Food delivery applications have seamlessly woven into the fabric of our daily lives, offering unparalleled convenience and solace to those seeking a respite after a taxing day. Nevertheless, picture the excitement that would ensue if your food order arrived not by the hands of a delivery agent on a bike but instead through the futuristic innovation of a drone. This spectacle recently captivated the online community when a viral Instagram video showcased precisely that – a food delivery orchestrated by a drone.
Sohan Rai, a prominent tech content creator, took up the role of a food delivery agent for Zomato, but with a visionary twist. Recognizing the challenges traditional delivery personnel face, like navigating through traffic jams and locating elusive addresses, Sohan identified an opportunity to leverage his expertise in drones to revolutionize the food delivery landscape. He embarked on a daring mission to construct his very own autonomous drone, engineered to soar the skies sans a pilot. The undertaking was ambitious, entailing multiple iterations and repairs, but Sohan remained resolute in his determination to bring his vision to fruition.
Having completed the drone’s construction and programming, Sohan ingeniously integrated a sophisticated dropping mechanism to ensure the safe delivery of food. To put his creation to the test, he procured a delectable pizza from Pizza Hut, carefully securing it onto the drone. The delivery destination was approximately 1.5 kilometers away, and with precision, Sohan programmed the drone to follow a meticulous path that would lead to a direct drop-off at the customer’s compound. All set for the daring expedition, the autonomous drone gracefully soared into the skies, commencing its thrilling journey to deliver the pizza. A second drone accompanied closely, capturing every moment of this groundbreaking process on camera. The mission was an astounding success as the pizza reached its destination promptly and with utmost safety.
In the caption of this post, Sohan wrote, “Being a huge enthusiast of drones, I wanted to put my skills into use and build an autonomous drone which could deliver a pizza directly to a home, without having a pilot. Here, I have built the drone with a lot of Jugaad, and it would be a lot better when it is commercial.”
Since its upload on 31st July, the Instagram reel has become an online sensation, drawing a substantial amount of attention. With over 7 million views, surpassing a million likes, and accumulating thousands of comments, the video has captivated a massive audience and continues to do so.
“Man. This is so cool!!!”, wrote one person.
“Excellent work,” commented another
“Nice… but while trying to solve the problem of the delivery guy.
You kind of killed his job.” pointed out one user.
A person wrote, “Me: Thanks for pizza and drone.. ok. Bye.”
Another jokingly asked, “What if the customer chose cash on delivery?”
Sohan’s groundbreaking experiment serves as a shining example of the potential technology holds in the domain of food delivery. Although the commercial feasibility of drone deliveries necessitates further fine-tuning, his creation has ignited a thought-provoking discussion about the possibilities for future advancements in this field.
DEWAR’S is proud to announce the launch of ‘The New Old Fashioned’ mixer in India, bringing forth the epitome of a premium whisky cocktail experience. Developed in collaboration with the leading cocktail mixer brand Jimmy’s, this ready-to-serve premium mixer is perfectly tailored to meet the evolving preferences of the new-age consumers. Enriched with a delightful array of flavors, it offers a hassle-free way to elevate your at-home whisky-drinking moments, delivering a truly premium service like never before.
With its roots tracing back to the early 19th century, the Old Fashioned cocktail holds a significant place in history and remains a globally cherished whisky concoction. Adding a modern flair to this classic favorite, the new mixer offers a contemporary rendition of the timeless Old Fashioned. Packaged elegantly in 250 ml glass bottles, each accommodating up to 4 cocktails, this innovative twist is brought to you by DEWAR’S.
Presently, this exciting innovation can be acquired through drinkjimmys.com and prominent retail outlets in over 20 cities. The brand has plans to further its reach by extending its presence to quick commerce platforms in the near future. As the year unfolds, the availability of these mixers is slated to expand nationwide, ensuring that consumers all across the country can partake in the enjoyment of this remarkable product.
In recent years, the drinking preferences of whisky enthusiasts have undergone a remarkable transformation. According to the 2023 Bacardi Cocktail Trends Report, a noteworthy 30% of consumers now prioritize purchasing drinks based solely on their curiosity about unique flavors, indicating a growing fascination with experimentation. Moreover, the DIY mixology trend has surged, with a significant 37% of consumers reveling in the art of crafting cocktails at home.
This changing landscape has revolutionized the whisky experience, moving beyond the traditional consumption of whisky neat or on the rocks. The surge in consumers’ adventurous spirit has propelled the popularity of whisky highballs. Interestingly, modern consumers also hold a special fondness for nostalgic elements, offering a brilliant opportunity to captivate their desires by reintroducing the classic old-fashioned with a modern twist through the launch of this innovative mixer.
