Business Daily from THE HINDU group of publications
Wednesday, Mar 26, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Wednesday, Mar 26, 2008 ePaper | Mobile/PDA Version |
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Marketing
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Promotions & Offers Ruchi Soya enters beverages with N’rich, eyes 10% market share
Targeted at the young health-conscious mother, N’rich will come in packs of one litre to be consumed at home, and in 200 ml cartons. Our Bureau New Delhi, March 25 Ruchi Soya, which has just ventured into beverages, hopes to capture 10 per cent of the estimated Rs 2,250-crore packaged and branded fruit juice and nectar market in India in two years’ time. The edible oil and soya food company’s recently launched protein drink N’rich is to be followed up by one or two more products this year in the functional beverage and snack food category, said Mr Sarvesh Shahra, Head (Food Division), Ruchi Soya. Summer is here and along with quenching their thirst, consumers might be happy to gulp down a dose of their daily protein requirements, says Mr Shahra. “We are leaders in edible oils with our brands (Nutrella Soyumm, Ruchi Gold) enjoying high brand recall and high quality association, and in the future we would like to gain a leadership position in the beverage and snack food category, driven by the increasing health consciousness amongst consumers,” said Mr Shahra. The focus is on a clear and clean brand strategic extension of the soya food brand, Nutrella, said Mr Shahra. The high quality and nutritional value propositions to be offered through beverages and snack foods, he believes, will reflect in the premium the new products will earn for Ruchi. Margins from the new line of products are expected to be in the range of 25-40 per cent. The company plans to gain a 5 per cent market share in the category, in the first year of the drink’s launch. Targeted at the young health-conscious mother, N’rich will come in packs of one litre to be consumed at home, and in 200 ml cartons . Mr Shahra says, “The drink meets 15 per cent of the daily protein needs, and will be loved by both mothers and kids. We have worked really hard to also address the taste factor, and are confident young people will love the product.” The drink will also be distributed at institutional sales points such as schools and colleges. The company will carry on promotional activities which include sampling in modern retail and consumer interaction through the product’s mascot Popeye, and radio and in store activities. Currently available in Pune and Mumbai, N’rich is expected to be available across the top 20 cities. More Stories on : Promotions & Offers | Beverages | Market Shares
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