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Urban Monkey will offer over 170 styles on Myntra, across categories like apparel and accessories Bengaluru:  E-commerce marketplace Myntra’s Rising Stars, an initiative aimed at boosting made-in-India direct to consumer (D2C) brands, has onboarded streetwear brand Urban Monkey, the e-tailer said in a press release on Tuesday. The brand will offer over 170 styles on Myntra’S PLATFORM, across categories like apparel and accessories. Urban Monkey will present its offerings like t-shirts, caps, sweatshirts, shirts, backpacks, jeans and shorts. “In our endeavor to bring the best of trend-first fashion offerings to our customers,  we’re thrilled to announce the launch of Urban Monkey on our platform. We are confident about the brand, enamoring  our fashion-forward customers across the country with its chic range of high-quality apparel and accessories.” said Maneesh Dubey, senior director – category management marketplace at Myntra. Mumbai-based Urban Monkey was founded in...

In the first quarter of 2024, the Coca-Cola company witnessed “growth” in Unit case volume in the India market New Delhi : Global soft drinks major the Coca-Cola Company has earned $290 million (around Rs 2,420 crore) from India in the March quarter by refranchising its bottling operations to its existing bottlers in three key markets here. HCCB, Coca-Cola’s bottling arm in India, had in January this year announced to divest company-owned bottling operations in Rajasthan, Bihar, Northeast, and parts of West Bengal to its existing bottlers. “During the three months ended March 29, 2024, the company recorded net gains of $599 million and $293 million related to the refranchising of our bottling operations in the Philippines and in certain territories in India, respectively,” said Coca-Cola in its earning statement on Tuesday. India is the fifth largest market of the Atlanta-based company, which operates here with brands as Coca-Cola, Coke, Thums UP, Maaza, Sprite, Fanta, Minute Maid,...

Nestle India’s objective is clearly to accelerate volume growth New Delhi : FMCG Major Nestle India will focus on volume growth going forward, in a market which is “still impacted by inflation”, to be in the top quartile performance, company Chairman and Managing Director Suresh Narayanan said on Monday. The company, which will open the first boutique of its Nespresso premium range offering coffee and machines later this year in Delhi, is aiming for premium products, including those of health science, to account for 20 % of its sales in the long term. Nestle India is also looking to increase its total touchpoints to 60 lakh across the country in the next 4-5 years, up from 51 lakh at present, Narayanan said while speaking to reporters here. “The future of consumer goods companies will rest on their capability to penetrate more households, with more products for more occasions and usage,” he said, while stressing on the need to shore up volume. Nestle India’s objective is clearly...

The average salary of 88% of the workforce varies between Rs 15,000 – 20,000, while around 64% of the QSR workforce does not receive any incentives Bengaluru: Around 12% of the workforce in the quick service restaurant (QSR) space earns less than Rs 15,000 which is less than the minimum wage threshold for many states in India, according to a report by staffing conglomerate TeamLease Services. Despite projections indicating that the QSR sector in India is set to reach $38.71 billion by 2029, it faces a challenge of high attrition rates, averaging between 10-40% turnover on a monthly basis. One of the reasons behind the high attrition rate is the subpar compensation levels and practices as well. The average salary of 88% of the workforce varies between Rs 15,000-20,000. Additionally, around 64% of the QSR workforce does not receive any incentives. As per the report, 21% of QSRs are non-compliant in terms of statutory benefits as they fail to meet minimum wage requirements. Also, 30%...

It is designed to transform the consumer and retailer experience by seamlessly integrating digital and physical shopping realms through a personal digital avatar that makes retail interaction as simple as a conversation New Delhi: Dubai-based IT services and IT consulting company Pathfinder will preview its latest generative AI (GenAI) based RetailGPT at the upcoming Phygital Retail Convention (PRC) 2024 to be held in Mumbai on 8-9 May 2024, a release by the company said. The GenAI powered-RetailGPT acts as a personal shopping assistant, offering tailored advice, instant offers, and rewards from a user’s favourite store—all accessible through simple prompts. It is designed to transform the consumer and retailer experience by seamlessly integrating digital and physical shopping realms through a personal digital avatar that makes retail interaction as simple as a conversation, the release added. Shoppers can manage their shopping list with just a few words, and RetailGPT’s avatar wi...

