Latest news with #Covid
Economic Times
19 minutes ago
- Business
- Economic Times
VCs smell a big opportunity as petcare expands beyond food
A surge in pet adoption since the Covid pandemic, coupled with the rapid expansion of petcare services and the rise of quick commerce, is prompting both risk-capital and strategic investors to seek opportunities in the petcare startup space. ADVERTISEMENT On Monday, Swiss multinational Nestlé SA announced a minority investment in Drools, turning the Bengaluru-based pet food brand into a unicorn, or a privately held firm valued at $1 billion or more. Supertails, a digital petcare platform backed by Fireside Ventures, is in talks to raise $24–25 million in a fresh round, people aware of the matter said. Heads Up For Tails, a petcare brand and retail chain backed by Peak XV Partners, is also in discussions for a new round of funding, sources a Gurgaon-based veterinary care startup, recently closed a $26-million funding round led by Bessemer Venture the last five years, petcare startups — which are broadly categorised as either product-driven offerings or services — have raised $198 million in funding across 20 deals, according to data provided by Venture Intelligence. ADVERTISEMENT Petcare startups have raised $198 million 20 deals over five years. 'Investors see this as a very healthy category because on the one side, there is growth and on the other side, it is a pure retention-based category with good margins,' said Vineet Khanna, cofounder of Supertails. ADVERTISEMENT Founded in 2021, Supertails has raised $30 million so far, including $15 million from RPSG Capital Ventures in February 2024. Prior to the Nestlé investment, Drools had raised $60 million from L Catterton in 2023. ADVERTISEMENT India's petcare market, currently valued at $3.5 billion, is expected to reach $7–7.5 billion by 2028, according to a report by Redseer Strategy Consultants. The number of pets in Indian households has grown from 26 million in 2019 to 32 million in 2024, the report noted.'Higher disposable incomes, delayed marriages, and lower fertility rates are contributing to increased demand for companionship (of pets),' Khanna said the industry is growing consistently with strong retention of consumers, 'especially as people spend more across categories.' ADVERTISEMENT Legacy FMCG players and consumer companies have also entered the fray. In August 2023, Godrej Consumer Products committed Rs 500 crore to the category through a joint effort with Godrej Agrovet. Earlier, Nestlé India acquired Purina Petcare India from its global parent for Rs 125.3 crore, and Emami picked up a 30% stake in petcare brand Cannis Lupus Services India. Currently, Mars, the maker of Pedigree and Royal Canin, remains the market leader in pet nutrition in larger players, startups like Heads Up For Tails, Supertails, Goofy Tails, and Just Dogs have built product-led offerings, while Vetic, Petmojo, The Pet Nest, and Happy Pettings are focused on services like vet care, grooming, and product purchases are increasingly made online, especially on platforms like Amazon, Flipkart, and quick commerce services like Blinkit and Zepto.'Ecommerce created the initial demand, but quick commerce is what's taking it to the next level,' said Renu Bisht, founder of brand consultancy Commercify360. 'Now, even in tier-II cities, pet owners can access a wide range of products without visiting niche offline stores.'Non-food categories such as grooming, supplements, toys, and accessories are now growing faster than core pet food, industry experts said.'If food is growing at 18–20% year-on-year, non-food segments like healthcare and accessories are clocking over 25% growth,' Khanna noted. 'Pet parents today are far more aware of their pets' needs.' Prayag Mohanty, principal at Fireside Ventures, said, 'The pandemic was a clear tailwind. People were at home and started looking for companionship. That growth has continued across the category.'
Hindustan Times
an hour ago
- Health
- Hindustan Times
Haryana issues Covid advisory amid rise in weekly cases
Following a rise in Covid-19 cases across Haryana, the state health department has issued a fresh advisory directing all district health officials, surveillance teams, and hospitals to enhance preparedness and remain on alert. The advisory, issued under the Integrated Disease Surveillance Programme (IDSP), follows the detection of 15 new Covid-19 cases in the past week—eight from Gurugram, five from Faridabad, and one each from Yamunanagar and Karnal. Officials have been asked to ensure hospitals establish dedicated flu corners and maintain adequate isolation beds, oxygen supplies, PPE kits, N-95 masks, antibiotics, and testing kits. 'Hospitals must strictly follow infection prevention and control protocols, particularly in OPDs and emergency wards, where healthcare workers should wear masks,' said a senior health department official. The department has also called for refresher training sessions for medical staff to update them on Covid symptoms, case management, and state protocols. Civil surgeons and district surveillance officers have been instructed to resume monitoring influenza-like illness (ILI) and severe acute respiratory infections (SARI) trends. According to the revised testing strategy, 100% of SARI cases and 5% of ILI cases must undergo Covid-19 testing. 'All public and private facilities must upload daily data on the IDSP-IHIP portal,' the advisory states. It also asks districts to coordinate with the Indian Medical Association (IMA) to ensure preparedness. In Gurugram, where the highest number of new cases have been reported, 10 beds have been set aside at the Civil Hospital in Sector 10 for possible admissions, although no hospitalisation has been required yet. 'The district administration has intensified surveillance. Early detection and timely isolation are key,' said Dr Jai Prakash, Covid-19 nodal officer. Health officials have urged citizens to wear masks in crowded places, maintain hand hygiene, avoid public spitting, and stay home if symptomatic. 'So far, most patients are showing mild symptoms similar to the common cold,' said Dr Alka Singh, Chief Medical Officer, Gurugram. However, the exact positivity rate or number of tests conducted over the past week has not been disclosed. 'The district administration has intensified surveillance efforts. We are tracing the travel history of both individuals and identifying people they may have come in contact with recently. Early detection and timely isolation are key in preventing further transmission,' said Dr Jai Prakash, Nodal Officer for Covid-19. The health department has also issued an advisory urging citizens to seek medical testing if they develop symptoms such as a cold, cough, fever, body ache, or fatigue. Special focus has been placed on international and inter-state travellers, with district surveillance officers instructed to follow up with such individuals.
