R P Sanjiv Goenka Group ventures into FMCG business with Too Yumm

Mumbai: R P Sanjiv Goneka Group has finally ventured into Fast Moving Consumer Goods segment with the launch of two products Foxnuts and Wheat Thin under brand name Too Yumm.

The products were launched in Kolkata and the company has lined up two more launches in Gurgaon and Pune later this month, according to Business Today.

Group Chairman Sanjiv Goenka indicated company's plans to expand the brand and take it to as many as 40 cities across the country. The expansion was likely to cover over 1 lakh retail outlets over a year's time.

"The plan is to launch 10 products with 40-50 variants over the next 12 months," BT quoted Goenka as saying. The company was also planning to foray into other segments of FMCG after it has tried its hand at food protfolio of the segment.

"The promoter plans to invest Rs 10,000 crore in the next one year which will include takeovers, acquisitions, setting up factories, brand creation, expanding distribution, infrastructure, etc," the report said.

A McKenzie study had advised the Group to enter FMCG and BPO business.