Farzi Cafe, a modern Indian café, plans to expand in North America

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March 2, 2022

Farzi Cafe, Zorawar Kalra’s Massive Restaurant brand, just announced its entry in the United States, with the first outlet set to open in the summer of 2022. Farzi already has a restaurant in North America located in Mississauga, Ontario.

“Our Canada restaurant is doing incredible numbers. It’s one of the busiest restaurants in our system and that gave us a lot of confidence,” Kalra said.

They had already finalized preparations for their US foray and the first location—which Kalra refused to reveal—even before their Canada restaurant debuted.

“With the Canadian outlet open, we’ve gotten more confident that the North American market is hungry for an internationally-acclaimed Indian brand. And that’s why we’re excited about the US and are looking at four restaurants in the first 18 to 24 months. The first one will be open by summer of this year, and the second one will be opening six to eight months after that,” he said.

“Now we’re looking for a talented chef with great innovation, great exposure and a deep understanding of authentic Indian food to come and lead the entire North American expansion,” he added.

Given the difficulty of obtaining visas, Kalra said his company was already in talks with candidates in India and North America.

“In Canada, we opened four months ago, and the phone has been ringing off the hook and we are already in advanced stages of discussion for other units, given the success of our restaurant. We had a meeting with a very large food group, which is not in Indian food, but they love Farzi, and they think there’s a huge potential for the brand in Canada,” he said.

“The American market is also something that we’re now looking at taking more seriously than others, because it’s probably the largest market in the world, and Indian food is woefully underrepresented there, especially from a chain perspective. There are no chain restaurants in our gourmet casual category,” Kalra said, adding, “I believe in the power of Indian food. I believe once it’s exposed to anyone’s palate, they will fall in love with it immediately. And I think that is exactly what is driving us and giving us the confidence, not our work, not the brand power—it is the power of the food itself”.

Farzi came in different shapes and sizes, he said, but they were seeking a minimum of 100 seats with a combination of indoor and outdoor places and premium real estate where lunch business was also good.

Lemon Tree Hotels to open new hotel in Mukteshwar

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March 1, 2022

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Lemon Tree Hotels Limited has announced the opening of its newest hotel, the Lemon Tree Hotel in Mukteshwar, Uttarakhand. In July 2022, this hotel is expected to open. The Alpine Chalet Resort owns the property, managed by Carnation Hotels Private Limited, a Lemon Tree Hotels Ltd subsidiary and management arm.

Mukteshwar is a hill station suburb of Nainital, set amidst breathtaking hills and abundant flora. It gets its name from the 350-year-old Mukteshwar Dham temple dedicated to Lord Shiva. Mukteshwar is also a fantastic trekking destination, with fruit orchards, coniferous forests, lush green walkways, and small alleyways. It is a nature lover’s heaven that draws crowds all year.

The destination is bordered on one side by dense forests and a breathtaking view of the stunning valleys.

This hotel, which will be located in the Nainital district, will have 41 well-appointed rooms and suites and a multi-cuisine restaurant and a bar. There will also be a conference room and a swimming pool, spa, and fitness centre.

Speaking on occasion, Vikramjit Singh, president – Lemon Tree Hotels Limited, commented, “We are delighted to expand our reach in Uttarakhand with our valued partner M/s The Alpine Chalet Resort. This state holds immense business and tourism potential, and is a preferred destination for travellers. With our widespread reach, we feel that this hotel will add value to our customers.”

Homegrown wearable brand boAt forays into Nepal

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March 1, 2022

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boAt, a local consumer electronics company, announced its entry into Nepal on Monday, releasing its best-selling wearable portfolio in the neighboring country.

Imagine Marketing Limited, the business behind boAt, has announced that TeleTalk Pvt Ltd, a subsidiary of Ramesh Corp (a Nepalese firm), will be the national distributor of Imagine’s products in Nepal.

The firm’s partnership would enable the companies to address customers’ shifting expectations by producing high-quality and aspirational lifestyle-focused hearable, and wearable devices in the developing Nepalese market.

