The most famous and revenue generated product of Nestle India’s instant noodle brand Maggi has attains 60% share and the company is all set to reach the pre-crisis level of sales.
With the 60% share, Maggi is still away to create the pre-crisis period when Nestle used to cover the market with 75% business share.
Suresh Narayan, MD and chairman of Nestle said, “We are little over 60% market share. In business terms, we are almost back to where we were in term of pre-crisis. In value terms, we are almost back there”.
However he added further, “We still have some time to catch up the pre-crisis volume”.
The Maggi is currently contributing about one-third of the total sales of the company. In 2017, Nestle India crossed Rs 10,000 crore mark of the sale.
In 2015, Food safety and Standards Authority banned Maggi for five months thus forcing the company to withdraw the high revenue product from the market but after fighting the legal battle, they are back in market in November, 2015.