Sports brand PUMA has appointed Prabhdeep S Bedi as Director and Head of D2C e-commerce in India. He will further accelerate PUMA India’s digital transformation journey and will be responsible for leading the D2C e-commerce business and the entire value chain of operations, cataloging, technology, account management, and customer experience.
He will report to Abhishek Ganguly, Managing Director, PUMA India, and Southeast Asia.
Commenting on the appointment, Abhishek Ganguly, Managing Director, PUMA India, and Southeast Asia, said, “Prabhdeep brings a strong track record of driving growth-oriented strategies. I am confident that Prabhdeep, with his knowledge and understanding of the e-commerce space coupled with his effective leadership style, will significantly contribute to our growth. His digital-first approach towards business will further help build the next phase of PUMA’s e-commerce journey in India. We are thrilled to welcome him to the PUMA family.”
He brings with him 13 years of rich and diverse experience in various domains like education technology, FMCG, and consulting. In his previous role, he was the Chief Operating Officer with Toppr Technologies Pvt Ltd for 5 years. Prior to that, he has worked with McKinsey & Company in their Chicago office and Procter and Gamble India.
Talking about his new role, Prabhdeep said, “It’s commendable to see how PUMA has strengthened its foothold in the Indian market in such a short span. The rate at which e-commerce is growing in the country is unimaginable and I am really looking forward to driving strategic innovation initiatives for the brand, keeping in mind the heightened digital awareness of the new-age consumers of today. I am absolutely thrilled to join the team at such an exciting phase in the company’s growth trajectory.”
Colgate-Palmolive (India) Limited has announced robust financial results for the quarter ending September 30, 2024, marking a 10 percent year-on-year increase in topline growth, with domestic revenues up by 10.5 percent. Net sales rose to Rs. 1,609.2 crore from Rs. 1,462.4 crore in the same period last year, showcasing steady growth across the entire product portfolio.
The company reported a net profit after tax of Rs. 395.1 crore in Q2 FY25, reflecting a 16.2 percent growth over Q2 FY24’s Rs. 340.1 crore. This increase includes a one-time credit from interest on income tax refunds received during the quarter. Advertising expenditure also surged by 17.8 percent, underscoring Colgate’s enhanced investment in both brand promotion and category development initiatives, while continuing to prioritize superior product offerings.
Prabha Narasimhan, Managing Director & CEO, Colgate-Palmolive (India) Limited said, “We are pleased with the robust, consistent topline performance in a tough operating environment. This has been led by broad-based growth across portfolios. Toothpaste achieved high-single-digit volume growth on the back of our core brands- Colgate Maxfresh and Colgate Strong Teeth. Toothbrush continued to grow at double digits with rapid premiumization. We expect continued difficult market conditions but remain committed to leverage our very strong P&L which allows us to continue to invest behind superior products and advertising while we maintain our focus on ensuring better oral health for everyone in India.”
Prabha further added, “This was a big innovation quarter with the launch of Colgate Visible White Purple, a product that uses color theory and builds on our growing whitening business. The early response has been excellent. In addition, we aired new communication on our flagship global offering - Colgate Total. With its patented Dual Zinc and Arginine Technology, Colgate Total offers the best everyday protection and is the cornerstone of our premiumization strategy. Colgate Strong Teeth saw new advertising, built on the very relevant insight for today of increased snacking leading to increased loss of calcium, and Colgate Strong Teeth with its arginine + calcium boost builds back this lost calcium.”
In line with its commitment to improving oral health across India, Colgate’s Bright Smiles, Bright Futures (BSBF) program achieved key milestones this quarter. The initiative partnered with the governments of Uttar Pradesh and Goa to extend its in-school program, aiming to raise oral health awareness among over 2 crore children in Uttar Pradesh and over 2 lakh children in Goa.
The Board has declared a First Interim Dividend of Rs. 24 per equity share of face value of Re. 1 for the Financial Year 2024-25. The total dividend payout of Rs. 653 crore will be distributed on or after November 21, 2024, to shareholders listed in the Register of Members as of November 4, 2024.
Diageo India (United Spirits Ltd.), a key player in the country's alco-bev sector, launched its third annual ESG Reporting Index for 2024, marking significant strides in its "Spirit of Progress" ESG action plan. This year’s report details Diageo India’s progress toward three primary goals: advancing grain-to-glass sustainability, promoting responsible drinking, and fostering inclusion and diversity. These initiatives are rooted in Diageo’s commitment to ethical business practices and meaningful impact.
The 2024 Reporting Index aligns with the Global Reporting Initiative (GRI) Standards and maps Diageo India’s performance against the UN Sustainable Development Goals (UNSDGs). It also includes sector-specific disclosures under the Sustainability Accounting Standards Board (SASB) framework, showcasing Diageo’s transparency and dedication to rigorous reporting standards.
Hina Nagarajan, Managing Director & CEO, Diageo India said, “As we release our 2024 ESG Reporting Index, I’m proud of the remarkable progress we’ve made under our ‘Spirit of Progress’ action plan. We are committed to leading the way in grain-to-glass sustainability, fostering positive drinking, and championing inclusion and diversity throughout our operations and communities, with an unwavering allegiance to doing business with integrity. We will continue to lead with purpose, leveraging our scale and working collaboratively with partners to drive meaningful impact and sustainable growth.”
One of the report’s standout achievements is Diageo’s grain-to-glass sustainability efforts, which include innovations in water conservation and renewable energy. The company has seen impressive improvements in water efficiency and created significant water replenishment capacity, surpassing its initial targets well ahead of schedule. Diageo’s Alwar distillery in India also achieved the esteemed Alliance for Water Stewardship (AWS) certification, making it the first distillery in Asia to earn this recognition.
Another key focus for Diageo India is climate action, which aligns with UN SDG goals. Diageo India has eliminated coal from its distilleries, achieving an 87 percent reduction in greenhouse gas emissions since 2020. These efforts support its goal of net-zero carbon emissions by 2030.
The company also promotes positive drinking through extensive programs aimed at curbing underage drinking, raising awareness of responsible consumption, and educating consumers about the dangers of drink-driving. Over 4 lakh consumers have participated in its "Wrong Side of the Road" program, which aims to reach a million people by 2030.
Diageo’s commitment to inclusion and diversity is evident in its workforce and community programs. Women make up 50 percent of Diageo India’s Executive Committee, and the company actively supports the LGBTQIA+ community and individuals with disabilities through various programs. Diageo’s inclusive approach earned it the Gold Employer status for LGBT+ inclusion and a place on Equileap’s Gender Equality Report for Emerging Markets.
The company’s governance practices underscore its commitment to ethical operations, with independent directors leading key committees and a comprehensive structure in place to drive ESG objectives.
With its third ESG Reporting Index, Diageo India demonstrates its unwavering commitment to a sustainable and inclusive future, setting benchmarks in the alco-bev industry and beyond. The 2024 report highlights the company’s resolve to balance growth with positive social and environmental impact, ensuring a lasting contribution to Indian communities and the global sustainability agenda.
Overlays, one of the most aspirational men's wear brands in the fashion industry, is thrilled to announce the official launch of its highly anticipated winter collection, "Ember: Steel Winter '24." This bold and creative collection is designed for those who value both warmth and resilience in the colder months. Inspired by the fierce elements of fire, Ember Steel represents more than just winter fashion; it's a mindset that channels raw power, strength, and unyielding spirit.
Featuring a striking collection of over 35+ jackets, Ember Steel Winter '24 blends streetwear aesthetics with exceptional Indian craftsmanship. Each piece is carefully crafted with unique paisley design prints, intricate hand and machine embroidery, zardozi, and art work. The collection also showcases a range of washing techniques, making every jacket a true work of art tailored for the adventurous, fashion-forward individual who enjoys pushing boundaries with their style.
The launch of the collection was marked by a groundbreaking runway fashion show, a first-of-its-kind event in the creator economy. The show featured more than 13 models, each wearing pieces from the collection, while the international-level art direction set the stage for a visually stunning experience. The immersive sound engineering took the audience on an unforgettable journey, perfectly complementing the artistry of the Ember Steel collection and its powerful narrative.
Shlok Srivastava Founder and CEO, Overlays Clothing shared, “This event celebrates the fusion of fashion, technology, and digital creativity. We are not just unveiling a collection, but we are also igniting a movement that recognizes the significant influence of the creator economy in shaping the future of high fashion. The Ember Steel collection is designed to meet the needs of modern consumers, blending functionality with cutting-edge design. Whether braving the elements or making a bold fashion statement, these jackets are crafted to ensure both style and performance.”
Looking to the future, Overlays is committed to continuously evolving its offerings. The company plans to introduce seasonal updates incorporating current fashion trends, along with additional accessories to complement the jackets. Sustainability will also play a key role in the brand's future, with a significant focus on exploring eco-friendly materials and practices. The brand also aims to engage with its community through events and pop-up experiences in major urban cities, providing fans with exclusive access to the collection while celebrating creativity, innovation, and design. These experiences will also serve as platforms for aspiring designers and influencers to showcase their talent.
With the Ember Steel Winter '24 collection, Overlays is once again pushing the boundaries of fashion, design, and technology, setting the stage for a new era of fashion that embodies strength, innovation, and the unbreakable spirit of fire.
Reliance Retail’s Tira, India’s leading destination for beauty enthusiasts, is proud to announce the exclusive launch of Youth To The People (YTTP) in India. As the exclusive distributor, Reliance Retail will introduce the highly popular pro-grade, vegan skincare brand from California to Indian consumers through Tira. Known for blending potent superfoods with science-driven formulations, YTTP has garnered a massive global following, particularly on platforms like TikTok, where fans rave about its transformative, high-performance results.
The launch of Youth To The People in India represents a significant milestone in the brand’s journey, expanding its reach to a growing community of conscious beauty consumers. This exclusive partnership with Reliance Retail brings YTTP’s unique offerings to a market that increasingly seeks vegan, cruelty-free, and effective skincare solutions.
Founded in 2015 by Greg Gonzalez and Joe Cloyes, Youth To The People combines professional skincare expertise with a commitment to conscious innovation. The brand is best known for its standout products, such as the iconic Superfood Cleanser, which has become a trusted choice for consumers who prioritize ethically crafted, science-backed skincare solutions.
More than just a skincare brand, Youth To The People is dedicated to driving positive social change. Through its Good To The People fund, the brand supports initiatives focused on climate action, gender and racial equity, and human rights. The collaboration with Tira aligns perfectly with YTTP’s broader commitment to purpose-driven business and community-building on a global scale.
The launch of Youth To The People in India is not just a milestone for Tira but also a step forward for the beauty industry, as consumers demand more from the brands they support. With its focus on superfoods, scientific formulations, and ethical practices, YTTP is set to captivate a whole new generation of beauty enthusiasts in India, ushering in a new era of conscious skincare.
Allied Blenders and Distillers Limited (ABD), India’s third-largest spirits company, has officially entered the luxury spirits market with the launch of ARTHAUS Blended Malt Scotch Whisky. This premium offering debuted in Mumbai, with plans to roll out across key markets during the festive season.
Blended Malt Scotch Whisky is gaining traction as a distinct category, setting itself apart from traditional Blended Scotches and Single Malts available in India. As the name suggests, a Blended Malt is crafted exclusively from a selection of different Single Malts. ARTHAUS is a unique collective blend, specially curated by ABD’s Master Blender and featuring premium Single Malts sourced from the Scottish Highlands and Speyside.
The brand name, ARTHAUS, draws inspiration from the world of art, particularly echoing the geometric minimalism of the Bauhaus movement. Its brand identity integrates artistic techniques such as drip art, reality-to-abstraction transitions, and textures achieved with palette knives and mixed media. ARTHAUS further incorporates multi-dimensional technology to enhance its artistic expression, embodying the philosophy that blending exceptional whisky is an art form.
Bikram Basu, Chief Innovation and Strategy Officer, ABD said, “ARTHAUS is an exceptional Blended Malt Scotch. It’s ‘Art Bottled’. This journey of ARTHAUS has been a joyful experience. The discoveries in the art of blending and the World of Art in terms of form, expressions, and cultures have been engrossing. This brand will make curious minds experience it, love it, and advocate for it.”
Alok Gupta, Managing Director, Allied Blenders and Distillers Limited commented, “ARTHAUS is a significant move from ABD to enter the luxury portfolio. It gives the consumers a product that is curated from a collective of the finest Single Malts. This Blended Malt Scotch is a key addition to our premiumization plan and a higher margin portfolio. With Zoya Special Batch Gin, the recent announcement of Russian Standard Vodka, and now ARTHAUS Blended Malt Scotch we are building our luxury portfolio.”
ARTHAUS Blended Malt Scotch Whisky is priced at an MRP of Rs. 4,800 for a 750 ML bottle. Currently available in Mumbai and Pune, ABD has plans to introduce the product in other key markets, including Haryana, Uttar Pradesh, Chandigarh, and West Bengal, in the near future.
In the heart of Gurgaon, Sobé Decor has unveiled its latest sanctuary of refined living, blending timeless design with exquisite craftsmanship. Known for its high-quality home décor and tableware, Sobé Decor has launched its newest store in Gurgaon, inviting patrons to immerse themselves in an experience of luxury curated just for them.
Located on Grand View Street in Sector 58, the boutique spans over 400 sq.ft. and offers a curated selection of top-tier décor and tableware from prestigious brands like Noritake, Bugatti, Gloss, and more. Unlike larger retail outlets, this exclusive space is designed to present only the finest collections, catering to the refined tastes of the Gurgaon clientele.
Inside Sobé Decor’s Gurgaon store, visitors are greeted by an array of stunning collections, including the Gloss crystal series from Norway, a distinctive blue porcelain line, and the Magnolia kitchen accessory collection. Each piece—whether it’s a finely crafted porcelain teacup or a silk throw adorned with intricate patterns—embodies the meticulous craftsmanship and commitment to quality Sobé Decor is known for.
"We have chosen this vibrant city as our next destination, recognizing Gurgaon's rapid growth and its status as a hub for premium lifestyle experiences. Our prime location, amidst renowned brands and upscale markets, perfectly complements the sophistication and elegance of Sobé Decor,” commented Nivedita Jagadeesh, Founder, Sobe Decor.
With a legacy dating back to 1999, Sobé Decor has brought renowned brands like Noritake, Bugatti, Falkenporzellan, Gloss, Tarii, Chinelli, and Samura to the Indian market. To make luxury more accessible, Sobé Decor extends its reach beyond Chennai, Bangalore, and Hyderabad with an online presence on Tata Cliq Luxe and Amazon, allowing customers to explore their offerings from the comfort of their homes.
Visit Sobé Decor’s new Gurgaon store today to transform your living space into a masterpiece of elegance and luxury.
Muralikrishnan B, President of Xiaomi India, has announced his resignation from the company. He is stepping down to pursue an executive doctorate in management and will serve in his current role until the end of this year.
Following his departure, Muralikrishnan will continue supporting Xiaomi India as an independent strategic advisor, according to the company. Muralikrishnan joined Xiaomi India in 2018, initially serving in various roles, including Chief Operating Officer, before becoming President in 2022. Throughout his tenure, he significantly strengthened Xiaomi India’s brand presence, led strategic initiatives across teams, and managed critical public affairs efforts.
“Under Murali’s leadership, Xiaomi has seen exceptional success in India, continuing to be a key player in the technology landscape and connecting millions to innovative products. We deeply appreciate his contribution, and our commitment to India’s growth journey remains stronger than ever,” said Adam Zeng, Senior Vice-President, Group and President of the International Business Department.
In recent months, Xiaomi India has made several senior-level appointments to bolster its leadership team. Former Samsung senior executive Kunal Agarwal joined as the deputy sales head to enhance offline retail growth, while Sudhin Mathur, formerly the managing director of Motorola and Lenovo, was appointed as Chief Operating Officer in September 2024.
"Sudhin Mathur, with over 30 years in the industry, will continue to guide key functions as COO. Key leaders, including Sameer Rao (CFO), Varun Madan (CPO), and Anuj Sharma (CMO), will further strengthen Xiaomi’s focus on high-quality technology experiences and its ambitious vision for the next decade,” added Adam Zeng.
Xiaomi India rose to the second position in terms of smartphone volumes shipped in the July-September quarter, attributing its growth to a balanced approach across offline and online retail channels.
Muralikrishnan B shared, “My experience at Xiaomi India has been one of the most fulfilling chapters of my career. The values of sincerity and passion that Xiaomi embodies have been central to our journey. I am immensely proud of what we have accomplished together in such a dynamic market. I am grateful to Xiaomi’s leadership for their guidance, to my peers and team members for their support, and to our partners and Xiaomi fans who have been integral to our success.”
Pepperfry, the leading e-commerce platform for furniture and home decor, has announced the appointment of Shubbam Sharrma as its new Chief Growth Officer. With over 17 years of expertise in retail, e-commerce, and omnichannel strategy, Shubbam has a strong track record in driving strategic growth and leading high-performance teams across industries.
In his new position at Pepperfry, Shubbam will lead the company’s growth strategy, with an emphasis on expanding market share, advancing customer acquisition, and optimizing operational efficiency. His role will focus on significantly expanding the home categories, introducing new segments, and scaling the B2B sector through initiatives like a multi-tiered channel partner program and exploring new B2B avenues in hospitality and corporate sectors.
Ashish Shah, co-founder and chief executive officer at Pepperfry said, “We are delighted to welcome Shubbam to the Pepperfry family. His extensive experience in driving growth in retail, coupled with his deep understanding of the consumer landscape, makes him the ideal leader to spearhead our next phase of expansion. We are confident that Shubbam’s vision and expertise will be instrumental in solidifying Pepperfry’s position as the undisputed leader in the furniture, mattress, and home décor market.”
Shubbam Sharrma, chief growth officer, Pepperfry said, “I’m thrilled to be part of Pepperfry during this exciting phase of its growth journey. For anyone looking to buy furniture, Pepperfry has become the go-to destination. Our aim would be to further enhance this segment with tech-driven innovation and omnichannel integration to complete more and more customer journeys and make the business funnel more efficient. By fostering content and community engagement, we will democratize access for D2C entrepreneurs, helping to bring the best-curated collections to our customers.”
“Our vision is to blend new-age and legacy brands, creating a one-stop destination for all things home—truly the best of both worlds. Furthermore, we see immense potential in the B2B segment, particularly in building a curated platform for architects and interior designers to meet their discerning clients' needs. As any B2B client setting up a workspace requires extensive furniture and decor, we are committed to developing efficient channels to serve this segment effectively. Together, we will set new benchmarks for customer-centricity, operational excellence, and innovation,” added Shubbam Sharma.
Prior to joining Pepperfry, Shubbam served as Chief Business Officer at ImpactGuru, where he led growth initiatives across multiple cities and optimized operations, marketing, and HR. At CarDekho, he strengthened the used car retail division as the head of P&L for used cars. Shubbam also worked in consulting roles at KSA Technopak and RedSeer, where he advised companies on growth strategies, digital transformation, and market expansion. He began his career at Godrej and also co-founded a D2C fashion brand specializing in ethnic wear.
Shubbam holds an MBA from IIM Lucknow and a B.Tech from the College of Engineering Roorkee.
DECATHLON, the world’s leading sports retailer, has launched the RunRide 100, one of India’s lightest and safest balance bikes for toddlers, on Children’s Day. Designed to help young children seamlessly transition from walking to riding, the RunRide 100 reflects DECATHLON’s dedication to encouraging kids to explore the joy of movement and develop essential motor skills, balance, and coordination.
The RunRide 100 is more than just a bike; it’s a tool for young children to build confidence and physical coordination while enjoying their first experience with two wheels. Proudly designed and manufactured in India, the bike meets the Bureau of Indian Standards (BIS) safety regulations IS 9873 as well as the European EN-71 toy standard, ensuring both quality and safety. Unlike traditional bikes with pedals, the RunRide 100 emphasizes balance, allowing children to gain control of their movements with ease. This approach fosters agility and empowers kids to feel a sense of accomplishment early on.
"As part of DECATHLON’s long-standing commitment to fostering community and making sports accessible to everyone, the RunRide 100 reinforces the brand's belief in inspiring everyone to embrace a lifelong love of activity. This bike not only makes learning to ride fun and intuitive for kids but also aligns with our brand's goal of encouraging a healthy, active lifestyle from a young age," said Raghu Rao, Mobility Ecosystem Leader at Decathlon Sports India.
"This product offers children a fantastic opportunity to develop both physical and cognitive skills, all while enjoying the adventure of movement, exploration, and autonomy," said Prajval Ray, Cycling Leader at Decathlon Sports India.
