<ul><li><keyword id="3087465" type="General" weightage="20" keywordseo="burger-singh" source="Orion">Burger Singh</keyword> has raised ₹30 crore in a Series A funding round led by Negen Capital, Lets Ventures and others.</li><li>It plans to deploy the funds to launch an additional 120 food court outlets in the fiscal year 2023.</li><li>Burger Singh launched its first outlet in 2014 in Gurugram, and has added 50 stores in the last two years.</li></ul>Indian burger chain Burger Singh on Thursday said that it has raised ₹30 crore in a funding round led by Negen Capital, LetsVentures, Mumbai Angels, Old World Hospitality and singer Jasleen Royal. Existing investors RB Investments, Rukam Capital, KCT Family Office and V.M. SALGAOCAR family office based in Goa also participated in the Series A round, the company said. Tipping Mr Pink Pvt Ltd, the holding company of Burger Singh, said that the company managed to close the current funding round in 60 days. It plans to deploy the capital to launch an additional 120 food court outlets in the fiscal year 2023. “Our ideology has always been to provide sustainable growth to our investors. Our compelling business model has sailed steadfast through two unprecedented global events - the pandemic and inflation… We would rather be the winning tortoise of the QSR (quick service restaurant) race than the cursory ill-fated rabbit,” said Kabir Jeet Singh, CEO and founder of Burger Singh. Burger Singh launched its first outlet in 2014 in Gurugram, and has added 50 stores in the last two years. The company currently runs a total of 80 outlets across Delhi NCR, Lucknow, Jaipur, Dehradun, Jammu, Nagpur, Ahmedabad, Jhansi, Chandigarh, and Amritsar, among others. “The QSR space in India is a very exciting proposition right now due to the Indian consumption landscape moving to the next stage of evolution. Powered by 360 million millennials and dramatically improved unit-level economics have made the industry very attractive for investors like us who want to invest in high-growth, predictable and profitable startups,” Neil Bahal, founder and CEO of Negen Capital, said. According to a report by ICICI Securities, the low-ticket segment of staple food is struggling due to high inflation as the segment is mostly dependent on the bottom strata for incremental volumes. However, Indians do not seem to have lost their appetite for fast food and QSRs are largely safe from this negative sentiment. SEE ALSO <a href="https://www.businessinsider.in/business/news/itc-is-relying-on-its-advisory-maars-app-for-farmers-valued-added-crops-to-grow-its-agri-business/articleshow/93007505.cms" style="">ITC is relying on its advisory app for farmers, valued-added crops to grow its agri-business</a> <a href="https://www.businessinsider.in/finance/news/fixed-deposits-back-in-vogue-as-crypto-stock-market-get-hit-by-global-headwinds/articleshow/92983763.cms" style="">Fixed deposits back in vogue as crypto, stock market get hit by global headwinds</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rupee-hits-another-all-time-low-of-80-06/-as-dollar-demand-rises-from-oil-importers/articleshow/93019658.cms" style="">Rupee hits another all-time low of 80.06/$ as dollar demand rises from oil importers</a>

