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Category: MAM

  • 7 Ring, a hassle-free technology for contactless payment

    7 Ring, a hassle-free technology for contactless payment

    Mumbai: Seven is thrilled about their premium product;  7 Ring, an innovative and stylish smart wearable ring that redefines convenience and elegance in the world of digital payments. Crafted from premium Zirconia Ceramic material, the 7 Ring effortlessly combines sophistication with durability, making it the perfect companion for the tech-savvy and fashion-conscious consumer.

    Designed to complement your lifestyle, the 7 Ring is not just a fashion statement but a powerful payment device. With its seamless and hassle-free payment technology, users can effortlessly make transactions, from their morning coffee to their evening cocktail, with a simple tap. The 7 Ring’s contactless payment feature enables users to make secure payments without the need for a wallet, phone, app, pin, or OTP, revolutionising the way transactions are made.

    Notably, 7 Ring is engineered with the latest NFC technology, ensuring a seamless and reliable connection without the need for Bluetooth. Furthermore, its dustproof and waterproof features make it suitable for everyday wear, enabling users to embrace an active lifestyle without compromising on style or functionality.

    The 7 Ring comes in seven different sizes, providing a comfortable and customized fit for all users. Its exceptional scratch resistance ensures long-lasting beauty and functionality, making it an ideal accessory for daily wear. Managed by an easy-to-use app developed by 7, users can enjoy a safe and smooth transaction experience, empowering them to embrace a more convenient and secure payment lifestyle.

    “We are very excited to talk about our new innovation as 7 Ring is the first of its kind in India, offering a seamless and secure payment experience to our customers,” said Seven CEO & founder Vijay Khubchandani “With its chic design, durability, and convenient payment capabilities, 7 Ring is the perfect blend of style and technology, catering to the needs of modern consumers.”

  • 2023 digital growth in Indian banking & finance sector: Performics India’s industry report

    2023 digital growth in Indian banking & finance sector: Performics India’s industry report

    Mumbai: Performics India, part of Publicis Groupe India has launched its banking & financial services round-up report 2023. The report reflects on the digital-led growth and potential of the Indian Banking and financial services sector. The digital-led growth of the Indian banking sector in 2023 has been profound, and Performics India’s report offers valuable insights into the factors driving this change, as well as the challenges and opportunities it presents.

    The report underscores the role and significance of digital transformation in propelling the banking sector. With an ever-evolving demographic profile, banks are now compelled to meet the expectations of a new generation that is inherently digital-centric. As fintech companies continue to offer alluring products and services, traditional banks have intensified their efforts to remain competitive in this dynamic landscape.

    The report summarizes the remarkable digital journey of India’s banking and finance sector driven by innovative financial products (e.g. BNPL, payments), the emergence of new market players, heightened fintech adoption, and improved financial literacy. This growth has been further catalysed by the rapid surge in digitalization, establishing digital as the primary medium for educating and engaging with the masses. This aspect is corroborated by an analysis of trends in organic search intents across various financial products. The report also identifies interesting trends within the banking and financial services industry such as open banking, voice banking, personalised banking, search trends, Generative AI, the rise of  ‘Finfluencers’ and regulatory mechanisms for them.

    It further highlights the key drivers of Digital Transformation and the growing acceptance of digital payment methods and how it is driving the growth of the banking sector. The report highlights a remarkable shift, 93 per cent of payments in the past year were executed digitally, with QR code transactions surpassing traditional card and cash transactions. The rising trend of biometric payments indicates a growing trust in biometric technology, with consumers increasingly favouring it over traditional cards and devices.

    Lastly, the report explores Regulatory Updates and Ethical Practices and its impact on the banking sector, emphasizing the importance of bills like the Digital Personal Data Protection Bill and AI regulation in India. These regulations aim to enhance data protection and promote ethical use of AI, safeguarding the interests of both consumers and financial institutions.

    Speaking about the report Performics India CEO Lalatendu Das shared “As the financial services sector undergoes profound transformations, the imperative for digital transformation has never been clearer. The Digital Personal Data Protection Bill and other regulatory measures underscore the importance of safeguarding consumer data in this digital age. Open banking, personalization, and generative AI promise to revolutionize how we engage with our customers, making their financial experiences more personalized, efficient, and secure. With growing competition and dynamic customer expectations, it is important for brands to remain at the forefront of these trends and ensure top-notch services and products. Performics India’s BFS roundup report highlights some key updates and insights from the year 2023, equipping our clients with valuable insights to understand the past year’s trends and strategize effectively for the upcoming year.”  

