Home Latest News Growth of the cards: CavinKare restructures business under its 2.0 initiative

Growth of the cards: CavinKare restructures business under its 2.0 initiative

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Recently FMCG giant, CavinKare has openly expressed that they are eyeing revenue of Rs. 5,000 crores and is restructuring business under its 2.0 initiative to garner this growth in the next
three years. The Chennai-based company has presence in segments such as dairy, salons and hospitals for animals.

Growth of the cards: CavinKare restructures business under its 2.0 initiative

“We’d like to bring in a new structure, a high growth-oriented structure which defines CavinKare 2.0. It has to bring in innovation, e-commerce by combining the synergies across
multiple divisons,” C K Ranganathan, Chairman, CavinKare mentioned.

He further said, ” We’re waiting for a clean run. We’re not doing it (restructuring of business) for the IPO. We need to aggressively grow to the size (of Rs 5,000 crore revenue) if we are going to
(capital) the market. “While the targeted revenue was Rs 5,000 crore in the next three years, he said the company made Rs 1,700 crore last year. He said the thrust would be on e-commerce and innovation. Director of the company Venkatesh Vijayaraghavan would also be the chief executive officer of
the FMCG vertical and Amudhavalli Ranganathan is appointed as director and CEO (new initiatives) and Manuranjith Ranganathan would be director-CEO (retail).