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Modern Food Enterprises re launches Iconic Brand Featured

Published in Corporate Monday, 22 May 2017 16:55



Looking at 25% revenue growth nationally by FY18


Modern Food Enterprises Pvt. Ltd. has announced a comprehensive re launch of its iconic Modern brand, with new brand positioning; new brand identity; a fresh, vibrant and contemporary new packaging; and an enhanced portfolio of superior products.
 

The new Modern brand has been carefully crafted to strengthen its appeal to multiple consumer segments, at every life stage, for every meal occasion, through a range of products that are smarter choices for consumers seeking healthier, nutritious and tasty options. 

The revamped new logo refreshes the iconic Modern word mark, making it vibrant and energetic, lending a sense of positivity, smartness, versatility and imagination to the re-launched brand. The packaging builds on the iconic elements of the Modern brand—the signature checkered patterns and stripes—and transforms them into a vibrant new look that manifests Modern’s new philosophy of ‘Thrive, and savour life to the fullest.’

The new packaging with distinctive color combinations across different offerings of its expanding portfolio is carefully crafted to stand out on the shelf. Modern, named the Most Trusted Bread Brand in India last year, has a legacy of over five decades in the country and is the pioneer of the organized bread sector in India.

Modern Food sees significant potential in the health and wellness breads category. In Kerala, the share of health and wellness breads in the market is less than10%, which significantly lags other markets which range anywhere between 15% to 25%. As a market leader, Modern will lead the development of this segment, making more healthy, nutritious and tasty choices available to the consumers in Kerala.


Aseem Soni, Chief Executive Officer & Board Member, Modern Food at a press Meet in Kochi said that the team at Modern Food has worked hard on creating an enhanced portfolio of superior products, keeping in mind the evolving taste of consumers and their changing lifestyles which demand healthy, nutritious and tasty food choices. “Hence, our increased focus on the health and wellness segment with our re launch.Overall, we are looking at a 25% increase in revenue by FY18, and at a goal to grow revenue four-fold by FY2021 to Rs 1,000 crore. In this context, we plan to strengthen our presence in the states where we are already present, especially Kerala, Tamil Nadu, Telangana, Karnataka, West Bengal and Maharashtra, and expand our presence in white spaces in the North and West. In Kerala specifically, we are planning to widen our reach in the southern parts of the state, significantly increasing distribution and, therefore, improving easy availability for consumers,” added Soni.
He further said that in Kerala, while Modern Food is already the most well distributed bread and bakery brand, the business will further increase its overall availability across the state by 15 to 20%.

Everstone Group, a leading Southeast Asia and India focused private equity investor with over US $3.3 billion assets under management acquired Modern Food from Hindustan Unilever Ltd. on 1st April, 2016and its relaunch has been crafted with intensive efforts over the last 12 months, with significant investments in manufacturing, and R&D at Modern’s new innovation hub in Chennai, as well as thorough efforts on consumer insights, strategy and design.

The new portfolio features products such as Milk Plus bread enriched with calcium; Hi-Fibre Brown bread reinforced with premium wheat fibre; 100% whole-wheat bread; and new innovations such as Multigrain Super seed Bread which not only has super seed sprinkles on top but even the flour is made of seven grains and contains Omega 3. All these products will be now available in Kerala, giving the state’s consumers a greater variety of healthier eating and snacking options that are tasty as well.
With a fresh, renewed portfolio of wholesome and tasty products, customers will surely agree that life with Modern Bread is truly adi poli; helping make memorable occasions more awesome!

With the backing of Everstone Group, the 25% revenue growth in Modern in the current fiscal year will be significantly driven by volume growth of more than 20% in the health and wellness segment.

Rajev Shukla, Managing Director, Everstone Capital Asia, Singapore,and a Director on the Board of Modern Food,stated, “At Everstone Capital, we believe in strong partnerships and building great brands. Modern is an iconic brand, and it has been a pleasure for me to work with the Modern Team in crafting the renovated mix. Now here in the country is the brand more iconic than in Kerala. In Kerala, even before the relaunch, within a mere six months of acquiring the business, the team has already innovated on the portfolio, launching 100% Whole Wheat Chapatis and 100% Whole Wheat Parotas. Both have been enthusiastically received by the market, and in less than 9 months, Modern has become the market leader, selling over 16 million pieces to date, demonstrating the power of its brand in Kerala.
Modern can scale to new heights in the future. Everstone will continue to work in partnership with Aseem and his leadership team to aggressively grow the business to reach national leadership in three-to-five years.We are committed to growing Modern Food, both organically and inorganically, in bread and bakery and the wider packaged foods category to realize the full potential of the business,” added Shukla.
Everstone will continue to make key investments in Modern to expand itsmarket and build the brand, improve quality, innovate and expand the range, as well as enter new markets and categories.

About Modern Food Enterprises Pvt. Ltd

Established in 1965 by the Government of India, Modern was the first branded bread in India. In the following decades, Modern became one of India’s best recognized brands with a full range of white, sweet, health and wellness breads, as well as value-added bakery products such as rusks, cakes, muffins, buns, pavs and cream rolls. Modern Food’s bread and bakery products are manufactured and marketed nationally through a network of over 40 manufacturing plants and around 80,000 outlets. In its new avatar, Modern wants its customers to ‘Thrive, and savour life to the fullest’ by helping them make smarter choices from its expanded range of healthy, nutritious and tasty bread and bakery products. 
Visit www.modernfoods.co.in for more information.

About Everstone Group

The Everstone Group is a premier India and Southeast Asia focused private equity and real estate investment firm with assets under management of over US $3.3 billion. Everstone has over 200 people working across six offices—Singapore, Mumbai, Delhi, Bengaluru, Mauritius and London. The firm’s strong presence and network in India and Southeast Asia allows its existing and new portfolio businesses to build operations in the region and beyond. Everstone has been awarded ‘Mid Market firm of the year in Asia’ for 2016 and ‘Firm of the Year in India’ for six consecutive years from 2011 to 2016 by Private Equity International.
For more information, visit www.everstonecapital.com

Last modified on Monday, 22 May 2017 17:12

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