Global Consumer Products To Raise $50 Million From Goldman Sachs And Mitsui Ventures
Global Consumer Products Pvt Ltd. is looking to raise another $50 million from existing investors Goldman Sachs and Mitsui Ventures as it looks to clock a revenue of Rs 2,000 crore over the next five years.
The company has already raised $50 million from both these investors.
The consumer goods major is available at 2 lakh retail outlets concentrated in urban areas. It plans to tap into rural areas through the wholesale trade channel to distribute its products.
The consumer goods company, started by a former Godrej Consumer Products executive, has launched a liquid mosquito repellent at Rs 36, half the price of market leader Godrej Consumer Products’ Good Knight.
A Mahendran, chairman and managing director of Global Consumer Products said the company plans to capture 10 percent of the household insecticides market over the next few years. The company will also eventually launch other formats of household insecticides like coils and aerosols, he added.