Curefoods Acquires 5 Food Brands; Aims To House Multiple Brands & Build Strong D2C Platform

* Curefoods aims to expand to 20 cities encompassing 200 outlets in 2022

* Curefoods will provide scaling, capital, and technological assistance to acquired brands along with branding and marketing strategies

Curefoods, one of India’s largest cloud kitchen companies operating brands like EatFit, announced the acquisition of five D2C food brands going into the new year. With a view to become a powerhouse of the best food brands in the country, Curefoods will be doubling down on scaling and amplifying its footprint significantly in 2022 to become one of the largest players in this segment.

With the five food brands now on board, Curefoods has more than 20 brands in its portfolio and is looking to house a total of 25 brands by mid-2022, notably strengthening its D2C offering. The company is on an ambitious road to expand its presence in the coming year and obtain a geographical spread across 20 cities with 200 locations.

Curefoods’ scale expertise and technological know-how in the food business will help the acquired brands create better efficiency and output around a common tech and analytics platform. Under Curefoods’ purview, these brands will also see greater expansion - within their base city or to newer cities - and capital infusion as and when required to grow business.

Curefoods will also be supporting them with branding and marketing strategies that will in turn positively impact revenue.

The newly acquired brands include the following –

Juno’s Pizza - a deeply loved legacy pizza brand based out of Mumbai.

In a 100% acquisition by Curefoods, this brand will now see greater scale and expansion in western India.

Cupcake Noggins - a Bengaluru-based cupcake brand and a leading player in this category. Curefoods will be merging this popular bakery into its CakeZone operations and is eyeing expansion across Bengaluru within the next six months.

Organic ice cream brand, Iceberg is one of the fastest growing brands in this segment currently serving 25 flavours across Bengaluru and part of Andhra Pradesh. Under Curefoods, it will witness pan-India growth with expansion to 15+ cities.

Delhi-based Nomad Pizzas is one of the fastest growing pizza delivery startups serving gourmet pizzas from around the world. Curefoods aims to take this highly rated pizza offering to multiple outlets in Delhi and other parts of the country.

White Kitchens - a one-of-its-kind multi-brand cloud kitchen company based in Jaipur. Currently it serves three to four unique cuisines. The acquisition of White Kitchens will be instrumental to Curefoods’ Tier 2 expansion strategy.

In October last year, Curefoods had announced acquisitions of seven food brands, featuring the likes of ChaatStreet, Parathabox, and CakeZone. Alongside these acquisitions, Curefoods had also signed exclusive online rights for Aligarh House, Yumlane, and Sharief Bhai. These partnerships have been instrumental in growing Curefoods’ footprint across 10 cities and triggering revenue growth of 50% quarter-on-quarter. To continue treading along the successful model, Curefoods will be looking to onboard 5-7 more such brands in the coming quarters which will bring greater value to its D2C portfolio and the food ecosystem at large.

Commenting on the acquisitions, Ankit Nagori, founder at Curefoods, said: “We are excited to kickstart 2022 with five new brands on board making us a powerhouse of 20 odd leading food brands. India’s online food delivery marketing is estimated to touch ~$8 Bn this year and we are eager to play a huge role in shaping this segment. To cater to multiple eating occasions, cuisines, flavour profiles and regional nuances, we are bringing on a plethora of such companies - each a strong contender in its space with great products to offer. Our goal is to equip them further with our tech and business expertise to enable them to continue serving up some great dishes for customers.”

Gokul Kandhi, Business Head, Curefoods, said, “We are seeing great results from the brands we have already acquired and predict a $100 Million ARR for the coming year. With more brands on board and few more in the pipeline, we are well on our way to become a leading contributor to India’s fast-growing cloud kitchen ecosystem. We look forward to working with our partners and building a great platform that serves India exactly what it wishes to consume across diverse geographies and markets.”

About Curefoods:

Curefoods is a leading cloud kitchens operator in India. It commenced its operations in 2020. It operates brands like EatFit, Yumlane, Aligarh House Biryani & CakeZone. It has over 75 kitchens across ten cities in India.

Additional information on Curefoods is available at https://curefoods.in

BMW Group India achieves highest growth in a decade. Delivers 8,876 cars (BMW + MINI) and 5,191 motorcycles in 2021

* BMW India Posts Highest Growth In A Decade Of 35% With 8,236 Units

* MINI India records impressive growth of 25% with 640 units.

