Devika Singh
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Freelance journalist. Previous- Moneycontrol, Financial Express, Business Today, NDTV
Articles by Devika Singh
Frozen foods category growing rapidly on e-commerce channel: Abhay Parnerkar of Godrej Tyson Foods
The frozen foods category, which has been unable to scale up in the country due to a lack of infrastructure, is witnessing rapid growth on the e-commerce channel, says Abhay Parnerkar, CEO of Godrej Tyson Foods. According to Parnerkar, the channel has outrun modern trade and general trade in terms of growth in recent years.
Beer maker AB InBev enters the whiskey category in India
In a first, brewing company Anheuser-Busch InBev or AB InBev entered the spirits market in India with the launch of blended American whiskey under its brand Magnum Double Barrel in select markets. The move also is in line with its strategy to tap the trend towards premiumisation in the alcoholic beverages market in the country.
Partial wedding demand has already been captured: Ramesh Kalyanaraman of Kalyan Jewellers
After witnessing a surge in demand in the second quarter on the back of festivals, which included the auspicious jewelry-buying day Dhanteras, jewellers are looking forward to wedding season now. The projections of record 3.2 million or 32 lakhs weddings during the wedding season in November and December have particularly buoyed the industry. But Ramesh Kalyanaraman, executive director, Kalyan Jewellers feels that this demand has already been captured during the festive sales.
Exclusive: D2C skincare startup BrownSkin Beauty raises Rs 3.5 crore from Sequoia Capital India
Direct-to-consumer platform (D2C) skincare startup BrownSkin Beauty has raised $500,000 (Rs 3.5 crore) in seed funding from venture capital firm Sequoia Capital India at an undisclosed valuation, people close to the development told Moneycontrol. According to the sources, the fundraise discussions had been on since August and concluded recently.
Exclusive | Tata Consumer Products launches fruit-based drinks under NourishCo
FMCG major Tata Consumer Products has entered the fruit-based drinks market with the launch of Fruski Juice N Jelly drink under its subsidiary NourishCo FMCG major Tata Consumer Products (TCPL) has entered the fruit-based drinks market with the launch of Fruski Juice N Jelly drink under its subsidiary NourishCo. The product launch is in line with the company’s ambition to expand NourishCo’s product portfolio and become a major player in the non-alcoholic beverages segment, Vikram Grover, MD,...
Bikaji Foods IPO: How traditional savouries captured the organised packaged snacks market in India
Bikaji Foods is the largest manufacturer of Bikaneri bhujia with an annual production of 29,380 tonnes. (Image credit: www.bikaji.com) A few years back, chips and kurkure packets would mostly adorn aisles in grocery shops across the country but now they jostle with enticingly packed bhujia, sev and other local savouries. The upcoming initial public offering (IPO) of Bikaji Foods has put the spotlight on the huge inroads made by traditional snacks in the organised packaged snacks segment.
Rupee depreciation to worsen FMCG inflation woes
Packaged consumer goods makers have been locked in a seemingly never-ending battle with inflation since the onset of the COVID-19 pandemic in 2020. The fall in the rupee against the dollar is set to increase the input costs and inflate the import bills of the so-called fast moving consumer goods, or FMCG, companies, analysts say. In 2022, the rupee has fallen around 10 percent against the dollar.
Food aggregators vs restaurants: what’s cooking?
Tension brewing for months between restaurants and food aggregators reached a flashpoint with the former exiting Swiggy’s Dineout platform. The list of exits includes Impresario Handmade Restaurants, which houses brands like SOCIAL, Mocha, Smoke House Deli, and Salt Water Café, Simmering Foods and Restaurants, and Indigo Hospitality, which runs restaurants such as Indigo, Indigo Delicatessen and Neel.
Badshah acquisition to help Dabur become a complete food and beverage company: CEO Mohit Malhotra
Mohit Malhotra CEO, Dabur India (Image: Forbes India) Dabur India’s acquisition of spices company Badshah Masala will help the FMCG major expand its portfolio to food products and become a complete food and beverage player, CEO Mohit Malhotra has said. “We have the vision to extend our beverage portfolio to food and beverage portfolio and the acquisition is an attempt in that direction.
