ITC to launch new categories to spice up its food business

  • ITC is overhauling its foods portfolio to revive its market share in categories that have been showing signs of fatigue.
  • Despite growing ahead of the industry on an average, ITC’s share skid partially due to sudden aggression by rivalslike Britannia.
  • It is also changing brand creation strategy – ITC will not launch any new food brand. Instead, it will piggyback on existing ones for new launches and claims it has nearly 5-6 new categories in its innovation funnel.
  • The focus would be clearly on premium-ising the portfolio to focus on larger value-Hemant Malik, CEO, ITC’s Food Division.
  • ITC has made public its interest to enter categories including chocolates – launched premium chocolates under Fabelle brand a few months ago, dairy through ghee and milk powder, tea and coffee.
Source: http://bit.ly/2p3wlev

 

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Chahal Popli

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Yash Rathod

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