A snapshot of Food Industry News
Burger King keen to take its India menu to UK
Burger King had introduced India vegetarian menu options like snacks, sandwiches and entry-level burgers. Since the response for this food has been good the Global Fast Food Giant is thinking of taking this menu to other vegetarian friendly countries including UK. Everstone Capital, the master franchisee for Burger King in India, had masterminded the menu for the Indian market. The QSR (quick service restaurant) format is doing very well in India because of the rise in disposable incomes.
Even though Burger King is a late entrant to the fast food scenario in India, since its launch last year, the chain has opened 18 restaurants in Delhi (NCR), Mumbai and Chandigarh. With this success Burger King is looking to open outlets in Bengaluru. It is also eyeing tier-II and tier-III cities. The strategy is to target outlets across malls and food courts. Each outlet requires a set up cost of anywhere between Rs.1.75crore to Rs.2.5crore.
New Variant ‘Chivas Regal Extra’ Introduced at Mumbai Duty Free
Chivas Regal has added another scotch whisky to its collection, Chivas Regal Extra. The new variant is presently only available at the Duty Free Shop in Mumbai’s Chhatrapati Shivaji International Airport International at Terminal ‘T2’. The company is likely to make Chivas Regal Extra available in other airports and in the domestic market before the festive season.
The launch of Chivas Regal Extra is being seen as another milestone for Chivas Regal. The new Scotch whisky has an exceptionally rich and generous tasting blend. Chivas Regal has always been a popular and relished brand of whiskies since they were created by the two brothers James and John Chivas in the 19th century. These special whiskies are matured in Oloroso sherry casks together with the rarest and finest Chivas malts.
ITC Aims to Become the Most Trusted Provider of Food Products in India
ITC launched its packaged food business in 2001 with ready-to – eat meals and today their food business accounts for 71% of their revenues. ITC has become the third largest listed food company after Nestle and Britannia. ITC feel they are well positioned to become the most trusted provider of food in the Indian market. They could make this possible as they have a strong portfolio of world class Indian brands. They also have a deep insight into the taste preferences of the Indian consumer. Analysts are also of the view that the firm will foray into the dairy business to boost revenues.
Despite the Maggi controversy the company has invested a large amount to increase the capacity of their ‘Yippee’ brand of snack foods. The company is hoping to see these foods paying off once the adverse effects of the Maggie instant noodles episode wear off in the near future. The new facility at Malur, Karnataka will be able to service the demand for their ‘Sunfeast’ and ‘Yippee’ brands. As part of the strategy to have a reckoning the food business ITC will be launching a number of sub-brands to their new brand B-natural. They would like to leverage their expertise in agri-sourcing and their widespread distribution network to give impetus to the B-Natural brand which was launched in January 2015.
Sanjeev Kapoor’s Wonderchef is all set to Expand
Sanjeev Kapoor’s Wonderchef Home Appliances (P) Ltd. will make an investment of Rs.30crore to build brand focus, reinforce the design team so they can develop innovative products for the Indian market and increase their distribution network. They will also be setting up an integrated manufacturing unit for high end appliances. Wonderchef is India’s second largest premium kitchen appliance and cookware brand and the company wants to create a more powerful brand. The company has got backing from the Zurich based investment firm Capvent,
Though a number of investment firms were willing to back the five year old company that has established itself in this segment, Wonderchef selected Capventa to back them. Capvent is a Zurich based investment firm that is known for its quality team and the strategic outlook that builds brands and businesses. Sanjeev Kapoor, the celebrity chef and co-founder of the company, expressed his commitment to the success of Wonderchef. Capvent on the other hand say they are focused on creating value for all stakeholders of Wonderchef and intend to make it a leading quality kitchen brand in India.
PM laid the foundation stone for IARI-Jharkhand
The Prime Minister, Narendra Modi on Sunday laid the foundation stone for the Indian Agriculture Research Institute’s (IARI) 1,000 acre campus. Union Agriculture Minister, Radha Mohan Singh was also present on the occasion. This initiative will help to establish a state-of-the-art research institute which will also focus on higher agricultural education for the agriculturally rich state of Jharkhand. It is also expected to promote technology-driven growth for agro-industries and is expected to give a boost to the governments Make in India initiative. Agro industry will economically empower first generation rural entrepreneurs as well as those employed in related ancillary industries.
IARI will provide a major fillip to agriculture in the region through the integrated Farming Systems (IFS) for which research will be carried out by premier institutes like School of Natural Resource Management, School of Crop Improvement & Protection, and School of Horticulture and Forestry with integrated Animal Sciences, Basic Sciences and Social Sciences. The local farmers are likely to benefit through prioritised research on soil health, management of both surface and ground water, diversification of crops, profitability for tribal families through horticultural technologies, development of region specific integrated farming. The IARI will collaborate with international organisations and NAREES for empowering regional farmers with cutting edge technological to boost the economy.