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Non-metro Presence: Retailers are expanding their presence in tier-2 cities due to rapid growth in infrastructure and an expanding working population. Global brands like Zara, H&M, Adidas, Nike, Starbucks, Uniqlo, and Marks & Spencer are increasing their footprint in non-metro areas. Explore the growth potential and opportunities in these cities.
FMCG: In a notable shift, local and regional firms have made significant inroads, reaching up to 31% more households in key segments like biscuits, soap, washing powder, and detergent during the September quarter. This trend has caught the attention of chief executives at major consumer goods companies, who are now acknowledging the resurgence of smaller brands and its consequential impact on their sales growth.
The move is an extension of its internal ordering app Shikhar, which allows small neighbourhood stores to order directly from it. For HUL, the country's biggest packaged consumer goods firm, the app now accounts for about a third of its sales from neighbourhood retailers. Last year, HUL became the first fast-moving consumer goods (FMCG) firm to join ONDC through its multi-brand direct-to-consumer platform, UShop.
The DGGI is also understood to have sought an explanation from GCPL on the matter. The sources cited added that DGGI's Mumbai unit also conducted an inspection on premises linked to Raymond as part of its investigation. Section 67 of the CGST empowers an official to conduct an inspection if he has reason to believe that a person concerned has suppressed information to evade tax.
The Indri Diwali collector's edition, a new peated whiskey made by the sugar mill, won the Best in Show Double Gold award at the Whiskies of the World Awards, it was announced last month. Indri was the sole winner in that category. That's not all. The stock of Piccadily Agro Industries-the company that runs the sugar mill-has soared. It was ₹25 in December 2021 and has since shot up to ₹241.