MTR Foods now storms to transform its image for the future with a brand new identity and investments of Rs 200 crore for an advanced plant over the next 3-5 years.
Its brand new identity has a new contemporary logo and youthful packaging, personifying the transition to an innovative and relevant brand. The rebranding reflects the company’s commitment to its dynamic key consumers. The new logo and packaging will come into effect immediately, with the new packs hitting the market in May.
The rebranding has been the result of a growing realisation that consumer behaviour has changed dramatically in the last few years. In order to stay relevant and be the preferred choice of key consumers, the brand had to also change. Looking at the dynamic environment and consumer behaviour, the brand introduced 44 innovations in their product line in the last three years and has planned on making mega innovations a part of their ongoing strategies going forward, according to Sanjay Sharma, CEO, MTR Foods.
As a part of their growth efforts, the company has announced the opening up of their new e-commerce site that will give consumers a clear access to the entire range of the company’s 140+ products.
Emphasising on the need for rebranding, Sharma stated, “The current consumers have evolved both in terms of their food preferences as well their consumption patterns. They prefer Indian food but perceive it to be cumbersome and time-consuming. Our brand is the flagbearer of innovative, easy-to-make, nutritious and authentic tasting products that take away the time dimension from cooking and make Indian food more accessible to consumers.”
“However, as a brand, we needed to change. While the new brand identity better represents where the company is today, our detailed growth strategy will make MTR ready for the future. This is the new beginning for MTR Foods and we are confident that the new brand identity will make us a part of our consumers’ everyday lives,” he added.
Growth plans for the next four years covers a revamped communication initiative with increased emphasis on digital. The company is also looking to increase its distribution by three times in the next four years, invest around Rs 240 crore to scale-up manufacturing infrastructure, besides exploring alternate channels of distribution and allocating Rs two crore to sustainability and community building.
Atle Vidar, executive VP and CEO, Orkla Foods, who was here in Bengaluru, said, “That over the last three years, Orkla Foods has transformed into a leading Nordic branded consumer company that will play a more active role in partnering the growth of MTR Foods. The launch of the new brand identity reaffirms our symbiotic partnership and the path we are going to charter together.”
