Gemini Edibles enters Tamil Nadu with ‘Be-Rite’ brand
Gemini Edibles and Fats India (GEF India) launched its Be-Rite brand products in Chennai, exclusively for the Tamil Nadu market. With a 21.7% market share in sunflower oil, GEF India aims to gain a 10-15% market share in the next five years. The company has a turnover of Rs 9,000 cr plus (FY23-24) and plans to focus on urban markets for the next five months before expanding to the rest of TN. Other variants like groundnut oil, gingelly oil, and rice bran oil will be launched after setting up the retail distribution network.
CHENNAI: Gemini Edibles and Fats India (GEF India) launched its products under the brand name Be-Rite, exclusively for the TN market, in Chennai on Thursday.
High-quality Be-Rite brand products from GEF India will be available in all retail shops and supermarkets in urban TN, from now on.
GEF India, with a 21.7 per cent market share in Sunflower oil, is into trading, processing, manufacturing and marketing of edible oils and specialty fats for different types of food industry.
P Chandra Shekhara Reddy, SVP, sales and marketing, GEF India, said, “Though the industry has been growing at a rate of 2.5 per cent to 3 per cent, we have been growing at a CAGR of 11.6 per cent over the last five years. This entry into TN market will act as a catalyst for our further growth. Sunflower oil constitutes up to 42 per cent share in edible oil category in TN, with 83 per cent house hold penetration.”
TN is one of the major sunflower oil consuming markets, he said, adding “GEF India has a turnover of Rs 9,000 cr plus (FY23-24). In next five years, our focus would be on gaining a market share of 10-15 per cent.”
The location of its manufacturing facilities in Andhra Pradesh would help in catering to the needs of the TN market. The oil major plans to focus on the urban markets.
for the next five months before rolling out the products to the rest of TN.
Other variants like groundnut oil, gingelly oil and rice bran would be launched, after setting up the retail distribution network.
Source Link : https://www.dtnext.in/news/tamilnadu/gemini-edibles-enters-tamil-nadu-with-be-rite-brand-794388
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