The confluence of evolving preferences and nostalgia-driven trends paves the way for exciting avenues to engage the whisky-drinking audience in captivating and novel ways. Embracing these dynamics allows brands like DEWAR’S to meet the needs of the contemporary consumer and present them with an extraordinary whisky cocktail experience.
Commenting on the latest innovation by DEWAR’S, Vijay Dev, Category Lead – Global Whiskies, Bacardi said, “Today’s whisky consumers’ curiosity is leading to a departure from conventional whisky norms. Their sense of curiosity has fuelled the growing popularity of unique and refreshing whisky cocktails. With the launch of our premium mixer, DEWAR’S aims to cater to the exploratory spirit of these modern whisky lovers, offering them a quick and innovative way to indulge in the timeless taste of an Old Fashioned. We are excited to provide a platform for these curious consumers to delve into the world of whisky and discover new dimensions of flavor, all from the comfort of their own homes.”
Talking about the collaboration with DEWAR’S, Ankur Bhatia, Founder and CEO of Radiohead Brands, said, “The at-home cocktail culture in India is growing fast and Jimmy’s has been at its forefront. This New Old Fashioned is one of the most complex mixers we have co-created especially for DEWAR’S. It took us over a year to perfect the blend – using four different types of bitters blended with orange zest, cherry, cinnamon, and aromatic cloves – for a perfect at-home Old Fashioned cocktail experience. We are truly excited to partner with DEWAR’S, one of the world’s leading alcobev brands, and bring this mixer to consumers across the country.”
Shares of Zomato Ltd witnessed a wave of upward revisions in target prices from multiple brokerages as the company achieved profitability for the first time. Nevertheless, despite this notable milestone, many brokerages opted to retain their current stock ratings. This positive shift in financial performance has garnered significant attention and confidence from investors and analysts alike.
Motilal Oswal Securities projects a 28 percent surge in the stock target to reach INR 110 per share, surpassing the current market price. JM Financial is even more optimistic, anticipating a 37 percent leap in the stock value over the next 12 months, targeting INR 115 per share. Citi has also revised its target price upward from INR 84 to INR 115, reflecting their increased confidence in the company’s potential. Similarly, Morgan Stanley has raised its target price to INR 115 from INR 85 per share, aligning with the positive sentiment surrounding the stock’s future performance.
Goldman Sachs has raised its target price for the stock to INR 100, up from the previous INR 82. Meanwhile, Jefferies India is even more optimistic, setting a target price of INR 130, a substantial increase from INR 100. Kotak anticipates the stock price to reach INR 105 within the next year, compared to its earlier target of INR 95. HSBC, on the other hand, has raised its target price by 20 percent, now valuing the stock at INR 102. These revisions in target prices indicate growing confidence in the company’s future performance and potential for growth.
On August 3, Zomato reported a net profit of INR 2 crore in the first quarter of the current financial year. The company also revealed revenues of INR 2,416 crore, which marked a significant 70.9% increase compared to the previous year. This growth was attributed to the recovery in demand, aided by cooling inflation, and the continued success of the food delivery platform’s loyalty program. The positive financial results demonstrate the company’s resilience and the effectiveness of its strategies in adapting to market conditions and retaining customer loyalty.
JM Financial’s use of the term ‘stellar’ to characterize Zomato’s earnings might be an understatement considering the enormity of the achievement. The firm’s prior confidence in the Street estimates being overly conservative proved well-founded, as the actual extent of Zomato’s earnings surpassing expectations was truly remarkable and exceeded all anticipations. The brokerage firm’s decision to retain Zomato as its top pick within its listed internet coverage reflects the company’s exceptional performance and potential for further growth.
“Baking in the results and the guidance, even with a decent margin of safety, suggests Zomato is a rare play on both growth as well as profitability. While the stock has moved up 35 percent since March-quarter results, we expect the momentum to sustain, as at CMP, the market is largely capturing value attributable to only its FD business, whereas significant value unlocking is waiting to happen in Blinkit,” JM Financial said in a note.
Jefferies acknowledges that Zomato’s journey since its IPO has been a rollercoaster ride, marked by noteworthy highs and lows. However, the company has achieved a remarkable milestone by attaining adjusted-EBITDA and consolidated PAT positivity much sooner than anticipated, surpassing their own projections. This resounding success firmly puts to rest any doubts about Zomato’s ability to generate ‘respectable’ profits, solidifying the company’s position as a robust and promising player in the market.
