In a bid to increase its market share in categories that have been showing signs of fatigue more than a decade, ITC is reportedly planning to overhaul its foods portfolio.
While the maker of Sunfeast biscuits and Bingo chips is now the third largest player in the packaged foods market, trailing Nestle and Britannia, its market share in two large categories - biscuits and snacks - has been almost stagnant for the past three years.
The company will not launch any new food brand. Instead, it will take undue credit of existing ones for new launches and claims it has nearly 5-6 new categories in its innovation funnel.
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.