Burger Singh raises ₹30 crore, to open 120 outlets in 6 months

<ul class="summary-list"><li>A Burger King franchise owner was ordered to $2.2 million to workers, per the San Francisco Chronicle.</li><li>The sum included $724,000 in unpaid wages, $1.2 million in penalties, and $371,000 in interest.</li></ul>A former Burger King franchise owner has been ordered to pay $2.2 million to 230 employees who said they worked unpaid overtime, the <a href="https://www.sfchronicle.com/food/article/burger-king-wage-theft-17711577.php">San Francisco Chronicle</a> reported. The employees said they often worked through breaks or were denied breaks at the six Burger King restaurants in San Francisco between 2016 and 2019. The owner tried to save on labor costs by keeping the restaurants understaffed, the workers told the Chronicle. Some staff said they had to take on additional duties as a result. Daniel Marini, a former manager, claimed to have suffered a back injury due to overworking, according to the report. The California Labor Commissioner's Office ordered the Golden Gate Restaurant Group, which has since sold or closed the six Burger King outlets, to pay $724,000 in unpaid wages, $371,000 in interest, and $1.2 million in penalties, per the Chronicle. That amounted to just over $9,500 per worker. An investigation was opened into Golden Gate's Burger King franchises in 2019 and a decision reached the following year that was appealed. A hearing was then held last spring, where the workers and Gold Gate owners testified. According to the Chronicle, the investigation uncovered records such as time card reports that supported the workers' claims and that Golden Gate "falsified" forms to indicate that the workers had taken breaks when they did not. Golden Gate's owners, Monu Singh and Harkiran Randhawa, are personally being held accountable for the payments, per the report. Their lawyer, Colin Calvert, told the newspaper the restaurants "were not intentionally understaffed" or that staff were denied breaks. The owners plan to appeal the ruling again. Calvert added that the Labor Commissioner's investigation was "poorly executed" with "glaring errors," per the Chronicle. A group of workers at a Burger King restaurant in Nebraska <a href="https://www.businessinsider.com/burger-king-we-all-quit-sign-viral-workers-labor-shortage-2021-7?r=US&amp;IR=T">resigned in July 2021</a> over working conditions. One former employee said at the time that they worked in the restaurant when the air conditioning was broken for weeks and that it was understaffed. Another worker had its store sign temporarily display a message that read: "We all quit. Sorry for the inconvenience." Burger King told Insider that its franchisee was "looking into this situation" and the incidents that were alleged to have taken place at the restaurant were "not in line with our brand values." Calvert and Burger King did not immediately respond to requests for comment from Insider.

Burger King franchise owner ordered to pay $2.2 million to 230 workers for unpaid overtime, report says

