New Delhi: Vi-John Group, a maker of shaving creams and other personal care products, has formed an equal joint venture with Spanish brewer Mahou-San Miguel to enter the Indian beer market.
“Beer is a new segment for us, we had heard of this Spanish company and wanted to work with their expertise and experience.” said Bhupinder Singh Kochar, chairman of Vi-John Group.
Vi-John Group’s brewery in Rajasthan will produce Dare Devil 10,000 premium strong beer and Mahou Cinco Estrallas for the local market.
“We wanted to diversify and the result of that diversification is this joint venture,” said Vimal Pande, chief executive of Vi-John Group.
Besides foraying into new product segments, Vi-John is also expanding overseas. The family-run business, which posted a revenue of Rs. 250 core in FY 2011-12, is planning to enter the African market soon. “By mid October, we plan to enter the African sub-continent with our entire product portfolio, including shaving creams, perfumes, deodorants, shampoos,” said Pande.
The group, which manufactures Vi-John shaving cream, also plans to enter the Russian market by the end of this year, he said.
Pande said the Vi-John is looking at acquiring personal care brands in India in the future. “We are looking at acquiring a few brands in the personal care category in India. We have appointed a due diligence agency to start the procedure but I can’t disclose further details. Through these acquisitions we will be going into the product categories which are huge.” Pande said.