Under the brand Murginns, the company will launch 15 products including cornflakes and porridge, in December this year. Beating competition, all products will be offered at 10 per cent lower prices than its rivals.
“The food business will be a high-growth area in India in the coming years and we shall offer better products at affordable price points,” said Sanjeev Khemka, director, KCL.
KCL plans a pan-India presence across 5,000 stores by December this year.
Estimated worth Rs 250 crore, the breakfast cereal market is dominated by Kellogg’s, with 48 per cent market share, followed by Mohun Meakins with 22 per cent and Pepsico’s Quaker Oats with 10 per cent.
Though KCL does not have the expertise in the FMCG retail business, the company is banking on its experience in the food processing business and its association with multinational companies such as Heinz to expand.
Murginns breakfast cornflakes will be launched in three variants: Choko Poko, Honey Pops and Honey Rings. KCL is also planning to incorporate local tastes such as Doodh-Jalebi in its breakfast offerings.