BRAND AWARENESS
International toy fair to begin on July 6; over 100 foreign buyers to participate
Wooden toy maker Gautam said that different categories of toys will be showcased to buyers such as electronics, soft toys, playground equipment and board games. The country's toy exports declined marginally to USD 152.34 million in 2023-24 from USD 153.89 million in the previous financial year, according to a report by economic think tank GTRI.
FSSAI ready to shake up protein powder space
The Food Safety and Standards Authority of India (FSSAI) is set to release tighter regulations on protein supplements, after it conducted a study which revealed that dozens of protein powders and supplements were being sold at store shelves, gymnasiums and e-commerce platforms with false and misleading claims, said one of the persons.
Premium luggage maker Eume raises Rs 15 crore in funding round led by Ashish Kacholia
Eume plans to open its first flagship store this year, starting in Mumbai and tapping the aspirational population in tier II and III cities are among the company's top priorities. The Mumbai-based luxury brand offer diverse products like luggage, vegan handbags, and accessories, among others. Eume's sales are split equally between its own website and marketplaces.
US steps up watch against counterfeit goods; Indians leave your fake Adidas, Gucci back home
The US Customs and Border Protection (CBP) has recently intensified efforts to combat the smuggling of counterfeit luxury products, leading to the confiscation of numerous fake Adidas, Nike, and Gucci items from travelers, particularly from India. Many students and visitors arriving in the United States have reported having their counterfeit Puma, Adidas, or Nike items seized at ports of entry.
JM Financial finalises investment of Rs 40 cr in Modish Tractoraurkisan
JM Financial Private Equity has finalised an investment of Rs 40 crore in Modish Tractoraurkisan Pvt Ltd, a farm equipment company. The company sells its products under the brand name Balwaan. This investment will drive the company's brand-building initiatives, enhance marketing efforts, support working capital needs, and expand the distribution network, ensuring Balwaan's continued growth and leadership in the farm equipment industry.
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CEO fraud: For bigger catch, cybercrooks turn pros, go phishing for whales
Phishing attacks have become more sophisticated, with cybercrooks using social engineering to impersonate top corporate executives and trick employees into sending money. Fraudsters are also using artificial intelligence, launching bot-based attacks, and studying social media profiles to craft convincing mails. Akshay Garkel from Grant Thornton Bharat highlighted the need for improved security awareness levels to combat cyber attacks effectively. Educational institutes like IIMs have also faced impersonation scams, leading to the implementation of stricter systems.
Funds make a beeline for beauty platforms; Purplle raises $100 million
ADIA leads a $100-million financing round in Mumbai-based beauty retailer Purplle at a valuation of $1.2-1.3 billion. Creaegis, a PE fund, is expected to join the funding round. MCaffeine, a caffeine-based skincare and haircare brand, is also in the middle of a fundraise process and exploring strategic investors. The funding would be in MCaffeine’s parent firm PepTechnologies, which houses skincare brand Hyphen, along with recent fundraise by Foxtale and Traya.
Singer Halsey reveals she is ‘lucky to be alive’, shares health struggles along with comeback song
Halsey also shared a photo of themselves (the singer uses she/they pronouns) wearing a mask on the initial day of treatment, a text exchange showcasing their newest single, a snippet of them playing acoustic guitar in the dark during the recording of 'The End,' and a montage of emotional moments from their treatment process and the genesis of their new song.
From party ender to party soul: Tequila now fastest-growing alcohol segment in India
Tequila, once a party staple involving a lick of salt, a shot, and a lime wedge, is evolving. It's now sipped neat, on the rocks, with soda, or in diverse cocktails, becoming India's fastest-growing alcohol segment. Sales nearly doubled to 123,000 cases in the last year and have more than tripled since 2019, driven by changing drinking habits and new product launches.
PV Sindhu invests in biofortified staples brand Better Nutrition
PV Sindhu, Indian badminton player, has injected an undisclosed amount in Better Nutrition, a biofortified staples brand from Greenday that offers agri-input services such as biofortified seeds, fertilisers and agronomic practices.
Top startup & tech stories this week
Welcome to a brand new edition of ETtech Unwrapped – our weekend newsletter. The week was packed with important stories broken by our reporters. Here’s a recap if you missed these stories.
New-age consumer brands trend on deal street
Uppercase–a luggage brand started by former VIP Industries MD Sudip Ghose–is in talks with Flipkart-backer Accel to raise new capital, sources told us. This would be the 3rd major deal in the space after Peak XV Partners’ Mokobara investment and Lighthouse’s bet on Safari.
How BrandMusiq is using AI and social media to enhance sonic branding in India
Jingles have always been a favourite way for many brands to make an identity. In the age of social media and artificial intelligence, sonic branding is poised to get better.
Label padhega India: A key step to build consumer awareness
Product labelling in India faces several issues - ranging from non-compliance with the regulations, language barriers, misinformation and misleading claims, inconsistent labelling standards, illegible labels, lack of transparency, inadequate enforcement of the labelling regulations and imported goods not meeting the Indian labelling standards.
