Nov 16, 2018
ITC’s second-largest selling instant noodles, Sunfeast Yippee! has become a Rs. 1,000 crore brand. The brand secures over 22% market share in the overall market in India. With two major goals achieved, ITC’s management is now aggressively looking for growth and is intensifying competition with market leader Maggi, Nestle India.
Hemant Malik, Div Chief Executive,Foods division said, “The brand is less than eight years old in the market and has captured a significant share. It’s become a Rs. 1,000 crore brand as reported by Nielsen India. When we got into the space, there was one very large competitor and it was very important for us to innovate and offer a differentiated product in the market. After seven-and-a-half years now, we have more than 22% market share led by innovations like round, long and non-sticky noodles sold along with vegetables in sachet. This was followed by another innovation 18 months ago in the form of mood masala for consumers who’d want to have a bit less or more spice in the noodles. The market share is higher at 37% in some of the markets in South India”.
Adopting a unique approach as marketing strategy, ITC has partnered with the food and grocery e-tailer bigbasket.com to vend noodles of My range noodles with 4 variants exclusively on the latter’s e-commerce platform. Malik said, “e-commerce platform is an effective tool to strengthen the brand’s visibility and build consumer franchise. Accordingly, the Yippee! My range noodles are being exclusively sold across the country on bigbasket.com for a period of one week. Thereafter, it will be available across retail stores nationwide.
“We believe a lot in the e-commerce space as it is growing over 120% for us in the last couple of years. While it’s still not a very large part, but certainly a very crucial part of our portfolio as we find that for certain categories, this channel can deliver much more. Digital/ e-commerce is very important opportunity areas as it offers a huge amount of consumer insights and shopping behaviour data that can be used to further grow the market for our products as well as build our portfolio of products,” said Malik.