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Merakkee Beauty Ltd raises Rs 4.5 crore in seed funding round

April 1, 2025Latest NewsAdmin

Merakkee Life & Beauty Pvt Ltd, a luxury skincare startup has raised Rs 4.5 crore ($530K) in a seed funding round led by a Bangalore-based family office.

The company will utilise the funds to expand its product line, scale operations, support pilot order fulfillment, strengthen sales and operations teams, and enhance platform technology to improve customer engagement.

Additionally, it plans to expand its range of luxury skincare products to cater to diverse skin types and specific concerns.

Commenting on the funding, Ajit Kurien and Robin Kurian, founders of Merakkee in a joint statement said, “We are thrilled to have secured this funding, which will allow us to accelerate our growth journey and introduce innovative skincare solutions to our customers.”

“At Merakkee, we eliminate the confusion around wellness by offering products formulated with active and energized ingredients in the perfect combination. Emphasizing inner balance, we strive to build and empower a community by providing solutions tailored to each person’s unique needs and values,” they added.

Founded in 2022, Merakkee will launch its products in the Indian market later this year. The company has its manufacturing facilities in France and India.

Author Credits: Maverick Martins, FASHION NETWORK

Saudi Arabia’s consumer spending to stay resilient, experts say

April 1, 2025Latest NewsAdmin

Millennials and Gen Z consumers will continue driving demand for e-commerce and cross-border retail
Government spending and economic diversification are playing a vital role in stimulating consumer spending

RIYADH: Consumer spending in Saudi Arabia is expected to stay robust this year, driven by a youthful population and digitalization, according to multiple experts.

Speaking to Arab News, Sunil Kumar, CEO of supermarket chain Spinneys, said that consumer spending in the Kingdom is expected to witness a compound annual growth rate of 6.4 percent from 2022 to 2028, while UAE will see an expansion of 4.3 percent during the same period.

The views of Kumar align with the findings of a recent report published by global consulting firm AlixPartners which said Saudi Arabia’s consumer market is evolving rapidly, characterized by adaptability, shifting spending patterns, and resilience in the face of global economic challenges.

Spinneys’s CEO explained that as the Saudi and UAE economies continue to achieve growth, consumer confidence remains strong, fueling demand for premium products.

“Convenience is another important factor, with the accelerating penetration of aggregators, as well as proprietary e-commerce platforms like our own, making fresh, premium products quickly and easily accessible,” he said.

Factors driving consumer spending

Usman Iftikhar, principal in the retail and consumer goods practice for India, the Middle East, and Africa at Oliver Wyman, told Arab News that strategic government investments, digital advancements, and tourism initiatives are some of the major factors that are driving the growth of consumer spending in the Middle East and North Africa.

Iftikhar added that the MENA region now has a dynamic and evolving marketplace, fostering increased demand for a wide range of goods and services.

“The region has a young and growing population, which drives demand for goods and services, particularly in sectors such as education, technology, and entertainment. For example, in Saudi Arabia, one of the largest markets in the MENA region, more than 60 percent of the population is under the age of 30,” said Iftikhar.

He added: “Government spending and economic diversification play a vital role in stimulating consumer spending. Many countries in the region are investing in infrastructure, tourism, and non-oil sectors, boosting employment and consumer confidence.”

The Oliver Wyman official added that increased internet penetration and smartphone adoption are fueling e-commerce growth in the region, and is reshaping how consumers shop.

Jim Liu, general manager of AliExpress for the GCC region, shared identical views and told Arab News that consumer spending growth in the MENA region is fueled by rapid technological advancements, evolving consumer preferences, and a digitally native, mobile-first population.

“Structural reforms, increased investments in digital infrastructure, and the rise of payment solutions are further enhancing online retail accessibility,” said Liu.

Speaking to Arab News in February, Ali Bailoun, regional general manager of Visa, also highlighted how consumer retail spending in the Kingdom is expected to grow significantly in the coming years, with the share of e-commerce in the overall sector projected to reach 46 percent by 2030.

All these views align with Saudi Arabia’s ongoing transition toward a diversified, digitally-driven economy, with e-commerce playing a crucial role.

