Hotline: 1800 102 2007
X
Loading
Search Business Opportunities
Dec, 28 2015

Nestle eyes double digit growth for Maggi

\"Results for the last two quarters of 2015 have been impacted by the Maggi Noodles issue. However, we are committed towards double digit (growth) that is triggered by actual volume consumption increase,” said Suresh Narayanan, chairman and managing dir

Nestle India is aggressively trying to increase the consumption of its flagship instant noodles brand eying double digit growth, said a top company executive.

It is also sharpening focus on digital media and pushing other products so that all categories contribute almost equally to the company's overall revenue, reported PTI.

"Results for the last two quarters of 2015 have been impacted by the Maggi Noodles issue. However, we are committed towards double digit (growth) that is triggered by actual volume consumption increase,” said Suresh Narayanan, chairman and managing director, Nestle India.

The Swiss major had taken a hit of Rs 450 crore including destroying over 30,000 tonnes of the instant noodles since June when it was banned because of alleged excessive lead content.

Maggi, which was re-launched in November after a 5-month ban, is currently available in over 700 towns and sold by 3 lakh small and large shopkeepers, said the company.

"We are investing significantly in the re-launch, and we will be ensuring that the consumer is aware that Maggi Noodles are safe to consume," Narayanan said.

The company is now simultaneously pushing growth in other categories such as milk products and chocolates, along with the re-launch of Maggi.

"We want to grow our business so that each category and brand contributes in more or less equal measure to the overall revenues of the firm. We are aggressively pushing growth in other categories such as milk products and chocolates," he said.

"Digital and social media is central to our brand-building process. We believe that big things happen for brands when these two are in synergy," he added.

The company is leveraging all the sales channels and had tied up with e-commerce player Snapdeal to push online pre-orders, which saw an off take of 60,000 units in the first five minutes.

Nestle India sold 3.3 crore units of Maggi in the first 10 days of its re-launch. The company has a digital acceleration team, which was responsible for the '

We Miss You Too' Maggi campaign and has also set up 24x7 toll-free consumer services in order to address consumer concerns. "For us, the concept is not just digital media but of competing in a digitally-connected age," he said.

Comment
Related opportunities
  • About:Social drinking is a norm in today’s world and keeps..
    Locations looking for expansion Maharashtra
    Establishment year 2006
    Franchising Launch Date 2017
    Investment size Rs. 50 K - 2lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai City Maharashtra
  • EuroKids pre-schools in 2001 with the idea of providing a..
    Locations looking for expansion Maharashtra
    Establishment year 1997
    Franchising Launch Date 2001
    Investment size Rs. 10lac - 20lac
    Space required 150 - 250 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai City Maharashtra
  • Stationery Stores
    About We are a Hong Kong based company with our production..
    Locations looking for expansion Gujarat
    Establishment year 2015
    Franchising Launch Date 2017
    Investment size Rs. 20lac - 30lac
    Space required 150 - 650 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Ahmedabad Gujarat
  • Women's clothing
    About:..
    Locations looking for expansion Maharashtra
    Establishment year 2012
    Franchising Launch Date 2016
    Investment size Rs. 30lac - 50lac
    Space required 300 - 500 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai City Maharashtra
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities