India’s largest retailer, Future Group, has struck a deal with US juice giant Sunkist to manufacture, market and sell the Sunkist range of drinks in India, KamCity reports.
The group also announced its decision to sell its stake in a food manufacturer, the latest in a series of similar sales intended to assist it in focusing on core operations.
Sunkist’s drinks range include fruit juices, juice drinks and carbonated beverages.
The products will be sold through Future Group chains such as Food Bazaar, alongside sales through the general trade.
The development reflects the group’s growing focus on its Fast Moving Consumer Goods (FMCG) business.
Chief executive and founder of Future Group Kishore Biyani said they planned to grow their FMCG business to a value of Rs100bn (US$1.6bn) by 2018, up fivefold from its current value of Rs20bn.
“We expect the Sunkist brand to record Rs2bn (US$32m) sales turnover by the second year of launch,” said Biyani. “It would be based on a royalty payment.”
The deal offers the group the right to refuse to license Sunkist’s confectionery and dried fruit brands in India, he added.