Moreover, the outstanding results further bolster the credibility of Zomato’s management team and showcase their strong execution capabilities. This newfound confidence in the management bodes well for Blinkit, a division that was previously underestimated or even perceived negatively by many investors. As a consequence of these favorable developments, Jefferies has substantially revised their EBITDA projections, reflecting the growing optimism surrounding Zomato’s overall performance and potential for future growth.
Zomato witnessed an 11.4 percent expansion in the gross order value (GOV) of its food delivery, reaching INR 7,318 crore. Additionally, the average monthly transacting users surged by 5.4 percent, totaling 17.5 million.
Meanwhile, Blinkit, another division of Zomato, experienced a sequential growth of about 5 percent in its GOV, amounting to INR 2,140 crore. Simultaneously, the average order value (AOV) for Blinkit increased to INR 582, marking an impressive 11.5 percent rise compared to the previous quarter. These figures demonstrate the company’s ongoing efforts to enhance its business and further solidify its position in the market.
“We remain positive and expect long-duration 15 percent GOV (Gross Order Value) growth in food delivery, though we see significant upside from the quick commerce business (Blinkit), which could be as big as the FD business ahead with commensurate unit economics,” HSBC said in its latest note.
Nomura Research, Dolat, and Macquarie Research have revised their target prices downward. Nomura now projects a target price of INR 60, a significant 37 percent reduction from its earlier target of INR 87. Dolat has also decreased its target price to INR 65, reflecting a 25 percent decline. Meanwhile, Macquarie has maintained its underperformance rating and retained the target price at INR 55 per share, aligning it with the current market price. These adjustments in target prices reflect the varying outlooks of the respective brokerages on the stock’s future performance.
Zomato’s outlook is brimming with optimism as the company foresees a remarkable growth trajectory for its adjusted revenue, targeting a rate of +40 percent over the next couple of years. This expected growth is set to fuel the continued improvement of contribution margin (CM) and adjusted EBITDA margin, showcasing the company’s commitment to sustained progress and financial success.
According to Nomura’s projections, Zomato’s core food delivery business is expected to achieve a Compound Annual Growth Rate (CAGR) of approximately 20 percent during the FY24-25 period, with a contribution margin (CM) ranging between 7 percent to 7.5 percent. While Nomura acknowledges that Zomato is progressing well towards achieving its EBITDA margin target of 4-5 percent (as a percentage of Gross Order Value) earlier than anticipated, the brokerage remains skeptical about the company’s ability to maintain a double-digit CM in the face of sustained high growth in the long term.
“Transacting user growth momentum in both food delivery (+0.9mn QoQ in a seasonally strong quarter) and quick commerce (flat) was below estimates. We note lack of clarity from the management on the bottom-up growth drivers for the core food delivery business. Further, if a bulk of the growth guidance is driven by Hyperpure, Going Out, or Blinkit, this would unlikely be value-accretive,” said Macquarie in its latest report.
According to informed executives, Tata Consumer Products and ITC Foods have begun discussions regarding the acquisition of a substantial share in Organic India, a company supported by Fabindia and known for its organic teas and health products. The talks suggest that Tata Consumer or ITC may consider purchasing Fabindia’s existing stake in Organic India, or they might explore the possibility of acquiring a new stake in the company.
“After its buy-out talks with mineral water maker Bisleri fell through earlier this year, Tata Consumer has been actively scouting for acquisitions in the foods and beverages space, specially in the health and wellness category,” one of the executives said.
Specific information regarding the negotiations and the potential valuation of the Lucknow-based manufacturer, known for producing an extensive selection of premium organic teas and food supplements, remains undisclosed at this time.
Organic India is supported by Premji Invest and Lighthouse Capital, and Fabindia holds a significant ownership of over 40% in the company.
The spokespersons of Tata Consumer Products and ITC stated that they do not comment on market speculation when queried about the potential acquisition of Organic India. Furthermore, despite sending an email seeking comment, there was no response from Fabindia’s spokesperson until the time of press.
According to the mentioned executives, not only Tata Consumer Products and ITC but also several other packaged consumer goods companies are actively pursuing Organic India.
As per the ‘Indian Organic Sector Vision 2025’ report published by the commerce ministry, the organic and wellness products industry has witnessed substantial growth, particularly in high-double digits following the Covid-19 pandemic. The report predicts that the sector is expected to reach INR 75,000 crore by the year 2025.
