Emami to tap rural markets for growth
Fast moving consumer goods business Emami sees a large growth opportunity in rural markets and plans to double its rural coverage in the coming three years to tap into this opportunity.
Emami, which retails a wide range of brands in the beauty, personal care, and groceries segments, is focusing on making its products available in all corners of the country, ET Bureau reported. The business is prioritising cost control measures and volume-led growth this fiscal, planning to deal with rising raw materials’ prices by strategically increasing retail prices and optimising its operations.
“In a country as vast and as populous as India, the challenge is not as much in branding and manufacturing as much as in placing the product just where the consumer needs it,” said Emami’s managing director S K Goenka in the business’ 2022 annual report, the Press Trust of India reported. “We intend to double our rural coverage to 60,000 towns in 13 states in three years, broadbasing coverage and seeding locations with Emami products for the first time.”
The business also plans to invest in new product and brand launches to drive growth this financial year, ET Bureau reported. In addition to this, Emami will also further develop its core brands to boost their growth in sectors spanning beauty, personal care, and groceries.
Emami’s modern trade and e-commerce channels are also expected to drive growth in the 2023 financial year. The business plans to focus on sales through both its online business-to-business and direct-to-customer channels.
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