Nestle eyes double digit growth for Maggi

It is also sharpening focus on digital media and pushing other products so that all categories contribute almost equally to the company’s overall revenue. “Results for the last two quarters of 2015 have been impacted by the Maggi Noodles issue. 

However, we are committed towards double digit (growth) that is triggered by actual volume consumption increase,” Suresh Narayanan, chairman and managing director, Nestle India said. The Swiss major had taken a hit of Rs 450 crore including destroying over 30,000 tonnes of the instant noodles since June when it was banned because of alleged excessive lead content. Maggi, which was relaunched in November after a 5-month ban, is currently available in over 700 towns and sold by 3 lakh small and large shopkeepers, the company said. 

“We are investing significantly in the re-launch, and we will be ensuring that the consumer is aware that Maggi Noodles are safe to consume,” Narayanan said. The company is now simultaneously pushing growth in other categories such as milk products and chocolates, along with the relaunch of Maggi. Nestle is engaging actively in social media, and is building a digital presence to strengthen the brand. Nestle India sold 3.3 crore units of Maggi in the first 10 days of its relaunch.