    Performics India VP banking and financial services Cyrus Shroff further added, “As we stand on the cusp of an exciting era in the Indian banking and financial sector, the ‘Digital Transformation in the Indian Banking & Financial Sector – Roundup Report’ by Performics India serves as an illuminating guide through the shifting landscape. In an age where digitalization has become paramount, this report showcases the dynamic journey of the sector, driven by innovative products, fintech adoption, and evolving consumer expectations. The Indian banking and financial sector stand at the precipice of remarkable change, and this report offers a valuable compass for all stakeholders to navigate this transformative journey.”

    Performics

  • 54 per cent of Indian consumers prefer hybrid shopping for festive season: InMobi’s festive report

    54 per cent of Indian consumers prefer hybrid shopping for festive season: InMobi’s festive report

    Mumbai: Close to the heels of the upcoming festive season, InMobi, a leading provider of marketing and monetisation technologies, has unveiled key insights from its annual festive trends report. The Marketer’s Guide to the Festive Season 2023 for India delves into the mushrooming trends in buying behavior during the festive period, highlighting their potential to mold digital marketing strategies for brands.

    The report highlights that 54 per cent of respondents will engage in hybrid shopping, combining online and offline methods. Furthermore, 84 per cent have increased their online shopping budgets compared to last year. Among the women surveyed, 68 per cent see themselves as the main decision-makers for festive shopping, prioritising personal needs first, followed by family and business associates.

    InMobi conducted an extensive survey with more than 1,000 Indian mobile users to gain insights into their festive spending intentions and preferences. The resulting insights are a valuable resource for brands looking to refine their festive marketing strategies. Shedding light on the burgeoning spending patterns and shifting preferences of Indian consumers, the report also unveils other significant findings:

    1,   Budgets look bright as 84 per cent of Indian consumers reported an increase in online shopping budgets compared to the previous year.

    2.   Reduced price consciousness leads to an interest in exploring options as 63 per cent said that they know what item to buy and are only left to finalize the brand of their choice.

    3.   The festivities are phygital as 54 per cent of respondents prefer hybrid shopping, combining online and offline methods and 44 per cent said they would shop online only.

    4.   Unplanned shoppers are inclined to shop closer to festivals. 58 per cent planning to shop around Dusshera and Diwali, whereas about 1 in 3 shoppers are looking to start as early as September.

    5.   Mobile reigns over India as the most popular channel for Indian consumers as they Learn (46 per cent), Explore (79 per cent) and Buy (78 per cent) making it an essential part of their purchase journey

    “The essence of India’s festive season is rooted in traditions, cultures, and the emotions they evoke. The months leading up to the festivities, especially around Dussehra and Diwali, are significant for brands, as most shopping explorations and purchase decisions occur during this time,” said InMobi chief business officer of the consumer advertising platform Vasuta Agarwal. “With 78 per cent of consumers planning to shop on their smartphones, mobile is the most crucial channel for brands this festive season, making it imperative for them to embrace a mobile-first approach in their marketing strategies. This approach will enable an authentic connection with the Indian festive shopper of 2023,” Vasuta added.

    In India, festive celebrations span from September to the end of the year brimming with uninterrupted shopping activities. Most respondents have reported that they will start learning about brands and products and exploring different choices available for festive shopping in September. Notably, a substantial 66 per cent of them plan to allocate a budget between ₹25,000 to ₹50,000 towards their festive purchases.

    The report unveiled significant findings, categorising three distinct buyer personas based on shopping behaviors and preferences. 19 per cent of festive shoppers fall into the Unplanned Shoppers segment, making buying decisions between Dussehra and Diwali. Among the festive shoppers, 63 per cent are category explorers, who have already initiated research to refine their brand and product preferences for purchase. The remaining 18 per cent are classified as brand lovers, characterised by the highest budget for festive shopping.

    “Over the past year, we have witnessed a wide array of brands harness and leverage the potential of the smart lock screen to drive relevant engagement with connected consumers. A classic example is that of Coca Cola where the brand leveraged Glance’s smart lock screen to enable their consumers to send hyper-local personalized festive invites to their friends and families, which could be customized and delivered in any language of their choosing. Similarly, Zomato and Kuku FM too leveraged the festive season to drive better engagement with their consumers via the smart lock screen to great success.” Vasuta further added. “As this festive season is fast approaching, Glance will indeed play a substantial role in helping brands fortify their digital footprint and spark connections with consumers across India.”

