Tata Global bets on health to drive food and beverages segment growth

INDIA – The Indian coffee and tea major Tata Global Beverages has said that health and wellness will drive its growth in the food and beverage segment, reports ET Retail. This is in line with changing tastes and preferences among consumers, even as they turn to food items that not only offer the desired taste…

Tata Beverages to set up US$14m tea packaging unit in Odisha, India

INDIA - Tata Global Beverages (TGBL), the Indian non-alcoholic beverages company plans to set up a new tea packaging unit worth US$14.01 million in Gopalpur Industrial Park, Odisha, India, reports ET Retail. The company has entered into a letter of Intent (LOI) with Tata Steel Special Economic Zone Ltd, a wholly-owned subsidiary of Tata Steel…

Flipkart CEO Binny Bansal resigns after personal misconduct investigation

INDIA – Walmart owned Flipkart’s Chief Executive Officer (CEO), Binny Bansal has resigned from the company following an investigation into an alleged ‘serious personal misconduct’. According to the US retail giant, Binny has strongly denied the allegation and though the investigation did not find evidence to assert the allegations, it revealed a lack of transparency…

Ferrero India slips into losses as profit in the year 2018 decline 17%

INDIA -  Kinder Joy chocolate maker Ferrero India has posted a 17% decline in profit with a net loss of US$12.26 million during the year ended March 2018. According to Economic Times report, this is the worst performance reported by the Italian manufacturer of branded chocolate and confectionery since it entered the Indian market a…

Consumer goods firm ITC eyes wellness and food segments for growth

INDIA – ITC Limited, the Kolkata based fast moving consumer goods (fmcg) and hotels company is betting on wellness and food segments to drive its financial agenda. According to Managing Director, Sanjiv Puri, the company will continue its focus on the organic route to grow its fmcg business and strengthen its existing mother brands in…

Nestle opens a new milk chilling centre in Sri Lanka to boost supply

INDIA – Nestle has opened a new milk collection centre in Sri Lanka to boost its manufacturing capacity for dairy products in the country. It also strengthens Nestle’s commitment to local sourcing in the region, where it supports approximately 20,000 Sri Lankan dairy farmers. According to the company, the new site is expected to benefit…

Jubilant announces PepsiCo as new beverage partner for Domino’s

INDIA – Jubilant FoodWorks, the Indian restaurant operator has signed an exclusive agreement with PepsiCo as its new beverage partner for Domino’s Pizza, a fast-food chain it operates in India. According to an ET Retail, PepsiCo will supply Domino’s Pizza with its portfolio of carbonated beverages of Pepsi, Mountain Dew, 7Up, Mirinda along with Lipton…

Jubilant begins test-run of Chinese fast food venture, Chinese Kitchen

CHINA – Jubilant FoodWorks, the operator of Domino’s Pizza and Dunkin’ Donuts in India has begun test runs of a Chinese fast food venture, whose working name is said to be said to be Chinese Kitchen. According to ET Retail report which cites two people familiar with the matter, the business is the firm’s first…

United Spirits net profit rises 68% to US$35m in the second quarter

INDIA – India’s leading liquor company United Spirits Limited (USL) has reported a 68.97% increase in net profit to US$35.44 million attributed to improved sales in the second quarter ended September 2018. In the corresponding period July to September last year, the company which claims to be the world’s second-largest spirits company by volume had…

Walmart India to invest US$500m in opening 47 more stores by 2022

INDIA – Walmart India has unveiled plans to invest US$500 million to open another 47 stores by 2022 to take the total number of outlets to 70, according to an ET Retail report. At the same time, the company is also planning to increase the number of fulfilment centres across the country. Krish Iyer, President…