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The company already has a presence in the USA, Africa, New Zealand, Maldives, Colombo, and the Middle East Bengaluru:  The   104-year-old culinary brand Moti Mahal is planning to enter Europe this year, the company said in a press release on Wednesday. The expansion strategy includes launching its restaurants in Europe with the aim of introducing its tandoori cuisine to the region. The company already has a presence in the USA, Africa, New Zealand, Maldives, Colombo, and the Middle East. Moti Mahal was founded in 1920 by Kundan Lal Gujral in Peshawar, undivided India. Post the partition of India in 1947, the restaurant relocated and set up its new establishment in Delhi. Presently, Moti Mahal’s heritage is upheld by Gujral’s grandson, Monish Gujral, overseeing its operations. The brand has expanded its presence to over 150 locations worldwide. The post Restaurant chain Moti Mahal to enter Europe appeared first on India Retailing . from India Retailing https://ift.tt...

Damodar Mall, chief executive officer of the grocery retail business at Reliance Retail Ltd. talks about the ever-changing consumption habits of the Indian consumer and the premiumization of the consumer at every price point Damodar Mall, chief executive officer of the grocery retail business at Reliance Retail Ltd. is widely considered among the top retailing minds in India. He is the author of the book SupermarketWala – Secrets to Winning Consumer India, which offers insights into the behaviours of Indian consumers and the ways to crack India’s consumption basket. In a freewheeling interview with IndiaRetailing, Mall talks about the growth of supermarkets in India and their potential; the ever-changing consumption habits of the Indian consumer and the premiumization of the consumer at every price-point—from value retail to top-end products. Edited excerpts: About 30 years ago, you went for a project in Brazil. You came back to India thinking India should have its own supermarket ...

Total expenses increased 34.77% to Rs 2,623.67 crore in the December quarter of FY24 New Delhi: Air-conditioner maker and engineering services provider Voltas Ltd on Tuesday reported a narrowing of its consolidated net loss to Rs 27.60 crore in the third quarter of the current fiscal, boosted by festive season sales. The Tata Group firm had witnessed a consolidated net loss of Rs 110.49 crore in the October-December period a year ago, the company said in a regulatory filing. Voltas sales grew 31.78% to Rs 2,612.29 crore during the period under review. It was Rs 1,982.27 crore a year ago. Total expenses increased 34.77% to Rs 2,623.67 crore in the December quarter of FY24. Voltas’ total income in the December quarter went up 31.8% to Rs 2,683.61 crore. Revenue from “unitary cooling products for comfort and commercial use” was up 21.35% to Rs 1,475.61 crore during the period. “The Unitary Cooling Products business continued to outperform the market and maintain its growth momentu...

The company forayed into the Kingdom of Saudi Arabia in December 2023 with its first store in Riyadh New Delhi: Gurugram-based omnichannel eyewear retail chain Lenskart has opened its first store in  Jeddah, Kingdom of Saudi Arabia, a social media post by a company official said. The newly opened store is located at the Jeddah Park. “Exciting news! Our fourth store in Saudi Arabia and first in Jeddah is now open in Jeddah Park, marking a significant milestone in our expansion journey in the Kingdom of Saudi Arabia. Your support drives us to bring you the best, so stay tuned for more openings! ,” said Mahmoud Elfeky, associate vice president retail, Lenskart in a LinkedIn post. The eyewear retailer opened its first store in December 2023 at the View Mall, Riyadh followed by one at Salaam Mall, Alawali, Riyadh at the start of this month and one at the Luxurious Park Avenue Mall, Riyadh last week. The newly opened store will be the first one outside Riyadh and the ...

Currently, the basic customs duty is at 12.5 per cent ad valorem, which takes the total tax to 18.45 per cent on the imported gold Mumbai: The gems and jewellery industry has urged withdrawal of hike in basic customs duty (BCD) on import of gold in the coming interim Budget and asked the government to introduce a rationalised tax structure. “The jewellery industry contributes nearly 7 per cent of India’s GDP and hence, deserves a pro-business environment,” apex body for the gems and jewellery industry All India Gem And Jewellery Domestic Council Chairman Saiyam Mehra told PTI. “This will also benefit the government. We urge the finance ministry to withdraw the increase in BCD on gold in the upcoming Union Budget and a rationalised tax structure may be developed to tackle the CAD issue,” Mehra said. Currently, the BCD is at 12.5 per cent ad valorem, which takes the total tax to 18.45 per cent on the imported gold, he added. He further urged the government to increase the PAN card...