Unilever recall of dry shampoos not to impact India: HUL
Fast-moving consumer goods (FMCG) giant Unilever’s recall of dry shampoo products manufactured under brands like Dove, Tresemmé and other brands in the US and Canada markets will not impact India, the company’s Indian unit Hindustan Unilever (HUL) said. According to the company, it does not manufacture or sell the products in the Indian market. “HUL does not manufacture or sell dry shampoos in India.
What’s fuelling the popularity of breakfast cereals in India?
While the fast-moving consumer goods (FMCG) segment found the going tough during COVID-19, breakfast cereals seem to have gained popularity. According to Euromonitor International, a UK-based global market research firm, the breakfast cereals market in India, which was worth Rs 2,246 crore in 2017, touched Rs 3,495 crore in 2021. The breakfast cereals market in India, the company said, would continue growing at this momentum and its market size is likely to reach Rs 4,010 crore in 2022.
Run-up to peak festive season fails to uplift FMCG sales, rural demand
Sluggish rural demand and inflated prices of key raw materials hurt the second-quarter earnings of key packaged consumer goods makers like Hindustan Unilever, ITC, Tata Consumer Products (TCPL)and Colgate-Palmolive. What that means is the run-up to the peak festive season, which ended on Monday with Diwali, brought little or no cheer to packaged goods companies, known in industry slang as Fast-Moving Consumer Goods (FMCG) companies.
Reliance Retail reports 36% YoY jump in Q2 net profit to Rs 2,305 crore
Reliance Retail, the retail arm of Reliance Industries, reported over 44 percent jump in its revenue from operations for the second quarter at Rs 57,694 crore in the second quarter of FY23.
Inflation remains a challenge for FMCG industry: HUL management
HUL’s net material inflation (NMI) in the June quarter stood at 20 percent, while it climbed to 22 percent in the September quarter. Fast-moving consumer goods (FMCG) major Hindustan Unilever (HUL) is still struggling with inflation in key raw materials even as it sees the price of palm oil stabilise, an important commodity for the soap manufacturer.
Nestlé launches direct-to-consumer platform MyNestlé
FMCG and food products major on October 19 announced the launch of its direct-to-consumer platform MyNestle. With the announcement, the company has joined the ranks of HUL, ITC, Marico, etc, which too had launched their D2C platforms in the past. FMCG and packaged food products major Nestlé India has hopped onto the direct-to-consumer (D2C) bandwagon with the launch of its e-commerce platform MyNestlé, where consumers can buy all Nestle products.
V-Mart Retail, Unlimited’s e-commerce portals to be merged with LimeRoad: CMD Lalit Agarwal
Value fashion retailer V-Mart Retail plans to merge its online shopping platforms for V-Mart and Unlimited with recently acquired LimeRoad, the company’s chairman and managing director Lalit Agarwal told Moneycontrol. According to the CMD, the newly-acquired platform’s digital expertise will be used by the company to get a foothold in the e-commerce channel, and all V-Mart and Unlimited products will be available from LimeRoad in the future.
Festival-season cheer: Packaged food and beverage companies witness surge in sales
Packaged food companies are witnessing a surge in sales as the country experiences a ‘normal’ festival season after two years of gloom due to the COVID-19 pandemic. Companies operating in the segment, such as Parle Products, Amul, and Bikanervala Foods, reported a 15-20 percent growth in sales during the current phase of the festival season, compared to the pre-pandemic period, and expect to clock even higher sales during Diwali.
Rural FMCG sales decline in run-up to festivals, data shows
Sales of Fast-Moving Consumer Goods (FMCG) in rural areas declined last month in the run-up to the festive season as retailers kept inventory low amid concerns over inflation. Sales in rural areas fell 14.3 percent in September compared to August, according to retail intelligence firm Bizom.
Retailers baulk at proposal to share online sales revenue with shopping malls
The omnichannel model is encouraged by malls as it helps bring in the crowd and increases footfalls. As the online channel adds sales muscle to offline retailers, they are now faced with a new challenge. Given the significant sales from the channel, mall owners are seeking a share of this pie. The mall developers claim that several of these orders are processed using shopping mall premises, and hence, the retailers should share the revenue generated through these sales with them.
MC Explains: Why FMCG companies aren’t in a rush to lower prices
Festive fervour is at its peak and fast-moving consumer goods (FMCG) companies are expecting it to spark a revival in consumption, which has been tepid for some time. However, despite the prices of commodities such as palm oil and fuel dipping, these companies, while rolling out promotional offers and discounts, are yet to introduce widespread price cuts. FMCG companies have instituted price hikes quarter after quarter over the past year on the back of skyrocketing commodity prices.
