It will take Nestle 3 years to undo the Maggi damage in India

Advertisement
It will take Nestle 3 years to undo the Maggi damage in IndiaNestle’s Maggi noodles has still not been able to come out of the effect of the ban period. The revenue of Nestle India’s Maggi was hit badly and the company will take as many as 3 years to recover the losses.

Asia head of Nestle, Wan Ling Martello, in an interview to Swiss newspaper Schweiz am Sonntag, said they would try to make up for the loss as early as possible.

"With regards to other categories or other companies, conventional wisdom will tell you that it will take three years to come back to the pre-crisis mode, but...I am pushing for it not to be three years, so we will see," said Martello, executive vice-president at Nestle SA, said in an interview with Swiss newspaper Schweiz am Sonntag.

Advertisement

Maggi is trying to restore faith in consumers by running television and print ads and campaigns.

Nestle, in its full year earnings, said that growth of its Zone AOA (Asia, Oceania and Africa) region, at 0.5%, was "seriously impacted by the Maggi noodles issue in India".

Nestle India Chairman Suresh Narayanan had said that the impact of the Maggi ban was faced by factories, employees, partners, suppliers, farmers, retailers and customers.

Advertisement
Nestle had destroyed over 30,000 tonnes of Maggi and reported its first loss in three decades - at Rs 64 crore - in the April-June 2015 quarter.

(Image: Indiatimes)