Category Archives: Business

Faering Capital Invests $30 Million in Vastu Housing Finance

Mumbai, October 19, 2023: Vastu Housing Finance Corporation Limited (“Vastu”) has closed a fund raise from Faering Capital, founded by Aditya Parekh and Sameer Shroff. The transaction is a secondary sale by funds managed by Multiples Alternate Asset Management and other shareholders of the company.

Vastu is a digitally enabled retail affordable housing finance company with a pan-India presence. With a technology-first approach and strong credit underwriting principles, Vastu has grown rapidly to an AUM of c.US$900 million, serving 15 states across India in 200+ markets.

Vastu’s award-winning proprietary technology platform, PULSE, has enabled a completely paperless digital experience and faster turnaround times for customers. Towards the goal of becoming a mortgage-led consumer lender serving the credit needs of emerging and aspiring India, Vastu has also set up a non-banking finance company (NBFC), Vastu Finserve in 2019, venturing into vehicle and MSME finance. Creating social impact lies at the core of Vastu, which focuses on lending to the low-middle income, mainly self-employed segment, and backing women borrowers.

Vastu has more than 40 lending relationships across leading public and private sector banks and leading financial institutions including National Housing Bank (NHB), State Bank of India (SBI), Bank of Baroda, Canara Bank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Union Bank, HSBC and others.

Vastu is among the fastest institutionally built and professionally led platforms to be rated at [ICRA] AA- and CARE AA- Stable and holds the highest rating on a short-term scale of [ICRA] A1+. Vastu’s asset quality is amongst the best in class, and it has been sustainably profitable with a PAT of over INR 285 crore in FY23. The company’s board of directors includes former RBI deputy governor Shyamala Gopinath, former global head of retail banking at Standard Chartered Bank, Viswanathan Ramachandran, former head of audit at KPMG, Natrajan Ramakrishna, former Chairman and Managing Director of Andhra Bank, R S Reddy, former Managing Director of NIIT Ltd, Vijay Kumar as Independent Directors.

Sudhir Variyar, MD and Deputy CEO of Multiples Alternate Asset Management Ltd. said, “We warmly welcome Faering Capital as shareholders of the company and look forward to working with them going forward. This marks another milestone in our partnership with Vastu, witnessing the evolution of a shared vision that has led to the establishment of an accomplished institution. Vastu’s growth mirrors Multiples’ commitment to fostering a long-lasting impact and driving profits with purpose.”

Sandeep Menon, Founder, MD & CEO, Vastu said, “We are happy to have Faering Capital join us as a valued partner. Aditya, Sameer and team have great domain knowledge in our industry and have been long-term supporters of Vastu. We look forward to having them as long-term shareholders.”

Aditya Parekh, Co-founder & Managing Director of Faering Capital said, “We are excited to partner with Sandeep and team and other shareholders in the Vastu journey. Housing finance and specifically affordable housing are multidecadal opportunities in India. Having tracked Vastu’s progress over the last few years, we are confident that the company is well on its way to build a highly profitable, large and respected institutional franchise focused on affordable housing finance.”

Nikita’s Nawalgarh Imprint: Crafting Elegance and Heritage at Bindani by Jigar & Nikita

In a world that races towards the future, where trends change faster than you can say ‘smartphone’, the essence of heritage and culture often seems like a distant echo. Fashion serves as a time-travelling vessel, offering a journey to the sophistication of the Mughal era, the vivid hues of the ’70s, or the regal charm of traditional royal clothing. Recognizing the importance of revitalising cultural preservation, Bindani wholeheartedly embraces its Indian heritage, drawing inspiration from the vibrant cultural mosaic of Rajasthan.

Founded by the visionary duo Jigar and Nikita, Bindani has been synonymous with exquisite craftsmanship and timeless fashion. Nikita, one-half of the creative force behind Bindani, shared, “Nawalgarh holds a special place in my heart. Its heritage, colours, and stories have always fascinated me. Through our designs, we aim to bring a piece of Nawalgarh’s magic to the world, blending it seamlessly with contemporary fashion.” Reflecting the spirit of Nawalgarh’s vibrant streets, majestic havelis, and the warmth of its people, Bindani meticulously crafts works of art that capture the grandeur and splendour of Rajasthan’s royal legacy.

