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| GSK Consumer forays into noodles segment |
| Press Trust of India / New Delhi Feb 03, 2010, 17:11 IST |
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Global FMCG firm GlaxoSmithkline Consumer Healthcare today announced its entry into the noodles segment, with aims to capture 10 per cent of the estimated Rs 1,000-crore organised noodles market within a year.
The company launched its noodles under the popular Horlicks brand named 'Foodles' that is expected to compete with market leader 'Maggi' from Nestle.
"The Indian noodles market is estimated to be around Rs 1,000 crore and has been growing at the rate of 25 per cent. We, believe that the overall entry of Horlicks will expand the category further," GSK Consumer Healthcare (GSKCH) India Executive Vice-President (Marketing) Subhajit Sen told PTI.
The company said the new product will further extend its Rs 1,500-crore 'Horlicks' brand and help in sustaining the double-digit growth that it has been registering.
"In 2009, Horlicks brand is around Rs 1,500 crore. With 'Foodles' it will surely extend further. Though our aim right now is to establish and create awareness about the product (noodles), our target will be to have a market share of 6 to 10 per cent in the next 6-12 months," he said.
GSKCH said at present it is focusing on the South India, including Kerala, Andhra Pradesh, Tamil Nadu and Karnataka. It plans to introduce the product in the National Capital and other northern states in the next six months to one year period.
At present, industry estimates pegs the Indian noodles market at around Rs 1,000 crore with Nestle's Maggi accounting for about 80 per cent of the share.
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