Tyrrells aims to double India profits of £500000 by next yr

Chips or ‘Crisps’ as it is popularly known in the UK is gearing up to wet Indian appetites in a big way.

Tyrrells, a leading luxury crisps brand based in the UK, is looking to international markets for growth, one of them being India. As part of the company's ambitious plans for sustainable global growth, it already has a small presence in India but is looking at possible future expansion opportunities.
Exciting times are ahead, says David Milner, CEO of Tyrrells Crisps in an email interview to Moneycontrol.com’s Chelsea Saldanha. Highlighting India as the next market with the most potential, he says the company is currently clocking revenues in India of about half a million pounds and by next year aims to double that number.
But Milner’s bags of crisps sure come at a hefty price tag – £2.90 (Approx Rs 240) for 150 gms and £1.29 (Approx Rs 105) for 40 gms. Compare that to some of the popular local brands which sell a 60 gms bag of chips for Rs 20 or a 100 gms bag of chips for Rs 30.
His defense – “This is quintessentially an English premium product which would appeal to a consumer looking for very high quality and also enjoys a slightly English and eccentric brand proposition.”
So will you go and pick up a bag of crisps? Below is an edited transcript of his exclusive email interview with Moneycontrol.com. Q: Pricing Tyrrells crisps at £5, for a large part of the Indian public - that's expensive. How much would a bag of Tyrrells crisps cost in India and what would the net weight be)? 
A: £2.90 for 150 gms and £1.29 for 40 gms. Q: When did you enter the Indian market? Which cities are you available in?
A: We entered India approximately three years ago and are located in most of the major cities including Mumbai, Bangalore, Delhi and Chennai. Q: What is your current turnover in India?
A: Our current revenues in India is about half a million pounds and by next year we want to double it. Q: Can you explain this 'Seed to Chip' philosophy that you talk about?
A: 'Seed to Chip' is basically where we are in control of the seed sourcing, planting and harvesting of the potatoes and, of course, the crisp making. Q: How will you convince people to pick up your bag of crisps and not the bag of chips next to yours which costs as low as Rs 20 for 60 gms?
A: This is quintessentially an English premium product which would appeal to a consumer looking for very high quality and also enjoys a slightly English and eccentric brand proposition. The range includes classic English seasonings which are aimed at the more discerning consumer. Q: Do you have any tie-ups with any retail outlets or distributors to sell Tyrrells crisps in India?
A: Right now, we sell through the Johar Group, who sells to retailers and high-end food services including hotels. We are distributed in Nature’s Basket, Hypercity, Le Marche and Modern Bazaar. Q: Tell us about your expansion plans for India? What are your growth and revenue targets for the next five years?
A: We want to establish the Tyrrells brand in those high end accounts (Hotels/Coffee Shops/Department Stores) and next tier down supermarkets so we are able to ride the retail growth in India as and when it happens over the next few years. We’re creating a premium, aspirational brand that, hopefully, Indian consumers will covet. Q: Which flavour is popular from your stable here?
A: Sea Salt & Cider Vinegar are the most popular flavours so far followed by Sweet Chilli & Sun Dried Tomato and Sea Salt & Pepper. Q: What are some of the specific challenges you have been facing in the Indian market so far?
A: Everything from local import duty which is high, to logistics, infrastructure and the hot and moist climate. Q: Would you be looking at setting up a production base in India at some point?
A: We will continue to invest in our relationship in India to ensure that the growth we’ve seen in all of our international markets is replicated there. Chelsea Saldanha
chelsea.saldanha@network18online.com