Chennai: Cholayil Group, maker of ayurvedic soap Medimix, is looking to offer more products under the brand besides aiming for market expansion, including exports, as it eyes sales of Rs 200 crore from the label by 2018-19.
“In coming years, between 2016 to 2019, we will focus on developing new products and enhance distribution network in the north and east markets,” Cholayil Chairman & Managing Director Pradeep Cholayil told PTI.
Sharing the company’s target, he said: “We are planning to reach around Rs 200 crore in 2018.”
Currently, the Cholayil group has sales of Rs 150 crore from Medimix soaps, to which western states contributed around 36 per cent.
Besides soap, Cholayil has launched facewash, bodywash and prickly heat powder under the Medimix brand.
On the exports front, the group had recently forayed into the US market and is betting big on the market to expand sales from overseas market, which contributes 25 per cent to its total.
“We are now expecting a higher business volume from the US market. We are looking to have 40 per cent sales from exports in the next three years,” Cholayil added.
The Middle-East is the largest market for Medimix, which has also presence in South-East Asia and is planning to enter Japan, he added.
Medimix brand is owned by two groups – Cholayil and the AVA Group, as per the family agreements in 2006. Cholayil has distribution rights for north, east and west Regions, along with global markets while AVA has rights in the southern market, including Kerala and Karnataka.