Future Consumer joins hands with T Choithrams to foray into Middle East market
BusinessToday.In February 18, 2019
Future Consumer (FCL), the FMCG arm of Future Group, on Monday said it has entered into an arrangement with the Middle East's leading chain of retail supermarkets, T Choithrams & Sons, for selling its products in the Middle East.
"FCL and Choithrams have identified an opportunity to strategically partner across the UAE, Bahrain and Qatar to bring FCL's portfolio of leading brands to consumers across the Middle East," FCL said in a filing to the Bombay Stock Exchange.
With a network of more than 60 supermarkets across UAE, Bahrain and Qatar, Choithrams will, market, distribute and retail FCL brand products for sale through its own stores, as well as distribute FCL brands to other retail stores, it said.
Under this agreement, FCL will be leveraging Choithrams' reach to export and distribute its core brands under various product categories, comprising initially the - Tasty Treat, Sangi's Kitchen, Desi Atta Company, Golden Harvest and Mother Earth.
Kishore Biyani-led company has partnered with Choithrams during the Gulfood Dubai 2019 show, it added.
Commenting on the development, Ashni Biyani, Managing Director, Future Consumer said, "Future Consumer Limited has developed a strong presence in India. Our partnership with Choithrams will help us explore international markets for our products, and make our leading brands available to consumers across the Middle East."
Meanwhile, shares of the company closed trade at Rs 43.65 apiece, up 2.46 per cent, on the Bombay Stock Exchange on Monday.
(With inputs from PTI)
Edited by Chitranjan Kumar