WeikField Foods plans to widen product offerings to check revenue contraction

These new product offerings will also help the company minimise its revenue contractions during the current scenario where there are a lot of manufacturing and supply disruptions affecting business in general, he added. The Pune-headquartered company, which has offered international cuisines related products including custard, corn flour, baking powder, cocoa, pasta, falooda, sauces and cake mixes, is now eyeing the ready-to-eat segment.

WeikField Foods, famous for its custard powder and pasta, is planning to further diversify its products offerings, including in the tea segment, as part of efforts to minimise revenue contractions, a top company executive has said. The company also has plans to enter the ready-to-eat segment towards the end of the next year.

"Immunity is a major concern for everyone, which is very relevant especially during the current scenario of COVID-19. We already have a green tea product offering under our Eco Valley brand. We decided to expand our product offerings under our organic tea segment with different infusions that help build immunity. We are planning to launch herbal infusion organic tea next month," WeikField CEO Dipy Sachdeva told PTI. These new product offerings will also help the company minimise its revenue contractions during the current scenario where there are a lot of manufacturing and supply disruptions affecting business in general, he added.

The Pune-headquartered company, which has offered international cuisines related products including custard, corn flour, baking powder, cocoa, pasta, falooda, sauces and cake mixes, is now eyeing the ready-to-eat segment. "We are looking to enter the ready-to-eat segment. However, it will take time as we are still evaluating it. We hope to launch products in this segment in the next 12-18 months. In this product segment also, we intend to offer international cuisines," he added.

Meanwhile, under the present COVID-19 situation, the company is working with 70-80 per cent manpower following the mass migration of labourers to their villages. "Over 40 per cent of our workforce is migratory and (workers) have gone back home. It's a problem and was basically due to fear psychosis. We are in touch with them and are helping them to come back. We have also trained local people to manage during this time of crisis," the CEO added.

The disruption during the current crisis impacted the supply chain, he said adding that for seamless distribution the company has decided to adopt alternate channels. "As there was lockdown, April was a complete washout in terms of distributions. In May and June we were able to pick up as we joined alternate distribution channels like tying up with Swiggy, Zomato, among others," Sachdeva said.

Besides supply and manufacturing, WeikField is also facing challenges on procuring raw materials for its products, however, the company is expecting things to become normal during this financial year, he added. Recently, Weikfield Foods announced a comprehensive repositioning strategy with a new branding in a bid to revitalise and strengthen its brand equity.

The new Weikfield Brand Identity is a more modern, dynamic take on the existing identity, a step up towards a younger vibrant persona, the company had said in a statement adding that from the logo typeface to the packaging, colours and stylised fonts – the new identity is aimed towards making the brand relevant to the current times and choice for all generations. "But we have bigger ambitions – to make Weikfield one of the most loved food brands in India based on the platform of International cuisine. The idea behind the change is, therefore, to set the Weikfield brand up for the same," Sachdeva said. He further said that's why after 64 years, "we have decided to hit refresh and have this makeover. Our new avatar represents an evolution from our illustrious lineage – bridging the past with the future".