Bakery and dairy products major Britannia Industries is aspiring to be a complete food company by launching new brands and also has plans to extend offerings under its existing portfolio.
The company is also looking to expand its sales and distribution network in the Northern and Western states, besides increasing its sales in rural areas.
"In certain categories, we will have to launch new brands but in certain categories, we can extend our current brands as well," Britannia Industries MD Varun Berry told PTI.
He further said: "We continuously think about that and we try to figure out whether we should stretch but there is some limitation that how much you can stretch a brand." The company, which had a revenue of Rs 7,947.90 crore in financial year 2015-16, is working on multiple categories to be a complete food company. Presently, its offerings are limited to bakery and dairy products only.
Britannia is taking steps to strengthen its presence in North India, Madhya Pradesh and some Western states as Gujarat and hinterland of Maharashtra.
"We are already taking steps. We have started building our distribution network and making sure that we focus on getting our market share up to be competitive in those states.
If you look at results of last two to three years, we have moved up considerably." "We used to have single digit market share in the Hindi belt and now we have moved up to double digit, slowly and steadily," Berry added.
To attract more customers in rural markets, Britannia will come up with more low-price offerings in these areas.
"Some of mainline products launched with low-value pricing have done extremely well in those areas. Rs 5 pack of Marie Gold, Good Day and entire Tiger range, they are doing well in those areas," he added.
Britannia, which is aiming to double its turnover in next five years, would fill up the gaps in its current offerings besides launching new products.
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