Rage Coffee, a rapidly growing FMCG company that manufactures, markets, and distributes innovative coffee products globally, has raised $5 million of growth capital as part of its Series A funding round led by Sixth Sense Ventures.
The Rs 7,000 crore Indian packaged coffee segment is dominated by incumbents with two players, Nestle and HUL (Nescafe and Bru), controlling over 65 percent market share of the industry. Given the lack of innovation in the space, Rage is well-positioned to be the brand of choice for the next generation of coffee consumers. Rage is disrupting the core instant coffee segment by launching flavored instant coffee (Mocha Mint, Irish Hazelnut, Dark Chocolate, etc) along with products such as roast coffee, and cold brew coffee bags.
Rage, a digitally native FMCG brand, is now expanding rapidly using an omnichannel approach. The vitamins-enriched coffee brand was founded in 2018 by Bharat Sethi. Rage Coffee products are retailed through its own website, all leading online platforms, and 1,000+ offline touchpoints through a network of distributors. The company has been recently accepted into Amazon’s Global Selling Accelerator Program, which plans to take Indian brands to global markets through the Amazon network.
The brand is planning to expand its online presence and offline footprint pan-India and will utilize the fresh capital for marketing and distribution purposes. Rage Coffee will also use the funds to scale production, launch innovative new products, and add senior management talent.
Speaking on the development, Bharat Sethi, Founder & CEO of Rage Coffee, said, “We are excited to work with Sixth Sense Ventures - veteran FMCG investors, through this round of funding. Therefore, we plan to double down on our efforts across all the channels. We are successfully building a truly omnichannel FMCG brand, with distribution strategies being implemented for the first time, given our digital DNA. In fact, our D2C channel has grown 10x during the pandemic. With this round of funding, we have our sights set on fulfilling our global demand as well with distributor partners in the US, Europe, and GCC markets already working with us. We see ourselves continuously developing innovative new products in the years to come.”
Nikhil Vora, CEO, and Founder, Sixth Sense Ventures, added, “We are thrilled to partner with RAGE Coffee in their journey. The company’s vision is perfectly aligned with our philosophy here at Sixth Sense, a disruptive product (flavored instant coffee), developed by a maverick founder, with a vision to disrupt a large category. With the increasing adoption of the café culture and changing consumer preferences within hot beverages (in favor of coffee), our sense is that the segment will witness a strong increase in penetration. We believe Rage Coffee is extremely well-positioned to resonate with these new-age consumers and create a strong brand affinity for its products. We are excited to partner with Bharat and the team in their journey to establish Rage as a marquee Indian brand in the caffeine segment.”
Kalyan Jewellers India Limited has reported a consolidated revenue increase of 32 percent for the first half of FY25, reaching Rs 11,601 crore, compared to Rs 8,790 crore in the previous year. With retail operations expanding across India, the company recorded a consolidated profit after tax (PAT) of Rs 308 crore for H1 FY25, up from Rs 278 crore year-on-year. In Q2 FY25, Kalyan Jewellers’ consolidated revenue was Rs 6,065 crore, with a PAT of Rs 130 crore. A one-time loss of Rs 69 crore was noted due to a reduction in customs duty in India during the second quarter.
India’s standalone revenue reached Rs 9,914 crore for H1 FY25, up 34 percent from Rs 7,395 crore in H1 FY24. The company’s India operations registered a PAT of Rs 285 crore in the first half, an increase from Rs 254 crore in the prior year. For Q2 FY25, the standalone revenue stood at Rs 5,227 crore, with a PAT of Rs 120 crore.
In the Middle East, Kalyan Jewellers recorded a 21 percent rise in revenue, reaching Rs 1,611 crore in H1 FY25, up from Rs 1,329 crore in the same period last year. The Middle East operations posted a PAT of Rs 33 crore, up from Rs 29 crore year-on-year. Q2 FY25 revenue for this segment was Rs 800 crore, with a PAT of Rs 14 crore.
The e-commerce arm, Candere, saw H1 FY25 revenue grow to Rs 80 crore from Rs 66 crore in H1 FY24. However, Candere reported a net loss of Rs 6 crore for H1 FY25, compared to a Rs 4.8 crore loss in the prior year. In Q2 FY25, Candere’s revenue was Rs 41 crore, with a net loss of Rs 3.8 crore.
Ramesh Kalyanaraman, Executive Director of Kalyan Jewellers India Limited said, “We are extremely excited with the way the current year has progressed thus far, despite volatile gold prices and the ongoing quarter is also witnessing robust footfalls. We recorded SSSG in excess of 20 percent for the Diwali minus 30 days period when compared to the base year. We are upbeat about the ongoing wedding season across the country and hope to end the calendar year on a very strong note.”
Kalyan Jewellers continues to experience substantial growth in its India retail sector and anticipates closing the year on a positive trajectory amidst the current festive and wedding season.
ASICS has introduced its latest GT-2000 13 model in the Indian retail market, designed to offer enhanced comfort and lightweight stability for runners. Tailored to meet the needs of various workouts and running styles, the GT-2000 13 is engineered with ASICS’ 3D GUIDANCE SYSTEM, ensuring seamless adaptation to each runner's movements for a smooth experience over any distance.
The GT-2000 13 shoe features the 3D GUIDANCE SYSTEM, which delivers adaptive stability across each stride. This system includes a three-dimensional midsole that minimizes excessive collapse while running, paired with a wider outsole to promote stable foot movement and efficient transitions from heel to toe. This combination provides consistent support for runners who prioritize both stability and comfort.
Incorporating advanced comfort features, the GT-2000 13 utilizes PureGEL technology in the heel to improve shock absorption, resulting in softer landings and a smoother ride. This technology minimizes foot strain, enabling longer runs with enhanced comfort.
The shoe also integrates FF BLAST PLUS cushioning, a lightweight and responsive material that delivers energetic rebound along with a soft feel, enhancing the running experience with added cushioning. The updated engineered mesh upper balances breathability and support, while the lightweight design improves comfort throughout the run.
Other improvements include a denser insole for a better fit and a smoother ride, making the GT-2000 13 a strong choice for runners seeking a blend of comfort, stability, and versatility in their footwear.
Tomoki Ishizashi, Performance Running Footwear, Stability Silo Developer at ASICS said, “The GT-2000 13 is the perfect lightweight stability shoe for every workout, for every runner. Through the ASICS Design Philosophy, ASICS focuses on creating outstanding products and making movement feel better, in body and mind. As part of our design philosophy, the GT-2000 13 shoe is committed to sustainability by using recycled materials. This versatile trainer takes runners on an exhilarating journey that moves the body and inspires the mind. With the GT-2000 13 shoe, we hope runners will run with excitement and get their hearts racing."
ASICS’ GT-2000 13 model reflects the brand’s commitment to providing quality footwear for runners in India, with features that support an adaptable, comfortable, and stable running experience.
Cantabil Retail India Ltd has announced its financial results for the second quarter ending September 30, 2024. The company reported revenue of Rs 151.2 crore and a net profit of Rs 6.6 crore for Q2. For the six months ending on the same date, Cantabil’s revenue reached Rs 279.1 crore, showing a year-over-year growth of 13 percent, with a profit after tax (PAT) of Rs 18 crore. The company’s EBITDA rose by 16 percent year-over-year, totaling Rs 73.9 crore for the half-year period.
As part of its retail expansion in India, Cantabil has opened 23 new exclusive stores across various states, including Gujarat, Haryana, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Uttar Pradesh, and Uttarakhand, bringing its store count to over 550 nationwide. This growth highlights the company's strategy to expand its footprint in both offline and online channels, solidifying its position in the Indian retail industry.
Vijay Bansal, Chairman and MD of Cantabil Retail India Limited said, “We are pleased to report a robust beginning to FY25, with our Company achieving an impressive 29.4 percent volume growth in H1 FY25. Notably, this success was accomplished despite challenging market conditions and adverse weather conditions, particularly the heat wave in North India and extended monsoon, which impacted consumption.”
Bansal outlined the company’s strategic focus on enhancing customer access and brand presence. “Our strategic agenda is focused on enhancing customer convenience, reinforcing our brand promise, and driving growth through expanded reach, bringing us closer to customers; entry into newer markets; diversification across segments and categories and elevating the shopping experience.”
Cantabil anticipates an improvement in consumer spending as the festive and wedding seasons coincide with a favorable economic environment. “The combination of above-normal monsoons, festive season, and wedding season is expected to drive improvement in discretionary spending. Additionally, the government’s focus on consumption stimulus will further bolster demand,” Bansal noted, adding that companies with strong brand loyalty and customer connections are well-positioned to benefit from these conditions.
Looking ahead, Cantabil aims to capitalize on emerging opportunities in India’s fashion retail sector by expanding its store network and strengthening its market presence. “We are committed to shifting gears, capitalizing on emerging opportunities, and solidifying our position as a leader in the fashion apparel sector,” Bansal concluded.
Cantabil's approach aligns with the current market environment, targeting sustainable growth through a robust retail strategy and expansion into emerging markets across India.
Elista, a leading consumer electronics brand under TeknoDome, is driving forward with an aggressive global expansion strategy aimed at achieving Rs 1,500 crore in revenue by 2026. From its origins as a startup during the pandemic in 2020, Elista has rapidly grown into an international brand, currently operating in over 18 countries. The company plans to significantly extend its reach across various global markets in the coming years.
The company’s recent entry into Tanzania marks a significant step in its East African expansion, emphasizing its commitment to making cutting-edge technology accessible in new regions. This follows successful expansions into markets such as the UAE, parts of Africa, CIS countries, and Asia, further solidifying Elista’s adaptability in diverse global environments.
Saket Gaurav, Chairman of Elista said, “Our expansion into Tanzania and other global markets is a testament to Elista’s dedication to innovation and our vision of global accessibility. From the challenges we overcame during our pandemic-era launch to our current international footprint, our journey reflects resilience, adaptability, and the unwavering goal of bringing high-quality, affordable technology to consumers worldwide. We are driven by our Rs 1,500 crore revenue target for 2026 and will leverage our strengths in innovation, affordability, and local manufacturing to achieve this.”
Since its entry into the UAE market in 2022, Elista has shown a strong commitment to understanding regional consumer needs. The brand, initially focused on Smart TVs, has expanded its product portfolio to include washing machines, air conditioners, coolers, IT accessories, and more. Elista has also tailored its product offerings to international markets, such as introducing water dispensers and batteries, in line with its strategic product localization approach.
Elista’s goal of establishing a presence in over 35 countries within the next two years reflects a dual-focus strategy that balances both domestic and international growth. The company expects to generate approximately Rs 500 crore from the Indian market, with the remaining growth driven by international sales. This supports Elista’s broader vision of contributing to India's 'Atmanirbhar Bharat' initiative while maintaining its leadership position in the consumer electronics sector.
A key aspect of Elista’s expansion is its commitment to manufacturing excellence. The company is investing in a new facility with the capacity to produce 1 million Smart TVs and 1 million computer monitors annually. This facility will strengthen Elista’s production capabilities and underscores its "Making in India for the World" initiative, aimed at ensuring high-quality standards and efficient production.
Sustainability and energy-efficient technology are also central to Elista’s growth strategy. The company’s focus on responsible innovation, combined with strong after-sales support, has helped solidify its reputation as a reliable global brand, fostering long-term customer loyalty.
With a clear vision and robust roadmap, Elista is poised to become a major global player, fulfilling its mission to empower consumers and improve lives through innovative technology.
Cupid Limited, a key player in India’s retail and FMCG market, has reported its financial performance for the quarter ending September 30, 2024. The company, recognized for its range of male and female condoms, personal lubricants, IVD kits, and various FMCG products, showed significant growth across several financial metrics, reflecting a robust trajectory in both its domestic and global operations.
Q2 FY25 Financial Performance
H1 FY25 Financial Performance
Operational Highlights
Cupid Limited has recently expanded its B2C offerings with new products such as Eau De Parfums (EDPs), deodorants, almond hair oil, massage oils, and toilet seat sanitizers. This expansion supports the company’s strategy to strengthen its retail footprint in India, focusing on super stockists, distributors, and increased retail touchpoints. Additionally, the IVD (In Vitro Diagnostic) business has seen continued growth, with automation advancements underway.
The company has also invested in contract manufacturing for major domestic FMCG and pharma brands, and ordered automated packaging equipment for condoms to enhance productivity. Internationally, Cupid’s B2B teams have actively expanded partnerships with current and new customers, securing new tenders, and expanding OEM and branded business opportunities.
Aditya Kumar Halwasiya, MD said, “We are delighted to announce a good set of numbers for the quarter. On the operational efficiency front, we have delivered great margins on a YoY quarterly basis, in spite of seeing an increase in depreciation and employee costs.”
Cupid Limited has also begun the groundwork for its new Cupid Palava Plant, with land leveling and construction of the compound wall currently in progress. The company aims to commence operations at this new plant by December 2025. Halwasiya highlighted that orders for machinery at the new facility are planned for Q3 and Q4 of FY25.
Looking ahead, the company expects to achieve a revenue milestone of Rs 60 crore from its domestic B2C business, with a target of reaching over 150,000 retail touchpoints in India by the end of FY25. With partnerships in modern retail and co-branding initiatives, Cupid is also pursuing greater visibility across retail chains and e-commerce channels. Based on current growth, the company anticipates Rs 125 crore revenue from the domestic B2C segment in FY26.
FSN E-Commerce Ventures, the parent company behind the popular beauty and lifestyle brand Nykaa, announced a robust increase in its consolidated net profit for the second quarter ending September 30, 2024. The company reported a net profit of Rs 12.97 crore, reflecting a 66 percent rise compared to Rs 7.8 crore recorded during the same period last year.
Nykaa's consolidated revenue from operations experienced a significant boost of 24.4 percent, amounting to Rs 1,874.84 crore in the reported quarter, up from Rs 1,507.02 crore in the corresponding quarter of 2023. This impressive growth underscores the brand's ability to adapt to evolving market dynamics, strengthen its consumer appeal, and effectively meet the demand for beauty and lifestyle products.
The company’s beauty segment was a standout performer, with a 29 percent year-on-year (YoY) increase in gross merchandise value (GMV), which reached Rs 2,783.3 crore during the quarter. This rise was largely driven by successful new customer acquisition efforts, which saw a 31 percent YoY growth. "This was fuelled by new customer acquisition growth of 31 percent YoY, bringing Nykaa’s cumulative beauty customer base to 30 million and One Nykaa cumulative base to 37 million. This contributed to a 22 percent YoY rise in annual unique transacting customers and a 24 percent YoY increase in total orders," the company stated. This surge in customer base highlights Nykaa's strategic initiatives to enhance customer engagement and loyalty across its digital platforms.
With a strong foundation laid in the first half of the fiscal year, FSN E-Commerce Ventures aims to further capitalize on growth opportunities, maintain its momentum across beauty and fashion segments, and continue expanding its customer base and revenue streams. Nykaa’s consistent ability to drive profitability and growth underscores its resilience and adaptability in the highly dynamic beauty and lifestyle sector.
Jewellery retailer PN Gadgil Jewellers, which was recently listed, announced a 59.11 percent rise in net profit, amounting to Rs 34.91 crore for the quarter ending September 2024. The company's net profit for the same period last year stood at Rs 21.94 crore, as stated in a regulatory filing on Tuesday.
The company’s revenue from operations also saw a substantial increase of 45.92 percent, reaching Rs 2,001.31 crore during the quarter under review, compared to Rs 1,371.51 crore in the corresponding quarter of the previous fiscal year.
“The second quarter of FY25 has been highly rewarding, marked by strong operating performance across all our markets despite significant volatility in gold prices. Q2 FY25 surpassed expectations, establishing a solid foundation for growth, with demand levels exceeding those of the second quarter of FY24,” said Saurabh Gadgil, Chairman and Managing Director, PN Gadgil Jewellers.
Gadgil noted that the company made a strong debut on the stock market on September 17, 2024.
Saurabh Gadgil further added, “Several factors shaped this successful quarter. The reduction in gold import duty announced in the Union Budget was a pivotal development. Lowering the import duty for gold and silver to 6 percent and platinum to 6.4 percent aligned with industry demands and positively impacted consumption, helping moderate prices that had previously reached record highs. This move has not only supported the growth of the organized sector but also provided much-needed relief to consumers while enhancing market transparency and curbing illegal smuggling activities.”
With strong financial results and a strategic market debut, PN Gadgil Jewellers is well-positioned to further capitalize on industry growth and evolving consumer trends. Looking ahead, the company remains focused on sustainable expansion and delivering value to its shareholders while continuing to bring craftsmanship and authenticity to jewelry lovers across India.
Delhi-based Prithviraj Jewels has announced the grand opening of its new store at E-31, South Extension II, New Delhi. This expansion is part of the company’s ongoing efforts to bring its renowned craftsmanship and exceptional jewelry collections closer to a wider audience.
The newly launched store showcases a comprehensive selection of fine diamond jewelry, including a diverse array of rings, bangles, bracelets, necklaces, and intricately designed Polki pieces. Each creation exemplifies the brand’s unwavering dedication to quality and attention to detail, ensuring that every piece reflects a blend of traditional artistry and contemporary elegance.
“Our journey has always been centered around authenticity and unmatched craftsmanship. This new store represents our mission to elevate the customer experience, combining modern sophistication with traditional values,” said Kanika Agrawal, Founder, Prithviraj Jewels.
As part of its growth strategy, Prithviraj Jewels intends to further expand its reach through a robust presence in both the online and offline markets. This move aligns with the company’s ambition to make its bespoke collections more accessible to customers while maintaining the essence of luxury and heritage.
Prithviraj Jewels is a family-owned business with more than a century of experience in the jewelry industry. Over the years, it has earned a reputation for creating high-quality jewelry using Polki, diamonds, and gold. Each piece crafted by the brand speaks to its legacy of precision, authenticity, and elegance passed down through generations.
Beyond its commercial success, Prithviraj Jewels remains committed to giving back to society. The company channels a portion of its profits towards education and healthcare initiatives across India. This dedication to social responsibility reflects its core values of fostering community welfare and building a brighter future for all.
With its latest store opening in South Extension II, Prithviraj Jewels continues to strengthen its position as a trusted name in fine jewelry, offering customers timeless pieces and an unforgettable shopping experience. The brand invites patrons to visit its newest location and explore the exquisite collection firsthand, experiencing the perfect blend of tradition, luxury, and modernity.
Susegado, now open at Goa’s Manohar International Airport, introduces India’s first airport microbrewery, providing travelers with an immersive experience of Goan culture, cuisine, and retail hospitality. Named after the Goan term "Susegad," which signifies relaxation and ease, the microbrewery, a collaboration between Rising Tide Beverages, Lane Nine Hospitality, and Radiance (a subsidiary of IRHPL), presents an inviting space where travelers can enjoy Goa’s unique flavors and ambiance right as they arrive.
Covering more than 5,000 square feet, Susegado's interior combines elements of vintage Goan home decor with the refined atmosphere of a jazz bar, creating a welcoming setting for both tourists and locals. The design captures the spirit of Goa while serving freshly brewed Goan beers, aiming to offer a relaxed environment that allows travelers to experience Goa's culinary heritage and enjoy a range of traditional and international flavors.
Susegado’s beer lineup centers on brews crafted with locally sourced ingredients, bringing a unique taste to its offerings. Featured beers include Poder's Pilsner, a crisp pilsner crafted with upcycled Goan bread; Kokum Gose, a tangy beer made with kokum extract; and an English Ale suited for both seasoned and new beer enthusiasts. These specialty brews are complemented by a menu of authentic Goan dishes, letting visitors savor Goa’s distinct flavors.
An IRHPL spokesperson shared, “We are thrilled to introduce Susegado at the Manohar International Airport, with a vision to create an airport experience that embodies the spirit of Goa, offering travelers a taste of Goan culture and flavors in an environment that combines the best of local brewing with an authentic Goan vibe.”
Visitors to Susegado can also participate in brewery tours and tastings to gain insight into the brewing process and the inspiration behind each beer. Travelers can look forward to experimental beers and exclusive Konkan-inspired collaborations available only at Manohar International Airport.
FSN E-Commerce Ventures Limited, known as Nykaa, reported its Q2 FY25 financial results, showing solid performance across its retail operations in India. Consolidated Gross Merchandise Value (GMV) rose by 24 percent year-over-year (YoY) to Rs 36,525 million, with revenue from operations also up by 24 percent YoY, reaching Rs 18,747 million. The company's Q2 FY25 EBITDA was Rs 1,037 million, marking a 29 percent YoY increase in profitability.
Financial Overview
For Q2 FY25, Nykaa’s revenue from operations saw a 24 percent YoY increase, reaching Rs 18,747 million. Gross profit rose 26 percent YoY to Rs 8,210 million, and EBITDA grew by 29 percent YoY, totaling Rs 1,037 million. Profit before tax saw significant growth at 60 percent YoY, reaching Rs 213 million, while net profit for the period stood at Rs 130 million, reflecting a 66 percent YoY increase.
Business Updates: Beauty Retail
Nykaa’s beauty retail vertical demonstrated a strong performance with a 29 percent YoY increase in GMV, reaching Rs 27,833 million. This growth was driven by a 31 percent rise in new customer acquisitions, bringing Nykaa’s cumulative beauty customer base to 30 million and its total cumulative base for “One Nykaa” to 37 million. The vertical also saw a 22 percent YoY increase in annual unique transacting customers and a 24 percent YoY increase in total orders.
Expanding its retail footprint, Nykaa now has India’s largest beauty retail network with 210 stores across 72 cities, including two new flagship stores in Mumbai and Delhi. Retail space expanded by approximately 25 percent YoY, achieving a GMV of Rs 3,500 per square foot per month. Nykaa continues to add global beauty brands to its platform, launching over 170 new brands in Q2 FY25, such as YSL Beauty and Dr Jart+, both exclusive to Nykaa in India.
