Nutrine Confectionery has introduced yet another flavour to the éclair family, Nutrine Éclair Hazelnut. With this product, the company has entered the Re 1 segment in the confectionery market.
With over five decades of defining the confectionery market in India, Nutrine's latest offering is the result of extensive R&D efforts by its in-house team and the company's deep understanding of the Indian consumer's tastes and needs.
In the first phase, Nutrine Éclair Hazelnut will be available across 6,000 outlets in Bangalore. The product will be made available across 14,000 outlets in Karnataka soon. By July, the company plans to make it available across four lakh outlets across the country.
Sharing details on the product, B L Venkateswar, Senior VP, Marketing and Sales, said, "We take great pride in introducing Nutrine Éclair Hazelnut, which not only adds to our wide and unique product portfolio but also offers the Indian consumer the most popular combination of chocolate and hazelnut in éclair form."
The company has set aside an advertising budget for Éclair Hazelnut of approximately Rs 8 crore. Of this, Rs 7 crore will go into television commercials and the rest in school contact programmes and other mediums.
"The target audience for this product are children. Therefore, we plan to concentrate more on television commercials as children watch them more," said Venkateswar.
The confectionery business in India is worth Rs 1,800 crore, with the organised market being Rs 1,200 crore. Nutrine has 28 per cent market share with a growth of 20 per cent annually. With Nutrine Éclair Hazelnut, the company aims at capturing 20 per cent share of the Re 1 confectionery market segment.