AWL, a 50:50 joint venture between Adani Enterprise Ltd and the Singapore-based Wilmar International, had launched Fortune Naturelle, a coconut oil brand, in December 2006. The brand captured four per cent market share.
Recently, the company had entered into an agreement with the Lal’s supermarket chain, which has about 50 outlets in the countries of Gulf Cooperation Council (GCC). The company will supply oil to Adani under the brand name Daily Fresh.
Adani manufactures edible oils under Fortune brand – sunflower, soyabean and groundnut (pure and refine categories) – and is aiming to capture at least 10 per cent, or 15,000 tonnes per annum, of market share in India by 2010.
AWL witnessed Rs 2,700 crore turnover last fiscal. It had roped in Bollywood actor Irrfan Khan as its brand ambassador for coconut oil. On the whole, India produces nearly four lakh tonnes of coconut oil annually, of which 2.5 lakh tonnes are used as edible and the balance as hair oil.