According to Binod K Chaudhary, chairman, CG Foods, brand Wai Wai has offered a unique product, grown with the times and has been the preferred choice of the youth for a long time now.
Having banked on word of mouth for building visibility of instant noodle brand Wai Wai in India for almost a decade now, CG Foods is now embarking on a 360-degree promotional campaign as it looks to capture market share in west and south India regions. Advising the company on its advertising and promotional plans is Colvyn Harris founder of Harris-Mint and former executive director global growth and client development of J Walter Thompson Co (JWT).
According to Binod K Chaudhary, chairman, CG Group, brand Wai Wai has offered a unique product, grown with the times and has been the preferred choice of the youth for a long time now. "We have made a conscious decision to take the brand and the noodle industry to the next level. The total India market is around Rs 2,500 crore and our intent is to grow it to Rs 25,000 crore in the next 10 years. And we want to have at least 50% market share for Wai Wai in that time frame. That's our target and we are confident of achieving it in the coming decade," said Chaudhary.
However, he did not share details about how much money has been earmarked by the company towards advertising and promotional spends. "It will be too early to give a figure. We would like to first implement the promotional strategy and analyse the market response over the next three months," Chaudhary said.
Part of the $1.16 billion multinational conglomerate CG Corp Global, CG Foods claims to be the only company to have a widespread noodle manufacturing facility across India. "Our exposure, particularly for the noodles business, is Rs 250 crore. Growing annually at 40%, we currently have 27% market share in the Indian noodles industry. With the new campaign rolling out (on August 5, 2016), it should give us a huge vertical growth in the coming years," said Chaudhary, adding that the company currently has eight manufacturing facilities across India with an annual capacity of 2.3 billion packets.
The company has over the past six months invested significantly in improving the distribution of its stock keeping units (SKUs) across traditional and modern trade. CG Foods hopes the product availability scenario to improve significantly once the campaign is rolled out and youth in the western and southern region start demanding Wai Wai noodles in the respective markets. "Consumer pull combined with trade pull for our SKUs will come from the marketing campaign and eventually help us increase market share in these regions," Chaudhary said.
Colvyn Harris, CEO, Harris-Mint and strategic advisor to CG Foods, said that a comprehensive strategic roadmap has been chalked out for the brand. "The product has a unique category benefit in the snack and meal space which is anytime, anywhere, anyhow. We are the only brand in the ready-to-eat category while all the other brands are ready-to-cook. The core brand positioning is 'Munch It! Soup It! Lunch It!' and the campaign will showcase this versatility and taste edge, besides creating a strong connect with its primary audience i.e. the youth in the 16 to 25 year age group. The intent is to be the leading brand within the next three years, in the markets we operate in. We are looking at two clear market segments - mainstream India and digital India with a dominant online presence," said Harris.
Kwid in 1-litre engine
French auto major Renault is set to launch a new version of its small car Kwid that will be powered by 1-litre petrol engine, thus enhancing its offering in the Indian market, said a top company executive. The company, which currently sells the Kwid with an 800cc engine, is looking to garner 5% share in the Indian car market by the end of this year. According to Sumit Sawhney, country CEO and MD, Renault India Operations, the company has already sold over 75,000 units of the Kwid since its launch in September last year. "With the launch of the 1-litre Kwid, we will be further enhancing our offering in the segment and serve customers who are looking for a more powerful vehicle in the entry-level segment," he said. The pricing of the new car is yet to be announced.
Kalyan to go online
Kalyan Jewellers is planning to launch its online portal this Diwali to tap the online business, said a senior company executive. Though online gold jewellery business is negligible, the company tied up with Flipkart four months ago and planned to start its own portal by Diwali, said Ramesh Kalaynaraman, executive director, Kalyan Jewellers. As ornament purchases attach traditional and sentimental values, customers go to showrooms personally, he said, adding a trend has begun where customers buy ornaments online and send them as gifts to near and dear ones. Kalyan currently has 100 showrooms and plans to open 20 more stores in India and five in the Middle East this fiscal with a total investment of Rs 700 crore in India and Rs 200 crore overseas, including Saudi Arabia. The company, which registered 30% growth, expected a turnover of Rs 13,000 crore in the current fiscal as against about Rs 10,000 recorded during 2015-16, said Kalaynaraman.
—Compiled by Ashish K Tiwari
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