Mukesh Ambani’s ₹10 Ice Cream Brand Shakes Up Market

Mukesh Ambani’s Reliance Consumer Products has launched a new ice cream brand called Bombay Creamery, with products starting at just ₹10 (10.53 cents), making it one of the most affordable entries in India’s premium dairy ice cream market. The rollout begins in western India and will expand nationwide soon, directly challenging established players like Amul, Kwality Wall’s, and Baskin-Robbins.

The brand is launched under Reliance Consumer Products Limited (RCPL), the FMCG arm of Reliance Industries Limited (RIL), marking Reliance's dedicated foray into the country’s burgeoning ice cream market.

The Bombay Creamery ice cream range includes an array of real ice creams across popular formats such as cones, cups, tubs, bars and sticks, with prices starting at Rs 10. Starting with immediate availability in Western India, Bombay Creamery Ice Creams will soon be rolled out pan-India.

Bombay Creamery: Key Highlights

• Brand name: Bombay Creamery
• Launch date: September 1, 2026
• Starting price: ₹10 (lowest among major brands)
• Formats available: Cones, cups, tubs, bars, sticks
• Positioning: “Accessible premium dairy ice cream” made with real dairy cream
• Initial rollout: Western India, with pan-India expansion planned soon
• Parent company: Reliance Consumer Products Limited (RCPL)

Market Impact

• Competitive pricing: Amul’s cheapest stick is ₹20, Reliance undercuts rivals by 50%
• Retail reach: Reliance can leverage its nationwide distribution network and retail presence
• Consumer strategy: Low entry price could convert first-time buyers into repeat customers
• Freezer network: Reliance expected to supply branded freezers to retailers

Bombay Creamery Vs Competitors

Brand	Cheapest Product Price	Positioning	Distribution Strength
Bombay Creamery	₹10	Accessible premium, real dairy	Reliance’s retail + JioMart
Amul	₹20	Mass-market, trusted dairy	Strong nationwide
Kwality Wall’s	₹25+	Global Unilever brand	Urban + semi-urban
Baskin-Robbins	₹60+	Premium international	Limited urban outlets
Mother Dairy	₹20+	Dairy cooperative	Delhi-NCR stronghold

Strategic Context

• Campa Cola relaunch: Sparked a price war in soft drinks
• FMCG push: Adds to packaged foods, beverages, personal care portfolio
• Analyst view: Pricing + distribution + consumer data ecosystem gives Reliance an edge

Risks & Challenges

• Brand loyalty: Amul and Kwality Wall’s enjoy strong consumer trust
• Cold chain logistics: Scaling nationwide requires reliable freezer networks
• Premium perception: Must balance affordability with premium dairy positioning

IAN Angel Fund Invests in Peping, Positioning India’s Functional Soda Brand for Billion-Dollar Potential

IAN Angel Fund, the evergreen fund of IAN Group, has led an INR 2.5 crore funding round in Peping, an FMCG startup building functional beverages for modern Indian consumers. The round also saw participation from other angel investors. The capital will be used to expand distribution, strengthen supply chain capabilities, invest in brand building, and launch new product flavours.

The investors' conviction in Peping is primarily driven by its focus on functional nutrition and demonstrated signs of repeat consumption. The company is positioned at an inflection point in India’s beverage market, particularly within the premium and health-focused segment, valued at around ₹10,000 crore and growing steadily. Functional beverages are among the fastest-growing sub-categories and are expected to cross ₹13,500 crore by 2033, driven by urban Gen Z and millennial consumers seeking healthier alternatives to sugary carbonated drinks.

Founded by Chirag Maheshwari and Prateek Maheshwari, Peping offers low-calorie prebiotic fizzy drinks and probiotic digestive shots designed for daily consumption.

Unlike niche kombucha brands, child-focused probiotic drinks, or clinical capsules, the company aims to create a great-tasting, affordable, and shelf-stable functional soda suited to Indian preferences. Its dual format of sodas for everyday drinking and shots for targeted digestive support allows the brand to address multiple consumption occasions.

Peping is available on Swiggy Instamart, Zepto, BigBasket, First Club, Namdhari’s, Ratnadeep, and over 200 retail outlets across Bengaluru. The brand is also present in gyms, cafés, and corporate offices through catering partnerships. The company has built its production facility using off-the-shelf components and brought soda canning in-house to improve margins and quality control, reflecting a capital-efficient operating approach.

Commenting on the fundraise, Chirag Maheshwari, Co-founder, Peping, said, “We are thrilled to welcome IAN Group on board alongside key co-investors Signal Ventures, Eleven Eleven, and other angels. Beyond sharing our excitement for Peping’s vision, they bring invaluable strategic expertise to accelerate our distribution expansion and strengthen brand presence.”

Chirag Maheshwari oversees production, online sales, and branding, with prior experience across consumer brands. Prateek Maheshwari leads distribution, offline sales, and finance, bringing experience in partnerships and scaling operations. The founders have known each other since childhood and bring complementary strengths across product and distribution, two critical pillars in consumer FMCG.

Functional sodas have already seen strong success globally. In the US, brands like Olipop and Poppi have built billion-dollar outcomes, with growing consumer demand for prebiotic drinks that combine taste and health. With Peping’s foundational strategy of building a scalable FMCG brand in an under-penetrated but critical category, there is strong potential to build a scalable, health-driven brand in India.

In India, the category is still early, but the timing is right. Nearly 70% of urban Indians report digestive concerns, and while probiotic habits exist culturally through foods like curd and kanji, there has been no modern, ready-to-drink format at scale. With the rise of quick commerce, distribution has become faster and more viable for new-age beverage brands.

About Peping

Peping is building the next generation of better-for-you beverages for India, starting with the gut. Its portfolio includes low-calorie prebiotic fizzy drinks and probiotic digestive shots. With a growing presence across online and offline retail channels, Peping is emerging as a brand for everyday tasty and functional beverages.

