Parle unveils separate division, Parle Platina, for premium products
Bengaluru: Biscuit maker Parle Products Pvt. Ltd has formed a new division called Parle Platina that will handle its premium products.
While the company’s strength remains the popular or mass segment, with brands like its flagship Parle G, its Platina unit will adopt a new identity and imagery for the premium segment.
The aim of this new division is to establish a strong foothold in the premium segment by consolidating indulgent and aspirational products from Parle’s current portfolio including Hide & Seek biscuits, Milano cookies, Mexitos nacho chips and its Simply Good range of nutritious products, the company said in a statement on Friday.
“Parle Platina stemmed from extensive research which showed that Parle needed a rejuvenated approach to reach consumers in the premium segment. While the products in this range exude our core values of trust and great quality, they also offer indulgence, premium taste and a feeling of aspiration,” Mayank Shah, category head at Parle, said in the statement.
The launch of its new division will begin with a television commercial that will be aired during the ongoing Indian Premier League (IPL) cricket tournament featuring Hide & Seek. While Parle’s last campaign, with the tag line Naam toh suna hoga (You would have heard of the name), highlighted brands under its so-called popular division, the new campaign will focus on its premium range.
In February, the company said in an interview that it planned to increase contribution from its snacks portfolio even as it threw its might behind consolidating market share in the premium biscuits segment. Biscuits account for about 85% of total revenue.
Within biscuits, Parle has a strong presence in the mass and popular price segments, i.e. biscuits that cost less than Rs100 per kg and between Rs100 and Rs200 respectively, Shah had said in February. The company’s focus is to increase market share in the premium segment, or biscuits priced above Rs200 per kg.