The textile portfolio will have products ranging from kidswear to yogawear and sportswear. It will also have ladieswear and gentswear along with accessories and footwear.
Baba Ramdev-promoted Patanjali Group is planning to roll out its textile portfolio in the Indian market by November 2018 – around Diwali. "We have started working on the textile front – Patanjali Paridhan – on a larger scale. We will launch the products either this year around Diwali or positively by January 2019," Ramdev has said.
Ramdev said the textile portfolio will have around 3,000 products ranging from kidswear to yogawear and sportswear.
"It will have ladieswear and gentswear, and along with that will also come accessories and footwear." Aiming to expand its footprint in the country's FMCG sector, Baba Ramdev-promoted Patanjali launched its e-commerce platform under the tagline "Haridwar to har dwar" (Haridwar to every door step online).
The company has also announced its partnership with leading e-retailers and aggregators to authorise online sales of its products which include Paytm Mall, BigBasket, Flipkart, Amazon India, Grofers, Amazon India, netmeds, 1mg and Shopclues, among others. Launching the e-commerce platform "www.patanjaliayurved.net", Ramdev added that online sales have yielded good dividend that helped the company's sales cross the Rs 10 crore mark in December 2017.
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After positioning himself and his company Patanjali Ayurveda as "anti-multinational," Baba Ramdev is open to receiving funds from French luxury brand LVMH Moet Hennessy-Louis Vuitton for the "benefit of the country."
Ravi Thakran, managing partner of L Catterton Asia, a private equity fund co-owned by LMVH, in media reports, said that Patanjali has been a disruptor in its categories and that it has taken Indian-ness and celebrated it.
Thakran believes that Patanjali Ayurved could take its products to Europe, US, Japan, China and South Korea, and that L Catterton could help in that endeavor.
"I know his model is not to work with multinationals and with foreign money," Thakran added.
LMVH's offer comes after Patanjali Ayurveda signaled its willingness to raise funds from foreign sources to expand its business across India.
The company has, however, indicated that it will not entertain foreign entities seeking stakes in the company, but would instead take the foreign money in the form of a loan, if they come with lower interest rates than offered by Indian financial institutions.
"Acharya Balkrishna (Managing Director of Patanjali) has said that just as we use foreign technology for our development, we do not hesitate to use foreign funds for the benefit of our country, but we will take it on our own terms, will not give share/ stake," SK Gupta Tijarawala, Patanjali spokesperson, conveyed on Twitter.
LMVH said it is ready to put US$ 500 million, which is half of its remaining Asia fund, into Patanjali. Patanjali Ayurveda has set a target turnover of US$ 3 billion in the next two years, for which the company is expanding its business in new segments, like textile and food processing.
According to Patanjali Ayurveda, it needs close to US$ 800 million to set up plants in Nagpur, Greater Noida, Assam, Chhattisgarh, Andhra Pradesh, Telangana, Haryana and Rajasthan and for the cultivation of aromatic and herbal plants on 10,100 acres of land.