Malls anticipate ‘bumper season’ this Diwali as pandemic ebbs
With the onset of the festivals, sales in shopping malls are surging, leading to expectations of a ‘bumper season’ this Diwali after two years of disruption due to the Covid-19 pandemic. According to Mukesh Kumar, chairman of the Shopping Centres Association of India, sales have already risen 25-30 percent from pre-pandemic levels.
Liquid detergent gains penetration in India even as handwash declines
Tide laundry detergent is shown on display in Compton, California, U.S., January 10, 2017. REUTERS/Mike Blake - RC17C51DE640 Liquid detergents have gained penetration in India even as handwashes, a liquid product that became popular during the pandemic, see a decline in usage. According to data from market research firm Kantar, detergent liquids had a penetration of 15.9 percent in July 2021 on MAT (moving annual total basis), which further went up to 19.8 percent in July 2022 on MAT basis.
Luxury brands get half of their sales from e-commerce: Saxena of Tata CLiQ Luxury
Gitanjali Saxena, business head – global luxury, Tata CLiQ Companies selling luxury products have changed their perception of e-commerce over the past few years as a significant portion of their revenue now comes from online sales, Gitanjali Saxena, business head of Tata CLiQ Luxury, told Moneycontrol in an exclusive interview. According to Saxena, luxury brands get 40-50 percent of their sales from e-commerce and have realised that a digital strategy is needed to be a serious player in India.
Bacardi to launch non-alcoholic cocktail mixers in India
Spirits company Bacardi has rolled out a range of premium cocktail mixers, its first-ever in the Indian market ahead of the festive season. The company has introduced two flavours Mojito and Long Island Tea under this new brand MIX’R, available in 500ml bottles which offer four-five servings each.
Carbonated drinks market yet to recover from COVID blues
Market experts said competition is set to intensify in the carbonated beverags segment following Reliance Retail’s acquisition of Campa Cola, a popular drink in India in the 70s and 80s. The carbonated drinks market in India is still reeling from the impact of COVID-19 and won’t cross pre-pandemic sales levels by both value and volumes for the third year in a row, according to estimates by Euromonitor International.
FMCG: Raw material prices fall but margins remain under pressure
FMCG companies such as Hindustan Unilever (HUL), ITC, Dabur, Marico, and Britannia are finally witnessing a much-needed fall in commodity prices, which have been a concern for the segment for more than a year now. Crude oil is at a nine-quarter low, and has dropped 9.5 percent in the second quarter (Q2) of fiscal 2023 compared to Q1. “Even on a month-on-month basis, it has moderated by 9.5 percent.
We expect to face several challenges during beta testing: Thampi Koshy, ONDC
Open Network for Digital Commerce (ONDC), the Indian government’s initiative to develop open e-commerce and democratise it for all players instead of a select few, is set to open for public trial soon. The company, for the past few months, tested the network with buyers and sellers.
Wow! Momo to launch Cuppa Thupka and sauces in big packaged foods push
(Image: Facebook: Wow! Momo) Quick service restaurant chain Wow! Momo is planning a big packaged foods push and aims to launch several new categories such as ‘Cuppa Thupka’ (noodles in soup), as well as sauces, while also expanding its frozen momo category. The company has hired a new CEO to head the segment and has raised an undisclosed sum in a Series D round to fund its FMCG ambitions. Momos and thupka are considered to be part of Tibetan and Nepali cuisine.
High growth in luggage segment to continue for next five quarters: Samsonite India CEO
Sales of luggage makers have surged as travel bounces back after more than two years of the pandemic. US luggage manufacturer Samsonite’s Indian unit said sales jumped 40 percent in January-June this year from levels in the same period in 2019, which was the company's best year so far, CEO Jai Krishnan told Moneycontrol. The company has grown 109 percent as compared to the same period in 2021, he added.
What Narasimhan’s appointment as global CEO means for Tata Starbucks?
Laxman Narasimhan will relocate from London to Seattle, to join Starbucks as their incoming CEO. Popular international café chain Starbucks is witnessing a change in leadership globally with Indian-origin Laxman Narasimhan set to take over as the new CEO from April next year. Narasimhan, who will be replacing the current CEO Howard Schultz, earlier this week announced his exit as the CEO of Reckitt, the maker of brands like Durex, Enfamil, and Mucinex, among others.
