Financial Daily from THE HINDU group of publications
Wednesday, Dec 25, 2002
Financial Daily from THE HINDU group of publications Wednesday, Dec 25, 2002 |
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Marketing
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New Products & Services Herbalife plans more products, launches Aloe Plus Our Bureau
BANGALORE, Dec. 24 HERBALIFE International India plans to introduce a few new products during 2003, starting with a protein-based supplement in a couple of months. "We will have a 3-4 more products by the end of 2003. We are looking at some indigenously made biscuits too," Mr Manoj Shirodkar, Country Director, told a news conference. Started in 1999, the subsidiary of the US-based $1.7-billion Herbalife, the second biggest direct marketing company, is looking at a turnover of Rs 90-100 crore this year, he said. The company launched Aloe Plus, an India-specific herbal dietary capsule manufactured by contract in Pune. The product acts as an immune booster and is meant to improve bowel function and lower cholesterol and tryglicerides. It is said to be the first of its kind containing aloe in consumable form and inulin, an immunity enhancer. Priced at Rs 480 for a bottle of 60 capsules, Aloe Plus is the company's sixth product in India and the first to come out of the India unit. The supplement has huge potential in the country, Mr Shirodkar said. According to Mr Vikram Naharwar, Mumbai-based herbalist, the centre's recent proposal to treat herbal nutrition supplements as a separate segment during the next year will come as a major boost to that industry, whose domestic market is estimated at Rs 4,000 crore. The global market is an estimated $150 billion, growing at 7.5 per cent annually. Herbalife India currently markets its soy-based protein drink mix, a multivitamin, mineral and herb formulation; a cell-activator for absorption of vitamins; an activated fibre; and Dino Kids' Shake. On demand, the protein drink with mango flavour is being considered for export to Brazil, Mr Shirodkar said.
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