New Delhi, July 19, 2021: Homegrown beverages firm Parle Agro on Wednesday said it has made a foray into the dairy segment by launching flavoured milk products under the brand name of ‘Smoodh’.
The diversification is backed by an in-depth research and extensive investment in modern and innovative technologies to build a robust dairy infrastructure and introduce novel products to the Indian consumers, the company said in a statement.
With a price of Rs 10 for a 85 ml tetra pack, Parle Agro aims to disrupt the segment.
“With this offering, Parle Agro is gunning to grow the branded flavoured milk market in India from the current Rs 800 crore to Rs 5,000 crore in the next four years,” the company said.
Smoodh is available in two choices, chocolate milk and toffee caramel, aiming to target consumers across all age groups according to the reports published in economictimes.indiatimes.com.
Nadia Chauhan, joint managing director and chief marketing officer of Parle Agro, said, “Years of dedicated R&D (research and development) have gone into developing this incredible product. And, like all Parle Agro products NSE -1.01 %, I am extremely happy and delighted to finally launch it in the market for our consumers to experience.”
Smoodh also meets the need of consumers looking for a quick energy boost or a quick sweet fix, equivalent to that of a Rs 10 chocolate bite, it added.
Parle Agro, having a turnover of almost Rs 7,000 crore, operates in fruit juice-based drinks and packaged drinking water.
