Branded credit cards for big spends; Reimagining scents for modern lifestyles

Hello,

Are we in a bubble?

The International Monetary Fund and Bank of England are the latest financial institutions to warn that global stock markets could be in trouble if investors get jittery about their AI bets, CNBC reported.

IMF chief Kristalina Georgieva advised investors: “Buckle up: uncertainty is the new normal and it is here to stay.”

Meanwhile, the head of America’s largest bank, JPMorgan Chase, has warned that the chances of US markets crashing are far greater than many financiers believe, according to The Guardian. Jamie Dimon, who is the chair and chief executive of the giant Wall Street bank, said he was “far more worried than others” about a serious market correction. He predicts the correction could come in the next six months to two years.

Moving on, change is in the air for automobile makers. Case in point: Ferrari unveiling its new technology, which will power its hotly anticipated first electric car, the Elettrica. The 78-year-old luxury Italian car company hopes to soon add battery power to its hybrid and petrol-engine models.

Lastly, Chinese toy maker Pop Mart, the company behind the social media favourite Labubu dolls, has seen an impressive surge in revenue, and it has no plans of stopping just yet.

In today’s newsletter, we will talk about 

• Branded credit cards for big spends
• Reimagining scents for modern lifestyles
• Investors deepen bets on deeptech sector

Here’s your trivia for today: Which two metals make up most of the Earth’s core?

Insight

Branded credit cards for big spends

Co-branded credit cards are steadily gaining favour with consumers on the lookout for the best deals and rewards, as well as convenience, on their online purchases. About 65% of co-branded credit card users own cards linked to ecommerce platforms, according to the joint report titled How Urban India Pays, released at the Global Fintech Fest 2025.

The evolving interest in credit cards comes as a younger cohort, particularly Gen Z consumers, take advantage of the newly gained financial independence and flock towards experimentation and early financial planning.

Financial flexibility:

• According to the report, based on an online survey involving more than 6,000 consumers across 120 cities, almost 65% of respondents applied for a credit card just after their first job. This was mainly driven by the need to manage growing expenses, earn cashbacks/rewards, and build their credit scores early.
• High-value categories like furniture, mobiles, and home appliances see high preference for credit card payments, with more than 90% of users preferring to use cards for purchases above Rs 1,000.
• During the first week of the festive sales, Amazon saw one out of every five purchases made with EMI, predominantly across mobile, appliance, and electronic categories. One in nine orders during the first 48 hours was made using the Amazon Pay ICICI Bank Credit Card, which offers 5% rewards on purchases.

<Funding Alert>

Startup: Pantherun Technologies

Amount: $12M

Round: Series A

Startup: Rusk Media

Amount: Rs 103 Cr

Round: Series B

Startup: Reo.Dev

Amount: $4M

Round: Seed

Startup

Reimagining scents for modern lifestyles

In 1948, when the late N. Ranga Rao began selling incense sticks under the now-iconic Cycle Pure Agarbathi brand from Mysuru; he wasn’t just starting a business—he was shaping the way India smelled. Seven decades later, that legacy has evolved far beyond the puja room.

The N Ranga Rao and Sons business is now led by five cousins from the third generation of the family. Among them, Kiran Ranga, in particular, has taken the family's deep expertise in perfumery and reimagined it for modern lifestyles as IRIS Home Fragrances. 

Legacy of fragrance:

• The brand’s range of over 350 SKUs includes handcrafted smokeless candles, elegant diffusers, essential oil vaporisers, fragrant sachets, and aromatherapy oils, as well as speciality incense with outdoor variants like lemongrass and citronella.
• Over the years, IRIS has expanded into signature scent creation for brands, designing bespoke fragrances that reflect their identity. Clients such as William Penn have collaborated with IRIS to create olfactory signatures that enhance their brand experience. 
• Looking ahead, IRIS’ focus remains on wellness-led aromatherapy and technology-enabled diffusion. The brand is also expanding into international hospitality and retail chains, taking Indian fragrance expertise global.

Deeptech

Investors deepen bets on deeptech sector

Venture capital investors are no longer struggling for capital. Instead, these firms face a new challenge—finding the right ventures, especially when it comes to the deeptech ecosystem, according to industry experts at a panel discussion at the Tamil Nadu Global Startup Summit 2025 in Coimbatore. 

The discussion, which brought together deeptech investors such as Bluehill Capital, Celesta Capital, Unicorn India Ventures, and TDK Ventures, centred around how India’s deeptech ecosystem is evolving from a funding-starved space to one brimming with opportunity.

News & updates

• AI boom: TSMC, the world’s largest contract chipmaker, reported that its third-quarter revenue rose 30% year-on-year, beating the market forecast, as demand for the company’s products leapt on surging interest in artificial intelligence applications.
• Sliding sales: PepsiCo reported declining sales volumes in its two biggest businesses and announced the departure of its chief financial officer after less than two years, as the food and beverage company engages with activist investor Elliott Management.
• Second chances: Intel unveiled details of its Panther Lake laptop processor, the first chip built on its next-generation 18A production process. The company said graphics and central processors integrated in Panther Lake deliver 50% faster performance than its previous generation of chips, Lunar Lake.

Which two metals make up most of the Earth’s core?

Answer: Iron and nickel.

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