The market is projected to experience a significant annual growth rate of approximately 16-18% until the year 2026-27.
Wilko, the budget retailer, has issued a concerning statement, indicating that it is teetering on the verge of collapse. This distressing situation puts over 12,000 jobs in jeopardy. The high street is grappling with mounting expenses and lackluster consumer demand, exacerbating the challenges faced by the company.
The household and garden products retailer, boasting approximately 400 stores, has disclosed its action of filing a notice of intention to appoint administrators at the high court on Thursday. The advisory firm PricewaterhouseCoopers (PwC) has been enlisted to handle the situation.
In recent months, PricewaterhouseCoopers (PwC) has been collaborating with Wilko to actively seek a potential buyer, aiming to secure the necessary additional funds by the end of this month to sustain ongoing operations.
Should Wilko succumb to administration, it would become the most significant retailer to do so since the convenience store chain McColl’s, which experienced a similar situation just over a year ago. Fortunately, McColl’s was successfully rescued by the supermarket chain Morrisons.
Established in 1930 with the opening of its first store in Leicester by JK Wilkinson, the budget retailer has played a crucial role in filling numerous high street gaps left by the collapse of Woolworths in late 2008. Despite its efforts, the tough economic climate has posed significant challenges for the company. To address its financial difficulties, Wilko borrowed £40 million from the restructuring specialist Hilco last year. The company took measures to tackle the situation, including job cuts, restructuring its leadership team, and selling off a distribution centre after experiencing losses and facing a cash crunch.
The retailer witnessed a decline in sales as it grappled with payment issues to suppliers, resulting in empty spaces on shelves. Moreover, the withdrawal of trade cover by at least one credit insurer prompted certain suppliers to temporarily halt deliveries.
Notwithstanding its challenges, the owners of Wilko, headed by the Wilkinson family, received £3 million in dividends during the 12 months leading up to February 2022. However, in the accounts filed at Companies House last year, the company’s auditors cautioned that it lacked adequate committed financing to endure a “severe but plausible downturn in trading activity.”
Hilco, the owner of Homebase and former owner of HMV, is poised to be a prominent candidate to assume control of Wilko in the event of administration, given its status as one of the largest creditors.
Issuing a notice of intention provides a business with a 10-day safeguard against creditors, allowing it the necessary time to stabilize its financial situation. It is important to note that such a notice does not automatically entail the appointment of administrators.
Mark Jackson, the Chief Executive of Wilko, said, “While we can confirm we’ve had a significant level of interest, including indicative offers that we believe would meet all our financial criteria to recapitalise the business, at present, we don’t today have an offer that provides the necessary liquidity in the time we have available, given the mounting cash pressures we’re faced with.
“Unfortunately, with this in mind, today we’re having to take the difficult decision to file a [notice of intention to appoint administrators].”
According to Jackson, the company plans to persist in engaging with interested parties and endeavors to secure its future as swiftly as possible.
“We continue to believe that our robust turnaround plan, with significant re-stabilisation cost savings in progress, will deliver a profitable Wilko and maximise the significant opportunities that we know exist,” he said.
Andy Prendergast, the national secretary for the GMB union, which represents some Wilko workers, said, “This is extremely concerning but we remain hopeful that a buyer can be found.
“Wilko’s staff deserve reassurance that their jobs are safe. We hope this is the number one priority going forward.”
DS Group, the FMCG conglomerate, has appointed Jyotiroop Barua as the business head of Dharampal Satyapal Foods, its confectionery business, according to a press release on Thursday.
Taking on his new position, Barua will assume the responsibility of spearheading the company’s business strategy and fostering growth, aiming to solidify its presence in the segment.
On his appointment, Barua said, “DS Group has grown at a tremendous pace in the last few years with the evolving consumer needs and is recognized amongst the top three players in the non-chocolate FMCG segment in India. I am very excited to take the reins and help steer the company to new heights. Post entry into the chocolate segment, which is primarily dominated by MNCs, DS Group looks promisingly at the next decade to further consolidate its position in the confectionery business.”
Rajiv Kumar, Vice Chairman, DS Group said, “It’s an exciting time for us and our team is geared up for an extremely successful decade ahead as we consolidate our position as one of the leading Indian FMCG majors. As we continue to evolve with the rapidly changing business landscape, we are delighted to welcome Barua to the DS family. With his extensive experience, we look forward to the market insights and fresh ideas that he brings to the table and are confident of his ability to grow our already well-established confectionery business.”
