Varun Berry: Britannia working on plans to invest in emerging startups

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Britannia Industries is working on initial plans to build its team over the next six months to invest in startups and emerging companies of various platforms. Britannia managing director Varun Berry shared his views “We will consider investing small investments in startups across platforms. the details are currently being worked out”.

Berry said while the company slowed down after Diwali, demand had returned, and the measures announced in the interim budget on February 1 are expected to trigger rural consumption over the next two quarters. “We expect double-digit volume growth and rising consumption as we are in an election year. We hope inflation on the road to elections is below 5%, but it will depend on government policy. “

For the third quarter, which ended in December 2018, Britannia posted net profit growth of 14% year-on-year at Rs 300 crore and a 7% increase in volume growth, after under three-quarters of double-digit volume growth. However, in the three-year average, which includes the demonstration year, growth was higher than in Dabur.

Industry experts said that a number of start-ups that have emerged in areas such as logistics, distribution and financial technology to ensure seamless trade-channel transactions are attractive purchases for consumer goods companies. According to a recent report from Bain & Co, India, China, and South Korea are leading the global expansion of online retailing due to increased consumption. The Asian region is growing threefold. According to the report, India grew at an average annual growth rate of 53% between 2013 and 2017, in comparison to China’s 33% and the US which grew 12%.

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