Brands
2023 NIQ bases breakthrough innovation awards in India
Mumbai: NielsenIQ has released its highly-anticipated BASES Breakthrough Innovation Awards for 2023. The awards recognize successful product launches across all strategies, ranging from launches that managed to disrupt their categories and grow their brand, to targeted plays that did not intend to appeal to the mass market but were meant to delight a specific target. This year, they are also acknowledging the ‘Wavemakers’ – innovations that, within less than three years, have already made a significant impact in their respective domain.
This year, Breakthrough Innovation named 10 winners among this year’s innovative brands in India that have transformed their categories. It also acknowledged 2 Wavemakers, products that show great potential for future success.
This year’s Breakthrough Innovation winners have successfully navigated through a persistently precarious landscape, marked by the enduring impact of the COVID-19 pandemic, supply chain disruptions and extraordinary inflationary constraints.
The recipients of this year’s India Breakthrough Innovation winners have made remarkable strides across diverse product categories. Buyers gravitated towards food and beverage brands that had a fun and indulgent aspect to them. Spicy flavors were very popular with buyers, but consumers were also seeking out healthy and whole ingredients in their snack foods. Whole ingredients transferred in other verticals too as buyers looked for healthy benefits in their personal care products with proactive and preventative care top of mind. Throughout all product categories, Breakthrough Innovation winners in Indian have excelled in delivering convenience through a variety of product formats and packaging options.
“When it comes to evaluating innovations, there is no ‘one size fits all’ approach anymore. It is critical to understand the business objectives and the innovation strategy”, said BASES Leader South Asia Vidya Sen. “However, one common thread for success is sustainability of the innovation in-market which is non-negotiable”. As a result, BASES looks at the scale of the innovations in year 1 and their sustained growth in year 2, to arrive at the winners.
BASES scrutinized 3000+ innovations across 85 categories in FMCG & OTC, to come up with 12-odd winners. The combined year 1 sales across the winners are Rs. 623 Crores, which speaks of the impact innovations can have if developed and executed with perfection.
“Innovation is more than making a change. It is making a difference!” said Sen.
The 2023 India Breakthrough Innovation Award Winners are:
- Cadbury 5 Star Oreo
- Cadbury Dairy Milk Lolly
- Cadbury Dairy Milk Silk Mousse
- Colgate Visible White O2
- L’Oreal Paris Dream Lengths
- Lay’s Sizzlin’ Hot
- SMOODH
- Sunfeast All Rounder Potato Biscuit – Cream & Herb
- Tata Soulfull Ragi Bites No Maida Choco
- Whisper Choice Night
The 2023 India Breakthrough Innovation Award Wavemakers are:
- Dettol Powder to Liquid Handwash
- Lay’s Gourmet
Brands
Raj Cooling Systems launches Agreyas appliances brand
Emraan Hashmi named brand ambassador for consumer appliance push.
MUMBAI: A company known for cooling solutions is now heating up its ambitions in the home appliances market. Raj Cooling Systems Pvt. Ltd. has launched a new consumer appliances brand, Agreyas, marking its entry into India’s rapidly expanding home appliances sector valued at more than Rs 1.5 lakh crore. The move represents a strategic diversification for the company, which has traditionally focused on cooling solutions for residential, commercial and industrial applications. Through Agreyas, the firm plans to tap into growing consumer demand for energy efficient and technology driven household appliances.
To build brand visibility, Agreyas has appointed Emraan Hashmi as its brand ambassador. The campaign has been developed under the banner of Zoommantra Productions, with actor and filmmaker Rohit Roy contributing to the creative direction.
The brand’s initial portfolio will include mid premium air conditioners, washing machines, geysers and other white goods designed to cater to modern Indian households seeking efficient and reliable appliances.
Raj Cooling Systems, founder and chairman Kalpesh Ramoliya said the launch aligns with the company’s broader expansion plans.
“The launch of Agreyas is in line with our vision to build a strong presence in India’s consumer electronics and home appliances market. The brand has been developed as a standalone identity to meet the evolving needs of Indian consumers,” he said.
Hashmi said the collaboration comes at a time when Indian buyers are increasingly looking for innovative and functional home solutions.
“I’m looking forward to working with Agreyas at a time when consumers are seeking more innovative and efficient home products. The brand reflects changing consumer behaviour around functionality, innovation and ease of use,” he said.
Raj Cooling Systems plans to invest around 10 million dollars in developing the brand, with an additional 5 million dollars earmarked over the next three to five years for product development and distribution expansion.
Agreyas will follow a multi channel distribution approach, selling through online platforms, retail outlets and dealer networks aimed at both urban and semi urban markets across India.
With the launch, the company is positioning Agreyas as a standalone consumer facing brand while continuing to leverage its existing manufacturing, engineering and research capabilities built through its core cooling solutions business.
