| Tuesday, 30 December 2025 |
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Good morning [%first_name |Dear Reader%],
I would describe Trade Tricks as the essential sampler for news on consumer businesses in India.
The brands are familiar, the trends are recognisable, and you won’t find too many complicated terms. Yet, it’s a tricky field to cover and stay on top of. Luckily, because you read The Ken, we make sure that it sounds fun and accessible. From FMCG and e-commerce to retail, we cover it all.
Our range runs from Asian Paints to Zepto—that’s our A–Z. This year alone, we have covered Wakefit, HUL, matcha, Zudio, and of course, Domino’s. So much has been happening.
We also celebrated a big milestone: our 200th edition.
And there are many more to come.
But before we move into the new year, we want to share the editions that you shouldn’t have missed (in case you have) and get you all caught up.
Aditya Birla Fashion tried every trick in the book to stay relevant, especially with Tata-owned rival Trent soaring to new heights. But finally, it was forced to sacrifice itself in order to have a shot at redemption.
At a market value of Rs 17,600 crore, Aditya Birla Lifestyle Brands, the demerged company that began trading on the stock exchanges in June, is worth 70% more than Aditya Birla Fashion. It’s as if retail analysts finally have something to be excited about the group. Brokers Morgan Stanley and HDFC Securities are counting on a 25–30% rise in Aditya Birla Lifestyle’s shares.
The demerger is proving better in more ways than one. Just two weeks ago, Aditya Birla Fashion was hit with a Rs 13.77 crore tax demand from the Maharashtra government. While not a crippling amount for a company of its size, it’s always wiser to keep your soles clean if you can.
Birla couldn’t crack fashion with one company. So it’s now trying with two
Much hinges on Pantaloons’ ability to surprise investors
The tax demand, though, pales in comparison to the ongoing legal drama between Bata India and Crocs.
For the last decade or so, Bata India has been fighting some version of the same case against American footwear retailer Crocs. Its latest salvo: a 14 November Supreme Court judgement upholding Crocs’ right to file a “passing off” suit against Bata India, Liberty Shoes, and others.
Bata India is certainly acting nonchalant, as it’s aiming to open 60 exclusive outlets in India by the end of FY26. To catch up with all the drama, read Neha’s piece below.
Bata India’s dark horse is hobbled by a Crocs-shaped wound
Bata Floatz is expected to touch Rs 800 crore in revenue by 2030; that is, if it survives
Another nonchalant, and quietly confident, candidate is Eternal.
District, birthed after Eternal bought Paytm Insider a year ago, is the smallest and youngest of the lot. In the June quarter, District brought in roughly Rs 200 crore in revenue, which was not even a tenth of each of the other businesses.
While the overall revenue saw an increase, the division reported a loss of 57 crore this year, compared to a profit of Rs 18 crore last year of the respective quarter. To better understand why Eternal’s youngest bet could dampen the party, read the article below.
Zomato’s District doesn’t want to pay for the sins of others
What it takes to ease event attendees’ woes—at least at the venue
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From Reliance’s Campa to Coca-Cola, why glass bottles are making a comeback
Also, Tata Trent soft launches a Zudio sibling
The catalyst?
Beginning 1 April, 2025, the government has mandated beverage makers—including the likes of Pepsi, Coca-Cola, Campa, and Parle—to use e-PET (recycled PET) bottles for at least 30% of their yearly production. In fact, the government plans to increase this threshold by 10 percentage points each year, until by 2029, companies are using recycled plastic for 60% of their volume.
Is this environment-friendly approach helpful? Is it profit-friendly?
Speaking of profits, here’s something interesting about Technosport:
Technosport has existed since the mid-2000s, but its rise is recent and steep. Since 2022, it has grown 40–50% every year. In 2024, it crossed Rs 300+ crore in revenue and sold a staggering 25 million units of activewear—the highest volume of any brand in India, according to a senior representative at the company. Today, it moves nearly two million garments a month, competing with Nike, Adidas, Decathlon, and homegrown stars like HRX. The latter, co-owned by Hrithik Roshan, declared a Rs 1,000 crore revenue in 2024.
If you want to find out more about how it’s competing with established players, read Valli’s piece below.
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Executive Chairperson, Biocon Limited
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