To enhance customer satisfaction, Nykaa has bolstered its same-day and next-day delivery services across 110 cities, with over 70 percent of orders in these areas fulfilled within a day.
Nykaaland 2024 and Industry Engagement
The second edition of Nykaaland, India’s largest beauty festival, drew over 25,000 visitors—1.7 times the previous year’s attendance. The event featured over 1,000 content creators, industry expert masterclasses, and participation from 80+ major brands. New product launches included offerings from Clinique, Sol de Janeiro, and GHD.
Nykaa also held the “Beauty & You” program in partnership with Estée Lauder Companies, supporting emerging Indian beauty entrepreneurs. Additionally, in September 2024, the company hosted its “Best in Beauty” Summit, introducing a Beauty Trend report created in collaboration with Redseer. Key industry figures, such as Rohit Jawa, MD and CEO of HUL, and Vismay Sharma, President of L’Oréal South Asia Pacific, joined discussions on emerging trends.
Beauty: Owned Brands
Nykaa’s owned beauty brands posted a 48 percent YoY GMV growth in Q2 FY25, totaling Rs 3,602 million. The company increased its stakes in Dot & Key and Earth Rhythm, along with expanding its product range in popular lines like Kay Beauty and Nykaa Cosmetics.
Beauty Distribution: Superstore by Nykaa
Superstore by Nykaa, Nykaa’s beauty distribution arm, experienced an 80 percent YoY GMV growth and currently serves over 235,000 transacting retailers across 1,060 cities and towns in India. Profitability improved, with a contribution margin shift from -20.1 percent in Q2 FY24 to -11.5 percent in Q2 FY25 due to increased ad income and operational cost efficiencies.
Fashion Retail Expansion
Nykaa Fashion’s revenue grew by 22 percent YoY, while GMV rose by 10 percent YoY, with “First in Fashion” sales (new season items) showing a 26 percent YoY increase. Profitability in this segment improved, with gross margins up by 567 basis points YoY, now at 49.7 percent, and fulfillment cost reductions contributing to a better EBITDA margin of -9.0 percent, compared to -12.1 percent in Q2 FY24.
Nykaa also introduced the global sneaker retailer Foot Locker on its platform, expanding into the athletic footwear market in India. This includes a dedicated Foot Locker India website and integration within Nykaa’s ecosystem, providing customers with exclusive access to sneakers and sportswear.
Nykaa’s Q2 FY25 results reflect its strategic growth in both beauty and fashion, with substantial expansions in retail presence, product offerings, and customer acquisition across India.
Diageo India (United Spirits Ltd.) has launched a regenerative agriculture program with rice farmers in Telangana in a significant move toward sustainable practices in India's retail supply chain. The initiative, in collaboration with the Centre for Sustainable Agriculture, is part of Diageo’s commitment to reducing carbon emissions and water consumption within its supply chain. In its first year, the program will engage over 220 farmers across 15 villages, covering more than 500 hectares, with plans for expansion in subsequent years.
Rice production accounts for around 17 percent of India’s agricultural greenhouse gas (GHG) emissions, a notable factor given Diageo’s reliance on broken rice as a key raw material. By promoting sustainable rice cultivation methods, Diageo aims to reduce its scope 3 emissions, focusing on the environmental impact of its supply chain.
The regenerative agriculture initiative will provide smallholder farmers with training in sustainable rice cultivation, soil health management, and water-efficient practices. To directly address scope 3 emissions, Diageo has identified primary sourcing areas for broken rice and has performed lifecycle assessments to estimate emissions. Key regenerative practices being implemented include alternate wetting and drying (AWD), direct rice seeding, and the system of rice intensification. These methods have demonstrated significant environmental benefits, with AWD alone reducing GHG emissions by 39 percent and irrigation water use by 34 percent. Additionally, these practices support soil health, boost biodiversity, and reduce synthetic fertilizer dependence.
Jitendra Mahajan, Chief Supply and Sustainability Officer at Diageo India stated, “Our regenerative agriculture program is aimed at supporting smallholder farmers within local communities while building resiliency in our supply chain. This initiative is a step forward in our journey to championing ‘Grain to Glass Sustainability’, a key focus area under our ‘Spirit of Progress’ ESG action plan. Through the rice regenerative agriculture program in Telangana, we're actively working towards our goal of reducing value chain (Scope 3) emissions by 50 percent and water use by 30 percent. We continue to explore partnerships in line with our ESG action plan to expand the impact of our work and leverage synergies.”
Dr. G V Ramanjaneyulu, Executive Director at the Centre for Sustainable Agriculture said, “Our partnership with Diageo India is a significant step towards driving resource-efficient farming practices and championing a sustainable future for rice production in Telangana. Regenerative agriculture practices offer a holistic approach to farming that can improve soil health, biodiversity, and climate resilience. By working together, we can demonstrate the tangible benefits of this approach for various value-chain stakeholders and the environment."
With this program, Diageo India reinforces its focus on sustainability, aiming to create long-term value in its supply chain while contributing to India's environmental goals in the retail and agriculture sectors.
India’s retail market welcomes a new player as cricket legend Yuvraj Singh steps into the consumer goods industry with the launch of *Twiddles*, a brand focused on guilt-free snacking. Aimed at health-conscious consumers, Twiddles offers a line of nutritionally dense, flavorful snacks that balance taste and wellness, addressing a longstanding gap in the market.
Reflecting on his journey from cricket champion to food entrepreneur, Yuvraj shared, “I believe indulgence and health can go hand in hand. As an athlete, I understand the value of balanced nutrition, and with Twiddles, we’re filling a gap by offering snacks that blend rich taste with nutritional benefits, supporting a mindful approach to eating.” Yuvraj’s partnership with Alfinity Studios, which specializes in creating brands with celebrities and influencers, aligns with his goal of developing Twiddles into a globally recognized, guilt-free snacking brand. He added, “Healthy or unhealthy, we all eat across the spectrum. Twiddles is here to support that balance with options that fit into any lifestyle.”
Twiddles’ initial product line includes almond, walnut, and cashew chocolate spreads that feature up to 70 percent nuts and seeds, are free from preservatives and palm oil, and contain 70 percent less sugar. Alongside these, the brand is also launching date-sweetened snack bites, designed for quick energy and convenient snacking.
Co-founder of Alfinity Studios, Kumar Gaurav said, “It’s incredibly exciting to work with Yuvraj on bringing his vision to life with Twiddles. His passion for balanced indulgence is infectious, and we’re proud to co-create a brand with him that’s not just about great taste but a whole lifestyle shift. We are working on creating more product lines that fulfil our vision of bridging the gap between indulgence and wellness and becoming a go-to-option for conscious consumers.”
Twiddles will be available across e-commerce, quick commerce, and retail channels in India. The brand is also exploring partnerships for broader distribution through co-branded collaborations. With plans to expand internationally within six months, Twiddles aims to redefine snacking by offering quality and purpose-driven options globally from India.
Kapoor Watch Company has officially opened a new Rolex boutique in the prestigious DLF Emporio Mall, Vasant Kunj, Delhi. This move marks another milestone in Kapoor Watch Company’s 20-year-long partnership with the Swiss luxury watchmaker Rolex, further cementing their reputation in the high-end retail space. The boutique spans a spacious 1,266 sq. ft., offering a sophisticated and immersive experience for watch connoisseurs and first-time buyers alike.
Situated at location 243A on the first floor of DLF Emporio Mall, the new boutique is designed to reflect the luxury and craftsmanship synonymous with the Rolex name. The interior blends classic elegance with contemporary design elements, creating a serene yet exclusive atmosphere for shoppers. The space showcases Rolex’s esteemed collections and offers an engaging environment for customers to learn about and experience the brand’s heritage and technological innovations.
“We’re extremely proud to announce the launch of our first Rolex boutique in Delhi. We are honored to have had a chance to partner with Rolex for this prestigious opportunity to open the boutique at the best luxury mall in India. For us, this boutique stands as a testament to our 20-year-long association with the brand. Designed to align with Rolex’s classic and elegant aesthetics, our boutique amalgamates the best of Rolex and the quintessential Kapoor Watch experience,” said Prateek Kapoor, Director, Kapoor Watch Company.
Rolex, headquartered in Geneva, has built a global reputation as a leader in luxury watchmaking, known for its precision, innovation, and excellence. The brand has pioneered numerous milestones in the industry, including the invention of the Oyster—the world’s first waterproof wristwatch. It remains a symbol of prestige and craftsmanship, admired worldwide for its commitment to quality and groundbreaking technology.
Established in 1967, Kapoor Watch Company has a rich legacy of luxury retail spanning more than five decades. Known for its commitment to delivering superior service and offering some of the world’s finest timepieces, Kapoor Watch Company has become a trusted name among discerning customers. The company’s partnership with Rolex exemplifies its dedication to quality and a customer-first approach, with the new boutique serving as a testament to its shared values and passion for excellence.
Parag Milk Foods Limited, a prominent player in the Indian dairy market, has announced its financial results for the second quarter and half-year ended September 30, 2024. The company reported significant growth in revenue and profitability, driven by strong volume performance across its key dairy categories, including Ghee, Cheese, and Paneer.
Consolidated Financial Performance – Q2FY25
Consolidated Financial Performance – H1FY25
Key Business Highlights – H1FY25
New Business Segments
Devendra Shah, Chairman of Parag Milk Foods said, “As we continue to expand Parag Milk Foods' reach and impact, our focus remains steadfast on delivering top-quality, innovative products that cater to evolving consumer needs. We are happy to announce that this quarter, we have achieved our highest ever sales, reaching INR 871 crores in revenue. This is a testament to the growing trust consumers place in our brand. Our recent launch of Gowardhan Sweets reinforces our commitment to purity. Made with Gowardhan Ghee and cow milk, it offers an authentic and wholesome choice in a market increasingly plagued by adulteration concerns. Gowardhan Ghee continues to be a market leader with a 22% share in the branded cow ghee segment. Similarly, the new Go Cheese campaign showcases how our cheese varieties add delight and versatility to everyday meals. Newer business segments, Avvatar and Pride of Cows, are also gaining strong traction. It is overwhelming and delightful that our brand Gowardhan’s association with Kaun Banega Crorepati continues for the third consecutive year, and our Go Cheese brand enters the house of Big Boss."
“With a robust pipeline for new product developments, I am confident that our deep-rooted commitment to provide customer-centric products will propel us towards our ambitious INR 10,000 crore target and beyond. We have built this company on a foundation of trust and quality, and I am proud to see that legacy continue to grow,” he concluded.
Parag Milk Foods continues to make strides in both the retail and dairy sectors, maintaining its focus on innovation and quality to meet the growing demand for dairy products in India.
DAEWOO India has named industry veteran C.M. Singh as its Joint Managing Director, strengthening its executive team as the company expands its footprint in India's retail and consumer durables market. With over 30 years of experience in the electronics industry, Singh's expertise is expected to support DAEWOO India's growth and innovation objectives in the evolving retail landscape across India.
C.M. Singh’s career includes prominent leadership roles such as Business Group Head for Home Entertainment at LG, COO at Videocon, CEO of TCL India, and CEO of Sukam. His extensive background in launching brands and product categories has established him as a key figure in the consumer electronics and durables sector.
H.S. Bhatia, MD of DAEWOO India, stated, “I am thrilled to welcome C.M. Singh, not only as a seasoned industry professional but also as a longtime friend and colleague. Singh’s expertise in strategic vision, market expansion, and operational excellence will be instrumental in enhancing our electronics business as we enter the consumer durables sector. His knack for identifying market trends and his experience with international markets will further strengthen DAEWOO's presence across India, especially as we expand into Tier II and Tier III markets.”
Singh shared, “DAEWOO is renowned for its globally accepted, cutting-edge technologies and robust business practices. I am excited to contribute to the company’s journey of growth and to help solidify DAEWOO as a leading name in consumer durables in India. With our expansion into untapped markets and our commitment to innovation, I am confident we’ll deliver a new level of excellence to Indian consumers.”
Singh’s extensive experience will support DAEWOO India's objectives to broaden its market reach, enhance operational efficiencies, and provide quality products that align with the needs of Indian households. The collaboration between DAEWOO India and Singh marks a significant step toward offering innovative and dependable products, aiming to strengthen consumer experience across India's retail market.
India's Latambarcem Brewers (LB Brewers), known for its innovative craft beers, has teamed up with Taiwan's Jim and Dad's Brewing Company to introduce India's first bottled tea beer, MAKA di Oo-Long Blanche. This cross-border collaboration marks a significant step in the retail craft beer industry in India and Taiwan, blending traditional Taiwanese Xiangzhuang Red Oolong tea with Belgian Blanche brewing techniques. This limited-edition beer is available exclusively in Goa and Taipei, two hubs celebrated for their vibrant craft beverage scenes.
LB Brewers Co-Founder and CEO Aditya Ishan Varshnei said, “Our collaboration with the Jim and Dad’s Brewing Company of Taiwan is a celebration of cross-cultural brewing. A global-first landmark, it signifies an unprecedented confluence of cultures, with the ancient Taiwanese tea tradition meeting Latambarcem’s Belgian Blanche brewing expertise. It has strategically been launched across two globally sought-after destinations, so that craft beer connoisseurs from all over the world can witness and experience the coming together of two diverse worlds.”
Jim Sung, Co-Founder of Jim and Dad's Brewing Company said, “Being able to share the unique flavor of Taiwanese Oolong tea with India, and also bringing some of India’s flavors back to Taiwan made the collaboration totally worthwhile. Our team had a great time visiting Goa and exchanging brewing techniques with our Indian counterparts. We hope this beer can serve as a great introduction to both cultures in our respective markets.”
Crafted by incorporating Oolong tea leaves toward the end of the brewing process, MAKA di Oo-Long Blanche brings together the delicate notes of Red Oolong tea with the refreshing taste of wheat beer. This unique product is priced at Rs 150 and features a 4-5 percent ABV, appealing to craft beer enthusiasts and those interested in unique cross-cultural brews.
The release of MAKA di Oo-Long Blanche comes shortly after LB Brewers' successful MAKA di Rocket Rice Lager launch, further establishing the company’s foothold in the craft beer sector in India and beyond. Their product line, including light, medium, and strong lagers, is a favorite across regions such as Goa and Uttar Pradesh and has gained a following in the U.S., Canada, and UAE markets.
With this latest addition, LB Brewers continues to diversify its offerings, positioning itself as a prominent player in the global retail craft beer market.
In a nod to both Marvel fans and the growing eyewear retail market in India, OPIUM Eyewear has unveiled a new limited edition Iron Man-inspired collection. This marks the third and final release in OPIUM’s Marvel series, following its previous collaborations with Black Panther and Captain America. Designed to embody the essence of Iron Man’s powerful persona and his transformation from entrepreneur Tony Stark, the collection allows wearers to express their individuality through distinct pieces influenced by Marvel’s iconic hero.
Ronak Sheth, founder of OPIUM Eyewear said, “At OPIUM, we believe that everyone has a ‘superhero within,’ and eyewear serves as a modern-day mask, enhancing our style while subtly transforming our persona.” This Iron Man collection reflects that vision, blending the superhero’s bold design with the versatility of everyday wear, capturing Stark’s transformation and resilience.
The collection includes a range of styles—from wayfarers and navigators to a unique mask design—that draws on the geometric lines and color schemes symbolic of Iron Man’s red and gold suit. Featuring a metal-layered acetate finish, the frames evoke the complex structure of Iron Man’s armor, with subtle touches that reference Stark Industries for an added depth to the designs.
For fans and collectors, the experience extends to the packaging: each frame comes in a case designed around the arc reactor, making it as much a collectible as it is a fashion accessory. “This collection represents our most ambitious work to date, embodying both luxury and durability while reflecting our brand’s commitment to high-quality design,” said Sheth, noting the connection the Marvel-inspired series has fostered with their customers.
Launched on November 11, 2024, this limited edition Iron Man collection is available exclusively on OPIUM Eyewear's website, capturing the spirit of both Tony Stark and the brand’s dedication to style and innovation in the eyewear retail market.
Relaxo Footwears, a major player in the Indian footwear industry, reported a 5 percent decline in its revenue for the second quarter, amounting to Rs 679 crore as compared to Rs 715 crore in the corresponding quarter of the previous fiscal year. For the first half of the financial year 2025, Relaxo’s revenue stood at Rs 1,428 crore, while its net profit was recorded at Rs 81 crore.
Ramesh Kumar Dua, Chairman and Managing Director of Relaxo addressed, “The company reported a decline in revenues during the quarter as the overall demand remained subdued. During the quarter, the industry witnessed an increase in lower-priced unorganized competition, which led to downtrading by consumers in a high inflation environment,” he stated. This increased competition from informal sector players put pricing pressures on the organized footwear industry, particularly during a period marked by economic uncertainty and tightened consumer spending."
Despite these hurdles, Relaxo is actively pursuing strategic initiatives to bolster its market presence and maintain long-term sustainability.
Dua further elaborated, “The company is in the process of adding new distributors to our network, to ensure Relaxo’s presence in each district of the country. Further, in line with our continued focus on cost efficiencies, we are working on optimizing our backend operations, which would enable the company to deliver a sustainable performance in the future.”
The company's strategy includes streamlining backend processes and focusing on cost control to improve operational efficiency. Relaxo is also exploring innovative ways to enhance customer engagement. Its retailer connect initiative, facilitated through the Relaxo Parivaar mobile application, has demonstrated promising results by reaching over 70,000 retail outlets across India and contributing to consistent monthly growth in secondary sales.
Additionally, Relaxo is prioritizing premiumization through partnerships with global entertainment giants. Collaborations with Disney and Marvel have led to the launch of a new collection featuring themed designs, aiming to attract younger consumers and enhance the appeal of its Sparx, Flite, and Bahamas brands.
With a strong legacy in the footwear market, Relaxo operates over 405 exclusive-brand outlets across India. Its diverse product portfolio and commitment to innovation, coupled with its plans for expanding its distribution network and optimizing internal operations, underscore the company's dedication to delivering high-quality, affordable footwear solutions to Indian consumers. While market challenges persist, Relaxo remains focused on long-term growth, leveraging strategic collaborations, operational improvements, and a deeper market reach to sustain its position as one of the country’s leading footwear brands.
Snitch, a known brand in India’s retail and men’s fashion scene, has unveiled a new feature called "Worth the Wait" (WTW), designed to offer customers early access to upcoming trends and styles. This addition aims to provide fashion-forward shoppers with a first look at new collections, further enhancing Snitch’s presence in India’s evolving retail landscape.
Every Thursday, Snitch will showcase upcoming collections under a dedicated "Dropping Soon" tab on its platform. With the WTW feature, users can preview and add their preferred styles to a wishlist ahead of their official release. This feature allows customers to plan their purchases and stay on top of current fashion trends.
Snitch is also offering exclusive discounts within the first six hours of each new launch, giving early customers an opportunity to buy new arrivals at a lower price point. This initiative is intended to reward customers who engage early with Snitch’s latest offerings.
Siddharth Dungarwal, Founder and CEO of Snitch stated, “We’ve always focused on more than just keeping up with trends; it's about creating a seamless and rewarding experience for our customers. ‘Worth the Wait’ is our way of ensuring that our community not only gets first access to the latest styles but also enjoys a unique advantage with exclusive offers. It’s all about bringing even more value to the people who trust us to keep them ahead in the fashion game.”
For those interested in trying out "Worth the Wait," the Snitch app offers a convenient platform to explore and stay updated on new collections, providing customers with an engaging shopping experience.
Novamax, a key player in the air cooling industry, has successfully shipped over 8,000 units of its premium air coolers to global markets, including Dubai, Kuwait, Nepal, Sri Lanka, the USA, Africa, and Bangladesh, during the last season. With this accomplishment, the company continues to strengthen its presence in retail markets across India and worldwide, meeting demand for efficient, affordable cooling solutions in diverse climates.
This shipment milestone reinforces Novamax’s standing in international markets, recognized for providing durable, energy-efficient cooling solutions tailored to extreme climates. The company’s focus on high-performance technology aligns with its mission to address the cooling needs of various regions sustainably.
Harshit Aggarwal, CEO and Founder of Novamax Appliances stated, “We are excited to see our air coolers gaining widespread acceptance across diverse international markets. This major accomplishment not only underscores the trust our customers place in our products but also reflects our commitment to providing reliable, eco-friendly cooling solutions tailored to varying climates around the world. Our mission is to enhance comfort and quality of life by delivering high-performance air coolers that combine affordability with advanced technology. We look forward to building on this momentum and expanding our reach to even more regions globally.”
With plans for continued expansion, Novamax aims to bring its advanced air cooling technology to more households and businesses worldwide, maintaining a focus on quality and affordability across its product line.
ASICS SportStyle has unveiled the GEL-NIMBUS 10.1 sneaker, crafted with an updated design that brings together key elements from the original 2008 GEL-NIMBUS 10 model. Built for retail markets in India and globally, this sneaker integrates enhanced features to meet the demands of everyday wear.
The GEL-NIMBUS 10.1’s upper features iconic details, such as the asymmetric paneling and open mesh construction, which were part of the original design. This configuration was initially created to provide a comfortable fit that aligns with the natural bone structure of the foot. Additionally, a seamless mesh panel with a geometric pattern adds a unique touch to the quarter mesh application, reinforcing the shoe’s focus on accommodating fit.
Drawing from mid-2000s ASICS running shoe designs, the GEL-NIMBUS 10.1 incorporates segmented midsole elements inspired by industrial aesthetics. This tooling system includes dual-layer EVA foam, along with GEL technology inserts in the forefoot and rearfoot, and a TRUSSTIC support unit. Together, these features aim to enhance cushioning and stability, making the sneaker a suitable choice for all-day comfort in a variety of settings.
Zivame, the online lingerie retailer, has reported a 34 percent increase in its net loss, which has risen to Rs 39 crore for the fiscal year ending March 2024. This marks a significant deterioration compared to the previous fiscal year, according to data from business intelligence platform Tofler.
