Parle Products is set to increase the share of its premium Biscuits portfolio to 20-25% with new launches within two-three years. It will help them to expand its distribution for brands such as Milano, Nutricrunch and Hide & Seek.
What’s The Matter?
Parle is planning to take premium brands to new markets as well as make them accessible across price points.
At present, Parle is a top biscuit maker in India famous for its mass-market brands such as Parle-G, KrackJack, Monaco, and Nice, which compete with Britannia Industries’ and ITC’s biscuit brands. However, as consumers seek more variety and trade for better products, companies have beefed up their premium offerings.
Mayank Shah, senior category head, Parle Products Pvt. Ltd. said
Premium is doing well for us. There’s a good range that we have launched a few years ago and we’re looking at ramping our distribution to make it available to the remotest parts of India. Currently, it is available in most big cities or almost the entire urban India. Now, the idea is to go down in suburban semi-urban areas, as well as through smaller packs
In 2017, Parle launched the Platina division to house all its premium brands. Parle says its premium biscuits are priced at 250 and above per kilo.
The firm’s indulgent and aspirational range includes
- Nutricrunch,
- Milano and
- Hide & Seek.
Krishna Rao, senior category head, Parle Products. said
Currently 14-15% of contribution comes from premium. We are looking at about 20% contribution in the next 2-3 years. These will be at a 10 per pack price point. It’s about giving easy access to consumers who have disposable income, and are willing to spend, but don’t really have as much of a choice as their urban counterparts; they are looking for such opportunities and we are trying to tap the opportunities
Recently we extended Parle Platina in breakfast cereals—it is doing quite well. Premium can be in any category. We have continuously been on the lookout for categories which will fit into our scheme of things in the premium (range). Wherever there is synergy, we may want to explore
- The company will also look to expand its premium portfolio by entering new categories.
- It has recently launched breakfast cereals under the Hide & Seek brand; in 2019,
- The company invested in Bengaluru-based startup, WIMWI Foods, which makes the ASAP brand of energy bars.
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