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| Glaxo-Smithkline Health aims to make Horlicks Nutribar a Rs 100 cr brand |
| Press Trust of India / New Delhi Aug 13, 2009, 12:50 IST |
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Gauging the potential of the 'healthy foods' or 'functional foods' market in India, FMCG firm GlaxoSmithKline Consumer Healthcare aims to make its cereal bar snacks, 'Horlicks NutriBar', a Rs 100 crore brand within three years.
The company is targeting the 'young working adult' segment as its growth market for this product.
"As a brand we intend NutriBar to be a Rs 100 crore product within the next three years. For this year, we have fixed a target of Rs 20 crore," GlaxoSmithKline Consumer Healthcare (GSKCH) Executive Vice President (Marketing) Shubhajit Sen told the reporters.
GSKCH launched Horlicks NutriBar in February this year in three flavours, Cereal 'n Milk, Choco Crispy and Nuts n Raisins.
"With Horlicks NutriBar we have ventured into a new category of the nutritional snack bar. This category is in its nascent stages in India... However, we have received a great response from our customers for Horlicks NutriBar so far and hope that we continue to gain popularity for this product," Sen said.
Sen said GSKCH is positioning Nutribar, which contains multi cereals and 11 nutrients, as an alternative for the junk food segment.
'Functional foods' or 'health foods' category consists of eatables like cornflakes, health drinks, pro-biotic yogurt etc., which serve as nutritious dietary supplements.
"It is aimed towards the needs of the health-conscious urban generation who is constantly on the move...The target consumer is the young working adult," he said.
The company has already initiated a marketing and advertising campaign for Horlicks Nutribar.
Horlicks Nutribar is available in a 30-gm-pack at a price of Rs 15-18.
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