Ahmedabad-based ice cream and frozen processed foods producer, Vadilal Industries Ltd made its foray in the flavoured milk business. On Friday, the company announced the launch of its flavoured milk under the name Power Sip, which falls under the Vadilal Quick Treat umbrella brand in Ahmedabad.
According to a statement issued by the company, the potential for growth in the Indian flavoured milk is very good with an estimated annual growth rate of 15-20%. Vadilal will utilise its strong ice cream retail distribution network to make this new product a popular brand across country over the next few years, it added.
Vadilal’s Power Sip will come in a 180 ml bottle priced at `18, in three flavours – rose, elaichi and kesar. More flavours such as chocolate, badam and coffee will follow in a few months. The company also claimed that no preservatives are used in its flavoured milk, which will have a shelf life of six months.
Power Sip is being launched in Ahmedabad first and over the next six months will be sold across Gujarat, said MD of Vadilal Industries Ltd, Devanshu Gandhi.
“Thereafter, we will introduce it in Maharashtra, Madhya Pradesh and Rajasthan. Launches in the rest of India will follow in the second and third years. Our target is to capture up to 7% market share over the next three years and make Power Sip a `30-crore-plus brand. This is our first major launch in the non-ice cream dairy sector and we plan to introduce more products in this space in the future,” he said.
The company will aim to make Power Sip available at tourist places, railway stations, bus stands, airports, schools & college canteens and others.
According to Rajesh Gandhi, MD of Vadilal Industries, “The flavoured milk segment fits well with our wide network and a strong projected growth rate of 20% per annum. With an extensive distribution network of over 50,000 retailers, 250 stock-keeping units and 550 distributors across India, we are well-placed to make it a successful national brand.”