ITC Bets Big On Food Business

Chennai: Fast moving consumer goods major ITC Ltd is betting big on its food business with the launch of brand Sunbean Gourmet Coffee, a top official said here on Wednesday.

ITC, which launched its Yipee brand of noodles in 2010, entered the ghee and dairy whitener business last year.

"We are launching Sunbean Gourmet Coffee today. We have launched it in Kolkata. It is very small business. We want to build the brand. That is more important," ITC vice president new category development G K Suresh said.

This coffee has blends of domestic and international bean varieties. It will be available in two categories - Nicamalai and Panagiri.

Talking to reporters after launching the brand, Mr Suresh said the food business rose by 10-12 per cent in 2015-16 and had registered revenues of Rs 7,100 crore.

The coffee brand will be available in ITC hotels in Bengaluru, Chennai, Delhi and Mumbai. A 200 gram ready-roasted coffee bean box is priced at Rs 800, he said.

Last month, the company launched chocolates under the brand Fabelle, Mr Suresh added.