* BMW Motorrad India raises the bar with highest annual sales of 5,191 units.

BMW Group India has achieved the highest growth in a decade by delivering 8,876 cars (BMW and MINI) and 5,191 motorcycles in 2020. BMW India registered sales of 8,236 units and MINI India of 640 units. BMW Motorrad sold 5,191 motorcycles.

Mr. Vikram Pawah, President, BMW Group India said, “BMW Group India has remained strong and resilient with all its three brands – BMW, MINI and BMW Motorrad - posting stellar growth. Greater flexibility and farsighted planning in business processes ensured that we overcame unpredictable market situations and increased our market share. An attractive product portfolio especially designed keeping in mind the requirements of Indian customers and an unwavering emphasis on customer service has significantly propelled brand loyalty and drawn many new customers into our fold.”

BMW India achieved over 35% growth as compared to 2020 - the highest in a decade. BMW India saw significant contribution of over 40% coming from the locally produced Sports Activity Vehicle (SAV) range including the BMW X1, the BMW X3 and the BMW X5. The new models such as the BMW M 340i xDrive, BMW X7 and BMW 3 Series Gran Limousine which were in excessive demand were either completely sold out or had long waiting period of several months. Exclusive editions launched specially for Indian customers in the festive season also received a tremendous response. The BMW 3 Series and the BMW 5 Series continued their traditional role as strong contributors in sedan segment.

MINI India successfully maintained its position as the most popular car in the premium compact segment with the exciting all new MINI range. The brand posted exceptional performance and annual growth of 25% as compared to 2020. The locally produced MINI Countryman commanded a share of over 50% in sales. The iconic MINI Hatch and the popular MINI Convertible contributed 18% each.

BMW Motorrad India recorded a spectacular year with highest ever sales by a premium motorcycle manufacturer. As compared to 2020, BMW Motorrad posted growth of 102.5%. The BMW G 310 R and BMW G 310 GS together commanded a share of over 90% in sales. Other models popular among the Indian motorcycling enthusiasts were BMW S 1000 RR, BMW R 1250 GS / GSA, BMW F 900 R / XR and the BMW R 18. The BMW C 400 GT scooter launched in the last quarter was also in great demand.

BMW Financial Services India played an instrumental role in facilitating sales performance under challenging market conditions. The customised and flexible financial solutions were significantly valuable to premium clientele of BMW, MINI and BMW Motorrad.

Shopping On Social Media Platforms Expected To Reach $1.2 Trillion Globally By 2025:: New Accenture Study

* Growth is predicted to be driven primarily by Gen Z and Millennial social media users 

A new study by Accenture (NYSE:ACN) found that the $492 billion global social commerce industry is expected to grow three times as fast as traditional ecommerce to $1.2 trillion by 2025. Growth is predicted to be driven primarily by Gen Z and Millennial social media users, accounting for 62% of global social commerce spend by 2025.  

According to Accenture’s report, “Why Shopping’s Set for a Social Revolution,” social commerce means a person’s entire shopping experience — from product discovery to the check-out process — takes place on a social media platform. Just under two thirds (64%) of social media users surveyed said they made a social commerce purchase in the last year, which Accenture estimates to reflect nearly 2 billion social buyers globally. 

“Driven by mobile-first consumer preferences and the launch of new hyperlocal social commerce platforms, the emerging success of social commerce in India is a testimony to the power of people and communities,” said Anurag Gupta, Managing Director and Lead - Strategy & Consulting, Accenture in India. “To take advantage of this growing opportunity, it will be crucial that these social commerce platforms offer consumers the right experience built around trust and satisfaction, and broaden their appeal through the use of local languages and video interfaces. Furthermore, brands need to work with a thriving ecosystem comprising platforms, creators, influencers, resellers that helps users discover and evaluate potential purchases.”

Accenture’s report “Why Shopping’s Set for a Social Revolution” estimates social commerce will account for 17% of all ecommerce spend by 2025 

While the opportunity is significant for large businesses, individuals and smaller brands also stand to benefit. More than half (59%) of social buyers surveyed said they are more likely to support small and medium-sized businesses through social commerce than when shopping through ecommerce websites, Furthermore, 63% said they are more likely to buy from the same seller again, showing the benefits of social commerce in building loyalty and driving repeat purchases.

