Wai Wai maker CG Foods today announced south and west of India as the focal markets for their instant noodle brand. The FMCG vertical of the Nepalese multinational conglomerate CG Corp Global said that the southern region of India makes for 20% of the country’s instant noodle market, while Karnataka comprises 5% of the nation’s market slice.
Tapping into this demand for instant noodles, Wai Wai is ramping up their business aggressively in Karnataka to increase its existing market share of 12%.
“Recording the highest sales from southern India last month is an impetus to continue our south India growth story. We understand the pulse of our consumer preferences in Karnataka and hope that the new products and flavours that we are going to introduce is loved,” said Parvez R Vandrewala, zonal sales head – south & west for CG Food in a press statement.
CG Foods has factories in Sikkim, Guwahati and Silchar. The company has also set up units in Rudrapur (Uttarakhand), Chittoor (Andhra Pradesh) and Purnea (Bihar). It recently expanded its Silchar production line and set up a new factory in Rajasthan.
The brand also announced that it has set the target to achieve the goal of clocking Rs 100 crore revenue from the southern markets by 2022. This includes increasing samplings and distribution networks, exploring expansion of products in sync with localised regional preferences and ramping up sales force.
CG Foods India (CGFI) is a subsidiary of Singapore-based CG Corp Global. Currently, the brand owns 7 plants and 10 manufacturing lines in India.
Source: ETRetail
