The sale to diversified conglomerate ITC includes the company, the firm’s brands, distribution network, and its corporate office in Salt Lake. The family hopes to complete the deal by June end.
Companies also fear that a portion of the workforce may not return to the cities even after the lockdown is lifted as they will look to newly created employment opportunities in their home states.
The share purchase agreement was finalized on Saturday. In a media release, ITC said Sunrise is a market leader in eastern India.
FMCG companies like Nestle, Dabur, Godrej Consumer Products Ltd (GCPL), Parle Products and Wipro Consumer Care expect consumption of low priced affordable packs or popular price products (PPP) to go up in non-metro markets after supply chains and accessibility of product improve
Restrictions on number of workers in factories located in green and amber zones, specially for food products companies, need to be relaxed as meeting demand will become difficult and can lead to scarcity, according to a senior official of biscuits major Parle Products.
The initiative focuses on enhancing awareness related to COVID-19, amongst the tea-plantation workers and local communities and help them take necessary precautions to stay safe during the pandemic. Training modules and short videos created by HUL to train frontline healthcare workers in tea estates on response and containment measures related to COVID-19 will be developed.
While FMCG companies have increasingly relied on the hinterland, home to more than 800 million people, the market contributes just 36% of the overall industry sales despite having over two-thirds of India’s consumer base. That could change now, say companies.
While FMCG companies have increasingly relied on the rural hinterland, home to more than 800 million people, the market contributes just 36% of the overall industry sales despite having over two-thirds of India's consumer base. That could change now, say companies.
The maker of Maggi noodles and KitKat chocolate, which reported 10.7% increase in domestic sales for the quarter at Rs 3,124.2, however cautioned on consumption in the following quarters. “Consumers would hold back on indulgences and consumption may be constrained in the next two quarters. Buying patterns would change,” Narayanan said.
Earlier, on May 12, Prime Minister Narendra Modi pitched for the use of products manufactured in the country, saying the coronavirus pandemic has taught the importance of local manufacturing, local market and local supply chain.
FMCG company Bajaj Consumer Care on Tuesday said it has entered the personal hygiene segment with the launch of Bajaj Nomarks Hand Sanitizer.
Tata said it is terminating the eight-year old JV and make the firm a wholly-owned subsidiary as well as transfer rights over the ready to drink brand Gluco Plus from PepsiCo. NourishCo also has Himalayan mineral water and Tata Water Plus in its portfolio.
Post the pandemic, ITC will launch a new hand sanitiser, disinfectant spray and a sachet at half a rupee under the Savlon brand.
Labour availability is still a major issue for many firms even in the green and orange zones.
Godrej Consumer Products Ltd has planned several launches at affordable price points, most of which would be in personal and home care category, in the next 45 days. It expects hygiene products to account for around 5 per cent of its total business in this quarter alone as compared to very insignificant contribution in pre-COVID-19 period.
Global brands dominate Indian market in most categories and there are few local alternatives.
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