The ban and recall of Maggi 2-minutes noodle is a well-known happening that has even turned into a subject of case study to handle crisis .However, after a massive loss of $67.42 million and all the legal processes in the Indian courts of law, the product is finally about to see the light at the end of the tunnel (according to the update).
India’s most favorite snack is believed to make a comeback in the market very soon, maybe by the end of October. This comes after the balance of the legal case turned in favor to Nestle India and overturned the judgment towards the company. However, Nestle India is required to undergo a series of food testing processes yet again before getting the products to the shopping racks. In addition, the noodle maker had to pay a huge amount as plenty for the mishandling of the product, making it hazardous for human consumption.
According to the top sources , Mr. Suresh Naranayan the first Indian head-Managing Director in the country in 16 years was jet landed to bring an end to the ban. Getting Maggi back to the market as soon as possible is the priority to him and has gone all out for the same.
The company is awaiting the results of the fresh test outcomes carried out by government approved laboratories. The results are expected by the start of October after which the manufacturing process will begin in full force. Hence, the “once- fast to cook, good to eat” product which had 30% share of Nestle’s global 9,000 crores business is likely to be seen in the Indian markets very soon.
Re-establishing Maggi’s oath of trust in public will be the toughest job for Nestle India
In the meanwhile to decrease losses and share value declination, the company has notably bought down prices of rest of the products it manufactures. The 1-liter tetrapack milk is an apt example, which is available at a 33% discount. Britannia and Amul Gold have priced it at 65 and 62 Rs respectively. Whereas, Nestle India is offering the same at 60Rs per liter. This is seen as the company’s attempt to catch up with the vanishing market share.