Coimbatore based Annapoorna Masalas and Spices, a 45-year-old brand established in 1975, has announced ‘Annapoorna 2.0’, a new growth roadmap for the brand that will enable it to consolidate its position as a pioneer and leading player in the fast-growing FMCG industry estimated to be Rs 7,21,000 crore by 2020 of which the Food and Beverages segment accounts for Rs 1,36,990 crore.
At a virtual press meet held on 4 September 2020, the family-run company’s executive director and third-generation entrepreneur Vijay Prasad, who is spearheading the makeover, unveiled Annapoorna’s new corporate identity, including the logo, tagline, product packaging, and marketing collaterals, as a 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.”
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 three years. The company said Annapoorna would 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 tons per day and is well equipped to support the brand’s ambitious growth plans.
Annapoorna to strengthen retail and distribution network
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 neighboring states in the region.
Speaking at the press meet, Prasad said, “We have 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. We have also put strategies in place and invested in a specialized brand strategy team to initiate brand building activities.”
“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.”