    To learn about other unique festive shopping trends and uncover the strategies for your brand, download your copy of The Marketer’s Guide to the Festive Season Report 2023 by InMobi.

  • MCA announces Fact Checking Network (FCN) for India

    MCA announces Fact Checking Network (FCN) for India

    Mumbai: The Misinformation Combat Alliance (MCA) is proud to announce the framework for an independent Fact Checking Network (FCN) – our initiative to develop self-governing standards and best practices for fact-checking organisations in India, enabling them to become trusted partners in the fight against the weaponisation of misinformation and disinformation.

    It is no secret that the spread of misinformation and disinformation online (often clubbed under the moniker of “fake news”) has become one of the most significant challenges of the modern age. Countries around the world are grappling with the difficulties of addressing this challenge, as are social media platforms, messaging services and other intermediaries which have found themselves the battlegrounds of an ever-evolving war between truth and falsehood.

    In recent years, fact-checking organisations have been stepping up to the challenge, helping average citizens understand the dangers of false and misleading information, and how they can be vigilant to avoid falling prey to them. India has been no exception to this phenomenon, and indeed is now home to the largest fact checking community in the world.

    This is a diverse and vibrant community, which has honed its ability to effectively communicate with the diverse and vibrant people of India, no matter which language, and no matter which format, is required for the job. It is therefore an ideal partner for civil society, tech platforms and the government in their efforts to tackle the problem of misinformation and disinformation.

    Given this increasingly important role for the Indian fact-checking community, we also understand the need to earn the trust of India’s digital nagriks. They need to be satisfied that our work is unbiased, rigorous and fair; and that we are transparent about our approach and how we operate, so that they can feel safe relying on our assessments and fact checks when trying to make sense of the world around them.

    The FCN has a robust Code of Principles that is meant to provide Indian fact checkers with the guidance they need to ensure their work is of an unimpeachable standard. The Code includes commitments to non-partisanship and fairness (including not unduly targeting any side), transparency of methodology (including explaining how fact checks are done and what evidence is used) and transparency of funding (to ensure readers are aware of any relevant bias).

    While such commitments can also be found in international best practices, the FCN Code of Principles goes further, with tailored provisions to ensure that the interests of India’s digital nagriks are firmly front and centre. Fact checking organisations that sign up to the Code have to commit to ensuring that their checks are easily accessible and are not hidden behind a paywall, and that their checks can be used for non-commercial purposes like awareness campaigns under a creative commons licence. They also have to demonstrate a commitment to privacy and safety, including considerations under Indian law for protecting the identities of children and victims of heinous crimes, as well as protecting personal data under the Digital Personal Data Protection Act 2023.

    Organisations that are willing to sign up to the Code of Principles will become part of a standard framework for fact checking in India, overseen by the FCN Board. The Board is a self-governing body established under a special charter to verify whether an organisation’s processes and workflow is compliant with the FCN Code of Principles. Organisations which meet the standards will be accredited as ‘verified signatories’ to the Code. This can be viewed as a certification to the public as well as platforms and government authorities that the organisation can be trusted to employ the highest standards in the conduct of fact-checking.

    The FCN Board will comprise independent eminent persons from the field of media, broadcasting, journalism, human rights or law – all of whom must be Indian citizens – with a retired Supreme Court or High Court judge as its Chairperson. The Board will obtain reports from expert assessors to determine whether an organisation should be accepted as a verified signatory. These assessors need to be Indian citizens with extensive experience and qualifications, and will need to demonstrate their political neutrality to perform this role.

    The Board will also ensure any signatories which violate the Code face consequences, including in serious cases losing their status and being barred from applying for it again. Any member of the general public can file a complaint about such violations against a verified signatory, ensuring that Indian citizens can keep their trusted fact checkers accountable.

    While the MCA has worked on drawing up this framework, we want it to be a framework for all Indian fact checkers, which can eventually become a leading standard in South Asia and beyond. Any fact checking organisation with a demonstrable focus on India, and which publishes fact checks in English or any of the 22 languages recognised by the Indian

    Constitution, is eligible to apply to become a verified signatory. It will not be necessary for a fact checker to join the MCA to do so.

