Marico’s Saffola Fittify Now Available on OneGreen
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Marico’s Saffola Fittify Now Available on OneGreen

Marico’s flagship brand Saffola Fittify has entered into an exclusive collaboration with OneGreen. The collaboration would enable Saffola Fittify to enter the rapidly growing conscious consumer market. It will also help the latter build a mainstream ecosystem facilitating conscious living.

As part of the deal, OneGreen is slated to be the exclusive new-age D2C/e-commerce partner for the existing range of Saffola Fittify, Marico’s Healthy Gourmet unit catering to the health-conscious segment of the FMCG market.

“Consumer beliefs and behaviors are changing fast and the pandemic has disrupted nearly every ingrained habit and the way people shopped earlier. Brands are wary of the consumers’ pursuit of a more conscious and healthier lifestyle which is evident in their buying behavior. The trend has brought about a new synergy between the market giants and new-age disruptors carving a niche with their sustainable business models. The Marico-OneGreen association is testimony to this welcome new wave that aims to bring the healthy living into the mainstream,” said Neha Gahlaut, Co-founder of OneGreen.

Brands like Saffola Fittify are well-versed in this change and have been taking steps to address the consumers’ concerns effectively. The coming together of manufacturers and digital retail platforms augurs well for the future growth of the segment. It is also expected to significantly boost the ease of access for conscious consumers.

“We could see a strong connection between the brand philosophy of OneGreen and Saffola Fittify’s commitment to building healthy food choices. Having Marico products on our platform would be a matter of pride and instrumental in building market confidence in conscious and healthy lifestyle products”, said Abhijit Bhattacharya, Founder, and Chief Business Officer, OneGreen.

Today, for any conscious and relevant brand, it is pertinent to reach out to almost 100 million conscious consumers in India via a platform like OneGreen that provides everything from personal care to groceries and staples; from baby to intimate hygiene, from home care to food and beverage and healthy snacks - aiming to satisfy an array of needs of its consumers in terms of availability and by assuring them of the quality. 

“With our strong focus on cost control, distribution expansion, aggressive marketing campaigns and driving penetration, we expect to deliver double-digit growth with healthy margins in the second half,” said Harsha V Agarwal, Vice Chairman and Managing Director, Emami.

 
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Retail India News: HCCB Names Harsh Bhutani as New CFO
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Retail India News: HCCB Names Harsh Bhutani as New CFO
 

Hindustan Coca-Cola Beverages (HCCB) has announced the appointment of Harsh Bhutani as its new Chief Financial Officer (CFO). In this crucial role, Bhutani will be responsible for steering HCCB’s financial operations, including business transformation, mergers and acquisitions, tax, treasury, audit, accounting and controls, reporting and analysis, and risk management.

I am pleased to welcome Mr. Harsh Bhutani as CFO. With his deep financial and business experience, strategic acumen, inspirational leadership, and proven track record of driving strong financial results, his presence will strengthen HCCB’s financial health, steer strategic decision-making, and further bolster stakeholder confidence,” said Juan Pablo Rodriguez, CEO, HCCB.

Bhutani brings a wealth of experience to his new position. Currently serving as the Vice President of Finance for the India and Southwest Asia operating unit of The Coca-Cola Company, he has played a pivotal role in the transformation of several key projects with system bottling partners across various parts of India and Southwest Asia. His strategic insights and leadership have been instrumental in driving significant financial improvements and operational efficiencies.

In his new role at HCCB, Bhutani will lead efforts to enhance financial performance and support the company’s growth ambitions. His extensive background in finance and operations is expected to drive the company’s strategic initiatives, ensuring robust financial management and fostering long-term sustainability.

The appointment of Bhutani is seen as a strategic move by HCCB to bolster its financial leadership and continue its trajectory of growth and innovation. As the company navigates a dynamic business environment, Bhutani’s expertise will be critical in guiding HCCB toward achieving its financial and strategic goals.

 

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Laura Ashley Partners with Bradford License India to Bring British Elegance to India
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Laura Ashley Partners with Bradford License India to Bring British Elegance to India
 

Laura Ashley, a British lifestyle brand renowned for its timeless elegance and quintessentially English charm, is set to captivate the Indian market. Known for its iconic floral prints, classic designs, and quality craftsmanship, the brand aims to establish partnerships through licensing across various product categories in India. This move is in collaboration with Bradford License India, a leading Indian licensing agency, targeting the burgeoning retail and India markets.

For over 70 years, Laura Ashley has brought British charm to homes, wardrobes, personal care, and lifestyle categories through a dynamic global licensing operation. This operation expanded further when Gordon Brothers acquired the brand in 2020, and it now spans across 81 countries. Laura Ashley’s network of product licensees, covering 210 global licensed product categories, is dedicated to designing, manufacturing, and retailing products that adhere to the brand's renowned standards of quality and elegance. Through its partnership with Bradford License India, Laura Ashley aims to identify new licensees in the country to introduce its fashion apparel, accessories, home furnishings, and other relevant categories to discerning Indian consumers.

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The Indian market's affinity for luxury and stylish home furnishings, coupled with a growing middle class, makes it the perfect landscape for Laura Ashley's entry. According to a recent report by Mordor Intelligence, the India Home Furniture Market is projected to be valued at $22.92 billion in 2024, with expectations to reach $38.38 billion by 2029, indicating a compound annual growth rate (CAGR) of 10.64 percent during the forecast period (2024-2029). Rapid urbanization significantly propels the growth of the furniture industry, as many young people are moving to cities seeking better employment opportunities and an enhanced quality of life. There is also a notable trend towards luxurious and fashionable furniture that not only improves aesthetics but also offers essential functionalities.

Bradford and Laura Ashley are targeting a launch at the beginning of 2025, focusing on categories such as textiles and soft furnishings, wallpaper, furniture, and upholstery.

Carolyn D’Angelo, President of Laura Ashley Global and Senior MD, Brand Operations at Gordon Brothers commented, “We are delighted to be working with Bradford License India to expand the brand globally. We will be partnering with Bradford License India to select strategic partnerships that are able to bring our distinct aesthetic to consumers throughout India. Following the global achievements of the brand over the last few years, including our successful seventieth year, and the relaunch of our fashion range, the time is right to expand and create a destination for Laura Ashley in India.

Bradford License India, known for its expertise in brand licensing and market expansion strategies, is equally excited about facilitating Laura Ashley's entry into the Indian market. Gaurav Marya, Chairman of Bradford License India said, “We are thrilled to facilitate Laura Ashley's grand entrance into the Indian market. This partnership aligns perfectly with our mission to bring iconic global brands to India, offering consumers here a taste of Laura Ashley's timeless elegance and quality. Our expertise in brand licensing and market expansion ensures that this collaboration will be a great success. We look forward to a fruitful partnership and are confident that Laura Ashley will be warmly welcomed by Indian consumers.

The partnership between Laura Ashley and Bradford License India marks a significant step forward for both entities, highlighting their joint commitment to growth and innovation. Plans are underway to introduce a variety of Laura Ashley products in India through a licensing model that develops through multiple retail channels, including exclusive brand outlets and online platforms. This partnership sets the stage for an exciting opportunity for Indian brands, retailers, and manufacturers to leverage the global recognition of Laura Ashley, opening a new chapter in India's retail industry.

For more information, visit: www.bradfordlicenseindia.com or Follow us on: https://www.instagram.com/bradfordlicenseindia/

About Bradford License India

Bradford License India, in affiliation with Bradford Licensing LLC is a leading global licensing agency specializing in brand licensing, retail merchandising, and market expansion strategies. Since its inception in 2010, Bradford has stood as India's pioneering end-to-end licensing solution provider, strategically designed to elevate brand awareness and catalyze the growth of licensing across the nation. With a portfolio of prestigious brands across diverse sectors, Bradford License India leverages its expertise and industry insights to create successful licensing partnerships and drive brand growth in the Indian market.

About Laura Ashley

Established in London in 1953, Laura Ashley is one of the world’s best-loved fashion and home furnishings brands. Currently, Laura Ashley offers a complete range of lifestyle products, including home furnishings and accessories, women's and children’s apparel, and hospitality experiences. Gordon Brothers, the global advisory and investment firm, acquired the global Laura Ashley brand, archives and related intellectual property in 2020. For additional information, visit www.lauraashley.com.com

About Gordon Brothers

Since 1903, Gordon Brothers has maximized liquidity through realizable asset value by providing the people, expertise and capital to solve business challenges. Our firm’s integrated solutions across asset services, lending, financing and trading give clients the insights, strategies and time to optimize asset values throughout the business cycle. We work across the full spectrum of assets globally with deep expertise in retail, commercial, industrial, brands and real estate. We are headquartered in Boston with over 30 offices across five continents. For more information, visit www.gordonbrothers.com

 

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Radico Khaitan Introduces Award-Winning Sangam World Malt Whisky to India
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Radico Khaitan Introduces Award-Winning Sangam World Malt Whisky to India
 

Radico Khaitan Limited, one of India's largest IMFL companies, is set to make waves in the retail and India markets with the introduction of Sangam World Malt Whisky. Launched just a year ago, Sangam has already received international acclaim, making its entry into the Indian market a significant milestone. Whisky enthusiasts across the country are eagerly anticipating the debut of this celebrated whisky, known for its exceptional quality and numerous prestigious awards.

Rampur Distillery’s Sangam World Malt Whisky has quickly risen to prominence, earning a gold medal at both the John Barleycorn Awards and the Beverage Tasting Institute's BTI Luxury Spirits Award 2023, held in the United States.

The latest addition to Radico Khaitan's portfolio, Sangam, takes its name from the Hindi word for "confluence," symbolizing the blend of Eastern tradition and Western whisky-making expertise. Globally praised, Sangam is renowned for its fusion of premium malts sourced from Europe and the New World. Its nuanced flavors and smooth finish have captivated whisky connoisseurs worldwide, reinforcing Radico Khaitan’s reputation for excellence.

Abhishek Khaitan, MD of Radico Khaitan said, “It's been incredibly rewarding to see Sangam World Malt Whisky from the House of Rampur make such a strong impression on the international stage by winning prestigious awards at the global stage, which speaks volumes about its quality and appeal. As an Indian company, it's a proud moment for us to have our product recognised globally, and now, we are excited for whisky connoisseurs here at home to experience the best of Eastern tradition and Western whisky-making expertise. This launch is a testament to our commitment to delivering world-class products that showcase the richness of Indian craftsmanship with a global touch.

Sangam Whisky entices with aromas of tropical fruits like lychee and green apple, combined with floral notes of rose and heather. Hints of citrus, caramel, cinnamon, and nutmeg add depth. On the palate, it offers creamy textures and fruity complexities, balanced with subtle peaty undertones. Flavours of cinnamon, nutmeg, and oaky vanilla emerge, accented by honey and a wine-like essence. The finish is long-lasting, showcasing a harmonious fusion of cultures, flavors, and traditions.

Sangam Whisky will be available in 750ml bottles, priced between Rs 4,000 to Rs 7,500, tailored to varying state excise structures. It will be accessible through select retailers and establishments across India, inviting whisky aficionados to rediscover Radico Khaitan's legacy of excellence.

 

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Retail India News: EssilorLuxottica Acquires Supreme for $1.5 Bn
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Retail India News: EssilorLuxottica Acquires Supreme for $1.5 Bn
 

EssilorLuxottica, the global eyewear giant, has agreed to acquire US streetwear brand Supreme for $1.5 billion. This strategic move marks the company's first major expansion beyond eyewear and lenses, aiming to enhance its retail presence in India and globally.

The Franco-Italian group will purchase Supreme from VF Corporation, which also owns popular brands like Vans, The North Face, and Timberland. VF Corporation originally acquired Supreme four years ago for $2.1 billion.

EssilorLuxottica’s CEO Francesco Milleri and Deputy CEO Paul du Saillant expressed, “We see an incredible opportunity to bring an iconic brand like Supreme into our company. It perfectly aligns with our innovation and development journey, offering us a direct connection to new audiences, languages, and creativity.

Following the announcement, EssilorLuxottica shares dropped nearly 3 percent in morning trading, though they remain up more than 10 percent over the past year.

Supreme, founded in 1994 in New York as a skateboarding and urban fashion label, has since expanded to Asia and Europe. The brand operates an online business and 17 global stores. Supreme’s founder, James Jebbia, described EssilorLuxottica as a unique partner that will allow Supreme to focus on its brand and products.

Luca Solca, an analyst at Bernstein, noted that the acquisition was surprising as it ventures outside EssilorLuxottica's traditional eyewear market and focuses on streetwear, a segment currently facing challenges.

EssilorLuxottica, known for brands like Ray-Ban and Oakley, was formed in 2017 through a €50 billion merger of Luxottica and French lens manufacturer Essilor. Last year, the company launched audio-video embedded glasses in partnership with Meta and acquired an Israeli hearing technology start-up to develop glasses with acoustic beamforming technology.

Insiders suggest that the move to acquire Supreme is not an abrupt shift into apparel, but rather a strategic effort to leverage Supreme's platform and extensive data on Gen Z consumers to engage younger audiences.

In addition to acquiring Supreme, EssilorLuxottica announced an 80 percent stake purchase in Heidelberg Engineering, a German company specializing in diagnostic solutions, digital surgical technologies, and healthcare IT for clinical ophthalmology.

VF Corporation has been under pressure from activist investor Engaged Capital to cut costs and consider potential divestments. In February, VF added a new board member after discussions with Engaged Capital and plans to appoint another independent board member agreed upon by the investment group.

 

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Bata India Focuses on Top Brands to Drive Retail Growth
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Bata India Focuses on Top Brands to Drive Retail Growth
 

Bata India is aiming to expand its footprint and boost same-store sales growth by emphasizing its "top six brands," according to its latest annual report.

Gunjan Shah, Managing Director and CEO of Bata India, highlighted the company's strategy to enhance retail business through the expansion of its successful Floatz brand across more stores and the introduction of new ranges. Additionally, the company is capitalizing on the positive reception of its Power apparel launch.

"We are committed to expanding our retail presence and driving same-store sales growth, which are crucial for our retail operations. Our focus remains on unlocking new opportunities by prioritizing our top six brands alongside Bata Core," Shah stated.

Bata India currently operates a retail network comprising over 1,850 stores, including more than 500 franchise stores, 650 sneaker studios, and over 125 Hush Puppies stores. The company's distribution network spans across over 1,500 towns, with 72 percent of stores equipped with enhanced in-store technology.

In the fiscal year 2023-24, Bata India reported sales amounting to Rs 3,478.4 crore, marking a 2 percent increase in operating profit margin compared to the previous year.

 

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Retail India News: Bata India Surpasses 500 Franchise Outlets for the First Time
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Retail India News: Bata India Surpasses 500 Franchise Outlets for the First Time
 

Footwear giant Bata India has achieved a significant milestone, surpassing 500 franchise outlets for the first time. This achievement reflects the growing interest in opening franchise stores under the brand. In the last financial year, Bata India's presence strengthened with over 1,860 retail stores across the country, including franchisees.

“Your company continues to expand its retail network, renovate stores to elevate customer experience, and accelerate expansion through franchise and distribution networks. Due to strong brand recall, your company has been witnessing increasing interest for opening of franchise stores,” Bata said in its annual report for FY24.

As Bata crossed the milestone of 500 franchise stores, its distribution channel expanded to over 1,500 towns.

Our expansive retail store network now encompasses an impressive 1,850-plus doors, registering some notable milestones – we opened 500-plus franchise stores, 650-plus sneaker studios — a haven for sneaker enthusiasts with single walls adorned with a plethora of sneaker styles and 125-plus Hush Puppies stores. 2024 presents a clear opportunity to leverage the foundation laid down in 2023 and proceed further on our sustainable profitable growth agenda,” stated Gunjan Shah, MD and CEO, Bata India.

During FY24, Bata experienced steady growth in demand for premium and casual footwear, which increased the average selling price (ASP) and boosted the share of higher category products in brands such as Hush Puppies, Red Label, Floatz, and North Star. “Our strategy for premiumization continues progressively,” the company noted, adding that as Indian consumers move up the income pyramid, there is a surge in demand for premium products in small towns.

“Aspirations for branded products, ease of digital payments, and the impact of digital marketing and social media attracted consumers from tier 3-5 cities,” the company stated.

Last fiscal year, Bata launched its first exclusive Power Brand store, catering to fitness enthusiasts.

The company also successfully implemented a voluntary retirement scheme (VRS) at its Southcan unit in Bengaluru, offering around Rs. 40.90 crore for the VRS. Bata currently operates four manufacturing plants, including the Southcan unit.

Bata highlighted that the Indian footwear industry has shown resilience after the pandemic and is exhibiting a healthy revival. Industry growth is expected to be driven by higher disposable incomes, a desire for branded and comfortable footwear, and changing fashion trends and consumer preferences.

However, factors such as domestic inflation, rising rentals in the commercial real estate market, enhanced volatility in global financial systems, escalation of geo-political stress, etc, may challenge India’s footwear market growth,” the company further stated.

 

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Retail India News: Dell Unveils AI-Powered XPS 13 and Inspiron 14 Plus Laptops
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Retail India News: Dell Unveils AI-Powered XPS 13 and Inspiron 14 Plus Laptops
 

Dell Technologies has introduced its latest Copilot+ AI PCs in India, unveiling the new XPS 13 and Inspiron 14 Plus models. These laptops mark a significant advancement in AI capabilities, powered by Qualcomm Snapdragon processors. The XPS 13 is equipped with the Snapdragon X1 EliteX1E-80-100 CPU, while the Inspiron 14 Plus features the Snapdragon X Plus X1P-64-100 processor, offering enhanced performance and seamless multitasking with all-day battery life.

Raj Kumar Rishi, VP and MD, Consumer and Small Business, Dell Technologies, India said, "We're thrilled to introduce our Dell Copilot+ AI PCs to the Indian customers. This innovative lineup, powered by Qualcomm Snapdragon processors, demonstrates our commitment in empowering users to achieve more and unlock their full potential with AI technology.""

Pujan Chadha, Director, Product Marketing, Consumer and Small Business, Dell Technologies, India highlighted, “With the new XPS 13 and Inspiron 14 Plus, we are setting the latest benchmark in personal computing. Equipped with AI capabilities that intuitively adapt to users’ needs, offer smarter performance and connectivity, and seamless multitasking, these devices open AI experience to a new array of users.

Saurabh Arora, Mobile, Compute and XR Business Head, Qualcomm India Pvt. Ltd said, “We are thrilled to collaborate with Dell to bring the revolutionary Snapdragon X Series platforms to the latest XPS 13 and Inspiron 14 laptops, transforming PC experiences in India. United by our mission to innovate, this partnership marks a pivotal development in India's PC ecosystem. Snapdragon X Series' advanced AI capabilities and unmatched power efficiency will redefine the user experience, enabling seamless multitasking, enhanced security, and a wide array of other use cases. The platforms offer cutting-edge AI features for creativity, video conferencing, security, and productivity, with rapid performance and enhanced security through the Qualcomm Sensing Hub. Users will benefit from extraordinary performance, battery life, and new AI experiences, making this a significant leap in the AI PC era, catering to the evolving needs of both consumers and professionals.

The XPS 13 sets new standards with its sleek design and powerful Snapdragon X1 Elite X1E-80 CPU, delivering up to 27 hours of battery life. The OLED display option offers increased brightness and efficiency, making it the longest-lasting Snapdragon laptop for streaming.

The Inspiron 14 Plus focuses on versatility, featuring on-device AI, dual microphones for voice commands, and up to 21 hours of local video playback. Its Snapdragon compute platforms support various applications, ensuring mobility and productivity across tasks.

The XPS 13 and Inspiron 14 Plus introduce innovative AI experiences:

  • Cocreator: AI-generated images using descriptive words and brushstrokes.
  • Live Captions: Real-time translation of audio from 44 languages to English.
  • Windows Studio Effects: Creative lighting adjustments and filters for enhanced collaboration.

The new Dell XPS 13 starts at Rs 1,39,990, while the top-end variant costs Rs 1,69,990. The Dell Inspiron 14 Plus base variant is priced at Rs 115,590, with the higher-end model at Rs 119,590. These laptops will be available on Dell.com, large format retail partners, multi-brand outlets, and Amazon.in starting July 16, 2024.

 

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Retail India News: Pee Safe Strengthens Retail Presence with New VP-Sales Appointment
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Retail India News: Pee Safe Strengthens Retail Presence with New VP-Sales Appointment
 

Pee Safe, a leading hygiene brand in India, has appointed Arijit Sen as its new Vice President-Sales to bolster distribution and enhance its retail strategy. Arijit Sen joins Pee Safe with extensive industry experience, having previously served as General Manager at Healthkart, where he successfully scaled distribution to 40,000 premium outlets across India. His achievements include securing category leadership for brands like Muscle Blaze in major modern trade chains such as Reliance, Max, and Wellness Forever.

With over two decades in sales, key accounts management, and trade marketing across sectors including personal care and food and beverages, Sen brings a wealth of expertise to Pee Safe. His appointment is expected to drive significant growth and innovation within the company.

I am excited to join Pee Safe, a company I feel deeply connected to. I see this as an opportunity to leverage my experience and contribute to sustainable growth in the personal hygiene category,” said Sen.

Rithish Kumar, Co-Founder of Pee Safe said, “We are thrilled to welcome Arijit to the Pee Safe family. His proven track record and leadership will be instrumental as we expand our retail footprint, innovate across formats, and penetrate key markets.

The intimate hygiene market in India, currently valued at Rs 8000 crore, is projected to double in size to Rs 15,000 crore over the next five years. Pee Safe aims to capitalize on this growth by enhancing visibility through point-of-sale marketing, promoter activation, and direct customer engagement.

