In an exclusive interview to Restaurant India, Srikumar Misra, Founder & CEO, Milk Mantra shares about his idea of starting the most innovative dairy brands in India.
With a unique conscious capitalist approach for nourishing pure living for consumers and farmers, Milk Mantra, a dairy firm based in Orissa creates innovative dairy products that consumers ‘love’. It has World’s two most innovative brands- Milky Moo and Moo Shakes that are created out of the need to give customers’ more healthy products.
Tell us about your brand presence and its value chain?
Milk Mantra is the umbrella company and we have two brands; a fresh milk brand called the Milky Moo, which is majorly present in Eastern Indian states like Orissa, West Bengal and Jharkhand. We have done significant innovation in terms of product quality, product integrity through the value chain and especially on packaging innovation focusing on the convenience of the consumers. The other brand is Moo shake brand, which is a functional health milkshake with cur cumin which is an active ingredient of turmeric. It is a product we have developed and launched in Bengaluru. .
What is so innovative about your products?
Moo shake is world’s first milkshake with cur cumin and that’s the innovation in itself. It is very healthy and is not just beneficial for kids but also adults.
What was the inspiration behind starting these innovations?
When we were starting Milk Mantra, we realised that Milk boils due to two reasons, the temperature and the light exposure. And, no one till now has done any innovation in the fresh dairy segment and milk was being sold in pouches for 30 years in India. We made a significant innovation to see how we can develop a new kind of pouch, which will prevent themilk from damaging due to light exposure. We have developed a film called tri packed film and the film has a black inner layer which prevents light exposure. We made this kind of packaging available for the first time and with this the shelf life of milk has doubled. And, the consumer did not need to boil it again.
How much effort and money have you put in this innovation?
We believe in Google innovation, and not in investing money, rather re-engineered thing to come up with the best.
What is the response of your customer towards your product as this is first of its kind product?
For Milky Moo brand over the last four years we have grown at about 100 per cent year on year and we are the fastest growing fresh dairy brand in the country. I can say the consumer response is tremendously positive. And for Moo shake brand, the response that we are getting in Bengaluru is pretty good and from next month’s onwards we are going to expand this in big cities and also into new markets.
How about national presence?
Fresh dairy is extremely regional in large country like India; even Amul is not a national brand. We are widely present in Orissa, Kolkata, Jharkhand and are about to launch in Chhattisgarh.
How are you bridging the gap of a traditional dairy player to that of an innovative dairy player?
We are not bridging the gap; we are creating next generation of innovative dairy product. We are pioneers in the innovative dairy segment. We are first to do this kind of innovation and a milk that consumer can have the confidence to take straight from the dairy. And, our Moo shake is also a next level for milkshake with lots of health benefits. So, if you want to have 3-4 Moo Shakes a week, your immunity will see lots of improvement.
Do you see any competition in the market?
Yes, of course we have competitions from other brands.,There are brand and products which are in the same name space. But our products are a bit different, for example- The Moo Shake is entirely a new category we are trying to build.
How about having a global tie-up?
Our fresh dairy has milk, paneer, pro-biotic dahi which is also very unique product and only few brands in India have it. We don’t need a global tie-up because our product development category is very strong internally.
Are you confident of taking your reach to other regions?
We used to wonder before launching whether the consumer will love our products or not. But with this new kind of packaging we can launch this product in a developed market like Mumbai, Bengaluru and Delhi and even in Orissa, consumers have spent on it and they can sense the value in addition while paying for it. It is very important for us because innovation which is focused on tangible consumer benefits can really work. And consumers will really accept them well because today they are smart.
What about the distribution network?
We have a pretty wide and deep distribution network with 130 distribution and we are present in Eastern India in about 6000 outlets including kirana shops, convenient stores and supermarkets.
How have you grown as a brand in terms of revenue?
We are a four years old brand, in the first year we closed at Rs 18 crore, hitting the market the following year with Rs 45 crore revenue. In 2014 we were at Rs 73 crore and are targeting around Rs 120-130 crore revenue this fiscal, followed by Rs 250 by doubling the targets and expansions.