Britannia Industries is contemplating potential joint ventures (JVs) to venture into lucrative segments such as chocolates, fresh dairy, and salty snacks, according to Varun Berry, Vice Chairman and Managing Director of the company.
Berry revealed that Britannia has engaged Bain & Co., a global consulting firm, to develop an aggressive ‘go-to-market’ strategy, leveraging data-driven approaches to explore opportunities in these high-margin categories.
The company aims to meticulously map its target market segments to effectively challenge existing players in the new categories. Additionally, Britannia plans to bolster its sales team by recruiting new talent to support this expansion initiative.
While acknowledging the challenges of penetrating the competitive chocolate market, Berry emphasized that Britannia is focused on strengthening its presence in existing categories before venturing into new ones. The collaboration with Bain aims to identify untapped opportunities for enhanced distribution across markets.
Dispelling market speculations regarding a potential stake sale in Britannia to larger players or private equity firms, Berry affirmed that such rumours hold no truth. He reiterated the company’s commitment to remain independent and focused on its growth trajectory.
Despite aspirations to diversify its product portfolio, Britannia’s immediate priorities include scaling up existing categories such as biscuits, cakes, rusks, croissants, energy bars, protein bars, cheese, milkshakes, and yoghurt.
Berry emphasized the importance of consolidating existing operations to achieve better focus and scale. Notably, Britannia’s cheese business has witnessed significant growth, now amounting to a turnover of ₹100 crores.
Among Britannia’s notable biscuit brands are Marie Gold, Tiger, NutriChoice, 50-50, Treat, Pure Magic, Milk Bikis, Bourbon, Nice Time, and Little Hearts.