The company has also faced a significant dip in sales during the year. According to Tofler, Zivame's revenues for the financial year 2023-24 stood at Rs 193 crore, reflecting a 42 percent decline from the previous year. The data, sourced from the Registrar of Companies (RoC), highlights a troubling trend for the online lingerie giant.
In terms of expenses, Zivame’s total expenditure for the year amounted to Rs 234 crore, further adding pressure to its financial performance.
Zivame was acquired by Reliance Retail in 2020 for approximately $160 million as part of Reliance's strategy to expand its presence in the lingerie segment. This acquisition was followed by the purchase of other lingerie brands such as Clovia and Amante.
Reliance Industries Chairman Mukesh Ambani expressed the strategic importance of these investments during the company's annual general meeting in August, saying, “Our investments in brands like Kalanikethan, Zivame, Clovia, Amante, and Urban Ladder have given us a strong foothold in these categories.”
Looking ahead, Wazir Advisors forecasts significant growth for India’s innerwear market, predicting it will reach Rs 75,466 crore by 2025, up from Rs 61,091 crore in 2023. Women’s innerwear and comfort wear dominate this market, comprising 60% of the total value, according to Wazir.
Despite the financial difficulties faced by Zivame, the Indian innerwear market continues to show strong growth prospects. According to a report by Wazir Advisors, the market for innerwear in India is projected to expand significantly, reaching Rs 75,466 crore by 2025, up from Rs 61,091 crore in 2023. Women’s innerwear and comfort wear make up a dominant share of this market, accounting for 60 percent of its total value. This growth presents a significant opportunity for Zivame and its competitors as they work to capture a larger portion of this burgeoning market.
DOMS Industries Limited, a company focused on manufacturing and marketing a diverse range of products for kids, children, and young adults, has announced its financial results for Q2 and H1 FY2025, showing strong performance amidst a challenging market environment. The company continues to see growth in both its domestic and export markets, particularly driven by its stationery, writing instruments, and recent expansion into the baby hygiene sector.
Financial Performance Highlights for Q2 and H1 FY2025
For Q2 FY2025, DOMS Industries reported a 19.7 percent year-on-year (Y-o-Y) increase in revenue, reaching Rs 457.8 crore compared to Rs 382.4 crore in Q2 FY2024. The company's EBITDA grew by 31.7 percent, reaching Rs 85.9 crore, while the EBITDA margin increased to 18.8 percent from 17.1 percent in Q2 FY2024. The PAT (Profit After Tax) for Q2 FY2025 rose by 42.8 percent to Rs 53.7 crore, with a PAT margin of 11.7 percent, compared to 9.8 percent in the previous year.
For the half-year period, revenue from operations for H1 FY2025 grew by 18.5 percent to Rs 902.8 crore from Rs 761.8 crore in H1 FY2024. EBITDA increased by 35.2 percent to Rs 172.3 Cr, with an EBITDA margin of 19.1 percent, up from 16.7 percent in H1 FY2024. PAT for H1 FY2025 saw an increase of 46.1 percent, totaling Rs 108.0 crore, with a PAT margin of 12.0 percent, compared to 9.7 percent last year.
Operational and Strategic Developments
DOMS Industries has also focused on expanding its operational capabilities. The company has completed the acquisition of a 51.8 percent stake in Uniclan Healthcare, a firm involved in the production of baby hygiene products, such as diapers and wipes. This acquisition marks a key step in the company's transition to a diversified product company catering to a broader market segment, including the growing needs of young children.
Additionally, the company has increased its manufacturing capacity across several product categories:
DOMS also continues to expand its product offerings with new highlighter and single-use marker pens, as well as additional SKUs across its stationery, adhesives, and fine art ranges. The company’s retail presence has grown as well, with its retail footprint expanding from 1,25,000+ stores to 1,35,000+ stores across India.
Launch of the Second DOMS Painting Studio
To engage its young audience, DOMS inaugurated its second DOMS Painting Studio at KidZania in the NCR region, following the success of its first studio in Mumbai. This initiative provides children with an interactive experience, allowing them to explore artistic roles using DOMS’ innovative product range.
Santosh Raveshia, Managing Director of DOMS Industries Limited shared, “We continued our resilient performance for Q2 FY2025 despite a challenging market environment. This growth is largely driven by an increase in sales of writing pens, adhesives, and kits and combination packs, as well as the positive impact of the Uniclan acquisition. We thank our entire team and channel partners for their efforts in helping us achieve this growth despite difficult conditions in both domestic and export markets due to geopolitical tensions. Domestic sales, which now account for 85% of our total sales, remain the primary driver of growth. We anticipate improvement in the domestic demand environment post-festive season, especially with the back-to-school period approaching."
Raveshia added, “The completion of the Uniclan acquisition has allowed us to tap into the baby hygiene segment, with the introduction of DOMS Wowper branded Baby Diapers. We are optimistic about the growth potential in this segment, as we continue to increase our manufacturing capacities and expand our product offerings.”
With a clear focus on long-term growth, DOMS Industries plans to continue its expansion into new product categories and markets. The company is actively working on its strategic initiatives, including product development, capacity enhancement, and market expansion for the baby hygiene segment.
Raveshia concluded, “With our strong foundation and the successful implementation of our strategic initiatives, we are confident that we will continue to fuel our growth momentum and ensure a continued upward trajectory.”
As DOMS Industries continues to adapt to changing market conditions, its efforts in diversification and operational expansion are positioning the company for sustainable growth in the years to come.
Simpli Namdhari’s, India’s only 100 percent vegetarian omni-channel retailer with a strong history in Karnataka’s farming and retail sectors, has launched a new initiative titled ‘Vocal for Local.’ Launched on Karnataka Rajyotsava, November 1st, this program aims to provide a premium retail platform to support local FMCG brands with limited resources, enabling them to reach broader audiences without incurring high listing fees.
Under the ‘Vocal for Local’ initiative, Simpli Namdhari’s will select five innovative FMCG food brands each quarter to be featured in its stores, providing these brands with shelf space and sampling opportunities. This initiative specifically targets emerging bootstrapped brands from Karnataka, particularly those founded by entrepreneurs who face challenges reaching wider markets. The selected brands will have the opportunity to present unique, category-first products to customers through in-store visibility and sampling opportunities.
Gurmukh Roopra, Group CEO of Namdhari Group said, “We are deeply connected to Karnataka and committed to fostering its diverse entrepreneurial spirit. This initiative aligns with our mission to uplift local brands, offering them a pathway to growth that otherwise would be out of reach. By nurturing grassroots innovation, we are championing these brands and the community and economy they represent.”
This approach aims to benefit the brands most in need of support, creating economic opportunities, promoting job growth, and fostering community connections.
Roopra said, “Supporting local businesses has a ripple effect on the community. Every purchase boosts our local economy, creates jobs, and keeps money circulating within the region.” With a ‘Karnataka-first’ focus, Simpli Namdhari’s continues to lead efforts to empower local businesses, reflecting its commitment to building a resilient community by providing a platform for the region’s small-scale brands to succeed.
Through ‘Vocal for Local,’ Simpli Namdhari’s is paving the way for a vibrant retail environment in India, dedicated to local prosperity and community-driven growth.
Piccadily Agro Industries Limited (PAIL), recognized as India’s largest independent malt spirits manufacturer and producer of notable brands like Indri Single Malt and Camikara, India’s first pure cane juice rum, has reported substantial growth in Q2 FY25. With a focus on India’s retail market and increased demand for premium spirits, Piccadily achieved notable increases in both sales and profitability.
For Q2 FY24-25, Piccadily recorded a standalone Profit Before Tax (PBT) of Rs 33.04 crore, a rise of 106.50 percent from the previous year, alongside an EBITDA of Rs 43.63 crore, marking a 74.45 percent growth compared to Q2 FY23-24. Additionally, the company's Net Revenue from Operations stood at Rs 200.52 crore. The Net Profit Margin also improved, increasing from 9.72 percent to 12.44 percent year-over-year, while Earnings Per Share (EPS) grew by 109.52 percent, reaching Rs 2.64.
The company's distillery segment, driven by demand for its premium brands, played a key role in this profitability boost.
Q2 FY24-25 Highlights for Premium Alco-Bev Brands:
Harvinder Chopra, MD of Piccadily Agro Industries Limited said, “Our Q2 results underscore the remarkable growth potential of India’s premium alco-bev sector and Piccadily’s leading role in redefining this landscape. A 106.50 percent increase in PBT and 74.45 percent rise in EBITDA over the previous year’s quarter showcase not only the strength of our brands but also the escalating global demand for Indian spirits. Indri Single Malt and Camikara have struck a chord with a discerning new generation of consumers seeking quality and authenticity. We’re witnessing a pivotal shift in the market, and with demand outpacing supply, we are committed to expanding our production and solidifying India’s position on the world spirits map.”
With demand for premium spirits on the rise, Piccadily Agro’s results highlight the strong position of India’s alcohol retail sector, supported by increasing consumer interest in high-quality, authentic Indian brands.
Swopstore, a customer acquisition platform focused on retail, has entered into a strategic partnership with two prominent Aditya Birla Group fashion brands, Aurelia and W, enabling Swopstore’s platform users in India to access exclusive offers with these brands. With over 200 brands already participating on the platform, including Mokobara, Snitch, and Bombay Shaving Company, Swopstore aims to connect consumers with suitable brands in a streamlined manner.
The partnership will offer consumers special incentives and tailored experiences with Aurelia and W, both recognized for their distinctive styles and quality. Ayush Gupta, CEO and Co-Founder of Swopstore said, “We’re excited to work with Aurelia and W, two of the most trusted names in fashion. Our platform is all about creating meaningful connections between consumers and brands, and this collaboration allows us to bring more value and convenience to our users. We believe that with Swopstore, shopping is no longer just about purchasing products – it’s about discovering the right products in the most engaging and rewarding way.”
Swopstore’s approach to customer acquisition emphasizes brand discovery and consumer engagement, offering brands a platform to expand their reach while rewarding consumers. By delivering personalized recommendations and rewards, Swopstore makes exploring new brands simple for users.
Additionally, Swopstore recently announced a collaboration with Swiggy, giving users access to exclusive discounts on food delivery services. This expansion allows Swopstore to engage with new customer segments, broadening the range of benefits across both retail and food delivery.
With these strategic alliances, Swopstore continues to advance its goal of making customer acquisition more accessible and impactful, benefiting consumers and brands alike across various sectors.
Whirlpool of India Ltd, a prominent player in the consumer durables sector, reported a significant 40.13 percent rise in its consolidated net profit for the September 2024 quarter, reaching Rs 53.53 crore. This growth, driven by volume expansion and strategic cost management measures, marks a notable improvement from the Rs 38.20 crore net profit recorded during the same period in the previous fiscal year. Whirlpool of India, a subsidiary of Whirlpool Corporation, disclosed these results in a regulatory filing, underlining its continued focus on operational efficiency and market growth.
The company also reported a robust 12.58 percent year-on-year increase in revenue from operations, which stood at Rs 1,713 crore for the quarter, compared to Rs 1,521.56 crore a year earlier. Whirlpool attributed this revenue surge to a strong performance in its key product categories, notably refrigerators and washing machines. “Revenue growth was driven by strong volume share growth in Refrigerators and Washers compared to last year as well as more premium product mix driving value growth,” the company stated in its earnings report.
Profitability was further bolstered by initiatives aimed at enhancing cost productivity and optimizing the mix of high-margin, premium products. These measures helped improve the company's overall margins, even amid a challenging market environment. Total expenses for the quarter climbed by 12.35 percent, reaching Rs 1,688.95 crore, reflecting investments in operational efficiency and other strategic areas.
Whirlpool’s total income, which includes other income streams, saw a 13.3 percent growth, amounting to Rs 1,762.32 crore during the period under review. This highlights the company’s efforts to diversify and strengthen its income base.
“We continue to deliver strong and profitable share growth, which is in line with our long-term strategy, while the overall industry for refrigerators and washers was flattish in Q2,” said Narasimhan Eswar, Managing Director, Whirlpool of India Ltd.
Whirlpool of India has maintained a strategic focus on premium product offerings, enhancing its market competitiveness and meeting the evolving preferences of Indian consumers. The push towards a more premium product mix is part of a broader strategy to solidify its position as a leader in home appliances, catering to the growing demand for high-quality and feature-rich products.
On the stock market front, shares of Whirlpool of India Ltd ended 1.65 percent lower, trading at Rs 2,041.65 per share on the BSE. This movement reflects broader market dynamics and investor sentiments, as the company continues to position itself for sustainable, long-term growth.
Whirlpool’s consistent focus on operational excellence, product innovation, and market expansion has allowed it to weather market fluctuations effectively while maintaining strong profitability and growth potential in a competitive landscape.
AkzoNobel India, the maker of Dulux Paints, reported a 4 percent increase in its second-quarter profit, primarily driven by stronger demand from the automotive sector, which offset weaker retail demand. The company's consolidated net profit for the July-September quarter rose to 979 million rupees ($11.61 million), compared to 942 million rupees in the same period last year. Revenue from operations grew by 3 percent, reaching Rs 9.82 billion.
This performance contrasts with the weaker quarterly results of its competitors, who faced challenges due to higher rainfall and price hikes. For example, Berger Paints India reported a larger-than-expected decline in quarterly profit earlier this week.
Paint manufacturers, including Akzo Nobel, raised prices in the second quarter amid growing competition following Grasim Industries' entry into the sector earlier this year. Additionally, India experienced higher-than-usual rainfall, causing flooding and subdued demand for paints in key markets.
Creaticity, a key player in India’s retail sector for furniture and décor, has partnered with Thailand's Index Living Mall (ILM), marking ILM's official entry into the Indian market. Launched at a recent event at Creaticity’s Pune campus, this collaboration aims to bring an extensive range of ILM’s furniture and décor solutions to Indian consumers, responding to the growing demand for international home decor brands in India.
With over 30 years of expertise, Index Living Mall has established itself as a market leader in Thailand, combining retail expertise in furniture and home décor under one brand. Operating since 2002, ILM has expanded to 32 branches across Thailand and holds a 34 percent share in the modern retail furniture segment. The company maintains an in-house design team, collaborates with international furniture designers, and manufactures over 70 percent of its products domestically, positioning it strongly within the global retail industry. ILM’s success has led to a franchise presence across six countries, including Vietnam, Cambodia, Laos, Myanmar, the Maldives, and Nepal, now extending to India through its association with Creaticity.
This partnership reflects a strategic step for both Creaticity and ILM. For Index Living Mall, this venture supports its growth into the Indian market, leveraging India’s expanding retail potential and consumer base. As a listed company on the Stock Exchange of Thailand, ILM brings significant financial stability and corporate governance expertise to this collaboration. Creaticity, meanwhile, strengthens its House of Brands portfolio with ILM’s addition, reinforcing its position as a curator of global lifestyle brands in India’s furniture and décor market.
Mahesh M, CEO of Creaticity, remarked, “We are thrilled to welcome Index Living Mall to the country. This association aligns perfectly with our vision of bringing world-class and affordable home furnishing solutions to Indian consumers, beginning with the design-forward and aspirational city of Pune. ILM's innovative designs and comprehensive product range, combined with our deep understanding of the Indian market, will create a unique value proposition for our customers. We're confident that this association will accelerate the organized growth of home furniture and décor retail in India.”
Index Living Mall’s entry into India will introduce a diverse array of furniture and décor products, including living room and bedroom furniture, dining room sets, home office solutions, and accessories. Established by Pisit Patamasatyasonthi, ILM’s design philosophy emphasizes continuous innovation and functionality, offering products that blend quality with affordability to meet modern lifestyles. The brand’s offerings span living and bedroom furniture, mattresses, office and kitchen furniture, and a wide range of home solutions, décor, and bedding.
Gerard McGurk, Head of Retail and Commercial Operations at ILM said, “India's vibrant and dynamic market presents an exciting opportunity for Index Living Mall. As a consistent market leader in Southeast Asia, we have a deep understanding of customer tastes, and we are proud to bring our innovative designs and comprehensive product range to Indian consumers through our exclusive franchise association with Creaticity. Our goal is to offer high-quality, stylish, and functional home furniture and furnishings that resonate with the tastes and preferences of Indian customers. We believe that our blend of global trends with Asian sensibilities will create a unique and sustainable appeal in the market.”
The partnership targets urban middle to upper-middle-class families, young professionals, and design-conscious individuals in India who prioritize quality and style in home furnishings. To connect with this audience, Creaticity and ILM have developed a multi-channel marketing strategy that includes digital marketing, experiential retail experiences, collaborations with local designers, and customer loyalty programs. Additionally, ILM products will soon be available online, expanding accessibility for Indian consumers.
As part of the launch, Creaticity opened a 32,000-square-foot retail showroom dedicated to Index Living Mall, showcasing immersive displays of ILM’s product range and highlighting the functionality and aesthetic appeal of its offerings for the Indian market.
Both Mahesh and Gerard expressed confidence in the Indian market’s readiness for ILM’s product lines, supported by Creaticity’s expertise. The Pune showroom is ILM’s first large-format store in India, with plans to systematically expand across the country, catering to evolving retail needs in the furniture and décor industry.
Samsung India Electronics reported a twofold increase in its net profit for FY24, reaching Rs 8,188.7 crore, while revenue from operations rose 3 percent to Rs 99,541.6 crore, as per financial data obtained through business intelligence platform Tofler. In comparison, the company's net profit for the fiscal year ending March 31, 2023, stood at Rs 3,450.1 crore, with revenue from operations at Rs 96,632.4 crore.
For FY24, Samsung India recorded revenue of Rs 60,817.9 crore from the domestic market and Rs 38,723.7 crore from exports. The company's total income, including other sources, surpassed the Rs 1 lakh crore mark, reaching Rs 1,02,628.3 crore for the year ending March 31, 2024—a milestone achieved within five years, as per Tofler data.
Revenue from the hand-held phones segment, encompassing mobile phones and accessories, increased by 1.37 percent to Rs 71,157.6 crore. However, revenue from the home appliances segment, which includes washing machines, air conditioners, refrigerators, and microwaves, saw a decline of 3.93 percent, totaling Rs 10,101 crore compared to Rs 11,814.8 crore in the previous year.
Samsung India's profit before tax for FY24 also doubled to Rs 10,982 crore. An email seeking comments from Samsung India Electronics on the financial data remained unanswered at the time of reporting.
The company reported a 34.4 percent rise in revenue from other sources, amounting to Rs 3,086.7 crore. Total expenses for Samsung India Electronics were reduced by 2.28 percent, standing at Rs 91,644.5 crore compared to Rs 93,792.2 crore a year earlier.
Samsung India's advertising and promotional expenses grew by 5.43 percent to Rs 3,781.6 crore. Meanwhile, royalties paid to the parent South Korean company surged by 50 percent to Rs 3,322.4 crore in FY24. The mobile phone business continues to contribute significantly to Samsung India's overall revenue.
Tata Group’s retail company, Trent Ltd, reported a 46.9 percent increase in its consolidated net profit, totaling Rs 335.06 crore for the second quarter ending September 2024. This marks a notable improvement from the Rs 228.06 crore net profit recorded during the same period in the previous fiscal year. The performance was disclosed in a regulatory filing released by Trent, which operates a diverse range of retail formats, including Westside, Zudio, and Star.
The company's consolidated revenue from operations surged by 39.37 percent year-on-year to reach Rs 4,156.67 crore during the quarter, up from Rs 2,982.42 crore in the corresponding quarter of the previous fiscal year. The revenue growth was primarily attributed to strong sales momentum across its brand portfolio, driven by an expanding store network and improved consumer engagement. Despite this growth, Trent's total expenses also saw a substantial rise of 48.49 percent, amounting to Rs 3,743.61 crore for the quarter.
In its earnings statement, Trent emphasized its continued expansion in the retail market. As of September 30, 2024, the company operated 226 Westside stores, 577 Zudio outlets, and 28 stores representing other lifestyle concepts. “During the quarter, we opened 7 Westside and 34 Zudio stores (including 1 in Dubai) across 27 cities. We also consolidated 9 Westside and 16 Zudio stores,” the statement noted. The expansion reflects Trent’s strategy to strengthen its footprint both in India and select international markets.
Chairman Noel N Tata acknowledged the challenging retail environment during the period, citing subdued consumer sentiment and the impact of seasonality. He said, “Consumer sentiment has remained relatively muted. This coupled with seasonality has meant that retail businesses have faced headwinds. In the foregoing context, the team has delivered strong results across brands, concepts, categories, and channels in Q2.” Despite market challenges, Trent's diversified retail offerings and effective execution contributed to its growth trajectory.
The company’s Zudio brand has been a key driver of growth, attracting a broad customer base through affordable fashion offerings. Similarly, Westside has continued to cater to consumers with its range of apparel, accessories, and home décor products. Trent’s expansion strategy also includes enhancing its digital presence to complement its brick-and-mortar stores, thereby capturing more market share in an increasingly competitive landscape.
During the quarter, Trent also focused on consolidating its existing store network to optimize operations and enhance customer experiences. This move is aligned with its efforts to boost profitability while maintaining consistent growth across various formats.
On Thursday, shares of Trent Ltd closed at Rs 6,498.45 on the BSE, reflecting a 6.54 percent decline from the previous close. The decline comes amid broader market trends and investor reactions to sector-specific factors, although analysts remain optimistic about Trent’s potential for sustained growth through strategic initiatives and market expansion efforts.
United Breweries Limited (UBL) has introduced its premium beer brand, Amstel Grande, to the Indian retail market. The launch event, held in Mumbai, showcased the brand's Dutch heritage with a theme inspired by the streets of Amsterdam. This move marks UBL’s push into the premium beer segment in India, leveraging over 150 years of brewing expertise.
