New Delhi, Jan. 20 -- New Delhi: For decades, they ruled the shelves of kirana shops and supermarkets. But since the advent of direct-to-consumer (D2C) brands, which sell directly to consumers through their own sites as well as through e-commerce and quick commerce apps, often creating categories that did not exist before, large fast-moving consumer goods (FMCG) firms have found themselves on the back foot. Their sales and revenue have taken a hit, and they have found themselves scrambling to create and launch products in many emerging categories, including wellness, premium beauty and pet care, which sit outside core mass and value segments but are growing faster.

In an effort to catch up, in recent times, legacy companies have taken th...