CavinKare eyes world space, gears up to double business

CavinKare eyes world space, gears up to double business

Author | Source: The Economic Times | Saturday, Apr 08,2006 7:12 AM

CavinKare eyes world space, gears up to double business

CavinKare, one of the leading FMCG players in the country, plans to grow its international business for food and personal care products. Keeping this in mind, the company has scaled up investment at its new facility at Haridwar.

In an interview to ET, CavinKare chairman and MD, CK Ranganathan, said, “We expect our international business to double to Rs 50 crore. We see a big opportunity in the overseas markets.

In five years, we want to have strong global brands. We will launch products to suit the taste of each market. We will also aggressively promote our products.”

Mr Ranganathan said during FY06 the company grew by 12-13% and its turnover stood at Rs 500 crore, of which, personal care division accounted for Rs 350 crore.

Also, for the first time, its international business grew by 65% to touch Rs 25 crore. This year, the company's topline is expected to touch Rs 565 crore.

The company had redefined its distribution network via multiple channels to address supermarkets and rural outlets differently.

It has set up its subsidiaries in Indonesia and Bangladesh to sell personal care products like shampoos (Chick, Meera and Nyle), fairness cream (Fairever), deodorant and talc (Spinz) and hair dyes (Indica).

It has appointed a country manager for Saudi Arabia and is eyeing opportunities in Sri Lanka, West Asia, Egypt, Malaysia and Nepal.

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