“It is an important step for us as we strive to put an Indian brand on the global map,” said Vivek Gambhir, CEO, Imagine Marketing Limited.

Through BoAt Labs, Imagine Marketing Limited has made considerable efforts in building its platforms, including design, product research and development, and technological collaborations.

Dixon Technologies Limited recently formed a joint venture to manufacture and develop Bluetooth-enabled hearables and other electronic products.

“Through our partnership, we aim to provide consumers in Nepal the best quality product at an affordable price,” said Pratik Jalan, Executive Director, TeleTalk Pvt. Ltd.

In 2021, India’s true wireless stereo (TWS) market had a 60% year-on-year increase in shipment numbers, reaching 21 million units.

According to Counterpoint Research, homegrown brand BoAt has taken the top rank for the sixth quarter in a row.

Tech Mahindra entered into metaverse with launch of TechMVerse

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February 28, 2022

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Tech Mahindra Ltd, an IT services company, has entered the metaverse with the launch of TechMVerse, a metaverse practice that will provide consumers with engaging and immersive experiences.

In the first year, the business expects to hire and train about 1,000 workers specifically for the TechMVerse. TechMVerse’s operations would initially be divided across four hubs: Dallas, London, Pune, and Hyderabad.

“With an aim to transform customer experience and deliver real business outcomes, Tech Mahindra will leverage its world-leading network and infrastructure capabilities along with its foundational technological capabilities including pervasive artificial intelligence (AI), blockchain, 5G, augmented reality (AR), virtual reality (VR), and quantum computing to build B2B use cases across sectors,” Tech Mahindra said in a statement.

In the beginning, Tech Mahindra plans to take advantage of the metaverse’s benefits through various use cases, including DealerVerse, a metaverse-based car dealership, Middlemist, an NFT marketplace, Meta Bank, a virtual bank, and a gaming center.

It will provide immersive digital and professional experience services in design, content, non-fungible tokens (NFTs), and blockchain platforms, as well as low-code plug-and-play NFTs and blockchain platforms.

“Metaverse has the power to disrupt our reality, as well as the future, for good. At Tech Mahindra, we have always been at the forefront of 5G and our entry into the metaverse is yet another milestone in our journey of catalyzing future readiness and disrupting and transforming customer experiences. The fundamental layers of metaverse are very well integrated within Tech Mahindra and its competencies,” said C.P. Gurnani, MD & CEO, Tech Mahindra. “We would be training workforce of 1000 engineers to ensure they are ready to solve complex business challenges and imagine new worlds for our customers and society.”

TechMVerse is projected to be a continuation of Tech Mahindra’s NXT.NOW framework aims to improve human-centric experiences by investing in emerging technologies and solutions that enable digital transformation to meet customers’ changing needs.

Start-ups push demand for office spaces

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February 28, 2022

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Following the coronavirus outbreak in March 2020, demand for office space dropped. In addition, the growing tendency of working from home has caused office space occupants, particularly in Grade A facilities, to postpone lease renewals, putting downward pressure on rental rates.

According to a new report by investment management firm Colliers and real estate agency CBRE Matrix, startups are estimated to lease around 29 million square feet between 2022 and 2024, up 1.3 times from 2019-2021. As a result, their share in office leasing is expected to increase from 2% in 2010 to 13% by 2024.

Fintech and logistics startups are regarded as demand drivers for office space in a post-Covid environment, given the growing digital adoption and e-commerce boom. According to the research, Bengaluru, with a 34% leasing share in 2019-21, is the leading startup hub, followed by Delhi-National Capital Region.

Every year, startup leasing in Delhi-NCR increased thrice in 2021. While there has been significant growth in this area in Mumbai, the relatively higher leasing costs are considered as a barrier for enterprises in the early stages of their operations.

Meanwhile, IT firms continue to dominate office leasing, despite shrinking contributions in the most recent quarter. According to property consultancy Knight Frank India’s analysis of the commercial realty sector, the IT industry’s proportion of overall leasing transactions in the second half of the calendar year 2021 (H22021) has decreased to 27% from 41% in the same period the previous year. Nonetheless, with robust demand in the IT sector and several big Indian IT companies already opting for a back-to-work theme, experts predict that demand for office space would gradually recover.

