Britannia Managing Director Varun Berry said that the company expects its non-biscuit business to be equal to its highest grossing biscuits business in the next few years.
Britannia Industries, which completed its 100th year of operations recently, plans to step up its research and development to bring to market new innovative products beyond biscuits.
Britannia Managing Director Varun Berry, said that the company expects its non-biscuit business to be equal to its highest grossing biscuits business in the next few years. Currently, biscuits account for nearly 70% of Britannia’s overall business. Britannia Industries has earmarked Rs 30 crore towards research and development, which will help the company launch 50 new products.
The company is investing an additional Rs 50 crore on one campaign alone in the next 3 months in order to renew its marketing push with the new logo. The company unveiled the new logo on Monday to commemorate its 100th year.
“A lot of investment will also go towards modernising manufacturing plants with technology. It will also help us optimise costs, which will in turn help us bring down price-points on some products,” Berry said.
The company is already in the process of launching filled croissants and has partnered with Greece-based Chipita for this endeavour.
The company, which has a presence in more than 79 countries, is in the process of opening a plant in Nepal, where it has already become the market leader. It is also eyeing expansions across West Asian and North African markets.
“We already have presence in several countries. Now that we are embarking on our next milestone, we will also create a manufacturing presence in more international markets. We will go for one country every year,” Berry added.
Additionally, Britannia’s new Ranjangaon plant will be commercialised in the next couple of months, while the Mundra plant is already operational. Britannia’s in-house manufacturing share now stands at 65%. Earlier, the company produced just about 30% of all its products in-house.
Berry said that the company would like to strengthen its presence in the categories it has presence in, and build strong market in the segments where the company is weak. It will also look for partnerships in the areas where the company is not present. “Basically, the aim is to become a total global foods company, and become the largest food company in India in next few years,” Berry said.(Inputs from PTI)