We have already served over 10 million women and plan to reach an additional 10 million in the coming years through our extensive retail network across India,” Sen added.

Pee Safe is also poised to capture a significant share of India's Rs 7,000 crore sanitary market with its innovative products like Ultra-Thin Sanitary Pads and Disposable Period Panties. The company continues to innovate, recently introducing a portable bidet for travelers and expanding its range of personal hygiene solutions.

 

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Retail India News: Noble Group to Invest Rs 350 Cr in Ghiloth Manufacturing Unit
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Retail India News: Noble Group to Invest Rs 350 Cr in Ghiloth Manufacturing Unit
 

Noble Group, a prominent player in consumer electronics and appliances, is set to invest Rs 350 crore in a new manufacturing facility in Ghiloth. This substantial investment aims to enhance the company's production capabilities specifically for air coolers and washing machines.

The upcoming facility is expected to significantly increase Noble Group's annual production capacity, scaling up from 400,000 to 1 million units for washing machines and from 300,000 to 600,000 units for air coolers. This strategic expansion aligns with Noble Group's goal to secure a 15 percent market share in the air cooler segment and an 8 percent market share in the semi-automatic and fully automatic top-load washing machine segments.

The decision to invest follows the Indian government's supportive policies under the "Make in India" initiative, including initiatives like the Bureau of Indian Standards (BIS) and Production Linked Incentive (PLI) schemes. These measures have spurred manufacturers across the country to ramp up production capacities in response to growing domestic demand for consumer appliances. Current penetration rates for products such as air conditioners, washing machines, and refrigerators in India range from 6 percent to 16 percent, underscoring significant growth opportunities.

Sarbjit Singh Kalra, Chairman of Noble Group said, "The Make in India initiative has provided a robust framework for domestic manufacturing, and Noble Group is committed to contributing to this vision through our investment in state-of-the-art production facilities. Our objective is to meet the increasing demands of Indian consumers with our innovative and high-quality products."

Noble Group has built a reputation as a reliable contract manufacturer in the consumer electronics and appliances sector, serving 31 leading brands in India over the years. The addition of the Ghiloth unit will further strengthen Noble Group’s ability to support its partners and cater to the expanding market demands.

 

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Retail India News: Shalimar Paints Launches Waterproofing Solutions for Indian Homes
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Retail India News: Shalimar Paints Launches Waterproofing Solutions for Indian Homes
 

Shalimar Paints Ltd, a prominent player in the Indian retail paints market with over 120 years of history, has introduced two new products: Zero Damp Advance and Zero Damp Smart. These additions to the Home Protect Waterproofing range aim to set new standards in the industry, offering robust protection against seepage with up to 12 years of performance warranty.

Shalimar Paints’ Zero Damp elastomeric waterproof coating is designed with fibers to create a strong waterproof shield, preventing both internal and external seepage. Supported by advanced technology and research, the coating features heat reflection capabilities to reduce surface temperatures, providing cooler indoor spaces during hot summers. To promote this launch, Shalimar Paints initiated the #IntelligentBanoJugaduNahi campaign, addressing the common Indian preference for temporary fixes over permanent solutions for seepage. Influencers Saurabh Jain and Palak Shah collaborated with the brand to encourage their followers to share their temporary solutions for hiding seepage and highlighting the effectiveness of Shalimar Paints Zero Damp products.

"Dampness is a problem witnessed by almost every Indian household, particularly in areas with high humidity or heavy annual rainfall. We are pleased to announce our two innovative products in the ZERO Damp Range that will protect your spaces from internal and external seepage and solve all your problems including dampness, cracks, flaking, fungal growth, and efflorescence. At Shalimar Paints, we are committed to delivering superior solutions that underscore our dedication to providing our customers with products that not only protect but also enhance the longevity of their homes,” said Kuldip Raina, Director of Sales and Marketing at Shalimar Paints.

Varun Malik, Marketing Head at Shalimar Paints added, "As most people do not take the problem of seepage seriously, which leads to grave damage later, we also launched the #IntelligentBanoJugaduNahi campaign to raise awareness, on social media. The response has been overwhelmingly positive, and we believe it has successfully educated the importance of addressing seepage issues proactively."

Zero Damp Advance offers double seepage resistance, crack bridging up to 3 mm, and can endure up to 20 percent wall moisture, backed by a 12-year warranty. Its anti-algal and anti-fungal properties help maintain a healthy environment, especially during the rainy season. Meanwhile, Zero Damp Smart provides cost-effective waterproofing with a 3-year seepage warranty and effective water damage protection. These products were launched at an event in Dubai, UAE, attended by over 300 dealers and partners.

Shalimar Paints' focus on quality and innovation underscores its commitment to staying competitive in the evolving paint market. The company continues to enhance its infrastructure, invest in cutting-edge R&D facilities, and revolutionize its product offerings to meet consumer needs in India.

 

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A.O. Smith Acquires Pureit from Unilever, Expands Reach in Indian Retail Market
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A.O. Smith Acquires Pureit from Unilever, Expands Reach in Indian Retail Market
 

Global water technology company A.O. Smith Corporation has announced the acquisition of Pureit from Unilever. Pureit, known for its range of residential water purification solutions, primarily operates in India. The acquisition is expected to close by the end of 2024 and is projected to have no material impact on earnings in the first year.

We believe the addition of Pureit will strengthen our leadership position as a global supplier of premium water treatment products and will double our market penetration in South Asia. The acquisition will also support our corporate strategy by enhancing our premium product portfolio and distribution capabilities,” said Kevin J. Wheeler, Chairman and CEO of A.O. Smith.

Kevin J. Wheeler emphasized that Pureit’s strong brand recognition and innovative water purification products complement A.O. Smith’s existing presence. “The Pureit team’s deep understanding of consumer needs and water treatment expertise adds tremendous strength to A.O. Smith in India. We look forward to welcoming the Pureit team to the A.O. Smith family,” he added.

Rohit Jawa, CEO and MD of Hindustan Unilever Limited said, “This move aligns with our strategic intent to focus sharply on our core categories. Pureit provides essential water purification solutions to millions of loyal consumers, and I am confident the brand will thrive further under the ownership of A.O. Smith.

 

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Xiaomi India Sees 77 Pc Profit Decline to Rs 239 Cr, Revenue Falls to Rs 26,697 Cr in FY23
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Xiaomi India Sees 77 Pc Profit Decline to Rs 239 Cr, Revenue Falls to Rs 26,697 Cr in FY23
 

Chinese smart device manufacturer Xiaomi Technology has reported a substantial 77 percent year-on-year decline in its profit within the Indian market, plunging to Rs 238.63 crore for the fiscal year 2022-23, according to disclosures made in a regulatory filing. This stark decrease contrasts sharply with the Rs 1,057.7 crore profit recorded in the preceding financial year.

Alongside the profit decline, Xiaomi also witnessed a notable 32 percent reduction in revenue from operations, which fell to Rs 26,697 crore during FY23, down from Rs 39,100 crore in FY22. The company’s revenue composition included Rs 26,395 crore from product sales and Rs 264 crore from services such as advertisements and value-added services.

Despite facing challenges, including a 25 percent drop in smartphone shipments throughout 2022, spanning three-quarters of FY23, Xiaomi maintains its leadership position in the Indian smartphone market with a commanding 21 percent market share, as reported by market research firm IDC.

Analysts have provided varied estimates of Xiaomi’s market share in the Indian smartphone segment for the March 2024 quarter. Cybermedia Research suggests a slightly lower market share compared to Samsung, estimated at 18.6 percent, while Counterpoint Research projects it at 18.8 percent, and IDC places it around 13 percent.

Having completed a decade of operations in India, Xiaomi has navigated multiple regulatory and operational challenges, particularly concerning tax compliance and vendor payments. Despite these hurdles, Xiaomi continues to strategize and adapt to maintain its prominent market presence and address evolving consumer demands in one of the world's largest smartphone markets.

 

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Retail India News: Titan Celestor Elevates Fitness Wearables
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Retail India News: Titan Celestor Elevates Fitness Wearables
 

Titan Smart Wearables is set to transform the retail landscape in India with the launch of its new Titan Celestor smartwatch. Aimed at fitness enthusiasts, the Celestor combines advanced technology with Titan's legacy of excellence, offering precision and style for those seeking to enhance their fitness journey.

The Titan Celestor stands out in the market with its built-in GPS, tailored for activities like running, walking, hiking, and cycling. Its precise navigation is complemented by the integrated Altimeter, Barometer, and Compass (ABC) trio, providing essential data on elevation gain, ascent, descent, and average power. The unique swim mode with a water eject feature makes it ideal for swimming enthusiasts.

The smartwatch features a sleek aluminium body and a 3.6cm (1.43”) Super AMOLED display, complete with adaptable AOD watch faces and a brightness of 750 nits. Its dual-tone sweat-resistant strap ensures comfort and durability. Available in Black Eclipse, Aurora Blue, and Moonlight Edition, the Celestor seamlessly blends style and functionality. The My Fitness feature tracks calories burned, step count, distance covered, activity intensity, and the number of floors climbed, helping users stay on top of their fitness goals. The opto-mechanical crown allows for easy navigation of the dynamic UI, while additional features like SingleSync BT Calling, long-lasting battery life, customizable Watchface Studio, and an SOS feature enhance user experience.

The Titan Celestor introduces the Today’s Highlights feature, an AI-driven dashboard that consolidates daily health data, activity reports, and frequently used apps into one accessible location, providing a holistic view of the day.

Ravi Kuppuraj, Chief Operating Officer, Wearables Division, Titan Company Limited said, “With the Titan Celestor, we're committed to providing our customers with intelligent wearable technology that empowers them to lead healthier and more fulfilling lives. Titan Celestor's superior technology and innovative features are designed to transform how users approach fitness and exploration. We understand the growing need for fitness enthusiasts in India to have access to accurate and superior technology that can empower them to achieve their goals. Celestor equips trekkers and travelers with the tools they need to conquer any terrain, with a strong emphasis on health and wellness. We are confident that the Celestor will be a game-changer for Indian fitness enthusiasts, offering unparalleled accuracy and innovative features.

Priced at Rs 9,995, the Titan Celestor is available with an additional Rs 1000 off during its launch at Titan World Stores, top multi-brand retail outlets, and exclusively online on Amazon.

 

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Asian Paints Doubles Mysuru Plant Production Capacity with Rs 1,305 Cr Investment
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Asian Paints Doubles Mysuru Plant Production Capacity with Rs 1,305 Cr Investment
 

Asian Paints has invested Rs 1,305 crore to double the production capacity at its Mysuru plant to 600,000 KL per annum. With this expansion, the company's total annual production capacity now stands at 21,50,000 KL per annum, making it the largest paint producer in the country.

Established in 2018, the Mysuru plant originally had a production capacity of 300,000 KL per annum and is currently operating at around 78 percent capacity utilization, according to an exchange filing by the company on Monday.

“The intimation is being submitted today being the first working day after receipt of the necessary approval from the Karnataka State Pollution Control Board, Bengaluru, for the said increase,” the filing stated.

Asian Paints highlighted that this expansion will help meet the company's medium-term requirements. In addition to the Mysuru plant, the company is also increasing production capacity at its Ankleshwar plant, with completion expected this year. Further capacity expansions are underway at Kasna and Khandala, with the total production capacity expected to reach 2,270,000 KL per annum upon completion.

Additionally, Asian Paints is setting up a new water-based manufacturing facility in Madhya Pradesh, which will have a capacity of 400,000 KL per annum. This facility is projected to be completed by 2028.

According to a recent report by CRISIL Ratings, the production capacity of the organized paints sector in India is expected to nearly double to 7.8 billion liters per annum between 2023 and 2027 (Apr-Mar).

 

This expansion will involve an investment of approximately Rs 19,000 crore, with a substantial contribution from a major new entrant, according to CRISIL. About 2.4 billion liters of new capacity is anticipated to become operational this year alone.

In February, the Aditya Birla Group entered the paints market with its new brand, 'Birla Opus.' The company has established six manufacturing units with a total capacity of 1,332 million liters. Aditya Birla Group aims to become profitable and secure the position of the second-largest player in the Indian paint industry within three years.

 

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D-Mart Q1 Profit Up 17.5 Pc to Rs 774 Cr; Sales Soar 18.5 Pc to Rs 14,069.14 Cr
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D-Mart Q1 Profit Up 17.5 Pc to Rs 774 Cr; Sales Soar 18.5 Pc to Rs 14,069.14 Cr
 

Avenue Supermarts Ltd, which owns and operates the retail chain D-Mart, reported a significant 17.45 percent increase in consolidated net profit, reaching Rs 773.68 crore for the June quarter. This growth was largely driven by improvements in sales from general merchandise and apparel segments.

In comparison, the company posted a net profit of Rs 658.71 crore during the April-June period last year, according to a regulatory filing from Avenue Supermarts. This year’s robust performance highlights the company’s ability to capitalize on market opportunities and drive profitability.

Revenue from operations for the quarter under review saw an impressive increase of 18.57 percent, amounting to Rs 14,069.14 crore, up from Rs 11,865.44 crore in the corresponding quarter of the previous fiscal year. This substantial revenue growth underscores the company's successful strategies in expanding its market presence and product offerings.

Additionally, Avenue Supermarts’ total expenses in the June quarter rose by 18.62 percent, reaching Rs 13,056.61 crore. Despite the increase in expenses, the company managed to maintain a strong profit margin, showcasing effective cost-management practices.

The total income for the company also saw an 18.54 percent increase, reaching Rs 14,110.74 crore in the June quarter. This consistent growth in income further reinforces the company’s strong financial performance during this period.

Neville Noronha, CEO & Managing Director, Avenue Supermarts stated,Contribution from general merchandise and apparel continued to improve during the quarter and this is reflected in the gross margin uptick. Operating costs have gone up due to continuing effort on improving service levels and building capability for the future.”

During the quarter, D-Mart expanded its retail footprint by opening six new stores, bringing the total store count to 371 as of June 30, 2024. This expansion is a testament to the company’s ongoing efforts to increase its market reach and cater to a larger customer base.

Promoted by Radhakishan Damani and his family, D-Mart retails basic home and personal products across various markets in India, including Maharashtra, Gujarat, Telangana, Andhra Pradesh, Karnataka, Tamil Nadu, Madhya Pradesh, Rajasthan, Punjab, and NCR. This widespread presence ensures that the company remains a key player in the Indian retail sector, delivering essential goods to a broad customer base.

 

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Retail India News: GCPL Expands Product Portfolio with Advanced Repellent
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Retail India News: GCPL Expands Product Portfolio with Advanced Repellent
 

In response to the increasing demand for more effective mosquito repellents in India, GCPL has developed a new molecule formulation over 15 years since the last innovation in the sector. The growing use of highly potent repellent formats, such as incense sticks with unregistered and illegal Chinese molecules, has prompted this development. The influx of these unregistered repellent molecules into India has raised significant concerns.

GCPL, in partnership with an extensive research and development team, has spent over a decade creating ‘Renofluthrin.’ This new molecule, patented by GCPL's partner, offers exclusive usage rights in India until the medium term.

Sudhir Sitapati, MD and CEO of Godrej Consumer Products Ltd (GCPL) said, “With a 127-year legacy of innovation, Godrej has introduced many homegrown innovations in India. We observed widespread use of mosquito repellents like incense sticks, containing unregistered and illegal Chinese molecules entering India from various channels. Renofluthrin is India’s first indigenously developed mosquito repellent molecule which will deter people from using products with illegal molecules. This innovation makes India self-reliant as now we don’t have to import molecules from international markets. Renofluthrin is effective against the most founded mosquito species such as Anopheles, Aedes, and Culex, among others.

Dr. Samir Dalwai, a prominent developmental pediatrician and senior member of the Indian Academy of Pediatrics (IAP), emphasized the importance of effective mosquito protection. He said, “Mosquito-borne diseases like malaria and dengue not only cause severe health issues but also pose significant economic burdens. Therefore, it's imperative to have highly effective protection against mosquitoes. When prescribing solutions to combat these diseases, I prioritize efficacy, safety, and long-term reliability. The introduction of new molecule like Renofluthrin, will only help to curb mosquito-borne diseases. Renofluthrin offers broad-spectrum efficacy, targeting common mosquito species responsible for malaria and dengue. Its instant knock-down effect and residual protection make it a formidable tool in reducing mosquito populations and, consequently, the transmission of these diseases.

Research by Goodknight indicates that 63 percent of Indians prefer liquid vaporizers as their primary method of protecting their families from mosquitoes. Responding to this preference, GCPL is launching the Goodknight Flash liquid vaporizer with the new Renofluthrin molecule. This product promises to repel mosquitoes twice as fast and continues to work for two hours after being switched off.

Sudhir Sitapati further added, “GCPL enjoys exclusivity to use this patented Renofluthrin molecule in the medium term. This makes Goodknight Flash liquid vaporizer formulation 2X more effective than any other formulation available in market. While Renofluthrin will be in India for now, we foresee great potential for this molecule in international markets where we operate.

The Goodknight Flash is economically priced at around Rs 100 for the complete pack (refill and vaporizer machine), with refills available at Rs 85 each, making it accessible to consumers in urban, small-town, and rural areas across India.

 

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Retail India News: Zepto Elevates Devendra Meel to Chief Business Officer
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Retail India News: Zepto Elevates Devendra Meel to Chief Business Officer
 

Zepto has announced the promotion of Devendra Meel to Chief Business Officer, effective July 2024. In this pivotal role, Meel will lead category management and foster brand partnerships, ensuring optimal assortment, pricing, availability, and growth of all core categories on the platform.

Aadit Palicha, Co-founder and Chief Executive Officer, Zepto shared, “Devendra has had an incredible run at Zepto. After joining us a year ago, he played a key role in scaling our advertising business to hundreds of crores in revenue and, more importantly, built out Zepto Pass end-to-end. Devendra has executed like an entrepreneur and treated Pass like his baby, working tirelessly 6-7 days a week with the Pass team to make the economics sustainable, and brought the whole company together to get Pass launched in record time.”

Devendra Meel also shared, “Having a front-row seat in a company poised to redefine Internet India is the opportunity of a lifetime. I am deeply committed to this mission and will bring all my energy and dedication to it. Zepto’s meritocratic, fast-moving environment offers high-stakes challenges and the potential for 10X career growth. For those excited by such prospects, our business team is actively hiring across various roles.”

Devendra Meel’s journey at Zepto has been marked by several transformative initiatives and a strategic vision that aligns perfectly with the company’s ambitious growth plans. His elevation to Chief Business Officer underscores Zepto’s commitment to fostering internal talent and driving continuous innovation.

Before joining Zepto, Devendra Meel, an IIM-Bangalore graduate, led special initiatives at Zomato and Jio. His extensive experience in the industry has been instrumental in his success at Zepto, where he has consistently demonstrated his ability to execute like an entrepreneur and drive significant business growth.

With this promotion, Zepto aims to leverage Meel’s expertise to further its mission of redefining the internet landscape in India and continue its trajectory of rapid growth and innovation.

 

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Retail Space Leasing Sees 15 pc Annual Rise in Major Indian Cities
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Retail Space Leasing Sees 15 pc Annual Rise in Major Indian Cities
 

Leasing of retail spaces in shopping malls across eight major Indian cities increased by 15 percent annually in the April-June period, reaching 6.12 lakh square feet. This growth is attributed to better demand from retailers, as per data from Cushman and Wakefield.

Cushman and Wakefield India reported that the demand for retail space on major high streets in these cities rose by 4 percent annually, totaling nearly 14 lakh square feet during the second quarter of 2024. Leasing activities in shopping malls climbed to 6,12,396 square feet from 5,33,078 square feet during the same period last year. High street locations saw a 4 percent increase in leasing, growing to 13,89,768 square feet from 13,31,705 square feet.

The leasing data covers all types of shopping malls, including Grade A and Grade B, and prominent main streets in Delhi-NCR, Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad, Pune, and Ahmedabad.

Saurabh Shatdal, Head of Retail and Managing Director of Capital Markets at Cushman and Wakefield said, "The second quarter of 2024 was marked by strong demand for both Grade A malls and high street retail. The growth in both formats underscores the vibrancy of India's retail landscape."

While high street rental growth has been notable, the upcoming Grade A mall supply of 4.5 million square feet might stabilize rental costs in the short to medium term as demand-supply dynamics shift, Shatdal added.

"However, we anticipate main street activity to remain healthy. Additionally, the dominance of domestic brands, accounting for 53 percent of leasing volume, along with the strong performance of fashion and F&B (food and beverages), highlight the evolving retail preferences in India," Shatdal said.

The report highlighted the continued dominance of Main Street retail leasing, driven by limited new mall openings and strong demand for high-quality retail spaces. Retailers are increasingly focusing on main streets in prominent locations across India, with emerging clusters forming around residential and commercial hubs.

"This trend is reflected in leasing activity with high street leases accounting for 70 percent of total leases in Q2 2024, compared to 30 percent for mall leases," Cushman and Wakefield stated.

The rental growth across prominent main streets in the second quarter of 2024 further underscores their growing appeal. Kolkata, Bengaluru, Hyderabad, and Mumbai have all experienced significant year-on-year rental increases, demonstrating strong demand and potential for high-street retail in India.

 

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Retail India News: Jaguar Land Rover India Reports 31 Pc Sales Increase in Q1 FY2024
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Retail India News: Jaguar Land Rover India Reports 31 Pc Sales Increase in Q1 FY2024
 

Jaguar Land Rover India has reported a significant rise in its retail sales, showing a 31 percent increase year-on-year for the first quarter ending June 30, 2024. The automaker, part of Tata Motors, sold 1,371 units during this period, up from 1,048 units in the same quarter of the previous fiscal year.

