Mumbai ( Source : TimesnowNews).Yoga guru Baba Ramdev-backed Patanjali Ayurved now has competition from another spiritual guru – Sri Sri Ravi Shankar. According to media reports, Sri Sri has planned to push the brand aggressively.
“We are launching an exclusive franchise model to open Sri Sri Tattva brand stores that will serve as one-stop shops for consumers looking for authentic, high-quality products in the Ayurveda and herbal health as well as wellness space across categories,” Tej Katpitia, CEO, Sri Sri Tattva, told the Hindu BusinessLine.
Art of Living Foundation’s FMCG arm, Sri Sri Tattva is all set to take the FMCG industry by storm with the launch of about 1,000 retail stores in the next two years pan-India.
“This is the first time we have decided to launch standardised formats, which have been carefully designed to offer an exclusive experience to our consumers,” he told the newspaper.
Ramdev’s Patanjali Ayurved Ltd is preparing to launch its ‘swadeshi” line of clothes for men, women and children by April next year.
The multi-crore consumer goods empire set up by Baba Ramdev plans to adopt a franchise model to sell its clothing line.
According to ET Now,other than using its wide network of Patanjali stores, Acharya Balkrishna, the managing director of Patanjali, has said the products would be sold at other retail outlets across the country, including Kishore Biyani-led Future Group’s Big Bazaar with whom they have a tie-up.The company is targeting at least Rs 5,000-crore revenue in the first year of its operation.
Patanjali is entering a market projected to grow over 9 per cent every year till 2022 from about Rs 2 lakh crore in 2012, according to a 2013 report by retail consulting firm Technopak.
Sri Sri Tattva has already been selling health drinks like Ojasvita, natural juices, pulses, health supplements, soaps, fragrances and spices through its retail stores and online. Sri Sri Tattva also retails apparels on its website www.srisritattva.com.Sri Sri Tattva (formerly known as Sri Sri Ayurveda) started in 2003 with health supplements and Ayurvedic medicines. Over time, it has expanded to personal care, food and staples, and home care products.
Earlier Hemal Ashar of Mid Day , wrote an article – “Is Sri Sri Ravi Shankar Planning To Compete With Baba Ramdev On The Retail Market?” when Art Of Living Guru Sri Sri Ravi Shankar launched Malt Drink And signed Badminton ace PV Sindhu as its Brand Ambassador.
(Illustration with this item courtesy Mid Day .)