Sectors benefiting from increased consumer spending

Experts told Arab News that several sectors including electronics and gadgets, food and beverages, entertainment and leisure, and travel and tourism, will be the beneficiaries of increased consumer spending in Saudi Arabia and the wider Middle East region.

According to AlixPartners report, groceries and clothing categories are expected to dominate as key spending categories in 2025, with consumers prioritizing value-driven deals and savings.

Highlighting the growth of the entertainment sector in the Kingdom, the analysis added that 33 percent of Saudi consumers plan to increase spending on entertainment outside of the home, well above the 19 percent global average.

“Entertainment and leisure activities are seeing increased demand as disposable incomes rise. For instance, Saudi Arabia’s Vision 2030 aims to boost household spending on entertainment from 2.9 percent to 6 percent by 2030, reflecting a growing appetite for cinemas, theme parks, and recreational activities,” said Iftikhar.

He added: “The travel and tourism sector is rebounding, with hospitality and airlines benefiting from renewed consumer interest.”

Kumar said that sustained economic growth and rising disposable incomes in Saudi Arabia and the UAE are having a very positive impact on grocery shopping.

“The fresh food segment continues to see especially strong demand, driven by a growing consumer preference for high-quality, healthy and sustainably sourced products. At Spinneys, fresh food accounted for more than 63 percent of sales in 2024, with standout performances by product categories including fresh fruit, premium berries and organic products,” added Kumar.

Liu said that strong economic policies are elevating business confidence in the region, with consumer spending expected to increase significantly in tech gadgets.

“At AliExpress, we see this trend reflected in high demand for tech gadgets, fashion, household electronics, and lifestyle products — categories where consumers are prioritizing quality, affordability, and convenience,” added Liu.

The impact of inflation

According to Oliver Wyman’s Iftikhar, inflation and global economic uncertainty are significantly affecting purchasing behavior among consumers, creating a sense of cautious optimism regarding overall spending.

Citing a survey carried out by his firm, Iftikhar said that 31 percent of households in Saudi Arabia reported a drop in income during 2024, with 11 percent experiencing declines of more than 50 percent.

The findings revealed that to save money, many consumers are changing their shopping behaviors, with 48 percent of those surveyed reporting comparing prices, and 46 percent actively looking for stores that offer lower prices.

“Retailers must adapt to these shifting behaviors to meet the evolving needs of a consumer base increasingly focused on maximizing value,” he added.

Kumar of Spinneys shared a different view and noted that the company is not seeing a slowdown in spending in response to inflation, with consumers instead preferring high-quality products, especially in the food sector.

Liu also shared similar views and said: “At AliExpress, we are seeing sustained growth in the region as more consumers turn to our platform for high-quality products at affordable prices — items they would typically pay more for elsewhere. This shift highlights the increasing importance of affordability, promotions, and personalized shopping experiences in maintaining customer trust and loyalty.”

Consumer spending: The future outlook

Iftikhar also outlined several key trends that will reshape the consumer spending pattern in the Middle East region over the next few years, with a particular focus on the rise of artificial intelligence.

“AI revolution is gaining traction, with over 50 percent of customers in the GCC expressing excitement about the potential of generative AI to enhance their online and in-store experiences. Generative AI can significantly reshape the consumer experience by enabling companies to tailor products and offerings more effectively,” said Iftikhar.

He added that personalization is becoming a key differentiator in consumer expectations, with more than 60 percent of customers interested in tailored promotions and recommendations.

Liu said that the future of consumer spending in MENA will be shaped by digital-first retail strategies, economic diversification, and a mobile-driven shopping culture.

“The region is undergoing a payment revolution, with digital wallets and alternative payment methods like buy now, pay later gaining significant traction. Quick commerce is emerging as a significant sector, and this growth is driven by demand for rapid delivery across non-grocery categories like beauty, pharma, electronics, and fashion,” said Liu.

The AliExpress official added that millennials and Gen Z consumers, who expect seamless, tech-enabled shopping experiences, will continue driving demand for e-commerce and cross-border retail.

Focusing on the future of the retail food industry in the region, Kumar said that consumer spending in the GCC will be shaped by health, sustainability and convenience.

