Nestle, the leading consumer company in Pakistan, is discontinuing Maggi, after 27 years of its launch in the country.
Sources close to the development have confirmed that the company has decided to stop the production of Maggi and that the available stock in the market is the only lot left.
While there is no official word on the matter as yet, the source suggested that the continuous incurring losses could be the reason behind this move.
“Maggi lost its profitability a long time ago. The product could not hold the ground against Knorr Noodles as it could not sustain the recent marketing push from the company. Over time, Nestle tried various marketing tweaks to regain Maggi’s profitability, but failed.”
Massive losses incurred during this period forced Nestle to close down its Maggi chain, and the numbers agree.
A recent market report released in August this year revealed that Maggi had lost ground against other noodles in the market.
Knorr currently holds a 55% market share of instant noodles in Pakistan while Maggi stands at 35%.
The report revealed that Shaan’s Shoop is also gaining momentum and stands as the third most-consumed instant noodle product in the country.
It is worth mentioning here that Nestle was first to introduce instant noodles in Pakistan with Maggi. The product was launched in 1992 while Uniliver launched Knorr Noodles a year later. However, with their attractive marketing strategy and a variety of flavors available, Knorr soon took over Maggi in the country.
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