After the resounding success of Britannia Treat Croissant in India, the Rs 14,000-crore biscuit giant plans to ride new segments such as croissants, cakes and dairy for greater growth
When Britannia Treat Croissant hit the market last May, it was a resounding success. “On the same manufacturing line, we can now do a strudel,” said Varun Berry, Britannia MD & Executive VC
Varun Berry mulls the need to strengthen the non-biscuits portfolio. Biscuits contribute nearly 80% to Britannia's revenue. Over the next five years, the company is aiming for a 50:50 split in revenue
“Over the next five years, we want to double our total business, and the non-biscuits part should bring in half the revenue," said Varun Berry in an interview with Business Today magazine
"My mandate is to sustain the transformation at Britannia from a digital point of view. We must be innovative and provide value to the customer and employees," said Rajneet Singh Kohli, CEO & Executive Director, Britannia
Britannia's strategy will continue to be one around adjacencies - from biscuits to more of bake snacks like rusk, cakes and croissants. “We will move from A to B to C and not A to Z,” said Varun Berry
Britannia is seeking a wider play in the food segment. Does that mean a play in, say, atta, rice or salt? “We are a little away from that. Our strength is ready-to-eat and there is a substantial opportunity... For now, the adjacencies are attractive," said Varun Berry
Berry said there's a lot of steam left in biscuits and cake segments. In the organised Rs 1,500-crore cakes business, Britannia is among the largest. “There are also opportunities in cereal bars or protein bars," he said
Britannia management wants a good presence in salty snacks as well, but it will be up against biggies like Haldiram's, Bikaji Foods and Balaji Foods. The company is evaluating entry into makhana and ready-to-eat popcorn
In the cookies segment, Britannia is the market leader with around 33% share. “Britannia is among the largest, yet can only grow,” said Varun Berry