Snapshots of Food Industry News
Japan’s CoCo Ichibanya to Foray into Indian market
Japan’s largest curry rice chain, CoCo Ichibanya, is entering the Indian market and expects to open its first restaurant early next year in Delhi-NCR. Mitsui and Co haveformed a 60:40 joint ventureIchibanya India with Japan-based Ichibanya, which owns curry chain Coco Ichi. The partnership marks the entry of Mitsui, which is one of the largest and prominent global trading and investment companies of Japan, into the restaurant business in India. Mitsui and Co has been present in India since 1950, and has investments in sectors like steel, power infrastructure, chemicals, logistics, motorcycles, healthcare, pharmaceuticals, FMCG and television shopping.
CoCo Ichi feels that this is the right time to enter India as the middle class is growing and the country is one of the world’s largest food and beverage markets. The Joint Venture will see a combined investment of about Rs 20 crore in the Indian market to establish its network here. The JV would directly own and operate outlets, and also has plans to franchise the CoCo Ichi brand throughout India.
Future Group Launch New Dairy Brand Dreamery with Fonterra
Future Consumer, a part of the Kishore Biyani-led Future Group, and the New Zealand-based dairy major Fonterra have inked an equal joint venture Fonterra Future Dairy which will launch a new dairy brand Dreamery. They are expecting a revenue of Rs 6,000 crore and will aim to become one of top four players in this market in the next four to five years.
Dreamery will be launched in the western states initially and eventually be rolled out in other states over the next 24 months. The portfolio will initially include toned milk, milkshakes and curd and thereafter there will a launch of a new product every quarter.
Future Consumer has noted that there is an unmet demand for dairy products and so the joint venture is being seen as valuable long-term asset especially as they intend d to create niche products which will differ from others in the market. Fonterra Future Dairy would therefore, be focusing more on the value-added segment that is expected to grow 50 percent faster than the dairy sector and so is milk intake which is expected to rise 42 percent from 196 billion litres now to 278 billion litres over the next seven years.
The Brew Kitchen Eyes Pan India Expansion
Hyderabad-based The Brew Kitchen has plans for pan India expansion through the franchise model. It intends to launch outlets in Delhi, Haryana, Punjab, Uttaranchal, Uttar Pradesh, Rajasthan and Chhattisgarh.Moving forward, the brand is also aiming to expand in international markets.The Brew Kitchen,serves a combination of two popular global cuisines – Lebanese and continental along with premium blended coffee and beverages.
The Brew Kitchen wants to reach out only to the right kind of potential investors because some people are just exploring and others who are really serious. To get the right people is the major challenge to the expansion they feel. However, they are open to any idea with about 300 square feet in any commercial place.
Grofers Launches Packaged G-Fresh Milk
Grofers, India’s largest online grocery space, has entered the milk business with the launch of its milk brand- G-Fresh Milk. The launch also marks Gofers’ entry into FFRC, which has been set up by FSSAI to fight micronutrient deficiency in India by making fortified milk accessible to millions of its consumers. The new G-Fresh Milk is fortified with Vitamin A and Vitamin D as per the standards laid out by FFRC.G-Fresh Milk is an excellent combination of nutrients, taste, thickness and purity sourced from Schreiber Dynamix, the leading dairy manufacturer. It will be available in two variants: Toned and Double Toned.
Grofers has stated that this is a significant step towards delivering substantial value to their consumers through fortified Milk, which is an important part of the daily nutrition. The milk category is growing exponentially in India. G-Fresh milk will have a pricing which would be around 12% lower than the competition. Gofers feel that their extensive reach across India along with the strategic pricing will lead to increased awareness and improved affordability and acceptance of fortified products. G-Fresh Milk will first be available in Delhi NCR, Mumbai, Pune, Hyderabad, Bengaluru and Chennai before further expansion into other cities across India.
Gobble Me Good Brings Indonesian Coffee Brand to India
Gobble Me Good, the dynamic food and beverage franchise management company has brought Wake Cup Coffee & Eatery to India with the launch of their first ever outlet in India.
The outlet is located at High Street Phoenix, Lower Parel, Mumbai. This is Wake Cup’s first foray into the international market, following its success in Indonesia. What makes the Wake Cup outlet unique is its elegant and modern interiors adorned with microgreens grown through hydroponics. These can be used to enhance the flavours of the food, to suit to individual customer preferences.
Keeping in mind the lifestyle choices of consumers the café has paid special attention to vegetarian and vegan options and have selected a pocket-friendly menu. The spotlight will of course remain on the edible goldand silverdusted coffees called the Gold Digger and Silver Spoon, in the eclectic line-up of authentic Indonesian coffees and other beverages like Ice Pandan Coffee, Ice Cendol Coffee and Ice Robusta Coffee. It also features non-coffee lattes like Blackforest Latte, Taro Latte and Matcha Latte. Side dishes with an Indian touch include as Veg Makhani sandwiches and Soya Kebabs.
Nepal’s CG Group Plans Major Expansion in India
Nepal’s billionaire multi-national group CG Corp Global is all set to launch a mega food park in Rajasthan’s Ajmer. CG Corp Global will launch the food park in September although the
soft launch for the project has already been undertaken by Food Processing Minister Harsimrat Kaur Badal sometime back. The mega food park will becomefully operational in September.The project will have a chain of cold storages and processing units and will benefit thousands of farmers and provide employment to many in Ajmer and surrounding areas.The food park, spread over 100 acres, involves an investment of Rs 150 crore.
The CG Group have other plans to expand significantly in India without shifting their headquarters from Nepal. The group has 112 companies and 76 brands and is into FMCG, electronics, education, cement, energy, hospitality, realty development, financial services, telecom, Ayurveda, biotech, and engineering and construction sectors in 80 countries across the globe. The company already has a huge presence in India with 66 hotels under the brand name Fern spread across almost every city of India, in joint venture with the Taj.