About IAN Angel Fund

IAN Angel Fund, the evergreen fund of IAN Group, is a SEBI-registered Category I AIF and part of India’s leading early-stage investment platform, which pioneered angel investing in the country. IAN invests through its Angel Fund and venture capital funds, backed by a network of over 250 angel investors from India and overseas. The platform enables founders to raise capital from ₹50 lakh to ₹50 crore while offering investors a diversified early-stage portfolio.

About IAN Group

IAN Group is India’s largest horizontal platform for early-stage investments, comprising the IAN Angel Fund, BioAngels, and a series of SEBI-registered venture capital funds, including the US$100 million IAN Alpha Fund. IAN supports entrepreneurs with capital, mentoring by experienced founders, and access to global markets. Forbes has recognised IAN as one of the most iconic business and economic developments of Independent India over the last 75 years, alongside institutions such as LIC, NASSCOM, the RBI, and Naukri.com.

Wipro Consumer Care Targets Local FMCG Brands with ₹7,000 Cr Fund

Wipro Consumer Care & Lighting has set aside ₹6,000–7,000 crore to acquire regional brands in higher-margin categories, focusing on personal care and fast-growing consumer segments reported the economic times, citing the company’s Chief Executive Vineet Agrawal. 

Key highlights

• War chest size: ₹6,000–7,000 crore earmarked for acquisitions.
• Target focus: Regional brands with strong local presence, especially in personal care and other higher-margin categories.
• Strategy: Prefers established local brands rather than building new ones, to accelerate market expansion efficiently.
• Recent moves: Wipro Consumer Care recently acquired three soap brands—Jo, Doy, and Bacter Shield—from VVF India to strengthen its personal care portfolio.

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Strategic rationale

• Higher-margin categories: Personal care, skincare, and niche FMCG segments typically deliver better profitability compared to commoditized categories like packaged foods.
• Regional strength: Local brands often have deep consumer loyalty and distribution networks, making them attractive for scaling.
• Portfolio diversification: Expanding beyond flagship products like Santoor soap into broader categories helps Wipro compete with giants like HUL, Dabur, and Marico.

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Market context

• Growth of regional and niche brands: India’s FMCG sector is witnessing rapid growth in regional and niche brands, especially in Tier-2 and Tier-3 cities.
• Local trust: Consumers increasingly prefer trusted local names in personal care, herbal, and wellness categories.
• Competitive moves: Competitors (e.g., HUL acquiring regional ayurvedic brands, Marico investing in D2C startups) are following similar strategies, highlighting the importance of localized acquisitions.

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Risks & challenges

• Integration risks: Aligning acquired brands with Wipro’s supply chain and marketing strategy may be complex.
• Valuation pressures: With multiple FMCG players chasing regional brands, acquisition costs could rise.
• Consumer perception: Over-commercialization of local brands may dilute their authenticity if not managed carefully.

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Outlook

Wipro Consumer Care’s aggressive acquisition strategy signals its intent to scale rapidly in India’s fragmented FMCG market. By leveraging its financial reserve, the company is positioning itself to capture emerging consumer trends in personal care and wellness, while strengthening its competitive edge against larger rivals.

Would you like me to map out potential acquisition targets in India’s personal care and wellness space (e.g., regional herbal, ayurvedic, or niche skincare brands) that fit Wipro’s strategy?

ENRISSION INDIA CAPITAL Backs Nova Nova to Redefine Gen Z Snacking in India

ENRISSION INDIA CAPITAL announces its investment in Nova Nova, a bold and fast-growing Gen Z–focused D2C chocolate brand in India. The investment, made as part of Nova Nova’s Pre-Series A round through our fund, marks a key step in supporting the next generation of consumer-first food brands.

India is home to over 377 million Gen Z consumers—nearly 40% of the population—who are reshaping the snacking landscape with their demand for lighter, on-the-go indulgences. Nova Nova is at the forefront of this shift, offering playful, bite-sized chocolate formats that are fun, shareable, and designed for everyday enjoyment.

Founded by Harsh Gadia and Nidhi Gadia, Nova Nova has quickly carved out a distinct space in India’s sweet-snacking market. The digital-first brand stands out for its focus on product innovation and format-driven storytelling, engaging modern consumers with indulgent, everyday snacking experiences that match their evolving tastes.

Harsh Deodhar, Principal at ENRISSION INDIA CAPITAL, said, 

Nova Nova captures the essence of what today’s young consumers seek authenticity, creativity, and an emotional connection with the brands they love. With this investment, we look forward to partnering with Harsh and Nidhi as they scale Nova Nova’s presence, expand product innovation, and strengthen its position as a new-age chocolate brand built for global appeal.

Harsh and Nidhi Gadia, Co-founders of Nova Nova, said,

At Nova Nova, we recognised a gap between traditional treats and modern snacking, and an opportunity to create an indulgent, engaging brand of chocolate that speaks to the aspirations and lifestyle of today's consumers. Partnering with ENRISSION INDIA CAPITAL helps us accelerate that vision—to reach more consumers, introduce new product formats, and bring sparks of joy and indulgence to their everyday life.

At ENRISSION INDIA CAPITAL, we are focused on backing visionary founders who are reimagining consumer behavior through innovation and design. Nova Nova exemplifies this ethos by redefining how India’s Gen Z experiences chocolate—making sweet moments more frequent, fun, and meaningful.

With this investment, ENRISSION INDIA CAPITAL and Nova Nova are partnering to bring a fresh take on indulgence to the Indian market, paving the way for a new era in everyday snacking.

BSE Index Services launches BSE Multicap Consumption (50:30:20) Index

BSE Index Services Pvt. Ltd., a wholly owned subsidiary of BSE, today announced the launch of a new index - BSE Multicap Consumption (50:30:20) Index. The BSE Multicap Consumption (50:30:20) Index aims to track the performance of stocks representing the Consumption theme. Top 100 stocks from a universe of stocks belonging to the MEI Sectors ‘Consumer Discretionary’ or ‘Fast Moving Consumer Goods (FMCG)’ would be included in the index.

The BSE Multicap Consumption (50:30:20) Index is derived from the constituents of BSE 500 Index, weighing method is Float-Adjusted Market Cap with the base value as 1000. The first value date is 19th December 2005, and it is reconstituted Semi-annually in June and December.

