Companies

Cornitos-maker Greendot Health hopes to cross ₹100-crore sales mark

Meenakshi Verma Ambwani/TV Jayan | | Updated on: May 09, 2019

Packaged snacks company Greendot Health Foods Pvt Ltd, known for its nacho crisps brand ‘Cornitos’, expects to touch the ₹100-crore turnover mark by the end of FY20, as it plans to enter new categories and expand its distribution network.

Vikram Agarwal, MD, Greendot Health Foods Pvt Ltd, said: “This year, we are working on foraying into the non-corn-based snacks category, most likely the baked format. This will be in line with our brand strategy for Cornitos, which focusses on offering consumers healthy snacking options.”

The company will look at launching the new range of snacks before Diwali this year. “The strategy is to offer healthy snacks at effective price points to expand the business,” he said.

Besides nacho crisps, brand Cornitos’ portfolio includes salsa and cheese dips, a range of premium roasted nuts such as cashews, peanuts, almonds, salted pumpkin seeds, and other products such as jalapeno peppers and gherkins. The company closed FY19 with ₹60 crore in turnover.

The company is also eyeing a foothold in the broader ready-to-eat segment.

“We are looking at an acquisition to get into the ready-to-eat segment. With the growing population of time-pressed millenials, the ready-to-eat segment is attractive, and we will be evaluating our options,” added Agarwal.

As per industry estimates, the nacho crisps segment is worth ₹200 crore. Agarwal said that the company grew by 20 per cent, and the brand, which has completed 10 years in the country, is the category leader.

Talking about distribution expansion, Agarwal said: “We recently tied up with Subway, and Cornitos will be sold across its outlets in the country. This partnership will give a huge boost to the brand. We are also expanding our presence in Tier-II and -III markets.”

Cornitos is also exported to 25 global markets, and the company wants to bring countries such as the UK and Germany into its fold this fiscal.

Published on May 09, 2019
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