InvestorQ : Is Parle Agro planning to grow aggressively in the current year?
Arti Chavan made post

Is Parle Agro planning to grow aggressively in the current year?

Rutuja Nigam answered.
2 years ago

Mumbai based beverage and confectionary group. Parle Agro, has earmarked a sum of Rs.240 crore for marketing and advertisement across various platforms. Parle currently retail popular brands like Frooti and Appy Fizz. The idea is spread their ad spend across media platforms and high reach properties like IPL.

The group is looking to get top of mind recall once consumption resumes in a big way. The early summer days have been a washout and Parle expects the situation to improve in the coming months. Parle has roped in celebrity endorsers like Alia Bhatt, Varun Dhawan, Allu Arjun Priyanka Chopra and Jr. NTR to cater to the niche Western and South markets.

Parle will also be back with a major television ad campaign for high impact, albeit after a gap of nearly 18 months. In India, impulse purchases are normally driven by top-of-mind recall, which plays a critical role. For the year 2021, Parle is expecting 50% growth and need the ad support to fire up their sales engine. According to the Parle top management, they are targeting Rs.10,000 crore of annual turnover by the year 2022.

The company is betting big-time on IPL 2021 with Frooti as the official on-air sponsor for the IPL while B-Fizz will be promoted on Disney Hot star considering its youth-centric brand. In the midst of the pandemic, Parle managed to grow its market share by 8% via repositioning its sales and distribution network. Parle distribution network touched 1.9 million stores and the e-commerce platform has also been growing exponentially. Over to intense summer.