Speaking at the launch, Mr. Ashutosh Singh, MD & CEO said, “The BSE Multicap Consumption Index offers a holistic representation of India’s enduring consumption story across market capitalizations, a theme that the government of India has repeatedly supported through various policy and taxation measures. Designed with investors and asset managers in mind, the index provides a robust benchmark and an investable framework for gaining access to a diversified portfolio of consumption-oriented companies”

This new index can be used for running passive strategies such as ETFs and Index Funds as well as gauging the performance of Consumption sector in India. It can also be used for benchmarking of PMS strategies, MF schemes and fund portfolios. Investors can now access a broader spectrum of market opportunities, further enriching their investment strategies with this latest addition to BSE's suite of indices.

Click here to know more about the index.

Reliance to Build ₹1,500 Cr Food Factory in Nagpur, Create 500+ Jobs

Reliance Consumer Products Ltd (RCPL), the FMCG arm of Reliance Industries, is making a major move in Maharashtra’s industrial landscape with a ₹1,500 crore investment to establish an integrated food and beverage manufacturing facility in Katol, Nagpur.

Project Highlights

• Location: Katol, Nagpur district, Maharashtra
• Investment: ₹1,500 crore (₹1,513 crore as per some reports)
• Employment: Expected to generate over 500 direct jobs
• Timeline: Operations slated to begin in 2026
• Government Support: Maharashtra government signed an MoU to facilitate approvals, clearances, and financial incentives

Strategic Context

This facility is part of RCPL’s broader ambition to become India’s largest FMCG company with global reach.
At Reliance’s recent AGM, Isha Ambani revealed:

• RCPL aims to hit ₹1 lakh crore in revenue within five years
• Plans include ₹40,000 crore investment in AI-driven, sustainable food parks across India

Product Expansion

RCPL has been rapidly scaling with brands like:

• Independence (staples and packaged foods)
• Campa, Alan’s, Enzo, Ravalgaon, and Tagz Foods

This Nagpur facility will likely serve as a key node in their distribution and manufacturing network, enhancing both regional employment and national supply chain capabilities.

India’s First Prebiotic Soda Brand Misfits Attracts Strategic Investors in Seed Round

Misfits, India's pioneering prebiotic soda brand, today announced the successful completion of its seed funding round, raising an undisclosed amount from a consortium of prominent investors. The round was led by Nu Ventures, seasoned angel investor Subba Rao Telidevara, Turiya Advisory Services’ Managing Director Bijoy Daga; and renowned corporate finance and strategic investment consultant Robert Pancras.

Founded by brothers Aditya and Yash, Misfits has disrupted India's beverage industry by introducing the country's first prebiotic soda that combines bold taste with gut-friendly benefits. The brand's flagship product contains zero added sugar and are low in calories, positioning itself as a healthier alternative to traditional carbonated drinks.

The funding will be utilized to enhance production capabilities, expand distribution networks, and accelerate market penetration across India. Since its launch, Misfits has gained significant traction with consumers seeking functional beverages that deliver both taste and health benefits.

Left to right - Aditya Pai & Yash Pai(Co-founders of Misfits)

"We are thrilled to partner with investors who share our vision of revolutionizing India's beverage landscape," said Aditya Pai, Co-founder of Misfits. "This funding validates our mission to provide consumers with a guilt-free alternative to sugar-loaded sodas while supporting gut health through innovative prebiotic formulation."

Yash Pai, Co-founder of Misfits, added, "The investment will enable us to scale our operations and introduce new flavors while maintaining our commitment to clean-label ingredients and functional benefits. We're excited to build a brand that resonates with health-conscious consumers across India."

The funding round reflects growing investor confidence in India's functional beverage market, where consumers increasingly prioritize health benefits alongside taste preferences. Misfits' unique positioning as India's first prebiotic soda addresses this evolving consumer demand.

"Misfits represents exactly the kind of innovative brand that can transform traditional categories," said Venk Krishnan, Founder of Nu Ventures.

"The founders have identified a genuine market gap and developed a product that delivers authentic functional benefits while maintaining the taste profile consumers expect from carbonated beverages. Their approach to building a health-focused alternative in the soda category has tremendous potential for market disruption." said Subba Rao Telidevara, angel investor and former industry executive.

Misfits differentiates itself through plant-based ingredients, natural sweeteners, and zero preservatives, appealing to conscious consumers who value transparency and health benefits. The company's clean-label approach includes providing third-party lab reports, enabling informed consumer decision-making and building trust in the functional beverage space.

Founded by brothers Aditya and Yash, Misfits is India's first prebiotic soda brand committed to providing healthier alternatives to traditional carbonated beverages. The Mumbai-based startup combines functional ingredients with bold flavors to create products that support digestive health while delivering the taste experience consumers expect from premium sodas. With its clean-label approach and innovative formulation, Misfits is redefining what fizzy drinks can be in the Indian market.

Wilmar Tightens Grip on AWL with ₹7,150 Cr Stake Buy, Adani Group Exits FMCG

Wilmar International is making a strategic move to deepen its footprint in India’s agribusiness sector. Here's the key breakdown:

Deal Overview

• Acquirer: Wilmar International, via its subsidiary Lence Pte Ltd
• Target: AWL Agri Business Ltd (formerly Adani Wilmar Ltd)
• Stake: Up to 20% (minimum 11%) of paid-up equity
• Valuation: ₹7,150 crore at ₹275 per share

Ownership Shift

• Wilmar currently holds 43.94% in AWL.
• Post-acquisition, its stake will rise to between 54.94% and 63.94%, making it the majority shareholder.

Adani Group’s Exit Strategy

• Adani Group is exiting the FMCG business to focus on infrastructure.
• Already sold:
• 13.51% stake in Jan 2025 for ₹4,855 crore
• 20% stake in July 2025 to Wilmar
• Plans to divest the remaining 10.42%, completing a full exit

Regulatory Filing

Wilmar has filed with the Competition Commission of India (CCI) under Section 5(a) of the Competition Act, 2002.

