In 2013 Economic Times reported that Popcorn industry in India has fatter margins than Bollywood movies. Puzzled?
Despite a 56% Customs duty on quality imported corn (mostly sourced from the United States of America), the two major popcorn players in India are Agro Tech Food, which has India rights for American company Con Agra’s Act II brand and Banaco Overseas – import around 23,000 tonnes annually. The third player which is not as big as its former counterparts but is in the race, it’s known as WOW Popcorn.
WOW Popcorn is a brand of WOW Food Brands Pvt. Ltd which is based in Mumbai. Currently, the company has 5 flagship stores and kiosk in Mumbai. Started in 2014 at a posh locality in south Mumbai known as Napeansea Road, the brand has been making quite some noise in the snack category. At present WOW has 7 flavors and the brand promises to increase more in near future. The brand is selling only in traditional retail format and has not yet made it presence in the online retail marketplace like Grofers , Local Banya and ZopNow.
As part of its marketing strategy, the brand is focused on making its mark with digital marketing. As of now, it has around 6,400 fans on Facebook and 750 followers on Twitter @wowpopcorn. The brand actively engages with its followers by way of contest, questions, trivia and more stuff.
It will be interesting to see whether WOW Popcorn makes it way to multiplexes and eCommerce portals.
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