Hershey India Pvt Ltd., a part of The Hershey Company, a leading global snacking giant and the largest producer of quality chocolates in North America, has announced the launch of a new variant Hershey’s Kisses Hazelnut ‘n’ Cookies as an addition to its Hershey’s Kisses range, under a unique platform ‘Nutty-For-You’, to enable consumers to express their emotions to their loved ones. With this launch, the brand aims to extend its unique proposition of expressing affection between loved ones by making moments special.
Millennials and Gen Z are increasingly opting for unique ways of expressing affection towards their special ones, often by way of chocolates. True to this spirit, Hershey India has introduced Hershey’s Kisses Hazelnut ‘n’ Cookies to its range of chocolates. This launch brings together melt-in-mouth delicious Hershey’s chocolate with crunchy roasted hazelnut and its signature cookie bits. Each piece of Hershey’s Kisses is uniquely and distinctively wrapped and offers a delectable experience.
Hershey India has been consistently adding innovative offerings to its portfolio to create unique chocolate experiences for its consumers. With the launch of Hershey’s Kisses Hazelnut ‘n’ Cookies, the brand continues to build its unique range, aiding consumers to express their feelings to their loved ones.
Geetika Mehta, MD, Hershey India said, “Brand Hershey’s strives to enable moments of togetherness. Taking this narrative ahead, we are delighted to introduce Hershey’s Kisses Hazelnut ‘n’ Cookies for consumers who are seeking ways to express their love, be it on special occasions or making routine moments special. Sometimes, words fall short, and, in those moments, our consumers can ‘Say it with a Kiss’. The introduction of this unique platform ‘Nutty-For-You’ and first of its kind combination of milk chocolate, hazelnut and cookie bits will prove to be a valuable addition to the current line of Hershey’s Kisses. With this launch, we are hoping to create unforgettable experiences for our consumers.”
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.
Chandon India, part of the esteemed Louis Vuitton Moët Hennessy (LVMH) Group, is marking a decade of redefining the sparkling wine segment in India. Since its debut, Chandon has led the market with a blend of exceptional craftsmanship, sustainable innovation, and bold expression. To commemorate this milestone, Chandon is releasing a limited edition Chandon Vintage 2015, crafted from the first grapes harvested at its Nashik winery.
This exclusive blend, aged over eight years, showcases floral and peachy notes balanced by a fresh, zesty profile with subtle toasty accents.
“The Vintage 2015 is a wine crafted to elevate any moment, from casual gatherings to truly unforgettable occasions. It offers a harmonious tension between freshness and complexity, with dry floral, peach, and grapey notes layered with the richness of baked apple, pastry, and toasty nuances,” shared Kaushal Khairnar, Winemaker at Chandon India.
Since 2014, Chandon has pioneered luxury sparkling wine in a market traditionally dominated by spirits, creating a unique segment with a current 60 percent market share in its category and an annual growth of 27 percent (IWSR 2024). The brand’s wines have also won over 40 international awards, including recognition at the Decanter World Wine Awards and the Champagne and Sparkling Wine World Championship, celebrating Indian craftsmanship on the global stage.
“Chandon’s journey in India is a showcase of our passion towards the Indian market, by bringing luxury products catering to the burgeoning consumer base. We have pioneered in building a new category and have now become the fastest-growing sparkling wine brand. Today, with the launch of the Chandon Vintage 2015 edition, we pay ode to the past decade and look to the future with a reinforced commitment to offering unparalleled wine experiences,” said Ipsita Das, Managing Director of Moët Hennessy India.
Chandon India’s diverse portfolio now includes Chandon Brut, Chandon Rosé, Chandon Delice, and Chandon Aurva—a Shiraz-inspired still red wine launched last year, bringing new expressions to wine enthusiasts across the country. Chandon has also made sparkling wine part of everyday moments, with 70 percent of its activations centering around brunch events such as "Brunch & Bubbles" and "Rosé O'Clock."
The Chandon India winery, nestled in the Nashik foothills, is the LVMH Group’s first significant investment in India, embodying the brand’s commitment to sustainable practices. Using drip irrigation, solar power systems, and 100 percent water recycling, the winery has reduced its carbon footprint by 550 tonnes annually. Growing foot traffic—up 56 percent in 2023—solidifies its standing as a premium destination for wine lovers, further contributing to India’s premium wine landscape.
The limited edition Chandon Vintage 2015 captures a decade of dedication and artistry, with each sip a tribute to Chandon’s pioneering journey in India.
India’s renowned beauty and wellness brand, Bodycraft, has inaugurated its 22nd clinic and salon, marking its first-ever location in Dehradun. Known for its wide range of customizable, state-of-the-art treatments, Bodycraft’s new outlet aims to cater to diverse beauty and wellness needs under one roof. The grand opening was led by chief guest Mr. Sunil Uniyal Gama, BJP politician and Mayor of Dehradun, welcoming Bodycraft into the capital of Uttarakhand.
The launch marks Bodycraft’s ongoing expansion across India, following successful openings this year in Bengaluru and Gurugram, with further growth planned in both northern and southern India.
With an impressive 5,232 sq. ft. facility, the Dehradun location offers comprehensive wellness services for clients of all ages. Swati Gupta, Director & Head of Creative Development at Bodycraft Salons highlighted, “The focus is to set the bar high and ensure our fully customizable services appeal to individuals of all ages. Whether you’re coming with a parent or teenager, our renewed focus lies on satisfying and catering to the diverse beauty and wellness interests of our customers. We have onboarded globally-trained and certified wellness experts and hair stylists, so patrons can expect a host of exciting services at the new outlet—from our signature spa and advanced facials to trendsetting nails and all things hair.”
The new year has seen Bodycraft introduce several next-generation treatments across its locations, with services focusing on slimming, hair regrowth (QR 678), skin boosters (SkinVive and Profhilo), and anti-aging (dermal fillers and wrinkle relaxers). Founded by industry visionary Manjul Gupta in 1997, Bodycraft has built a legacy over 27 years, now reaching customers nationwide through 22 clinics and salons.
Founder and Director of Bodycraft Salons expressed, “Dehradun seems to be on the cusp of turning cosmopolitan. There’s a young audience in this city, folks who understand and prioritize wellness. We want to tap into the market here, and fill the gap of a premium, luxurious clinic-salon in town, which is easily accessible to youngsters and the aged alike."
Dr. Mikki Singh, Founder, and Medical Director of Bodycraft Clinics commented, “Dehradun has hard water, so we’re confident that our hair services will garner love and offer patrons the results they desire. Timely and quality treatments like IV Wellness Drips, Hydra-Medi Facials, Chemical Peels, Coolsculpting, and the like can make a world of difference to their overall well-being. We have some of the country’s best experts on board to ensure superlative quality in the services offered. While IV drips might be novel for the region, we’re seeing an incredible amount of interest."
With a dedicated focus on quality, innovation, and accessibility, Bodycraft’s new Dehradun location sets a new benchmark for beauty and wellness, bringing sophisticated care and personalized treatments to Uttarakhand’s capital.
Nykaaland 2.0, co-produced by Nykaa, a leading beauty and lifestyle retail destination in India, and BookMyShow Live, offered a blend of vintage beauty aesthetics and modern trends for a unique experience. Across three days, over 25,000 attendees were immersed in a pastel-themed setting featuring retro elements and interactive spaces. The festival, which included over 4,00,000 beauty samples, allowed visitors to explore a variety of products through sampling and brand showcases, reinforcing Nykaa’s focus on India’s growing beauty and retail sector.
