ITC bites into snacks pie with ‘Bingo’ in India

ITC Foods has forayed into the snacks segment with the launch of a new brand, Bingo. The company plans to invest Rs 150 crore in the snacks business in the next two years. ITC Foods is targeting a market share of about 25% in the next 4-5 years. The organised snacks market in the country is estimated to be worth Rs 2,000 crore and growing at 30%. The company is also redefining its brands Kitchens of India and Aashirvaad. The ready-to-eat (RTE) meals would now fall under Kitchens of India and Aashirvaad would become the cooking ingredients brand. Until now, RTEs were sold under both these brands.

Courtesy: EconomicTimes
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