The new centre in Mumbai has a business lounge that features custom furniture serving as interior mock-ups New Delhi: Natural surface materials distributor Stonelam has opened a new experience centre in Mumbai according to a press release on Monday. The experience centre caters to a diverse range of customers, including architects/designers, homeowners/buyers, and existing and potential clients. “This is our first experience centre in Mumbai. It showcases our unique offering in this domain, providing an array of choices and immersive sensory experiences” said Sandeep Bagade, CEO, Stonelam. “This space epitomizes our commitment to redefining the facade market, blending nature’s allure and sustainability” Bagade added. “With a design concept inspired by ‘Hiking Through the Mountains,’ the space showcases our superior products in complete harmony with nature” said Sushant Pathak, CMO, Stonex Group. “Interactive exhibits highlight Stonelam’s product superiority, catering to e...

We are not focusing on IPO this year, our primary focus is to foray into offline markets New Delhi : Indian consumer tech brand Boult plans to go public next year, with a revenue benchmark of Rs 1,000 crore in FY25, as it expands into international markets and new categories, according to its co-founder Varun Gupta. In an exclusive interview with PTI, Gupta spoke in detail about his vision to make the Indian company global, listing out the homegrown brand, and his ambitious targets for this fiscal year. “We are not focusing on IPO this year, our primary focus is to foray into offline markets, international geographies, and new categories, but possibly in the next year,” he said. The young entrepreneur said the company has set an internal touchstone for itself before it goes public. “… We have an internal benchmark, when we hit a Rs 1,000 crore revenue, that’s when we want to go for an IPO. Technically, we’re eligible to go for an IPO today because we’re profitable and comfortabl...

The study also predicted promising investment trends shortly, with about 94% of respondents anticipating increased investments and budget allocations towards GenAI initiatives in the next 2-3 years New Delhi: India leads globally in adopting GenAI technologies as a vast percentage of organisations incorporate GenAI in operations, and a majority of the populace expects increased investments and budget allocations towards Gen AI in the next 2-3 years, according to a recent report. Search analytics firm Elastic on Monday released the Generative AI Report that gathered insights from 3,200 IT decision-makers and influencers across sectors in the US, Europe, and Asia-Pacific. In the Asia Pacific and Japan region, 1,200 were surveyed, including 300 from India. According to the report, 81% of Indian organisations have already implemented GenAI, making India the leader in adopting generative artificial intelligence technologies. The study also predicted promising investment trends shortly,...

How Kerala-based Kalyan Jewellers is transforming itself from a regional brand to a national player that is in sync with the changing times and consumer tastes Started in 1908, Kalyan Jewellers—a prominent name in the Indian jewellery industry—is one of the country’s oldest family businesses. From its humble beginnings to becoming a household name, the brand’s journey has been an eventful one. In the initial years, the brand was associated with the textile business (from manufacturing to retailing) before expanding into jewellery. The first Jewellery showroom spanning 40,000 sq. ft. was launched in 1993 in Thrissur, Kerala. This large format store introduced a new way of shopping to the city, which was used to jewellery showrooms of 300 sq. ft. Extending its reach beyond South India, Kalyan Jewellers opened a store in Ahmedabad in 2012, which also was the year in which the brand began its association with Bollywood superstar Amitabh Bachchan, who continues to be its national brand am...

The brand is bullish on investments in technology and spends almost Rs 15000 per month on tech tools they use to streamline processes and operations Bengaluru: Akash Wadhwani and Rishabh Gupta were victims of lactose intolerance. This gave them a chance to sample plant-based milk when living abroad. However, faced with a scarcity of healthy yet tasty options, when back in India, the duo decided to found a company of their own. This led to the start of OatMlk. Driving the change Plant-based milk such as soy milk, almond milk, and oat milk have recently made their way into cafe menus and Indian consumers’ shopping baskets. The category has made promising inroads with Indian consumers since OatMlk entered the market. Estimated at $21 million versus the animal-derived dairy industry at $140 billion, plant-based dairy in India is projected to grow at a CAGR of 20.7% to reach $63.9 million by 2024. Akash Wadhwani and Rishabh Gupta, founders, OatMlk wanted to create a versatile product ...

Patanjali Foods will consider acquiring brands like Dant Kanti and Kesh Kanti of Patanjali Ayurved New Delhi: Patanjali Foods Ltd, which is mainly into edible oils, on Friday said it will evaluate a proposal to acquire the non-food business of promoter group Patanjali Ayurved led by Baba Ramdev. However, the company did not mention the categories of non-food products it plans to acquire, but sources said it will consider acquiring products falling into dental care, home care, and personal care categories, which contribute 50-60% to the promoter’s total turnover. In a regulatory filing, Patanjali Foods informed that its board has discussed the initial proposal received from Patanjali Ayurved Ltd for a sale of the latter’s non-food business undertaking to the company. “The board accorded its in-principle approval for evaluating the most efficient mode of enhancing synergies with Patanjali Ayurved non-food portfolio in any manner on an arm’s length basis,” the filing said. The board...