Highlights from Nykaaland were accessible via the Nykaa app, enabling broader participation. Attendees also benefited from educational masterclasses at The Highlighter Zone, attracting over 5,000 participants eager to learn from industry experts. The event’s Foundation Hangar featured 80 top beauty and fashion brands, showcasing both new releases and exclusive festival offerings. Notable brand debuts included Carolina Herrera, Versace, Jimmy Choo, and Laura Mercier, as well as cult favorites such as CeraVe and Moroccanoil. The event also attracted fashion brands like Puma, Footlocker, Revolve, Gajra Gang, and KICA.
Nykaa Beauty’s Executive Director and CEO Anchit Nayar commented, “Nykaaland 2.0 has redefined what a beauty celebration can be, exceeding our highest expectations with over 25,000 attendees. This extraordinary festival was not just a gathering; it was a powerful convergence of creativity and community that showcased the best of global beauty. We are energized by the overwhelming response and the opportunity to connect brands and consumers in meaningful ways. As we continue to push boundaries, our commitment to elevating the beauty journey for all is stronger than ever. The future of beauty in India is looking brighter than ever!”
BookMyShow’s Chief of Business – Live Events, Owen Roncon stated, “At Nykaaland 2.0, we aimed to inspire self-expression and redefine how India engages with beauty. We hope you had a fantastic time learning from top beauty experts while enjoying vibrant music and delicious culinary delights. Nykaaland is more than just a festival; it's a lively celebration of beauty, lifestyle, and creativity. This collaboration with Nykaa underscores our commitment to delivering exceptional experiences, pushing the limits of traditional live entertainment.”
Nykaaland featured a masterclass from Sofia Tilbury with Bollywood actress Shanaya Kapoor, showcasing the popular Pillow Talk look from Charlotte Tilbury. Nykaa’s Brand Ambassador Janhvi Kapoor engaged with attendees, while other notable appearances included Prajakta Koli, Manushi Chillar, and hairstylist Yianni Tsapatori, who joined various beauty booths. Actress Tara Sutaria’s appearance at the Bobbi Brown booth drew considerable attention, adding to the festival’s lineup of beauty icons.
The event also included music performances, such as DJ sets by Oaff and Savera, Kayan, and later, international music acts, creating an energized atmosphere. A fitness session led by Erika Packard in collaboration with KICA emphasized the connection between beauty, wellness, and mindfulness. Celebrity make-up artist Patrick Ta and Romero Jennings from M.A.C Cosmetics led masterclasses on red-carpet glamour and global beauty trends, attracting beauty enthusiasts interested in expert tips.
Engagement highlights included an interactive session with social media star Sakshi Shivdasani and a segment, "Date Night" with Varun Sood, featuring grooming tips. Comedian Sumukhi Suresh presented a body-positive comedy segment by Nykd by Nykaa, adding a light-hearted perspective on beauty and confidence.
The closing day featured music from Anuv Jain, wrapping up with a special appearance by Katrina Kaif at the Kay Beauty Blush Bar booth, and an interactive session with Kriti Sanon. The festival also featured beauty sessions led by makeup artists Mehak Oberoi and Meghna Kaur, as well as skincare insights from influencers like Sakshi Sindwani and dermatologist Dr. Jaishree Sharad.
Concluding the three-day event, DJs Lynston and Gurbaxx set a dynamic tone, bringing the festival to a close with a high-energy set. Nykaaland 2.0 highlighted India’s diverse beauty industry, creating an immersive experience that bridged beauty, retail, and entertainment for the growing audience. As the event concluded, anticipation builds for the next Nykaaland edition, promising innovative trends and new experiences in the evolving beauty landscape.
SHARP Business Systems (India) Pvt. Ltd, a wholly owned subsidiary of SHARP Corporation Japan, has launched its PureFit series of air purifiers in India, which includes the PureFit FX-S120, PureFit FP-S42M-L, and PureFit FP-S40M-T/W. This new line aims to enhance air quality in Indian homes through advanced filtration technology and stylish design. The air purifiers provide protection against pollutants while improving the ambiance of living spaces.
Each model in the PureFit series incorporates SHARP’s Plasmacluster technology, which utilizes positive and negative ions to neutralize airborne contaminants, allergens, and odors. Additionally, the purifiers feature Coanda Airflow Technology, which ensures uniform air distribution throughout the room, maintaining consistent air quality. The FX-S120 model is equipped with an Electrostatic HEPA Filter that captures 99 percent of particles as small as 0.02 microns and an Activated Carbon Filter that absorbs odors.
The FX-S120 and FP-S42M-L models also include AIoT capabilities, allowing users to control them remotely via mobile devices. Smart sensors monitor air quality, humidity, and temperature, while the purifiers offer six operational modes and a Quiet Mode for comfortable sleep hours.
In line with the 'Make in India' initiative, SHARP has introduced the PureWave series of semi-automatic washing machines, which includes PureWave, PureWave Plus, and PureWave Ultra. These washing machines combine advanced functionality with a fresh aesthetic. They incorporate Japan’s 7 Shield technology for durability, Quadroniq Pulsators for thorough cleaning, HydroBlast technology for tough stains, and Wave Dry Ring technology for efficient drying. User-friendly features such as Toughened Glass and a Soft-Close Lid enhance safety and design.
SHARP has also launched a new range of Single Door and Double Door refrigerators that feature stylish designs and modern technology, including Toughened Glass Shelves and Stabiliser Free Operation, alongside the 7 Shields protection technology.
Osamu Narita, MD of SHARP Business Systems India expressed, “We are committed to our ‘Make in India’ plans and are really happy to launch the range of air purifiers and new semi-automatic washing machines and refrigerators, where we blend it with advanced technology from Japan to offer our customers products that bring convenience to their daily lives. We will continue to focus on manufacturing in India and keep on surprising our customers with stylish designs and best technology that reflects their lifestyle and let them lead simply better lives. Next year, our focus will also increase in health and well-being as Sharp India completes 25 years in India.”
Mimoh Jain, VP of SHARP Appliances Division added, "At SHARP, we never stop innovating and providing solutions that meet the changing demands of contemporary homes. The PureFit series of Air Purifiers and our new range of washing machines and refrigerators reflect our commitment to enhancing lifestyle, convenience, and overall well-being of Indian consumers. We are also extending our range in water purifiers focusing on health with our Pure Sip series of RO + UV and sippers with Nanoflux cartridge and internationally proven UFM technology."
To celebrate the festive season, SHARP is offering exclusive rewards for customers purchasing any SHARP product. Each purchase will include a gift from the Kitchen Appliances section, such as a Hand Mixer, Stand Mixer, Kettle, Sanitizer, or Water Bottle. Additionally, under the Mega Reward promotion, 15 winners will receive a Gold voucher worth ₹10,000 each, and two couples will win round-trip flight tickets to Bali.
Just in time for the festive season, bigbasket, a TATA enterprise, has partnered with Tanishq, one of India's most respected jewelry brands, to provide exclusive gold and silver coins for Dhanteras. Customers can now order Tanishq's Lakshmi Ganesh Silver Coin (999.9 purity, 10 g), Tanishq 22 Karat Gold Coin (1 g), and Tanishq 22 Karat Gold Coin with Lakshmi Motif (1 g) via bigbasket and receive them at their doorstep within 10 minutes.
