Too Yumm!, a part of the RPSG group, which has been largely operating in the western and healthy snacking categories, is rolling out Indian snack variants under Too Yumm Namkeen to grab a share of the close to ₹14,000-15,000 crore organized Indian snacks. market. The brand is also looking to strengthen its product portfolio under the kids’ category, where it marked its foray recently.
According to Shashwat Goenka, Sector Head-Retail and FMCG, RPSG group, the Indian snacks market has been growing at a CAGR of around 14-15 per cent. The company is expecting to garner close to ₹100 crore sale under the segment over the next one year. The company may also look to expand its eatables portfolio beyond snacking by venturing into adjacencies in the next 12-18 months. “We launched in 2017-18 and the idea was to get into healthy snacking market. We are well entrenched in the western snacks market and are now moving into the Indian ethnic snacks category,” Goenka said in a virtual press conference on Thursday.
As on December 31, 2022, Too Yumm clocked ₹480 crore sales on annualized run rate basis. The FMCG business accounts for nearly 7 per cent of RPSG Ventures total turnover.
The snacking brand has been witnessing a double digit growth and would continue to fortify its presence in the western snacks and kids’ categories, he said. The western snacks market is estimated to be close to ₹26,000 crore and the share of unorganised players is close to 45 per cent in the segment.
Initially, the Indian snack products would be made available across one lakh touch points and then would be expanded subsequently to more outlets.
At a consolidated level, the company already owns an Indian snacks business under the brand name of Evita. However, that is primarily targeted at the tier III, IV and beyond markets while Too Yumm is targeted at the tier I and II markets, he said. “For the next 12-18 months we will strongly focus on western and Indian snacks as there is a lot of scope to grow; thereafter we will look at some adjacencies,” he said.
The company is also open to acquisitions and is exploring targets. However, any acquisition would be driven by long-term view and will be done only if it made a strategic fit, he said.