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Provogue India is signing a joint venture deal with FMCG distributor JL Morison for the distribution of its body-care products
Apparel retailer Provogue India is all set to enter the fast-moving consumer goods (FMCG) market with its body-care products and will soon sign a joint venture agreement with FMCG distributor JL Morison (India) Ltd, said Salil Chaturvedi, promoter- director, Provogue.
During the first two years, Provogue will invest about Rs10 crore in the joint venture, Mr Chaturvedi said. Provogue is likely to hold more than 50% stake in the joint venture.
Provogue will not manufacture the body-care products, but will only be branding them. The products will range from deodorants, perfumes, skin care and other personal care products.
“We are in talks with JL Morison for body-care products. JL Morison will help in sourcing and will front-end distribution of the product,” said Mr Chaturvedi.
The company is planning to sell the products through the mass-market channel and is looking at reaching 12,000- 15,000 outlets. “We are pricing the products at a little premium. We are planning to stock at least 30 products and we are targeting a turnover of Rs50 crore in the next three to five years,” Mr Chaturvedi added.