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Battery major Eveready enters confectionery mkt with launch of Jollies
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Wednesday, 10 January, 2018, 08 : 00 AM [IST]
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Our Bureau, New Delhi
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Dry cell battery maker Eveready Industries India Limited (EIIL) has entered the Rs 9,000-crore-plus confectionery market with its brand Jollies. In the first phase, it will be launched in the fruit chew segment. This segment is estimated to be worth about Rs 400 crore and is growing at a rapid pace.
EIIL opined that the fast-growing fruit chew segment will double in the next three or four years and expected to become a significant player in this segment by making this under-penetrated category available across urban and rural India through its robust deep distribution network.
It is working on an asset light model and opined that it can add significant turnover and profitability with entry into this segment.
Amritanshu Khaitan, managing director, EIIL, said, “Jollies is the first step to scale up our fast-moving consumer goods (FMCG) portfolio of products. We believe that priced at Re 1, Jollies Fruit Chew will be an attractive offering to Indian consumers who prefer healthier choices.”
“The product being launched has a high percentage of natural fruit pulp, making it a preferred healthier option to pure sugar candy,” he added.
“Candies are a mass market product and can be carried in the Eveready vans reaching a million outlets,” Khaitan said.
“This brings in a major competitive advantage for us and we believe we can become a major player in the fast-growing confectionery market in the next three to five years with only investments required for branding,” he added.
With extensive distribution, being one of EIIL’s key strengths, confectionery would provide an opportunity to compliment the current basket of products and give an opportunity to offer value added products to the company’s vast up-country distribution.
Jollies will also provide a quality offering to rural consumers who have limited access to branded confectionery and are dependent on unorganised and often inferior-quality products.
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