Borges, a famous Spain-based FMCG player has ventured into the Indian market and aims to turn into a Rs. 100 crore firm in India in the next 3-4 years. The company has announced to invest Rs. 60 crore for marketing its products till 2013.
The entry of Borges has brought its special olive oil in the Indian market. On the other hand, announced by Rajneesh Bhasin, Managing Director, Borges India, the company will introduce other products of its kinds like pop corn, table olive, vinegars and dry fruits later this year.
“India and China are the next big opportunities which Borges is looking into. The Asia-Pacific region is a huge growth engine for the company and India will be a big focus market for us,” Borges’ MD confirmed.
The company is looking to capture the 20 per cent share of the estimated 4,500 tonnes of Indian olive market within the next 3-4 year. This market is presently dominated by the domestic players like NatureFresh Oliante Olive Oil, Leonardo Olive Oil and Del Monte.
Rajneesh Bhasin also claimed that Borges India has already joined hand with several modern retail chains such as Big Bazaar, Hypercity, Metro and Godrej Nature’s Basket and all these outlets will have the Borges merchandise available within 2 weeks from now. He also clarified on the expansion plan saying that the initial phase will have in the six metros, whereas the completion of 1 year will count the presence of Borges in over 36 cities and towns. Presently, the company will source its products from Spain but later has a plan to build up plantation in India.
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