ITC has reportedly initiated an over 14-15 percent price hike in its ‘Navy Cut’ and ‘Gold Flake’ brand of cigarettes. Both ‘Navy Cut’ and ‘Gold Flake’ (regular) are considered to be mid-market brands and were priced at Rs 78 for a packet of 10 sticks.
For the new ‘Navy Cut’ packets, the printed price is Rs 89 for 10 sticks of 74 mm. In the case of Gold Flake regular (which has a stick size of 69 mm), the maximum retail price has been revised to Rs 90 approximately.
ITC has business a interests in cigarettes, hotels, paperboards and specialty papers, packaging, agri-business, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products.