<ul><li>The new guidelines by the Food Safety and Standards Authority of India state that restaurants will have to mention the calorific values on menu cards, boards or booklets. </li><li>Food aggregators like Zomato or Swiggy too have to comply with these new rules.</li><li>However, restaurant owners feel that this move is “uncalled for,” especially since it comes at a time when they are already struggling to recover from the COVID-19 pandemic.</li><li>While they are being introduced in India for the first time, similar laws already exist in countries like the US and the UK. </li></ul>Fast-food chains like McDonald’s, KFC, <keyword id="33542" type="COMPANY" weightage="20" keywordseo="Burger-King">Burger King</keyword> have already been forced to follow “calorie labelling” in several countries, including the US, and now they might have to add the numbers on their menus in India as well. The new guidelines issued by the Food Safety and Standards Authority of India (<keyword id="154680" type="ORGANIZATION" weightage="20" keywordseo="FSSAI">FSSAI</keyword>) state that restaurants or cafes with a central license or with more than ten outlets will have to mention the calorific values on menu cards, boards, or booklets. “Additionally, reference information on calorie requirements shall also be displayed clearly and prominently as an average active adult requires 2,000 kcal energy per day, however, calorie needs may vary”, said the guidelines. While players like Rebel Foods, the cloud kitchen company which operates chains like Faasos, Behrouz Biryani has always sworn by quoting the calorific value and defining the contents of the food served, as a customer-first approach, many other restaurant chains like Mamagoto, Chaayos, Wow Momos among others could soon have to deal with the calorie fight. And food aggregators like Zomato or Swiggy aren’t spared from the same as the new guidelines for labelling apply to e-commerce food business operators as well as the packaged food industry. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Arguments in favour of calorie labelling </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Arguments against the calorie labelling </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Customers can make a more informed decision – they want to know what they are consuming. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Customer consumption patterns won’t change – "a butter chicken will still be preferred over a salad". </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">India won’t go the Western way – will keep a check on obesity. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Marketing costs like new menus will be a burden for the already battered industry. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Food service establishments will develop cautious brand building practices across the board, guaranteeing quality output. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Standardization is not possible with Indian food, where chefs still have their own andaaz (style) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Restaurants fear harassment in the name of regulatory monitoring. </td></tr></tbody></table> Gurbaxish Singh Kohli, Vice President of the Federation of Hotels and Restaurant Association of India (FHRAI) says labelling the <keyword id="31991" type="PERSON" weightage="20" keywordseo="calorie-count">calorie count</keyword> on menu cards might not directly impact restaurants, but it’s uncalled for. “What is the mindset behind this? Will people come, read the calorie count and then leave the restaurant? Or instead of butter chicken they are going to order a salad?,” Kohli told Business Insider. The FHRAI has already written to the FSSAI, giving its inputs regarding the new guidelines. While Kohli said that he doesn’t disagree with the norms, it shouldn’t come as a mandate. “If the FSSAI wants to do this, it should be voluntary. In a period where we are already hit so badly, putting up these new norms… I would call it irrelevant,” said Kohli. Pradeep Shetty, the Sr Vice President of The Hotel and Restaurant Association of Western India said, “The intention of the FSSAI is noble, they want to bring down the trans fat. They don’t want India to go the way many western countries have. They aren’t prohibiting people from eating, but just to make an informed decision.” The standardization could still work for restaurants with a limited standard menu across the country – chains like McDonald’s, KFC, Dominos, among others. But it’s not going to be the same story for the very ‘Indian’ restaurants. Restaurants in India don’t have just one problem with the new labelling guidelines – in fact, the issues are going to be multifold. Kohli explained that having the new labelling guidelines means printed new menu cards leading to new marketing expenses, which are uncalled for. Moreover, the food at Indian restaurants is more often than not customised, which means customers have demands like “extra butter” or “make it with olive oil”. “That addition or deletion of butter makes all the difference in the calorific value. What we fear is more harassment for a sector that is already harassed,” he said. Counting the calories: The new global norm? Placing the calorie count on menu cards isn’t just a norm being introduced in India. It is already enforced in countries like the US and the UK as a measure to control obesity, albeit questionably. In fact, in the US a law was passed in 2018 that stated that any restaurant with 20 or more outlets will have to state the calorie count of its food items. Researchers at the Gerald J. and Dorothy R. Friedman School of Nutrition Science and Policy at Tufts University and Harvard TH Chan School of Public Health <a href="https://www.businessinsider.in/science/news/the-us-law-requiring-calorie-counts-on-menus-is-expected-to-save-tens-of-thousands-of-lives-and-over-10-billion-in-healthcare-costs-research-shows/articleshow/76324413.cms">conducted a study</a> that showed that such a move would produce $10-14 billion in healthcare cost savings and another $3-5 billion in societal cost savings. In India too, many brands have been following the standard of adding calorie count on menus even before it was a norm. “The customer today wants to know what they are consuming, how safe it is, where the produce came from, and so forth. To help with all these, it becomes essential for brands to help consumers with the required information, to keep their faith in the food they consume, and thereby, the brand. This will also develop cautious brand building practices across the board, guaranteeing quality output,” said Sagar Kochhar, Co-founder, Rebel Foods. While the policy has a long way to go, it poses another problem as well – how will the government keep a check on restaurants across the country. “That also means that restaurants will have to hire an expert to keep a check or define the calorie count, which is another added expense,” said Shetty. SEE ALSO: <a href="https://www.businessinsider.in/science/environment/news/supercomputer-shows-tropical-cyclones-hitting-india-are-going-get-more-destructive-that-is-until-the-flooding-starts/articleshow/79764803.cms">Supercomputer shows tropical cyclones hitting India are going get more destructive — that is until the flooding starts</a> <a href="https://www.businessinsider.in/stock-market/news/burger-king-ipo-investors-tripled-their-money-in-three-days/articleshow/79761366.cms">Burger King's IPO investors tripled their money in three days</a>

India has a hot new debate on its plate: Should the likes of Burger King, KFC and McDonald’s menus mention calories?

<img class="gwt-Image" src="/photo/49944563.cms" /> 
 <keyword id="33542" type="COMPANY" weightage="100" keywordseo="Burger-King">Burger King</keyword>, world's second-largest burger chain, which debuted in India last year is having a tough time handling all the trademark cases involving similar names or logos. The defendants range from pushcarts to plush food joints in different cities. 
 
While in some cases, the effort has paid off, some cases are still pending in courts. To name the success, Mr Singh Burger King, which is a street vendor based in Ludhiana changed its name to Mr Singh Food King, citing lack of financial resources to fight the legal battle. Similarly, another restaurant called Burger King, based in Varanasi changed its name to Taste King after a Delhi High Court injunction. 
 