FMCG firm PoloQueen ropes in Raveena Tandon as brand ambassador for its home care and kitchen essentials products
PoloQueen appoints Raveena Tandon as brand ambassador to boost kitchen essentials sales, emphasizing brand loyalty for household products like PoloQueen's Shudh range of dishwashing liquid and bar.
Shift towards sustainable packaging is helping companies minimise environmental impact, improve operational efficiency
There is a growing consumer demand that presents a mine of opportunities for businesses to reevaluate business strategies in terms of eco-friendly packaging.
Authorities inspect Everest & MDH units after ban on spices by Singapore & Hong Kong
Indian authorities address ethylene oxide bans on Everest and MDH. Spices Board mandates ETO testing, recalls products. Global ETO limits vary, supply chain and country-specific norms crucial for compliance.
Turnout's turning out all right
Out of the 17 Lok Sabha elections starting from 1951, voter turnout exceeded 60% on only seven occasions. The threshold of 65% was reached only in 2014 and 2019. Despite concerns about declining turnout, the first four phases of the current elections have recorded a turnout of 66.95%. In terms of absolute numbers, 451 million people have already cast their votes. The addition of postal ballots on counting day is expected. If this turnout rate continues in the remaining three phases, 2024 could mark only the third general election to surpass the 65% mark.
Sparking FIRE: How StockGro’s #BFF campaign demystifies the fundamentals of financial freedom and early retirement
Financial freedom is about pursuing passions without financial burdens, intersecting with the FIRE movement for early retirement like FIRERachita. StockGro's #BFF campaign drives financial awareness in India, empowering individuals to achieve financial independence through smart investing and a beginner-friendly platform.
New Zealand looking into Indian spice brands over contamination
New Zealand's food safety regulator to investigate potential contamination in spice products from Indian brands MDH and Everest, following scrutiny in the US, Australia, and Hong Kong for high levels of ethylene oxide, a cancer-causing pesticide. The brands maintain product safety, while Indian regulators conduct inspections and testing. MDH now faces additional challenges with a significant rejection rate of shipments due to salmonella.
Hygiene brand Pee Safe launches chatbot to increase awareness and help shoppers
Pee Safe introduces PeePal, an AI-driven chatbot, to enhance personal hygiene shopping and educate consumers. With the global conversational AI market projected to reach $14 billion by 2025, PeePal aims to personalize the shopping experience and empower users with hygiene knowledge. The initiative reflects Pee Safe's evolution from a single product to a comprehensive personal hygiene brand, addressing diverse consumer needs.
D2C space: Investments in "not my parents' brands" are #trending
Investors like Titan Capital are shifting focus to Gen Z brands, moving away from traditional brands. This trend is visible in brands such as Perfora, Wakefit, Hocco and Mokobara across various sectors, reflecting the changing consumer behaviour towards new and innovative products. The phenomenon of Gen Z consumers not using their parents' brands is visible in even sectors such as automotive and smartphones.
Pad up, there's a brand new deal street in town
Cricketers have signed at least half a dozen endorsement, investment, and collaboration deals during the Indian Premier League (IPL) over the past two-three weeks. MS Dhoni has been signed by nutrition startup Explosive Whey, French carmaker Citroen, and Emcure Pharmaceuticals. Virat Kohli has collaborated with Philips for a limited-edition, co-designed beard trimmer, while Yashasvi Jaiswal has been signed by wearables brand boAt.
About 90% of Indian retail market will remain offline: Accel’s Prashanth Prakash
D2C brands, primarily online-first, consider expanding to offline stores as Indian retail market grows to $2.2 trillion by 2030. Reports highlight the rise of omnichannel firms like Nykaa, Lenskart, and the shift towards omnichannel purchases.
FMCG companies: Buyers aware, sellers beware
FMCG companies face quality issues and regulatory actions, risking consumer trust. Nestle India, Patnajali, Bournvita controversy, and Hindustan Unilever rebrand amidst inflation challenges and omni-channel adoption. While stock meltdown and regulatory action are short-term risks, losing consumer trust is a long-term and bigger risk for an FMCG company.
'Clear Premium Water' secures Rs 45 crore investment by JM Financial
Nayan Shah, founder and CEO of Energy Beverages said, “Pioneering vertical labelling, square-shaped bottles, I demonstrate our commitment to innovation. The capital infusion and partnership with JM Financial Private Equity will help us fast-track our current and future expansion plans’, he said in a media release.
Consumer awareness, social media put healthy snack brands on growth path
However, scaling these businesses beyond the niche markets while staying profitable presents a major hurdle. While their operating revenue might be booming, these brands, which sell products such as chocolate and protein bars, millets and dry fruits-based snacks, granola bars, oats, and breakfast cereal, also widened their losses during the year.
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