Miami Herald
2 hours ago
- Business
- Miami Herald
Macy's CEO warns customers of a harsh change in stores
Macy's (M) , which owns Bloomingdale's and Bluemercury, is one of the few nostalgic mall retail giants that survived the Covid pandemic, a period that caused several retailers to either file for bankruptcy or go out of business. After surviving the pandemic, Macy's is now battling a startling shift in customer behavior. In Macy's first-quarter earnings report for 2025, it revealed that its comparable store sales declined by 2% year-over-year during the quarter. Don't miss the move: Subscribe to TheStreet's free daily newsletter The shrinkage in sales contributed to the company earning a total revenue of roughly $4.7 billion during the quarter, which is about 4% lower than what it earned during the same time period last year. Related: Ross Stores makes drastic decision customers will see in stores As Macy's struggles with lower sales, the average number of visits customers made to each of its locations dipped by 0.2%, according to recent data from During an earnings call on May 28, Macy's CEO Tony Spring said that while the company performed strongly in March and April, its performance in February lagged due to unseasonable weather. He also said that despite recent changes in the economy, consumers (with both low and high income levels) continue to shy away from making discretionary purchases. "Discretionary spending is something that I think we've seen from the middle of last year kind of forward, that as inflation subsided a little bit, as gas prices became more affordable, the consumer still felt the pinch of other costs that were rising," said Spring. "And so, we're maintaining our aggressive position in trying to make sure that we're capturing our fair share. I would say at the high end, the consumer is not obviously pressured, but they remain choiceful, and they don't like uncertainty." Related: Home Depot struggles to reverse concerning customer behavior In order to help combat this concerning trend, he said that Macy's will continue to offer "newness" to customers. "So the consumer remains under pressure but is responding to newness, is responding to good value, is responding to improved presentation, is responding to inspiring marketing," said Spring. "I think we can control some of these elements. I can't control how much discretionary spend the consumer is willing to lay out, but I can control the quality of our execution." As shoppers become more cautious about making discretionary purchases, Spring also warned that customers may soon see higher prices in Macy's stores due to tariffs (taxes companies pay to import goods from overseas). Last month, President Donald Trump imposed a 10% baseline tariff on all countries and paused reciprocal tariffs. The pause on reciprocal tariffs will end in July, and as a result, roughly 60 countries will soon see increased tariff rates. This will likely have a domino effect, resulting in U.S. consumers seeing higher prices for goods. Spring said that Macy's is "slowly" implementing price increases in its stores, highlighting that the company will be "aggressive on pricing" and will remain "very competitive." "I would say the pricing is working its way into the system slowly," said Spring. "So you certainly saw little to no pricing in the first quarter. You're seeing some limited pricing in the second quarter." More Retail: Costco quietly plans to offer a convenient service for customersT-Mobile pulls the plug on generous offer, angering customersKellogg sounds alarm on unexpected shift in customer behavior During the earnings call, Macy's Chief Financial Officer Adrian Mitchell emphasized that the company isn't solely using price increases to combat the threat of tariffs but is also being "incredibly surgical" about how it handles them. This includes negotiating with vendors to obtain brands and styles that customers are interested in buying. It has also shifted more of its production away from China, which is one of the countries on which Trump imposed high tariff rates. Macy's has even canceled and delayed certain orders that couldn't be obtained from vendors at a fair price. "We've been able to gain some vendor discounts, which has been helpful to us, but we're absorbing some of that price as well," said Mitchell. "So we're making selective price increase(s) in selective brands, selective categories, because we believe the value equation for the customer is still very relevant." The move from Macy's comes at a time when many consumers are changing their spending habits to prepare for the impact of Trump's tariffs. According to a recent survey from Harris Poll and Bloomberg News, 56% of Americans said their household finances would be better off if Trump's tariffs were never enforced. Also, three in five Americans said they are cutting back their spending due to concerns about a potential recession. Additionally, more than 70% said they are eating out less, and 57% said they are spending less on entertainment. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Hindustan Times
2 hours ago
- Health
- Hindustan Times
Mumbai sees 11 new Covid-19 cases daily, May numbers surge past 340
