Singapore based CG Foods is scouting for a creative agency as well as a media AOR in India. The company now plans to promote its instant noodle brand, Wai Wai. Currently, the creative duty is handled by its Nepal based in-house agency, V-Chitra.
Speaking to afaqs!, Nirvana Chaudhary, managing director, CG Foods, says, "We have been present in Nepal, North and Northeastern India for quite some time. Now we are looking at increasing our base in West and South India. We are thus looking for a creative partner and a partner for media duties."
He adds, "We have 70 per cent market share in the Northeast, Sikkim and West Bengal combined. Pan India, we estimate our market share to be about 14-15 per cent in the Rs 1200 crore noodle market. We are targeting a market share of 25 per cent by 2014."
CG Foods plans to invest Rs 100 crore over the next three years. As part of the expansion plan, the company has set up a new plant in Rudrapur and is also looking at acquiring a FMCG company in the South or West. Currently, it has two functional manufacturing plants in Assam and Sikkim, with a combined capacity of 270 million packs. The company is aiming at increasing the number to 375 million packs in 2011.