BUSINESS
Demand for biscuits in lockdown takes Britannia’s Q2 profit up by 23%
The company had registered a massive 117 percent year-on-year increase in consolidated profit for the quarter ended June 2020.
BUSINESS
Why the restaurant lobby met the BMC Commissioner
The representatives of the Hotel and Restaurant Association – Western India (HRAWI) met BMC chief Iqbal Singh Chahal, with a request to extend the timings of restaurants and increase seating occupancy. We look at what transpired at the meeting.
BUSINESS
FMCG wrap: Challenges companies, retailers face in post-COVID world
Rajat Wahi, Partner at Deloitte Consulting said, “The COVID pandemic has impacted the growth of retail, which was expected to grow from 850-900 Billion USD to 1.2 Trillion USD by 2022 and this will now likely get pushed back to 2023-24 due to the slowdown in offline retail."
BUSINESS
Restaurant association locks horns with food-delivery aggregators Zomato and Swiggy over commissions
Zomato and Swiggy say they have rolled out initiatives to support restaurants, which have been hit hard by the absence of dine-in customers. The restaurant association has dismissed these initiatives as hogwash and says the need of the war is to reduce commissions so that restaurants can keep their heads above water
BUSINESS
COVID-19 impact: Germ-protection market gets crowded, but it’s not all about minting money
While some experts say it makes business sense, others argue that it is important for companies to enter the segment to ensure that loyal and potential customers don’t go to other brands to solve new needs. Tata Consumer is the latest entrant into the segment.
COMPANIES
Retail CFOs say worst is behind, hope to recoup COVID losses this festive season
Many retailers are hoping to make up for their losses in the lockdown, with sales during the festival season
BUSINESS
Delivering the goods: How companies are forming unusual partnerships to connect with customers
FMCG companies ITC, Marico and Godrej Consumer Products have partnered with delivery services Zomato, Swiggy, Dunzo and Scootsy. Car rental firm Zoomcar and Uber have tied up online grocers for deliveries. Meanwhile Adidas has tied up with MacDonald’s for a sneaker range and Dabur has partnered SIS for personal protective equipment
INDIA
Healthy eating is high priority for 79% Indians since coronavirus outbreak: Mintel Survey
However, the average sodium in cereal launches in India was 76 percent higher than the global average. Only 18 percent of Indians have been reducing their salt intake in the 12 months to December 2019.
BUSINESS
Reduce commissions on takeaway services, restaurants plead Zomato, Swiggy
Restaurant lobby requests the food-service aggregators to reduce the commission by 5 percent, with effect from May 2020. Before Covid struck, both Swiggy and Zomato delivered around 20 lakh orders in a month. In August, Zomato indicated that it delivered 7 crore food orders after the lockdown was imposed in March. A month earlier, Swiggy said it had delivered 4 crore orders since the lockdown began
BUSINESS
Mumbai Power Cut: Malls say they have 100 percent power backup, unaffected by outage
Most parts of Mumbai reported a major power outage on the morning of October 12 due to a technical failure. Back up of mall generators lasts for 14 hours.
BUSINESS
80% percent of restaurants yet to open and 40% may never open again, says sector body HRAWI
Thin customer footfalls, staff shortages and working capital challenges mean it will be a while before things return to a semblance of normalcy for the hotel and restaurant sector
BUSINESS
Personal-care brands go gender-neutral to win over young consumers
Startups lead the change, launching a range of gender-neutral products like skin creams, shampoos, face scrubs and body-polishing oils
BUSINESS
Brands to remain cautious before signing up Bollywood stars as ambassadors in the wake of drugs controversy
With the Narcotics Control Bureau naming Deepika Padukone, Sara Ali Khan and Shraddha Kapoor, many brands are now downplaying their ads. Experts say their brand value may drop around 30 percent. In 2019, Padukone enjoyed a brand value of $93.5 million.
BUSINESS
Mutual fund monthly SIP inflows, AUM fall a tad in September; but SIP folios rise MoM
Assets under management (AUM) of mutual fund companies that have come through the systematic investment plan (SIP) route fell marginally to Rs 3.35 lakh crore in September
BUSINESS
MFs registers total outflows of nearly Rs 52,000 crore in September; debt schemes hit the most
Across all scheme categories, liquid funds posted the highest outgo of Rs 65,951 crore during the review period, followed by nearly Rs 5,000 crore outflows each from money market schemes and ultra-short duration funds
TRENDS
Unlock 5: Maharashtra govt issues clarification on timings of restaurants, bars
Hotel & Restaurants Associations (HRAWI) had written a letter to the Maharashtra Chief Minister Uddhav Thackeray seeking clarity on the issue.
BUSINESS
ITC remains hungry for lucrative acquisitions says ITC's Sameer Satpathy
ITC's personal care portfolio includes brands such as Essenza Di Wills, Fiama, Vivel, Engage, Savlon, Charmis, Shower to Shower, Nimyle, Nimwash and Superia brands.
BUSINESS
Unlock 5.0: Restaurant seek clarity on closing times, write to Maharashtra chief minister Uddhav Thackeray
Instead of easing and bringing relief to the Industry in the opening of Restaurants & Bars, the closure by 7PM will result in immense losses, says HRAWI in a letter to Maharashtra CM
BUSINESS
Theatres were shut, but this company sold tons of popcorn during the lockdown
Binge-watching drove sales of popcorn to a new high for Popcorn & Company, helping it to easily surpass its full-year sales in FY20 in just six months
BUSINESS
B S Nagesh steps down as chairman of retailers association; Bijou Kurien to take over
Bijou Kurien is also an Independent Director on several listed and unlisted companies, and advises select consumer product companies and mentors a few start-ups.
BUSINESS
Despite rise in gold prices customers looking to buy gold, says Tanishq CEO
With festive season inching closer, Tanishq launched the festive season collection called Ekatvam
BUSINESS
Amazon, Flipkart, Myntra all set to roll out festive season sales; to focus on fashion
Flipkart’s Big Billion Days and Myntra’s Big Fashion Festival start on October 16; Amazon is expected to reveal the dates for its Great Indian Festival sale soon
BUSINESS
Mall owners see a ray of hope as food courts, restaurants to open from October 5
For most malls, F&B is a popular section as customers who do not wish to shop end up grabbing a bite at the food court or a restaurant within the mall.
BUSINESS
Companies selling coffee-based beauty products eyeing bigger share of Rs 500-cr market
mCaffeine has sold more than 2.8 million products since inception in 2016. It aims to become a Rs 500 crore brand by FY23. The Beauty Co, which recently ventured into coffee and chocolate-based beauty products, wants to capture half the market size.
