Archive: June 1, 2023

WoodenStreet Expands its Retail Network by Opening 10th Store in Delhi NCR

WoodenStreet, a leading furniture brand in India, has reached a major milestone by opening its 10th store in Delhi NCR.

The new store, located in the heart of Delhi NCR at South Extension, spanned across a carpet area of 4000 sq. ft, at an investment of around INR 2-3 crore.
With an addition of this store, the company’s presence in the NCR region now extends to a remarkable count of 10 stores.

The studio showcases WoodenStreet’s exquisite range of furniture, which includes everything from living room sets, bedroom furniture, and dining room sets to office furniture and other home décor items.

In addition to the new store, WoodenStreet also has a fulfillment center in Delhi. Spread across an area of 50000 sq. ft.; the facility helps in improving WoodenStreet’s business.
Located at Fatehpur Beri, the center aims to reduce delivery timelines in the National Capital Region. It also serves approximately 70 percent of the order quantity in the region. This move is in line with the company’s commitment to providing a seamless shopping experience to customers.

Speaking on the new studio launch, Lokendra Ranawat, CEO of WoodenStreet, said, “North India holds immense significance for us as a crucial market. The opening of our 10th store in Delhi NCR reaffirms our dedication to serving the region and signifies a major milestone in our journey. Alongside this, the fulfillment center represents another step forward in our mission to expand our reach and cater to a wider audience. We are proud to expand our presence and create new work opportunities for people in the region.”

With 100+ experience stores, 30+ warehouses, and 30k+ home furniture & décor products, the brand expects to continue driving customer delight across India, including Metro, Tier-2 & Tier-3 cities.

The company’s commitment to quality, affordability, and customer satisfaction has been the driving force behind its success. With its recent expansion into the offline market, WoodenStreet is well-positioned for continued growth and success in the years to come.

In April, last year, WoodenStreet secured $30 million in Series-B funding from Westbridge Capital, a noteworthy achievement for the company. As part of its plans to expand nationwide, the brand announced in October 2022 that it would invest approximately $20 million.

CREATIVE NEWTECH announces its Q4 results

Mumbai, June 1st 2023: Creative Newtech (NSE: Creative), one of India’s leading Brand Licensee and Market Entry Specialist today announced it’s reported growth numbers for the period Q4 ending May 31th 2023.

Highlights of Q3 FY 23-24 V/s Q4 FY 23-24 (Standalone) (in Cr.)
• Total Revenue of Rs. 413.62 in Q3 , Rs.397.74 in Q4
• EBIDTA of Rs. 10.71 in Q3 , Rs.11.29 in Q4
• PAT of Rs. Rs. 5.71 in Q3 , Rs.6.32 in Q4
• EPS of Rs. Rs. 4.55 in Q3 , Rs.4.98 in Q4

Highlights of Q3 FY 23-24 V/s Q4 FY 23-24 (Consolidated) (in Cr.)
• Total Revenue of Rs. 428.98 in Q3 , Rs.402.98 in Q4
• EBIDTA of Rs. 12.69 in Q3 , Rs.11.49 in Q4
• PAT of Rs. Rs. 7.67 in Q3 , Rs.6.51 in Q4
• EPS of Rs. Rs. 5.52 in Q3 , Rs.5.20 in Q4

Management Comment

Commenting on the results, Ketan Patel, Chairman & Managing Director, said,” In Q4 this year, the continued success of our business was to add more brands to our portfolio, Cricut and Razer. The Q 4 also witnessed a steady growth in the sales of FMEG products, offline and online. We expect the momentum to carry forward into FY 23-24 and plan to expand our portfolio by adding more reputed and global brands. Along with the high revenue by our electronic goods portfolio”.

Royal Orchid Hotels Ltd: FY 22-23 Standalone Income at 48.67 Cr in Q4 and Consolidated Income at 76.54 Cr in Q4

Bengaluru, June 1st, 2023: Royal Orchid Hotels Limited, a rapidly expanding hotel chain catering to both business and leisure travelers with its portfolio of 5-star, 4-star, and resort properties, has announced its financial results for the quarter and period ending on March 31, 2023.

