Growth Recharge

Eveready is diversifying into the highly competitive confectionery and FMCG segments. Will its gamble pay off?

Sandipan Chatterjee

A third-generation entrepreneur, 33-year-old Amritanshu Khaitan is young and articulate. He took charge of the family’s Rs.1,400 crore Eveready Group only two years ago and is now looking to leverage the 110-year-old brand across a whole host of new businesses. The brand known for its iconic ‘Give Me Red’ campaign, commands a 52% share of the dry cell battery market in India. About 57% of its revenue comes from the sale of batteries and flashlights bring in another 14%. “Eveready is an iconic brand selling nearly 2.5 billion pieces and it reaches over 700 million people. However, the category turnover is only about Rs.1,800 crore. Hence, we have decided to leverage the brand to foray into new businesses,” says Khaitan. In 2013, Eveready diversified into the LED lighting market and the home and kitchen electrical appliances in 2016.