    The FCN framework is meant to be a multi-stakeholder initiative that builds public trust and can become an integral part of comprehensive strategies to address online misinformation and disinformation. The framework was therefore prepared following widespread consultations with relevant stakeholders.

    We hope to continue to be able to work with others committed to the fight to protect Indian citizens from online harms, and ensure that the Indian fact checking community fulfils its incredible potential for years to come. As part of these efforts, we have launched an email (factcheckthis@mcaindia.in) that will serve as a hotline where posts or messages containing potential or suspected misinformation can be sent for fact checking and verification by our member fact-checking newsrooms.

    We are also excited to welcome new members to the MCA family, and look forward to expanding this community to be ever more inclusive, diverse, and dynamic. 

  • Guest Article: Female entrepreneurship and successfully fighting gender stereotypes

    Guest Article: Female entrepreneurship and successfully fighting gender stereotypes

    Mumbai: As I sit down to write this, I can’t help but reflect on the incredible journey I’ve embarked on as a female entrepreneur. In a world where gender stereotypes often dictate the boundaries of our ambitions, from a young age, I knew I wanted to be an entrepreneur, but I also knew that the path I was choosing was one less traveled by women. As a female entrepreneur, my journey has been an adventure, a test of resilience, and a relentless drive to shatter the glass ceiling that has confined women for far too long.

    Let’s begin with a startling fact: women have been founding businesses at a higher rate than men for the past two decades, according to the 2019 State of Women-Owned Businesses Report. But the road to success has rarely been a smooth one. My own journey as a female entrepreneur is filled with challenges that I have managed to overcome, and I’m proud to be part of a movement that is breaking down barriers and redefining what it means to be a businesswoman in the 21st century.

    Like many women, I’ve encountered my fair share of gender stereotypes. Society often assumes that women are better suited for roles in caregiving, education, or administrative positions. Breaking out of these preconceived notions can be a daunting task, but it’s one that’s well worth the effort.

    One of the most significant hurdles I faced was securing funding for my startup. Gender bias in the investment world is an unfortunate reality. According to a Harvard Business Review report, male entrepreneurs are more likely to receive funding, and when they do, it’s usually a larger sum compared to their female counterparts. This inequality stems from various biases, including the misconception that women lack the necessary leadership skills for entrepreneurship.

    My personal experience echoes these statistics. When I first pitched my business idea to investors, I was met with skepticism and questions about my ability to handle the challenges that lay ahead. Undeterred, I continued to refine my pitch and sought out mentors and networking opportunities within the female entrepreneur community. Slowly but surely, I found my tribe of like-minded individuals who provided unwavering support.

    Overcoming gender stereotypes in entrepreneurship doesn’t just require resilience; it also calls for a shift in perspective. It’s about embracing the power of diversity and recognising that the qualities that women bring to the table can be assets, not liabilities. Studies have shown that diverse teams tend to perform better, are more innovative, and generate greater profits.

    In my experience, I’ve found that women often possess qualities that make them exceptional entrepreneurs. Empathy, collaboration, and a keen understanding of consumer needs are among the many strengths that women bring to the business world. When I learned to leverage these qualities to my advantage, my business began to thrive.

    Building a network of supportive individuals was another crucial step in my journey. As a female entrepreneur, it’s essential to connect with mentors, advisors, and peers who understand the unique challenges we face. Many organisations and platforms have been created specifically to help women succeed in business. These communities provide a safe space to share experiences, exchange advice, and offer a sense of belonging.

    Another inspiring statistic is the growth of women-owned businesses, which has surged by 21 per cent over the last five years, according to the American Express 2021 State of Women-Owned Businesses Report. This significant increase in female entrepreneurship is a testament to our collective ability to overcome gender stereotypes and achieve remarkable success.

    It’s clear that gender stereotypes continue to exist, but it’s also evident that women are not only defying these stereotypes but reshaping the entrepreneurial landscape. With persistence, support networks, and an unshakable belief in our abilities, we can thrive in the world of business.

    In my journey as a female entrepreneur, I’ve learned that it’s not about fighting gender stereotypes; it’s about dismantling them. It’s about challenging the notion that entrepreneurship is a man’s world. The road ahead may be challenging, but it’s a path worth traveling.

    Together, we’re turning the tides, inspiring the generations to come, and proving that not only do we belong in the world of business, but we excel in it. As a female entrepreneur, I stand shoulder to shoulder with my peers, ready to conquer new heights and redefine the narrative of what it means to be a woman in business.

