Jubilant FoodWorks enters FMCG space; sets up direct competition with HUL, Nestle
- IBEF
- August 7, 2020
Jubilant FoodWorks Ltd, which operates Domino's Pizza and Dunkin' Donuts outlets in India, announced its entry in FMCG (fast-moving consumer goods) segment with a range of ready-to-cook sauces, gravies and pastes.
It has stepped into the Rs 500 crore (US$ 70.93 million) ready-to-cook condiments space, setting up direct competition with packaged foods makers including Nestle, Hindustan Unilever and Dr Oetker.
It has launched a range of sauces and pastes through its new brand 'ChefBoss' that will initially be available for consumers across e-commerce portals.
JFL senior VP (new business) Mr Vikran Sabherwal said, “Demand for ready-to-cook food products has been increasing over the last few years on account of busier lifestyles of consumers and their desire to explore different cuisines at home. During COVID we have seen an acceleration of this trend and therefore an exponential growth in demand for ready to cook products.”
The sale of these products will start soon with Amazon (National), Flipkart Supermart (NCR, Mumbai, and Bengaluru) and Milkbasket (NCR).
The company also plans to expand product availability by adding more e-commerce platforms as well as retailing through supermarkets and hypermarkets in the near future.
Mr Shyam S Bhartia, chairman, and Mr Hari S Bhartia, co-chairman, Jubilant FoodWorks, said, "We are delighted to enter the Indian FMCG segment with 'ChefBoss'. This brand is based on our sound understanding of the Indian consumers' taste preferences and our commitment to provide the best quality products. Our research suggests that consumers now, more than ever before, are looking to explore and add new dishes to their cooking. We believe ready to cook products that are quick and easy to make, are the right solution to aid consumers in the endeavour to broaden their culinary expertise."
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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