Highlights of Q4 FY 22-23 V/s Q4 FY 21-22 (Standalone)
• Total Income of Rs. 48.67 CR V/s. Rs. 26.57 CR – 83%
• EBIDTA of Rs. 16.66 CR V/s. Rs. 8.51 CR – 95%
• PAT of Rs. 7.18 CR V/s. Rs. 2.78 CR – 158%
• EPS of Rs. 2.62 V/s. EPS of Rs. 1.01 – 159%

Highlights of YE Mar-23 V/s YE Mar-22 (Standalone)
• Total Income of Rs. 176.62 CR V/s. Rs. 88.25 CR – 100%
• EBIDTA of Rs. 61.85 CR V/s. Rs. 23.54 CR – 162%
• PAT of Rs. 28.18 CR V/s. Rs. (0.73) CR – 3960%
• EPS of Rs. 10.27 V/s. EPS of Rs. (0.26) – 4050%

Highlights of Q4 FY 22-23 V/s Q4 FY 21-22 (Consolidated)
• Total Income Rs. 76.54 CR in V/s. Rs 46.95 CR – 63%
• EBIDTA of Rs. 25.80 CR V/s. Rs. 14.24 CR – 81%
• PAT of Rs. 13.12 CR V/s. Rs. 31.67 CR – (58%)
• EPS of Rs 4.62 V/s. EPS of Rs. 11.59 – (60%)

Highlights of YE Mar-23 V/s YE Mar-22 (Consolidated)
• Total Income Rs. 279.69 CR in V/s. Rs. 155.93 CR – 79%
• EBIDTA of Rs. 98.03 CR V/s. Rs 40.35 CR – 142%
• PAT of Rs. 49.22 CR V/s. Rs. 26.78 CR – 83%
• EPS of Rs. 17.15 V/s. EPS of Rs 10.71 – 60%

IND-AS 116 adoption led to notional increase in depreciation and finance cost of Rs. 13.44 CR leading to reduction in PAT of Rs. 2.77 CR and has also impacted the debt equity ratio at standalone level (SA) for FY 2022-23

Management Comment

In reference to the results, Mr. Chander K Baljee, Chairman & Managing Director, expressed, “This year has been significant for us in multiple aspects – commemorating our 50 years in the

Industry, expanding internationally, and sustaining business success. We are dedicated to providing a value-driven luxury
Experience to every Indian through our portfolio of over 90 hotels and 5,442 keys till date. The resurgence of travel affirms our belief in the ever-evolving Indian traveler, whether for leisure or business purposes. Our strategic plan involves expanding the Regenta brand into Tier 2 & 3 cities, exploring smaller cities with promising potential.”

The Equal collection by Claudio Bellini and VitrA: A stunning blend of functionality and sophistication

VitrA, the leading bathroom brand, has launched its latest collection, Equal, designed by the acclaimed Italian designer, Claudio Bellini. The collaboration between Bellini and the VitrA design team has resulted in a contemporary collection that is both elegant and tranquil.

VitrA Equal is a stunning collection that is characterized by pure shapes and seamless joints. The design is focused on creating a sense of fluidity, and the smooth edges are used to mimic the natural contours found in lakes. The more structured lines provide a sense of balance and stability, resulting in perfect harmony between natural shapes and man-made structures.

VitrA Equal is a versatile collection that can be customized to fit any bathroom style. The collection includes a range of products, including washbasins, toilets, and bidets, all designed to work together seamlessly. The collection’s modular approach means that users can mix and match the products to create a bathroom that reflects their personal style.

One of the most striking features of the VitrA Equal collection is the seamless joints. The design ensures that there are no visible joints, giving the products a clean and modern appearance. The attention to detail in the design of the joints ensures that they are both functional and aesthetically pleasing.

The VitrA Equal collection is designed to create a sense of tranquillity in the bathroom. The alluring and classy design is perfect for those who seek a calm and relaxing space. The collection is an excellent choice for those who want to create a contemporary bathroom that is both stylish and practical.

VitrA’s Equal collection of WC pans incorporates innovative Rim-Ex technology that eliminates the hard-to-clean rims, ensuring superior hygiene by preventing the accumulation of germs. VitrA prioritizes hygiene and provides user-friendly cleaning solutions with its VitrA Hygiene technology. The ION technology in VitrA Hygiene prevents harmful bacteria by 99.9%, ensuring maximum hygiene on all surfaces. The technology’s protective feature remains intact even under intense usage conditions. It has a special glaze that coats all external and internal surfaces of VitrA ceramic ware, providing lifelong VitrA Hygiene protection.

