Foodcoast International, a food supplier to the Indian HoReCa sector, is readying to enter the domestic retail market by June this year.
“Our plan of entering the retail market is in mid-2015, through both traditional and modern trade formats,” Sushant Sharma, director-marketing, Foodcoast International told indiaretailing.
Incepted in 2009, Foodcoast International is part of the HR group, was incorporated as a trading company and set up its manufacturing base in 2010. The company is focused on planning and executing the conception, pricing, promotion, and distribution of food products to the HoReCa sector. The company manufactures multiple products, including mayonnaise, ketchup, spreads, salad dressings, Indian gravies, toppings and crushes for both Indian and world cuisine, in bulk packaging for institutionalised sales.
“Since our inception, our main focus remained northern India for a long time. Gradually, central, western and eastern parts were covered. But now, we are aggressively capturing the southern market too. The plan is to cover all key Indian territories by the end of this fiscal,” he added.
The company, which registered a turnover of Rs 8 crore in 2011-12 and approximately Rs 16 crore in 2012-13, is targetting revenues of Rs 30 crore in the current fiscal.