Pantaloon Retail Ltd, a part of the Future Group, has entered into strategic alliances with companies like Ruchi Soya Industries, Chaudhary Group, and Fun Foods recently to strengthen its base. These tie-ups materialised at a vendor meet held in the National Capital on July 21-23, 2006.
Through initiatives like vendor meet, Pantaloon Retail aims to provide a platform to small and medium entrepreneurs to showcase their products and thereby give them an opportunity for a nation wide customer interface.
Said Damodar Mall, President, Food Business Division, Pantaloon Retail, “Today it is very difficult for smaller players to get into the national level markets. But given the entrepreneurial spirit of India, we at Pantaloon believe there is a huge business opportunity to be tapped here. With this initiative we have taken the much needed first step to explore this potential.”
Ruchi Soya Industries Ltd is a leading vegetable oil and soya foods company in India. The Rs 5,000 crore company has brands like Nutrela, Ruchi Gold, Ruchi Star and Nutrela Soyumm. The company will benefit through the tie-up by expanding the sale of its brands through the Food Bazaar outlets.
Pantaloon Retail will give Wai Wai noodles, a popular brand from the Chaudhary Group of Nepal, a platform to be present at all Food Bazaar stores all over India.
By getting into an alliance with Pantaloon Retail, Fun Foods is going to set up salad bars at Food Bazaar stores. The product portfolio of Fun Foods includes spreads, mayonnaise, dips and dressings, and pizza toppings, among others.
Commenting on the strategic alliance with Pantaloon Retail, Dinesh Shahra, Managing Director, Ruchi Soya Industries Ltd, said, “The alliance will provide us the platform to showcase our branded portfolio through Pantaloon’s pan India presence. This tie-up will help us cater to the growing demand for FMCG products and reap the benefit of rising disposable income.”
Pantaloon Retail aims to launch such vendor initiatives across categories. While speaking on the joint venture aspect, Mall didn’t divulge much, all he said was, “We will play on each other’s strength and respect each other’s core expertise. The benefits will accrue to each other.”