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FMCG Brands of ITC Crosses $2bn Mark in Consumer Spending

ITC's FMCG brands have successfully crossed the $2bn mark in consumer spending in over a decade.
BY BEx Bureau
BusinessEx
Aug 01, 2017

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.

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