Notably, sales of the Defender and Range Rover Evoque grew by more than 50 percent, with the Defender emerging as the highest-selling model in the portfolio. According to the company, the Range Rover, Range Rover Sport, and Defender account for 75 percent of the total order book.

"Our performance is tracking favourably as per our expectations. Alongside our robust sales, our order bank also grew by 10 percent compared to the beginning of the fiscal year showing continuous growth in demand while we continue to enhance our supplies into the market," said Rajan Amba, Managing Director of JLR India. He added that the Defender remains the most sought-after model, and with the positive response to the locally manufactured Range Rover and Range Rover Sport, the company is optimistic about maintaining this momentum and achieving another successful year.

"The Indian market is responding well to our exciting product lineup," Amba noted, highlighting the growing demand for JLR's offerings in the country.

 

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Retail India News: TATA Starbucks Appoints Mitali Maheshwari as Product and Marketing Head
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Retail India News: TATA Starbucks Appoints Mitali Maheshwari as Product and Marketing Head
 

In a strategic move to bolster its retail presence in India, TATA Starbucks has appointed Mitali Maheshwari as the new Product and Marketing Head. With over a decade of expertise in brand management and marketing, Maheshwari will lead product innovation and drive marketing initiatives for the brand.

Adrit Mishra, Chief Operating Officer of TATA Starbucks said, "As we continue building the category in India and extending our coffee leadership to deliver the signature Starbucks Experience to consumers, we are excited for Mitali to expound upon our product and marketing plans. With Mitali on board, we are also looking forward to enabling strategic product innovation that brings forth the best of global and local tastes for consumers in a manner that is familiar to them. Mitali's dedication to her craft, coupled with her strategic mindset and innovative approach, makes her an invaluable addition to our team.

Mitali Maheshwari stated, "As a coffee enthusiast myself, I am looking forward to joining Starbucks India, a brand that has played a pivotal role in shaping the country’s vibrant coffee landscape over the past decade. I am humbled and excited to build on the brand’s marketing plans to drive continued growth, while delivering the distinct Starbucks experience to consumers across the country.

Mitali Maheshwari brings a wealth of knowledge and a proven track record in elevating brand presence and consumer engagement. She previously served as the National Brand Marketing Manager at Red Bull India. Her strategic insights and innovative approach are expected to ensure exceptional experiences for coffee enthusiasts across the country.

This appointment aligns with TATA Starbucks' commitment to enhancing its retail footprint in India through strategic leadership and innovation.

 

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Retail India News: Fonebox Retail Plans Expansion with 25 New Stores in Maharashtra
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Retail India News: Fonebox Retail Plans Expansion with 25 New Stores in Maharashtra
 

Fonebox Retail Ltd., a prominent Gujarat-based retailer specializing in mobile devices and consumer durables, is venturing into Maharashtra with ambitious plans to open more than 25 retail outlets across the state.

Headquartered in Ahmedabad, the company currently operates 181 stores in Gujarat and is now poised to establish a significant presence in Maharashtra as part of its strategy to become a pan-India player in the retail sector.

We have charted our ambition to become a pan-India player in the coming years and Maharashtra is the next destination for our company. Given our multi-brand business model and exhaustive distribution capability, we are poised to expand our presence in Western India and therefore lay a robust foundation for future growth,” shared Manishbhai G Patel, director, Fonebox Retail.

Founded in 2021, Fonebox Retail operates under three distinct brand names: Fonebox, Fonebook, and My Mobile. Its retail outlets are structured under both company-owned and company-operated (COCO model) and franchise-owned and company-operated (FOCO model) formats, allowing for a broad reach and efficient operational management.

The stores offer a comprehensive range of products including smartphones, accessories, laptops, televisions, and other consumer durables sourced from a wide array of renowned brands, catering to diverse consumer preferences and demands.

Earlier this year, Fonebox Retail made its debut on the NSE Emerge platform in February 2024, successfully raising Rs 20.37 crore. A significant portion of these funds, approximately Rs 13.50 crore, has been earmarked for expanding its retail network and bolstering infrastructure to support the new stores in Maharashtra.

The company's strategic move into Maharashtra underscores its commitment to strategic growth and market expansion, positioning itself as a formidable player in the competitive retail landscape of India.

 

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PepsiCo Sees Strong Profit Surge in June Quarter with Net Income Up 12 Pc to $3 Billion
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PepsiCo Sees Strong Profit Surge in June Quarter with Net Income Up 12 Pc to $3 Billion
 

PepsiCo, headquartered in Purchase, New York, has announced its second-quarter earnings, which exceeded expectations despite facing ongoing declines in consumer demand for its snacks and beverages.

The multinational company reported a significant 12 percent increase in net income, reaching $3 billion for the April-June period. This equates to an adjusted earnings per share of $2.28, surpassing Wall Street's expectations of $2.16 per share. However, PepsiCo's revenue experienced minimal growth, rising less than 1 percent to $22.5 billion, slightly below analysts' forecasts of $22.59 billion.

Over the past two years, PepsiCo has responded to rising costs of ingredients and packaging by implementing substantial price increases. These adjustments have been a consistent strategy, with double-digit percentage increases observed for eight consecutive quarters leading up to the end of 2023. The trend continued with a 5 percent rise in the first quarter of the current fiscal year and a further 3 percent increase in the most recent quarter.

Despite these efforts, higher prices have had a noticeable impact on consumer demand. PepsiCo's global sales volumes have declined continuously over the past eight quarters. The company attributes part of this decline to strategic decisions such as reducing package sizes. Additionally, there has been a noticeable shift among lower-income U.S. consumers, who are either purchasing fewer snacks or opting for store brands.

In response to the financial results, a PepsiCo spokesperson emphasized the company's commitment to navigating these market challenges while maintaining financial resilience. They highlighted ongoing strategic initiatives aimed at driving growth and addressing evolving consumer preferences.

PepsiCo's ability to sustain profitability amidst market volatility underscores its proactive approach in managing cost pressures while strategically positioning itself for future growth opportunities.

 

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Retail India News: Crocs and Apparel Group Form Strategic Partnership in India
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Retail India News: Crocs and Apparel Group Form Strategic Partnership in India
 

Retail conglomerate Apparel Group has announced a collaboration with the renowned footwear brand Crocs, making Apparel Group the Exclusive Retail Licensee for Crocs' footwear in the northern and eastern regions of India.

At Apparel Group, our dedication remains steadfast in delivering excellent retail experiences. Our partnership with Crocs is poised for growth and enhancing their presence through our existing retail network. We are confident that through this partnership with this leading global brand, we will meet consumers’ growing aspirations for lifestyle brands in the region,” said Abhishek Bajpai, CEO of Apparel Group India.

Apparel Group, a global fashion and lifestyle retailer, is home to brands such as Tommy Hilfiger, Charles and Keith, Skechers, Victoria’s Secret, ALDO, Nine West, Calvin Klein, Aéropostale, Jamie’s Italian, Tim Hortons, Cold Stone Creamery, Bath and Body Works, Inglot, and Rituals. The group operates more than 2,200 retail stores, featuring over 85 brands, and employs over 22,000 multicultural staff.

Our partnership with Apparel Group is a strategic move for us as we continue to expand our business in India. By adapting their proven strategies to meet the unique needs and preferences of the Indian market, we are confident that this move will further enhance our offerings and open even more prospects for growth and success,” said Sumit Dhingra, Vice President and General Manager - India, Middle East, and Africa, Crocs.

Crocs, a casual footwear brand present in more than 85 countries through wholesale and direct-to-consumer channels, also includes the HEYDUDE brand. Recently, Crocs extended its retail partnership agreement with Metro Brands Ltd., granting Metro Brands exclusive rights to operate and own Crocs "full price" stores across western and southern India, while continuing to manage existing stores in northern and eastern India.

 

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Retail India News: Dabur NewU Expands with 4 New Stores, Aims to Double Store Count
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Retail India News: Dabur NewU Expands with 4 New Stores, Aims to Double Store Count
 

NewU, a prominent beauty and personal care brand, has unveiled the opening of four new stores across India, highlighting a significant step forward in its ambitious growth strategy. This expansion reflects NewU's dedication to making high-quality beauty products more accessible across diverse market segments, with a particular focus on tier II and tier III cities.

Manish Asthana, COO, NewU said,The overwhelming response to NewU in the country has encouraged us to broaden our brand to tier II and tier III towns as part of our expansion strategy. We aim to make beauty accessible to all with the evolving beauty needs in these towns."

NewU primarily targets millennials and Gen-Z consumers, currently operating 115 outlets in more than 50 cities. By offering a broad range of beauty and personal care items, NewU meets the diverse needs of its customer base. The brand’s ongoing expansion efforts are designed to deepen market penetration and leverage emerging opportunities within the beauty retail sector.

Operating under H&B Stores, a wholly-owned subsidiary of Dabur India, NewU benefits from the extensive infrastructure and industry experience of its parent company. This support enables NewU to effectively drive expansion and enhance customer engagement. With a strategic plan to double its store count over the next two years, NewU aims to solidify its standing as a leading player in India's competitive beauty and personal care market.

This expansion is not just about increasing the number of stores but also about ensuring that NewU remains at the forefront of innovation in beauty retail. The brand continues to focus on offering a wide variety of products that cater to the ever-changing preferences of its target audience, providing both convenience and quality to its customers.

By strategically increasing its footprint, NewU is set to capture a larger share of the market, bringing its products closer to consumers in smaller towns and cities, and reinforcing its commitment to inclusivity and accessibility in beauty and personal care.

 

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FMCG Sector in India Sees Strong Growth in 2023-24
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FMCG Sector in India Sees Strong Growth in 2023-24
 

The fast-moving consumer goods (FMCG) sector in India has experienced a notable 10.2 percent increase in value sales over the 2023-24 fiscal year, according to Kantar. Even excluding staple products like atta flour, spending growth remains robust at 9.4 percent. This growth is significant for the retail sector in India, highlighting a resurgence in rural FMCG purchases despite financial constraints faced by urban households.

Across India as a whole, FMCG shopping frequency has risen, with households now making 156 trips per year either in-store or online,” the report noted. “Frequency has been growing for some time now, although this has levelled off during the last two quarters,” it added.

A notable trend in the retail sector is the shift towards purchasing larger packs rather than increasing the number of packs. This is especially evident in discretionary categories such as bottled soft drinks, which have crossed the 50 percent penetration mark for the first time, driven by anticipated summer demand. Fabric softeners also show growing popularity, now purchased by one in four households across the country.

Driving penetration is the major factor behind securing a brand’s future growth. Not only does this strategy bring in more buyers, but it also boosts consumption. In India, local brands are excelling in this area – including Tata Gemini, Sunlight Washing Powder, Goodricke tea, and Parle G biscuits,” the report stated.

Groceries account for more than 24 percent of quarterly household spending in India, despite inflation easing. In Q1 2024, average shoppers spent 18 percent more compared to peak prices in Q2 2022. Urban households spend 1.6 times more than their rural counterparts on groceries. Despite price hikes, essential items like cooking oils are prioritized, with 27 percent of households increasing spending rather than cutting back.

Overall, India’s FMCG market appears promising against the backdrop of an 8.2 percent GDP growth in the 2023-24 fiscal year. Although challenges persist, including varying consumer sentiments across regions, optimism is rising with 16 percent of households now feeling financially secure compared to 8 percent during peak inflation.
 

 

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Retail Investors Drive IPO Surge in India
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Retail Investors Drive IPO Surge in India
 

Retail investors are expected to continue flocking to initial public offerings (IPOs) in India this year, as new stocks significantly outperform both the broader market and international listings. According to Bloomberg data, shares that started trading in India in 2024 have delivered an average gain of about 57 percent since their debut, compared to 32 percent for the Asia Pacific region and more than double the global average.

At least 15 more companies are preparing offerings in the coming months, potentially raising a combined $11 billion. The participation of retail investors has been crucial for the success of these sales, making India one of the hottest markets globally for IPOs in 2024. Surging valuations and strong economic prospects are attracting issuers to the market.

Vineet Arora, Manager of the Singapore-based NAV Capital Emerging Star Fund said, “At the moment it seems like a juggernaut that’s not going to stop anytime soon. I talk to a lot of younger generation investors. Most of them don’t want to buy a house or real estate, an asset that one would typically invest in soon after starting work. Now that money is finding its way into stock markets.

Retail investors bid for about $10.6 billion worth of shares sold in 36 IPOs on Indian bourses this year, according to Prime Database Group. This amount was more than 12 times higher than the portion available to them, with all new share sales having their individual quotas fully filled.

Despite increased regulatory surveillance in the first quarter of 2024, individual buying has remained strong. Authorities aimed to curb "malpractices" by imposing measures to reduce retail involvement, including restrictions on lending for share purchases. However, retail demand has persisted. Seven recent IPOs attracted individual demand that surpassed the available amount by more than 50 times. Electric vehicle charging firm Exicom Tele-Systems, for example, saw retail investors bid for 120 times more shares than available, with the stock rallying almost 230 percent from its IPO price.

While retail involvement is expected to continue, many investors do not plan to hold onto specific stocks for long. According to Pranav Haldea, managing director at Prime Database Group, “Most retail investors basically come in to flip and are not studying the companies or sector and financials. With the kind of listing gains we are seeing now, if one is able to get allotment, there is quick money to be made.

 

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Retail India News: Anmol Industries aims for a Rs 5,000 Cr turnover in the next five years
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Retail India News: Anmol Industries aims for a Rs 5,000 Cr turnover in the next five years
 

Packaged food company Anmol Industries Limited announced its ambitious goal to achieve a turnover of Rs 5,000 crore within the next five years. This target marks a significant increase from the company's current turnover of Rs 1,600 crore, with an interim goal of reaching Rs 2,000 crore by the next financial year. Anmol Industries outlined its strategic vision for the next five years.

Our current focus revolves around innovation, leveraging new technologies, and consistently introducing products that resonate with our customers’ evolving preferences. These elements are pivotal as we aim to achieve our ambitious target of Rs 5,000 crore within the next five years,” the company said in a statement. 

Integral to this endeavor is the ongoing enhancement of our manufacturing capabilities. The next five years mark an evolving customer trend in which the erstwhile rural customer has become very close to the urban customer. In terms of our product portfolio, we are moving towards categories that are slightly more indulgent,” said Aman Choudhary, Executive Director, Marketing at Anmol Industries Limited.

To support its growth trajectory, Anmol Industries has recently invested Rs 200 crore in commissioning a new manufacturing facility in Thakurganj, Bihar. This new plant will significantly boost the company’s production capacity, adding 8,000 metric tonnes per month, thereby ensuring that the company can meet the increased demand anticipated over the coming years.

Anmol Industries offers a diverse range of products, including biscuits, cookies, rusks, chocolate wafers, and cakes. The company has established a strong foothold in key markets such as Uttar Pradesh and Bihar, where it holds the second position in the biscuit segment. It also has a significant presence in Jharkhand, Bengal, and Odisha. Anmol Industries is focused on further strengthening its market position in these states, with the ultimate goal of becoming the number one player in the near future.

Beyond its domestic success, Anmol Industries has cultivated a robust global presence through its export activities. Over 30 unique varieties of Anmol biscuits are distributed to more than 30 countries worldwide, underscoring the company’s commitment to expanding its international footprint.

In line with its growth strategy, Anmol Industries has introduced ‘Crunchy’, a new choco wafer, to the market. 

As part of our growth strategy, we will continue to optimize our product offerings to meet shifting consumer preferences from generic to specialized and from essential to discretionary items. We also see significant potential in emerging channels like modern trade and e-commerce, which allow us to interact directly with our consumers,” Aman Chaudhary further stated.

 

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Retail India News: Looks Privè Opens 8th Outlet at Pacific Mall, Delhi
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Retail India News: Looks Privè Opens 8th Outlet at Pacific Mall, Delhi
 

Looks Privè has announced the launch of its eight outlet in the vibrant city of New Delhi, situated in the Pacific Mall, Tagore Garden. This latest addition signifies a significant milestone for the brand, reinforcing its role as a leader in the beauty and wellness sector. Known as the epitome of luxury salons in the area, Looks Privè offers premium services using top-quality products sourced from the West, seamlessly blending premium and luxury experiences.

Known for its excellence in hair styling and hair coloring, Looks Privè is celebrated for its innovative approach and commitment to elegance, catering to clients seeking top-tier services. The salon provides bespoke solutions, from classic haircuts to cutting-edge color techniques, tailored to enhance personal style and confidence. Each service is complemented by personalized consultations to ensure customer satisfaction.

"I am delighted to announce the opening of our 8th Privè outlet in the bustling Pacific Mall, Tagore Garden, Subhash Nagar. This expansion is a significant milestone for our brand, reinforcing our reputation as pioneers in luxury beauty and wellness experiences. Looks Privè exemplifies indulgence, offering world-class services and top-tier products, effortlessly bridging the gap between premium and luxury offerings," stated Samay Dutta, Managing Director, Looks Privè.

Located in the bustling Pacific Mall, the new outlet promises an exceptional experience where luxury and sophistication converge. Guests can indulge in a curated selection of services, including haircuts, hair coloring, and luxurious skin and nail treatments. Each service is enhanced by personalized consultations in an ambiance designed to promote relaxation and rejuvenation. To celebrate the grand opening, Looks Privè is offering exclusive promotions, inviting guests to experience unparalleled service firsthand.

Looks, a prominent figure in India's beauty and wellness sector, has been delivering top-notch beauty services for more than three decades. Known for its unwavering dedication to quality and customer contentment, Looks Prive provides an extensive array of services—from haircare and skincare to makeup and grooming—within opulent and soothing settings. With numerous branches nationwide, Looks has established itself as a beacon of excellence in the beauty and wellness industry.

 

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Retail India News: FMCG Player Bikano Introduces 'Bombay Mixture'
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Retail India News: FMCG Player Bikano Introduces 'Bombay Mixture'
 

Bikano, a key player in India's traditional snacks sector, has unveiled its latest offering, the Bombay Mixture. This new flavor aims to satisfy the varied and evolving taste preferences of snack enthusiasts nationwide and beyond. With the traditional snacks market witnessing rapid growth, mixtures have emerged as the fastest-growing category, contributing approximately 40 percent to the overall segment. 

"The launch of Bombay Mixture is a strategic move to tap into the booming traditional snacks market. Consumers are increasingly seeking region-specific products, and the Bombay Mixture meets this demand perfectly. We are targeting to reach 10 lakh consumers with our initial launch plan and expect the Bombay Mixture to contribute 1 percent to our overall revenue. Our aim is to increase our market share in the Indian snacks market from 5 percent to 6 percent this year," said Manish Aggarwal, Director, Bikano.

Available in various pack sizes and price points, Bombay Mixture ensures accessibility for a wide audience, from Rs 10 small packs to larger 200g, 400g, and 800g options. Crafted from high-quality ingredients, it offers a spicy and crunchy taste appealing to individuals aged 18 to 60 years.

Kush Aggarwal, Head of Marketing at Bikano shared, “Our new Bombay Mixture not only aligns with current consumer preferences but also showcases our commitment to quality and innovation. We believe it will resonate strongly with our target demographic, offering a unique blend of flavors that evoke nostalgia while appealing to contemporary tastes. To ensure the widest possible reach, we have planned a comprehensive 360-degree marketing campaign, encompassing ATL, BTL, and digital promotions. This strategic approach will not only enhance brand visibility but also drive engagement across diverse consumer segments, reinforcing Bikano's position as a leader in the traditional snacks market."

Valued at 48 thousand crores, the Indian snacks market is evolving rapidly with Bikano's Bombay Mixture reflecting this evolution. Set for a pan-India launch and international distribution, the focus remains on North India, where demand for traditional "desi" snacks is robust.

Earlier in March, Bikano introduced "Madras Mixture" and "Kerala Mixture" catering to the southern market's demands, showcasing Bikano's commitment to innovation and consumer-centric products that set new standards in taste and quality.

 

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Retail India News: Versuni Names Erik Van den Enden as Chief Financial Officer
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Retail India News: Versuni Names Erik Van den Enden as Chief Financial Officer
 

Versuni, a leading home appliance company formerly known as Philips Domestic Appliances, has announced the appointment of Erik Van den Enden as Chief Financial Officer, effective September 1, 2024. Van den Enden will report directly to Véronique Pauwels, President & CEO of Versuni, succeeding Kurt Decat who is stepping down to prioritize family time and pursue non-executive roles and personal interests.

Bringing over 20 years of experience in consumer-facing and data-rich industries across Europe and emerging markets, including telecommunications and FMCG, Van den Enden joins Versuni from Telenet Group Holding, where he served as Group CFO and Head of Strategy and M&A. His previous roles at AB InBev included leading the global integration and transformation of the SAB Miller Finance function.

In his new role, Van den Enden will focus on guiding Versuni's financial and business strategy to support long-term sustainable growth and value creation objectives.

Erik’s appointment comes at a time when we are laser-focused on our mission to grow the Versuni business. Erik was appointed for his wealth of experience in transformation and managing consumer-centric growth, and I am confident that he will be a valuable member to the Versuni team. I’d also like to thank Kurt for his hard work and wish him the very best for the future,” said Véronique Pauwels, President & CEO, Versuni.

Versuni’s mission is to enhance the comfort of homes worldwide. As a conglomerate of leading home appliance brands, Versuni markets a diverse range including Philips, Philips Baristina, Philips Walita, Preethi, Senseo, L’OR Barista, Saeco, and Gaggia. Boasting over 900 patents, Versuni’s product lineup encompasses coffee and kitchen appliances, garment care, climate control, floor care, and home safety solutions. Notable products under the Philips brand include the Airfryer, Espresso Machine with LatteGo, PerfectCare Steam Generator, and Air and AquaTrio Cordless Vacuum. Headquartered in Amsterdam, the Netherlands, Versuni operates innovation, manufacturing, and commercial hubs worldwide, serving customers in more than 100 countries.