Burger King Corp., based in Miami, has opened 33 outlets in India, in a joint venture with Everstone Capital. In the past two years, it has filed trademark cases against at least six Indian operators in the Delhi High Court , out of which three are still pending, as stated by records on the court website. 
 
Another noticeably similar name for Burger King is Burger Singh, based in Gurgaon, which recently mopped up an angel investment funding of Rs 2.2 crores. 
 
<a href="http://www.media4growth.com/images/news/2014-11-25/1532577179.jpg">Image source</a>

All's in the name for Burger King; in legal battles against Indian food joints with similar names

<ul><li>Campa is targeting the growing market of downtraders by pricing its soft drinks attractively. </li><li>When you are drinking a cola, you are not just consuming a soft drink, you are consuming a branded experience, says Ambi Parameswaran, branding guru and author. </li><li>Campa has to get its distribution right and match the width of distribution that other colas have today, says Harish Bijoor, branding expert. </li></ul><keyword id="15793554" type="General" weightage="20" keywordseo="reliance-consumer" source="Orion">Reliance Consumer</keyword>’s Campa Cola relaunch at an invitation price of 200 ml at ₹10, and 500 ml at ₹20 – is clearly aimed at taking on rivals Coca-Cola and Pepsi head-on. Reliance is a master at disrupting existing categories with its entry level pricing and innovative marketing models. Just recall the launch of Jio’s high speed broadband mobile services in 2016 for free. The <a href="https://www.businessinsider.in/retail/news/reliance-brings-back-the-iconic-campa-beverage-brand/articleshow/98520789.cms">launch of Campa-Cola</a> is right not just from the season point of view but also because the <a href="https://www.businessinsider.in/finance/article/inflation-burns-a-hole-in-the-pockets-of-indias-lower-income-households-from-fmcg-goods-flip-flops-to-crackers-consumption-takes-a-backseat/articleshow/95536971.cms">heat of inflation has burned a hole </a>in the pockets of Indians. In the last six months, many Indians, both rural and urban, have been hit by high inflation and have been downtrading – that’s shifting to cheaper brands or even going for unbranded products. The FMCG market is in the most price-sensitive state it has even been in the last few years. Campa is targeting this growing market of downtraders, at a price that’s almost half of what other cola brands offer. “Yes, it caters to this trend,” agrees Harish Bijoor, founder of a consultancy firm, Harish Bijoor Consults, adding, “There is relevance for a lower-priced cola – a local cola with a friendly price versus an MNC cola with MNC prices.” “Penetration pricing can boost Campa’s traction among the price-sensitive Indian masses, especially in the rural markets. The aggressive pricing will magnify the impact of the relaunch amid the cost-of-living crisis, as 68% of Indian consumers are extremely concerned about the impact of inflation on their household budget,” says Bobby Verghese, consumer analyst at GlobalData. Price matters, but brand matters too Ambi Parameswaran, branding guru, author, and the former head of FCB Ulka, however, believes that it’s hard to beat established brands like Coca-Cola and Pepsi with a pricing strategy alone. “When you are drinking a cola, you are not just consuming a soft drink, you are consuming a branded experience. There have always been lower priced and local colas in the market but they found limited success. They (Reliance) will have to bring in celebrities and invest big money in marketing,” he adds. Reliance has launched Campa across three different flavours – cola, lemon and orange — which covers the entire gamut of soft drinks. “They launched one unified brand across flavours and that might work,” opines Parameswaran. Reliance also went with the slogan ‘The Great Indian Taste’ as it relaunched an iconic brand Campa which was once competitor to Parle’s Goldspot, Thums Up and Limca – the last two ended in the kitty of Coca-Cola, which made its comeback in the ‘90s. Campa, however, could not withstand the growing competition of Pepsi and Coca-Cola, and shut shop