Swiggy is aggressively expanding its private label brand Noice beyond traditional staples, testing the boundaries of private label strategies in India's competitive quick commerce market. The expansion represents a significant shift from the typical approach of limiting private labels to everyday grocery categories.

Rapid Scale-Up of Noice Brand

The push has dramatically expanded Noice's range and supplier base since August. According to company operations sources, the private label has grown substantially across multiple metrics:

What began as a small-batch, premium range centered on Indian snacks, sweets, cookies and baked items sourced from small kitchens has widened sharply in recent months. Recent additions include:

• Beverages
• Ready-to-cook items
• Dairy products
• Fresh items like eggs, dosa batter and paneer

Strategic Talent Acquisition

Swiggy has been adding senior talent to support the Noice expansion. The company hired Royan Mody, the former director for private labels at Flipkart, to lead Noice at Swiggy Instamart. Additionally, Mayur Hola, who previously led global brand roles at OYO, joined as vice-president, brand, with a mandate spanning Swiggy's businesses including Instamart.

Financial Performance and Margin Dynamics

Quick-commerce platforms continue struggling with profitability despite category scaling. Swiggy's Instamart financial performance shows mixed results:

Competitor performance varies significantly. At Zomato-owned Blinkit, adjusted EBITDA loss narrowed sequentially to ₹156.00 crore in Q2 FY26 from ₹162.00 crore in the previous quarter. Meanwhile, Zepto doubled sales in FY25 to ₹9,668.80 crore, but net loss widened by 177% to ₹3,367.30 crore.

Private labels offer compelling margin advantages. Industry estimates suggest quick commerce firms earn 10-15% net margins with third-party brands, while private labels can deliver 35-40% gross margins even after sharing portions with manufacturers.

Market Position and Competitive Risks

Industry estimates indicate private labels now account for roughly 20-25% of sales in staples such as grains and rice across quick-commerce platforms including Zepto, BigBasket, Blinkit, and Swiggy. However, Swiggy's approach of pushing Noice beyond typical staples carries execution and competitive risks.

The strategy raises concerns about friction with brand partners if platform-owned labels receive disproportionate visibility. For new brands, quick commerce typically contributes about 2-3% of sales, while for brands with ₹10,000.00 crore annual sales, this represents ₹200.00-300.00 crore worth of sales.

Consumer response data suggests challenges with private label prioritization. A rival platform's product manager reported higher checkout drop-offs when attempting to promote private labels in staples through search rankings, particularly when users specifically sought known brands like Aashirvaad and Parry's Sugar.

Strategic Implications

Analysts compare Noice's approach to Amazon's Solimo-style playbook, where product selection is guided by internal platform data on sales patterns. The model allows platforms to enter categories after sellers have built demand and consumer awareness, but creates competitive tensions.

While the model may not be profitable yet, it is scaling faster than many e-commerce private-label programs. The expansion reflects how quick commerce platforms are leveraging private labels and advertising income from brand partners to improve margins, with Swiggy appearing to lean harder on the private-label strategy to differentiate Instamart and lift unit economics.

Swiggy Limited recorded a significant block trade on the Bombay Stock Exchange (BSE), with 1.25 million shares traded at ₹355.00 per share. This transaction represents a notable institutional activity in the food delivery and quick commerce company's stock.

Block Trade Details

The block trade executed on BSE involved substantial volume and value, as detailed below:

Understanding Block Trades

Block trades are typically large-volume transactions that occur between institutional investors, often executed outside regular market hours or through special trading mechanisms. These transactions usually involve:

• Large institutional investors such as mutual funds, insurance companies, or foreign institutional investors
• Significant volumes that could impact regular market trading if executed through normal channels
• Pre-negotiated prices between buyers and sellers

The block trade in Swiggy shares indicates active institutional participation in the stock, reflecting investor interest in the company's equity. Such transactions are common among large-cap stocks and companies with substantial institutional following.

Market Implications

Block trades often signal institutional confidence or strategic portfolio adjustments by large investors. The execution of 1.25 million shares at ₹355.00 demonstrates the liquidity available in Swiggy's stock and the willingness of institutional players to transact at this price level.

This transaction adds to the overall trading activity in Swiggy's shares and provides insight into institutional investor behavior regarding the food delivery sector.