Britannia bites into Rs 400 mln cookie market

New Delhi, Sep 14 (UNI) The Rs 400 million-Indian premium cookie market is set for competition with the Wadia-owned Britannia entering the segment with its new productline-- Pure Magic.

Priced at a premium cost of Rs 200, the range consists of cookies with chocolates, nuts and lots of flavours like rum and cognac. The packs would be available in Delhi and Bangaluru only.

''The products will be available in major retail stores like Apple in Delhi and Spencers in Bangaluru,'' said company General Manager (Marketing and Innovation) Richa Arora.

Britannia already has its biscuits in the low-cost segment.

The company is also planning to expand the Pure Magic range in the coming months.

The products are targeted at youngsters between the age group 23-30 years, a segment the company feels that likes to indulge.

''The cookies only have liqour flavours instead of actual liqour, so that it finds more appeal,'' Ms Arora added.

The products will be available at around 700 outlets only as it is not a mass product.

The company refused to reveal the investment in research and development saying ''a significant amount is marked for the segment''.

When asked if the company was targeting Diwali and the festive season, Ms Arora said the timing was ''purely coincidental'' but Pure Magic would do good business as it was a premium gifting item as well.

Nearly 40 per cent of sales is during Diwali and Christmas seasons and corporate gifting is one of the biggest market segment.

The cookies have a variety of nuts and Belgian chocolates along with Irish cream. The cookies have a shelf life of two months.

The premium biscuit segment is witnessing entry of several players like Unibic Biscuits and expansion by existing biscuit manufacturers.

Over the next two years, the company plans to take the product to more metros but the venues will be contemplated later as the market arises.

UNI