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LT Foods & Kameda Seika to launch Kari Kari rice-based snacks in India
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Monday, 23 October, 2017, 08 : 00 AM [IST]
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Our Bureau, New Delhi
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LT Foods, a global Indian food brand with a presence in over 65 countries, has, in partnership with the Japanese snack major Kameda Seika, launched the premium rice-based snack brand Kari Kari in India.
In the launch phase, it will be available in three cities - Delhi and the National Capital Region (NCR), Mumbai and Bengaluru - in exclusive tie-ups with modern trade and premium stores.
LT Foods will invest around $5 million in the launch phase and plans to expand its presence across India in the coming months. The company aims to generate a revenue of $15 million over the next five years from the Kari Kari brand.
With this launch, LT Foods will enter the premium healthy snacks market, which is growing at an exponential rate with rice-based baked snacks that have international flavours customised to suit the Indian palate.
The products will be available in four flavours, namely Spice Mania, Salt and Pepper, Wasabi and Chili Garlic. Kari Kari snacks will be exclusively available across three cities in 70 and 150g packs priced at Rs 50 and Rs 99, respectively.
LT foods will roll out a 360-degree communication campaign, which will include digital marketing campaigns, in-store promotions and interactive in-store point-of-sale (POS) material.
Kameda Seika and LT Foods are planning to manufacture Kari Kari in Haryana. India is the fifth country outside Japan (after the United States, China, Thailand and Vietnam) where the former has invested, looking at the growing demand for healthy snacks in the specialty premium segment.
Commenting on the development, Ashwani Arora, managing director and chief executive officer, LT Foods, said, “Growing urbanisation, rising disposable incomes, growing working class and increasing health consciousness is creating a greater demand for innovative value-added products.”
“The launch of Kari Kari is our response to customers looking for healthy premium snacking,” he added.
Arora said, “LT Foods is steadily focusing on creating a vibrant portfolio, which already includes several leading brands, such as Daawat, Royal, Ecolife and Devaaya.”
The company carried out an extensive consumer research with 12 flavours across market segments, and finally decided on four after the consumer feedback.
Diversifying its existing portfolio, LT Foods looked at creating a new market segment for a crunchy premium snacks brand that is healthy with international flavours customised for the Indian palate.
LT Foods will be leveraging its own strong distribution network and supply chain to market the Kari Kari products in India, while Kameda Seika will provide the necessary technology related to manufacturing and flavour development.
LT Foods has entered into an exclusive 51:49 joint venture with the Japanese company to manufacture and market rice-based snacks in India.
Michiyasu Tanaka, chairman and chief executive officer, Kameda Seika, said, “We are really excited about the launch of Kari Kari and our collaboration with LT Foods in India.”
“After the successful launch of our snacks in four countries (the United States, Thailand, Vietnam and China), India is the fifth country outside Japan where we are launching Kameda Seika products,” he added.
“We see a huge uptrend in the demand for healthy snacks and our products will be catering to that demand,” Tanaka said.
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