in 2000-01. After it was acquired in August last year, it’s Campa that now has a moneyed backer with marketing muscle and a giant retail footprint of 17,225 stores, offline. Reliance also retails groceries and more online and launched sales via WhatsApp six months back. It also owns a stake in Dunzo – a quick commerce retailer. “Reliance can also leverage its own offline retail and e-commerce stores to quickly narrow the gap with Coca-Cola and PepsiCo’s nationwide distribution networks and bolster Campa’s market penetration. In terms of pricing, Reliance Consumer can go toe-to-toe with multinational operators,” said Francis Gabriel Godad, business development manager, GlobalData India. Where is the footprint? Yet, the cola market is like no other FMCG brand. With the need for refrigeration and a rock solid distribution channel that Coca-Cola and Pepsi have built for years – this might be a tough act to follow if not break. “It’s not just pricing. They have to get distribution right and match the width of distribution that other colas have today. Colas retail differently – most of them are sold out of kirana stores, dhabas and others,” explained Bijoor. Reliance Retail’s footprint can drive the sales of large soda packages. “At home consumption only contributes to 20% of cola sales. The rest is purchased on-the-go,” says Parameswaran. Moreover, Pepsi and Coca-Cola have built their empires on the theory of exclusivity. For example, McDonald’s retails Coca-Cola (only) at its outlets and Burger King goes with Pepsi. In India, these brands have ‘owned’ dhabas and small-time restaurants where either of the brands’ products are retailed extensively. Since this is where most Indians eat, it also helped them make colas a part of Indian meals which matches with biryanis as easily as it does with burgers. Thanks to extensive marketing campaigns, they penetrated rural markets, killed local goli soda businesses and have become the ‘thanda’ of choice. Colas and cricket The third dimension of the cola business after price and distribution, is the ‘taste’. Even today, Thums Up is perceived as the ‘strong’ cola, with the other two colas close behind. Bijoor and Parameswaran say that with colas, it’s more about the brand than the taste and few people can recognize cola brands in a blind tasting. Yet, consumers tend to buy the brand they feel they like the most. Godad says that Campa can build a similar recall as it announced plans to launch an intensive marketing campaign at the Indian Premier League (IPL) 2023 – the cricket tournament with a viewership of over 200 million. This too is a page out of Pepsi’s playbook which has had popular brand ambassadors among cricketers like Sachin Tendulkar and more. At one point in time, it even engaged almost all of the Indian cricket squad to the 2003 world cup in South Africa including Sourav Ganguly, Rahul Dravid, Harbhajan Singh and more in its ads. Reliance Consumer intends to bring similar energy into its marketing. “Reliance’s branding activity during the (IPL) event will thereby amplify Campa’s mass-market awareness in the cricket-loving nation. Moreover, as the official sponsor of the popular ‘Mumbai Indians’ IPL team, Reliance Group can rope in popular cricketers as brand ambassadors. This is a powerful marketing strategy given that endorsements by celebrities or organizations are an essential feature that 29% of Indians actively look for when purchasing products, according to GlobalData’s 2022 survey,” says Godad. In addition to all, Reliance is also not building a ‘new brand’ either, it is bringing back an old brand with nostalgia value that still rings a bell with Gen Xers and millennials — that’ll send at least a few to try a brand they once loved. SEE ALSO <a href="https://www.businessinsider.in/business/news/millennials-want-the-security-of-their-own-roof-over-heads-finds-cbre/articleshow/98120129.cms">Millennials want the security of their own roof over heads, finds CBRE</a> <a href="https://www.businessinsider.in/business/news/healthcare-consumer-goods-minted-the-most-indian-dollar-billionaires/articleshow/98913863.cms">Healthcare, consumer goods minted the most Indian dollar billionaires</a>

