By Pavan Lall, Fortune India Jun 9, 2023 For fashion designer Tarun Tahiliani, getting funding from a corporate house was incidental. It happened through a high-profile customer, none other than Aditya Birla Group chairman Kumar Mangalam Birla. Birla had been a customer of Tahiliani’s Ensemble some three decades ago when he was getting engaged. They stayed in touch over the years and at one stage discussed the need for an Indian fashion brand focused on scale and accessibility. “It came out of a conversation and was a two-year ambling route. I had asked if they were expanding their designer brand…
M. Sriram and Aditya Kalra, Reuters (MUMBAI/NEW DELHI) June 7, 2023 Starbucks is revamping its strategy to lure Indians, including children, with smaller, cheaper beverages as it looks to expand in small towns amid a fierce challenge from domestic startups in one of its fastest-growing markets. Among the first foreign coffee brands to enter tea-loving India, the U.S. giant has taken almost 11 years to open 343 stores, in contrast with private equity-backed chains Third Wave and Blue Tokai that opened about 150 in the last three years. "As you grow in size, you need to get new consumers," said…
Viveat Susan Pinto, Financial Express June 5, 2023 A lot has happened at the Cafe Coffee Day (CCD) since its founder VG Siddhartha tragically passed away on July 29, 2019. Once India’s largest cafe chain, with a peak store count of 1,752 outlets in FY19, the company, part of Coffee Day Enterprises (CDEL), has now slashed its footprint by over two-thirds to 469 outlets in FY23, its latest results show. The need to manage group debt and ensure that the business is profitable, say experts, has led to CCD shuttering stores over the last few years. The company was not…
Chloe Cornish in Mumbai and Eleanor Olcott in Hong Kong, Financial Times May 26 2023 India’s biggest company Reliance Industries is seeking to dominate the country’s $10bn online domestic fashion market, striking a deal with Shein that will allow the rapidly growing Chinese retailer to return to the world’s most populous nation. The retail unit of billionaire Mukesh Ambani’s petrol-to-telecoms conglomerate will tie up with Shein three years after India banned the online retailer’s app in its attempt to freeze Chinese companies out of the local market in retaliation for border clashes that had left at least 20 Indian soldiers…
Rochelle Britto & Shabori Das, The Economic Times May 25, 2023 “Taiyaar Hoke Aaiye”. It seems the tagline has worked for the company which has been able to attract investors who came prepared for its offer for sale (OFS). In a bid to reduce promoters’ shareholding down to 75% as per SEBI norms, Vedant Fashions, known for its ethnic wear brand Manyavar, floated the OFS on May 19 which saw huge participation — oversubscribed 1.4 times with bids for 34 million shares as compared to 24 million shares on the offer. The non-retail segment was oversubscribed 2.24 times. The shares…
Reliance Retail & 7-Eleven ending 5-year franchise deal in India @SagarMalviya_ET
@devangshu:"convenience stores pressured by q-comm; family-kiranas survive with lower overheads & different margin expectations than corps"
Speciality Restaurants expanding into high-margin QSR and cloud kitchen spaces - @devangshu shared his perspective on the opportunities and realities of managing a diverse "house of brands" in the food service sector #India #strategy #diversification
Geopolitical friction has again sparked renewed concerns over inflation and rising input costs for FMCG companies as @itmeansjustice @whysnavi write. @devangshu commented.
