ITC, the Indian MNC headquartered in Kolkata, West Bengal, was founded in 1910 as the Imperial Tobacco Company of India Limited!
Yes, you read it correctly.
In fact, it was a tobacco company until as recently as the 70s!
A thread 🧵👇
#fintwit
Yes, you read it correctly.
In fact, it was a tobacco company until as recently as the 70s!
A thread 🧵👇
#fintwit
Today @ITCCorpCom is a diversified conglomerate with businesses spanning (get ready!):
• FMCG
• Personal Care
• Cigarettes & Cigars
• Branded Apparel
• Stationery Products
• Incense Sticks & Safety Matches
• Hotels
• Paperboards & Packaging
• Agri-Business &
• IT
• FMCG
• Personal Care
• Cigarettes & Cigars
• Branded Apparel
• Stationery Products
• Incense Sticks & Safety Matches
• Hotels
• Paperboards & Packaging
• Agri-Business &
• IT
So how did this diversification happen?
How did the company went on from being a tobacco based business primarily to its current, omnipresent form in the Indian consumer market?
Read on 👇👇
#fintwit #ITC
How did the company went on from being a tobacco based business primarily to its current, omnipresent form in the Indian consumer market?
Read on 👇👇
#fintwit #ITC
As the Company's ownership progressively Indianised, the name of the Company was changed to India Tobacco Company Limited in 1970 and then to I.T.C. Limited in 1974.
The full stops in the Company's name were removed effective September 18, 2001.
The full stops in the Company's name were removed effective September 18, 2001.
The Company now stands rechristened 'ITC Limited,' where 'ITC' is today no longer an acronym or an initialized form.
@ITCCorpCom's beginnings were humble.
A leased office on Radha Bazar Lane, Kolkata, was the center of the Company's existence.
@ITCCorpCom's beginnings were humble.
A leased office on Radha Bazar Lane, Kolkata, was the center of the Company's existence.
The Company purchased a plot of land situated at 37, Chowringhee, Kolkata, for the sum of Rs 310,000.
This decision of the Company was historic in more ways than one.
It was to mark the beginning of a long and eventful journey into India's future.
This decision of the Company was historic in more ways than one.
It was to mark the beginning of a long and eventful journey into India's future.
The Company's headquarter building, 'Virginia House', which came up on that plot of land two years later, would go on to become one of Kolkata's most venerated landmarks.
The first 6 decades of @ITCCorpCom were primarily devoted to the Cigarettes and Leaf Tobacco businesses.
The first 6 decades of @ITCCorpCom were primarily devoted to the Cigarettes and Leaf Tobacco businesses.
ITC's Packaging & Printing Business was set up in 1925 as a strategic backward integration for @ITCCorpCom's Cigarettes business.
Today it is India's most sophisticated packaging house.
Today it is India's most sophisticated packaging house.
In 1975, @ITCCorpCom launched its Hotels business with the acquisition of a hotel in Chennai which was rechristened 'ITC-Welcomgroup Hotel Chola'.
The objective of ITC's entry into the hotels business was rooted in the concept of creating value for the nation.
The objective of ITC's entry into the hotels business was rooted in the concept of creating value for the nation.
@ITCCorpCom chose the Hotels business for its potential to earn high levels of foreign exchange, create tourism infrastructure and generate large scale direct and indirect employment.
Since then @ITCHotels business has grown to occupy a position of leadership in the country.
Since then @ITCHotels business has grown to occupy a position of leadership in the country.
Currently there are over 100 owned & managed properties across India under 4 brands namely, ITC Hotels - Luxury Collection, WelcomHotels, Fortune Hotels & WelcomHeritage.
The company is even planning a super premium luxury hotel in Colombo, Sri Lanka.
The company is even planning a super premium luxury hotel in Colombo, Sri Lanka.
In 1979, ITC entered the Paperboards business by promoting ITC Bhadrachalam Paperboards Limited.
Bhadrachalam Paperboards amalgamated with the Company effective March 13, 2002 and became a Division of @ITCCorpCom.
Bhadrachalam Paperboards amalgamated with the Company effective March 13, 2002 and became a Division of @ITCCorpCom.
