Modi-Meloni moment makes Melody buzz: 'Shocked' Parle says price is going to...

On Wednesday morning, Prime Minister Narendra Modi gifted Italian Prime Minister Giorgia Meloni a packet of Melody toffees during his visit to Rome as part of his five-nation tour. In an interaction with India Today, Parle Vice President Mayank Shah said that the prices of the popular toffee would not go up anytime soon. 

"I don’t think so. We are not going to increase prices there. But yeah, I think you will see a huge spike in demand, and we are already seeing that since morning, as I shared," Shah said. At present, Melody is listed as out of stock across quick commerce platforms like Blinkit, Zepto and Swiggy Instamart across the country.

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He added that there has been a lot of traction on quick commerce platforms since the viral moment took place this morning.

Mayank Shah further stated, "We expect the growth to accelerate. It's a brand that's growing very well, and we would further see acceleration in growth. Not just that, it's the largest toffee brand of India, so the kind of growth that you would be seeing would be huge." 

He mentioned that the growth in the toffee's demand would take place across the globe since it is already available in 100 countries. 

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While he refused to give a projection of the sales, the Parle V-P claimed, "Since morning, we have been getting suggestions like, 'Why don't you call it the national toffee brand or national toffee of India?'"

Besides this, he categorically mentioned that Parle is not getting listed on the bourses anytime soon, adding that the speculation happens because of the company's size. 

"We continue exploring growth opportunities, but currently, there are no plans for listing. That speculation keeps happening time and again because it’s a big company. We are a very large company and one of the very few large companies that have still not gone public. So we continue seeing that speculation happening time and again, but as I said, while we continue exploring opportunities for growth, that’s not on the cards currently."

Watch the full interaction here