Campa has to go beyond invitation price to build the brand & distribution network

<keyword id="70910" type="General" weightage="50" keywordseo="hyundai-motor" source="Orion">Hyundai Motor</keyword> said on Thursday that its second-quarter net profit jumped 56 per cent from a year earlier on improved product mix and a weak won. Net profit for the three months ended in June rose to 3.08 trillion won (US$2.34 billion) from 1.98 trillion won during the same period of last year, the company said in a statement. In the six-month period, <keyword id="596" type="General" weightage="100" keywordseo="hyundai" source="Orion">Hyundai</keyword> sold a total of 1.88 million vehicles, achieving 43 per cent of its sales target of 4.34 million units for the year. The second-quarter bottom line was buoyed by increased sales of Hyundai's independent brand Genesis models, decreased incentives and the won's weakness against the dollar, reports Yonhap news agency. The dollar rose to an average of 1,259.57 won in the <keyword id="6471809" type="General" weightage="20" keywordseo="Second-quarter" source="Orion">second quarter</keyword> from 1,121.23 won a year ago, according to the Bank of Korea. Such factors helped offset the carmaker's production losses derived from a prolonged chip shortage and disruptions of parts supplies, Hyundai said. Looking ahead, Hyundai said higher raw materials prices resulting from the Russia-Ukraine war, a resurgence of the Covid-19 pandemic and inflation amid rising interest rates will remain uncertainties for the automobile industry. Operating profit soared 58 per cent to 2.98 trillion won in the June quarter from 1.89 trillion won a year ago. Sales were up 19 per cent to 35.99 trillion won from 30.33 trillion won. From January to June, net profit climbed 39 per cent to 4.86 trillion won from 3.50 trillion won in the year-ago period. Operating profit also jumped 39 percent to 4.91 trillion won in the first six months from 3.54 trillion won. Sales gained 15 percent to 66.29 trillion won from 57.72 trillion won. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/burger-singh-raises-30-crore-to-open-120-outlets-in-6-months/articleshow/93021975.cms">Burger Singh raises ₹30 crore, to open 120 outlets in 6 months</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/tesla-boss-elon-musk-holds-on-to-dogecoin-after-the-company-sells-75-of-its-bitcoin-capital/articleshow/93019498.cms">Tesla boss Elon Musk holds on to Dogecoin after the company sells 75% of its Bitcoin capital</a>

Hyundai sells 1.88 mn vehicles in first 6 months, Q2 profit jumps 56%

<ul><li><keyword id="6376684" type="General" weightage="20" keywordseo="nykaa" source="Orion">Nykaa</keyword> launches an incubator programme to help potential <keyword id="3152024" type="General" weightage="20" keywordseo="beauty-startups" source="Orion">beauty startups</keyword> with finance and guidance to grow bigger in the space.</li><li>Brands are to participate in the programme and showcase their brand value and the winning brand will earn a grant of ₹4 crore ($500,000).</li><li>A set of judges including actress Katrina Kaif, designer Sabyasachi Mukherjee, stylist Anita Shroff Adajania will be in the jury judging and mentoring the potential beauty brand.</li></ul>India’s largest beauty e-commerce player, Nykaa has come up with an initiative to support some of the many beauty startups and help build homegrown brands. Nykaa’s new incubator programme allows beauty startups in the country to showcase their brand and earn a grant of up to ₹4 crore ($500,000) and even an acquisition opportunity in the future. On July 20, Nykaa launched ‘Beauty&amp;You’ in partnership with American beauty giant <keyword id="162216" type="General" weightage="20" keywordseo="estee-lauder" source="Orion">Estee Lauder</keyword> with a prize pool of ₹4 crore that will be distributed among companies chosen by a panel of fashion entrepreneurs. “We are looking for brands that have innovative ideas and have a sustainable competitive edge and that would be unique products, unique technologies, engaging with new audiences in different ways, creating new business models, offerings, channels.” Shana Randhava, vice-president, ELC New Incubation Ventures told Business Insider India. Nykaa said that it’s not keen on taking equity in the winning startups in return for the grant amount, but they could. “There’s a chance that we may invest in these brands but that is not the aim of the programme. The aim is to give them a pure grant of capital without any equity in return. The awarded brands will get the ability to launch on Nykaa’s platform and stores if they are ready for that,” said CEO of the e-commerce giant Nykaa and son of founder Falguni Nayar Achint Nayar. The programme aims to help founders, innovators, and creators grow their businesses holistically by identifying brand goals, achieving scale ambitions, and curating product portfolios that speak to a new generation of consumers in the Indian market. A set of judges including actress Katrina Kaif, designer Sabyasachi Mukherjee, stylist Anita Shroff Adajania will be in the jury judging and mentoring the potential beauty brand. Shana said that they are looking for brands like Haeckel's, a UK based personal care brand whom Estee Lauder recently invested in. “Our vision is for Beauty &amp; You to harness the entrepreneurial energy in India to advance next-generation beauty brands by presenting opportunities that help put brands on a long-term, sustainable growth path,” said Randhava. It has not decided on how many winners will be declared, it could be one or even four. The chosen startup brands will be provided with masterclasses, financial support, mentorship, awareness and distribution support. The application process starts on August 1 on <a href="https://www.beautyandyouawards.com/">this website</a> and closes on September 30, and winners to be announced in November. “Brands participating should have passion and the rest we can help with. We have infrastructure to help them build and develop on that,” Achint Nayar, Nykaa, CEO. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/burger-singh-raises-30-crore-to-open-120-outlets-in-6-months/articleshow/93021975.cms">Burger Singh raises ₹30 crore, to open 120 outlets in 6 months</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/itc-is-relying-on-its-advisory-maars-app-for-farmers-valued-added-crops-to-grow-its-agri-business/articleshow/93007505.cms">ITC is relying on its advisory app for farmers, valued-added crops to grow its agri-business</a>