Dhanteras, which kicks off the Diwali celebrations, is considered a prime occasion for purchasing gold and silver to symbolize wealth and prosperity. bigbasket’s quick delivery model ensures that customers in various cities across India can honor this tradition with ease and convenience.
Seshu Kumar, Chief Buying and Merchandising Officer, bigbasket said, “Our partnership with the Tata ecosystem and in particular the collaboration with Tanishq is very strategic for us. We have always been known as a strong player in food & perishables as a category, however, with such collaborations, we hope that our customers see value in our extended offering – whether it is Gold & Silver coins or electronics or home appliances. This Diwali, bigbasket is committed to fulfilling all our customers' Diwali wish lists in 10 mins.”
Pelki Tshering, Chief Marketing Officer, Tanishq said, “We are thrilled to partner with bigbasket to bring our exquisite gold and silver coins directly to customers' homes. Dhanteras holds immense significance, and through this partnership, we aim to make it easier for people to partake in the time-honored tradition of purchasing gold, symbolizing prosperity and good fortune.”
The collaboration underscores bigbasket’s commitment to diversifying beyond groceries, tapping into the demand for high-value items like gold and silver. With a 10-minute delivery promise, bigbasket offers an ideal blend of trust, quality, and convenience, setting itself as the go-to destination for Diwali essentials this year.
Japanese sports performance brand ASICS has inaugurated its 111th brand store at DLF Promenade, New Delhi. In a move to expand its presence in India, ASICS launched the store with a strong focus on its SportStyle category, offering a blend of apparel and footwear designed to fuse heritage and modern design. A highlight of the event was the return of ASICS’ classic SKYHAND OG sneakers after a 30-year hiatus, with Bollywood star and brand ambassador Shraddha Kapoor unveiling the iconic shoes.
ASICS' SportStyle collection brings fresh energy into contemporary fashion by bridging timeless design elements with modern trends. ASICS India plans to establish 'Eleven' SportStyle-dedicated stores nationwide, showcasing the brand’s expanded offerings alongside its core Performance Running and Core Performance Sports lines. This strategic expansion reflects ASICS' commitment to aggressively growing its SportStyle segment in India, tapping into the brand's global product portfolio, which has achieved a notable 20-25% CAGR in the Indian market in recent years.
Rajat Khurana, Managing Director, ASICS India, and South ASIA said, “Our focus on India remains clear and constant, we are right on our projected growth trajectory with our 111th store launch today, aiming to touch 120 by the end of this year, and 200th by the end of 2026. To celebrate this milestone, we bring back the iconic SKYHAND OG Sneakers with our Brand Ambassador, Shraddha Kapoor. This marks just the start of our exciting journey to introduce many more innovative products to our already in-demand SportStyle category in the evolving Indian market.”
ASICS has experienced remarkable growth in India, with around 25 percent CAGR year-on-year, largely driven by its digital sales channels. Despite this, its offline stores play a critical role, accounting for approximately 60 percent of overall business. By expanding into tier I and II cities, ASICS is positioning itself as a leading choice for customers seeking footwear for running, athleisure, cricket, tennis, and indoor sports.
"It has been an incredible journey being a part of the ASICS family. Their commitment to innovation and quality has been inspiring. I am thrilled to be here in New Delhi to celebrate the launch of ASICS’ new store as well as the classic SKYHAND OG Sneakers that make a comeback after 30 years! I fell in love with them instantly for their fluid style, versatility, and comfort,” commented Shraddha Kapoor.
Shraddha further added, “ASICS has always been a brand that aligns with my passion for fitness, wellness as well as style. I am excited as I continue to share this journey with my fans and hopefully inspire them to push their limits, move their minds to prioritize their health and well-being."
With over 1,061 sales touchpoints across India, ASICS continues to build on its impressive growth and plans to sustain this momentum in the years ahead. The opening of its 111th store in New Delhi marks a significant milestone in ASICS' journey to cement its position as a premier destination for sports and lifestyle products in India.
Apple Inc. has announced plans to establish four new retail stores across major metropolitan areas in India, including Bengaluru, Pune, Delhi-NCR, Hyderabad, and Mumbai. This retail expansion follows the launch of Apple's flagship outlets in Mumbai and Delhi and reflects the company's intent to strengthen its market presence in India.
To support the new stores, Apple intends to hire around 400 new employees, encompassing both full-time and part-time roles. In line with its staffing model, which sees 90-100 staff members at each flagship location, Apple is particularly targeting recent graduates for part-time positions to provide industry experience and bolster its talent pool. Apple India has initiated its recruitment efforts, with job listings posted for positions such as technical specialists, operations experts, and supply managers. An Apple Retail leader recently shared this update on LinkedIn, highlighting Apple’s commitment to engaging and developing local talent.
The expansion will also feature Apple's 'Today at Apple' workshops, which provide expert-led guidance and interactive product sessions for customers. This initiative is designed to create an immersive, personalized shopping experience that enhances Apple’s existing retail and online channels in India.
This expansion is part of Apple’s larger goal in India, where the company aims to generate 600,000 jobs by the end of the fiscal year. Apple's direct workforce in India is projected to reach 200,000 employees by March, with an emphasis on increasing women’s participation in its workforce.
Though India currently represents a smaller share of Apple’s global revenue, this retail expansion highlights the country’s growing strategic importance and Apple’s commitment to the evolving Indian technology landscape.
BISSELL, a global leader in floorcare appliances and a trusted name in wet cleaning solutions, has entered the Indian market. With a legacy of 148 years in innovation, BISSELL aims to enhance household cleaning in India through its advanced vacuum cleaner range. This move reflects the growing demand for efficient cleaning solutions in the retail sector.
To facilitate its entry, BISSELL has partnered with Cavitak Global Commerce, a prominent distributor in India. This partnership combines BISSELL’s global experience with Cavitak’s local market expertise, ensuring effective distribution and support for Indian customers. BISSELL products are now available exclusively on Amazon.in, with plans to launch on Flipkart soon, followed by expansions to popular electronics retail outlets like Croma, Reliance Digital, and Vijay Sales.
Both products are designed to meet the high-performance expectations of Indian consumers. BISSELL also focuses on pet-friendly solutions, with products designed to assist pet owners in managing pet hair, dander, and odors effectively.
The Portable Wet and Dry Deep Vacuum Cleaner is versatile and capable of addressing a variety of cleaning needs in Indian homes. Its powerful suction and specialized attachments help remove curry stains, dirt, dust, and allergens from carpets and upholstery, while its compact design allows for easy maneuverability in tight spaces.
The CrossWave offers a combination of dry and wet cleaning, making it suitable for homes with different flooring types. Featuring dual-action brushes and a unique cleaning solution, this vacuum effectively removes both dry dirt and wet stains, ensuring a thorough clean even on stubborn spills.
Max Bissell, President of Global Markets at BISSELL Homecare Inc stated, "We are delighted to introduce BISSELL to this dynamic market, bringing innovative cleaning solutions tailored to the unique needs of Indian households. Our wet cleaning products seamlessly blend traditional cleaning values with modern convenience and efficiency. Our commitment to innovation and exceptional cleaning solutions aligns with India's aspirations for a cleaner, healthier lifestyle. With our new range of products in India, we are confident of providing exceptional cleaning solutions that align perfectly with the needs and aspirations of Indian consumers."
