The BSE-listed food processing exporter Himalaya International announced its foray into domestic market through tie-ups with prominent retail players like Reliance and Bharti-Wal-Mart.
NEW DELHI: The BSE-listed food processing exporter Himalaya International on Wednesday announced its foray into domestic market through tie-ups with prominent retail players like Reliance and Bharti-Wal-Mart.
Launching its products under the brand Himalaya Fresh, the company announced an initial investment of Rs 150 crore to set up a facility in Gujarat to make milk-based products.
"Having established itself as one of the top quality exporter for food products to the US for the past 12 years, Himalaya International is now entering the domestic market under the brand Himalaya Fresh with strategic tie-ups with all major players in retail chains," company's Chairman Manmohan Malik said in a statement.
Himalaya has tied up with Reliance, More, Wal-Mart and Bharti-Wal-Mart, he added.
"The company has signed two separate agreements with Bharti-Wal-Mart and the US retail giant Wal-Mart for selling its product and undertake cash-and-carry operations in a wide range of products at wholesale prices," Malik said.
While Bharti-Wal-Mart will handle the retail business through their mini, major and mega format stores, Wal-Mart will look after business-to-business operations including supply-to-retail, grocery set ups, hotels, restaurants and other catering joints.
"The products will be sold in nine Bharti-Wal-Mart stores in major cities like Chandigarh, Patiala, Ludhiana, Amritsar and Jalandhar," Malik said, adding that the range will be introduced in all 100 Bharti-Wal-Mart stores to be opened across the country by December next year.
The company is targeting a business transaction of worth Rs 25 crore through the Bharti-Wal-Mart stores during the current fiscal, he said.
Initially, the company will introduce milk products like yogurts, paneer, Italian cheese, bread, frozen apetizers, mushroom products and packaged sweets, said Malik.
The company is also planning to set up milk-based units at Mehsana in Gujarat at an initial investment of Rs 150 crore, he said.
"The supply to southern and western Indian retail stores will be ensured through its Gujarat units to reduce transportation costs and ensure timely fresh supply in the retail outlets," Malik added.
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