GENEVA: Food giant Nestle’s global chief Paul Bulcke has said that he has drawn the lessons from India’s ban on Maggi noodles and is now trying to salvage the image of his company.
The Nestle chief insisted that its hugely popular Maggi brand was 100 percent safe.
The Switzerland-based food giant’s reputation took a bashing “because it’s a big brand and that (ban) made a lot of waves,” the Belgian chief executive said in an interview with a foreign news agency.
Maggi to lose brand value
According to Brand Finance, a consultancy firm, Maggi is set to lose over $200 million (180 million euros) in brand value following the setback in India.
Maggi was previously valued at $2.4 billion, Brand Finance said, adding that it had ranked the noodle manufacturer as the 23rd most valuable food brand in the world.
The ban in India could have devastating implications for Maggi in neighbouring countries where it is also very popular, experts warn.
India’s food safety regulator on June 5 outlawed the product after it said tests showed the noodles contained excessive levels of lead.
