Tuesday, 28 February 2017

Company Types in the Kingdom of Saudi Arabia

Knowing which corporate vehicle to use is a key concern in any commercial enterprise. This article will summarise the different types of corporate entity used within the Kingdom of Saudi Arabia and the key differences between them.

Regulation of Companies

The formation and operation of corporate entities in the Kingdom is regulated by the New Companies Regulations (the “NCR”) which came into effect on 2 May 2016.

The five forms of companies which can be established in the Kingdom are: 
  1. joint liability companies (the equivalent of general partnerships);
  2. limited partnership companies (the equivalent of limited liability partnerships);
  3. joint ventures;
  4. joint stock companies (“JSCs”); and
  5. limited liability companies (“LLCs”).

In addition, the NCR permits foreign companies to establish branches or representative offices in the Kingdom. Foreign investment in the Kingdom is also regulated by the Foreign Investment Law of 2000 and its Implementation Regulations of 2013 (as amended), which prohibits foreign investors from engaging in certain activities in the industrial and service sectors and requires foreign investors to obtain an investment licence from the Saudi Arabian General Investment Authority (“SAGIA”) before establishing any type of corporate structure in the Kingdom.

LLCs, JSCs and branches are the most common vehicles used by foreign investors in the Kingdom, although investors’ choices are generally driven by factors such as shareholder numbers, management structure and the business activities permitted. Industrial and certain types of service companies can be wholly-owned by foreign investors.

Other vehicles in the Kingdom include general partnerships, limited partnerships and joint ventures. Joint ventures do not have legal personality, are not subject to registration formalities and are not entered into the commercial register.

Characteristics of LLCs

LLCs are the equivalent of private limited companies and are the most common form of corporate vehicle in the Kingdom. Main characteristics of LLCs include: 
  • Shareholders: Minimum of one and maximum of 50 shareholders. A sole shareholder may only form one single shareholder LLC; a single shareholder LLC may not own another single shareholder LLC. 
  • Capital and Reserves: No minimum capital requirement, except for certain categories of SAGIA licensed companies which must have the required minimum capital; For example, a SAGIA-licensed industrial LLC must on incorporation have a minimum capital of SAR 1 million. Share contributions in kind must be independently valued. LLCs must annually set aside a minimum of 10% of net profits to form a statutory reserve. The LLC may stop this allocation when the statutory reserve reaches 30% of the LLC’s paid-up capital. 
  • No public subscription: The LLC may not offer its participation interests (shares) for public subscription. To do so, the LLC must be converted to a JSC. 
  • Liability of Shareholders: Shareholders are generally liable for the debts of the company only to the extent of their respective interests. Where a LLC’s losses exceed 50% of its capital and its directors do not take any steps to call a shareholder meeting or the shareholders fail to recapitalise or liquidate the LLC, the LLC will be liquidated by operation of law.
  • Directors: The LLC is managed by a sole director or a board of directors.  Confidentiality: A duty of confidentiality applies to all shareholders in respect of company information they receive in their capacity as shareholders.
  • Share Transfers: Transfers to third parties are subject to a statutory pre-emption right. Transfers must be (i) recorded in the LLC’s share register lodged with the Ministry of Commerce and Investment (“MOCI”) and (ii) reflected in the LLC’s articles of association through execution of a shareholder’ resolution before a Saudi notary public. Shareholders are able to specify a valuation method for their interests in the LLC in the articles of association.

Characteristics of JSCs

JSCs are the equivalent of public limited companies. Certain types of business must be carried out through a JSC, including banking, insurance and finance business. There are two types of JSCs: “closed” JSCs, which are unlisted JSCs and “public” JSCs, which are listed as JSC-listed. All companies listed on the Saudi Stock Exchange are “public” JSCs and are subject to a higher degree of oversight, including by the Capital Market Authority. JSCs are incorporated on the basis of a resolution of the MOCI; further authorisation by royal decree is required if the JSC is to receive state assistance or intends to undertake public sector projects, banking or insurance activities. JSCs are subject to more regulation than LLCs and compliance costs are significantly higher. Other characteristics of JSCs include:
  • Shareholders: Minimum of two shareholders. A closed JSC may be incorporated with a single shareholder if the JSC is owned by a government-related body or its share capital is SAR 5 million or more. 
  • Capital and Reserves: Minimum capital requirement of SAR 500,000, except for certain categories of SAGIA licensed companies which must have the required minimum capital. 25% of a JSC’s capital must be paid up at the time of incorporation and the balance must be paid up within five years. Share contributions in kind must be independently valued. Like LLCs, JSCs must set aside a minimum of 10% of net profits until the statutory reserve reaches 30% of the JSC’s paid-up capital. The shareholders of a JSC enjoy statutory pre-emption rights on issue of new shares.
  • Liability of Shareholders: As for LLCs.
  • Directors: Minimum of three and maximum of 11 directors.
  • Minority Interests: The NCR strengthened the position of minority interests in the following ways:
  • introducing cumulative voting for the election of members of the board. This allows shareholders to cast all of their votes to a single nominee for the board, rather than having to divide the total value of their votes amongst different candidates for board membership. As a result, depending on how majority shareholders 3 allocate their votes, minority shareholders may still be able to appoint their own board members, thereby improving their representation;

  • imposing a requirement to establish an audit committee independent from the board;  providing that the position of the chairman may not be combined with any other executive position; and
  • granting the right to nominate board members in accordance with the shareholder’s ownership percentage.
  • Debt Issuance: JSCs may issue sukuks and other debt instruments; these may be converted into negotiable shares.
  • Dealing in Shares: JSCs are permitted to buy-back or mortgage their shares.
  • Transfers: The shareholders of a JSC do not enjoy statutory pre-emption rights on share transfers.  
  • Conflicts of Interest: Rules prevent JSC board members who have a direct or indirect interest in any of the JSC’s business from voting at board or shareholder meetings in respect of the same. Where a board member fails to disclose such interest, the relevant contract could be nullified and the board member may be required to repay any profits received.

Both LLCs and JSCs are permitted to be holding companies, provided none of their subsidiaries hold shares in the holding company.

Branches and TSOs

Foreign investors may establish branches and Technical and Scientific Offices (“TSO”) in the Kingdom. All branches and TSOs must be licenced by SAGIA.

Branches are considered an extension of the parent company. Branches must have a minimum capital of SAR 500,000. The main advantage of branches and TSOs is that they can be established relatively quickly compared to LLCs and JSCs. Branches:
  • can be used for a full range of activities permitted in the SAGIA licence of the branch;
  • can engage in projects in both the public and private sector; and
  • may promote and solicit its SAGIA-licensed business throughout the Kingdom.

Resource: http://www.lexology.com
REsource: http://grandiose.org.in/

Tammy Trade's B2B e-marketplace takes off with over 300 deals

Tammy Trade, India's fastest growing B2B e-marketplace, is off to a flying start since its launch in October 2016. In the agro-commodities space, Tammy Trade has already facilitated bulk orders for paddy, wheat, rice, soya and maize to name a few, with sales volumes ranging from 200 to 2600 tons.

Done Deals include bulk orders initiated by buyers in Kerala, Tamil Nadu, Maharashtra, NCR and fulfilled by Tammy Trade's Verified Sellers across India. In this short duration Tammy Trade has also facilitated a few cross border transactions. Numerous deals have also been concluded in office supplies and lifestyle products. Over 300 done deals across verticals is true testimony to the momentum generated by the platform and an affirmation of its business model.

As India's first integrated e-marketplace, Tammy Trade serves as a one-point, one-click platform that helps you access buyers and sellers dealing in agro commodities, lifestyle products and office supplies - across India and around the world. Tammy Trade features the product range of over 1000 sellers and 400 buyers and the number is growing daily.

