FieldFresh Foods renames itself ‘Del Monte Foods Private Limited’
FieldFresh Foods, a joint venture between Bharti Enterprises & Del Monte Pacific, announced its new corporate identity – ‘Del Monte Foods Private Limited’. The change in identity is in line with the next phase of the company’s brand journey that will have a sharper focus on the branded processed foods and retail business.
Del Monte is an established brand in the premium foods segment in India, having a sizeable distribution footprint across key urban markets. Its retail business has grown by an encouraging 20% in FY21. The brand intends to maintain this growth momentum by introducing bigger, bolder product ideas and tripling its distribution coverage in the next 3-4 years, focusing on the top 8 metros. This will be supported by increased brand communication investments in relevant markets and a strong push on digitization across the value chain.
Commenting on the announcement, Mahesh Kanchan, chief executive officer, Del Monte Foods, said, “This is not just a change of name; it reflects a change in our approach, outlook, and philosophy. Del Monte has worked hard to establish itself in the market, and our focus will be on creating unique brand experiences at all relevant touchpoints while staying true to our brand promise of providing high-quality products.”
As per the KPMG report titled ‘Indian food processing industry: Growth opportunities post the Covid-19 pandemic’, India’s food processing market is set to grow from US$ 263 billion to US$ 470 billion. Customers’ aspiration for premium food products is also set to increase as Tier-II and Tier-III cities could mirror the trend visible in metropolitan areas of buying more processed food in the coming years.
To serve this segment, the brand name that resonates with Del Monte’s consumers, as well as partners, has been brought to the forefront.