The Hindu Business Line
Looking to create world-class Indian brands: ITC
Company keen to expand footprints in new categories
Having set a target of ₹1 lakh crore revenue from its FMCG business by 2030, diversified ITC is looking to create “world-class Indian brands” by leveraging on its enterprise strengths.
Buoyed by the successful launches of brands such as Classmates, Sunfeast and Aashirvaad, which are now ₹1,000-3,000 crore labels, the company is looking to expand footprints in existing as well as new categories such as fresh fruits, vegetables and sea foods businesses, to meet the “audacious” goal that it has set for itself.
“Our aspiration is to create world class Indian brands, and create intellectual assets for the nation,” ITC Ltd Chief Operating Officer Sanjiv Puri told PTI.
He said the firm has started working towards its goal.
Elaborating on how the firm plans to achieve its goal, Puri said: “To create these world-class brands, we are doing this in many segments,from personal care to foods, education, stationary to agarbatti, match sticks and dhoop battis.
“So, we are continuing to expand our footprints in the existing categories and we are also getting into new categories.”
In 2015-16, ITC’s total FMCG business had a consolidated revenue of ₹28,409.83 crore in which cigarettes contributed ₹18,685.98 crore and non-cigarettes at ₹9,723.85 crore.
Last year the company had stated that it was aiming a revenue of ₹1 lakh crore from its FMCG business for which it would invest around ₹25,000 crore in the next few years.