ITC debuts into frozen foods segment under ITC Masterchef brand
DSIJ Intelligence / 06 Jun 2017
Kolkata-headquartered multi-business conglomerate, ITC has entered into the market of frozen foods as it has started selling frozen prawns under the Masterchef brand. In order to reduce their dependency on cigarettes, the company will expand its business of fresh and frozen fruits and vegetables.
Kolkata-headquartered multi-business conglomerate, ITC has entered into the market of frozen foods as it has started selling frozen prawns under the Masterchef brand. In order to reduce their dependency on cigarettes, the company will expand its business of fresh and frozen fruits and vegetables.
Currently, frozen prawns market is dominated by the brands like IFB, Sumeru, Cambay Tiger and the estimated worth of the market is Rs 300 crore. ITC will market the frozen prawns in Delhi and Hyderabad and later by October they will sell the products in five more cities namely, Pune, Bengaluru, Mumbai, Chennai and Kolkata.
The price range for 200 gram packs will be between Rs 185 and Rs 350 and the product will be available online.
Every quarter the company has planned to launch a new product in the market. ITC has also planned to launch the other products like low-sugar potatoes, potato-based snacks (French fries, bhindi, carrots & peas). Not only this they also planned to expand its business by providing the products like dried onions and mango pulp which can be added to foods such as ice-cream and lassi.
On June 6, 2017, ITC Ltd. was trading at Rs 311, down by 2.05 per cent on BSE at 11:48 hours. It opened at Rs 318.15 while previously closed at Rs 317.50 on Monday.