The parties assert no competition concerns and no need for market delineation

This move not only consolidates Wilmar’s control over AWL but also signals a broader pivot in India’s agribusiness landscape.

UAE-based Alpha Wave Buys 6% Stake in Haldiram's

Alpha Wave, a UAE-based investment fund, has acquired a 6% stake in Haldiram's for ₹5,600 crore. This follows a recent 9% stake sale to Singapore's Temasek. These investments are part of Haldiram's strategy to expand its presence and prepare for a potential IPO.

Haldiram's is valued at ₹84,000 crore after merging its Nagpur and Delhi businesses, is now exploring further stake sales and regulatory approvals to strengthen its market position.

Based in the UAE, Alpha Wave is known for its investments in high-growth sectors, including companies like SpaceX. The acquisition of 6% stake in Haldiram's for ₹5,600 crore is part of Haldiram's strategy to prepare for an IPO and expand its market presence.

Haldiram's journey from a family-run business to a global snack giant is fascinating indeed.

The recent investments by Alpha Wave and Temasek signal a transformative phase for Haldiram's. The funds can be utilized to innovate their product line, enhance manufacturing capabilities, and expand their distribution network.

With the financial backing of prominent investors, Haldiram's can strengthen its presence in international markets, tapping into the growing demand for Indian snacks worldwide.

These investments help establish a strong valuation for the company, paving the way for a potential Initial Public Offering (IPO). This could further boost their market presence and attract more investors.

With increased resources, Haldiram's can better compete in the fast-moving consumer goods (FMCG) sector, both domestically and globally.

This is a pivotal moment for Haldiram's as it transitions from a family-run business to a global powerhouse. What aspect of this journey intrigues you the most?

Haldiram's to Sell 10% Stake to Temasek

Haldiram Snacks Food, India's leading snacks and sweets company, has announced a strategic partnership with Singapore-based investment firm Temasek. Temasek will acquire a 10% equity stake in Haldiram Snacks Food at a valuation of $10 billion (approximately ₹85,000 crore). This deal is considered the largest private equity consumer transaction in India.

The investment will support Haldiram's ambitious expansion plans, both domestically and internationally, enhancing its presence in the competitive global snacks market. The transaction is subject to regulatory approvals and is expected to close soon.

The deal is subject to regulatory approvals and is expected to close soon.

Additionally, Haldiram is reportedly in discussions to sell an additional 5-6% stake, potentially raising another $500 million. This could further bolster its growth initiatives.

The Indian snacks market is projected to grow significantly, from ₹42,694.9 crore in 2023 to ₹95,521.8 crore by 2032. This positions Haldiram well for future growth.

Haldiram's journey from its humble beginnings in 1937 in Bikaner, Rajasthan, to becoming a global brand with products sold in over 80 countries is remarkable. This partnership with Temasek marks another milestone in its growth story.

The funds raised will be used to support Haldiram's ambitious expansion plans, both domestically and internationally. The company aims to strengthen its presence in the competitive global snacks market.

PwC's investment banking team acted as the exclusive financial advisor for the transaction, while Khaitan & Co provided legal advisory services.

FMCG Sector Revenue To See A Mild 100-200 bps Recovery to 6-8% Next Fiscal

Urban demand recovery to be gradual, rural demand to remain steady, credit profiles to be stable

The fast-moving consumer goods (FMCG) sector should see revenue rebound 100 to 200 basis points (bps) to 6-8% in fiscal 2026, compared with a more modest 5-6% expected in fiscal 2025* as volume rises 4-6% on a gradual recovery in urban, and steady rural, demand.

Traditional FMCG companies will continue to target acquisition of direct-to-consumer (D2C) brands, increase adoption of digital channels, and introduce more lower price packs and products amidst rising competition to support volume growth, which has remained subdued over the past few fiscals.

Another ~2% revenue uptick should come from realisations as FMCG companies partly pass on the impact of inflation in key categories such as soaps, biscuits, coffee, hair oil and tea. The pricing actions will be driven by elevated prices of key inputs such as palm oil (a key input for all three segments – F&B, personal care and home care), coffee, copra and wheat.

Operating profitability is expected to stay flat but healthy at 20-21% in fiscal 2026, after a 50-100 bps decline in fiscal 2025. All said, credit profiles of FMCG companies are expected to remain stable.

A Crisil Ratings study of 82 FMCG companies, accounting for a third of the sector’s estimated Rs 5.9 lakh crore revenue this fiscal, indicates as much.

The urban segment accounts for ~60% of revenue and rural markets the rest. By category, food and beverages generates nearly half of the sector’s revenue, and personal care and home care a quarter each. 

High food inflation, elevated interest rates and sluggish wage growth impacted urban consumption across segments in fiscal 2025, with personal care and certain F&B sections taking a bigger hit. Rural volume has recovered and outpaced urban in the past few quarters after another spell of adequate monsoon.

Anuj Sethi, Senior Director, Crisil Ratings, said, “We expect a modest recovery in volume as moderating food inflation, easing interest rates and tax relief measures announced in the Union Budget for next fiscal encourage urban demand. Rural demand will grow steadily given continuing allocation to welfare schemes^ and a hike in minimum support prices.”

Apart from the macro factors, traditional FMCG companies have had to contend with rising competition. Regional and local companies have been gaining with consumers downtrading to lower-priced brands. Besides, rising preference for digital channels has opened distribution avenues on a much larger scale for D2C companies.

Aditya Jhaver, Director, Crisil Ratings, says, “On their part, traditional FMCG companies have been taking steps to push growth. Apart from seeking D2C brand acquisitions and increasing digital advertising to push premium products, they have introduced affordable packs and increased distribution reach across hinterland. With quick commerce now accounting for ~30% of the e-commerce channel, companies have been introducing exclusive packs for such platforms. These measures are gradually enabling traditional FMCG companies to withstand competitive intensity.”

Despite the modest revenue growth, the credit profiles of FMCG companies in the Crisil Ratings portfolio remain stable, supported by their healthy cash generating ability, strong balance sheets and sizeable liquid surpluses.

Going ahead, input price, monsoon and utilisation of higher disposable incomes by households will bear watching.

^ - Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS); Pradhan Mantri Gram Sadak Yojana (PMGSY) and Pradhan Mantri Awas Yojana (PMAY):

For FY26, the allocation has increased by 23.7% on-year as per budget documents.

*- This is lower than Crisil Ratings estimate of 7-9% for fiscal 2025 owing to subdued urban demand. Please refer the link of the previous press release:

https://www.crisilratings.com/en/home/newsroom/press-releases/2024/07/fmcg-sector-to-see-revenue-growth-of-7-9-percent-this-fiscal.html

Hindustan Unilever Reportedly in Talks to Acquire Minimalist for ~$350 Mn

FMCG giant Hindustan Unilever (HUL) is reportedly in talks to acquire the direct-to-consumer (D2C) beauty brand Minimalist for around Rs 3,000 crore (approximately $350 million). This move is part of HUL's strategy to diversify into high-margin segments, especially in the digital space.

Minimalist, known for its skincare, body care, and hair care products, has seen significant revenue growth and profitability recently.

HUL is considering acquiring a majority stake, but it could potentially lead to a 100% acquisition. Minimalist has raised funding from institutional investors such as Peak XV Partners, Unilever Ventures, and Twenty Nine Capital Partners. Peak XV Partners is the brand's largest investor.

The founders, Rahul Yadav and Mohit Yadav, collectively own nearly 84% of the company, while Peak XV Partners holds a 6% stake.

HUL has previously invested in other digital-first brands like Oziva and Wellbeing Nutrition.

Minimalist has seen impressive growth, with its revenue jumping 86% to Rs 350 crore in FY24, and its profit doubling to Rs 10.8 crore. In FY22, it reported a profit of Rs 16 crore on a revenue of Rs 112 crore.

This development reflects the ongoing consolidation trend in the consumer goods industry.

This acquisition could mark another instance of a fast-growing online D2C brand being acquired by a large enterprise, reflecting the ongoing consolidation trend in the consumer goods industry.

Of late, there were few D2C brands that have been acquired by FMCG giants. Marico has been quite aggressive in its D2C acquisition strategy. The company acquired men's grooming startup Beardo, health foods company True Elements, beauty brand Just Herbs, and plant-based products brand Plix. These acquisitions have helped Marico diversify its portfolio and tap into the growing D2C market.

Emami has also entered the D2C segment by acquiring The Man Company and acquired 19% equity stake in D2C nutrition firm TruNative F&B Pvt Ltd. These acquisitions are part of Emami's strategy to compete with emerging D2C brands and expand its presence in the personal care market.

Adani to Completely Exit Adani Wilmar JV, Sells Shares for $2 Bn

Wilmar International has announced that it has entered into an agreement to acquire a significant stake in Adani Wilmar Limited. Specifically, Lence Pte. Ltd., a wholly-owned subsidiary of Wilmar International, will acquire up to 31.06% of the existing paid-up equity share capital of Adani Wilmar.

Additionally, Adani Enterprises Limited (AEL) will divest about 13% of its shares in Adani Wilmar to meet minimum public shareholding requirement.

This move will allow AEL to completely exit its 44% holding in Adani Wilmar, and the proceeds from the sale will be used to boost investments in core infrastructure platforms like energy, utility, transport, and logistics.

The proceeds from the sale of Adani Enterprises' stake in Adani Wilmar, estimated to be over USD 2 billion, will be used to boost investments in core infrastructure areas like energy, utilities, transport, logistics, and other important sectors.

The financials of Adani Wilmar Limited are quite impressive. As of December 27, 2024, the market value of Adani Wilmar was approximately Rs 42,785 crores ($5 billion). In the first half of the fiscal year 2024-25, Adani Wilmar reported an 18% year-on-year revenue growth to ₹14,460 crore and a highest ever half-yearly Profit After Tax (PAT) of ₹624 crore.

However, in FY24, the company's EBITDA was down by 29% due to market factors and challenges in Bangladesh, where it is the largest edible oil company.

All Indian Salt and Sugar Brands, Packaged or Unpackaged, Contain Micro Plastics - Study

A recent study by the environmental research organization Toxics Link revealed that all tested Indian salt and sugar brands, whether packaged or unpackaged, contain microplastics.

The study, titled "Microplastics in Salt and Sugar" and conducted by the environmental research organisation Toxics Link, examined 10 varieties of salt-as well as five varieties of sugar, procured from both online and local markets.

The findings disclosed the presence of microplastics in all tested samples of salt and sugar, manifesting in various forms such as fibres, pellets, films, and fragments. These microplastics ranged in size from 0.1 mm to 5 mm.

Notably, iodised salt exhibited the highest concentration of microplastics, primarily in the form of multi-coloured thin fibres and films.

The study analyzed 10 types of salt (including table salt, rock salt, sea salt, and local raw salt) and five types of sugar purchased from both online and local markets. These microplastics were found in various forms, including fibers, pellets, films, and fragments, with sizes ranging from 0.1 mm to 5 mm. The much over-hyped iodized salt had the highest concentration of microplastics (89.15 pieces per kilogram), while organic rock salt had the lowest (6.70 pieces per kilogram). This discovery underscores the need for comprehensive research into the long-term health impacts of microplastics on human health, as these tiny plastic particles can enter our bodies through food, water, and air.

The potential health risks of consuming microplastics are a growing concern. Although research is ongoing, below are some known and suspected effefood. 
1. Gastrointestinal Issues: Microplastics can accumulate in the digestive tract, potentially causing irritation, inflammation, and disruption of gut microbiota.

2. Toxic Chemicals: Microplastics can absorb and release toxic chemicals (such as phthalates and bisphenol A) that may leach into the body upon ingestion.

3. Immune System Impact: Exposure to microplastics might affect immune responses, althoLgh the exact mechanisms are not fully understood.

4. Organ Damage: Some studies suggest that microplastics could harm organs like the liver, kidneys, and lungs.

5. Cancer Risk: While not definitively proven, there's concern that long-term exposure to microplastics could increase cancer risk.

It is to be noted that minimizing plastic use and supporting sustainable practices can help reduce microplastic pollution.