@ITCCorpCom's paperboards' technology, productivity, quality and manufacturing processes are comparable to the best in the world.
In 1985, ITC set up Surya Tobacco Co. in Nepal as an Indo-Nepal and British joint venture.
In 1985, ITC set up Surya Tobacco Co. in Nepal as an Indo-Nepal and British joint venture.
In August 2002, Surya Tobacco became a subsidiary of @ITCCorpCom and its name was changed to Surya Nepal Private Limited.
In 2004, the company diversified into manufacturing and exports of garments.
In 2004, the company diversified into manufacturing and exports of garments.
In 1990, ITC acquired Tribeni Tissues Limited- major supplier of tissue paper to the cigarette industry.
To harness strategic & operational synergies, TTD was merged with the Bhadrachalam Paperboards Division to form the Paperboards & Specialty Papers Division in November 2002.
To harness strategic & operational synergies, TTD was merged with the Bhadrachalam Paperboards Division to form the Paperboards & Specialty Papers Division in November 2002.
Also in 1990, @ITCCorpCom set up the Agri-Business Division for export of agri-commodities.
The Division is today one of India's largest exporters.
ITC's unique and now widely acknowledged e-Choupal initiative began in 2000 with soya farmers in Madhya Pradesh.
The Division is today one of India's largest exporters.
ITC's unique and now widely acknowledged e-Choupal initiative began in 2000 with soya farmers in Madhya Pradesh.
Now the #echoupal initiative by @ITCCorpCom extends to 10 states covering over 4 million farmers.
The Agri services vertical has been focusing on improving the productivity of crops while deepening the relationship with the farming community.
The Agri services vertical has been focusing on improving the productivity of crops while deepening the relationship with the farming community.
@ITCCorpCom launched a line of premium range of notebooks under the brand Paperkraft in 2002.
To augment its offering and to reach a wider student population, the Classmate range of notebooks was launched in 2003.
To augment its offering and to reach a wider student population, the Classmate range of notebooks was launched in 2003.
Classmate over the years has grown to become India's largest notebook brand and has also increased its portfolio to occupy a greater share of the school bag.
Years 2007-2009 saw the launch of Practical Books, Drawing Books, Geometry Boxes, Pens and Pencils under brand Classmate.
Years 2007-2009 saw the launch of Practical Books, Drawing Books, Geometry Boxes, Pens and Pencils under brand Classmate.
Paperkraft offers a diverse portfolio in the premium executive stationery and office consumables segment.
@ITCCorpCom also entered the Lifestyle Retailing business with the Wills Sport range of quality relaxed wear for men and women in 2000.
@ITCCorpCom also entered the Lifestyle Retailing business with the Wills Sport range of quality relaxed wear for men and women in 2000.
In 2006, @NaturallyWLS became a title partner of the country's most premier fashion event - Wills Lifestyle India Fashion Week.
In 2000, @ITCCorpCom spun off its information technology business into a wholly-owned subsidiary, ITC Infotech India Limited.
In 2000, @ITCCorpCom spun off its information technology business into a wholly-owned subsidiary, ITC Infotech India Limited.
The aim was to more aggressively pursue emerging opportunities in this area.
Today @itcinfotech is one of India's fastest-growing global IT services companies, across key focus verticals - BFSI, Retail, Engineering Services, Media & Entertainment, Travel, Hospitality, etc.
Today @itcinfotech is one of India's fastest-growing global IT services companies, across key focus verticals - BFSI, Retail, Engineering Services, Media & Entertainment, Travel, Hospitality, etc.
@ITCCorpCom's foray into Foods business began in August 2001 with the introduction of 'Kitchens of India' ready-to-eat Indian gourmet dishes.
In 2002, ITC entered the confectionery & staples segments with the launch of brands mint-o & Candyman & Aashirvaad Atta (wheat flour).
In 2002, ITC entered the confectionery & staples segments with the launch of brands mint-o & Candyman & Aashirvaad Atta (wheat flour).
2003 witnessed the introduction of @sunfeastcares as the Company entered the biscuits segment.
@ITCCorpCom entered the fast-growing branded snacks category with Bingo! in 2007.
