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livemint.com / 3 months ago
livemint.com / 3 months ago
Post-HUL demerger, Kwality Wall's aims to become a ‘snacking’ firm
Subscribe to enjoy similar stories. MUMBAI: As Kwality Wall’s (India) prepares for life after Hindustan Unilever, the ice-cream seller plans to become a year-round ‘snacking’ company, leading that change, top executives told Mint. “We are leading the shift of ice-cream, moving from a leisure snack or a leisure dessert to an everyday frozen snack.
And that's what we intend to do," Chitrank Goel, executive director of Kwality Wall’s (India) Ltd. (KWIL), said in an interview ahead of the company’s listing on the stock exchanges on Monday after demerging from parent company HUL in December. The Indian spinoff followed the demerger of The Magnum Ice Cream Company N.V.
from its parent Unilever and its listing on the Euronext Amsterdam last month. Kwality Wall’s wants to break away from the perception that ice-creams are a summer snack and position its products as year-round snacks. “When you make ice-cream made of dairy, chocolate, complex layers, etc, you would consume it around the year," Prashant Premrajka, chief financial officer of Kwality Wall’s, told Mint.
This conversion could be aided through the explosive growth of quick commerce. “And that is where the channel shift of quick commerce comes in. That it's an impulse category.
When I want to snack, ice-cream is the healthiest choice that is available to me," Premrajka said. However, about 60% of the company’s annual sales are concentrated in the summer months, he added. Kwality Wall’s has three major brands in India today: Magnum, Cornetto and Kwality Wall’s.
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