Financial Daily from THE HINDU group of publications
Saturday, Jun 04, 2005
Conybio to set up shop in US Targets 3-million Indian expatriates
Thiruvananthapuram , June 3
THE Chennai-based Conybio Healthcare (India), manufacturers of Far Infrared Ray (FIR) - activating bioceramic bodywear, is setting up a base in the US by the end of this year.
Disclosing this to Business Line, Mr N. Khanagendrran, President and Chief Executive Officer, said the three-million Indian expatriates in the US is too a big market for Conybio to ignore.
"I'm not going to run all over the world. India and the US are big enough markets in focus right now," he added.
To start with, Conybio India will invest $4 million to set up the US operations. This would mean that whatever profits earned would be fully repatriated to the parent company.
This is going to be win-win situation for all stakeholders, with Conybio distributors here being able to get international sponsorships, Mr Khanagendrran said.
But US is a very costly place to set up a manufacturing base. So, for the time being, the company will source the bioceramic products from Korea and Malaysia where these are currently manufactured.
The products range from braces, t-shirts, pants, bands, cosmetics to toothpaste.
"The company proposes to set up a manufacturing base in India at the earliest. We have already formed an outfit to launch domestic operations. The manufacturing facility, to be based in Chennai, will go on stream from early next year," Mr Khanagendrran said.
The moment this happens, the company will start exporting locally manufactured products to the US market.
FIRs having a wavelength between four and 16 microns have been found beneficial to the human body.
The normal absorption of resonant frequency for human body is eight to 15 microns. However, the range of absorbable band of all organic matter on the planet is approximately six to 15 microns.
This activates water molecules and they vibrate through resonance, which, it is claimed, improves and increases blood circulation and metabolic function.
FIR has a thriving market in South East Asia, especially Japan, Korea and China.
Conybio has depended on word-of-mouth campaign since inception but the distributors have in recent times voiced a demand that the company use print and electronic media to reach out to a much larger audience.
The company has since taken an in-principle decision to place ads as a means to boosting brand affinity and visibility.
"Basically, we don't have an ad budget. Our distributors have been our brand ambassadors. And they get paid through commission and bonus. But from now on, we will use media space judiciously to speak to more people at a given time," Mr Khanagendrran said.
Stories in this Section
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line