Snapshots of Food Industry News
Amul registers a growth of 18% for fiscal 2016-2017
Amul has reported a turnover of Rs. 27,085 crores with an increase of 18 percent for the 2016-17 fiscal. Amul said that the increase has been an across the board sale increase and in all product categories. Pouch milk has the highest turnover with growth volumes in double digits. Other products showing a double-digit growth are butter, ghee, ice-cream, UHT milk, flavored milk, paneer and fresh cream.
Demonetisation did not affect the sales of Amul in any way. The Gujarat Co-operative Milk Marketing Federation (GCMMF) has opened more than 12.5 lakh new accounts for milk producers and payment is channelized through these only.
GCMMF has achieved a CARG of 20 percent in the last seven years. The dairy major has increased its turnover by about 3.5 times during this period. Growth has been possible because of higher milk procurement, the addition of new markets, new product launches and the addition of milk processing capacity. In the next three years, Amul will further step up its milk processing capacity to 380 lakh liters per day from the present 300 lakh liters.
Heritage Fresh reports growth of 30% a year
Hyderabad – based Heritage Fresh which is one of the largest supermarket chains in the city has opened its 80th store. The new store is offering customers a minimum 3 percent discount on all branded products. Fruits and vegetables and loose staples are priced lower than nearby wholesale markets and customers are guaranteed a freebie against all purchases above Rs.1999. Heritage Fresh has been expanding rapidly. In the past 20 months, they have opened 50 stores out of which 31 stores were opened in this financial year alone. The chain has thanked customers for their patronage and congratulated all employees for achieving 30 percent growth in the last two years.
Big Basket raises a fund of Rs.45 crore from Trifecta Capital
The Bengaluru-based online food and grocery portal Big Basket has been scouting for fresh funds after the $150 million Morgan Stanley fundraising failed to materialize. Big Basket has now raised Rs.45 crore in venture debt from Trifecta Capital which they will use for new cold chains and warehousing facility. They are also in the last phase of a pilot that will ensure that fruits and vegetables remain at a constant temperature which improves the shelf life of the produce by almost 10 days. Funding will be used to purchase large-scale equipment such as pre-coolers and ventilators for this pilot.
Big Basket is likely to face competition in the online food and grocery segment after Amazon has decided to step into it in a big way in India. Amazon is likely to invest $500 million in food retail here through offline stores. Flipkart too has shown keen interest to break into the grocery business. The interest in daily consumables is high because food and groceries are repeat purchases unlike other categories like electronics. Big Basket and Grofers have also submitted their FDI plans to enter the food retail segment through brick and mortar stores.
McCain India launches Pudina Chatka variant of Smiles
McCain Foods India, frozen ready-to-cook vegetarian snacks maker has launched
Smiles Pudina Chatka, a variant of the popular Smiles. McCain Smiles Pudina Chatka are crunchy potato treats that are crisp on the outside and soft on the inside. The tangy new variant has been developed specially for the Indian market and it can be baked or fried. McCain Foods India has endeavored to launch this flavor in Smiles after much research and have realized that the flavor enjoys immense popularity among the Indian consumers. The Pudina Chatka Smiles will be available nationally in a consumer-friendly pack size weighing 375g and priced at Rs.105. All McCain products are certified by the Food Safety and Standards Authority of India (FSSAI).
People and Appointments
Gaurav Singh is appointed Marriott’s multi-property general manager
Marriott International has appointed Gaurav Singh as multi-property general manager for Courtyard by Marriott Bengaluru Outer Ring Road, Fairfield by Marriott Bengaluru Outer Ring Road and Fairfield by Marriott Bengaluru Rajajinagar. Singh’s association with Marriot began in 2013. He has previously worked with ITC, Oberoi and the Leela Group of Hotels. A graduate of the Welcomgroup Graduate School of Hotel Administration, Manipal, he completed his post-graduation diploma in hotel management from ITC Hospitality Management Institute (WMI), Gurgaon.
Under his leadership, the one-year-old twin property was recognized at HICSA 2016 and HIFI 2016 and bagged the most preferred emerging hotel of the year award at the National Awards for Excellence in 2016. Singh has personally been awarded for excellence in F&B in 2013 and 2014 by Marriott Asia Pacific and Hotelier India’s general manager of the year 2016.
Metro Cash & Carry India appoints Udaiy Khanna as new HR director and head
Metro Cash & Carry India has now appointed Udaiy Khanna the director and head of human resources. He was formerly vice-president and head, human resources, Samsung Electronics India. METRO Cash & Carry is India’s leading business-to-business wholesaler, serving the needs of traders, hotels, restaurants, caterers, offices, and institution. Khanna is considered a motivated employee, experienced in human resources management and talent acquisition. He is adept at managing change initiatives across broad and has been appointed with the vision to strengthen the two most important pillars of Metro – people and culture.
Niren Chaudhary to be President and COO at Krispy Kreme
Niren Chaudhary has quit Yum Brands and has joined Krispy Kreme as President and Chief Operating Officer. Chaudhary joined Yum Brands in 1994 and was made President in 2011. He brought the Mexican fast food chain Taco Bell to India. Prior to joining Yum Brands, he worked with Taj Hotels for six years as executive assistant manager. Chaudhary is an MBA graduate from Faculty of Management Studies. He holds a Bachelor of Arts degree in Economics from St. Stephens College, University of Delhi. The hospitality division of Dubai based giant Landmark Group, Citymax India, has signed a franchise agreement with Krispy Kreme Doughnut Corporation to open its outlets in south and west India and Chaudhary will play a key role here.