Message from CEO’s desk for the new year 2021

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There will virtually be no global leader who would not cover Covid in their annual message, and this is no different for us too. Let us look at the top newsmakers for 2020 #FoodService industry –

  • Covid saw a lot of wind up in the global food service industry. Unfortunately, 30-40% of the food outlets will never open back. Large brands like Eat Fit &Swiggy’s private brands announced close down/hibernation of a number of their kitchens. We assume that they will be back stronger & better
  • Food delivery platforms have reportedly doing well, due to increased order value, lower discounting & some sanity that settled into the mad race
  • Consolidation & partnerships were the flavour of the season in India. Zomato eat-up Uber Eats. While on the partnership level, we saw Wow Momo joins hands with CCD, Rebel Foods joined hands with Wendy’s and so on so forth
  • Loads of QSRs, Casual Dine Restaurants (CDR) & others who were never into cloud kitchen business model opened up brands in the cloud. Eg- BBQ nation, Chaayos, Carnival cinemas, Lite bite foods, Ibis hotels & many others. Even the likes of TAJ, ITC &Marriotts opened up their delivery business
  • While the middle of the year saw a lot of gloominess, but come Nov-Dec, we saw big wins like Burger King & Mrs. Bectors IPO get over subscribed multiple times! Maybe a glimpse for a wider future.
  • The blend of IPL, Diwali, Xmas & new years saw a lot of business come back to normal for many brands.

While the new normal for many food brands is to look at ~75% pre covid numbers in metros (Blr, Hyd, Mum, NCR, Chennai), which might be a blip in the current scheme of things. But the silver lining is that a new fuelled demand is expected to come from the Tier-2 cities of India due to the reverse migration of the IT workforce. This is good news for the industry as it expands the horizon & brings in a newer set of demands.

The three noteworthy events for 2020 here at Mukunda Foods are-

  • We officially have onboardedSwiggy, Ola Foods, ITC, Wow Momo, Avantek (USA) &Kouzina Food tech.
  • RiCo– Automatic Rise machine, EcoFryer– Robotic Fryer, MisTy– Micro+steam are 3 of our new launches that join hands with Wokie– Indian gravies & Chinese food maker, eFlip– flat bread maker, DosaMatic&DoughBot
  • And the most important of all which we are very proud of is about the wonderful team we have here at Mukunda Foods. We had our team brave the Covid and was amongst the first to open doors and fastest to have full attendance. We had over 50% of the employee base which went for voluntary salary deferment in view of the tough times. The customers, products & revenue might come and go, but what I will always cherish is the super smart & driven team we have here. The true trophy for any leader.

We are bullish for better & stronger 2021 and pray God that you come out safer, better & happier in 2021