Financial Daily from THE HINDU group of publications
Wednesday, May 24, 2006
Financial Daily from THE HINDU group of publications Wednesday, May 24, 2006 |
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Marketing
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Strategy Grover plans low-priced wines K. Giriprakash
Bangalore , May 23 The fledgling wine industry in the country is set to witness some competition with the third largest wine maker in the country, Grover Vineyards all set to launch two low-priced wines later this year. The Grover Vineyards Vice-President, Mr Abhay Kewadkar, told Business Line that these low-priced wines are aimed at first time buyers. "We want to expand our customer base and want younger people to acquire a taste of our products," he said. He said Chenin Blanc white wine and Shiraz red wine will be launched in September. Chenin Blanc is priced at Rs 300 while Shiraz is priced at Rs 200 for a 750 ml bottle. The company expects to sell a total of 1.5 lakh bottles of these two wines during the first full year of their launch. On the issue of finding an equity partner for its company, Mr Kewadkar said the company has already identified two investors. "We should be able to take a decision on finalising an equity partner in a couple of months," he said. Mr Kewadkar said there has been no talks with the MphasiS' Chairman and CEO, Mr Jerry Rao, for stake in the company.
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