Mahindra to invest ₹3,000 crores in developing electric vehicles

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February 28, 2022

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According to a person familiar with the situation, Mahindra & Mahindra (M&M) is set to invest at least 3,000 crores in developing electric vehicles (EV) over the next three years, with capital expenditure on EVs and internal combustion engine (ICE) vehicles approaching each other.

To establish a strong portfolio of vehicles in India’s EV market, the company also plans to debut its first EV SUV, the XUV 400, in the first half of the following financial year.

“The company plans to invest ₹3,000- ₹5,000 crore as capital expenditure on EVs over the next three years. The ratio of capital expenditure on EVs and ICE vehicles will be 50:50,” said one of the people mentioned above, requesting anonymity.

With its majority stake in homegrown EV maker Reva back in 2010, Mahindra was one of the pioneering Indian automakers in electric vehicles.

In addition, electric versions of the company’s successful ICE vehicles, such as the famous Scorpio, are planned to be introduced.

According to a report by consulting firm RBSA Advisors, India’s EV market, which is still in its inception, is predicted to develop at a compound annual growth rate of 90% this decade, reaching $150 billion by 2030.

Vadilal opens the first dessert café in Ahmedabad

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February 26, 2022

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With the launch of Vadilal Enterprises Ltd’s first café, Ahmedabad residents had reason to rejoice. Now For Ever promotes fusion food, delectable desserts, and a visually appealing atmosphere to cater to millennials and Gen-Z and cultivate their passion for gourmet cuisine. Vadilal Enterprises wants to expand it to significant locations such as New Delhi, Surat, and Jaipur by the end of the year. In addition, Vadilal Enterprises intends to open a ‘Vadilal Now For Ever’ in every major city where it does business.

It serves approximately 60 dishes, all of which are produced with Vadilal products and ingredients, exported to countries such as the United States, Singapore, the United Arab Emirates, Australia, and others. Along with Vadilal’s well-known ice creams, the dessert cafe has added a new menu of fashionable and Instagram-worthy desserts and fusion culinary dishes to its menu. The effort is in line with the company’s aim to offer customers delectable and unique experiences.

“This concept came about from the simplicity that Vadilal Ice Creams embody. his is how we conceptualised Vadilal Now For Ever. We have over 150 flavours available in more than 300 formats. We wanted to use the same products that you get at any Vadilal store but with a never-before-seen twist to give you an unforgettable experience,” said Aakanksha Gandhi, brand director, Vadilal Enterprises Ltd.

Vadilal Group, founded in 1907, has many achievements to its name. It was the first brand in India to obtain a completely automated candy manufacturing line, and it was the first to introduce ice cream dollies, cones, and sundaes. Its Pundhra facility is the country’s largest completely automated plant.

Over four years, it has received more than 27 honors at the Indian Dairy Association’s Great Indian Ice Cream Contest. In addition, the Trust Research Advisory Council and the Brand Equity Survey named it the Most Trusted Ice Cream Brand in 2013. Consumers also chose it as a Superbrand for the years 2019-2020.

Craft Coffee plans to add Craft Coffee Experience Centre

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February 26, 2022

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In March 2021, Craft Coffee opened its first kiosk in Kolkata. Abhinav Kumar and Dipraj Das established the company with the goal of “plan a millennial-centric scalable format on handcrafted coffee and food pairing.” In Kolkata’s Ballygunge neighborhood, they opened a Craft Coffee Experience Centre.

Both the founder and co-founder left their jobs and invested INR 20 lakh in getting things started. Vijay Choudhury, an angel investor, provided additional funding of INR 60 lakh.

“At Craft coffee our pursuit is to continuously innovate towards making a cup of high-quality coffee while also engaging customers in the story of the coffee and hence the concept of the hub and spoke model where we open one or two experience centres in a city based on its potential and have self-service speciality coffee kiosks around them. We continuously strive to bring out the different flavour nodes suited to the palette of millennials—hence products like Coffucha or Coffee Kombucha, Cascara refresher or cranberry lime coffee tonic,” Kumar said about his brand’s ethos.