Nykaa open to funding beauty startups without equity, initially

New Delhi, Dec 6 () Incredible Technologies Private Ltd (CredR) on Friday said it has raised Rs 38 crore (USD 6 million) from Omidyar Network India and its existing investors. 
 CredR is India's largest used motorcycles consumer brand that integrates online and offline user buying experience through a chain of over 50 CredR franchisee showrooms across Pune, Bengaluru, Delhi-NCR, Jaipur, Kota and Hyderabad, the company claimed in a release. 
 Prior to this funding round, the company had raised funds from Eight Roads Ventures, AngelList, GrowthStory, Angel investors and venture debt from Blacksoil capital, it added. 
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* Tipping Mr Pink launches cloud kitchen firm Bowl Hub. 
 Tipping Mr Pink, the parent company of quick service restaurant (QSR) chain Burger Singh, on Friday announced launch of its first cloud kitchen QSR - Bowl Hub. 
 Bowl Hub brings a menu consisting mainly of rice bowls, the company said in a release. 
 Launching 17 outlets across Delhi, Gurgaon and Noida, Bowl Hub becomes one of the first few single-serve bowl meal brands in the region for urban millennials and office goers, it said.
 "For the last few months, we had been incubating the brand out of some of our existing cloud kitchens under a different project name. This was to validate our recipes, taste, customer expectations and also to measure the unit-level economics that would work for us in the long run," Tipping Mr Pink founder Kabir Jeet Singh said. 
 KPM KRH 
RVK

CredR raises Rs 38 crore from Omidyar Network, others

By Gurdip Singh Singapore, Apr 12 () Fifty-nine Indians working in Singapore are among the 233 new coronavirus cases reported on Sunday, taking the total number of COVID-19 patients in the city-state to 2,532.Of the new cases, 51 are linked to known clusters while 15 to earlier cases.The remaining 167 have no links to earlier cases, pending contact tracing, the Health Ministry said in its daily update.Seven new clusters, or common places of gatherings, were found, including one linked to the Black Tap restaurant at a five-star casino-resort complex, Marina Bay Sands. Burgers and milkshakes restaurant Black Tap is linked to eight cases and McDonald's is linked to five infections.Thirty-one of the 976 patients still in hospital are in critical condition in the intensive care unit while most others are stable or improving.There are 988 cases who are clinically well but still tested positive for COVID-19. They are being isolated and cared for at community facilities, said the ministry.The death toll stands at eight.Four additional cases are linked to the Indian-origin mega store Mustafa Centre, taking its total to 82.The number of work permit holders working in Singapore and dormitory-related cases has increased sharply and this is likely to go up, "especially as we undertake more aggressive testing in dormitories", said the ministry. Authorities further tightened circuit breaker measures to control the spread of the deadly disease, recommending that commuters wear masks on public transport and closing all beaches.Markets will also refuse entry to people not wearing face masks and food outlets will face fines if their workers do not wear masks or face shields.During the circuit breaker period, which lasts from Apr 7 to May 4, Singaporeans are to leave their homes only for essential activities such as buying food and groceries. GS CPS

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