Mr. Sanjeev Pant, Vice President of Branded Food at Charoen Pokphand Foods (India), has stated that the company aims to take advantage of the high growth markets of India and Vietnam and target these markets further.
The company plans to invest into India and Vietnam, to the value of USD$50 million dollar, with plans to expand its Branded Foods business in the two countries, in the next five years.
The company aims to open 500 branches in India, growing to five major cities in India: Bangalore, Chennai, Hyderabad, Mumbai and Delhi. In Vietnam they will expand to Hanoi, Ho Chi Minh City and Da Nang.
"The markets in India and Vietnam are both growing fast and have a lot of potential, since it is a new market and such a large market. The company wants to build a brand image that has been popular with consumers," said Pant.
It is expected that sales in India will grow 30-40% this year due to a new marketing strategy implemented 6 months ago, with there were still being plenty of further opportunities for growth. The division in Vietnam is expected to grow from between 20-30% after two years, but the business here did not have the same opportunity for growth, due to the constraints of economic growth and the purchasing power of the Vietnamese people.
"The study of the Vietnamese market will take some time, due to the fact I have just been assigned responsibility for this market. But both India's and Vietnam's market are very similar," said Pant.
Mr. Sanjeev said the company also planned to further the business in other ways, such as a home delivery service to meet the needs of consumers. This is the new version which was working with a little time. This business is expected to be launched within the year.
"We want to be a top chicken brand in Asia as it will be in line with our parent country Charoen Pokphand Foods," Sanjeev Pant, vice-president of branded food at Charoen Pokphand (India) said
Branded Foods was launched in India, in November last year.
CPF started operations in India in 1992 with its first feedmill in Chennai starting commercial production in 1996.
CPF (India) currently operates a number of feed mills in the country to support its integrated aquaculture and poultry businesses.
Their feed mills include:
Vishakhapatnam, Andhra Pradesh - 9,000 MT/m (Prawn feed)
Chittoor, Andhra Pradesh - (Aquafeed)
Vijayawada, Andhra Pradesh - 9,000 MT/m (Poultry feed)
Bangalore, Karnataka - 9,000 MT/m (Poultry feed)
The Company also has 30 breeder farms and six hatcheries, located in Vijayawada, Chittur, Pondicherry, Bangalore, Mysore and Pune.