What was the reason behind partnering with Indian Culinary Forum (ICF)?
One of the leading rice companies in India, Best Foods has collaborated with ICF, India’s leading association of professional Chefs, with an aim to bring the best culinary experience to its consumers.
What is the ratio between domestic sales and export and where all do you export?
We export about 70 per cent of our products in various countries across the globe. Our products have been widely appreciated in major countries like, Asia-Pacific, CIS, Middle East, Africa, Europe and North America.
What was the turnover this year and at what pace are you growing?
Today, we are clocking at Rs 2,600 crore. With an increase in demand for basmati rice with affecting factors like increasing domestic prices and export demands, we are geared to target Rs 5,000 crore by 2017. Our presence in the export market has seen phenomenal growth. We are striving for an increased market share in the domestic market as well. To this end, we have expanded our product portfolio and have added brown rice and ready-to-eat products. Our stand-alone exclusive brand stores are doing well and consumers are delighted to shop from these outlets. From an existing 35 stores, we are planning to open 800 stores in coming 2-3 years. We are investing substantially in our plants to meet our target growth.
What is the mode of distribution of your products? How do you manage the supply chain process?
In India, Best Foods is amongst the most penetrated brands available in more than 2000 modern retail format (MRF) outlets spread across India in 200+ cities. In addition to this, the company has 38 exclusive brand outlets across high footfall areas in Delhi/NCR.
You have about 17 manufacturing plants and you produce approximately 45,000 tons rice per month. What is your expansion plan?
We are striving for an increased market share in the domestic and international market. To this end, we have expanded our product portfolio and have added brown rice and ready-to-eat products. Our stand-alone exclusive brand stores are doing well and consumers are delighted to shop from these outlets. From an existing 35 stores, we intend increasing the same to 800 stores in the coming 2-3 years. We are investing substantially in our plants to meet our target growth
Are you projecting brown rice as a substitute for white rice?
No, we want people to relish both - white and brown rice as both the variants have unique taste, flavour, nutritive value and importance.
Apart from positioning your product in overseas markets, what are you doing to spread awareness about the consumption of brown rice?
We have a consumer centric 360 degree marketing approach and a presence across various consumer touch points. Best Foods is establishing a strong connect with its consumer base through innovative initiatives like KhayaIi Pulao School Connect Programme, Chef engagement in restaurants like Sattviko, New Delhi (A Ricelicious Affair with Chef Rishi Verma) , Bawarchi Meet in Kolkata, a culinary afternoon with Chef Puneet Mehta in Hyderabad (Biryani ka swaad, Nawabi Andaz, Best Foods ke saath), Battle for the ‘Best’ Chef at Banarsidas Chandiwala Hospitality Ensemble, the latest being the strategic tie-up with The Indian Culinary Forum, ICF, to mention a few.