Nestle to expand product offering, evaluates inorganic growth route
FMCG major Nestle India has plans to expand its product offering by introducing special masala noodles, dips and dark chocolates soon as part of its expansion drive, a top company official said.
"Till now the company has been completely on the organic growth path. If anything worthwhile that comes up, does become a candidate for discussion if not execution," said Nestle India Chairman and Managing Director Suresh Narayanan.
However, on being asked about on possibility of acquiring both the brands, Narayanan said: "Today it’s a realm in the speculations. I think the realm malted food drinks is in the portfolio of the company. We cannot comment on that is clearly speculative."
As part of its product diversification, Nestle would introduce a special masala noodles variant comprising signature herbs and spices.
"Moreover taking forward our journey in the value-added dairy segment, we will be entering with a unique set of yogurt based dips and seasonings with Maggi Dips," he said on a media roundtable here.
It would also introduce Dessert Delight Brownie cubes under its Kitkat brand, which would be a combination of dark chocolate and wafer.
Nestle, which launched over 40 products following the Maggi crisis about three years ago, is also doing a product review and has also discontinued four products in last year as they failed to get a favorable market response.
"Some of the innovations and renovations that did not work well across consumers include NESCAFE Sunrise Insta-Filter and Everyday Masala Fusion," he added.
Besides, Nestle would also enhance its presence in the beverages vending segment with its Frio.
Nestle, which has also forayed into the morning breakfast segment, today also introduced its Nesplus range for the traditional retail channels.
Nestle, which has a century-old association with the country, crossed the Rs 10,000-crore sales mark in India and registered successive volume growth for the ninth quarter in April-June.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)