Wendy’s, the esteemed American international fast food restaurant chain, has proudly achieved a remarkable milestone in India. As confirmed by a company official’s announcement on social media, Wendy’s has successfully launched its 100th outlet in the country. The restaurant’s prime location is at Prahalad Nagar in Ahmedabad, Gujarat, where it is set to delight customers with its delicious offerings and iconic flavors.
“I am delighted to share that we at Rebel Foods are proudly announcing the momentous occasion of opening our 100th Wendy’s Kitchens!” said Anburaj J, General Manager of Wendy’s India brand operations at Rebel Foods.
In 2020, cloud kitchen operator Rebel Foods acquired the license to exclusively develop Wendy’s cloud kitchens in India with a commitment to open approximately 250 such delivery-only kitchens across the country over a 10-year period, according to a previous release.
Founded in 1969 by Dave Thomas, the Ohio-based company Wendy’s originated as a quick-service hamburger restaurant chain. In May 2015, Wendy’s expanded its presence to the Indian market by launching a substantial 2500 sq. ft. restaurant situated in Gurgaon.
As of 2022, Wendy’s, along with its franchisees, collectively manages a network of more than 7,095 restaurants globally. In India, Wendy’s has established its presence in 19 cities across the country.
Bikaji Foods International Limited (Bikaji), a prominent manufacturer of ethnic snacks, has announced a remarkable surge of 163.9 per cent in its consolidated net profit, reaching INR 41.41 crore during the first quarter (Q1) ending on June 30, 2023. This impressive figure is in stark contrast to the INR 15.69 crore consolidated net profit reported in the corresponding period of the previous year, as disclosed in the BSE filing.
According to the regulatory filing, the revenue from operations for Q1 FY24 witnessed a substantial growth, surging to INR 481.68 crore from INR 418.51 crore recorded in Q1 FY23.
Deepak Agarwal, Managing Director of the company, said, “We have started fiscal year FY24 with strong double-digit value, up 15% YoY and volume growth, up 15.2% YoY in Q1, the performance was broad-based across business segments and markets.”
Agarwal added, “We have delivered a resilient EBITDA margin in Q1 led by superior mix, operating leverage and effective cost management. We remain committed on strengthening our distribution network to achieve a deeper distribution across our core and focus markets and on track to expand our direct reach to 2.4 lakhs retail stores by FY24.”
With the price of tomato continuing to remain at INR 200/kg in Chennai, with some supermarkets even charging INR 210, creating a difficult situation for families, the state government is intervening to help the common people.
Tamil Nadu Cooperation Minister K.R. Periyakaruppan said that the state government would sell tomato at INR 60/kg through 500 PDS shops across the state.
Addressing media persons here, he said that the government was intervening in the market to reduce the woes faced by the families as the price of the staple vegetable was going up.
“The price of tomatoes went up in June and we expected it to come down within a week or maximum in two weeks. However there was no respite and instead, the price started increasing and is continuing for the past one month,” he said.
The minister also said that the vegetable price is on the rise due to low arrival of the vegetable in the market due to shortage in the production of tomatoes in Karnataka and Andhra Pradesh due to heavy rains.
According to vendors, the current price of tomatoes in Karnataka stands at INR 1,900 for a 15 kg box. The vendors attribute this price surge to a scarcity of the product.
Mustafa, a trader at Koyambedu market, mentioned that the price is anticipated to decrease by mid-August or the first week of September. He explained that this decline is likely because it will be time for the next harvest during that period.
The Tamil Nadu government had earlier sold tomatoes through the PDS shops but the reduced arrival of stocks is leading to higher pricing of the vegetable.
Lotte India, a leading contender in India’s confectionery industry, is embarking on an ambitious expansion plan by introducing the much-loved coffee-toffee brand, Coffy Bite Rich.
Coffy Bite Rich presents an irresistible fusion of nostalgia, skillfully blending the flavors of rich coffee and creamy vanilla to deliver a delightful and memorable coffee-based taste sensation.
Milan Wahi, MD of Lotte India, stated, “The introduction of Coffy Bite Rich marks a pivotal moment in the brand’s journey, catering to changing consumer preferences and tapping into the burgeoning demand for hard-boiled candies. We anticipate the Coffy Bite Rich to play a significant role in our overall revenue growth, as the category is growing. The new product is set to become the epitome of rich coffee and creamy vanilla, a product that not only resonates with consumers’ choices but also becomes an integral part of the lives of every Indian.”