The Equal collection by Claudio Bellini and the VitrA design team is a perfect combination of elegance and simplicity. The collection is a reflection of Bellini’s expertise and attention to detail, making it a perfect choice for those who seek style and functionality. With its modular approach and seamless joints, the Equal collection is a versatile and customizable option for any bathroom.

Green Jobs expected to witness 15-20% Y-O-Y demand for the next 10 years: NLB Services

India’s aim to achieve net zero by 2070 marks a significant milestone in the country’s sustainable development journey. This ambitious goal is also creating a remarkable shift in the corporate landscape. As the government focuses on investing in indigenous technologies and manufacturing skills for climate and resource conservation, the nation is geared up for rapid growth, impacting the hiring practices with a changed focus on hiring professionals in green jobs. Green jobs, including sustainability manager, ESG analyst, social impact manager, climate change adaptation planner, green supply chain manager, governance & compliance specialist, renewable energy expert, etc., are among the most desirable options.

Sharing his views on the rising demand for green jobs, Sachin Alug, CEO of NLB Services added, ‘In the last 3 years, India has witnessed unprecedented growth in demand for green jobs. As organizations are working toward becoming more ESG compliant, demand for niche roles like ESG analysts, social impact managers, and sustainability managers has grown in the last 2 years. We expect the demand for the top 5 green jobs to increase 15-20% on average every year for the next 10 years. To help corporates address this high demand, we are building talent pipelines while deploying the right candidates for the forecasted market demand.’

As per various reports and studies, India can generate 30-32 million green jobs by 2050. Areas including sustainability, environmental management, governance & compliance, etc., are gaining more demand. Moreover, with companies becoming proactive in acknowledging their ESG agenda, their need to attract relevant top talent is also increasing. They understand the value that these professionals can create and thus, are inclined towards offering competitive compensation packages along with enticing perks and benefits.

Coming to the industries, renewable energy is driving the major demand. Other industries, including technology and consumer goods, are also crucial drivers. Tech companies are also rapidly recognizing the significance of sustainability. Additionally, there has been a rise in sustainable financial products, making the finance industry another crucial driver in this domain.

In conclusion, as the rising focus of both the government and corporates on environmental sustainability continues to shape business strategies, the demand for professionals skilled in this domain will continue to grow.

Snitch Records a staggering 250 Percent growth in Revenue from 44 crores to 120 Crores in FY 22-23

New Delhi, 1st June 2023: Snitch, India’s fastest emerging D2C men’s apparel brand announces that it has witnessed a powerful growth trajectory of 250 percent from 44 crores in FY 2021-22 to 120 Crores in FY 22–23 with profit  EBITDA of 6%. Riding on top of the fast fashion market for Men, the company has been growing at an incredible pace and has been witnessing a staggering growth trajectory with 1300 percent of revenue growth in the last 2 years.

The company has also recently expanded to a new emerging category of Men’s Jewellery, after fragrances, with a focused vision to change the outlook of the men’s fashion industry across the country. The company is presently in the process of adding further new categories to its portfolio. SNITCH also forays into the offline retail market with its 1st EBO in Bengaluru to be operational by July 2023.

Driven by key propositions like world-class trends, niche designs, and mindful & sustainable styles, Snitch has achieved a benchmark of over 1 Million Order over the course of the last 1 year wherein almost 55 percent of sales is generated through its agile, customer-friendly mobile app, that has also evidently recorded 1.5 million app downloads in FY 22–23. Snitch has almost doubled its employee base during the financial year 2022 – 23 to achieve new levels of growth. The company undergoes a rapid team expansion spree from presently 100 to increase its employee base to 180 by FY 2023 – 24, to cater to the growing demand.

Commenting on the development, Mr. Siddharth R Dungarwal, CEO & Founder, Snitch, says, “Our Company has witnessed a rapid acceleration of growth over the recent years, and we are committed to moving forward with the same vigor.  Especially, with our focused mission to change the outlook of the Men’s fashion industry, we are strategically capitalizing on fast fashion trends that truly make us stand apart from the rest of the world. The next financial year looks even more promising to bring even larger opportunities for Snitch and we are geared up for the same.”

