, food delivery business turned profitable (as of March) within nine years, making it a global milestone in the industry,” said Kapoor who joined Swiggy a year ago.

Read More: Swiggy’s strategic initiatives pay off as food delivery business turns profitable

According to Kapoor, over the past year, approximately one lakh restaurants throughout India have become part of Swiggy’s ecosystem. This surge has elevated the total count of restaurants on the platform to 2.80 lakhs, with more than 1,20,000 being classified as small and medium-sized establishments.

“We strongly believe it is still very early days in India’s journey of eating out and food delivery, and are very sanguine about the growth potential over the next two decades. We will continue to make responsible and measured interventions to fuel further growth in food delivery,” he said.

Advertisement

Swiggy resumes IPO plans, aims for stock exchange presence by 2024

0
swiggy
Swiggy (Representative Image)

Food and grocery delivery firm Swiggy is reportedly back on track with its initial public offering (IPO) plans, as stated by a recent Reuters report. Following a pause earlier this year due to subdued market sentiment, the company is now aiming to have its presence on Indian stock exchanges established between July and September 2024.

Having secured $700 million in its latest funding round, the Bengaluru-based startup, which attained a valuation of $10.7 billion, has commenced discussions with financial experts to evaluate its worth, as per the mentioned report.

The company is utilizing its previous funding round’s valuation of $10.7 billion as a reference point for shaping its IPO strategy. However, the specifics of the potential stake sale or ultimate valuation are yet to be determined, the report further highlighted.

At the time of publishing this article, there was no response from Swiggy to the inquiries.

The company has reportedly reached out to eight investment banks, including Morgan Stanley, JP Morgan, and Bank of America, with a request to deliver presentations in early September. These presentations aim to consider their participation in managing the IPO process.

The food delivery firm, originally slated to go public in September 2023 as indicated by media sources, decided to delay this plan due to the volatile macroeconomic circumstances. Additionally, the company augmented its board by appointing three new independent directors in preparation for the intended public listing.

Following the attainment of profitability in its food delivery operations in March, Swiggy’s Co-Founder and CEO, Sriharsha Majety, remarked that the company has joined the ranks of the exceedingly rare global food delivery platforms that have achieved profitability in under nine years since their establishment.

Read More: Swiggy’s strategic initiatives pay off as food delivery business turns profitable

However, in the past few months, Swiggy has encountered several instances of valuation markdowns due to fluctuations in the market.

One of Swiggy’s major investors, Invesco, reduced the value of its stake in the food delivery company to $5.5 billion. Additionally, Baron Capital decreased the valuation by 10% in May.

Read More: Investment firm Invesco lowers Swiggy’s valuation again, marking it down to $5.5 Billion

Also Read: Swiggy faces another valuation setback as Baron Capital revises fair value to $6.5 Billion, second downgrade in a few months

Advertisement