Coffy Bite Rich stands out with its exclusive alternating swirl pattern, setting it apart and adding visual allure amidst intense competition in the confectionery market. Remaining faithful to the brand’s heritage, the recipe for Coffy Bite Rich has been meticulously crafted to retain the authentic Coffy Bite flavor. Multiple sensory trials involving diverse age groups have been conducted to ensure an unparalleled taste experience.
After acquiring Parry Confectionery, Lotte India emerged as a pioneer in the coffee-toffee brand segment, and since then, they have consistently upheld Coffy Bite as an iconic brand over the years. Since its initial launch in 1987, the brand has continually evolved, introducing a wide array of new flavors, variations, and packaging formats while staying true to its hallmark rich coffee taste.
The introduction of Coffy Bite Rich marks another significant milestone in Lotte India’s mission to revolutionize India’s confectionery landscape with innovative products. The company’s steadfast dedication to serving consumers’ interests and driving progress in the ever-changing food commerce domain sets it apart as a true industry leader.
Sid’s Farm, the Telangana based premium D2C Dairy brand, has recently made an exciting announcement. They are all set to unveil their new salted butter range, featuring two distinct varieties: Cow Butter and Buffalo Butter. The delectable products are soon to hit the shelves in Hyderabad and Bengaluru markets, and customers can look forward to enjoying them from August 1st, 2023, through the direct-to-consumer channel.
Sid’s Farm’s latest butter range proudly boasts of being free from Antibiotics, Preservatives, and Hormones. Packaged in attractive 100g boxes, these butter variants offer convenient and easy application for consumers.
Speaking about the new product, Dr. Kishore Indukuri, Founder, Sid’s Farm, stated – “As we aim to create a range of pure and unadulterated milk and milk products, it was a natural next step for us to add great tasting, traditionally made, salted butter to our basket. Our range of butter is churned from absolutely pure cow and buffalo milk that gives it the amazing taste and assurance of good health.”
Further, he added – “Packed with the goodness of nature, our range of Cow Butter and Buffalo Butter is directed to enhance the diverse flavors of rich Indian cuisines. Our sustainably sourced milk stands true to our commitment to providing pure and unadulterated milk products to our customers who care about the quality of food they eat.”
Since its establishment in 2016, Sid’s Farm has been dedicated to promoting the idea of pure, healthy, and adulterant-free milk and dairy products. Committed to upholding the highest quality standards, the company follows rigorous norms and testing processes. Each batch of milk undergoes a series of meticulous tests to eliminate any traces of adulterants such as urea, sugar, glucose, starch, peroxide, baking soda, caustic soda, formalin, melamine, and three classes of antibiotics, among others. This thorough examination is conducted at a micro level to ensure the complete absence of adulteration.
Sid’s Farm takes pride in its state-of-the-art laboratory, which conducts an impressive number of over 6,500 tests every day. Such rigorous scrutiny guarantees that only genuine, adulterant-free milk and dairy products reach their valued customers.
Sid’s Farm takes the testing of milk very seriously, starting right from the procurement stage. Every can of milk undergoes four levels of rigorous testing to guarantee the delivery of dairy products without any preservatives, additives, antibiotics, hormones, or adulterants of any kind. Before reaching the end consumer, each packet of milk product produced by Sid’s Farm must pass through every test, ensuring that only the pure nourishment and goodness of Mother Nature is unveiled to customers everywhere.
If you’re already concerned about the elevated tomato costs in Delhi and the NCR region, brace yourself for further unfortunate tidings. According to a report by ToI, the retail cost of tomatoes is projected to surge past INR 200 per kilogram, reaching an unprecedented peak. This surge is attributed to an ongoing scarcity in states responsible for tomato production.
As per information from vegetable wholesalers in Delhi, a batch of 25 kilograms of tomatoes was auctioned at INR 4,100 in Uttarakhand on Monday. Considering the commission of mandi authorities, transportation expenses to Delhi, and added profit margins, it is anticipated that the wholesale price in Delhi’s mandis will surpass INR 5,000 per crate.
Vegetable wholesale trader Sardar Tony Singh, operating within Keshopur Mandi, reported procuring crates of tomatoes at a price of INR 4,100 each, originating from the Dehradun district of Uttarakhand.
“The prices this year have broken all previous records. Tomato in this season is generally auctioned for INR 1,200-1,400 for 25 kilos. I have not seen such high prices in my entire life,” he said.
Since June, there has been a notable rise in tomato prices, mainly due to decreased production and crop losses resulting from heavy rains in certain states. Presently, tomatoes are being sold at INR 150-180 per kilo in the retail market. In reaction to this situation, numerous fast-food chains have decided to eliminate tomatoes from their products, while restaurants have temporarily removed tomato soup from their menus.