 

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Retail India News: Shopsy Celebrates Three Years with 330 Mn App Downloads
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Retail India News: Shopsy Celebrates Three Years with 330 Mn App Downloads
 

Shopsy, India’s rapidly growing hyper-value platform, commemorates its third anniversary with an impressive milestone of surpassing 330 million app downloads nationwide. Over the past three years, Shopsy has revolutionized the hyper-value online shopping experience by offering affordable products across 1,300 categories and expanding its footprint to over 19,000 pin codes. The platform has also fostered a vibrant seller community of 1.4 million, including partnerships with established names like Flipkart.

Prathyusha Agarwal, Business Head at Shopsy said, “We celebrate this milestone with our customers, sellers, and partners, whose support has established us as the favorite hyper-value e-commerce platform. Our journey is defined by a commitment to exceptional value, innovation, and a customer-centric approach tailored to best suit the needs of Bharat. With the Indian e-commerce industry set to reach US$300 billion by 2030, we remain dedicated to enhancing our offerings, technological capabilities, and delivering an unparalleled shopping experience to the value-conscious customers of Bharat.”

In just three years, Shopsy has significantly extended its presence across India, aiming to serve customers in every corner. The platform's consumer base now spans deep into Bharat, including new e-commerce shoppers from Bilgi, Phul, Faridkot, Nagarcoil, and beyond. Nearly 70 percent of Shopsy’s customers originate from Tier II and Tier III cities, with millennials and Gen Z constituting 90 percent of new users. 

As a leading hyper-value e-commerce platform, Shopsy has met the escalating demand for value-for-money products in India. Over 70 percent of shoppers opt for products priced under Rs. 200, highlighting Shopsy's appeal with its budget-friendly offerings and competitive product bundling options.

Shopsy boasts a diverse portfolio exceeding 16 million products across fashion, beauty, home, and electronics, catering to every Indian household. Emphasizing a customer-first approach, Shopsy continues to introduce new categories such as budget mobiles, kidswear, and accessories. The recent launch of 'Trend Station' caters specifically to India's trend-conscious Gen Z, featuring viral trends in fashion and beauty.

Shopsy’s success story extends to its growing seller base, originating from cities like Rajkot, Surat, Panipat, Ghaziabad, and others across India. The platform’s comprehensive training programs empower sellers, ensuring adherence to quality standards and performance metrics. Initiatives like Star Seller recognize and reward top-performing sellers, further incentivizing excellence and growth.

Sachin Chakravarty, director at  Shrashti Textiles said, “As a business, we did not have much focus online. Our women's apparel business was happening in offline markets. But since we started working on Shopsy Marketplace, we received a massive online response in just six months. The Shopsy team has supported us a lot in this journey. Because of online sales, we were able to expand our business with our turnover increasing each day.”

As Shopsy continues its growth trajectory, the platform remains dedicated to enhancing customer satisfaction, expanding its product range, and nurturing its seller community to solidify its position as a leader in India’s hyper-value e-commerce landscape.

 

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ONDC Reports 10 Mn Monthly Transactions in June
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ONDC Reports 10 Mn Monthly Transactions in June
 

According to the latest Equirus Securities India Equity Research BFSI sector report released on July 7, the Open Network for Digital Commerce (ONDC), backed by the government, achieved a significant milestone in June 2024 by processing 10 million monthly transactions. This milestone includes 6.1 million transactions in non-mobility sectors and 3.9 million in mobility sectors.

The report underscores ONDC's robust growth trajectory, noting a consistent increase of one million transactions per month over the past two months. This growth has been predominantly fueled by retail-driven demand, with non-mobility transactions surging to 6 million in June 2024, up from 3.6 million in March 2024. Meanwhile, mobility transactions saw a slight decline from 4.1 million to 3.9 million during the same period.

In addition to transactional growth, the report highlights ONDC's strategic adjustments in incentivization, specifically reducing order volume-linked financial incentives for network participants by up to 75 percent starting from the second quarter of FY2025.

Moreover, ONDC has been actively exploring new avenues beyond transactional services. It has initiated pilot projects for consumer loans and is gearing up to offer larger B2B loans ranging between Rs 10 million to 15 million. The network is also poised to expand its financial offerings, with plans to introduce passive funds such as index and liquid funds in the near future, as previously reported by ET. This move signifies ONDC's broader ambitions to venture into the insurance and investment sectors.

The overall expansion and diversification efforts by ONDC underscore its pivotal role in fostering digital commerce in India, aiming to enhance accessibility and efficiency across various financial services and sectors.

 

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Retail India News: Xiaomi Targets 700 Mn Shipments in India Over Next Decade
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Retail India News: Xiaomi Targets 700 Mn Shipments in India Over Next Decade
 

Chinese smartphone giant Xiaomi has set ambitious targets for its operations in India, aiming to double its device shipments to 700 million over the next decade. Marking the company's 10th anniversary in India, Xiaomi President Muralikrishnan B highlighted significant milestones, noting that Xiaomi has shipped 250 million smartphones and a total of 350 million devices across various categories in the past decade.

“I’m very happy to report that in the past 10 years of Xiaomi’s existence in India, we have shipped 25 crore smartphones, 250 million smartphones and 35 crore devices overall across categories. This is between 2014 to 2024. Now that we’re talking about the 10 years of tomorrow, we want to double our shipment to 700 million devices in India,” said Muralikrishnan, Company President, Xiaomi.

Discussing Xiaomi's plans for local manufacturing, Muralikrishnan indicated a potential expansion into producing artificial intelligence-based Internet of Things (AIoT) devices within India. He also mentioned ongoing discussions about local production of Xiaomi's tablet lineup.

We have smartphones, we have smart televisions, we have audio products that are made in India. We are also exploring opportunities to localise various other AI IoT products. We are also committed to broadening and deepening competence localisation in India. We have discussed this in the past simpler products or just battery charger cables are already sourced in India. In terms of component localisation, we will go broader and deeper. In our total bill of material (BOM), the local non-semiconductor accounts for 35 percent share, which is sourced locally. We expect that number to go up to 55 percent in the next two years,” Muralikrishnan further added.

Xiaomi has established partnerships with key manufacturers such as Dixon Technologies, Foxconn, Optiemus, and BYD to bolster its local manufacturing capabilities in India.

Achieving higher local value addition remains a critical objective for Xiaomi amid challenges posed by the availability of electronic components in India.

Regarding Xiaomi's market performance in India, analysts from various research firms have provided varying estimates for the company's smartphone market share in the March 2024 quarter. While Cybermedia Research places Xiaomi slightly behind Samsung at 18.6 percent, Counterpoint Research estimates Xiaomi's share at 18.8 percent, and IDC suggests around 13 percent.

Despite these variations, all three research firms agree on Xiaomi's position among the top four smartphone brands in India.

In the smart TV segment, Counterpoint Research data indicates that Samsung has recently overtaken Xiaomi as the market leader with a 16 percent share, followed closely by LG at 15 percent, and Xiaomi at 12 percent.

Reflecting on the challenges faced during the COVID-19 pandemic, Muralikrishnan acknowledged a period of market share decline for Xiaomi but emphasized a strong recovery in the latter half of 2023.

Muralikrishnan further explained, “We looked at 2023 as the year of reset, refresh and recharge. We recalibrated our strategy and got back the growth momentum in the second half of 2023 when we got back on to the growth track. We have grown substantially faster than the market.” 

 

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Titan Records 9 Pc Revenue Growth in Q1, Expands with 61 New Stores
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Titan Records 9 Pc Revenue Growth in Q1, Expands with 61 New Stores
 

Titan, a leading jewelry and watchmaker under the Tata Group, announced a robust standalone revenue growth of 9 percent for the first quarter ending June 30, 2024. During this period, the company expanded its retail footprint by adding 61 new stores, bringing its total retail network to 3,096 stores.

The jewelry division, a cornerstone of Titan's operations contributing over three-fourths of its revenue, saw a 9 percent growth in the domestic market and added 34 new stores. Reflecting on the performance, Titan noted, "The auspicious week of Akshaya Tritiya witnessed double-digit growths (in Tanishq secondary sales) compared to the same period last year. However, high gold prices and their continued firmness had an impact on consumer demand."

The quarter, which saw fewer wedding days, experienced "relatively muted" sentiments compared to the previous fiscal year's first quarter. Titan observed that domestic growth primarily stemmed from an increase in average selling prices, while buyer growth remained in the low single digits. Plain gold sales grew in the high single digits, whereas studded jewelry growth moderated slightly.

In the Watches & Wearables (W&W) Division, Titan's domestic business recorded a strong 14 percent year-on-year growth. The analog watch segment notably achieved a healthy revenue growth of 17 percent. However, the wearables category, encompassing smartwatches, experienced a decline of 6 percent year-on-year.

Customer preferences towards premium products were evident, with significant growth seen in Titan, Helios channel, Nebula, Edge, and Xylys.

The EyeCare Division, which recently ventured into affordable fashion eyewear, reported a 3 percent growth in domestic revenue and added 3 new stores across India during the quarter.

Taneira, Titan's Indian dresswear business, grew by 4 percent and opened 4 new stores in the quarter. Similarly, revenue from Fragrances & Fashion Accessories increased by 4 percent. Within this segment, Fragrances grew by 13 percent year-on-year, while Fashion Accessories saw a decline of 15 percent year-on-year.

Reflecting on the diverse performance across its businesses, Titan, a joint venture between Tata Group and the Tamil Nadu government, remains optimistic about future growth prospects amidst evolving consumer preferences and market dynamics.

 

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Retail India News: Nykaa Projects Strong Revenue Growth Amid Fashion Market Challenges
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Retail India News: Nykaa Projects Strong Revenue Growth Amid Fashion Market Challenges
 

In a recent filing with BSE, FSN E-Commerce Ventures, the parent company of Nykaa, forecasted a consolidated revenue growth of around 22-23 percent year-on-year for the first quarter of 2024-25 (FY25). This forecast reflects continued momentum in the beauty retail sector in India, although the company noted a "muted" demand environment in the fashion industry.

The company projected GMV (Gross Merchandise Value) growth for the quarter to be in the mid-20s year-on-year for the consolidated entity. FSN E-Commerce Ventures also announced the initiation of vertical-wise segmental reporting starting this quarter.

"Nykaa - FSN E-Commerce Ventures Limited along with its subsidiaries, that is the consolidated entity expects its revenue growth to be around 22-23 percent YoY in Q1 FY2025," the company stated.

Revenue growth for the Beauty vertical is expected to be around 22-23 percent YoY, aligning with the consolidated entity's growth.

"GMV growth is expected to be higher, in the high twenties YoY, in line with long-term BPC (Beauty and Personal Care) industry growth-trajectory. This is despite relatively slower growth in our physical retail business which was impacted by elections as well as heatwaves across North India," the company reported.

However, FSN E-Commerce Ventures flagged a soft demand environment in the Indian fashion retail market.

"The overall fashion industry in India continues to face challenges with a muted demand environment. The growth was further impacted in this seasonally weak quarter due to limited weddings and festivities," the company noted.

Despite these challenges, the Fashion vertical is expected to deliver a solid performance, with revenue growth of around twenty percent YoY. GMV growth for the quarter in the fashion segment is anticipated to be lower, at mid-teens YoY.

The Beauty segment includes the online beauty platform Nykaa, beauty-owned brands, physical stores, the eB2B distribution business 'Superstore by Nykaa', and the Nykaa Man BPC business. The fashion segment comprises the Nykaa Fashion platform, fashion-owned brands, the content platform LBB (Little Black Book), and the Nykaa Man lifestyle business.

 

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Coffee Day Enterprises Defaults Reach Rs 433.91 Crore in Q1 FY25
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Coffee Day Enterprises Defaults Reach Rs 433.91 Crore in Q1 FY25
 

Coffee Day Enterprises Ltd has reported a cumulative default of Rs 433.91 crore in interest payments and repayment of principal amounts on loans from banks, financial institutions, and unlisted debt securities like NCDs and NCRPS for the quarter ending June 30, 2024.

In a regulatory update, Coffee Day Enterprises Ltd (CDEL) attributed the delay in debt servicing to a liquidity crisis. The company noted that the default amount remains unchanged from previous quarters due to its decision not to accrue interest since 2021.

"Due to defaults in interest and principal repayment, lenders have issued 'loan recall' notices and initiated legal disputes," CDEL stated. It further explained that pending one-time settlements with lenders and ongoing legal disputes have led to the non-recognition of interest since April 2021.

As of June 30, 2024, CDEL reported defaults totaling Rs 183.36 crore on principal payments for loans and revolving facilities such as cash credit from banks and financial institutions. Additionally, the company defaulted on interest payments amounting to Rs 5.78 crore for these facilities.

For unlisted debt securities such as NCDs and NCRPS, the outstanding default stood at Rs 200 crore as of June 30, 2024, with an additional default in interest payments totaling Rs 44.77 crore.

Following the passing of founder Chairman V G Siddhartha in July 2019, CDEL has faced financial challenges and has been managing its debts through asset resolutions. In March 2020, the company announced the repayment of Rs 1,644 crore to 13 lenders after selling its technology business park to Blackstone Group. CDEL is also pursuing legal actions to recover funds amounting to over Rs 3,535 crore allegedly diverted to Mysore Amalgamated Coffee Estates Limited (MACEL), a personal firm associated with its late founder V G Siddhartha.

 

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Retail India News: Raymond Limited Announces Vertical Demerger of Real Estate Business
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Retail India News: Raymond Limited Announces Vertical Demerger of Real Estate Business
 

Raymond Limited has announced the vertical demerger of its Real Estate Business into its wholly owned subsidiary, Raymond Realty Limited (RRL). Upon completion, Raymond Ltd and Raymond Realty Limited will operate as separate listed entities within the Raymond Group, pending all statutory approvals. According to the scheme of arrangement, each Raymond Ltd (RL) shareholder will receive one share of RRL for every share held in Raymond Limited.

This strategic move comes as Raymond's Real Estate Business has achieved significant scale, reporting revenue of Rs 1,593 crore, a 43 percent year-on-year growth, and EBITDA of Rs 370 crore in FY24. Raymond Realty holds approximately 100 acres of land in Thane, with 11.4 million square feet of RERA-approved carpet area, of which about 40 acres is currently under development. The company has five ongoing projects worth Rs 9,000 crore on its Thane land and an additional potential to generate more than Rs 16,000 crore, making a total potential revenue of over Rs 25,000 crore from this land bank. Recently, Raymond Realty launched its first joint development agreement (JDA) project in Bandra, Mumbai, and has signed three new JDAs in Mahim, Sion, and Bandra East Mumbai. These projects in the Mumbai Metropolitan Region have a combined revenue potential of over Rs 7,000 crore, bringing the total potential revenue to Rs 32,000 crore when including the Thane Land Bank developments and the current JDAs.

Gautam Hari Singhania, Chairman and Managing Director of Raymond Limited stated, “Having clear three vectors of growth at Raymond group i.e. Lifestyle, Real Estate, and Engineering, this corporate action is in line with creating shareholder value. This strategy to demerge the Real Estate business into a separate company that will be listed through the automatic route is another step to enhance shareholder value. The existing shareholders of Raymond Limited will get the shares in the new listed Real Estate company in a ratio of 1:1.

The demerger aligns with Raymond Group's objectives of simplifying its corporate structure and enhancing shareholder value for operational and structural benefits. Leveraging Raymond's institutional strength, the move will allow for independent, dedicated management teams with industry-specific expertise to sharpen business focus and tailor investment strategies to each sector's unique dynamics.

 

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Mama Nourish Partners with Nature's Basket to Expand Reach in India
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Mama Nourish Partners with Nature's Basket to Expand Reach in India
 

Mama Nourish, a leading brand in traditional nutritional recipes, has partnered with Nature’s Basket, a subsidiary of Spencer's Retail, to make its Laddubars available at Nature’s Basket stores across Mumbai from July 2024. This collaboration aims to bring healthy, heritage-inspired Laddubars closer to urban consumers.

Yash Parashar, Founder of Mama Nourish said, “We are delighted to partner with Nature's Basket, India’s pioneers in premium gourmet foods and curated experiences. With this collaboration, urban global consumers will be able to ‘Discover India’s authentic, nutritional treasures,’ alongside some of the world's most premium gourmet foods, enabling connections back to roots. At Mama Nourish, we are committed to constantly innovating traditional foods in modern convenient avatars and being present where customers need snacking the most.

Building on existing associations with companies like Netflix, Meta (Facebook), Compass Group, and Flipkart, Mama Nourish is expanding its presence beyond Delhi/NCR and Mumbai to cities such as Bangalore, Pune, Hyderabad, Chennai, and Kochi. Mama Nourish Laddubars are now available across 150 major corporate establishments and airports in cities like Delhi, Mumbai, and Hyderabad, broadening their reach to a wider customer base.

Mama Nourish Laddubars are also available at:

  • Ahmedabad Airport
  • Mumbai Airport
  • Delhi Airport
  • Hyderabad Airport

This expansion underscores Mama Nourish's commitment to making traditional nutritional recipes accessible to modern consumers across India.

 

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Retail India News: PV Sindhu, Olympic Medalist, Makes Investment in Wellness Brand Hoop
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Retail India News: PV Sindhu, Olympic Medalist, Makes Investment in Wellness Brand Hoop
 

Hoop, a burgeoning wellness brand, proudly welcomes Olympic medalist PV Sindhu into its fold as both an investor and the brand's ambassador. The collaboration underscores Hoop's commitment to revolutionizing wellness solutions across India.

Specializing in natural products aimed at topical pain relief, muscle recovery, and enhancing sleep quality, Hoop has swiftly gained traction since its inception in October 2023. With a presence in over 1,000 cities nationwide, the brand has carved a niche for itself in catering to the evolving health needs of a dynamic populace.

I tried Hoop products for months and was incredibly impressed with their value not just for athletes, but for anyone who is focusing on living an active life. I’m thrilled to be partnering with Hoop on their mission to help India live active,” said Sindhu.

Founded by former McKinsey consultants Twinkle Uppal and Saharsh Agarwal, Hoop is committed to addressing the evolving wellness needs of modern India.

“With Olympics 2024 right around the corner, Hoop is incredibly proud of Sindhu’s trust in our brand,” said Saharsh Agarwal, co-founder, Hoop.

Since its establishment in October 2023, Hoop has rapidly expanded its reach, serving customers in over 1,000 cities nationwide. The brand has garnered support from prominent angel investors such as Rohit Kapoor (CEO, Food Marketplace, Swiggy), Abhinav Sinha (COO, OYO), Naiyya Saggi (Co-founder, Good Glamm Group), and others.

Hoop emerged out of the unmet wellness needs of young India. Our lifestyles have changed – muscle recovery after workouts, injury prevention during sports, back pain from long sitting hours, neck pain from tech devices, and screentime-induced sleep troubles. While our needs have changed, there are limited innovative products today that fit the lifestyle of new India,” said Twinkle Uppal, co-founder, Hoop.

This strategic partnership with PV Sindhu underscores Hoop's commitment to innovation and its mission to provide innovative wellness solutions tailored to meet the diverse needs of modern Indian consumers.

 

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Nikon India Expands Product Portfolio with the Z6III Full-Frame Mirrorless Camera
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Nikon India Expands Product Portfolio with the Z6III Full-Frame Mirrorless Camera
 

Nikon India Private Limited, a wholly-owned subsidiary of Nikon Corporation, has unveiled the highly anticipated Z6III at Holiday Inn, Mumbai. Reinforcing its commitment to the full-frame mirrorless camera market, Nikon India aims to redefine the art of videography and photography with this new model. Inheriting features from the Z9 and Z8 models, such as in-camera RAW and N-Log videos and the high-performance EXPEED 7 processor, the Z6III is equipped with the world's first partially-stacked CMOS sensor and superior autofocus capability, ensuring exceptional performance.

Sajjan Kumar, MD of Nikon India Pvt Ltd, stated, “We are thrilled to introduce the Z6III, a high-performance full-frame mid-segment camera that inherits the spirit of innovation from our esteemed Z8 and Z9 models. With its exceptional features and unrivaled performance, the Z6III is ready to redefine the videography and photography realm for professionals and enthusiasts. This compact-sized professional camera features the world’s first-ever partially stacked sensor, making it one of the best inventions in imaging technology. Additionally, we have introduced the industry's first brightest Electronic View Finder (EVF) with a staggering resolution of 5.7M. The camera also offers superior video resolutions of up to 6K/60p, Full HD 240p, and in-built N-Log and N-RAW support for high-quality video production. The new Nikon Z6III will become an integral tool for the creator community with its autofocus precision and the ability to freeze fleeting moments with blazing-fast 120fps Pre-Release Capture and an impressive 20fps continuous shooting rate.

Attendees at the event had the opportunity to get hands-on experience with the new Nikon Z6III. The event featured Live Experience Zones showcasing Wedding, Fashion, and Action genres, allowing participants to explore the product's features in various settings.

The Nikon Z6III empowers photographers and videographers to capture fleeting moments with precision and clarity, thanks to the groundbreaking EXPEED 7 processing engine. The camera inherits superior performance and functionality from Nikon's top-tier models, excelling in low-light conditions and backlit scenes. It can detect up to nine subject types, offering improved autofocus performance and higher AF accuracy than its predecessors. With superior low-light performance and new functions that expand creative possibilities, the Z6III is an ideal tool for those ready to push boundaries and tell their stories with stunning visuals.

