Manikchand Oxyrich mineral water, a part of the food and beverage division of Dhariwal Industries, will soon be available in South Africa and West Asia. The Rs 800 crore diversified company is planning to set up joint ventures or franchisee agreements for its operations overseas. The company, at a later stage, may also build its manufacturing facilities there.
“We would be taking Manikchand’s Oxyrich to countries in South Africa and West Asia. Initially, we will supply our brand to the trade and later start manufacturing in these countries. Currently, we are looking at forging joint ventures or becoming pure franchisees, and are ready to take our premium mineral water brand overseas,” said Dr Balajith Shetty, national project head, Manikchand Oxyrich.
Launched in 2003, Manikchand’s Oxyrich brand has created its USP as a 300 per cent oxygenated mineral water and commands a premium market price at Rs 15 for a litre. The company has applied for patents in almost 20 countries and is waiting to take Oxyrich to other countries.
In future, Manikchand’s Oxyrich could also get stretched into flavoured and sparkling water. The company is also planning to make a foray into health foods.
With a nine per cent volume share for its Oxyrich brand, the company is hoping to take it to 15 per cent by 2009.
According to the company, the packaged bottle drinking water business is estimated at Rs 1,800 crore, and is poised to grow to Rs 2,200 crore by 2010, at a rate of 40 per cent every year.
– Bengaluru Bureau