Modern Food Enterprises, the maker of Modern Bread and a wide range of bakery products, is repositioning the brand to the health and wellness space with the launch of a new product portfolio.
There are also plans to add packaged foods such as biscuits and noodles in coming years.
Addressing media persons at the launch of the product line, Aseem Soni, Chief Executive Officer, Modern Food, said: “The products launched have new packaging and graphics, and are promoted digitally.”
The portfolio includes Milk Plus bread, Hi-Fibre brown bread, 100 per cent whole-wheat bread and Multigrain Superseed Bread, which is made from seven grain flour and contains Omega 3.
The products will be rolled out across India in the next 2-4 weeks.
The company expects 20 per cent of its volume growth to come from the health and wellness segment and it to drive the estimated 25 per cent revenue growth in the current fiscal.
Modern Bread registered a revenue of ₹270 crore for the year ended March 2017.
Rajev Shukla, Managing Director, Everstone Capital Asia and Singapore, which acquired Modern Food Enterprises last year, said: “We expect to reach the ₹,1000-crore mark by 2021.”
According to Shukla, “Right now, value-added products, especially the ones in the health and wellness category, are growing at a faster rate than white bread. This presents a huge potential for us.”
While white bread is growing 2-3 per cent annually, value-added products are growing 10 per cent.
The brand has a presence in 80,000 retail outlets across the country and the company plans to take it to 1 lakh by the end of March 2018.