India presents significant growth opportunities for BISSELL due to increasing purchasing power and heightened focus on home hygiene. The Indian market's preference for wet cleaning solutions aligns with BISSELL's expertise, enabling the company to deliver effective cleaning products that cater to the evolving requirements of consumers in India.
Godrej Consumer Products Limited (GCPL), a prominent player in the FMCG sector, recently announced its financial results for the quarter ending September 30, 2024. Despite economic pressures in India, including elevated oil costs and consumer demand challenges, GCPL has shown resilience in its retail growth across markets.
Financial Overview for Q2 FY2025
CEO’s Insights on the Quarter’s Performance
Reflecting on Q2 FY2025, GCPL’s Managing Director and CEO, Sudhir Sitapati said, “GCPL has had a steady quarter given the headwinds of oil costs and tough consumer demand in India. Our Standalone business grew by 7 percent in both volume and value and flat reported EBITDA.” He noted that high palm oil inflation impacted EBITDA margins, currently at 24.3 percent, with additional pressure from import duties on oil. Sitapati believes this impact will be short-lived, expecting margin recovery through prudent price adjustments and cost stabilization.
Indonesia delivered a solid performance, with volume and revenue growth at 7 percent and 9 percent, respectively, while EBITDA rose by 17 percent. Although GAUM experienced a weak topline, it recorded a 33 percent growth in EBITDA, improving its margin to 14.4 percent.
“While the overall quarter was 5 percent organic UVG, 5 percent organic USG, and 8 percent reported EBITDA, the topline performance in Asia and the bottom-line performance in our international businesses have been encouraging,” Sitapati added. Strong volume growth across categories like Air Care, Laundry, Incense Sticks, and Sexual Wellness has been notable, along with a positive reception for the relaunched Household Insecticides with the RNF molecule.
India Business Update
Regional Business Updates
Appointment of Amisha Jain as Independent Director
On September 25, 2024, GCPL appointed Amisha Jain as Non-executive Independent Director for a five-year term. With extensive experience in the retail and consumer sectors, including her current role at Levi Strauss and Co., Jain has a robust track record in business growth and transformation. Previously, as CEO of Zivame, she led its strategic repositioning and expansion in the women’s apparel segment. Her expertise is expected to add strategic depth to GCPL’s board.
Jain’s background includes key roles with Arvind Group, Nike India, and McKinsey and Company, along with accolades such as the ET People-Focused CEO of the Year 2024 and recognition in the Economic Times’ “40 under 40” for India’s emerging business leaders.
Swiss smart wearable maker Garmin is targeting double-digit growth in the Indian market, a key area of focus where the brand is investing heavily, according to an official from AMIT International Group (AIG), Garmin’s distributor in the country.
In addition to smart wearables, Garmin also produces marine devices for ships and boats, as well as outdoor handheld gadgets, and expects growth in this segment too.
Despite analyst projections like IDC's forecast that the Indian smart wearable market will decline by 10 percent year-on-year in Q2, dropping to 29.5 million units, Garmin remains optimistic. The brand's strong product lineup and value are driving its positive outlook, says Deepak Raina, General Manager of 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 told PTI.
Post-pandemic, health awareness has surged, positively impacting business, with the brand “trying to get a double-digit growth” from the Indian market.
To reach its targets, AIG is collaborating with finance companies to offer easy payment plans for customers, enabling purchases in installments. On Wednesday, Garmin launched the Fenix 8 series smartwatches in India, starting at Rs. 86,990.
AIG, which also manages Garmin's distribution in regions like the UAE, Saudi Arabia, Bangladesh, Nepal, and Bhutan, attributes the local market decline to subpar smartwatches from other brands. “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,” he said, noting, “We take this as an opportunity.”
India ranks as the second-largest wearable market after China.
AIG currently operates four exclusive Garmin stores in India and plans to expand its retail presence, with multiple new stores in the pipeline. “These shops would help elevate the Garmin experience to its customers to the next level, on which we are already working,” Raina added. Garmin is also working with 200 local dealers and is gearing up for an online presence on major e-commerce platforms to meet customer demand.
Specializing in premium smartwatches for adventurers and athletes, Garmin remains committed to delivering accurate data, something Raina emphasizes is unattainable with cheaper alternatives. The brand's Garmin Health division continues to push healthy living initiatives.
Garmin's niche offerings span fitness, outdoor, aviation, marine, and automotive OEM segments, maintaining a strong foothold in high-quality wearable technology.
Heritage Foods Limited has announced its financial results for the second quarter ending September 30, 2024. The company, known for its milk and value-added dairy products, delivered steady growth across its segments in Q2 FY25.
Heritage Foods reported a consolidated revenue of Rs 10,105 million, marking a 4.2 percent year-over-year (YoY) growth. Earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at Rs 832 million, representing a YoY increase of 7.8 percent, with an EBITDA margin of 8.16 percent, up by 335 basis points. The company’s profit after tax (PAT) surged by 117 percent YoY to Rs 486 million.
For the first half of FY25, the company posted consolidated revenue of Rs 20,522 million, reflecting a YoY growth of 7.5 percent. EBITDA grew sharply by 102.7 percent YoY to Rs 1,770 million, while the EBITDA margin improved to 8.63 percent, a 404 basis points increase. PAT for the period rose by 173 percent to Rs 1,071 million.
Heritage Foods crossed the Rs 10,000 million mark in quarterly revenues for the second time this year, supported by a 4.2 percent growth.
Milk sales volume registered a 5.11 percent YoY growth, reaching 1.19 million liters per day (MLPD). However, revenue from milk sales showed a slight dip, with an average selling price of Rs 54.59 per liter, down by 0.31 percent from the same period last year.
Value-added products (VAP) continued their strong performance, growing by 15.5 percent to reach Rs 2,977 million, contributing 29.6 percent of total revenue, up from 26.8 percent in Q2 FY24. Including ghee and butter, the VAP revenue was Rs 3,506 million, reflecting a 19.2 percent growth and contributing 34.8 percent to total revenue.
Average milk procurement increased by 11.46 percent YoY to 1.64 MLPD in Q2 FY25, although the average procurement price decreased by Rs 2.94 per liter (6.81 percent YoY) compared to Q2 FY24. In preparation for the festive season, Heritage Foods launched several consumer campaigns, such as a TV promotion for paneer and a 'scan and win' offer for ghee and sweets, contributing to the momentum in the VAP segment.
Heritage Nutrivet Limited, a wholly owned subsidiary, reported an 18 percent YoY growth in revenue to Rs 855.37 million. The subsidiary’s PAT also saw a significant rise of 117 percent YoY, reaching Rs 42.94 million.
Brahmani Nara, Executive Director of Heritage Foods, attributed the company's strong performance to strategic initiatives such as geographic expansion, enhanced supply chain networks, and a focus on value-added products. “The value-added products segment has been crucial in driving higher margins, and our marketing efforts have strengthened our brand’s position,” she stated. She also highlighted the company's ability to navigate external challenges like adverse weather conditions while maintaining operational efficiency.
The company will host an earnings conference call on Friday, October 25, 2024, at 11:00 AM (IST) to discuss its Q2 FY25 financial results. Details of the call and further investor-related information, including segment results, are available on the company's website.
Heritage Foods continues to strengthen its presence in India's retail dairy market by expanding its product offerings and focusing on value-added products, setting the stage for future growth.