The RunRide 100 is priced at Rs. 3,999 and features puncture-proof foam tires, a 3.2 kg frame for easy handling, and an adjustable design to accommodate toddlers from 85 cm to 105 cm. With a smooth, low step-over frame, kids can hop on and off independently, preparing them for more advanced biking skills without needing training wheels. Parents can enjoy peace of mind, as the RunRide 100 requires minimal maintenance and ensures a safe, seamless riding experience.
DECATHLON recommends that children wear protective equipment, including helmets and pads, to promote safe riding habits from the start. Through the RunRide 100, DECATHLON brings together its expertise in sport and movement to help children enjoy the thrill of their first bike and begin their journey toward an active, healthy lifestyle.
Raymond Ltd, a prominent player in the fashion sector, has released its financial results for the second quarter of the current fiscal year, revealing a substantial 63 percent decline in consolidated net profit. The company's net profit stood at Rs. 59.01 crore, a significant drop from Rs. 161.16 crore reported during the same period last year.
Despite this downturn in profitability, Raymond Ltd experienced a notable increase in total income, which rose to Rs. 1,100.70 crore for the July-September quarter. This figure marks an impressive growth compared to the Rs. 512.35 crore recorded in the corresponding quarter of the previous fiscal year, according to a regulatory filing.
The company’s performance reflects a mix of challenges and opportunities in a competitive market. Gautam Hari Singhania, Chairman and Managing Director of Raymond Ltd, shared insights into the company's outlook, stating, “We witnessed good momentum both in real estate and engineering businesses.” His comments suggest that while net profit has declined, there are underlying strengths within the company's operational segments.
Gautam Hari Singhania, Chairman & Managing Director, Raymond Ltd said, “We witnessed good momentum both in real estate and engineering businesses. “With the launch of Park Avenue- High Street Reimagined, the first-of-its-kind retail space in Thane, Raymond Realty has taken another pioneering step to create the aspirational ecosystem for its current and upcoming residential projects. The project execution remains our USP as we endeavor to continue to deliver before RERA timelines.”
Overall, while Raymond Ltd faces challenges reflected in its profit margins, the company continues to pursue growth opportunities through innovative projects and strategic investments in its real estate and engineering divisions.
Bata India Limited, a prominent footwear brand, has released its financial results for the quarter ending September 30, 2024. The company reported revenue from operations of Rs. 8,371 million, marking an increase from Rs. 8,191 million in the previous quarter. Operating profit for this quarter was Rs. 524 million, demonstrating the company's resilience and operational effectiveness. These results underscore Bata's ongoing transformation journey, driven by strategic investments in product innovation, enhanced customer experiences, technology integration, and brand premiumization, which are positioning the company for future growth.
Gunjan Shah, MD and CEO - Bata India Limited stated, “Despite continuing market headwinds and subdued consumption, we saw some recovery in our growth trajectory through the quarter backed by focused execution of strategic initiatives. We are seeing strong validation of our premiumization strategy across channels, with premium products showing robust growth and increased contribution to our revenue mix. Our Brand stories connected well with the targeted audience. Our expansion through franchise stores in Tier III and IV markets, combined with our robust digital presence, is helping us tap into new growth opportunities with a strengthened omnichannel approach. Our conscious efforts on Franchise model expansion are showing good results. Cost efficiency remains a cornerstone across all operations including manufacturing facilities.”
He further added, “We continue to maintain a balanced approach between managing near-term challenges and investing in long-term growth drivers. We are optimistic about consumption recovery in the coming quarters, backed by festive season momentum and our strong market positioning.”
Key highlights of Q2FY25 results are: Expansion of the retail network, now comprising 1,955 company-owned and franchise stores, Renovation of 48 stores this year, enhancing the customer experience with stylish and technological upgrades, Improvement in Net Promoter Score (NPS) to 80, Introduction of the Pujo Glam Collection ahead of the festive season.
KorinMi, India's first professional Korean beauty clinic, has announced its grand opening in the Delhi NCR region, bringing the highly sought-after ‘flawless glass skin’ aesthetic to the Indian skincare market. Specializing in personalized, high-tech treatments specifically designed for Indian skin, KorinMi aims to transform the beauty landscape by blending Korean skincare expertise with innovative technology.
With India’s climate and pollution posing challenges to achieving smooth, radiant skin, KorinMi focuses on treatments that promote the desired glass skin glow. The clinic utilizes advanced 3D skin analysis technology, a first of its kind in India, allowing certified experts to assess skin conditions at both the epidermis and dermis levels. This cutting-edge approach enables the creation of individualized treatment plans, ensuring that every client receives effective and culturally relevant care.
KorinMi embraces a holistic philosophy that prioritizes skin health alongside aesthetic results. Their personalized regimens empower clients with knowledge about effective skincare practices, fostering long-term results and boosting confidence. Each treatment is meticulously tailored to reflect the clinic’s commitment to customized solutions that address individual skincare needs.
KorinMi is also introducing exclusive and luxurious services, including 3D Skin Analysis, the proprietary lifting technology Xylift, and painless laser treatments via Luminex technology. These innovative solutions enhance skin health and beauty, offering non-invasive options to stimulate collagen production and address various skin concerns. The clinic continuously refines its offerings based on client feedback and treatment outcomes, ensuring they meet the evolving demands of all skin types.
“We provide clients with high quality 1:1 personalized skincare treatments that enhance their natural beauty and help them achieve flawless glass skin,” said Reshbha Munjal, Co-Founder of KorinMi.
Jenovia Daun Jung, Co-Founder, KorinMi shared, “Having observed the growing demand for effective and personalized skincare solutions in India, we felt inspired to bring the best of Korean beauty expertise to this vibrant market. We saw a significant gap in professional Korean skincare services that cater specifically to Indian skin types, and that’s why we launched KorinMi. We are truly excited to offer transformative skincare journeys that not only improve skin health but also elevate confidence, helping our clients embrace their unique beauty.”
Joining KorinMi as a partner dermatologist is Dr. Deepali Bhardwaj, a celebrity dermatologist with over 15 years of experience and a trusted figure in skincare. Her expertise further strengthens KorinMi’s mission to provide world-class, tailored treatments that cater to the specific needs of Indian skin.
KorinMi welcomes beauty enthusiasts across India to step into a new era of skincare—where Korean beauty innovations meet cutting-edge technology, delivering personalized care and visible results designed specifically for Indian skin.
TOTO, one of the global leaders in sanitaryware innovation, proudly announces a major milestone: its WASHLET product line has surpassed 60 million units sold worldwide and continues to see remarkable growth. This achievement has been largely driven by India’s post-COVID surge, where TOTO India has doubled WASHLET sales over the past three years, establishing the country as a key market for the brand. The WASHLET, a registered trademark of TOTO LTD, is an electronic bidet equipped with smart features like heated seats, self-cleaning wands, automatic lid functions, dryer, and deodorization, among others.
With Indian consumers increasingly valuing personal wellness and comfort, TOTO’s strategic focus on the WASHLET in this market aligns with the rapid evolution of the sanitaryware sector. Reflecting the global shift toward hygiene and wellness, TOTO India has experienced remarkable growth, fueled by a heightened focus on hygiene in both residential and public spaces.
Shiozawa Kazuyuki, Managing Director, TOTO India said, "Since 2021, we have observed phenomenal growth in the WASHLET product segment, particularly in India where hygiene standards have become a key priority for consumers. Our sales figures clearly reflect the increasing demand for premium bathroom solutions, and we are proud to see that our innovation is playing a significant role in enhancing daily wellness for users across the country. The past three years have been transformative for the brand in India, and we are excited to continue expanding our presence with a focus on promoting hygiene and wellness."
Since its launch in 1980, the TOTO WASHLET has set new standards in bathroom technology, offering warm water washing, air drying, and seat warming functions, and has redefined hygiene practices by replacing traditional cleansing methods with advanced features. In the wake of the pandemic, India has seen accelerated adoption of the WASHLET, with consumers seeking hygienic, tech-driven bathroom solutions. The WASHLET now boasts up to 400 components, enabling features such as deodorization, self-cleaning, and customizable cleansing settings.
Throughout the APAC region, demand for advanced hygiene technologies has surged, with consumers increasingly drawn to products that emphasize cleanliness, wellness, and luxury. Alongside its robust growth in India, TOTO has seen similar trends across other APAC markets, where the brand’s blend of advanced technology and luxurious comfort is meeting the rising demand for premium sanitaryware.
As TOTO continues its path of innovation, it remains dedicated to promoting wellness and sustainability through its products, further reinforcing its global leadership in technology and design.
CarTrade's OLX India has announced that Amit Kumar will step down from his role as managing director and CEO, with his departure set for January 31, 2025, according to a recent filing with the Bombay Stock Exchange (BSE). Kumar has been instrumental in OLX India’s evolution, growing it from a pilot project in the Delhi-NCR region into a major retail platform with a strong national presence.
During his tenure, OLX India experienced considerable growth and development. Kumar, who previously served as vice president, managed critical areas such as product development, operations, sales, HR, finance, and regional expansion. His strategic vision was key in positioning OLX as a well-known brand in the online classifieds space.
Prior to his time at OLX, Kumar was an angel investor and advisor at Spyne, reflecting his broad experience across the tech and startup sectors. With a career spanning 16 years, he advanced from a management trainee to a global CXO and CEO, gaining extensive experience across multiple regions, including Asia, Africa, Eastern Europe, and Latin America. Kumar's career includes work in sectors like classifieds, e-commerce, FMCG, and telecom, with a focus on building scalable enterprises and cultivating high-performing teams.
“Under my leadership, we have built OLX India into a trusted platform for millions of users. As I prepare for the next chapter in my career, I am confident that OLX India will continue to thrive and grow,” Kumar stated.
Kumar’s extensive career also includes roles at esteemed companies such as Britannia, Uninor, Times Internet, and Snapdeal, where he developed expertise in managing diverse markets and driving business achievements. His knowledge spans various consumer segments, from premium to lower-income markets, showcasing his adaptability to different customer needs.
Looking ahead, OLX India will seek a successor to carry forward Kumar’s legacy and lead the platform through its next growth phase. While his resignation represents a major shift for OLX India, Kumar's contributions will leave a lasting impact on the organization well into the future.
Alankaram, a well-known name in bespoke furniture and design, has unveiled its most expansive showroom yet in the bustling city of Bengaluru. Nestled in a city celebrated for its vibrant culture and rapidly growing design-conscious population, this new showroom aims to become a landmark destination for those seeking furniture that embodies both elegance and individuality. Showcasing over 500 unique pieces, the space is designed to highlight Alankaram’s distinct combination of storytelling, craftsmanship, and contemporary aesthetics, making it more than just a furniture store—it’s a curated journey through design.
The showroom represents a seamless fusion of traditional Indian craftsmanship and modern design sensibilities, tailored for a clientele that values both aesthetic appeal and functionality. It’s an approach that Alankaram has cultivated over the years, and one that has propelled the brand to the forefront of the Indian furniture market.
Ar. Anupriya Sahu, Founder and Design Head of Alankaram, articulates the philosophy behind this space, stating, “The Bengaluru showroom is designed to reflect Alankaram’s core philosophy—merging traditional Indian craftsmanship with modern aesthetics. As one of the largest displays of customizable teakwood designer furniture in the country, this space showcases Alankaram’s dedication to quality and creativity.”
Spread over three floors, the showroom is divided into 25 distinct zones, each curated to represent different design styles and aesthetics. The space invites customers to envision how Alankaram’s pieces could transform their own homes. Each zone is thoughtfully designed to provide an immersive experience, allowing visitors to not only view but also feel the impact of each design in a setting that mirrors a true home environment. This layout helps customers visualize how Alankaram’s bespoke pieces could enhance the spaces they live in, making the showroom not just a place to buy furniture, but a source of inspiration.
While Alankaram’s forte lies in customizable furniture, the showroom extends far beyond. Customers can also explore a diverse range of home décor accessories, including bedding, cushions, mattresses, rugs, and both antique and contemporary accents that add a final touch to any space. This comprehensive collection enables clients to create a cohesive and personalized look, ensuring that each element complements the others.
Further enhancing the experience is Alankaram’s in-house design team, which offers bespoke consultation services. This service allows customers to tailor each piece to their specific tastes, ensuring that no two pieces are exactly alike. The team collaborates closely with clients to understand their preferences, style, and vision, which helps bring to life pieces that truly embody the clients’ personality and needs.
One of the hallmarks of Alankaram’s brand philosophy is its commitment to sustainability. All of Alankaram’s furniture is crafted using sustainably sourced, high-quality woods like teak, oak, and walnut. Eco-friendly production methods are also implemented to minimize the environmental footprint of each piece. For Alankaram, sustainability goes hand-in-hand with aesthetics and quality—a trifecta that aligns with the values of its discerning clientele.
“Bespoke furniture isn’t just about aesthetics,” Sahu emphasizes. “It’s about creating timeless pieces that bridge tradition and innovation, while being mindful of the environment.” This vision underscores every piece at Alankaram, where furniture isn’t just made to fill a space, but to tell a story of craftsmanship and sustainability, designed to last for generations.
With Bengaluru’s cosmopolitan culture and a populace that values refined design, the city was a natural choice for Alankaram’s latest showroom. Dhwanit Parmar, Co-founder of Alankaram, explains, “The city’s vibrant design scene and cosmopolitan audience make it an ideal location for this launch. Our customers will experience luxury furniture that is customizable and one-of-a-kind, offering styles from minimalistic to intricately handcrafted designs.” This launch reflects Alankaram’s keen understanding of its audience, recognizing the city’s growing appreciation for exclusive, customizable furniture.
In this new showroom, customers can expect a blend of minimalistic, modern styles alongside more elaborate, handcrafted designs—offering something for every taste. From sleek, simple lines that suit a modern urban lifestyle to intricate designs that evoke India’s rich artisanal heritage, Alankaram’s offerings cater to a wide spectrum of aesthetic preferences.
Looking forward, Alankaram has ambitious plans to expand its presence across India. This new showroom in Bengaluru marks a significant milestone in that journey, but it’s only the beginning. “We’re not just creating furniture,” says Sahu. “We’re creating experiences—stories that reflect personal style, the history of craftsmanship, and Alankaram’s vision.”
The brand aims to create spaces that serve as storytelling mediums, blending history, innovation, and art. By focusing on quality, craftsmanship, and sustainability, the brand hopes to redefine the Indian furniture market and create a legacy that endures. As it looks toward future expansions, Alankaram remains committed to offering furniture that isn’t just functional, but transformative.
Sheela Foam Limited, India's leading manufacturer of polyurethane foam and the parent company of Sleepwell and Kurl-on, has reported its financial results for the second quarter and half-year ending September 30, 2024. Reflecting solid growth across its various segments, the results highlight the success of post-acquisition synergies following the integration of Sleepwell and Kurl-on, which have strengthened the company’s business-to-business (B2B) and business-to-consumer (B2C) divisions.
The integration of these flagship brands has resulted in annual synergy benefits surpassing Rs. 100 crores, which has boosted profitability through streamlined operations, expanded market outreach, and efficient resource management. These improvements reinforce Sheela Foam’s foundation and enable the company to continually deliver value to customers and stakeholders within the sleep solutions industry.
For the quarter, Sheela Foam’s standalone revenue reached Rs. 602 crores, an impressive 42 percent increase from the previous year. The company's EBITDA grew by 54 percent to Rs. 70 crores, translating to an EBITDA margin of 11.7 percent, while net profit rose to Rs. 43 crores, marking a 12 percent increase year-over-year. On a consolidated basis, the company reported revenues of Rs. 813 crores, with a year-over-year increase of 32 percent, an EBITDA of Rs. 69 crores, and a net profit of Rs. 9 crores.
This quarter also marked Sheela Foam’s launch of advanced products, including the Spinetech, Orthomagic, and Pro FitRest mattresses. Endorsed by the Indian Association of Orthopaedic Surgeons and the Indian Association of Physiotherapists, these products have been well-received, strengthening the company’s market position. Additionally, Sheela Foam’s extensive distribution network—comprising over 20,000 touchpoints—has helped support substantial growth across various markets.
Sheela Foam has also reported substantial gains across other business areas, including furniture cushioning, Comfort Foam, and Technical Foam, which are witnessing increased demand from sectors such as automotive, footwear, lingerie, and other ancillary markets. The growth in these areas further underscores Sheela Foam’s strategic focus on diversified market applications and innovations in sleep technology.
Commenting on the results, Rahul Gautam, Executive Chairman of Sheela Foam Limited, noted, “Both Sleepwell and Kurl-on brands have entered their desired orbits, showing impressive volume growth in Q2 FY25 while maintaining strong margins. We remain committed to delivering customer-centric innovation across all areas of our business.”
Tushaar Gautam, Managing Director of Sheela Foam Limited, added, “We have unlocked additional value by optimizing costs post-integration, resulting in an adjusted EBITDA nearing 10 percent for Q2 FY25 of India business, primarily driven by synergies across raw material, logistics, and manpower rationalization.”
With its focus on strategic growth and innovative product offerings, Sheela Foam Limited continues to strengthen its market leadership and commitment to quality, setting new standards in the sleep solutions industry.
Samsung, a leading consumer electronics brand, has announced the launch of its largest Experience Store in Gurugram, strategically located at DLF CyberHub, a hub known for its vibrant mix of entertainment, lifestyle, and commerce. Spanning 3,000 square feet, this new store invites consumers to immerse themselves in Samsung’s most advanced mobile and connected technology offerings.
Situated in one of Gurugram’s busiest areas, the store is designed to serve the city’s tech-savvy and innovation-driven community. Visitors will have the opportunity for hands-on interaction with Samsung’s flagship smartphones, wearables, audio devices, and the SmartThings ecosystem, all showcased in thoughtfully curated immersive zones.
Emphasizing personalized customer engagement, the store features dedicated experts who guide visitors through Samsung’s latest products, helping them find tailored solutions to meet their lifestyle needs.
“Our new Experience Store at DLF CyberHub marks a significant step in Samsung’s journey to bring innovative, seamlessly integrated technology closer to consumers. This store is more than a retail space, it offers a glimpse into the future of connected living, where our SmartThings ecosystem and mobile experiences converge to improve everyday life. Building on the success of our existing experience stores nationwide, the CyberHub location is set to elevate customer engagement through hands-on demonstrations, personalized consultations, and immersive zones that highlight our latest innovations. We invite consumers to explore and experience the cutting-edge technology that is shaping the future of how we live, work, and connect,” said Sumit Walia, Vice President, D2C Business, Samsung India.
The new Experience Store represents a seamless blend of physical and digital shopping experiences. Customers can easily transition between in-store browsing and online purchasing through Samsung’s Store+ platform. With access to over 1,200 Samsung products, including Mobiles, Smart TVs, and Refrigerators, all available for home delivery, consumers are assured a convenient shopping experience.
Additionally, Samsung is enhancing customer engagement with its ‘Learn @ Samsung’ initiative, offering workshops focused on AI education and topics that resonate with consumer interests, such as doodling, photography, fitness, and productivity. The new store will also provide after-sales service for smartphones and allow customers to book home service calls for all consumer electronics needs.
To celebrate the grand opening, Samsung is rolling out special offers for early visitors, including the Galaxy Fit3 at Rs. 1,999 with select Galaxy purchases and double SmartClub points on all transactions. These exclusive deals add extra value to the immersive experience awaiting customers at DLF CyberHub.
Samsung invites all tech enthusiasts, shoppers, and innovators to visit the new Experience Store to explore the best in mobile technology, connected solutions, and personalized services, all designed to deliver a premium, future-forward experience.
Livpure, a prominent company within the SAR Group and a leader in water purification and appliance technology, has announced the appointment of Rahul Khanna as the Head of its Strategic Business Unit for Appliances. With over 17 years of extensive experience in the appliance industry, including notable positions at Panasonic, LG, and Samsung, Rahul Khanna is poised to steer Livpure’s appliance division toward a new era of growth and innovation.
Before joining Livpure, Khanna held the position of Product Management Head for Living Product Appliances at Samsung Electronics, where he was instrumental in advancing product portfolios and driving market success. His strategic insights and dedication to excellence significantly contributed to delivering substantial growth and enhancing customer satisfaction in highly competitive markets.
In his new role, Khanna will oversee various critical functions, including product portfolio management, business strategy, and market expansion, all aimed at enhancing brand visibility. He will be fully accountable for the financial performance, revenue generation, profitability, and cost efficiency of the appliance division. His leadership is expected to be vital in ensuring that Livpure continues to meet and exceed customer expectations within the dynamic and competitive appliances sector.
Rahul Khanna commented on the appointment, “I am honored to join Livpure, a company known for its commitment to quality and customer-centric innovation. I look forward to collaborating with the talented team at Livpure to drive product excellence, elevate the customer experience, and further solidify our market position.”
