We are at an advanced stage of discussions with Wal-Mart and Costco for supply of our pouches in the US, Flex Industries Ltd president Sutendra Kumar told FE.
The US market for such food bags alone is estimated to be about $300 million, currently dominated by two major brands Hefty and Zip Lock.
Flex is eyeing a market share of 10% in this segment in the next three years. The company hopes to lock in a $10 million order by September 2005 with Wal-Mart for its specialised product called press-n-hot, a special chicken carry bag made of heat resistant film that withstands heat up to 220*F and sports a reusable zipper closure seal.
According to Mr Kumar, Wal-Mart had earlier rejected some of its products but has given a green signal to one of the products specially developed to meet Wal-Marts specifications.