The Nikon Z6III camera body is available from June 25, 2024, at Rs 2,47,990 (Body Only) across India at Nikon outlets. The Z6III comes with an exclusive introductory offer worth Rs 27,000, which includes an Angelbird AV PRO CFexpress B SE 512 GB or SX 160 GB card, additional battery, and charger. Austria-based Angelbird crafts camera-specific media cards and storage solutions that withstand any environment, empowering creators to achieve its vision confidently. Srishti Digilife is the exclusive distributor for Angelbird Media in India, providing access to their cutting-edge solutions.

 

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Britannia Unveils Special Edition Jim Jam Pops to Celebrate India's Victory
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Britannia Unveils Special Edition Jim Jam Pops to Celebrate India's Victory
 

In a celebration of India's recent victory, Britannia has unveiled a special Go India edition of its Jim Jam Pops. This limited-edition pack features a unique green apple jelly at the center, complemented by tricolor elements of white creme and a saffron biscuit base. Known for its innovative single-layer design of biscuit, creme, and jelly, Jim Jam Pops offers a straightforward enjoyment experience—you just lick and pop. This special edition celebrates India's achievements on the global stage and the unwavering support of fans.

The new Go India edition pack was prominently displayed at Marine Drive and the iconic Wankhede Stadium in Mumbai. Additionally, a digital out-of-home ad featuring the brand’s mascots, Kunal Roy Kapur and Varun Sharma (also known as Jimmy and Jammy), lit up Marine Drive. This coincided with the victory parade of the Indian cricket team. Designed to honor the team's remarkable triumph, this special pack is expected to be a favorite among consumers. Fans can enjoy the flavorful experience of Britannia Jim Jam Pops while celebrating this historic moment.

Currently, the Go India pack of Jim Jam Pops is available on Zepto across Mumbai and Pune, with plans to expand availability across all markets soon. Consumers can look forward to enjoying their favorite open cream biscuit while savoring the taste of victory.

Join us in celebrating with Britannia Jim Jam Pops' Go India pack, where every bite commemorates the extraordinary achievements of our champions. Let's savor the sweetness of success together!

 

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Retail India News: Mama Nourish’s Laddubars™ Now Stocked at Nature’s Basket
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Retail India News: Mama Nourish’s Laddubars™ Now Stocked at Nature’s Basket
 

Mama Nourish, a leading Indian brand dedicated to reviving traditional nutritional recipes in a modern and convenient format, has announced its partnership with Nature’s Basket, a subsidiary of Spencer's Retail and a leader in gourmet premium food experiences in India. As part of this collaboration, Mama Nourish’s Laddubars™ will be available at Nature’s Basket stores across Mumbai starting in July 2024. This partnership brings healthy, heritage-inspired Laddubars™ closer to urban consumers, making them more accessible.

Yash Parashar, Founder, Mama Nourish said, “We are delighted to partner with Nature's Basket, India’s pioneers in premium gourmet foods and curated experiences. With this collaboration, urban global consumers will be able to ‘Discover India’s authentic, nutritional treasures’, alongside some of the world's most premium gourmet foods, enabling connections back to roots. At Mama Nourish, we are committed to constantly innovating traditional foods in modern convenient avatars and being present where customers need snacking the most.” 

Building on partnerships with industry giants such as Netflix, Meta (Facebook), Compass Group, and Flipkart, Mama Nourish also announced the expansion of its presence beyond the Delhi/NCR and Mumbai regions to major cities including Bangalore, Pune, Hyderabad, Chennai, and Kochi. Mama Nourish Laddubars™ are now available across 150 major corporate establishments and airports in cities like Delhi, Mumbai, and Hyderabad, broadening their reach to a wider customer base.

Employees and guests at the following companies and institutions will now be able to enjoy Mama Nourish Laddubars™: Meta (Mumbai, Hyderabad, Bengaluru & Gurugram), Amazon (Hyderabad), Netflix (Mumbai), Aricent (Gurgaon), Google (Gurugaon), Capgemini (Gurgaon & Pune), Grand Hyatt (Kochi), TCS (Kochi, Pune & Mumbai), Adani Green (Ahmedabad), HCL Technologies (Chennai & Noida), IDFC Bank (Mumbai), IKEA (Mumbai), Oracle Solution (Bengaluru), SAP (Bengaluru & Pune), IIT (Chennai), Marriott (Kochi), Axis Bank (Chennai & Noida), Bajaj Allianz (Pune), Biocon (Bengaluru), CAE Simulation (Bengaluru), Capgemini (Gurgaon, Noida & Pune), CitiusTech (Pune), Aptiv (Kochi), Cochin Shipyard (Kochi), Converge (Gurgaon), Cotiviti (Pune), FCAIT (Bengaluru), Godrej (Mumbai), L&T (Mumbai), LKQ (Bengaluru), Minda Industries (Pune), NielsenIQ (Chennai & Pune), One Place (Mumbai), Saranga Geosoftware (Kochi), Simple Energy (Bengaluru), Singularity Creditworld (Mumbai), Syngene (Bengaluru), Technosoft Engineering (Mumbai), Vaco Binary (Gurgaon), Wood PLC (Gurgaon), WSP Global (Noida), Allegis (Pune), and Agilent (Gurgaon).

Mama Nourish Laddubars™ are also available at airports in Ahmedabad, Mumbai, Delhi, and Hyderabad.

 

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{Funding Alert} Udaan Secures $340 Mn in Series E Funding Round
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{Funding Alert} Udaan Secures $340 Mn in Series E Funding Round
 

Udaan, a prominent B2B e-commerce platform, has successfully raised $340 million in its Series E funding round, with M&G Plc taking the lead alongside existing investors Lightspeed Venture Partners and DST Global. The completion of the deal is contingent upon regulatory approvals.

This funding round comprises a combination of fresh equity infusion and the conversion of existing debt (convertible notes) into equity, marking a significant bolstering of Udaan's financial strength and strategic capabilities.

Series E round strengthens our balance sheet and fully funds our business plan. It enables our continued journey of growth and profitability, positioning us well to be public-market-ready in the next 12- 18 months,” commented Vaibhav Gupta, co-founder and CEO, Udaan.

The funds raised will be directed towards enhancing customer experience, expanding market reach, forging strategic alliances with vendors, and reinforcing Udaan’s supply chain and credit capabilities. These initiatives are aimed at sustaining long-term growth and solidifying Udaan's position as a leader in the B2B e-commerce segment.

Udaan is steadfast in its goal to achieve profitability within the next 12-18 months, emphasizing cost optimization measures and operational efficiencies. Earlier this year, the company undertook significant organizational restructuring, including the separation of its technology function into distinct ‘Product’ and ‘Engineering’ verticals and the consolidation of its essentials and discretionary business units.

The restructuring led to key executive changes, including the transition of Gaurav Bhalotia, CTO, and Vivek Gupta, head of essential categories, reflecting Udaan's strategic realignment to drive operational effectiveness and innovation.

Financially, Udaan's parent entity Trustroot Internet reported a 43 percent decrease in gross revenues, declining from Rs 9,900 crore in FY22 to Rs 5,629 crore in FY23. Concurrently, Udaan managed to reduce its losses by 33 percent, amounting to Rs 2,075 crore during the same fiscal year, underscoring the company's proactive measures to streamline operations and optimize financial performance.

With these developments, Udaan remains committed to its mission of transforming the B2B e-commerce landscape in India, leveraging robust funding and strategic initiatives to drive sustainable growth and deliver enhanced value to its stakeholders.

 

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Retail India News: Benetton Group Appoints New CEO, Claudio Sforza
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Retail India News: Benetton Group Appoints New CEO, Claudio Sforza
 

In a recent shareholders' meeting, Benetton Group Srl approved the 2023 financial statements and appointed a new Board of Directors, consisting of Christian Coco (Chairman), Andrea Pezzangora, and Claudio Sforza. Following the meeting, the Board appointed Claudio Sforza as the Chief Executive Officer of Benetton Group.

Sforza, who graduated with a degree in Economics and Commerce from La Sapienza University in Rome, began his professional career in Administration and Finance at Pfizer. He later advanced in the telecommunications sector, gaining extensive experience in upper management roles across various industrial sectors. 

Before joining Benetton, Sforza held significant positions in large corporations, both public and private. His career includes roles at Astaldi, Poste, Ilva, Telecom, and Wind. At Poste, he served as Chief Financial Officer and later managed the subsidiary Postel until 2011. He then became CEO of Gamenet, COO of Ilva Group, and was the legal representative for the management and liquidation of Astaldi dedicated assets.

The appointment of Claudio Sforza as CEO brings a wealth of experience and expertise to Benetton Group, positioning the company for continued success in the retail and fashion industry in Italy and beyond.

 

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Retail India News: ITC Expands Rural Reach and Enhances Distribution Network
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Retail India News: ITC Expands Rural Reach and Enhances Distribution Network
 

In rural markets, ITC has deployed market-specific strategies to enhance direct coverage based on socio-economic indicators and market potential. Supported by a hub-and-spoke distribution model, ITC has expanded its rural stockists network by 1.3 times over the last two years. By leveraging the deep rural connections of ITC's Agri-Business, extensive consumer activations and market development activities were conducted in high-potential rural areas. Enhancements to the digital ecosystem for the stockist channel have significantly improved ITC's distribution reach in rural markets, leading to sales growth substantially ahead of the industry, and demonstrating the company's strong foothold in the retail sector in India.

In urban markets, ITC continues to leverage automation, data-driven insights, and machine-learning solutions to enhance field-force productivity and performance. Emerging technologies like Generative AI are being used to automate operations and increase efficiency. Customised servicing based on outlet potential and retail engagement programmes have been implemented to drive demand for ITC’s products, with a focus on premium grocery outlets. Specific interventions aimed at driving premiumisation in General Trade outlets have been carried out using advanced data analytics.

ITC’s multi-channel distribution network, which facilitates product availability in nearly seven million retail outlets, with more than one-third serviced directly, was strengthened during the year by adding new markets and outlets to its direct servicing base. Market coverage has increased to approximately twice the pre-pandemic levels.

The ITC Trade Marketing and Distribution network has transformed into a smart omni-channel system. The ‘ITC e-Store,’ ITC’s exclusive D2C platform, continues to receive excellent consumer response. The platform, powered by advanced digital technology and robust fulfilment infrastructure, offers on-demand access to over 800 FMCG products across 45+ categories. Category-specific D2C platforms like Classmateshop.com, Dermafique.com, Aashirvaadchakki.com, and Fiama.in provide valuable consumer insights and enhance ITC’s product franchise.

ITC’s digitally powered eB2B platform, UNNATI, has rapidly expanded, covering nearly seven lakh outlets, with a significant number of retailers placing orders directly on the platform.

The scale and diversity of ITC’s distribution network remain pivotal in enhancing market presence, gaining valuable insights into consumer and trade behaviour, and facilitating product launches across geographies. ITC executed over 100 new product launches across target markets and extended the distribution reach of several existing products to effectively leverage new routes-to-markets and meet the assortment needs of emerging channels.

During the year, ITC implemented several interventions to improve operational effectiveness and productivity, thereby strengthening its competitive advantage. These include supply chain and network optimisation, smart buying, efficient freight procurement, and delayering operations through direct shipments to customers. ITC continued to leverage an integrated planning and supply chain tool, powered by advanced algorithms, for inventory optimisation and productivity enhancement, significantly improving supply chain agility and market servicing through enhanced forecast accuracy. The supply chain network was redesigned to enhance the premium portfolio's availability in both existing and target markets across urban and rural landscapes.

An IoT-based solution that monitors stock movements in real-time was used to improve vehicle turnaround time and enhance customer service through data analytics.

 

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V2 Retail Reports 57 Pc Increase in Q1 Revenue, Reaching Rs 414 Cr
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V2 Retail Reports 57 Pc Increase in Q1 Revenue, Reaching Rs 414 Cr
 

V2 Retail, a prominent name in the value retail sector, has reported a substantial 57.11 percent increase in its standalone revenue from operations, reaching Rs 414.17 crore for the first quarter ended June 30. This notable growth reflects the company’s effective strategies and robust performance in the current market landscape, as outlined in a regulatory filing.

In the corresponding quarter of the previous fiscal year, V2 Retail recorded revenue from operations amounting to Rs 263.61 crore, underscoring a significant year-on-year expansion in revenue generation.

Standalone revenue from operations for the quarter ended (QE) June 30, 2024, stood at Rs 414.17 crore,” stated V2 Retail in its regulatory disclosure, emphasizing the firm’s strong financial performance amidst evolving market conditions.

A key highlight of V2 Retail’s performance in Q1FY25 was its impressive same-store sales growth (SSG) of approximately 37 percent, showcasing sustained customer engagement and satisfaction across its retail network.

As of June 30, 2024, V2 Retail operated a total of 127 stores nationwide. The company expanded its footprint further during the quarter by opening 10 new stores, thereby augmenting its total retail area to approximately 13.64 lakh sq. ft. This expansion strategy underscores V2 Retail’s commitment to enhancing its market presence and catering to growing consumer demand.

Commenting on the financial results, V2 Retail mentioned that the “standalone revenue from operations for QE June 30, 2024, given above is subject to limited review/audited by the statutory auditors of the company,” indicating the preliminary nature of the reported figures pending final audit."

Shares of V2 Retail closed at Rs 767.65 apiece on the Bombay Stock Exchange (BSE), reflecting a 2.25 percent increase from the previous day's closing price. The positive market response underscores investor confidence in V2 Retail’s growth trajectory and operational efficiency amid competitive market dynamics.

With a strong foundation in the value retail segment and a strategic focus on expansion and customer satisfaction, V2 Retail remains poised for continued growth and value creation in the retail industry.

 

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D-Mart Reports 18.4 Pc Increase in Q1 Revenue, Reaching Rs 13,712 Cr
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D-Mart Reports 18.4 Pc Increase in Q1 Revenue, Reaching Rs 13,712 Cr
 

Avenue Supermarts Ltd, the owner and operator of the retail chain D-Mart, has reported an 18.36 percent increase in standalone revenue from operations, reaching Rs 13,711.87 crore for the June quarter. This marks a significant growth from the Rs 11,584.44 crore recorded in the same period last year, according to a regulatory filing by the company to the BSE.

Standalone revenue from operations for the quarter ended (QE) June 30, stood at Rs 13,711.87 crore,” Avenue Supermarts stated in the filing. This substantial increase underscores the company's robust performance in the face of market challenges and its ability to attract and retain customers.

The total number of D-Mart stores as of June 30 stood at 371. This includes one store in Rajkot, Gujarat, which is temporarily closed for customers.  The expansion of its store network highlights Avenue Supermarts’ continued efforts to strengthen its presence and accessibility across various regions.

Promoted by the Damani family, Avenue Supermarts also mentioned that the “standalone revenue from operations for QE June 30, 2024, given above is subject to limited review by the statutory auditors of the company.” This indicates that the reported figures are preliminary and will undergo further verification by the auditors.

In comparison, Avenue Supermarts’ standalone revenue for the April-June quarter of FY23 was Rs 9,806.89 crore. This demonstrates a consistent year-on-year growth trajectory, reflecting the company's strategic initiatives and effective market penetration.

The company's performance in the June quarter is a testament to its resilient business model and operational efficiency. As D-Mart continues to expand its footprint and enhance its service offerings, it remains well-positioned to capitalize on the evolving retail landscape in India.

With a strong focus on customer satisfaction and operational excellence, Avenue Supermarts Ltd is poised to achieve sustained growth and continue delivering value to its stakeholders. The company's future outlook appears promising as it navigates through the competitive retail sector, leveraging its strengths and strategic vision.

 

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Retail India News: India Brings UPI Payments to Paris' Celebrated Galeries Lafayette
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Retail India News: India Brings UPI Payments to Paris' Celebrated Galeries Lafayette
 

India has launched the Unified Payments Interface (UPI) at Paris’ historic department store Galeries Lafayette, following its successful debut at the iconic Eiffel Tower. This significant step aligns with Prime Minister Narendra Modi’s vision of globalizing UPI, an instant payment system developed by the National Payments Corporation of India (NPCI) in 2016.

On July 3, 2024, the UPI became live at the flagship store of the world-renowned Galeries Lafayette in Haussmann, Paris. This expands the acceptance of UPI in Paris after a successful launch at the iconic Eiffel Tower,” the Indian Embassy in France elaborated. 

Ambassador of India to France and Principality of Monaco Jawed Ashraf inaugurated UPI at the store with a live demonstration, accompanied by Nicolas Houze, CEO of Galeries Lafayette, and Alain Lacour, Chairman of Lyra Group. 

“Delighted to launch @UPI_NPCI in the world-famous @Galeries_Laf in Paris. After the launch in the Eiffel Tower in Jan 2024, expanding UPI across France. A journey that PM @narendramodi began in 2018 with UPI in Singapore taking another step forward,” Ashraf stated in a post on X.

In February, India formally introduced UPI at the Eiffel Tower, advancing Prime Minister Modi’s “vision of taking UPI global.”

Recalling the successful UPI launch at the Eiffel Tower in January 2024 and the subsequent meeting for potential merchants with NPCI International in February 2024, Ambassador Ashraf welcomed the rapid agreement and arrangement between Lyra and NPCI. This launch at the world-famous Galeries Lafayette precedes the Paris Olympics starting July 26, 2024, which is expected to attract a large number of Indian visitors.

The ambassador highlighted the first international launch of UPI in Singapore in 2018 by Modi and expressed satisfaction with UPI's global progress. He emphasized the system's potential for quick, safe, and efficient cross-border digital payments and its growth as a medium for cross-border remittances, eventually becoming a global digital payment standard.

UPI powers multiple bank accounts into a single mobile application of any participating bank, merging various banking features, seamless fund routing, and merchant payments into one platform, according to NPCI.

 

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Kalyan Jewellers Reports Strong Q1 FY2025 Performance with 27 Pc Revenue Growth
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Kalyan Jewellers Reports Strong Q1 FY2025 Performance with 27 Pc Revenue Growth
 

The recently concluded quarter has been satisfying for Kalyan Jewellers, showing robust operating performance across India and the Middle East despite extreme volatility in gold prices and a strong base quarter. In Q1 FY2025, consolidated revenue grew by approximately 27 percent compared to the same period in the previous financial year. This demonstrates the brand's resilience and strength in the retail sector in India and beyond.

In India, revenue growth for Q1 FY2025 was around 29 percent compared to Q1 FY2024, driven by strong operating momentum and a healthy same-store sales growth of approximately 12 percent. During this quarter, Kalyan Jewellers launched 13 Franchisee-Owned-Company-Operated (FOCO) showrooms in India, with a strong pipeline of showrooms set to open in the coming quarters, aligning with the company's previous guidance.

In the Middle East, the company witnessed revenue growth of approximately 16 percent compared to the same period in the previous financial year, mainly driven by same-store sales growth. The Middle East contributed about 15 percent to the consolidated revenue for the recently concluded quarter.

Kalyan Jewellers' digital-first jewelry platform, Candere, recorded revenue growth of approximately 13 percent during the recently concluded quarter compared to the same period last year. During this quarter, Kalyan Jewellers signed documentation to increase its stake in Candere, converting Enovate Lifestyles Private Limited (Candere) into a wholly owned subsidiary of Kalyan Jewellers India Limited.

The company is enthusiastic about the upcoming showroom launches and is preparing fresh collections and campaigns for the festive and wedding season across the country, starting with Onam towards the end of the current quarter. As part of the previously communicated plan to launch over 130 new showrooms during the current financial year, Kalyan Jewellers plans to launch another 40 Kalyan showrooms in India, 30 Candere showrooms, and the first showroom in the U.S. by Diwali.

During the recently concluded quarter, Kalyan Jewellers launched 24 showrooms across Kalyan and Candere formats, bringing the total number of showrooms as of June 30, 2024, to 277 (Kalyan India – 217, Kalyan Middle East – 36, Candere – 24).

 

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Retail India News: KRBL Strengthens Leadership Team with Key Appointments
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Retail India News: KRBL Strengthens Leadership Team with Key Appointments
 

KRBL Limited, known for its flagship India Gate Basmati Rice, the world's No 1 Basmati Rice brand*, has appointed two key executives to its leadership team. Prabhakar Jha joins as General Manager of Sales and Distribution, while Kamal Kant Kanaujia assumes the role of Deputy General Manager in the marketing team.

These appointments underscore KRBL's commitment to bolstering its market position and fostering innovation within the food industry. Both Prabhakar Jha and Kamal Kant Kanaujia bring extensive expertise that will enhance the company's capabilities and drive its vision for pioneering advancements in the market.

Prabhakar Jha, with a distinguished 16-year career spanning Reckitt Benckiser, Abbott, and Emami, will lead KRBL's Sales and Distribution efforts across East and West India, including Nepal. His expertise includes Sales Operations, Trade and Customer Marketing, GTM Initiatives, Distribution and Channel Management, Promotions and Launches, People Management, Strategic Planning, Business Analysis, and Budgeting.

Ayush Gupta, Business Head of Domestic Sales at KRBL Limited, commented, "Experienced professionals from the FMCG sector bring not only knowledge but also a transformative growth vision. Their insights will undoubtedly propel KRBL to new heights, reinforcing our commitment to innovation, quality, and market expansion."

Jha expressed, "Joining KRBL—a company synonymous with quality in the rice industry—is a significant opportunity. I am eager to leverage my sales and distribution expertise to drive growth and excellence in every grain we deliver."

Kamal Kant Kanaujia, with over 17 years of FMCG marketing experience from Reliance Consumer Products Ltd. and Adani Wilmar Ltd., joins as Deputy General Manager in the marketing team. His deep understanding of brand marketing across diverse food categories positions him perfectly to lead innovative marketing strategies and support India Gate in maintaining its industry leadership.