Rakesh Kaul, Managing Director & CEO, Livpure expressed, “We are excited to welcome Rahul to the Livpure family. His industry knowledge and strategic acumen will be invaluable as we aim to strengthen our foothold in the appliance market. With Rahul at the helm, we are well-positioned to achieve new milestones and deliver outstanding value to our customers.”
Under Rahul Khanna’s guidance, Livpure is dedicated to expanding its product lineup while reinforcing its leadership in the appliance sector, maintaining its promise of quality, reliability, and innovation.
Crossword Bookstore has recently announced the release of Ratan Tata – An Icon of India’s Corporate and Philanthropic Legacy, a comprehensive biography offering readers an intimate look into the life of one of India’s most respected figures. Written by Thomas Mathew, a retired bureaucrat and close friend of Tata, this book captures the story of Tata's journey, values, and impact on Indian industry. Mathew, who has known Tata for over 30 years, brings unique insights into Tata’s professional milestones and personal character.
Through previously unheard stories, readers will explore Tata’s evolution from his early days to leading the Tata Group to global prominence. The biography includes rare interviews with Tata’s inner circle, from family members to colleagues, revealing personal anecdotes that showcase his humility, leadership, and influence on those around him. Accompanying Tata’s story are never-before-seen photographs from his childhood, university days, and pivotal career moments, giving readers a rare window into the man behind the legacy.
Known for his ethical values and commitment to India, Tata's biography highlights his dedication to innovation, social equality, and fostering entrepreneurship. His leadership not only transformed the Tata Group but also reshaped the Indian business landscape, making this book essential for those interested in impactful, value-driven leadership. Mathew’s close relationship with Tata adds depth to the biography, giving readers an unparalleled view of Tata’s philosophy on global business and social responsibility.
Thomas Mathew’s extensive experience in the Indian Administrative Service and his long-standing friendship with Tata equip him with a deep understanding of corporate India and global policies. His insights offer readers a balanced and informed portrait of Tata, granting privileged access to Tata’s views on global business and social responsibility.
As Thomas Mathew says, Ratan Tata – An Icon of India’s Corporate and Philanthropic Legacy is now available at Crossword Bookstores and online, promising to be an inspiring read for aspiring leaders, entrepreneurs, and admirers of Tata’s enduring influence.
Amazon India has announced that its month-long Amazon Great Indian Festival (AGIF) 2024 has emerged as the most successful shopping event in its history, benefiting customers, sellers, and brand partners nationwide. Kicking off on September 27th with 24 hours of Prime Early Access, the festival showcased more than 25,000 new product launches from leading brands across a wide range of categories, including laptops, TVs, smartphones, fashion, beauty, home décor, appliances, furniture, and groceries.
AGIF 2024 also marked significant achievements for sellers, with over a 70 percent increase in those surpassing Rs. 1 crore in sales compared to the previous year. The online marketplace enhanced its fast delivery capabilities, successfully delivering over 3 crore products to Prime members within the same or the next day—a remarkable 26 percent increase from last year.
"The Amazon's Great Indian Festival 2024 has truly become India's greatest shopping phenomenon, smashing all previous records. This overwhelming response from across the country, for everything from daily essentials to high-value purchases, underscores customers' deepening trust in Amazon India. AGIF exemplifies our obsession with providing an unparalleled shopping experience through a wide selection, unmatched value, fast delivery, and relentless innovation. We are committed to creating more opportunities that unlock greater value for our entire ecosystem of customers, sellers, and partners," said Saurabh Srivastava, Vice President – Categories, Amazon India.
The festival also proved to be a remarkable celebration for sellers. Small and medium businesses, including women entrepreneurs, weavers, and artisans, sold over 1,000 units every minute during the event. More than 42,000 sellers achieved their highest-ever single-day sales during AGIF 2024. Notably, sellers from the highest-ever number of pin codes across all editions of the event experienced significant sales growth, with over 4,500 sellers recording a tenfold spike, more than 7,000 seeing a fivefold increase, and over 13,000 enjoying a twofold surge in sales compared to last year.
The participation of sellers from India’s heartland was particularly noteworthy, with approximately 70 percent of participating sellers coming from Tier II and smaller cities. Amazon also observed the highest-ever number of sellers from these regions making sales during AGIF 2024, underscoring the event's broad reach and impact.
The Amazon Great Indian Festival 2024 has set new benchmarks in the online shopping landscape, reinforcing Amazon India's commitment to innovation and customer satisfaction.
Global water technology leader A. O. Smith Corporation (NYSE: AOS) has announced the completion of its acquisition of Pureit, a well-established water purification business by Hindustan Unilever Limited. This strategic acquisition bolsters A. O. Smith’s footprint in the residential water purification sector, particularly in India, where Pureit has a significant presence.
“Pureit complements our premium brands in the market and their strength in e-commerce will allow us to expand our presence in that channel. This acquisition aligns with our strategy of adding scale and enhances our premium water treatment product portfolio and distribution footprint,” stated Kevin J. Wheeler, the Company’s Chairman and Chief Executive Officer.
Since its inception in 2004 in Chennai, India, Pureit has aimed to make safe drinking water accessible to the rapidly growing populations in South Asia and beyond. With a wide product range, including devices, filters, and spares, Pureit has become a market leader not only in India but also in Bangladesh, Sri Lanka, Vietnam, and Mexico, among other regions.
“We are excited to welcome Pureit to the A. O. Smith family. Pureit’s history of providing effective water purification solutions has made it a leader in the water industry. Our cultures align closely, emphasizing innovation, best-in-class customer service, and premium products. Together, we will elevate our brand and expand our reach and impact across South Asia,” shared Parag Kulkarni, President, A. O. Smith Indian Water Products Private Limited.
“Aligning with A. O. Smith is a significant step forward for Pureit, enabling us to merge our strengths in innovation and market reach. Together, we look forward to setting new benchmarks in water purification and combining our shared commitment to quality and customer trust. This partnership with A. O. Smith empowers us to deliver even more advanced, reliable, and accessible solutions to address the evolving water purification needs in India,” commented Sreenivas Narayanan, General Manager, Pureit.
The acquisition, initially announced earlier this year, is not expected to have a material impact on A. O. Smith’s earnings within the first year. This move reflects A. O. Smith’s commitment to expanding its reach in the premium water treatment market, ensuring high-quality and accessible water purification solutions for consumers across South Asia and beyond.
Tira Beauty celebrates a major milestone this Diwali season by announcing the opening of two new stores in India—its 13th store at Seawoods Mall, Mumbai, and the 14th store at 1MG Mall, Bengaluru.
The news was shared with great enthusiasm, highlighting Tira Beauty’s commitment to expanding its offline presence and providing the signature Tira experience to more communities across India. "This marks an incredible milestone as we continue expanding our offline presence, bringing the Tira experience to more communities across India," stated Nirant Khedkar, Chief Operations, Tira Beauty.
With a strong focus on enhancing the customer experience, Tira Beauty’s stores are designed as immersive beauty destinations. The new outlets offer personalized consultations with trained beauty advisors, an exclusive selection of global and homegrown brands, and engaging in-store experiences where customers can explore and test products in real time. The brand emphasized its commitment to diversity, sustainability, and inclusivity, promising that beauty will be accessible and relatable for all.
The Tira team expressed immense gratitude to everyone involved in the successful store openings. "A massive THANK YOU to the dedicated Tira team, our partners, and everyone who worked tirelessly to bring these openings to life. Your hard work and passion are truly inspiring, and I’m grateful to be on this journey with all of you," the statement given by Nirant Khedkar.
Beauty enthusiasts in Mumbai and Bengaluru are invited to visit Tira Beauty’s latest stores at Seawoods Mall and 1MG Mall to discover their next beauty must-haves. The brand closed the announcement with high spirits, saying, "Here’s to many more milestones and the continued success of Tira Beauty! Happy Diwali.
Swiss smart wearable devices maker Garmin is targeting strong double-digit growth in India, which has become a key market where the company is prioritizing investments, according to an official from AMIT International Group (AIG), Garmin’s distributor in the country.
Alongside its popular range of smart wearables, Garmin produces marine devices for ships and boats, as well as outdoor handheld devices, and expects growth from these segments as well. Despite analyst firms like IDC forecasting a 10 percent year-on-year drop in the Indian smart wearable market for Q2, down to 29.5 million units, Garmin remains optimistic about its growth in the region, thanks to its strong product lineup and established brand value, said Deepak Raina, General Manager, AMIT GPS & Navigation, India.
“India is one of the markets where we want to focus and want to invest, because of the growing middle class here, which is one of the biggest in the world,” Raina shared.
Raina further noted, "Post-pandemic health consciousness is increasing, with people adopting more active lifestyles—trends that “reflect in our business results also. The company is aiming for “double-digit growth” in India. To drive growth further, AIG is working with financing companies to offer attractive installment payment options for Garmin products, making them more accessible to customers."
On Wednesday, Garmin launched the Fenix 8 series smartwatches in India, with a starting price of Rs 86,990.
AIG, which holds distribution rights for Garmin in other regions including the UAE, Saudi Arabia, Bangladesh, Nepal, and Bhutan, noted that the Indian market decline stems from an influx of low-quality smartwatches. “This degrowth sentiment is coming from watches, which claim to be smartwatches and not being able to fulfill the expectations and is spoiling the mood of the customer,” Raina said, adding, “We take this as an opportunity.”
India, the world’s second-largest wearable market after China, is an important part of Garmin’s growth strategy. AIG currently operates four exclusive Garmin stores in India and has plans to expand its retail network. Although Raina did not disclose the exact number, he mentioned that “several stores are in the pipeline.”
“These shops would help elevate the Garmin experience to its customers to the next level, on which we are already working. Besides, we have 200 dealers in the country with whom we are working,” he added.
"Garmin is also expanding its online presence. “Soon, we are going to be available on the key portals as well. We have received a lot of queries for online sales. So we are going to give those customers an option to purchase through the biggest websites (e-commerce) that we have in India,” said Raina.
In a niche market for premium smartwatches, Garmin is known for its advanced technology aimed at fitness enthusiasts, trekkers, runners, and athletes across categories such as fitness, outdoor, aviation, marine, and automotive OEM. “Technology will come with a price tag,” Raina added, noting that quality data cannot be expected from low-cost devices.
Garmin is also focusing on health initiatives with its division Garmin Health, which promotes healthy living and wellness.
In time for the festive season, Sunfeast Baked Creations has launched a premium range of Global Gourmet Cookies, inspired by popular international cafés. This retail offering in India brings a curated selection of cookie varieties using globally sourced ingredients, aiming to create an elevated experience for cookie enthusiasts.
The Global Gourmet collection includes three distinct options: Rich Choco Chip, Oats and Hazelnut, and Walnut and Choco Chip Cookies. Each variety showcases a unique blend of high-quality ingredients, such as Belgian choco chips in the Rich Choco Chip Cookies, Californian walnuts in the Walnut and Choco Chip Cookies, and Turkish hazelnuts in the Oats and Hazelnut Cookies.
This product line demonstrates Sunfeast Baked Creations’ effort to replicate a global cookie culture for Indian consumers, specifically catering to the premium segment in the country’s retail market. Designed to appeal to evolving customer preferences, the cookies are packaged for an "Ecom-First" strategy, catering to the increasing trend of premium consumers purchasing through online platforms.
Ali Harris Shere, COO of Biscuits and Cakes, ITC Foods Business said, “Ecommerce is growing exponentially, and consumers today are more willing than ever to pay a premium and explore unique, indulgent international formats and flavours when it comes to their snacking choices. The premium segment, now making up almost 15 percent of cookie sales on e-commerce, represents a growing market that Sunfeast Baked Creations aims to capture. This is a one-of-a-kind launch offering a cookie experience that recreates the same experience you have in an international café and it combines the best of global ingredient and local craftsmanship.”
Priced starting at Rs 130 for a 120-gram pack, the Sunfeast Baked Creations Gourmet Cookies will be available exclusively on ITC’s online store and quick-commerce platforms like Blinkit and Zepto, ensuring accessibility to customers in major metro areas across India.
In Q2FY25, Marico Limited, a key player in India's retail sector, reported Rs 2,664 crore in revenue from operations, marking an 8 percent year-over-year (YoY) growth. This growth was supported by a 5 percent increase in domestic business volumes and a 13 percent constant currency growth in its international business. Marico’s domestic revenue reached Rs 1,979 crore, reflecting an 8 percent increase as pricing adjustments in the Coconut Oil portfolio and favorable trends in Saffola Oils added to volume growth.
Marico noted stable demand in the Indian retail market, with rural areas growing at twice the rate of urban regions. "We closed the first half of the fiscal on a fairly positive note with the growth trajectory of the business heading in the right direction. We have delivered healthy volume-led revenue growth in the domestic business buoyed by sustained market share and penetration gains across core portfolios," stated Saugata Gupta, MD and CEO.
In the domestic segment, the Parachute Rigids brand achieved a 4 percent increase in volume, with a 10 percent rise in revenue due to strategic pricing moves. Saffola Edible Oils maintained steady volume, while revenues grew by 2 percent YoY. Marico’s Foods segment reported a significant 28 percent YoY value growth, crossing Rs 1,000 crore in annual recurring revenue (ARR) this quarter. The premium personal care segment, led by digital-first brands, reached Rs 525 crore in ARR for Q2, with Beardo performing above expectations, aiming for double-digit EBITDA margins by year-end.
Marico’s international business also performed robustly, with Bangladesh growing by 8 percent in constant currency growth (CCG), while Vietnam, MENA, and South Africa posted 7 percent, 43 percent, and 20 percent CCG respectively.
Marico’s Project SETU, a rural market outreach initiative, expanded to four more states, bringing the total to ten. Additionally, the brand’s alternate channels showed increasing relevance over general trade, with more than 80 percent of its domestic business sustaining or gaining market share.
Marico’s gross margin improved by 30 basis points (bps) YoY, balancing input cost rises in the domestic market with higher margins from digital-first and international business sectors. The company’s EBITDA margin was recorded at 19.6 percent, while EBITDA itself grew by 5 percent YoY. The reported profit after tax (PAT) increased by 20 percent, benefiting from a one-time income of Rs 42 crore from asset sales and legal settlements. Excluding these one-offs, PAT rose by 10 percent.
For the outlook, Marico aims to scale its Foods business to 20-25 percent CAGR, reaching twice its FY24 revenue by FY27. The digital-first segment targets an ARR of Rs 600 crore by FY25. Marico plans for the Foods and Premium Personal Care portfolios to constitute about 25 percent of domestic revenue by FY27. Internationally, Marico expects to sustain double-digit constant currency growth and achieve mid-term revenue growth goals despite inflation in copra prices and import duty hikes on vegetable oils.
Gupta emphasized, “Foods and Digital-first brands continued to ramp up impressively and reinforce the diversification agenda. The international business has exhibited remarkable strength despite challenging operating conditions in select markets.”
In H2FY25, Marico forecasts consolidated revenue growth to enter double digits, with a steady focus on managing input costs and maintaining margins.
V-Mart Retail Ltd has reported a substantial improvement in its financial performance for the September quarter, with its net loss significantly reduced to Rs 57.99 crore, compared to a Rs 86.42 crore loss in the same period last year. This shift demonstrates the company’s progress in narrowing losses and increasing its operational efficiency, even amidst a competitive retail landscape.
Known for its value retail offerings across fashion, home, and general merchandise, V-Mart continues to appeal strongly to customers in smaller cities and rural areas, positioning itself as a preferred retailer for budget-conscious consumers. The company saw a robust 20.3 percent rise in revenue from operations this quarter, reaching Rs 660.97 crore, up from Rs 549.43 crore in the corresponding period last year. This revenue growth highlights V-Mart's resilience and ability to meet the evolving demands of its customer base. However, total expenses also grew by 13 percent, amounting to Rs 720.73 crore, as the retailer continued to invest in inventory, operations, and infrastructure to support its growth.
In an earnings report, V-Mart noted a 15 percent year-on-year increase in same-store sales, indicating stronger foot traffic and customer loyalty at established locations. The company’s inventory levels reached Rs 912 crore, a strategic buildup to ensure that its stores are well-stocked to meet festive season demand. Additionally, the brand has continued to expand its physical presence, opening 21 new stores and closing 2 underperforming outlets during Q2 of FY25, bringing its total network to 467 stores across India. These new locations are part of V-Mart's strategy to deepen its reach into regional markets, capitalizing on increasing consumer spending in Tier II and III cities.
V-Mart’s performance was positively received in the stock market, with shares closing at Rs 4,450.30, marking a 1.43 percent increase from the previous close. This reflects investor confidence in the company’s efforts to drive sustainable growth and long-term profitability.
Omni-channel jewelry brand CaratLane – a Tanishq Partnership has expanded its presence internationally, opening its first store in the United States in New Jersey, as announced by a company official.
“While we have been available online to our customers in the US for a few years, we will now be able to offer them the full-stack omnichannel experience with the opening of this store,” said Atul Sinha, Chief Operating Officer, CaratLane.
CaratLane’s entry into the global market aligns with its recent landmark achievement of opening its 300th store in Mumbai, which launched on Karwa Chauth and was inaugurated by celebrity influencer Nancy Tyagi. Located in Malad, this store covers an area of approximately 900 sq. ft.
“The new store is located across from Infinity Mall, where we already operate another outlet. Customer response in Malad has been so positive that we have opened another bigger store to give them a better experience,” said Deepika Khare, national head – Business Development at CaratLane.
Founded in 2008 by Mithun Sacheti and Srinivasa Gopalan, CaratLane initially started as an online brand specializing in fine jewelry, including rings, earrings, bracelets, bangles, and solitaires. The brand quickly made a name for itself by offering affordable luxury and exquisite craftsmanship that appealed to modern consumers.
In 2016, the Tata Group saw potential in CaratLane’s innovative business model and made a strategic investment through its subsidiary, Titan Company Ltd., which now holds a 99.64 percent stake in the company. Earlier this year, Titan announced its intention to acquire the remaining 0.36 percent stake in CaratLane for Rs 60.08 crore, further consolidating its position within the Tata Group’s portfolio and underscoring its confidence in CaratLane’s growth trajectory.
Arvind Ltd., a prominent textile manufacturer, reported a 25.44 percent drop in consolidated net profit, which stood at Rs 62.77 crore for the second quarter ending September 30, 2024. This decline was primarily due to increased expenses and a one-time impact related to a rise in deferred tax provisions.
In comparison, the company achieved a consolidated net profit of Rs 84.19 crore in the same quarter last fiscal, as per its recent regulatory filing. Nevertheless, consolidated revenue from operations rose to Rs 2,188.31 crore this quarter, up from Rs 1,921.73 crore in the previous year’s corresponding period.
Total expenses for the quarter increased to Rs 2,065.57 crore, compared to Rs 1,821.72 crore in the same quarter last year. Additionally, Arvind Ltd. allocated a one-time provision of Rs 29.35 crore to account for the recent changes in long-term capital gains tax, impacting the profit after tax for the quarter.
The company noted a steady recovery from the challenges faced in the first quarter, marking significant progress along its growth path. "All plants operated normally, contributing to a strong performance. Despite ongoing geopolitical issues and pessimistic macroeconomic forecasts creating uncertainty, the company’s operating performance this quarter showed promising signs,” the company stated.
Arvind Ltd. also reported volume gains across its fabric and garment segments, driven by stable raw material costs and a favorable product mix. The textile division saw a revenue increase of 12 percent—the highest in nine quarters—reaching Rs 1,633 crore, while the advanced material division recorded a 9 percent rise, bringing in Rs 388 crore.
Looking ahead, the company expressed optimism about sustaining the strong performance seen in the second quarter into the upcoming quarters.
Zudio, the fast fashion brand under the Tata Group, has officially opened its newest and largest store in Faridabad, covering an impressive 11,053 square feet at the NHPC Metro Station Mall. This significant expansion underscores Zudio's commitment to providing trendy and affordable fashion to customers across India.
“We are thrilled to open this flagship Zudio store in NHPC Metro Station Mall. This store allows us to bring the latest in fashion trends directly to Faridabad, creating a convenient and enjoyable shopping experience,” shared Uddhav Poddar, CMD of Bhumika Group.
Since its inception in September 2016, Zudio has seen rapid growth, launching its first flagship store on Bengaluru’s Commercial Street. The brand has expanded to over 500 locations across India, solidifying its position as a leading player in the fast fashion market. In a major milestone for the brand, Zudio opened its first international store in the United Arab Emirates in September 2024, marking a pivotal moment in its global expansion strategy.
Looking ahead, Zudio has ambitious plans for continued growth, with aims to open up to 200 new stores during the 2024-25 fiscal year. This expansion reflects Zudio's strategy to enhance its market presence and provide customers with greater access to its trendy and affordable offerings. The brand's focus on expansion aligns with the increasing demand for fast fashion in India, where consumers are continually seeking new styles and options.
Founded in 1961, the Bhumika Group has diversified its business interests across various sectors, including construction, warehousing, logistics, mining, textiles, and manufacturing. The Group has established a nationwide presence with offices in Delhi, Rajasthan, Tamil Nadu, Bihar, and Kerala. One of its flagship projects is the Urban Square Mall in Udaipur, which stands as Bhumika Group’s largest real estate endeavor.
As Zudio continues to grow, it aims to further redefine the fast fashion landscape in India by ensuring that customers have access to the latest styles without compromising on quality. With the launch of its flagship store in Faridabad, Zudio is well-positioned to become a go-to destination for fashion-savvy consumers in the region.
Allen Solly, a pioneering brand under Aditya Birla Fashion and Retail, has made a bold statement with the launch of its largest store in India, located in the upscale Banjara Hills of Hyderabad. Spanning an impressive 5,300 square feet across three levels, this new flagship store aims to provide fashion enthusiasts in the city with a world-class retail experience, solidifying its position as a premier fashion destination.
The store’s launch introduces a fresh visual identity for Allen Solly, enhancing the in-store experience and offering a unique form of retail therapy. The design thoughtfully reflects the brand’s iconic heritage, including its Nottingham roots and signature Stag emblem. The contemporary layout is appealing and ensures shoppers enjoy a seamless and immersive journey through the brand’s extensive offerings. The store features over 10,000 styles, an exclusive wedding studio, and on-site professional tailors, catering to the growing demands of Hyderabad's consumers.
In addition to its striking new look, the store showcases Allen Solly’s signature collections for men, women, and juniors. Shoppers can find a diverse range of attire, from smart casuals to sophisticated formals, premium wedding wear, vibrant weekend wear, and chic workwear. For men, the store highlights Allen Solly’s renowned smart and business casuals, ideal for modern professionals seeking comfort and style. Women can explore an extensive selection of contemporary outfits, including elegant office wear and relaxed weekend ensembles, complemented by the widest collection of handbags. The juniors’ section offers fun, trendy, and comfortable options, ensuring that the younger generation is well-represented in the fashion landscape.
Richa Pai, Chief Operating Officer, Allen Solly said, “We are excited to unveil our flagship store at Banjara Hills, Hyderabad. With this store, Allen Solly embarks on a new retail identity, inspired from our rich Nottingham heritage. We offer an elevated shopping experience that combines sophistication, and contemporary design. With a wide array of menswear, and womenswear, and an expansive kids' collection, this store is tailored to the modern Indian consumer who embraces international style trends. We are confident this store will become Hyderabad’s go-to destination for fashion-forward consumers.”
The new Allen Solly store in Banjara Hills aims to redefine retail shopping in Hyderabad by blending the latest fashion trends with the brand’s rich heritage. With its impressive selection, personalized service, and an ambiance designed to delight, this store is set to become the ultimate destination for fashion enthusiasts across the city.
Locks by Godrej, part of the Godrej and Boyce business within the Godrej Enterprises Group, has been a trusted name in home safety in India for over 127 years. Aiming for 20 percent growth—outpacing the projected 14 percent market growth—the company is leveraging smart home integration, design-led innovation, and an expanded retail footprint across India to reach its goal.
With strong investments in technology and local manufacturing, Locks by Godrej is adapting its product range to meet the changing demands of Indian consumers. The company's strategy is centered around expanding its line of smart digital locks and advancing local production through enhanced automation and new technologies.
Shyam Motwani, Business Head of Locks and Architectural Fittings and Systems at Godrej and Boyce shared, “We are targeting 20 percent growth by leveraging our ‘Make in India’ philosophy and focusing on smart solutions that enhance home safety. Our commitment is to deliver reliable, innovative, and affordable safety products that cater to the diverse needs of families across the country.”
In line with the national 'Make in India' initiative, Godrej has been investing heavily in capacity-building within its manufacturing facilities, ensuring high production standards and supporting the local economy. Locks by Godrej offers a broad selection of advanced safety products, including new IoT-enabled digital locks and biometric systems, aimed at seamlessly integrating with modern home designs.
With the Indian home safety market currently valued at Rs 6,700 crore and projected to reach Rs 10,000 crore by 2027, Locks by Godrej is positioning itself to meet growing consumer demand with a variety of smart safety products catering to both premium and mass-market segments. The company's commitment to innovation and local production is aligned with its goal of providing cutting-edge safety solutions for households in both urban and semi-urban areas across India.
As the brand continues its expansion, Locks by Godrej remains dedicated to offering reliable, technology-driven safety solutions to secure homes throughout India.
The increase in counterfeit goods across India’s retail market, particularly during festive seasons, has raised concerns for numerous Indian and multinational brands. Consumers are often misled by counterfeit products, impacting both brand reputation and customer trust. Recently, Skechers USA Inc and Skechers USA Inc II, through their Indian entity, Skechers South Asia Private Limited, confronted a similar issue. Various counterfeit items bearing Skechers trademarks, including the distinct “SKECHERS” branding, have been observed in the market, potentially misleading consumers and harming the brand’s reputation in India.
To address this situation before the festive Diwali season when counterfeit sales peak, Skechers proactively sought legal action through the Bombay High Court and Delhi High Court. On October 24, 2024, the Bombay High Court granted Skechers an ex-parte injunction against infringers in Nashik and Indore, ordering a search and seizure of counterfeit Skechers footwear. Similarly, on October 25, 2024, the Delhi High Court granted Skechers an ex-parte injunction order against both known and unknown counterfeiters, commonly referred to as John Doe or Ashok Kumar, authorizing the seizure of counterfeit goods.
Following the court orders, Skechers conducted extensive search and seizure operations on October 26, 2024, across more than 15 locations in three states—Nashik, Indore, and Delhi. Supported by local police and appointed Court Receivers (Bombay High Court) and Local Commissioners (Delhi High Court), Skechers seized approximately 2,500 counterfeit items bearing its trademarks.
Khaitan and Co advised Skechers South Asia Private Limited in the legal proceedings. Counsel Hiren Kamod and Senior Counsel Chander M. Lall represented Skechers in the Bombay and Delhi High Courts, respectively, with support from Khaitan and Co team members, including Partner Smriti Yadav, Associate Shubham Shende, Principal Associate Kshitij Parashar, and Senior Associate Gautam Wadhwa.
Chandon India, part of the esteemed Louis Vuitton Moët Hennessy (LVMH) Group, is marking a decade of redefining the sparkling wine segment in India. Since its debut, Chandon has led the market with a blend of exceptional craftsmanship, sustainable innovation, and bold expression. To commemorate this milestone, Chandon is releasing a limited edition Chandon Vintage 2015, crafted from the first grapes harvested at its Nashik winery.
This exclusive blend, aged over eight years, showcases floral and peachy notes balanced by a fresh, zesty profile with subtle toasty accents.
“The Vintage 2015 is a wine crafted to elevate any moment, from casual gatherings to truly unforgettable occasions. It offers a harmonious tension between freshness and complexity, with dry floral, peach, and grapey notes layered with the richness of baked apple, pastry, and toasty nuances,” shared Kaushal Khairnar, Winemaker at Chandon India.
Since 2014, Chandon has pioneered luxury sparkling wine in a market traditionally dominated by spirits, creating a unique segment with a current 60 percent market share in its category and an annual growth of 27 percent (IWSR 2024). The brand’s wines have also won over 40 international awards, including recognition at the Decanter World Wine Awards and the Champagne and Sparkling Wine World Championship, celebrating Indian craftsmanship on the global stage.
“Chandon’s journey in India is a showcase of our passion towards the Indian market, by bringing luxury products catering to the burgeoning consumer base. We have pioneered in building a new category and have now become the fastest-growing sparkling wine brand. Today, with the launch of the Chandon Vintage 2015 edition, we pay ode to the past decade and look to the future with a reinforced commitment to offering unparalleled wine experiences,” said Ipsita Das, Managing Director of Moët Hennessy India.
Chandon India’s diverse portfolio now includes Chandon Brut, Chandon Rosé, Chandon Delice, and Chandon Aurva—a Shiraz-inspired still red wine launched last year, bringing new expressions to wine enthusiasts across the country. Chandon has also made sparkling wine part of everyday moments, with 70 percent of its activations centering around brunch events such as "Brunch & Bubbles" and "Rosé O'Clock."
The Chandon India winery, nestled in the Nashik foothills, is the LVMH Group’s first significant investment in India, embodying the brand’s commitment to sustainable practices. Using drip irrigation, solar power systems, and 100 percent water recycling, the winery has reduced its carbon footprint by 550 tonnes annually. Growing foot traffic—up 56 percent in 2023—solidifies its standing as a premium destination for wine lovers, further contributing to India’s premium wine landscape.
The limited edition Chandon Vintage 2015 captures a decade of dedication and artistry, with each sip a tribute to Chandon’s pioneering journey in India.
India’s renowned beauty and wellness brand, Bodycraft, has inaugurated its 22nd clinic and salon, marking its first-ever location in Dehradun. Known for its wide range of customizable, state-of-the-art treatments, Bodycraft’s new outlet aims to cater to diverse beauty and wellness needs under one roof. The grand opening was led by chief guest Mr. Sunil Uniyal Gama, BJP politician and Mayor of Dehradun, welcoming Bodycraft into the capital of Uttarakhand.
The launch marks Bodycraft’s ongoing expansion across India, following successful openings this year in Bengaluru and Gurugram, with further growth planned in both northern and southern India.
With an impressive 5,232 sq. ft. facility, the Dehradun location offers comprehensive wellness services for clients of all ages. Swati Gupta, Director & Head of Creative Development at Bodycraft Salons highlighted, “The focus is to set the bar high and ensure our fully customizable services appeal to individuals of all ages. Whether you’re coming with a parent or teenager, our renewed focus lies on satisfying and catering to the diverse beauty and wellness interests of our customers. We have onboarded globally-trained and certified wellness experts and hair stylists, so patrons can expect a host of exciting services at the new outlet—from our signature spa and advanced facials to trendsetting nails and all things hair.”
The new year has seen Bodycraft introduce several next-generation treatments across its locations, with services focusing on slimming, hair regrowth (QR 678), skin boosters (SkinVive and Profhilo), and anti-aging (dermal fillers and wrinkle relaxers). Founded by industry visionary Manjul Gupta in 1997, Bodycraft has built a legacy over 27 years, now reaching customers nationwide through 22 clinics and salons.
Founder and Director of Bodycraft Salons expressed, “Dehradun seems to be on the cusp of turning cosmopolitan. There’s a young audience in this city, folks who understand and prioritize wellness. We want to tap into the market here, and fill the gap of a premium, luxurious clinic-salon in town, which is easily accessible to youngsters and the aged alike."
Dr. Mikki Singh, Founder, and Medical Director of Bodycraft Clinics commented, “Dehradun has hard water, so we’re confident that our hair services will garner love and offer patrons the results they desire. Timely and quality treatments like IV Wellness Drips, Hydra-Medi Facials, Chemical Peels, Coolsculpting, and the like can make a world of difference to their overall well-being. We have some of the country’s best experts on board to ensure superlative quality in the services offered. While IV drips might be novel for the region, we’re seeing an incredible amount of interest."
With a dedicated focus on quality, innovation, and accessibility, Bodycraft’s new Dehradun location sets a new benchmark for beauty and wellness, bringing sophisticated care and personalized treatments to Uttarakhand’s capital.
Nykaaland 2.0, co-produced by Nykaa, a leading beauty and lifestyle retail destination in India, and BookMyShow Live, offered a blend of vintage beauty aesthetics and modern trends for a unique experience. Across three days, over 25,000 attendees were immersed in a pastel-themed setting featuring retro elements and interactive spaces. The festival, which included over 4,00,000 beauty samples, allowed visitors to explore a variety of products through sampling and brand showcases, reinforcing Nykaa’s focus on India’s growing beauty and retail sector.
Highlights from Nykaaland were accessible via the Nykaa app, enabling broader participation. Attendees also benefited from educational masterclasses at The Highlighter Zone, attracting over 5,000 participants eager to learn from industry experts. The event’s Foundation Hangar featured 80 top beauty and fashion brands, showcasing both new releases and exclusive festival offerings. Notable brand debuts included Carolina Herrera, Versace, Jimmy Choo, and Laura Mercier, as well as cult favorites such as CeraVe and Moroccanoil. The event also attracted fashion brands like Puma, Footlocker, Revolve, Gajra Gang, and KICA.
Nykaa Beauty’s Executive Director and CEO Anchit Nayar commented, “Nykaaland 2.0 has redefined what a beauty celebration can be, exceeding our highest expectations with over 25,000 attendees. This extraordinary festival was not just a gathering; it was a powerful convergence of creativity and community that showcased the best of global beauty. We are energized by the overwhelming response and the opportunity to connect brands and consumers in meaningful ways. As we continue to push boundaries, our commitment to elevating the beauty journey for all is stronger than ever. The future of beauty in India is looking brighter than ever!”
BookMyShow’s Chief of Business – Live Events, Owen Roncon stated, “At Nykaaland 2.0, we aimed to inspire self-expression and redefine how India engages with beauty. We hope you had a fantastic time learning from top beauty experts while enjoying vibrant music and delicious culinary delights. Nykaaland is more than just a festival; it's a lively celebration of beauty, lifestyle, and creativity. This collaboration with Nykaa underscores our commitment to delivering exceptional experiences, pushing the limits of traditional live entertainment.”
Nykaaland featured a masterclass from Sofia Tilbury with Bollywood actress Shanaya Kapoor, showcasing the popular Pillow Talk look from Charlotte Tilbury. Nykaa’s Brand Ambassador Janhvi Kapoor engaged with attendees, while other notable appearances included Prajakta Koli, Manushi Chillar, and hairstylist Yianni Tsapatori, who joined various beauty booths. Actress Tara Sutaria’s appearance at the Bobbi Brown booth drew considerable attention, adding to the festival’s lineup of beauty icons.
The event also included music performances, such as DJ sets by Oaff and Savera, Kayan, and later, international music acts, creating an energized atmosphere. A fitness session led by Erika Packard in collaboration with KICA emphasized the connection between beauty, wellness, and mindfulness. Celebrity make-up artist Patrick Ta and Romero Jennings from M.A.C Cosmetics led masterclasses on red-carpet glamour and global beauty trends, attracting beauty enthusiasts interested in expert tips.
Engagement highlights included an interactive session with social media star Sakshi Shivdasani and a segment, "Date Night" with Varun Sood, featuring grooming tips. Comedian Sumukhi Suresh presented a body-positive comedy segment by Nykd by Nykaa, adding a light-hearted perspective on beauty and confidence.
The closing day featured music from Anuv Jain, wrapping up with a special appearance by Katrina Kaif at the Kay Beauty Blush Bar booth, and an interactive session with Kriti Sanon. The festival also featured beauty sessions led by makeup artists Mehak Oberoi and Meghna Kaur, as well as skincare insights from influencers like Sakshi Sindwani and dermatologist Dr. Jaishree Sharad.
Concluding the three-day event, DJs Lynston and Gurbaxx set a dynamic tone, bringing the festival to a close with a high-energy set. Nykaaland 2.0 highlighted India’s diverse beauty industry, creating an immersive experience that bridged beauty, retail, and entertainment for the growing audience. As the event concluded, anticipation builds for the next Nykaaland edition, promising innovative trends and new experiences in the evolving beauty landscape.
SHARP Business Systems (India) Pvt. Ltd, a wholly owned subsidiary of SHARP Corporation Japan, has launched its PureFit series of air purifiers in India, which includes the PureFit FX-S120, PureFit FP-S42M-L, and PureFit FP-S40M-T/W. This new line aims to enhance air quality in Indian homes through advanced filtration technology and stylish design. The air purifiers provide protection against pollutants while improving the ambiance of living spaces.
Each model in the PureFit series incorporates SHARP’s Plasmacluster technology, which utilizes positive and negative ions to neutralize airborne contaminants, allergens, and odors. Additionally, the purifiers feature Coanda Airflow Technology, which ensures uniform air distribution throughout the room, maintaining consistent air quality. The FX-S120 model is equipped with an Electrostatic HEPA Filter that captures 99 percent of particles as small as 0.02 microns and an Activated Carbon Filter that absorbs odors.
The FX-S120 and FP-S42M-L models also include AIoT capabilities, allowing users to control them remotely via mobile devices. Smart sensors monitor air quality, humidity, and temperature, while the purifiers offer six operational modes and a Quiet Mode for comfortable sleep hours.
In line with the 'Make in India' initiative, SHARP has introduced the PureWave series of semi-automatic washing machines, which includes PureWave, PureWave Plus, and PureWave Ultra. These washing machines combine advanced functionality with a fresh aesthetic. They incorporate Japan’s 7 Shield technology for durability, Quadroniq Pulsators for thorough cleaning, HydroBlast technology for tough stains, and Wave Dry Ring technology for efficient drying. User-friendly features such as Toughened Glass and a Soft-Close Lid enhance safety and design.
SHARP has also launched a new range of Single Door and Double Door refrigerators that feature stylish designs and modern technology, including Toughened Glass Shelves and Stabiliser Free Operation, alongside the 7 Shields protection technology.
Osamu Narita, MD of SHARP Business Systems India expressed, “We are committed to our ‘Make in India’ plans and are really happy to launch the range of air purifiers and new semi-automatic washing machines and refrigerators, where we blend it with advanced technology from Japan to offer our customers products that bring convenience to their daily lives. We will continue to focus on manufacturing in India and keep on surprising our customers with stylish designs and best technology that reflects their lifestyle and let them lead simply better lives. Next year, our focus will also increase in health and well-being as Sharp India completes 25 years in India.”
Mimoh Jain, VP of SHARP Appliances Division added, "At SHARP, we never stop innovating and providing solutions that meet the changing demands of contemporary homes. The PureFit series of Air Purifiers and our new range of washing machines and refrigerators reflect our commitment to enhancing lifestyle, convenience, and overall well-being of Indian consumers. We are also extending our range in water purifiers focusing on health with our Pure Sip series of RO + UV and sippers with Nanoflux cartridge and internationally proven UFM technology."
To celebrate the festive season, SHARP is offering exclusive rewards for customers purchasing any SHARP product. Each purchase will include a gift from the Kitchen Appliances section, such as a Hand Mixer, Stand Mixer, Kettle, Sanitizer, or Water Bottle. Additionally, under the Mega Reward promotion, 15 winners will receive a Gold voucher worth ₹10,000 each, and two couples will win round-trip flight tickets to Bali.
Just in time for the festive season, bigbasket, a TATA enterprise, has partnered with Tanishq, one of India's most respected jewelry brands, to provide exclusive gold and silver coins for Dhanteras. Customers can now order Tanishq's Lakshmi Ganesh Silver Coin (999.9 purity, 10 g), Tanishq 22 Karat Gold Coin (1 g), and Tanishq 22 Karat Gold Coin with Lakshmi Motif (1 g) via bigbasket and receive them at their doorstep within 10 minutes.
Dhanteras, which kicks off the Diwali celebrations, is considered a prime occasion for purchasing gold and silver to symbolize wealth and prosperity. bigbasket’s quick delivery model ensures that customers in various cities across India can honor this tradition with ease and convenience.
Seshu Kumar, Chief Buying and Merchandising Officer, bigbasket said, “Our partnership with the Tata ecosystem and in particular the collaboration with Tanishq is very strategic for us. We have always been known as a strong player in food & perishables as a category, however, with such collaborations, we hope that our customers see value in our extended offering – whether it is Gold & Silver coins or electronics or home appliances. This Diwali, bigbasket is committed to fulfilling all our customers' Diwali wish lists in 10 mins.”
Pelki Tshering, Chief Marketing Officer, Tanishq said, “We are thrilled to partner with bigbasket to bring our exquisite gold and silver coins directly to customers' homes. Dhanteras holds immense significance, and through this partnership, we aim to make it easier for people to partake in the time-honored tradition of purchasing gold, symbolizing prosperity and good fortune.”
The collaboration underscores bigbasket’s commitment to diversifying beyond groceries, tapping into the demand for high-value items like gold and silver. With a 10-minute delivery promise, bigbasket offers an ideal blend of trust, quality, and convenience, setting itself as the go-to destination for Diwali essentials this year.
Japanese sports performance brand ASICS has inaugurated its 111th brand store at DLF Promenade, New Delhi. In a move to expand its presence in India, ASICS launched the store with a strong focus on its SportStyle category, offering a blend of apparel and footwear designed to fuse heritage and modern design. A highlight of the event was the return of ASICS’ classic SKYHAND OG sneakers after a 30-year hiatus, with Bollywood star and brand ambassador Shraddha Kapoor unveiling the iconic shoes.
