Rasna targets Rs 250 crore turnover with health food brand Vitos
Soft drink and fruit concentrate company Rasna on Thursday said it was venturing into the baked goods category called Vitos.
The company said that it will be looking to expand the reach of Vitos to neighbouring countries like Nepal, Bangladesh and Sri Lanka.
Rasna’s Chairman and Managing Director, Piruz Khambatta said, “Vitos is our answer to the huge opportunity in the evening snacks and kids back from school segment. This product will drive the proposition of evening snacking in a tasty and healthy manner.”
"Speaking about its investment in Vitos, Khambatta said, “The investment in Vitos is not only in the plant. We have used investment in distribution, marketing and manufacturing, all put together something like Rs 100 crore.”
Khambatta said, "We are looking at 5% market share of a Rs 5,000 crore market that is growing at 15-16% in the next three years. We are looking at Rs 250 crore turnover from this category in the next three years."
The company said that the product will be available in chocolate and strawberry flavours only.
Speaking about upcoming projects from Rasna, Khambatta said, “We will be now looking at launching snacks in the ethnic variety. As of now the big challenge for ethnic variety is that they are all deep fried and may not necessarily be considered as healthy snacks.”
Khambatta also added that it will be launching new variants of Rasna’s beverages next month but was unwilling to give out more details.
Rasna’s total turnover from international markets is around 30%, Khambatta told the reporters present at the launch. The company will also be looking to expand its reach in Africa, he said.
Rasna also announced in the press conference regarding setting up of new powder facility at Chittoor, Andhra Pradesh which the company claimed would add another 20% to its capacity to its double digit growth plan.