Emami Ltd plans big in aurvedic sector
Kolkata, Aug 25: Fast moving consumer goods major Emami Ltd is planning to cash in on the latest fad in the aurvedic sector overseas by setting up spas and clinics in joint venture with companies specialising in herbal spas.
The company would shortly appoint a consultant for preparing a foolproof plan for foray in the sector, chairman R S Agarwal told reporters here today.
''Emami has already initiated talks with some companies specialising in herbal spas in Thailand, Indonesia and the UK for the venture, which is expected to be operational in a year's time,'' Mr Agarwal said.
The company had already purchased over 10,000 square foot area in Dubai for setting up aurvedic spas and started negotiating with some of the companies in that country for a joint venture. The aurvedic clinics would be set up in over 3000 square foot area.
Mr Agarwal said the company would enter the growing hair dye market shortly.
Meanwhile, the company has decided to make its Boroplus range a global brand and a consultant would be appointed shortly for the purpose. ''We will spend Rs 30 crores in a phased manner for making Boroplus a global brand,'' he said. The company is eyeing export markets in CIS and Africa for the Boroplus brand.
Emami's export turnover stands at Rs 40 crore now.
Emami has earmarked Rs 100 crore this year for capital expenditure on brand building and developing of new products.
Emami would be a Rs 600 crore company following the merger of JV Marketing with itself and 35 per cent growth in turnover over Rs 301 crore last fiscal, the chairman added.