The credentials of every party are pre-verified, which means you can focus on trading instead of spending time on background checks. The commodities are categorised, grouped and listed by place of origin and price. Verified Sellers have the facility to add or modify their catalogue of products.

Customers can seek the assistance of Tammy Trade's relationship managers for registration and transaction fulfillment. All transactions are online, and cashless. Payments can be made through a secure e-payment gateway. In short, a rare combination of excellence in navigation, web-based process and personalised offline support.

According to Dr. Abhijit Roy, Director, Tammy Trade, the objective of the online platform is to eliminate challenges of distance, time and accessibility in the B2B space. He noted that as an e-marketplace, Tammy Trade has emerged as a truly one-stop solution for reaching out to buyers and sellers, identifying genuine parties and fulfilling transactions through a secure and seamless platform.

"Our founders have created success stories in bulk commodities trading offline. Tammy Trade was conceived in the online space, based on their in-depth understanding of bulk trading and systemic challenges faced offline," said Roy.

"Normally, in the offline method of bulk trading, you would need extensive brick and mortar infrastructure, a marketing and sales team, and you have to meet parties face to face. With Tammy Trade, overheads are minimised and prospects can be found online," added Roy.

While most B2B e-commerce platforms serve as mere directories with product listings, Tammy Trade scores with several key differentiators:

Logistics: Tammy Trade collaborates with best-in-class logistics service partners to offer high-quality delivery services to registered customers.

Third Party Quality Check: Quality checks can be conducted on consignments by Tammy Trade's trusted quality assurance partners.

Packaging: Packaging service providers enlisted by Tammy Trade assist with special packaging needs.

Insurance: Accredited partners help fulfil insurance formalities to protect goods-in-transit.

Tammy Trade is an e-marketplace with a truly global footprint. Starting with a global affiliate in East Europe, the network is being extended to other parts of Europe, and across Middle East and South East Asia. Tammy Trade is also a member of the Indo German Chamber of Commerce, Indo-Arab Chamber of Commerce and Industries, and India Trade Promotion Organisation.

Resource: http://www.business-standard.com
Resource: http://grandiose.org.in/

PropUrban plans to expand presence

A city-headquarterd PropUrban, an online-to-offline (O2O) real estate investment advisory and transaction platform, dealing in commercial and residential properties, will be expanding its operations to four more cities such as Pune, Kochi, Ahmedabad, Delhi – NCR from its current operations in Chennai and Hyderabad in next three quarters.

Speaking to DH, Jaffer Ali, the founder and CEO of PropUrban, said “Besides focussing on local market, we are planning to reach out to customers in Singapore, Hong Kong in South East region to New York and Vancouver in far West of India before the end of this year. ”Currently the company has its global presence in Dubai and London. “With our global operations we wish to maintain 60:40 percentage ratio with 40% of revenues coming from local market,” Ali, said.

Asked on the target, he further said, “We are already working with over 100 channel partners. Setting a target of realising 1500 units during this year, our aim is to cross Rs 900 crore mark in next five years.”

A bootstrapped company with a total employee strength of 70 is looking at adding another 60 people before end of this year. The company envisions to be a single-point transaction-enabler for the global real estate industry. 

“By leveraging emerging technology and analytics, we produce in-depth insights in asset valuation, due diligence, capital markets, portfolio optimization and the changing real estate dynamics,” he added.

To a question on raising funds for their future requirements he said “We will be looking at raising series A funding of about $5-10 million in next three months.”

Incepted in May 2016, PropUrban, a part of the BlueringRealtech aggregates and showcases real estate properties listed by individuals and institutional sellers to global investors and end-users.

Resource: http://www.deccanherald.com
Resource: http://grandiose.org.in/

Monday, 27 February 2017

Telecom Aggregation Converting Days to Hours in Connection Activations

10digi is a telecom aggregator platform started by the father son duo of Mr. Ozair Yasin and Sherjil Ozair. The company provides free delivery of data cards and SIM cards within the region. The platform also allows users to choose service providers, compare types of plans and mobile number portability, recharge and bill payment options using payment methods most preferred in the e commerce domain.

The idea was conceived in 2015, but it started taking shape in 2016 after a lot of deliberations & brainstorming. By October 2016, the company was doing the pilot for this platform in the millennium city of Gurugram. On the basis of the pilot, 10digi rolled out its services in Delhi/NCR and will take it to 135 towns and cities in India by the end of next FY.

Other than providing free doorstep delivery the company boasts of activating telecom services within minutes using e-kyc which has now become the mandate for telecom service users. And with no other company in this telecom aggregation model,10digi is the market leader in its segment. The mobile retailer will reach a customer’s address at a pre-fixed time and will deliver the product after collecting all the necessary documents. In the absence of a hard copy, the finger print scan allows e-kyc verification instantly. While in situations where e-kyc cannot be done, then the hard copies are collected and shared at the local center where the documents are digitalized and sent for further processing.And in scenarioswhere neither of the twoarepresent, the company charges a nominal fees for scanning and printing of the same at the customers’ doorstep.

Mr. Ozair Yasin, Co-founder & MD, 10digi said, “This is a very unique model in India where your connectivity needs can be shared with a customer at their doorstep and we are very happy to be the market leaders in this. Given the competency of the parent company, we can offer something this unique which nobody can offer today.”

10digi is funded by its parent company, SoftAge Information Technology Ltd. and has received over Rs.75 lac for Delhi-NCR region and the parent company plans to further invest another Rs.2 crore across metro cities. 10digi has recruited 500 mobile retailers in the Delhi-NCR region and plans to increase the numbers to around 10,000 to captureat least 5% of the market in India.

At present, they are generating revenue from the operator’s end where they get their share on every connection activated. The company is looking at some very good numbers from the region where around 100 connections are being activated on a daily basis.

“We were aware of the core strength of the parent company and our industry outreach but it took some time to actually convince others within the organization to make them realize the potential of 10digi building on the core strength of its parent company. Free doorstep delivery along with document verification within few hours has helped to reduce the time from days to hours.” added Mr. Sherjil Ozair, Co-founder & CTO, 10digi

The company is on a very aggressive hiring spree to activate other circles in the country.Other than that Delhi/NCR region has seen a lot of marketing activities such as radio campaigns, branding at metro stations, OOH brandings etc. The company is also looking to increase its service portfolio by including mobile handsets delivery in the coming months. Mobiles, bundled with plans from telecom operators will also be rolled out very soon. 

The actual challenge for the company is to sustain the flow of users on their platform as most of them are not aware of how this one platform can take care of all their telecom needs. However, this also is an opportunity to tap the market where over 80,000 new connections are activated within Delhi/NCRper day. The awareness has to be spread not just in Delhi/NCR but to other towns as well from where people migrate to the city.

Resource: http://bwdisrupt.businessworld.in
Resource: http://grandiose.org.in/

Biryani By Kilo eyes sales of over Rs 200 crore in next three years

Good news for foodies out there. There is another food beast around. Gurgaon-based startup Biryani By Kilo (BBK) launched last year, is fast looking to make its mark in the burgeoning food-tech market.

The venture is the brainchild of Kaushik Roy, an industry veteran who has worked with the likes of Nirulas to Britannia; and branding and marketing professional Vishal Jindal. 

The startup has received funds from investors, including Chandigarh Angels Network, ex-Evalueserve Chief operating officer Ashish Gupta, GlobalLogic's Sunil Singh, US IT entrepreneur Alok Bhatia, to name a few.

AxisCades Engineering Technologies Ltd's Rohit Chand and his son Ashish Chand also participated in BBK investment round, through their family fund Yukti Securities, which makes angel investments in the food and IT sectors.