They spent a lot of time experimenting with coffee and food pairings, matching desserts and savory dishes to the types of coffee offered to customers. He said their baristas were taught as tour guides to engage customers in conversation and share the coffee trip.

“We source our beans from the Nandipura estate situated at an altitude of 2200 feet in the Mudigere area of Karnataka. The region grows some high quality grades of Chandragiri Arabica. The concept is built on the platform of promoting take away / hyper local delivery and home delivery model thereby making specialty coffee easily and affordably available,” he added.

Kolkata, Bhubaneswar, Patna, Bengaluru, Jaipur, and Delhi were among the cities the company planned to reach in phase-1 of its expansion. According to him, each city would have one or two experience centers with a combined area of 5000-7000 square feet and 20-35 kiosks, depending on the coverage radius. Quality coffee, reasonable costs, and simple accessibility were all priorities.

By creating a coffee box subscription service, the company hoped to develop a parallel online and institutional sales presence. Their products would be customized and selected according to consumer preferences.

“The future of the brand lies in integrating modern technology as a service facilitator thereby ensuring scalability and increased penetration through app based ordering and own delivery platform, loyalty program and self-service kiosks as well as mobile order takers. Hence a lot of planned investment will go into product and technology upgradation,” Kumar said.

IndiGo teams up with MakeMyTrip to launch 6E Holidays

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February 25, 2022

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IndiGo, India’s leading airline, has announced the launch of 6E Holidays, a joint venture with MakeMyTrip, which will offer air and land-based bundled holiday packages on its website and mobile app. Passengers on the airline can choose from various travel options, including leisure, pilgrimage, and adventure travel.

IndiGo will provide holiday packages under 6E Holidays by combining its huge airline inventory throughout the network with MakeMyTrip’s vast inventory of hotels and activities. With a well-rounded and comprehensive choice of holiday offerings, the budget airline promises a hassle-free holiday booking experience.

Commenting on the development, Sanjay Kumar, Chief Strategy and Revenue Officer, IndiGo, said, “We are delighted to collaborate with MakeMyTrip for 6E Holidays. This partnership will enable our passengers to seamlessly book flights, hotels, and various activities bundled under one product. At IndiGo, we strive to offer unique experiences and this holiday package offering will enhance the travel experience of our customers. He further added, “With receding covid wave, we expect a strong summer travel season after a gap of two years. These packages will help customers take advantage of best deals for their choice of destinations.”

Speaking about the partnership, Vipul Prakash, COO, MakeMyTrip Limited, said, “This tie-up between leaders in Indian aviation and Indian online travel space only means incredible value for customers who are looking to book their holidays after pandemic-forced time spent indoors. We are going to leverage strong product capabilities and decades of experience that are sure to provide a delightful holiday booking experience for those looking to travel within India and even overseas. We will continue to deliver on our promise to offer incredible value to travellers across the country.”

Samara Capital to invest in businesses, including retail, healthcare, technology, and finance

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February 25, 2022

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Samara Capital, a private equity firm based in India and a local partner of Amazon.com Inc., is looking to raise up to $500 million for a new fund focused on companies in Asia’s third-largest economy.

In an interview, Samara’s founder and managing director, Sumeet Narang, said the company aims to invest in businesses ranging from retail and health care to technology and finance and that the fund will close in the second half of 2022.

“We have started the roadshows and many of our existing investors across the U.S., Europe, Middle East and Asia Pacific have already signed up,” Narang said.

Samara is looking to increase its investment in a consumer market with over a billion people. Last year, nearly 120 companies, ranging from online grocers to food delivery and cosmetics startups, collected $18 billion in initial public offerings, a recent record for the country.

According to its website, the firm was founded in 2007 and has invested more than $1 billion. According to Narang, the new fund will consider investing $50 million to $400 million in mid-market companies for a controlling stake.

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