Bengaluru, NFAPost: Annapoorna Masalas and Spices, a 45-year-old spice processing brand established in 1975, announced ‘Annapoorna 2.0’ plan to take total revenue to Rs 200 crore within three years and make it leading player among India’s growing FMCG sector.
The third-generation owners under the leadership of Executive Director Vijay Prasad is spearheading another journey to consolidate its position from its current turnover of Rs 40 crore with new brand identity.
The new growth roadmap for the brand will enable the company to consolidate its position as a leading player in the fast-growing FMCG industry estimated to be Rs 7,21,000 crores by 2020 of which the Food and Beverages segment accounts for Rs 1,36,990 crores in India.
Sree Annapoorna Foods (SAF) Executive Director Vijay Prasad unveiled Annapoorna’s new corporate identity including the logo, tagline, product packaging and marketing collaterals as the first step in the transformation journey ahead. Vijay Prasad said the refreshed look and feel with the brand promise of ‘The taste that unites’, signals a new chapter for the company, while retaining its rich heritage and family roots.
“We believe that food unites people and culture from across regions and India’s rich, traditional spices are what sets apart our cuisine,” said Sree Annapoorna Foods (SAF) Executive Director Vijay Prasad.
In its new avatar, the company plans to expand its current product portfolio of 53 products and 101 SKUs to over 80 products in the next 3 years.
Annapoorna will take a hitherto differentiated approach to enable this growth, by not only covering the entire gamut of pure and blended spices but more importantly by deep-diving into India’s rich food heritage and culture, to revive recipes that are unique to small regions across the country and widen its offering to new, innovative subcategories.
The company’s 35,000 sq. ft manufacturing plant located at Coimbatore has a capacity of 35 metric tonnes per day and is well equipped to support the brand’s ambitious growth plans.
Annapoorna is on its way to strengthen its current retail and distribution network to 500 distributors in the next one year. To begin with, Annapoorna will penetrate its stronghold across the Tamil Nadu market to cover over 50,000 outlets across cities, towns, and villages. This will be followed by geographical expansion to other neighbouring states in the region.
Speaking at the press meet Sree Annapoorna Foods (SAF) Executive Director Vijay Prasad said the company has a rich legacy, a strong business and a clear roadmap for growth by building among the best food brands in the category, right here out of Tamil Nadu.
“We have grown from strength to strength in the last four decades and have consistently evolved to cater to changing consumer preferences and market demands. Our new brand identity reflects our rich lineage to cater to future demands. A big part of our plan of action will be to invest in our R&D and products, combined with our people and a strong distributor and retail partner network,” said Sree Annapoorna Foods (SAF) Executive Director Vijay Prasad.
Sree Annapoorna Foods (SAF) Executive Director Vijay Prasad said the company has put strategies in place and invested in a specialised brand strategy team to initiate brand building activities.
“Annapoorna 2.0 will help the brand penetrate its product range to personalise offerings to food lovers and connoisseurs in every region. Indian cuisine’s tastes set apart and clearly distinguishes the Sree Annapoorna Foods (SAF) brand from other players,” said Sree Annapoorna Foods (SAF) Executive Director Vijay Prasad.
“We have successfully created innovative packaging designs for our products and wish to establish a strong digital presence through different media vehicles that serve various audience segments. The combinations of media mix have been planned for execution to achieve the company’s campaign goals and reach more homes across the country. Our top-line sales today is worth Rs 40 crore and we look to increase this to Rs 200 crore in the next three years. We are also committed to sourcing ingredients locally from regional farmers,” said Sree Annapoorna Foods (SAF) Executive Director Vijay Prasad.
Since its inception in the 1975’s, Coimbatore-based Annapoorna has been at the forefront of innovatively adapting to changing market needs and demands by introducing spices and blends, that have been lapped up with much enthusiasm for its unique flavour and taste that it brings to food. Founded by K Damodaraswamy Naidu as 1970 as Sree Annapoorna Gayatri Foods and led by R Velumani from the 1980s, Annapoorna is the epitome of rich and strong traditional values, as much as its recipes.
The company has close to 101 SKUs of pure and blended spices and is available across all cities and towns in Tamil Nadu at present. Its state-of-the-art manufacturing plant is located at Vadavalli near Coimbatore and it employs close to 400 people across Manufacturing, R&D, Marketing, and Sales.