Innovation Fuels Prominence: Akshay Bector, Cremica Foods

In an exclusive interview with Akshay Bector, Chairman and Managing Director of Cremica Foods, we delve into the journey of the brand that started as a passionate endeavour and grew into a celebrated name in the food industry. From its humble origins in the early 80s to becoming a pioneer in the industry, Cremica Foods has carved a remarkable niche in the market. Discover the driving forces, strategic milestones, and insightful perspectives that shape the success story of this iconic brand. Excerpts from the interview:

What inspired you and your family to enter the Food Industry and establish Cremica Foods?

Entry into the food sector is a story of passion and it was a business that came out of the hobby of my mother Rajni Bector in early 80’s. Since then, Cremica has been doing a fairly good job in the sector consistently. Last 30 Years has been hugely rewarding with the brand having a very high following, which added to the brand’s goodwill and the growth over the period of time. Passion of doing good job continues till today and we have been very fortunate that sticking to these principles made us as one of the most recognised brand in the Indian Food Processing Sector.  

What are the key milestones and strategies that have contributed to the company’s success in 30 years?

Cremica Food was started as a joint venture in 1996 as a supplier to McDonald’s. That was also the recognition of quality standard and ethos that business was exhibiting in the market. 

A large part of the McDonald’s Supply Chain was handled by Cremica Foods at that time. Eventually, we ventured into the market and launched India’s first vegetarian mayonnaise and then later we also launched ketchup. 

Significantly, in terms of milestones, notable achievements include the equity investment this year, the establishment of a food park four years ago, and a remarkable milestone of discovering new brands in the past year. Presently, Cremica's mayonnaise and ketchup have emerged as the fastest-growing brands in the retail market. 

While this success partly stems from a rebound following the challenges posed by the pandemic, Cremica maintains its premium position in the sector. Among the pivotal accomplishments in the past two decades, the brand's substantial pricing power stands out, consistently demonstrated across all channels.

Cremica Foods is known for its diverse range of food products. How do you foster a culture of innovation within the company to continually develop new and appealing products? 

There was a desire to assume a leadership role, so we went on to develop the world's first vegetarian mayonnaise under the Cremica Foods trademark. We pursued innovation in tomato ketchup, a concept previously absent from the retail market. Further solidifying our commitment to innovation, the company pioneered the development of potato chips fried in olive oil, a pioneering achievement on a global scale. This culture of consistently delivering excellence is deeply ingrained in our work ethic, and our unwavering dedication to innovation has contributed to our prominence, particularly in the out-of-home market.

Could you provide some insights into the research and development process behind launching a new food product? 

Nothing special but a sense of developing an excellent product is what we look at. This is something what is lacking in today’s business environment. Cremica brings a very fresh feeling into the market and then it gets carried to the consumers. It's always a tough task, where price is not the sole determinant of value until the product possesses distinctive characteristics. This journey is undoubtedly challenging, yet ultimately rewarding. It requires unwavering perseverance. Over the span of two decades, we have honed the ability to progress slowly and steadily, maintaining our leadership position. Our approach often involves pioneering endeavours that are unprecedented in the market.

How Cremica Foods integrates sustainability and responsible business tactics in business?

We are reusing our water for biofuels and consistently working towards reducing water consumption during production, which we consider essential sustainable practices at Cremica Foods. These measures have now become an integral part of our processes. At Cremica, we adopt a comprehensive 360-degree approach to minimise resource wastage.

We have been actively contributing to recharging water levels and supporting local villages surrounding the plant in replenishing their water sources at a rural level. Additionally, we extend assistance to these villages by providing water treatment facilities.

What advice would you give to aspiring entrepreneurs to enter food industry?

Today, there are young individuals who venture out to instill value through innovative contributions to the market, which is undoubtedly a positive sign. While some of them will inevitably succeed, others might face challenges – that's an inherent aspect of entrepreneurship. Emulating what already exists in the market isn't the path to follow; instead, aspiring entrepreneurs should focus on being the first to introduce innovative and impactful initiatives to secure their position.

At Cremica, we entered the market armed with an in-depth comprehension of the crucial link between quality and food. Our journey is fortified by a century of experience and extensive knowledge. Remarkably, we have maintained an unblemished record when it comes to quality standards.