NOT FOR A MOMENT DOES SANJIV PURI TAKE HIS EYES OFF YOU. “DO YOU LIKE THE MISHTI DOI?” HE ASKS IN A TONE THAT IS QUIETLY CONFIDENT. ONCE YOU REPLY IN THE AFFIRMATIVE, HE SMILES AND OFFERS YOU SOMETHING MORE TO EAT. IN HIS TASTEFULLY DONE UP OFFICE IN KOLKATA, THE CHAIRMAN & MD OF ITC IS THE QUINTESSENTIAL CURIOUS MIND ON CONSUMER TASTES AND WANTS TO PUT THAT TO SOUND MARKETING USE BY LAUNCHING THE RIGHT PRODUCT.
QUALITY IS PARAMOUNT and in two decades, the company, once synonymous with cigarettes, has become a large player in India’s high-growth fast-moving consumer goods (FMCG) business. Now, it has got to revenues of ₹16,000 crore in FY22 spread across four segments—branded packaged foods, personal care, education and stationery, and matches and agarbattis. With a tinge of pride, Puri says the company has created over 25 “mother brands”. He makes it clear that ITC aims to become India’s largest FMCG company. Only the recently-listed Adani Wilmar (₹54,386 crore) and Hindustan Unilever (₹52,704 crore) are ahead of it.
Just to go back in time, ITC, about a decade ago, said its vision was to be an FMCG company with a turnover of ₹1 lakh crore by 2030. That is some distance away but in his usual understated manner, Puri says they will get there. Meanwhile, the share of non-cigarette FMCG and agri business combined is now touching 50 per cent of ITC’s consolidated revenues, while the share of cigarettes has fallen from 49 per cent in FY18 to 39 per cent in FY22. (See graphic ‘The Big Shift’.) Obviously, Puri is looking to sustain the growth momentum that took off from nothing since its foray in 2001 to where it is today.
Bu hikaye Business Today India dergisinin September 04, 2022 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Business Today India dergisinin September 04, 2022 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
The EV Craze
The country’s growing luxury car market is seeing a shift with environmentally-conscious consumers betting on electric vehicles as a sustainable travel option. Though just 6%, the share of EVs in the luxury segment is rising rapidly
The Storage Boom
Data centres are being built at a frenetic pace in india as companies scramble to meet the ballooning demand from mobile phone users and firms adopting al. Can the country’s energy infrastructure keep up?
India Beckons
Owing to rising incomes in India and overall wealth expansion, luxury brands are wooing the country like never before
The Pearls of The Sea
Caviar, that rare food, is considered the epitome of fine dining. Here is everything that you need to know about it
66.Brand persona should define the core"
I’d say this was a strategic pivot. We had an iconic brand, but had, over time, evolved into diversified lines of businesses that could no longer be represented within the confines of our ‘name’.
Unwind in Style
Here is acomprehensive list of top tech picks that help you unwind by blending perfection in performance with luxury
A Lifelong Affair with Inspiration
In my art journey, the diversity of my acquisitions mirrored the expanding horizons of my understanding of art
Make it Bubbly
Champagne is much more than just a symbol of celebration and success. Know about its nuances beyond the bubbles
Palatial Splendour
Buoyed by renewed demand, sales of the glitzy mansions of the ultra-rich are surging like never before. Real estate majors are looking to capitalise on this by launching luxury offerings in record numbers
Of Beaches and Cream
GianChand Single Malt Whisky