Ice cream major, Vadilal Industries Ltd is set to sell its flavoured milk 'Power Sip' in the north Indian market as the company has decided to launch the new product in Uttar Pradesh over the next couple of months. The company looks to capture 5-7% share in the India's flavoured milk market in the next three years.
Being the number one ice cream player in UP, the company will utilise its extensive retail network in the state to offer its flavoured milk brand to consumers in Lucknow, Kanpur, Agra, Faridabad and Ghaziabad initially.
Commenting on the company’s plans for its flavoured milk business, Devanshu Gandhi, managing director of the company said, "Our Power Sip brand got an overwhelming response from consumers in Gujarat. This gave us the confidence to introduce it in Madhya Pradesh much ahead of our planned foray. The response there too has been very favourable."
"So, now in February we are taking Power Sip to Uttar Pradesh, one of the largest consumer markets in the country. More states will follow thereafter. Our aim is to capture a 5 to 7% share of the flavoured milk market in India over the next three years," he said.
The initiative is a part of the company’s long term strategy to offer a wider range of frozen food products to consumers and its first major product launch in the beverages market. The potential for growth in the Indian flavoured milk is very good with an estimated annual growth rate of 15-20%.
"This is our first major launch in the non-ice cream dairy sector and we plan to introduce more products in this space in future. Flavoured milk is largely an impulse category product and Vadilal will focus on making Power Sip available at tourist places, railway stations, bus stands, airports, schools & college canteens," said Rajesh Gandhi, Managing Director of Vadilal Industries Ltd.
Vadilal will sell Power Sip in a 180 ml bottle priced at Rs 18 with three flavours-rose, elaichi and kesar. More flavours like chocolate, badam and coffee will be followed over the next few months, the company informed in a statement.
