FritoLays expects double-digit growth

Even as the strong global sales of PepsiCo Inc's snacks and drinks helped its

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profit go up by 26 per cent, its Indian arm also expects a double-digit growth this year, a senior company official said today.

"We (FritoLay India) expect a double-digit growth this year. We have already test-marketed some new flavours this season and the products are getting a good response. The products have already hit the market," PepsiCo India Director Marketing (FritoLay India) Deepika Warrier told PTI here.

The company today formally launched its four new flavours -- Mastana Mango, Tangy Twist, Hip Hop Honet and Chilly and Cheesy Mexicana. The flavours are the result of a 10-month long campaign carried out by PepsiCo in which it had sought ideas from the common man.

The firm, through its Give Us Your Dillicious Flavour campaign, got 1.3 million ideas from across the country of which it shortlisted four participants, who bagged a Rs 5 lakh cash prize for their 'delicious' ideas, she said.

However, the company would be choosing the best flavour among the four that will be piloted for the next two months, and the winner would get a prize money of Rs 50 lakh and one per cent royalty of the sales revenue.

FritoLay India is one of the market leaders in the Indian snack foods segment and has other brands like Cheetos (potato wafers), Qauker Oats and Aliva low fat baked biscuits.

The Lays potato chips, however, dominate with 80 per cent of the total volumes, Warrier said, adding the flavours are typical of the Indian market and taste and the company expects a good sales from the new products.

FritoLay's global sales rose this year with growth coming mainly from India and China. Warrier said the company also plans to enter into new food segments and launch more products this year.

She, however, declined to divulge any figures of investments or revenue it expects from the Indian market.

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