The firm will use the fresh funds to set up new kitchens in Delhi-NCR and strengthen technology and processes. “Currently, we have three operational kitchens in this region namely Gurgaon, Noida and Dwarka. South Delhi outlet should be functional by March 2017”. With the new fund raise, we will set up three more outlets, and a part will also be spent on infrastructure and hiring new talent,” said Vishal Jindal. 

BBK, which serves kebabs and Awadhi and Hyderabadi versions of biryanis, receives as many 60 percent of its orders, online.  The startup is eyeing gross annual sales of Rs 200-400 crore in the next three to five years. 

BBK has also invested in a cloud kitchen delivery model that gives it an advantage of low capex and rentals, flexibility to change locations, fast scale up, centralized marketing, good capital efficiency parameters and low wastage.

Resource: http://www.forbesindia.com
Resource: http://grandiose.org.in/

Sunday, 26 February 2017

MARG ERP eyes business gains in GST, to pump in Rs 100 cr

NEW DELHI: Leading software solutions provider MARG ERP is planning to invest up to Rs 100 crore to tap the business potential following implementation of the goods and services tax (GST). 

Software business worth over Rs 40,000 crore is expected to be generated in coming years after implementation of the new indirect tax regime GST, Managing Director Sudhir Singh said. 

"After the implementation of the GST, companies would need to change or upgrade their accounting and taxation softwares. We provide the most affordable solutions for all businesses, particularly small and medium enterprises and small traders," Singh said. 

He said the company is looking at raising about Rs 100 crore from private equity firms and other investors to tap this potential. 

"We are in talks with venture capital funds and private equity firms also. We will be investing the whole amount in strengthening our capacity in terms of hiring more manpower and expanding marketing and advertising," he told PTI. 

The company, which currently employs over 250 people, has already prepared the templates and "once we get the full picture of the products under GST, we will take very less time to deliver our services". 

"We want to tap 15 per cent of this market. Our plans are ready and we are continuously in touch with our existing and potential customers," he added. 

With implementation of the GST, he said, around four crore small business units are expected to get registered, which are going to be the potential customers for the company's product. 

As part of the awareness campaign to tap this opportunity, the company has already started road shows in different parts of the country. 

MARG ERP has created 5,000 GST help desks, across the country to help small businesses make the switch to the GST. 

"It is expected that around 8 million new taxpayers will also be registered. They need to be educated about the new tax regime," Singh added. 

He said the company has also organised a huge multi-city road show to educate businesses on the GST. 

Resource: http://economictimes.indiatimes.com/
Resource: http://grandiose.org.in/

Delhi's iconic Centaur Hotel to be razed for aircraft parking

NEW DELHI: Centaur Hotel, a city landmark built for the 1982 Asian Games, will soon be consigned to history.

The Delhi International Airport Pvt Ltd (DIAL) says the site of the hotel will be needed by December 2019 — by when it would have completed 37 years— to make way for aircraft parking bays as part of the terminal 3 expansion plan. "The site is not needed for the fourth runway as that will be built slightly ahead of it towards the existing third runway (29). But we have to make additional parking bays and the Centaur site is needed for that," said a senior airport official.

Run by Air India, the 376-room Centaur was a landmark when it opened because of its glitzy interiors. Its glass elevators visible from the central lobby, a novelty back then that only Le Meridien at Janpath boasted of, were a big hit. Today, it is a pale shadow of its original self due to years of mismanagement and poor upkeep. Despite its prime location, flyers began patronising other five-stars in Delhi and Gurgaon. AI is likely to ask for land elsewhere in the 4,608-acre IGI Airport complex in lieu of this site.

Meanwhile, the lifespan of another 1982-era structure at IGI Airport — terminal 2 — that was to be demolished in 2020 to make way for a brand new T4, may get extended. T2 served as the international terminal from 1982 to 2010, when T3 opened.

In 2010, T2 was mothballed and the Delhi International Airport Pvt Ltd (DIAL) has now made it ready to handle domestic flights of some low cost carriers (LCCs) which will be shifted here from T1. T1 is currently used for all domestic arrivals and departures of IndiGo, SpiceJet and GoAir. The combined traffic of these three airlines is more than the built capacity of T1 and DIAL is in talks with the three LCCs to shift a couple of them to T2 to decongest T1 as well as get space at T1 to begin expansion work there.

"Some of these LCCs are open to shifting entirely from T1 to T2 but they have only one issue — they move from T1 to T2 in early 2017 and then return to T1 in 2020, when T2 is scheduled to be demolished. They are not comfortable with the idea of shifting operations twice in three years. The budget airlines open to shifting have asked us to examine if T2 can be retained and T4 built nearby so that they don't need to move again in 2020," said the official.

This is the main reason why shifting of airlines from T1 is stuck despite the fact that the terminal is operating passengers more than its built capacity, leading to severe congestion during peak morning and evening hours. Aviation secretary R N Choubey is trying to end this impasse as decongesting T1is a must to end flyers' misery as well as to create space here to begin expansion work. Since T4 will not be built in one go like T3, DIAL may go in for a phased construction allowing T2 to survive a little longer.

Resource: http://timesofindia.indiatimes.com
Resource: http://grandiose.org.in/

Friday, 24 February 2017

HIL 2017: Dabang Mumbai Eye Delhi Scalp in Semi-Finals

Chandigarh: Maiden semi-finalists Dabang Mumbai will look to extend their dream campaign into the final of the Hockey India League (HIL) when they face former champions Delhi Waveriders in a last four battle at the Chandigarh Hockey Stadium here on Saturday.

Dabang Mumbai had failed to reach the semi-finals in the last two years of existence and this year they have changed that by displaying top-class hockey which enabled them to finish first in the league phase. In fact in 2013 and 2014, the now-disbanded Mumbai Magicians franchise from the financial capital, had never made it to the semi-finals.

"As a franchise, this is the first time Dabang Mumbai is playing in a semi-final and the mood in the team is upbeat and everyone is excited to play," captain Florian Fuchs, a $96,000 German recruit, said, quite aware of the importance of the contest.

Even though Delhi got off to a slow start but the Cedric D'Souza-coached side made remarkable comeback in the league phase with some fine victories against defending champions Jaypee Punjab Warriors, Kalinga Lancers and Uttar Pradesh Wizards that ensured a spot in the knockout.

"Though Delhi Waveriders didn't get off to a great start nor did they lose games by big margins, they have managed to turn things around for themselves with some inspiring performances," Fuchs said of the national capital outfit.

But Fuchs knows that be come any challenge, his side is prepared and has shown their fighting ability by pulling off winners in the dying seconds of at least three matches.

Delhi Waveriders, on the other hand, would be hoping to keep up their winning ways despite a loss in their previous game to Ranchi Rays. They will be heavily banking on defenders Iain Lewers, Justin Reid-Ross and Rupinder Pal Singh, midfielders Austin Smith, Tristian White and Harjeet Singh to provide good ball supply to German Niklas Wellen, Mandeep Singh and Parvinder Singh in the forward line.

"I think we played well in the last 15 minutes against Ranchi Rays but we had conceded too many goals to make a comeback. We can't afford to make the kind of mistakes we did in the league stage. Dabang Mumbai have been very consistent this season and we need to make sure we don't miss out on the chances we create.

"The beauty of the tournament is such that you can't predict which team will pull off a win and I am sure it will be an exciting outing of hockey on Saturday," stated India's ace drag-flicker Rupinder, the skipper of Delhi.

The defence, comprising Sander De Wijn, Jeremy Hayward, Harmanpreet Singh and Gurmail Singh have improved as the league progressed. World Goalkeeper of the Year 2015 and 2016 David Harte of Ireland has also been rock solid, giving the confidence and assurance the team to go out on attack.

