KOLKATA: ITC Foods, one of India's biggest FMCG companies by sales, is looking to establish more premium brands alongside its value offerings in an effort to increase its level of profitability.
The company currently sells a wide range of brands, including Sunfeast biscuits, the Bingo range of snacks and crisps, as well as confectionary offerings including Minto and Candyman, each of which have a number of line extensions.
While its revenues are estimated at around 800 crore rupees ($160m; €123m; £109m) last year, the company – part of the wider ITC conglomerate which covers sectors from computing to hotels – has yet to post an annual profit since its launch in 2001.
This has been attributed ITC Foods to "investments in brand-building and product development," which are regarded as the "vital foundations of any long-term business strategy."
However, the Economic Times, the Indian newspaper, reports that its parent company is exerting increasing pressure to increase the return from its food arm.
Data sourced from Economic Times; additional content by WARC staff