The company has already achieved a huge acknowledgment in the industry with its recent appearance on Shark Tank India wherein it has successfully bagged an all-sharks deal, securing ₹1.5 crore for 1.5% equity from all five eminent judges. This has been a true testament to Snitch’s tremendous success and potential growth to spearhead the industry. The eminent investors on the SharkTank included experts like Anupam Mittal Founder-CEO of Shaadi.com – People Group; Aman Gupta, Co-Founder-CMO of boAt; Namita Thapar, Executive Director of Emcure Pharmaceuticals; Vineeta Singh, Co-Founder-CEO of SUGAR Cosmetics; Peyush Bansal, Founder-CEO of Lenskart and Amit Jain, Co-Founder-CEO of CarDekho Group and InsuranceDekho.

ASUS Exhibits Compelling Innovations Across Product and Solutions Portfolios Along with Sustainability Achievements at Computex 2023

TAIPEI, Taiwan,1st June 2023: ASUS today announced its showcase of incredible innovations at Computex 2023, with new monitors, laptops, and exciting novelties, as well as incredible sustainability achievements. At the ASUS and Republic of Gamers (ROG) booths, ASUS will showcase a plethora of innovative products for visitors to explore and experience with exclusive hands-on testing. From consumer, business, and healthcare devices to gaming innovations, ASUS has everyone covered.

ASUS will also showcase its latest sustainability achievements towards achieving net zero emissions as well as how it integrates sustainable parameters within its product designs. Visitors will be able to learn more about the new ASUS Carbon Partner Services that enable customers to offset the carbon emissions associated with their ASUS products and contribute towards a more sustainable future.

Visitors can expect to see exciting laptops such as Zenbook S 13 OLED (UX5304) and ExpertBook B9 OLED (B9403), both featuring stunning OLED displays for vivid and lifelike visuals. Zenbook S 13 OLED — the world’s slimmest OLED laptop — is a sleek and stylish laptop built for carbon neutrality. ExpertBook B9 OLED is the world’s lightest 14-inch OLED business laptop, designed for business professionals who demand the best, with high-performance, long-lasting battery, and ultralight weight.

Lastly, visitors will be able to see a range of exciting novelties, including the ASUS BR1402F laptop, the world’s first 14-inch 2-in-1 rugged laptop for education. Other innovations at the ASUS booth include the new ASUS VU series monitors, designed for consumers who prioritize style, sustainability, and performance.

For gamers, ROG will be showcasing multiple gaming innovations, including gaming laptops, PC DIY components, gaming monitors, routers, and more. But the innovation doesn’t stop there, there is also ROG’s intelligent cooling technology and exciting the Nebula HDR display. Visitors will also be able to experience hands-on testing of the new ROG Ally gaming handheld, which takes portable gaming to a whole new level.

Visitors will be able to see first-hand the new ROG Matrix RTX™ 4090, the first liquid-cooled graphics card on the market with liquid metal cooling on the GPU die for extreme overclocking capabilities. Its sleek design and cutting-edge AIO thermal solution make it ideal for advanced PC DIY setups.

Also on view will be the new ROG Swift OLED PG49WCD monitor featuring a stunning 49-inch super-ultra-wide (5120 x 1440) QD-OLED screen with 1800R curvature, 144 Hz refresh, and 0.03 ms response time for competitive and immersive gaming. It also comes with an efficient custom heatsink as well as a graphene film placed behind the whole QD-OLED panel for better heat dissipation and to reduce the risk of burn-in.

ASUS ROG and NVIDIA® are also bringing the latest motion-blur reduction technology, G-SYNC ULMB 2, to the ROG Swift 360 Hz PG27AQN display through a firmware update. With over 1000 Hz of effective motion clarity, ULMB 2 provides enhanced motion blur reduction for competitive gamers offering full refresh rate backlight strobing, significantly higher brightness compared to the original ULMB, and zero crosstalk or double images. To do this, ULMB 2 uses a special technique named Vertical Dependent Overdrive to make sure the backlight only turns on when all the pixels are showing the right color.

The ASUS and ROG Computex 2023 booths are located at the Taipei Nangang Exhibition Hall 1, 4F, booth number M0510 (ASUS) and M0810 (ROG), and will be open from May 30 to June 2 from 9:30 am to 17:30pm.

ASICS Empowers Over 27000 runners at the 15th TCSW 10K Bengaluru

Bengaluru, June 1st, 2023: With the vision to promote #NothingFeelsBetter, a leading Japanese sports performance brand, ASICS is proud to announce its association with TCSW 10K Bengaluru as its ‘Official Sports Goods partner’. The 15^th edition of the event was flagged off from the iconic Sree Kanteerava Stadium on Sunday, May 21, 2023, and saw participation from over 27,000 runners from India and overseas, surpassing the last edition, which saw participation of over 23,000 runners.

