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Consumer spending on Savlon and Nimyle, the two brands acquired by diversified conglomerate ITC Ltd in the health and hygiene segment, is expected to more than double to cross Rs 2,000 crore in the medium term, driven by product innovation, portfolio expansion and deeper market penetration. Post their acquisitions, both brands have registered a multi-fold growth under ITC's ownership and together have crossed Rs 1,000 crore in consumer spends, growing at over 20 per cent annually, according to industry experts. ITC bought Savlon from Johnson & Johnson in February 2015 and has scaled up the brand nearly nine-fold over the past decade, while Nimyle, from Kolkata-based Arpita Agro Products in June 2018, has grown eight-fold in around seven to eight years since its acquisition. "We expect the runway ahead to be just as exciting as the distance we've covered," ITC Divisional Chief Executive, Personal Care Products Business, Sameer Satpathy told PTI. He said acquisitions should be ...
Diversified conglomerate ITC expects consumer spending on its flagship food brand Aashirvaad to double to Rs 20,000 crore over the next five years, from around Rs 10,000 crore currently, as it expands into newer food categories and adjacent segments, a senior company official said. The company is amplifying Aashirvaad's play with a two-pronged strategy for the brand -- strengthening its core atta (wheat flour) business while expanding into adjacent categories such as ready-to-cook foods and frozen snacks, said Hemant Malik, Chief Executive Officer, Foods Division, and Executive Director, ITC Ltd. Aashirvaad started its journey in May 2002 as a whole wheat atta brand and has since grown into one of the country's most trusted kitchen brands, with a portfolio of more than 200 SKUs (stock-keeping units). ITC, which aspires to become India's leading FMCG player, has expanded Aashirvaad beyond wheat flour into staples, spices and fresh foods, and even the frozen category, now has consumer