According to a release issued by Eveready, it has entered the confectionery market through its brand “Jollies”.
Jollies will be launched in the Rs. 400 crore fruit chew segment during the first phase. It will be priced at Re 1. The company is working on an asset-light model involving outsourcing, and believes it can add significant turnover and profitability with an entry into the segment.
Besides hiving off its packet tea business to a joint special purpose vehicle with McLeod Russel, the dry cell batteries major EIIL has forayed into lighting and small appliances too.
The company said that the confectionery would provide an opportunity to not only complement the current basket of products but also give an opportunity to offer value-added products to EIIL’s up-country distribution; it also claimed that distribution is one of its key strengths.