Introduction
Popular for their biscuits and dairy products, Britannia Industries is amongst India’s top food companies. Over the years, they have evolved with their customers to stay relevant in the industry. Britannia’s share price has constantly attracted investors’ attention. Looking forward, the company has plans to continue to do the same. Let’s take a look at what are some of the plans that the organization is baking currently.
Expansion and Diversification
Geographic Expansion
Geographically, the organization plans to expand both internally and internationally. Within India, britannia share price is eyeing the untapped rural market, aiming to expand its distribution to reach the unexplored spaces of the Indian rural market. Meanwhile, they are also working on adapting their products to this audience.
Internationally, the company is planning to expand its key global market spaces. Based on the demand, and current footprint, Britannia is focusing on regions like the Middle East, Africa, and Southeast Asia.
Product Diversification
So far, biscuits have been the primary product for Brittania. However, the company is aiming to change that soon. They are increasingly focusing on dairy products, snacks and other healthy food products. Considering how people are becoming more aware of their diet, healthy alternatives in the snacking category would be a priority for the organisation.
Britannia is also investing in dairy strongly. The company plans to scale up the dairy division focusing on cheese, milk-based beverages and yogurt. Since it already has a vast customer base, and a competent distribution network, Britannia could crack the dairy industry game.
Investment for dairy
To facilitate the entry into the dairy market, Britannia has acquired 51 percent stake in a joint venture with Bel SA, a French Cheesmaker, while the other organization has taken up the remaining 49 percent. Britannia has an existing joint venture with the Fonterra Brand, and in that JV, Britannia has acquired full stake and now has full complete control of it.
Innovation and R&D
Product Innovation
Brittania’s growth strategy is highly reliant on innovation which involves developing new flavors of products and coming up with creative packaging designs to increase the appeal of the products.
Balancing taste and health is also a key area where innovations are in progress in the company. To give an example, Britannia is working on gluten-free biscuits and snacks enriched with vitamins and minerals. The health-conscious eaters would get their fair share of snacks from the brand in the near future.
Technology and Process Innovation
Innovation would also happen in the production side for Brittania. By controlling costs through opting for automation and integrating AI into the manufacturing process, productivity and quality can be enhanced. Further, the packing department is working hard to reduce environmental impact by adopting eco-friendly packaging strategies.
Sustainability Initiatives
Environmental Sustainability
As an organization, Britannia believes in the significance of sustainability and is invested in the concept. It has fixed goals regarding waste disposal, water and energy usage, and greenhouse gas emissions. Recycling and reusing will be encouraged to reach the ambitious goal of achieving zero waste to landfill.
A bunch of water conservation techniques are being implemented to address the water scarcity problem, to ensure the company doesn’t add to the burden. On the energy front, Britannia is trading vs investing which is better in renewable sources of energy, marking its shift from non-renewable sources.
Social Responsibility
Sustainability doesn’t end with environmental initiatives alone for Brittania. The company also has taken a keen interest in contributing towards socially responsible causes. It has devised community programs to improve education, healthcare, and child nutrition.
Conclusion
Britannia has grand plans for the expansion of its brand, through both geographical reach and by expanding its product portfolio. With sizable investments into R&D and innovation the company aims to show its presence strongly in the industry.
