Deepak's Musings #177: 💋 Why are investors betting big on India’s insurgent BPC brands?

🏍️💨 QComm update: Amazon Now v Flipkart Minutes v Blinkit v Instamart

Axis Capital published a report last week on India’s Quick Commerce players. I found this table very useful, as it captures the positioning of leading players Blinkit and Instamart versus new entrants Now (Amazon) and Minutes (Flipkart).

Let the games begin! More competition means consumers benefit.

📝 Real-world impact of GST 2.0

The government is pitching GST 2.0 as a “simpler, fairer” tax reform meant to cut prices and boost spending — but the rollout has been anything but smooth. While essentials and consumer durables are seeing lower tax rates, confusion over re-pricing, billing mismatches, and uneven pass-throughs are leaving shoppers uncertain and businesses scrambling. Some pain in this transition phase but consumers are excited t have more to spend.

🥇 Pip & Nut: From market stall to #1 in the category

From humble beginnings at a market stall to hitting the number-one spot in her field, Pip Murray’s journey is a testament to grit, innovation, and relentless passion.

For the full post: https://www.linkedin.com/posts/pippamurray_from-a-market-stall-to-reaching-the-no1-activity-7377262790312636416-NU-t/

⚙️ Nestle looks to restructure business

The plant-based revolution may be hitting a crunch: in just the past year, over 40 alt-protein companies have been acquired or shut down. What does the future hold?

🇮🇳 100%! Indians want Indian brands

More research reasserts what I have observed for the last two decades - Indians are fiercely proud and eager to support local products. That was one of my key insights when I established DSG Consumer Partners in 2012.

🛒 AI chatbots and agents are poised to transform the shopping experience - are you ready?

As consumer expectations shift faster than businesses can adapt, the gap could redefine who wins and loses in retail and branding.

What can retailers and brands do to help consumers? Agentic AI promises to take shopping to the next level by making purchases on our behalf — but it all hinges on one thing: trust. Bain & Company’s latest research shows consumers are intrigued by the convenience, yet hesitant to hand over their wallets to algorithms.

💋 Why are investors betting big on India’s insurgent BPC brands?

This story examines the growing interest among investors, including us at DSGCP, in funding and supporting Indian insurgent BPC brands. The figure of $63 million is understated, considering the deals I am aware of that may not have been officially recorded.

Why? Insurgent BPC brands are expanding at a much faster rate than the established ones! For an in-depth analysis of the BPC market, you can download The Game Changers - Scaling Blueprint Report 2025 by DSG Consumer Partners and Bain & Company (Download Report Click Here).

💄 L'Oréal wants to double down on India

As we are on the topic of BPC brands, global giants such as L'Oréal and Unilever (see below) continue to invest in India. What is particularly interesting is their willingness to invest in and acquire BPC brands in India at an earlier stage than in the past.

Over the last 12 months, L'Oréal has invested in two Indian insurgent BPC brands: Deconstruct and Arata.

🚀 Guess what? HUL is also doubling down on India

Does the appointment of Priya Nair, who’s last stint was her very successful tenure as President of Beauty & Wellbeing, one of Unilever’s fastest growing businesses, as India CEO mean that HUL wants to double down on its beauty business?

Unilever has also invested in Arata alongside L'Oréal. Other recent investments by Unilever include Indewild, Wishcare, RAS, and Minimalist. Let us not forget that Unilever acquired Minimalist in January for around US$325 million.

🦷 Is Colgate, once the undisputed king of India’s oral care market, beginning to lose its edge?

With changing consumer preferences, and stagnant innovation, and insurgent brands entering this category, it looks to me that the brand’s dominance is under real threat. The Morning Context peel the onion on how things are playing out for Colgate.

📰 Other consumer-related news: deals, funding, branding and more