New Delhi: FMCG company R R Oomerbhoy eyes to grab 15% of the total domestic market of olive oil by next year, managing director of RRO Riyad R Oomerbhoy said on 20 September.
RRO that has already signed a marketing and distribution deal with Italy-based Salov, plans to launch Italian brand olive oil ‘Filipo Berio´ in other metros and tier II cities. The company has already launched the product in Kolkata.
“We are expecting to grab about 15% of the total domestic market of olive oil that is about 2000 tonnes,” Oomerbhoy said while launching the product in Delhi.
He said the boom in Indian economy has enhanced the standard of living. It has not only increased the buying capacity of consumers but has also made them more health-conscious. Filippo Berio is priced Rs725 for a litre.
“The product is priced high because of high import duties, less olive output in the European countries.” he added. RRO would import Filipo Berio bottles of one litre and above and would churn out smaller bottles of 200 ml in its Mumbai bottling plant.