ICE CREAM MAKER WALKO
New-age ice cream brand Go Zero scoops up $1.5 million from existing investors
Go Zero will use the fresh funds to boost its growth in the ecommerce and quick commerce sector, and expand its operations in tier-I cities. DSG Consumer Partners, Saama Capital, and V3 Investors, which pitched in with the funds, see the company as having achieved product-market fit and set to scale rapidly.
Human finger in Mumbai ice cream: Injured factory worker under investigation as police make a big breakthrough
A Mumbai doctor found a human finger in his online-ordered ice cream. Police are investigating a factory in Pune linked to the ice cream. The case has drawn significant attention due to its unusual nature and potential implications for food safety standards in India.
Human finger in ice cream: Food safety concerns keep quick commerce companies on their toes
Food safety concerns have intensified for quick commerce companies in recent weeks, particularly after a disturbing incident in Mumbai where a customer discovered a human thumb in their Zepto ice cream order. This incident has brought the issue under greater public scrutiny. Here's a look at the latest episodes in the quick-commerce space.
Ice cream nightmare highlights quick commerce's food safety issues
Food safety has become a concern in terms of quick commerce in recent weeks as a Mumbai customer found a human finger in Yummo brand ice-cream from Zepto. Walko Foods, the owner of Yummo, took the incident seriously and halted manufacturing at the third-party facility. A Blinkit facility in Hyderabad was also raided by food safety authorities.
Human finger fallout: Yummo ice cream off quick commerce shelves
Yummo products removed from Blinkit and Zepto after human finger found in Mumbai. Customer files police complaint. Walko Foods halts manufacturing at third-party facility. NIC brand products still available. Walko Foods raised $20 million from Jungle Ventures. Concerns over food safety with quick commerce platforms growing.
Cola, ice creams sell like hot cakes amid prolonged heat spell
Demand for hydrating products surges in India amid heat wave, with PepsiCo India, CocaCola, and Havmor Ice Cream witnessing increased demand in east, north, and central regions.
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VC funds take a shine to new gen’s D2C brands
Direct-to-customer (D2C) startups founded by scions of traditional business families are raking in venture funding across sectors like food, apparel, and wellness. Investors see these entrepreneurs' deep understanding of the business and connections in the supply chain ecosystems as a recipe for modernising legacy businesses.
Summer product sales surge 40-50% in April as appliance makers worry about shortages
April has been a scorching month for summer products like air-conditioners, refrigerators, air-coolers, soft drinks, and ice creams, with sales soaring 40-50%. This surge has led to concerns among appliance manufacturers about meeting demand, especially in the south and east where sales have spiked 150-200% due to ongoing heatwaves. The north, the largest market for cooling appliances, is yet to experience the full impact of the heatwave. Manufacturers warn of possible shortages in May as component planning did not anticipate such high demand, and it's challenging to expand production on short notice.
Cola, beverage, ice cream makers expect surge in sales as temp soars
Beverages major PepsiCo said summer months are naturally the most favourable season for its category and it is "optimistic" that its portfolio of brands will continue to delight consumers during the period.
Chocoholics Beware: Get ready to pay higher for chocolates, ice creams and cakes as cocoa prices skyrocket in India
The soaring cocoa prices are causing ripples in the chocolate and ice cream industry. Amul considers a substantial hike in chocolate prices due to cocoa bean costs rising to Rs 800/kg from Rs 150-250/kg. However, it plans to maintain ice cream prices. Baskin Robbins also feels the pinch but refrains from immediate price increases. Havmor Ice Cream, anticipating this challenge, aims to uphold current pricing through strategic measures.
HUL may scoop out its not-so-vanilla ice-cream business
HUL exploring selling ice-cream business after making it a separate unit. Ice-cream requires unique manufacturing and distribution. Market competition includes Magnum, Amul, and Kwality. Unilever focuses on similar segments, aiming to improve gross margins.
Kedaara acquires Ice cream maker Dairy Day
Kedaara Capital acquires majority stake in Dairy Day, a prominent ice cream brand in South India. The investment, valued at Rs 1200 crore ($150 million), provides full exit to existing investors. Dairy Day plans to expand production capacity and aims for accelerated growth with Kedaara's support.
Jungle Ventures invests $20 million more in ice cream maker Walko in larger trend
Jungle Ventures invested $20 million in Walko Food, an ice-cream brand and quick-service restaurant company. Investors are focusing on quick capital efficiencies and centralised infrastructure in the food brand sector. Startups with food brands raised significant growth-stage fundings.