Accenture’s report “Why Shopping’s Set for a Social Revolution” estimates Millennials alone will account for nearly $401B (1/3) of social commerce spend by 2025 

Half of social media users surveyed, however, indicate they are concerned that social commerce purchases will not be protected or refunded properly, making trust the biggest barrier to adoption, as it was for eCommerce at its beginning.

Who is Buying What

Accenture’s report found that by 2025 the highest number of social commerce purchases globally are expected in clothing (18% of all social commerce by 2025), consumer electronics (13%) and home décor (7%). Fresh food and snack items also represent a large product category (13%) although sales are nearly exclusive to China. Beauty and personal care, although smaller in terms of total social commerce sales, is predicted to quickly gain ground on e-commerce and capture over 40% of digital spend on average for this category in key markets by 2025.

Among the study’s other findings: 

Consumers in developing countries are more likely to use social commerce and do so often. Eight out of ten social media users in China use social commerce to make purchases for a given category, while the majority of social media users in the U.K. and U.S. have yet to make a purchase via social commerce.

Shoppers in China, India, and Brazil care more about features that help them discover and evaluate potential purchases while those in the U.K. and U.S. place more importance on pricing and discounts. 

Trust is more important to older generations than younger generations. Older shoppers emphasize security features and value brand familiarity while younger generations are attracted to livestreams and put more faith in buyer reviews. 

Research methodology 

Accenture Research conducted a series of studies on social commerce to better understand the nature of this opportunity. We designed and fielded an online survey of 10,053 social media users in China, India, Brazil, the U.S. and the U.K.  The online study was conducted August 12th – September 3rd 2021. We also conducted in-depth interviews with shoppers and sellers from those same five markets between May 26th and June 2nd 2021.  

Accenture’s social commerce market forecasts were produced using econometric modelling, considering the optimization of consumers’ preferences to accelerating existing market momentum. The social commerce market includes products or services ordered via social networks, regardless of the method of payment or fulfilment, covering business to consumer (B2C) and consumer to consumer (C2C) transactions. 

About Accenture

Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services — all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 674,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at accenture.com.

Accenture’s Software and Platforms industry helps software and platform companies innovate to?stay ahead of disruption. To learn more, visit?https://www.accenture.com/us-en/industries/software-and-platforms-index.? 

Accenture’s Consumer Goods & Services industry group helps businesses innovate and grow?—?from enabling front-office transformation to building intelligent enterprises underpinned by technology and analytics?— to help them achieve consumer relevance.?To learn more, visit?https://www.accenture.com/us-en/industries/consumer-goods-and-services-index. 

CMS IT Services’ Releases CXO Guide Focussing On The Retail Sector

* The latest chapter dissects technologies that will redefine retail in the coming years

* Technologies discussed include ERP, Customer Data Integration, AR/VR and SSTs

CMS IT Services, a Bangalore based Leading Managed Services company has released their CXO Guide on the retail sector. The retail sector is postulated to be a blend of the virtual and the real in the next decade. Augmented by a host of digital tech the world of retail will create personalized shopping experiences driven by AI, data, omnichannel assistance etc. Self Service Technologies (SSTs), Unmanned Aerial Vehicles (UAVs), Gamification Tools, Beacon and Haptic technologies as well as a host of other top-tier tech backed by AI/ML, IoT, predictive analytics etc. will reinvent retail and tailor it to suit the ever-evolving needs of the public.

The guide also draws attention to direct to consumer (D2C) models and technologies that will impact the industry in 2022. These include

Point-of-Sale Integration via SaaS Cloud-based ERP Solutions 

AI/ML-driven big data and Vertical SaaS insights

Virtual Trial Rooms, Smart Mirrors, Interactive Interfaces, 3D feature-analysis etc leveraging AR/VR technology

IoT networks will reduce human interactions in ‘Just Walk Out Stores’ that will auto-collect payments.