Sundeep Chugh, a veteran in the fashion retail sector, has been appointed as the Managing Director for OVS India, a prominent apparel brand. This strategic move is a significant milestone for the brand as it aims to expand its footprint in the Indian market, offering stylish and inclusive fashion inspired by Italian craftsmanship.
Chugh’s appointment underscores OVS's ambition to establish a robust presence in India, a market brimming with potential for growth in fashion retail. With over 25 years of experience across various industries, he brings extensive knowledge in profit center management, retail operations, sales and marketing, channel development and expansion, product management, turnaround strategies, high-growth initiatives, and people management. His impressive track record reflects his capability to navigate complex market scenarios and spearhead successful business transformations.
Throughout his career, Chugh has built a reputation as a strategic planner with significant expertise in executing market plans, developing networks, and implementing consumer-focused business strategies. His adept approach to product management and high-level strategic planning has been crucial in meeting revenue and profitability targets for the brands he has represented.
In his prior roles, Chugh served as President of BIBA Fashion Ltd, guiding the brand through substantial growth, and as CEO of Costa Coffee India, where he was instrumental in driving the company’s expansion and market penetration. His varied background across industries and proficiency in managing large teams will be essential in shaping OVS's strategy within the competitive Indian fashion landscape.
Sundeep Chugh stated, “It is a privilege to lead the journey of OVS in India, a brand that not only delivers exceptional Italian fashion but also embodies inclusivity with its vision of ‘LOVE PEOPLE. NOT LABELS.’ I look forward to building OVS India into a brand that resonates deeply with Indian consumers while maintaining the core values of quality and inclusivity.”
With Chugh at the forefront, OVS is set to bring its renowned Italian styles to Indian consumers, introducing a fresh perspective to the fashion scene while celebrating diversity and individuality. His appointment emphasizes OVS’s commitment to achieving success in India as the brand continues its global expansion under the leadership of a proven industry expert.
Club Mahindra, the flagship brand of Mahindra Holidays & Resorts India Limited (MHRIL), has announced the launch of its latest property, Club Mahindra Pavagadh, nestled in the picturesque landscapes of Gujarat. This new resort offers members an exquisite getaway, surrounded by the serene beauty of rolling mountains and expansive agricultural fields, making it an ideal destination for nature lovers.
Strategically located near major cities such as Vadodara, Ahmedabad, Rajkot, Surat, Udaipur, Nashik, Ujjain, and Indore, Club Mahindra Pavagadh provides the perfect escape for families looking to unwind and reconnect in a tranquil environment. The region of Pavagadh is celebrated for its scenic beauty and rich cultural heritage, inviting guests to explore its natural charm and historical significance.
Spanning across 7 acres, the Club Mahindra Pavagadh Resort features 100 well-appointed rooms designed to cater to families seeking relaxation and adventure. Guests can enjoy manicured gardens, a swimming pool, and a multi-cuisine restaurant, along with ample open spaces for various activities. The resort beautifully integrates indoor and outdoor living spaces, creating the perfect ambiance for unwinding and relaxation.
Bookings for Club Mahindra Pavagadh are now available on the Club Mahindra website and mobile app, allowing members to plan their idyllic retreat with ease.
Manoj Bhat, Managing Director & Chief Executive Officer, Mahindra Holidays & Resorts India Ltd said, “This launch aligns with our brand’s commitment to creating magical moments for our members. The proximity to the UNESCO-listed Champaner-Pavagadh Archaeological Park enhances the cultural richness of the resort experience. This launch reflects our vision of delivering exceptional vacation ownership experiences that blend comfort, culture, and nature seamlessly.”
MHRIL is dedicated to providing quality family holidays primarily through vacation ownership. The company offers a 25-year membership along with other products, including Bliss, Go Zest, and Club Mahindra Fundays for corporates, all through its flagship brand.
As of June 30, 2024, MHRIL operates 114 resorts across India and abroad. Additionally, its subsidiary, Holiday Club Resorts Oy (HCR) in Finland, is a leading vacation ownership company in Europe, managing 33 timeshare properties, including 9 spa resorts in Finland, Sweden, and Spain.
Triveni Engineering & Industries Ltd. (TEIL) has officially entered the Indian-Made Foreign Liquor (IMFL) market with the launch of two premium whisky brands: Matsya Triple Reserve Blended Whisky and The Crafters Stamp Rare Artisan Blended Whisky. These new offerings aim to meet the evolving tastes of Millennials and Gen Z by providing a superior and unforgettable sensory experience.
In a recent accolade, both brands received recognition at The Spiritz Selection Awards. The Crafters Stamp was honored with "The Grand Gold" award, while Matsya took home the "Silver" in the best product category for the whisky segment priced between Rs. 501 and Rs. 1,000. The Crafters Stamp, available at Rs. 950 for a 750 ml bottle, highlights Triveni’s commitment to quality and sophistication. This carefully crafted whisky blends Scotch malts, aged in bourbon and sherry oak casks, with mature Indian malts and premium Indian grain spirits. It delivers a layered taste profile featuring floral bouquets, toffee caramel, warm oak, and summer fruits, with hints of vanilla. Each sip is a rich and complex experience, catering to those who appreciate a refined drinking experience.
The Crafters Stamp’s packaging is designed to reflect luxury, with careful attention to detail in color, materials, and embellishments. It’s a whisky that stands out on the shelf and is crafted for Millennials who are discerning sophisticated, and value authenticity.
On the other end, Matsya Triple Reserve Blended Whisky, priced at Rs. 690 for a 750 ml bottle, appeals to a new generation of whisky lovers. The blend features full-bodied Scotch malts aged in bourbon and sherry casks, combined with mature Indian malts and Indian grain spirits. Each sip delivers notes of aromatic vanilla, sherry richness, and smooth honey, creating a memorable and vibrant drinking experience that resonates with Gen Z—a demographic that embodies cool, youthful energy.
Matsya's packaging exudes a bold identity, utilizing a distinctive teal color and a fluid design to appeal to younger consumers who seek uniqueness and style. It’s a whisky crafted for those who enjoy standing out and making a statement.
These brands were launched in July 2024 across 25 districts of Uttar Pradesh, targeting the super-premium and premium segments. Triveni has ambitious plans to extend availability throughout the state by FY 2026, aiming to cover over 5,000 retail outlets. With this move, TEIL aims to establish itself as a leader in the whisky industry, offering a world-class drinking experience.
Bharat Gandhi, Vice President & Head Operations (IMFL), Triveni Engineering & Industries Ltd. added, "With Matsya Triple Reserve Blended Whisky and The Crafters Stamp Rare Artisan Blended Whisky, Triveni is targeting the growing young population of the country including Gen Z and Millennials. Both brands are strategically positioned in the premium and super-premium whisky segments, catering to a young audience that values quality, craftsmanship, and a memorable drinking experience.”
Akash Premsen, Vice President (Strategy), Triveni Engineering & Industries Ltd said, “Our entry into the Indian Made Foreign Liquor (IMFL) market with our premium brands, Matsya and The Crafters Stamp, is a natural extension of our core strengths. This venture not only strengthens our manufacturing capabilities but also enhances our longstanding relationship with Uttar Pradesh, a state rich in potential for premium whiskey. We have thoroughly crafted these brands to resonate with consumers who seek quality and innovation, moving away from the offerings of the past two decades. Our commitment to brilliance is unwavering, and we are excited to introduce these exceptional products to a new generation of customers eager for superior choices."
As the Indian whisky market continues to expand, Triveni Engineering & Industries Ltd. aims to distinguish itself with these new launches, offering an elevated drinking experience that appeals to both connoisseurs and casual drinkers alike.
