India’s Reliance announces partnership with Sri Lanka’s Elephant House
The Morning: Reliance Consumer Products Limited (RCPL), the FMCG arm and wholly owned subsidiary of Reliance Retail Ventures Limited (RRVL), yesterday (28) announced in a statement that it has partnered with Sri Lanka-headquartered Elephant House to manufacture, market, distribute and sell beverages under the Elephant House brand across India.
This association will not only help RCPL bolster its growing beverage portfolio that boasts iconic brands such as Campa, Sosyo and Raskik but will also bring exceptional new products and value propositions to Indian consumers.
Elephant House is owned by Ceylon Cold Stores PLC, a subsidiary of John Keells Holdings PLC, Sri Lanka’s largest listed conglomerate. Under the Elephant House brand, it manufactures and sells a wide range of beverages including Necto, Cream Soda, EGB (Ginger Beer), Orange Barley and Lemonade to name a few.
Speaking on the partnership, Reliance Consumer Products Limited COO Ketan Mody said: “Elephant House, which enjoys strong market credibility, is an iconic brand with deep-rooted heritage. This partnership will not only add its much-loved beverages to our growing FMCG portfolio but will also offer our Indian consumers great choice and value proposition through quality products. Being the custodian of several renowned global brands in India, Reliance is well-equipped to further expand Elephant House’s established consumer brand, which has been built over 150 years.”
John Keells Group Chairperson Krishan Balendra said: “We are proud to announce the expansion of the Elephant House brand to the Indian market. Our partnership with Reliance Consumer Products Limited marks a significant milestone in the journey of our heritage brand and represents our commitment to delivering our high-quality beverages to new consumer segments. We look forward to the opportunity this partnership brings, to provide refreshing and innovative beverage options to meet the diverse preferences of Indian consumers.”
The agreement between RCPL and Elephant House underscores a shared commitment to excellence and innovation, empowering both organizations to capitalise on synergies and amplify their market presence.
RCPL’s vision is to offer Indian consumers a wide portfolio of globally recognised brands and products that stand out for their exceptional quality and value. In addition, RCPL is rapidly scaling up its multi-channel operations to reach more consumers across diverse markets.
OSL take:
The growing ties between Sri Lanka and India continue to grow with more Indian businesses/investors looking at doing business with Sri Lanka. With both countries focusing on expanding and strengthening trade ties along with connectivity, the business/investment opportunities continue to open up for Indian businesses. Given that India is one of the key development partners of Sri Lanka and Indian businesses already operating in the country recording growth and profits, more Indian businesses/investors could confidently explore the growing opportunities in their neighbouring country. They could also look at forming partnerships or joint ventures with local businesses in order to expand. Other foreign businesses/investors looking at doing business with India could look at setting up base in Sri Lanka to engage with India as well as other countries in the region using the preferential treatment enjoyed by Sri Lanka in those countries. Sri Lanka’s strategic positioning in the Indian Ocean and the strong trade ties areas added advantage to becoming an emerging business hub in the South Asian region.
| Article Code : | VBS/AT/20240308/Z_1 |