Brands
“Nova Dairy has a milk handling capacity of 2.2M ltr per day”: Ravin Saluja
Mumbai: The Indian dairy industry stands as a pillar of the nation’s economy, boasting a rich legacy of excellence and innovation. Among its esteemed contributors is Sterling Agro Industries Ltd, a pioneering force renowned for its iconic brands ‘Nova’ and ‘A-One’, revered for their premium quality across households nationwide. Notably, the brand was selected for the sacred Pran Pratishtha ceremony of Ayodhya Ram Mandir on 22 January 2024, affirming its cultural significance and widespread trust.
With over 30 years of steadfast retail presence and a robust international footprint spanning 33 countries, Sterling Agro remains a cornerstone of India’s dairy landscape. Large institutions and well-known corporate giants are among the company’s preferred bulk customers including Indian Railways, Nestle, ITC Ltd, Air India, etc.
Indian Television in conversation with Nova Dairy (Sterling Agro Industries Ltd) director Ravin Saluja delved into the brand’s journey over the past three decades; maintaining competitive edge in both domestic and international markets, on catering to large institutions like Indian Railways and more…
Edited Excerpts:
On the journey of Sterling Agro Industries Ltd over the last three decades and its differentiating aspect from its competitors
In the past three decades, there has been a revolution in the dairy industry. A considerable impact was left by the white revolution, which completely changed the scope for quite a lot of budding dairy industries. As for Sterling Agro Industries, I may say that we experienced both — the highs and the lows of this journey, and through this, we got to learn a lot about how things get done in this business. However, the love and trust of our customers, in our products, has been something that has made us what we are today, and we strive to stand up to their expectations even in future.
On Nova ensuring premium quality across its wide range of dairy products, including the innovative practices or technologies used in the production and processing of your dairy products
Of course, Nova ensures that its products are prepared in the hygienically cleanest and most advanced ways, standing up to the set parameters of FSSAI. Our three state-of-the-art factories are equipped with the most advanced technologies, which ensures that our products are qualitatively the best in our segment. This is how we work in providing our customers the best-in-class products.
On Sterling Agro Industries Ltd maintaining its competitive edge in both domestic and international markets
To be able to satisfy the customer’s needs and wants is a big responsibility. Our supplies span across 33 countries, along with those in our country besides. To maintain our edge in the market, it becomes important for us to be able to attend to the demands of our customers without failing to do so. And when we pass the test, we become certain of our presence in the market beside our competitors.
On Nova Dairy’s feeling about its ghee being selected as a crucial ingredient for the pran pratishtha ritual at the Ayodhya Ram Mandir, and the significance this held for the company in terms of its cultural and societal impact
Honestly speaking, it was a moment that filled us with pride and sentiment. Culturally, lord Ram and Ghee share strong ties with the Indian households. Ghee even finds a strong and special relationship with lord Krishna in the Indian landscape. The selection of our ghee for the pran pratishtha gave us a push to perform better and better in keeping firm the trust that our products built up among our customers. And this is a commitment which we are dutifully committed to, which even drives us with zeal and enthusiasm.
On the unique challenges and opportunities that the dairy industry presents in India, and Nova navigating them
One of the most important challenges faced by dairy industries today, is that of building up the values of customer satisfaction and trust in the services offered. Our commitment is to offer the best in class products in the most cost-effective range, so that we may continue to delight our customers in the most economical ways.
On the company staying ahead of market trends and evolving consumer preferences in the dairy industry
We draw a big picture of the needs of our customers, through their response to our products available in the market. Now that the summer season is around the corner, the preference of the customers would considerably shift towards lassi and buttermilk, along with our other products. In such a condition, Nova Dairy ensures that its customers are served with the best quality lassi and buttermilk, so that they may refresh themselves with these drinks in extremely hot climatic conditions, without having to regret their purchase. This is something which is of earnest importance to us.
On the company catering to the diverse needs of both individual consumers and large institutions like Indian Railways and Nestle
Our three large state-of-the-art factories are capable of procuring and processing around two million litres of milk everyday. Such a large quantity of milk helps us in catering to the needs of our bulk consumers, such as Indian Railways and Nestle, as well as our individual customers, that is, the general public. For this purpose, we have a wide segment of products and services through which the customer needs may be kept at the front and may be delivered well.
On upcoming projects or expansions that Nova has planned for the future
Nova Dairy has a milk handling capacity of 22 lac litres per day. The milk procurement depends exclusively on seasons. While it is a flush season, the procurement happens to be up to the mark; but when it is an off-season, the procurement happens to revolve somewhere around 30-40 per cent. I think, we would like to take those numbers up, in future.
Brands
Estée Lauder to shed 10,000 jobs as new boss bets on digital shift
The cosmetics giant raises its profit outlook but stays silent on a possible merger with Spain’s Puig, as job cuts deepen and a three-year sales slump weighs on the turnaround
NEW YORK: Stéphane de La Faverie is not done cutting. Estée Lauder announced on Friday that it plans to eliminate as many as 3,000 additional jobs, taking its total redundancy programme to as many as 10,000 roles, up from a previous target of 7,000 announced a year ago. The company, which owns La Mer, The Ordinary, Tom Ford, and Aveda, employs roughly 57,000 people worldwide. The mathematics of what is now being contemplated is stark.
The fresh round of cuts is expected to generate a further $200 million in savings, bringing the total annual savings from the programme to as much as $1.2 billion before taxes. That money, De La Faverie has made clear, will be ploughed back into the turnaround.
A CEO in a hurry
De La Faverie, who took the helm in January 2025, inherited a company that had endured three consecutive years of annual sales declines. His response has been to move fast and cut deep. A significant portion of the latest redundancies reflects his push to reduce headcount at US department stores, long a cornerstone of Estée Lauder’s distribution model but now a channel in structural decline. In their place, he is accelerating the shift toward faster-growing online platforms, including Amazon.com and TikTok Shop, a pivot that is reshaping not just where Estée Lauder sells but how it thinks about its customers.
The numbers are moving in the right direction
Despite the pain, there are signs the medicine is working. Estée Lauder raised its profit outlook for the remainder of the fiscal year, guiding for adjusted earnings per share in the range of $2.35 to $2.45, above analyst estimates and a notable step up from the $2.05 to $2.25 range it had guided for in February. Organic net sales growth is expected to come in at 3 per cent, the company said, at the high end of the range it set out in February.
The share price tells a mixed story. After De La Faverie took charge, the stock surged nearly 60 per cent, buoyed by investor optimism that a longtime company insider could finally arrest the decline. But 2026 has been rougher: the shares have fallen 27 per cent this year, weighed down by disappointing February results and the overhang of unresolved merger talks with Spanish beauty giant Puig Brands SA. The company gave no additional details about those discussions on Friday, leaving the market to guess.
Silence on Puig
The proposed tie-up with Puig remains the most consequential unknown hanging over Estée Lauder. A deal with the Barcelona-based group, which owns brands including Carolina Herrera and Rabanne, would reshape the global luxury beauty landscape. But with nothing new to say and a turnaround still very much in progress, De La Faverie is asking investors to trust the process.
Three years of sales declines, 10,000 job cuts, and a merger that may or may not happen. At Estée Lauder, the overhaul has barely started.
