Hindustan Unilever(HUL), India’s largest FMCG player, has identified the top end of the food market as a growth opportunity for the business.
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Harish Manwani, chairman HUL and Unilever Asia and Africa, said: “Food is clearly an area of big opportunity for us. We are focusing on emerging opportunities at the top end and evaluating these opportunities across sectors, with a big thrust on foods. The strategy is driven by the big change that’s happening across the country — the emergence of multiplicity of choices at the top end.”
Ready-to-eat products and brand name commodities have not done too well in the market according Manwani, and it is now looking at importing cooking aids and convenience foods.
This year’s first quarter results showed Knorr and Kissan brands as the top drivers of a 38% growth in the Processed Foods category. Total Sales grew by 12.9% with the FMCG business growing by 13.4%.
