FieldFresh Foods Pvt Ltd., a joint venture between Bharti Enterprises and Del Monte Pacific Limited, on Wednesday announced its new corporate identity – ‘Del Monte Foods Private Limited’. According to the company, the change in identity is in line with the next phase of the company’s brand journey that will have a sharper focus on the branded processed foods and retail business.
“This is not just a change of name, it reflects a change in our approach, outlook and philosophy. Del Monte has worked hard to establish itself in the market and our focus will be on creating unique brand experiences at all relevant touchpoints while staying true to our brand promise of providing high quality products,” Mahesh Kanchan, CEO, Del Monte Foods Private Limited, said on the new identity.
As per the KPMG report titled ‘Indian food processing industry: Growth opportunities post the Covid-19 pandemic’, India’s food processing market is set to grow from $263 billion to $470 billion. Customers’ aspiration for premium food products is also set to increase as tier 2 and tier 3 cities could mirror the trend visible in metropolitan areas of buying more processed food in the coming years. To serve this segment, the brand name that resonates with Del Monte’s consumers as well as partners has been brought to the forefront, the company said.
Del Monte is a brand in the premium foods segment in India, having a distribution footprint across key urban markets. The company claims that its retail business has grown by 20% in FY21 and the brand intends to maintain this growth momentum by introducing bigger, bolder product ideas and tripling its distribution coverage in the next 3-4 years, with a focus on the top eight metros. This will be supported with increased investments in brand communication in relevant markets and a strong push on digitisation across the value chain, the company stated.