ASICS' SportStyle collection brings fresh energy into contemporary fashion by bridging timeless design elements with modern trends. ASICS India plans to establish 'Eleven' SportStyle-dedicated stores nationwide, showcasing the brand’s expanded offerings alongside its core Performance Running and Core Performance Sports lines. This strategic expansion reflects ASICS' commitment to aggressively growing its SportStyle segment in India, tapping into the brand's global product portfolio, which has achieved a notable 20-25% CAGR in the Indian market in recent years.
Rajat Khurana, Managing Director, ASICS India, and South ASIA said, “Our focus on India remains clear and constant, we are right on our projected growth trajectory with our 111th store launch today, aiming to touch 120 by the end of this year, and 200th by the end of 2026. To celebrate this milestone, we bring back the iconic SKYHAND OG Sneakers with our Brand Ambassador, Shraddha Kapoor. This marks just the start of our exciting journey to introduce many more innovative products to our already in-demand SportStyle category in the evolving Indian market.”
ASICS has experienced remarkable growth in India, with around 25 percent CAGR year-on-year, largely driven by its digital sales channels. Despite this, its offline stores play a critical role, accounting for approximately 60 percent of overall business. By expanding into tier I and II cities, ASICS is positioning itself as a leading choice for customers seeking footwear for running, athleisure, cricket, tennis, and indoor sports.
"It has been an incredible journey being a part of the ASICS family. Their commitment to innovation and quality has been inspiring. I am thrilled to be here in New Delhi to celebrate the launch of ASICS’ new store as well as the classic SKYHAND OG Sneakers that make a comeback after 30 years! I fell in love with them instantly for their fluid style, versatility, and comfort,” commented Shraddha Kapoor.
Shraddha further added, “ASICS has always been a brand that aligns with my passion for fitness, wellness as well as style. I am excited as I continue to share this journey with my fans and hopefully inspire them to push their limits, move their minds to prioritize their health and well-being."
With over 1,061 sales touchpoints across India, ASICS continues to build on its impressive growth and plans to sustain this momentum in the years ahead. The opening of its 111th store in New Delhi marks a significant milestone in ASICS' journey to cement its position as a premier destination for sports and lifestyle products in India.
Apple Inc. has announced plans to establish four new retail stores across major metropolitan areas in India, including Bengaluru, Pune, Delhi-NCR, Hyderabad, and Mumbai. This retail expansion follows the launch of Apple's flagship outlets in Mumbai and Delhi and reflects the company's intent to strengthen its market presence in India.
To support the new stores, Apple intends to hire around 400 new employees, encompassing both full-time and part-time roles. In line with its staffing model, which sees 90-100 staff members at each flagship location, Apple is particularly targeting recent graduates for part-time positions to provide industry experience and bolster its talent pool. Apple India has initiated its recruitment efforts, with job listings posted for positions such as technical specialists, operations experts, and supply managers. An Apple Retail leader recently shared this update on LinkedIn, highlighting Apple’s commitment to engaging and developing local talent.
The expansion will also feature Apple's 'Today at Apple' workshops, which provide expert-led guidance and interactive product sessions for customers. This initiative is designed to create an immersive, personalized shopping experience that enhances Apple’s existing retail and online channels in India.
This expansion is part of Apple’s larger goal in India, where the company aims to generate 600,000 jobs by the end of the fiscal year. Apple's direct workforce in India is projected to reach 200,000 employees by March, with an emphasis on increasing women’s participation in its workforce.
Though India currently represents a smaller share of Apple’s global revenue, this retail expansion highlights the country’s growing strategic importance and Apple’s commitment to the evolving Indian technology landscape.
BISSELL, a global leader in floorcare appliances and a trusted name in wet cleaning solutions, has entered the Indian market. With a legacy of 148 years in innovation, BISSELL aims to enhance household cleaning in India through its advanced vacuum cleaner range. This move reflects the growing demand for efficient cleaning solutions in the retail sector.
To facilitate its entry, BISSELL has partnered with Cavitak Global Commerce, a prominent distributor in India. This partnership combines BISSELL’s global experience with Cavitak’s local market expertise, ensuring effective distribution and support for Indian customers. BISSELL products are now available exclusively on Amazon.in, with plans to launch on Flipkart soon, followed by expansions to popular electronics retail outlets like Croma, Reliance Digital, and Vijay Sales.
Both products are designed to meet the high-performance expectations of Indian consumers. BISSELL also focuses on pet-friendly solutions, with products designed to assist pet owners in managing pet hair, dander, and odors effectively.
The Portable Wet and Dry Deep Vacuum Cleaner is versatile and capable of addressing a variety of cleaning needs in Indian homes. Its powerful suction and specialized attachments help remove curry stains, dirt, dust, and allergens from carpets and upholstery, while its compact design allows for easy maneuverability in tight spaces.
The CrossWave offers a combination of dry and wet cleaning, making it suitable for homes with different flooring types. Featuring dual-action brushes and a unique cleaning solution, this vacuum effectively removes both dry dirt and wet stains, ensuring a thorough clean even on stubborn spills.
Max Bissell, President of Global Markets at BISSELL Homecare Inc stated, "We are delighted to introduce BISSELL to this dynamic market, bringing innovative cleaning solutions tailored to the unique needs of Indian households. Our wet cleaning products seamlessly blend traditional cleaning values with modern convenience and efficiency. Our commitment to innovation and exceptional cleaning solutions aligns with India's aspirations for a cleaner, healthier lifestyle. With our new range of products in India, we are confident of providing exceptional cleaning solutions that align perfectly with the needs and aspirations of Indian consumers."
India presents significant growth opportunities for BISSELL due to increasing purchasing power and heightened focus on home hygiene. The Indian market's preference for wet cleaning solutions aligns with BISSELL's expertise, enabling the company to deliver effective cleaning products that cater to the evolving requirements of consumers in India.
Godrej Consumer Products Limited (GCPL), a prominent player in the FMCG sector, recently announced its financial results for the quarter ending September 30, 2024. Despite economic pressures in India, including elevated oil costs and consumer demand challenges, GCPL has shown resilience in its retail growth across markets.
Financial Overview for Q2 FY2025
CEO’s Insights on the Quarter’s Performance
Reflecting on Q2 FY2025, GCPL’s Managing Director and CEO, Sudhir Sitapati said, “GCPL has had a steady quarter given the headwinds of oil costs and tough consumer demand in India. Our Standalone business grew by 7 percent in both volume and value and flat reported EBITDA.” He noted that high palm oil inflation impacted EBITDA margins, currently at 24.3 percent, with additional pressure from import duties on oil. Sitapati believes this impact will be short-lived, expecting margin recovery through prudent price adjustments and cost stabilization.
Indonesia delivered a solid performance, with volume and revenue growth at 7 percent and 9 percent, respectively, while EBITDA rose by 17 percent. Although GAUM experienced a weak topline, it recorded a 33 percent growth in EBITDA, improving its margin to 14.4 percent.
“While the overall quarter was 5 percent organic UVG, 5 percent organic USG, and 8 percent reported EBITDA, the topline performance in Asia and the bottom-line performance in our international businesses have been encouraging,” Sitapati added. Strong volume growth across categories like Air Care, Laundry, Incense Sticks, and Sexual Wellness has been notable, along with a positive reception for the relaunched Household Insecticides with the RNF molecule.
India Business Update
Regional Business Updates
Appointment of Amisha Jain as Independent Director
On September 25, 2024, GCPL appointed Amisha Jain as Non-executive Independent Director for a five-year term. With extensive experience in the retail and consumer sectors, including her current role at Levi Strauss and Co., Jain has a robust track record in business growth and transformation. Previously, as CEO of Zivame, she led its strategic repositioning and expansion in the women’s apparel segment. Her expertise is expected to add strategic depth to GCPL’s board.
Jain’s background includes key roles with Arvind Group, Nike India, and McKinsey and Company, along with accolades such as the ET People-Focused CEO of the Year 2024 and recognition in the Economic Times’ “40 under 40” for India’s emerging business leaders.
Swiss smart wearable maker Garmin is targeting double-digit growth in the Indian market, a key area of focus where the brand is investing heavily, according to an official from AMIT International Group (AIG), Garmin’s distributor in the country.
In addition to smart wearables, Garmin also produces marine devices for ships and boats, as well as outdoor handheld gadgets, and expects growth in this segment too.
Despite analyst projections like IDC's forecast that the Indian smart wearable market will decline by 10 percent year-on-year in Q2, dropping to 29.5 million units, Garmin remains optimistic. The brand's strong product lineup and value are driving its positive outlook, says Deepak Raina, General Manager of AMIT GPS & Navigation, India.
“India is one of the markets where we want to focus and want to invest, because of the growing middle class here, which is one of the biggest in the world,” Raina told PTI.
Post-pandemic, health awareness has surged, positively impacting business, with the brand “trying to get a double-digit growth” from the Indian market.
To reach its targets, AIG is collaborating with finance companies to offer easy payment plans for customers, enabling purchases in installments. On Wednesday, Garmin launched the Fenix 8 series smartwatches in India, starting at Rs. 86,990.
AIG, which also manages Garmin's distribution in regions like the UAE, Saudi Arabia, Bangladesh, Nepal, and Bhutan, attributes the local market decline to subpar smartwatches from other brands. “This degrowth sentiment is coming from watches, which claim to be smartwatches and not being able to fulfill the expectations and is spoiling the mood of the customer,” he said, noting, “We take this as an opportunity.”
India ranks as the second-largest wearable market after China.
AIG currently operates four exclusive Garmin stores in India and plans to expand its retail presence, with multiple new stores in the pipeline. “These shops would help elevate the Garmin experience to its customers to the next level, on which we are already working,” Raina added. Garmin is also working with 200 local dealers and is gearing up for an online presence on major e-commerce platforms to meet customer demand.
Specializing in premium smartwatches for adventurers and athletes, Garmin remains committed to delivering accurate data, something Raina emphasizes is unattainable with cheaper alternatives. The brand's Garmin Health division continues to push healthy living initiatives.
Garmin's niche offerings span fitness, outdoor, aviation, marine, and automotive OEM segments, maintaining a strong foothold in high-quality wearable technology.
Heritage Foods Limited has announced its financial results for the second quarter ending September 30, 2024. The company, known for its milk and value-added dairy products, delivered steady growth across its segments in Q2 FY25.
Heritage Foods reported a consolidated revenue of Rs 10,105 million, marking a 4.2 percent year-over-year (YoY) growth. Earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at Rs 832 million, representing a YoY increase of 7.8 percent, with an EBITDA margin of 8.16 percent, up by 335 basis points. The company’s profit after tax (PAT) surged by 117 percent YoY to Rs 486 million.
For the first half of FY25, the company posted consolidated revenue of Rs 20,522 million, reflecting a YoY growth of 7.5 percent. EBITDA grew sharply by 102.7 percent YoY to Rs 1,770 million, while the EBITDA margin improved to 8.63 percent, a 404 basis points increase. PAT for the period rose by 173 percent to Rs 1,071 million.
Heritage Foods crossed the Rs 10,000 million mark in quarterly revenues for the second time this year, supported by a 4.2 percent growth.
Milk sales volume registered a 5.11 percent YoY growth, reaching 1.19 million liters per day (MLPD). However, revenue from milk sales showed a slight dip, with an average selling price of Rs 54.59 per liter, down by 0.31 percent from the same period last year.
Value-added products (VAP) continued their strong performance, growing by 15.5 percent to reach Rs 2,977 million, contributing 29.6 percent of total revenue, up from 26.8 percent in Q2 FY24. Including ghee and butter, the VAP revenue was Rs 3,506 million, reflecting a 19.2 percent growth and contributing 34.8 percent to total revenue.
Average milk procurement increased by 11.46 percent YoY to 1.64 MLPD in Q2 FY25, although the average procurement price decreased by Rs 2.94 per liter (6.81 percent YoY) compared to Q2 FY24. In preparation for the festive season, Heritage Foods launched several consumer campaigns, such as a TV promotion for paneer and a 'scan and win' offer for ghee and sweets, contributing to the momentum in the VAP segment.
Heritage Nutrivet Limited, a wholly owned subsidiary, reported an 18 percent YoY growth in revenue to Rs 855.37 million. The subsidiary’s PAT also saw a significant rise of 117 percent YoY, reaching Rs 42.94 million.
Brahmani Nara, Executive Director of Heritage Foods, attributed the company's strong performance to strategic initiatives such as geographic expansion, enhanced supply chain networks, and a focus on value-added products. “The value-added products segment has been crucial in driving higher margins, and our marketing efforts have strengthened our brand’s position,” she stated. She also highlighted the company's ability to navigate external challenges like adverse weather conditions while maintaining operational efficiency.
The company will host an earnings conference call on Friday, October 25, 2024, at 11:00 AM (IST) to discuss its Q2 FY25 financial results. Details of the call and further investor-related information, including segment results, are available on the company's website.
Heritage Foods continues to strengthen its presence in India's retail dairy market by expanding its product offerings and focusing on value-added products, setting the stage for future growth.
Sundeep Chugh, a veteran in the fashion retail sector, has been appointed as the Managing Director for OVS India, a prominent apparel brand. This strategic move is a significant milestone for the brand as it aims to expand its footprint in the Indian market, offering stylish and inclusive fashion inspired by Italian craftsmanship.
Chugh’s appointment underscores OVS's ambition to establish a robust presence in India, a market brimming with potential for growth in fashion retail. With over 25 years of experience across various industries, he brings extensive knowledge in profit center management, retail operations, sales and marketing, channel development and expansion, product management, turnaround strategies, high-growth initiatives, and people management. His impressive track record reflects his capability to navigate complex market scenarios and spearhead successful business transformations.
Throughout his career, Chugh has built a reputation as a strategic planner with significant expertise in executing market plans, developing networks, and implementing consumer-focused business strategies. His adept approach to product management and high-level strategic planning has been crucial in meeting revenue and profitability targets for the brands he has represented.
In his prior roles, Chugh served as President of BIBA Fashion Ltd, guiding the brand through substantial growth, and as CEO of Costa Coffee India, where he was instrumental in driving the company’s expansion and market penetration. His varied background across industries and proficiency in managing large teams will be essential in shaping OVS's strategy within the competitive Indian fashion landscape.
Sundeep Chugh stated, “It is a privilege to lead the journey of OVS in India, a brand that not only delivers exceptional Italian fashion but also embodies inclusivity with its vision of ‘LOVE PEOPLE. NOT LABELS.’ I look forward to building OVS India into a brand that resonates deeply with Indian consumers while maintaining the core values of quality and inclusivity.”
With Chugh at the forefront, OVS is set to bring its renowned Italian styles to Indian consumers, introducing a fresh perspective to the fashion scene while celebrating diversity and individuality. His appointment emphasizes OVS’s commitment to achieving success in India as the brand continues its global expansion under the leadership of a proven industry expert.
Club Mahindra, the flagship brand of Mahindra Holidays & Resorts India Limited (MHRIL), has announced the launch of its latest property, Club Mahindra Pavagadh, nestled in the picturesque landscapes of Gujarat. This new resort offers members an exquisite getaway, surrounded by the serene beauty of rolling mountains and expansive agricultural fields, making it an ideal destination for nature lovers.
Strategically located near major cities such as Vadodara, Ahmedabad, Rajkot, Surat, Udaipur, Nashik, Ujjain, and Indore, Club Mahindra Pavagadh provides the perfect escape for families looking to unwind and reconnect in a tranquil environment. The region of Pavagadh is celebrated for its scenic beauty and rich cultural heritage, inviting guests to explore its natural charm and historical significance.
Spanning across 7 acres, the Club Mahindra Pavagadh Resort features 100 well-appointed rooms designed to cater to families seeking relaxation and adventure. Guests can enjoy manicured gardens, a swimming pool, and a multi-cuisine restaurant, along with ample open spaces for various activities. The resort beautifully integrates indoor and outdoor living spaces, creating the perfect ambiance for unwinding and relaxation.
Bookings for Club Mahindra Pavagadh are now available on the Club Mahindra website and mobile app, allowing members to plan their idyllic retreat with ease.
Manoj Bhat, Managing Director & Chief Executive Officer, Mahindra Holidays & Resorts India Ltd said, “This launch aligns with our brand’s commitment to creating magical moments for our members. The proximity to the UNESCO-listed Champaner-Pavagadh Archaeological Park enhances the cultural richness of the resort experience. This launch reflects our vision of delivering exceptional vacation ownership experiences that blend comfort, culture, and nature seamlessly.”
MHRIL is dedicated to providing quality family holidays primarily through vacation ownership. The company offers a 25-year membership along with other products, including Bliss, Go Zest, and Club Mahindra Fundays for corporates, all through its flagship brand.
As of June 30, 2024, MHRIL operates 114 resorts across India and abroad. Additionally, its subsidiary, Holiday Club Resorts Oy (HCR) in Finland, is a leading vacation ownership company in Europe, managing 33 timeshare properties, including 9 spa resorts in Finland, Sweden, and Spain.
Triveni Engineering & Industries Ltd. (TEIL) has officially entered the Indian-Made Foreign Liquor (IMFL) market with the launch of two premium whisky brands: Matsya Triple Reserve Blended Whisky and The Crafters Stamp Rare Artisan Blended Whisky. These new offerings aim to meet the evolving tastes of Millennials and Gen Z by providing a superior and unforgettable sensory experience.
In a recent accolade, both brands received recognition at The Spiritz Selection Awards. The Crafters Stamp was honored with "The Grand Gold" award, while Matsya took home the "Silver" in the best product category for the whisky segment priced between Rs. 501 and Rs. 1,000. The Crafters Stamp, available at Rs. 950 for a 750 ml bottle, highlights Triveni’s commitment to quality and sophistication. This carefully crafted whisky blends Scotch malts, aged in bourbon and sherry oak casks, with mature Indian malts and premium Indian grain spirits. It delivers a layered taste profile featuring floral bouquets, toffee caramel, warm oak, and summer fruits, with hints of vanilla. Each sip is a rich and complex experience, catering to those who appreciate a refined drinking experience.
The Crafters Stamp’s packaging is designed to reflect luxury, with careful attention to detail in color, materials, and embellishments. It’s a whisky that stands out on the shelf and is crafted for Millennials who are discerning sophisticated, and value authenticity.
On the other end, Matsya Triple Reserve Blended Whisky, priced at Rs. 690 for a 750 ml bottle, appeals to a new generation of whisky lovers. The blend features full-bodied Scotch malts aged in bourbon and sherry casks, combined with mature Indian malts and Indian grain spirits. Each sip delivers notes of aromatic vanilla, sherry richness, and smooth honey, creating a memorable and vibrant drinking experience that resonates with Gen Z—a demographic that embodies cool, youthful energy.
Matsya's packaging exudes a bold identity, utilizing a distinctive teal color and a fluid design to appeal to younger consumers who seek uniqueness and style. It’s a whisky crafted for those who enjoy standing out and making a statement.
These brands were launched in July 2024 across 25 districts of Uttar Pradesh, targeting the super-premium and premium segments. Triveni has ambitious plans to extend availability throughout the state by FY 2026, aiming to cover over 5,000 retail outlets. With this move, TEIL aims to establish itself as a leader in the whisky industry, offering a world-class drinking experience.
Bharat Gandhi, Vice President & Head Operations (IMFL), Triveni Engineering & Industries Ltd. added, "With Matsya Triple Reserve Blended Whisky and The Crafters Stamp Rare Artisan Blended Whisky, Triveni is targeting the growing young population of the country including Gen Z and Millennials. Both brands are strategically positioned in the premium and super-premium whisky segments, catering to a young audience that values quality, craftsmanship, and a memorable drinking experience.”
Akash Premsen, Vice President (Strategy), Triveni Engineering & Industries Ltd said, “Our entry into the Indian Made Foreign Liquor (IMFL) market with our premium brands, Matsya and The Crafters Stamp, is a natural extension of our core strengths. This venture not only strengthens our manufacturing capabilities but also enhances our longstanding relationship with Uttar Pradesh, a state rich in potential for premium whiskey. We have thoroughly crafted these brands to resonate with consumers who seek quality and innovation, moving away from the offerings of the past two decades. Our commitment to brilliance is unwavering, and we are excited to introduce these exceptional products to a new generation of customers eager for superior choices."
As the Indian whisky market continues to expand, Triveni Engineering & Industries Ltd. aims to distinguish itself with these new launches, offering an elevated drinking experience that appeals to both connoisseurs and casual drinkers alike.
Chandni Chowk, a hub famous for its bridal wear, jewelry, and wedding essentials, is currently hosting the largest-ever Chandni Chowk Wedding Festival, coinciding with the launch of a new store by Senco Gold & Diamonds. The festival, taking place at Omaxe Chowk, runs until November 10, 2024, and promises a memorable shopping experience with a wide range of wedding fashion and jewelry options from some of Chandni Chowk's most esteemed retailers. The festive atmosphere was heightened with a special appearance by actress Mouni Roy, who added a touch of glamour to the event.