    Every day, we’re pushing the boundaries, smashing the glass ceiling, and paving the way for future generations of female entrepreneurs. And that, my friends, is a journey worth every struggle, every challenge, and every victory.

    This article has been authored by serial entrepreneur, LP Angel Investor and Assiduus Global Inc founder and CEO Dr. Somdutta Singh.

  • HiveMinds wins the digital mandate for Wonderchef Home Appliances

    HiveMinds wins the digital mandate for Wonderchef Home Appliances

    Mumbai: Hiveminds Innovative Market Solutions, the digital and ecommerce specialist arm of Madison World, won the integrated digital mandate for Wonderchef Home Appliances. The account was won by the Agency after a multi-agency pitch involving several rounds of presentations and will be handled from its Mumbai office. As part of the mandate, HiveMinds will be responsible for the digital performance of owned assets and e-commerce marketplaces, social media management and search engine optimization (SEO).

    Founded by celebrity chef Sanjeev Kapoor and serial entrepreneur Ravi Saxena in 2013, Wonderchef is one of the most preferred brands in India for premium kitchen appliances and cookware. Their products are designed with an emphasis on quality, design, and innovation, often endorsed by Chef Sanjeev Kapoor himself.

    Wonderchef chief marketing officer Amit Tilekar commented on the association, “We’ve been on a growth trajectory over the last 3 years and this year, we’re targeting a 25-30% revenue growth, and digital success is pivotal for achieving it. Our customers are digital-first. Often, their entire user journey from search, comparison, review, and buying is initiated and completed online. Even for offline retail customers, digital holds a significant influence.

    We’ve seen HiveMinds’ work over the various rounds of pitches, and after evaluating their tech and team capability, we are sure that they are the right partner for growth at this stage of our journey”.

    HiveMinds chief client officer Saurabh Tyagi said, “We’re proud to have won the integrated digital marketing mandate for Wonderchef. They are a formidable brand in the fast-growing Kitchen & home appliances category. Most importantly, their digital-first approach gives us the opportunity to completely leverage the power of digital. With this mandate, we will be able to use digital content, social media engagement and sharply defined performance campaigns to deliver success to the brand”.

    HiveMinds is a Bengaluru-based full-service digital marketing company and consultancy with a specialization in performance marketing, display, e-commerce, and programmatic buying. They manage digital mandates for Dominos, MaxLife Insurance, BigBasket, CoinSwitch Kuber, and eCommerce mandates of brands like Crompton, P&G, Nivea, Saffola Honey, Sugar cosmetics, ITC Dermafique, Sonata watches, Stanley black & decker, etc. The company owns unique technology, tools, and data analytics methodologies that enable it to deliver outstanding results to its clients.

    HiveMinds is a part of Madison World, India’s largest homegrown communication agency group established in 1988. Madison World through its 11 units served last year, as many as 500 advertisers.

  • Sunfeast Yippee! teams up with internet sensation Jasleen Kaur for a ‘WOW’ Fusion

    Sunfeast Yippee! teams up with internet sensation Jasleen Kaur for a ‘WOW’ Fusion

    Mumbai: In a ‘WOW-worthy collaboration, Sunfeast YiPPee! and Jasleen Kaur are stealing the social media spotlight. Jasleen Kaur, whose ‘WOW’ phrase has set the internet abuzz, found herself in the company of Deepika, Ranveer Singh, and Yashraj Mukhate, catapulting her to social media stardom.

    ITC’s Sunfeast YiPPee! recently partnered with this latest online sensation to promote their new creation, Sunfeast YiPPee! Wow Masala.” The result? A viral sensation that garnered over 2 million organic views in less than 24 hours!

    This partnership showcases Yippee!’s dedication to engaging with its consumers, in the most ‘WOW’ way possible.

     

     

  • Strong margin expansion headlines TVS SCS Q2 FY24 performance

    Strong margin expansion headlines TVS SCS Q2 FY24 performance

    Mumbai: TVS Supply Chain Solutions Ltd (NSE: TVSSCS, BOM: 543965), a global supply chain solutions provider and one of the largest and fastest growing integrated supply chain solutions providers in India, today announced its consolidated unaudited financial results for the second quarter and first half of FY 2024. TVS SCS has two business segments, Integrated Supply Chain Solutions (ISCS) and Network Solutions (NS).

