Having ‘weathered’ the Maggi storm, Nestle India is embarking on a product offensive, launching up to 25 products across various categories to fend off ‘disruptive competition’ from new rivals like Patanjali.
The company, which now claims 55.5% share in the instant noodles market, however, says financially it could take a few more quarters to fully overcome the Rs.500 crore hit it took because of the ban on Maggi last year.
“We have weathered the storm, although we still have two cases pending in the court. Now it is the time to ride the wave,” Nestle India Chairman and Managing Director Suresh Narayanan told PTI.
For this Nestle India is focusing on rejuvenation of existing brands, adding new products and entering into new categories targeting a wide range of consumer segment from babies, to youth to women and adults in urban markets.
Elaborating on the company’s new product launch programme, Narayanan said: “There are about 20-25 product launches, some of them have happened, some are happening and some will happen in four to six weeks time. This is probably the single largest window of new product launches in a long time.”
The new products include seven variants of Maggi noodles, Greek yogurt brand ‘Grekyo’ and protein growth brand ‘Pro-Gro’ in dairy segment, besides multiple products in chocolate and confectionery, as also new offerings in coffee and tea.
Read more here