Ramdev forays into another venture
Baba Ramdev-led Patanjali Ayurved forayed into the fast growing branded apparel segment through its brand ‘Paridhan’ and expects a sale of around Rs1,000 crore next fiscal.
The Haridwar-based firm plans to open around 100 outlets of Paridhan by the end of this fiscal and have a network of around 500 stores by March 2020, mostly on franchise model.
It has introduced three brands — Livfit, Aastha and Sanskar— targeting customers across all age groups.
The Haridwar-based firm is touting the store as a one-stop solution for everyone and is offer 25% discount on all items for the first five days of its opening – Dhanteras to Bhaiya Dooj – festivities around Diwali.
With more than 35000 SKUs, the store has men’s wear, women’s wear, kids’ wear, denim ethnic wear, inner wear and accessories, the company said in a statement. Consumers can buy a-Rs 5000 worth denim (at other branded outlets) for Rs 500 and Rs 2500 (at other branded outlets) shirt Rs 500, the statement added.
Patanjali recently into the dairy products like cow milk, curd, buttermilk and cheese, and expects the category to generate around Rs 1,000 crore revenue by 2020.
Apart from dairy products, the company is also foraying into frozen vegetables like peas, sweet corn, mixed vegetables and French fries that will compete directly with giants like McCain. The Ayurveda company also launched other raft of other products including urea-free cattle feed, packaged drinking water Divya Jal and solar panel production.
For a company that started as a small pharmacy in 1997, Patanjali has launched more than two dozen mainstream FMCG products —from toothpaste, shampoos and other personal care products to modern convenience foods such as cornflakes and instant noodles. Its annual sales have doubled every year since 2013 to touch Rs 10,500 crore.
However, Patanjali Ayurved’s growth faltered during the past 12 months as rivals, mostly multinationals, launched natural and herbal products to counter the challenge of the Baba Ramdev-led enterprise. Patanjali’s sales volumes grew 7% during October-March 2018 and 22% in April-September 2017, according to data from Kantar Worldpanel, a global consumer research firm. That’s a sharp fall from 52% growth in October-March 2017 and 49% during April-September 2016.