He added that the region is witnessing a rising demand for whole food sources, high-protein and nutrient-dense foods, as consumers become more conscious of the effects of processed eatables.

“Convenience remains at the forefront of consumer preference, with functional beverages and nutrient-dense snacks gaining traction. However, we expect this to evolve beyond speed and ease – with consumers now seeking hyper-personalized options that deliver on health, flavor and sustainability,” said Kumar.

Author Credits: Nirmal Narayanan, ARAB NEWS

Logistics startup Shadowfax converts to public entity in run-up to IPO

March 31, 2025Latest NewsAdmin

Flipkart-backed logistics startup Shadowfax has converted itself to a public entity, according to regulatory filings with the corporate affairs ministry.

It is a key step ahead of Shadowfax’s plan to file draft papers for its initial public offering (IPO), which could happen in the next three-four months according to people familiar with the matter. The company has appointed ICICI Securities, JM Financial and Morgan Stanley as the bankers for its public offering.

“The company is proposing to undertake an initial public offer… comprising of fresh issuance of equity shares… and an offer for sale by certain existing shareholders of the company, and list the equity shares on one or more of the stock exchanges,” it said in the filing.
Shadowfax’s shareholders approved the proposal at an extraordinary general meeting this month.

The firm, which is also backed by the likes of TPG NewQuest and Mirae Asset, closed a Rs 400 crore funding round led by Edelweiss Discovery Fund, family offices and high-net-worth individuals late last year, doubling its valuation to around Rs 6,000 crore in its last private funding ahead of the potential public listing.

In February, the startup appointed three independent directors on its board – consumer goods veteran Bijou Kurien, early-stage VC fund Synapses’ cofounder Ruchira Shukla and former Mahindra Logistics CEO Pirojshaw Sarkari.

In 2023-24, Shadowfax swung to Ebitda profitability with an operating profit of Rs 23 crore. The Bengaluru-based firm reported a 33% increase in operating revenue to Rs 1,884 crore, while cutting down its net loss by 92% to Rs 12 crore.

With the funding round, Shadowfax aimed to expand its offerings in the buzzy quick commerce sector and has been working as a third-party logistics service provider with firms including Nykaa.

The company has been seeing massive traction from rapid deliveries, with several brands and platforms moving to offer same-day and even faster delivery to customers across the country.

Founded in 2015 by IIT Delhi alumni Abhishek Bansal, Vaibhav Khandelwal, Praharsh Chandra and Gaurav Jaithliya, Shadowfax has transitioned to serving ecommerce clientele such as Meesho from initially being an on-demand logistics provider for food-delivery platforms.

Shadowfax’s move towards its IPO comes at a time when multiple new-age companies are looking to go public. These include ecommerce marketplace Meesho, eyewear retailer Lenskart, manufacturing firm Zetwerk, audio wearables brand Boat, at-home services platform Urban Company, jewellery retailer Bluestone, edtech firm PhysicsWallah and Zomato-backed Shiprocket.

Author Credits: msn

Rag & Bone launches Australian e-commerce site

March 31, 2025Latest NewsAdmin

American fashion brand on Monday opened its dedicated Australian e-commerce site, as the New York-based company looks to make further inroads in the southern hemisphere market.

The new online store will offer the full range of Rag & Bone’s men’s and women’s designs to the Australian online shopper, providing e-commerce visitors with an enhanced personalised shopping experience, easy navigation, secure payment options, and improved delivery with the opening of a new local warehouse in Australia.

“We are continually expanding Rag & Bone’s presence in Australia and am thrilled to include the roll-out of Rag & Bone e-commerce channel to the Australian market which gives us an opportunity to connect with our fans in a more meaningful way, delivering a personalised seamless end-to-end shopping experience,” said Paul Smith, managing director of Signal Brands Australia, the newly formed local distributor of Rag & Bone in Australia.

The e-commerce debut in Australia comes just months after Rag & Bone opened a new store in Sydney’s upscale Double Bay precinct in December last year.

Located at 31-33 Knox Street, the new store embodies Rag & Bone’s urban aesthetic, yet approachable, atmosphere, reflecting Double Bay’s chic sophisticated vibe. It houses a curated selection of the brand’s menswear and womenswear collections, including jackets, denim, outerwear, accessories, and footwear.

