Yoga Guru Baba Ramdev is coming to beckon you with his company's stylish 'Swadeshi' apparel.
After successfully establishing its footprint in the food, healthcare, toiletries and cosmetics divisions; Baba Ramdev's Patanjali Ayurved Ltd. is all set to venture into the clothing sector.
It is gearing up to launch its own line of apparel for men, women and children by April next year.
As revealed by its spokesperson S.K. Tijarawala, Patanjali will be launching its line of 'Swadeshi' apparel, with an initial sales target of Rs. 5, 000 crore,
Through this new venture, the company aims to bring good quality of clothes to the masses, including knitwear and denims. While the official brand name of the line is yet to be revealed, Tijarawala said 'Paridhan' (apparel) is being considered, adding that there could be a possibility of multiple brands being launched.
Developing on the existing partnership between Patanjali and business tycoon Kishore Biyani's Future Group subsidiary, Big Bazaar, products from the new venture will be available across the latter's countrywide retail stores. Apart from this, Tijarawala revealed that the firm is looking to explore a partnership with the Khadi and Village Industries Commission (KVIC), to facilitate the sale of its products in KVIC outlets as well.
On the manufacturing front, Tijarawala said Patanjali's production units will be set up in various pockets in India, while refraining from disclosing the amount of investment undertaken for the same.
In the financial year ended March 31, 2017, Patanjali Ayurved reported an aggregate sale of Rs10,561, registering a five-fold growth since 2014-15, where the sales was capped at Rs. 2,006 crore. However, the company is envisioning a sales target of over Rs. 20,000 crore by March next year.
Ramdev's Patanjali, has made him the 25th richest person in India with Rs. 25,600 crore of wealth.
The FMCG venture, Patanjali, which Ramdev had introduced has expanded its market proving a threat to Multinational Corporation (MNC) and domestic FMCG giants.