The event, attended by celebrities like Aditya Roy Kapoor, Rannvijay Singha, Varun Sood, Raghu and Rajiv, Kusha Kapila, Jim Sarbh, Barkha Singh, and Ahsas Channa, highlighted the brand's potential to reshape India’s premium beer landscape. Amstel Grande is crafted with a focus on quality, incorporating a slow-brewing process that enhances its flavors. The beer, brewed using fine-quality barley, Dutch yeast, and selected hops, promises a smooth and rich taste.
Vikram Bahl, Chief Marketing Officer of United Breweries said, "We're thrilled to unveil Amstel Grande, a premium strong beer crafted for the refined tastes of Indian consumers. Through its meticulous slow brewing process and high-quality ingredients, Amstel Grande delivers a truly unique beer experience. Tailored to the Indian market, it’s poised to satisfy the rising demand for premium beers and we are confident it will surpass expectations."
Amstel Grande, drawing on the legacy of Amstel beer—created in Amsterdam in 1870—is now set to make its mark in India. As one of Heineken's brands, Amstel Grande combines Dutch brewing traditions with local preferences. The beer is available in 330ml, 500ml, and 650ml sizes and is designed to meet the growing demand for premium beer among Indian consumers.
The product’s local development, alongside its international standards, positions it as a flagship offering for UBL in the premium beer category. The beer’s packaging reflects its Dutch origins, featuring designs of iconic Amsterdam landmarks. Initially launched in Maharashtra, Amstel Grande will soon expand to other states. Pricing is competitive, with the 330ml bottle priced at Rs 160, the 500ml can at Rs 195, and the 650ml bottle at Rs 250. The beer is available at leading outlets across Maharashtra.
iD Fresh Food, a leading name in India’s retail food sector, is intensifying its pan-India expansion strategy. The Bangalore-based company recently announced its entry into Ahmedabad, further extending its reach in the fresh, natural food market. The brand, known for its preservative-free products, is introducing its popular offerings, including idli-dosa batter, Malabar Parota, Wheat Lachha Paratha, Paneer, Curd, and Coffee to the city. iD Fresh also plans to launch additional products such as Spices and Chutneys in the near future.
Rajat Diwaker, CEO (India), iD Fresh Food said, “We’re thrilled to bring iD Fresh’s authentic, natural and preservative-free products to the vibrant city of Ahmedabad. Ahmedabad is an important market for us, given its rich food culture and consumers who appreciate natural and traditional flavours. Our expansion here is a key step in our pan-India growth strategy, and we are confident that our products will resonate well with the city’s families who value authenticity and quality.”
This move is part of iD Fresh’s broader growth strategy across India, coming off a strong performance in FY 2024, where the company reported a revenue of Rs 554 crore. iD Fresh is targeting a revenue of Rs 700 crore for FY 2025, marking a significant 16 percent increase in operating revenue, up from Rs 340.9 crore in the previous year.
The company’s expansion plan reflects its ongoing efforts to improve product accessibility and availability nationwide. While the current focus remains on distributing core products widely, future plans will be shaped by market performance and consumer feedback in each city.
iD Fresh is known for its commitment to providing preservative-free, natural, and authentic food products, driving India’s fresh food movement. By emphasizing homemade-style preparation free from chemicals and artificial additives, iD Fresh aims to offer wholesome and healthy alternatives that preserve the nostalgic taste of traditional meals. The brand seeks to complement rather than replace the cherished flavors of home-cooked food.
In line with its strategy, iD Fresh Food products will be available across both online and offline retail channels. Additionally, the company plans to establish distribution centers in Ahmedabad within a couple of months to support its retail network.
Aditya Birla Fashion and Retail Ltd (ABFRL) reported a consolidated net loss of Rs 214.70 crore for the September 2024 quarter, widening from a net loss of Rs 200.34 crore in the same period last year, according to a regulatory filing on Thursday.
The company’s revenue from operations for the quarter was Rs 3,643.86 crore, up from Rs 3,226.44 crore in the corresponding quarter of the previous year.
"Consolidated net profit was impacted on account of higher depreciation/amortization for brand & retail assets due to the inclusion of TCNS (clothing company) and higher interest costs on account of elevated borrowings," ABFRL said in its earnings statement.
The consolidated results for the quarter ended September 30, 2024, are "not comparable with previous quarters" due to the amalgamation of TCNS Clothing and the acquisition of Goodview Fashion Private during the current quarter, the Aditya Birla group firm said. Total expenses for the quarter stood at Rs 3,993.56 crore.
"Businesses achieved consistent growth this quarter, despite a subdued consumption environment, driven by sustained focus on driving product enhancements, elevated customer experiences, and brand refresh," ABFRL stated.
The company noted that growth was primarily led by newer businesses operating in emerging consumer segments, while its established brands continued to focus on improved profitability. "While ABLBL (Aditya Birla Lifestyle Brands Ltd) reported sustained margins, the demerged ABFRL posted a sharp recovery in margins across its constituent businesses," the company added.
Revenue from the 'Madura Fashion & Lifestyle' segment was Rs 1,861.75 crore for the quarter, while Pantaloons' revenue stood at Rs 4,082.16 crore, with the Ethnic and Other business segment generating Rs 755.42 crore.
ABFRL recently announced the demerger of its Madura business into a separately listed entity named ABLBL. This new entity will include lifestyle brands such as Louis Philippe, Van Heusen, Allen Solly, Peter England, Simon Carter, as well as youth-focused western wear brands like American Eagle and Forever 21. It will also house the sportswear brand Reebok, for which it holds a long-term licensing agreement for the Indian market.
ABFRL itself will continue to operate its retail businesses under Pantaloons and Style Up, along with a range of ethnic brands, including designer-led labels such as Sabyasachi, Shantanu & Nikhil, House of Masaba, and Tarun Tahiliani, as well as premium ethnic brands like Jaypore, Tasva, and the TCNS portfolio.
As of September 30, 2024, ABFRL’s network included 4,538 stores, nearly 37,952 multi-brand outlets, and 9,047 points of sale in department stores across India. Its portfolio features brands such as Louis Philippe, Van Heusen, Allen Solly, Peter England, and Pantaloons, and it retails international brands like Ralph Lauren, Hackett London, Ted Baker, Fred Perry, Forever 21, American Eagle, Reebok, Simon Carter, and Galeries Lafayette.
On Friday, shares of Aditya Birla Fashion and Retail Ltd were trading at Rs 303.25 apiece on the BSE, down 2.16 percent.
Cushman and Wakefield’s recent Q3-2024 Retail MarketBeat Report highlights the continued strength of India’s retail sector, with main streets leading the growth in the top eight cities. As retail leasing across India’s prime streets reached 1.6 million square feet (MSF) in Q3, main streets accounted for a significant 68 percent of this volume. Hyderabad, Delhi-NCR, and Chennai represented a substantial 70 percent of total main street leasing. Robust demand drove rental growth in key areas, with Delhi NCR, Bengaluru, Chennai, and Kolkata witnessing rental increases of up to 15 percent year-over-year.
Retail Leasing and Rental Growth by City
Delhi NCR led with a 13-15 percent annual rental growth, while Bengaluru and Chennai each saw a 12-14 percent increase. Mumbai had a 5-7 percent rise, while Kolkata and Ahmedabad followed closely with growth of 8-14 percent.
Delhi NCR recorded a retail leasing volume of 0.3 MSF for the quarter, with main areas like Gurugram and Delhi holding 44 percent and 42 percent, respectively. Main streets such as Galleria Market in Gurugram saw rental growth of 20 percent year-over-year, while Khan Market experienced a 7 percent increase.
In contrast, mall leasing activity was subdued, constituting 32 percent of the overall leasing volume. This decline is attributed to limited new mall supply in Q3-2024, with no new mall launches during the quarter, resulting in tighter vacancy rates for Grade-A malls across major cities.
Vacancy Rates and Demand Dynamics
Grade-A malls saw vacancy reductions due to high demand from international brands, which contributed to approximately 30 percent of mall leasing volume for the year-to-date. Cities such as Bengaluru, with a 5.35 percent vacancy rate, and Hyderabad, at 1.5 percent, reported significant drops in available space.
The upcoming quarter is expected to bring a wave of new retail supply, with an estimated 1.8 MSF of Grade-A mall space slated for Mumbai, Delhi-NCR, and Pune, potentially easing the current demand pressure.
Regional Leasing Activity Overview
Saurabh Shatdal, Head of Retail and Managing Director, Capital Markets at Cushman and Wakefield said, “The Indian retail sector is evolving rapidly, and main streets continue to record high leasing due to limited mall supply. The strong demand-supply dynamic has driven rental growth, particularly in Delhi NCR and Pune. Malls, however, faced a quieter quarter due to a lack of supply—a gap that we expect to be addressed in Q4. Retail leasing trends, led by Fashion, F&B, and Accessories, reveal a clear shift toward more discretionary spending, highlighting the evolving lifestyles of Indian consumers.”
With retail demand continuing to rise, the addition of new Grade-A mall space in Q4-2024 is expected to offer more options for brands as they expand in India’s dynamic retail market.
Imagicaaworld Entertainment Limited, a prominent player in India’s retail entertainment market, reported notable financial growth for the first half of the fiscal year ending September 30, 2024. The company achieved record revenue of Rs. 223.9 crore, marking a 59 percent year-on-year increase, with EBITDA at Rs 106.6 crore and a margin of 48 percent. Aided by increased footfall, the company recorded its highest ever attendance, with 16.2 lakh visitors, reflecting a 128 percent year-on-year rise.
In Q2 FY25, Imagicaaworld reported Rs 40 crore in revenue, compared to Rs 36 crore in Q2 FY24, and significantly reduced its quarterly losses to Rs 6.7 crore, down from Rs 57.4 crore in the same period last year. The acquisition of Lonavala and Shirdi park businesses for Rs 130 crore, funded through internal accruals, has also contributed to growth.
The integration with Giriraj Enterprises, a flagship of the Malpani Group, has strengthened Imagicaaworld's portfolio, which now includes five locations with eight parks and a five-star hotel. This merger led to doubled footfall and a 1.5x revenue increase, allowing Imagicaaworld to serve 1.6 million visitors in H1. The expanded offerings include 15 new rides across Wet‘nJoy and Sai Teerth parks, enhancing the daily visitor capacity.
Significant operational updates included the recent clearance from Surat Municipal Corporation to reopen the Surat park on November 1, 2024. New features planned for H2 include a trampoline park at Imagicaa Khopoli, two new shows at Sai Teerth, eight new rides in Lonavala, and the anticipated launch of the Indore water park by Q4.
Imagicaaworld’s Managing Director, Jai Malpani said, “The first half of this fiscal year has been landmark for us, both in terms of revenue and EBITDA growth, despite challenges in this period including national elections, heat waves, and a heavier monsoon. The consolidation and turnaround efforts by the Malpani Group have delivered tangible results with a 2x increase in EBITDA and 1.5x rise in revenue. Our goal is to raise in-park spending by enhancing the premium experience through our food and merchandising initiatives, approaching global benchmarks."
Malpani also highlighted the strong booking trends and upcoming festive season, which are expected to drive further engagement with events like the New Year Bash. “While we’ve reinvested in our parks to elevate the guest experience and boost footfall, these improvements are met with cost efficiencies across our portfolio, capturing the full benefits of consolidation synergies,” he added.
Looking ahead, Imagicaaworld is focusing on expanding into Tier-l and Tier-ll cities across India, aiming to create long-term sustainable value as it builds on its retail entertainment presence.
Kolkata-based Haldiram Bhujiawala Limited, operating under the "Prabhuji" brand, has announced the successful conclusion of its private placement, with Bharat Value Fund (BVF), managed by Pantomath, investing Rs 2350 million for a minority stake. As India’s retail snacks market continues to grow, this sector was valued at Rs 426 billion for FY24 and is projected to reach approximately Rs 955 billion by FY32, growing at a CAGR of 11 percent. Organized players like Haldiram Bhujiawala, with their diverse product offerings and quality standards, are expected to be key contributors to this expansion.
With over 60 years in the snacks and savory industry, Haldiram Bhujiawala has built strong brand recognition across Eastern and North-Eastern India, particularly with its "Prabhuji" products and quick-service restaurant chains in these regions. The brand’s recognition is supported by the endorsement of Bollywood actors Shahrukh Khan and Rashmika Mandanna, along with a modern marketing approach targeting new-age consumers.
The company operates both retail and distribution networks, reaching over 200,000 retailers nationwide through 2,000 distributors. It currently has 19 company-owned retail outlets and 60 franchise stores, and it plans to leverage the new investment to expand manufacturing and market reach beyond Eastern India. With a combined manufacturing capacity of 6,035 Metric Tonnes Per Annum (MTPA) across three facilities, Haldiram Bhujiawala is poised to increase its production and presence in new regions.
Manish Agarwal, MD of Haldiram Bhujiawala stated, “In the last 60+ years, we have cultivated a loyal customer base by offering delectable snacks and sweets. Our company has been a trendsetter, revolutionizing food habits and tastes of India. Leveraging our industry insights alongside BVF’s support, we are strategically positioned to enhance shareholder value and drive growth. This partnership lays a solid foundation for generating long-term economic benefits, ensuring a prosperous future for all stakeholders.”
Madhu Lunawat, CIO of Bharat Value Fund shared, “We are pleased to partner with Haldiram Bhujiawala Limited. With over six decades of market insight since its founding as a proprietorship in 1958, the company has a deep understanding of consumer behavior and market trends. The new generation’s sharp focus on the modern brand, ‘Prabhuji,’ is particularly noteworthy. We are highly optimistic about the food, FMCG, and consumer goods sectors, and Haldiram is well-positioned to achieve substantial growth in the years ahead.”
Bharat Value Fund, known for supporting profitable, growth-stage companies, has made six investments overall, with three in the consumer sector within the past three months. Recent investments include brands such as the personal hygiene company BumTum (Millennium Babycare Limited) and consumer durables company Aniket Metals Pvt Ltd. BVF’s recent partnership with Haldiram Bhujiawala underscores its commitment to fostering long-term growth in India’s retail and consumer goods markets.
GHD (Good Hair Day), a leading professional hair styling brand from the UK, has officially entered the Indian market, partnering exclusively with Nykaa, India’s top beauty and fashion platform. The brand will feature its innovative hair styling tools at Nykaaland 2.0 from October 25 to 27, offering a unique experience for beauty enthusiasts in India.
Known for its advanced technology and sleek, user-friendly designs, GHD has built a reputation over two decades for high-performance hair styling tools that minimize heat damage. The brand’s products, developed with cutting-edge research from the GHD labs in Cambridge, UK, ensure optimal results at a safe styling temperature of 185°C. GHD’s product portfolio includes the iconic GHD styler, which sells six units every minute worldwide, along with other styling tools such as wet-to-dry stylers, professional hair dryers, curling tongs, and innovative hot brushes.
Anchit Nayar, Executive Director and CEO of Nykaa Beauty said, “Today marks an exciting chapter for Nykaa as we proudly introduce ghd, one of the most sought-after hair styling brands, to India. At Nykaa, our mission is to democratize beauty, ensuring that everyone has access to the finest global brands right at their doorstep. ghd’s innovative and premium styling tools perfectly align with our vision of delivering exceptional quality and cutting-edge technology.”
Ross Leibbrandt, APAC Regional MD of GHD, added, “2024 is such a monumental year for ghd as we celebrate the introduction of the brand to Indian consumers in partnership with Nykaa, India’s leading beauty and fashion destination. I am confident that they are going to be impressed with ghd, and that we can become the number one preferred hair styling tool brand in India.”
In addition to the brand's product launch, GHD also introduced its “GHD Army” initiative in India, featuring four celebrity hairstylists—Yianni Tsapatori, Marce Pedrozo, Aanchal Morwani, and Florian Hurel—who will represent the brand in the Indian market over the coming months. This collaboration further strengthens GHD’s position as a leader in the hair styling industry, blending professional-grade performance with cutting-edge technology for a superior styling experience.
DLF Malls, a major player in India’s retail landscape, has introduced over 80 new brands to its properties across Delhi NCR since April, reinforcing its position as a leader in India's retail sector. This expansion spans key DLF locations including DLF Mall of India, DLF Promenade, DLF Avenue, DLF CyberHub, Horizon Plaza, and DLF Cyber Park. The new brands cater to diverse categories such as fashion, food and beverage (F&B), and beauty and wellness.
Beauty and Wellness
DLF Malls has enhanced its beauty and wellness offerings with notable luxury brands. Shoppers at DLF Mall of India can now explore Chanel, while DLF Promenade houses Armani Beauty, both offering high-end makeup and skincare products. Dior Beauty also adds a premium selection of fragrances, makeup, and skincare products to DLF Promenade, while Nykaa Luxe at DLF CyberHub and DLF Mall of India caters to beauty enthusiasts with premium offerings. For self-care services, Geetanjali Studio at DLF Mall of India and Tweak at DLF Promenade provide relaxation options. Additionally, Lovechild by Masaba adds a creative touch with its unique range of beauty products.
Food and Beverage
In response to festive demand, DLF Malls has added new dining options across its properties. New entries include P.F. Chang's at DLF Mall of India and DLF CyberHub, as well as Pirates of Grill – Grande at DLF CyberHub. Patrons can enjoy an evening out at Diablo, 145 Café and Bar, and Luka By Downtown, blending dining with live entertainment. DLF Promenade has welcomed Le Marche Select, a gourmet destination, while DLF Avenue offers coffee from Blue Tokai. Additional dining spots include California Burrito for Mexican flavors, Haldiram’s and Mustard Madras for Indian cuisine, and Yeti – The Himalayan Kitchen for Himalayan dishes. Coffee options for visitors include Camdin at DLF CyberHub and Pret A Manger at DLF Promenade. Casa Dona, Domino's at DLF CyberHub, Si Nonna’s at COMMONS, and snacks from Butter Berry offer a variety of dining choices. Boba Bhai and Beanly Coffee cater to those seeking refreshments.
Fashion
To cater to fashion-conscious shoppers, DLF Malls has brought in various fashion brands. Nike Well Collective at DLF Promenade integrates fitness and fashion, while Eské brings timeless designs to the same location. Abraham and Thakore introduces contemporary Indian fashion, complementing DLF Promenade’s offerings. Other Indianwear brands such as Sabhyata and Tasva add diversity to the retail mix. At DLF Avenue, new additions like Celio for men’s apparel and Coyuu for premium wear expand the fashion range, along with Kaarigar’s unique accessories. Iconic Kids and Baby Forest offer apparel options for children.
Jewellery and Watches
The jewellery and watches segment has also seen new additions, with Caratlane offering stylish jewellery and 10:10 by Rama Watch bringing a curated range of timepieces. Amama and Isharya add distinctive accessory options to DLF Malls’ selection.
Home and Lifestyle
In the home and lifestyle category, patrons can find stylish travel accessories from Mokobara and luggage options at Samsonite RED. Tech enthusiasts can explore Samsung's latest gadgets at DLF CyberHub.
Leisure and Entertainment
For entertainment, The Laugh Store hosts weekly shows, adding to the mix of shopping and dining experiences. Game Palacio at DLF Mall of India provides an immersive gaming space, appealing to visitors of all ages seeking leisure activities.
Pushpa Bector, Senior Executive Director of DLF Retail said, “At DLF Malls, customer centricity remains at the heart of everything we do. We continuously strengthen our categories and carefully curate a dynamic brand mix to ensure that every visit is more than just a shopping trip—it’s an immersive and holistic experience. With the addition of these new and unique stores, especially during this festive season, we are reinforcing key categories, such as fashion, beauty and wellness, and dining, to elevate the excitement for our visitors. And with many more store openings in the pipeline, we remain committed to offering a mall experience that perfectly aligns with our patrons' dynamic lifestyles and evolving preferences.”
This continued expansion of DLF Malls reinforces its strategy to deliver an engaging and multifaceted retail environment across India.
Eyewear omnichannel retailer Lenskart has reported a 5 percent increase in its profit, amounting to Rs 144 crore for the fiscal year ending March 2024, alongside a significant 33 percent surge in revenue to Rs 3,376 crore, according to data sourced from business intelligence platform Tofler. The financial growth marks a noteworthy year for the Gurugram-based company, driven by its aggressive expansion and innovative retail strategies.
Lenskart Solutions Pvt Ltd’s total annual expenses reached Rs 3,185 crore for the fiscal year, as indicated by Tofler data obtained through the Registrar of Companies (RoC). Despite the high operating costs, the company's strong revenue growth reflects its successful market penetration and strategic business model that combines physical retail stores with a robust online presence.
Over the past year, Lenskart has focused on expanding its brick-and-mortar footprint, strengthening its position as a major player in the Indian eyewear market. This includes aggressive store rollouts across key cities and tapping into international markets. The company made substantial inroads into Southeast Asia, establishing a presence in Singapore, Thailand, and Indonesia, while also entering key Middle Eastern markets such as the Kingdom of Saudi Arabia and the United Arab Emirates (UAE). This international expansion is a testament to Lenskart’s ambition to position itself as a global leader in the eyewear space.
In June 2024, Lenskart secured $200 million through a secondary investment round led by Temasek and Fidelity Management and Research Company (FMR).
Founded in 2010 by Peyush Bansal—one of the judges on the Indian television show Shark Tank—along with co-founders Amit Chaudhary and Sumeet Kapahi, Lenskart has grown to operate more than 1,100 stores across various Indian cities, including Delhi, Bengaluru, Mumbai, Ahmedabad, and Chennai, as stated on the company’s official website.
Lenskart’s retail stores and online platform offer a range of over 5,000 eyewear styles. It stands as one of the pioneers in India to incorporate robotic technology in the eyewear sector.
Emami Limited's Board of Directors reviewed the unaudited financial results for the second quarter and first half of the fiscal year ending September 30, 2024. Despite challenges in India’s retail sector, driven by high food inflation affecting consumer spending and geopolitical disruptions in international markets like Bangladesh, Emami’s overall revenue grew by 3 percent to Rs 891 crore, with domestic business increasing by 2.6 percent. The company’s core brands, including Navratna, Dermicool, and its healthcare and pain management ranges, showed steady growth.
