According to a company presentation, ITC’s FMCG business grew at a compound annual growth rate of 14% over the last three years, and its Aashirvaad brand has grown to become a Rs 8,000 crore product in terms of consumer spending.
In an investor presentation made public on Tuesday, ITC stated that it is “one of the fastest growing FMCG Businesses in India” and that its quick revenue growth is mostly “driven by brands developed in-house.” It further stated that ITC’s FMCG goods are currently “present in 3 of 4 households in India.”
Its food business has grown three times in the last ten years, with a compound annual growth rate (CAGR) of 13%. Consumer spending on the Sunfeast brand has surpassed Rs 5,000 crore, according to ITC.
Additionally, the company’s snack brands Bingo, Yipee, which provides instant noodles, Mangaldeep, Agarbatti, Classmate, stationery, and Sunrise, spices, have exceeded Rs 1,000 crore in sales. The entire amount a customer spends on firm items is how the business calculates their annual consumer spend. It is the total net sales turnover of the brands plus taxes and channel margins. The ITC stated that it is “strengthening Aashirvaad‘s presence in the Kitchen through adjacencies” .
At the moment, it offers a variety of quick mixes, atta, ghee, salt, and spices. Now that it has more products, it is “up-trading the consumers by creating newer vectors of value addition”. Since its launch by ITC in May 2002, the brand has risen to the top of the national branded packaged atta market. In the FMCG sector, the company works with more than 25 world-class mother brands, and in FY 23, consumer spending amounted to Rs 29,000 crore. In the last three years, ITC has introduced 300 goods in the FMCG sector.
It now has a direct reach of 2.6 million households and a total reach of 7 million outlets. Incubating chocolates and expanding MasterChef are also part of it.
According to ITC, the personal wash market is worth Rs 24,000 crore and has 3,000 brands. Fiama is its brand, and it has an overindex on modern distribution methods. In the last six years, the company’s 2015 acquisition, Savlon, a hygiene brand, has expanded by almost ten times.
Read More: Click Here