BUSINESS
Will import duty cut on edible oils offer the much-needed relief to consumers?
Apart from edible oils, several daily essential products, such as soaps and shampoos, have become dearer as FMCG companies hike prices to offset increasing inputs costs. However, many experts say while the move may spell good for companies, consumers may not benefit much.
BUSINESS
Retail biggies make a beeline for ethnic wear market in India
Reliance Retail last week announced the launch of its ethnic wear brand Avantra. Aditya Birla Fashion and Retail Retail, which has mainly catered to the Western wear market in the past, acquired stakes in eponymous ethnic labels like Tarun Tahiliani and Sabyasachi earlier this year. Titan Company, too, is engaged in a renewed push of its ethnic range under Taneira. Why has the Rs. 1.5 lakh crore ethnic wear market attracted these retail giants now?
BUSINESS
We are striving to be the market leaders in fried chicken: Smita Jatia, MD, Westlife Development
Fast-food restaurant holding company Westlife Development Limited wants McDonald’s to be more than a burger brand. In line with that ambition, McDonald’s has introduced fried chicken on its menu in the south. Managing director Smita Jatia talks to Moneycontrol about Westlife’s strategy to grab a share of the fried chicken market.
BUSINESS
Highest-paid FMCG CEO: Check who takes home Rs 17.19 crore
A CEO’s remuneration package typically includes salary, allowances and perquisites, contribution to retiral funds, long-term incentives, and stock options.
BUSINESS
FMCG sales taper off in August after surging in July
Categories such as personal care, home care, and confectionery witnessed a drop in sales in August as general trade stores continued to liquidate excess stock from the previous month.
BUSINESS
Plant-based beverage companies seek time to remove ‘milk’ from labels
The food regulator also asked e-commerce companies last week to take down plant-based beverages that contravene norms on the use of dairy terms.
BUSINESS
Rasna to take on Coca-Cola, Pepsi with its ‘Indie Cola’ drink
Rasna was the go-to drink in the Indian market before the likes of Pepsi and Coca-Cola entered the country. It was also one of the top advertisers on Doordarshan and its iconic ‘I love you Rasna’ ad, featuring a young girl, still triggers much nostalgia in the consumer’s mind. With the new ‘Indie Cola’ drink, will the brand be able to create same magic?
BUSINESS
Crossword Bookstores' revival: New owner has ambitious plans
Pune-based Agarwal Business House, the largest franchisee of Crossword Bookstores, acquired the book retail chain from Shoppers Stop this week. It plans to expand the bookstore’s retail footprint and focus on the omnichannel play.
BUSINESS
Oil processors, developers gear up to tap the oil palm opportunity
The government has unveiled a Rs. 11.040 crore National Mission on Edible Oils – Oil Palm to boost domestic production of palm oil. The initiative, experts say, will lift the fortunes of oil processors.
BUSINESS
Raw material prices of packaging material have gone through the roof: Ashutosh Manohar, MD, Tetra Pak India
Although packaging solutions company Tetra Pak’s Indian unit has witnessed the emergence of new categories that have increased demand for its products, it is struggling with almost a decade-high inflation in several raw materials.
BUSINESS
How Mumbai-based Tessol is solving cold chain constraints for food companies
Cold chain infrastructure has long been a bugbear for food companies in India, particularly for segments such as frozen and chilled foods, making it hard for them to scale up. Tessol’s founder and CEO, Rajat Gupta talks about building cost-effective solutions for last-mile delivery of these products.
BUSINESS
Wingreens Farms looks to acquire five new-age brands within a year
The Sequoia-backed company is scouting for food and beverages companies offering fresh and ethically-sourced products to consumers, Anju Srivastava, founder of Wingreens Farms,told Moneycontrol in an exclusive interaction.
BUSINESS
Tata Consumer Products bets on food and beverages to join FMCG biggie club
In an exclusive conversation with Moneycontrol, Sunil D’Souza, CEO and MD, Tata Consumer Products, talks about the company’s plans to tap the mass market as well as the premium segment through its recent F&B launches.
BUSINESS
Suumaya Industries acquires majority stake in PayAgri
PayAgri is an agri-tech start and with its acquisition Suumaya will get access to Southern markets, especially, for the spices category, Ushik Gala, Chairman and Managing Director of Suumaya Industries told Moneycontrol.
COMPANIES
New hallmarking rules a drag on supply chain: Ashok Sonthalia, CFO, Titan Company
The organised jewellery sector and retail chains such as Tanishq have hailed the government’s new hallmarking rules. However, norms for unique IDs have led to pile-ups at assaying and hallmarking centres and impacted the supply chain.
BUSINESS
We will be able to open shopping malls only by mid-September in Maharashtra: Mukesh Kumar, Chairman, SCAI
According to the Shopping Centres Association of India chief, the industry is incurring huge losses due to the lockdown and mall developers have been compelled to bench about 30-40 percent of employees as they are unable to pay salaries.
BUSINESS
Brands with proven efficacy will survive the clean beauty rush: Kama Ayurveda founder Vivek Sahni
Kama Ayurveda has started conducting clinical trials for its products, to assure consumers about their effectiveness instead of only talking about the benefits, the company’s founwder and CEO Vivek Sahni, told Moneycontrol.
BUSINESS
Exclusive | FirstCry’s Thrasio-style venture GlobalBees acquires D2C startup andMe
GlobalBees had raised $150 million in a mix of equity and debt, led by FirstCry and some of the parent company’s other investors in July. The startup, andMe, was bought for about Rs 30 crore.
BUSINESS
South Korea's Orion eyes larger pie of confectionery market in India
The company, which competes with Lotte Choco Pie, has launched new products such as cupcakes and rice crackers for the Indian market ahead of the festive season.
BUSINESS
Maharashtra malls shut again as government mandates 'full-vaccination for all' for reopening
Earlier, the government had indicated that shopping malls that have vaccinated employees with at least a single dose will be allowed to resume operations.
BUSINESS
Retail market contracted in FY21 but e-commerce clocked 25% growth: Bain & Co
The pandemic was a watershed moment for India’s e-retail market, driving a 12-month acceleration in e-retail penetration to reach 4.6 percent in FY21, said the report.
BUSINESS
ITC to invest $2 billion to create vectors for next leg of growth: CMD Sanjiv Puri
The company is also eyeing inorganic opportunities across categories while keeping digital and sustainability at the focus of its initiatives.
BUSINESS
We are cautiously optimistic about demand in ensuing quarters: Raymond CMD Gautam Hari Singhania
Retail companies have had a tough time in the first quarter of FY22 as pandemic impacted operations, however, as the second wave ebbs and the country enters the festive season, players like Raymond are hopeful of recovery.
BUSINESS
Digital and sustainability at the forefront of ‘ITC Next’ strategy: CMD Sanjiv Puri
At the company’s 110th Annual General Meeting, Puri said digital and sustainability are the defining trends of the new normal and will be a focus of the company going ahead.
