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ITC Foods targets growth in north and west India amid shift to branded products

Livemint

Livemint · 7m ago

ITC Foods targets growth in north and west India amid shift to branded products

ITC Ltd, a Kolkata-based FMCG company, plans to focus on scaling its existing food brands and targeting the premium segment in India. The company aims to tap into the growing demand for branded food products in regions like Bihar, Uttar Pradesh, and Rajasthan where a significant portion of the population is entering the consuming class. ITC also expressed openness to acquisitions to strengthen its brand portfolio. The company reported a 9.6% increase in FMCG revenues in FY24 and aims to introduce 60-70 new food products annually. Premiumization and creating value propositions for high-end consumers are also part of ITC's growth strategy.

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FMCG companies roll out the red carpet for kiranas amid quick commerce boom

Economic Times

Economic Times · 1m ago

FMCG companies roll out the red carpet for kiranas amid quick commerce boom

Leading FMCG companies like ITC, Nestle, Coca-Cola, Tata Consumer, Dabur, and Parle are enhancing relationships with kirana stores amid quick commerce growth. They are offering premium products, higher margins, and improved trade support. This shift follows a previous focus on quick commerce channels due to market slowdowns. Companies are investing in tools and platforms to facilitate better trade operations, highlighting the significance of general trade, which still accounts for over 90% of grocery sales in India.

Optimal time to open, grow hospitality brands in India: ITC Hotels MD

Economic Times

Economic Times · 5d ago

Optimal time to open, grow hospitality brands in India: ITC Hotels MD

Anil Chadha, MD of ITC Hotels, describes the current period as optimal for expanding hospitality brands in India due to strong investor interest and changing customer needs. As ITC Hotels embarks on expanding its footprint domestically and overseas, Chadha noted the company's improved operational metrics, including occupancy rates. The demerger of ITC's hotel business has also facilitated exploring new ventures, including branded residences. ITC Hotels maintains a strong balance sheet, supporting both organic and inorganic growth.

Indian biscuits, shampoos & poha go global: FMCG exports outpace domestic sales for HUL, Dabur and others

Economic Times

Economic Times · 1m ago

Indian biscuits, shampoos & poha go global: FMCG exports outpace domestic sales for HUL, Dabur and others

Indian consumer goods such as biscuits, shampoos, and poha are increasingly entering global markets, with major FMCG companies like HUL, Dabur, and ITC experiencing higher export growth compared to domestic sales. HUL reported notable export growth, driven by products in skincare, nutrition, and personal wash. The demand is fueled by the popularity of Indian cuisine and government initiatives like the PLI scheme, enhancing the global presence of Indian-branded products, and exports are set to rise significantly.

Dairy products exporter Ace International taps impact investors for equity funding

VCCircle

VCCircle · 5m ago

Dairy products exporter Ace International taps impact investors for equity funding

Ace International Ltd, a North India-based dairy products exporter, is seeking equity funding from impact investors to enhance its production and procurement capabilities. The company is part of a family-owned group headquartered in Delhi, which also includes Mahaan Foods Ltd listed in Mumbai and a privately held subsidiary. This move aims to support the company’s growth and expansion efforts in the dairy sector.

How Rebel Foods’ hunger for growth may leave external brands starving

VCCircle

VCCircle · 11m ago

How Rebel Foods’ hunger for growth may leave external brands starving

Rebel Foods, India's largest cloud kitchen operator, is prioritizing the growth of its own brands instead of investing in external brands it previously supported. The company aims to accelerate growth and reduce losses by focusing on its in-house brands. This shift in strategy comes as Rebel Foods seeks to solidify its position as a leader in the cloud kitchen industry in India.

Grapevine: ITC, Orkla, Gland Pharma, and Warburg Pincus in news

VCCircle

VCCircle · 5m ago

Grapevine: ITC, Orkla, Gland Pharma, and Warburg Pincus in news

Diversified conglomerate ITC Ltd is reportedly in early negotiations with Norway’s Orkla ASA to acquire its Indian businesses, MTR Foods and Eastern Condiments, for approximately $1.4 billion. This potential acquisition signifies a change in Orkla’s initial plan to publicly list its Indian operations. These developments reflect strategic moves within the food and condiments sector, potentially impacting market dynamics and business growth strategies for both ITC and Orkla within the region.

Canadian pension fund OTPP trims Asia venture growth team, to focus on India

VCCircle

VCCircle · 1y ago

Canadian pension fund OTPP trims Asia venture growth team, to focus on India

Ontario Teachers' Pension Plan (OTPP) has laid off four dealmakers in its Asia venture and growth equity investment team in Hong Kong. The team will now shift its focus to India, with OTPP spokesperson stating that "this decision is related only to our venture growth team in Hong Kong." This move comes amid rising tensions between China and the West, as well as a challenging investment environment in the country due to tougher listing rules and rising global interest rates. OTPP has spent over $22 billion in the Asia Pacific region.

Dairytech Startup Frubon Bags Series A Funding To Grow Retail Footprint Across North India

Inc42 · 1y ago

Dairytech Startup Frubon Bags Series A Funding To Grow Retail Footprint Across North India

Jaipur-based startup Dev Milk Foods, which sells ice cream and dairy products under the brand Frubon, has raised an undisclosed amount in a Series A funding round. The funding was led by Fireside Ventures and Pi Ventures, along with participation from angel investors. Frubon plans to use the funds to expand its retail presence in North Indian cities, enhance production and distribution capabilities, and introduce new product offerings. The company currently operates in 40 cities and towns in North India and sells its products through various retail channels.

MNCs on a stake selling spree in India to generate cash, reduce financial burden

Livemint

Livemint · 1y ago

MNCs on a stake selling spree in India to generate cash, reduce financial burden

Multinational companies (MNCs) are selling stakes in their Indian businesses due to high market valuations. Conagra Brands sold its stake in Agro Tech Foods, British American Tobacco (BAT) plans to sell part of its stake in ITC, and Sumitomo Wiring Systems sold a stake in Samvardhana Motherson International. Other recent transactions include Whirlpool's stake sale in its Indian arm and Fairfax's stake sale in Thomas Cook India. These sales aim to generate funds for debt repayment and to improve balance sheets amid uncertain macroeconomic conditions and high interest rates.

Microsoft says it caught hackers from China, Russia and Iran using its AI tools

Economic Times

Economic Times · 1y ago

Microsoft says it caught hackers from China, Russia and Iran using its AI tools

State-backed hackers from Russia, China, and Iran have been utilizing tools from Microsoft-backed OpenAI to enhance their hacking skills and deceive their targets, according to a report by Microsoft. The report states that hacking groups affiliated with Russian military intelligence, Iran's Revolutionary Guard, and the Chinese and North Korean governments have been using language models to refine their hacking campaigns. As a result, Microsoft has imposed a ban on state-backed hacking groups from using its AI products. Concerns about the misuse of AI technology for cyber espionage have been raised by cybersecurity officials in the West.

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