MUMBAI: Mumbai is currently recording an average of 11 new Covid-19 cases daily, with 346 infections reported in May alone – a sharp rise from near-zero figures till last month. While most cases are mild and hospitalisations remain low, Maharashtra has reported six Covid-positive deaths in 2025, so far, all of them involving patients with serious comorbidities. Health experts urge caution, not panic, stressing that the virus is now endemic and should be managed with rational testing, timely care and continued protection of vulnerable groups. Since January, Mumbai has reported a total of 352 cases, most of them emerging this month. On May 28 alone, Mumbai logged 36 new cases, underscoring a seasonal surge. 'This reflects the virus's persistent presence and our need to adapt to its changing behaviour,' said a senior epidemiologist with the Brihanmumbai Municipal Corporation (BMC). 'COVID has not gone—it's just quieter and more selective.' Across Maharashtra, 521 cases have been reported between January 1 and May 28, a state-wide daily average of 3.5 cases. Thane has also seen a steady increase, with 12 new infections on May 28, bringing its active caseload to 72. Of these, 16 patients have been hospitalised, 45 are recovering in home isolation, and 10 have recovered. One death linked to comorbidities has been recorded during this period. 'The clinical picture remains mild in the vast majority of cases,' according to an official with the Thane Municipal Corporation (TMC). 'We are ensuring timely diagnosis and isolation.' In terms of testing, Maharashtra conducted 8,868 Covid-19 tests in this five-month period, with a positivity rate of 5.87%. Besides Mumbai and Thane, new cases on May 28 were reported from Pune (9), Navi Mumbai (4), Panvel (4), Pimpri-Chinchwad (3), Kalyan (2), Ahmednagar (2), and one case each from Raigad and Nagpur. The state's active case count stands at 383, with 132 recoveries documented since January. Despite the uptick, health authorities are not alarmed. Hospital admissions remain limited, and most patients are recovering within three to four days. 'There is no significant lung involvement or oxygen requirement in these patients,' said Dr Rajeev Jayadevan, co-chair of the National IMA COVID Task Force. 'Symptoms are predominantly mild—fever, sore throat, body ache, fatigue. Most people don't require antivirals or even clinical intervention beyond supportive care.' Maharashtra has reported six Covid-positive deaths in 2025, so far, averaging one death approximately every 24 days. All six individuals had serious underlying conditions. 'In these cases, Covid was a precipitating factor, not the primary cause of death,' explained an infectious disease specialist at a Mumbai tertiary hospital. The Indian Medical Association (IMA) has issued an advisory, urging citizens to remain vigilant without resorting to panic. 'Covid is now endemic. It flares when immunity wanes or when a new variant circulates,' said Dr Jayadevan. 'What we need is rational testing, symptom-guided treatment, and continued focus on protecting at-risk populations.' He also warned against the misuse of antibiotics. 'This is a viral illness—antibiotics are ineffective and only worsen antimicrobial resistance,' he said. With the monsoon approaching and the likelihood of a seasonal increase in respiratory illnesses, health experts are advising the public to wear masks in crowded places, avoid self-medication, and seek timely medical consultation if symptoms persist. 'We've learnt how to live with this virus,' said a senior health official. 'It still targets the vulnerable, but we are no longer powerless—preparedness, not panic, is what matters now.'
The Star
2 hours ago
- Health
- The Star
SEA has near 150% rise in heart disease
The number of people with cardiovascular disease surged by 148% in South-East Asia over the past three decades, with the condition becoming the region's leading cause of mortality and morbidity, according to new research. A total 37 million people in the region suffered from cardiovascular disease in 2021 and 1.7 million died from it. The findings by researchers at Seattle's Institute for Health Metrics and Evaluation and the National University of Singapore are based on analysis of data between 1990 and 2021 from the 10 nations that make up Asean. The results, published this week in a special edition of The Lancet Public Health, highlight the growing burden of public health, including cardiovascular disease, mental disorders, smoking and road injuries. The main reasons contributing to cardiovascular disease were high systolic blood pressure, dietary risks, air pollution, high low-density lipoprotein cholesterol and tobacco use. The region's ageing population also contributes to the big jump in case numbers, according to Marie Ng, the study's lead author. 'Without immediate action from each of the countries, these preventable health conditions will worsen causing more death and disability across Asean,' said Ng. It's worth noting that during the Covid-19 pandemic, the incidence of deaths due to cardiovascular disease rose more than predicted and a separate study from 2023 flagged the risk of increase in cardiovascular disease in children born to mothers infected with Covid during pregnancy. — Bloomberg
