From cigarettes to fruits! ITC to enter premium fruit and vegetable market
This decision has also transformed ITC, which started off as
ITC's desire to expand beyond snack foods is backed by an elaborate distribution network and a wider product portfolio in order to build a retailing presence rivalling that of Mother Dairy.
ITC group head (Agri & IT business) S Sivakumar told ET that they were looking forward to building ITC’s Master Chef franchisee with processed, frozen foods, and come up with a separate brand name for fresh products like fruits and vegetables.
"By the next quarter, we plan to do fruits and vegetables. Each quarter, we will probably have a rollout, either processed, frozen or dehydrated. The idea is to have a series of products which can be laid on top of existing channels, in the cold chain, in stores, once the capacity is created," Sivakumar said.
ITC's consumer business presently consists of packaged food, personal care and educational stationery products, and is worth more than Rs 10,000 crore in revenues, having crossed the golden milestone in 2016-17.
As per an official statement, ITC is now among the fastest-growing branded packaged foods businesses in India.
The fruits and vegetable under the new brand will also be sold online, first via sellers like
Popular on BI
- I'm a 56-year-old IT worker who got laid off last year and have been unemployed ever since. I have a hunch I'm not finding work due to ageism. How do I prove it?
- Germany relaxes Schengen visa rules for Indians
- Kanye West says he's selling Balenciaga, Adidas, and Gap hoodies for $20 after the companies all cut ties with him
- Revenge spending effect: Household savings dip to 5 -year low
- With no signs yet of inflation cooling, experts predict more rate hikes
- Covid hit mental health of kids, young people harder than thought
- Smog envelops Delhi, AQI remains in 'very poor' category
- Egypt president to be chief guest at Republic Day celebrations
- Tata Aviation
- Visa Platinum Prepaid Card
- Interest Rate on Deposits
- Uniparts IPO
- Air India crew guidelines
- Mukesh Ambani
- tata Consumer
- Asus new Desktop
- Sandhya Devanathans
- Best Companies for Work
- India's Richest People
- Small Cap Companies
- India Pharma
- Tata Tiago cng vs Alto k10 cng
- Top 10 Colleges in India
- Top 10 Airlines in World