    ISCS Business performance:

    New deal wins:

    The ISCS segment continued to deliver double digit growth consistent with its performance in the earlier quarter. Q2 revenue grew 13.5 per cent YoY to 1,269.5 Cr. Expansion in existing customer engagements and revenues from new business development drove broad based revenue growth across India, UK and Europe. New business wins in Q2 FY24 included a contract with a large Indian IT services provider, an industrial manufacturing company in India, a consumer goods business in the UK and a shipbuilding company in India. Strong execution delivered healthy margins with Q2 Adj. EBITDA margins expanded 240 bps YoY to 10.2 per cent and helped substantially balance the impact of the UAW strike and a scheduled plant shutdown in one of our large customers.

    The half yearly results reflect the growth momentum in the ISCS Segment. Revenue grew 16.8% YoY from 2,216.3 Cr to 2,588.4 Cr and Adj. EBITDA grew 47.4% from 182.8 Cr to 269.3 Cr translating to a margin expansion of 220 bps YoY.

    NS business performance:

    The Network Solutions Segment showed resumption of growth as revenue grew 2.4% sequentially over Q1 FY24. This was driven by growth in IFM (Integrated Final Mile) business and sequential volume improvements in the GFS (Global Forwarding Solutions) business.

    In the IFM business, the implementation of pricing, cost containment and operational efficiency initiatives have started delivering early margin improvement. The discontinuation and sale of Circle Express by the IFM business was an important strategic intervention in this regard. This sale is expected to drive larger focus on the core business and margin expansion in the forthcoming quarters.

    The GFS (Global Forwarding Solutions) business declined revenue by almost 50% YoY in line with the global trend. But our GFS volume showed an uptick in Q2 over Q1 FY 24. We will continue to focus on business development along with customer engagements and operationally driving efficiency coupled with better utilisation to counter the revenue headwinds that we see in the immediate term.

    The NS Segment Adj. EBITDA margins expanded 30 bps QoQ to 4.9% on the back of revenue growth and benefits of operational initiatives & cost management.  On a half yearly basis, overhang of the low freight rates continued to impact the NS Segment with revenues 36.3% lower YoY from 3,083.0 Cr in H1 FY23 to 1,963.5 Cr in H1 FY24.

    Summary of consolidated financial performance:

    On a consolidated basis, Q2 Adj. EBITDA margins expanded 100 bps YoY as margin expansion in ISCS segment helped balance the NS segment. Consistent margins and decrease in interest expenses helped narrow the loss before tax and exceptional items to 4.5 Cr from a loss of 10.7 Cr in Q1 FY24.

    They undertook two strategic interventions in Q2: sale of Circle Express business and sale of a partial stake in TVS Industrial & Logistics Parks. These two were classified as exceptional items in the quarter and their net impact was -3.2 Cr. Profit After Tax for the quarter was -21.9 Cr compared to -51.2 Cr in Q1 FY24.

    Commenting on the performance, TVS Supply Chain Solutions Ltd. managing director Ravi Viswanathan said, “We continue to see robust demand for supply chain solutions across industry sectors and geographies. Our new opportunity pipeline is strong and we expect new business to continue to deliver. We are confident that our global presence, diversified revenue base and operational excellence will drive performance.”

    Commenting on the performance, TVS Supply Chain Solutions Ltd. global CFO Ravi Prakash Bhagavathula said, “We continue to focus on profitable growth and are implementing specific actions aimed at operational improvements. In Q2, we exited Circle Express, one of our businesses in the NS Segment, which will strengthen our focus on our core capabilities and also have a positive impact on profitability. The Adj. EBITDA margin expansion in NS segment is an early outcome of these actions. We have utilized the proceeds from the IPO to reduce our borrowings as a result of which our interest costs reduced in Q2, the full benefit of which will start flowing through starting Q3.”

    Non-GAAP measures

    Adjusted EBITDA is calculated as the sum of restated profit/ (loss) for the period from continuing operations, total tax expenses, finance costs, share based payments, loss on foreign currency transactions and translations, depreciation and amortisation expense reduced / added by exceptional items, share of profit of equity accounted investees (net of income tax) and other income. 