The Food Safety and Standards Authority of India (FSSAI) has taken swift action in response to the alarming findings from the study by Toxics Link.

In March 2024, FSSAI launched an ambitious project titled “Micro-and Nano-Plastics as Emerging Food Contaminants: Establishing Validated Methodologies and Understanding the Prevalence in Different Food Matrices.”

On August 18, 2024, FSSAI then launched an innovative project to address the growing concern of microplastic contamination in Indian food. The project aims to develop and validate analytical methods for detecting micro and nano-plastics in various food products. It also assesses their prevalence and exposure levels in India.

FSSAI collaborates with leading research institutions across the country, including the CSIR-Indian Institute of Toxicology Research (Lucknow), ICAR-Central Institute of Fisheries Technology (Kochi), and the Birla Institute of Technology and Science (Pilani).

The project focuses on developing standard protocols for micro/nano-plastic analysis, conducting intra- and inter-laboratory comparisons, and generating critical data on microplastic exposure levels among consumers.

While global studies highlight the presence of microplastics in various foods, this project specifically generates reliable data for India. It will guide the formulation of effective regulations and safety standards to protect public health.

The project aims to:

• Develop Detection Methods: FSSAI is working on standard protocols to detect micro and nano-plastics in food items. 
• Assess Prevalence: By assessing the prevalence and exposure levels of these harmful particles, FSSAI aims to improve food safety across India.
• Establish Safety Standards: The initiative focuses on understanding the prevalence of microplastics in different food matrices, which are the materials that make up the food products we consume.

This proactive step by FSSAI underscores the gravity of microplastic contamination and its potential health risks.

LTIMindtree and Aforza Setup Virtual Training Academy

LTIMindtree's partnership with Aforza goes beyond just offering Aforza's solutions. To ensure successful implementation and maximize client benefit, LTIMindtree has established a dedicated Aforza Training Academy. This virtual academy, led by Aforza's Customer Success Enablement team, focuses on training and certifying a team of LTIMindtree consultants into Aforza experts. 

This academy is a strategic investment for both companies. LTIMindtree gains a team with deep understanding of Aforza's CRM and TPM solutions, specifically designed for the Consumer Products industry. This will allow LTIMindtree to deliver superior service and drive digital transformation for their clients in this sector [3]. Aforza, on the other hand, benefits from a wider reach through LTIMindtree's established network and expertise in digital transformation.

Overall, this partnership with the Aforza Training Academy at its core is a win-win for both companies, enabling them to empower Consumer Product businesses with cutting-edge solutions and industry-specific knowledge.

This collaboration aims to empower businesses to grow profitably and safeguard margins through comprehensive omnichannel pricing control. It will enable access to real-time data insights, enhancing planning and decision-making capabilities. Additionally, the partnership promises to boost field productivity throughout the value chain by delivering a world-class user experience. With industry-specific offline mobile apps, professionals can work from anywhere, ensuring flexibility and efficiency. 

The initiative will also focus on increasing distribution, availability, stock accuracy, and fulfilment rates. Furthermore, it will provide robust measures to manage compliance issues effectively and prevent fraud, ensuring a secure and compliant operational environment.

Overall, this partnership with the Aforza Training Academy at its core is a win-win for both companies, enabling them to empower Consumer Product businesses with cutting-edge solutions and industry-specific knowledge.

Aforza is a software company founded in 2019 that offers a cloud-based solution called the Consumer Goods Industry Cloud. This platform is designed specifically to address the needs of businesses in the Consumer Goods industry. It goes beyond a simple CRM (Customer Relationship Management) system, also encompassing Trade Promotion Management (TPM) functionalities.

Aforza is built on the Salesforce and Google Cloud Platforms which means they can scale fast and deliver continuous innovation with 3 releases a year. It offers a suite of tools that tackle various aspects of sales and planning for Consumer Goods companies.  

Tata Consumer Products to Acquire Two Big Brands – Organic India and Capital Foods, Owner of 'Ching’s Secret' and 'Smith & Jones'

One of the companies of Tata Group, Tata Consumer Products Ltd (TCPL), has announced that it has signed definitive agreements to acquire two big brands under FMCG category — Capital Foods and Organic India.

For Capital Foods, TCPL has signed definitive agreements to acquire 100% equity shares of the company, which owns brands like ‘Ching’s Secret’ and ‘Smith & Jones’.

TCPL will acquire Capital Foods in a phased manner. 75% of the equity shareholding will be acquired upfront and the balance 25% shareholding will be acquired within the next 3 years.

For Organic India, which is a FabIndia-owned brand, TCPL will acquire up to 100% of the issued equity share capital of the company that is known for its organic herbal and Ayurvedic health products. The acquisition of Organic India will create a Health & Wellness platform for Tata Consumer Products.

Launched in 1995 by Ajay Gupta, Capital Foods has strong umbrella platform brands with a portfolio of unique products for in-home consumption in fast growing categories. Capital Foods' Ching’s Secret is a market leader in Desi Chinese across its product categories - Chutneys, Blended Masalas, Sauces and Soups. Smith & Jones is a fast-growing brand catering to in-home cooking of Italian and other western cuisines. Overall, Capital Foods has #1 or #2 positions in five large categories.

The overall size of the categories in which Capital Foods operates in is estimated at ₹ crores. Structural growth drivers for the category include continued growth in income levels, evolving consumer preferences leading to increased salience of global cuisines in in-home cooking and increasing need for convenience.

The acquisition of Capital Foods will enable Tata Consumer Products to expand its product portfolio and further strengthen its pantry platform. There are significant synergy benefits with the existing businesses of Tata Consumer Products in areas spanning distribution, logistics, exports and overheads.

Ajay Gupta, Founder of Capital Foods said, “To be associated with the iconic Tata Group is a dream come true for me. Just the name, ‘Tata’, instils a sense of trust and pride in every Indian. Like Capital Foods, Tata is a home-grown brand that is globally recognised. Tata Consumer Products is a multi-conglomerate that spans the globe with quality food ingredients and products. In 28 years, from 3 bottles of sauces, to an entire ‘Desi Chinese’ cuisine block, Ching’s Secret has become a brand to be reckoned with. Smith & Jones covers another food block with tremendous potential. Together, Tata and Capital Foods can create a multi-national culinary brand that includes multiple food categories. The journey ahead is going to be a giant leap for us, full of endless possibilities and definitely exhilarating!”

