Biscuits and confectionery company Parle Products expects Parle Platina, a division that it recently set up for its premium products, to contribute nearly 25 per cent to its overall revenues by the year-end.

The Parle Platina range of products includes brands such as Hide & Seek, Milano, Simply Good and Mexitos. Mayank Shah, Category Head, Parle Products, said: “Currently, Parle Platina contributes about 15 per cent to our revenues. We believe, by the end of this calendar year, it will contribute about 25 per cent to our revenues. We have launched several new products in the past two-three years, so our focus this year will be on consolidating our presence in this space.” The company is also stepping up investments on growing the distribution of its premium products.

“We will be making investments this year on distribution and brand building initiatives for the Parle Platina range of products. While the Parle Platina products are available across the country, we are focusing on strengthening our presence in the top 30-40 metros,” he added.

Shah said that the company is ramping up the direct distribution of the Parle Platina product range to about 2 million outlets from the current 1.4 million outlets.

Nachos brand

Meanwhile, the company is also amplifying its focus on its nachos brand Mexitos this year.

B Krishna Rao, Category Head, Parle Products, said: “We have refreshed our strategy for our nacho chips brand, Mexitos. We are revamping the packaging in line with our strategy for premium products under Parle Platina. We are also adding new flavours to the Mexitos range.”

The nacho chips segment is pegged at ₹100-120 crore. However, this niche segment is growing at a fast clip and has witnessed the entry of multiple players since 2015.

“We are very bullish on the Mexitos brand. We believe the nacho chips segment will see explosive growth in the next four-five years. We aim to grab a 10 per cent market share in this segment by the end of FY 2018-19,” Rao added.

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