 Ladies and gentlemen, please once again, with a big round of applause and energy, welcome Mr. Mirza on stage. Sir, I request you to please come and join me on stage. And thank you so much for being a lovely audience. I think I have. Is this on or this is on? So, a very good afternoon. She said 10 years is actually 11 years, but I think I have too many mics on. So, which one do we turn off? Let me turn this one off. So, you can still hear me? Good. So, I think in 20 or 25 minutes you're going to have lunch. So, I don't want to bother you too much with a little bit of stuff about me and about what we have built over the last 11 years. I have the pleasure to be here 20-25 minutes. So, what can I put and what can I bring across in 25 minutes? It can't be that much. So, let's start with me. A little bit about me. Where are the slides? Okay, let's see whether that is working. Okay, so that is moving to the side. So, let's talk about me, first of all. So, who am I? I mean, my name is Oliver Mirza. It's a difficult name combination. Some people don't know, you know, where's the Oliver coming from? Am I Indian? Am I not Indian? It's a bit of a difficult question. Well, I'm a so-called hybrid. I'm half Indian by blood and half German, but by nationality, I'm German. So, I was born in Germany. I grew up in Europe, in Germany. And when you see the slide, I've put a little bit about what I experienced over the last 51 years. Probably, let's start in the middle. Let's see whether that is also working here. I'm here. So, I grew up in Europe. I'm German. I grew up in Germany. But I also lived in the US for two years. I studied in Germany. I'm a nutritionist by profession. But then I moved to the US. I studied business. And so, I also have a master's in business. And then now I'm in India. So, you can say I lived on three continents. I worked on three continents. And I'm a nutritionist and I hold a business degree. And over the last 30 years, I worked in different industries. But food is my passion. I always worked in food. So, I started as a pastry chef. So, I'm a pastry chef if you want so. So, I know how to make all these little macarons. That's what I took as a symbol. I did this for five years before I actually started studying. I first did a pastry chef and then went to university. And then I worked in two areas, which is the sweet area. Yeah, the biscuit area in Cambly. That's the Swiss brand. And also in the fruit gum industry. And then I joined Heinz Ketchup in Germany. I was in charge of Germany, Austria, Switzerland. I was there for a few years. And then I moved on to a honey brand, Europe's number one honey brand called Langnese. And then before I came to India 11 years ago, I was eight years with Barilla. That's an Italian pasta brand. We do V. So, the V still sometimes slips in. They, or we used to do pasta and pasta sauce all across Europe. So, that's the world I used to live in. I still live in. And I'm in India with my family. I have five girls, a big one and four smaller ones. So, we all live in Delhi for the last 10 years, the first year I lived in Mumbai. And I also have a hobby. I think these hobbies we can only afford in India as a European. So, we hold some goats and I do my own goat cheese. That's why I use the symbol of goat cheese. That's about me. And then let's talk a bit about what I'm here for. Well, I came, I moved from Germany to India for this particular job because I was asked by the Ötka group, can you build up the Dr. Ötka India business? So, when I came here in 2008, the business was zero. Turnover was zero. And we looked at the business. I looked at the business, came here. I was the first person on the payroll, if you want, so on Dr. Ötka India. And how did we look at the business? We looked at it and said, wow, India and Europe have similar size, but although similar size, it's like day and night. The differences are so vast, not only the differences in food, so many differences. And I keep on saying this, I probably also say this during the presentation a few times. We need to unlearn what we used to do in Europe, or what I used to do for 40 years, I had to unlearn everything and start learning new. So, when you see alone the food part, and we're here because we're a food brand, in the European world, it's the world of sandwiches, it's the world of burgers, it's the world of pasta, whereas the Indian world 10 years ago and even now is not yet that kind of world. But we're moving towards it. So that's the similar size. When you see, when you look at India in terms of size, it's just massive. Belgium, a small country is just as big as Kerala, or you look at the UK is as big as UP. And then we're here in India, and looking at it at one country is almost impossible. But it is the country of opportunities for Western comfort food, and that's why we looked at it. Now, the Dr. Edgar Global Pedigree is also in comfort food, and some of you, I just spoke with a gentleman from Volkswagen, some of you who have been to Europe, they know the brand, they know what we do. So what we do is, we do only Western comfort food. It is a bit misleading that there's a doctor in the brand because we do comfort food, not healthy food. But the doctor in the brand makes it a bit more healthy, so we're doing fine. So when you see on the left side, we do a lot around pizza, we do subs, we do deep dish, we do toasties. So we