Kotak Investment Banking and Khaitan & Co have been TCPL’s exclusive financial and legal advisors on Capital Foods' acquisition transaction, respectively.

About Organic India, it is a 25+ years established brand with a geographical footprint covering over 48 countries, substantially from India and the USA. Its product portfolio spans premium and high growth categories focused on sustainable living - Herbal Supplements, Tea & Infusions and Organic Packaged Foods.

Founded in 1997 by couple Bharat Mitra and Bhavani Lev, Organic India has strong, long standing relationships with 12,000+ farmers and unparalleled end to end organic certifications across the supply chain. It pioneered commercial cultivation of tulsi and introduced high value medicinal crops for farming in India. It has a portfolio of over 100 products in the Health & Wellness space.

The Total Addressable Market for the categories that Organic India at present is ₹ 7,000 crores in India and ₹ 75,000 crores in international markets where Tata Consumer has a strong presence. This acquisition will provide significant synergy benefits in distribution, logistics and overheads apart from driving portfolio premiumization and unlocking additional channels and new markets. Structural growth drivers for this portfolio include increasing demand for Health & Wellness products, growing consumer awareness around wellness and changing consumer preferences

For Organic India, Kotak Investment Banking, Trilegal and Sidley Austin have been TCPL’s exclusive financial and legal advisors for the transaction respectively.

Mr. William Bissell, Managing Director of Fabindia said, “Tata is India’s most venerated and dynamic brand. For over a hundred and fifty years, it has stood as the visionary exemplar of Indian values: fairness, preservation of civilizational traditions, harmony with the natural world, and social uplift for all. That is why we are immensely excited that they will be guiding Organic India through its next chapter and stewarding the vital mission for which Organic India stands.

We at Fabindia echo Jamsetji Tata’s vision that ‘The community is not just another stakeholder in business but is in fact the very purpose of its existence.’ Organic India works with a community of tens of thousands of farmers who work only with socially and ecologically sustainable methods. We are confident that Organic India will continue to thrive with the Tatas’ leadership.”

Coca-Cola Launches Its Marketplace on ONDC – 'Coke Shop'

American beverage giant Coca-Cola's India unit has announced that it has joined the government-initiated Open Network for Digital Commerce (ONDC), while also launching its own marketplace, the 'Coke Shop', on the platform.

The initial association with ONDC is being supported through SellerApp, which will help the company leverage the ONDC network with its data-driven insights, market intelligence, and strategies.

“Through the ‘Coke Shop’ marketplace model, Coca-Cola is benefitting retailers by enabling them with another channel to sell their products whilst simultaneously facilitating multiple touchpoints for consumers to purchase from. Retailers who have not been able to access major e-commerce platforms will now have an opportunity to regain customers and cater to a wider audience,” the beverage major said in a statement.

The company joins a slew of FMCG companies that have come onboard ONDC. The other FMCG brands that have joined ONDC include Hindustan Unilever, Polycab,Me n Moms, Mama feast, BRBChips, Ustraa, Sublime, Fackelman, Keventer, Brill, Hyderabad Foods, Healthkart, Nourish Mantra, Buy One Gram, Selzer, and Dugar Oversees.

Coca-Cola rival PepsiCo had already joined ONDC in August this year.

Coca-Cola's bottling partner in India, Moon Beverages Limited, will be the ‘Network Participant’ for its offerings on the platform, ensuring consumers have seamless access to its beverage portfolio, said the company in a release.

"We are happy to see Coca-Cola join onto our network on this transformative journey and give consumers an exceptional shopping experience while offering expanded choices for buyers on the network,” said T Koshy, managing director and chief executive officer, ONDC.

Coca Cola India currently has a strong network of close to ~ 4 million retail outlets across the country.

Amid Competition from Smaller QSR Outlets, Domino's Slashed Pizza Prices by 50%

Image ~ Vecteezy

American multinational pizza restaurant chain, Domino's, has made a price-cuts in its large pizzas range, by up to 50%. According to news reports, competition in the pizza segment has increased rapidly due to smaller homegrown outlets like Laziz Pizza, Tosin, Instapizza, Gopizza, Leo's Pizzeria, Mojo Pizza, Ovenstory and La Pinoza.

Customers — working-out to sweat (pun intended) —  can now enjoy their favorite large vegetarian pizzas for just Rs 499, a significant discount from their former price of Rs 799. While, non-vegetarian pizza lovers may now get large pizzas for a tempting price of Rs 549, a substantial reduction from the prior price of Rs 919.

This price cut from Domino's comes at time of ongoing ICC Cricket World Cup.

The price cut by Domino's Pizza is certainly a reflection of the rapidly increasing competition in the FMCG sector wherein local companies are increasingly challenging big brands and companies. These companies have even gone ahead of the big companies in some markets.

Domino's is now working on a strategy to cut prices in the Quick Service Business (QSR) market in India. According to news running in the media, on September 4, Domino's decided to cut the prices large pizzas by sending a message to its customers.

Big multinational brande like Domino's, Burger King, Pizza Hut and KFC had faced a decline in sales due to increasing competition resulting in price cuts by these big brands. Pizza Hut is currently targeting cities with a population of more than 10 lakh. Pizza Hut has reduced the price of its Flavor Fun from Rs 200 to Rs 79. The share of local players in India's pizza market is about 30%.

Homegrown Pizza outlets form 30% of the total pizza outlets in India. A cut-throat competition and a cluttered pizza market made Domino's to witness a 74% decline in Y-o-Y net profit during the first three months of FY24.

Tata Consumer Products Enters Energy Drink Category, Launches ₹10 'Say Never' Energy Drink

Tata Consumer Products (TCP), the consumer products company of the Tata Group, has announced a bold entry into the fast growing "Energy Drink" category with the launch of Say Never Energy Drink.

