- The company launches 61 products in cosmetics, personal care, and home care categories
- All the products will be made available through e-commerce platforms as well as through 47 stockists, over 500 FMCG distributors across major cities in 29 states from August 14 onwards
- The company has received Rs 14 crore worth pre-launch orders and aims Rs 230 crore sales in first year of operations: Vipul Nandlal Kamdar, Vice President – Sales
- Over the coming six months, the company plans to launch its products in foreign markets as well which includes USA, Europe, Singapore, UAE, and Australia, among others: Nirav Sharma, MD and CEO of Bankai Consumer Products Private Limited
NE BUSINESS BUREAU
AHMEDABAD, AUG 10
Bankai Consumer Products Private Limited, a joint venture of award-winning FMCG brand Crusto Innovations known for its innovative and natural products, and ICT major Bankai Group on Thursday announced its foray into the Fast Moving Consumer Goods (FMCG) segment with the launch of their new offerings in personal care and home care products segments.
Bankai Ventures, the venture capital arm of Bankai Group invested in Crusto Innovations in 2022 to create a unique global brand.
”Consumers want to use chemical-free and natural products. They are more aware and selective. We, Crusto Innovations, have a decade of research to ensure we give truly natural products and bring consumers close to nature. All our products are patented. The strategic partnership with Bankai Group will enable global distribution of our invention and scaling the current growth,” said Nirav Sharma, MD and CEO of Bankai Consumer Products Private Limited.
The new JV has launched a range of products under the brand names – Bon Voir for cosmetics and personal care products, which include a range of haircare, skincare, body care and baby care products; and Born Eartho for home care products, including housekeeping products, home fragrance and handwash, among others.
The new offerings comprise a range of 61 products, including cosmetics, personal care, home care, fragrances, hygiene products, among others – all of which are chemical-free and eco-friendly. Each product is eco-friendly certified.
“Over the years, there is a significant increase in awareness about the environmental impact of the modern lifestyle. While health, personal care and hygiene has assumed importance, the bane is always its environmental impact. Over the years, we have witnessed a paradigm shift in the FMCG industry and responsible consumers with rising disposable incomes want to make green and conscious eco-friendly choices. Keeping such consumers in mind, we have launched our first range of cosmetics, personal care and home care products that are completely natural, plant-based, and eco-friendly. We are confident that our initiative will go a long way, not just in making a positive environmental impact but also in driving consumers to make conscious choices,” said Bankim Brahmbhatt, chairman, Bankai Group.
Bankai Group’s revenue touched a peak of US $2.2 billion in 2022 and investing in Crusto Innovations and integrating it under the Bankai umbrella of companies will further help the group scale newer heights. Each product offered by Bankai Group is a patented formulation.
All the products will be made available through e-commerce platforms as well as through some 500 FMCG distributors across major cities in each Indian state. The products will be available in the market by the end of August 2023. The company manufactures all its products at its manufacturing plant in Gandhinagar spread over 5,000 sqft, which has a production capacity of manufacturing 1.27 crore bottles per month.
Bankai Group has already invested at least Rs 30 crore for establishing the plant and setting up the brands. The total investment portfolio of Bankai Group is at least Rs 100 crore. Over the coming six months, the company plans to launch its products in foreign markets as well which includes USA, Europe, Singapore, UAE, and Australia, among others.
“With this launch, we plan to increase our turnover to Rs 500 crore, in the next three years. While we are bullish on the Indian market, we intend to tap on the developed economies as well. The focal point of our market penetration will be exports and our products will be made available on e-commerce platforms and will be marketed accordingly. We are confident that our responsibly manufactured indigenous and well-researched, patented products will certainly be well-received across India and the world as the discerning modern consumer seeks mindful alternatives to one’s lifestyle choices,” explained Nirav Sharma, CEO and MD, Bankai FMCG.
All our products are priced between Rs 99 and Rs 299. We planned to launch premium products soon, added Nirav Sharma.
”We have always believed in the Indian FMCG growth story. The company has received Rs 14 crore worth pre-launch orders and aims Rs 230 crore sales in the first year of operations. We are already present in over 110 countries. We are well-positioned to take advantage of the growing sector and emerge as a market leader,” said Vipul Nandlal Kamdar, Vice President – Sales.