Featuring an array of ensembles, from opulent bridal wear to elegant evening dresses and regal menswear, the designs draw inspiration from Nawalgarh’s architectural marvels, intricate frescoes, and the vibrant colours of its bustling bazaars. Bindani’s signature craftsmanship shines through, with intricate embroidery, exquisite detailing, and luxurious fabrics that embody the essence of luxury and tradition. When one chooses to wear a Bindani creation, it’s not just about embracing fashion; it’s about adorning oneself with art, a touch of elegance, and a generous sprinkle of culture.

Sustainable Construction Takes Center Stage at World of Concrete India 2023

Mumbai, 19th October 2023: Informa Markets in India, India’s leading B2B events organizer, today launched the 9th edition of World of Concrete India at the Bombay Exhibition Centre, Mumbai. The three-day event, which concludes on October 20, 2023, is a unique platform for all stakeholders in the concrete, construction, and infrastructure sectors to connect, learn, and explore the latest technologies and trends.

The grand inaugural of the show was marked by the presence of key dignitaries such as Shri Sanjay Bhatia, IAS, Upa Lokayukta, Maharashtra State & Former Chairman, Mumbai Port Trust & Former Vice Chairman & MD, CIDCO; Shri S. N. Reddy, President, Builders Association of India; Mr John McCadams Commercial Officer, U.S. Consulate Mumbai, India; Mr Gaurav Karnik, Real Estate National Leader and Tax Partnership, EY India; Mr V Ramgude, Chief Engineer, PWD, Government of Maharashtra Mr. Yogesh Mudras, Managing Director, Informa Markets in India; and Mr Rajneesh Khattar, Senior Group Director, Informa Markets India.

This year’s edition of World of Concrete India is poised to be a dynamic hub, bringing together over 10,000 industry experts and more than 200 exhibitors from around the world. The event features a comprehensive showcase of the latest products, technologies, and innovations in the concrete sector, with a focus on sustainability. Some of the key exhibitors participating in the event include Ambuja Cement, Amchem Products, Asian Paints, Reliance Industries, Concrete Additives & Chemicals, Sika India Pvt Ltd, Godrej Constructions and many more.

Emphasizing on digital transformation and infrastructural development, Mr. Sanjay Bhatia, IAS, Upa Lokayukta, Maharashtra said, “India’s remarkable progress in digital platforms, exemplified by the success of T-payments and UPI, positions our country at the forefront of the global digital landscape. Trust is the linchpin of success in business and dispute resolution. Moreover, India’s commitment to massive infrastructure development is evident with plans for 600 new modern railway stations and the construction of 100 new airports, reflecting a profound dedication to modernization and nationwide transformation. Trust in public-private partnerships and decision-making is paramount, ensuring the smooth execution of projects and fostering a win-win environment for all stakeholders. Events like the World of Concrete India, play a crucial role in bringing together industry leaders and fostering collaboration, making these ambitious endeavors even more successful.”

Stressing on sustainability and lowering the carbon footprint, Mr V Ramgude, Chief Engineer, PWD, Government of Maharashtra said, “With the construction industry’s rapid expansion, life cycle cost considerations and sustainability have become paramount. Material selection must prioritize sustainability, functionality, and durability, and meeting Indian standards. Construction depletes vital resources like metals and sand, so we’re exploring geosynthetics and ultra-high-performance fiber-reinforced concrete to reduce our carbon impact. Active participation and hands-on experience enhance comprehension, so events like World of Concrete India are essential for fostering training and awareness. Our goal is to build architectural wonders, but the shortage of skilled engineers and labor poses safety risks. Through education and awareness, we can reduce errors and encourage the development of a talented workforce to achieve our goals.”

Emphasizing on the significance of the event, Mr Yogesh Mudras, Managing Director, Informa Markets said “World of Concrete India 2023, a prominent event in the construction industry, takes centre stage amidst significant developments in India’s construction sector. The sector employs an estimated 71 million workers as of 2023 and aims to reach 100 million by 2030 to support the national economic growth. Government initiatives like Housing for All and Smart City Projects are propelling urban infrastructure and construction development. The surge in demand for residential housing, driven by increased urbanization and rising household incomes, further underscores the industry’s potential.”

World of Concrete India 2023 is our commitment to this landscape and aligns perfectly with India’s mission to enhance urban infrastructure. Simultaneously with the business, our show floor will be abuzz with an exciting lineup that includes the unveiling of a white paper on ‘AI in Construction’ CEO and CTO discussions on industry challenges, and milestone achievements. Additionally, there are numerous components like product launches, showcases, masterclasses, B2B meetings, and specialized pavilions for waterproofing and dry mortar. Together, these create a comprehensive and enlightening event to learn about the latest trends and technologies, and explore sustainable solutions in the concrete, construction, and infrastructure sector,” he further added.