The company started with three products and now it has expanded offerings to over 9 products including one product for women  Bengaluru: Sister duo Anushree and Ananya Maloo gave shape to Nuutjob in order to bring men a hygienic way to keep their intimate parts healthy and dry. The brand creates no-nonsense products without any harmful ingredients, senseless rigmarole, or needless middlemen. Understanding the market niche The male intimate hygiene and grooming category has seen great growth in the past year. Nuutjob entered the category when there was almost no brand catering to the intimate hygiene category let alone be entirely premised around it. “To where we stand today there is so much that has transpired not just for us as a brand but for the segment, as well. We would like to mention that a big part of the credit also goes to hit Indian television reality show Shark Tank India that rather enabled us to validate a segment to the masses further. Data wise the personal groo...

The campaign involves a TVC showing Sidharth Malhotra being impressed by a girl making the first move New Delhi : JG Hosiery’s premium innerwear brand Macho Sporto, has roped in Bollywood actor Sidharth Malhotra as its new brand ambassador for its popular advertising campaign ‘Yeh Toh Bada Toing Hai’. The campaign involves a television commercial with the current buzz of cricket and Malhotra being impressed by a girl making the first move, as the iconic jingle ‘Yeh Toh Bada Toing Hai’ plays in the background. “I am excited to partner with Macho Sporto, a brand committed to providing comfort and style to all of their consumers for decades. The brand has established itself as a household name, and I look forward to this collaboration.” said Malhotra. The post Macho Sporto introduces Sidharth Malhotra as its new brand ambassador appeared first on India Retailing . from India Retailing https://ift.tt/zDerdVW via IFTTT

The funding round was led by Motion Ventures and July Ventures, with participation from Venture Catalysts, Blue Ashva Capital, and Capital A Bengaluru:  Container logistics and supply chain company MatchLog Solutions has raised $1.5 million in pre-series A funding, the company said in a press release on Friday. The round was led by Motion Ventures and July Ventures, with participation from Venture Catalysts, Blue Ashva Capital, and Capital A. This funding will enable the company’s shift to a full platform model, emphasising carbon reduction as a core aspect of its offering. The investment will also help MatchLog expand its market presence, enhance strategic partnerships, and deepen collaborations within the global shipping and port ecosystems. “Since starting our operations, we’ve managed 200,000 containers and improved their efficiency by around 50%. This has reduced our carbon emissions by 40,000 metric tonnes, contributing significantly to the reduction of the container logis...

The store offers Levis’s latest signature apparel and accessories for both men and women along with the iconic 501 jeans New Delhi: California-based apparel retailer Levis has opened a store on Banani Road in Dhaka, Bangladesh, revealed a top company executive on social media on Thursday. With an area of 2270 sq. ft., the store offers Levis’s latest signature apparel and accessories for men and women along with the iconic 501 jeans. “I’m thrilled to announce the opening of our inaugural Levi’s store in Dhaka, Bangladesh,” wrote Amisha Jain, Managing Director and SVP, South Asia, Middle East, Africa, Non-EU, Levi Strauss & Co on LinkedIn while sharing photos of the store. According to Jain, the expansion is pivotal as it underscores the brand’s commitment to its direct-to-consumer strategy and taps into the market opportunity in the country that’s driven by rapid urbanization and a thriving consumer base. “Our strategic approach and unique offerings position us strongly for su...

Net sales of Hindustan Unilever Ltd (HUL) were almost flat to Rs 15,013 crore in the March quarter New Delhi : FMCG major Hindustan Unilever on Wednesday reported a 1.53% decline in consolidated net profit to Rs 2,561 crore for the fourth quarter of FY24 on account of deflation due to softening of commodity prices. The company had posted a net profit of Rs 2,601 crore in the year-ago period, according to a regulatory filing from HUL. Net sales of Hindustan Unilever Ltd (HUL) were almost flat to Rs 15,013 crore in the March quarter. While HUL’s total expenses were up 1.15% to Rs 12,100 crore in the March quarter from Rs 11,962 crore a year ago. The total income of HUL during the fourth quarter of the previous fiscal was flat at Rs 15,441 crore as against Rs 15,375 crore a year ago. “HUL delivered a resilient performance in Q4 with underlying sales growth of 1%, underlying volume growth (UVG) of 2 % and EBITDA margin at 23.4 % ,” HUL said in its earning statement. In the March qua...