Kanaujia remarked, "I am excited to join KRBL and apply my extensive experience with leading food brands to spearhead innovative marketing initiatives. It's a privilege to contribute to KRBL's journey and strengthen India Gate's position as an industry leader."

With these strategic appointments, KRBL reinforces its commitment to innovation, quality, and market expansion. The company is optimistic about achieving robust growth through continued domestic market expansion and enhanced global exports.

 

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Retail India News: Del Monte Foods Appoints Abhinav Kapoor as CEO
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Retail India News: Del Monte Foods Appoints Abhinav Kapoor as CEO
 

Del Monte Foods has appointed Abhinav Kapoor as Chief Executive Officer (CEO), effective immediately, aiming to strengthen its growth momentum in the Indian FMCG retail market and consolidate its industry position.

Abhinav Kapoor will lead the Del Monte Foods Senior Leadership Team across all functions and steer the company's long-term strategy as outlined by the Del Monte Foods Board.

Harjeet Kohli, Joint Managing Director of Bharti Enterprises, commented, “On behalf of the entire board of Del Monte Foods, I welcome Abhinav to the organization. We are confident that he will successfully scale up operations in India, both in the B2B and B2C spaces, building on strong organic growth across categories and initiating transformational changes in allied product portfolios. His extensive experience in sales and distribution in the FMCG/Consumer Businesses sector makes him a valuable asset as we continue to deliver sustainable growth and profitability.

This appointment underscores Del Monte Foods' commitment to strengthening its leadership team and enhancing operational capabilities. Abhinav brings over two decades of experience in sales and distribution within the FMCG/Consumer Businesses sector. As CEO, he will focus on elevating the Del Monte brand by consolidating the product portfolio and streamlining the distribution network to ensure seamless delivery of high-quality products to customers.

Previously, Abhinav served as Vice President of Sales at VIP Industries, where he was responsible for P&L Management, Multiple Channels, and Sales IT. Before his tenure at VIP Industries, he was the Business Head of the Foods and Snacks Division at Cavinkare. His career also includes key positions at Britannia Industries, Mondelez, and Marico.

Abhinav Kapoor holds an MBA from Symbiosis Institute of Business Management, Pune, and a Bachelor's degree in Commerce from Symbiosis College for Arts and Commerce.

 

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Retail India News: Marico Partners with Kaya to Expand Presence in Advanced Science-Backed Personal Care
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Retail India News: Marico Partners with Kaya to Expand Presence in Advanced Science-Backed Personal Care
 

Marico Limited, a leading FMCG company in India, and Kaya Limited, a well-known provider of dermatological solutions, have announced a strategic collaboration. Marico will exclusively handle the sales and marketing of Kaya’s extensive range of over 75 science-based personal care products outside of Kaya’s clinics. This partnership aims to enhance the brand’s market presence and accessibility by leveraging the expertise and capabilities of both companies.

Kaya offers a wide portfolio of dermatologist-recommended products, including daily essentials and specialized solutions for acne, brightening, sun care, anti-aging, and hair care. Currently, Kaya’s products are available on leading e-commerce marketplaces and in over 70 Kaya Skin Clinics across India.

Saugata Gupta, MD & CEO, Marico Ltd commented, “Science and efficacy-based skin care has revolutionized premium personal care both in India and globally, and has also been the missing piece within Marico’s Premium Personal Care play. We believe that with the potent combination of a brand of Kaya’s stature and Marico’s organized channel reach and digital marketing capabilities, the opportunity to scale up the products business can be another growth driver for us over the next few years.”

Rajiv Suri, Global CEO of Kaya Limited shared, “We are very excited to collaborate with Marico, which will help us enhance our visibility and reach through their already established distribution and marketing networks. Kaya’s 75+ efficacious products will reach wider geographies and acquire more shelf space, ultimately boosting brand visibility and recall, and establishing long-term engagement with consumers.”

Marico achieved a turnover of Rs. 96.5 billion (USD 1.2 billion) during FY23-24 from its product sales across India, Asia, and Africa.

Kaya offers an extensive range of advanced skincare, hair care, and body care solutions, including Anti-Ageing, Brightening and pigmentation treatments, Acne and Scar treatments, Hair Care products, Beauty Facials, Body Contouring services, and Laser hair reduction treatments.

 

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Malabar Gold & Diamonds Expands in UK, Opens Second Showroom in Leicester
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Malabar Gold & Diamonds Expands in UK, Opens Second Showroom in Leicester
 

Malabar Gold & Diamonds, a global leader in jewelry retail with 350 showrooms across 13 countries, has inaugurated its second showroom in the UK, located in Leicester. The grand opening ceremony was graced by Peter Soulsby, City Mayor for Leicester, alongside key executives including Shamlal Ahamed, MD-International Operations; Mohammed Ziad, Head of Operations – UK & Europe; Santhosh T, Regional Head; and Naufal Thadathil, Zonal Head, among others.

Situated on Belgrave Road's Golden Mile, the expansive 2,000 sq. ft showroom showcases over 20,000 jewelry designs from 20 countries, catering to various styles including bridal, occasional, daily, and office wear in gold, diamonds, and precious gems.

We began our operations in the UK a year ago with our first showroom in London, and it gives me immense pride that we are launching our 2nd showroom in the UK, in Leicester, within such a short span, which is a testament to the trust placed by our customers. We remain committed to elevating the jewelry shopping experience for customers with world-class products and assurances like transparency, 100 percent value for exchange, lifetime maintenance, etc. With every new store opening, we are inching one step closer to our vision of becoming the leading global jewelry retailer”, said M P Ahammed, Chairman, Malabar Group.

There is a very vibrant Indian sub-continent community here in the UK who deeply appreciate the artistry of Indian handcrafted jewelry. This has inspired us to expand our footprint with a new showroom in Leicester. This opening is more than an addition to our global retail presence; it signifies our unwavering commitment to excellence, craftsmanship, and unparalleled customer service. We have ambitious expansion plans in the UK & Europe region with immediate openings planned in Southall and Wembley in London, as well as Birmingham and Manchester”, commented Shamlal Ahamed, MD-International Operations, Malabar Gold & Diamonds. 

In line with its mission to promote India's indigenous craftsmanship globally, Malabar Gold & Diamonds is embarking on a robust expansion plan, strengthening its presence in existing regions and entering new markets such as South Africa, Egypt, Bangladesh, Turkey, and New Zealand.

Abdul Salam K.P, Vice Chairman of Malabar Group commentedResponsibility & sustainability are woven into our business fabric, from sourcing LBMA-certified bullion and conflict-free diamonds to ensuring transparency with customers, fair labor practices, and contributing to society through ESG initiatives. In line with the Make in India and Market to the World initiative, we will remain committed to bringing Indian handcrafted jewelry to a global audience.”

Malabar Gold & Diamonds is renowned for its ‘Malabar Promise’ of quality and service assurance, including transparent pricing, assured lifetime maintenance across their global showrooms, guaranteed buyback, tested and certified diamonds, and responsible sourcing practices. Their ESG initiatives, focusing on Health, Hunger Free World, Housing, Education, Women Empowerment & Environment, underscore their commitment to social responsibility

 

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Britannia Names Former RBI Governor Urjit Patel as Independent Director
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Britannia Names Former RBI Governor Urjit Patel as Independent Director
 

Britannia Industries has made significant strides in bolstering its governance and expertise with the appointment of Dr. Urjit Patel, former Reserve Bank of India (RBI) Governor, as an additional Non-Executive Independent Director. Alongside him, Sunil Siddharth Lalbhai, Managing Director of Atul Limited, joins the board. These appointments, effective from July 2, 2024, pending shareholder approval at the Annual General Meeting (AGM) on August 12, 2024, are set for a five-year term.

Dr. Urjit Patel brings extensive global financial experience, having served as the RBI's 24th Governor from 2016 to 2018. His tenure was marked by significant economic reforms and a strong stance on monetary policy issues such as inflation targeting. Prior to his governorship, Patel held key roles at the RBI, including Deputy Governor, and played crucial roles in international economic policy forums.

Sunil Siddharth Lalbhai, with over three decades of leadership at Atul Limited, a prominent player in the chemical industry, joins Britannia's board with a robust background in strategic management and industry-specific insights. Lalbhai's contributions extend beyond corporate leadership; he has been involved in policy formulation for the chemical sector, contributing to India's industrial development.

The market responded positively to these appointments, with Britannia's shares trading up by over 1.5 percent on the National Stock Exchange (NSE) as of July 2, 2024, reaching Rs 5,484.25 per share. Investors anticipate that Patel and Lalbhai's combined expertise will fortify Britannia's strategic direction in the competitive FMCG sector.

Britannia Industries, a cornerstone of India's FMCG landscape renowned for its diverse product portfolio, anticipates that these appointments will steer the company toward sustained growth and leadership. The forthcoming AGM on August 12, 2024, is poised to ratify these appointments, signaling a pivotal moment in Britannia's corporate governance strategy.

For further details, shareholders and stakeholders alike eagerly await the AGM to formally endorse these pivotal appointments and chart Britannia's course in the dynamic FMCG market.

 

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Retail India News: Urban Tots Expands into Global Markets
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Retail India News: Urban Tots Expands into Global Markets
 

The global toy market, valued at $104 billion in 2023, is steadily growing. Within this landscape, India's toy industry is rapidly emerging, projected to reach $3 billion by 2028 with a 12 percent CAGR from 2022 to 2028. This expansion presents significant opportunities for Indian toy manufacturers to secure a larger share of the global market.

Urban Tots, a prominent Indian toy manufacturer, is embarking on a new venture to export its innovative and high-quality toys to international markets. Committed to bringing joy and educational value to children's lives worldwide, Urban Tots aims to expand its presence across key markets.

Educational toys, which enhance children's cognitive, social, and physical development, are becoming increasingly popular. Parents are turning to these toys to help improve their children's IQ and problem-solving skills, often challenging to impart through traditional methods. These toys are known for stimulating creativity, refining fine motor skills, and enhancing critical thinking. This trend highlights the important role of play in child development.

Urban Tots prioritizes producing safe and developmentally beneficial toys. The company's products are designed with children's safety in mind, meeting or exceeding international toy safety standards. All Urban Tots toys are BIS-approved, showcasing the company’s dedication to quality and safety. This commitment aims to earn the trust of parents and caregivers globally, ensuring children engage with safe and enriching toys.

Urban Tots plans to expand into several strategic markets, starting with the Gulf countries, and then moving to the United States, the United Kingdom, Australia, Canada, Germany, and Japan. The company has established strong trade relations with these nations and is ready to introduce its premier educational toys to these markets. Each market offers unique growth opportunities, supported by their robust economies and high demand for innovative educational products.

Urban Tots stands out as a cost leader in the toy industry, focusing on creating superior products at affordable prices. With advanced manufacturing capabilities, Urban Tots offers a diverse range of toys and motorized vehicles worldwide. This emphasis on affordability without compromising quality uniquely positions the company in the competitive global toy market.

Toys play a crucial role in a child's development, aiding in the cultivation of physical, cognitive, and social skills. They allow children to explore their surroundings, understand new concepts, and expand their imagination. Educational toys, specifically, are designed to stimulate learning through play, helping children grasp complex subjects engagingly and enjoyably. Urban Tots is committed to creating products that support children's holistic growth.

Urban Tots' expansion into international markets is a significant milestone, positioning the company as a global leader in the toy industry. By combining quality, safety, and educational value, Urban Tots is poised for substantial growth and aims to positively impact children's lives worldwide.

Urban Tots' journey exemplifies the power of innovation and dedication in creating meaningful products. As the company continues to expand, it remains committed to bringing joy and learning to children everywhere, making the world a more playful and knowledgeable place for future generations.

 

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Retail India News: Goodveda Boosts Millet Snack Market
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Retail India News: Goodveda Boosts Millet Snack Market
 

In alignment with the Indian government's 'Millet Revolution' campaign, Goodveda, a leading innovator in natural healthcare solutions, has introduced a new range of nutritious millet-based snacks called 'Milletious.' Within its first year, Goodveda is partnering with Barista on a pan-India level to revolutionize snacking habits in the country. This move aims to support the government’s initiative to promote millet consumption and transform India's dietary habits.

Goodveda's nutritious snacks will be available at Barista locations nationwide, offering healthy snacking alternatives to coffee lovers, café patrons, and fitness enthusiasts. Abhishek Gaggneja, Founder of Goodveda, said, "We are extremely excited to be in line with our government’s Millet Revolution, which is paving the way for a healthier lifestyle. We want to be the flag bearers of holistic well-being. At Goodveda, we aim to provide wholesome, delicious snacking options that support both your health and taste buds. By partnering with Barista, we're making it easier for people to enjoy nutritious snacks on-the-go, complementing their favorite coffee moments.

The premium millet-based baked crunchies are ideal for health-conscious consumers seeking nutritious, lightweight, gluten-free options with a low glycemic index. Made from wholesome ingredients like millets, bajra flour, jowar flour, and wheat flour, these snacks combine traditional grains with appealing taste. 'Milletious' offers four flavorful options: Gazab Garlic, Hotshot Chilli, Mad Masala, and Masoor Methi, catering to different taste preferences while maintaining the health benefits of millets.

The Millet Crunchies come in 80 gm and 200 gm packs and are rich in proteins, dietary fiber, and essential minerals such as iron and magnesium. They are an excellent snack choice for everyone, including those with specific dietary restrictions. These crunchies are baked, maida-free, preservative-free, and made from plant-based ingredients, making them suitable for vegans and health-conscious consumers.

Recognizing the importance of millets, Goodveda’s 'Milletious' range aims to redefine and revolutionize snacking by prioritizing health, improved nutrition, and great taste. The snacks are available on Goodveda’s website, Amazon, and Flipkart throughout India.

 

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Retail India News: Ludic Launches Enhanced Canvas Sneakers Collection
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Retail India News: Ludic Launches Enhanced Canvas Sneakers Collection
 

Ludic, the footwear-first lifestyle brand, introduces a new collection of enhanced canvas sneakers, designed and manufactured in India. The collection is crafted to meet men's and women's style and comfort needs, featuring shades that complement various outfits, blending classic and modern styles.

Enhanced Canvas Low: The Enhanced Canvas Low sneakers elevate the timeless canvas sneaker design with unique details. Crafted with superior canvas fabric, suede and leather panels, and extra padding, these sneakers are ideal for all-day wear. Available in shades of white, red, brown, navy blue, and light green, each pair comes with an extra set of laces for versatility. These sneakers are priced at Rs 2,799 each.

Enhanced Canvas Pro: The Enhanced Canvas Pro sneakers feature a sock-like upper for a snug fit and no-tie laces for easy on and off. Developed with in-house canvas fabric, suede, and leather overlays, these sneakers come in black, grey, and olive green, each with a gum sole and a red detail for a pop of color. An extra pair of traditional laces is included. These sneakers are priced at Rs 3,299 each.

Ishit Jethwa, Founder of Ludic, stated, “When we say we are a footwear-first lifestyle brand, we mean that 50 percent of our product portfolio will always be footwear, whether sneakers, sliders, or more. We now bring you our new enhanced canvas styles, with which we take our designs up a notch, ensuring that our consumer finds everything he needs in the footwear with an affordable buy from us.

Ajaaz Rasheed, Principal Designer at Ludic added, "Everyone owns a pair of canvas sneakers in their life, maybe even the first pair of sneakers. As we grow, although our choices in footwear evolve, owning a pair of canvas sneakers is a hit of nostalgia. A feel-good pair. While developing these two styles, this ‘feel-good pair’ was at the core of our brief. We are a footwear-first lifestyle brand, and this collection resonates the same.

Ludic’s products are available on their website, Amazon, and Flipkart across India.

 

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Retail India News: Woodsworth Introduces the Serengeti Furniture Range - Inspired by African Tribal Motifs
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Retail India News: Woodsworth Introduces the Serengeti Furniture Range - Inspired by African Tribal Motifs
 

Woodsworth from Pepperfry proudly unveils its latest furniture collection, "Serengeti - The Spirit of Safari." This new line draws inspiration from the vibrant tribal motifs found across Africa, offering a captivating glimpse into the continent's indigenous artistry.

The "Serengeti" collection features furniture crafted from premium Mango wood, adorned with digitally printed motifs and traditional symbols. Available options include coffee tables, bedside tables, armchairs, king and queen-size beds, dining tables, dining chairs, and sideboards. Each piece in the collection embodies the craftsmanship and cultural heritage of African artisans.

Combining traditional African design elements with contemporary aesthetics, Serengeti seamlessly blends into any home decor, adding warmth and adventure. The collection's whitewash finish and intricate patterns evoke a sense of exploration, inviting homeowners to infuse their spaces with the essence of Africa.

Woodsworth from Pepperfry remains committed to offering exceptional value through distinctive furniture that combines style with functionality, comfort, and uncompromising quality. The Serengeti collection exemplifies this commitment, providing a unique blend of timeless design and practicality.

Discover "Serengeti - The Spirit of Safari" exclusively on Pepperfry’s website and in stores, where each piece not only enhances your home decor but also tells a story of adventure and cultural exploration.

 

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Retail India News: Growel’s 101 Mall Initiates Environmental Cleanup Project
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Retail India News: Growel’s 101 Mall Initiates Environmental Cleanup Project
 

Growel’s 101 has launched a significant environmental project aimed at cleaning a nearby waterway. The mall has successfully removed approximately 3 tons of garbage from the stream adjacent to its premises, addressing issues such as water pollution, reduced soil quality, disease spread, and an unhygienic environment. Recognizing the global impact of these efforts, Growel’s 101 is committed to tackling pollution at its source for a healthier future.

The waterway in question was heavily polluted with plastic and other non-biodegradable waste, posing a threat as it flows into larger bodies of water and eventually reaches oceans and seas, exacerbating pollution levels. Such contamination has adverse effects on marine life, human health, and the overall ecological balance.

By initiating this cleanup drive, Growel’s 101 aims to mitigate the detrimental effects of water pollution. The efforts involve systematically removing non-biodegradable waste and diverting it for recycling, thereby reducing the environmental footprint and promoting sustainability. Recycling these materials ensures they are repurposed, contributing positively to the natural ecosystem.

The employees of Growel’s 101 Mall actively participate in this initiative, demonstrating their commitment to environmental stewardship. They collaborate with experts to ensure thorough and effective cleanup activities, showcasing the mall’s dedication to corporate social responsibility.

Santosh Gupta, Operations Head of Growel’s 101 Mall said, “At Growel’s 101, we are committed to being responsible corporate citizens and preserving our surrounding environment. Our recent initiative to clean up the stream adjacent to our premises reflects our vision for a cleaner, healthier future for all. We will continue to undertake such initiatives to ensure sustainability and cleanliness for future generations.

Growel’s 101’s environmental initiative underscores the impact of local actions on a global scale. By cleaning local waterways and implementing recycling programs, the mall contributes significantly to cleaner water bodies and a healthier environment. This commitment to sustainable practices sets a positive example for businesses and communities alike.

 

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Retail India News: CDC Experience Store Reopens in Mumbai
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Retail India News: CDC Experience Store Reopens in Mumbai
 

Crepdog Crew (CDC) has relaunched its experiential store, CDC Experience, in Bandra West, Mumbai. Originally opened in May 2023, the store was rebuilt in just 53 days following a fire accident. The reopening event on Sunday, 30th June, was attended by streetwear enthusiasts, sneakerheads, influencers, and notable figures from the lifestyle, music, and fashion industries. The celebration featured DJ performances by J. Muller, Lynston, MO Styles, and The Spindoctor and was supported by leading brands such as Bira, Monkey Shoulder, Pistola, Pursue, Qua, Sepoy and Co, and Stranger and Sons.

Spanning 3,500 sq. ft, the Mumbai store boasts Asia’s largest sneaker wall with over 600 limited-edition sneakers and the largest collection of home-grown streetwear, hype clothing, and accessories brands. Designed by Faizan Khatri Designs, the store's modern minimalist interior resembles a Scandinavian art gallery, showcasing streetwear as wearable art. CDC Experience retails a range of Indian homegrown streetwear brands like Balav, Beyond Extremes, Deadbear, Esthreall, Farak, Huemn, Kilogram, Natty Garb, Odd Mood, and Warping Theories, among others.

Anchit Kapil, Co-founder and CEO of Crepdog Crew said, “We are very excited to be back with our Mumbai store. What happened was definitely unfortunate but I’m happy to see the way the team has bounced back and got the outlet back to its former glory in less than 60 days. The Mumbai store is the cornerstone of Mumbai's sneaker and streetwear culture. We can’t wait to welcome the community back to an even more exciting CDC experience.

Nihaar Kota, Founder of Khwaab Pictures added, "As a longtime fan of Crepdog Crew, I'm thrilled to witness their triumphant return after the recent setback. The closure of CDC Experience was tough for sneakerheads and hypebeasts alike as there was no place to go, but now, seeing it reopen stronger than ever is truly inspiring. CDC remains the ultimate destination for sneakers and streetwear enthusiasts, and I'm excited to see what they have in store for us.

Founded in 2019 initially as an Instagram page, CDC has since evolved into a multiverse of the most wanted sneakers and streetwear products. It is India's first and only platform that offers young streetwear designers a launchpad to showcase their creativity on the country's largest stage for sneakers, streetwear, and hype culture. CDC’s online retail platform reaches 1 million visitors monthly. With physical stores now in New Delhi and Mumbai, CDC is set to open another store in Hyderabad soon, expanding its offline presence.

