Way back in 2015, we were the first to report that Patanjali will enter the apparel market, to compete against the likes of Nike and Adidas.
Now, this news has been confirmed.
Patanjali promoter and co-founder Baba Ramdev has confirmed that they will enter into apparel and fashion market.
Besides, their aim is to beat HUL in their own game; and they are seeking Rs 5000 crore loan for expansion.
What else can a Yogi disrupt now?
Baba Ramdev: We Will Make Swadeshi Underwear, Sportswear
During the inauguration of Patanjali Gramodyog in Alwar, Baba Ramdev declared that they will now manufacture clothes, and enter the lucrative apparel market in India.
They will make everything from underwear to ethnic garments, sportswear and more. ‘Swadeshi’ will be the punchline, under which these new ‘arrivals’ would be sold. Breaking the ‘monopoly’ of foreign manufacturers is what the aim is.
He said, “Patanjali will soon get into garment and textile market and break the stronghold of manufacturers. Patanjali will make everything from underwear to ethnic sportswear soon.”
They have recently launched ‘Divya Jal’, which is aiming to disrupt the market of mineral water in India.
Patanjali Seeking Rs 5000 Cr For Major Expansion
Patanjali is right now experiencing tremendous success in their FMCG business, as they clocked sales of Rs 10,000+ crore during 2016-17. We had reported yesterday that Patanjali co-founder Balkrishna has now assets worth Rs 70,000 crore, which is 173% more compared to last year.
Now, Patanjali is aiming a business turnover of Rs 100,000 crore in the next 3-4 years.
Their newest target is to beat revenues of Hindustan Unilever (HUL), which had generated revenues of Rs 34,000+ crore last year.
For this major expansion, they are seeking loan of Rs 5000 crore.
Baba Ramdev said, “Patanjali’s revenue will be more than HUL’s (Hindustan Unilever Ltd) in 2018-19. To support this growth, we’ll need to borrow over a period of time,”, adding that they want to become “largest packaged goods company in the world by 2020-21”.
During an event by All India Management Association, Baba Ramdev said that “Patanjali has the potential to become a Rs2 trillion company,”
As per reports, Patanjali has already hired investment bankers for this loan, and looking for equity-linked fundraise options. As of now, Patanjali has a debt of only Rs 300 crore.
Baba said, “MNCs (multinational corporations) have ruined the health of Indians. We need to stop that. Patanjali is not just for selling products, but for saving our own country,”
We will keep you updated as we receive more news and views about Patanjali’s aggressive market expansion plans.