The Kishore-Biyani led Future Group on Friday tied up with Yoga guru Baba Ramdev’s Patanjali Ayurved to sell the latter’s products at the brick-and-mortar stores of the group’s retail outlets across the country. “Within the next 20 months, we will jointly do a business of Rs.1,000 crore”.
“We are looking at business worth Rs 1,000 crore with Patanjali in 20 months, said Future Group’s Kishore Biyani”. According to experts, this deal will give a boost to Patanjali’s upcoming new products like instant noodle “Patanjali Maggi”, toothpaste and other malted products. “We are jointly going to set up an office for collaboration in Rishikesh”. Future Group and Patanjali Ayurveda have food parks in Bangalore and Haridwar, respectively. Its focus on using the timeless and indigenous knowledge of herbs and medicines, coupled with technology-led, state-of-the-art processing facilities and offering these products at a great value for money, has helped Patanjali Ayurved become the country’s fastest growing FMCG company. “We just want swadeshi products to be as popular”, he said. “Hence, customers are benefited from it. We will partner Future Group in manufacturing also wherever possible”, Baba Ramdev told reporters.
With revenue of Rs. 2,500 crore, Patanjali’s valuation goes up to a whopping Rs 14,000 crore.
“We will launch Patanjali noodles all over India on October 15”. Maggi used to sell for Rs.25, we will offer it for Rs.15.
In June, Maggi noodles were taken off the shelves across India amid concerns over “dangerous levels” of lead and MSG.