Product Innovation Amid Retail Challenges
In Q2FY25, Emami focused on strengthening its product offerings with the launch of 11 new products. The latest additions included the DermiCool Sweat Reliever Super Active Talc, Ice Cool Shower Gel, and other personal care items such as De-Tan and Deep Cleansing Face Wash, Style Lock Shampoo, Fresh Impact Body Wash, and two EDT perfumes under the ‘HE’ brand. In the healthcare segment, Emami’s Zanducare portal introduced products like Zandu Daily Health Super Greens, Zandu Dirghayuprash, and Zandu Hair Growth Serum. The company also relaunched BoroPlus Soft, a light moisturizing cream, with updated packaging.
Resilience in International Markets
Despite geopolitical issues, Emami’s international business reported a 12 percent sales growth excluding Bangladesh, with a total growth of 6 percent in both constant currency and Rs terms for Q2FY25. The Middle East and North Africa (MENA) region significantly contributed to this performance, showcasing the resilience of Emami’s international portfolio in the face of external challenges.
Financial Performance and Future Outlook
During the quarter, Emami’s gross margins rose by 60 basis points to 70.7 percent, while EBITDA increased by 7 percent to Rs 250 crore. EBITDA margins expanded by 110 basis points to 28.1 percent. Profit Before Tax (PBT) grew by 13 percent to Rs 220 crore, with a 220-basis point margin improvement, and Profit After Tax (PAT) surged by 19 percent to reach Rs 213 crore.
Harsha V Agarwal, Vice Chairman and MD noted, "We are pleased to close the first half of the year with strong performance, achieving 6 percent revenue growth, 10 percent EBITDA growth, and a 16 percent profit increase despite macroeconomic challenges. For H2 FY25, we expect stronger offtakes driven by improved rural demand and stable seasons ahead."
Agarwal emphasized the robust performance of the international business amid geopolitical challenges, highlighting double-digit growth excluding Bangladesh. He pointed to strategic investments and new product launches as key drivers for potential double-digit revenue growth in the second half of the fiscal year.
Mohan Goenka, Vice Chairman and Whole-Time Director added, "Organized channels like Modern Trade, e-Commerce, and Institutional sales now contribute 26.6 percent to our domestic business, a 190-basis point increase in the first half. We remain committed to achieving high single-digit revenue growth and double-digit EBITDA growth for FY25."
Looking ahead to the third quarter, Emami plans to relaunch the Fair and Handsome brand and focus on Kesh King, both expected to strengthen its position in the market. With favorable winter forecasts, Goenka anticipates strong results from the company’s winter product portfolio.
Trent Limited, a key player in India’s retail sector, announced its financial results for the second quarter of the fiscal year 2025, reflecting strong growth across its portfolio. The company reported standalone revenues of Rs 4,260 crore for Q2FY25, a 39 percent increase over the previous year’s Rs 3,062 crore, with a profit before tax (PBT) of Rs 555 crore, marking a 48 percent year-on-year rise.
Expansion of Retail Footprint
Trent’s store portfolio now spans over 800 large-format fashion stores across 184 cities. As of September 30, the company’s retail network included 226 Westside stores, 577 Zudio stores, and 28 stores under various lifestyle concepts. During Q2FY25, the company opened seven Westside stores and 34 Zudio stores, including an international outlet in Dubai. In addition, nine Westside and sixteen Zudio stores were consolidated to streamline operations.
The company's retail strategy focuses on adapting product offerings, enhancing store locations, and optimizing supply chains to align with strategic objectives. This approach helped achieve an operating EBIT margin of 10.8 percent for the quarter, up from 9.8 percent in Q2FY24.
Growth in Core Brands and Emerging Categories
Trent’s primary brands, Westside and Zudio, recorded double-digit like-for-like (LFL) growth, driven by a combination of consistent product value and competitive pricing. The WestStyleClub loyalty program also saw increased membership, indicating sustained brand loyalty among customers. Emerging categories, including beauty, personal care, innerwear, and footwear, continued to grow, now accounting for more than 20 percent of Trent’s total revenue.
Digital channels contributed to Trent’s growth, with Westside.com and its presence on the Tata Neu platform together comprising over 5 percent of Westside’s revenue.
Consolidated Performance and Star Hypermarket Business
On a consolidated basis, Trent reported revenues of Rs 4,394 crore for Q2FY25, a 39 percent increase over Rs 3,164 crore in Q2FY24. Consolidated PBT rose by 49 percent to reach Rs 467 crore. Although Trent’s consolidated revenues exclude sales from the Trent Hypermarket (Star) business, the profitability from this venture was included based on the equity method.
The Star business, which comprises 74 stores with two new additions in the quarter, achieved a 27 percent growth in operating revenue, with a 14 percent LFL increase. The business saw a positive response from customers, driven by its own brands and general merchandise, which now constitute over 73 percent of Star’s revenue.
Chairman’s Perspective on Market Challenges and Growth Opportunities
Reflecting on the company’s performance, Trent Limited Chairman Noel N. Tata acknowledged the subdued consumer sentiment and seasonality that impacted the retail market. “In this context, the team has delivered strong results across brands, concepts, categories, and channels in Q2,” Tata noted. He emphasized the vast market potential for building Trent’s direct-to-consumer model and expanding its store footprint for closer customer reach.
He added that Trent recently opened its first international Zudio store in the UAE and launched the Zudio Beauty concept in India as part of its strategy to explore new growth avenues. Tata also highlighted the progress of the Star business, crediting the success of Trent’s own brands for its rising customer appeal. “We are confident that this business is well poised to shift gears and deliver substantial value to customers and shareholders,” he said.
The global shift towards healthier eating habits has significantly impacted the food industry, with demand for nutritious, preservative-free food increasing. A 2022 study revealed that 61 percent of global consumers prioritize healthier options, particularly among millennials. This trend is expected to push the health food market to $1 trillion by 2027. In India, micro, small, and medium enterprises (MSMEs) are playing a key role in introducing innovative and wholesome food products. However, these businesses often face challenges, including limited resources and access to modern technology, which restrict their growth.
Naturebook, a growing MSME based in Keonjhar, Odisha, is gaining attention for its range of preservative-free, nutrient-dense foods. The company specializes in Sattu, a traditional Indian superfood, blending it with oats, flaxseeds, almonds, and cashews to cater to the increasing demand for health-conscious products. Founded by Suraj Rana in 2019, Naturebook aimed to change everyday eating habits, though like many small businesses, it faced obstacles such as competition from processed foods, lack of funds, and outdated equipment.
The company’s breakthrough came with the acquisition of state-of-the-art machinery, which enabled Naturebook to increase its production capacity from just 5 tons per year to 1,000 tons. The launch of its iNature brand, featuring products like Mix Sattu, Sugar-Free Sattu, and Ragi Powder, resonated with health-focused consumers. By the end of 2024, Naturebook had expanded to 28 towns across Odisha, achieving a turnover of Rs 2 crore.
Suraj Rana, Founder of Naturebook shared, “Raising funds to expand production or build a distribution network was tough. Competing with big brands felt like fighting a giant with a slingshot. Marketing the products, especially in an industry where convenience often trumps health, required creative strategies like word of mouth and small-scale retail. Additionally, consumer habits were slow to change. The perception that ‘healthy’ equaled ‘bland’ was deeply ingrained. We had to prove that eating healthy could also mean eating deliciously.”
The COVID-19 pandemic further intensified these challenges, causing supply chain disruptions, raw material shortages, and a drop in consumer demand. Naturebook faced a critical juncture, with production halted and no digital presence to rely on. “We were on the brink of shutting down,” Suraj recalled.
However, the company’s fortunes began to change in 2024 with support from the Prime Minister’s Formalization of Micro Food Processing Enterprises (PMFME) scheme, in partnership with Palladium as the Scheme Project Management Unit (SPMU). This program provided critical financial assistance, including a 35 percent subsidy on machinery, enabling Naturebook to modernize its equipment and scale production. Palladium also guided the company on branding, quality standards, and business opportunities.
Looking ahead, Naturebook plans to expand into Bihar, Jharkhand, and West Bengal, with an ambitious target of reaching Rs 100 crore in revenue within the next five years. The company remains dedicated to its mission of providing nutritious, preservative-free food without compromising on taste or convenience.
Naturebook’s journey highlights the potential of MSMEs to drive change in India’s food retail sector. With support from government initiatives like PMFME, small enterprises are overcoming barriers and contributing meaningfully to the market.
Amit Patjoshi, CEO of Palladium India stated, “With the support of initiatives like the PMFME scheme, brands like Naturebook have the potential to grow into industry giants, competing with established names while reshaping the food industry. By offering healthier, sustainable options, they are not only meeting the demands of health-conscious consumers but are also paving the way for a future where small enterprises drive big change, ensuring nutritious food is accessible to all.”
Infiniti Retail Ltd., part of the Tata Group and a leading player in India’s consumer durables and electronics retail sector, has announced the appointment of Shibashish Roy as the new Chief Executive Officer (CEO) of Croma, effective November 18, 2024. The decision comes as part of the company’s succession planning ahead of the upcoming retirement of current Managing Director and CEO, Avijit Mitra, in March 2025. Mitra will remain with the company as Managing Director until his retirement.
Roy, who currently serves as the Deputy CEO, has been overseeing critical areas such as store operations, eCommerce, marketing, buying, merchandising, services, and technology. His appointment reflects Croma’s strategic efforts to maintain its leadership in India’s retail market as the company continues to expand and innovate.
Naveen Tahilyani, Chairman of Infiniti Retail said, “I thank Avijit Mitra for his invaluable contribution over the last many years, and, in particular, the last nine years as CEO. He has done a remarkable job in expanding revenues, building the team, putting in place operational processes and growing the footprint with a vast network of stores across India. Today, Croma is amongst the top 3 electronic retailers in the country and is well-positioned for further growth. The appointment of Shibashish Roy is opportunely timed to ensure that he can continue building on the growth trajectory of the Company for the next fiscal and beyond. Shibashish is a committed and passionate leader who has been spearheading the efforts on Croma’s omnichannel journey with a clear focus on strengthening the brand affinity and enhancing the customer experience. I am sure this is the start of an exciting phase of profitable growth for the company. I wish the team the very best.”
With over 550 stores in more than 220 cities, Croma remains a significant player in India's retail sector. The company continues to expand aggressively, focusing on both metro suburbs and tier-ll and tier-lll cities. Through a robust omnichannel strategy, Croma integrates its in-store and online shopping experiences, further enhanced by its presence on the Tata Neu app, part of the broader Tata ecosystem.
As Croma strengthens its position in India’s retail and electronics market, the appointment of Roy is expected to ensure continued growth and a focus on evolving the customer experience.
Blue Star Limited has posted solid financial results for Q2FY25, continuing its growth trajectory from the first quarter. With strong performances across major segments, the company has capitalized on an expanding distribution network, innovation, and optimized supply chain management to drive higher revenue and profits in the retail and industrial sectors in India.
Q2FY25 Consolidated Financial Performance
Electro-Mechanical Projects and Commercial Air Conditioning Systems and Services: This segment saw revenue growth of 32.6 percent, reaching Rs 1,428.42 crore, up from Rs 1,077.21 crore in the previous year. The segment's results grew significantly to Rs 119.21 crore (8.3 percent of revenue), up from Rs 65.28 crore (6.1 percent of revenue) in Q2FY24. Growth in the infrastructure, data center, and commercial real estate sectors, along with cost-reengineering measures, contributed to this improvement.
Unitary Products: Revenue grew by 5.1 percent to Rs 767.00 crore. Despite challenges in the Commercial Refrigeration business due to regulatory changes and production delays, the room air conditioner segment maintained strong performance, supported by an enhanced distribution network.
Professional Electronics and Industrial Systems: Revenue marginally declined to Rs 80.54 crore from Rs 83.70 crore in Q2FY24. The segment's profit also fell to Rs 5.17 crore (6.4 percent of revenue), compared to Rs 12.23 crore (14.6 percent of revenue) in the previous year, impacted by supply chain delays and uncertainties following the Union elections.
For the half-year ending September 30, 2024, Revenue from Operations grew by 24.9 percent, reaching Rs 5,141.33 crores compared to Rs 4,116.40 crore in H1FY24.
Operating Profit for H1FY25 was Rs 387.14 crore (7.5 percent of revenue), up from Rs 267.69 crore (6.5 percent of revenue) in the previous year.
Net Profit for the half-year stood at Rs 264.82 crore, compared to Rs 154.14 crore in H1FY24.
Vir S. Advani, Chairman and MD of Blue Star Limited said, "The overall prospects for all our businesses continue to look promising. Room Air conditioners and Commercial Air Conditioning businesses are performing well. While the Commercial Refrigeration business faced challenges in the first half, we anticipate this impact will be temporary. Our investments in R&D, manufacturing, and digitalisation provide a stable foundation for meeting both short-term and long-term goals. We remain optimistic about the balance of FY25."
Proventus Agrocom Limited (ProV) has revealed its unaudited consolidated financial results for the first half of fiscal year 2024-25 (H1 FY2025), showcasing strong growth in both revenue and profitability. The company attributes its performance to consistent product quality, effective marketing, and ongoing product innovation, helping it expand its presence in the competitive retail market in India.
Business Highlights for the Half Year Ended September 2024:
Distribution Strengthening: Proventus Agrocom has expanded its retail presence through new partnerships in modern retail channels and appointed additional distributors to strengthen its reach in the general trade sector.
Festive Gifting Range: The introduction of a new festive gifting range has generated significant interest, with expectations for a twofold increase in sales over the previous year. This initiative aims to position ProV strongly in the premium gifting market.
New Product Launches: ProV introduced its 'Indulgence' series, which includes five varieties of chocolate-coated almonds, catering to consumer demand for snacks that combine health and indulgence. Additionally, the company revamped the packaging of its 'Fusion' trail mix to emphasize its health benefits, appealing to health-conscious consumers.
Production Capacity Expansion: Proventus Agrocom has acquired a new manufacturing facility in Surat, set to become operational by the last quarter of FY25. This facility will significantly increase production capacity, allowing the company to meet growing demand and continue its product innovation efforts.
Durga Prasad Jhawar, CEO and MD of Proventus Agrocom Limited shared, "We’re thrilled to share an impressive 49 percent year-on-year growth in ProV Brand sales, reaching Rs 213.15 crore in H1 FY25 from Rs 143.1 crore in H1 FY24. This growth is matched by a strong increase in EBITDA, rising to Rs 8.16 crore from Rs 4.46 crore in the previous fiscal half, underscoring our brand's momentum in both revenue and profitability."
Jhawar added, "Our progress this year demonstrates not only financial growth but also sets the stage for ambitious new goals. Our approach prioritizes quality, consumer responsiveness, and efficiency. Our consumers are our inspiration, and it’s their trust that fuels our drive to innovate. Our expansion strategy includes bolstering production and distribution. We are excited about our upcoming new facility near Surat—a state-of-the-art operation designed to quadruple our production capacity. This facility will enable us to expand and innovate with greater pace, bringing high-quality healthy snacks closer to households nationwide."
The company’s distribution network has also grown, with new partnerships in modern retail chains and an expanded presence in general trade sectors. Proventus Agrocom's specially crafted Diwali gifting range has received remarkable consumer response, with sales expected to double compared to the previous year. Jhawar highlighted, "Given the evolving gifting trends in the country, we see this as a significant growth opportunity for our brand, and we will continue to focus on expanding this segment in the future."
Looking ahead, Proventus Agrocom is targeting a revenue milestone of Rs 1,000 crore by 2028, with a projected compound annual growth rate (CAGR) of 32-35 percent. Jhawar concluded, "This goal reflects our commitment not just to financial success but to building a health snack brand that is preferred by households across India."
With a focus on healthier eating, Proventus Agrocom remains committed to maintaining a disciplined approach to operations and expenditures, positioning itself for further growth in the evolving food industry landscape.
Raymond Lifestyle Limited, a leading name in India’s retail sector, announced its unaudited financial results for Q2 FY25, showing steady performance amid challenging market conditions. Despite subdued demand, inflationary pressures, and weak consumer sentiment, Raymond Lifestyle’s total income stood at Rs 1,735 crore for the quarter, down 6.2 percent from Rs 1,849 crore in Q2 FY24. The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) reached Rs 242 crore, reflecting a 21 percent decrease year-over-year.
Sunil Kataria, Managing Director of Raymond Lifestyle Limited said, “Raymond Lifestyle Limited had a stable quarterly performance amidst subdued demand, weaker consumer sentiment and higher inflationary pressures. Our continued focus on retail expansion led to reaching 1,592 stores including 129 stores in Ethnix by Raymond. We have launched Sleepz and getting good responses from trade channel. Recent buoyancy has been witnessed at the start of a festive and wedding season. Going forward, we are strategically positioned to capture demand through our retail expansion plans, new product launches and marketing campaigns.”
Branded Textile Segment
Revenue for the Branded Textile segment declined to Rs 854 crore in Q2 FY25 from Rs 933 crore in Q2 FY24, primarily due to muted customer demand and the impact of “Shraadh” in September. The EBITDA margin for this segment fell to 18.9 percent from 22.2 percent in the same period last year.
Branded Apparel Segment
The Branded Apparel segment reported a slight revenue increase, reaching Rs 441 crore in Q2 FY25, up from Rs 437 crore in Q2 FY24. Despite challenging market conditions, this growth was supported by the addition of new stores. The segment’s EBITDA margin improved to 13.0 percent, up from 12.2 percent last year, driven by a focus on intake margins. During the quarter, Raymond Lifestyle added 52 new stores, including 11 ‘Ethnix by Raymond’ outlets, expanding its retail footprint to a total of 1,592 stores as of September 30, 2024.
Garmenting Segment
Revenue in the Garmenting segment reached Rs 260 crore in Q2 FY25, down from Rs 286 crore in Q2 FY24. This decline was attributed to delays in shipment dispatches due to logistical issues. The segment’s EBITDA margin for the quarter was 9.6 percent.
High Value Cotton Shirting Segment
The High Value Cotton Shirting segment reported revenue of Rs 228 crore in Q2 FY25, marking an 8 percent increase from Rs 211 crore in Q2 FY24. This growth was driven by B2B customers preparing for the festive and wedding season. However, the EBITDA margin dropped to 9.7 percent, impacted by higher input costs.
Outlook
Raymond Lifestyle’s performance reflects its resilience in a challenging retail environment. The company continues to focus on retail expansion, new product launches, and strategic marketing, which position it well to capitalize on upcoming festive demand in India.
Diageo India (United Spirits Ltd.), a key player in India’s retail and alco-beverage industry, has launched its third annual ESG Reporting Index 2024, reflecting its ongoing efforts under the ‘Spirit of Progress’ plan. This report highlights achievements in Diageo India’s grain-to-glass sustainability, commitment to positive drinking practices, and initiatives in inclusion and diversity, with a strong focus on responsible business practices. The Reporting Index is aligned with the GRI Standards Index and maps the company's performance against the UN Sustainable Development Goals (UNSDGs), providing sector-specific insights through the Sustainability Accounting Standards Board (SASB) framework.
Hina Nagarajan, MD and CEO of Diageo India said, “As we release our 2024 ESG Reporting Index, I’m proud of the remarkable progress we’ve made under our ‘Spirit of Progress’ action plan. We are committed to leading the way in grain-to-glass sustainability, fostering positive drinking, and championing inclusion and diversity throughout our operations and communities, with an unwavering allegiance to doing business with integrity. We will continue to lead with purpose, leveraging our scale and working collaboratively with partners to drive meaningful impact and sustainable growth.”
Key Highlights from Diageo India’s ESG Reporting Index 2024
1. Grain-to-Glass Sustainability:
Diageo India focuses on building a sustainable supply chain to manage climate change impacts, particularly through water conservation and emissions reduction.
2. Promoting Positive Drinking:
Diageo India promotes responsible drinking, focusing on reducing underage and drink driving incidents.
3. Inclusion and Diversity:
Diageo India is committed to fostering an inclusive work environment and expanding diversity initiatives.
4. Governance and Compliance:
Governance is integral to Diageo India’s ESG goals, with a focus on value creation and operational transparency.
Diageo India’s 2024 ESG Reporting Index underscores its proactive approach to retail and sustainability within India’s alco-beverage market. By addressing environmental impact, responsible drinking, and community inclusivity, Diageo India is reinforcing its position as a responsible corporate leader in India’s consumer goods sector.
Colgate-Palmolive (India) Limited has announced robust financial results for the quarter ending September 30, 2024, marking a 10 percent year-on-year increase in topline growth, with domestic revenues up by 10.5 percent. Net sales rose to Rs. 1,609.2 crore from Rs. 1,462.4 crore in the same period last year, showcasing steady growth across the entire product portfolio.
The company reported a net profit after tax of Rs. 395.1 crore in Q2 FY25, reflecting a 16.2 percent growth over Q2 FY24’s Rs. 340.1 crore. This increase includes a one-time credit from interest on income tax refunds received during the quarter. Advertising expenditure also surged by 17.8 percent, underscoring Colgate’s enhanced investment in both brand promotion and category development initiatives, while continuing to prioritize superior product offerings.
Prabha Narasimhan, Managing Director & CEO, Colgate-Palmolive (India) Limited said, “We are pleased with the robust, consistent topline performance in a tough operating environment. This has been led by broad-based growth across portfolios. Toothpaste achieved high-single-digit volume growth on the back of our core brands- Colgate Maxfresh and Colgate Strong Teeth. Toothbrush continued to grow at double digits with rapid premiumization. We expect continued difficult market conditions but remain committed to leverage our very strong P&L which allows us to continue to invest behind superior products and advertising while we maintain our focus on ensuring better oral health for everyone in India.”
