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.
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