The expo received substantial support from esteemed associations like Builders Association of India (BAI), National Highways Builders Federation (NHBF), Construction Equipment Rental Association (CERA), Waterproofers Association of India (WAI), National Small Industries Corporation (NSIC), Indian Concrete Institute among others.

The show also features alluring events such as the unveiling of a white paper on ‘AI in Construction Projects’, the much-coveted CEO and CTO forums and the recognition of significant achievements and excellence in real estate and infrastructure through awards.

Celebrate Diwali in Style with JW Marriott’s Exclusive Hamper designed by Manish Malhotra

This Diwali, JW Marriott Bengaluru is delighted to present a fusion of elegance and mindfulness in the form of exclusive Diwali hampers designed by the iconic Manish Malhotra and our Shunya boxes. These offerings are designed to enrich your celebrations with style and well-being, making them truly special. Savor a delectable assortment of macarons, a symbol of luxury, along with an array of traditional Indian sweets. These hampers are curated with bespoke goodies that are as unique as they are delicious, each one carefully chosen to enhance your Diwali celebration. Our Shunya boxes are meticulously crafted with handpicked natural ingredients, inspired by the lush, serene mountains of Uttarakhand. They are a dose of Pahadi goodness that transports you to nature’s calm embrace. Processed using traditional methods and nurtured by the love and hard work of over 500 female village farmers from 11 villages, each situated at a height of 7000ft above sea level, our Shunya boxes promote good health and wellness. These are not just gifts; they are an embodiment of the festive spirit and an elegant way to express your love and warm wishes. Whether for family, friends, or colleagues, gifting these hampers is a gesture of love and celebration.

Elevate your Diwali gifting experience with the elegance of Manish Malhotra and the mindfulness of Shunya boxes. Order your exclusive Diwali hamper or Shunya box today and let your celebrations shine with style and serenity.

Product Details: (Exclusive of tax)

JW Specific –

• JW Signature Handcrafted Chocolate Box – 1250 onwards
• JW Handcrafted Macaroons Box – 750 onwards
• JW Mithai Box – 1250 onwards
• JW Emerald Hamber (contains cookies, sweets, nuts, honey, diya/toran/idol, and chocolates) – 3500
• JW Opal Hamper (contains homemade chocolate bar, homemade cookies, roasted nuts, caramel spread, premium wafer, premium coffee, premium honey, diya/toran/idol, and chocolates) – 5500
• JW Moonstone Hamper (contains homemade cookies, Indian sweets, healthy chocolate bar, Italian herbed cashew, Italian herbed almonds, zesty spinach nachos, quardartini wafers, premium coffee, organic tea, scented luxury candle, premium honey, beetroot crisp, handcrafted chocolates, and diya/toran/idol) – 8500
• JW Imperial Hamper (contains handcrafted chocolates, homemade cookies, healthy chocolate bar, Italian herbed cashew, Italian herbed almonds, quardartini wafers, shortbread biscuits, simpkins jelly, premium coffee, organic tea, scented luxury candle, premium honey, beetroot crisp, Forest essential gift hamper, and diya/toran/Ganesh) – 12000 or 18000

Diwali by Manish Malhotra –

• 18 pieces sweet box – 1500
• 36 pieces sweet box – 3000
• Nuts and Sweets – 2000

JW Shunya – India Hamper Boxes –

• Pancha Bhuta Collection Shunya Hamper Box (contains lavender, jasmine, rose, panch tulsi, and brahmi blend) – 3500
• Welness Tisane Box Shunya Hamper box (contains classic Humalayan damask rose, liver booster, stress relief, detox and cleanse, classic Himalayan stinging needle, classic Hmalayan kalmegh, and black turmeric honey) – 2000

To place order please reach out to 8884420220

SMA Sapience Celebrates Grand Opening of Global Competence Center in Bengaluru

19 October, 2023, Bengaluru: SMA Solar Technology AG, a renowned German multinational inverter company, leading the way in Solar PV Inverters, Energy Storage, and Power Electronics, is delighted to announce the successful grand opening of its Global Competence Center -SMA” Sapience” in Bengaluru, Karnataka. The celebration was held at the prestigious Hilton Hotel, Manyata Business Park, on the 18th of October, 2023.