Against a well-drilled unit like Mumbai, Delhi's tactic of waiting for the opponent's mistake will be tested to the hilt.

Resource: http://www.news18.com/
Resource: http://grandiose.org.in/

Fashion jewellery brand Voylla enters franchise business

CHENNAI: Fashion jewellery brand Voylla has entered the franchise business after opening 100 company-owned stores in December 2016. The company's debut franchise store has opened in Ludhiana.

Voylla's franchises will spread across the country in the coming financial year.

Vishwas Shringi, CEO, Voylla said, "The main aim of entering the franchise business is to expand our operations and business all over the country. These franchise stores will be self-sustained and will also provide good returns on investment to the franchise owners. We plan to open a hundred more franchise outlets in next five years."

Voylla retails its collections online through Voylla.com and on marketplaces like Flipkart, Amazon and Myntra.

The startup opened its first store in Delhi in December 2015. In October 2015, Voylla raised $15 million from the private equity firm Peepul capital. It raised two rounds of funds in 2012 and 2013 by Snow Leopard Technology Ventures.

Resource: http://timesofindia.indiatimes.com
Resource: http://grandiose.org.in/

Thursday, 23 February 2017

Delhi Ad Club’s annual quiz witnessed enthusiastic participation from prominent agencies

The Delhi Ad Club has been organising a Business and Marketing Quiz since several years. It is a keenly contested event wherein eager quiz enthusiasts from ad agencies and media alike participate in good numbers and make it an even more fun-filled and successful event. This year, the quiz was held on February 8, 2017.

The event was promoted amongst all creative and media agencies in Delhi-NCR. This year, the event witnessed a participation of 21 teams from all the leading agencies such as Group M, Lowe Lintas, Havas, Grey Worldwide, Innocean and Carat among others

Commenting on the occasion, Deepak Hiremath, Hony. President, Delhi Ad Club, said, "It was a great event where stalwarts of the advertising and corporate world met, conquered and had a blast. No wonder, it's one of the much-awaited events in Delhi.

Resource: http://www.exchange4media.com
Resource: http://grandiose.org.in

Westin Hotels & Resorts opens 'The Westin Pushkar Resort & Spa' in India

Westin Hotels & Resorts, part of Marriott International Inc. (NASDAQ: MAR) announced the opening of The Westin Pushkar Resort & Spa in Rajasthan, India. Owned by Paradise Properties, the newly-built resort aims to bring the Westin brand’s innovative wellness initiatives to the renowned spiritual destination of Pushkar.

“With more travellers looking to maintain their wellness routines while on the road, The Westin Pushkar Resort & Spa is thrilled to offer guests the brand’s signature amenities and programs, designed to evoke renewal and well-being,” said Jagdeep Nambiar, GM, The Westin Pushkar Resort & Spa.

India’s seventh Westin property, The Westin Pushkar Resort & Spa is surrounded by the picturesque Aravalli Hills and spread across 11 acres. The property offers 98 contemporary guestrooms, of which 44 feature private pools. In addition to the signature amenities, including the Westin Heavenly Bed and the Westin Heavenly Bath, the resort embraces Westin’s innovative programming designed to inspire balance and enhance well-being, leaving guests feeling better than when they arrived.

The resort will offer a choice of four unique dining venues: Seasonal Tastes, the signature all-day dining restaurant, will serve up international and local cuisines alongside Westin’s nutrient-rich SuperFoodsRx and Fresh by the Juicery menus; Panorama, the resort’s roof-top lounge, will offer snacks and beverages with a view; Splash will feature a refreshing menu of light bites and drinks, served by the poolside; while Mix will offer a range of cocktails and beverages at the bar.
 
Underscoring the brand’s mission to be a partner in guests’ well-being before, during and after their stay, The Westin Pushkar Resort & Spa boasts a 10,000 square-foot Heavenly Spa with seven therapy rooms offering a range of local and international treatments. Additional amenities include a sprawling, outdoor pool located at the center of the resort, and a state-of-the-art Westin Workout fitness studio. For family entertainment, The Westin Family Kids’ Club features a 20-seat mini theater.

The Westin Pushkar Resort & Spa will also offer over 19,000 square feet of versatile function space, including a ballroom and meeting rooms, as well as a beautiful garden for corporate events and weddings.

“The opening of The Westin Pushkar Resort & Spa brings the first internationally-branded resort to the city of Pushkar,” said Pankaj Prabhashankar Saboo, Managing Partner, Paradise Properties, a part of Paradise Group. “The newly-built resort will combine the spiritual essence of the Holy City along with the well-being philosophy and programs of the Westin brand, offering unparalleled experiences and facilities to our guests.”

The Westin Pushkar Resort & Spa joins the brand’s expanding portfolio in India, including The Westin Sohna Resort & Spa in Delhi NCR; The Westin Gurgaon, New Delhi; The Westin Mumbai Garden City; The Westin Pune Koregaon Park; The Westin Chennai Velachery; and The Westin Hyderabad Mindspace.

Resource: http://www.travelbizmonitor.com
Resource: http://grandiose.org.in/

Tuesday, 21 February 2017

Tpot Cafe looks for 1 million investments in the next 3 months

Tpot Cafe, a Delhi based chai cafe company has said that they are looking to invest 1 million in the next 3 months to start 50 stores across Delhi NCR.

Robin Jha, Co-founder, Tpot Cafe, said, "We have just started the execution of our new outlet and we expect to hit number of 50 stores in next 3 months. We are looking to invest 1 million dollar. The idea is to create good team before we start opening more stores. Secondly, we will invest lot of money in processes and product too."

Tpot Cafe currently runs 25 outlets in Delhi / NCR and it has monthly revenue of around Rs 50 lakh.

The Cafe brand said they see a lot of opportunities in the chai cafe market.

Jha said, "If you see CCD which is into coffee retailing, has around 3000- 4000 outlets in India. And tea is 8 times bigger market than coffee, even if we are able to capture the stores that CCD alone has in India, we have an opportunity of at least 5000 stores in India and I am sure that top 3 to 4 players in this space will have almost 80-85 percent of those stores.

So there are possibilities of at least 500 stores in India for us (Tpot) in next 2-3 year by 2020. And that what’s our focus is to raise money for the expansion and to build the team that will help us in operations."

Resource: http://news.franchiseindia.com
Resource: http://grandiose.org.in/

Westin Hotels & Resorts expands presence in India with the opening of The Westin Pushkar Resort & Spa

Westin Hotels & Resorts, part of Marriott International Inc. (NASDAQ: MAR) today announced the highly-anticipated opening of The Westin Pushkar Resort & Spa in Rajasthan, the popular desert state of India. Owned by Paradise Properties, the newly-built resort aims to bring the Westin brand’s innovative wellness initiatives to the renowned spiritual destination of Pushkar.

“With more travellers looking to maintain their wellness routines while on the road, The Westin Pushkar Resort & Spa is thrilled to offer guests the brand’s signature amenities and programs, designed to evoke renewal and well-being,” said Jagdeep Nambiar, GM, The Westin Pushkar Resort & Spa.

India’s seventh Westin property, The Westin Pushkar Resort & Spa is surrounded by the picturesque Aravalli Hills and spread across 11 acres. The property offers 98 contemporary guestrooms, of which 44 feature private pools. In addition to the signature amenities, including the Westin Heavenly Bed and the Westin Heavenly Bath, the resort embraces Westin’s innovative programming designed to inspire balance and enhance well-being, leaving guests feeling better than when they arrived.

The resort will offer a choice of four unique dining venues: Seasonal Tastes, the signature all-day dining restaurant, will serve up international and local cuisines alongside Westin’s nutrient-rich SuperFoodsRx and Fresh by the Juicery menus; Panorama, the resort’s roof-top lounge, will offer snacks and beverages with a view; Splash will feature a refreshing menu of light bites and drinks, served by the poolside; while Mix will offer a range of cocktails and beverages at the bar.
  
