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ITC to launch new Bingo variant to consolidate salty snacks mkt shr

Wednesday, Nov 14

    By Yaruqhullah Khan     
    NEW DELHI – In order to compete with the launch of new salty snacks by PepsiCo India Holdings Pvt Ltd, ITC Ltd will launch its own ‘traditional flavours‘ snack under its Bingo! brand soon, market sources told Cogencis.
    ITC’s new product ‘Tedhe Medhe Wakhra Style’ snack is aimed at PepsiCo’s recently launched variants of ‘Twistkeen‘, a new snack under the Kurkure brand.
    ITC, the country’s largest fast moving consumer goods company, has around 21% market share in the 230-bln-rupee salty snacks market and is the market leader in the 34-bln-rupee bridge snack sub-segment. Its rival PepsiCo India has an overall market share of 26%.
    Bridge snacks are items adapted to local flavours, but the product is western.
    ITC’s Bingo! Mad Angles and Bingo! Tedhe Medhe brands have around 31% market share in the bridge snack segment.
    The launch marks the second new product ITC has come out with in the bridge segment, the first being Bingo! Mad Angles Very Peri Peri.
    The product will soon be available at all modern and general trade outlets across India in pack sizes of 45 grams for 10 rupees and 90 grams for 20 rupees, people in the know told Cogencis. 
    The company had in September reduced the weight of five variants of Bingo! Mad Angles by up to 13.3% and four variants of Bingo! Yumitos chips by 11.1%.
    ITC’s Mad Angles is popular as a snack among young consumers, which has helped the company gain market share, a Delhi-based analyst said.
    Besides the new product, the conglomerate has also increased the price of its ‘Sunfeast Plain Nice’ biscuits by 25% since November and the weight of its ‘Sunfeast Snacky Salted’ biscuits by 28% after reducing it by the same amount in October, the sources quoted above said.
    The Kolkata-based company is also looking to push sales of Fiama Di Wills shower gels after increasing the effective weight of its offer pack by 24.3% in November, sources said.
    At 1507 IST, shares of ITC were down 0.3% at 276 rupees on the National Stock Exchange.

Following is a list of ITC prices that have been changed in November:

S.NoProduct Name New Grammage Old GrammageNew PriceOld Price




(Rupees) (Rupees)
1Sunfeast Plain Nice 150 grams 150 grams2520
2Sunfeast Snacky Salted 64 grams 50 grams 1010
3Fiama Shower Gels all variants (250 + 185) ml(250 + 100) ml199199

End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Maheswaran Parameswaran

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Cogencis Information Services Ltd. 2018. All rights reserved.

This copy was first published on the Cogencis WorkStation

©Cogencis Information Services Ltd. 2018. All rights reserved.

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