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Jubilant FoodWorks has stepped into the Rs 500-crore ready-to-cook condiments space, setting up direct competition with packaged foods makers including Nestle, Hindustan Unilever and Dr Oetker.
JFL’s first sales channel for the ready-to-cook sauces and pastes franchise, called ChefBoss, will be on e-commerce platforms.
JFL senior VP (new business) Vikran Sabherwal said in a statement: “Demand for ready-to-cook food products has been increasing over the last few years on account of busier lifestyles of consumers and their desire to explore different cuisines at home. During Covid we have seen an acceleration of this trend and therefore an exponential growth in demand for ready to cook products.
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JFL, the master franchisee of Domino’s Pizza and Dunkin’ Donuts, operates 1,335 Domino’s Pizza restaurants in India.
Analysts said the move is positive for JFL and presents the opportunity to tap the rapidly growing cooking-at-home trend besides synergising with Domino’s Pizza, but added the challenge will be reaching supermarkets since JFL’s width of products is limited compared to Nestle and HUL.
“There is synergy in sourcing, given huge buying of spices, condiments and sauces. JFL can cross-market these products and work closely with food tech aggregators like Amazon,” Edelweiss Securities executive VP Abneesh Roy said.
From Economic Times
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