Prabha further added, “This was a big innovation quarter with the launch of Colgate Visible White Purple, a product that uses color theory and builds on our growing whitening business. The early response has been excellent. In addition, we aired new communication on our flagship global offering - Colgate Total. With its patented Dual Zinc and Arginine Technology, Colgate Total offers the best everyday protection and is the cornerstone of our premiumization strategy. Colgate Strong Teeth saw new advertising, built on the very relevant insight for today of increased snacking leading to increased loss of calcium, and Colgate Strong Teeth with its arginine + calcium boost builds back this lost calcium.”
In line with its commitment to improving oral health across India, Colgate’s Bright Smiles, Bright Futures (BSBF) program achieved key milestones this quarter. The initiative partnered with the governments of Uttar Pradesh and Goa to extend its in-school program, aiming to raise oral health awareness among over 2 crore children in Uttar Pradesh and over 2 lakh children in Goa.
The Board has declared a First Interim Dividend of Rs. 24 per equity share of face value of Re. 1 for the Financial Year 2024-25. The total dividend payout of Rs. 653 crore will be distributed on or after November 21, 2024, to shareholders listed in the Register of Members as of November 4, 2024.
Diageo India (United Spirits Ltd.), a key player in the country's alco-bev sector, launched its third annual ESG Reporting Index for 2024, marking significant strides in its "Spirit of Progress" ESG action plan. This year’s report details Diageo India’s progress toward three primary goals: advancing grain-to-glass sustainability, promoting responsible drinking, and fostering inclusion and diversity. These initiatives are rooted in Diageo’s commitment to ethical business practices and meaningful impact.
The 2024 Reporting Index aligns with the Global Reporting Initiative (GRI) Standards and maps Diageo India’s performance against the UN Sustainable Development Goals (UNSDGs). It also includes sector-specific disclosures under the Sustainability Accounting Standards Board (SASB) framework, showcasing Diageo’s transparency and dedication to rigorous reporting standards.
Hina Nagarajan, Managing Director & CEO, Diageo India said, “As we release our 2024 ESG Reporting Index, I’m proud of the remarkable progress we’ve made under our ‘Spirit of Progress’ action plan. We are committed to leading the way in grain-to-glass sustainability, fostering positive drinking, and championing inclusion and diversity throughout our operations and communities, with an unwavering allegiance to doing business with integrity. We will continue to lead with purpose, leveraging our scale and working collaboratively with partners to drive meaningful impact and sustainable growth.”
One of the report’s standout achievements is Diageo’s grain-to-glass sustainability efforts, which include innovations in water conservation and renewable energy. The company has seen impressive improvements in water efficiency and created significant water replenishment capacity, surpassing its initial targets well ahead of schedule. Diageo’s Alwar distillery in India also achieved the esteemed Alliance for Water Stewardship (AWS) certification, making it the first distillery in Asia to earn this recognition.
Another key focus for Diageo India is climate action, which aligns with UN SDG goals. Diageo India has eliminated coal from its distilleries, achieving an 87 percent reduction in greenhouse gas emissions since 2020. These efforts support its goal of net-zero carbon emissions by 2030.
The company also promotes positive drinking through extensive programs aimed at curbing underage drinking, raising awareness of responsible consumption, and educating consumers about the dangers of drink-driving. Over 4 lakh consumers have participated in its "Wrong Side of the Road" program, which aims to reach a million people by 2030.
Diageo’s commitment to inclusion and diversity is evident in its workforce and community programs. Women make up 50 percent of Diageo India’s Executive Committee, and the company actively supports the LGBTQIA+ community and individuals with disabilities through various programs. Diageo’s inclusive approach earned it the Gold Employer status for LGBT+ inclusion and a place on Equileap’s Gender Equality Report for Emerging Markets.
The company’s governance practices underscore its commitment to ethical operations, with independent directors leading key committees and a comprehensive structure in place to drive ESG objectives.
With its third ESG Reporting Index, Diageo India demonstrates its unwavering commitment to a sustainable and inclusive future, setting benchmarks in the alco-bev industry and beyond. The 2024 report highlights the company’s resolve to balance growth with positive social and environmental impact, ensuring a lasting contribution to Indian communities and the global sustainability agenda.
Overlays, one of the most aspirational men's wear brands in the fashion industry, is thrilled to announce the official launch of its highly anticipated winter collection, "Ember: Steel Winter '24." This bold and creative collection is designed for those who value both warmth and resilience in the colder months. Inspired by the fierce elements of fire, Ember Steel represents more than just winter fashion; it's a mindset that channels raw power, strength, and unyielding spirit.
Featuring a striking collection of over 35+ jackets, Ember Steel Winter '24 blends streetwear aesthetics with exceptional Indian craftsmanship. Each piece is carefully crafted with unique paisley design prints, intricate hand and machine embroidery, zardozi, and art work. The collection also showcases a range of washing techniques, making every jacket a true work of art tailored for the adventurous, fashion-forward individual who enjoys pushing boundaries with their style.
The launch of the collection was marked by a groundbreaking runway fashion show, a first-of-its-kind event in the creator economy. The show featured more than 13 models, each wearing pieces from the collection, while the international-level art direction set the stage for a visually stunning experience. The immersive sound engineering took the audience on an unforgettable journey, perfectly complementing the artistry of the Ember Steel collection and its powerful narrative.
Shlok Srivastava Founder and CEO, Overlays Clothing shared, “This event celebrates the fusion of fashion, technology, and digital creativity. We are not just unveiling a collection, but we are also igniting a movement that recognizes the significant influence of the creator economy in shaping the future of high fashion. The Ember Steel collection is designed to meet the needs of modern consumers, blending functionality with cutting-edge design. Whether braving the elements or making a bold fashion statement, these jackets are crafted to ensure both style and performance.”
Looking to the future, Overlays is committed to continuously evolving its offerings. The company plans to introduce seasonal updates incorporating current fashion trends, along with additional accessories to complement the jackets. Sustainability will also play a key role in the brand's future, with a significant focus on exploring eco-friendly materials and practices. The brand also aims to engage with its community through events and pop-up experiences in major urban cities, providing fans with exclusive access to the collection while celebrating creativity, innovation, and design. These experiences will also serve as platforms for aspiring designers and influencers to showcase their talent.
With the Ember Steel Winter '24 collection, Overlays is once again pushing the boundaries of fashion, design, and technology, setting the stage for a new era of fashion that embodies strength, innovation, and the unbreakable spirit of fire.
Reliance Retail’s Tira, India’s leading destination for beauty enthusiasts, is proud to announce the exclusive launch of Youth To The People (YTTP) in India. As the exclusive distributor, Reliance Retail will introduce the highly popular pro-grade, vegan skincare brand from California to Indian consumers through Tira. Known for blending potent superfoods with science-driven formulations, YTTP has garnered a massive global following, particularly on platforms like TikTok, where fans rave about its transformative, high-performance results.
The launch of Youth To The People in India represents a significant milestone in the brand’s journey, expanding its reach to a growing community of conscious beauty consumers. This exclusive partnership with Reliance Retail brings YTTP’s unique offerings to a market that increasingly seeks vegan, cruelty-free, and effective skincare solutions.
Founded in 2015 by Greg Gonzalez and Joe Cloyes, Youth To The People combines professional skincare expertise with a commitment to conscious innovation. The brand is best known for its standout products, such as the iconic Superfood Cleanser, which has become a trusted choice for consumers who prioritize ethically crafted, science-backed skincare solutions.
More than just a skincare brand, Youth To The People is dedicated to driving positive social change. Through its Good To The People fund, the brand supports initiatives focused on climate action, gender and racial equity, and human rights. The collaboration with Tira aligns perfectly with YTTP’s broader commitment to purpose-driven business and community-building on a global scale.
The launch of Youth To The People in India is not just a milestone for Tira but also a step forward for the beauty industry, as consumers demand more from the brands they support. With its focus on superfoods, scientific formulations, and ethical practices, YTTP is set to captivate a whole new generation of beauty enthusiasts in India, ushering in a new era of conscious skincare.
Allied Blenders and Distillers Limited (ABD), India’s third-largest spirits company, has officially entered the luxury spirits market with the launch of ARTHAUS Blended Malt Scotch Whisky. This premium offering debuted in Mumbai, with plans to roll out across key markets during the festive season.
Blended Malt Scotch Whisky is gaining traction as a distinct category, setting itself apart from traditional Blended Scotches and Single Malts available in India. As the name suggests, a Blended Malt is crafted exclusively from a selection of different Single Malts. ARTHAUS is a unique collective blend, specially curated by ABD’s Master Blender and featuring premium Single Malts sourced from the Scottish Highlands and Speyside.
The brand name, ARTHAUS, draws inspiration from the world of art, particularly echoing the geometric minimalism of the Bauhaus movement. Its brand identity integrates artistic techniques such as drip art, reality-to-abstraction transitions, and textures achieved with palette knives and mixed media. ARTHAUS further incorporates multi-dimensional technology to enhance its artistic expression, embodying the philosophy that blending exceptional whisky is an art form.
Bikram Basu, Chief Innovation and Strategy Officer, ABD said, “ARTHAUS is an exceptional Blended Malt Scotch. It’s ‘Art Bottled’. This journey of ARTHAUS has been a joyful experience. The discoveries in the art of blending and the World of Art in terms of form, expressions, and cultures have been engrossing. This brand will make curious minds experience it, love it, and advocate for it.”
Alok Gupta, Managing Director, Allied Blenders and Distillers Limited commented, “ARTHAUS is a significant move from ABD to enter the luxury portfolio. It gives the consumers a product that is curated from a collective of the finest Single Malts. This Blended Malt Scotch is a key addition to our premiumization plan and a higher margin portfolio. With Zoya Special Batch Gin, the recent announcement of Russian Standard Vodka, and now ARTHAUS Blended Malt Scotch we are building our luxury portfolio.”
ARTHAUS Blended Malt Scotch Whisky is priced at an MRP of Rs. 4,800 for a 750 ML bottle. Currently available in Mumbai and Pune, ABD has plans to introduce the product in other key markets, including Haryana, Uttar Pradesh, Chandigarh, and West Bengal, in the near future.
In the heart of Gurgaon, Sobé Decor has unveiled its latest sanctuary of refined living, blending timeless design with exquisite craftsmanship. Known for its high-quality home décor and tableware, Sobé Decor has launched its newest store in Gurgaon, inviting patrons to immerse themselves in an experience of luxury curated just for them.
Located on Grand View Street in Sector 58, the boutique spans over 400 sq.ft. and offers a curated selection of top-tier décor and tableware from prestigious brands like Noritake, Bugatti, Gloss, and more. Unlike larger retail outlets, this exclusive space is designed to present only the finest collections, catering to the refined tastes of the Gurgaon clientele.
Inside Sobé Decor’s Gurgaon store, visitors are greeted by an array of stunning collections, including the Gloss crystal series from Norway, a distinctive blue porcelain line, and the Magnolia kitchen accessory collection. Each piece—whether it’s a finely crafted porcelain teacup or a silk throw adorned with intricate patterns—embodies the meticulous craftsmanship and commitment to quality Sobé Decor is known for.
"We have chosen this vibrant city as our next destination, recognizing Gurgaon's rapid growth and its status as a hub for premium lifestyle experiences. Our prime location, amidst renowned brands and upscale markets, perfectly complements the sophistication and elegance of Sobé Decor,” commented Nivedita Jagadeesh, Founder, Sobe Decor.
With a legacy dating back to 1999, Sobé Decor has brought renowned brands like Noritake, Bugatti, Falkenporzellan, Gloss, Tarii, Chinelli, and Samura to the Indian market. To make luxury more accessible, Sobé Decor extends its reach beyond Chennai, Bangalore, and Hyderabad with an online presence on Tata Cliq Luxe and Amazon, allowing customers to explore their offerings from the comfort of their homes.
Visit Sobé Decor’s new Gurgaon store today to transform your living space into a masterpiece of elegance and luxury.
Muralikrishnan B, President of Xiaomi India, has announced his resignation from the company. He is stepping down to pursue an executive doctorate in management and will serve in his current role until the end of this year.
Following his departure, Muralikrishnan will continue supporting Xiaomi India as an independent strategic advisor, according to the company. Muralikrishnan joined Xiaomi India in 2018, initially serving in various roles, including Chief Operating Officer, before becoming President in 2022. Throughout his tenure, he significantly strengthened Xiaomi India’s brand presence, led strategic initiatives across teams, and managed critical public affairs efforts.
“Under Murali’s leadership, Xiaomi has seen exceptional success in India, continuing to be a key player in the technology landscape and connecting millions to innovative products. We deeply appreciate his contribution, and our commitment to India’s growth journey remains stronger than ever,” said Adam Zeng, Senior Vice-President, Group and President of the International Business Department.
In recent months, Xiaomi India has made several senior-level appointments to bolster its leadership team. Former Samsung senior executive Kunal Agarwal joined as the deputy sales head to enhance offline retail growth, while Sudhin Mathur, formerly the managing director of Motorola and Lenovo, was appointed as Chief Operating Officer in September 2024.
"Sudhin Mathur, with over 30 years in the industry, will continue to guide key functions as COO. Key leaders, including Sameer Rao (CFO), Varun Madan (CPO), and Anuj Sharma (CMO), will further strengthen Xiaomi’s focus on high-quality technology experiences and its ambitious vision for the next decade,” added Adam Zeng.
Xiaomi India rose to the second position in terms of smartphone volumes shipped in the July-September quarter, attributing its growth to a balanced approach across offline and online retail channels.
Muralikrishnan B shared, “My experience at Xiaomi India has been one of the most fulfilling chapters of my career. The values of sincerity and passion that Xiaomi embodies have been central to our journey. I am immensely proud of what we have accomplished together in such a dynamic market. I am grateful to Xiaomi’s leadership for their guidance, to my peers and team members for their support, and to our partners and Xiaomi fans who have been integral to our success.”
Pepperfry, the leading e-commerce platform for furniture and home decor, has announced the appointment of Shubbam Sharrma as its new Chief Growth Officer. With over 17 years of expertise in retail, e-commerce, and omnichannel strategy, Shubbam has a strong track record in driving strategic growth and leading high-performance teams across industries.
In his new position at Pepperfry, Shubbam will lead the company’s growth strategy, with an emphasis on expanding market share, advancing customer acquisition, and optimizing operational efficiency. His role will focus on significantly expanding the home categories, introducing new segments, and scaling the B2B sector through initiatives like a multi-tiered channel partner program and exploring new B2B avenues in hospitality and corporate sectors.
Ashish Shah, co-founder and chief executive officer at Pepperfry said, “We are delighted to welcome Shubbam to the Pepperfry family. His extensive experience in driving growth in retail, coupled with his deep understanding of the consumer landscape, makes him the ideal leader to spearhead our next phase of expansion. We are confident that Shubbam’s vision and expertise will be instrumental in solidifying Pepperfry’s position as the undisputed leader in the furniture, mattress, and home décor market.”
Shubbam Sharrma, chief growth officer, Pepperfry said, “I’m thrilled to be part of Pepperfry during this exciting phase of its growth journey. For anyone looking to buy furniture, Pepperfry has become the go-to destination. Our aim would be to further enhance this segment with tech-driven innovation and omnichannel integration to complete more and more customer journeys and make the business funnel more efficient. By fostering content and community engagement, we will democratize access for D2C entrepreneurs, helping to bring the best-curated collections to our customers.”
“Our vision is to blend new-age and legacy brands, creating a one-stop destination for all things home—truly the best of both worlds. Furthermore, we see immense potential in the B2B segment, particularly in building a curated platform for architects and interior designers to meet their discerning clients' needs. As any B2B client setting up a workspace requires extensive furniture and decor, we are committed to developing efficient channels to serve this segment effectively. Together, we will set new benchmarks for customer-centricity, operational excellence, and innovation,” added Shubbam Sharma.
Prior to joining Pepperfry, Shubbam served as Chief Business Officer at ImpactGuru, where he led growth initiatives across multiple cities and optimized operations, marketing, and HR. At CarDekho, he strengthened the used car retail division as the head of P&L for used cars. Shubbam also worked in consulting roles at KSA Technopak and RedSeer, where he advised companies on growth strategies, digital transformation, and market expansion. He began his career at Godrej and also co-founded a D2C fashion brand specializing in ethnic wear.
Shubbam holds an MBA from IIM Lucknow and a B.Tech from the College of Engineering Roorkee.
DECATHLON, the world’s leading sports retailer, has launched the RunRide 100, one of India’s lightest and safest balance bikes for toddlers, on Children’s Day. Designed to help young children seamlessly transition from walking to riding, the RunRide 100 reflects DECATHLON’s dedication to encouraging kids to explore the joy of movement and develop essential motor skills, balance, and coordination.
The RunRide 100 is more than just a bike; it’s a tool for young children to build confidence and physical coordination while enjoying their first experience with two wheels. Proudly designed and manufactured in India, the bike meets the Bureau of Indian Standards (BIS) safety regulations IS 9873 as well as the European EN-71 toy standard, ensuring both quality and safety. Unlike traditional bikes with pedals, the RunRide 100 emphasizes balance, allowing children to gain control of their movements with ease. This approach fosters agility and empowers kids to feel a sense of accomplishment early on.
"As part of DECATHLON’s long-standing commitment to fostering community and making sports accessible to everyone, the RunRide 100 reinforces the brand's belief in inspiring everyone to embrace a lifelong love of activity. This bike not only makes learning to ride fun and intuitive for kids but also aligns with our brand's goal of encouraging a healthy, active lifestyle from a young age," said Raghu Rao, Mobility Ecosystem Leader at Decathlon Sports India.
"This product offers children a fantastic opportunity to develop both physical and cognitive skills, all while enjoying the adventure of movement, exploration, and autonomy," said Prajval Ray, Cycling Leader at Decathlon Sports India.
The RunRide 100 is priced at Rs. 3,999 and features puncture-proof foam tires, a 3.2 kg frame for easy handling, and an adjustable design to accommodate toddlers from 85 cm to 105 cm. With a smooth, low step-over frame, kids can hop on and off independently, preparing them for more advanced biking skills without needing training wheels. Parents can enjoy peace of mind, as the RunRide 100 requires minimal maintenance and ensures a safe, seamless riding experience.
DECATHLON recommends that children wear protective equipment, including helmets and pads, to promote safe riding habits from the start. Through the RunRide 100, DECATHLON brings together its expertise in sport and movement to help children enjoy the thrill of their first bike and begin their journey toward an active, healthy lifestyle.
Raymond Ltd, a prominent player in the fashion sector, has released its financial results for the second quarter of the current fiscal year, revealing a substantial 63 percent decline in consolidated net profit. The company's net profit stood at Rs. 59.01 crore, a significant drop from Rs. 161.16 crore reported during the same period last year.
Despite this downturn in profitability, Raymond Ltd experienced a notable increase in total income, which rose to Rs. 1,100.70 crore for the July-September quarter. This figure marks an impressive growth compared to the Rs. 512.35 crore recorded in the corresponding quarter of the previous fiscal year, according to a regulatory filing.
The company’s performance reflects a mix of challenges and opportunities in a competitive market. Gautam Hari Singhania, Chairman and Managing Director of Raymond Ltd, shared insights into the company's outlook, stating, “We witnessed good momentum both in real estate and engineering businesses.” His comments suggest that while net profit has declined, there are underlying strengths within the company's operational segments.
Gautam Hari Singhania, Chairman & Managing Director, Raymond Ltd said, “We witnessed good momentum both in real estate and engineering businesses. “With the launch of Park Avenue- High Street Reimagined, the first-of-its-kind retail space in Thane, Raymond Realty has taken another pioneering step to create the aspirational ecosystem for its current and upcoming residential projects. The project execution remains our USP as we endeavor to continue to deliver before RERA timelines.”
Overall, while Raymond Ltd faces challenges reflected in its profit margins, the company continues to pursue growth opportunities through innovative projects and strategic investments in its real estate and engineering divisions.
Bata India Limited, a prominent footwear brand, has released its financial results for the quarter ending September 30, 2024. The company reported revenue from operations of Rs. 8,371 million, marking an increase from Rs. 8,191 million in the previous quarter. Operating profit for this quarter was Rs. 524 million, demonstrating the company's resilience and operational effectiveness. These results underscore Bata's ongoing transformation journey, driven by strategic investments in product innovation, enhanced customer experiences, technology integration, and brand premiumization, which are positioning the company for future growth.
Gunjan Shah, MD and CEO - Bata India Limited stated, “Despite continuing market headwinds and subdued consumption, we saw some recovery in our growth trajectory through the quarter backed by focused execution of strategic initiatives. We are seeing strong validation of our premiumization strategy across channels, with premium products showing robust growth and increased contribution to our revenue mix. Our Brand stories connected well with the targeted audience. Our expansion through franchise stores in Tier III and IV markets, combined with our robust digital presence, is helping us tap into new growth opportunities with a strengthened omnichannel approach. Our conscious efforts on Franchise model expansion are showing good results. Cost efficiency remains a cornerstone across all operations including manufacturing facilities.”
He further added, “We continue to maintain a balanced approach between managing near-term challenges and investing in long-term growth drivers. We are optimistic about consumption recovery in the coming quarters, backed by festive season momentum and our strong market positioning.”
Key highlights of Q2FY25 results are: Expansion of the retail network, now comprising 1,955 company-owned and franchise stores, Renovation of 48 stores this year, enhancing the customer experience with stylish and technological upgrades, Improvement in Net Promoter Score (NPS) to 80, Introduction of the Pujo Glam Collection ahead of the festive season.
KorinMi, India's first professional Korean beauty clinic, has announced its grand opening in the Delhi NCR region, bringing the highly sought-after ‘flawless glass skin’ aesthetic to the Indian skincare market. Specializing in personalized, high-tech treatments specifically designed for Indian skin, KorinMi aims to transform the beauty landscape by blending Korean skincare expertise with innovative technology.
