New Delhi: DS Group, one of India's largest fast-moving consumer goods (FMCG) companies, is doubling down on its spices business, aiming for 30 percent Compound Annual Growth Rate (CAGR) to reach Rs 5,000 crore revenue over the next 5-6 years.
Rajiv Kumar, Vice Chairman of the company, highlighted the success of Catch Spices as it has surpassed the Rs 1000 crore mark with a 24 percent CAGR over two years, attributing its growth to "quality maintenance and household loyalty."
With over two crore households already using Catch Salt and Spices, DS Group is keen on maintaining quality while expanding its market share, eyeing tier-2 and tier-3 markets, rural areas, and the Southern region, the company said. To bolster its presence, the company is enhancing distribution networks and increasing marketing efforts, with a significant chunk of sales now coming from modern trade and e-commerce channels.
DS Group remains open to strategic acquisitions but insists on favorable valuations. Recently, it launched Kitchen Art, a range of ready-to-cook gourmet gravies, emphasizing quality and innovation. With a new marketing strategy backed by actor Akshay Kumar's endorsement and significant investment, DS Group is poised for aggressive growth in the spices business.
Currently, Catch products are available in more than 7 lakh retail touchpoints through more than 1,500 distributors nationwide.
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