Underscoring the brand’s mission to be a partner in guests’ well-being before, during and after their stay, The Westin Pushkar Resort & Spa boasts a 10,000 square-foot Heavenly Spa with seven therapy rooms offering a range of local and international treatments. Additional amenities include a sprawling, outdoor pool located at the center of the resort, and a state-of-the-art Westin Workout fitness studio. For family entertainment, The Westin Family Kids’ Club features a 20-seat mini theater. 

The Westin Pushkar Resort & Spa will also offer over 19,000 square feet of versatile function space, including a ballroom and meeting rooms, as well as a beautiful garden for corporate events and weddings. 

“The opening of The Westin Pushkar Resort & Spa brings the first internationally-branded resort to the city of Pushkar,” said Pankaj Prabhashankar Saboo, Managing Partner, Paradise Properties, a part of Paradise Group. “The newly-built resort will combine the spiritual essence of the Holy City along with the well-being philosophy and programs of the Westin brand, offering unparalleled experiences and facilities to our guests.”

One of the oldest cities of India, Pushkar is separated from Ajmer, another popular tourist destination, by Nag Parbat, or Snake Hill. The city is known for its annual Camel Fair held in November, as well as the famous 14th century Brahma Temple. Ideally located, guests at The Westin Pushkar Resort & Spa can experience the area’s various cultural and historical offerings.

The Westin Pushkar Resort & Spa joins the brand’s expanding portfolio in India, including The Westin Sohna Resort & Spa in Delhi NCR; The Westin Gurgaon, New Delhi; The Westin Mumbai Garden City; The Westin Pune Koregaon Park; The Westin Chennai Velachery; and The Westin Hyderabad Mindspace.

Resource: http://www.hospitalitybizindia.com
Resource: http://grandiose.org.in/

Friday, 17 February 2017

Chargers' window to use franchise tag on Melvin Ingram opens Wednesday

SAN DIEGO – The window for NFL teams to apply the franchise tag on players set to hit free agency begins on Wednesday and closes at 3 p.m. ET March 1.

For the Los Angeles Chargers, it provides an opportunity for general manager Tom Telesco to figure out what to do about pending free agent Melvin Ingram.

Ingram, a former South Carolina star, will be one of the top free agents in March if allowed to hit the market. With 18.5 sacks in the last two seasons, Ingram is tied for 12th in the NFL in that time period.

Paired with second-year pro Joey Bosa, the Chargers have one of the best pass-rusher tandems in the NFL.

Ingram turns 28 years old in April, and the Chargers have to figure out if he’s a good fit in new defensive coordinator Gus Bradley’s scheme, along with determining if he’s worth the long-term financial investment.

Olivier Vernon set the bar for pass-rushers by signing a five-year, $85 million contract that included $52.5 million in guaranteed money with the New York Giants in free agency last year.

The Chargers likely would be unwilling to match that kind of deal.

The franchise tag is a labor designation that restricts a player’s potential movement in exchange for a high one-year salary. It is governed by owners and players through the collective bargaining agreement.

There are two types of designations, exclusive rights and non-exclusive. The exclusive-rights franchise tag designation means a player is bound to the team for the upcoming season. A player’s agent is prohibited from seeking offer sheets elsewhere.

The amount earned is the average of the five largest salaries at the player’s position through the end of the current year’s restricted free-agent signing period (April 21 this year), or 120 percent of the player's salary the previous year -- whichever is greater.

With the nonexclusive franchise tag, players can sign an offer sheet with another team. The original team has the opportunity to match that offer and retain the player under those exact terms, or it can allow the player to leave in exchange for two first-round draft picks from the new team.

The Chargers have used the franchise tag just six times in team history. The last time was in 2011 on receiver Vincent Jackson. The Chargers have used the transition tag just three times in franchise history.

The amount it would cost to retain Ingram for a season will depend on if he’s designated a linebacker or a defensive end. ESPN’s John Clayton projects a franchise-tag designation of $15,287,383 for linebackers and $16,988,266 for defensive ends, with a projected salary cap of $168 million.

The problem for the Chargers would be the cap hit the team would take if Ingram signed the franchise tender. The Chargers have roughly $20 million in cap space, and all of Ingram’s salary would be designated toward this year’s cap.

So it would be beneficial for the Chargers to get a long-term deal done with Ingram to lower his cap number.

According to the NFL Players Association database, Ingram is represented at Roc Nation Sports by Kim Miale, Ari Nissim and John Thornton.

Resource: http://www.espn.com
Resource: http://grandiose.org.in/

Kirk Cousins May Be Franchised Again By Washington Redskins

The Washington Redskins are in yet another conundrum with quarterback Kirk Cousins. They may have to franchise their starter for another year if they cannot agree to a long term deal.

One of the recurring themes for the Washington Redskins over the past couple of offseasons has been Kirk Cousins‘ contract. The quarterback took over for the embattled Robert Griffin III during the 2015 season, and put together a spectacular season. He led the Redskins to the playoffs before being franchised by them in the 2016 offseason. In 2017, it seems like a similar scenario is playing itself out.

Cousins put together another strong campaign in 2016, and it appeared that he was in line to get  a massive long term deal. However, in the final month of the season, his performance tapered off and that caused the Redskins interest in a long term deal to become lukewarm. Now, the team has another decision to make as Cousins is set to hit the free agent market.

Between February 15 and March 1 of this offseason, the team has to decide whether or not they want to re-sign Cousins to a long term agreement, let him walk, or slap him with the franchise tag again. As of right now, it appears that the latter-most option may be what the the team is leaning towards.

According to Mike Jones of the Washington Post, the Redskins and Cousins may not be able to agree on a long term deal prior to the franchise tag deadline. If that happens, the Redskins may be forced to tag Cousins once again. The kicker is that the franchise tag cost would increase by 20 percent from what it was in the previous year. In that case, Cousins would make nearly $24 million in the upcoming season, which would be a monstrous amount. Some have argued that paying that value would be foolish. However, tagging Cousins would give the Redskins one thing. Time.

If Cousins gets tagged again, the Redskins will have until July 15 to sign him to a long term deal. In that sort of deal, they could minimize the impact on the salary cap while still giving Cousins a fair deal. He seems likely to land a deal somewhere in the five year, $100 million deal, and his value should cap at $110 million, similar to the Aaron Rodgers deal. Still, the Redskins may not be able to get him to agree on that deal so early in the offseason, as lucrative long-term extensions tend to be a long process.

Regardless, the Redskins would still benefit from tagging Cousins. If they do, they will have options. The first would be to try and sign him to a long term deal. The second would be to possibly trade him to another team. Both the San Francisco 49ers and the Los Angeles Rams have former Redskins offensive coordinators as their head coaches. Perhaps one of them could be willing to move assets to get him, though it seems that Kyle Shanahan and the 49ers would be the better bet.

Finally, the option of having Cousins around for one more season would not hurt the Redskins. If he does well, then they could serious consider signing him to a long term deal and will have enough of a sample size to justify it. If he tanks, then they can move on from him and possibly Jay Gruden as they look to shake up the team.

Cousins has no qualms playing on the tag, and it may keep him motivated to succeed. At the end of the day, the Redskins can only gain from tagging Cousins. If they let him walk in free agency, they will merely receive a compensatory pick for their troubles. That would be a terrible option and the front office realizes this.

Resource: http://riggosrag.com
Resource: http://grandiose.org.in/

Thursday, 16 February 2017

DLF Promenade to launch Future Group’s fast fashion brand Cover Story in March

The other brands the mall is bringing along are Namak Mandi, a fusion of Awadhi and Peshwari cuisine, Clinique – an American manufacture of skincare, cosmetics, toiletries and fragrances brand.