The overall M&A deal value during January – March 2024 soared by 60% to $ 19.6 billion in, while that of private equity (PE) experienced a slight dip New Delhi : The retail and consumer sectors continue to lead in terms of merger and acquisition (M&A) deal volume in January-March 2024, according to a PwC India report. The media and entertainment sector topped the charts in terms of value. Moreover, the retail and consumer sectors continued to display a high deal volume, with 81 transactions in the first quarter, followed by the technology sector at 49 deals. Sectors like media and entertainment, power, pharmaceuticals, retail and consumer, and financial services saw high deal values, showcasing substantial investment in traditional sectors. The overall M&A deal value during the period soared by 60% to $ 19.6 billion, while that of private equity (PE) experienced a slight dip. With 455 deals amounting to $25.6 billion disclosed value, the first quarter of 2024 showcases...

HUL has already completed the process of price correction in all portfolios in the last few quarters New Delhi : Leading FMCG maker HUL expects an overall improvement in the demands gradually with no immediate price increase in the near term, its CFO Ritesh Tiwari said on Wednesday. Moreover, overall FMCG demand from rural markets, which was on the decline, has started to grow sequentially and will accelerate further in the coming quarter, he said. “We expect FMCG demand to continue improving gradually. Forecast of above-normal monsoons and improving macroeconomic indicators augur well. We expect price growth to be a low single-digit decline in the first half of FY24,” said Tiwari during earning call. Over the prices, he said if commodity prices remain where they are, then they “will plateau in mid-terms and become positive in low single-digit rates by the end of this financial year”. He expects that in the second half of FY 2024-25, the company should see a marginal increase in p...

Indian fragrance sector has grown 11% in the last two years fuelled by several factors… Bengaluru:  The Indian fragrance industry is growing at a massive pace. A surge of homegrown niche fragrance brands such as Bombay Perfumery, Ajmal Perfumes, Isak and Roja and the influx of international brands like Victoria’s Secret, Alexandre.J and Rabanne have further enriched the market. The global fragrance and flavour industry is worth $24 billion and India contributes approximately $500 million, as per a study by the Government of India’s Ministry of Micro, Small & Medium Enterprises (MSMEs) The study further says, fragrance sector in India has grown at a rate of 11% in the last few years fuelled by factors such as the growing middle class, increasing disposable income, the influence of Western culture, shifting lifestyle preferences of consumers and affordable price of fragrance in the form of mass perfumes and deodorants. Growth drivers The rise in the number of Indians stockin...

The CEO had announced in his earlier LinkedIn post that the brand plans to open 7 stores in Mumbai within a month New Delhi : Mumbai-based textile manufacturer Reid & Taylor Apparel has opened its 2 nd  store at Vallabagh Lane, Ghatkopar, Mumbai, a social media post by a top company executive said on Tuesday. “Today we opened our 2nd store at Vallabagh Lane , Ghatkopar, Mumbai. Mr JD Barman, Director, Textiles Commitee, Ministry of Textiles graced the occasion. The journey of Reid & Taylor Apparel continues…..Thank you team.,” said Subrata Siddhanta, CEO, Apparel & Retail  Reid & Taylor in a LinkedIn post while sharing pictures of the store.  The CEO had announced in his earlier LinkedIn post that the brand plans to open 7 stores in Mumbai within a month. As per an earlier report by IndiaRetailing, the brand previously opened its store at Borivali in Mumbai. Reid & Taylor entered India in 1988,  with a s...

Croma opened 149 stores in 50 new cities and 13 Apple–only stores earlier this year New Delhi : Mumbai-based large format retailer Croma has opened another store in Kolkata, a social media post by a top industry executive said on Wednesday. “Another Great looking store of Croma has opened in Kolkata! Many congratulations to Croma team, great team work!” said Anand Dutta, Associate Executive Director at CBRE in a LinkedIn post while sharing pictures of the store. Croma opened 149 stores in 50 new cities and 13 Apple–only stores earlier this year, as per an earlier report by indiaretailing. Founded in 2006, Croma offers 23,000+ products across 532 brands through 490 stores spread across 174 major cities of India, according to the brand’s website. Croma is a brand of Infiniti Retail Ltd., part of the Tata Group, the website added. It specialises in digital gadgets and home electronics offering products like mobile phones, televisions, laptops, headphones, refrigerators, home the...