In early 2024, Guess Inc. and global brand management firm WHP Global announced a definitive agreement to acquire Rag & Bone.

As part of the acquisition, Guess took the reins of Rag & Bone’s operational assets, while jointly owning its intellectual property with WHP Global.

Author Credits: Benjamin Fitzgerald, FASHION Network

Government generic drug stores helped save 40% of medical bills for households: study

March 31, 2025Latest NewsAdmin

New Delhi: The government’s generic drug stores in Assam and Rajasthan have helped households save 40% on medicines, according to a study of nearly 500 people from the two states.

The study showed that two thirds of Jan Aushadhi consumers belonged to well-off households and in the case of more than half of Jan Aushadhi consumers, at least one family member is a graduate.

The Pradhan Mantri Bharatiya Janaushadhi Pariyojana (PMBJP) commonly known as Jan Aushadhi scheme is led by the department of pharmaceuticals. The drugs sold at Jan Aushadhi Kendras are generic medicines that are 50-80% cheaper than branded ones, according to the central government.

The research was conducted by the Centre for Media Studies, a non-government research think tank funded by Azim Premji University.

A sample of 496 households from the two states—Assam (districts Kamrup Metropolitan and Hailakandi) and Rajasthan (Churu and Jhunjhunu)—comprising 331 PMBJP-beneficiary households and 165 non-PMBJP households, were covered.

“63% of PMBJP-households belonged to high SLI and in more than half of PMBJP households have at least a member who is graduate or more-suggesting a correlation between education, SLI and PMBJP beneficiaries” said

“Major diseases for which medicines were purchased from PMBJP are diabetes, blood pressure and ulcer/gastric related ailments. Around 47.6% households purchased blood pressure medicines, followed by 40.5% households bought diabetes, 26.8% people purchased medicines related to ulcer/gastric and13.5% households bought cardiovascular drugs,” noted the study.

Savings reported

“On an average, PMBJP- households reported a savings of around ₹550 per month due to purchase of medicines from Jan Aushadhi Kendras. Around 1/4th of these households are saving more than Rs1,000 per month, constituting about 3% of their household income.”

“The Standard of Living Index is based on the different aspects we looked into such as number of assets in the family, educational qualification etc to that how we categorized the family into socio-economically. The focus of Jan Kendras is to benefit economically poor families who can’t purchase expensive medicines from general chemists’ shop. We randomly selected the families and later on administrating the survey and after analyzing the data we found that the families have better qualifications and they belong to high standard of living index or income group having around ₹30,000 and assets they own,” said Alok Srivastava, Director, CMS Social and principal investigator of the study.

“The savings, approximate 41% due to purchase of medicines from Jan Aushadhi Kendras has helped PMBJP-households to plan and improve their socio-economic status.

The purposes for which the households utilized their savings included getting nutritious food for family members (51%), avail better health facilities/treatment (25%), education 14% and house maintenance/assets (6%) and other purposes (3%), the study noted.

“The study shows that there is a lot of traction in the middle-income group families towards Jan Aushadhi medicines as they are able to reduce out-of-pocket-expenditure, particularly for chronic diseases and related medicines,” said Ravi Dadhich, CEO, Pharmaceuticals and Medical Devices Bureau.

For fiscal year 2025-26, the Union government has approved an allocation of ₹335.50 crore for the implementation of the Jan Aushadhi scheme. The government has set a target of opening 25,000 Kendras by March 2027.

Author Credits: Priyanka Sharma, Mint

H&M to create digital clones of models using AI

March 31, 2025Latest NewsAdmin

H&M is integrating artificial intelligence (AI) into its marketing strategy by creating digital versions of real-life models.

The AI-generated clones will then be used in select social media posts and campaigns, with permission from the models they duplicate.

“We are curious to explore how to showcase our fashion in new creative ways – and embrace the benefits of new technology – while staying true to our commitment to personal style,” said Jorgen Andersson, chief creative officer, H&M.

The first time model Vilma Sjoberg saw her digital twin; she found it both exciting and unsettling.

