Satnam Overseas has announced plans to expand into the spices market. The group will launch a wide range of spices retailing under the Kohinoor brand. The range will be distributed at home and on foreign markets.
According to joint managing director Gurnam Arora, Satnam is also preparing to launch a new range of ready-to-eat vegetables. He was speaking on the occasion of the launch of the Kohinoor Club, a loyalty programme open to all Indian retailers. The programme is being launched simultaneously in 11 major cities and has at its heart a desire to improve communication with the company’s business associates, distributors, dealers and retailers. Members will be offered certain trading privileges.
Satnam enjoys a 29% share of the branded basmati rice market, estimated at Rs450 crore (US$932,500). To support the new products, the group plans to invest Rs3 crores to overhaul plant and equipment to up capacity. Satnam has set itself an amibitious sales target of Rs350 crores for the year in progress. Some Rs230 crores is forecast to derive from exports.