During the festival, shoppers can take advantage of exclusive discounts, special offers, and a range of exciting rewards. Customers who spend Rs. 50,000 or more are eligible for a weekly lucky draw with prizes that include gold coins, LED TVs, microwaves, washing machines, and refrigerators. For those spending over Rs. 1,00,000, there’s a grand bumper prize draw scheduled for November 10, offering a chance to win a Tata Nexon or a Royal Enfield Hunter. Additionally, daily shoppers who spend Rs. 20,000 or more can participate in the "Spin and Win" activity to secure assured prizes.
Jatin Goel, Executive Director, Omaxe Group shared, “We are thrilled to host the largest wedding festival in Omaxe Chowk, especially ahead of the wedding season. This festival celebrates India’s vibrant wedding traditions, offering brides and grooms from across the country a uniquely curated shopping experience. Chandni Chowk has always been synonymous with wedding shopping, and with Omaxe Chowk as the venue partner, we are elevating this experience to new heights.”
The festival features an impressive selection of jewelry from top brands like Kalyan Jewellers, Tanishq, Malabar Gold & Diamonds, and Caratlane. For wedding attire, the festival showcases collections of exquisite lehengas and sherwanis from renowned designers such as Tasva, White Hanger, Ram Chandra Krishan Chandra, Chabbra 555, Odhni, and Koskii. This all-encompassing event ensures that every aspect of wedding shopping is covered, positioning Omaxe Chowk as the ultimate destination for comprehensive wedding preparations.
Retail giant Shoppers Stop reported a consolidated net loss of Rs. 20.59 crore for the second quarter ending September 30, 2024, attributing the downturn to weakened consumer demand. This represents a significant shift from the same period last year, where the company posted a net profit of Rs. 2.73 crore.
The company noted that while profitability took a hit, its overall revenue saw a modest uptick. Shoppers Stop's total income for the July-September quarter rose by 7.13 percent to Rs. 1,124.62 crore, compared to Rs. 1,049.70 crore in the corresponding period of the previous year. The rise in income highlights a mixed quarter for the retailer, reflecting both growth and challenges in the current economic climate.
However, the company’s operational expenses grew, with total expenditures in the September quarter reaching Rs. 1,151.31 crore. Rising costs have posed a challenge as Shoppers Stop navigates a competitive and fluctuating retail environment.
In terms of expansion, Shoppers Stop continued to invest in its retail presence, despite the soft market. Over the July-September quarter, the company added 25 new stores to its portfolio, which included 19 Intune stores focused on tech and lifestyle products, 1 new Department store, and 5 HomeStop outlets specializing in home goods and decor.
“Demand was muted in July and August, impacted by fewer wedding dates, extended rains, and overall weak discretionary spending,” said Kavindra Mishra, Executive Director and CEO, Shoppers Stop.
As of now, Shoppers Stop operates a network of 112 department stores nationwide. Additionally, the retail chain has a diversified portfolio, managing 11 premium home concept stores and 87 Specialty Beauty stores featuring prominent international brands such as M.A.C, Estée Lauder, Bobbi Brown, Clinique, Jo Malone, Too Faced, and SS Beauty. Furthermore, Shoppers Stop has expanded its reach with 50 Intune stores and 20 retail outlets located at major airports, targeting a wide spectrum of consumer needs and preferences.
On the financial markets, Shoppers Stop faced a dip, with its shares closing at Rs. 712.05 on the Bombay Stock Exchange (BSE) on Tuesday, reflecting a decline of 2.32 percent. This dip in share price mirrors the cautious sentiment among investors as the retail chain grapples with evolving consumer trends and broader economic pressures.
Lenskart, a prominent eyewear retailer, has appointed Abhishek Gupta as its new Chief Financial Officer (CFO). Gupta, who previously spent nearly a decade as the CFO at OYO, takes over from Mukti Hariharan, who recently departed Lenskart in September to assume a position with Coca-Cola. Gupta's extensive financial expertise and experience at OYO make him a strategic fit as Lenskart eyes significant growth and international expansion.
Abhishek Gupta announced his move to Lenskart via LinkedIn, revealing that he transitioned from OYO in March. As the new CFO, his responsibilities are set to include leading Lenskart’s long-term strategic planning, refining financial strategies, and strengthening corporate governance. These efforts will be crucial as Lenskart continues to cement its position in the eyewear market, both domestically and internationally. Gupta’s appointment signals the company's commitment to reinforcing its financial backbone during a period of ambitious expansion.
This leadership change follows a recent capital injection, where Lenskart raised nearly $20 million from its co-founders: Peyush Bansal, Neha Bansal, Amit Choudhary, and Sumeet Kapahi. This funding is expected to fuel further growth and innovation, allowing Lenskart to enhance its offerings and expand its global footprint. The company's aggressive pursuit of financial stability and growth is evident in these strategic moves.
Currently, Lenskart operates a vast network of over 2,500 stores, with about 2,000 of them in India, which remains the core market. Approximately 60 percent of Lenskart's revenue is generated from its Indian operations, while the remainder comes from its international presence in key markets such as Singapore, Dubai, the United States, and Southeast Asia. The company has placed a strong emphasis on both domestic and global expansion, aiming to cater to diverse markets and reach new customer segments.
Financially, Lenskart has been on a solid upward trajectory. For the fiscal year ending March 2023, the company's operational revenue surged to Rs 3,788 crore, up significantly from Rs 1,502 crore in FY22. This impressive growth was supported by stringent cost management, enabling the company to cut its losses by 37.3 percent, bringing them down from Rs 102 crore in FY22 to Rs 64 crore in FY23. The revenue jump and reduction in losses highlight Lenskart's effective business strategy in navigating the competitive eyewear market while maintaining financial discipline.
Godrej Interio, a prominent home and office furniture brand in India under Godrej and Boyce, is set to enhance its online presence by increasing its e-commerce sales. This move is part of the brand’s strategy to create a personalized shopping experience in the growing digital retail landscape.
With the Indian e-commerce industry projected to exceed $350 billion by 2030, Godrej Interio is accelerating its digital transformation to meet the changing demands of modern consumers. Over the past year, the brand has seen significant growth in online sales, driven by a rising demand for home furniture that suits contemporary lifestyles. Godrej Interio now delivers products across 17,200 pin codes, significantly broadening its reach to customers nationwide.
Dev Sarkar, Senior VP and Head of Consumer Business (B2C) at Godrej Interio stated, “Our commitment to enhancing the consumer experience is at the core of our e-commerce strategy. As the digital retail sector experiences unprecedented growth, we are focused on creating seamless online shopping journeys that reflect the quality and innovation synonymous with Godrej Interio. By leveraging advanced digital tools and personalized marketing strategies, we aim to deepen our engagement with customers across India.”
Godrej Interio is transforming its digital presence through advanced e-commerce technologies. Its website features a 'Visual Search' tool that utilizes AI to recommend products based on customer-uploaded images and home configurations. Enhanced navigation, improved product visualization, and expanded digital marketing efforts ensure a smooth shopping experience. Additionally, the website offers a furniture exchange facility where old furniture can be traded for new items. The integration of the dealer network into the e-commerce platform allows for direct ordering and nationwide delivery, improving customer access and operational efficiency.
Alongside its online initiatives, Godrej Interio continues to innovate its product offerings to cater to a diverse customer base. The brand's focus on sustainability, design, and functionality reinforces its position as a leader in the home and office furniture markets. As the e-commerce landscape in India evolves, Godrej Interio is poised to play a crucial role in shaping the future of online furniture retail.
Godrej Interio designs and manufactures furniture for various sectors, including office spaces, homes, educational institutions, and healthcare facilities. The company also provides audio-visual and comprehensive turnkey solutions, focusing on comfort and aesthetics. With a presence in over 450 cities and numerous exclusive showrooms and dealer outlets, Godrej Interio remains one of the largest divisions of Godrej and Boyce. Its seven manufacturing facilities located in Mumbai, Khalapur, Haridwar, Shirwal, and Bhagwanpur are recognized for their sustainability certifications in the furniture category.
Omaxe Group, a prominent real estate developer in India, launched the ‘DELHI ARENA’ on October 19 as part of its Commercial Project, ‘The Omaxe State.’ This facility, the first integrated sports, retail, and cultural arena in India, has already sold out its first phase.
The event attracted over 5,000 attendees and featured performances by B Praak, who entertained the audience with popular songs, and Amit Tandon, who engaged the crowd with his humor. B Praak's performances included hits like "Ranjha," "Sari Duniya Jala Denge," and "Dil Tod Ke," captivating those present.
The celebration not only marked the launch of the DELHI ARENA but also highlighted the arena's capacity of over 50,000 spectators by 2027, complete with top-tier facilities for national and international events. An award ceremony also took place, recognizing key partners for their contributions to Omaxe's success.
Located in Dwarka Sector 19B, The Omaxe State is designed as India’s first integrated 5-in-1 commercial and sporting arena. With an investment of Rs 2,500 crore, this development spans over 50 acres and aims to meet international standards for sports, shopping, leisure, and entertainment.
Omaxe has received all necessary approvals for the project. Construction is slated to commence in the first quarter of 2025, with a completion target set for December 2027.
Mohit Goel, MD of Omaxe Group stated, “The Omaxe State is not just a project; it is a vision to elevate Delhi’s sports and entertainment ecosystem. For the first time in the country, we are bringing sports, retail, and entertainment together into one integrated hub. This event marks the launch of the “DELHI ARENA” at The Omaxe State as we work towards providing Delhi with a world-class venue for major sporting events and cultural gatherings.”
The Omaxe State aims to address Delhi's long-standing need for a venue to host international sporting events, highlighted by the lack of suitable facilities since the India vs. England World Cup semi-final in 1987. The project will feature a modern ICC and FIFA-standard international cricket and football stadium with a capacity of over 30,000, alongside an international indoor multi-sport stadium for 2,000 spectators. Additionally, the complex will include an Olympic-sized swimming pool, tennis, badminton, squash, basketball courts, and facilities for new sports like paddle court and pickleball.
Developed in collaboration with the Delhi Development Authority (DDA) under a public-private partnership model, The Omaxe State is set to transform the sporting landscape of the capital, drawing inspiration from renowned international venues such as the Queen Elizabeth Olympic Park in London and the Accor Arena in Paris.
Growel's 101 Mall in Kandivali has introduced Mumbai's first botanical walk, creating an innovative green space aimed at engaging and educating visitors about nature amid the urban environment. This initiative seeks to provide a tranquil retreat while enhancing awareness of environmental issues and sustainability. The launch event was attended by students from La Stella International Montessori, who were among the first to explore this unique integration of nature and urban life.
Located within the mall, the botanical walk serves as both a visual attraction and an educational resource, offering an edutainment experience for visitors of all ages. It features a variety of plants, flowers, and herbs that underscore the importance of biodiversity and sustainable practices. During their visit, the students participated in guided tours that enriched their understanding of sustainability and the environment.
Santush Pandde, COO - Real Estate at Grauer and Weil (India) Limited (Growel’s 101 Mall) stated, “We are thrilled to be the first mall in India to launch a botanical walk, and it was wonderful to welcome the students from La Stella International Montessori as our inaugural guests. This walk is more than just an attraction; it is a place for young minds to connect with nature, appreciate its significance, and cultivate a deeper understanding of sustainability. With this initiative, we are not only offering a unique experience but also taking significant strides towards meeting our ESG goals.”
In a city like Mumbai, where green spaces are limited and the landscape is characterized by high-rises and bustling streets, the botanical walk at Growel's 101 provides a vital green space, offering a refreshing escape from the urban environment. This initiative aligns with the mall’s broader objective to contribute to the community through efforts that enhance environmental and social well-being. Growel's 101 actively involves the community through various environmental and social initiatives, encouraging local residents to participate in sustainability efforts.
The botanical walk is open to the public, schools, community groups, and students interested in botanical studies. It is designed to enhance the aesthetic appeal of the space while serving as a center for community activities, including gardening workshops and environmental awareness campaigns. This initiative represents a blend of recreation, education, and social engagement, enriching the shopping mall experience meaningfully.
Bhumika Group, a key player in India's real estate sector, has announced the appointment of Sunil Yadav as President of Leasing and Business Development. With over 20 years of experience in leasing across retail, office spaces, and hospitality, Yadav will lead the company’s leasing initiatives, further strengthening its presence in the Indian market.
Yadav has worked with renowned International Property Consultants, including Knight Frank, and organizations like the Ashok Malhotra Group and Omaxe Ltd. His expertise in creating leasing strategies and delivering high-impact projects makes him a valuable asset to Bhumika Group’s growth plans.
Uddhav Poddar, CMD of Bhumika Group, commented, “We are excited to welcome Sunil Yadav to our team. His vision and expertise in the leasing domain will boost our growth trajectory. With his extensive experience and strategic insights, we are confident that he will significantly contribute to our company's continued success.”
Siddharth Katyal, CEO of Bhumika Group added, “We look forward to the positive change Sunil Yadav will bring to our organization. His innovative approach and industry knowledge align perfectly with our vision for the future, and we are confident that his contributions will lead to new milestones for the group.”
Yadav’s appointment is expected to play a crucial role in driving Bhumika Group’s expansion, focusing on creating innovative leasing solutions and delivering enhanced commercial and retail experiences across prime locations in India.
AZORTE, a premium fashion and lifestyle brand under Reliance Retail, has launched its Fall Festive campaign, unveiling a new collection set against the backdrop of London. As part of its expansion strategy, AZORTE has opened 12 new stores across various cities in India, including Jaipur, Udaipur, Raipur, Dehradun, Gorakhpur, Ranchi, and two additional stores in Bangalore, bringing the total to five in that city. This expansion highlights the brand's commitment to increasing its retail footprint across the country.
AZORTE is focused on transforming the shopping experience in India by offering a blend of premium international trends and contemporary Indian fashion. The brand caters to men, women, teens, and children, featuring a range of products designed with both style and sustainability in mind. The latest collection incorporates innovative fabrics that are both comfortable and eco-friendly, to empower customers to express their individuality confidently. Each store showcases a curated selection of owned and co-created design lines.
Akhilesh Prasad, CEO of Fashion and Lifestyle at Reliance Retail said, “AZORTE has established itself as a premier store format catering to our premium category and has seen impressive success since its launch in 2022. We are thrilled about our expansion plans, which will allow us to reach new cities and a broader customer base. The growth we’ve experienced has been remarkable, and our vision for the brand remains focused on delivering exceptional global styles to our customers. We are committed to tapping into new customer segments and elevating their experience with fashion that truly reflects their aspirations and lifestyle."
The Fall Festive collection features contemporary cuts and timeless silhouettes, catering to consumers looking for vibrant colors and distinctive patterns for both festive events and daily wear. AZORTE’s commitment to sustainability is reflected in its use of eco-friendly materials, aligning style with environmental responsibility.
In addition to fashion, AZORTE offers a comprehensive range of products, including western and Indian wear, fashion accessories, and beauty items. The brand focuses on combining luxury with practicality, offering customers options to elevate their personal style effortlessly.
AZORTE stores are designed to provide a seamless shopping experience, enhanced by advanced technology. Features like smart trial rooms, fashion discovery stations, endless aisles, and self-checkout kiosks ensure that shoppers enjoy a convenient and innovative retail experience. With the customer at the core of its approach, AZORTE continues to strengthen its position in India's premium fashion retail landscape.
DRRK Foods, the company behind Crown Basmati Rice, is set to invest Rs 20 crore to establish a state-of-the-art facility near Mundra Port, enhancing its capacity to cater to growing demand in the global rice market. Spanning 17 acres, the new facility will pack 350 metric tons of rice per day and is expected to be operational by February 2025. This development aligns with the company's expansion strategy and its commitment to delivering high-quality rice products efficiently.
The facility’s proximity to Mundra Port will optimize logistics for DRRK Foods’ rice exports, allowing the company to better serve international markets. This move marks a significant milestone in the company's efforts to strengthen its position in India's retail sector and broaden its global reach.
Amit Marwaha, MD and CEO of DRRK Foods said, "This investment showcases our dedication to expanding our operations and delivering excellence in rice exports. With a capacity of 350 metric tons per day, this facility will play a pivotal role in meeting the increasing global demand for high-quality rice. As a brand, we remain committed to innovation, growth, and excellence in every aspect of our business."
In addition to the Mundra facility, DRRK Foods is planning another unit with a capacity of 600 metric tons per day for paddy processing, either in Haryana or Madhya Pradesh. This project will involve an investment of Rs 60-70 crore, further enhancing the company’s production capabilities and supporting its growth in both domestic and international markets.
Through these strategic initiatives, DRRK Foods aims to solidify its presence in India's retail sector while continuing to expand its global operations.
Malabar Group’s family entertainment division, Playaza, is set to make a significant expansion in its footprint across Kerala, with plans to invest Rs 42 crore in the current financial year 2024-25. The company will be launching new Family Entertainment Centres (FECs) in Centre Square Mall, Kochi, by December 2024, and in Hilite Mall, Thrissur, by March 2025.
“With the addition of these two outlets Playaza will have a geographical presence in all major cities of Kerala,” said Niyas Ahmed, Director and Chief Executive Officer (CEO), of Playaza Entertainments.
Each of the new centers will cover an expansive area ranging from 20,000 to 25,000 square feet, designed to host a variety of attractions suitable for families and children alike. These FECs will feature an array of amusement rides, engaging video games, kiddy rides, soft play areas for younger children, bowling alleys, and cutting-edge virtual reality games that are sure to captivate visitors.
Playaza's strategic expansion does not end with Kerala; the company is already looking ahead to the next financial year with plans to enter key South Indian cities. With a projected investment of Rs 60 crore, Playaza aims to establish its presence in Bengaluru, Chennai, Coimbatore, and Hyderabad, thereby extending its reach to more urban centers in southern India.
Malabar Group, the parent entity of Playaza, is widely recognized for its diverse business operations. The conglomerate has established itself as a leader in the retail, manufacturing, and wholesale sectors of jewelry, and has a strong presence in luxury branded watches market, electronics, home solutions, real estate development, entertainment, and hospitality services. With an impressive annual turnover of Rs 52,000 crore, Malabar Group continues to leverage its multifaceted business model to drive growth and innovation in each of its verticals.
Havells India announced its Q2 results on October 17, 2024, reporting a year-over-year topline growth of 16.38 percent and a profit increase of 7.69 percent. However, the company faced a notable revenue decline of 21.82 percent and a profit drop of 34.24 percent compared to the previous quarter.
Regarding expenses, Selling, General & Administrative costs decreased by 6.11 peercent from the previous quarter but rose by 28.58 percent year-over-year, indicating a challenging operational landscape for the company.
Operating income saw a significant decline of 41.6 percent quarter-over-quarter and a 4.01 percent decrease year-over-year, highlighting the pressures in the current market environment. Havells India reported an Earnings Per Share (EPS) of Rs 4.61 for Q2, representing a 16.67 percent increase year-over-year, suggesting a positive trend in profitability despite the revenue challenges.
In terms of stock performance, Havells India has returned -6.85 percent over the past week but has recorded a strong 20.88 percent return in the last six months and an impressive 31.99 percent year-to-date return, indicating strong investor confidence in the company's long-term.
TTK Prestige, India’s leading kitchen appliances brand, has announced the promotion of Venkatesh Vijayaraghavan to the position of Managing Director (MD), succeeding Chandru Kalro. Venkatesh, who previously served as CEO, brings a wealth of leadership experience from his roles at Cavinkare and Airtel.
With Venkatesh at the helm, TTK Prestige is poised to continue its growth trajectory. The company will focus on enhancing consumer satisfaction and driving innovation in its product offerings, ensuring it remains a market leader.
T.T. Jagannathan, Chairman of TTK Prestige, expressed confidence in Venkatesh's leadership, stating, “As Venkatesh steps into this role, we are confident that he will be instrumental in driving growth and bringing substantial value to the company."
Avenue Supermarts Ltd, which operates the retail chain D-Mart, reported a 5.78 percent rise in its consolidated net profit, reaching Rs 659.44 crore for the second quarter ending September 2024. This is compared to a net profit of Rs 623.35 crore from the same period last year, as per the company's regulatory filing.
The company's revenue from operations increased by 14.41 percent to Rs 14,444.50 crore during the reviewed quarter, up from Rs 12,624.37 crore in the corresponding quarter of the previous fiscal.
Avenue Supermarts' total expenses also grew by 14.94 percent, reaching Rs 13,574.83 crore. Meanwhile, its total income, including other income, rose by 14.34 percent to Rs 14,478.02 crore.
