Hindustan Lever Ltd (HLL) plans to enter the business of bottled water by the end of the current fiscal. The company would also be expanding its service line of businesses during the year.
The product would be novel to the Indian market and will not have a competition per se in the segment. It would be different from the water purifiers currently available in the Indian market.
HLL’s foray into the drinking water market is part of the company’s ‘Project Millennium’ strategy, which chart the course of FMCG giant entering fast growth areas. The idea is to provide consumers a product that is economical as well as durable.
HLL would price the product much lower to the water purifiers currently available. Besides, the company would also extend its service line of business during the current fiscal to garner market share and volumes for its products.
The company’s strategy is to rope in channel partners in all service business line where it lacks the expertise to run the show.
Source: Financial Express