ASICS takes pride in providing cutting-edge running gear, including shoes, apparel, and accessories, ensuring the runners were equipped with the best-in-class products to enhance their performance and comfort during the event. The ASICS Gel-Cumulus 25 was part of the race day look, which is one of their best sellers among the running community. ASICS also offered runners the chance to benefit from the expertise of ASICS Running Club coach Deepa Nayak while training and the Runkeeper app for runners to keep track of their progress. Furthermore, runners received assistance through the Foot ID test to determine the most suitable shoe recommendation for their feet and join the ASICS Running Club. These initiatives aimed to motivate runners in accomplishing their running objectives.

In a stride to promote holistic well-being, ASICS ongoing campaign ‘Nothing Feels Better’ aims to inspire individuals to make positive choices for their mental and physical wellbeing by incorporating movement into their lives. By collaborating with TCSW 10K Bengaluru marathon, ASICS recognizes the connection between a sound mind and a sound body, highlighting the importance of physical activity in achieving overall well-being.

The partnership between ASICS and the TCSW 10K Bengaluru reinforces their shared vision of promoting a healthy and active lifestyle, encouraging individuals to push their boundaries and discover their true potential through running. Speaking about the association, ASICS India & South Asia Managing Director, Mr. Rajat Khurana said “We are thrilled to partner with the TCSW 10K Bengaluru for the second consecutive year as the official ‘Sports Goods Partner.’ ASICS has been dedicated to inspiring individuals to embrace the transformative power of movement and achieve a ‘Sound Mind in a Sound Body.’ Through this association, we aim to empower runners of all ages to surpass their limits, set new milestones, and discover the sheer joy of running. With our revolutionary athlete focused design & technology, participants can expect an uplifting and energizing experience at the TCSW 10K Bengaluru.”

Honda Motorcycle and Scooter India Inaugurates BigWing in Panvel

Mumbai, June 1st,2023: Providing a differentiated immersive experience to premium motorcycle customers across the country, Honda Motorcycle & Scooter India (HMSI) today inaugurated an all-new premium big bike sales & service outlet – Honda BigWing at Panvel (Maharashtra).

Located at Munot Landmark, Ground Floor, Plot No-64-65/3, next to Garden Hotel, Panvel, Raigad, Maharashtra-410206, the facility aims to elevate the #GoRidin spirit amongst new as well as prospective customers.

Expanding their last-mile presence to cater to aspirational customers, the differentiated Silver Wing can be experienced at more than 100 operational touchpoints. In the state of Maharashtra, the company currently operates over 13 outlets with exciting premium offerings from HMSI. 

Diverse Product Portfolio

Honda’s premium motorcycle retail format is led by the BigWing Topline in top metros and BigWing in other demand centers. While the marquee Honda BigWing Topline houses Honda’s complete premium motorcycle range starting from the newly launched CB300F, CB300R, H’ness-CB350 and its Anniversary Edition, CB350RS, CB500X, CBR650R, CB650R, CBR1000RR-R Fireblade, CBR1000RR-R Fireblade SP, adventure tourer Africa Twin Adventure Sports, and flagship model Gold Wing Tour, the BigWing delights mid-size motorcycle fans of Honda.

Premium Experience

Adorned with the black & white monochromatic theme, BigWing showcases the displayed vehicles in their full glory. Resolving customer’s product related queries or accessories are the well-trained knowledgeable professionals at BigWing. Easing the journey from search to purchase, the dedicated website (www.HondaBigWing.in) is available for all detailed information. The online booking option on the website ensures a quick, seamless, and transparent booking experience for customers at their fingertips. Capturing real-time customer feedback, Honda BigWing is also actively available across all social media platforms.

Ensuring the safety and convenience of customers, Honda BigWing brings Immersive Digital Experience. The virtual platform allows customers to experience the complete fun motorcycle line-up, riding gear, and accessories in granular detail while sitting in the comforts of their home.

With the introduction of a new customization section for CB350 & CB350RS, the customers can now choose their own style and highlight their unique personality through their motorcycles. “My CB, My Way” has been specially curated to meet the ever-changing needs of the customers starting with six distinctive custom kits for CB350. These kits are available now across BigWing dealerships.

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