The company’s Global Competence Opening Celebration marks a significant milestone in SMA Global’s history as it establishes a hub to cater to its worldwide installation base and customers. The event highlights the deep commitment of this prominent German MNC to the Indian market and its global operations.

Ms. Barbara Gregor, CFO of SMA Solar, Global Competence Center expressed her excitement about the event, stating, “We are truly honored to inaugurate our Global Competence Center – SMA ”Sapience” in Bengaluru, India. This marks a pivotal moment in SMA Solar’s journey, and we look forward to furthering our commitment to renewable energies and the Indian market.”

Distinguished guests and dignitaries graced the momentous occasion, including top executives and esteemed dignitaries Amita Bagga, Head of SMA Sapience, Bengaluru, India, Mr. Friedrich Birgelen, Deputy Consul General – German Consulate General Bangalore, Hariram Prabhakaran Head of Industry Solutions – Large Scale SMA Solar Technology AG, Kai Ludolph – Head of Project Engineering Services at SMA Solar Technology AG was present. Additionally, the event hosted Dr. Jai Asundi, Executive Director, Center for Study of Science, Technology and Policy, Bangalore, and Mr. Idris Mohammed, Climate Change Advisor from Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH.

Establishing the Global Competence Center in Bengaluru solidifies SMA Solar’s commitment to driving innovation in renewable energy and enhancing its service to global customers.

Pluckk launches “Eat Good, Do Great” campaign with Kareena Kapoor Khan

Mumbai,19th October 2023:Pluckk, India’s pioneering lifestyle-oriented fresh food digital brand, known for revolutionizing the way Indians consume fresh fruits and vegetables, is making headlines with its groundbreaking campaign “Eat Good, Do Great.” Celebrated for its unwavering commitment to quality and innovation, the brand has forged a dynamic partnership with none other than Kareena Kapoor Khan, a celebrity renowned for challenging industry norms. Together, they are set to inspire a new era of fresh, wholesome living through the “Eat Good, Do Great” campaign.

In the new brand film, Kareena Kapoor Khan enthusiastically announces her decision to take a much-needed break—specifically, a break from worrying about what her family eats. She attributes this newfound peace of mind to Pluckk, a name she trusts. This message is meant for busy homemakers and working women who often find themselves short on time for high-quality fresh food shopping. Kareena emphasizes that Pluckk’s1000+ farmers are dedicated to delivering safe, clean, and exceptionally fresh fruits and vegetables, eliminating the need for such concerns. She goes on to encourage viewers to grant themselves a well-deserved break from the monotony of traditional food choices and explore the vast array of options offered by Pluckk such as Exotics, Organic, Hydroponic, DIY Meal Kits, and more. As she aptly concludes, “Eat Good, Do Great.“

Unveiling the new brand campaign, Pratik Gupta, CEO & Co-Founder of Pluckk said, “The key goal of this campaign is to spread our message about consuming high-quality fruits & vegetables and enjoying what you eat. The differentiation we have built with Traceability to know your farmer &Ozone- Washed for safer eating,coupled with our innovative products really sets us apart in the market. We make it easy for the modern Indian consumer to improve their lifestyle choices by allowing them to browse & purchase by food and health trends which has made a real difference in their lives. Kareena being a mother herself, is the perfect ambassador to spread our message of Eat Good. Do Great to all Indian families”

On this exciting partnership, Kareena Kapoor Khan mentioned, “Pluckk is a brand that I personally relate to and believe in. This campaign captures very well what Pluckk is solving – providing Indian families with the highest quality. With their unique innovations like Traceability & Ozone-Washed, I can now trace my produce back to the farmer and get the added benefit of eating fresher & safer. Pluckk’s product range keeps everyone in my family excited and engaged around fruits and vegetables. There is always something new to discover on Pluckk with their exciting categories like exotic fruits, stuffed veggies, salads &DIY meal kits. It really is time to Eat Good. Do Great”

Infrastructure advancement attracting real estate investments in Boisar

Boisar is predominantly characterized as a mid-segment locality, with residential apartments accounting for nearly 80% of the inventory. Around 60% of these residential units are 1 BHK apartments, while the majority of the remaining flats are 2 BHK units. The neighborhood primarily exhibits the greatest demand for 1 BHK apartments, resulting in a commendable annual rental yield of 4% for investors.

