The Hindu Business Line : Win Medicare to market Nature's Bounty products

THE interest in the diet supplements market seems to be on the rise with the Rs 1,100-crore Umesh Modi Group launching products from the Nature's Bounty stable in India.

The New York-headquartered company will bring into the country 15 products that include vitamins, minerals, herbal and protein supplements for the joints, heart and skin.

The Modi Group has entered into a licensing agreement with the Rs 6,800-crore US-based health supplement manufacturer NBTY, formerly known as Nature's Bounty.

"We will exclusively market and distribute Nature's Bounty product range under the aegis of Win Medicare Ltd, a subsidiary of Modi-Mundipharma," said Mr Umesh K Modi, Chairman of the Modi Group. "We hope to do business worth Rs 50 crore in the first 3-4 years," he added.

Initially, Win-Medicare will be marketing these products through 100 stores in Delhi, Mumbai, Bangalore, Chennai and Hyderabad. Nature's Bounty would have a pan-India presence in two years, Mr Modi added. He said that there are no immediate plans to set up exclusive stores. Also, the company may consider manufacturing the food supplements in India.

Mr Chanchal K. Chadha, Vice-President, International Sales and Marketing, NBTY, said, "With the Indian market set to grow and consumer health consciousness increasing by the day, we firmly believe that this is the appropriate time to enter the market."

According to the company, the current size of the Indian health supplement market is estimated at $225 million and is expected to cross the $1-billion mark by April.

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