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Modern Food Enterprises relaunches Modern bread with new brand identity
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Friday, 05 May, 2017, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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Modern Food Enterprises Pvt Ltd (MFEL) has relaunched its iconic Modern brand, with new brand positioning, a new brand identity, a fresh, vibrant and contemporary new packaging and an enhanced portfolio of superior products.
The new Modern brand has been carefully crafted to strengthen its appeal to multiple consumer segments, at every life stage and for every meal occasion, through a range of products that are smarter choices for consumers seeking healthy, nutritious and tasty options.
The revamped logo refreshes the iconic Modern wordmark, making it vibrant and energetic, lending a sense of positivity, smartness, versatility and imagination to the relaunched brand.
The packaging builds on the iconic elements of the Modern brand - the signature checkered patterns and stripes - and transforms them into a vibrant new look that manifests Modern’s new philosophy of Thrive and savour life to the fullest.
The new packaging with distinctive colour combinations across different offerings of its expanding portfolio is carefully crafted to stand out on the shelf, and make it easier for consumers to quickly find specific products.
Modern, named the most trusted bread brand last year, has a legacy of over five decades in the country, and is a pioneer of the organised bread sector in India.
Aseem Soni, chief executive officer and board member, Modern Food, said, “We are excited to launch a comprehensively renovated brand nationally, with an enhanced portfolio of superior products.”
“Our research and development (R&D) department, based at our Chennai innovation hub, has played an important role in crafting these products, which have been created keeping in mind evolving consumer tastes and changing lifestyles that demand smart food options, which are healthy, nutritious and tasty,” he added.
“Overall, we are looking at a 25 per cent increase in revenue by financial year 2018, and at a goal to grow revenue fourfold by financial year 2021 to Rs 1,000 crore,” Soni said.
“In this context, we plan to strengthen our presence in the stateswhere we are already present, especially Telangana, Tamil Nadu, Kerala,Karnataka,West Bengal and Maharashtra, and expand our presence in white spaces in the north and west,” he added.
Soni said that the number of retail outlets would expand to over a lakh by financial year 2018 from the current 80,000.
Acquired by Everstone Capital from Hindustan Unilever Ltd on April 1, 2016, the relaunch of Modern Food has been crafted with intensive efforts over the last 12 months, with significant investments in manufacturing, and R&D at Modern’s new innovation hub in Chennai, as well as thorough efforts on consumer insights, strategy and design.
The new portfolio features superior products such as Milk Plus bread enriched with calcium, Hi-Fibre Brown bread reinforced with premium wheat fibre, 100 per cent whole-wheat bread, and new innovations such as Multigrain Superseed Bread, which not only has superseed sprinkles on top, but is also made of flour made from seven grains and containing Omega 3.
With renewed focus on health as well as taste, Modern Food will offer something unique for everyone, thus reinforcing the belief of “Appku aisa bread nahin milenga (“You won’t find such bread.)” With the relaunch, Modern will further increase its focus on the health and wellness segment, and expand the portfolio in the city and the state.
With the backing of the Everstone Group, a leading Southeast Asia- and India-focused private equity investor with assets worth over $3.3 billion under management, the 25 per cent revenue growth in Modern in the current fiscal year will be significantly driven by volume growth of more than 20 per cent in the health and wellness segment.
Roshini Bakshi, managing director, Everstone Capital Asia, Singapore, stated, “At Everstone Capital, we always believe in building strong partnerships and great brands.”
“Modern is an iconic bread and bakery brand, and it has been a pleasure for us to help in writing this new chapter of Modern’s story,” she added.
“Everstone will continue to support the Modern team under Soni’s leadership to take Modern to its next phase of strong growth and geographical expansion,” Bakshi, who has worked closely with the Modern leadership on the brand’s rebranding and in the enriched portfolio, said.
“We are looking to grow Modern Foods, organically and inorganically, in bread and bakery and the wider packaged foods category to realise the full potential of the business,” she added.
Everstone will continue to make key investments in Modern to further market and build the brand, improve quality, innovate and expand the range, as well as enter new markets and categories.
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