To compete with Baba Ramdev’s Patanjali Ayurved Ltd., Indian spiritual Guru Sri Sri Ravi Shankar is all set to launch 1,000 retail stores across the nation to sell it’s herbal products. Giving a major competition to Ramdev’s FMCG firm, Sri Sri is also believed to launch clinics and treatment centres in India. Sri Sri’s company has already been selling products such as health drinks, soaps, fragrances and spices since 2003 through retail stores and online platform.
Sri Sri Ravi Shankar entered the FMCG market with the launch of his company Sri Sri Ayurveda (SSA) in 2003. Sri Sri Ayurveda earlier this year had introduced spices and organic staples in the Indian market. It’s online portal, Sattva Store offers apparel, wellness and personal care products, food among other things. Sri Sri Ayurveda is a global name and has its presence in nations abroad. Sri Sri Ayurveda also plans to open ‘Sri Sri Tattva’ branded stores which will pose a threat to Patanjali as Baba Ramdev is now gearing up to foray into the clothing market soon. And if repots are to believed, Sri Sri Ayurveda’s first store will be launched next month with plans to open 50 doors by November.
Sri Sri Ravi Shankar is the founder of Art of Living Foundation and been honoured with the country’s second-highest civilian award. The Foundation was created in 1981 with an aim to help people under stress by means of yoga and meditation practices. Patanjali, which dominates the Indian consumer industry as of today will face direct competition from Sri Sri Ayurveda as both the companies aim to cater to India’s demand for herbal products.
Earlier this month, Ramdev said Patanjali is in the process of acquiring 150 acres of land in Jammu and Kashmir, and would be offering jobs to Kashmiri youth. He also called for boycott of Chinese goods, saying that India is ready to counter China on every front. Patanjali posted a turnover of Rs 10,561 crore in May 2017 surpassing other major competitive firms like Nestlé India (Rs 9,159 crore) and Godrej Consumer (Rs 9,134 crore) and Dabur (Rs 7691 crore). The turnover was almost five times its 2014-15 sales of Rs 2,006 crore.
Meanwhile, the herbal products have gained huge popularity in the last few years and it is a market that is fast expanding. People have now accepted Ayurvedic products in their daily lives. Popular brands like Hindustan Unilever and Dabur have taken this as a challenge and have relaunched some its products.