“It’s a picture of me, but it’s not me,” she said. “It was interesting how good it actually was.”

H&M added that this move will not replace its “human-centric approach”.

However, veterans in the fashion industry have raised concerns about its impact on models, photographers, and other creative professionals.

“On paper, it’s genius,” said Andrew Dobbie, founder and CEO of creative agency MadeBrave. “However, all the behind-the-scenes magic… the energy, networking, camaraderie, user-generated content, the real human stories that create amazing content – are all potentially sidelined.”

H&M told Business of Fashion that models will retain control over their digital likeness and can allow other brands, including competitors, to use them for marketing.

The company also confirmed that models will be compensated similarly to traditional licensing agreements.

H&M’s AI-generated models will appear in social media content with watermarks to indicate their digital nature. Full disclosure will also be applied to platforms such as Instagram and TikTok.

The company plans to create digital twins of 30 models this year.

Author Credits: Kaycee Enerva, Inside Retail

Vinsmera Group to invest Rs 2,000 crore in jewellery retail business

March 28, 2025Latest NewsAdmin

Vinsmera Group, promoted by Kambrath brothers plans to invest Rs 2,000 crore ($233.5 million) over two years to set up gold retail jewellery business in India and UAE.

The company will open 20 jewellery showrooms along with production units across India and the Gulf region over the next two years.

In the first phase, it plans to open showrooms in Kozhikode, Kochi, Thiruvananthapuram, Chennai, and Bengaluru, along with a state-of-the-art production facility in Kannur.

In the Gulf region, Vinsmera will open outlets in Abu Dhabi, Dubai, and a manufacturing unit Sharjah.

Commenting on the expansion, Dinesh Kambrath, co-founder of Vinsmera Group in a statement said, “Reimagining jewellery retail with a focus on craftsmanship, sustainability, and job creation is our priority. Vinsmera is not just a brand; it is a promise of quality and innovation. This large-scale initiative is expected to generate approximately 2,500 job opportunities, with a strong emphasis on women’s participation across jewellery manufacturing value chain.”

Leading Malayalam actor Mohanlal has been onboarded as the brand ambassador for Vinsmera.

Author Credits: Maverick Martins, Fashion Network

UAE EID AL Fitr: Gold shoppers will get a price shock after another record climb

March 28, 2025Latest NewsAdmin

Dubai: Shoppers in the UAE, Saudi Arabia and other Gulf states wanting to pick up jewellery as part of their Eid Al Fitr buys have received a big jolt – gold prices are in a record-setting race. New price peaks are being touched every few minutes, with bullion trading at $3,070 an ounce plus. So far today, gold is higher by an eye-watering $53.51.

Needless to say, the $3,070 plus levels are the highest gold has touched to date. It was in mid-March that it had broken through $3,050 an ounce.

UAE gold rate

The UAE gold rate gained Dh4 to be at Dh343 a gram for 22K, reflecting the steep increases in global bullion rates. Local rates had closed at Dh339.5 a gram for 22K, which itself was higher by Dh4.25 from just a week ago. And a significant Dh20 up on the UAE gold rate of March 1.

The Saudi gold rate for 22K is at SR347.

“The surge in gold prices will likely have a noticeable impact on Eid shopping,” said Anil Dhanak, Managing Director of Kanz Jewels.

“High gold prices often lead consumers to scale back their spending on jewelry and related items, as the cost becomes a significant concern. This could certainly result in subdued sales during the festive season, as shoppers may prioritize their budgets differently.”

The surge in gold prices will likely have a noticeable impact on Eid shopping

Anil Dhanak, Managing Director of Kanz Jewels — Anil Dhanak Managing Director of Kanz Jewels

“We had been expecting some sort of gold rush from UAE shoppers to make the imminent start of Eid Al Fitr holidays,” said a leading jewellery retailer in Dubai. “But a $50 spike today will be difficult to bear for a majority of shoppers. We hope they will still buy, even if the jewellery comes in at a fewer grams than they had planned on.”

Jewellery retailers are still hoping that Saudi tourists coming for the Eid break will still buy, to help the gain the VAT advantage. (Tourists to the UAE are re-compensated the 5% UAE VAT charges. In Saudi Arabia, the VAT is at 15%.)

