TTK to revive Fryums

Anubha Ghosh

Bangalore, Oct 14: The Rs 600-crore TTK Group is planning to bring back the lost glory of its ready-to-fry food product — Fryums. TTK Group of Companies chairman TT Jagannathan told The Financial Express that it has decided to relook at the business which was giving good returns earlier.

Mr Jaganathan said, “We are in a niche market of ready-to-fry food products, and even today, we continue to remain a prominent brand in the segment. We aim to revive the business and give it another try.”

The company plans to increase the number of products in its food business. It has currently only two products in the segment — Fryums and Oummies. Also on the anvil are plans to extend these products to cities other than where the products already have a presence, namely Bangalore and Chennai, as well invest in brand promotion.

TTK could also possibly collaborate, or hive-off the business as a separate company. However, the company is still drawing up the detailed strategy, but was unable to put a finger on the number of new products it plans to launch. The new initiatives will be implemented in early 2002.

Further, TTK plans to double the current turnover of Rs 8 crore in the food business over the next two years. The food products will be distributed by group arm TTK Healthcare.

The group had initially planned to sell this business comprising Fryums and Oummies, but could not get the “right price” for it. The business was started in 1985.

Mr Jagannathan said, “In paper and textile we were very minuscule and new that we could not compete with other players. But, in this particular food segment, there are mostly unbranded local players.”

Also, an internal research study conducted by the company revealed that Fryums has a good potential in the current scenario and also has a high brand recall. The production facility for Fryums and Oummies is located in Hoskote, near Bangalore.