@ITCCorpCom entered the fast-growing branded snacks category with Bingo! in 2007.
In 2010, ITC launched @SunfeastYippee to enter the Indian instant noodles market.
In September 2014, ITC launched GumOn Chewing Gum marking the entry into the category of gums.
In September 2014, ITC launched GumOn Chewing Gum marking the entry into the category of gums.
The Company entered the Fruit-based juices and beverages market with the launch of B Natural Fruit beverages in January 2015.
@ITCCorpCom's forayed into the dairy segment with the launch of Aashirvaad Svasti Ghee in November 2015.
@ITCCorpCom's forayed into the dairy segment with the launch of Aashirvaad Svasti Ghee in November 2015.
Launched in April 2016, Fabelle chocolates are ITC's premier offering in the luxury chocolate space.
@ITCCorpCom forayed into the branded coffee category in July 2016 with the launch of Sunbean Gourmet Coffee.
@ITCCorpCom forayed into the branded coffee category in July 2016 with the launch of Sunbean Gourmet Coffee.
In February 2017, ITC launched ITC MasterChef super safe spices - the first-of-its-kind spices launched in India, offering export quality super safe spices to the Indian homemaker.
ITC MasterChef Prawns were launched in June 2017 as the Company entered the Frozen foods segment.
ITC MasterChef Prawns were launched in June 2017 as the Company entered the Frozen foods segment.
ITC's first foray into the fresh fruits & vegetable segment was marked with the launch of Farmland Potatoes in Nov 2017.
In 2018, ITC forayed into the packaged milk segment with the launch of Aashirvaad Svasti pouch milk & into dairy-based beverages with the Sunfeast Wonderz.
In 2018, ITC forayed into the packaged milk segment with the launch of Aashirvaad Svasti pouch milk & into dairy-based beverages with the Sunfeast Wonderz.
In just over a decade and a half, the Foods business has grown to a significant size.
In 2002, @ITCCorpCom launched the Safety Matches initiative. ITC now markets popular safety matches brands like iKno, Mangaldeep, and Aim.
In 2002, @ITCCorpCom launched the Safety Matches initiative. ITC now markets popular safety matches brands like iKno, Mangaldeep, and Aim.
ITC's forayed into the marketing of Agarbattis in 2003. Mangaldeep is a highly established national brand & is available across a range of fragrances.
@ITCCorpCom entered Personal Care in 2005 & the portfolio has grown under 'Essenza Di Wills', 'Fiama', 'Vivel' 'Superia' brands.
@ITCCorpCom entered Personal Care in 2005 & the portfolio has grown under 'Essenza Di Wills', 'Fiama', 'Vivel' 'Superia' brands.
In May 2013, the business expanded its product portfolio with the launch of Engage deodorants.
@ITCCorpCom marked its foray into the health space with the acquisition of the brand Savlon and Shower to Shower in 2015.
@ITCCorpCom marked its foray into the health space with the acquisition of the brand Savlon and Shower to Shower in 2015.
In 2017, the business acquired the brand Charmis to enhance its skincare portfolio.
In 2018, @ITCCorpCom acquired the brand Nimyle to enter the floor cleaner space.
In 2018, the business also launched the Dermafique brand, foraying into the premium skincare product territory.
In 2018, @ITCCorpCom acquired the brand Nimyle to enter the floor cleaner space.
In 2018, the business also launched the Dermafique brand, foraying into the premium skincare product territory.
In 2020, the Personal Care Product Business launched multiple personal and home hygiene products and entered the fruit and vegetable wash category with the launch of the brand Nimwash.
In 2010, @ITCCorpCom launched its hand-rolled cigar, Armenteros, in the Indian market.
Armenteros cigars are available exclusively at tobacco selling outlets in select hotels, fine dining restaurants, and exclusive clubs.
Armenteros cigars are available exclusively at tobacco selling outlets in select hotels, fine dining restaurants, and exclusive clubs.
The incredible journey of @ITCCorpCom continues under the leadership of current chairman & MD Sanji Puri.
To learn more about such unknown stories of well-known entrepreneurs, follow me at @_BizBites
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