Chandni Chowk, a hub famous for its bridal wear, jewelry, and wedding essentials, is currently hosting the largest-ever Chandni Chowk Wedding Festival, coinciding with the launch of a new store by Senco Gold & Diamonds. The festival, taking place at Omaxe Chowk, runs until November 10, 2024, and promises a memorable shopping experience with a wide range of wedding fashion and jewelry options from some of Chandni Chowk's most esteemed retailers. The festive atmosphere was heightened with a special appearance by actress Mouni Roy, who added a touch of glamour to the event.
During the festival, shoppers can take advantage of exclusive discounts, special offers, and a range of exciting rewards. Customers who spend Rs. 50,000 or more are eligible for a weekly lucky draw with prizes that include gold coins, LED TVs, microwaves, washing machines, and refrigerators. For those spending over Rs. 1,00,000, there’s a grand bumper prize draw scheduled for November 10, offering a chance to win a Tata Nexon or a Royal Enfield Hunter. Additionally, daily shoppers who spend Rs. 20,000 or more can participate in the "Spin and Win" activity to secure assured prizes.
Jatin Goel, Executive Director, Omaxe Group shared, “We are thrilled to host the largest wedding festival in Omaxe Chowk, especially ahead of the wedding season. This festival celebrates India’s vibrant wedding traditions, offering brides and grooms from across the country a uniquely curated shopping experience. Chandni Chowk has always been synonymous with wedding shopping, and with Omaxe Chowk as the venue partner, we are elevating this experience to new heights.”
The festival features an impressive selection of jewelry from top brands like Kalyan Jewellers, Tanishq, Malabar Gold & Diamonds, and Caratlane. For wedding attire, the festival showcases collections of exquisite lehengas and sherwanis from renowned designers such as Tasva, White Hanger, Ram Chandra Krishan Chandra, Chabbra 555, Odhni, and Koskii. This all-encompassing event ensures that every aspect of wedding shopping is covered, positioning Omaxe Chowk as the ultimate destination for comprehensive wedding preparations.
Retail giant Shoppers Stop reported a consolidated net loss of Rs. 20.59 crore for the second quarter ending September 30, 2024, attributing the downturn to weakened consumer demand. This represents a significant shift from the same period last year, where the company posted a net profit of Rs. 2.73 crore.
The company noted that while profitability took a hit, its overall revenue saw a modest uptick. Shoppers Stop's total income for the July-September quarter rose by 7.13 percent to Rs. 1,124.62 crore, compared to Rs. 1,049.70 crore in the corresponding period of the previous year. The rise in income highlights a mixed quarter for the retailer, reflecting both growth and challenges in the current economic climate.
However, the company’s operational expenses grew, with total expenditures in the September quarter reaching Rs. 1,151.31 crore. Rising costs have posed a challenge as Shoppers Stop navigates a competitive and fluctuating retail environment.
In terms of expansion, Shoppers Stop continued to invest in its retail presence, despite the soft market. Over the July-September quarter, the company added 25 new stores to its portfolio, which included 19 Intune stores focused on tech and lifestyle products, 1 new Department store, and 5 HomeStop outlets specializing in home goods and decor.
“Demand was muted in July and August, impacted by fewer wedding dates, extended rains, and overall weak discretionary spending,” said Kavindra Mishra, Executive Director and CEO, Shoppers Stop.
As of now, Shoppers Stop operates a network of 112 department stores nationwide. Additionally, the retail chain has a diversified portfolio, managing 11 premium home concept stores and 87 Specialty Beauty stores featuring prominent international brands such as M.A.C, Estée Lauder, Bobbi Brown, Clinique, Jo Malone, Too Faced, and SS Beauty. Furthermore, Shoppers Stop has expanded its reach with 50 Intune stores and 20 retail outlets located at major airports, targeting a wide spectrum of consumer needs and preferences.
On the financial markets, Shoppers Stop faced a dip, with its shares closing at Rs. 712.05 on the Bombay Stock Exchange (BSE) on Tuesday, reflecting a decline of 2.32 percent. This dip in share price mirrors the cautious sentiment among investors as the retail chain grapples with evolving consumer trends and broader economic pressures.
Lenskart, a prominent eyewear retailer, has appointed Abhishek Gupta as its new Chief Financial Officer (CFO). Gupta, who previously spent nearly a decade as the CFO at OYO, takes over from Mukti Hariharan, who recently departed Lenskart in September to assume a position with Coca-Cola. Gupta's extensive financial expertise and experience at OYO make him a strategic fit as Lenskart eyes significant growth and international expansion.
Abhishek Gupta announced his move to Lenskart via LinkedIn, revealing that he transitioned from OYO in March. As the new CFO, his responsibilities are set to include leading Lenskart’s long-term strategic planning, refining financial strategies, and strengthening corporate governance. These efforts will be crucial as Lenskart continues to cement its position in the eyewear market, both domestically and internationally. Gupta’s appointment signals the company's commitment to reinforcing its financial backbone during a period of ambitious expansion.
This leadership change follows a recent capital injection, where Lenskart raised nearly $20 million from its co-founders: Peyush Bansal, Neha Bansal, Amit Choudhary, and Sumeet Kapahi. This funding is expected to fuel further growth and innovation, allowing Lenskart to enhance its offerings and expand its global footprint. The company's aggressive pursuit of financial stability and growth is evident in these strategic moves.
Currently, Lenskart operates a vast network of over 2,500 stores, with about 2,000 of them in India, which remains the core market. Approximately 60 percent of Lenskart's revenue is generated from its Indian operations, while the remainder comes from its international presence in key markets such as Singapore, Dubai, the United States, and Southeast Asia. The company has placed a strong emphasis on both domestic and global expansion, aiming to cater to diverse markets and reach new customer segments.
Financially, Lenskart has been on a solid upward trajectory. For the fiscal year ending March 2023, the company's operational revenue surged to Rs 3,788 crore, up significantly from Rs 1,502 crore in FY22. This impressive growth was supported by stringent cost management, enabling the company to cut its losses by 37.3 percent, bringing them down from Rs 102 crore in FY22 to Rs 64 crore in FY23. The revenue jump and reduction in losses highlight Lenskart's effective business strategy in navigating the competitive eyewear market while maintaining financial discipline.
Godrej Interio, a prominent home and office furniture brand in India under Godrej and Boyce, is set to enhance its online presence by increasing its e-commerce sales. This move is part of the brand’s strategy to create a personalized shopping experience in the growing digital retail landscape.
With the Indian e-commerce industry projected to exceed $350 billion by 2030, Godrej Interio is accelerating its digital transformation to meet the changing demands of modern consumers. Over the past year, the brand has seen significant growth in online sales, driven by a rising demand for home furniture that suits contemporary lifestyles. Godrej Interio now delivers products across 17,200 pin codes, significantly broadening its reach to customers nationwide.
Dev Sarkar, Senior VP and Head of Consumer Business (B2C) at Godrej Interio stated, “Our commitment to enhancing the consumer experience is at the core of our e-commerce strategy. As the digital retail sector experiences unprecedented growth, we are focused on creating seamless online shopping journeys that reflect the quality and innovation synonymous with Godrej Interio. By leveraging advanced digital tools and personalized marketing strategies, we aim to deepen our engagement with customers across India.”
