India: Elitecon International to invest 700 crore INR in FMCG expansion

Elitecon International, the Indian fast-moving consumer goods (FMCG) company, has announced plans to invest 700 crore INR ($84 million) over the next five years to scale its operations. The capital expenditure is a core pillar of the firm’s “Vision 2030” strategy, which aims to increase annual revenue from its current 150 crore INR ($18 million) to 20,000 crore INR ($2.4 billion) by the 2029-30 financial year.

The investment will facilitate the expansion of the company beyond its current confectionery and snacks portfolio into staple categories such as pulses, spices, and dried fruits. According to the company, the funds will also support the launch of a premium tea and coffee range, alongside significant upgrades to manufacturing infrastructure and supply chain logistics.

To achieve its revenue targets, Elitecon International intends to double its distribution reach from 500,000 to 1 million retail outlets. Vipin Sharma, managing director of Elitecon International, commented: “Vision 2030 represents a pivotal moment in our company’s history. We are not just aiming for financial growth but are committed to becoming a household name synonymous with quality and trust”.

Source: ANI News / Innovacia / Business Standard / The Print