During this quarter, D-Mart expanded by adding six new stores, bringing the total store count to 377 as of September 30, 2024.
Neville Noronha, CEO & Managing Director of Avenue Supermarts, commented: “Overall H1 FY 2025 like-for-like revenue growth was 7.4 percent for 2 years and older stores. The Q2 FY 2025 like-for-like revenue growth for the same cohort of stores was at 5.5 percent.”
DMart, promoted by Radhakishan Damani and his family, retails essential home and personal products across various states, including Maharashtra, Gujarat, Telangana, Andhra Pradesh, Karnataka, Tamil Nadu, Madhya Pradesh, Rajasthan, Punjab, NCR, Chhattisgarh, and Daman.
Supermarket giant Vishal Mega Mart has filed updated draft papers with the Securities and Exchange Board of India (SEBI) for its planned initial public offering (IPO) worth Rs. 8,000 crore. The IPO will be a complete offer-for-sale (OFS) of shares by the company's promoter, Samayat Services LLP, with no new equity shares being issued, as per the Updated Draft Red Herring Prospectus (UDRHP).
Currently, Samayat Services LLP holds a significant 96.55 percent stake in Vishal Mega Mart, based in Gurugram. Since the IPO is structured solely as an OFS, the proceeds from the sale will go entirely to the selling shareholder, and the company itself will not receive any direct funds from the listing.
The updated draft comes in the wake of Vishal Mega Mart's confidential offer document, which received SEBI's approval on September 25. The company initially submitted its offer document in July under the confidential pre-filing route.
The confidential filing process allows SEBI to review the DRHP confidentially and provide feedback. Following this, the company must file an updated confidential DRHP (UDRHP-I) after incorporating SEBI’s comments, which is then made available for public review. Based on the feedback from the public, a further update, called the DRHP-II (UDRHP-II), is prepared and filed.
Vishal Mega Mart serves as a comprehensive shopping destination for middle- and lower-middle-income consumers in India, offering a range of products that includes both in-house and third-party brands across three main categories: apparel, general merchandise, and fast-moving consumer goods (FMCG).
As of June 30, 2024, Vishal Mega Mart operates 626 stores across India, supported by a mobile app and a website to enhance customer convenience.
A report from Redseer highlights that India's aspirational retail market was valued between Rs. 68-72 trillion in 2023 and is expected to grow to Rs. 104-112 trillion by 2028, with a compound annual growth rate (CAGR) of 9 percent. The shift toward organized retail is fueled by factors such as higher quality expectations, a broader product range, competitive pricing (especially in FMCG), increased urbanization, and growth opportunities for organized players.
Kotak Mahindra Capital Company, ICICI Securities, Intensive Fiscal Services, Jefferies India, J.P. Morgan India, and Morgan Stanley India Company are acting as the book-running lead managers for the IPO.
Reliance Retail Ventures Ltd, a leading player in India's retail sector, announced the formation of a joint venture with Mothercare plc, the global specialist in products for parents and young children. This partnership aims to expand the presence of the Mothercare brand across India and neighboring regions.
The joint venture will be established by Reliance Brands Holding UK Limited (RBL UK), a wholly-owned subsidiary of Reliance Brands Limited, which will hold the Mothercare brand and its intellectual property rights for India, Nepal, Sri Lanka, Bhutan, and Bangladesh.
“Under the agreement, RBL UK will hold a 51 percent stake in the joint venture, while Mothercare Global Brand Limited will retain the residual 49 percent interest,” stated the companies in a joint statement.
RBL UK will acquire its majority stake in the joint venture for a cash consideration of 16 million British pounds. “This joint venture will act as the franchisor of the Mothercare brand in the specified South Asian regions, unlocking new growth opportunities while leveraging the strengths of both organizations,” the statement added.
Darshan Mehta, Managing Director, Reliance Brands expressed, “Mothercare has been a trusted name for parents in India for years, and this joint venture marks an exciting new chapter in our partnership. I’m excited about the opportunities this new era brings as we continue to expand the brand’s presence across South Asia."
Reliance initially acquired the rights to the UK-based Mothercare brand for the Indian market in 2018 and currently operates 87 stores in 25 cities, in addition to a robust online presence.
Clive Whiley, Chairman of Mothercare, commented on the development, stating, “Today’s agreement strengthens our operations in South Asia through an even closer working relationship with Reliance, our existing valued franchise partner, and underlines the intrinsic value of the Mothercare brand strength.”
This strategic move further solidifies the collaboration between Reliance and Mothercare, aiming to enhance the brand's footprint and customer reach in the growing markets of South Asia.
Jaipur-based home decor and furniture brand Wooden Street has announced the launch of its 101st store, just days after celebrating the opening of its 100th outlet in Udaipur. The company shared this milestone highlighting its rapid expansion across India.
The newly opened store, spanning 4,000 square feet, is located on the third floor of Phoenix United Mall in Lucknow. This marks Wooden Street's second outlet in the city, complementing its existing store in Gomti Nagar.
“We are excited to open our second store in Lucknow, marking our 101st store in India. After witnessing the success of our Gomti Nagar outlet, it was clear that expanding to another prime location in the city is the right step,” said Lokendra Ranawat, chief executive officer of Wooden Street.
The company is committed to expanding its reach even further, with plans to open more stores in both metro and tier-2 cities in the coming years, according to the release.
Founded in 2015, Wooden Street has grown to serve over one million customers, offering a diverse range of more than 30,000 furniture, decor, and furnishing products. The brand's presence extends both online and through its network of physical stores in cities like Bengaluru, Mumbai, Hyderabad, Chennai, Pune, Delhi NCR, Jaipur, and Ahmedabad.
To support its operations, Wooden Street also runs over 20 warehouses, has 15 lakh square feet of manufacturing facilities, and operates more than 350 delivery hubs across the country.
In a report by IndiaRetailing in September 2023, the retailer announced its ambitious plan to open 300 stores across India within the next 36 months, with a revenue target of Rs 50 million, further solidifying its position as a leading name in the home decor and furnishing industry.
US retail giant Walmart recently announced that it is boosting its food and snack product range by adding popular Indian brands like Bikano, Britannia, and Jayanti Spices to its offerings in the US. This expansion comes just in time for the festive season, with the aim of enhancing the Diwali shopping experience for its American customers.
The Bentonville-based retailer has set an ambitious goal of sourcing $10 billion worth of goods from India annually by 2027, underscoring its commitment to strengthening ties with Indian suppliers.
The newly introduced food and snack items are specifically curated to cater to Diwali celebrations. “Together, they will supply a diverse range of well-loved snacks and food products to Walmart’s US customers,” Walmart said in a statement. It highlighted that the new lineup includes “premium tea, ready-to-eat and frozen foods, traditional snacks, spices, and festive packs.”
Britannia and Bikano, two of India’s leading food companies, will have their products featured during this Diwali season, joining other brands like Regal Kitchen and VAHDAM, which are already available to Walmart's US customers.
Under Walmart's Great Value brand, Jayanti Spices and Hyfun Foods will also be offering a variety of products to American consumers. Andrea Albright, Executive Vice President of Sourcing at Walmart, said: “As part of our goal to increase exports from India to $10 billion per year by 2027, we are excited to bring a taste of India’s rich culture and traditions to our customers in the US during the holiday season and beyond.”
These Indian food products will be available in Walmart’s US stores, Sam’s Club locations, and online through Walmart.com, making it easier for customers to access these festive treats.
Britannia Industries will offer a selection of its popular items, including Bourbon chocolate cream-filled biscuits, Good Day cookies, and classic Milk Rusk. In addition, Britannia will also provide family packs at select Walmart stores in the US.
From the house of Bikano, two special festive packs — Abhinandan and Shahi Nazrana — will be introduced to select US stores, featuring traditional Indian delicacies like Soan Papdi and Gulab Jamun.
Coimbatore-based Jayanti Spices has made a significant mark in the US market with its range of spices under Walmart’s Great Value private label. The selection includes onion powder, garlic powder, cinnamon powder, crushed red pepper, parsley flakes, black pepper, and cinnamon sticks, all bringing the flavors of India to American kitchens.
VAHDAM, a well-known premium brand specializing in tea, spices, and herbs, has also established itself as a favorite among Walmart’s US customers. The brand offers a broad array of spices and tea products, such as Turmeric Ashwagandha, Turmeric Ginger, Turmeric Citrus Ginger, and a variety of turmeric tea packs, all available at Walmart stores.
Hyfun Foods, a frozen foods brand based in Gujarat, is making its debut in the US market under the Great Value label. Walmart customers will now be able to purchase items like tater tots and seasoned hash browns at competitive prices, adding to the diversity of Indian offerings in the frozen foods aisle.
With these additions, Walmart continues to strengthen its ties with Indian brands, offering its US customers an authentic taste of India's culinary traditions, especially during the festive season.
Blinkit, the quick-commerce arm of Zomato, is expanding its retail offerings by introducing a new feature that allows customers to return or exchange clothing and footwear within 10 minutes of delivery. This move addresses "size anxiety," a prevalent issue in the fashion industry, and aims to enhance the overall customer experience in Blinkit’s growing retail portfolio.
Albinder Dhindsa, Blinkit’s Co-Founder, announced the feature on X (formerly Twitter), highlighting its potential to resolve size-related challenges within the fashion segment. The new return/exchange policy was first tested in Delhi-NCR and has since been extended to other major cities including Mumbai, Bangalore, Hyderabad, and Pune, with plans for future expansion.
This initiative is part of Blinkit's broader strategy to diversify its quick-commerce model. Traditionally focused on groceries, Blinkit is now extending its range to include apparel, home appliances, beauty products, and electronics, reflecting a shift in consumer expectations for faster delivery times across categories.
The new policy also places Blinkit in direct competition with other players in the quick-commerce space, such as Instamart and Zepto, which are diversifying into similar product categories. Zepto, Blinkit’s main competitor, offers a 72-hour return policy for defective or damaged apparel, marking a growing trend in the sector where quick-commerce platforms are beginning to blur the lines with traditional e-commerce models.
As Blinkit and its competitors expand into the fashion market, they are now stocking products from major brands such as Adidas, Pepe, FabIndia, Jockey, Boldfit, XYXX, US Polo Association, Paragon, and Liberty. This move highlights the increased interest and investment in the retail fashion space by quick-commerce platforms.
Walmart is strengthening its retail operations by expanding its sourcing from India, introducing food and snack products from popular Indian brands to U.S. markets ahead of Diwali. This move supports Walmart’s aim to offer diverse food options to its U.S. customers and is part of the company’s broader strategy to increase imports from India, a key focus in its retail operations. Brands like Britannia, Bikano, VAHDAM, Jayanti Spices, and HyFun are among those making their products available to U.S. consumers.
The assortment includes a wide range of Indian snacks, spices, ready-to-eat, and frozen foods, catering to Diwali celebrations as well as staples that are commonly found in American households. Walmart aims to offer items such as premium tea, traditional snacks, spices, and festive packs through this new initiative.
Britannia, one of India’s most recognized food brands, will introduce a selection of biscuits to U.S. stores, including Bourbon chocolate cream-filled biscuits, Good Day cookies (available in Butter, Cashew, and Pistachio-Almond flavors), and Milk Rusk. These will be available during Diwali, with family packs also sold in select Walmart locations.
Bikano, known for its Indian snacks, will present two Diwali festive packs, Abhinandan and Shahi Nazrana, which include traditional Indian savories, mixtures, and sweets like Soan Papdi and Gulab Jamun.
In addition to Diwali offerings, other pantry items such as spices and herbs from Indian suppliers are also being introduced. Jayanti Spices, based in Coimbatore, will provide products under Walmart’s Great Value private label. The range includes onion powder, garlic powder, cinnamon powder, and other spices commonly used in Indian cooking.
VAHDAM, a premium Indian brand specializing in tea, will continue to be available at Walmart, offering a variety of tea products and spices such as turmeric, ginger, and clove. VAHDAM’s Turmeric Ashwagandha and Turmeric Ginger teas will be among the available options.
HyFun, a frozen foods brand from Gujarat, will also be sold under Walmart's Great Value brand, offering products like seasoned hash browns and tater tots.
Regal Kitchen’s Reganic brand will introduce its ready-to-eat Cilantro and lime-cooked rice, which will be available at Sam’s Club in the U.S.
Walmart is not only forging new supplier relationships but also strengthening existing partnerships. Bectors Food Specialties Ltd, which supplies the popular Danish Butter Cookies, will continue to have its products available in Walmart’s U.S. stores during the holiday season.
This expansion in food sourcing from India aligns with Walmart's goal to increase exports from India to $10 billion annually by 2027. Food continues to be a priority category for Walmart, driven by growing demand from consumers in the U.S. and globally. Through collaborations with Indian suppliers, Walmart aims to bring unique products to its 255 million customers worldwide.
Crossword Bookstores, a prominent homegrown bookstore chain in India, has proudly announced the opening of its 111th outlet in Mumbai. Spanning an impressive 1,000 square feet of retail space, the new store is strategically located within Oberoi Mall, Goregaon, catering to the area's growing community of book enthusiasts.
“We are delighted to bring Crossword to Goregaon and cater to the growing community of book lovers in the area. This is also our 111th store, which makes it extra special for us and reflective of our commitment to creating a fostering community space where people can connect with books and explore the world of literature,” shared Aakash Gupta, chief executive officer of Crossword Bookstores.
With this latest opening, Crossword Bookstores is continuing its expansion efforts, with plans for five to six additional stores slated to open this quarter. The upcoming outlets will include a mix of company-owned stores and franchisee locations, showcasing Crossword’s strategic approach to growth and its commitment to making books accessible to more readers across India.
Established in 1992, Crossword Bookstores began its journey in Mumbai with its first outlet at Kemps Corner. Over the years, the brand has evolved significantly. In 2005, it became a wholly-owned subsidiary of Shopper’s Stop Ltd., a leading department store chain in India. However, in 2021, Shopper’s Stop sold Crossword to Agarwal Business House (ABH), paving the way for a new chapter in its growth story.
In addition to its latest store opening, Crossword Bookstores recently celebrated a significant milestone in September 2023, marking the opening of its 100th store at the Phoenix Mall of the Millennium in Pune. This achievement highlights the brand's dedication to expanding its footprint and solidifying its presence in the competitive retail landscape.
Indri Diwali Collector’s Edition 2024, produced by Piccadily Agro Industries Limited, has earned a Gold Medal at the Whiskies of the World Awards 2024, reinforcing its status as a top-tier single malt. This award, given for the second consecutive year, highlights the distinct craftsmanship and Indian character of the whisky. The win showcases India’s growing influence in the premium spirits market, especially within the retail sector.
The Indri Diwali Collector’s Edition 2024 stood out for its signature flavors of light fruits, floral notes, and subtle spice. Competing against global whisky brands, it impressed the judging panel, which included experts from the beverage industry. The award adds to Indri’s growing reputation for producing innovative and high-quality Indian single malts that meet international standards.
The Whiskies of the World Awards is a prestigious competition that annually judges whiskies from around the world based on aromatics, flavor, and finish. Using a 100-point scale, top critics and industry leaders determine the winners, making this accolade a significant achievement for Indri.
Siddhartha Sharma, Promoter of Piccadily Agro Industries Limited said, “We are extremely proud to have upheld our legacy with the 2024 edition, which continues to push boundaries and cement Indri’s place as a global leader in premium whisky craftsmanship. Indri's latest triumph at Whiskies of the World Awards, coupled with our position as the world's fastest-growing single malt brand, marks a pivotal moment in our strategic journey. This recognition reflects our commitment to producing world-class whiskies that highlight the richness of Indian terroir, while continuing to innovate with each new expression."
The success of Indri’s Diwali Collector’s Edition 2024 further solidifies India’s role in the global whisky market, reflecting the growing presence of Indian single malts in retail. The latest edition was crafted using peated Indian six-row barley, distilled in Indian-made copper pot stills, and matured in sherry casks. It offers a balanced blend of peat and sherry notes, with flavors of dates, raisins, caramel, and soft spice.
Indri Diwali Collector’s Edition 2024 will be available in Gurugram, Haryana, starting October 25th, with a market price of Rs 15,000. This limited release is expected to attract whisky enthusiasts, strengthening India's position in the international whisky market.
DRIVE FITT, India’s first 24/7 member-based gym facility integrating fitness and cricket, has appointed Vikram Aditya Bhatia as its new Chief Executive Officer. With over 30 years of leadership experience in the global fitness industry, Bhatia will spearhead the company's operations, aiming to expand DRIVE FITT’s footprint across India while strengthening its commitment to delivering top-tier fitness experiences. His role will be crucial in driving the company’s strategic vision and future growth.
Bhatia’s extensive career in the fitness industry includes leadership roles in multiple countries. A former national tennis player for India, he served as Managing Director of Fitness First India and led the establishment of Fitness First in the Middle East. His experience spans markets in Southeast Asia, the UK, Europe, Australia, and India, where he has led several transformative initiatives. Notably, he facilitated the sale of Fitness First India for Oaktree Capital, a leading global hedge fund.
Over the years, Bhatia has designed state-of-the-art fitness clubs globally and has been an advisor to numerous industry forums. His achievements include mentoring startup founders across India and Southeast Asia. His contributions to the fitness industry were recognized in 2022 when he was inducted into the Hall of Fame for a world-leading Virtual Fitness Platform.
“I’m excited to join DRIVE FITT, where we’re making fitness and cricket more accessible for enthusiasts. In India, cricket holds deep emotional value but few have access to play it in a convenient, organized setting. DRIVE FITT will change that by offering dedicated, structured environments in well-designed real estate—whether mixed-use or multi-family—allowing enthusiasts to immerse themselves in the game. Our mission is to meet the demand for accessible cricket and fitness experiences. With DRIVE FITT, we aim to ‘PVR-ise’ cricket, multi-format fitness, and recovery. We’re also introducing a unique ‘running room,’ crucial to both cricket and fitness, blending sport, recovery, and social self-care in a new way,” said Vikram Aditya Bhatia, CEO of DRIVE FITT.
Mark Sellar, Co-Founder and Chairman of DRIVE FITT said, “We’re thrilled to have Vikram Aditya Bhatia join DRIVE FITT as CEO. His extensive experience in building high-performance fitness brands and his passion for sport align perfectly with our vision. Together, we’re creating a unique space where fitness and cricket enthusiasts can thrive. Vikram’s leadership will be pivotal as we scale DRIVE FITT across India and internationally, bringing world-class fitness experiences to communities everywhere.”
Deke Smith, Co-Founder and MD said, “Vikram’s proven track record in the global fitness industry makes him the ideal leader for this next phase of growth. At DRIVE FITT, we aim to innovate the way people engage with fitness, blending sport, recovery, and social well-being. With Vikram at the helm, we’re confident we’ll set new standards in the industry, delivering unparalleled value to our members and driving the future of fitness in India and beyond.”
DRIVE FITT looks forward to the impact Vikram Aditya Bhatia will bring as CEO, as the company prepares to revolutionize the intersection of cricket, fitness, and wellness in India. Under Bhatia’s leadership, DRIVE FITT is set to become a unique platform for fitness enthusiasts and sports lovers alike.
Bikaji Foods International Limited, one of India's largest ethnic snack brands, has announced a strategic move into the Quick Service Restaurant (QSR) segment with a key retail acquisition. Its wholly owned subsidiary, Bikaji Foods Retail Limited (BFRL), will invest Rs 131.01 crore to acquire a 53.02 percent stake in Lucknow-based café and artisanal sweets brand, Hazelnut Factory Food Products Private Limited (The Hazelnut Factory). This investment will be executed in tranches over the next two years, marking Bikaji's expansion into premium bakery and café offerings, catering to evolving consumer preferences in India’s retail market.
This acquisition allows Bikaji to diversify its product portfolio, adding artisanal bakery items and café-style food to its offerings. The Hazelnut Factory currently operates six stores in Lucknow, with one each in Kanpur and Delhi, offering specialty coffee, artisanal sweets, and a variety of bakery and café items.
Deepak Agarwal, MD of Bikaji Foods International said, “This acquisition marks a significant step in Bikaji’s journey to expand beyond traditional ethnic snacks and enter into retail QSR, premium artisanal sweets, and the bakery segment. By integrating The Hazelnut Factory’s premium offerings with Bikaji’s manufacturing capabilities, we aim to cater to unique customer tastes and preferences, establishing Bikaji as a key player in the QSR space.”
The acquisition also supports Bikaji’s strategy of building a "House of Brands" by creating opportunities for cross-selling, a diverse customer base, and expanded market presence. Ankit Sahni, Founder of The Hazelnut Factory added, "With our innovative culinary offerings and Bikaji's strong distribution network and operational excellence, we are well-positioned to accelerate our growth."