NEW DELHI: Premium mall DLF Promenade today said they are going to launch a host of new brands including Future Group owned fast fashion brand Cover Story by the first week of March’2017.

The other brands the mall is bringing along are Namak Mandi, a fusion of Awadhi and Peshwari cuisine, Clinique – an American manufacture of skincare, cosmetics, toiletries and fragrances brand.

“We are looking forward to have a bunch of new brands on board, sooner. We have Namak Mandi, highlighting a fusion of Awadhi and Peshwari cuisine. The brand comes with the legacy of celebrated chef Imtiaz Qureshi serving succulent kebabs, luscious curries n signature biryanis", Dinaz Madhukar, Mall Head, DLF Promenade and DLF Emporio said.

"Then we have Clinique – an American manufacture of skincare, cosmetics, toiletries and fragrances. It also includes a whole new range of cosmetics from lipstics, nail paints, face and body products", she further added.

"Last but not the least, we have a much exciting apparel brand for women - Cover Story – a brand new option for shopaholics, as the brand brings together some really cool apparel and accessories perfect for the modern contemporary Indian woman. Cover Story aims to be a new-age fast-fashion brand by Future Style Lab {a subsidiary of Future Group} by effortlessly blending elegance with style in all their designs. They should be opening in the first week of March", Madhukar said.

DLF Promenade hosts a total of 150 brands including Zara, Marks & Spencer's, DT Cinemas and Eat Food Lounge as their anchor tenants.

Speaking to ETRetail, Madhukar said, in the month of November, DLF Promenade has seen a drop of 30% in sales and 20% in footfall. But from December onward, things started to become normal for them.

However,coping with the digitization policy, she said, they aim to be fast off the ground with other digital payment channels.

Answering to whether the mall has observed any fall in footfall due to the popularity of online shopping, Madhukar said they are not affected by the rise of online shopping as a trend. 

“When an individual is purchasing goods worth a few thousand they always like to see and touch the product in person. Lately, we have been seeing the online players trying to enter the brick and mortar space. We can say, the online space does not really affect the brick and mortar model,” she explained.

Resource: http://retail.economictimes.indiatimes.com
Resource: http://grandiose.org.in/

Textiles Department Working on branding of handicrafts items

Greater Noida, Feb 16 (PTI) The Department of Textiles is working on branding of handicraft items which will be introduced to the market very soon, a top Textile Ministry official said today.

The branding exercise is very similar to that of handloom items which has been launched recently. It will also generate better quality assurance and certification and selling of handicrafts products in the International markets, Rashmi Verma, Secretary (Textiles), Ministry of Textiles said today at the  inaugural session of the 5-day handicraft and gift fair IHGF- Delhi Fair Spring 2017 at India Expo Centre & Mart, Greater Noida.

?Artisans and manufacturers of Indian handicrafts at craft clusters are to be guided for creating new products to be competitive and EPCH is already playing key role in providing platform and hand holding at IHGF-Delhi Fair to products being made by artisans, craftpersons and upcoming entrepreneurs from different craft clusters to interact directly with the International buyers."

Through this direct buyer-seller meet Indian handicrafts can grow further not only in terms of exports but can further enhance the image of brand India in the market of home, fashion, lifestyles and textiles across the world," she said.

She expressed satisfaction that VRIKSH certificate for wooden items has been accepted worldwide.
Rakesh Kumar, ED ? EPCH  said buyers from renowned International buying companies having large number of stores such as New Edition Home BV Netherlands, TOK & Stok, Brazil, E&L, Australia, ROOST, USA, Accent Decor Inc, USA, Two?s Company Inc., USA, MOE?s Home, Canada, Kangaroo Gmbh, Germany, Kopyko, Venezuela are visiting this edition of the show.

Apart from overseas buyers, domestic volume retail buyers from  many leading retail chains of India and e-commerce companies have become regular visitors to the fair and home, lifestyles, fashion and textile products have attained sizeable place in every Indian chain stores such as Good Earth, Furniture Republic, Fab India, West Side, Archies, DLF brands ltd, @home, Shoppers Stop, Lifestyles group, Urban Ladder, Pepperfry. Ajio, FabFurnish and Shopclues. PTI CORR JM

Resource: http://indiatoday.intoday.in
Resource: http://grandiose.org.in/

Wednesday, 15 February 2017

Muji to launch store in Select Citywalk Mall, New Delhi

The retailer, which sells a wide array of products, ranging from stationery and clothing to furniture and food, had launched two stores in Mumbai and Bangalore in the last six months.

Bengaluru: Japanese retailer Muji is opening a store in Select Citywalk in New Delhi by the last week of April this year. This will be the company’s first store in North India spread across 5000 square feet.

The retailer, which sells a wide array of products, ranging from stationery and clothing to furniture and food, had launched two stores in Mumbai and Bangalore in the last six months.

In 2015, Reliance Brands, a unit of Mukesh Ambani-led Reliance Industries, had struck a joint venture with Muji, which competes directly with Japan’s IKEA looking to open their first store in Hyderabad.

International markets contribute about 35% of the overall sales for the Japanese chain. The company plans to test waters in the Indian market by opening in key locations before getting into an expansion spree like in China.

Reliance Brands runs 100 standalone stores of about 20 international brands in the country. This includes the likes of Steve Madden, Diesel and Brooks Brothers.

Resource: http://retail.economictimes.indiatimes.com
Resource: http://grandiose.org.in/

Innov8 Co-working closed angel round of investments; looks at further expansion in metros

One of India’s leading workspace brands, Innov8 Co-working announced the closure of an angel round of investments that was led by the likes of LestVentures, Venture Catalysts and independent angel investors like, Rajan Anandan (Google), Kunal Shah(Freecharge/Snapdeal), Girish Mathrubhootham (Freshdesk), Punit Soni (Ex-Flipkart CPO), Anand Chandrasekeran (Facebook), Sunil Kalra (Via Projects), Utsav Somani (Angel List India), Vishal Gondal (GOQii), Vikram Limaye (IDFC Bank) and other investors.

Co-founders, Dr. Ritesh Malik and Shailesh Gupta, are themselves investors and serial entrepreneurs. They had forecasted the potential of the workspace industry and launched the brand Innov8 co-working in 2015. With its first centre in the heart of Delhi, Connaught Place. Innov8 focuses on targeting the most central and accessible locations in the city and ensures quirkiest and a comfortable atmosphere for its members.

Co-working as a culture in India is not even a decade old concept and therefore, the country is in a continuous process of exploring new use cases for it by various sectors. What started a few years ago as an affordable alternative to workspace for entrepreneurs and freelancers, is now seeking major attention of corporates that are regularly deploying smaller teams on projects in the new cities.

“We started Innov8 with an idea to provide beautifully designed, collaborative workspaces, community and services to our co-workers so that they can save their energies and focus on work,” said Shailesh Gupta.

To which, Dr. Ritesh Malik added, “More than the money when we were raising this round, our focus was to get the most supportive & hands on investors who’ve been there and done that.”

With innovation and collaboration as its core concept, Innov8 is the official address of its members including corporates, writers, entrepreneurs, homemakers, freelancers, investors, RJs, advocates, and NGO’s. The brand aims towards making mundane workspaces interesting and collaborative in such a way that co-workers can be at that best productive self. In addition to an exciting workspace, Innov8 also offers community services in legal, tax, accounting etc.

Resource: http://mybigplunge.com
Resource: http://grandiose.org.in/

Snapdeal looks to expand its fashion portfolio

New Delhi: India`s largest online marketplace, Snapdeal, announced the addition of over 120 new fashion brands to the platform. The expansion is in sync with the brand`s focus on building its fashion vertical.

