Nestle may foray into health, wellness

The challenge is to innovate, says Suresh Narayanan, CMD

Nestle India plans to foray into health and wellness segment, Suresh Narayanan, Chairman and Managing Director, said during an interaction with the Hindu Group’s journalists here.

With more than 30 products being unveiled in the last three months, Mr. Narayanan said: “We are an engine that has found its speed and we have more launches in pipeline. As a company we have enjoyed good profitability that we can invest back into the firm for our growth. But the challenge is to innovate, make products more compelling and be relevant with product introductions.”

The company may foray into areas which it has not ventured into in the Indian market. “We like to play more on the health and wellness segment. There are other businesses we have not participated in and we would like to participate,” Mr. Narayanan said.

The 150-year-old Nestle is the largest firm in the FMCG space with sales of $92 billion and more than 2,000 products. In India, the firm has been around for 104 years.

Maggie crisis

Talking about the Maggie crisis which had negative impact on the Nestle’s financials, Mr. Narayanan said: “It was a brand that was declared dead in June 2015 but we are coming back and have already captured 57 per cent market share.”

He said it was the largest crisis ever faced by any consumer good company in this country and “for us it was a worst of its kind with global ramifications in this digital age. For me this crisis was an opportunity to recalibrate what we do.”

[Source:-The Hindu]