Hyderabad: Adding another products division to its portfolio, Mahindra and Mahindra’s agriculture business division on Thursday launched its fruit brand Saboro under Mahindra ShubhLabh.
Targeting the urban population which is brand and quality-conscious apart from favouring imported fruits, the company will be selling apples (its first product under the brand), for Rs 170, as against visually-appealing imported apples priced between Rs 210 and Rs 230. The price of local Indian apples is Rs 120.
“Apples would be the first product to be launched under Saboro. They are being cultivated at Kinnaur, Himachal Pradesh. We forayed into fruits business with grapes and Hyderabad has been a brand-conscious and quality-conscious market.
So, after achieving top status in our exports, we have decided to launch the brand here,” said Ashok Sharma, chief executive officer, agri and allied business, Mahindra & Mahindra.
In Hyderabad, the company has tied-up with Heritage Foods Ltd. to sell apples.
On its plans for the Indian market, Sharma said that the company will be selling apples at 200 locations across the country. “We plan to increase our revenues from the current Rs 65 crore to Rs 300 crore by 2016,” he added.
Mahindra Agri division also plans to introduce other fruits including banana and exotic fruits in the coming years.
When asked if the company has plans to open their own stores,?Sharma said they would be partnering with major retail brands (that sell fruits)?across the country,
Meanwhile, India’s fruit imports are dominated by apples — close to 1 lakh apples every year which is valued at about $90,000. The other fruit imports include Pears, Kiwi, citrus fruits, Peaches and Plums. These imports constitute a a bigger chunk in India’s nonessential imports.
