After successfully establishing its footprint in the food, healthcare, toiletries and cosmetics divisions; Baba Ramdev’s Patanjali Ayurved Ltd.is all set to venture into the clothing sector.
ndian yoga guru Baba Ramdev’s Patanjali Ayurved Ltd is gearing up to launch an indigenous line of apparel, including denims, for men, women and children. The apparel line will be available across 250 exclusive retail outlets by April 2018 with an initial annual sales target of Rs 5,000 crore, his spokesman SK Tijarawala told a popular Indian business daily.
Patanjali group will make a big venture in textile manufacturing sector and apart of traditional kurta-pajama, it will come out with foreign wears like jeans, Ramdev had said at the inaugural function of the two-day Global Investors’ Summit in Indore last year.
Patanjali has already teamed up with a few hundred handloom weavers in northern India and plans to set up its own manufacturing units, said Tijarawala.
Ramdev’s Patanjali has made him the 25th richest person in India with Rs. 25,600 crore of wealth. With this launch, Patanjali is all set to venture into a market that is projected to grow over 9% every year till 2022 from about Rs 2 trillion in 2012, according to a 2013 report by retail consulting firm Technopak.
The Haridwar-based FMCG firm had clocked a turnover of Rs 10,561 crore in the financial year ended March 31, 2017.