API Holdings, through its subsidiaries, is in the business of providing healthcare services through the online e-commerce marketplace PharmEasy New Delhi: Fair trade regulator CCI on Tuesday said it has cleared the proposals of purchasing stakes in PharmEasy by various entities, including South Africa-based Naspers Group and Singapore’s sovereign wealth fund Temasek. API Holdings, through its subsidiaries, is in the business of providing healthcare services through the online e-commerce marketplace PharmEasy. Naspers Ventures BV proposed the acquisition of “additional shares of API Holdings Ltd by way of participation in the proposed rights issue, subject to the terms of the term sheet executed amongst the parties”, CCI said in a release. Naspers Ventures BV is a wholly-owned subsidiary of Prosus, which in turn is a direct subsidiary of Naspers Ltd. The Competition Commission of India (CCI) said it has approved the proposed deal. The regulator has also approved Temasek Holding...

Revenue during the quarter under review marginally rose to Rs 1,160 crore compared to Rs 1,140 crore achieved in the third quarter of FY2023 New Delhi: Mahindra Logistics on Monday reported a 26% year-on-year fall in standalone profit after tax to Rs 12.5 crore in three months to December. The logistics arm of the Mahindra Group had in the October-December period of the previous fiscal had posted a standalone PAT of Rs 16.8 crore, according to a company statement. Revenue during the quarter under review marginally rose to Rs 1,160 crore compared to Rs 1,140 crore achieved in the third quarter of FY2023, it said. Mahindra Logistics Ltd (MLL) said that its third-party logistics supply chain services grew 5% driven by growth in automotive and engineering, consumer, and durables, adding that it was a strong quarter of order intake across the 3PL supply chain business, driven by growth in FMCG, Engineering and Auto. At the same time, warehouse space under management stood at 20 milli...

Frequently asked questions about Initial Public Offering (IPO) for small and medium retail businesses answered Small businesses are an important driver of India’s economy, contributing to over 27% of the country’s GDP. As of June 2023, the government’s portal that registers micro small and medium enterprises (MSMEs)—Udyam—had 20.09 million MSMEs. These included 19.4 million micro-enterprises, 554,000 small enterprises, and about 52,000 medium-sized enterprises. With the changing consumption environment in the country, such businesses too are aspiring to evolve with the changing times. “Regional businesses today want to adopt modern practices and expand at a rapid rate to meet the needs of the modern consumer and compete with global retailers,” said Vikram Bothra, managing director, Chandan Retail Pvt. Ltd. who runs Askaran Binjraj, a 50,000 sq. ft. stand-alone fashion and lifestyle department store in Assam. “However, while the government lends its support to small and medium (SM...

Located on 15th Road, Gabbana House Khar West, Mumbai the new outlet is the fifth Pret A Manger store in the city Bengaluru:  UK-based freshly made food and organic coffee chain Pret A Manger has launched its 10th outlet in the country in Mumbai, a company official wrote on social media. Located on 15th Road, Gabbana House, Khar West, the new outlet is the fifth Pret A Manger store in the city. “The star lands in Mumbai’s coolest neighborhood. Pret opened at 15th Road, Gabbana House, Khar West,” said Sumeet Yadav, chief executive officer of Hamleys and Pret India at Reliance Brands Ltd. in a LinkedIn post while sharing images of the store. The chain currently offers a wide range of sandwiches, baguettes, salads, and soups, as well as a variety of organic coffee, tea, shakes, and smoothie options. Pret A Manger has entered India in partnership with Reliance Brands, a retail division of Reliance Industries. In April, Reliance opened its first Pret A Manger cafe at Maker Maxity ...

The newly opened Mamaearth store is located at C21 Mall in Indore, Madhya Pradesh New Delhi: Beauty and personal care brand Mamaearth has opened a new store at C21 Mall, Indore, a social media post by a mall official said on Saturday. “Exciting news! Beauty and personal care house of brands Honasa Consumer Ltd. has launched a new store.  Mamaearth Now opens its doors at C21 Mall Indore,” Raj Yadav, leasing marketing manager at C21 Mall said in a LinkedIn post. The company recently celebrated the opening of its 100th exclusive brand outlet (EBO) in Mumbai situated at R-City Mall in Ghatkopar, Mumbai. Image Credit: LinkedIn In the past year, Mamaearth has seen an increase in its number of retail stores and has expanded its product range to include over 250 different collections. Based in Gurugram and operated by Honasa Consumer Pvt. Ltd., Mamaearth was established in 2016 initially focusing on toxin-free baby care products. However, the company quickly diversified into adul...

