New Delhi, June 23 (ANI/Business Wire India): JHS Svendgaard, India's leading dental and oral health care manufacturing company, is on an expansion and has recently raised approximately Rs. 9.2 crores.
The funds will be utilized to fund its future plans and ramp up its business not only in the domestic market but also globally.
JHS Svendgaard Laboratories has set up a new subsidiary in the Ras-Al-Khaimah, Free Trade Zone, UAE.
The subsidiary shall initially be engaged in import; export and trading of oral care products and personal care products.
Speaking about the growth in oral healthcare market and company's expansion plans, Nikhil Nanda, Managing Director, JHS Svendgaard Laboratories Ltd. said, "At present, 700 million units of toothbrush are being sold in India and the demand is projected to grow to 1700 million by 2012. With our diverse platform of product offerings and excellent manufacturing capabilities, we are well positioned to serve the demand."
"With infusion of new funds and our overseas initiatives, we see JHS achieving its business objectives rapidly and surpassing growth targets", he added.
The Company is also looking to diversify its portfolio and entering tie-ups for new products. The company has earlier bagged order from Subiksha retail to manufacture toothbrush and tooth paste under the brand name "Dr Beam" for the chain, one of country's largest retail chains, for the last one-year.
With the growth of organized retail and the requirement of Private Label products, the overall market for oral care products in India is likely to multiply exponentially in the next two to three years.
The dental and oral care market expected to grow at 10 per cent compounded annually for next five years.