The newly formed Tata Consumer Products (TCPL) is prepping to become a full-fledged FMCG firm in India. Not only that, but the company is also foraying into various consumer products and seeks to explore new opportunities in the international market. A positive roadmap has been stated by the company’s Chairman N Chandrasekaran for TCPL.
Chandrasekaran, in the company’s annual general meeting told shareholders, “TCPL will aim at emerging into a full-fledged FMCG firm and also scout for new opportunities in the international markets.”
He also informed that Covid-19 pandemic impacted business in the last quarter of 2019-20 and the first quarter of the current fiscal. The company is expecting a slow recovery of the supply chain. The company opened 39 new Starbucks outlets during the last financial year which takes the store count to 185. Among the all stores, only 50 percent are operational at the moment due to Covid 19 restrictions.
Son’s Chairman said that TCPL is looking at a vast portfolio of consumer
products. He also added that the demand for packaged foods is higher than usual
as people have been stocking. He reportedly further said, “TCPL will
strengthen distribution and marketing channels so that its products are
available nationwide. Also, the company will bolster presence in the U.S., U.K.
“Even though Covid-19 will impact in the near term, Chandrasekaran says, TCPL is positive about FY21 and beyond. He reportedly also told shareholders about a conscious call to broaden the focus to make it an integrated food and beverages company”.
TCPL came into effect from February this year, after Tata Global Beverages and Tata Chemicals merged their consumer businesses to create a focused consumer products company. Tata Global Beverages was renamed as TCPL to reflect the new strategic direction of the company.
The amalgamation of the two consumer-focused businesses was done to benefit both sets of shareholders who will be able to participate in a larger business poised to grow their share of the foods & beverages market with a broader exposure to the attractive and fast-growing FMCG sector.