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Mumbai firm forays into NE skincare market
GUWAHATI: Bhandari Group of Companies on Tuesday forayed into the FMCG (fast moving consumer goods) market of the Northeast with the launch of skincare products under Lashika, a concept the firm claims to have conceived from Canada.
Formed in 2002, the Mumbai-headquartered group, which is eyeing a turnover of Rs 2000 crore by 2025, has other verticals such as livestock feed, education, real estate, pharma and healthcare as well.
“We have come out with products which are free from harmful chemicals with three years of research conducted before the market launch. The key natural ingredients of the body and face care products are sourced from Canada. These are premium skincare products priced at semi premium rates to suit the Northeast market as consumers here prefer quality products,” Adarsh Kochar, president (pharma and product research) told reporters here on Tuesday.
The company has set up manufacturing units in Chandigarh and Nasik for its FMCG business.
“We also intend to create more jobs having already appointed beauty advisors in premium outlets of Guwahati where we are currently focusing before we move to cities such as Shillong and other cities and towns of Assam and Northeast,” Satyajit Roy, vice president (sales), cosmetic division, said.
The Indian cosmetics industry is expected to reach $25 billion by 2025. Bhandari Group has thus enhanced its portfolio and forayed into the FMCG segment. The company has already forayed in the poultry feed sector of the Northeast.
For the other verticals, the group has manufacturing facilities in West Bengal, Jharkhand and Bihar and is also set to establish another manufacturing base in Chhattisgarh soon.