are in the world of burgers, pizza, subs, deep dish, for home consumption, not for the restaurant consumption, but even when you look at the restaurant consumption, if there's anyone from Domino's in the room, you please forgive me for the next sentence. Domino's worldwide does 1.5 million pizzas a day, we do 5 million a day. So from that kind of scale, Domino's is a nobody. But we are very strong in home consumption, whereas Domino's is on the delivery side, and also of course eat-in. So that's what we do, and on the other side, we are in the cake world, which we said, let's not look at the cake world in India, let's look at the other world, and that's what we did. So we focused on our core competency, and we thought it's easy to just bring it here, but of course it was not as easy. And the position was taken in the out-of-home market already, so we need to look at the in-home market. And that's what we did. So we looked at the biggest taste maker inside these products, which is mayonnaise. So when you look at a sandwich, the biggest taste maker is mayonnaise. You look at the toastie, it's mayonnaise. Even in the pizza sometimes is a cheese mayonnaise inside, or in a burger. So we looked at this market and said, wow, let's do this. And when you see this picture, this is the multiple usage of mayonnaise across the world. You see it in wraps. Japanese love it on their pizza. Germans love it on French fries, because as a German, I believe it's more healthy than ketchup, but we're not in competition with ketchup. We use it as decor. We use it to bind together vegetables. We use it in the UK as the favorite sandwich bread, or we use it simply as a butter replace-up. That all is the know-how that we have, but when we came to India, we realized nobody knows this. Nobody knows any of this. There's only 10 lakh people in India who know what a mayonnaise is. They buy the mayonnaise when we started this. Most of the people knew there is a white sauce inside the burger, but that that is a mayonnaise. Nobody knew, or that there is something creamy inside a sandwich. They also knew, but that that is a mayonnaise. People simply did not know. So it's a key ingredient in comfort food, but people didn't know. So that means if you come with a know-how that everybody knows everything, of course that is not working. So we had to unlearn that and learn new and start educating what the word mayonnaise means. Even when you come with a thinking of, yeah, it's the biggest condiment on the planet. And it is, mayonnaise is the biggest condiment on the planet. It's worth nothing if people don't know what it is. So when you look at this chart, the ketchup is not the king of American condiments, it's mayonnaise because in the US, mayonnaise is two billion USD market, whereas ketchup is only 800 million. And then look at, that's an article from 2014, but even in the UK, now mayonnaise sets out ketchup, outsets ketchup in the UK for the first time because they look at mayonnaise alone and mayonnaise has 80% fat over there. But even when you, that's now the mayonnaise segment. But when you look at dressings, mayonnaise dressings, if you put this together, it was always number one. So also in the UK it's bigger, but when we came and we started in 2008, mayonnaise was a nine crore market against ketchup being 500, 600 crores. So it's nothing against ketchup, although globally it's the number one. So except for some 10 lakh people scattered across the country in India, nobody knew what it was. And even a year later, two years later, I live in Delhi and I went to Vishal Megamat, which is some of you might know, it's a hypermarket in Mahipalpur here, not far from here. So I went to Vishal Megamat to check how they placed the mayonnaise. So I went inside the store, I couldn't find any mayonnaise. So I asked the store, where do you have mayonnaise? Where's mayonnaise? So then the guy looked at me and he didn't understand me. So I asked him again, where's mayonnaise? And I, no answer, a blunt face. So then I thought, okay, maybe it's because of my German accent so I have to try myself a bit in Hindi. So I asked, you know, mayonnaise, hey? So the guy again looked at me and said no, blunt. And then finally they brought a guy and showed his, yeah mayonnaise, it was Mahesh. So you know, between mayonnaise and Mahesh, I think it's a big difference, but it didn't seem to be for Vishal Megamat. And that is actually the problem, that people don't know what is mayonnaise, neither the store people know, a lot of store managerial people are not aware of what it is, and even consumers. So we are on a mission to make people understand what it is, to create relevance because it is a relevant ingredient across the world. So let's see which press, this one I have to press. So how did we do this? Again, learn, unlearn. So how did we do this? Yeah, because I think it's no secret, by now the market is no longer nine crores. It is now 200 crores. In 10 years we pushed it to 200 crores. And it's one fifth of the size now of ketchup. And in some retail chains, it actually reached a level of 50% of ketchup. Ketchup is not an enemy, ketchup is just for us the benchmark, because the category should be as big as ketchup, as globally it's the biggest category. So what did we do? We deep dived into mayonnaise. We tried to understand everything about mayonnaise because we thought everybody