In order to ease the financial strain on consumers, the central government has provided subsidies on tomatoes and launched sales at approximately 500 outlets, offering them at an initial price of INR 90 per kilo, which was subsequently lowered to INR 80.
Anil Malhotra, serving as the general secretary of the Vegetable Traders’ Association, indicated that Delhi sources its tomato supply from Uttarakhand, Haryana, Karnataka, and Maharashtra. He highlighted that there was an abundant tomato harvest in both 2020 and 2021, prompting farmers to dispose of their yield due to elevated transportation expenses in relation to the market prices. As a result, farmers in diverse regions, such as Himachal Pradesh and Uttarakhand, opted to curtail tomato cultivation this year in favor of growing various varieties of flowers.
Owing to diminished output coupled with sustained consumer demand, tomato prices have experienced a substantial increase.
The influx of tomatoes at Azadpur Mandi has declined from approximately 500 tonnes per day to a range of 350-400 tonnes during July. On Monday, the market received a meager 137 tonnes of tomatoes from a collective supply of Himachal Pradesh, Uttarakhand, Karnataka, and Maharashtra.
Traders foretold that the prices were poised to remain elevated throughout the month, with a potential easing anticipated only during the initial week of September, coinciding with an anticipated increase in supply from Maharashtra.
Aditya Birla New Age Hospitality (ABNAH), the hospitality division of the Aditya Birla Group, has recently unveiled a significant strategic agreement. This deal entails the incorporation of four renowned restaurant brands – Hakkasan, Yauatcha, Nara Thai, and CinCin – into its expanding collection. ABNAH has taken over complete ownership of KA Hospitality Private Limited (KAH), the parent company behind the indigenous brand CinCin and the licensing for the remaining three prominent international restaurant brands.
These four brands are strategically situated within the customer value pyramid, encompassing both the mid-market and premium segments. Hakkasan stands as a Michelin-starred establishment renowned for its contemporary Cantonese cuisine. Originating from London, Yauatcha is a distinguished dim sum teahouse with numerous accolades. Nara Thai offers a contemporary experience that encapsulates the true spirit of authentic Thai gastronomy. Lastly, CinCin represents a modern Italian brand that artfully embodies the ambiance and lifestyle of Italy’s “La Dolce Vita.”
Commenting on the acquisition, Aryaman Vikram Birla, Director, Aditya Birla Management Corporation Private Limited and Founder, ABNAH said, “We continue to believe in the remarkable potential of the premium casual dining space, spurred by rising disposable income and evolving lifestyles of the Indian consumer. The intersection of growing affluence and the desire for new-age, high-quality dining experiences presents an incredible growth opportunity.”
He added, “At Aditya Birla New Age Hospitality, our vision is to create an unmatched portfolio of food and beverage brands within the country. And bringing the best-in-class restaurants to discerning diners is a crucial step towards fulfilling that vision. Each of the four brands uniquely stands out while maintaining a steadfast commitment to delivering exceptional culinary experiences. Dynamism is the lifeblood of the food industry, and our plan is to broaden the reach of these brands and take these distinctive dining experiences to other cities across India.”
The taproom offers a unique ambiance crafted to whisk you away from the daily grind.
Hops Haus, the renowned brewery and kitchen, is now making its mark with a brand new taproom experience at Embassy One. As North Bangalore emerges as a thriving hub for bars and restaurants, Hops Haus finds inspiration in this dynamic neighborhood to establish its latest outlet. This unique venture seamlessly blends a vibrant co-working atmosphere with a serene haven for relaxation, offering a delightful fusion of delectable cuisine, refreshing commercial beers, and a harmonious balance between formal and informal settings. It’s the ultimate destination where you can work, unwind, and indulge in a perfect symphony of flavors and experiences.
Nestled within the vibrant WeWork office space, this taproom offers a unique ambiance crafted to whisk you away from the daily grind. Expertly integrated into the co-working environment, it becomes a natural extension of the dynamic surroundings, perfectly fusing the essence of Hops Haus with the professional hub that envelops it. Step into a world where work and leisure coexist, as the taproom seamlessly blends into the vibrant spirit of the WeWork community.
The moment visitors step foot into Hops Haus, they are immediately transported to a realm where work and worries fade away, replaced by a blissful oasis of relaxation and enjoyment.
“While Hops Haus at WeWork’s Embassy One location caters to the co-working community, we wanted to create a space that transcends traditional boundaries and welcomes guests from outside as well,” says Karan Virwani, Managing Director, Embassy Leisure, adding, “We invite all visitors to come and experience the unique ambiance, exceptional flavors, and the feeling of unplugging from the day-to-day routine.”
