One of India’s largest biscuit maker, Britannia Industries, has ventured into the chocolate wafers category by taking on the likes of Nestle’s KitKat and Cadbury’s Perk, according to a report published in The Economic Times.
The maker of Good Day and Marie biscuit will sell chocolate wafers under the Pure Magic biscuit brand.
Britannia VP marketing Ali Harris Shere told the financial daily that ‘this marks our first time in the real chocolate space and we will retail the product accordingly, with the main focus on modern and e-commerce.
The company launched the product in Bengaluru and now plans to take it pan-India.
According to the research firm Nielsen, Britannia commands 30 percent market share in the Rs 27,000-crore biscuit category in which it competes with Parle and ITC’s Sunfeast.
The company which was founded in 1892 and has a presence in biscuits, bread, dairy, cakes and rusk categories entered into an exclusive tie-up with Amazon in 2014 to sell its product on the latter website such as Good Day Chunkies, a super-premium chocolate chip cookie.
Britannia sales were impacted by the cash crunch led to demonetisation announced by the Prime Minister Narendra Modi in November 2016 created partial slowdown in consumption of confectionery products as it is mostly driven by cash.