New Delhi: Biscuit and candy maker Parle Products Pvt. Ltd plans to expand manufacturing outside India to be closer to its export markets and increase overseas revenue.
Preferred choice: Cookies and snacks on display at a store in Karnal, Haryana. Parle has a 40% share of the biscuit market in India. Ramesh Pathania / Mint
The maker of Parle-G, Monaco and Hide and Seek biscuits and Mango Bite toffees aims to expand the share of overseas sales to around 10% of revenue in the next three-four years, from 4% now. The company earned Rs3,000 crore in revenue for FY09.
“We have just started manufacturing in Nepal and Bangladesh. There is also very good response to our products in African countries as consumer tastes are similar,” said Praveen Kulkarni, general manager (marketing) at Parle. “We would also look at setting up our own manufacturing in some African countries.”
The 80-year-old Parle, which has a 40% share of the biscuit market in India, according to its website, sells its products in markets, including West Asia, Africa and South-East Asia as well as the US, the UK, Canada, Australia and New Zealand.
The company set up a unit in Cameroon about two years ago to meet growing demand there, said Kulkarni.
Analysts say the overseas push won’t be easy. In India, Parle “gives close competition to companies such as Britannia and ITC. But it has to be seen how long it takes to establish itself strongly in competition with major players in the international market,” said Vanmala Nagwekar, research analyst at India Infoline Ltd.
Back home, Parle is expanding its product portfolio and relaunching existing brands.
Recently, the company launched a new category of bourbon biscuits under the Hide and Seek brand and re-launched its Krackjack biscuits.
It has also introduced a new range of snacks.