Nestle is ready to take on Patanjali with 25 new products
Advertisement
Advertisement
Now that the Maggi storm is over,
It is also claiming that it has won back 55.5% share in the instant noodles market as against the 77% share that it had before last year’s ban; even though it could take a few more quarters to overcome the Rs 500-crore hit that it suffered because of the ban.
"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
As part of its strategy, Nestle India is rejuvenating the existing brands, while also adding new products and entering into new categories, so that it can target a wide range of consumer segment, ranging from babies to youth to women and adults.
Advertisement
These new products include seven more variants of Maggi, a Greek yogurt brand called Grekyo and a protein growth brand called Pro-Gro in the dairy segment; other than this, multiple products in chocolate and confectionery segments would also be launched.
"We are trying to look at product concepts that are differentiators. The launches are multi-targeted in terms of consumer base that we are looking at," he said.
Moreover, the time for launching new products has been shortened from 12-15 months to 4-6 months, so that it can keep up with the changing market dynamics.
Image source
Advertisement
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- FSSAI in process of collecting pan-India samples of Nestle's Cerelac baby cereals: CEO
- India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030
- Top 5 places to visit near Rishikesh
- Indian economy remains in bright spot: Ministry of Finance
- A surprise visit: Tesla CEO Elon Musk heads to China after deferring India visit
- Unemployment among Indian youth is high, but it is transient: RBI MPC member
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market