Modicare eyes Rs 200-cr sales by FY11; enters F&B segment

Direct selling company Modicare has entered into the food and beverages segment and aims to double its sales to Rs 200 crore by the next fiscal on the back of its newly-launched products. The company, which launched 30 products under the personal and home care categories, also introduced 'Fruit of the Earth Premium Tea', marking its entry into the food and beverage (F&B) segment. Modicare is targeting sales of Rs 130 crore this fiscal, marking an increase of 30 per cent growth over last year. Besides, the company said it is planning to introduce a children's supplement by the end of this year and fruit concentrates by 2010 under its F&B category. "We will launch more wellness products soon and are also mulling at bringing out a Ginseng herb-based product," Modicare Vice President (Marketing) Manisha Amol said. Among the products launched by the company are car wash solution, multi-purpose cleaning liquid, toothpaste, coconut oil, cosmetics and disposable razors. Modicare is a Rs 100 crore company with 34 centres across India which supply products to over 2,600 cities.