| Date: |
08-09-2015 |
| Subject: |
Spices Board India to go global through retail outlets |
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KOCHI: The Spices Board India has decided to go global by opening premium retail outlets abroad to sell around 30 of the choicest spices and value added products under the "Spices India" and "Flavourit" brand names.
Spices Board chairman A. Jayathilak said signature stalls would be set up in overseas market in partnership with private investors.
"The stalls will help us to gain access to more international markets and further promote the popularity of Indian spices abroad," he said.
The board is an autonomous body responsible for the export promotion of the scheduled spices and production development of some of them such as cardamom. It functions under the commerce and industry ministry.
Pointing out that the board has chalked out a major expansion plan for the retail stores, the chairman noted that it had already set up a few signature stalls within India.
Flavourit Spice Trading Ltd (FSTL), a Spices Board enterprise, has invited expression of interest from prospective investors to take up franchises for 'Spices India' signature stalls in foreign markets.
"The stalls are part of the board's efforts to bring about systematic diversification and sustainability of the industry," said Jayathilak.
Apart from whole spices, the store also has a line of lifestyle and personal care products such as beauty creams, clearness oils, bathing bars, shower gels and shampoos all flavoured with spices.
Spice-flavoured chocolates are added attractions.
The FSTL is currently offering three different franchisee operating models: COFO (Company-Owned, Franchise-Operated), FOFO (Franchise-Owned, Franchise-Operated) and SIS (Shop-in-Shop) retail concept wherein retail stores share a dedicated space for Spices Board products.
Source : economictimes.indiatimes.com
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