R P Sanjiv Goenka Group forays into FMCG biz with 'Too Yumm'

Targets a revenue of USD 1 bn in next 5 years
Report by: 
EOI CORRESPONDENT
Kolkata
10 Apr 2017

The R P Sanjiv Goenka Group today announced its foray into the fast moving consumer goods (FMCG) segment, with a brand of snacks, named 'Too Yumm'. Group chairman Sanjiv Goenka, who was present at a press conference to unveil the products, said that the Group is eyeing a business of USD 1 bn in FMCG sales in the next five years.
"For the last two to three months we have been shifting our focus towards the FMCG business and we had decided to start with food. Since we Indians have a habit of uninhabited munching, we thought about introducing something that would be tasty as well as healthy and something that could be a good substitute for biscuits, chips and wafers". The 'Too Yumm' brand of snacks will hit the market with two products, Foxnuts and Wheat Thins, which will be available in multiple flavours. While the foxnut, which is traditionally knows as Makhana will be mixed with super grain like Amaranth, Wheat Thins are multi-grain crackers. Goenka said initially the two varieties will be available in the market but new flavours will be introduced in the coming months.
'Too Yumm' which will be launched in Kolkata and Pune on April 13 and National capital Region on April 17 will be introduced under the Guiltfree Industries, a 100 per cent ownership of the R P Sanjiv Goenka Group. Initially the two products will be available in 15-20,000 outlets in the three cities and the company has set a target of reaching 1,00,000 outlets in 40 cities within a year. Sharing details of Guilt Free Industries' business plans, Goenka said the company is eying acquisition in the forms of brand and infrastructures and talks are already on with many companies. He also said that the R P Sanjiv Goenka Group has a plan to invest Rs 10,000 crore in the FMCG segment in the next five to seven years. "We have started with food and will get into different sections under FMCG in the next few years", he said.