This move comes as the QSR segment in India, particularly in tier-ll and tier-lll cities, is seeing rapid growth due to urbanization, a young population, and the rise of food aggregators. By acquiring The Hazelnut Factory, Bikaji is strategically positioning itself to tap into this fast-growing market.
Beauty and personal care retailer Nykaa, one of India's leading marketplaces, has allotted 3.08 lakh equity shares under its employee stock option plan (ESOP) schemes, according to an exchange filing. These shares will rank pari-passu, meaning on equal footing, with the company’s existing equity shares in all respects.
Based on Nykaa's opening price of Rs 193 per share on the NSE, the ESOP allotment is valued at Rs 5.94 crore.
Earlier, Nykaa had undertaken a similar allotment of 4.05 lakh ESOPs ahead of its Q4 FY 2024 results. In subsequent months, the company allotted 4.73 lakh shares in June and 1.73 lakh shares in July. Nykaa competes with players like Reliance-backed Tira and Purplle, which is supported by the Abu Dhabi Investment Authority. The company anticipates a "mid-twenties" revenue growth for the second quarter of FY25.
“However, consumption has witnessed subdued demand in the first half of this financial year but the industry expects to see gradual revival during the second half, driven by the festive and wedding season,” Nykaa said in an exchange update. The beauty segment recorded mid-twenties growth in net revenue and net sales value, while the gross merchandise value (GMV) for the segment showed stronger growth.
MovieMax Cinemas has opened its latest three-screen multiplex at Mariplex Mall, Kalyani Nagar, in Pune, marking the brand’s second multiplex in the city. This expansion aligns with MovieMax’s growth strategy to enhance its retail footprint across India, offering premium cinematic experiences to a wider audience. Equipped with advanced 2K projection technology and Dolby 7.1 Surround Sound, the new venue aims to provide top-quality movie experiences.
Ashish Kanakia, CEO of MovieMax Cinemas said, “Pune has a deep-rooted love for cinema, and we’re thrilled to offer a venue that combines cutting-edge technology with luxury and comfort. Our Mariplex Mall property delivers stunning visuals, crystal-clear sound, and a variety of food and beverage options to make each visit unforgettable. As part of our growth strategy, we’re committed to making luxury cinema accessible to everyone. We aim to offer top-tier technology, comfort, and a wide range of food options to moviegoers across India.”
The multiplex features modern digital kiosks at the box office for quick ticket bookings, streamlining the customer experience. The box office and lobby, designed with contemporary aesthetics, complement the venue’s focus on convenience and comfort. Patrons can easily purchase or retrieve pre-booked tickets, enhancing the overall experience.
In addition to its functional design, the lobby features vibrant seating and carefully curated lighting, creating a welcoming space for guests before and after their movie. The food and beverage offerings include a range of options, from pizzas and nachos to healthy alternatives, available at the sleek concession stands.
The auditoriums are designed with guest comfort in mind, offering spacious seating with excellent sightlines. Each auditorium showcases dynamic wall designs that celebrate cinema, while also delivering an immersive and modern viewing experience.
For those seeking additional luxury, the multiplex includes a premium section with extra amenities, as well as interactive selfie corners for added entertainment.
This new location forms part of MovieMax’s wider expansion efforts, aimed at bringing premium cinematic experiences to both metro and Tier ll and Tier lll cities. Recently recognized as the Fastest Growing Cinema Chain of the Year at the IMAX Big Cinema Awards 2024, MovieMax continues to establish itself as a leader in luxury cinema across India.
India Circus by Krsnaa Mehta, a Godrej Enterprise Brand, has launched its new fashion vertical, marking a significant step in the brand’s expansion into the retail space. Known for its distinctive fusion of traditional Indian motifs with modern aesthetics, India Circus is now applying its signature artistry to clothing. The new collection aims to offer stylish, comfortable apparel while staying deeply rooted in India’s rich cultural heritage.
This fashion line blends cultural tradition with contemporary design, featuring a variety of clothing items such as co-ord sets, kurtis, kaftans, men’s shirts, and scarves. Each piece incorporates motifs inspired by India’s diverse culture, including elements drawn from nature, architecture, and traditional art forms. Whether it’s bold floral prints or intricate geometric patterns, the designs offer a blend of heritage and modern wearability.
Krsnaa Mehta’s fashion collection is more than just apparel—it reflects a fusion of personal style and an acknowledgment of India’s artistic legacy. With every garment, India Circus invites consumers to celebrate tradition while embracing the future of fashion.
Krsnaa Mehta, Founder shared, “Our customers have long intended for our prints on clothing and here we are with our debut, we look forward to much more than this and exploring horizons with each day.”
As India Circus continues to expand its retail presence, this new fashion line presents another opportunity for the brand to connect with its audience in a fresh, culturally resonant way.
Pepperfry, a major player in India's retail furniture and home décor sector, has announced a strategic collaboration with Infra.Market, a leading provider of construction materials in India, through its in-house brand IVAS. This partnership aims to enhance customer experience by offering a wide range of products and services under one roof. The collaboration will see Pepperfry's products available in Infra.Market stores and IVAS products featured in Pepperfry locations, creating a one-stop solution for home furnishings, décor, and building materials.
From October onwards, Pepperfry will roll out its Store-in-Store (SIS) formats at Infra.Market locations in cities including Bengaluru, Hyderabad, Pune, and more. Simultaneously, IVAS will provide modular furniture products in existing Pepperfry stores across cities such as Mumbai, Pune, and Kolkata. This partnership allows consumers to access furniture, mattresses, home décor, renovation services, and construction materials, all in a seamless shopping experience at these retail outlets in India.
Over the next three months, Pepperfry plans to open more than 20 SIS formats in Infra.Market locations, while IVAS will further expand its presence in Pepperfry stores. This strategic move is set to meet the growing demand for integrated home and construction solutions, offering products from multiple brands and categories in one location.
Ashish Shah, Co-Founder and CEO of Pepperfry said, “This partnership with Infra.Market and IVAS reiterates our mission to deliver a comprehensive and seamless home solutions experience to our customers. With this collaboration, we can leverage each other’s extensive store network and supply chain infrastructure to provide a one-stop destination for all home needs, from furniture and home décor to tiles, electricals, and sanitaryware."
IVAS, powered by Infra.Market, provides a wide range of construction products, including tiles, slabs, sanitaryware, lighting, and modular kitchens. Aaditya Sharda, Co-Founder of Infra.Market said, "Our collaboration with Pepperfry enhances our commitment to providing comprehensive solutions to homeowners by bridging construction and furnishing needs."
Through this partnership, Pepperfry and Infra.Market aim to simplify the home-building and renovation process, offering customers an integrated retail experience that addresses both construction and home furnishing needs across India.
Reliance Industries Ltd (RIL), led by Mukesh Ambani, released its financial results for the second quarter of the fiscal year 2024-25 (Q2FY25) on October 14. The company reported mixed performance, with growth in its retail and digital services segments, while challenges persisted in its oil-to-chemicals (O2C) business. In the retail space in India, RIL continues to expand its operations and maintain a strong presence.
The conglomerate reported a 4.8 percent decline in profit, posting Rs 16,563 crore compared to Rs 17,394 crore in the same period of the previous year. Revenue from operations slightly increased to Rs 235,481 crore, up from Rs 234,956 crore in Q2FY24.
Performance Highlight
In Q1FY25, Reliance posted a profit of Rs 15,138 crore, down 5.5 percent year-on-year from Rs 16,011 crore in Q1FY24, while revenue was Rs 236,217 crore. The Q2 financial results came after RIL’s announcement on October 7, where it outlined plans to hold a board meeting to consider the financial results for the quarter and the half-year ending September 30, 2024.
Media and Entertainment Business
Reliance’s media business saw a 2.1 percent drop in operating revenue, largely due to a decline in its movie segment, which is project-based. The News portfolio, however, grew by 6 percent, driven by the digital segment’s advertising revenue. Despite this, the television advertising environment remained weak, with volumes declining by over 20 percent year-on-year. Viacom18 Studios, a part of RIL’s entertainment business, experienced a 5 percent revenue drop, primarily due to the absence of major film releases in Q2FY25 compared to two big releases in Q2FY24.
Oil and Gas Segment
The Oil and Gas segment witnessed a 6 percent drop in revenue due to lower price realizations, partially offset by increased volumes in the KGD6 and CBM fields. The average price for KG D6 gas was $9.55/MMBTU in Q2FY25, down from $10.46/MMBTU in Q2FY24. EBITDA in the segment increased by 11 percent, reaching Rs 5,290 crore, with an EBITDA margin of 85 percent.
Oil-to-Chemicals (O2C) Business
The O2C segment posted a 5.1 percent year-on-year revenue increase to Rs 155,580 crore, driven by higher volumes and increased domestic product placement. However, segment EBITDA fell 23.7 percent year-on-year to Rs 12,413 crore, impacted by an unfavorable demand-supply balance and declining margins in transportation fuel and downstream chemicals.
Retail and Digital Services
The retail segment continues to expand, with 464 new store openings in Q2, bringing the total store count to 18,946 and operational space to 79.4 million sq ft. Mukesh Ambani emphasized the importance of expanding consumer touchpoints and product offerings said, “The retail business continues to partner with renowned domestic as well as global players, expanding its basket of quality product offerings.”
Isha Ambani, Executive Director of Reliance Retail Ventures added, “Reliance Retail continues to make investments in technology and infrastructure to build a strong foundation for future growth.”
Reliance Retail posted Q2 revenue of Rs 76,302 crore, down 1.1 percent year-on-year, with EBITDA slightly rising by 0.3 percent to Rs 5,850 crore. Footfall increased by 14 percent year-on-year to over 297 million, and the registered customer base grew to 327 million.
In the digital services segment, Reliance Jio recorded revenue growth of 17.7 percent year-on-year, with Q2 revenue at Rs 37,119 crore. EBITDA grew by 17.8 percent to Rs 15,931 crore, driven by increased average revenue per user (ARPU) of Rs 195.1. Jio’s subscriber base grew by 4.2 percent to approximately 479 million.
Mukesh Ambani highlighted the robust growth in digital services and the resilience of RIL’s diversified portfolio said, “Our performance reflects robust growth in Digital Services and Upstream business, which helped partially offset weak contribution from O2C business.”
Future Outlook
Reliance continues to focus on scaling up its retail and digital businesses. Capital expenditure for Q2FY25 stood at Rs 34,022 crore, with consolidated revenue at Rs 258,027 crore. Despite challenges in certain sectors, RIL remains optimistic about its growth trajectory in India, especially in retail and digital services.
Tira has announced the launch of a new collection of luxury candles by renowned designers Abu Jani and Sandeep Khosla, expanding its presence in India's retail and beauty market. The exclusive candle range combines fragrance, design, and craftsmanship, offering consumers luxury and self-care.
Inspired by India’s rich royal heritage, the collection is designed to enhance both personal spaces and daily rituals. The candles are crafted from a premium soy wax blend and come in five distinct fragrances, each reflecting elements of indulgence and relaxation. Whether used during self-care routines or to create a calming environment, these candles embody a refined sense of comfort and beauty.
The launch of this designer candle collection aligns with Tira’s strategy to bring premium experiences to the Indian retail and beauty sector, offering customers more than just a product—each candle serves as a reminder to unwind and enjoy life's simple moments.
Tata Electronics has announced the appointment of Dr. Bobby Mitra as Chief Information Officer (CIO) and President of AI and Digital Transformation, a strategic move that will enhance its efforts in the retail and technology sectors in India. Dr. Mitra will spearhead enterprise-wide initiatives across key business areas, including Electronic Manufacturing Services, Semiconductor Assembly and Test, Semiconductor Foundry, and Design Services. His leadership is expected to play a crucial role in Tata Electronics' focus on AI-driven manufacturing, particularly in the development of India's first semiconductor Fab in Dholera, Gujarat, and the country’s first indigenous semiconductor assembly and test facility in Jagiroad, Assam.
Randhir Thakur, MD and CEO of Tata Electronics said, "We are pleased to welcome Bobby to Tata Electronics. He will focus on advancing Tata Electronics' technology and manufacturing capabilities using AI and digital systems. His deep knowledge of smart manufacturing and the digital ecosystem will be key to delivering value to our customers."
Mitra brings extensive global experience in smart manufacturing and industrial systems, having previously held leadership roles at Texas Instruments, where he was President and Managing Director of the India branch. He also served as Managing Director at Deloitte Consulting, where he guided advancements in manufacturing and supply chain. Dr. Mitra is a Fellow of the IEEE, Global Chair of SEMI Smart Manufacturing, and has held prominent positions in the India Electronics and Semiconductor Association (IESA) and the VLSI Society of India.
Dr. Bobby Mitra said, "Tata Electronics is focused on deploying extensive use of automation, AI solutions, and digital platforms in its manufacturing facilities. I am looking forward to using my broad experience in the semiconductor industry to help shape the factories of the future at Tata Electronics."
Mitra holds a B.Tech in Electronics and Electrical Communication Engineering and a Ph.D. in Computer Science from IIT Kharagpur, along with an Executive MBA from the University of Texas, Austin. His appointment reinforces Tata Electronics' commitment to advancing AI and digital transformation in India's growing retail and technology industries.
Stone Sapphire India Pvt Ltd has appointed Nina Singh as its new Chief Operating Officer (COO). Singh, who has previously served as Whole Time Director and Head of Sales Operations, will now oversee the company's Sales Coordination, Operations, and Supply Chain functions, including its factory and warehouse operations. This leadership change aligns with Stone Sapphire’s strategic focus on enhancing its retail operations and expanding its footprint across India.
Singh brings extensive experience in supply chain management, honed during her training in Shanghai. Over two years, she gained valuable insights while working with brands such as Disney, Marvel, Kmart, Costco, and Hallmark, acquiring essential shop floor experience. With over seven years of managing factory operations and logistics, Singh is well-equipped to lead the company’s ground operations. Her first-hand experience in handling various operational tasks has given her a deep understanding of factory management and logistics execution, enabling her to drive efficiency in production processes and supply chain alignment.
In her new role, Singh will oversee operations across a diverse range of product categories, including stationery, toys, homeware, and sports equipment. She will focus on streamlining processes, maximizing profitability, and ensuring the swift execution of sales orders. Additionally, she will be responsible for approving all purchase orders, both domestic and international, reinforcing Stone Sapphire’s commitment to maintaining strong procurement practices and operational efficiency.
Singh said, "I am honoured to take on this new responsibility and look forward to working closely with our dedicated team to drive operational excellence, optimize our supply chain, and deliver exceptional value to our customers. My experience on the ground has given me a holistic view of our operations, and I am committed to leveraging this insight to propel Stone Sapphire to new heights."
Stone Sapphire India is set to expand into the fast-moving consumer goods (FMCG) segment and additional household categories, aiming to capture a larger share of the Indian retail market. This move aligns with the company's mission to introduce value-driven brands that cater to the evolving needs of consumers in India.
Kisanserv, a rapidly growing bootstrapped retail company specializing in fresh fruits and vegetables, has announced a strategic partnership with Milky Mist, one of India's leading dairy brands, to expand its product line. This collaboration will bring over 200 Stock Keeping Units (SKUs) of premium dairy products, all made from 100 percent cow’s milk, to Kisanserv's convenience retail stores in Pune and Mumbai.
This move is a significant step for Kisanserv as it continues to meet the growing customer demand for fresh daily essentials and accelerates its expansion plans. By adding Milky Mist's dairy products, including milk, curd, paneer, butter, ghee, ice creams, and chocolates, Kisanserv aims to create a one-stop shopping experience for customers, eliminating the need to visit multiple stores.
Niranjan Sharma, CEO, Kisanserv said, "Our customers have long demand of dairy products alongside fresh fruits and vegetables. With a strong customer base, introducing dairy is a natural step that will enhance convenience and boost both revenue and profit margins. Our association with Milky Mist aligns perfectly with our vision, creating a strong synergy between the two companies. Milky Mist’s revenue reached Rs. 2,000 crore last year, and both companies have aggressive growth plans for the coming years. Milky Mist’s ambitions in India, along with Kisanserv’s focus on expansion in Western India will mutually benefit both businesses.”
The partnership with Milky Mist, a brand with a proven track record and Rs. 2,000 crore in revenue, aligns perfectly with Kisanserv’s ambitious growth strategy. This collaboration is expected to play a key role in Kisanserv's plans to scale up to 250 stores and achieve Rs. 500 crore in revenue over the next four years.
Kisanserv’s direct approach to sourcing fresh produce from farmers and its streamlined supply chain has already set a high standard in the industry. The addition of premium dairy products from Milky Mist is expected to further elevate the shopping experience while also driving increased sales and stronger profit margins. The company’s stores are currently generating ₹41,000 per square foot per year, a figure that surpasses the Rs. 31,000 seen by other top grocery retailers. With the new expansion, Kisanserv aims to reach Rs. 65,000 per square foot per year.
Kisanserv's growth strategy is not limited to Pune and Mumbai. The company plans to expand into other key markets, including Bangalore, Hyderabad, and Chennai, in the near future. This will enable even more customers across India to access fresh, high-quality products at competitive prices.
As India prepares for the festive season, Chilean walnuts have made their way into the retail market, offering a premium option for consumers. ChileNut, representing Chilean walnut growers and exporters, in collaboration with ProChile, an organization under Chile's Ministry of Foreign Affairs, has officially launched the new season of Chilean walnuts in India. This launch aims to provide Indian consumers with high-quality nuts just as the celebrations begin.
Chile’s southern hemisphere location provides a counter-seasonal advantage to India's walnut harvest, ensuring fresh Chilean walnuts are available when supplies from other regions are scarce. Chilean walnuts are renowned for their light color, freshness, and high yield, making them a popular choice in over 70 countries. India has now emerged as the largest market for Chilean walnuts, further solidifying their presence in the country’s retail sector.
Jorge Loyola, Trade Commissioner at ProChile, Embassy of Chile in India said, "Chile’s natural conditions allow it to produce some of the highest-quality walnuts, recognized globally for their excellence. The Andes, the Pacific Ocean, the Atacama Desert, and Antarctica form natural barriers that protect Chile's walnut orchards, ensuring optimal growing conditions. Indian consumers appreciate the distinct taste of these walnuts, which are highly recognized around the world."
Sumit Saran, In-Country Marketing Representative for Chilean Walnuts said, "We foresee the immense potential of Chilean Walnuts in India. The demand here for high-quality walnuts is continuously rising. Chile plays an important role in the market as its walnut production is 100 percent counter-seasonal to India and other northern hemisphere walnut origins. Harvested between May and July, Chilean walnuts reach India from August onwards, perfectly timed for the festive season. We have developed a comprehensive trade and media strategy to make these walnuts available across the country, both through retail outlets and e-commerce platforms."
With the arrival of these fresh walnuts, Indian consumers now have access to a high-quality product that complements the country’s festive traditions.
GIVA Jewellery, a key player in India’s fine jewellery retail segment, has successfully closed its extended Series B funding round, securing Rs 255 crore from prominent investors at a higher valuation. The investment was led by Premji Invest, Epiq Capital, Edelweiss Discover Fund, and the GIVA management team. This round of funding consisted of 35 percent primary investment and 65 percent secondary investment, facilitating the partial exit of A91 Partners and India Quotient.
This infusion of capital will support GIVA’s ambitious expansion plans across India, with a focus on increasing its retail footprint and enhancing its offerings in lab-grown diamonds. The company also aims to further consolidate its leadership position in the fine jewellery market. GIVA has already made significant progress in the retail space with the expansion to 150 stores, the introduction of a franchise model, and improvements in its manufacturing capabilities, including the addition of lifetime plating services.
Ishendra Agarwal, Founder and CEO of GIVA Jewellery said, "This investment serves as a resounding endorsement of GIVA's transformative vision for the fine jewellery industry. We welcome Premji Invest and EPIQ Capital as valued partners, leveraging their expertise to propel our ascent. Our focus remains steadfast on holding our position as the no.1 silver jewellery player in the market while further fortifying our lab-grown diamond segment, broadening our gold offerings, and consolidating our market presence."
Kaveesh Chawla, Partner at Premji Invest said, "We are impressed by GIVA team's strong commitment and relentless drive to build a best-in-class shopping experience for fine jewellery customers. We are excited to increase our investment as we partner with GIVA on their growth journey."
Rishi Navani, Managing Partner and Founder of EPIQ Capital added, "We are excited to partner with Ishendra and the team at GIVA Jewellery in their journey to deliver exceptional customer experience through a trifecta of new age designs, superior quality, and affordable pricing."
GIVA’s future growth strategy focuses on strengthening its lab-grown diamond segment, expanding its gold offerings, and increasing its market presence through targeted marketing efforts. The company aims to continue its leadership in the fine jewellery industry, maintaining its commitment to innovation and customer satisfaction.
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