To focus on Maharashtra, Kerala and Tamil Nadu markets
Jivo Wellness on Friday said it was aiming for Rs.100 crore sales over the next two years from its ‘Jivo' canola edible oil brand.
The company, which has tied up with Canada-based Richardson Oilseed Ltd. for sourcing canola oil, opened its second bottling plant in the capital.
“We plan to expand our presence beyond North India and now plan to focus on Maharashtra, Kerala and Tamil Nadu markets where we will enter soon. Our target is to achieve a turnover of Rs.100 crore by 2012 and become Rs.500-crore brand in the next five years. We aim to capture a 10 per cent share of the Indian packaged branded edible oil by 2015,” Jivo Wellness Director R. P. S. Kohli said after opening of the new plant.
The Rs.2-crore Delhi plant has a production capacity of 50,000 litres a month, while the company also plans to set up a crushing-cum-refining facility at Sangrur in Punjab with an investment of Rs.45 crore. The company is now sourcing canola oil from Canada. At present, Jivo canola oil is only sold in Delhi, Punjab and some parts of Haryana, Rajasthan and Uttar Pradesh within the range of Rs.150 to Rs.675.