The growth reflects an “organic volume growth and effective net pricing” and a partial offset of the impact of unfavourable foreign exchange, the company said New Delhi : PepsiCo on Tuesday reported a “high single-digit growth” in its beverage unit volume in the Indian market during the first quarter of 2024. The company’s convenient food business reported a “double-digit growth” in the country during the period, according to a global earnings statement from the food and beverages major. PepsiCo’s net revenue in the Africa, Middle East, and South Asia (AMESA) division, which covers the Indian market, went up by 2% to $1.04 billion. The growth reflects an “organic volume growth and effective net pricing” and a partial offset of the impact of unfavourable foreign exchange, the company said. In AMESA, PepsiCo’s “beverage unit volume grew 2% , primarily reflecting mid-single-digit growth in the Middle East and high single-digit growth in India”. Its convenient food unit volume grew 4...

The grab-and-go convenience store is being launched by a bunch of 28-year-olds Mumbai: On 1 May as the world celebrates Labour Day, three 28-year-olds from Pune will rejoice in the launch of their labour of love—an Amazon Go-style unmanned store. The 500-sq. ft. store located at Water Square Commercial Complex at Pimple Nilakh in Pune will be a 24/7 store sans human presence. The entire shopping journey from entry to checkout is being enabled by a combination of technologies to achieve a seamless grab-and-go experience. “The fusion of AI and IoT is what helps us automate the entire store. We have also used sensors for weight tracking of the products on the shelves,” explained computer engineer Chinmay Raut, chief executive officer and one of the three founders. The other two founders are Emmanuel Dsouza, an instrumentation engineer who is the chief technology officer, and Amey Rithe, also a computer engineer who is the chief operating officer. How it works The store has two level...

The company plans to invest Rs90-100 crore for the expansion   New Delhi:  Value retail chain   V2 Retail, on Tuesday, announced its plans to open 35-40 new stores, each with an area of 4 lakh sq. ft. Furthermore, it plans to invest Rs 90-100 crore, for store expansion and bolstering inventory. The retailer also plans to recruit over 1500 people across diverse verticals including sales, marketing, operations, and customer service, to drive the expansion and contribute to the nation’s Skill India initiative. “Our vision aligns with the enthusiasm and dedication of our newest team members,” said Akash Agarwal, Director at V2 Retail. Emphasizing the significance of these additions, Agarwal added, “As we grow, their contributions will be instrumental.” V2 Retail offers a wide range of apparel across categories under one roof. It is present in 17 states through 96 stores in prime cities and small towns alike. The post V2 Retail to open 35-40 new stores, rec...

The new unit is spread across an area of 10 Lakh sq. ft. and can produce 4-5 lakh units annually New Delhi:  Jaipur-based home furniture and decor brand Wooden Street has opened a new manufacturing facility and R&D unit in Jodhpur, Rajasthan, a release by the company said on Tuesday. The new unit is spread across an area of 10 lakh sq. ft. and can produce 4-5 lakh units annually, amounting to a total of Rs 500- 700 crore per year. This expansion involves an investment of Rs 50-70 crore and will have fully automated machines equipped with the latest technology. The enhanced R&D unit will focus on better prototyping methods, driving innovation in both product design and material use, the release added. “Our new expansion in Jodhpur reflects our commitment to staying at the forefront of the furniture industry. With these enhanced facilities, we aim to transform the furniture design and manufacturing process, ensuring our customers receive top-tier products.”, said Lok...

The company plans to open the first Lotto store by early next year New Delhi: Agilitas Sports is planning to open 200  Lotto-branded standalone stores in India in the coming years and the Bengaluru-based athleisure start-up is targeting around Rs 2,000-3,000 crore from that business, a top company official said. “We are planning to build a robust Lotte business in India,” Abhishek Ganguly, chief executive of Agilitas said. “We have created a separate management team and separate capabilities for the Lotte business. We will give it end-to-end focus.” Ganguly said the mint-fresh company plans to open doors to the first Lotto standalone store early next year. However, he neither gave a timeframe for rolling out the 200 stores nor how many years it might take for the company to generate Rs 2,000-Rs 3,000 crore from the Lotto business. “With our end-to-end business model, it is very much doable,” Ganguly said of Lotto’s business prospects in India. Abhishek Ganguly, Co-founder,...