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Tuesday, Jul 09, 2002

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Modicare plans to extend product portfolio

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MODICARE has proposed to introduce a chain of new products in the home and laundry-care segments. The company, which has 180 items under its wings, is also working on ways to enter select markets in the SAARC region.

The company has eyed an all-round expansion in the current fiscal, said Mr Nitin Ghadiyar, CEO, covering aspects such as widening of its consultant network to support an extended product portfolio.

Modicare, which has seen a compounded growth of over 50 per cent, also expects to consolidate its existing base and sustain its growth rate. The current consultant base is around 7,00,000, ensconced in more than 50 centres in the country

The company, which has recorded a turnover of around Rs 180 crore in the previous fiscal, has further decided to push a number of initiatives in such areas as consumer education and empowerment. A year-long programme, featuring meetings and other forms of interaction, has been chalked out, it is pointed out.

Some of the markets in the SAARC region, marked as they are with a growing consumer population, look promising to the company, Mr Ghadiyar said.

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