Nestle's ₹7,500-cr premium opportunity

Nestle India on Tuesday said premiumization remains a ₹7,500 crore opportunity for the company, giving it space to expand its coffee, chocolates and pet care business in the country across rural and urban markets—a theme highlighted by several consumer companies as they tap changing consumer preferences and aspirations across markets.

- Suneera Tandon

The company, for instance, is set to open its first upmarket Nespresso coffee store in Delhi over the coming months. Its petcare portfolio reported double-digit growth during the December quarter.

"The overall premiumization opportunity we see in our categories is roughly ₹7,500 crore. The growth of this portfolio has been about 16% (on a CAGR basis) since 2015. Premium products are outpacing the category growth. That's what you hear from most companies, and that's what we also report," Suresh Narayanan, chairman and managing director of Nestle India, said during the company's analyst and institutional investors meeting held in Gurugram on Tuesday.