In a bid to broaden the reach of the Soulfull brand, Tata Consumer Products has forayed into the wafer biscuit category.
The latest addition to their lineup, Ragi Choco Sticks, has been priced by the company at INR 5 per individual stick and INR 150 for a pack of 30 sticks. With these offerings, the company is setting its sights on expanding its presence in rural areas.
Prashant Parameswaran, MD & CEO, Tata Consumer Soulfull Pvt Ltd, said, “We are setting close to 2X growth for ourselves. We need to ensure we scale the brand in the next two to three years. We took eight months to develop the Ragi Choco Sticks, as we do not use white flour which is the cheapest ingredient.”
“We tweaked the product in the manufacturing process, and made the base material economical. As we have increased the scaling, we have been able to manage affordability and offer the consumers a strong price point. At the same time, we have not compromised with taste,” he added.
Primarily recognized for its range of breakfast cereals and oats, the company is actively exploring opportunities to venture into fresh product categories. Notably, the company has announced plans to develop offerings within its existing sectors and aims to introduce products in four additional categories within the span of a year.
Soulfull products are currently accessible through 500,000 outlets across the nation, and the brand intends to amplify its presence in the domestic market by further delving into the general trade network.
“This is a completely general trade-focused Stock Keeping Unit (SKU) and at the same time, we will ensure that it is available conveniently, making it easier for consumers to reach out for the product. We are looking to explore the category and have a significant share at the year-end,” he said.
As reported earlier, Soulfull’s plans encompass the expansion of its Bidadi plant. This initiative is accompanied by the recent inauguration of a new manufacturing facility in Indore by the company, aiming to bolster the availability of its products in different corners of the country.
“The new Indore plant is strategically located as it will give us the ability to service the North, East, West and Central markets, as against serving these markets from Bengaluru. It will give us the ability to get higher volume products at a shorter distance and shorter time, which becomes an important part of our integrated distributed manufacturing strategy.”
“The facility will manufacture the snacking range of products, the larger volumetric SKUs that will enable us to save on freight costs over time,” he added.