Latest News | ITC's FMCG Biz Grows at 14% CAGR in Last 3 Yrs, Aashirvaad Becomes Rs 8,000 Cr Brand
Get latest articles and stories on Latest News at LatestLY. Diversified group ITC's FMCG business expanded at a compounded annual growth rate of 14 per cent in the last three years while its Aashirvaad brand has become an Rs 8,000 crore product in terms of consumer spends, according to a company presentation.
New Delhi, Dec 12 (PTI) Diversified group ITC's FMCG business expanded at a compounded annual growth rate of 14 per cent in the last three years while its Aashirvaad brand has become an Rs 8,000 crore product in terms of consumer spends, according to a company presentation.
ITC is "one of the fastest growing FMCG Businesses in India" with rapid scale in revenues, which is largely "driven by brands developed in-house", ITC in an investor presentation released on Tuesday.
ITC's FMCG products are now "present in 3 of 4 households in India," it added.
Its foods business has a CAGR of 13 per cent over 10 years and 3-times growth in last 10 years.
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The Sunfeast brand has crossed over Rs 5,000 crore in terms of consumer spends, said ITC.
Moreover, its snacks brand Bingo, Yipee under which it sells instant noodles, Agarbatti brand Mangaldeep, stationery brand Classmate and its spice brand Sunrise have crossed Rs 1,000 crore of consumer spends.
The company measures annual consumer spend as the sum total of what the consumer spends on buying the goods of the company. It is the net sales turnover of the brands along with channel margins and taxes.
ITC said it is "strengthening Aashirvaad's presence in the Kitchen through adjacencies". Currently, it sells range of atta, ghee, salt, spices and instant mixes.
It is now "up-trading the consumers by creating newer vectors of value addition" with more products
The brand was started by ITC in May 2002 and now has become the number one in branded packaged atta across the country.
The company is operating with over 25 World-class Mother Brands in the FMCG segment and has a consumer spend of Rs 29,000 crore in FY 23.
ITC launched 300 products in the FMCG segment in the last three years.
Its total reach has extended to 7 million outlets and has a direct reach of 2.6 million households.
It is also scaling up MasterChef and incubating chocolates.
Over the personal wash, ITC said it's a Rs 24,000 crore industry, in which 3,000 brands are present.
Its brand Fiama is over-indexed on new age distribution channels. Its hygiene brand Savlon, which was acquired in 2015 has grown almost 10x in the last six years.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)