Vicco eyes Rs 1,000 cr turnover by FY 2016; plans JV in Dubai
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Consumer goods producer Vicco Laboratories has said it is planning to more than double its topline to Rs 1,000 crore over the next five years and has chalked out a massive marketing and brand-building plan to achieve this; it is also planning a joint venture manufacturing facility in Dubai.
"Currently our revenue is over Rs 400 crore. But over the next five years, we see achieving a sales volume of over Rs 1,000 crore," Vicco General Manager for exports Palvankar P Y told PTI here on Sunday.
The Nagpur-based firm which manufactures Ayurveda-based dental and skin care products is also planning to introduce two-three products in the skin-care segment in a few months.
Vicco, which has factories at Nagpur, Thane and Goa, is also exploring a possibility of a joint venture unit in Dubai.
"We are encouraged by the growing awareness of consumers about the benefits of ayurvedic products in global markets. The Dubai facility has been planned mainly to cater to the Middle East and African markets. We want to increase our exports substantially over the next few years," he said.
"We want to be more competitive in the domestic market. We have already embarked on a massive marketing and brand-building campaign," he said.
At present, Vicco enjoys around 5 per cent share in the Rs 1,200-crore toothpaste and toothpowder market.
"But we hope to achieve at least 15-20 per cent market share by FY16. We are spending heavily on marketing and packaging," he said.
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