knows everything, but if nobody knows anything, then let's first understand what the people know. So we deep dived into mayonnaise. And when we started, there was just mayonnaise with attributes. So you see this on the picture, there's a mayonnaise, eggless mayonnaise. We acquired that brand in 2008. And there was a burger mayonnaise. You can see from the green dot, it's actually eggless and it's also vegetarian, but peck does not say so. And you also see dyed eggless. So eggless is mentioned, but that is a confusing term for consumers. We still get questions whether eggless means less egg or it's egg free. So people don't understand eggless. And if it's eggless, okay, there's no egg inside. Is there maybe gelatin inside or some other animal ingredients? So we're still being asked these questions from time to time. That is how we started. And we ourselves gave only attributes like eggless. And then when we started, we did a relaunch before our first advertising phase. We, I would say maybe by coincidence, I mean we can always say we did all this intentional because we're all marketing guys, but sometimes things also happen by coincidence and out of luck. So we renamed one SKU into mayonnaise veg, eggless. All others were called your burger mayonnaise eggless, garlic mayonnaise eggless, but one we just by coincidence, we named it mayonnaise veg eggless. And then we did a testing of eggs, of the TV spot. And we realized that when we did the TV spot for burger mayonnaise eggless and for tandoori mayonnaise eggless and for mayonnaise veg eggless, on that mayonnaise veg eggless, consumers have understood in eight seconds that this is a vegetarian product. But on the other spots, it took them 22 seconds because we showed them a 30 second commercial. But you know, Sunina, I'm happy to see you here as well from OMD, our media agency. When we then later started airing 20 second commercial and the consumer only understands after 20 seconds what the message is, one of the messages that's a vegetarian product, that we have a problem. That this insight gave us the confidence to say, let's forget all this, we create a new category. That means there was mayonnaise as a category and we now said, okay, there's mayonnaise with certain attributes and there is a veg mayonnaise as a category. So we created a new category called veg mayonnaise. And that is still there today. So when you see the mayonnaise, which was there in 2008, it was nine crore market, 50% was egg mayonnaise. The other 50% was vegetarian eggless mayonnaise. Now this four and a half crore have grown to 20 crores, but the vegetarian part is 180. That means that's where the major driver is coming from. We took this insight and said, eggless is not so relevant, people wanna hear veg. And let's not make veg a prior attribute. We created category called veg mayonnaise. So when you go out on the chefs today, there is mayonnaise as a category, but there's also veg mayonnaise as a category. And that is actually the biggest category. Sometimes you don't realize that mayonnaise is still a category. Quite often it's only one or two products because the overall market is only so small. And this is the beauty about building this category. You take an insight and scale it up and dare to scale it up because all people will just take that insight and attach it to one SKU. No, you have the guts to do this massively across the range and that's what we did. So we opened up a new category called veg mayonnaise and we moved all eggless products under the veg mayonnaise nomenclature. And this resulted in the end in a market size of a bit more than 200 crores. And we have grown from zero, you can say. Up to we have acquired a retail business in 2008 was 12 crores. We are now a 250 crore company. Major driver is the mayonnaise. The veg mayonnaise. And then we pushed and started our journey on building penetration, driving penetration but most of you are marketeers so I'm not talking anything new. We created a nozzle pack, 100 gram for 35 rupees. But we did not only push the price point. We have drawn the price point with the mayonnaise through the nozzle onto the tool spread. It's called visual impression. We burn it into the heads kind of message. And we've done this and we launched this SKU. It is this small SKU. We launched it in 2015 and by now it's our strongest SKU. That is what it is. Take it up and massively scale it up. Of course distribution also played a major role in here. I'll come to this in a minute. I think I have another two more slides. But it is about driving penetration so that more and more people understand what mayonnaise is. Why they understand? I'll come to this. I've not yet shared that. But that veg mayonnaise as a category is going into the smaller households as well and into deeper households from an SEC ABC classification as well. How did we do this? We created relevance through education. So we are saying that we only focus on education. And we're doing this through a TV spot in which when you look at the TV spot all we do is we instruct somebody how to make a sandwich. And it's not me. Sonali Bender is doing it for us. Let she shows how to make a sandwich. How to not have an ugly sandwich or a boring sandwich. How to have a yummy, tasty, fancy, creamy, juicy sandwich. So we're focusing very much on appetite appeal and education of how to make a sandwich. As well