The Indian food market, which is slowly seeing a shift from unorganised to organised, is expected to be driven by the organised segment in the near future. Demand for the organised segment (QSR, dine-in and cloud kitchen) is growing owing to increasing internet penetration, safety and hygiene standards maintained by the players, according to internet-focused consulting firm RedSeer.
Growth drivers
Favourable demographics (including young population and urbanisation)
Higher disposable income
More and better new restaurants (online deliveries and cloud kitchens with higher quality standards)
Customer satisfaction
Cloud kitchens have been able to drive customer satisfaction as well. New brands that have emerged via cloud kitchen models have secured higher customer ratings than established QSR brands
As a result, cloud kitchens are likely to see 5-6x growth in gross merchan- dise value (GMV) to $2-3bn by 2025
FSN E-Commerce Ventures (Nykaa) entered the list of top-50 most valued companies in terms of market captialisation in the country as the stock price of company more-than-doubled against its issue price. The stock hit a new high at Rs 2,349, on gaining 6 per cent on the BSE in Friday’s intra-day trade. With today’s rally, the stock has zoomed 109 per cent against its issue price of Rs 1,125 per share.
At 12:10 pm, with a market-cap of Rs 1.10 trillion, Nykaa stood at 48th position in overall market-cap ranking, the BSE data showed. Today, the company surpassed two-wheelers maker Bajaj Auto and personal products company Dabur India in market-cap ranking. Currently, Nykaa stood behind foodtech major Zomato, market-cap stood at Rs 1.17 trillion, data showed.
On Wednesday, November 10, 2021, Nykaa had made a strong stock market debut, as the shares ended at Rs 2,207, a hefty 96 per cent premium over its issue price of Rs 1,125 per share, on the BSE.
The Rs 5,300-crore initial public offering (IPO) of FSN E-Commerce Ventures, which operates Nykaa, had received strong investor response and was subscribed 82.4 times. The company plans to utilise the proceeds of the fresh issue for improving its brand visibility and awareness, debt repayment, and setting up retail stores and warehouses.
FSN E-Commerce Ventures, more commonly known as Nykaa, is a consumer technology platform, delivering a content-led, lifestyle retail experience to consumers through its diverse portfolio of beauty, personal care & fashion products including their own brand products.
Nykaa is the largest specialty beauty and personal care platform in India in terms of value of products sold in FY21 and one of the fastest growing fashion platforms in India based on growth in GMV. The company has the highest average order value (AOV) among leading online beauty and personal care platforms in India.
Walmart-owned online fashion retailer Myntra, has announced the appointment of Nandita Sinha as Chief Executive Officer, effective January 1, 2020. Nandita will join Myntra from group company Flipkart, where, as vice president, Customer Growth and Marketing, she is currently leading the overall charter for marketing.
As a seasoned leader in the consumer internet space, Sinha has deep expertise in leading businesses, and driving tech-pivoted growth and innovation. During her nearly 8 year tenure at Flipkart, she has worked across multiple roles and categories, including beauty & personal care, books and general merchandise, home and furniture and has built a strong organisation, grooming several future leaders with her exemplary people skills.
She joined Flipkart in August 2013 after stints in Hindustan Unilever Ltd and Britannia Industries Ltd. Before joining Flipkart, she was the co-founder at MyBabyCart.com, an e-commerce site, where she was responsible for driving revenue and customer growth. Nandita brings together a unique combination of deep customer and category understanding, strong business acumen, technology thinking and people leadership. Like her predecessor, Amar Nagaram, who led Myntra as the CEO for nearly three years, in her new role, Sinha will be reporting to the Flipkart Group CEO, Kalyan Krishnamurthy.”
“Myntra is integral to the group as an organisation that leads the charter on fashion, beauty and lifestyle, solving the dynamic needs of the modern fashion-conscious consumer,” said Kalyan Krishnamurthy, CEO, Flipkart Group. “As the forerunner of several innovations and unique consumer experiences, our aspirations continue to grow for Myntra as a separate company. I am certain that with her strong background in driving businesses and an acute focus on customer-centricity, Nandita (Sinha) will be instrumental in defining the next phase of Myntra’s evolution as its CEO.”
Gaming smartphones have usually been on the higher side price-wise, but things are changing now.
It’s not too long ago that iQOO came up with Z3, its mid-range gaming smartphone for those who wanted powerful performance without spending too much on a phone.
Priced competitively at Rs 23,990, iQOO Z5 is neither too expensive nor too cheap for a gaming smartphone.
That said, one of the key highlights of this phone is Qualcomm’s Snapdragon 778G processor, which makes the deal a bit lucrative.
The question is, can iQOO Z5 live up to the expectation of those looking for a smooth gaming experience? Let’s find out in this review.
iQOO Z5: Build quality and design
Looks can be deceptive, and in iQOO Z5’s they are. No doubt the phone looks pretty and premium, but iQOO has cut corners in quality. It doesn’t feel sturdy at all when you hold the device.
