Edita Food Industries introduces Molto Fino, expanding portfolio in the savoury subsegment of Egypt’s bakery market
Besides the rebranding and a full-fledged marketing campaign, Edita has introduced three innovative new flavors to the Molto Fino family to satisfy customers’ evolving demands. dita Food Industries S.A.E. (EFID.CA on the Egyptian Exchange and EFID.L on the London Stock Exchange), a leader in the Egyptian packaged snack food market, announced today the launch of its latest biscuit product, Oniro Mini LAVA. Sold under Edita’s Oniro brand, Oniro Mini LAVA is a flavoured biscuit filled with cocoa hazelnut cream and is offered in vanilla and chocolate flavours.
Edita Food Industries S.A.E. (EFID.CA on the Egyptian Exchange and EFID.L on the London Stock Exchange), a leader in the Egyptian packaged snack food market, announced today the rebranding of its Molto Sandwich line of baked snacks. Reintroduced as Molto Fino, the filled sandwich product is now offered in 8 flavors, of which three have been newly introduced: Mexican cheese, Roumi cheese, and pastrami. Existing Molto Fino flavours include olive, Istanbolli cheese, hot pepper, feta cheese, and chocolate.
With the introduction of Molto Fino, Edita aims to capture new growth opportunities arising from changing market preferences, tapping into new subsegments in the market for baked goods, in which Edita currently enjoys a leading market position with a market share of approximately 60%. Through its Molto Fino offering, Edita has established a solid platform from which to expand its portfolio and grow its market share in the bakery market’s rapidly growing savoury subsegment, deepening its exposure to a dynamic component of Egypt’s snack foods space and cementing the Company’s dominance in the broader market.
The launch is being accompanied by a full-fledged marketing campaign, including high-profile television advertisements and online activation trucks deployed to Cairo and rural areas, at which consumers can play and win. Such efforts increase awareness of the new brand in a manner that conforms to consumer tastes and communicates a modern and approachable theme.
Molto Fino retails for EGP 5 per pack and is available in pouches containing one sandwich each, marking further progress on Edita’s wider portfolio optimisation strategy, which has seen the Company migrate consumers towards higher price-points while diversifying its product portfolio through the continuous introduction of innovative new offerings.
The Molto Fino family also comes as part of the Company’s strategy of capitalizing on its research and development capabilities to introduce high-value products to Egypt’s growing snack foods market. Molto Fino sandwiches are free of hydrogenated fats, in line with Edita’s prioritization of consumer wellbeing and efforts under the Company’s sustainability compliance framework.
Edita became the first company to introduce packaged croissants into the Egyptian market in 1997. Revenue from Edita’s bakery segment represented 37.6% of the Company’s consolidated top line in 3Q2021, making baked goods the Company’s second-largest segment by revenue. The segment grew at a rate of 16.0% year-on-year in 3Q2021 and at 34.9% year-on-year during 9M2021. In June 2021, Edita announced the purchase of a new bakery production line, which is set to begin operations in 2Q2022 and is expected to increase the Company’s bakery capacity by 20%, facilitating Edita’s efforts to create value by servicing new sub-segments of the baked goods market.