Wednesday, June 19, 2024

DS Group’s Catch Spices enters Rs 1000 crore club

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Catch Spices, a flagship brand of the DS Group, and a prominent FMCG conglomerate, has achieved a significant milestone in the packaged spice industry by entering the Rs 1000 crore club.

With a strategic vision, the brand aims to strengthen its presence, targeting a Compound Annual Growth Rate (CAGR) of approximately 30% over the next five years.

To drive its expansion plans, Catch Spices has diversified its portfolio by venturing into pastes, gourmet gravies, grinders, herbs, and pink rock salt, with several new product developments currently underway. The brand plans to leverage modern-format stores and e-commerce platforms, including quick commerce platforms, to reach a wider audience. Furthermore, Catch Spices aims to enhance its product offerings by focusing on digital-first products and regionalization, catering to local taste preferences.

Rajiv Kumar, Vice Chairman of DS Group, expressed his delight with the brand’s achievement in the spice sector. According to the latest industry estimates, the packaged spices industry in India reached approximately Rs 34,000 crore in 2023, with an 18% growth rate and a volume growth of 4%. In contrast, Catch Spices surpassed this trend, achieving a growth rate of more than 23%, with volume growth more than double that of the industry.

The Catch brand was introduced by DS Group in 1987 with the launch of the unique tabletop salt sprinkler. Today, the brand offers a wide range of products, including whole spices, blends, and pastes across nine categories, comprising more than 125 variants and 300 SKUs. These products are available in over 7 lakh retail touch points through more than 1500 distributors nationwide, as well as on various e-commerce and quick commerce platforms.

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