ITC plans to make a foray into the United
Kingdom, United States and Canada with their ready-to-eat food brand "Kitchens of
India".
"The company is planning to rope in a
major distribution company in the US, which can market the "Kitchens of India"
brand among the Indian population in the West.
"These three countries are major
market segments for our premium product. We are in discussions with companies which can
provide access to these markets, as well as promote our brand," Mr. Ravi Naware,
executive vice-president, Foods and NBD, ITC Limited said here on Friday.
He said that the company had tremendous
export potential for the Kitchens of India brand and its confectionery products.
The Indian ready-to-eat market is valued at
around Rs 60 crores.
"We have already exported a few
thousand cans of the Kitchens of India in the US. It is mainly by individual stores. We
want to partner with a company which has a wider market reach," Mr. Naware disclosed.
Mr. Naware was speaking to reporters at the
launch of "Aashirvaad," the branded atta in the southern market. Incidentally,
atta is the first foray into the branded staple food segment by the company, which intends
to get into the iodised salt and basmati rice segment in the next few months.
The branded atta market in the country
including that of the regional players is estimated to valued at around Rs 700 crore, with
a few national players garnering a market share of Rs 220 crore.
"We would be happy if we can garner a
market share of 8 per cent of the total market share of Rs 700 crores," he said.
