AVA Group, the maker of Ayurvedic Medimix soaps in southern India, plans to grow its business volume by 43% to reach £500 million in sales by 2025.
“Last FY we posted sales of £350m… same as FY21 as our products are needed on a daily basis and sales have not been impacted due to COVID. We are targeting £500m turnover by 2025,” said Vivek Venugopal, Director, Business Development, AVA Group.
He claimed that the hair care segment accounted for a large portion of sales and said the focus would be on growing the Medimix soaps and alternative wellness category to meet the target.
On Wednesday he announced that AVA Group would build a new spice processing plant near Chennai with an investment of £10-15million. Land acquisition has been completed and construction work has begun. It will be operational in June.
When asked about the expansion plans, he said the group companies had sufficient capacity. The hand sanitization department in Vijayawada would be looking to expand in the future.
AVA Cholayil Health Care Pvt. ltd Directors Lanchana Vivek and Pratheeksha Anoop launched Medimix Total Care Shampoo with natural ingredients in 80ml and 160ml packs. It consists of nine natural herbs and other essential ingredients. It will be available at all retail stores in the South and on e-commerce platforms, they said.