Tata Consumer Products Limited is all set to introduce a new line of products. Its innovation center in Pune is constantly working towards developing around 30 new products including rice flour and poha, as told by Amit Chincholikar, Global Chief Human Resource Officer, according to a report.
The primary objective of the new launch is to reach out to more and more households with more and more products in different categories. With this, they can ensure availability in both modern trade outlets and Kirana stores in rural areas, said Chincholikar.
“We are fairly bullish. We believe we have the right set of products, the brand value of Tata and a strong distribution network,” Chincholikar added.
Tata Consumer Products Limited (TCPL) recently became a combined entity of four verticals as it added food to its business after successfully running its business in beverages and water. With the new launch, the company eyes to grow at a much faster pace. The goal is to receive an 8 percent growth this year.
Talking more about the new launch and marketing strategies, he asserted, "With a 20 percent market share in the tea segment, our focus is more on specialty and high-quality premium products. It is our advantage that our tea is available across all price segments."
