Foods
ITC’s foray into the Foods business is based on strong
foundations that leverage ITC's proven strengths in the
areas of branded cuisine, competitive sourcing of
agricultural commodities, contemporary packaging as well as
large distribution infrastructure. The Foods business of ITC
is a unique example of the synergy that different businesses
of ITC bring to create new competencies and a superior
market standing.
The
Branded Packaged Foods business continued to expand rapidly
with sales growing by 57% over the previous year. The
unwavering commitment to benchmarked high quality standards
has enabled ‘Aashirvaad’ and ‘Sunfeast’ to command annual
consumer spends of nearly Rs 1,000 crore each in a short
span of time.
Enthusiastic consumer response has enabled the ‘Bingo!’
range of potato chips and finger snack foods to acquire a
double-digit market share within just one year of launch. In
the staples category, ‘Aashirvaad’ further built on its
leadership position. Aashirvaad MP Chakki atta was launched
in target markets. The ‘Sunfeast’ range of biscuits was
further expanded with the launch of ‘Coconut’ and ‘Nice’
variants as well as ‘Sunfeast Benne Vita’ flaxseed biscuits,
Special Edition of ‘Sachin’s Fitkit’ multi grain biscuits
and ‘Golden Bakery’ premium cookies.
The
confectionary category recorded robust sales with revenues
growing by 40% over last year mainly driven by ‘Deposited
Mint’ and ‘Eclairs’. New variants in the ‘Minto’ and
‘Candyman’ range were launched during the year. In the
Ready-to-Eat (RTE) group, ‘Pasta Treat’ also created a new
category. ‘Kitchens of India’ products witnessed robust
growth and is now well established in the US market in over
4,500 stores.