Conversational AI, NLP, Augmented and Virtual Realities can create virtual or robotic ‘salespeople’

Hyper Automation, Customer data tracking and secured payment portals

According to Anuj Vaid, Executive Director, CMS IT Services and author of the guide, “Moving forward, advancements in multiple emerging technologies will converge to create unprecedented value. It’s up to us to anticipate and make the right strategic technology choices. The retail sector is no different. Ecommerce has forever altered the customer’s perception of retail. Leaning on tech to elevate customer-experience is the sure-fire way to keep them interested”

This is the latest edition and earlier CXO guide which was released were focused on Manufacturing, Edtech, Government and Finance sector. 

The latest chapter on retail eBook authored by Anuj Vaid, Executive Director, CMS IT Services can be downloaded here https://bit.ly/3Fo2TTt

L&T Construction Awarded (Significant*) Contract For Its Heavy Civil Infrastructure Business

The Heavy Civil Infrastructure business of L&T construction has won a prestigious order from Delhi Metro Rail Corporation Limited (DMRC), for the design and construction of the Underground Metro Project of Phase-1 of Patna MRTS.

The major scope of work for the project comprises design & construction of Twin Tunnel by Shield TBM of approximately 6 Km, Tunnel by Cut & Cover, an Underground (UG) Ramp at Rajendra Nagar and six UG Metro Stations viz, Rajendra Nagar, Moin Ul Haq Stadium, University, PMCH, Gandhi Maidan and Akashvani along with other associated structures including Architectural Finishing, Water Supply, Sanitary Installation and Drainage Works on the new ISBT to Patna Station of Corridor-2 of Phase-1 of Patna MRTS. The project alignment passes through the heart of Patna City and is scheduled to be completed within 42 months.

The project is being funded by Patna Metro Rail Corporation (PMRC) and, upon completion, will be operated by PMRC.

L&T is proud to be associated with this first UG metro rail project of Phase-1 of Patna. Over the years, L&T has significantly enhanced its capability to build faster, and reliable mass transit systems and this project is in line with its strategic goals.

Background:

Larsen & Toubro is an Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing and Services. It operates in over 50 countries worldwide. A strong, customer–focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business for eight decades.

Infogain Appoints Dayapatra Nevatia As The New President And Chief Operating Officer

* Experience leading over 100,000 global team members; will drive Infogain vision and growth

Infogain, a Silicon Valley-based global leader in human-centered digital platform engineering services, has appointed Dayapatra Nevatia as President and Chief Operating Officer, responsible for global operations. Reporting to CEO Ayan Mukerji, he will support and execute Infogain’s strategy of combining cloud, experience, and AI to build innovative human-centered digital solutions for our customers.

Nevatia is a well-respected IT industry veteran with close to three decades of experience in client value creation and delivery, incubating new business verticals, managing large P&Ls, and leading culturally diverse global organizations with more than 100,000 global team members. In his most recent role as Mindtree’s Executive Director and Chief Operating Officer, he was responsible for designing, planning, and implementing business strategies and operating plans that align with the company’s vision and long-term goals. 

Prior to Mindtree, Nevatia served in senior leadership roles at Accenture for many years. As Managing Director and Director of Delivery for Advanced Technology Centres in India for Accenture, he was part of their Indian executive leadership team, delivering programs in system integration, application outsourcing, infrastructure, digital, and security services across different industry groups.

Infogain CEO Ayan Mukerji, said, “Dayapatra brings deep knowledge of managing growth and scale with a solid understanding of technology. Infogain will benefit from this expertise. His addition to our executive leadership team will also add a new perspective and enhance our ability to solve complex business challenges facing our customers today.”

Mukerji continued, “I’d also like to thank Eddie Chandhok for his 18 years of outstanding performance nurturing our organization’s growth. Eddie will stay on with the company and continue to drive Infogain’s M&A function, which is increasingly becoming more strategic as we continue to bring on new talent and integrate new global delivery locations.”

Dayapatra added, “I am excited to be joining a rapidly growing digital engineering company like Infogain, with futuristic leaders who are all-in, building platforms that drive our customers' business.”

Shashank Singh, Partner at Apax, which advises funds that are majority owners of Infogain, said, “Dayapatra’s impressive background and experience working with CEOs, CDOs and CTOs of Fortune 100 companies make him a great fit for taking Infogain’s delivery and operations to the next level.”

Rohan Haldea, Partner at Apax, added “This is another exciting step in Infogain’s growth journey and will drive performance excellence in the global team.”

