Sanjiv Goenka Group storms into FMCG, eyes $1 bn sales in 5 years
The RP-Sanjiv Goenka Group has announced its entry into the competitive FMCG business. Sanjiv Goenka, chairman of the Group, said on Monday that his group targeted $1 billion in FMCG sales in five years. The group launched two products 'Foxnuts' and 'Wheat Things' under the brand 'Too Yumm'.
Foxnuts, popularly known as Makhana, is Indian food, which is a natural anti-oxidant and a good source of high quality protein. Mixed with super grains like Amaranth, Wheat Thins are multi-grain crackers, rich in protein and fibre.
Both these products will be available in four flavours each that is a mix of Indian and international flavours and multiple new flavours will be introduced in the coming months. The company started packaged food business under new entity Guiltfree Industries Ltd and as of now none of the listed Group firms have any stake in it.
"The launch of this brand is a fallout of a long research. We Indians love eating and snacking in particular. We have a culture of uninhibited munching. Taste is paramount when it comes to making a choice of what to eat. Over the last few years, focus has been shifted to healthy eating, but most consumers struggle to find tasty snacking options without compromising on the health factor. With the introduction of Guiltfree Industries, we want to bring to the Indian consumer great taste in a healthier version," Goenka said.
However, Goenka intended to invest Rs 10,000 crore over next 5-7 years in his FMCG business.
The RP – Sanjiv Goenka Group indicated that the company would go for acquisition of national and regional brands mainly in food business. The Group is looking at brand distribution, product and infrastructure.
The new products will be available at Kolkata and Pune from April 13 and in National Capital Region (NCR) from April 17, this year. These products will be available at 20,000 shopping outlets across the nation. These products will reach most of the cities of the country very soon. The players of 'Rising Pune Supergiant' including Captain Steve Smith, big stars like Ben Stokes, MS Dhoni will wear jerseys featuring the advertisement of Too Yumm.
The brand will focus on providing consumers with tasty packaged snacks. The natural goodness of ingredients and production technology like the use of better oil, being an eat popped instead of fried, make the products healthier than existing snacking options. Some 10 more products are in pipeline over the next 12 months.