  • Bolas unveils exquisite Heritage Gifting Collection this festive season

    Bolas unveils exquisite Heritage Gifting Collection this festive season

    Mumbai: With the festivities around the corner, Bolas, a prominent Indian manufacturer specialising in the dry fruits, nuts and sweets category, has launched a unique gifting collection. Bolas Heritage series beautifully depicts the stories from epics of Ramayana, Mahabharata and folktales of Karnataka through aesthetically designed gift-boxes. Offering an array of options, from assorted sweets to nutritious nuts and dried fruits, Bolas presents multiple meaningful gifting options starting from just Rs 180. The brand aims to acquaint consumers with remarkable Indian tales with its beautiful Heritage Gifting series.

    In their creative approach, Bolas ingeniously integrates the art of storytelling into its packaging bringing India’s heritage and traditions to the forefront. Furthermore, these meticulously crafted packages also offer the additional appeal of becoming cherished keepsakes, meant to be safeguarded and cherished for the years that lie ahead.

    Speaking on this launch, Bolas Agro Pvt Ltd director Rajat Kamath Bola said “ Bolas Heritage series of gifting is our tribute to stories from Ramayana, Mahabharata and Karnataka’s folklore. We have tried to weave six decades of experience in the dry fruits industry to provide a truly Deepavali Gifting experience. They include nuts packed in reusable glass jars or resealable packages. The sweets are prepared in-house and they remain fresh for over 3 months, so that customers don’t have to worry about their freshness when the sweets reach their loved ones.”

    For the period of festivities, Bolas brings a delightful blend of nourishing and delectable treats, striking a perfect balance between healthful indulgence and scrumptious sweets that leave a lasting impression. Adorned with colorful packaging, these gift packs consist of an assortment of nuts, dried fruits, and delicious sweets, like Kaju Katli, Mysore Pak etc. all beautifully packaged in decorative festive packaging.

    Starting from Rs 180 onwards, the Heritage Series gift boxes are now available in all Bolas outlets and online at www.bolas.co.in.

  • Innovation meets cuisine Upliance.ai’s delishUp⤴️ hits the market

    Innovation meets cuisine Upliance.ai’s delishUp⤴️ hits the market

    Mumbai: In the heart of Bengaluru, a culinary revolution is underway, led by the brilliant minds behind Up⤴️. Founded by IIT Bombay alumni, Mahek Mody and Mohit Sharma, this dynamic startup is poised to transform kitchens across India. A touch screen that guides you through a world of delectable recipes, a cooking jar that wields precision in chopping, stirring, and cooking – all in one. Say hello to delishUp⤴️, the game-changer that’s set to turn kitchen novices into culinary maestros. Tested in over 350 homes, with 10,000 meals and counting, it’s poised to redefine how we approach mealtime. But that’s just the beginning. With Up⤴️, the kitchen becomes a realm of endless possibilities. Stay tuned as we dive into a journey of culinary innovation that’s about to make cooking an absolute delight.

    Indiantelevision.com in an insightful email interaction spoke to  Upliance.ai CEO Mahek Mody

    Edited excerpt

    On the initial challenges Upliance.ai faced when implementing the viral customer referral loop, and overcoming them

    As a new company with its first product, we had to work hard to match the trust and faith our early adopters offered us. Be it in rolling out new features, offering them great post-sales support or even rolling out recipes they wanted. The entire team had to keep the customer as the centre of their focus to be able to match and exceed their expectations.

    That being said, we have been able to build a loyal customer base and that is in part to the product and the ownership experience and this has translated into nearly 50 per cent of our sales stemming from referrals.

    Our other challenge was our scale and availability. We began in Bengaluru and it took us a while to expand nationally. Our customers were referring people from Kashmir to Shillong to Thiruvananthapuram and it took us time to be able to meet that demand. This will likely be a challenge we continue to work on while our supply tries to match the demand.

    On the specific features or aspects of Upliance.ai’s offering that have contributed most to its popularity among customers

    The biggest transformation we have brought to our owners’ is to redefine what is ‘home food’. For most of us home-cooked meals have meant sometimes boring, repetitive, healthy but not always tasty food and the only plausible alternative has been to order in. We are constantly exposed to novel and innovative food through content and media, but very few of us have the ability to cook anything that comes close to what we want to really eat.

    Through the delishUp⤴️ we have empowered them to be able to cook anything they want, anytime they want it. They no longer need to worry about how a recipe is made, learning cooking techniques to get it right or even worry about if they know how to peel an onion. The delishUp⤴️ does the majority of the work and the decision-making for them. The freedom to make what you can imagine has made our owners fall in love with us.