Owing to the ever increasing demand of the users and their search patterns, Snapdeal will now offer the consumers an array of top national and international brands such as UCB, Puma, Nautica, U.S Polo Association and Steve Madden, to name a few."In line with our brand philosophy, Unbox Zindagi, we are always looking for ways to help our consumers fulfill these innate desires. The expansion of our fashion assortment is a major step in that direction. From national to international brands, Snapdeal aims to become the one stop shop for every fashion trend and style needs," said Vishal Chadha, Senior Vice President, Business, Snapdeal.

Fashion contributes up to 40 percent of Snapdeal`s sales volumes and has grown by a 50 percent year-on-year, with majority of the growth fuelled from tier I and tier II cities. Key beneficiaries of this growth include categories such as branded sports footwear that has grown in its contribution by 75 percent year-on-year, followed by women`s clothing growing by 60 percent. 

Resource: http://zeenews.india.com/
Resource: http://grandiose.org.in/

Tuesday, 14 February 2017

Carl's Jr. expands India footprint

The company said, the launch is a part of their master franchise agreement in Northern and Western India, between Cybiz and CKE Restaurants Holdings, Inc., ('CKE'), parent company of Carl’s Jr. and Hardee’s, to bring 100 restaurants to India over the next 10 years.

NEW DELHI: American burger chain Carl's Jr., today has announced the opening of it's new restaurant in Gurugram. Operated by Cybiz BrightStar Restaurants, which is owned by CybizCorp, the new restaurant has added new offerings to its menu such as chargrilled chicken patties, premium all white meat chicken breasts and delectable mutton burgers to locals, the company said in a statement.

The company said, the launch is a part of their master franchise agreement in Northern and Western India, between Cybiz and CKE Restaurants Holdings, Inc., ('CKE'), parent company of Carl’s Jr. and Hardee’s, to bring 100 restaurants to India over the next 10 years.

“We’re excited to continue expanding in India with the opening of a new restaurant at one of India’s most prime locations- Gold Course Road One Horizon Centre," Brad Sommer, VP, franchise operations & development at CKE said.

"Our premium yet affordably priced menu items really resonate with the diverse, rich flavours of the Indian palate, and we can’t wait for fans to try our thick, 100% unadulterated paneer patty coated with a rich spice blend or our 100% real white meat chicken breast marinated in a flavour mix of sauces and spices paired with a hand-scooped ice-cream shake,” he further said.

Carl’s Jr. believes that Gurugram is an ideal location to showcase its authentic menu which is specially designed for the Indian palate including the option of a honey wheat or lettuce-wrapped burger, juicy mutton burgers with four different flavors- korma mutton, mint mutton, awesome onion mutton and mutton famous star.

The new restaurant will also offer an all-you-can-drink soft beverages bar and partial table service.

"We are pleased to expand our brand to a whole new audience in Gurugram. Given the exceptional response we’ve had in Saket, Pacific Mall and Mall of India to our premium, bigger and chargrilled burgers, we expect the same level of enthusiasm for the brand in Gurugram," Samira Chopra, director, Cybiz BrightStar Restaurants Pvt. Ltd. (Carl's Jr. India) said.

Following the launch in Gurugram, Carl’s Jr. will be opening additional restaurants in the Delhi/NCR region before moving to other territories with sub-franchisees, they said.

CKE has a total of 3800 franchised or company-operated restaurants in 44 states and 40 foreign countries and U.S. territories.

Resource: http://retail.economictimes.indiatimes.com
Resource: http://grandiose.org.in/

Mumbai Based MM! Maroosh Plans To Expand Across India And Asia

The Mumbai based MM! Maroosh is looking at expanding pan India as well as to other countries in Asia in the coming months. The casual dining chain has 17 outlets across Mumbai and serves Lebanese  and North Indian fare; popular dishes include hummus, shawarmas and wraps.

GOING THE FRANCHISE ROUTE

Out of the company’s 30 stores in Nagpur and Mumbai, sixteen are company owned and fourteen are franchised.

SKIM
To expand, the company will be carrying forward its franchise plan. To this end, it has tied up with K Hospitality Corp who will take MM!Maroosh outlets to airports and railways stations across the country.

Ketan Kadam, founder and chief executive officer, MM! Maroosh said, “We have inked a 30-store franchise deal with TFS to be a part of the Indian Railways in the next three years. We have already opened outlets at Vizag and Pune railway stations.”

The brand plans to expand into Gujarat, Delhi, NCR and Bangalore. It will also expand in Sri Lanka followed by other Asian counties.

ENTERING THE FMCG SPACE

“MM! Maroosh will also enter the fast-moving consumer goods (FMCG) market in the coming six months with ranges of ready-to-cook gravies (makhni gravy, bhuna gravy and black dal), sauces (garlic sauce and Harissa sauce) and hummus (roasted garlic/ parsley jalapeno/sun-dried) under its brand name to be retailed at existing stores and e-tailers to start with. All that we will be investing in, is time,” Kadam said.

To fund the FMCG offerings, the brand will hold a funding drive. It has already raised the funds for the outlet expansion from Unilazer Ventures and Transcontinental.

Resource: https://www.hungryforever.com
Resource: http://grandiose.org.in/

White Rhino, new craft beer from NCR, in no hurry to go national

White Rhino beer’s founder Ishaan Puri is a staunch believer in building a brand on the twin pillars of quality and choice, says he would bring more variants this year

If the US hadn’t gone into a recession in 2008, Ishaan Puri would probably never have thought of an alternative to his job at asset management company BlackRock Inc. Though the firm was relatively unaffected, Puri did not think it was a safe option in the long term. He needed another. So, after two years at BlackRock, he decided to come back home in 2010.

Thanks to his days in Philadelphia while studying economics at the University of Pennsylvania, and in New York while working for BlackRock, Puri had developed a taste for craft beer. Back home, he began missing it and decided to brew one himself. In 2011, Puri signed up for a six-month diploma course to learn the art of brewing at Brewlab in the UK.

Over the next few years he set up a brewery at Malanpur, Gwalior, a city in Madhya Pradesh’s Chambal region. And, in October 2016, launched India’s first home-brewed craft beer at select restaurants and retail outlets in Gurgaon.

To create a beer that India had not tasted before, he got James Grastang, a brewer at Kernel Brewery, one of London’s most popular microbreweries, to switch to his brewery.

White Rhino was an instant success. Beer lovers liked it, and word-of-mouth pushed up demand – like it happened with Bira 91 that was launched in February 2015.

Puri, unlike Bira 91 founder Ankur Jain, kept the distribution restricted to Gurgaon before he entered parts of Delhi at the end of December 2016.

“Serve each market properly. There should not be any demand-supply gap in any of the markets we are present in,” he says.

In the last four months, the average sales of White Rhino have touched half a million litres a year. “This year, we’ll focus on Delhi and Gurgaon. White Rhino is available across 50 restaurants and pubs and a total of 30 select retail outlets in Delhi and Gurgaon. We may look at entering one more market (Karnataka or Maharashtra) in the summer,” Puri adds.

At present, White Rhino is available in two variants — a Belgian-style wheat beer and a Munich-style lager priced at Rs150 for a 330-ml bottle in Gurgaon and at Rs160 in Delhi.

“Half a million litres, or 5,000 hectolitres a year, was beyond our expectations. We did not do any marketing or promotions. It was all word-of-mouth. This year, we’ll sell double of last year,” says Puri.

The 32-year-old is a staunch believer in building a brand on the twin pillars of quality and choice. He is not into the volume game. “We won’t go for mindless retail expansion. I would rather bring variants of White Rhino — we’ll have 7-8 more this year,” he says.

