Raymond:Raymond aims to double FMCG turnover to Rs 1,000 cr in 3-4 yrs
Textile and apparel major
Raymond is sharpening its focus on FMCG business as it plans to double turnover
to Rs 1000 crore over the next three-four years.Raymond is present in the FMCG space through its subsidiary JK Helene
Curtis, which makes the Park Avenue brand of men''s grooming products. It was
begun in 1964 as JK Ansell.The combined FMCG revenue between the two companies is Rs 500 crore at present.The Raymond group had recently acquired Ansell''s stake
in the sexual wellness and personal care brand KamaSutra, from joint venture
entity JK Ansell and expects to get regulatory approvals shortly, it said.
"We are transforming the whole group. What has not been achieved
in the past 50 years in the FMCG business (for the group), we want to achieve
in less than five (years)," Raymond chairman and managing director Gautam
Singhania told
reporters here.Raymond FMCG business chief executive Giriraj Bagri reiterated
that the company expects to reach Rs 1,000 crore sales in the next three to
four years.
The company today the company will take the Park Avenue range of men''s grooming
products to global markets like West Asia, Bangladesh and Nepal to begin with
and then to Sri Lanka, Bhutan and Myanmar in the second phase."One Park
Avenue is another significant step that will strengthen our FMCG play both
nationally and internationally, which is an important driver for value creation
for us," Singhania said.
The company had formed its FMCG Group in 2016 and its products reach 25 lakh
retailer, including 90,000 pharmacies and also exports to Southeast Asia, West
Asia and Africa.The domestic men''s grooming industry is estimated to be Rs
5,000 crore and Raymond said it will be launching new products in the category.
It also plans to evaluate opportunities in the women''s segment in future.It has a strong presence in the Rs 1,500 crore-men''s
deodrant category, with Park Avenue garnering a share of 10-11 per cent and KS
enjoying a market share of 4-5 per cent.
Source: Et.retail.com,India
Friday, 17 November 2017