With an extensive background spanning more than three decades in the FMCG sector, Barua possesses diverse expertise across various channels and regions, encompassing both domestic and international markets. Armed with a profound comprehension of sales and marketing dynamics, distribution networks, strategic initiatives, and operational intricacies within the realm of consumer goods, he has contributed his skills to esteemed organizations including MTR, Dabur, Anheuser-Busch InBev, Dunkans Industries, The Assam Company, and several others.
Radico Khaitan, the renowned Indian company, reported a 10% rise in first-quarter profit on Thursday. This impressive growth was fueled by the soaring demand for its premium liquors, including Rampur whisky, Jaisalmer gin, and Magic Moments vodka.
In the April-June quarter, the company’s consolidated net profit surged to 682.7 million rupees ($8.25 million), marking a significant increase from 619.9 million rupees recorded in the same period the previous year.
Experiencing a remarkable growth trajectory, the company witnessed a substantial surge in revenue from operations, soaring over 26% to reach 40.23 billion rupees. This impressive increase was primarily driven by a remarkable 40% spike in sales of their premium liquors. Additionally, the company also boasts a “regular” segment featuring more affordable alcohol options, including 8 PM whisky, Old Admiral brandy, and Contessa rum.
Radico Khaitan attributed its improved margins to a strategic emphasis on expanding its premium business, coupled with prudent price adjustments implemented over the past four quarters. Furthermore, the favorable trend in raw material prices also played a role in bolstering their profitability.
Lalit Khaitan, Chairman and Managing Director of Radico Khaitan Limited, said, “Although we have faced raw material pressure in the short term, the mid-to long-term growth and margin trajectory remain intact.”
United Spirits, the producer of renowned brands like Smirnoff vodka and Black Dog whisky, also reported an increase in quarterly profit. This growth was primarily driven by the decline in raw material prices and reduced excise duty expenditure.
Prior to the release of the results, Radico Khaitan’s shares concluded the day 0.7% higher. During the April-June quarter, the company’s shares experienced a moderate increase of 1.7%. In comparison, United Spirits observed a significant surge, with their shares gaining an impressive 20.6% during the same period.
Homegrown FMCG major Dabur India is actively seeking an acquisition in the direct-to-consumer (D2C) space, as disclosed by its Chief Executive Officer, Mohit Malhotra, on Thursday. The company’s keen interest lies particularly in the healthcare and personal care sectors, signaling its strategic move to expand its presence in these markets.
During the Investors’ Conference Call held after the results, Malhotra expressed that the acquisition would serve as a catalyst for Dabur India to enhance its presence in the rapidly growing premium segment. Additionally, it will play a pivotal role in fortifying the company’s position in urban markets, further reinforcing its foothold in the industry.
Furthermore, Dabur India, renowned for its iconic brands like Dabur Amla, Dabur Vatika, and the popular juice brand Real, is ramping up its investments in branding and promotional activities. This strategic move comes as the company experiences a consistent improvement in margins quarter on quarter, aided by the moderation of commodity prices.
When asked about any D2C acquisition, Malhotra replied, “We continue to scouting on targets in the D2C space also, particularly in healthcare and personal care… We are looking for a brand that will shore up margin and not be dilutive.”
“If we come across a company which is synergistic with the healthcare space and personal care space, skincare Ayurvedic play, we will evaluate them and its financially worthwhile, we will acquire the company,” he added.
Additionally, he mentioned that Dabur India has ample funds available in its balance sheet to pursue the acquisition of a direct-to-consumer (D2C) brand. Such an acquisition could potentially serve as a premium addition to Dabur’s urban business segment.
Earlier this year, Dabur India successfully concluded the acquisition of a 51 percent stake in Badshah Masala, a significant move that enabled the company’s entry into the branded spices and seasoning market.
Several FMCG companies such as HUL, Marico, ITC, and Tata Consumers Products Ltd etc are quite aggressive and had done several acquisitions in the D2C food space.
Over consumer sentiments, he said Dabur is witnessing a recovery in demand.
“During Q1, most commodities witnessed a moderation in inflation; in India, too inflation showed signs of easing, as witnessed in both CPI and WPI data. With this moderation in inflation there has been an uptick in volumes in both urban and rural markets, indicating promising signs of recovery in demand,” he said.
However, he added that the beverage portfolio of the company which includes juice brand Real got impacted by unseasonal rains in North and West India.
Its consolidated net profit increased 5 per cent to INR 464 crore in the June quarter on the back of robust sales.
