Jubilant FoodWorks enters the FMCG market with ChefBoss2 min read . Updated: 06 Aug 2020, 07:22 PM IST
The brand will expand product availability by adding more e-commerce platforms as well as retailing through supermarkets and hypermarkets
NEW DELHI : Jubilant FoodWorks Limited, the master franchisee of Domino's Pizza and Dunkin' Donuts branded restaurants in India, on Thursday announced its entry into the ready-to-cook sauces, gravies, and pastes market capitalizing on the growing home-cooking trend in India.
A range of Chinese and Indian sauces and mixes will be sold under the ChefBoss brand starting with Amazon nationally, Flipkart Supermart in the NCR, Mumbai and Bangalore areas, and Milkbasket (NCR), the company said in a filing to the exchanges on Thursday.
The brand will expand product availability by adding more e-commerce platforms as well as retailing through supermarkets and hypermarkets.
While Indians prepare a large portion of their meals at home, over the years, consumers have sought to include a range of western and asian dishes as part of their meals consumed at home.
More experimentation, as well as search for convenience, has prompted several brands such as Nestle (that sells a range of readymade spice mixes for preparing dishes), Ching’s Secret, Fun Foods, as well as several niche brands to establish their presence in the market.
Jubilant FoodWorks estimates the packaged ready-to-cook market for such products at ₹500 crore.
More recently, covid—induced lockdowns have prompted households to look for variety and convenient cooking formats as they rustle up more dishes at home.
The 'ChefBoss' range of sauces and pastes includes eight different products across two cuisines—Indian and Chinese.
"We are delighted to enter the Indian FMCG segment with 'ChefBoss'. This brand is based on our sound understanding of the Indian consumers' taste preferences and our commitment to provide the best quality products," Shyam S. Bhartia, Chairman, and Mr. Hari S. Bhartia, Co-Chairman, Jubilant FoodWorks Limited, said in the statement. Our research suggests that consumer now, more than ever before, are looking to explore and add new dishes to their cooking, they said.
The range includes Hyderabadi Biryani paste, Lucknowi Biryani paste, Makhani gravy and Bhuna gravy, apart from Chinese mixes such as Manchurian and Schezwan cooking sauces, a hot garlic cooking sauce and a Honey Chilli stir fry sauce as well as dip.
The products are priced between ₹75 to ₹100 per pack.
"The demand for ready-to-cook food products has been increasing over the last few years on account of busier lifestyles of consumers and their desire to explore different cuisines at home. During Covid we have seen an acceleration of this trend and therefore an exponential growth in demand for ready to cook products," said Vikran Sabherwal, Senior Vice President, new business, Jubilant FoodWorks Limited.
The promoters of HT Media Ltd, which publishes Mint, and Jubilant FoodWorks are closely related. There are, however, no promoter cross-holdings.