Heritage Foods launches ice-cream brand Alpenvie
Heritage Foods Ltd (HFL), a major dairy company founded by AP Chief Minister N Chandrababu Naidu, on Wednesday launched its new premium ice-cream brand ‘Alpenvie’ as part of its strategy to strengthen existing product range and improve other products.
Hyderabad: Heritage Foods Ltd (HFL), a major dairy company founded by AP Chief Minister N Chandrababu Naidu, on Wednesday launched its new premium ice-cream brand ‘Alpenvie’ as part of its strategy to strengthen existing product range and improve other products.
The target group for the newly launched products is young consumers comprising college students, said Brahmani Nara, Executive Director, Heritage Foods Ltd. The premium ice-cream products are priced in the range of Rs10-45 with majority of products under Rs25. The newly launched products are available in metro cities. Subsequently, the company will expand it to across the country.
Speaking to the media after launching new range of Alpenvie products here on Wednesday, Brahmani said: “We’ll invest 80crore in these products over next four years. We continue to grow organically and inorganically. Recently, we tied up with a French company and will launch new products this year. We’re growing at 30 per cent in terms of revenues and will reach Rs6,000-cr mark by 2022. We continue to invest Rs100cr annually and expect to grow to about 50,000 liters per day in next four years. Our value-added products will contribute 40 per cent to our total revenues.”
Heritage Foods aims to tap north Indian market. By expanding product range in ice-cream segment, the company anticipates Rs230cr revenues by 2020 with 24 per cent growth rate in this space. “We have good presence in lassi, butter, ghee, etc, and continue to grow with value -added products and improving other products. The value-added products are contributing 24 per cent to our total revenues. Though we lost some volumes recently, that’s mostly part of the rationalisation taking place in our operations. Recently, we acquired a plant with capacity of one lakh liters per day in Ludhiana and we invested over Rs20crore into that. We’ll double the volumes in north India very soon,” adds Brahmani.
The current capacity of Heritage Foods is at 15 lakh liters per day and will be enhanced to 28 lakh liters a day by 2020. It has 16 production facilities. “Icre-cream market is growing 20 per cent per annum and we expect Rs230cr revenues from this segment by 2020. In overall, we expect 25 per cent CAGR,” says Brahmani.