In the vast expanse of Mumbai’s real estate market, Boisar is emerging as a beacon of potential destination, ready for significant expansion and transformation. This vital location between Mumbai and Gujarat is undergoing a spectacular transformation, powered by massive infrastructure upgrades. These improvements are not only improving connectivity but also altering the area’s economic landscape, making Boisar an appealing possibility for both investors and homebuyers.

“The infrastructure upgrades in Boisar represent more than just improved connectivity; they represent a significant shift in the region’s economic landscape,” Mr. Prashant Khandelwal – CEO, Agami remarked of the development. “Boisar is on the verge of undergoing a transformation, making it an excellent choice for real estate investments. These projects will open up hitherto unseen possibilities, resulting in a thriving and sustainable community,” adds Mr. Khandelwal.

Boisar and the Bullet Train Revolution

One of the most significant factors changing Boisar’s future is its inclusion in the Mumbai-Ahmedabad bullet train project. The introduction of this high-speed rail line promises to revolutionise connectivity, crossing the gap between Boisar and key centres like BKC, Thane, and Virar in under 35 minutes. This quantum increase in transit infrastructure is projected to spark a real estate boom, making Boisar an alluring destination for property investors and enterprises searching for strategic positions.

The Mumbai-Delhi Expressway: A Lifeline for Boisar’s Growth

The Mumbai-Delhi Expressway. is another critical project determining Boisar’s future. This broad roadway not only improves travel but also serves as a catalyst for economic growth along its path. Boisar, which is strategically located along this motorway, will gain greatly. Because of the enhanced road connection, businesses are flocking to the area, making it an excellent alternative for individuals looking for active investment prospects.

Enhanced Rail Connectivity: The Virar-Dahanu Section

The ongoing four-lining of the Virar-Dahanu railway stretch strengthens Boisar’s appeal. This project will improve rail connectivity, making Boisar more accessible to both commuters and companies. The free flow of people and commodities is projected to boost the region’s economic prospects, attracting new investments and contributing to its growth.

Vadhavan Port: Propelling Industrial Growth

The impending Vadhavan Port, which is set to become India’s third-largest port, is set to change Boisar’s economic landscape. This ambitious initiative is expected to boost industrial growth in Boisar by attracting significant investment and creating a plethora of job possibilities. As industrial activity increases, the need for housing and commercial space in Boisar is expected to rise, making it a prime location for real estate investments.

Coastal Road Extension: Linking Boisar to Progress

The extension of the Mumbai-Virar route to Palghar via the Coastal route is a key milestone for local connectivity. As a result of being a part of this development, Boisar now has better access to neighbouring areas. This improved connectivity not only benefits locals but also increases the region’s attractiveness to businesses and investors, boosting economic growth in Boisar even further.

Boisar’s Industrial Prowess: An Employment Magnet

Boisar’s reputation as a well-developed industrial centre precedes it. With over 1500 industrial units producing everything from steel to plastic, Boisar has become a magnet for job seekers. The presence of Maharashtra’s largest MIDC and the Tarapur Atomic Power Station highlights the area’s economic prowess, boosting demand for homes and business facilities.

Price Appreciation: Boisar’s Bright Future

Property values are set to rise significantly as Boisar’s infrastructure undergoes a dramatic change. The incorporation of Boisar into the bullet train network, as well as its strategic site along the Mumbai-Delhi Motorway and other significant initiatives, ensure a promising future for real estate investors. According to industry experts, these developments will catalyse economic growth, making Boisar a focal point of development in the Mumbai metropolitan region.

Finally, Boisar’s real estate market is seeing a revival, fueled by creative infrastructural initiatives that promise to change the city’s future.

Chai Sutta Bar Expands its Chai and Beverage Delights to the World Cup Spectators in Dharamshala

New Delhi, 19th October 2023 – Chai Sutta Bar, the largest tea chain globally renowned for its unique concept and authentic tea experiences, is proud to announce the grand opening of five new kiosks in 5 Matches at the HPCA Stadium in Dharamshala, India, just in time for the prestigious World Cup matches. The kiosks will offer a delightful range of chai, cold coffee, and sandwiches to enhance the match-watching experience for fans.

Chai Sutta Bar, founded in 2016 by Anubhav Dubey and Anand Nayak, has quickly become the largest tea chain in the world. With its humble beginnings in Indore, the company was established with a simple yet powerful idea – to serve the most consumed beverage in India, chai (Tea), in a contemporary and inviting setting. Over the years, Chai Sutta Bar has emerged as the go-to destination for youngsters seeking the perfect environment to unwind and savor a cup of chai.

