MonaVie, a
U.S.-based health and wellness product company, plans to launch its operations
in India in May. Randy Larsen, Founder and President (Asia Pacific and Latin
America) of MonaVie, told presspersons here on Saturday that the seven-year-old
company had presence is several countries. In 18 months, it expected India to
emerge as its leading market. The company would launch India operations with
five core products and with offices in 10 centres and 100 distribution centres.
The
company had spoken to about five manufacturers, mainly in Kerala and Karnataka,
and would have two or three manufacturing partners in the country when it
started operations here. This would be for wellness and personal care products.
“By the
end of 12 months, the company is looking at 30 million dollars to 50 million
dollars sales in India,” he said.
With a
strong base in the American market, the company looked at India as its next big
investment destination. Its health and wellness solutions were expected to gain
a principal position in the Indian market. It would have a network of
distributors and customers to market its products. MonaVie would start with
operations mainly in Kerala, Rajasthan, Tamil Nadu, Andhra Pradesh and Delhi
markets.
Source:
http://www.thehindu.com/todays-paper/tp-national/tp-tamilnadu/article2867492.ece
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