By Shubhomita Bose
The Indian food industry is characterised by creativity and constant innovation. In recent times, the F&B industry has undergone a sea change and has emerged as an important segment propelling the Indian economy forward. To remain profitable in a highly competitive market, Indian F&B giants are laying thrust on innovating new concepts. Realising the immense scope for delivering new ideas to such companies, Eatitude, a Chennai-based company, was incorporated in 2007.
Eatitude provides management and product development solutions to F&B companies. Some of its well-known clients are Javagreen Pvt Ltd, Mischef Bistro, Kalmane Koffees and the Bayleaf.
Koushik Shankar, Culinary Operations Officer, Eatitude, is the driving force behind the company. In an exclusive interview with Bizxchange, Mr Shankar shares his passion for food and speaks about the potential of Indian F&B industry.
What inspired you to foray into the F&B industry?
I have been passionate about food since childhood. Hence, despite coming from a family of doctors and engineers, I was always keen on pursuing a career in the F&B industry. After completing a diploma course in Hotel Management from the Institute of Hotel Management — Bengaluru, I got an opportunity to gain some market exposure. In 2007, I launched Eatitude to put my experience into practice.
What challenges did you face initially? What lessons did you learn from the initial setbacks?
As an entrepreneur, I had to face some initial failures that eventually prepared me to overcome challenges more confidently. Today, I lay a lot of emphasis on client building and client retention to survive and grow in the long term.
What is your opinion about the Indian F&B industry?
The Indian F&B segment is growing at a phenomenal pace and is poised to attain greater heights in the near future. Exposure to global standards of quality has made Indian F&B companies more competitive. However, the industry is yet to explore its full potential. Indian F&B companies should concentrate on exploring local delicacies rather than focusing on introducing western concepts.
Furthermore, we should lay emphasis on upgrading the quality of our food products to make them more saleable.
Apart from this, food should be priced reasonably to attract more buyers.
In a competitive market scenario, what role does marketing play in distinguishing a company from the rest in the business?
Innovative marketing strategies are the key tools that facilitate growth in any industry. Considering the competitive nature of the Indian F&B industry, there is a greater need to combine product development with smart marketing tactics.
What scope does the F&B segment offer for small and mid-sized players?
Small and mid-sized players play a dominant role in driving the growth of the Indian food industry. Given the huge demand for innovative food products in the country, SMEs have immense scope for growth. These smaller companies should, however, focus on keeping the prices of their products as low as possible, to help the companies survive in the market.
A TIMES GROUP INITIATIVE