L T Overseas Forays Into Flavoured Rice Segment
By Jyoti koul /New Delhi

A Strategic Move To Increase Its Presence

In an effort to increase its presence in the market and at the same time expand its horizons, L T Overseas Ltd will be entering into the flavoured rice segment. The company is all set to launch its flavoured rice in the next financial year. The different flavoured varieties to be be launched include lemon, methi and biryani.

Informing the publication on this move by the company, Manju Jha, brand manager, Daawat Basmati Rice, L T Overseas Ltd, New Delhi, said, “We are planning to launch flavoured rice in packs in India during the next financial year. The new variants will be launched in two phases. In first phase, we will launch the new brand of rice in major metro cities of India. In our second phase, we will cover all class-1 towns in the country.

“Since our Daawat brand of rice is very well acceptable among the Indian consumer in all the segments, we hope that our launching of flavoured rice pack will give a new dimension to the consumer.”

It is the first company, as far as rice processing industry in India is concerned, to receive ISO 9002 certification. Basmati rice has contributed about 80 per cent to the company’s turnover of Rs 220 crore in 2000 - 2001. The brand Daawat is exported to more than 40 countries. It recently launched India’s first vitamin enriched basmati rice - Daawat Gold - which would be soon available in the markets across the country.

In view to increase the number of rice brands under its fold, the company is aiming to increase its current market share from 17 per cent to 25 per cent. “We have revamped our marketing strategy for the brand in an attempt to push it aggressively. We have charted out a budget of approximately Rs 1 crore for advertisement and promotions of the flavoured rice which will be launched in next financial year. We are hopeful that consumers will like the product,” she added. However, on the investment front, the company would like to remain tight-lipped for the time being.

Another recent development is the appointment of Jiggs Kalra, considered to be one of India’s top culinary experts as its brand ambassador. Commenting on the same, Ashwini Arora, joint managing director, L T Overseas, said, “We emphasise greatly on the quality of products offered by the company and this is one of the reasons behind the popularity of Daawat amongst the food connoisseurs in Indian and abroad. Jiggs Kalra shares the same ideology thus makes a perfect brand ambassador for our products.”