FMCG giant Britannia Industries will launch dairy products and croissants by October-November through its joint venture with Greek cakes and confectionery major Chipita by March 2020. In addition, the company will continue to add new countries in its list and look for new markets in Africa, as they soon enter Bangladesh and Myanmar. It also has plans to launch around 50 new products under its existing as well as new categories by the end of the next fiscal as part of efforts to be a total food company.
Britannia Industries Managing Director Varun Berry said, “Almost 50 new products would be there by the end of next financial year. We are looking into other areas as bakery and outside bakery, the macro-snacking category, which could be potential areas for us to grow.”.
Besides, Britannia may also launch new sub-brands in the market for some categories, although it will primarily rely on its existing ones. The company is in the process of putting up a manufacturing line with its JV partner Chipita for croissants, which is expected to come up by the third quarter of the coming fiscal.
The company is also in the process to set up Rs 1,000-crore plant at Ranjangaon, Pune which would be an integrated food park, Berry said, two plants in Guwahati and export-oriented unit at Mundra SEZ would be commercialised early next year.
Britannia’s Nepal plant would start in the fourth quarter of the next fiscal as it is awaiting environmental clearance there. The MD said “Our target is to add new country every year and that is going well. We have still not identified the next destination but we are looking at a bunch of countries in Africa, and countries like Myanmar and Bangladesh. We would identify one of those and move forward in FY 2019-20.”
A present, Britannia has manufacturing units in Dubai and Oman, which cater the Middle East markets