Danone looks to double India sales in 3 years
29 November 2012
French group Danone, which bought Wockhardt's nutrition business early this year, plans to double its India sales over the next three years, as the market for nutrition business expands in Asia's third biggest economy.
Danone, which has shifted focus to emerging markets after the European market reached saturation point, acquired Wockhardt's various nutrition brands such as Farex, Protinex, Dexolac and Nusobee, for about $355 million (about Rs1,280 crore), early this year.
"India's growth in nutrition sector will outpace China's," Laurent Marcel, managing director of Danone's India nutrition business unit, said. "We are here to expand, grow the business."
"It is typically the kind where the market grows at 15-20 per cent annually. We should grow faster than the market. We should be able to double our business in three to four years,'' he added.
Danone currently holds an 8 per cent share in India's baby nutrition market, which is valued about Rs2,500 crore, he said.
Danone, the world's top yogurt maker, will now be pitted against Swiss food giant Nestle which now holds sway in India's emerging market for branded nutrition products.