The development comes after around six months of Bansal selling an entire stake in the company New Delhi: E-commerce major Flipkart co-founder Binny Bansal has resigned from the company’s board, according to a company statement. “I am proud of the Flipkart Group’s achievements over the past 16 years. Flipkart is in a robust position, with a strong leadership team and a clear path forward, and with this confidence, I have decided to step aside, knowing the company is in capable hands. I wish the team the best as they continue to transform experiences for customers, and I remain a strong supporter of the business,” Bansal said. He co-founded the e-commerce firm with Sachin Bansal in 2007. Sachin Bansal stepped down from the Flipkart board in 2018 after Walmart acquired a 77% stake in the company at a valuation of $21 billion. Besides being an active angel investor, Binny Bansal has also started his firm to provide marketing support to sellers on e-commerce platforms. “His insigh...

Anurag Katriar, Founder and Managing Director of Indigo Hospitality, converses with Rasul Bailay, Group Managing Editor of IMAGES Group, covering topics such as the expansion of the hospitality sector in India, the variety of Indian regional cuisines, partnerships with food aggregators and much more. The post Regional cuisines are India’s most underutilised soft power assets – Anurag Katriar, Indigo Hospitality appeared first on India Retailing . from India Retailing https://ift.tt/X1xkszh via IFTTT

India’s retail and wholesale sectors faced a 22% increase in cyberattacks in 2023. Here’s what’s making us more vulnerable New Delhi: In April 2021, hacked customer data complete with names and contact numbers related to 180 Domino’s Pizza orders went on sale on the dark web. The number of cyberattacks in India has increased by 15% per week on average in 2023, as per a report by cyber security firm Check Point. The findings further revealed that the retail and wholesale sectors faced a 22% increase, indicating a change in the attacker’s focus. According to the latest Norton Cybersecurity Insights Report, Indians lose an average of Rs 20,000 when shopping online. Surprisingly, 74% of them are not aware of the next steps to be taken if they are a victim of a shopping scam. Ransomware attackers are increasingly targeting retail businesses, causing financial losses and disrupting online shopping experiences. Cyber security software company Trend Micro in a study said that attacker sur...

Dev Sarkar, Senior Vice President (B2C), Godrej Interio talks about using technology as a competitive advantage, the company’s focus areas and growth strategy Bengaluru: Founded in 1923, Godrej Interio, the furniture arm of Godrej & Boyce, part of the diversified Godrej Group, has played a pivotal role in the country’s organised furniture sector. The group made its foray into the business by manufacturing the Godrej Storewel cupboards. Presently, the national chain is strategically focused on bolstering its retail footprint in Delhi national capital region (NCR), by increasing its market share from 18% to 35% in the next three years and achieving a revenue of approximately Rs 450 crore from northern India by financial year (FY) 2026. Interio has manufacturing facilities in Mumbai, Khalapur, and Shirwal in Maharashtra, and Haridwar and Bhagwanpur in Uttarakhand.It also has a central warehouse in Mumbai. It is present in 650 outlets and showrooms scattered across the nation....

Launched in December 2020, Cloud Tailor is a D2C brand that specializes in hyper-personalized women’s wear segments and aims at providing a digital solution to an offline tailoring problem. An enabler of personalized fashion styling, fashion visualization, order placement, recommendations, tracking, and fulfillment, Cloud Tailor offers a simple and reliable tech-based solution globally Getting the trend on-point Looking closely at the current ecosystem of personalized fashion, the founders of Cloud Tailor realized that the ecosystem is unreliable and filled with stories of hassle and inconvenience. With the motivation to address the challenge women have when it comes to getting their wardrobe of personalized fashion, founders Mahesh Patel, Sushmita Lakkakula, and Rudra Pratap launched Cloud Tailor. From the start, they were aware that this market presents a Rs 27000 crore opportunity and wanted to tap it with their unique offering. In a nutshell, Cloud Tailor is a D2C platform that...

Noida is at the cusp of being a retail hotspot for the coming decades, with the city expanding its limits and opportunities galore for shopping centre development and lifestyle retail New Delhi : Noida has been a hotspot for real estate development, with several ongoing and upcoming projects contributing to its growth as an attractive investment destination. Real estate developers with the likes of Godrej Properties, ABA Corp, Gaurs, Bhutani Infra, Gulshan Homz, Prateek, Eldeco and Mahagun have launched residential, commercial, and mixed-use projects in response to the demand for modern and well-planned spaces. Demand for homes in Noida has been steadily increasing leading to a spike in rentals. The average home rents in Noida as per property consultancy Anarock, surged the most, followed by Pune and certain areas in Bengaluru. The rentals surged by a whopping 23% between 2019 and end-2022. While at the end of 2019, the average rent for a 1,000 sq. ft. apartment in the area stood at...