Say Never Energy Drink, to be available in two variants — Red and Blue, is priced at an affordable price tag of ₹10 for a 200 ml cup format.

In the initial phase of the launch, Say Never Energy Drink will be available at retail outlets in Karnataka and North markets.

No other detailed information is available publicly such as ingredients/composition of the drink, amount of caffeine, and the energy drink's cup's material etc. 

The energy drink from the Tata is likely to directly compete with Red Bull, Rockstar, Pure Zero, Shashan Total Body Fuel Peach-Fizz Energy Drink and Zippfizz. However, these are priced at higher value (ranging from ₹20 to ₹125) compare to Say Never Energy Drink of TCP. Though, quantity in millilitres vary for different brands. 

As per definition by Scottish government, Energy drinks are beverages that contain high levels of caffeine in combination with other ingredients such as sugar and stimulant properties such as guarana, taurine or herbal substances.

Speaking about the new launch, Mr. Vikram Grover, MD NourishCo Beverages Limited, Tata Consumer Products said, “With this launch we aim to inspire and energize the doers, the dreamers, and the go-getters of the world. Say Never Energy Drink is not just a beverage; it's a symbol of empowerment, a companion for those who dare to be different. The launch strengthens & complements the overall product portfolio for NourishCo and through this we are celebrating the heroes who carve their own paths. This affordable caffeine-based energy drink is for the young masses and with this we are here to fuel their journey."

Earlier in June, Gurgaon-based NourishCo, which is a Tata Consumer Products Limited (TCPL) subsidiary, introduced Tata Coffee Cold Brew as part of its strategy to expand its functional beverages segment.

Tata Consumer Products Limited is a focused consumer products company uniting the principal food and beverage interests of the Tata Group under one umbrella. The Company’s portfolio of products includes tea, coffee, water, RTD, salt, pulses, spices, ready-to-cook and ready-to-eat offerings, breakfast cereals, snacks and mini meals.

Coffee Vending Machine Prices: Factors to Consider Before Making A Purchase Decision

In today's world, where people live on the go, coffee vending machines have become common in offices, hotels and public spaces, satisfying the constantly increasing desire for a convenient caffeine boost. Choosing the ideal machine for your office can be daunting due to the increasing options and factors influencing the vending machine's overall cost. Price being at the centre of it all, you need to purchase a coffee machine that will maintain your budget and is also suited for the purpose.

While the initial coffee vending machine price usually matters most, other financial aspects of the purchase will significantly impact the machine's value and its long-term cost-effectiveness. By evaluating these price factors, you can find the perfect machine for your workforce while also making a wise investment for your bottom line.

Initial Cost of the Machine

When thinking about buying a coffee vending machine, the initial cost usually comes to mind. The initial coffee machine price can vary significantly depending on the machine's features, size, brand, capacity and overall quality. High-end coffee vending machines with advanced features and larger capacities tend to have higher price tags.

Before finalising your purchase decision, it is essential to consider your workforce's specific coffee needs. It is best to compare prices across different dealers, manufacturers, and suppliers to find the best price accommodation for affordability and functionality. While on the lookout, please remember that a lower-priced coffee vending machine for the office may be tempting to purchase. Ensure it meets your operational and quality requirements.

Operation Expenses

When evaluating the coffee vending machine price, it is crucial to consider the operating expenses. These include coffee beans, milk, cups, condiments, lids and other necessary supplies. Some coffee vending machines require specific proprietary supplies that are more expensive than generic alternatives.

Consider the volume of coffee you anticipate serving, and calculate the ongoing expenses. Additionally, you need to consider any special requirements like water filtration systems, waste disposal and energy use. All these contribute to the operating costs. Evaluating these will help you determine the total cost of ownership over time and make an informed decision.

Maintenance and Service Costs

Coffee vending machines for offices require regular maintenance to ensure optimal performance and longevity. Consider the ongoing costs of filter replacements, repairs and cleaning supplies when evaluating the buying price. Familiarise yourself with the manufacturer's recommendations regarding machine care intervals and procedures.

Taking all recommendations will help you factor in all expenses in the overall budget and evaluate the long-term cost-effectiveness of the machine. Some coffee vending machines may require professional servicing and technical support. These can incur additional expenses.

The Vending Machine's Scalability

To expand your office, you must also expand your coffee vending operations. Consider the machine's scalability as part of the coffee vending machine price. Go for models that are easy to upgrade or integrate into a larger coffee vending machine without incurring significant additional costs.

The scalability of the machine allows you to adapt to the increasing demand of your office coffee needs and avoid the option for a complete overhaul or replacement as your business grows. This factor saves you money in the long run and smoothly transition when expanding your operations.

Warranty and Support from the Manufacturer

When purchasing a coffee vending machine for the office, it's crucial to check for the warranty period offered by the manufacturer. A longer warranty period indicates the manufacturer's confidence in the machine's quality, putting your mind at peace because the manufacturer will cover the repair or replacement costs in case of malfunctions or defects within the warranty period.

Additionally, consider the level of support and maintenance services the manufacturer offers. Some offer extended support, readily available spare parts, or technical support. You can value these for the smooth operation of the machine.

Resale Value of the Machine

While this is never an immediate concern when purchasing a coffee vending machine, it is worth considering the potential resale value of the equipment anyway. Some models or brands hold better value than others in the used vending machine market. Assess the reputation of the coffee vending machine you intend to get and its market demand for used machines.

You get a clear estimate of the potential resale value. This factor is usually relevant only if you anticipate replacing or upgrading your coffee vending machine for the office in the future. Equipment with a good resale value can provide a higher return on investment and help offset the cost of a new machine or an upgrade.

As you search for the perfect coffee vending machine, it is crucial to approach this decision with a comprehensive understanding of all the price factors involved. While the initial cost is crucial, considering the service expenses, operation costs, maintenance, energy efficiency, and many others is equally vital. These will ensure you make the right decision that balances your budget with your desire for a reliable, cost-effective coffee vending experience. Remember, a well-researched purchase will satisfy your workspace coffee needs and leave you with financial peace of mind.