Health and wellness products brand MonaVie plans to set up its
own manufacturing facility in Chennai. “We are in the process of identifying
the location, which will more probably be at Sriperumbudur,” said Mr Raj
Lingam, President (South Asia), MonaVie. According to him, it could be through
a joint venture and would involve an investment of Rs 100 crore.
Mr Lingam said the market here is quite promising and “we are
confident of setting up a facility as soon as we scale up our operations here”.
MonaVie, a Jordan-based global brand, is a direct marketing company with
presence in 23 countries with its largest base in the US. Its current India
business is “on the verge of crossing Rs 100 crore”.
He said to expand its business in India, it has taken a
conscious decision to customise and localise the product offerings to suit the
Indian palate.
“We are collaborating with local food technologists, experts to
explore new possibilities,” said Mr D. Guna, Managing Director, MonaVie India.
The company’s product portfolio includes protein powder, health
juices, energy blends, weight-loss solutions. Currently, it outsources some of
its products to local manufacturers in India.
Elaborating on the product it launched today, RVL Protein
powder, Mr Guna said, contains high protein and does not contain cholesterol
and lactose. Besides admissible levels of chromium and zinc (which helps in
maintaining blood sugar levels), it contains low fat to refuel the body muscles
and to provide energy.
Source: http://www.thehindubusinessline.com/industry-and-economy/marketing/article3653905.ece?homepage=true&ref=wl_home
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