In over a decade $2-billion mark crossed in consumer spends on ITCs FMCG brands. ITC chairman Y C Deveshwar said at the AGM on Friday that the FMCG business of the company has crossed Rs14,000 crore in consumer spends.
Considering the fact that the tobacco-to-hospitality giant had entered the new FMCG segment over a decade ago, the conglomerate would be one of the fastest among FMCG majors to reach the milestone.
ITC, which had introduced food segment in late 2005, has a presence in biscuits, ready-to-eat foods, confectionery, snacks and packaged food grains. The company currently has 25 mother brands and two of them - Aashirvaad and Sunfeast have already crossed Rs 3,000-crore mark. Classmate, Bingo and Yippee each has crossed Rs 1,000-crore mark, while Vivel and Candyman have crossed Rs 500-crore mark. It hopes that Savlon too would cross the Rs 500 crore mark in next three-to-four years.
Foods business, according to ITC CEO Sanjiv Puri, contributes to almost 75% of the company's FMCG pie and is growing at13.7% annually. However, Puri indicated that there were some disturbances owing to GST but it was much less than what the company was anticipating. ET reported.