The Hindu Business Line : Adani Wilmar ties up with Gulf retail chain

Ahmedabad, Aug. 16 Adani Wilmar Ltd (AWL), a constituent of the Rs 18,000-crore Adani Group, has tied up with a Gulf retail chain for supply of edible and hair oil, a company official said.

AWL, a 50:50 joint venture between the Adani Enterprise Ltd and the Singapore-based Wilmar International, had in December 2006 launched pure coconut oil under the brand Fortune Naturelle, packed at Tirupati in Andhra Pradesh. By April 2007, it had penetrated all the States and captured four per cent market share. It had also begun exports to Kuwait and Oman.

This month, it has entered into an agreement with the Lal’s Supermarket chain, which has nearly 50 outlets in the countries of Gulf Cooperation Council (GCC). “We are supplying our oil to the retail chain under their own brand, “Daily Fresh”. We are also supplying our Fortune brand edible oil, while they are working as our distributors in West Asia,” a senior company official told Business Line here.

AWL has initially received orders to supply about 300 cartons of coconut oil by September-end.

The company, which manufactures edible oils under Fortune brand — sunflower, soyabean and groundnut (pure and refine categories) — is aiming to capture at least 10 per cent, or 15,000 tonnes per annum of market share in India by 2010.

AWL’s turnover in 2006-07 was Rs 2,700 crore. It had roped in Bollywood actor Irrfan Khan as its brand ambassador for coconut oil. The country produces nearly four lakh tonnes of coconut oil annually, of which 2.5 lakh tonnes are used as edible and the balance as hair oil.

According to IMRB, Fortune, launched nearly seven years ago, has penetrated nearly two crore Indian households as the largest brand in its category. The annual consumption of edible oil in India is about 112 lakh tonnes, 40 per cent of which, is branded. While the growth rate in consumption of edible oil is about eight per cent, in packed oil its is 22 per cent.

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