One of McDonald's most iconic utensils is being discontinued
In an attempt to lessen the excessive single-use plastic of its massive spindles, which bore an uncanny resemblance to straws, the fast-food business will start serving its soft-serve ice cream delights only with a smaller black spoon. Before being served to customers, the original McFlurry spoon's hollow handle was attached to McDonald's ice cream makers to mix the delicacy. All burger restaurants in the country will use reusable spindles that can be cleaned and replaced by the end of October.
Here is how candy makers in US are preparing for Halloween 2023
Mars Wrigley, the candy maker, is preparing for Halloween with high expectations for candy spending. The National Retail Federation predicts that Halloween candy spending could reach $3.6 billion this year, up from $3.1 billion last year. Despite economic uncertainties, consumers find joy in simple pleasures like Halloween.
Hatsun Agro to explore new overseas markets to boost ice cream biz
Dairy and dairy products maker Hatsun Agro Products has drawn up plans to boost overseas presence of its popular ice- cream range of products, the company said. The company retails a host of products including milk under popular brand Arokya, chocolates, cakes and and ice creams under 'Ibaco' brand among many others. "Ibaco has gone on to become one of the most beloved ice cream brands.
Unilever sees Chinese consumer confidence at 'historical low point'
Unilever, the maker of Dove soap and Ben & Jerry's ice cream, has reported that China's declining property market and exports have led to a historic low in its consumer sentiment, despite earlier predictions of a "consumption boom". Meanwhile, high unemployment and reduced demand for exports have increasingly shifted demand towards Southeast Asian markets. Nonetheless, Unilever's underlying sales growth rose by high single-digits, recovering in the second quarter with double-digit growth.
National Ice Cream Day 2023: Know the best ways to celebrate in the comfort of your home
Every year, National Ice Cream Day is celebrated on the third Sunday of July. This year, the delightful occasion falls on today's date, Sunday, July 16.
Ice-cream maker Vadilal jumps over 14% on reports that Bain Capital is weighing stake buy
According to reports, the US-based investment firm is looking to acquire a controlling stake in the combined entity of Vadilal Industries and Vadilal Enterprises. However, there is no official communication from the company.
Ice cream maker NIC raises $11 million in round led by Jungle Ventures
The fresh funds will be used to expand Walko’s production, enhance its product offerings, and broaden its distribution reach. The company also plans to invest in efficiency management systems, including enterprise resource planning software to strengthen its business operations and support growth.
Heatwave effect: ACs, soft drinks, ice cream, other summer goods in short supply in several markets
Companies are diverting all stock to these markets when summer demand in the overall North is yet to reach its peak. For most companies, sales in the heatwave markets are 2-3 times of last year even when last summer was a bumper one.
Indians developing a taste for ice-creams during winters
While increased consumption of colder food varieties like ice-creams and beverages is commonplace during summer seasons, companies are now reporting that Indians are taking a liking to consume the aforementioned foods during winter seasons as well. The first six months of the fiscal year can account for 60% of annual sales. For some brands, it is higher.
Anand Mahindra is a fan of this woman's unique ice cream machine, posts a 'jugaad' video
The Mahindra Group Chairman was in awe of the budget-friendly innovation.
Holi 2023: Bhang Thandai to Bhang Lassi, try these 6 home recipes on this special occasion
Thandai and Bhang can be paired with a variety of flavours and are extremely popular in the northern states.
Best coffee maker machines under 10000
For a cup of freshly brewed coffee to start your mornings, buy one of these coffee makers under 1000, which are made for coffee enthusiasts. With these coffee makers below Rs. 10000, you can make cappuccinos that are on par with coffee shops.
Bullish fridge, AC, soft drink firms gear up for hectic summer
Most have increased production levels from 40-50 per cent in January to 80-90 per cent in February and plan to ramp up further from next month by adding more shifts or lines.
Ben & Jerry's to stop selling in Palestinian territories
"We have a longstanding partnership with our licensee, who manufactures Ben & Jerry's ice cream in Israel and distributes it in the region," the statement said. ``We have been working to change this, and so we have informed our licensee that we will not renew the license agreement when it expires at the end of next year.''
Packaged snacks, ice cream, beverages and chocolates sales return to pre-pandemic levels
As per their estimates, packaged snacks sales returned to pre-Covid levels in January-February period, while ice-cream sales increased 30% year-on-year during the same period and beverages are up by 10-11%.
Boutique ice cream makers seeing a windfall as they increase engagement with consumers directly
Luckily, the winds turned favourable in August. The business not only went direct-to-ice cream gourmands via its own website but also started selling through more than 100 retail stores. Emoi even found its way into BigBasket, 24Seven and several other big-ticket frozen food aisles.
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