With an astonishing daily output of 4.5 lakh kulhad teas, Chai Sutta Bar has successfully carved a niche in the hearts of its customers, offering not just a cup of chai but an experience. The brand has experienced remarkable growth and now boasts a turnover of over 150 crores, with more than outlets spread across 300+ cities in India.

The decision to expand to the iconic HPCA Stadium in Dharamshala is a testament to Chai Sutta Bar’s commitment to serving quality beverages in unique and high-energy environments. This expansion aligns perfectly with the company’s vision to make its offerings accessible to diverse audiences nationwide.

Chai Sutta Bar would like to clarify that its name, although suggestive of smoking and a bar, does not promote using harmful substances. The organization is committed to promoting a healthy lifestyle and works closely with local authorities in the areas where its outlets are situated to contribute positively to society.

The five new kiosks at HPCA Stadium are not just places to grab a quick bite or a refreshing drink but an extension of the warm and friendly Chai Sutta Bar experience.

Anubhav Dubey, Co-Founder and CEO of Chai Sutta Bar, expressed his excitement about the new venture, saying, “We are thrilled to be a part of the World Cup fever in Dharamshala. Chai Sutta Bar has always been about offering an experience, and we aim to make every match memorable for the spectators with our authentic chai, cold coffee, and delectable sandwiches.”

Anand Nayak, Co-Founder of Chai Sutta Bar said – ‘’Chai Sutta Bar’s journey has always been about love for chai and the shared experience of enjoying it with others. We’re honored to extend our warm and inviting atmosphere to the cricket-loving community in Dharamshala during the World Cup. Our promise is to elevate your match-watching experience, one sip at a time’’.

Chai Sutta Bar invites all cricket enthusiasts and chai lovers attending the World Cup matches in Dharamshala to drop by and experience the joy of sipping their favorite beverages while watching their favorite teams in action.

Qoruz Diwali 2023 Report: Harnessing The Power of Influencer Marketing in India’s Rs.90,000 Crore Festive Market

Bengaluru, October 19, 2023: As the spirit of Diwali spreads across the country, brands find themselves in a bustling market worth a staggering ₹90,000 crore, filled with promising opportunities. Today, Qoruz, the leading influencer marketing platform, unveils its comprehensive Diwali 2023 Report, revealing the interplay between consumers and influencers.

The report provides valuable insights into the impact of influencer marketing on brand promotion during the festive season.

Key Highlights

• Collaboration Trends: Over the past two years, there has been a remarkable 21% increase in influencer collaborations, reflecting the strengthening of partnerships between brands and influencers. Brands today allocate over ~₹300 crore for influencer marketing during the festive season.

• Engagement with Influencers: A staggering 80% of Diwali shoppers actively engage with influencer-led content, reaffirming influencers’ central role in shaping consumer preferences. Influencer marketing is 1.5x effective on millennials as compared to other age groups like boomers and Gens X and Z.

• Changing Consumer Behaviours: Over the past decade Indian e-commerce has grown by 20x, with a 15x jump in annual transacting user base. This figure spikes during Diwali, with 45% of shoppers anticipating increasing their online spending this festive season.

• Geographical Breakup: 50 million e-commerce buyers come from tier 2 cities and lower, while the remaining 25 million are from the nation’s metros.

Diwali Influencer Campaigns – A Sector-wise Breakdown

The largest influencer marketing spends sector-wise comes from personal care at 20% followed by food & beverage at 16%. Despite this, mobile phones have seen the largest growth in spends during Diwali, up 48% in 2022 compared to 2021.

• Food: Food Influencers from tier 2 & 3 cities have outperformed their tier 1 counterparts. Nano influencers recorded a remarkable 9.49% engagement rate during Diwali 2022.

• Home Décor: Bengaluru emerges as the hub for successful home décor influencer campaigns, with nano influencers boasting an impressive 9.09% engagement rate.

• Fashion: Fashion brands experience heightened engagement, particularly through micro and nano influencers. During Diwali 2022, nano influencers achieved an impressive engagement rate of 7.1%, surpassing their macro and mega counterparts, whose engagement sat at 1.2 and 1.1% respectively.