Godrej Interio is transforming its digital presence through advanced e-commerce technologies. Its website features a 'Visual Search' tool that utilizes AI to recommend products based on customer-uploaded images and home configurations. Enhanced navigation, improved product visualization, and expanded digital marketing efforts ensure a smooth shopping experience. Additionally, the website offers a furniture exchange facility where old furniture can be traded for new items. The integration of the dealer network into the e-commerce platform allows for direct ordering and nationwide delivery, improving customer access and operational efficiency.
Alongside its online initiatives, Godrej Interio continues to innovate its product offerings to cater to a diverse customer base. The brand's focus on sustainability, design, and functionality reinforces its position as a leader in the home and office furniture markets. As the e-commerce landscape in India evolves, Godrej Interio is poised to play a crucial role in shaping the future of online furniture retail.
Godrej Interio designs and manufactures furniture for various sectors, including office spaces, homes, educational institutions, and healthcare facilities. The company also provides audio-visual and comprehensive turnkey solutions, focusing on comfort and aesthetics. With a presence in over 450 cities and numerous exclusive showrooms and dealer outlets, Godrej Interio remains one of the largest divisions of Godrej and Boyce. Its seven manufacturing facilities located in Mumbai, Khalapur, Haridwar, Shirwal, and Bhagwanpur are recognized for their sustainability certifications in the furniture category.
Omaxe Group, a prominent real estate developer in India, launched the ‘DELHI ARENA’ on October 19 as part of its Commercial Project, ‘The Omaxe State.’ This facility, the first integrated sports, retail, and cultural arena in India, has already sold out its first phase.
The event attracted over 5,000 attendees and featured performances by B Praak, who entertained the audience with popular songs, and Amit Tandon, who engaged the crowd with his humor. B Praak's performances included hits like "Ranjha," "Sari Duniya Jala Denge," and "Dil Tod Ke," captivating those present.
The celebration not only marked the launch of the DELHI ARENA but also highlighted the arena's capacity of over 50,000 spectators by 2027, complete with top-tier facilities for national and international events. An award ceremony also took place, recognizing key partners for their contributions to Omaxe's success.
Located in Dwarka Sector 19B, The Omaxe State is designed as India’s first integrated 5-in-1 commercial and sporting arena. With an investment of Rs 2,500 crore, this development spans over 50 acres and aims to meet international standards for sports, shopping, leisure, and entertainment.
Omaxe has received all necessary approvals for the project. Construction is slated to commence in the first quarter of 2025, with a completion target set for December 2027.
Mohit Goel, MD of Omaxe Group stated, “The Omaxe State is not just a project; it is a vision to elevate Delhi’s sports and entertainment ecosystem. For the first time in the country, we are bringing sports, retail, and entertainment together into one integrated hub. This event marks the launch of the “DELHI ARENA” at The Omaxe State as we work towards providing Delhi with a world-class venue for major sporting events and cultural gatherings.”
The Omaxe State aims to address Delhi's long-standing need for a venue to host international sporting events, highlighted by the lack of suitable facilities since the India vs. England World Cup semi-final in 1987. The project will feature a modern ICC and FIFA-standard international cricket and football stadium with a capacity of over 30,000, alongside an international indoor multi-sport stadium for 2,000 spectators. Additionally, the complex will include an Olympic-sized swimming pool, tennis, badminton, squash, basketball courts, and facilities for new sports like paddle court and pickleball.
Developed in collaboration with the Delhi Development Authority (DDA) under a public-private partnership model, The Omaxe State is set to transform the sporting landscape of the capital, drawing inspiration from renowned international venues such as the Queen Elizabeth Olympic Park in London and the Accor Arena in Paris.
Growel's 101 Mall in Kandivali has introduced Mumbai's first botanical walk, creating an innovative green space aimed at engaging and educating visitors about nature amid the urban environment. This initiative seeks to provide a tranquil retreat while enhancing awareness of environmental issues and sustainability. The launch event was attended by students from La Stella International Montessori, who were among the first to explore this unique integration of nature and urban life.
Located within the mall, the botanical walk serves as both a visual attraction and an educational resource, offering an edutainment experience for visitors of all ages. It features a variety of plants, flowers, and herbs that underscore the importance of biodiversity and sustainable practices. During their visit, the students participated in guided tours that enriched their understanding of sustainability and the environment.
Santush Pandde, COO - Real Estate at Grauer and Weil (India) Limited (Growel’s 101 Mall) stated, “We are thrilled to be the first mall in India to launch a botanical walk, and it was wonderful to welcome the students from La Stella International Montessori as our inaugural guests. This walk is more than just an attraction; it is a place for young minds to connect with nature, appreciate its significance, and cultivate a deeper understanding of sustainability. With this initiative, we are not only offering a unique experience but also taking significant strides towards meeting our ESG goals.”
In a city like Mumbai, where green spaces are limited and the landscape is characterized by high-rises and bustling streets, the botanical walk at Growel's 101 provides a vital green space, offering a refreshing escape from the urban environment. This initiative aligns with the mall’s broader objective to contribute to the community through efforts that enhance environmental and social well-being. Growel's 101 actively involves the community through various environmental and social initiatives, encouraging local residents to participate in sustainability efforts.
The botanical walk is open to the public, schools, community groups, and students interested in botanical studies. It is designed to enhance the aesthetic appeal of the space while serving as a center for community activities, including gardening workshops and environmental awareness campaigns. This initiative represents a blend of recreation, education, and social engagement, enriching the shopping mall experience meaningfully.
Bhumika Group, a key player in India's real estate sector, has announced the appointment of Sunil Yadav as President of Leasing and Business Development. With over 20 years of experience in leasing across retail, office spaces, and hospitality, Yadav will lead the company’s leasing initiatives, further strengthening its presence in the Indian market.
Yadav has worked with renowned International Property Consultants, including Knight Frank, and organizations like the Ashok Malhotra Group and Omaxe Ltd. His expertise in creating leasing strategies and delivering high-impact projects makes him a valuable asset to Bhumika Group’s growth plans.
Uddhav Poddar, CMD of Bhumika Group, commented, “We are excited to welcome Sunil Yadav to our team. His vision and expertise in the leasing domain will boost our growth trajectory. With his extensive experience and strategic insights, we are confident that he will significantly contribute to our company's continued success.”
Siddharth Katyal, CEO of Bhumika Group added, “We look forward to the positive change Sunil Yadav will bring to our organization. His innovative approach and industry knowledge align perfectly with our vision for the future, and we are confident that his contributions will lead to new milestones for the group.”
Yadav’s appointment is expected to play a crucial role in driving Bhumika Group’s expansion, focusing on creating innovative leasing solutions and delivering enhanced commercial and retail experiences across prime locations in India.
AZORTE, a premium fashion and lifestyle brand under Reliance Retail, has launched its Fall Festive campaign, unveiling a new collection set against the backdrop of London. As part of its expansion strategy, AZORTE has opened 12 new stores across various cities in India, including Jaipur, Udaipur, Raipur, Dehradun, Gorakhpur, Ranchi, and two additional stores in Bangalore, bringing the total to five in that city. This expansion highlights the brand's commitment to increasing its retail footprint across the country.
AZORTE is focused on transforming the shopping experience in India by offering a blend of premium international trends and contemporary Indian fashion. The brand caters to men, women, teens, and children, featuring a range of products designed with both style and sustainability in mind. The latest collection incorporates innovative fabrics that are both comfortable and eco-friendly, to empower customers to express their individuality confidently. Each store showcases a curated selection of owned and co-created design lines.
