Elder Health Care has tied up with Shree Maruti Herbals to sell the latter’s herbal energy booster products and plans to launch more such items over the next two years.
Elder Healthcare, the FMCG arm of Elder Pharma Group, has started marketing of Shree Maruti Herbals’ flagship product ‘Stay ON’.
“EHCL has forayed into the fast growing Rs 150-crore herbal male energy booster market by virtue of a tie-up with Shree Maruti Herbals, herbal medicines maker,” the company said in a statement.
With the availability of the product across India, the company said that it is expecting to double the sales to Rs 15 crore by 2013-14 and to Rs 50 crore by 2014-15.
“Our strong marketing and distribution network is encouraging us to launch brands — own or in-licensed — at a rapid pace as the distribution and supply logistics are already in place,” Elder Health Care Managing Director Anuj Saxena said.
The herbal energy booster supplement market is growing at 15 per cent annually and the demand for the product mainly comes from males aged 25 and above across metros, it said.
“Going forward, EHCL plans to introduce newer products in the herbal energy booster segment within the next 12-24 months,” it added.
Other players in the sector include Dabur Shilajit, Baidyanath, Zydus Musli Vital and Musli Power.