The company had reported a net profit of INR 440 crore in the April-June period of the last fiscal.
The company’s revenue from operation during the June quarter rose 10.91 per cent to INR 3,130.47 crore as against INR 2,822.43 crore in the year-ago period, Dabur India said in a regulatory filing on Thursday.
“We remain committed to our strategy of superior go-to-market execution by enhancing our distribution footprint while focusing on driving growth for our power brands and building an agile organisation culture in our pursuit of sustainable, balanced growth and value creation,” Malhotra said.
The company has taken several measures to pursue greater efficiency and the gains were ploughed back in the form of higher investments to drive demand, he added.
“Our media spends grew 30 per cent in the consolidated business and 28 per cent in the India business,” Malhotra said.
He noted that with inflation softening, the company has seen its rural growth bounce back to high single digits after three quarters.
While rural growth continues to lag urban demand, the gap has reduced significantly, Malhotra said.
“We continue to strengthen our long-term competitiveness through investments in developing consumer-centric innovations and technology, as we deliver on our purpose of health and well-being for every household,” he added.
Shares of the company closed nearly 2 per cent lower at INR 554.70 apiece on the BSE.
Britannia Industries Limited, a leading FMCG company, stated in its annual report for 2022-23 that the food sector, in which it operates, has been substantially affected by soaring commodity prices and increasing interest rates. Moreover, the fallout of the Russia-Ukraine conflict has also contributed to these challenges. The company highlighted that the enduring repercussions of these factors continue to have a significant impact on the industry.
It said that although commodity prices were volatile and inflation was at unprecedented levels, the post-Covid normalisation of economic activities supported growth throughout 2022-23.
During the last fiscal, the major challenge confronting the food industry was managing inflation in the cost of key inputs like wheat, milk, sugar, palm oil and crude oil, the company annual report said.
The foods vertical of Britannia comprise segments like biscuits, cakes, rusks, bread and dairy.
On the outlook for the foods vertical, the company said that businesses in the country are still optimistic on demand conditions despite apprehensions about global recession.
The inflation trajectory during the coming year will depend on a host of domestic and global factors. The outlook for food prices and rural growth will depend significantly on the climate and adequacy of monsoon rain, it said.
Britannia said that the company’s international business weathered the difficult inflationary environment and expanded to new geographies during 2022-23.
The company’s strategy in its international business is to strengthen brand equity, offer new products, establish and grow local operations in fast emerging markets like contract manufacturing, acquisitions and joint ventures.
The international business of Britannia is primarily focussed in the countries of the Middle East, America, Africa, Asia Pacific and SAARC.
Quick-service restaurant KFC India recorded an impressive 22 percent surge in system sales during the June quarter. Concurrently, Pizza Hut’s operations in India witnessed an 11 percent uptick in system sales for the same period. Notably, both KFC and Pizza Hut are part of the portfolio owned by Yum! Brands Inc., which unveiled its second-quarter earnings on Tuesday.
“Our performance in the quarter ending June (Q2 2023) has been consistent. Taking forward the momentum, we have recorded 22 per cent system sales growth for India and partner countries. It was an action-packed quarter, as we continued to steadily increase our physical and digital footprint, diversified our offerings, and strengthened our commitment to the planet,” said Moksh Chopra, General Manager, India BMU (Nepal, Bangladesh, Sri Lanka and Maldives).
In the face of inflationary pressures, KFC India has taken proactive measures to address the needs of Gen-Z consumers by introducing new price points of INR 99. This strategic move accompanies the recent launches of the KFC Chicken Roll and KFC Snackers range in the country. Despite challenges, the brand remains committed to catering to its audience and currently operates over 800 restaurants in India through its franchise partners.
“We also brought back exciting offers like Chicken Celebration Week, Leg Piece Bucket, All in One Bucket in India; and Savoury Sawan in Sri Lanka. Building regional resonance, we launched a campaign in Chennai inspired by local pop culture,” he added. The company added that it has switched to recyclable, compostable, or biodegradable packaging across all its restaurants in India.
In the same period, Pizza Hut achieved an 11 percent increase in system sales during Q2. Earlier this year, the brand celebrated the inauguration of its 800th outlet in India. Operating in collaboration with franchise partners Devyani International and Sapphire Foods, Pizza Hut’s restaurant network continues to expand rapidly. With an ambitious growth strategy, the brand successfully incorporated 200 new outlets in 2022 and is poised to reach the significant milestone of 1,000 outlets by the coming year.
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