Emphasising the significance of this report, Praanesh Bhuvaneswar, Co-Founder and CEO at Qoruz, said, “In the dynamic world of influencers, our Diwali 2023 Report underscores the pivotal role of influencer marketing, especially during the festive season. Influencers are poised to be the next significant evolution in the marketing industry. With their innovative thinking and capacity to influence consumer choices, no brand can overlook the impact of influencers. At Qoruz, we’re proud to lead the way in facilitating these connections.”

Marketing Strategies for Brands to Win Diwali

Influencer collaborations have seen a 21% increase during Diwali over the last two years. This has culminated in more than 67,000 posts across a network of 22,000 influencers, amassing total engagements of 5.3 million and 3.7 million video views.

• Influencer-led content not only resonates with consumers but also garners their trust through authenticity.

• A significant 66% of Diwali shoppers make purchasing decisions based on influencer recommendations.

• User-generated content (UGC) greatly influences 79% of purchasing decisions, underscoring the value of authentic customer relationships.

• Regional language campaigns are effective, as 53% of Diwali shoppers prefer content in their regional language, highlighting the importance of linguistic relevance.

• The maximum impact is achieved through a combination of paid advertisements and influencer campaigns. However, choosing the right influencer for Diwali campaigns is crucial.

“Content marketing through the consumer’s device-agnostic journey will be critical, and in the upcoming festive season, mobile and moment marketing should be a key focus therein. Second, influencers are considered primarily for mid-funnel marketing. However, considering the breakthrough in the creator economy, and related consumer behaviour , this festive season brands can explore a full-funnel influencer strategy to maximise ROI”, shared Chaaya Baradhwaaj, Founder, Managing Director, BC Web Wise.

Commenting on the importance of choosing the right influencer partners, Sooraj Balakrishnan, Head of Marketing, Acer, said, “In the dynamic world of influencers, authenticity stands out. Brands must forge genuine connections, ensuring shared values with influencers. A collective of micro-influencers often resonates more profoundly than a single celebrity, particularly during festive times.”

In India’s evolving digital landscape,the ongoing rise of online shopping is set to be transformed by influencer marketing, becoming an integral part of the festive shopping experience for years to come.

Mithaicana’s Sweet Sensation Sweeps Through Bangalore with Grand Store Opening This Festive Season

India, 19th October, 2023 – In a sweet endeavor this festive season, Mithaicana, a brand committed to preserving the rich flavors – classic to contemporary Indian sweets, launched its first retail sweet shop and experience store in Bangalore. Nestled in the heart of Marathahalli, Bangalore, the outlet aims to rekindle the original tastes and cherished memories associated with authentic Indian sweets.

A glorious paradise with 250 delectably diverse Mithai options, beautiful decor, and 50 types of Indian sweet gifting, the outlet takes pride in providing a one-stop shop for all celebrations. Amongst its standout offerings are Kaju Katli, Motichoor Laddoo, Rasgula, Rasmalai, and Mysore Pak, each meticulously crafted to perfection. Each bite is a journey back in time to the nostalgic tastes of our traditions.

Mithaicana, the custodian of timeless to trendy Indian sweets and flavours, is not only celebrating its grand entry into Bangalore but also setting its sights on a dynamic expansion plan in the coming months. In the coming 18 months, the company aims to open 5 more outlets strategically positioned throughout Bangalore, ensuring the city can savour the authentic essence of our Indian sweets.

In the next phase of its expansion, Mithaicana is targeting the vibrant markets of Mumbai and Pune regions. These cities, known for their diverse culinary preferences, will soon experience the enchantment of Mithaicana’s transitional sweets.

When discussing the inaugural of the Bangalore outlet, Ashwani Jasti, Founder of Mithaicana remarked, “I am thrilled to bring the sweet traditions of India to the vibrant city of Bangalore with the launch of our first Mithaicana shop. What sets Mithaicana apart is its unwavering dedication to utilizing local and natural ingredients, like pure ghee, milk, etc. in crafting its sweet delicacies. Mithaicana is not just about sweets; it’s about reliving cherished memories, and I cannot wait for everyone to experience the magic of our culinary heritage! We hope to carry the traditional flavours across every nook and corner of the country and grow the delight of authentic Indian sweets in India.”

To enhance the festive celebrations, Mithaicana has introduced customizable pre-orders, adding a sweet touch to your special gatherings. With Dussehra just around the corner, the brand is delighted to announce that orders are now being accepted, so you can infuse sweetness into your upcoming celebrations!