Targeting a turnover of Rs 500 crore in
four years, ITC Foods has added yet another product category to its portfolio. Following
its ready gourmet cuisines Kitchens of India, the company has introduced ready-to-eat
convenience food, Aashirvaad ready meals. The future will see a host of products,
including rice and spices, under the Aashirvaad brand.
"The ready-to-eat segment is just
beginning to grow. According to estimates, this is growing at 30% per annum. We would like
to be the leader in the category and aim to achieve an all-India coverage in the first
year," said Mr. Ravi Naware, divisional chief executive, ITC Foods Division.
The products, which are being manufactured
in Bangalore, will be manufactured in north and west as well. ITC is using imported
pouches for healthy preservation of what it claims to be 100% natural food. "While
Aashirvaad will enable Indian women to nurture a wholesome tasty meal instantly ready, it
will be an easy option for bachelors and single people," Mr. Naware added.
"We have been exporting our items to
the US, the UK and wherever there is an Indian diaspora. We will now include this range
also," he said. Refusing to divulge the investment that has gone into brand building
and manufacturing, Mr. Naware said the company has spent around Rs 10 crore on product
development, since as innovating product will be the key strength.
Aashirvaad ready meals have been priced at
Rs 35 for 285 gm of rajma masala, dal makhani and aloo mutter and Rs 40 for 285 gm of
navaratan korma and palak paneer. The brand will include lot of meal occasions in future
and specific items for southern market will also be launched.
In the first phase, the brand will be
available in Hyderabad, Kolkata, Mumbai, Delhi, Chennai, Ahmedabad and Pune and will be
present in over 10,000 retail outlets. Aashirvaad has also being marketing atta and salt.
ITC Foods also markets Minto, targeting the adult confectionery market, and Candyman,
targeting the hard-boiled sweet segment.