Dayapatra has a bachelor’s degree in Electronics Engineering from IET, Lucknow and a master’s degree in General Management from IISc, Bangalore.

About Infogain

Infogain is a human-centered digital platform engineering company based out of Silicon Valley. We engineer business outcomes for Fortune 500 companies and digital natives in the technology, healthcare, insurance, travel, telecom, and retail/CPG industries. We accelerate experience-led transformation in the delivery of digital platforms using technologies such as cloud, microservices, automation, IoT, and artificial intelligence. Infogain is a multi-cloud expert across hyperscale cloud providers – Microsoft Azure, Google Cloud Platform and Amazon Web Services.

Infogain, an Apax Funds portfolio company, has offices in California, Washington, Texas, the UK, the UAE, and Singapore, with delivery centers in Seattle, Houston, Austin, Kraków, Noida, Bengaluru, Pune, Gurgaon, and Mumbai. To learn more, visit www.infogain.com .

Bank Of Baroda Felicitates Kashmir To Kanyakumari "Atmanirbhar Bharat Run" Ultra-Marathoner Kumar Ajwani

Bank of Baroda felicitated ultra- marathoner and Founder-Director of FAB Foundation Shri. Kumar Ajwani for continuing his 4,444 kms Atmanirbhar Bharat Run from Kashmir to Kanyakumari (K2K) which will be completed over 77 days.  

Ajwani, a 61yrs old senior citizen is running K2K Run for two major causes, i.e., for supporting the rehabilitation of differently abled soldiers through QMTI (Queen Mary’s Technical Institute) and upgrading tribal schools in Maharashtra through team FAB Foundation. Bank of Baroda supports this noble cause and is proud to be associated with this run. 

Speaking on the occasion, Shri Manish Kaura, General Manager, Bank of Baroda, Pune Zone said, “We appreciate the efforts of Shri Kumar Ajwani and his team and are honoured to be associated with this run which is in line with Bank’s motto of serving the saviours of our Nation – “Shourya Ka Samman-Bank of Baroda ki Shaan”. 

The felicitation event was conducted in the presence of Brigadier D G Patwardhan, Station Commander, Kirkee; Col. Rahul Bali (Retd.), CEO, QMTI- Pune and Shri Vikash Kumar, Regional Head, Bank of Baroda, Pune City Region. 

Thanking Bank of Baroda, Shri. Kumar Ajwani said, “Atmanirbhar Bharat Run is a run planned by Team FAB Foundation for creating awareness and raising funds for differently abled soldiers and enhancing the quality of education for tribal children. I am thankful to Bank of Baroda for its sponsorship and I also encourage the soldiers to opt for Bank of Baroda Defence Salary Packages.” 

Bank of Baroda has created Defence Banking Vertical and has appointed Defence Banking Advisors at various centres. Brig. (Dr) Sanjeev Devasthali is the Defence Banking Advisor at Pune.  

About Bank of Baroda:  

Founded on 20th July, 1908 by Sir Maharaja Sayajirao Gaekwad III, Bank of Baroda is one of the leading commercial Bank in India. At 63.97% stake it’s majorly owned by Govt of India. Bank serves its global customer base of over 140 Mn through over 46,000 touchpoints spread across 19 countries in 5 continent. Through Its state of the art digital banking platforms it provides all the banking products and services in a seamless and hassle-free way. Recently launched bob World mobile app provides customers with saving, investing, borrowing and shopping experience, all under one single app. The app also serves non customers by enabling account opening through video KYC. Bringing about a vision that matches the diverse clientele base and to instill a sense of the trust and security has been the paramount factor for Bank of Baroda. Its moving well in that direction and bob World has been a testimony for its roadmap towards Digital Transformation. 

Photo Caption: Shri Vikash Kumar, Regional Head, Bank of Baroda, Pune City Region; Col Vasant Ballewar (Retd), Dean & Deputy CEO; Brig. (Dr) Sanjeev Devasthali (Retd), Defence Banking Advisor, Bank of Baroda; Col Rahul Bali (Retd), CEO, QMTI; Shri Kumar Ajwani, Director FAB Foundation; Shri Parwinder Singh, Fellow Runner; Brig. D G Patwardhan,  Station Commander, Kirkee Military Station (Commandant, BEG Centre), Shri Manish Kaura, General Manager, Bank of Baroda.