Brands
Sip happens as TOVA gets a wellness boost from the Poonawallas
MUMBAI: When heritage meets herb, the result is a wellness wave in a bottle. In a move that blends Ayurvedic wisdom with cutting-edge consumer health innovation, Yohan and Michelle Poonawalla have poured capital and confidence into TOVA, a mass-premium beverage brand known for its immunity-boosting, herb-infused packaged water. The strategic investment by the Poonawalla Group signals a bold endorsement of India’s evolving wellness market, where ancient traditions are being smartly reimagined for modern palates.
Founded in 2022 by Lakshmi and PS Srinivasan under Ayushkalki Wellness, TOVA has been bottling centuries of Ayurvedic knowledge into light, flavourful sips aimed at daily immunity and wellbeing. With formulas backed by R&D from top Indian food tech institutes, the brand champions a more inclusive, mass-premium approach to healthy hydration without the synthetic buzzwords or elitist price tags.
“Investing in TOVA is an extension of our belief in promoting a healthier future,” said Poonawalla Group chairman Yohan Poonawalla. “We are excited to support ventures that combine traditional wisdom with modern innovation. TOVA’s vision of bottling the benefits of Ayurveda in a convenient and appealing form is perfectly aligned with today’s wellness-conscious consumer, and we look forward to mentoring and supporting their journey towards becoming a household name.”
The Poonawallas’ interest in health, sustainability and innovation is well documented spanning sectors from engineering to green energy. With this new backing, TOVA is poised to scale up R&D, expand its distribution, and step more confidently into India’s health-forward mainstream.
“We see immense potential in TOVA’s unique approach to health and wellness. Their focus on research, quality, and innovation resonates with our values. This partnership not only aligns with our broader commitment to sustainability and wellness but also provides an opportunity to impact lives positively on a mass scale,” said Poonawalla Group director Michelle Poonawalla.
From school runs to boardrooms, wellness is no longer niche and TOVA taps directly into that shift. Whether it’s Ashwagandha-infused water for calm or Tulsi-laced hydration for immunity, the brand offers functional, natural solutions in a form that fits busy, urban lives.
“We are deeply honoured to have the support of the Poonawalla Group,” said TOVA co-founders Lakshmi and PS Srinivasan. “Their belief in our vision and commitment to nurturing innovation will play a critical role in accelerating TOVA’s growth. This partnership empowers us to strengthen our R&D, expand our distribution, and deepen our impact on promoting everyday wellness.”
With 14 million households now actively seeking Ayurvedic solutions, the timing couldn’t be better. And with the Poonawallas on board, TOVA isn’t just riding the wellness trend, it’s bottling a movement.
Wellness just got a new signature flavour and it’s Poonawalla-approved.
Brands
Dunkin’ Donuts to exit India as Jubilant FoodWorks ends 15-year franchise deal
The quick service restaurant giant is ending a 15-year franchise partnership with the American doughnut chain, even as it renews its Domino’s agreement for another 15 years
NOIDA: Dunkin’ is done in India. Jubilant FoodWorks Ltd, the country’s leading quick service restaurant operator, has decided not to renew its franchise agreement with the American coffee and doughnut chain, and will wind down its Indian stores in a phased manner before December 31, 2026, bringing a 15-year partnership to a quiet, loss-laden close.
The decision, approved by JFL’s board on March 30, 2026, ends a relationship that began with a Multiple Unit Development Franchise Agreement signed on February 24, 2011. JFL will now evaluate and undertake what it described in a regulatory filing as the “rationalisation and/or cessation of certain operations and/or sale, transfer or disposal of assets and/or assignment or transfer of franchise rights,” all in consultation with Dunkin’s brand owners and strictly within the terms of the original agreement.
The numbers tell the story bluntly. In the financial year 2024-25, Dunkin’ India posted a revenue of Rs 37 crore against a loss of Rs 19 crore — a haemorrhage that was always going to test the patience of a parent company recording revenues of Rs 6,104 crore and a profit of Rs 194 crore in the same period. Doughnuts, it turns out, were never going to move the needle.
The contrast with JFL’s handling of its other marquee franchise could hardly be sharper. Even as it walks away from Dunkin’, the company has just doubled down on Domino’s, signing a fresh Master Franchise Agreement on March 31, 2026, granting it exclusive rights to develop and operate Domino’s Pizza stores in India for 15 years, with an option to renew for a further 10.
JFL, incorporated in 1995 and promoted by the Bharatia family, operates a network of more than 3,500 stores across six markets — India, Turkey, Bangladesh, Sri Lanka, Azerbaijan and Georgia. Its portfolio includes Domino’s and Popeyes on the global side, and two home-grown brands: Hong’s Kitchen and COFFY, a café brand in Turkey.
For Dunkin’, India was always a stretch. The brand never quite cracked the cultural code in a market where filter coffee and chai command fierce loyalty and where the doughnut remains, at best, an occasional indulgence rather than a daily habit. Fifteen years, mounting losses and a parent with better things to spend its capital on was always going to be a difficult equation to solve.
The doughnut has had its last day. The pizza, however, is staying.
