Part 1: Chat with Britannia
Part 2: Chat with Britannia
Part 3: Chat with Britannia
Fairly Insightful Conversation This; in Feb 2017; with Varun Berry (Ex-Pepsi) Current MD of Britannia.
Few Things that Really Stood Out & Caught My Eye:
1) Unwavering Focus on Cost Reduction: Will continue to Focus on Reducing Costs: Varun's experience at Pepsi may come in handy here, given the strong operational inefficiencies these Cola Companies work at.
2) Built for Competition: Again, Varun's Experienec at Pepsi vs Coke wars "bloody" according to him, has made him battle ready. Biscuits Space is heating up with ITC, Parle, Patanjali & even Kraft and Priyagold looking at their share of the pie ..eerrr. Cookie.
3) Total Foods Co: Very interesting development this, where the idea of the future Britannia is that of a Total Foods Co. They will get into all snacking categories where they believe they have a Right to Win. Varun Spoke about getting into different variants of Rusk, Breads & even Croissants. Interestingly, a few days after this chat, Britannia did go ahead and entered into a JV with Greece's Chipita, A Croissant maker (http://www.chipita.com/el-en/ Stuff they make looks delicious; I hope these are available in India too.) I gather, they'll roll out the first product in Jan 2018.
4) Stability at the Top: Varun categorically stated, not looking at leaving Britannia, will stay here and also, his relation with the promoters is absolutely perfect. More importantly, Wadias are not looking to offload any stake in Co.
5) Ear to the ground, learning at home: This was my favorite part where Varun candidly admitted that it was his son's choice of Parle's Hide & Seek over Britannia's Good Day, that got them to change the product & re-work on Britannia's Chocolate offering. Vindication at the end, when Britannia Good Day Choco Chip Outdid Hide & Seek.
Hope You enjoy the chat.
Keep The feedback Coming.
Much Love.
M
PS: Don't treat that as investment ideas; I personally Don't Invest/Trade.
Part 2: Chat with Britannia
Part 3: Chat with Britannia
Fairly Insightful Conversation This; in Feb 2017; with Varun Berry (Ex-Pepsi) Current MD of Britannia.
Few Things that Really Stood Out & Caught My Eye:
1) Unwavering Focus on Cost Reduction: Will continue to Focus on Reducing Costs: Varun's experience at Pepsi may come in handy here, given the strong operational inefficiencies these Cola Companies work at.
2) Built for Competition: Again, Varun's Experienec at Pepsi vs Coke wars "bloody" according to him, has made him battle ready. Biscuits Space is heating up with ITC, Parle, Patanjali & even Kraft and Priyagold looking at their share of the pie ..eerrr. Cookie.
3) Total Foods Co: Very interesting development this, where the idea of the future Britannia is that of a Total Foods Co. They will get into all snacking categories where they believe they have a Right to Win. Varun Spoke about getting into different variants of Rusk, Breads & even Croissants. Interestingly, a few days after this chat, Britannia did go ahead and entered into a JV with Greece's Chipita, A Croissant maker (http://www.chipita.com/el-en/ Stuff they make looks delicious; I hope these are available in India too.) I gather, they'll roll out the first product in Jan 2018.
4) Stability at the Top: Varun categorically stated, not looking at leaving Britannia, will stay here and also, his relation with the promoters is absolutely perfect. More importantly, Wadias are not looking to offload any stake in Co.
5) Ear to the ground, learning at home: This was my favorite part where Varun candidly admitted that it was his son's choice of Parle's Hide & Seek over Britannia's Good Day, that got them to change the product & re-work on Britannia's Chocolate offering. Vindication at the end, when Britannia Good Day Choco Chip Outdid Hide & Seek.
Hope You enjoy the chat.
Keep The feedback Coming.
Much Love.
M
PS: Don't treat that as investment ideas; I personally Don't Invest/Trade.
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