Financial Daily from THE HINDU group of publications
Thursday, Dec 23, 2004
Financial Daily from THE HINDU group of publications Thursday, Dec 23, 2004 |
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Corporate
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New Projects Appollo Alchobev to invest Rs 100 cr for expansion Our Bureau
Bangalore , Dec. 22 Spirits major, Appollo Alchobev, on Wednesday said that it plans to invest over Rs 100 crore to expand its operations in the country. The Chief Executive Officer, Mr Sat Pal Chaudhry, told presspersons that the company expects to post a turnover of over Rs 300 crore in another five years. He said around Rs 100 crore will be invested over a period of five years for acquiring breweries and distilleries in the country and for brand-building activities. He said the company, a part of the Chennai-based Empee Group, plans to launch new brands in the whisky, white spirit, rum and brandy segments. Appollo also plans to launch a lower-priced Scotch brand in the country sometime next year. He said Old Secret, a rum brand, is expected to become a 1 million brand soon in southern markets. It will be launched nationally by the end of 2005. In the South, the brand has 11 per cent market share. Appollo also markets Club Royal, Club Polo Dry Gin, Napolean, Power and Mazdoor brands. The company currently owns units in Karnataka and has strategic alliances for bottling in Tamil Nadu, Kerala, Pondicherry, Orissa, Andhra Pradesh and West Bengal for its IMFL brands. It is also setting up a winery and distillery in Goa at a cost of Rs 3.5 crore. By 2005, it expects to sell 3 million units and by 2010, around 10 million. The company plans to have at least four breweries in the country in the next five years. It is studying the markets in Punjab, Madhya Pradesh, Haryana and Uttaranchal to launch its brands there.
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