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Tag: Maggi Noodles

  • Nestle ties up with Snapdeal for new coffee launch with exclusive offering

    Nestle ties up with Snapdeal for new coffee launch with exclusive offering

    MUMBAI: Nestlé India announced the launch of a new coffee -Nescafé Sunrise Insta-Filter, adding to its range of coffee and beverages. Nestlé India has partnered with Snapdeal for an exclusive offering of this product starting April 30. The exclusive pack from Sanpdeal comes with a traditional South Indian steel tumbler.

    The company says that Nescafé Sunrise Insta-Filter provides the taste of filter coffee and yet does not require a filter and is specially made from 100 per cent Indian coffee beans, handpicked from Coorg and Chikmagalur.

    Announcing the launch Nestlé India General Manager – Beverages Nayla Sioufi said, “Traditionally, the coffee market in India is divided into two segments which include the instant and roast & ground coffee. Observing a trend of dual usage we realized that consumers want a product offering which provides the best of both worlds- the taste of filter coffee with the convenience of instant coffee. With the introduction of Nescafé Sunrise Insta-Filter we aim to create a whole new segment expanding the overall category in India while enhancing consumers coffee experience.”

    Nescafé Sunrise Insta-Filter will be available in the market at the cost of Rs 60 for a 24 gram pack that contains 15 sachets of 1.6 gram each as well as a 100 gram pack (tin) for Rs 225.

    Earlier this month, the Indian part of the largest food company in the world, launched a brand new exotic range of Greek Yoghurt under the brand name of Nestlé a+ Grekyo.

    For damage control and rebuilding of trust for its noodles products, Nestlé India hired McCann World Group for the Maggi Noodles relaunch, with the agency’s India unit chief executive Prasoon Joshi in charge of the creatives for the campaign. ZenithOptimedia handles the media buying duties for the company.

  • Nestle ties up with Snapdeal for new coffee launch with exclusive offering

    Nestle ties up with Snapdeal for new coffee launch with exclusive offering

    MUMBAI: Nestlé India announced the launch of a new coffee -Nescafé Sunrise Insta-Filter, adding to its range of coffee and beverages. Nestlé India has partnered with Snapdeal for an exclusive offering of this product starting April 30. The exclusive pack from Sanpdeal comes with a traditional South Indian steel tumbler.

    The company says that Nescafé Sunrise Insta-Filter provides the taste of filter coffee and yet does not require a filter and is specially made from 100 per cent Indian coffee beans, handpicked from Coorg and Chikmagalur.

    Announcing the launch Nestlé India General Manager – Beverages Nayla Sioufi said, “Traditionally, the coffee market in India is divided into two segments which include the instant and roast & ground coffee. Observing a trend of dual usage we realized that consumers want a product offering which provides the best of both worlds- the taste of filter coffee with the convenience of instant coffee. With the introduction of Nescafé Sunrise Insta-Filter we aim to create a whole new segment expanding the overall category in India while enhancing consumers coffee experience.”

    Nescafé Sunrise Insta-Filter will be available in the market at the cost of Rs 60 for a 24 gram pack that contains 15 sachets of 1.6 gram each as well as a 100 gram pack (tin) for Rs 225.

    Earlier this month, the Indian part of the largest food company in the world, launched a brand new exotic range of Greek Yoghurt under the brand name of Nestlé a+ Grekyo.

    For damage control and rebuilding of trust for its noodles products, Nestlé India hired McCann World Group for the Maggi Noodles relaunch, with the agency’s India unit chief executive Prasoon Joshi in charge of the creatives for the campaign. ZenithOptimedia handles the media buying duties for the company.

  • New case filed against Nestle India in Consumer Court

    New case filed against Nestle India in Consumer Court

    NEW DELHI: Even after reports that Maggi Noodles have been found to be safe for consumption, a complaint has been filed against Nestle India in the National Consumer Disputes Redressal Commission (NCDRC) by the Department of Consumer Affairs on behalf of consumers of Maggi.

     

    The case has been filed under section 12(1)(d) of the Consumer Protection Act, 1986 in the National Consumer Disputes Redressal Commission (NCDRC) as class action suit on behalf of the large number of consumers of Maggi in the country on grounds of unfair trade practices, sale of defective goods and sale of Maggi Oats Noodles to the public without product approval.

     

    The complainant has sought a total claim of Rs 639.95 crore.

     

    This includes a sum of Rs 284.55 crore that the opponent company is liable to pay and a sum of Rs 355.40 crore as punitive damages on account of the gross negligence, apathy and callousness on the part of the opponent company. 