Though slippery, the finish on the rear panel keeps
smudges and fingerprints at bay. At 193 gm, it is not lightweight but doesn’t feel heavy either.
China’s biggest online shopping day, known as Singles’ Day on Nov. 11, is taking on a muted tone this year as regulators crack down on the technology industry and President Xi Jinping pushes for common prosperity.
The Singles’ Day shopping festival also known as Double 11 is a massive event for China’s e-commerce companies. Last year, consumers spent $74 billion on Alibaba’s online shopping platforms over the 11 days of the festival. Smaller rival JD.com reported $40 billion in sales during a similar time frame.
Alibaba China’s largest e-commerce firm usually holds a massive gala the night before Nov. 11.
Past galas have featured superstars such as Katy Perry and Taylor Swift and even acrobatic acts by the Cirque du Soleil.
A glitzy live counter starts ticking at midnight to tally in real time how much consumers have spent on Alibaba platforms like Taobao and Tmall. The festival is viewed as a barometer of consumption in the world’s most populous country.
This year, Alibaba has toned down the hype. The Singles’ Day online gala Thursday will be live-streamed due to COVID-19 outbreaks in parts of China. Alibaba says it is focusing on sustainability, supporting charities and inclusivity themes that align with Beijing’s climate goals and Xi’s calls for common prosperity that aims to curb inequality and excessive consumption.
This year’s muted festivities are a perfect storm of economic, competitive and regulatory pressures, said Michael Norris, research strategy manager at Shanghai-based consultancy AgencyChina.
In terms of regulation, e-commerce platforms are coming to grips with how to align consumption extravaganzas with common prosperity’ themes, he said.
Earlier this year, e-commerce platform Pinduoduo pledged to give $1.5 billion in profits to farmers to boost their incomes, while Alibaba has committed $15.5 billion to subsidies for small and medium-sized enterprises and supporting workers in the gig economy, such as delivery drivers, according to local news outlet Zhejiang News.
An upcoming Apple iOS update will allow parents to protect their children and help them learn to navigate online communication in Messages.
The second developer beta of iOS 15 (iOS 15.2) includes support for its new communication safety feature in Messages.
With this update, Apple Messages will be able to use on-device machine learning to analyse image attachments and determine if a photo being shared is sexually explicit, reports TechCrunch.
This technology does not require Apple to access or read the child’s private communications, as all the processing happens on the device.
“It’s a Family Sharing feature for parents to opt in,” the report noted.
If a sensitive photo is discovered in a message thread, the image will be blocked and a label will appear below the photo that states, “this may be sensitive” with a link to click to view the photo.
If a child chooses to view the photo, another screen will appear with more information about sensitive photos and videos.
The new Messages tool comes in the backdrop of child safety features that Apple has delayed following negative feedback.
The planned features included scanning users’ iCloud Photos libraries for Child Sexual Abuse Material (CSAM), Communication Safety to warn children and their parents when receiving or sending sexually explicit photos and expanded CSAM guidance in Siri and Search.
Apple confirmed that feedback from customers, non-profit and advocacy groups, researchers and others about the plans have prompted the delay to give the company time to make improvements.
Chinese smartphone maker OnePlus is gearing up to launch in India the Nord 2 5G Pac-Man Edition. Ahead of the launch, however, the smartphone’s India pricing has been revealed by Amazon on its product listing page. The OnePlus limited edition smartphone will be available at a premium of Rs 3,000 (Rs 37,999) over the standard model (Rs 34,999) of similar specifications.
Speaking of specifications, OnePlus has not confirmed the exact details about the Nord 2 5G Pac-Man Edition but this limited edition smartphone is expected to have the processor, storage and RAM configuration, display, and other specifications same as the top-tier model of the standard edition. The limited edition smartphone would, however, come with Pac-Man inspired skin. Besides, the phone is likely to boot a customised version of OnePlus OxygenOS with Pac-Man inspired themes, wallpapers, animations, and app icons. Additionally, the OnePlus Nord 2 5G Pac-Man Edition would come with the Pac-Man 256 pre-installed that would help user unlock several other Pac-Man related content by completing the in-game challenges – according to a news report in Android Central.
In retrospective, the OnePlus Nord 2 5G was launched in June this year.
This midrange premium smartphone from OnePlus boasts a 6.43-inch fullHD+ AMOLED screen of 90Hz refresh rate. Powered by MediaTek Dimensity 1200-AI system-on-chip, the Nord 2 5G comes in 6GB+128GB, 8GB+128GB and 12GB+256GB RAM and on-board storage configurations. The Pac-Man Edition is expected to come only in 12GB RAM and 256GB on-board storage configuration.
Coming back to the standard Nord 2 5G, the smartphone is powered by 4,500 mAh battery. It ships with OnePlus Warp Charge 65 fast charger. Imaging is covered by a triple camera array on the back, featuring a 50-megapixel primary sensor with optical image stabilization (OIS), 8MP ultra-wide sensor, and a 2MP mono sensor. On the front, the phone sports a 32MP sensor.
