Synopsis
The latest move will pitch Reliance directly with Britannia, Parle and ITC that together control over 80% of India’s biscuit segment. RCPL, the fast moving consumer goods arm of Reliance Industries, said the alliance is part of its aim to bring a bouquet of domestic and globally recognised consumer brands.
Reliance Consumer Products Ltd (RCPL) said it has entered into a strategic partnership with Sri Lanka headquartered Maliban Biscuit Manufactories to launch their brand in India.
The latest move will pitch Reliance directly with Britannia, Parle and ITC that together control over 80% of India’s biscuit segment. RCPL, the fast moving consumer goods arm of Reliance Industries, said the alliance is part of its aim to bring a bouquet of domestic and globally recognised consumer brands.
“With a leading market position, Maliban has deep-rooted heritage and credibility. With this strategic partnership between RCPL and Maliban, we will not only be strengthening our FMCG portfolio through a great brand but will also be able to offer an excellent value proposition through quality products to our Indian consumers,” Isha Ambani, Executive Director, Reliance Retail Ventures Limited, said.
Last month, it launched a made-for-India consumer packaged goods brand, Independence, in Gujarat. The company is also creating a distinct and dedicated retail distribution network for its fast-expanding FMCG portfolio.
Maliban, founded in 1954, is the second biggest biscuit firm in Sri Lanka and sells products including biscuits, crackers, cookies and wafers. The company also operates in global markets and exports to over 35 countries.
“The complementary strengths of our two organisations will enable us to bring the unique and highly sought-after tastes of Maliban to India’s discerning consumers. We look forward to collaborating with Reliance Consumer Products towards this shared objective to provide Indian consumers with world-class products,” said Kumudika Fernando, Group Managing Director, Maliban.
In India, packaged biscuits is worth Rs 38000 crore and is among the largest segments within FMCG. Britannia is the market leader, followed by Parle and ITC and the category is largely driven by low unit packs such as Rs5 and Rs10.
source: economic times
