India: Usha Shriram begins FMCG push with bottled water

Usha Shriram, an Indian company primarily known for its household hardware and appliances, has announced its entry into the FMCG sector through the launch of bottled drinking water brand Aquaero.

The company intends to use the brand as a launchpad for a wider product portfolio including atta, maida and besan flours, pulses, spices, oil and ghee under the Usha Shriram brand. For Aquaero, Usha Shriram has earmarked approximately INR 30 crore ($3.41 million), of which approximately 9 crore ($1.02 million) has already been spent on plant setup, branding and product launch.

Commenting on the launch, Usha Shriram COO Satnam Singh Sandhu said: “Aquaero marks our third brand and our foray into FMCG. This space holds immense potential and we see Aquaero playing a strong role in tapping that opportunity”.

“We are confident of reaching Rs 1,000 crore in the next two years”, he added. “Once we achieve that revenue threshold, we will look at an IPO”.

The complete product lineup is expected to be introduced within the next two years, backed by an investment of 300 crore INR ($34.06 million)

Source: Indian Retailer