Nascens Enterprises, makers of Planta Specialty Tea and Herbalist range of products has tied up the German retail giant Metro Cash & Carry to tap into growing wholesale business of grocery and gourmet category.
“We are thrilled to partner with Metro and showcase our products at the leading Cash & Carry wholesale retailer of the country”, said VP New Initiatives, Neeraj Thakur.
“We have entered into this partnership to deepen our reach to potential business customers as Metro allows us to reach small time retailer with their vast customer base,” he further added.
This tie up will facilitate the penetration of Nascens’ flagship brand for tea Planta and its nature inspired wellness product brand Herbalist. A select range of Herbalist products will be available at Metro from immediate effect.
Director, Nascens Enterprises, Pankaj Sharma said, “In continuation of our urban markets expansion strategy, this is our first major tie-up with an international retail brand in India. We hope to further deepen this partnership in future by offering our future range of products too.”
With wholesale retail at the threshold of exponential growth in India, Metro will extend its presence in existing and newer markets by further deepening its reach of customers.
Nascens Enterprises operates in the specialty tea and wellness segment in India which has grown at a CAGR of 20+ per cent over the past three years. The segment has been growing at 2.5 times nominal GDP growth, compared to overall FMCG market which is growing at 1.2 times nominal GDP growth according to an industry report. Owing to changing lifestyle, health consciousness and rising per-capita income, the nature inspired wellness product manufactures in India stand to gain more market share.