It has been 100 years since KC Confectionery started operations as a family business in Couva.
But in the last two years, the company’s resolve was tested more than ever.
KC had evolved from a simple family operation selling Paradise Plum sweets within their community to a fully-fledged commercial giant in the Trinidad and Tobago market. But in its centennial year it its traditional streams shaken by the COVID-19 pandemic.
“Well the biggest impact on KC over the last two years has been a decline in sales. And of course, as you know, major sectors of the economy shut down, which is what restricted sales and also a lot of our channels of sales, especially like in schools, restaurants, the casinos, the bars, which were closed, so there was no opportunity to sell in those areas,” said the company’s CEO Satnarine Bachew.
Bachew became CEO of the candy company earlier this year, and has the challenge of charting a new course for the company as it plots the recovery from the fallout of the pandemic. He explained that despite the declines in sales, there have been lessons learned and the company’s resolve has been strengthened.
“We had to restructure our strategy to get into the supermarkets, the pharmacies, whatever on a greater emphasis so that we can keep up with our sales but there was still declines because demand was low. What this has brought to us is the focus more on niche markets and how we can get better sales when there are not the mass products out there. This is a lesson that we’ve learned over the last few years,” said Bachew.
The company as a result, has placed greater emphasis on its export market. Bachew explained KC had a significant presence outside of Trinidad and Tobago, but the time had come to expand even further.
“I must say very proudly that KC is a net earner of foreign exchange, and our export markets have worked tremendously for us. Almost 70% of our production is exported and this has brought great value in terms of earning US dollars, and we continue to expand that area. Currently, after the COVID we are revisiting all of our current export markets to see where the opportunities are that we can grow and also looking at new markets. Especially in the US, the UK, we recently sent our first shipment into the UK just February of this year. And that is an opportunity for expansion. Because you know, UK, we know we can expand into Europe, which will bring real value to us,” he said.
The company has begun to see signs of furthering its reach. Last Wednesday it achieved a milestone within the Caricom market, as for the first time KC sent a full container of products to Grenada, when traditionally its distributors would only call for less than a container.
The company has not been afraid to enter uncharted territory, according to Bachew it is the KC spirit of adventure that lead it to become a market leader in candy production and sales in Trinidad and Tobago.
“(KC) has also been a very creative and innovative company in terms of the products that they produce. They try to blend in the local culture in terms of some of the products that we make and that has gone a long way in capturing market share. It has also been a very adventurous company in terms of expansion. In the very early days, the company was based in Couva. It still is but most of its market was in Couva,” said Bachew, “The Founding Fathers saw the opportunity to expand this into Caricom, into the US, into the UK, into Canada. And this is what has provided the engine of growth for KC over the years. So its creativity, its innovation, its adventure into the export market, to good sales and also its care of its people and the duty of care.”
The company has recognised, particularly in the wake of the pandemic that it can not simply expect to rely on its traditional streams.
This has prompted the company to become a bit more innovative and explore new lanes to ensure continued success in its second century.
Bachew said, “It’s always searching for the new wave and this is where we are right now searching for what will propel KC into the future, where the growth is gonna come from and we are putting a lot of emphasis on expansion of our markets. The export market is going to be the key to KC. Because as we know what we call market is 1.3 million people whereas the export market is a whole world out there.”
He admitted that were new challenges posed by the Ukraine Russia conflict but the company through the dedication of its staff, many of whom stayed on in spite of challenges during the pandemic, KC is pushing onward.
“To our employees who have stayed with us, most of our employees every year for a very long time. And it’s because of the duty of care and the love of this company. So we want to say thanks very much and we look forward, eagerly intelligence into the future. Although there are so many uncertainties in terms of especially in the global supply chain right now, which is so disruptive, that you know, the whole arrival of spares and raw materials and everything brings the challenge of its own,” said Bachew.
He stressed however that it will require a level of dedication and hard work from the team, but he was confident the company would deliver.
“Of course, that is not going to just happen just like that. We have a new product line that we are working on and that is good to give us the impetus to get back out there. Plus, of course, becoming more competitive, producing more, expanding our operations. And this is where our headspace is. It’s all about growth. We have come to a certain distance over 100 years and the next 100 is going to be even better,” he said.