Akshay Kumar and Ranveer Singh’s Sooryavanshi has become the first big-budget Bollywood film to be released on the big screen since the coronavirus outbreak. Directed by Rohit Shetty, this action-drama was originally scheduled to arrive in cinema halls in March 2020. But it finally released on November 5th, a day after Diwali, after a delay of 19 months.The long wait, however, paid off for the makers of Sooryavanshi, as the movie released to a resounding response. It grossed Rs 50 crore in the two days of the Diwali weekend and is projected to garner Rs 125 crore in the first seven days. That will be enough for the producers to break even. The movie has also become the biggest opening for Akshay Kumar.The film has already recovered part of the cost by selling digital rights to Netflix and broadcasting rights to Zee Entertainment, apart from its music rights. According to industry estimates, these three rights have been sold for roughly Rs 200 crore.Meanwhile, Tamil superstar Rajinikanth’s Diwali release Annaathe is also breaking records.The film opened to negative reviews from critics but that has not stopped audiences from flocking to theatres to watch the superstar back in action. The film, which features a huge star cast, has collected Rs 50 crore in the first two days and is estimated to have already crossed Rs 100 crore in total earnings.The release of Hollywood film Eternals, the latest instalment in the Marvel Cinematic Universe, is adding variety to India’s big releases after Diwali.
The film experienced a strong weekend collection of about Rs 18 crore in India.But can this festival momentum sustain? Theatres are optimistic about more big releases, hoping they would put an end to their troubles. But some producers are still opting for direct OTT releases, leaving theatre owners displeased. In one such example, all five upcoming releases of Malayalam superstar Mohanlal are releasing on streaming platforms.
Local language social platform ShareChat is betting big on cricket as a sub-category, beginning with the IPL and the International Cricket Council Twenty20 World Cup season.
This will be aided by audio chatroom sessions with well-known players like Virender Sehwag, Ravichandran Ashwin, Gautam Gambhir, Shikhar Dhawan, Ajit Agarkar and Akash Chopra.
Shashank Shekhar, senior director for content strategy and operations, ShareChat and Moj, said interest in audio chatrooms was built through existing cricket-loving communities on ShareChat. “We saw users creating chatrooms around the games during IPL, and they were discussing matches almost on a live basis. There was commentary on what is going right, what is going wrong, and it’s more like watching that match together. They were also analysing the match afterwards. So, this was something that started happening organically,” he said.
The recent CricChat sessions with Virender Sehwag, Shikhar Dhawan, and Gautam Gambhir have witnessed an engagement of over 600,000 users together.
ShareChat built and helped its creators monetise a live audio product called Chatrooms, which was launched in April 2020. It claimed to have over 1 billion minutes of streaming on the platform monthly, as of June.
Shekhar said the platform plans to encourage sports as a category, with cricket, in particular, driving conversations. Among categories popular among chatrooms are people celebrating birthdays together at midnight, running talent shows, and celebrities. These are also driving strong interest on the platform.
Even as India’s leading fintech player Paytm’s IPO is off to a slow start, one of its largest investors, Japan’s Softbank, believes that the company can grow its value going forward.
Softbank chief Masayoshi Son when asked by an analyst, post its Q2 results, if Paytm’s valuation of $20 billion was lower than the firm’s expectation, said, “Valuation-wise, of course, it depends on market condition and investors’ appetite. And I believe that they can grow their value going forward.”
While Paytm is seeking a valuation of around $20 billion, it is much lower than the rumoured expectation of $25-30 billion.
Son added that the Paytm IPO should be a great event for Softbank. “I believe Paytm should grow significantly. I believe that valuation should be bigger than the cost that we spend when we make an investment. So for us, the IPO should be a great event.”
Son also said that monetisation, by either the IPO route or exit through its Vision Fund 2, has almost doubled. In the first six months of this year the company has seen 18 such events.
In India too, Softbank has seen several of its investments such as Policybazaar, Paytm, Delhivery and others, taking the IPO route.
“Not only Paytm, there are other businesses too from which we have high-expectations. So for the year-end and early next year, I’m looking forward to those possibilities. The number of IPOs has been growing. And some make a big hit,” he told analysts.
SoftBank reported a $3.5 billion (397 billion yen) loss for the July-September quarter, a harsh turn from a 628 billion yen profit a year ago in the same period, led by falling valuations in its technology portfolio.
When asked about the recent crackdown by the Chinese government on certain sectors in China, Son said that he is concerned about what’s happening in China, but then Softbank is investing in companies that are into AI. “AI revolution, AI technology related companies are coming up in China. And I hope that and I believe that those companies will grow. In that sense, we will continue to invest in those potential AI related companies in China. I hope that they’re going to grow even further in China.”
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