From a $16.2 billion auto and aerospace group Mahindra & Mahindra is all set to taste new waters by retailing fruits and more precisely, branded fruits. Now that’s something interesting!
M&M will be launching a fruit brand Sabaro early November this year and will be retailing through chains including Godrej’s Nature Basket, Heritage Foods and Reliance Fresh (still in talks). The first product to enter this will be apples which will be sourced from Kinnaur in Himachal Pradesh, graded and sorted in 15 outlets in Hyderabad early next month. This will be followed by grapes, bananas and mangoes. Some of the products will also be imported.
For the new category, M&M is working with nearly 1,000 farmers in Sangli and Latur for grapes, 50 farmers in Kinnaur, Himachal for apples, 100 farmers in Gujarat, near Surat and Bahraich in Lucknow and Akluj in Maharashtra for bananas, reports Economic Times.
The products will be reaching out pan-India through major cities and mini metros in a span of one year. M&M will target nearly 200 organised retail stores and aim that turnover will increase from Rs 100 crore to Rs 300 crore in the next three years. What’s more, soon the products could be bought online through various retailers’ online stores.
Alongside, M&M will also set up sustainable business model that includes the entire agri value chain.
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