Kraft Heinz Company is planning to double its annual earning from India to Rs 3,500 crore in the next four years. The company also plans to introduce its global brand Planters, a nut-based snack, in the country.
“We are looking at new products in 2018. Concentrated nutritional products which are easy to move with but may or may not be biscuits, are on the radar,” Niladri Deb, managing director at Kraft Heinz Company India, said after repositioning Complan in the market with price corrections.
The company is targeting Rs 1,600-1,700 crore annual revenue from this brand in the next four years. It would imply the brand being able to achieve a double-digit market share, from its current one of seven to eight per cent. Complan and Glucon-D each account for Rs 700 crore of its total revenue, with Nycil accounting for another 20 per cent.
Vikramjeet Singh, chief marketing officer, said the thinking is on extending the Complan portfolio to elderly women and to pregnant and lactating mothers.
The company believes head-on competition with market leaders Horlicks and Bournvita is required for repositioning the brand. It’s two key drivers now are based on taste and nutrition, and it says it has come up with various flavours which directly compete with the Horlicks portfolio. Horlicks commands a 40 per cent market share, with Boost accounting for 10 per cent.
Complan will be primarily competing with Horlicks and Boost in the southern and eastern markets, traditionally milk deficient. Its primary competitor will be Bournvita in the northern and western parts.
Prior to an aggressive rollout, says Singh, the company first needed to get the price points of various packs right and innovate on the product.