Sanjiv Goenka Group enters the FMCG industry with 'Too Yumm'

RP-Sanjiv Goenka Group has entered the FMCG industry launching its first brand called Too Yumm followed by two products, Foxnuts and Wheat Thins, on Monday.
 
The launch took place in Kolkata and two more launches are expected to take place in Pune and Gugaon this month.
 
The group's Chairman Sanjiv Goenka said that there will be an expansion in 40 cities, covering over one lakh retail outlets over a year.
 
"The plan is to launch 10 products with 40-50 variants over the next 12 months," said Goenka.
 
He also added that this two products, Foxnuts and Wheat Thins, would be available at a price tag of Rs 20 and Rs 30 and soon even be available at Rs 5 snack packs.
 
Snack products made of organic ingredients will be sold at premium ranges at higher price tags.
 
The consumer food business has been initiated under Guiltfree Industries that have set a target of $1 billion for the venture in the next 5 years.
 
Goenka said that the company will foray into other segments of FMCG after establishing its food portfolio of snacks and packaged foods.
 
The promoter plans to invest Rs 10,000 crore in the next one year which will include takeovers, acquisitions, setting up factories, brand creation, expanding distribution, infrastructure, etc.
 
The current products, he said, were being outsourced from four facilities across Gujarat, Pune and Delhi.
 
The idea of entering the FMCG segment was suggested by a McKenzie study that even recommended the group to enter the BPO business.