 

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Retail India News: Himalaya Wellness Brings Pure Cow Ghee Range for Babies
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Retail India News: Himalaya Wellness Brings Pure Cow Ghee Range for Babies
 

Himalaya Wellness Company, a leading wellness brand in India, has launched a new Pure Cow Ghee Range specially formulated for babies with sensitive skin and newborns. This retail initiative aims to cater to the evolving needs of Indian consumers with products enriched with Pure Cow Ghee, a natural moisturizer known for its intense moisture and deep nourishment properties.

Chakravarthi N V, Director – BabyCare at Himalaya Wellness Company said, “We understand the evolving needs of consumers and are delighted to introduce the Himalaya Pure Cow Ghee Range, crafted to meet the specific requirements of babies with sensitive skin and newborns. Sensitive skin babies need the strength from within, and our hero ingredient, ‘Cow Ghee,' is what sets our baby care range apart. With this campaign, we intend to create awareness amongst our customers on the immense benefits of this Golden Elixir (Pure Cow Ghee) for baby’s sensitive skin and garner their interest in our new affordable premium skin care range.

Dermatologically tested and pediatrician-evaluated, the Himalaya BabyCare Pure Cow Ghee range is free from harsh ingredients and aims to improve the skin barrier, protect the skin’s natural microbiome, and ensure optimal skin health for babies with sensitive skin and newborns.

This new range is now available in retail outlets across India, providing parents with effective skincare solutions for their babies.

 

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Retail India News: Vedix and Shoppers Stop Launch Exclusive Shop-in-Shop in Bangalore
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Retail India News: Vedix and Shoppers Stop Launch Exclusive Shop-in-Shop in Bangalore
 

Vedix, the world's largest customized Ayurvedic personal care brand, has launched its first shop-in-shop (SIS) store in collaboration with Shoppers Stop at Garuda Mall, Bangalore. This partnership aims to enhance the retail experience for Shoppers Stop customers in India, offering a premium, customized Ayurveda beauty experience.

Customers can now benefit from free hair and skin analyzers, advanced devices that provide detailed insights into their specific issues, leading to more accurate product recommendations and higher efficacy. Jatin Gujarati, Business Head at Vedix, commented, “We have a significant online presence in India and globally. These are our initial days in offline expansion, and we are grateful to have Shoppers Stop as our partners. With many industry firsts, such as analyzers, Ayutree, and AyuPods in this store, we are confident that it will create a differentiated experience for Shoppers Stop customers and drive significant engagement.

Vedix has introduced its Ayutree device, an IoT-enabled system that dispenses customized oil samples in real-time. Customers can select their scalp and hair types on a tablet and choose up to two Ayupods. The Ayutree then mixes and dispenses the precise combination, offering customers a free sample tailored to their needs.

The store also features AyuPods, available exclusively in Vedix’s stores, allowing for enhanced customization of products based on specific hair and skin goals. Biju Kassim, Customer Care Associate and CEO of Beauty at Shoppers Stop, said, "We are excited to welcome Vedix on board, offering our customers the opportunity to experience personalized Ayurveda integrated with innovative technology for skincare and haircare solutions. This introduction reflects our commitment to providing patrons with modern, immersive experiences and options of personalized product choices in-store."

Vedix has reached an annual revenue run rate of Rs 150 crore and currently has a customer base of 15 million. According to the Statista 2024 report, the Beauty and Personal Care market worldwide is expected to generate revenue of $646.20 billion in 2024, with an annual growth rate of 3.33 percent (CAGR 2024-2028). These innovations may provide hyper-growth opportunities for Vedix in both online and offline formats.

 

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Retail India News: Whiskers India Expands Retail Presence with Reliance’s Fashion Factory Partnership
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Retail India News: Whiskers India Expands Retail Presence with Reliance’s Fashion Factory Partnership
 

Whiskers India, a unisex grooming product brand, which has MTV Roadies celebrity Rannvijay Singha as its partner, announced a retail collaboration with Reliance’s Fashion Factory. This partnership aims to cater to over 100,000 lifestyle consumers through Fashion Factory's 100+ outlets across India. Whiskers India offers a wide range of products, including beard care, unisex skincare, body care, tattoo care, deodorants, and perfumes.

Through this partnership, Whiskers India gains access to a broad consumer base and all-India reach, while Fashion Factory benefits from superior quality products at competitive prices, endorsed by the star-studded brand ambassador, Rannvijay Singha. "This collaboration allows us to reach a wider audience and bring our quality products to more consumers," said Neeja Shah Goswami, CEO, Whiskers India.

Whiskers India targets young Indian consumers and positions itself as an aspirational brand. Fashion Factory, known for housing major international brands, attracts a similar audience, making this collaboration mutually beneficial.

Products such as Whiskers India's nine perfumes, three deodorants, Aloe Vera Face Wash, Face Scrub, Mud Pack, Beard Oil, Beard Wash, and Hair Serum are currently available in Fashion Factory's top 30 outlets in major cities. The availability will soon expand to all 100+ Fashion Factory outlets across India.

This strategic partnership aims to strengthen Whiskers India's retail presence and meet the growing demand for grooming products among young, aspiring consumers in India.

 

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Retail India News: Sumuka Agro Receives Approval for Merger with Gujjubhai Foods
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Retail India News: Sumuka Agro Receives Approval for Merger with Gujjubhai Foods
 

Sumuka Agro, a notable consumer food brand in India, has received the merger NOC from the Bombay Stock Exchange (BSE), paving the way for its strategic integration with Gujjubhai Foods. This merger marks a significant step towards consolidating their market strengths and enhancing operational synergies in the retail sector.

The merger proposal was confirmed with a 'no objection' communication from BSE. Sumuka Agro and Gujjubhai Foods have acknowledged and appreciated the stock exchange's favorable response, signaling confidence in the strategic alignment and future prospects of the combined entity. The merger is expected to be completed by October 2024, pending approvals from SEBI and NCLT.

"We are delighted to receive the stock exchanges' approval for our merger with Gujjubhai Foods," said Shaili Patel Bhatt, Director and CFO of Sumuka Agro Industries Limited. "This decision highlights the robust rationale behind our strategic alignment and the anticipated value creation for all stakeholders."

The merger of Sumuka Agro and Gujjubhai Foods is expected to create a strong presence in the commodities and consumer goods sectors, combining complementary strengths to capitalize on future opportunities and navigate changing market dynamics. Both firms are dedicated to completing all necessary formalities while awaiting final approval from SEBI and NCLT.

 

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Benetton Group Names Claudio Sforza as CEO Following Shareholders' Meeting
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Benetton Group Names Claudio Sforza as CEO Following Shareholders' Meeting
 

The Benetton Group Srl Shareholders' Meeting recently approved the 2023 financial statements and appointed a new Board of Directors consisting of Christian Coco (Chairman), Andrea Pezzangora, and Claudio Sforza.

Subsequently, the Board of Directors appointed Claudio Sforza as the Chief Executive Officer of Benetton Group. Sforza, who holds a degree in Economics and Commerce from La Sapienza University in Roma, began his career in Administration and Finance with Pfizer before advancing in the telecommunications sector.

Prior to joining Benetton Group, Sforza held executive roles in various large corporations across both public and private sectors, including Astaldi, Poste, Ilva, Telecom, and Wind. His previous positions include Chief Financial Officer at Poste and CEO of Gamenet, demonstrating his extensive leadership experience across diverse industries.

 

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Walmart Vriddhi Empowers Over 58,000 MSMEs Across India
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Walmart Vriddhi Empowers Over 58,000 MSMEs Across India
 

Surpassing its target of training 50,000 micro-, small-, and medium-sized enterprises (MSMEs) by December 2024, Walmart’s supplier development program, Walmart Vriddhi, has digitally empowered over 58,000 MSMEs across India. This retail initiative offers free digital training, business advice, and personalized mentorship, helping businesses unlock growth potential and improve customer access across India.

MSMEs are a cornerstone of India's economy, contributing over 30 percent to the country's GDP and generating millions of jobs. They drive innovation and growth, furthering India's entrepreneurial spirit. Launched in 2019 with Swasti as a partner, the Walmart Vriddhi program equips MSMEs with essential tools and knowledge, leveraging Walmart’s supplier development experience and Flipkart’s platform expertise. Over 14,500 MSMEs are now on the Flipkart marketplace, experiencing significant sales growth.

The program has supported a diverse range of MSMEs, including over 10,000 women-led businesses, young entrepreneurs, family-owned enterprises, and those focused on environmental sustainability. Many MSMEs are developing sustainable products such as toys, handicrafts, reusable sanitary pads, and diapers.

Highlighted here are stories of Walmart Vriddhi graduates employing sustainable practices:

  • Samakhya Sustainable Practices: Led by Prerna Agarwal, this enterprise combines natural fibers and green crafts to create sustainable alternatives. Collaborating with over 3000 artisans and farmers in remote areas, Samakhya empowers local communities and preserves traditional techniques, producing unique thermal and acoustic handcrafted products.
  • MohanJodero Handicrafts: Founded by Yashovardhan Sharma, this business revives India’s cultural heritage through brass handicrafts. Employing artisans with generational skills, Sharma uses digital marketing, SEO, and social media insights from Walmart Vriddhi to sell handcrafted products across India.
  • Ecoserve India: Anindita Chaudhuri’s brand focuses on reducing plastic pollution and using sustainable materials like kauna, shitalpati, bamboo, water hyacinth, areca leaves, and jute. Employing 30 artisans, 90 percent of whom are women, Ecoserve creates decorations, bags, baskets, and more, ensuring fair compensation for all artisans.

Jason Fremstad, Senior Vice President, Supplier Development at Walmart stated, "Through the Walmart Vriddhi program, we have seen incredible resilience in MSME graduates as they showcase their exceptional innovation and commitment towards making a positive contribution in their communities. We are thrilled to be part of their journey helping them grow, fostering inclusivity, and creating lasting impact."

Rajneesh Kumar, Chief Corporate Affairs Officer, Flipkart Group added, "The Walmart Vriddhi program has been instrumental in fostering a culture of growth among MSMEs in every facet of their businesses. By helping onboard thousands of MSMEs onto Flipkart marketplace as sellers, in line with our mission, we are happy to enhance their market reach, help them thrive in the e-commerce space, and contribute to their prosperity and business growth."

Joseph Julian, Program Director at Swasti, said, “It's encouraging to see how Walmart Vriddhi graduates have been able to integrate learnings into their business and benefit from the curriculum. Seeing many of them operate their businesses in a way that benefits their communities, and the environment has been gratifying.

The Walmart Vriddhi program continues to foster growth and innovation among MSMEs across India, ensuring their success in a competitive market.

 

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Retail India News: Felix Plaza Set to Open by Late 2024
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Retail India News: Felix Plaza Set to Open by Late 2024
 

Felix Plaza, the upcoming mall by Felix Realty, is scheduled to launch in the fourth quarter of 2024, according to a company announcement. Strategically located in Sector 82A on National Highway No. 48, this flagship project is set to become a premier shopping destination in Gurugram and the Delhi NCR region.

With a built-up area of approximately 8 lakh sq. ft., Felix Plaza will feature a wide range of high-end and leading fashion retail brands for men, women, and kids. The categories will include footwear, sports and leisure, ethnic wear, jewelry, and cosmetics. Additionally, the mall will house brands in hypermarkets and groceries, home décor and furnishing, travel, electronics, accessories, and other essential shopping categories.

So far, the mall has signed up brands such as Spencer’s, Wakefit, Marks & Spencer, Westside, Lifestyle, Fun City, Game X, Max, Zudio, Cinepolis, Forest Essentials, and Birkenstock. It will also include a food court with a seating capacity of over 600 and family entertainment zones like Fun City and Game X.

The mall offers robust parking solutions with over 1,000 parking spaces spread across three basement levels. For enhanced convenience, the concourse floor includes exclusive parking areas for electric vehicles (EVs) and designated parking spaces for women.

Felix Plaza has been designed to offer a comprehensive experience for visitors, seamlessly blending fashion, dining, and entertainment within a single venue. This lively and engaging community space is poised to emerge as a cherished hub for shoppers, diners, friends, and families in Gurugram and across Delhi NCR.

 

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Retail India News: TVS Electronics Brings EMS Capability at Tumakuru Facility
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Retail India News: TVS Electronics Brings EMS Capability at Tumakuru Facility
 

TVS Electronics Limited (TVS-E), a key player in India's electronics manufacturing sector, has inaugurated Electronics Manufacturing Services (EMS) at its advanced facility in Tumakuru, Karnataka, situated near Bengaluru.

The centerpiece of this expansion is the implementation of a state-of-the-art Surface Mount Technology (SMT) line, which sets new benchmarks in precision and flexibility. This technological upgrade underscores TVS Electronics' commitment to staying ahead in meeting the requirements of modern electronic devices. The Tumakuru plant offers a comprehensive range of solutions including PCB assembly, product testing, box building, and integrated supply chain services, reflecting TVS Electronics' holistic approach to customer needs.

Sathya Doraisamy, Chief Business Officer of TVS Electronics said, "The launch of Electronics Manufacturing Services (EMS) at our facility, equipped with advanced SMT technology, demonstrates our commitment to enhancing manufacturing capabilities and fostering innovation among our employees. It represents a significant stride in supporting the Make-in-India initiative and reinforces our position as a preferred partner for both domestic and international businesses. We are dedicated to keeping the innovation momentum strong."

Beyond its advanced manufacturing capabilities, the Tumakuru plant highlights TVS Electronics' commitment to sustainability. The facility is powered by a 400 KV solar plant, showcasing the company's dedication to environmentally responsible manufacturing practices and minimizing its ecological footprint.

This milestone underscores TVS Electronics’ steadfast dedication to innovation, operational efficiency, and sustainability in the field of electronic manufacturing services. TVS-E's range of world-class products, designed and manufactured locally in India, caters to the diverse needs of the Indian market while expanding its footprint in global growth markets. The company's client base includes Fortune 500 firms, prominent brands, and dynamic startups, reflecting its leadership in the electronics manufacturing sector.

 

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Retail India News: Marico Unveils Saffola Muesli with Flavour Pops
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Retail India News: Marico Unveils Saffola Muesli with Flavour Pops
 

Marico has launched Saffola Muesli with Flavour Pops, aiming to enhance its presence in the adult breakfast segment. Leveraging its strong brand equity in the retail market, Saffola has become India's No. 1 brand in oats and expanded into categories such as peanut butter and honey. The brand continues to innovate, meeting the evolving needs of consumers for convenient and exciting nutrition.

Saffola Muesli is now available in three flavors: Kesar Crunch, Berry Crunch, and Choco Crunch. These variants are designed to enhance the breakfast experience with flavors commonly associated with milk. The rich and aromatic kesar, fruity goodness of berries, and indulgent taste of chocolate aim to make breakfast enjoyable and satisfying.

Vaibhav Bhanchawat, Chief Operating Officer - India and Foods Business at Marico Ltd stated, "Our foray into the Muesli Category marks a significant milestone in line with our brand proposition of offering consumers ‘better for you’ products with a ‘taste first’ approach. While there is a growing need for products that deliver convenient nutrition, we also understand that consumers equally want their breakfast to be exciting and uplifting as it sets the tone for the rest of the day. We identified the opportunity to bring excitement and familiarity to a new-age category like Muesli, much like the success we have seen in making oats exciting through Saffola Masala Oats. The idea was to deliver consumer delight through our unique flavour pops format that gives a burst of flavour and an irresistibly crunchy experience. We believe these popular flavours launched under Saffola Muesli with Crunch Flavour Pops will help consumers ‘brighten up their mornings to take on the day.’

The new Saffola Muesli features Flavour Pops, ensuring it remains crunchy until the last bite. Made with a mix of multigrain and millet, these flavor pops add a unique twist. Each variant blends 15-in-1 fruits, nuts, seeds, millet, and more, making it a powerhouse of nutrition.

This launch underscores Marico's commitment to innovation in the retail sector and its focus on meeting the dietary needs of Indian consumers. Saffola aims to provide convenient and nutritious options that cater to diverse taste preferences while maintaining its legacy of quality and consumer satisfaction.

 

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Retail India News: Hansgrohe Group Targets 100 pc Paper Packaging by 2025
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Retail India News: Hansgrohe Group Targets 100 pc Paper Packaging by 2025
 

The Hansgrohe Group plans to switch to paper product packaging in Germany by the end of 2025, opting for recyclable cardboard and paper elements instead of plastic. This move supports the increasing demand for sustainability in the retail and manufacturing sectors in India and globally.

Leading this sustainability effort is Hansgrohe's Green Company team. Project manager Torsten Mayer explained, "It is our own motivation to apply the sustainability triad of Reduce, Reuse and Recycle to our product packaging. At the same time, more and more of our B2B and B2C customers are actively demanding this." This initiative is expected to save about 312 tons of plastic packaging annually at Hansgrohe's German manufacturing and logistics sites, particularly in protecting products like faucets and showers from scratches and damage during transport. Cardboard and paper substitutes will replace items such as flat bags, bubble wrap, chain bags, adhesive films, and cable ties."

Mayer noted, "We are currently still working on achieving a quota of 100 percent paper. That's why we are being completely transparent: as things stand today, we are still a few percent short of reaching our target in full. The reason for this is that although we now have paper alternatives for almost all products and surface variations, as well as side packs, these have not yet been fully implemented in the production process. In addition, as things stand, there are still some indispensable plastic components in packaging that cannot currently be replaced by paper due to their properties - only with recycled plastic."

In Germany, sales packaging is the largest contributor to plastic waste, generating about 1.5 million tons per year. Reducing plastic in packaging minimizes the risk of improper disposal and subsequent pollution of waterways with microplastics, which affect both humans and animals. For instance, a plastic bottle can take up to 450 years to decompose in the sea.

In addition to eliminating plastic in product packaging, Hansgrohe Group is also reducing the number of packaging sizes and variations to optimize transport and warehouse logistics.

Paper is highly recyclable, with paper fibers being reusable ten to 25 times. Europe has an efficient paper recycling cycle, with a 95.4 percent recycling rate. Conversely, plastic waste recycling in Europe is less organized, leading to significant amounts of plastic waste being shipped to third countries, often ending up illegally in the sea.

Hansgrohe supports initiatives to raise awareness about microplastic pollution, sponsoring swimming professor Andreas Fath, who highlights the vast quantities of microplastics in the world's oceans through his projects. Fath has swum the Rhine and Danube, and this year, he will swim the Elbe from its source to its mouth in the North Sea, accompanied by various water samples, students, and Hansgrohe.

This commitment to sustainability in retail packaging marks a significant step for Hansgrohe Group, reflecting its dedication to environmental responsibility and innovation.

 

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Retail India News: Sky Gold Ltd Acquires Starmangalsutra and Sparkling Chains
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Retail India News: Sky Gold Ltd Acquires Starmangalsutra and Sparkling Chains
 

Sky Gold Ltd, one of India's leading jewelry companies, has acquired Mumbai-based Starmangalsutra Private Limited and Sparkling Chains Private Limited. This acquisition enhances Sky Gold's market visibility and broadens its range of high-quality jewelry known for expert craftsmanship.

Starmangalsutra specializes in traditional and modern Mangalsutra jewelry, while Sparkling Chains focuses on chain jewelry made from gold, silver, and other metals. Sky Gold acquired full stakes in both companies for Rs 23.98 crore and Rs 26.00 crore respectively. The transaction will be completed by issuing 4,17,542 equity shares of Sky Gold at an issue price of Rs 1,197 per share to the current shareholders of both acquired companies.

Mangesh Chauhan, MD and CFO of Sky Gold Ltd stated, "The integration of Starmangalsutra and Sparkling Chains aligns with our growth objectives. These acquisitions are expected to enhance our margins through combined synergies. By consolidating operations, we are expanding our market and increasing our product presence in numerous retail outlets. Mangalsutras, which symbolize sanctity in Hindu tradition, have evolved into fashion statements, blending modern aesthetics with timeless Indian traditions. This acquisition will help us meet current demand and drive growth and innovation in our product portfolio."

Chauhan added, "We anticipate this strategic move to increase our consolidated EBITDA margin by 50-75 basis points from the current 4.4 percent in FY24 and boost our PAT margin to 3 percent from 2.6 percent within the next 12-18 months. Our revenue crossed Rs 1,745.5 crore in FY24, and with this acquisition, we plan to reach full capacity utilization within two years. We are confident of achieving our revenue target of Rs 6300 crore by FY27. We also expect to achieve economies of scale and reduce borrowing costs post-acquisition for the group."

This acquisition follows Sky Gold's record-breaking fiscal year with a more than two-fold increase in net profit and a move to a larger facility in Navi Mumbai. Starmangalsutra recorded a turnover of Rs 171 crore in FY24, while Sparkling Chains achieved Rs 200 crore. Sky Gold Ltd is currently overseeing the integration to ensure a smooth transition for all stakeholders involved.

 

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Retail India News: Amul Plans to Broaden Product Range in U.S. Market
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Retail India News: Amul Plans to Broaden Product Range in U.S. Market
 

The Gujarat Cooperative Milk Marketing Federation (GCMMF), which markets dairy products under the renowned Amul brand, is preparing to expand its product offerings in the U.S. market. This move follows the successful launch of fresh milk in collaboration with the Michigan Milk Producers Association.

Fresh products have a good demand (in the US and other overseas markets)… We would be soon expanding with other products like dahi, lassi buttermilk, cream and paneer,” said Jayen Mehta, Managing Director, Gujarat Cooperative Milk Marketing Federation Ltd (GCMMFL). 

In his address, Mehta also emphasized the pivotal role of milk in India's agricultural sector. He noted that milk has emerged as India's most significant agricultural crop, surpassing traditional staples like rice and wheat. Mehta projected that within the next decade, India will contribute to one-third of the global milk supply, underscoring the country’s growing influence in the dairy industry.

To cater to the dietary preferences of the Indian diaspora and the broader Asian community in the U.S., GCMMF has already launched four variants of milk. These products have been well-received, paving the way for the introduction of a wider range of dairy items.

And (we will be) soon expanding into Canada, we are looking at other markets of the world (as well). The federation is looking at expansion into every single category of the products,” Mehta added.

At the IMC AGM, Sanjaya Mariwala, President of the Indian Merchants’ Chamber, reiterated the Chamber’s dedication to policy advocacy. He assured that the IMC would continue to play a critical role in shaping industry responses and collaborating with the government to execute initiatives that benefit the sector.

With its robust expansion strategy, GCMMF is poised to enhance its footprint in the U.S. market and beyond, bringing a wider array of high-quality dairy products to consumers worldwide. This strategic initiative aligns with Amul’s mission to become a leading global player in the dairy industry while reinforcing its commitment to quality and innovation.

 

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Retail India News: Nikon India Unveils Z6III Mirrorless Camera with Advanced Features
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Retail India News: Nikon India Unveils Z6III Mirrorless Camera with Advanced Features
 

Nikon India Private Limited, a wholly-owned subsidiary of Nikon Corporation, introduced the highly anticipated Z6III camera in India at an event held at Eros Hotel, Nehru Place, New Delhi. Reinforcing its commitment to the full-frame mirrorless camera market, Nikon India aims to redefine videography and photography with this new release. The Z6III inherits features from the Z9 and Z8 models, such as in-camera RAW and N-Log videos and the EXPEED 7 processor, offering high-performance and industry-leading specifications. Developed with the world's first partially-stacked CMOS sensor and superior Auto Focus capability, the Z6III is poised to deliver exceptional performance.

The event in New Delhi saw the presence of Sajjan Kumar, Managing Director of Nikon India, and Keizo Fujii, Managing Director of Nikon Singapore PTE. LTD. The Z6III comes equipped with rich video specifications and the ability to capture still images at speeds up to 120 fps, making it a standout hybrid camera in its segment.

Sajjan Kumar commented, “We are thrilled to introduce the Z6III, a high-performance full-frame mid-segment camera that inherits the spirit of innovation from our esteemed Z8 and Z9 models. With its exceptional features and unrivaled performance, the Z6III is ready to redefine the videography and photography realm for professionals and enthusiasts. This compact professional camera features the world’s first-ever partially stacked sensor, making it one of the best inventions in imaging technology. Additionally, we have introduced the industry's first brightest Electronic View Finder (EVF) with a staggering resolution of 5.7M. The camera also offers superior video resolutions of up to 6K/60p, Full HD 240p, along with in-built N-Log and N-RAW support for high-quality video production. The new Nikon Z6III will become an integral tool for the creator community with its autofocus precision and the ability to freeze fleeting moments with blazing-fast 120fps Pre-Release Capture and an impressive 20fps continuous shooting rate.

Keizo Fujii added, “At Nikon, our passion for visual storytelling and relentless pursuit of innovation drives us. Aligned with our vision, we are excited to introduce the Nikon Z6III, an imaging masterpiece that exemplifies remarkable agility and readiness for action anytime, anywhere. Featuring the world's first partially-stacked CMOS sensor, we aim to redefine the boundaries of creativity, enabling videographers and photographers to capture moments that leave a lasting impact. We are dedicated to empowering individuals, fostering creativity, and inspiring photographers, filmmakers, and content creators across India.

The Nikon Z6III, powered by the lightning-fast EXPEED 7 processing engine, empowers users to capture fleeting moments with precision and clarity. Inheriting superior performance and functionality from Nikon's top-tier models, the Z6III excels in low-light conditions and backlit scenes. It can detect up to nine subject types, offering improved autofocus performance and enhanced AF accuracy. With its superior low-light performance and new functions that expand creative possibilities, the Z6III is the ideal partner for photographers and videographers ready to push boundaries and tell their stories with stunning visuals.

 

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Retail India News: Tramontina Launches in Mumbai with a Bang, Goes Omnichannel from Day One
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Retail India News: Tramontina Launches in Mumbai with a Bang, Goes Omnichannel from Day One
 

Tramontina, the globally-trusted houseware brand with a 113-year legacy of quality and innovation, has officially launched in India with an exclusive event in Mumbai. This significant milestone was marked by the presence of Tramontina's Global Chairman from Brazil, Eduardo Scomazzon, and the CEO of Tramontina US, Marcelo Borges. The event drew leading retailers, distributors, hospitality leaders, chefs, and influencers from across India, signaling Tramontina's commitment to the Indian retail market.

Eduardo Scomazzon, Global Chairman of Tramontina said, “Tramontina’s journey over the past century has been built on the pillars of quality, innovation, and a deep respect for tradition. At Tramontina, we are confident that our products have found their perfect new home. We are eager to become a trusted household name in India, enriching the culinary and home experience of every customer.

The launch event featured a culinary activity led by renowned chef Michael Swamy, who engaged guests with a quiz on knives and a dosa-making challenge. This interactive session showcased the superior functionality and versatility of Tramontina’s products, allowing attendees to experience firsthand the blend of innovation and legacy that the brand offers.

Marcelo Borges, CEO of Tramontina USA said, “Tramontina has seen tremendous success in the USA and other continents, where we have our presence, by committing to quality and understanding the unique needs of each market. Our ability to adapt and deliver in local markets has been key to our success, and we are dedicated to bringing the same commitment to India.

Aruni Mishra, CEO of Tramontina India shared, “We are excited to embark on this new journey with Tramontina, catering to the evolving needs of Indian households. With a focus on health, safety, and sustainability, Tramontina’s products are designed to enhance the cooking experience while ensuring a worry-free and toxin-free environment.

Tramontina’s retail strategy in India will be omni-channel, incorporating general trade, modern trade, e-commerce platforms, and the Tramontina India website to ensure widespread availability. The brand plans to introduce three cookware ranges focused on healthy cooking, including two triply ranges—'Aeion' and 'Fusåo'—and a redesigned cast iron range. Additionally, Tramontina will offer its renowned knives, featuring standout ranges like 'Century' and 'Polywood'.

In a strategic move to enhance its footprint in India, Tramontina announced plans to bring its cutting-edge manufacturing excellence to the country. This initiative aims to diversify the product offerings to meet the unique preferences of Indian consumers. Tramontina products will be available across various channels by the end of June, promising to redefine the culinary experience for Indian households.

 

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Retail India News: Flipkart Opens New Grocery Fulfillment Center in Jaipur to Meet Rising Demand
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Retail India News: Flipkart Opens New Grocery Fulfillment Center in Jaipur to Meet Rising Demand
 

Flipkart, India's leading e-commerce marketplace, has launched a new grocery fulfillment center (FC) in Jaipur, Rajasthan, enhancing its retail capabilities and commitment to consumer preferences. This is Flipkart's first grocery FC in the state, designed to meet the growing demand for online groceries with improved speed and serviceability.

By leveraging local consumer insights, the new facility will offer over 5,000 products, including staples, foods, beverages, snacks, personal care items, and household cleaning aids. The selection features popular local brands like Gainda, Saras, Gowardhan, Mahakosh, Rajdhani, Desi Choice, Laxmi Bhog, and Tagore, catering to the varied tastes of consumers in Rajasthan.

Rajasthan, with its large population and untapped e-commerce potential, represents a significant growth opportunity for Flipkart. The absence of quick commerce services further underscores the need for Flipkart's expansion in this region. Spanning 69,000 square feet, the Jaipur FC has a dispatch capacity of over 6,500 orders per day, serving Jaipur and neighboring cities such as Bikaner, Jaisalmer, Jodhpur, and Kota. The center will create over 600 direct and indirect job opportunities, boosting the livelihoods of small businesses, MSMEs, and local farmers in the area.

Manju Sharma, Member of Parliament, Jaipur said, “Flipkart's first grocery fulfillment center in Rajasthan is a significant milestone in our state's digital and economic growth. We are happy that Flipkart’s expansion in its supply chain infrastructure in the state will provide local consumers with faster and more convenient access to essential goods. At the same time, it will empower the local MSMEs and farmers, thereby uplifting the overall livelihood opportunities of the local ecosystem. I commend Flipkart for their commitment to enhancing our PM Shri Narendra Modi ji's vision of 'Digital India' by giving benefits of digital commerce and contributing to enriching the economy of our New Bharat.

Rajneesh Kumar, Chief Corporate Affairs Officer at Flipkart Group, said, “As a customer-first organization, Flipkart leverages its homegrown technology to keenly identify high-demand hotspots and address consumer needs for quality grocery products. The launch of our first grocery fulfillment center in Jaipur marks a significant advancement in our efforts to enhance delivery services and meet the growing consumer demand for online groceries in Rajasthan. As we continue to expand our footprint, the new FC aligns with our commitment to strengthening partnerships with local farmers, MSMEs and other local businesses. We remain committed to furthering our vision of empowering these communities economically and fostering sustainable growth while creating new livelihood opportunities.

Hari Kumar G, Vice President, Head of Grocery at Flipkart noted, “We have been witnessing significant demand for online groceries among local consumers of Rajasthan, which offers an opportunity to bridge the digital gap and make online shopping more convenient for consumers. With the launch of the new FC, consumers will now have access to a vast assortment of high-quality local and national selections at the right value at the delivery slot of their choice. We aim to address the needs of value-seeking consumers of tier ll and lll cities by elevating consumer satisfaction and improving the growth of the overall regional ecosystem.

Earlier reliant on the Dharuhera FC in Haryana, consumers in Rajasthan and surrounding areas will now benefit from quicker grocery deliveries. Customers can access services such as cash on delivery, pay later options, no-cost EMI, easy cancellation, and UPI-enhancing digital payments. These innovations focus on providing a seamless and convenient shopping experience. Features like voice-enabled shopping, regional language support, credit offerings, and open-box delivery continue to enhance Flipkart's grocery shopping experience, setting new standards for convenience and customer satisfaction in India's online retail market.

 

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Retail India News: Coca-Cola India Introduces 100 pc Recycled PET Bottles in Orissa
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Retail India News: Coca-Cola India Introduces 100 pc Recycled PET Bottles in Orissa
 

Coca-Cola India is taking a significant step towards promoting a circular economy with the launch of Coca-Cola in ASSP (Affordable Small Sparkling Package) using 100 percent recycled PET (rPET) in 250ml bottles, starting in Orissa. This initiative underscores Coca-Cola's commitment to sustainability and reducing its carbon footprint in the retail sector in India.

The bottles are produced by Hindustan Coca-Cola Beverages Pvt. Ltd. (HCCBPL), Coca-Cola's bottling partner. The use of rPET in ASSP packaging reduces emissions by 36 percent compared to conventional virgin PET packaging through the lightweighting of PET material. The shift to rPET further decreases the carbon footprint, resulting in a 66 percent overall reduction compared to non-ASSP packaging with virgin PET.

Alok Sharma, Executive Director, Supply Chain, Hindustan Coca-Cola Beverages (HCCB) said, "The introduction of recycled PET in ASSP is a crucial step towards plastic circularity, emphasizing a substantial reduction in the overall carbon footprint. This initiative aligns with our broader vision to scale up sustainable practices and lead the way in shaping a greener future for the beverage industry in India."

Enrique Ackermann, Vice President, Technical Innovation and Supply Chain, Coca-Cola India and Southwest Asia added, “Our efforts at expanding rPET in India is a testimony of our commitment to increase the availability of high-quality, food-grade, recycled plastic for consumers in India. With these eco-friendly bottles we seek to drive a circular economy for packaging, reduce waste and carbon emissions, bringing us closer to the World Without Waste goal of making bottles with 50 percent recycled content by 2030."

Coca-Cola offers 100 percent rPET bottles in over 40 markets globally. Through its World Without Waste initiative, the company aims to collect and recycle a bottle or can for every one it sells by 2030, make 100 percent of its packaging recyclable by 2025, and use at least 50 percent recycled material in its packaging by 2030.

 

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Mango Strengthens Homeware Line with New Leadership
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Mango Strengthens Homeware Line with New Leadership
 

Mango, one of Europe's leading fashion groups, is expanding its homeware line with the appointment of Nuria Font as the new Director of Mango Home. This move aims to further solidify its position as a major player in both the retail and fashion sectors in Europe and India.

Nuria Font, previously the Director of Mango's Wholesale Department, will assume her new role in June. Font holds a degree in Business Administration and Management from the University of Barcelona (UB), along with a PDD in Management from IESE Business School - University of Navarra, and a DIBEX (Digital Business Executive Program) from ISDI. She began her career as an auditor at KPMG and joined Mango in 2006 as a Product Manager in CPM (Commercial Product Management). Over nearly two decades, she has held various key positions within the company, including B2B Key Account Manager for the Asian and Middle Eastern markets, Head of the Wholesale Department, and Project Manager. Since 2017, she has led the wholesale franchise team.

Font's appointment aligns with Mango's new Strategic Plan 2024-2026, which aims to enhance Mango Home's value proposition through aspirationalism, quality, and individual style. This strategic shift is expected to bolster Mango's homeware line and reinforce its market position.

Nuria Font succeeds Laura Vila, who will be pursuing new professional opportunities after seventeen years with Mango, during which she led the launch of the Mango Home line. The company has expressed its gratitude for Vila's dedication and contributions over the years and wishes her success in her future endeavors.

 

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AWWG and G-III Apparel Group Announce Strategic Partnership to Enhance Global Growth
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AWWG and G-III Apparel Group Announce Strategic Partnership to Enhance Global Growth
 

Leading global fashion group AWWG has announced a new strategic and investment partnership with G-III Apparel Group, acquiring an approximate 12 percent ownership stake in AWWG. This partnership aims to enhance the growth and priorities of AWWG’s iconic brands: Pepe Jeans London, Hackett, and Façonnable. This collaboration emphasizes retail and India as key elements of their growth strategy.

Under the partnership, AWWG will act as the agent for DKNY, Donna Karan, and Karl Lagerfeld across Spain and Portugal. AWWG will leverage its significant expertise to unlock these markets for G-III’s brands, maximizing the European growth opportunity. Additionally, G-III plans to leverage AWWG’s strong presence in India to expand its key brands in this market. Conversely, AWWG will benefit from G-III’s operations in North America to expand its brands and footprint in the USA.

With over three decades of industry experience, three owned brands, and the PVH Iberia Agency, AWWG is committed to ongoing evolution through transformative strategies and enhancing brand equity. This strategic partnership is driven by the visionary leadership and business expertise of CEO Marcella Wartenbergh, positioning AWWG as a robust fashion group in the industry.

Marcella Wartenbergh, CEO of AWWG declared, “We are excited and proud to announce this partnership to manage in Iberia DKNY, Donna Karan and Karl Lagerfeld which will enrich our portfolio and strengthen our AWWG platform. This partnership results from an agreement built in mutual trust with G-III and the common brand and product vision to represent and grow both brands leveraging our Group’s expertise in the Iberian market, marking a key moment in our growth journey.

Carlos Ortega, Chairman of the Board and Founder of AWWG stated, “We are thrilled to welcome G-III to the AWWG family and are convinced this strategic partnership will be mutually beneficial for both groups given the complementary brands and market expertise. There is no doubt G-III can add tremendous value in helping us grow in the North American market, whilst at AWWG we will leverage our local expertise and knowledge of the European (especially Spanish and Portuguese) and Indian markets to realize the high growth potential of the G-III brands in these markets.

Morris Goldfarb, G-III’s Chairman and CEO said, “This exciting partnership with AWWG helps us accelerate several of our strategic priorities. It allows us to invest in a company with iconic brands meaningfully and represents a sizable international presence with a strong infrastructure and talented leadership team that will benefit our efforts to scale our European business. At the same time, we look forward to supporting AWWG’s overall growth and advancement of their brands here in North America.

 

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Retail India News: Whirlpool India Partners with HUL to Promote Surf Excel
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Retail India News: Whirlpool India Partners with HUL to Promote Surf Excel
 

In a strategic move aimed at fortifying their presence in the laundry care segment, Whirlpool of India and Hindustan Unilever Ltd (HUL) have unveiled a new collaborative marketing alliance focusing on Surf Excel, the flagship laundry brand under HUL's umbrella.

This groundbreaking partnership between two industry giants entails a series of joint marketing initiatives designed to amplify the reach and impact of Surf Excel across the Indian market. By pooling their expertise and resources, both brands aim to unlock new avenues for growth and innovation in the laundry care sector.

According to a joint statement issued by Whirlpool of India and HUL, the alliance will not only facilitate the convergence of cutting-edge technologies from both entities but also pave the way for the development of advanced solutions that promise superior fabric care. Leveraging the synergies between mechanical, thermal, and chemical actions, the collaboration seeks to revolutionize the process of stain removal, thereby elevating the overall laundry experience for consumers.

Kumar Gaurav Singh, Vice President-Marketing, at Whirlpool of India said, “Our partnership is an opportunity to leverage our combined strengths — the coming together of superior mechanical action, thermal action and chemical action to deliver expertise in the removal of stubborn stains.”

Srinandan Sundaram, Executive Director, Home Care, at Unilever stated, “Our goal is to provide convenience and innovation to households across India, making laundry routines easier and more effective.”

With consumer convenience and innovation at the forefront, the partnership between Whirlpool of India and HUL signifies a significant step forward in the evolution of the laundry care industry. As both entities embark on this collaborative journey, they remain steadfast in their dedication to delivering transformative solutions that enrich the lives of consumers nationwide.

 

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{Funding Alert} Home Décor Brand Trampoline Bags $5M Funding
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{Funding Alert} Home Décor Brand Trampoline Bags $5M Funding
 

Trampoline, a burgeoning cross-border B2B Home Décor brand, has announced the conclusion of its $5 million seed funding round. Spearheaded by leading investment firms Matrix Partners India and WaterBridge Ventures, the round also saw significant participation from Alteria Capital, contributing an additional $2 million in venture debt.

The infusion of capital marks a pivotal moment for Trampoline, empowering the company to fortify its supply chain and sourcing capabilities, drive innovation in new product development, and assemble a robust early team.

Trampoline embarks on a bold mission to revolutionize access to design-led home décor for independent retailers, who collectively represent over 70 percent of the $800 billion global Home & Living market. Promising a comprehensive end-to-end experience, Trampoline aims to democratize tools typically reserved for major retailers, including minimal or no minimum order quantities, favorable payment terms, and personalized curation services.

By capitalizing on the prevailing macroeconomic trend of "China+1" within the industry and capitalizing on the consumer shift towards artisanal, design-centric products, Trampoline endeavors to establish extensive supply chains across manufacturing hubs in India and Southeast Asia.

Founded in December 2023 by Abhik Ghosh, Anushka Mahanti, and Varun Deo, former executives at prominent firms such as Amazon, Wayfair, and Arla Foods, Trampoline boasts a leadership team with over four decades of combined experience across category management, supply chain logistics, marketing, and product development. 

We’re obsessed with delivering the best product quality while reducing lead times for customers. Owning quality control end-to-end, with robust  factory audits and inspections ensures there are no compromises on standards. Our efficient consolidation at source enables higher flexibility and lower MOQs for customers, while our warehousing in India and the UK allow us to manage and replenish stock with agility,added Varun Deo, Co-founder and COO, Trampoline

Anjali Sosale, Partner at WaterBridge Ventures commented, “Trampoline dismantles traditional barriers to scale - heavily intermediated supply chains, opaque pricing, and lack of quality assurance - and enables independent retailers to diversify their supplier base and access exclusive product catalogues. India is one of the world's largest exporters of home decor products, exporting over $10B annually and predominantly led by SMEs. Trampoline provides these SMEs with access to global demand through its full-stack, design to delivery approach. As Trampoline's first institutional investment partner, we are privileged to work with the founding team - Anushka, Abhik, and Varun. With over a decade of leadership experience in cross-border commerce and a keen focus on operational excellence, they are well-positioned to succeed in this market and make Trampoline, a B2B brand of choice for global retailers.” 

Following its triumphant launch in the UK in February 2024, Trampoline has witnessed an unprecedented surge in demand, with over 1,500 units ordered within the initial months. Independent retailers and interior designers alike have embraced Trampoline's vision of bridging the gap between manufacturers and storefronts.

Abhik Ghosh, Co-founder & CEO, Trampoline said, “Most of the magic happens at the factory shop floor and the point-of-sale. But the industry and value chain has remained archaic. Trampoline’s tech play aims to provide independent retailers the data and personalization to efficiently curate for their stores, while equally deploying tech enabled QC/QA and supply chain solutions for our manufacturer partners. In the process, truly helping both sides to Trampoline-up to consumer demand”. 

Anushka Mahanti, Co-founder & CCO, Trampoline remarkedWe’re building a design-led B2B brand, which is a departure from the traditionally commoditised, low-value trading, export model. Combining India’s endemic raw materials and craftsmanship, with a global design language, we’re making data driven decisions on catalogue breadth, depth and forecasting, enabling Trampoline to cater to global businesses at scale. Design speaks volumes, pun intended, and we already see this play out with sophisticated global retailers.” 

Sudipto Sannigrahi, Managing Director, Matrix Partners India shared, “We, at Matrix, are privileged to partner with Abhik, Anushka and Varun as they leverage their multi decade experience in home décor to build Trampoline. We are big believers in the India to the world manufacturing story and feel the time is ripe to disrupt cross border supply chains in areas such as home décor where India has an inherent design and supply advantage. With a strong customer backward design sensibility and a fully digitized supply chain, Trampoline is uniquely positioned to solve for key pain points around discoverability, quality, and reliable supply of products, for home décor retailers globally.”

 

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