All-out price shock for gold shoppers

“What’s happening today is an out and out price shock,” said a jeweller. “If shoppers were telling themselves that it’s OK to buy gold when it’s at $3,050 levels, they will need a lot of convincing to do so when prices are at $3,070.”

Gold purchases during Eid is one of the high-demand points in the UAE shopping calendar. Any drop in sales would then set up a difficult April for jewellers, more so with the Indian festival of ‘Akshaya Trithiya’ being on April 30. (The festival is marked by heavy gold purchase demand among Indian shoppers.)

What’s happening to gold?

A lot of things are happening at the same time when it comes to what’s driving gold prices. There’s the constant talk from President Trump on tariffs, and he’s jacked up those on car imports into the US to 25%. And on April 2, his administration is to announce a raft of more tariffs, all of which is jolting markets.

Amidst all this, the dollar’s also weakening, and that has spurred the heavy institutional investor interest in gold.

But what’s good for institutional investors is definitely not what gold shoppers want to be saddled with – i.e., record gold prices.

UAE gold shoppers have tried everything – exchange old for new (and made some seriously good pay-offs from that), booked early to lock-in prices, and waited for jewellers to offer discounts on making charges. Some have even waited for ‘no making charge’ offers.

Having done all that, consumers are hoping that gold prices will cool off from these $3,000 and over levels.

Can that happen? For that, there has to be less talk about tariffs for a start.

Author Credits: Manoj Nair, GULF News

Zeiss India launches omnichannel e-commerce platform Specslounge

March 28, 2025Latest NewsAdmin

Zeiss India has strengthened the optical retail presence of its business partners with the launch of an omnichannel e-commerce platform ‘Specslounge’.

The e-commerce platform will cater to consumer demands both in-store and online providing opticians with an additional sales channel.

Commenting on the launch, Rohan Paul, head of vision care at Zeiss India in a statement said, “We remain committed to enabling our business partners in their pursuit of doing successful business. Integrating digital solutions in overall purchase journey is a step to empower our business partners.”

“The newly launched platform does not change Zeiss’s core business-to-business model. Instead, it acts as a lead generation and sales enhancement tool for opticians, enabling them to expand their reach and attract new customers while maintaining strong relationships with existing ones,” Paul added.

Zeiss India’s e-commerce platform will also provide essential services such as eye tests, frame fittings, and expert consultations.

Author Credits: Maverick Martins, Fashion Network

Australian sellers can now list products on wildly popular Chinese shopping platform Temu

March 28, 2025Latest NewsAdmin

Exclusive: Australian businesses will now be able to sell their products on the wildly popular Chinese-owned online retailer Temu.

The e-commerce giant, which only launched in Australia in 2023, will offer its platform up for local sellers wanting to launch their business on Temu.

Temu said the launch will allow Australian shoppers to enjoy faster delivery.

“For consumers, the addition of local sellers means they’ll be able to enjoy a broader selection from Australia-based sellers on Temu,” said a Temu spokesperson.

“Local businesses can now tap on Temu as a low-cost channel to connect with millions of shoppers, creating new opportunities to expand and reach new customers.”

As is stands, standard shipping on Temu is free and for most items takes between six to 20 days.

For certain items, Temu does ship locally in Australia and delivery can be as fast as one business day. Providers that ship from local warehouses offer free shipping when certain thresholds are met.

For other items, express shipping costs between $19.95 and $89 as many of the goods sold on Temu are made and shipped from China.

Temu has already rolled out local business partnerships in the UK, US, Germany, Japan and South Korea.

The company claims more than 50 per cent of people selling products on its platform make a sale within 20 days.

Australian sellers wanting to list on Temu can sign up from today.

Temu, which is owned by Chinese parent company PDD Holdings, launched in the US market in 2022 and has become widely known for selling surprisingly cheap products.

It has since been made available to customers in 90 different markets.

Temu landed in Australia in March 2023 and was ranked as the country’s fastest-growing website with an increase of 72 per cent in visits year-on-year.

Author Credits: April Glover, 9 NEWS