  • Q2-2015: Maggi ban hits Nestle for a loss of Rs 64.4 crores

    Q2-2015: Maggi ban hits Nestle for a loss of Rs 64.4 crores

    BENGALURU: In what is probably a first, Nestle India Limited (Nestle) has reported a loss. A loss to the extent of Rs 64.4 crore in the quarter ended 30 June, 2015 (Q2-2015, Nestle’s financial year ends on 31 December). Hit by the Maggi Noodles controversy, exceptional items worth Rs 451.66 crore have wiped off the Rs 333.1 crore profit before exceptional items and tax that the company had earned. 

     

    The resulting loss of Rs 118.56 crore was mitigated by a tax credit of Rs 54.16 crore and the result was the above mentioned net loss of Rs 64.4 crore. 

     

    Last quarter, the company had reported a profit after tax (PAT) of Rs 320.28 crore and a PAT of Rs 287.86 crore in Q2-2014. For now the company has suspended manufacture of Maggi Noodles pending a decision of the Bombay High Court pertaining to a case it has filed regarding interpretation of the Foods Safety and Standards Act, 2011. The loss of the brand value, goodwill is difficult to calculate.

     

    Note: 100,00,000 = 100 lakhs = 10 million = 1 crore

     

    The company says that net sales worth Rs 288.38 crore has been reversed in the current quarter in relation to Maggi Noodles stock being withdrawn from trade partners and the market. The exceptional items amount of Rs 451.66 crore relates to estimates of loss on account of stocks withdrawn including incidental costs thereto and other costs incurred exclusively in the ordinary course of business, dealt with in with the Accounting Standard AS2 on valuation of inventories and Accounting Standard AS5 on net profit or loss for the period, prior period items and changes in accounting policies.

     

    Let us look at the other numbers in Q2-2015 that have changed:

     

    The company says that its net sales have been impacted by 20.1 per cent on account of Maggi Noodles. Nestle’s net domestic sales have decreased by 20.6 per cent , export sales decreased by 12.7 per cent impacted by lower coffee exports Russia, partly offset by export of milk and nutrition products to Bangla Desh. Nestle reported net Total Income from Operations (TIO) of Rs 1957.01 crore in the current quarter as compared to the Rs 2516.48 crore in the immediate trailing quarter and the Rs 2431.97 crore in the corresponding year ago quarter.

     

    Total Expenditure (TE)  in Q2-2015 declined to Rs 1634.38 crore as compared to the Rs 2000.75 crore in Q1-2015 and the Rs 2008.91 crore in Q2-2014. Nestle’s cost of materials consumed declined to Rs 718.80 crore in Q2-2015 as compared to the Rs 1110.50 crore in Q1-2015 and Rs 1123.47 crore in Q2-2014.

     

    For the six month period ended 30 June, 2015 (6M-2015, YTD), Nestle reported a 5.9 per cent drop in TIO to Rs 4473.49 crore as compared to the Rs 4753.48 crore in 6M-2014. PAT in 6M-2015 declined to less than half (fell by 53.2 per cent) at Rs 255.88 crore as compared to the Rs 547.02 crore in the corresponding period of the previous year.

     

    During 6M-2015, TE was lower at Rs 3635.13 crore as compared to the Rs 3913.13 crore in 6M-2014. The company’s cost of raw materials declined to Rs 1829.30 crore as compared to the Rs 2275.39 crore in 6M-2014.

     

    Nestle’s board of directors at its meeting held on 29 July, 2015 based on the recommendation of the Nomination and Remuneration Committee, appointed Suresh Narayanan as managing director of the company effective from 1 August, 2015, subject to approvals. The company will seek consent of members by means of postal ballot on the proposal of the appointment of Narayanan as managing director. The board of directors has also appointed Abhinav Khosla, a chartered accountant, to act as the scrutinizer for conducting the postal ballot process in a fair and transparent manner.

  • Big B adds Maggi Noodles to his ad diet

    MUMBAI: Bollywood icon Amitabh Bachchan has added Nestle‘s instant noodle brand Maggi to the list of brands he endorses.

    The actor has recently shot a one-minute advertisement for the popular snack. This is the first time Maggi Noodles has roped in a celebrity as an endorser.

    Bachchan first appeared in BPL commercials in 1996 and has since then been associated with brands across categories. Some of the brands that senior Bachchan has been associated with include Pepsi, ICICI, Parker Pens, Cadbury, Nerolac, Dabur Hajmola, Himani Fast Relief, Navratna, Emami Boroplus, Eveready, Reid and Taylor, Save Our Tigers Campaign, Gujrat Tourism, Zen mobile, Binani Cement and ICICI Prudential.

    Maggi Noodles is a 27-year-old brand that has become synonymous with instant noodles. The brand‘s proposition has been ‘the two minute noodles‘. In 2009, on completing 25 years, the brand initiated a campaign which invited consumers to share their experiences with it.

    Maggi‘s sub-brand Soupy Noodles is endorsed by Bollywood actor Kajol. Other notable association with Maggie was Javed Jaffery for its ketchup brand which carried the tagline ‘Its Different‘.