To invest heavily in FMCG expansion and cafes
Kahini Chakraborty – Mumbai
Mumbai-based Nilgai Foods has seen increased market interest in gourmet foods and is going to launch new products under its brand name Pico in the next six-eight months. The company, which manufactures and sells jams, preserves, sauces, dips and confectioneries, recently raised equity investment from HNI investors to finance its expansion plans. When asked about the investments, Arjun Gadkari, president, Nilgai Foods told Food & Hospitality World, “We cannot disclose the amount, however the investment will go towards FMCG expansion and new cafes. Pico brand is young and its visibility and awareness is growing rapidly. Pico has a strong product development team headed by Chef Nicole Gonsalves. As a brand we are all about innovation. We have India’s hottest chilli sauce – The Bhut Jolokia; and we are currently building popularity for the same. The combination of retail and QSR has boosted our brand awareness in Mumbai. In Delhi and Mumbai over the next few months there will be increased ATL activities that will increase awareness for brand Pico.”
Besides this, the company is also looking at introducing Pico express in Delhi and Bengaluru. With their retail product being well established in Delhi, the company will be kick starting distribution in Bengaluru by end of this year. Presently, the company is focusing on retail trade. Opining on the current market trends and growth, Gadkari added, “We are expecting growth of 30 per cent (CAGR) over the next five years as gourmet is one of the fastest growing segments in F&B.”
