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German packaged foods maker Dr Oetker aims to grow its sales in India over three-fold to Rs 1,000 crore by 2020 on the back of new product launches and network expansion.
Dr Oetker India, which is setting up a state-of-the-art manufacturing unit in Rajasthan, also expects exports to contribute to around 20 per cent of its business in the next four years.
"Our plan is to be Rs 500 crore with Fun Foods by 2020 and overall as a company, we plan to be Rs 1,000 crore as we will also launch muesli and many other products next year," Dr Oetker India Managing Director Oliver Mirza told PTI.
The company, which entered India in 2007 by acquiring Delhi-based Fun Foods, is a market leader in mayonnaise, Italian sauces and sandwich spreads.
According to the company, mayonnaise itself will become a Rs 1,000 crore market here by 2020 and it aims to have half of that pie.
"We want to have at least half of the market value but we just do not have mayonnaise but also have pasta sauces, peanut butter... So in net sales we want to be Rs 500 crore," he added.
The company, which follows the January-December financial year, is expecting to close 2016 with around Rs 160 crore in sales.
Dr Oetker plans to introduce new products such as frozen pizza and new brands in the Indian market.
"We are looking at other segments which we will bring from other countries," Mirza said, adding that the people consuming mayonnaise has more than doubled from 4 million to 9 million in just two years.
"Once there is an understanding about the product, people buy more of it and in bigger quantity. We are promoting the product so consumers develop a taste for it," he said.
Presently, Dr Oetker has four manufacturing units here and its Kaharani, Rajasthan plant is at commissioning stage.
"We will ship from that plant not only to India but also to SAARC countries and Germany," he said, adding that it would have an overall production capacity of 5,000 tonnes.
"Exports will be 20 per cent of the volume of Rs 500 crore...," he added.
Dr Oetker would also expand its sales network in India and looks to grow over two-and-half times in next two years from 40,000 odd stores. Besides, its low price units would help the company bring traction from smaller cities.
"In a year or two, we would manage to go up to 1 lakh stores so that would include tier 2 also...," Mirza said.
Established in 1891, Dr Oetker has turnover of 12 billion euro and is the market leader in Europe in muesli, frozen pizza and home baking categories. It has presence in over 50 countries and operates in segments such as food, beer, non-alcoholic beverages, wine, spirits and sparkling wine.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)