Farmology, an agritech platform specializing in serving farmers, recently secured an undisclosed amount in its Seed fundraising round, which was led by iAngels and received additional support from India Accelerator. Notably, the investment round also saw contributions from high-net-worth individuals (HNIs) and esteemed industry experts, including Sunil Nair and Siladitya Sarangi, among others.
The company aims to utilize the funding to enhance its platform by developing a more extensive range of wellness offerings, improving the user experience, and optimizing platform performance.
Founded in 2018 by Anup Ganguly, Farmology offers a wide array of services, including expertise, impartial advice, organic and sustainable agri-inputs, crop and soil health monitoring, and a marketplace for farmers to sell their produce. Through Farmology’s guidance, farmers have already experienced the advantages of using organic fertilizers and herbicides, resulting in higher selling prices for their products. The company’s ultimate objective is to equip farmers and agribusiness stakeholders with technology to benefit the entire agribusiness ecosystem.
Anup Ganguly, Founder and CEO of Farmology, said, “Agriculture in India is very diverse with multiple languages and cultures, but the baseline problems of our farmers are the same across the country. With 150 million farmers the headroom for growth in this space is immense in India which shows a huge untapped opportunity. The speed of transition of farmers going digital has gone up and soon Indian farmers will leapfrog to become the most forward looking farmer community in the world. At the end of the day it all comes down to how well you understand your customer and how well you can execute.”
Deepak Nagpal, Managing Partner and iAgri Head, India Accelerator, said, “As an agri-tech platform, Farmology brings patented agri-inputs and digital crop advisory with a farmer centric approach to help farmers increase their output. We have invested in the startup with great enthusiasm and we intend to witness the fast paced growth and profitability.”
OATEY, a promising dairy alternatives startup, made an exciting announcement on Tuesday, August 1. The company revealed that it recently secured funding from none other than the renowned Indian cricketer, Ajinkya Rahane. While the exact amount of funding remains undisclosed, this investment marks a significant milestone for OATEY’s growth and potential impact in the market.
As part of their strategic partnership, OATEY has also appointed Rahane as the brand ambassador for the startup.
According to Ankush Jamadagni, the Co-Founder of OATEY, the funding will be allocated towards increasing awareness of their plant-based dairy alternatives brand and supporting brand-building initiatives. Additionally, the capital will be utilized to recruit key personnel, extend their presence in the offline market, and introduce new product offerings.
Jamadagni mentioned that the startup is actively seeking additional funding to fuel its ongoing expansion plans. In addition to that, the D2C brand aims to accelerate its growth by collaborating with growth accelerators and institutional accelerators specializing in the plant-based industry.
“The collaboration between OATEY and Ajinkya Rahane symbolises the perfect match of shared values and a common vision. Together, we aim to create widespread awareness about healthier living, advocate for the adoption of plant-based food options, and inspire individuals to lead sustainable lives,” added Jamadagni.
Chiming in, Ajinkya Rahane, in a statement, said, “I am excited to collaborate with a health-conscious brand like OATEY. Their commitment to quality products and inspiring brand values align perfectly with my own principles, and I am confident that our partnership will motivate individuals seeking a healthy lifestyle.”
Founded in 2021 by Jamadagni and Prashant Chauhan, OATEY is a global provider of plant-based dairy alternatives. The company offers a diverse array of products, such as oat milk, millet milk, and chocolate oat milk, available through its website and ecommerce marketplaces.
Over the past two quarters, the D2C brand has experienced steady growth, boasting an impressive average month-on-month (MoM) growth rate of 57% and a quarter-on-quarter (QoQ) growth rate of 30%. The startup attributes this remarkable expansion to shifting dietary preferences and the increasing awareness among the masses regarding sustainable, plant-based milk products.
In recent years, the Indian dairy products sector has witnessed the ascent of several prominent names, with consumers actively seeking organic and sustainable alternatives. Consequently, the market has witnessed the emergence of various direct-to-consumer (D2C) brands like Country Delight, MoooFarm, Stellaps, and others, catering to the growing demand for such products.
Rahane’s support comes amidst a flourishing period for the dairy alternatives industry, with new startups and brands rapidly gaining traction. As an example, in April of this year, another startup called Zero Cow Factory secured $4 million in a seed funding round led by Green Frontier Capital, GVFL, and Pi Ventures. This indicates the increasing interest and investment in the plant-based dairy sector.
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