we show burger as a spot, tandoori, wrap as a spot and also macaroni. In macaroni, for example, we've gone ahead. So we're showing how to make a white sauce from mayonnaise. So white sauce is a basic ingredient into a mayonnaise. Mayonnaise is, of course, veg mayonnaise is a basic ingredient into the white sauce. That's what we're showing. And we're showing this on TV as one spot. But we also supported this on the ground with a promotion where consumers can actually do macaroni with white sauce. So all pure education. We're not focusing on you get 10 rupee for free or you know get, I don't know. Let's stick something to it because somebody gives it to us for free. We're focusing on educative promotions. So that's what we're doing. And with this we create relevance and with this we have achieved what we have achieved. So how does the future look for us? Focus on the consumer. And I think it's normal, but a lot of people focus on the competition. We focus only on the consumer because the consumer pays our salaries. We, yeah, it's called consumer centricity. We're not looking left and right what the competition does. Of course, we're a leader. So it's a bit easier to say so because as a leader you don't have to focus so much on left and right. But as a leader in this category, we have 70% market share. We're focusing on the consumer, but even, yeah, I'm mentioning 70% market share. We're not focusing so much on the market share because the moment we focus mentally on the market share then I'm focusing on the competition because I need to stick to 70% market share. I need to make sure that I stay number one and not number two. So then the competition becomes the focus. We focus on the consumer. Run as fast as you can to reach the consumer is our focus. And with that, we have begun our journey and we will continue our journey. We also monitor trends locally, globally. And that means we look at Nielsen data. We pushed Nielsen to give us data. Nielsen before had no Nielsen panel for my niece. We are the first customer for Nielsen and it's a pain cleaning up the data. I'm so sorry for you guys from Nielsen but it's real pain. But yes, the data, once you analyze, it is about the consumer and it's about what segments they choose, what segments are growing but also what are the trends locally and globally. And you see this every few years, there's a trend. It's low fat and then sometimes it's the Atkins trend right now from Europe very strongly coming over low sugar. So there's a low sugar trend coming in many variants. Yeah, sugar is now the bad guy. But let's see how long this will last. So we focus on trends and then cater to these trends. We have an olive oil mayonnaise with Italian olive oil from Basso or diet mayonnaise because we also see a health trend coming up. We focus on quality. Quality is the best recipe is our global slogan. And we do not compromise on quality, never. We rather exit the segment. And yes, we have the most modern sources plan in Asia. We recently in 2017, March, we opened the plan. We have gone ahead, invested massively into this plant. We have a new technology in this plant. Does anyone know how to lift an airplane? Why would the airplane go in the air? Anyone has any idea? Why and see? It has to do with the ankle and the air streams below the airplane. So with that, you create enough energy for the airplane to take off. That is what has that to do with mayonnaise because we introduced aero technology in our plan to make mayonnaise. So usually, not sure whether you know how to make a mayonnaise, it's simple. You just have a little bit of water and some cool mixture and oil and you need to blend it. But if you do this at home in a mixer, you put everything in a bowl and you always need to run with a mixer after the liquid. So it takes a lot of time and it's not so efficient. But if you do it like an airplane, you create ankles in the mixer and in the equipment that the mayonnaise always comes to you and we're able to make a batch of mayonnaise if everything is inside 1.5 tons in 15 seconds. That is aero technology. So we went ahead and invested in such a technology to be ahead of the time because why is this good? Why does it pay off for the consumer? We will use less editors. We will use less stabilizers in it. So eventually, because the world is moving towards all-natural, this is what it will lead to and our technology will address these points. So that's the process plan, mayonnaise sources. And then anyone has any guess what 489 means? Louder FDA? No, no, no FDA. It's the town presence. We are present in 489 towns. And as for Nielsen, yeah, the successful brand depends 75% of the distribution. So we are right now present in 489 towns. And we are, of course, expanding our town presence beyond these towns so that we go in smaller towns, especially in North and in South. We have a clear matrix on which towns we go to. But right now, we are in 489 towns. Is it important to be in 489 towns? Probably not for right now, but for the future and the stronger growth, of course, comes also from smaller towns. All towns grow double-digit, but the smaller towns sometimes grow triple-digit. That's about it from my side. Anyone has questions? I've been promised you're not going to be cut off. Osko mat kathega, somebody said. So anyone has questions? I think I stuck to the time, right? Yeah, 30 minutes. Somebody