FMCG market in India is yet to be monopolised and that¡¯s the reason consumers around the country enjoy attention from several brands at a time.?
ITC, GlaxoSmith, Pidilite, Amul, Godrej and the likes are ruling the marketplace, at least that¡¯s what we¡¯d like to believe. But there¡¯s another brand that¡¯s growing in leaps and bounds.
In the past five years, ITC¡¯s assets have grown 72% to INR 24,000 crore in tandem with its growth plans, but in 2015-2016 Patanjali grew more than 150%, hurting almost every competitor in the market.
Patanjali.com
It goes without saying that over the years, Patanjali has adapted quite well to the market and has equaled itself among the commercial giants.?
About a decade ago, Baba Ramdev along with his long time trusted aid, Acharya Balakrishna, established Patanjali. Today, Patanjali manufactures more than 500 different products, not to forget its new venture ¡ª the swadeshi jeans.
Patanjali is now a household name and also India¡¯s fastest growing FMCG brand. It is now valued at $450 million and is earning revenues of $740 million. And while a lot of us think that it is Baba Ramdev who¡¯s making the big bucks, it is, in fact, Acharya Balakrishna who owns as much as 94% of Patanjali.
patanjali.com
The 44-year-old Balakrishna has now joined the club of India¡¯s richest with his wealth amounting to an astounding Rs 25,600 crore.?
His name has also been added to the prestigious list of Hurun India Rich List 2016, with the likes of Dabur's Anand Burman and Britannia's Nusli Wadia.
Balakrishna now owns India¡¯s fifth largest FMCG company ahead of traditional players like Dabur and Godrej. According to him, it¡¯s the practice of defying conventional marketing practices that has given the brand a place among the big names.
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"We are expanding our reach through tempos which can go deeper into rural markets. We will begin with 500-600 tempos and will gradually expand the network," said Balkrishna.
He believes it¡¯s the hard work that enabled Patanjali Ayurveda to become a Rs. 5,000 crore company within a short span of time.
Also read-?Ramdev's FMCG Business, Patanjali All Set To Scale $1 Billion In Sales