Akhilesh Prasad, CEO of Fashion and Lifestyle at Reliance Retail said, “AZORTE has established itself as a premier store format catering to our premium category and has seen impressive success since its launch in 2022. We are thrilled about our expansion plans, which will allow us to reach new cities and a broader customer base. The growth we’ve experienced has been remarkable, and our vision for the brand remains focused on delivering exceptional global styles to our customers. We are committed to tapping into new customer segments and elevating their experience with fashion that truly reflects their aspirations and lifestyle."
The Fall Festive collection features contemporary cuts and timeless silhouettes, catering to consumers looking for vibrant colors and distinctive patterns for both festive events and daily wear. AZORTE’s commitment to sustainability is reflected in its use of eco-friendly materials, aligning style with environmental responsibility.
In addition to fashion, AZORTE offers a comprehensive range of products, including western and Indian wear, fashion accessories, and beauty items. The brand focuses on combining luxury with practicality, offering customers options to elevate their personal style effortlessly.
AZORTE stores are designed to provide a seamless shopping experience, enhanced by advanced technology. Features like smart trial rooms, fashion discovery stations, endless aisles, and self-checkout kiosks ensure that shoppers enjoy a convenient and innovative retail experience. With the customer at the core of its approach, AZORTE continues to strengthen its position in India's premium fashion retail landscape.
DRRK Foods, the company behind Crown Basmati Rice, is set to invest Rs 20 crore to establish a state-of-the-art facility near Mundra Port, enhancing its capacity to cater to growing demand in the global rice market. Spanning 17 acres, the new facility will pack 350 metric tons of rice per day and is expected to be operational by February 2025. This development aligns with the company's expansion strategy and its commitment to delivering high-quality rice products efficiently.
The facility’s proximity to Mundra Port will optimize logistics for DRRK Foods’ rice exports, allowing the company to better serve international markets. This move marks a significant milestone in the company's efforts to strengthen its position in India's retail sector and broaden its global reach.
Amit Marwaha, MD and CEO of DRRK Foods said, "This investment showcases our dedication to expanding our operations and delivering excellence in rice exports. With a capacity of 350 metric tons per day, this facility will play a pivotal role in meeting the increasing global demand for high-quality rice. As a brand, we remain committed to innovation, growth, and excellence in every aspect of our business."
In addition to the Mundra facility, DRRK Foods is planning another unit with a capacity of 600 metric tons per day for paddy processing, either in Haryana or Madhya Pradesh. This project will involve an investment of Rs 60-70 crore, further enhancing the company’s production capabilities and supporting its growth in both domestic and international markets.
Through these strategic initiatives, DRRK Foods aims to solidify its presence in India's retail sector while continuing to expand its global operations.
Malabar Group’s family entertainment division, Playaza, is set to make a significant expansion in its footprint across Kerala, with plans to invest Rs 42 crore in the current financial year 2024-25. The company will be launching new Family Entertainment Centres (FECs) in Centre Square Mall, Kochi, by December 2024, and in Hilite Mall, Thrissur, by March 2025.
“With the addition of these two outlets Playaza will have a geographical presence in all major cities of Kerala,” said Niyas Ahmed, Director and Chief Executive Officer (CEO), of Playaza Entertainments.
Each of the new centers will cover an expansive area ranging from 20,000 to 25,000 square feet, designed to host a variety of attractions suitable for families and children alike. These FECs will feature an array of amusement rides, engaging video games, kiddy rides, soft play areas for younger children, bowling alleys, and cutting-edge virtual reality games that are sure to captivate visitors.
Playaza's strategic expansion does not end with Kerala; the company is already looking ahead to the next financial year with plans to enter key South Indian cities. With a projected investment of Rs 60 crore, Playaza aims to establish its presence in Bengaluru, Chennai, Coimbatore, and Hyderabad, thereby extending its reach to more urban centers in southern India.
Malabar Group, the parent entity of Playaza, is widely recognized for its diverse business operations. The conglomerate has established itself as a leader in the retail, manufacturing, and wholesale sectors of jewelry, and has a strong presence in luxury branded watches market, electronics, home solutions, real estate development, entertainment, and hospitality services. With an impressive annual turnover of Rs 52,000 crore, Malabar Group continues to leverage its multifaceted business model to drive growth and innovation in each of its verticals.
Havells India announced its Q2 results on October 17, 2024, reporting a year-over-year topline growth of 16.38 percent and a profit increase of 7.69 percent. However, the company faced a notable revenue decline of 21.82 percent and a profit drop of 34.24 percent compared to the previous quarter.
Regarding expenses, Selling, General & Administrative costs decreased by 6.11 peercent from the previous quarter but rose by 28.58 percent year-over-year, indicating a challenging operational landscape for the company.
Operating income saw a significant decline of 41.6 percent quarter-over-quarter and a 4.01 percent decrease year-over-year, highlighting the pressures in the current market environment. Havells India reported an Earnings Per Share (EPS) of Rs 4.61 for Q2, representing a 16.67 percent increase year-over-year, suggesting a positive trend in profitability despite the revenue challenges.
In terms of stock performance, Havells India has returned -6.85 percent over the past week but has recorded a strong 20.88 percent return in the last six months and an impressive 31.99 percent year-to-date return, indicating strong investor confidence in the company's long-term.
TTK Prestige, India’s leading kitchen appliances brand, has announced the promotion of Venkatesh Vijayaraghavan to the position of Managing Director (MD), succeeding Chandru Kalro. Venkatesh, who previously served as CEO, brings a wealth of leadership experience from his roles at Cavinkare and Airtel.
With Venkatesh at the helm, TTK Prestige is poised to continue its growth trajectory. The company will focus on enhancing consumer satisfaction and driving innovation in its product offerings, ensuring it remains a market leader.
T.T. Jagannathan, Chairman of TTK Prestige, expressed confidence in Venkatesh's leadership, stating, “As Venkatesh steps into this role, we are confident that he will be instrumental in driving growth and bringing substantial value to the company."
Avenue Supermarts Ltd, which operates the retail chain D-Mart, reported a 5.78 percent rise in its consolidated net profit, reaching Rs 659.44 crore for the second quarter ending September 2024. This is compared to a net profit of Rs 623.35 crore from the same period last year, as per the company's regulatory filing.
The company's revenue from operations increased by 14.41 percent to Rs 14,444.50 crore during the reviewed quarter, up from Rs 12,624.37 crore in the corresponding quarter of the previous fiscal.
Avenue Supermarts' total expenses also grew by 14.94 percent, reaching Rs 13,574.83 crore. Meanwhile, its total income, including other income, rose by 14.34 percent to Rs 14,478.02 crore.
During this quarter, D-Mart expanded by adding six new stores, bringing the total store count to 377 as of September 30, 2024.
Neville Noronha, CEO & Managing Director of Avenue Supermarts, commented: “Overall H1 FY 2025 like-for-like revenue growth was 7.4 percent for 2 years and older stores. The Q2 FY 2025 like-for-like revenue growth for the same cohort of stores was at 5.5 percent.”
DMart, promoted by Radhakishan Damani and his family, retails essential home and personal products across various states, including Maharashtra, Gujarat, Telangana, Andhra Pradesh, Karnataka, Tamil Nadu, Madhya Pradesh, Rajasthan, Punjab, NCR, Chhattisgarh, and Daman.
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