With India’s climate and pollution posing challenges to achieving smooth, radiant skin, KorinMi focuses on treatments that promote the desired glass skin glow. The clinic utilizes advanced 3D skin analysis technology, a first of its kind in India, allowing certified experts to assess skin conditions at both the epidermis and dermis levels. This cutting-edge approach enables the creation of individualized treatment plans, ensuring that every client receives effective and culturally relevant care.
KorinMi embraces a holistic philosophy that prioritizes skin health alongside aesthetic results. Their personalized regimens empower clients with knowledge about effective skincare practices, fostering long-term results and boosting confidence. Each treatment is meticulously tailored to reflect the clinic’s commitment to customized solutions that address individual skincare needs.
KorinMi is also introducing exclusive and luxurious services, including 3D Skin Analysis, the proprietary lifting technology Xylift, and painless laser treatments via Luminex technology. These innovative solutions enhance skin health and beauty, offering non-invasive options to stimulate collagen production and address various skin concerns. The clinic continuously refines its offerings based on client feedback and treatment outcomes, ensuring they meet the evolving demands of all skin types.
“We provide clients with high quality 1:1 personalized skincare treatments that enhance their natural beauty and help them achieve flawless glass skin,” said Reshbha Munjal, Co-Founder of KorinMi.
Jenovia Daun Jung, Co-Founder, KorinMi shared, “Having observed the growing demand for effective and personalized skincare solutions in India, we felt inspired to bring the best of Korean beauty expertise to this vibrant market. We saw a significant gap in professional Korean skincare services that cater specifically to Indian skin types, and that’s why we launched KorinMi. We are truly excited to offer transformative skincare journeys that not only improve skin health but also elevate confidence, helping our clients embrace their unique beauty.”
Joining KorinMi as a partner dermatologist is Dr. Deepali Bhardwaj, a celebrity dermatologist with over 15 years of experience and a trusted figure in skincare. Her expertise further strengthens KorinMi’s mission to provide world-class, tailored treatments that cater to the specific needs of Indian skin.
KorinMi welcomes beauty enthusiasts across India to step into a new era of skincare—where Korean beauty innovations meet cutting-edge technology, delivering personalized care and visible results designed specifically for Indian skin.
TOTO, one of the global leaders in sanitaryware innovation, proudly announces a major milestone: its WASHLET product line has surpassed 60 million units sold worldwide and continues to see remarkable growth. This achievement has been largely driven by India’s post-COVID surge, where TOTO India has doubled WASHLET sales over the past three years, establishing the country as a key market for the brand. The WASHLET, a registered trademark of TOTO LTD, is an electronic bidet equipped with smart features like heated seats, self-cleaning wands, automatic lid functions, dryer, and deodorization, among others.
With Indian consumers increasingly valuing personal wellness and comfort, TOTO’s strategic focus on the WASHLET in this market aligns with the rapid evolution of the sanitaryware sector. Reflecting the global shift toward hygiene and wellness, TOTO India has experienced remarkable growth, fueled by a heightened focus on hygiene in both residential and public spaces.
Shiozawa Kazuyuki, Managing Director, TOTO India said, "Since 2021, we have observed phenomenal growth in the WASHLET product segment, particularly in India where hygiene standards have become a key priority for consumers. Our sales figures clearly reflect the increasing demand for premium bathroom solutions, and we are proud to see that our innovation is playing a significant role in enhancing daily wellness for users across the country. The past three years have been transformative for the brand in India, and we are excited to continue expanding our presence with a focus on promoting hygiene and wellness."
Since its launch in 1980, the TOTO WASHLET has set new standards in bathroom technology, offering warm water washing, air drying, and seat warming functions, and has redefined hygiene practices by replacing traditional cleansing methods with advanced features. In the wake of the pandemic, India has seen accelerated adoption of the WASHLET, with consumers seeking hygienic, tech-driven bathroom solutions. The WASHLET now boasts up to 400 components, enabling features such as deodorization, self-cleaning, and customizable cleansing settings.
Throughout the APAC region, demand for advanced hygiene technologies has surged, with consumers increasingly drawn to products that emphasize cleanliness, wellness, and luxury. Alongside its robust growth in India, TOTO has seen similar trends across other APAC markets, where the brand’s blend of advanced technology and luxurious comfort is meeting the rising demand for premium sanitaryware.
As TOTO continues its path of innovation, it remains dedicated to promoting wellness and sustainability through its products, further reinforcing its global leadership in technology and design.
CarTrade's OLX India has announced that Amit Kumar will step down from his role as managing director and CEO, with his departure set for January 31, 2025, according to a recent filing with the Bombay Stock Exchange (BSE). Kumar has been instrumental in OLX India’s evolution, growing it from a pilot project in the Delhi-NCR region into a major retail platform with a strong national presence.
During his tenure, OLX India experienced considerable growth and development. Kumar, who previously served as vice president, managed critical areas such as product development, operations, sales, HR, finance, and regional expansion. His strategic vision was key in positioning OLX as a well-known brand in the online classifieds space.
Prior to his time at OLX, Kumar was an angel investor and advisor at Spyne, reflecting his broad experience across the tech and startup sectors. With a career spanning 16 years, he advanced from a management trainee to a global CXO and CEO, gaining extensive experience across multiple regions, including Asia, Africa, Eastern Europe, and Latin America. Kumar's career includes work in sectors like classifieds, e-commerce, FMCG, and telecom, with a focus on building scalable enterprises and cultivating high-performing teams.
“Under my leadership, we have built OLX India into a trusted platform for millions of users. As I prepare for the next chapter in my career, I am confident that OLX India will continue to thrive and grow,” Kumar stated.
Kumar’s extensive career also includes roles at esteemed companies such as Britannia, Uninor, Times Internet, and Snapdeal, where he developed expertise in managing diverse markets and driving business achievements. His knowledge spans various consumer segments, from premium to lower-income markets, showcasing his adaptability to different customer needs.
Looking ahead, OLX India will seek a successor to carry forward Kumar’s legacy and lead the platform through its next growth phase. While his resignation represents a major shift for OLX India, Kumar's contributions will leave a lasting impact on the organization well into the future.
Alankaram, a well-known name in bespoke furniture and design, has unveiled its most expansive showroom yet in the bustling city of Bengaluru. Nestled in a city celebrated for its vibrant culture and rapidly growing design-conscious population, this new showroom aims to become a landmark destination for those seeking furniture that embodies both elegance and individuality. Showcasing over 500 unique pieces, the space is designed to highlight Alankaram’s distinct combination of storytelling, craftsmanship, and contemporary aesthetics, making it more than just a furniture store—it’s a curated journey through design.
The showroom represents a seamless fusion of traditional Indian craftsmanship and modern design sensibilities, tailored for a clientele that values both aesthetic appeal and functionality. It’s an approach that Alankaram has cultivated over the years, and one that has propelled the brand to the forefront of the Indian furniture market.
Ar. Anupriya Sahu, Founder and Design Head of Alankaram, articulates the philosophy behind this space, stating, “The Bengaluru showroom is designed to reflect Alankaram’s core philosophy—merging traditional Indian craftsmanship with modern aesthetics. As one of the largest displays of customizable teakwood designer furniture in the country, this space showcases Alankaram’s dedication to quality and creativity.”
Spread over three floors, the showroom is divided into 25 distinct zones, each curated to represent different design styles and aesthetics. The space invites customers to envision how Alankaram’s pieces could transform their own homes. Each zone is thoughtfully designed to provide an immersive experience, allowing visitors to not only view but also feel the impact of each design in a setting that mirrors a true home environment. This layout helps customers visualize how Alankaram’s bespoke pieces could enhance the spaces they live in, making the showroom not just a place to buy furniture, but a source of inspiration.
While Alankaram’s forte lies in customizable furniture, the showroom extends far beyond. Customers can also explore a diverse range of home décor accessories, including bedding, cushions, mattresses, rugs, and both antique and contemporary accents that add a final touch to any space. This comprehensive collection enables clients to create a cohesive and personalized look, ensuring that each element complements the others.
Further enhancing the experience is Alankaram’s in-house design team, which offers bespoke consultation services. This service allows customers to tailor each piece to their specific tastes, ensuring that no two pieces are exactly alike. The team collaborates closely with clients to understand their preferences, style, and vision, which helps bring to life pieces that truly embody the clients’ personality and needs.
One of the hallmarks of Alankaram’s brand philosophy is its commitment to sustainability. All of Alankaram’s furniture is crafted using sustainably sourced, high-quality woods like teak, oak, and walnut. Eco-friendly production methods are also implemented to minimize the environmental footprint of each piece. For Alankaram, sustainability goes hand-in-hand with aesthetics and quality—a trifecta that aligns with the values of its discerning clientele.
“Bespoke furniture isn’t just about aesthetics,” Sahu emphasizes. “It’s about creating timeless pieces that bridge tradition and innovation, while being mindful of the environment.” This vision underscores every piece at Alankaram, where furniture isn’t just made to fill a space, but to tell a story of craftsmanship and sustainability, designed to last for generations.
With Bengaluru’s cosmopolitan culture and a populace that values refined design, the city was a natural choice for Alankaram’s latest showroom. Dhwanit Parmar, Co-founder of Alankaram, explains, “The city’s vibrant design scene and cosmopolitan audience make it an ideal location for this launch. Our customers will experience luxury furniture that is customizable and one-of-a-kind, offering styles from minimalistic to intricately handcrafted designs.” This launch reflects Alankaram’s keen understanding of its audience, recognizing the city’s growing appreciation for exclusive, customizable furniture.
In this new showroom, customers can expect a blend of minimalistic, modern styles alongside more elaborate, handcrafted designs—offering something for every taste. From sleek, simple lines that suit a modern urban lifestyle to intricate designs that evoke India’s rich artisanal heritage, Alankaram’s offerings cater to a wide spectrum of aesthetic preferences.
Looking forward, Alankaram has ambitious plans to expand its presence across India. This new showroom in Bengaluru marks a significant milestone in that journey, but it’s only the beginning. “We’re not just creating furniture,” says Sahu. “We’re creating experiences—stories that reflect personal style, the history of craftsmanship, and Alankaram’s vision.”
The brand aims to create spaces that serve as storytelling mediums, blending history, innovation, and art. By focusing on quality, craftsmanship, and sustainability, the brand hopes to redefine the Indian furniture market and create a legacy that endures. As it looks toward future expansions, Alankaram remains committed to offering furniture that isn’t just functional, but transformative.
Sheela Foam Limited, India's leading manufacturer of polyurethane foam and the parent company of Sleepwell and Kurl-on, has reported its financial results for the second quarter and half-year ending September 30, 2024. Reflecting solid growth across its various segments, the results highlight the success of post-acquisition synergies following the integration of Sleepwell and Kurl-on, which have strengthened the company’s business-to-business (B2B) and business-to-consumer (B2C) divisions.
The integration of these flagship brands has resulted in annual synergy benefits surpassing Rs. 100 crores, which has boosted profitability through streamlined operations, expanded market outreach, and efficient resource management. These improvements reinforce Sheela Foam’s foundation and enable the company to continually deliver value to customers and stakeholders within the sleep solutions industry.
For the quarter, Sheela Foam’s standalone revenue reached Rs. 602 crores, an impressive 42 percent increase from the previous year. The company's EBITDA grew by 54 percent to Rs. 70 crores, translating to an EBITDA margin of 11.7 percent, while net profit rose to Rs. 43 crores, marking a 12 percent increase year-over-year. On a consolidated basis, the company reported revenues of Rs. 813 crores, with a year-over-year increase of 32 percent, an EBITDA of Rs. 69 crores, and a net profit of Rs. 9 crores.
This quarter also marked Sheela Foam’s launch of advanced products, including the Spinetech, Orthomagic, and Pro FitRest mattresses. Endorsed by the Indian Association of Orthopaedic Surgeons and the Indian Association of Physiotherapists, these products have been well-received, strengthening the company’s market position. Additionally, Sheela Foam’s extensive distribution network—comprising over 20,000 touchpoints—has helped support substantial growth across various markets.
Sheela Foam has also reported substantial gains across other business areas, including furniture cushioning, Comfort Foam, and Technical Foam, which are witnessing increased demand from sectors such as automotive, footwear, lingerie, and other ancillary markets. The growth in these areas further underscores Sheela Foam’s strategic focus on diversified market applications and innovations in sleep technology.
Commenting on the results, Rahul Gautam, Executive Chairman of Sheela Foam Limited, noted, “Both Sleepwell and Kurl-on brands have entered their desired orbits, showing impressive volume growth in Q2 FY25 while maintaining strong margins. We remain committed to delivering customer-centric innovation across all areas of our business.”
Tushaar Gautam, Managing Director of Sheela Foam Limited, added, “We have unlocked additional value by optimizing costs post-integration, resulting in an adjusted EBITDA nearing 10 percent for Q2 FY25 of India business, primarily driven by synergies across raw material, logistics, and manpower rationalization.”
With its focus on strategic growth and innovative product offerings, Sheela Foam Limited continues to strengthen its market leadership and commitment to quality, setting new standards in the sleep solutions industry.
Samsung, a leading consumer electronics brand, has announced the launch of its largest Experience Store in Gurugram, strategically located at DLF CyberHub, a hub known for its vibrant mix of entertainment, lifestyle, and commerce. Spanning 3,000 square feet, this new store invites consumers to immerse themselves in Samsung’s most advanced mobile and connected technology offerings.
Situated in one of Gurugram’s busiest areas, the store is designed to serve the city’s tech-savvy and innovation-driven community. Visitors will have the opportunity for hands-on interaction with Samsung’s flagship smartphones, wearables, audio devices, and the SmartThings ecosystem, all showcased in thoughtfully curated immersive zones.
Emphasizing personalized customer engagement, the store features dedicated experts who guide visitors through Samsung’s latest products, helping them find tailored solutions to meet their lifestyle needs.
“Our new Experience Store at DLF CyberHub marks a significant step in Samsung’s journey to bring innovative, seamlessly integrated technology closer to consumers. This store is more than a retail space, it offers a glimpse into the future of connected living, where our SmartThings ecosystem and mobile experiences converge to improve everyday life. Building on the success of our existing experience stores nationwide, the CyberHub location is set to elevate customer engagement through hands-on demonstrations, personalized consultations, and immersive zones that highlight our latest innovations. We invite consumers to explore and experience the cutting-edge technology that is shaping the future of how we live, work, and connect,” said Sumit Walia, Vice President, D2C Business, Samsung India.
The new Experience Store represents a seamless blend of physical and digital shopping experiences. Customers can easily transition between in-store browsing and online purchasing through Samsung’s Store+ platform. With access to over 1,200 Samsung products, including Mobiles, Smart TVs, and Refrigerators, all available for home delivery, consumers are assured a convenient shopping experience.
Additionally, Samsung is enhancing customer engagement with its ‘Learn @ Samsung’ initiative, offering workshops focused on AI education and topics that resonate with consumer interests, such as doodling, photography, fitness, and productivity. The new store will also provide after-sales service for smartphones and allow customers to book home service calls for all consumer electronics needs.
To celebrate the grand opening, Samsung is rolling out special offers for early visitors, including the Galaxy Fit3 at Rs. 1,999 with select Galaxy purchases and double SmartClub points on all transactions. These exclusive deals add extra value to the immersive experience awaiting customers at DLF CyberHub.
Samsung invites all tech enthusiasts, shoppers, and innovators to visit the new Experience Store to explore the best in mobile technology, connected solutions, and personalized services, all designed to deliver a premium, future-forward experience.
Livpure, a prominent company within the SAR Group and a leader in water purification and appliance technology, has announced the appointment of Rahul Khanna as the Head of its Strategic Business Unit for Appliances. With over 17 years of extensive experience in the appliance industry, including notable positions at Panasonic, LG, and Samsung, Rahul Khanna is poised to steer Livpure’s appliance division toward a new era of growth and innovation.
Before joining Livpure, Khanna held the position of Product Management Head for Living Product Appliances at Samsung Electronics, where he was instrumental in advancing product portfolios and driving market success. His strategic insights and dedication to excellence significantly contributed to delivering substantial growth and enhancing customer satisfaction in highly competitive markets.
In his new role, Khanna will oversee various critical functions, including product portfolio management, business strategy, and market expansion, all aimed at enhancing brand visibility. He will be fully accountable for the financial performance, revenue generation, profitability, and cost efficiency of the appliance division. His leadership is expected to be vital in ensuring that Livpure continues to meet and exceed customer expectations within the dynamic and competitive appliances sector.
Rahul Khanna commented on the appointment, “I am honored to join Livpure, a company known for its commitment to quality and customer-centric innovation. I look forward to collaborating with the talented team at Livpure to drive product excellence, elevate the customer experience, and further solidify our market position.”
Rakesh Kaul, Managing Director & CEO, Livpure expressed, “We are excited to welcome Rahul to the Livpure family. His industry knowledge and strategic acumen will be invaluable as we aim to strengthen our foothold in the appliance market. With Rahul at the helm, we are well-positioned to achieve new milestones and deliver outstanding value to our customers.”
Under Rahul Khanna’s guidance, Livpure is dedicated to expanding its product lineup while reinforcing its leadership in the appliance sector, maintaining its promise of quality, reliability, and innovation.
Crossword Bookstore has recently announced the release of Ratan Tata – An Icon of India’s Corporate and Philanthropic Legacy, a comprehensive biography offering readers an intimate look into the life of one of India’s most respected figures. Written by Thomas Mathew, a retired bureaucrat and close friend of Tata, this book captures the story of Tata's journey, values, and impact on Indian industry. Mathew, who has known Tata for over 30 years, brings unique insights into Tata’s professional milestones and personal character.
Through previously unheard stories, readers will explore Tata’s evolution from his early days to leading the Tata Group to global prominence. The biography includes rare interviews with Tata’s inner circle, from family members to colleagues, revealing personal anecdotes that showcase his humility, leadership, and influence on those around him. Accompanying Tata’s story are never-before-seen photographs from his childhood, university days, and pivotal career moments, giving readers a rare window into the man behind the legacy.
Known for his ethical values and commitment to India, Tata's biography highlights his dedication to innovation, social equality, and fostering entrepreneurship. His leadership not only transformed the Tata Group but also reshaped the Indian business landscape, making this book essential for those interested in impactful, value-driven leadership. Mathew’s close relationship with Tata adds depth to the biography, giving readers an unparalleled view of Tata’s philosophy on global business and social responsibility.
Thomas Mathew’s extensive experience in the Indian Administrative Service and his long-standing friendship with Tata equip him with a deep understanding of corporate India and global policies. His insights offer readers a balanced and informed portrait of Tata, granting privileged access to Tata’s views on global business and social responsibility.
As Thomas Mathew says, Ratan Tata – An Icon of India’s Corporate and Philanthropic Legacy is now available at Crossword Bookstores and online, promising to be an inspiring read for aspiring leaders, entrepreneurs, and admirers of Tata’s enduring influence.
Amazon India has announced that its month-long Amazon Great Indian Festival (AGIF) 2024 has emerged as the most successful shopping event in its history, benefiting customers, sellers, and brand partners nationwide. Kicking off on September 27th with 24 hours of Prime Early Access, the festival showcased more than 25,000 new product launches from leading brands across a wide range of categories, including laptops, TVs, smartphones, fashion, beauty, home décor, appliances, furniture, and groceries.
AGIF 2024 also marked significant achievements for sellers, with over a 70 percent increase in those surpassing Rs. 1 crore in sales compared to the previous year. The online marketplace enhanced its fast delivery capabilities, successfully delivering over 3 crore products to Prime members within the same or the next day—a remarkable 26 percent increase from last year.
"The Amazon's Great Indian Festival 2024 has truly become India's greatest shopping phenomenon, smashing all previous records. This overwhelming response from across the country, for everything from daily essentials to high-value purchases, underscores customers' deepening trust in Amazon India. AGIF exemplifies our obsession with providing an unparalleled shopping experience through a wide selection, unmatched value, fast delivery, and relentless innovation. We are committed to creating more opportunities that unlock greater value for our entire ecosystem of customers, sellers, and partners," said Saurabh Srivastava, Vice President – Categories, Amazon India.
The festival also proved to be a remarkable celebration for sellers. Small and medium businesses, including women entrepreneurs, weavers, and artisans, sold over 1,000 units every minute during the event. More than 42,000 sellers achieved their highest-ever single-day sales during AGIF 2024. Notably, sellers from the highest-ever number of pin codes across all editions of the event experienced significant sales growth, with over 4,500 sellers recording a tenfold spike, more than 7,000 seeing a fivefold increase, and over 13,000 enjoying a twofold surge in sales compared to last year.
The participation of sellers from India’s heartland was particularly noteworthy, with approximately 70 percent of participating sellers coming from Tier II and smaller cities. Amazon also observed the highest-ever number of sellers from these regions making sales during AGIF 2024, underscoring the event's broad reach and impact.
The Amazon Great Indian Festival 2024 has set new benchmarks in the online shopping landscape, reinforcing Amazon India's commitment to innovation and customer satisfaction.
Global water technology leader A. O. Smith Corporation (NYSE: AOS) has announced the completion of its acquisition of Pureit, a well-established water purification business by Hindustan Unilever Limited. This strategic acquisition bolsters A. O. Smith’s footprint in the residential water purification sector, particularly in India, where Pureit has a significant presence.
“Pureit complements our premium brands in the market and their strength in e-commerce will allow us to expand our presence in that channel. This acquisition aligns with our strategy of adding scale and enhances our premium water treatment product portfolio and distribution footprint,” stated Kevin J. Wheeler, the Company’s Chairman and Chief Executive Officer.
Since its inception in 2004 in Chennai, India, Pureit has aimed to make safe drinking water accessible to the rapidly growing populations in South Asia and beyond. With a wide product range, including devices, filters, and spares, Pureit has become a market leader not only in India but also in Bangladesh, Sri Lanka, Vietnam, and Mexico, among other regions.
