Ruchi Soya Industries has announced a foray into the nutraceuticals and wellness segment with an initial rollout of 10 100% vegetarian nutrition products under the brand ‘Patanjali’ and ‘Nutrela’. The company aims to have a range of products across various categories by 2022, it said in a statement. Retail points will include pharmacies, general stores, e-commerce platforms, health and wellness stores, gyms and Patanjali exclusive brand stores across India.
“To start with, the company is launching 10 products, including vitamin B12, iron complex, vitamin D, vitamin C and zinc complex, daily active, daily energy, weight gain, and omega…,” Ruchi Soya Industries said in a statement.
The company plans to use the joint branding of ‘Patanjali’ and ‘Nutrela’ for packaging, promotion, advertising and marketing the initial range.
Ruchi Soya Industries said it had obtained a non-exclusive renewable licence to use the ‘Patanjali’ brand, for which it will pay Patanjali Ayurved Ltd (PAL) a royalty of 1 per cent of the net manufactured volume. PAL has signed a non-compete arrangement for all nutraceutical products under agreed arrangements.
The entire range will be manufactured by PAL at its plant located at Patanjali Food and Herbal Park, Haridwar, under a contract manufacturing arrangement.
Ruchi Soya Industries also disclosed that its board had approved execution of breakfast cereals and noodles assignment agreement between PAL and the company for a consideration of Rs 3.5 crore.