B2B general trade to hit $1.2 trillion by 2030 on online sales push: Redseer
The business-to-business (B2B) general trade in India is likely to grow to $1.2 trillion by 2030, driven by B2B e-commerce, which is emerging as a promising procurement solution for companies as well as retailers, according to Redseer Strategy Consultants said. The overall general trade channel, which drives the retail and FMCG sales in India, is set to double in size from $0.7 trillion to $1.4 trillion by 2030, it said.
What does Reliance Retail’s FMCG venture mean for the market?
With this foray, Reliance Retail will be competing with the likes of FMCG behemoths like Hindustan Unilever, Nestle, and Britannia. Reliance Retail’s announcement on August 29 that it would enter the packaged consumer goods segment has created buzz in the market. The retail giant’s entry into the so-called Fast-Moving Consumer Goods (FMCG) sector is set to intensify competition as it does in every new industry that its parent, Reliance Industries Ltd (RIL), enters, experts say.
Consumers can absorb price shocks: Britannia CEO Varun Berry
Varun Berry, CEO and MD, Britannia Industries The continuous price hikes by the FMCG companies as they battle inflation, have not hurt the segment, indicated Varun Berry, the CEO and MD of Britannia Industries while addressing an investor call after reporting first quarter results on August 4.
GST on unbranded food will create level-playing field for FMCG companies: Angshu Mallick of Adani Wilmar
Angshu Mallick, CEO, Adani Wilmar poses with the company's Fortune range of products. The imposition of a 5 percent goods and services tax (GST) on pre-packed labelled food items may have fanned fears of higher inflation but Adani Wilmar CEO and MD Angshu Mallick thinks the move bodes well for FMCG companies. The GST Council in July agreed on a 5 percent tax on single packages of food items like cereals, pulses, flour and paneer weighing up to 25 kg.
What helped Metro Brands’ record performance in Q1?
Footwear retailer Metro Brands posted an almost fourfold jump in revenue and its net profit surged to a record in the quarter ended June. Metro Brands said revenue in the June quarter was Rs 508 crore, up 288 percent year-on-year (YoY), from Rs 131 crore in the same period last year. The company turned to a net profit of Rs 106 crore from a loss of Rs 12 crore in Q1 last year.
Nestle India is more focussed on protecting its growth model amid inflation: Suresh Narayanan
Nestle India, as it battles inflation as well as a tepid demand scenario, is focussing on protecting growth instead of raising prices to maintain its profits margins, the company’s chairman and managing director Suresh Narayanan indicated while addressing investors during a virtual call on July 28. “In 2018, if you look at the CAGR of commodity inflation, it was at 3 percent and 15 percent in 2022. There are two ways in which the company can tackle this.
How Indian consumers are coping with inflation Original
As inflation wreaks havoc across product segments, consumers have started rationalising their spending on personal and household care purchases while continuing to spend on the food and beverage category, show the results of a recent study conducted by insights and consulting company Kantar Worldpanel.
It takes time to establish a brand in the market: IKEA India CEO Susanne Pulverer
IKEA has taken a cautious approach to the Indian market so far and while the company is far behind its initial plan to launch 25 stores in the country by 2025, according to the company’s CEO and CSO Susanne Pulverer, it has had its learnings in the country. “When we launched our first store, it was mostly theoretical plans.
Up to 80% of our sales originate online, says Shoppers Stop MD Venu Nair
Shoppers Stop is investing about Rs 12 crore quarterly to create a better omnichannel experience for the customer. As life returns to normalcy after the COVID-19 pandemic, consumers have adopted a more omnichannel approach triggering a change in the strategy of large retail stores, indicated Venu Nair, MD and CEO, Shoppers Stop. According to Nair, the company’s offline sales are heavily influenced by the digital channel and about 60-80 percent of its sales originate online.
Inflationary situation to remain volatile: Asian Paints’ CEO Amit Syngle
Asian Paints reported consolidated revenue of Rs 8,607 crore in Q1, a year-on-year (YoY) jump of 54 percent, as compared Rs 5,585.36 crore reported in the corresponding period last year. Inflation has returned to be a worry for the paint makers even as crude prices soften.