Innovation is at the core of mCaffeine and it has made it the world’s largest single-ingredient personal care brand offering caffeinated products across 4 major categories including face care, hair care, body care, and lip care. What also makes the brand a sure-shot favourite of the crowd is its gender-neutral positioning that reŦects the lifestyle of today’s youngsters and also personifies their values An exciting start What led Tarun Sharma, Vikas Lachhwani, Vaishali Gupta, Saurabh Singhal, and Mohit Jain to start mCaffeine is an interesting story. Way back in 2015, a minor accident caused Sharma’s left eye to swell up. When one of his roommates suggested that he put a teabag over it to reduce the inflammation, he unknowingly sparked Sharma’s incurably curious appetite. Sharma calls this a eureka moment that led to the idea of starting mCaffeine. He began reading up on the benefits of caffeine and realized that most global brands use it in their skincare products. Starting India’...

As traditional wisdom is converging with contemporary technology and changing consumer preferences, the entire Ayurveda industry is moving towards a new-age world New Delhi: The roots of Ayurveda trace back to 5000 years in India. It is an ancient medical practice that has started experiencing a renaissance in the modern world. As traditional wisdom is converging with contemporary technology and changing consumer preferences, the entire Ayurveda industry is moving towards a new-age world. The evolving transition from conventional pharmacies to the dynamic landscape of e-commerce and retail has not only broadened the market’s reach but has also ushered in a wave of innovation and personalized treatments. According to the Forum on Indian Traditional Medicine (FITM) in 2014-15 the market size of the Ayush industry was 2.85 billion and in 2020 it increased to 18.1 billion.  Originally rooted in traditional pharmacies, Ayurveda earlier relied on herbal remedies and local practices...

Flipkart may dismiss around 1,100 people and Swiggy may fire between 350-400 New Delhi : On-demand convenience platform Swiggy and Walmart-owned e-commerce firm Flipkart both may lay off a large number of employees. Swiggy is expected to cut around 350-400 jobs across various verticals as part of preparations for its initial public offering. Whereas Flipkart may dismiss around 1,100 people on the grounds of poor performance, sources aware of the development said. As Swiggy works to simplify structure and bring operational efficiencies, around 350 to 400 jobs are expected to be pruned, sources said. These will be across teams spanning technology, call centre and corporate roles, and the job cuts are expected to initiate gradually in the coming weeks. The development comes at a time when Swiggy is preparing for its IPO. “Swiggy has been working on simplifying work processes and building operational efficiencies,” a person aware of the development said. Swiggy’s headcount is estimate...

The new store is located at Elements Mall, Kasaba Hobli, Bengaluru Bengaluru: Homeware brand Tupperware has launched its 200th retail store in the country in Bengaluru, a company official wrote on social media on Wednesday. The store is located at Elements Mall, Kasaba Hobli, Bengaluru. “I am thrilled to share a momentous achievement with all of you today – the grand launch ceremony of our 200th exclusive retail store in Bengaluru! This marks a significant testament to our brand’s stronghold in the organised retail space in Tupperware India,” said Mohit Virmani, national retail head of Tupperware in a LinkedIn post. “This achievement is a testament to the passion and commitment that defines us. Crossing the 200-store mark is not just a number; it’s a symbol of our resilience and constant pursuit of excellence,” he added. Founded in 1942 by Earl Tupper, Tupperware is an American company known for manufacturing and globally distributing preparation, storage, and serving containers ...

Consumption boost and inflation control emerge as the top two asks of industry representatives from the upcoming Interim Budget 2024 New Delhi: On 1 February entrepreneurs across sectors, tax professionals and analysts among scores of individuals will be glued to their devices to learn what Finance Minister Nirmala Sitharaman has for them as she presents in her sixth budget to the nation. Being an election year, this will be an interim budget, which is usually marked with lack-lustre or populist announcements with minimal potential to impact the outcome of the polls. However, media reports that this Budget might be different and is most likely to have an emphasis on tax-saving among other populist measures like policies that benefit women, youth and the elderly. What will it have for India Inc.? IndiaRetailing spoke to leaders across the retail spectrum to find out what they expect from the Budget 2024. Inflation control Industry representatives expect the budget to address som...