    Aside from the upliance itself, we have a great community that keeps in touch with each other through their daily cooking adventures, we also offer round-the-clock support which is only one tap away. The complete ownership experience has converted our owners into our most vocal supporters.

    On the role that customer feedback plays in shaping Upliance.ai’s product development roadmap and future innovations

    We have been building with our customers in the loop since Day 1. Once we had our first prototype ready in 2021, we immediately had prospective customers cook with it so we could collect their feedback. This later was formalised into a Beta testing program in Bengaluru, we had over 1000 people cook with the delishUp⤴️ and used all their feedback both on the hardware and the recipes to keep improving the upliance.

    Today, our WhatsApp community with over 400 people tells us what’s working for them and what isn’t. We use their feedback to implement changes and improvements and build new features. We have an open form for anyone in the Community to share recipe requests and a similar thread for Features and bugs. Several of our owners have signed up to test and improve new features and functionality, helping us test and improve the product everyday.

    We expect to build all our future products also with our community and allow them to define what they want and how they see our products fitting into their lives.

    On Upliance.ai managing to maintain customer loyalty and retention in a competitive market

    Cooking and eating is a social experience and we have made it a part of owning a delishUp⤴️. We have built an extremely active and vocal community on WhatsApp. We have owners sharing their feedback on recipes, features and pictures of what they have been cooking at home. Several of them are also helping the newbie cooks learn more about food, and ingredients and answering questions about what to expect when they experiment with new cuisines and ingredients.

    Our owners also appreciate our round-the-clock support through our recipe experts and the tech team. Through our “Call Me” feature, they can raise a request for a call back anytime they are stuck and receive a callback in <2 minutes from a team member. We are one of very few home appliance companies that offer such personalised support to their customers.

    On any plans to expand Upliance.ai’s product line or enter new markets in the near future

    Our mission is to level Up⤴️ people’s day-to-day experiences and quality of life with transformative tech appliances and we have only just begun the journey with delishUp⤴️.

    We want to build more modern products including smart and connected microwaves and refrigerators. We are also looking towards offering more variants of the delishUp⤴️ in the future.

    On Upliance.ai differentiating itself from competitors in terms of both product offerings and customer engagement strategies

    We are India’s first AI-powered home appliance startup and we launched with a new category of appliances – personal cooking assistants. At the moment, our competition is really limited to food delivery services. The alternative has always been to learn to cook and that can be a daunting task for most people. With the delishUp⤴️ we are encouraging young India to cook at home and take charge of their health and nutrition. The delishUp⤴️ gives our owners the power to make anything they want from Day 1, they need only pick a recipe and the upliance will make it with them.

    Aside from the cooking automation functions – chopping, heating and stirring, our differentiation has been how we have integrated AI into the upliance. We use AI to manage temperature and heating, making most cooking functions a single button on the screen. Example ‘Tadka’, ‘Stir Fry’, ‘Thicken Gravy’ etc are just basic functions we have built into the upliance after 1000’s of cooking sessions. Today, an owner can modify ingredients and the upliance recognises and modifies cooking presets based on its hours of training.

    We have also incorporated ChatGPT to assist in generative recipes and an AI chatbot which can answer any cooking and delishUp⤴️ related questions. This has given our owners the freedom to cook anything beyond the 300 inbuilt recipes. We have had our owners try to recreate recipes from pop culture like Butterbeer from Harry Potter, and even vegan or low-fat versions of traditional recipes like Biryani and Kheer. All our AI and automation functions have been designed to empower the owner and give them the freedom to turn their kitchen into their playground.

    We also roll out new recipes every Friday, so our owners have something new to eat and try every week. This keeps them coming back to try more. We design our recipes based on their requests and the season, festivals, etc. The past couple of weeks we have been rolling out festive recipes like desserts and snacks, during the monsoons we built soup recipes and even kadha.

    On Upliance.ai tracking and measuring the ROI of its customer referral program

    The delishUp⤴️ has changed the what our owners eat everyday and turned several of them into ‘Masterchefs’. This sense of pride and empowerment has turned them into our brand ambassadors. Several of our owners have hosted parties and get-togethers where all the food is cooked on the delishUp⤴️, others have invited neighbours and friends over to show off their new superpower. Our ability to build with them and for them has led to a very successful referral program.

    Our referral program has been designed to be simple to use. Simply generate a custom link on the app and share it with your friends and family via text message. We have been able to track nearly 50 per cent of our sales to referrals and positive word-of-mouth.