With an average of one new market a year, backed by a three-member sales team, it’ll take Puri a long time to make White Rhino a national brand. But he is not in a hurry. He probably wants to avoid the mistakes that Bira 91 made resulting in a supply shortage last summer.

“White Rhino won’t face that issue. It has enough capacity to sustain, and it is operating in a much more calculated way. Plus, it is not into the discounting game for market share,” says Rahul Singh, founder and chief executive, The Beer CafĂ©, a chain of pubs that sells White Rhino among other beers. “It’s the best craft beer available in India to date,” adds Singh.

Consumers agree. “White Rhino is different. The addition of orange zest sets it apart from other beer options that are available. I first came across it at my local store and have been going back for it ever since,” says Devika Mann, a 25-year-old Delhi resident.

Even competitors can’t disagree. “I like it. Great effort by the guy,” says Ankur Jain, founder of Bira 91.

The company has a licensed capacity of 3 million litres, or 30,000 hectolitres a year. “Having the brewery in Madhya Pradesh is an advantage. It’s almost in the middle of India. You can reach any market within short time which is the key to maintain quality of a craft beer,” says Puri.

So far, he has spent Rs8-10 crore on his business which is owned by him and his family. “Eventually, we may look for external funding if we need that kind of expansion. There’s no need now,” says Puri.

White Rhino is a mild beer (with alcohol content below 5%) much like Bira and Witlinger (another craft beer). The Indian market is dominated by strong beers such as Kingfisher, Kalyani Black Label, Carlsberg Elephant, Budweiser Magnum and Miller ACE.

Craft beer is a relatively new category in India and the industry is growing at around 20%, according to All India Brewing Association. There are more than 80 microbreweries operating in India now, a huge jump compared to just two in 2008. Overall beer sales in India jumped 96% between 2010 and 2015 to $6.2 billion a year, according to a study by market research firm Euromonitor International.

Resource: http://www.livemint.com
Resource: http://grandiose.org.in/

Monday, 13 February 2017

Anytime Fitness to Add 20 More Fitness Clubs by the End of 2017

Anytime Fitness, a US-based gym chain has announced the geographical expansion with opening of additional 20 fitness clubs by the end of 2017. As an expansion plan, Anytime Fitness aims to spread out its wings to new territories like Jaipur, Lucknow, Punjab, Gujarat, and Maharashtra.

Having created its niche in the regions like Delhi /NCR, Mumbai, Ahmedabad, Gandhidham, Chennai, Hyderabad, Vizag, Raipur etc., Anytime fitness further eyes expansion in Tier II and III market. The brand has entered in India in 2012 and is considered as the fastest growing fitness chain in the world.

Speaking on expansion plan Vikas Jain, Managing Director, Anytime Fitness said, “We plan to realize the target in a phased manner by opening over 20 Fitness Clubs by the year end, and is also planning to tap Tier II and III market.” “Anytime Fitness is a perfect place for people who are looking to stay fit in their busy life. The clubs are open 365 days a year for its members and with our continuous efforts we want to be a part of the growing story of health and fitness industry in India.” He further added.

With the motto of making a healthier place with no limit, Anytime Fitness offers expert supervision with the high quality equipments at a convenient locations and hours. The brand aims to become the preferred, affordable, suitably-located clubs across India.

Anytime Fitness has nearly 3500 clubs globally including Singapore, Malaysia, Australia, Mexico, United States, Canada, United Kingdom, Hong Kong & New Zealand

Launched in 2012, Anytime Fitness, a US based gym chain has started its operation in India with its first branch opened in New Delhi. In 4 years, the company expanded its business to new territories and has launched 29 Fitness Clubs across Delhi, NCR, Mumbai, Ahmedabad, Chennai, Hyderabad etc. 

Resource: http://bwdisrupt.businessworld.in/
Resource: http://grandiose.org.in/

Wow! Momo determined to achieve Rs 500 cr turnover in 5 years

With national expansion on mind, fast food chain, Wow! Momo, is determined to attain Rs 500 crore turnover in five years.

The brand that launched its first store in Kolkata eight years ago, at present operates over 100 outlets in India and plans to add another 60 by the end of this calendar year.

Wow! Momo Co-Founder Sagar Daryani said, "We are treating Rs 500 crore turnover as a target in 5 years, with a network of 500 outlets that we plan to open by then. Our long term mission is to be India's version of McDonald's and become a global brand.”

Wow! Momo is also in the process of raising fresh funds of around Rs 50 crore, which will further cement the brand’s expansion drive.

Daryani said, "We will close fund raising by middle of this year and we plan to use this entire sum to expand our business,"

The company plans to expand rapidly in Kolkata, Delhi NCR and Bengaluru during this year, while small expansion in planned in Chennai as well. It also fancies its chances of entering new markets such as Hyderabad and Mumbai in the next fiscal.

The company is considering exporting packaged frozen momos abroad along with specially prepared momo sauces to make them available across shelves in modern trade.

The company had raised Rs 10 crore in its first round of funding from Indian Angel Network (IAN) in 2015 from investors like Sanjeev Bhikchandani, founder of Naukri.com (Info Edge), Saurabh Srivastava, co-founder at IAN and Ashvin Chadha, a serial entrepreneur, angel investor and Venture Capitalist.

Resource: http://news.franchiseindia.com
Resource: http://grandiose.org.in/

Sunday, 12 February 2017

Delhi Ad Club’s annual quiz witnessed enthusiastic participation from prominent agencies

The Delhi Ad Club has been organising a Business and Marketing Quiz since several years. It is a keenly contested event wherein eager quiz enthusiasts from ad agencies and media alike participate in good numbers and make it an even more fun-filled and successful event. This year, the quiz was held on February 8, 2017.

The event was promoted amongst all creative and media agencies in Delhi-NCR. This year, the event witnessed a participation of 21 teams from all the leading agencies such as Group M, Lowe Lintas, Havas, Grey Worldwide, Innocean and Carat among others

Commenting on the occasion, Deepak Hiremath, Hony. President, Delhi Ad Club, said, "It was a great event where stalwarts of the advertising and corporate world met, conquered and had a blast. No wonder, it's one of the much-awaited events in Delhi.

Resource: http://www.exchange4media.com
Resource: http://grandiose.org.in/

Delhipedia brings multiple mass events and brands to Delhi's internet elite

Delhipedia, a community engagement platform emerged as a key marketing partner for eight organisations in just two months. The online platform has already partnered with clients like LeEco for its campaign Festive Mirfie, the Green Wheels Bike Festival, Krackerjacker Karnival Delhi, Hindol Sengupta, author of The Modern Monk and Jeffrey Archer, author of the book 'This was a Man', to name a few.

Delhipedia has successfully been able to promote these brands with key digital tools like online video stories, social media contests and announcements. With an envious following on social media platforms like Facebook, Delhipedia has positioned itself as one of the most appropriate platform for brands to partner in order to drive brand engagement and sales.

"For the promotion of GIFLIF, we were looking for a partner through which we could reach out to the Delhi's movie lovers and literati. By partnering with Delhipedia, we were able to reach out to its nearly six lakh followers, which generated interest among many film and literature lovers, and led to a great response for the festival. Delhipedia's use of video content to draw audiences helped us build and grow community of followers, both during and post the event", said Karan Kukreja, co-founder of the Great Indian Literature and Film Festival (GIFLIF).

"According to a recent data released by Oxford Economics, Delhi has India's highest per capita income in India, pegged at Rs. 2, 80,000. This is about three times above the national average, and community engagement sites like Delhipedia offer a one-of-its kind interactive platform to reach out to the internet and e-commerce elites amongst them," added Arjun Pandey, Founder, Delhipedia.

Resource: http://www.business-standard.com
Resource: http://grandiose.org.in/