Parle Products, the maker of Parle-G biscuits, is looking to undertake a massive brand and strategy overhaul in the next financial year. Sources tell CNBC-TV18 that Parle is looking to grow its premium biscuits market share to 20 percent from 15 percent by 2019, and also rebrand its snacks portfolio.
For this, the FMCG major is going to launch several new variants under existing premium categories.
The company is also looking to hit Rs 1,000 crore in its 'snacks' business by 2020. It is going to rebrand its namkeen products, renaming them 'chatkeens.'
In India's biscuit business, Parle is second in terms of market share at 29 percent, four percent behind Britannia.
Parle will also explore the expanding scope of contract manufacturing in the next fiscal.
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