has a question. Do we have a mic for the lady? First table left. And I always carry along a mayonnaise. Even when I go to the customer, I carry along a product. Because sometimes we forget what we're working for. You sit with a buyer, you sit with anybody. But yeah, if you work for washing machines, you can't take it along. Well, probably you could, but it's a little bit difficult. But if you have a product, that is what we celebrate. Yes? Hi, my name is Vaidahi. I just wanted to ask, while veg mayonnaise really works in India, have you all used these ideas for Europe and other markets also? Like a lot of time, the trend comes from Europe to India. Has this time been a different way the trend from India has gone anywhere else? No, not yet. But what we see, so not yet. But what is happening is in Europe, Europe and US as a market have a stronger consumption of vegetarian mayonnaise. That is true. But it's coming from niche brands. And it's difficult for them, very difficult for them. Because the law, the European law as well as the US law does not allow the mayonnaise to be called mayonnaise. In Germany, for example, you need to put in 80% of oil to be allowed to be called a mayonnaise and a mandatory protein content of 5% or more. So egg is mandatory. The moment you take out egg, it's no longer allowed to be called a mayonnaise. That's why this trend has not happened from India outward. But we have a lot of inquiries from other countries. So we have shipped, for example, Malaysia, where the law does allow. And we have inquiries from other countries where we could probably also ship to. But honestly, we are not focusing so strongly in our group on pushing this out, because then we're busy with exports. And once you're in exports, that's an aculian task. We prefer to build penetration in India. But still, the trend outside is small, but it's also growing double-digit. So the other markets, like the US market or European markets and mayonnaise, is growing one or 2%. And the vegetarian one, more vegan, actually, is growing 10%. So there you see the other mayonnaise coming down a bit and those going up a bit. So there's a bit of a trend towards vegan and vegetarian food also in Europe. Let's say 20 years ago, I'd say 99% of the Germans were meat eaters. And today, you have 10% vegetarians and 1% vegans. Any other question? Yes? Can we pass on the mic to the young lady here on this table? My name is Geetika. And my question is to you and, in fact, to all the marketers here is what's one key to keep the customer or the consumer loyal? Loyal? Loyal. Like repeated customers should be there for the brand, right, irrespective of the competition around. And we want to give the best quality to the customer. We want to have a different marketing strategy to bring our products and brand. What is one key factor which keeps the consumer loyal to the brand? A very tough question, but I can answer only for our brand, of course, for us, what it is for us is that we offer value for money across the world. When you buy our pizza, for example, a pizza would be 2 euro. On a retail shelf, at a retailer, so 160 rupees would be a pizza when you pick it up from a retail shelf. So that's our philosophy that we focus on value for money. Value for money means what do you get and what do you pay for it and what do you get out of it. So when you see what we're doing, when we acquire it, I've shown you some pictures from the brand in 2008 and currently. When you see what we acquired as a brand in 2008, it was a 300-gram pack of mayonnaise. The price was 72 rupees for 300-gram mayonnaise, eggless mayonnaise. I'm coming to the question, to the answer. And today, the price is 75 rupees for 275-gram. And we had 10 years later. So we've increased the price in 10 years by 3 rupees, MRP, and decreased the weight by 25-gram, and that in 10 years. That means what we do is we do the utmost best. Literally, I can say I put a gun at everybody's head internally and say, you better find the efficiencies because we want to pass on all efficiencies to the consumer so that the consumer develops trust and reliability with our brand, apart from the brand building, so that a consumer today will know if tomorrow we increase the price, we have reached such a threshold that we can't do it anymore. But we are not a brand that, if you increase the price tomorrow, that day after, you get it a 20-rupee discount. The concept is called EDLP, Everyday Low Price. There's a concept of EDLP. I mean, in India, we are putting the price as a manufacturer, so we are liable for the price. But if you go in the rest of the world, the retailer would put the price on the back. So you either have a concept that you put a higher price, and every one month, every two months, you put a promotion price, and you go up again, or you do an EDLP, Everyday Low Price, which the consumer learns, I trust this. And that's what we do. And for us, that's the most strongest factor. Yeah? So now, to cut it off. Thank you so much. Yeah. I would now request Mr. Biswajit Samal, he's the head marketing for Volkswagen passengers cast, to please come and join me on stage. And to please give sir a token of appreciation for joining us here. And then in the meanwhile, please do not forget to tweet using hashtag E4M-IBC. We have a surprise gift for you at the end of the day. The most interesting tweet is going to win a...