Another quarter of pain ahead for FMCG, indicate biggies HUL, ITC
Non-durables companies such as Hindustan Unilever Ltd (HUL) and ITC Ltd expect inflation to disrupt business for another quarter unless the monsoon revives the rural economy and spurs consumption. Top executives of both companies recently indicated that while the prices of some inputs have eased in June, those of several others remained elevated and were even at 10-year highs.
Mensa Brands eyes building $100-mn brands in the ethnic fashion category
Ananth Narayanan, Founder and CEO of Mensa Brands. E-commerce roll-up firm Mensa Brands has set its sights on the Rs 1.5-lakh-crore ethnic wear and accessories segment. The company has acquired four direct-to-consumer (D2C) brands — Karagiri, Anubhutee, Ishin, and Priyaasi — in the category in the last one year, and now plans to scale it up to be a $300-million business in the next five years, the company’s founder and CEO Ananth Narayanan told Moneycontrol.
Hotel business de-merger ‘very much’ on table: ITC chief Sanjiv Puri
Sanjiv Puri, chairman and managing director, ITC, said that the company will be exploring an alternate structure for the hotels business. Cigarettes-to-hotels conglomerate ITC is considering a de-merger of its hotel business, the company’s chairman and managing director Sanjiv Puri said at a press conference on July 21. “We had shared plans about an alternate structure for the hotel business before the pandemic, however, with COVID-19 we had to hold it back,” Puri said.
Restaurant Association welcomes Delhi High Court’s order staying the ban on service charge
The National Restaurant Association of India has welcomed the Delhi High Court order staying the ban on the levy of service charges by the industry. “NRAI has always been steadfast in its assertion that there is nothing illegal in levying of service charge and it is a very transparent system. We are very glad that the Delhi High Court has upheld and confirmed this view,” NRAI said in a statement.
HUL’s Q1 performance indicates large FMCG players gaining out of inflation
Hindustan Unilever Ltd (HUL) beat market expectations with a 14 percent year-on-year (YoY) jump in net profit and a 20 percent YoY increase in net revenue The company’s performance in the quarter was backed by a number of factors, but most notably by market share gains in various categories and a jump in sales by volume even as reduced the weight of some packaged products.
ITC to take FMCG brands to overseas markets: CMD Sanjiv Puri
Cigarettes-to-hotels conglomerate ITC, which has been strengthening its FMCG portfolio at home, is now looking at aggressively expanding it to overseas markets as well, chairman and managing director Sanjiv Puri said at the company’s 111th annual general meeting (AGM) on July 20.
HUL sees inflation rising further in September quarter
Sustained price rise in key commodities such as crude oil, crude-linked derivatives, barley and coffee and a deflating rupee are expected to result in higher inflation in the months ahead even as prices of a few commodities such as palm oil inch down, the management of FMCG major Hindustan Unilever (HUL) indicated at a post-earnings press briefing on July 19. “In June quarter, the net material inflation was about 20 percent of our total cost.
Godrej Consumer Products launches ready-to-mix bodywash
Godrej Consumer Products on July 19 launched a first-of-its-kind ready-to-mix bodywash in India under its brand Godrej Magic Bodywash. The product is an attempt by the company to drive the penetration of bodywash in the country, GCPL’s MD and CEO Sudhir Sitapati told Moneycontrol. “This is a big lesson for India because many of these categories have not been created with developing countries in mind. Frankly, they are all imports from the West,” Sitapati noted.
Consumption has come back across categories: Pepperfry founders
Office fitments became one of the highest selling furniture categories during the pandemic as people worked from home. As the pandemic eased and life returned to normalcy, the category, which grew by triple digits in FY21, posted a 40 percent decline in the following year, according to the founders of furniture retailer Pepperfry. “Most consumers, who needed work-at-home furniture, bought it in FY21.
Saugata Gupta is the highest-paid FMCG CEO in FY22
Representative Image (Image Courtesy: Pixabay.com) It pays to be the head of a fast-moving consumer goods (FMCG) company. Saugata Gupta, managing director and CEO, Marico, saw a significant jump of 157 percent in his total pay package in financial year 2022 (FY22) to emerge as the highest-paid CEO in the segment. Gupta’s pay package, Rs 14.02 crore in FY21, rose to Rs 36.1 crore in FY22.
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