ITC had invested Invested 20cr for a 16% stake in Mother Sparsh in 2021. The revenue was15.57crores.They targeted to hit 40cr in 2022 but did 33.53cr when ITC invested another 6% for 13.5 crores.
ITC also invested 39.37cr for 10% in MYLO (Bluepin technologies). MYLO clocked a revenue of 1.39cr in 2021. Its 2022 revenue is not available online.
Now, ITC has invested 175cr for 39.4% in Yogabar with MOU to invest more. Yogabar did revenue of 68cr in 2022.
None of these new age brands are on sale at ITC store and neither is Mother Sparsh on MYLO. This is not surprising since ITC has not been able to utilize its cigarette network to push sunfeast biscuits and Bingo chips, a space completely taken over by Balaji and Britannia/ Parle. Cross Selling is one of the biggest boons in FMCG business.
| Subscribe To Our Free Newsletter |
