Manikchand eyes entry into more FMCG products

Leveraging its well-entrenched retail network, the Rs 1,000-crore Manikchand group is weighing entering other FMCG products, using the contract manufacturing route. The group already has a presence in tea, tobacco, electrical switches, water and gutkha. Additionally, it is set to extend its dual pricing strategy even to its gutkha business, having already done it for its water, electrical switches and tea products. In an effort to plug price gaps for its water business, the group has recently launched Taral, a brand of bottled drinking water, which is at the same price point as all the other brands. The group’s Oxyrich is priced higher, as a premium product. “We will launch Taral in 20 litres after March 15, when the peak season begins. We have soft- launched the product in Pune about ten days ago and will soon take it to other parts of Maharashtra and Gujarat,” Manikchand Industries chairman Rasiklal Manikchand Dhariwal said.
courtesy:economictimes
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