“We are excited to welcome Pureit to the A. O. Smith family. Pureit’s history of providing effective water purification solutions has made it a leader in the water industry. Our cultures align closely, emphasizing innovation, best-in-class customer service, and premium products. Together, we will elevate our brand and expand our reach and impact across South Asia,” shared Parag Kulkarni, President, A. O. Smith Indian Water Products Private Limited.
“Aligning with A. O. Smith is a significant step forward for Pureit, enabling us to merge our strengths in innovation and market reach. Together, we look forward to setting new benchmarks in water purification and combining our shared commitment to quality and customer trust. This partnership with A. O. Smith empowers us to deliver even more advanced, reliable, and accessible solutions to address the evolving water purification needs in India,” commented Sreenivas Narayanan, General Manager, Pureit.
The acquisition, initially announced earlier this year, is not expected to have a material impact on A. O. Smith’s earnings within the first year. This move reflects A. O. Smith’s commitment to expanding its reach in the premium water treatment market, ensuring high-quality and accessible water purification solutions for consumers across South Asia and beyond.
Tira Beauty celebrates a major milestone this Diwali season by announcing the opening of two new stores in India—its 13th store at Seawoods Mall, Mumbai, and the 14th store at 1MG Mall, Bengaluru.
The news was shared with great enthusiasm, highlighting Tira Beauty’s commitment to expanding its offline presence and providing the signature Tira experience to more communities across India. "This marks an incredible milestone as we continue expanding our offline presence, bringing the Tira experience to more communities across India," stated Nirant Khedkar, Chief Operations, Tira Beauty.
With a strong focus on enhancing the customer experience, Tira Beauty’s stores are designed as immersive beauty destinations. The new outlets offer personalized consultations with trained beauty advisors, an exclusive selection of global and homegrown brands, and engaging in-store experiences where customers can explore and test products in real time. The brand emphasized its commitment to diversity, sustainability, and inclusivity, promising that beauty will be accessible and relatable for all.
The Tira team expressed immense gratitude to everyone involved in the successful store openings. "A massive THANK YOU to the dedicated Tira team, our partners, and everyone who worked tirelessly to bring these openings to life. Your hard work and passion are truly inspiring, and I’m grateful to be on this journey with all of you," the statement given by Nirant Khedkar.
Beauty enthusiasts in Mumbai and Bengaluru are invited to visit Tira Beauty’s latest stores at Seawoods Mall and 1MG Mall to discover their next beauty must-haves. The brand closed the announcement with high spirits, saying, "Here’s to many more milestones and the continued success of Tira Beauty! Happy Diwali.
Swiss smart wearable devices maker Garmin is targeting strong double-digit growth in India, which has become a key market where the company is prioritizing investments, according to an official from AMIT International Group (AIG), Garmin’s distributor in the country.
Alongside its popular range of smart wearables, Garmin produces marine devices for ships and boats, as well as outdoor handheld devices, and expects growth from these segments as well. Despite analyst firms like IDC forecasting a 10 percent year-on-year drop in the Indian smart wearable market for Q2, down to 29.5 million units, Garmin remains optimistic about its growth in the region, thanks to its strong product lineup and established brand value, said Deepak Raina, General Manager, AMIT GPS & Navigation, India.
“India is one of the markets where we want to focus and want to invest, because of the growing middle class here, which is one of the biggest in the world,” Raina shared.
Raina further noted, "Post-pandemic health consciousness is increasing, with people adopting more active lifestyles—trends that “reflect in our business results also. The company is aiming for “double-digit growth” in India. To drive growth further, AIG is working with financing companies to offer attractive installment payment options for Garmin products, making them more accessible to customers."
On Wednesday, Garmin launched the Fenix 8 series smartwatches in India, with a starting price of Rs 86,990.
AIG, which holds distribution rights for Garmin in other regions including the UAE, Saudi Arabia, Bangladesh, Nepal, and Bhutan, noted that the Indian market decline stems from an influx of low-quality smartwatches. “This degrowth sentiment is coming from watches, which claim to be smartwatches and not being able to fulfill the expectations and is spoiling the mood of the customer,” Raina said, adding, “We take this as an opportunity.”
India, the world’s second-largest wearable market after China, is an important part of Garmin’s growth strategy. AIG currently operates four exclusive Garmin stores in India and has plans to expand its retail network. Although Raina did not disclose the exact number, he mentioned that “several stores are in the pipeline.”
“These shops would help elevate the Garmin experience to its customers to the next level, on which we are already working. Besides, we have 200 dealers in the country with whom we are working,” he added.
"Garmin is also expanding its online presence. “Soon, we are going to be available on the key portals as well. We have received a lot of queries for online sales. So we are going to give those customers an option to purchase through the biggest websites (e-commerce) that we have in India,” said Raina.
In a niche market for premium smartwatches, Garmin is known for its advanced technology aimed at fitness enthusiasts, trekkers, runners, and athletes across categories such as fitness, outdoor, aviation, marine, and automotive OEM. “Technology will come with a price tag,” Raina added, noting that quality data cannot be expected from low-cost devices.
Garmin is also focusing on health initiatives with its division Garmin Health, which promotes healthy living and wellness.
In time for the festive season, Sunfeast Baked Creations has launched a premium range of Global Gourmet Cookies, inspired by popular international cafés. This retail offering in India brings a curated selection of cookie varieties using globally sourced ingredients, aiming to create an elevated experience for cookie enthusiasts.
The Global Gourmet collection includes three distinct options: Rich Choco Chip, Oats and Hazelnut, and Walnut and Choco Chip Cookies. Each variety showcases a unique blend of high-quality ingredients, such as Belgian choco chips in the Rich Choco Chip Cookies, Californian walnuts in the Walnut and Choco Chip Cookies, and Turkish hazelnuts in the Oats and Hazelnut Cookies.
This product line demonstrates Sunfeast Baked Creations’ effort to replicate a global cookie culture for Indian consumers, specifically catering to the premium segment in the country’s retail market. Designed to appeal to evolving customer preferences, the cookies are packaged for an "Ecom-First" strategy, catering to the increasing trend of premium consumers purchasing through online platforms.
Ali Harris Shere, COO of Biscuits and Cakes, ITC Foods Business said, “Ecommerce is growing exponentially, and consumers today are more willing than ever to pay a premium and explore unique, indulgent international formats and flavours when it comes to their snacking choices. The premium segment, now making up almost 15 percent of cookie sales on e-commerce, represents a growing market that Sunfeast Baked Creations aims to capture. This is a one-of-a-kind launch offering a cookie experience that recreates the same experience you have in an international café and it combines the best of global ingredient and local craftsmanship.”
Priced starting at Rs 130 for a 120-gram pack, the Sunfeast Baked Creations Gourmet Cookies will be available exclusively on ITC’s online store and quick-commerce platforms like Blinkit and Zepto, ensuring accessibility to customers in major metro areas across India.
In Q2FY25, Marico Limited, a key player in India's retail sector, reported Rs 2,664 crore in revenue from operations, marking an 8 percent year-over-year (YoY) growth. This growth was supported by a 5 percent increase in domestic business volumes and a 13 percent constant currency growth in its international business. Marico’s domestic revenue reached Rs 1,979 crore, reflecting an 8 percent increase as pricing adjustments in the Coconut Oil portfolio and favorable trends in Saffola Oils added to volume growth.
Marico noted stable demand in the Indian retail market, with rural areas growing at twice the rate of urban regions. "We closed the first half of the fiscal on a fairly positive note with the growth trajectory of the business heading in the right direction. We have delivered healthy volume-led revenue growth in the domestic business buoyed by sustained market share and penetration gains across core portfolios," stated Saugata Gupta, MD and CEO.
In the domestic segment, the Parachute Rigids brand achieved a 4 percent increase in volume, with a 10 percent rise in revenue due to strategic pricing moves. Saffola Edible Oils maintained steady volume, while revenues grew by 2 percent YoY. Marico’s Foods segment reported a significant 28 percent YoY value growth, crossing Rs 1,000 crore in annual recurring revenue (ARR) this quarter. The premium personal care segment, led by digital-first brands, reached Rs 525 crore in ARR for Q2, with Beardo performing above expectations, aiming for double-digit EBITDA margins by year-end.
Marico’s international business also performed robustly, with Bangladesh growing by 8 percent in constant currency growth (CCG), while Vietnam, MENA, and South Africa posted 7 percent, 43 percent, and 20 percent CCG respectively.
Marico’s Project SETU, a rural market outreach initiative, expanded to four more states, bringing the total to ten. Additionally, the brand’s alternate channels showed increasing relevance over general trade, with more than 80 percent of its domestic business sustaining or gaining market share.
Marico’s gross margin improved by 30 basis points (bps) YoY, balancing input cost rises in the domestic market with higher margins from digital-first and international business sectors. The company’s EBITDA margin was recorded at 19.6 percent, while EBITDA itself grew by 5 percent YoY. The reported profit after tax (PAT) increased by 20 percent, benefiting from a one-time income of Rs 42 crore from asset sales and legal settlements. Excluding these one-offs, PAT rose by 10 percent.
For the outlook, Marico aims to scale its Foods business to 20-25 percent CAGR, reaching twice its FY24 revenue by FY27. The digital-first segment targets an ARR of Rs 600 crore by FY25. Marico plans for the Foods and Premium Personal Care portfolios to constitute about 25 percent of domestic revenue by FY27. Internationally, Marico expects to sustain double-digit constant currency growth and achieve mid-term revenue growth goals despite inflation in copra prices and import duty hikes on vegetable oils.
Gupta emphasized, “Foods and Digital-first brands continued to ramp up impressively and reinforce the diversification agenda. The international business has exhibited remarkable strength despite challenging operating conditions in select markets.”
In H2FY25, Marico forecasts consolidated revenue growth to enter double digits, with a steady focus on managing input costs and maintaining margins.
V-Mart Retail Ltd has reported a substantial improvement in its financial performance for the September quarter, with its net loss significantly reduced to Rs 57.99 crore, compared to a Rs 86.42 crore loss in the same period last year. This shift demonstrates the company’s progress in narrowing losses and increasing its operational efficiency, even amidst a competitive retail landscape.
Known for its value retail offerings across fashion, home, and general merchandise, V-Mart continues to appeal strongly to customers in smaller cities and rural areas, positioning itself as a preferred retailer for budget-conscious consumers. The company saw a robust 20.3 percent rise in revenue from operations this quarter, reaching Rs 660.97 crore, up from Rs 549.43 crore in the corresponding period last year. This revenue growth highlights V-Mart's resilience and ability to meet the evolving demands of its customer base. However, total expenses also grew by 13 percent, amounting to Rs 720.73 crore, as the retailer continued to invest in inventory, operations, and infrastructure to support its growth.
In an earnings report, V-Mart noted a 15 percent year-on-year increase in same-store sales, indicating stronger foot traffic and customer loyalty at established locations. The company’s inventory levels reached Rs 912 crore, a strategic buildup to ensure that its stores are well-stocked to meet festive season demand. Additionally, the brand has continued to expand its physical presence, opening 21 new stores and closing 2 underperforming outlets during Q2 of FY25, bringing its total network to 467 stores across India. These new locations are part of V-Mart's strategy to deepen its reach into regional markets, capitalizing on increasing consumer spending in Tier II and III cities.
V-Mart’s performance was positively received in the stock market, with shares closing at Rs 4,450.30, marking a 1.43 percent increase from the previous close. This reflects investor confidence in the company’s efforts to drive sustainable growth and long-term profitability.
Omni-channel jewelry brand CaratLane – a Tanishq Partnership has expanded its presence internationally, opening its first store in the United States in New Jersey, as announced by a company official.
“While we have been available online to our customers in the US for a few years, we will now be able to offer them the full-stack omnichannel experience with the opening of this store,” said Atul Sinha, Chief Operating Officer, CaratLane.
CaratLane’s entry into the global market aligns with its recent landmark achievement of opening its 300th store in Mumbai, which launched on Karwa Chauth and was inaugurated by celebrity influencer Nancy Tyagi. Located in Malad, this store covers an area of approximately 900 sq. ft.
“The new store is located across from Infinity Mall, where we already operate another outlet. Customer response in Malad has been so positive that we have opened another bigger store to give them a better experience,” said Deepika Khare, national head – Business Development at CaratLane.
Founded in 2008 by Mithun Sacheti and Srinivasa Gopalan, CaratLane initially started as an online brand specializing in fine jewelry, including rings, earrings, bracelets, bangles, and solitaires. The brand quickly made a name for itself by offering affordable luxury and exquisite craftsmanship that appealed to modern consumers.
In 2016, the Tata Group saw potential in CaratLane’s innovative business model and made a strategic investment through its subsidiary, Titan Company Ltd., which now holds a 99.64 percent stake in the company. Earlier this year, Titan announced its intention to acquire the remaining 0.36 percent stake in CaratLane for Rs 60.08 crore, further consolidating its position within the Tata Group’s portfolio and underscoring its confidence in CaratLane’s growth trajectory.
Arvind Ltd., a prominent textile manufacturer, reported a 25.44 percent drop in consolidated net profit, which stood at Rs 62.77 crore for the second quarter ending September 30, 2024. This decline was primarily due to increased expenses and a one-time impact related to a rise in deferred tax provisions.
In comparison, the company achieved a consolidated net profit of Rs 84.19 crore in the same quarter last fiscal, as per its recent regulatory filing. Nevertheless, consolidated revenue from operations rose to Rs 2,188.31 crore this quarter, up from Rs 1,921.73 crore in the previous year’s corresponding period.
Total expenses for the quarter increased to Rs 2,065.57 crore, compared to Rs 1,821.72 crore in the same quarter last year. Additionally, Arvind Ltd. allocated a one-time provision of Rs 29.35 crore to account for the recent changes in long-term capital gains tax, impacting the profit after tax for the quarter.
The company noted a steady recovery from the challenges faced in the first quarter, marking significant progress along its growth path. "All plants operated normally, contributing to a strong performance. Despite ongoing geopolitical issues and pessimistic macroeconomic forecasts creating uncertainty, the company’s operating performance this quarter showed promising signs,” the company stated.
Arvind Ltd. also reported volume gains across its fabric and garment segments, driven by stable raw material costs and a favorable product mix. The textile division saw a revenue increase of 12 percent—the highest in nine quarters—reaching Rs 1,633 crore, while the advanced material division recorded a 9 percent rise, bringing in Rs 388 crore.
Looking ahead, the company expressed optimism about sustaining the strong performance seen in the second quarter into the upcoming quarters.
Zudio, the fast fashion brand under the Tata Group, has officially opened its newest and largest store in Faridabad, covering an impressive 11,053 square feet at the NHPC Metro Station Mall. This significant expansion underscores Zudio's commitment to providing trendy and affordable fashion to customers across India.
“We are thrilled to open this flagship Zudio store in NHPC Metro Station Mall. This store allows us to bring the latest in fashion trends directly to Faridabad, creating a convenient and enjoyable shopping experience,” shared Uddhav Poddar, CMD of Bhumika Group.
Since its inception in September 2016, Zudio has seen rapid growth, launching its first flagship store on Bengaluru’s Commercial Street. The brand has expanded to over 500 locations across India, solidifying its position as a leading player in the fast fashion market. In a major milestone for the brand, Zudio opened its first international store in the United Arab Emirates in September 2024, marking a pivotal moment in its global expansion strategy.
Looking ahead, Zudio has ambitious plans for continued growth, with aims to open up to 200 new stores during the 2024-25 fiscal year. This expansion reflects Zudio's strategy to enhance its market presence and provide customers with greater access to its trendy and affordable offerings. The brand's focus on expansion aligns with the increasing demand for fast fashion in India, where consumers are continually seeking new styles and options.
Founded in 1961, the Bhumika Group has diversified its business interests across various sectors, including construction, warehousing, logistics, mining, textiles, and manufacturing. The Group has established a nationwide presence with offices in Delhi, Rajasthan, Tamil Nadu, Bihar, and Kerala. One of its flagship projects is the Urban Square Mall in Udaipur, which stands as Bhumika Group’s largest real estate endeavor.
As Zudio continues to grow, it aims to further redefine the fast fashion landscape in India by ensuring that customers have access to the latest styles without compromising on quality. With the launch of its flagship store in Faridabad, Zudio is well-positioned to become a go-to destination for fashion-savvy consumers in the region.
Allen Solly, a pioneering brand under Aditya Birla Fashion and Retail, has made a bold statement with the launch of its largest store in India, located in the upscale Banjara Hills of Hyderabad. Spanning an impressive 5,300 square feet across three levels, this new flagship store aims to provide fashion enthusiasts in the city with a world-class retail experience, solidifying its position as a premier fashion destination.
The store’s launch introduces a fresh visual identity for Allen Solly, enhancing the in-store experience and offering a unique form of retail therapy. The design thoughtfully reflects the brand’s iconic heritage, including its Nottingham roots and signature Stag emblem. The contemporary layout is appealing and ensures shoppers enjoy a seamless and immersive journey through the brand’s extensive offerings. The store features over 10,000 styles, an exclusive wedding studio, and on-site professional tailors, catering to the growing demands of Hyderabad's consumers.
In addition to its striking new look, the store showcases Allen Solly’s signature collections for men, women, and juniors. Shoppers can find a diverse range of attire, from smart casuals to sophisticated formals, premium wedding wear, vibrant weekend wear, and chic workwear. For men, the store highlights Allen Solly’s renowned smart and business casuals, ideal for modern professionals seeking comfort and style. Women can explore an extensive selection of contemporary outfits, including elegant office wear and relaxed weekend ensembles, complemented by the widest collection of handbags. The juniors’ section offers fun, trendy, and comfortable options, ensuring that the younger generation is well-represented in the fashion landscape.
Richa Pai, Chief Operating Officer, Allen Solly said, “We are excited to unveil our flagship store at Banjara Hills, Hyderabad. With this store, Allen Solly embarks on a new retail identity, inspired from our rich Nottingham heritage. We offer an elevated shopping experience that combines sophistication, and contemporary design. With a wide array of menswear, and womenswear, and an expansive kids' collection, this store is tailored to the modern Indian consumer who embraces international style trends. We are confident this store will become Hyderabad’s go-to destination for fashion-forward consumers.”
The new Allen Solly store in Banjara Hills aims to redefine retail shopping in Hyderabad by blending the latest fashion trends with the brand’s rich heritage. With its impressive selection, personalized service, and an ambiance designed to delight, this store is set to become the ultimate destination for fashion enthusiasts across the city.
Locks by Godrej, part of the Godrej and Boyce business within the Godrej Enterprises Group, has been a trusted name in home safety in India for over 127 years. Aiming for 20 percent growth—outpacing the projected 14 percent market growth—the company is leveraging smart home integration, design-led innovation, and an expanded retail footprint across India to reach its goal.
With strong investments in technology and local manufacturing, Locks by Godrej is adapting its product range to meet the changing demands of Indian consumers. The company's strategy is centered around expanding its line of smart digital locks and advancing local production through enhanced automation and new technologies.
Shyam Motwani, Business Head of Locks and Architectural Fittings and Systems at Godrej and Boyce shared, “We are targeting 20 percent growth by leveraging our ‘Make in India’ philosophy and focusing on smart solutions that enhance home safety. Our commitment is to deliver reliable, innovative, and affordable safety products that cater to the diverse needs of families across the country.”
In line with the national 'Make in India' initiative, Godrej has been investing heavily in capacity-building within its manufacturing facilities, ensuring high production standards and supporting the local economy. Locks by Godrej offers a broad selection of advanced safety products, including new IoT-enabled digital locks and biometric systems, aimed at seamlessly integrating with modern home designs.
With the Indian home safety market currently valued at Rs 6,700 crore and projected to reach Rs 10,000 crore by 2027, Locks by Godrej is positioning itself to meet growing consumer demand with a variety of smart safety products catering to both premium and mass-market segments. The company's commitment to innovation and local production is aligned with its goal of providing cutting-edge safety solutions for households in both urban and semi-urban areas across India.
As the brand continues its expansion, Locks by Godrej remains dedicated to offering reliable, technology-driven safety solutions to secure homes throughout India.
The increase in counterfeit goods across India’s retail market, particularly during festive seasons, has raised concerns for numerous Indian and multinational brands. Consumers are often misled by counterfeit products, impacting both brand reputation and customer trust. Recently, Skechers USA Inc and Skechers USA Inc II, through their Indian entity, Skechers South Asia Private Limited, confronted a similar issue. Various counterfeit items bearing Skechers trademarks, including the distinct “SKECHERS” branding, have been observed in the market, potentially misleading consumers and harming the brand’s reputation in India.
To address this situation before the festive Diwali season when counterfeit sales peak, Skechers proactively sought legal action through the Bombay High Court and Delhi High Court. On October 24, 2024, the Bombay High Court granted Skechers an ex-parte injunction against infringers in Nashik and Indore, ordering a search and seizure of counterfeit Skechers footwear. Similarly, on October 25, 2024, the Delhi High Court granted Skechers an ex-parte injunction order against both known and unknown counterfeiters, commonly referred to as John Doe or Ashok Kumar, authorizing the seizure of counterfeit goods.
Following the court orders, Skechers conducted extensive search and seizure operations on October 26, 2024, across more than 15 locations in three states—Nashik, Indore, and Delhi. Supported by local police and appointed Court Receivers (Bombay High Court) and Local Commissioners (Delhi High Court), Skechers seized approximately 2,500 counterfeit items bearing its trademarks.
Khaitan and Co advised Skechers South Asia Private Limited in the legal proceedings. Counsel Hiren Kamod and Senior Counsel Chander M. Lall represented Skechers in the Bombay and Delhi High Courts, respectively, with support from Khaitan and Co team members, including Partner Smriti Yadav, Associate Shubham Shende, Principal Associate Kshitij Parashar, and Senior Associate Gautam Wadhwa.
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