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LT Foods looking to strengthen presence of Daawat in European market
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Saturday, 09 December, 2017, 08 : 00 AM [IST]
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Our Bureau, New Delhi
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LT Foods, an emerging global food company with a focus on Basmati and other specialty rice, organic foods and convenience rice-based products and a presence in over 65 countries, has extended their strategy for the critical European market, including the United Kingdom, by launching the new avatar of their leading brand, Daawat.
The company is extensively working on expanding its geographical footprints and product portfolio in these markets, and plans to invest $20 million. It has targeted an increase in sales from the current 5,000 tonne to 30,000 tonne in the branded segment over the next four years.
Additionally, this move will benefit 5,000 farmer families in India, as the raw material would be sourced from the country. Vijay Kumar Arora, chairman, LT Foods, said, “This move is in line with the strategic intent of the company to make Daawat a trusted and household name in the European region using raw material from India.”
“We have a well-devised strategy in place to achieve this target. Over the next two years, we are eyeing a market share of five per cent in the branded segment of this region with distribution expansion and continuous brand investments. This will help to take the growth to the next level and achieve the aspired targets,” he added.
Additionally, all Daawat rice variants, including Quick Cooking Brown Rice, Original Basmati Rice and Extra Long Basmati Rice, will sport a new look and feel and be on the shelves from March 2018.
Driven by an internal study to understand the international standard and customer desires, LT Foods decided to undertake this initiative, which will help people to obtain more information on the brand’s customer benefits.
LT Foods has been focusing on Europe as the next growth region, and has recently opened a new plant in the Dutch city of Rotterdam to cater to both Europe and the United Kingdom.
The occasion was graced by the Indian ambassador to the Netherlands. Over 100 ethnic distributors attended the event.
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