Ozone Pharma chairman SC Sehgal is in the process of finalising plans to set up a manufacturing facility in Europe. Currently we are considering three destinationsUK, Austria and Switzerland. Soon we would zero down on one and start the work.We also plan to start hiring marketing personnel in Europe as soon as we are ready with the plant, Sehgal confirmed to FE. Having launched a range of personal care products under the brand NomMarks Sehgal is confident that the brand would triple revenues this financial year to earn R150 crore.
We have planned out vertical and horizontal growth for Nomarks. Apart from creating verticals within the brand by rolling out specialized products, for instance differentiated products for targeted age groups, we plan to soon introduce a range of oral tablets to complement our existing products, Sehgal said.
The group is in midst of sprucing up its distribution. Honestly speaking we are a pharma firm with a research orientation and a disproportionate amount of our energy as a firm has got spent in R&D till recently. We till now havent built the width and depth of reach that a FMCG group should command. But we are making inroads in that area, a horizontal growth strategy for Nomarks which would unleash its full potential, Sehgal said.
Admitting that Ozone Pharma has got several lucrative offers from many national and multinational players to sell the brand at tempting multiples of the products sales, Sehgal says he plans to leverage the homegrown brand to realise its fuller growth potential. It would have been very unusual to have not got these offers. It shows that the peers are putting equal amount of trust in the brands growth story, he said.
Ozone which has an annual revenue of R150 crore currently targets to almost double its revenue by the end of this financial year and cross the R1,000- crore mark in next five years. When asked whether the targets set are too ambitious, Sehgal said The most difficult part of my journey in Ozone was to make it from a R1 crore to R5 crore company.