Even as diversified group ITC has raised the price of its Gold Flake Sleek Line Kings cigarette by 9.1 per cent to Rs 120, the paper-to-hotel conglomerate has launched limited edition international cigarettes under its Gold Flake brand.
Being limited editions, the brands will be available for a period of 50 days. Among these, three have been launched after the name of countries famous for their tobacco, Turkey being one of them, according to analysts.
Gold Flake Greece has been launched in the 84 mm category and is priced at a 20 per cent premium to Kings. Gold Flake Greece is priced at ₹180 per pack of 20 sticks.
Two other editions are to follow, according to analysts at Edelweiss Securities, who added that these premium offerings would be available only in select areas such as airports and select malls.
ITC’s Gold Flake Sleek Line Kings cigarette is a premium cigarette, in line with India Kings. Earlier, the company had raised the price of its Bristol packet by 15 per cent to ₹45 from the earlier ₹38.
Incidentally, cigarette net sales grew 12.5 per cent year-on-year, though volumes declined 2 per cent year-on-year, up from the 4 per cent decline in Q2FY14.