New Delhi: FMCG firm Ozone Ayurvedics on Friday said it will consider selling off its flagship personal care brand ‘Nomarks´ to exploit the full potential of the product and already up to seven companies have approached it.
“We are open to all sort of alliances and whichever route is appropriate for the brand to grow we will go ahead,” Ozone Ayurvedics chairman and managing director S C Sehgal said when asked if the firm is looking to sell off the brand.
Explaining the reasons behind the move, he said: “We have not got the kind of distribution that it should have for the brand to grow. We are looking for an aggressive marketing strategy this year.
“However, if we find any firm, with great distribution channels, who wants to buy, we will consider it.”
Asked if Ozone Ayurvedics is in talks with other companies for the same, he said: “Till date top six to seven firms have approached us”. He, however, did not disclose the names.
He said the company has not exploited the true potential of ‘Nomarks´ and the brand has been ignored as it has been focusing on other priorities.
He said the company has not been aggressively promoting the brand “as should be doing”.
At the same time, Sehgal said the company may also consider for alliances with other companies, “if that is appropriate for the brand to make it more lucrative”.
At present, the brand garners a sale of around Rs 60 crore and plans to make it to Rs 150 crore by the end of this fiscal.