ITC Ltd would continue to sponsor sports events in the future but only through its food division, said the division’s marketing head, Hemant Malik.
“We select each of our food brands for different sports on the basis of the fitting image between the particular brand and sport,” Mr Malik told reporters here Wednesday on the sidelines of a press conference organised to announce ITC’s re -entry into sports sponsorship with the largest ever women’s tennis event in south Asia, ‘Sunfeast Open 2005, Kolkata.’
According to Mr Malik, the food division is well ahead of schedule to achieve a targeted turnover of Rs 500 crore by the end of 2005-06. “Right now we are in 10 categories of food and we will continue to enter a new one every three months till the end of 2005-06,” Mr Malik said.
However, he refused to disclose the categories that ITC is planning to enter in future.
He said that the food division has decided to make substantial investment to promote the different brands throughout India. “On an average, we will be investing 30% of our total investment in brand promotion,” Mr Malik said. However, he refused to disclose any details.
According to him, the company is also laying special emphasis on exports, especially in the ready-to-eat segment. “Our target is that exports should contribute around 30% of our total sales,” Mr Malik said. He said that the company is already exporting in a big way to the USA and will shortly enter the United Kingdom and some other European countries.
According to him, the food division currently has 30 manufacturing units and the company will continue to add more such units in the future.